It's been a long time since I posted the first part. As it turned out, the lessons were not all learned yet, I kept taking new notes and want to share them with you.
The first part received a lot of views and positive comments, I will be glad to share my experience with you and if you can become better in our craft.
- [ ] Read these rules before you decide to enter the market. You will forget something and close a lot of deals poorly.
- [ ] Think like a whale: imagine that you need to take the money of other market players, that they have set stops all over the level, you need to take them.
- [ ] Try turning off the color of the candles. Sometimes this can be very confusing, you might think if 3 candles were green, then you need to open a long position, but the market has its own plans, in fact it is black and white.
- [ ] Don't rely on God to be your risk manager. This rarely works. You and only you influence the result; you also need to praise or scold only yourself.
- [ ] Markets can remain unclear for much longer than you can bear. Don’t think that you know everything, there is no 100% guarantee of predicting market movements.
- [ ] When throwing a trading volume from the spot, do it wisely, take only 20-30%, and include % of losses with a stop. If you lost money in a trade, you do not need to withdraw anything from the spot again. Return the remainder to the spot, do an analysis, and next time it will turn out better.
- [ ] Before you enter into a trade, you need to be in the market. Watch him, get used to it, feel the mood of other players. There is no need to open a deal as soon as you wake up or for the sake of interest. 30-60 minutes will be enough.
- [ ] Learn to work sideways. When large players gain their positions in the market, this is often noticeable, work from the levels or wait until the price comes to the desired area of interest.
- [ ] Take into account the news, many people trade on the news, even if the market is going up, one speech about the key rate can bring it down significantly.
- [ ] Don’t trade on weekends, give yourself time to relax and unwind, there is little liquidity and it’s not a good time to trade.
- [ ] After a large market movement in one direction, do not rush to open a deal, the market may once again move in the direction it needs, help your legs and go back. Control your emotions.
- [ ] Think with your own head, even if top traders draw charts and say that the market will go down, do not open a trade on trust. Verified: the best analysis is your own analysis.
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