Nothing will work 100%… No, there is 1….!
Maintaining the Stoploss limit. Consider maintaining the SL limit which works 100% and protects you from loosing more!
I believe in price action & money flows more than indicators.
My strategy built of simple things, candlesticks, levels and classic patterns. Using these main things I learned to understand market movement. I can see how market moves and enter the market by its direction.
I take trades on Price Action by using 5 minutes and 15 minutes time interval most of the time. The selection criteria is based on manually filtered stocks and marking important levels.
Keep your charts simple, do not complex them. The more the clear the more the profits.
There are 5 Golden principle of trading:
- Always do your research
- Stick to your research no matter its right or wrong
- Never ever trade without target and stop loss
- Never ever change your target and stoploss. If required decrease the Stoploss or target rather increasing from the initial levels.
- This market is in existence for years and it will be opening tomorrow so we are in no hurry.
There is no such strategy invented in this market or any market of this world. So if you are expecting that you will get profit only and you will never get loss, you have to rethink on that.
In fact, many traders advise that you learn how price action works before taking up any other forms of analysis.
If you don’t learn how price action works, you won’t really understand why you are buying or selling, you won’t see the market for what it really is.
This is especially true if you only trade using indicators – you may just start buying or selling just because they are telling you.
But the thing about indicators is that they can be wrong.
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