Saturday, November 16, 2013

Buying and selling areas are critical

 You need to set daily profit targets. When you hit these targets, you should think about your next trade or stop for the day. Traders need to stop when they are winning and stop when they lose. You should give yourself a trading plan that includes this. Traders should be charting, analyzing, processing or executing while trading which takes discipline. Stock traders must become aware of what is between you and keeping commitments with consistent trading. In learning the mental game and keep emotions out of your trading.
 Traders need to recognize where buyers and sellers are located on your candle stick charts, most violent moves and then retracing those moves back to their point of origin. Look for important shifts in candle clusters, or pivot highs or lows, across all time frames, then zero in tactically into those buy, and sell areas depending on your trading plan. other indicators or charts with technical analysis can be added as confirmation tools. The chart indicates where buyers and sellers are evenly matched which can be a buy or sell area.
Daily profit targets