Steakeater
New member
Hi everyone making a quick guide, remember there are no shortcuts or get rich quick schemes.
Part 1: How to become successful if your struggling(I know I was)
1. Slow down take a deep breath, look at your chart and make sure you understand what its telling you. Make sure you are not having indicator overload and you can read what your indicators are telling you.
2. Stock trade using one share and always use a stop loss and a profit taker.
3. Where do I put my stop loss you ask? Well look at your chart, where has price struggled to reach and been rejected.
4. Where do I put profit taker you ask? Put your profit taker where price has gone through with ease or an area that you believe price will go but do not get to greedy. I like to use a 12 day ATR to determine stops and targets with a 1 to 1 risk to reward.
5. As you increase your reward to risk the probability of your trade succeeding diminished remember trading is all about probabilities.
6. Determine what type of trading and timeframe works for you? I will go into this next part if the community shows interest and if anyone has any questions for advice for others feel free to comment below.
Part 1: How to become successful if your struggling(I know I was)
1. Slow down take a deep breath, look at your chart and make sure you understand what its telling you. Make sure you are not having indicator overload and you can read what your indicators are telling you.
2. Stock trade using one share and always use a stop loss and a profit taker.
3. Where do I put my stop loss you ask? Well look at your chart, where has price struggled to reach and been rejected.
4. Where do I put profit taker you ask? Put your profit taker where price has gone through with ease or an area that you believe price will go but do not get to greedy. I like to use a 12 day ATR to determine stops and targets with a 1 to 1 risk to reward.
5. As you increase your reward to risk the probability of your trade succeeding diminished remember trading is all about probabilities.
6. Determine what type of trading and timeframe works for you? I will go into this next part if the community shows interest and if anyone has any questions for advice for others feel free to comment below.
Last edited: