If you're a beginner in the field of trading. You don't need to learn 1000s of the books or tons of the strategies to be a profitable trader. A trader must know some basics. Never follow random signals from anyone No matter what.
If Nothing, at least ask yourself about these things before opening a new trade.
✅️Did I check all the Time Frames?( Lower and higher both)
✅️ Did I mark support and resistance?
✅️Where is the price at the moment ? (support, mid range or resistance)
✅️ Should I wait for my zone of interest or I am already late?
✅️ What are the reasons that support my idea of being bullish or bearish.
✅️What are the overall sentiments of market at the moment?
Believe me you need to know only small information for not taking too many losses. Yet you need to learn a lot for being a profitable trader in a long run.
This chart is an example, if some people are still bullish on the chart that has already 277% growth just in a week, that's insane!
If Nothing, at least ask yourself about these things before opening a new trade.
✅️Did I check all the Time Frames?( Lower and higher both)
✅️ Did I mark support and resistance?
✅️Where is the price at the moment ? (support, mid range or resistance)
✅️ Should I wait for my zone of interest or I am already late?
✅️ What are the reasons that support my idea of being bullish or bearish.
✅️What are the overall sentiments of market at the moment?
Believe me you need to know only small information for not taking too many losses. Yet you need to learn a lot for being a profitable trader in a long run.
This chart is an example, if some people are still bullish on the chart that has already 277% growth just in a week, that's insane!
