Because of the volatility in the trading markets, there is no such thing as a 100% accurate system. This means that without proper training and analysis of the charts, one could be in for a huge loss in one trade or even lose everything in one load. It's pretty much reality, and I think that's the major reason why most people feel it's too risky to even dream of being so rich from playing the stocks- it's like probably winning the lottery or something.
Fortunately, there are consistent winners in the market and these professionals seriously know what they are doing. I'm finding out to become an average trader who profits in these markets, one needs to invest about two years practicing successful trading methods to finally get a working knowledge. The trader has to be fully dedicated and is pretty much the only person who is going to figure out what works best.
Basically, I'm finding that exiting trades is just as important as entering trades. It's really a game that's all about proper timing and playing with the highs and lows of the market. What I found helps so much is learning how to work with candlesticks. I pretty much have a fully comprehensive system that works just for me now- it's probably not going to be satisfying for others but for myself, I really like how far I've come and how profitable it could be for me and ensure a pretty decent life that I've been longing to live. It's really all in the discipline and sticking to it.
What I look for is pretty much harmonic or Fibonacci patterns, breakouts of support and resistance, chart patterns, candlestick formations, the beginning of highs and lows, scalping opportunities, price action, and crossovers with moving averages. Before getting into these good trading opportunities, I look for pretty much the highest probability ones because I would rather wait for a high probability one than gamble and enough volatility in the market. Because of my swing trading habits, I'm starting to not worry so much about the spreads of a currency anymore and the news also. Because I work higher time frames and insist on keeping trades for longer periods, I would rather have better technical analysis rather than looking at the news. I just let the candlesticks run the show which is probably what reflects price action the best.
Finally, a major consideration to make is picking the right broker. I really don't like market makers because they trade against you, despite their occasional offers of lower spreads and better execution times. I pick to work with non-dealing brokers because they actually are pretty friendly with wanting traders to win in the market. They make a small commission off of placing trades with them; therefore, the more money you make, the more trades you make, and the more money they make. They even accommodate traders with decent tools to even have a better edge in the market. I would rather stick with those brokers rather than trading against them because they can screw you over with their big bank roll in the market.
Academy of Scrappy Credible Undergraduate Desire
