- Messages
- 102
- Reaction score
- 16
- Points
- 28
Para sa mga baguhan sa tradng industry sobrang malaking tulong ito, ishare ko lang itong mga notes na galing kay Stockrateez. True to life advise for traders who struggles a lot in trading, please keep this always in mind. Happy Trading! 
12 Truths About Trading I Wish I Knew When I Started
By: Stockrateez
12 Truths About Trading I Wish I Knew When I Started
By: Stockrateez
- You don’t have to memorize every single technical pattern. Learn one or two setups and master them. Wait for them like you are a hunter.
- It’s not about the precise candlestick definitions, it’s about what price is telling you. Who is in control and who is losing control? What is the context within the chart?
- Learn fibonacci and how to enter on a pullback. This increases your risk to reward. Chasing breakouts is an easy way to get burned if you can’t read momentum.
- Trade the trend. What’s low can always go lower and what’s high is more likely to continue higher. Support is more likely to break in a downtrend and resistance is more likely to break above in an uptrend.
- You can be wrong more times than you are right and still be profitable. A 2:1 risk to reward ratio only requires a 34% win rate to be profitable. It’s not about what you make, it’s about how much you keep. Risk management first. Always.
- Eliminate the noise. The less on your chart the better. Learn price action in its purest form and focus on only the nearest two key levels. This helps to avoid analysis paralysis. Use indicators sparingly.
- Don’t rely on signals or pay too much attention to social media. Stick to your thesis and don’t let others scare you out of a trade or make you FOMO into a bad one. Find a community with a similar style as yours.
- You can have the best strategy in the world, but it all means nothing if you cannot master yourself. Get a good night’s sleep, forgive yourself for any mistakes you made, and approach the markets with a fresh mindset each morning.
- Focus on the basics and learn them thoroughly. You cannot move on to advanced strategies and theories if you have not mastered your fundamentals.
- Technical analysis is like an onion. There are many layers of what’s happening with price action. Check for key levels, any patterns, candlestick confluence, and volume on multiple timeframes. The larger timeframes always hold more weight.
- You don’t need to trade every day or every hour. The human brain can only focus for up to two hours. Trade 1-2 hours when there’s a setup and be done. New traders make money at the open and give it all back by the afternoon. Learn to be happy with small gains and losses.
- Give yourself time. This is one of the toughest businesses in the world, so don’t expect to get good at it for a couple years. It’s no coincidence that the highest paying job that grants you freedom is also the hardest. Journal everything.
