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Conclusion :
So it’s better to not get fascinated by so many indicators at the starting of your trading career.
At last, I would suggest using only one strategy at the beginning and testing it, trying a new strategy then testing it too and finding the strategy which suits you and gives you profits. Follow this until you understand the things otherwise, you will become an investor rather than a trader.
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MORE IDEAS ON THIS
Exponential Moving Average (Indicator)
1) Price-based action: EMA acts as good support and resistance. Use 50,200 EMA in 15 minutes time frame.
In the uptrend, if the price comes down to ema and takes support from it then we can buy near it and stop-loss a little below ema. In the downtrend, Ema...
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2) Breakout Strategy :
If price breaks up Ema vigorously(with a big green candle {1or multiple candle can be considered}) then a good uptrend may come and we can buy near it. From this breakout point, the Ema will now act as good support which was acting as resistance before the breakout.
Same if the price breaks...
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Notion page link for all the images used here (but not clearly visible) - https://internal-tumbleweed-664.notion.site/672070fd663e49e09a96168e846491ad
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Overview:
Notion page link for all the images used here (but not clearly visible) - https://internal-tumbleweed-664.notion.site/672070fd663e49e09a96168e846491ad
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Keep this in mind!
Before telling you about the strategy first you need to keep in mind that no strategy will work every time, as the market is driven by various factors. Sometimes your strategy will work and sometimes not.
So our goal is to Increase the Probability of Winning so that in total we will be in p...
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Precautions:
The most common mistake a beginner do is to use so many Indicators and Strategies which makes us so confused and everything becomes so complicated that we can’t even make a decision to take the trade or not and then start taking wrong trades and if it fails then tries to hold it until the price c...
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3) Cross-over (Golden Ratio):
If a short-term Ema crosses up a long-term Ema then an uptrend may come and we can buy at that point.
If a short-term Ema crosses down a long-term Ema then a downtrend may come and we can short near it.
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Want to Trade ? But don’t know which strategy to use ? (for beginners)
If you are new in trading and don't know when to buy/sell, then you should have a strategy on which you will take decisions while trading.
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It's very imp. for a beginner who wants to trade but doesn't know which strategy to use!
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