Support and Resistance how to help traders
Support and Resistance how to help for trades why I choose this content
because this is one of the major parts of the trading most beginners of the
stock market don’t have any idea about Support and Resistance so I thought I
want to share something about this to you. most of the beginner traders didn’t
have any idea about why to take the trade this is the major drawback of most
beginners. Before going to trade you must ask some questions to, yourself like
why this share I choose, what is the motive like that, these questions will
give you some clarity for the trade. If you want to become a professional
trader you must require some qualities that qualities will makes you a
professional and successful trader but you have to follow that.
How to become a professional and successful trader
All traders want to become professional and successful traders but only a few traders become successful traders why this is happening where the mistakes are happening? You can see most unsuccessful traders and investors will criticize badly the stock market like it is gambling, they are fooling you this is risky like that. The stock market has many risks but you can avoid that risk with your intelligence when you have done, your job perfectly then you will not face any risks in the job that applies to trading and also investing. Before entering into the market you must understand about it well.
1.Proper knowledge about the market
without any proper knowledge about the market, you can’t become
successful most unsuccessful traders and investors didn’t have proper knowledge
you have to understand that first. Before entering into the market, you must
decide what you want to be a trader or investor then you have to improve you’re
knowledge and skill for that.
2.
Work plan
You must plan your work if you are a trader you have to plan well,
otherwise, you will be facing many losses so planning is the first step of
anything so plan well. Here discipline is the most important one for all
traders so you must discipline like you must know how to manage your risks and
how to manage the money when you understand that well you can become a
successful trader.
3.
Proper knowledge about trading
Before the trade, you must have proper knowledge about trading. You have
to study what is trading how is happening and you must understand the chart
analysis otherwise you can’t trade. Trading is a skill so you require good
practical knowledge and experiences so beginners don’t try to trade if you
trade without any proper knowledge and experience you will face huge
losses.
4.
Patience
Patience is another skill this is required of all traders the most
drawback of retail traders is a lack of patience. When you understand well the
market then patience will create automatically.
5. Maintain records
Maintain a proper track record is the important one for all traders once
you achieve the target or make a profit from the trade you have to record why
this trade achieves the target, what is the trend know, what kind of strategies
have to use like that.
These kinds of activities will make you a professional trader in the
future so before the trade, you have to follow this definitely will make
changes to your trade.
Support and Resistance
All traders have to know well about how to analyze the chart. Chart
analyzing is always decided what kind of step has to take the trader so every
beginner trader should know how to analyze the chart. Every trader must
understand what is support and resistance if the market goes uptrend that will
not go unlimitedly there automatically will create resistance that is
controlling the uptrend. If the market goes downtrend that will not fall
without any control there will create support. This is the simple definition of
support and resistance.
Why the support and resistance are creating
Most traders didn’t know why this support and resistance is creating.
Only because human emotions are behind in this secrete you have to understand
that first. Whether is support and resistance are creates you have to
understand because human emotion is behind there.
For example, the gold price is 2000 per gram then demand will create
automatically then most people will buy the gold. if the price goes 3000 per
gram, then people will not ready to buy then supply will create automatically
then the price will fall.
This same process is happening in the stock market when the share value
will low the traders will buy that share when the share value goes higher start
to sell. when the demand goes higher in the market their resistance will create
automatically when supply creates the support also will create there.
Conclusion
Support and resistance are the most important part of the trading chart
each trader must understand what is support and resistance how that’s creating
then only the trader can decide to trade or not. Before enter into market
traders have to know the basics of the trading that’s the most important.
Trader ultimate motive only has to profit not the trade you have to keep in
mind always.
I hope this content you understand well
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