Support and Resistance how to help traders






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 

 If you want to learn about the financial market through elanmarket courses? use the link in the top bar of the site


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