Trading Secrets

 

Secrets of successful trading Learning and updating continuously: The trader cannot rely on old or limited information, but must always seek to learn new things and follow the changes and developments in the markets and the economy. He must also learn from his experiences and mistakes and try to improve his performance continuously. Planning and discipline: The trader cannot trade randomly or based on intuition or emotions, but must put a clear and specific plan for each deal he enters, which determines the profit targets, exit points, and stop-loss levels. He must also stick to his plan and not deviate from it because of being influenced by news, rumors, fear, or greed. Risk management: There is no trading without risk, but the trader can limit it by following some rules and techniques, such as diversifying his portfolio and not investing all his capital in one deal, using leverage cautiously and rationally, setting the acceptable loss ratio for each deal, each day, and each month, and not speculating with money that he cannot afford to lose. Analysis and prediction: The trader cannot enter the market without studying and analyzing the assets he wants to trade, and knowing the factors and indicators that affect their price and direction. He must also be able to predict the future movements of the market based on technical, fundamental, and behavioral analysis, and use different tools and strategies to confirm his expectations. A simple explanation of candles and understanding them Candles are graphical symbols used to show the price movement of financial assets in specific time periods, such as the minute, hour, day, or week. The candle consists of a body and a shadow, the body represents the difference between the opening and closing price of the asset in the specified time period, and the shadow represents the maximum and minimum that the price reached in the same period. The candle is ascending if the closing price is higher than the opening price, and the candle is descending if the opposite is true. Different colors are used to distinguish between ascending and descending candles, such as green and red or white and black

Candles give the trader important information about the strength and direction of the market, and help him make the appropriate trading decisions. Candles also form certain patterns that indicate the continuation or reversal of the trend, and are called by different names depending on their shape and meaning, such as head and shoulders, hammer, morning star, evening star, and others. The trader must know these patterns and interpret them correctly to benefit from them in trading

These are some of the basic points about the secrets of trading and a simple explanation of candles and understanding them. I hope they are useful to you. If you want to know more about this topic, you can visit some of the specialized sites in trading