What are some simple secrets which always work successfully in stock market?
TRADINGFEATURED
"In the years I have been trading, there are 5 secrets I have learned that can help you out"
5 Secrets Work Successfully in the Stock Market:
There is no indicator of profitability by itself. What determines if it’s profitable is how you can trade it. Find indicators that work for you. Too many people chase a perfect indicator. That doesn’t exist. I suggest finding a few and sticking to learning just them.
Watching a big support or resistance? So is the entire market. These levels lead to high percentage chances of shakeouts. You identify a double bottom for example on the stock. The whole market does also. When you get obvious levels like this, you will notice they get shaken out almost every time. What can you do? Wait for the reclaim of that level for confirmation.
You must get a look at the stock on the longer time frame (Daily, weekly, etc.) and not just on short time frames. I always look at stocks from long-term charts into short-term charts. This was something that helped me a ton. First, look at the long time frame levels to get actionable trade levels then zoom in on a short time frame to execute. Multiple time frame confirmation gives you a better trade and setup.
You can greatly increase your win rate percentage by tracking market levels as well as your trade setups. I map out futures for ideal entry points. Tracking the markets is essential when you are trading. The stocks you are trading make up a particular sector index. What does that mean? If we get a bounce on the market, your stock is likely to bounce. Identify key market levels and watch for confirmation then go into taking the setups you had like off these levels.
No people are hunting your stops. You just place your stops at obvious levels, the market sees such whole number levels. Too many people get their stop losses hit because they place it at obvious levels. The market makers know this is where a lot of orders are. Instead, place your orders outside of whole numbers so your stop loss isn’t a weak order.
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