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If you have read my articles 'Daytrading 101' and 'trading psychology', you are ready to place your first trade. But for that, you do need a strategy! Without a strategy, you run the risk of placing trades simply by watching the market move and hoping for a good outcome. Basically, gambling! Strategy consists of analyzing the chart of what you want to trade (stocks, forex, indices), determining your risk/reward, the point at which you make your entry, and then executing this

As a beginner trader, you're faced with a lot of new experiences. Everything is new, and you're still trying to navigate the jungle of tools and strategies available to you. To trade successfully, you need a strong mental base and know when to trade and, more importantly, when not to trade. There will be times when, against your better judgment, you enter a trade. You can't help it because you're falling prey to impulses that have been ingrained in your primal or subconscious

When you start learning to trade, you'll be bombarded with information. Successful trading requires you to master certain concepts and strategies. Information often comes in fragments, spread across various lessons and instructional videos, so I thought it would be helpful to summarize some basic concepts. Candles/wicks The basics of trading. The candles show how much the price has moved and in which direction on each time frame. Green candles indicate that there have been mo