Continue reading...The Basics of Trading
I’ve had a long running thread on the T2W boards giving an introduction to the central themes of trading. This series of articles has been adapted from that thread and will take you through all the areas you need to get a start in trading, from chart reading to defining a strategy.
In Part 1 I will look at:
Basic chart reading
Exiting a losing trade
Setting a price target
Part 2 will then consider:
The importance of discipline
The trading plan
And finally, in Part 3, I will bring it all together by taking you through a simple trading strategy.
Basic Chart Reading
Ok let’s start with the basics of chart reading and deal with Support, Resistance and Trendlines. This really is the core basics of trading, and in my view is the foundation of a trading strategy.
How Candlesticks are constructed.
There are 3 types of bars that can be used for...
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