I am just starting out need some advise

tomorton

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Feb 28, 2002
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#2
I think we're all one or the other.

Entry signals are not the most important element in trading, but we have to start somewhere - what entry signals are you using?
 

tomorton

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#4
Candlesticks are probably the most popular chart design, and show ample information for trading decisions. They recurrently print in patterns that are named and recognised, mostly useful as either price continuation signals or price reversal signals.

Can you be a bit more specific?
 
Feb 21, 2017
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#5
Very difficult to answer this, however if just starting the best advise I can give is discipline, start with the WHY before HOW to trade. Ask yourself why I want to do this and create a plan around that.

Also take a step back before placing the trade and look at why you are doing this. Also trade only once a day with one set up that works well for you, this will make you look for the best trade rather than swinging for the fences every time and over trade which will blow up your account.

After a week or so you will start to see the set ups more clearly and then in the future as you feel more confident increase
 

FLETCHER53

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Jun 6, 2018
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Nuneaton
#6
Very difficult to answer this, however if just starting the best advise I can give is discipline, start with the WHY before HOW to trade. Ask yourself why I want to do this and create a plan around that.

Also take a step back before placing the trade and look at why you are doing this. Also trade only once a day with one set up that works well for you, this will make you look for the best trade rather than swinging for the fences every time and over trade which will blow up your account.

After a week or so you will start to see the set ups more clearly and then in the future as you feel more confident increase
Cheers I have just gone live and won my first trade it may be only 71p but it's a start.
 

tomorton

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Feb 28, 2002
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#14
Thanks, how do I spot signals for a bullish or bearish trends as i keep on getting it wrong.

First you have to have a definition of the trend, secondly hopefully a way to gauge which of 5 or 6 trends available would be the best one for your strategy for you to get into, and the least important issue is thirdly the signal. What is important about the TA surrounding the entry signal is where it tells you to get out in the event of a losing trade.

Moving averages are handy for trend definition and assessment - its about all they are good for. If its a really strong trend (according to your strategy and trend assessment parameters, not just price momentum) many sorts of entry signals will do, though entering an uptrend at a high or a downtrend at a low would probably be a poor example to follow. A bad signal is a late one, so that probably cuts out MA crossovers.

Stop-loss level should be the earliest point where price now has a greater probability of going the wrong way rather than in the direction of your trade.
 
Jun 6, 2018
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Nuneaton
#15
First you have to have a definition of the trend, secondly hopefully a way to gauge which of 5 or 6 trends available would be the best one for your strategy for you to get into, and the least important issue is thirdly the signal. What is important about the TA surrounding the entry signal is where it tells you to get out in the event of a losing trade.

Moving averages are handy for trend definition and assessment - its about all they are good for. If its a really strong trend (according to your strategy and trend assessment parameters, not just price momentum) many sorts of entry signals will do, though entering an uptrend at a high or a downtrend at a low would probably be a poor example to follow. A bad signal is a late one, so that probably cuts out MA crossovers.

Stop-loss level should be the earliest point where price now has a greater probability of going the wrong way rather than in the direction of your trade.
Thank you.