Keep your charts clean

Published by Sharekhan Education | June 10, 2022

Keep Your Charts Clean

By Micky Gala | Sharekhan Education

It is said that in the stock market very few people achieve success and most traders lose money as trading is difficult. But the fact is, most traders lose their money because they complicate their trading. Success in trading or any business comes from simplicity. Avoid complexity and blindly following others without understanding.

Novice traders apply many indicators in a chart and later it confuses them when one indicator tells them to buy, another to sell and another tells them not to act. The second biggest mistake they make is copying what others are doing and just following the indicator, even if that indicator doesn’t fit their trading style.The excessive complication of the trading process is what leads to bad decisions, frustration and failure. You will need to have the proper knowledge of how to read prices and anticipate the actions taken by market participants. Follow one rule that fits your trading style and follow it religiously. Know your strategy inside and out before applying for it.

Know your trading strategy

Novice traders follow the things others do without reading whether that indicator fits their trading style or not and for this reason, traders always take losses. Always choose the strategy that fits your trading style, a trading plan and risk factors. You should know the strategy in detail and how it will benefit you in your trading and what is the logic and concept behind it.

The other factor is that most of the indicators are used by all novice trades, due to which big players avoid such indicators, which are widely promoted and used. Have you ever felt like there is a camera on your trading computer telling everyone where your trades are? There isn’t, but if you trade as a novice, your actions become predictable and vulnerable. Novice traders commonly use charts with many indicators found in every trading book. This indicator shows how to look at prices on time. But there is a problem with that they are based on past prices and are delayed, you always get a trading signal after the optimal opportunity. This indicator shows how to look at prices on time.

How to trade?

So how should one trade? We need to focus on the price and see where the pros are buying and selling. Some patterns are visible when both groups leave the price charts. Buying and selling with the pros and against the beginners is the best way to achieve trading success. Never buy after a price rally or where there is enormous selling pressure (expensive area) and never sell after a price drop or in the wholesale area. Follow the big players and trade with them. Professional traders have a window on novice decisions. This will become easier with the practice and guidance of tutoring with highly qualified instructors that you will find in Sharekhan Education.
In conclusion, keep your price charts clean and focus on reading the prices to increase your chances of trading success. To find out how to do this, contact your local Sharekhan Education and sign up for a program that will expose you to the correct way to read prices.

By Enrolling in this stock market course, you can learn  the various aspects of trading in Futures and Options.