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Some knowledge needed by a Trader.

> *Hello everyone, after a few articles about the experience, common diseases of traders, the importance of ptcb, ptkt and trading psychology, today I want to share with you some basic knowledge to Get started with trading. * ## – Things that need to be mastered to enter with Trading. (This one I also collect and collect) **1. ** Learn and get familiar with and understand Japanese Candlesticks. – Open a chart to analyze the price of a coin, the first thing we see is definitely the chart and most of it is a daily candlestick chart. So first we need to get acquainted with the red and green Japanese candles. – My experience: You also don’t need to remember the names of the candles like: Mazubozu, Hammer, Inverter hammer, Doji … do nothing for tangles. You just need to understand the parts of a candle such as: Candle body, Upper candlestick, Lower candlestick, you can understand the psychology of the market. For example: A candle with a large body and short beard is a candle with strong buying and selling power. A candle with a long upper beard but a small body indicates that the selling trend is overwhelming the buying trend and the price is likely to reverse…. – If you understand the nature of the candles, then you guys. You will understand why there are pairs and sets of reversal candlesticks and determine the sentiment of the market. – There are many learning materials about candles. In the 4.0 era, if we don’t know anything, we Google ūüėÄ basically whether you will find it or not. **2.** Learn about market structure. – The second thing to know in a trader is to identify the market structure: Many people come in with a trader with a transaction sometimes not knowing what the market structure is, not knowing what trend the market is in. . – The structure of the market as I understand it is the stages of the market: Accumulation phase, bullish phase, distribution phase, bearish phase. The period of accumulation and distribution is like a spring, the longer the spring, the tighter the compression, the stronger the next stage will be. And vice versa. – You have to determine what is a bullish structure, a bearish structure, when the bullish and bearish structure is broken. To better understand the structure, you can study more about Dow Theory, Eliot Waves or you can refer to some books on market structure (For these, you can go to Google) **3.* * Learning about Price Action: – Most people who are new to this class all learn indicators and technical analysis such as: Ichimoku, Bolinger band, Smart monny concept…. And entering orders often do not know the SL and TP areas, this is also the reason why when you enter an order, sometimes the price or bites the SL and then ms down to TP or the price has not reached the TP, then it has returned to the SL zone‚Ķ. – Learning about Price Action, you will learn price action, support and resistance areas of price, Basic patterns, force of price when breaking out of the pattern from which you will have SL and TP zones. reasonable. **4.** Once you have a basic understanding of the above, you can learn more about Wyckoff, the law of supply and demand, auction theory, why prices move up, down….. **5. ** Determine the level of risk that you accept when entering an order (Understanding the word Accept) and then learn reasonable capital allocations. Remember the money is yours, if you can’t manage it, who will. **6**. ….. *- This is the knowledge I also consulted and collected, if there are any deficiencies, you can add them to suit yourself.* > I quite like the sentence: Gambling with knowledge. it’s like investing, and investing blindly is like gambling. – Good luck. #MYG

Source: Collector



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