Chart is the first interaction point between a trader and the market. Many traders look at the same chart, at same price at the same time, but one makes a bullish where other makes a bearish trading decision. This is what drives the market and trades take place. In general only one of two trader is correct and sometimes both are wrong in their decision as market remains sideways most of the time. So, the bottom rule is one needs to get a very strong understanding of the chart reading and one must have a setup on chart which he should follow.
Less Trade But Best Trade is the key for successful journey in trading
A very disciplined approach is required for chart reading and one must follow all the rules carefully before executing a trade. One should never try to do frequent trades, instead one should wait for the right trade setup and then use the opportunity.
We strongly believe and even discuss with our members that a SETUP is required by each and every trader which may vary from one trader to another to be able to read the price properly.
A Setup is a combination of various indicators or it can just be simple candlesticks which one can use to analyse the charts. But the most important thing is to finalise a setup for yourself and tune it with a time-tested process to suit your trading preference. Trading preference means you may be a intraday trader or a swing trader or a positional trader. Accordingly the setup must be tuned through a time-tested process in which the setup goes through various modifications which has to be done by you.
Stick to your SETUP when it Fails, It will reward you multiple times when it Sails
We discuss and share several SETUPS with our esteemed members which has worked for us and most importantly the way in which it has worked for us. We also align it with DATA which helps us analyse the pulse of the market along with a customised indicator and TIME. This Leads us to the World of MULTI-CONFIRMATION