Beginner's Guide to Trading - A Promise is a Promise!
Welcome! If you're new to trading, you're in the right place. As promised, as we hit 100 Followers, I'm
sharing valuable resources and tips for beginners. Let's get started!
1/ Important Trading Rules : Here are the most important rules to maximize your profits and minimize
losses:
• Use stop-loss orders to limit your losses.
• Diversify your portfolio to spread the risk.
• Stay patient and keep emotions out of your trading.
• A great Example video(https://www.youtube.com/watch?v=YfhHuqUMz3U)
• Book: Trading in the Zone (https://shorturl.at/DQY2H)
2/ Reading Candlesticks : Understanding candlestick charts is crucial for trading. Here are the basics:
• Each candlestick shows the opening, closing, high, and low prices of an asset for a specific period.
• A green (or white) candlestick indicates that the closing price was higher than the opening price
(bullish).
• A red (or black) candlestick indicates that the closing price was lower than the opening price (bearish).
• Look for patterns such as Doji, Hammer, and Engulfing, which can indicate potential market reversals.
• Example Video: (https://www.youtube.com/watch?v=4Pc_von1wS4)
• Book: Simple Trading Book (https://shorturl.at/GPEmo)
3/ Fair Value Gaps : Learn about Fair Value Gaps to identify potential price imbalances:
• Fair Value Gaps occur when there's a price gap due to a sudden surge in buying or selling.
• These gaps can act as support or resistance levels, offering potential trading opportunities.
• Great Video about it: (https://www.youtube.com/watch?v=zwvtv0gBSdc)
4/ Fibonacci Retracement : Use Fibonacci Retracement to find potential support and resistance levels:
• This tool helps identify potential reversal levels by measuring the peak-to-trough distance of a price
move.
• Common retracement levels are 38.2%, 50%, and 61.8%.
• Great Video about it(https://www.youtube.com/watch?v=cfOITddizSc)
• Video 2 (https://www.youtube.com/watch?v=nYKpik-o8zI)
5/ Elliott Wave Theory (my favorite) : Understand Elliott Wave Theory to predict market trends:
• This theory suggests that market prices unfold in specific patterns called waves.
• Waves are classified into two types: motive waves (which move in the direction of the trend)
and corrective waves (which move against the trend).
• Great video (https://www.youtube.com/watch?v=tWTxqfWhU5k&t)
6/ My Favorite Indicators : I only use two indicators that help me a lot in analyzing charts:
• Indicator 1: [TR_main by Traders Reality]
• Indicator 2: [Smart Money Concepts by LuxAlgo]
7/ Track your trades :
Link: https://shorturl.at/q9dOv
8/ Recommended YouTubers : Here are some of the best YouTubers you can learn a lot from:
• [Ross Cameron - Warrior Trading] (https://www.youtube.com/@DaytradeWarrior)
• [Craig Percoco] (https://www.youtube.com/@craig_percoco)
• [The Moving Average] (https://www.youtube.com/@TheMovingAverage/)
(DO NOT BUY THEIR COURSES! everything they have in their courses are on their youtube
Channel for Free (Save your Money!)
9/ Great videos : to learn about Trading as a Beginner with zero experience
Video 1 (https://www.youtube.com/watch?v=l8g-HcjuMKs)
Video 2 (https://www.youtube.com/watch?v=QstdS67Iyv0)
10/ A Tough Road, but Worthwhile : Remember, trading is not easy. It will require hard work and
a lot of learning. But if you stick with it, you can change your life.
If you want to be part of this journey, follow me now and share this post. Together, we can learn
and grow!
PS: I believe in you! I am sure you will make it! Just Learn first please!
Your Psmam
