Hello Everyone , As my vacations are going on , I have some time to write.
Last week i was in Armenia to run my 3rd Half Marathon , the race was beautify on a hilly terrain and i fully enjoyed completing it , I will write about my trip soon , but let me tell you how i made few hundred dollars before the race and not using a penny from my primary income source ( My job ) to travel. Lets get started how to find basic trends in the market
Take a look at the below chart of BSE SENSEX INDEX
- One purple line connecting the lowest price point to highest price point ( Primary Uptrend)
- Then there are 5 lines ,numbered from 1 to 5 ( secondary trends)
Learning technical analysis and then trading is a long method and always recommended However you really do not require to learn all aspects of it , just few are enough to get started, the basic one is to find trends in the market.
Few tips to find trends
- Study more and more charts and try to create trend lines as shown above in the chart
- See the charts from different time lines ,Daily chart, Monthly chart , Weekly chart..
- Always look at higher time frame chart first and then scale down slowly to Monthly charts ,daily chart and then so on so forth
Day trading happens seeing a smaller time frame charts mostly 4 hour chart, 30 Mins chart and even Smaller time frames which is 5 & 1 Min charts, however Buy Or sell decision should come seeing and depicting the primary and secondary trends – which means once you find the trends in the markets , you will place a trade in the direction of market , not against it . Mostly people loose because they lack the basic knowledge to trade in the direction of market. Try out finding the trends in markets You may look at charts at https://www.tradingview.com/ for free
Caution Note : Finding trends is the first step , Do not hurry to place your first trade Always try placing a trade on a virtual or demo account , once you feel you are more confident , then try using a real account
Stay fit , keep learning
2 Reply on “How to find basic trends?”