As a beginner in trading market and after studying all what my hands reached in regards of technical and fundamental analysis I can say "Trading is simple BUT not Easy",
My translation to the above can be called "Beginners Worries" which keeps us in the gray areas depending on luck more than standing on concrete,
I'm sure that Experts comments can help all of us to move forward to the light,
for me it's still difficult to answer some major questions:
1- Is this a Trend or Corrective Action that may reverse any time, specially when the higher time frames is not showing clear Trend?
2- What is the best place to enter (not to be too aggressive by enter early and hit my stop loss V.S. not to be afraid to ride the best horse in the rally) if we spend some time watching the price action we can clearly see that after consolidation there will be long candle means that to many traders entered at the same price and time which will be my aim to be one of those traders?
3- If I put stop loss in the technical position many times it turns back and hit before having risk plan like 1:2 should I stick to risk plan or should i accept lower plans (many times it shows less than 1:1)?
4- Should I move my stop loss to the break even area once it's possible (but this increase the opportunity to be hit before achieving the target) or should I stick to the first assignments (some said it'll help you reducing your risks as others see it'll waste many trades from targeting)?
5- What instrument has the priority at this period and why, in the other side what should be avoided?
this was my major worries that I discovered that a considerable number of traders has same, and may be you have other areas you want to clear, hope we share our worries and help each others to answer these questions.
My translation to the above can be called "Beginners Worries" which keeps us in the gray areas depending on luck more than standing on concrete,
I'm sure that Experts comments can help all of us to move forward to the light,
for me it's still difficult to answer some major questions:
1- Is this a Trend or Corrective Action that may reverse any time, specially when the higher time frames is not showing clear Trend?
2- What is the best place to enter (not to be too aggressive by enter early and hit my stop loss V.S. not to be afraid to ride the best horse in the rally) if we spend some time watching the price action we can clearly see that after consolidation there will be long candle means that to many traders entered at the same price and time which will be my aim to be one of those traders?
3- If I put stop loss in the technical position many times it turns back and hit before having risk plan like 1:2 should I stick to risk plan or should i accept lower plans (many times it shows less than 1:1)?
4- Should I move my stop loss to the break even area once it's possible (but this increase the opportunity to be hit before achieving the target) or should I stick to the first assignments (some said it'll help you reducing your risks as others see it'll waste many trades from targeting)?
5- What instrument has the priority at this period and why, in the other side what should be avoided?
this was my major worries that I discovered that a considerable number of traders has same, and may be you have other areas you want to clear, hope we share our worries and help each others to answer these questions.