Understand the Market First
Before diving into strategies, it's crucial to understand how the market functions. Here are some basic tips to get you started:
1. Wait for Clear Trends
Avoid entering trades until you notice a clear breakout or a well-defined trend.
2. Set Wider Stop-Losses
Allow your trades more flexibility by using wider stop-losses, which can help you stay in position despite minor price fluctuations.
3. Manage Your Emotions
Stick to your trading plan and resist making impulsive decisions during sudden market swings.
4. Monitor Unusual Volume
A sudden spike in trading volume without a corresponding price change could indicate potential market manipulation.
5. Focus on Higher Timeframes
Trading on higher timeframes helps filter out the noise of short-term price fluctuations, providing a clearer view of the market.
