Hello,
I am a fairly new trader and I am extremely frustrated. I feel like I have information overload and I just can't seem to decide which methods will work for me in the long term. Can someone help point me in the right direction.
So far I have used Bollinger Bands a little and so far they seem o.k not always accurate, but o.k.
Also I've tried the whole moving average crossover ( with trend of course) and I feel like I am not getting in early enough and stops get hit to often.
I am now looking at learning just plain price action, using simple moving average 30,60 and 100 to determine support/resistance levels and also Fibs 38 and 62%. On top of that I am learning about chart patterns... triangles etc and using a breakout of the pattern plus a pull back.... ( this I am learning from the Hector Trader Course) I like the course but there seems to be so much involved in just finding a trade set up...... there must be a simpler way.
I was talking to a trader who used to work at the dealers desk etc for some of the big banks and of course he was offering a course ($3800) it seems expensive, however he suggested that all i need to know if Support and resistance. Can someone please tell me how I would determine good entry and exact points, how to manage the trades like these ( I get stuck with where I should put my profit targets.) I am thinking that I will give it a 3:1 ratio, just a thought. Even a suggestion on some threads that might talk about this etc... would be greatly appreciated.
I am a fairly new trader and I am extremely frustrated. I feel like I have information overload and I just can't seem to decide which methods will work for me in the long term. Can someone help point me in the right direction.
So far I have used Bollinger Bands a little and so far they seem o.k not always accurate, but o.k.
Also I've tried the whole moving average crossover ( with trend of course) and I feel like I am not getting in early enough and stops get hit to often.
I am now looking at learning just plain price action, using simple moving average 30,60 and 100 to determine support/resistance levels and also Fibs 38 and 62%. On top of that I am learning about chart patterns... triangles etc and using a breakout of the pattern plus a pull back.... ( this I am learning from the Hector Trader Course) I like the course but there seems to be so much involved in just finding a trade set up...... there must be a simpler way.
I was talking to a trader who used to work at the dealers desk etc for some of the big banks and of course he was offering a course ($3800) it seems expensive, however he suggested that all i need to know if Support and resistance. Can someone please tell me how I would determine good entry and exact points, how to manage the trades like these ( I get stuck with where I should put my profit targets.) I am thinking that I will give it a 3:1 ratio, just a thought. Even a suggestion on some threads that might talk about this etc... would be greatly appreciated.