Business

How to become trader? What you should learn?

There are three or more kinds of trader such as:
1. Short term trader (range of few days to few weeks) is very risky and unpredictable.
2. Middle term trader (range of a week to a few months)
3. Long term trader

Before trading in  stock market or futures market, gold, currency, bitcoin, and more. You should study in trading strategies as basic finance fundamental, economic, and chart or graph pattern (indicator)

Chart Creation and Markup
the ability to display three different time frames simultaneously the ability to plot technical indicators, such as

  • moving averages (EMA and SMA),
  • relative strength index (RSI),
  • stochastics
  • moving average convergence divergence (MACD)

Setting up the Indicators
If you choose to use more indicators than shown here, you will create a more reliable system that will generate fewer trading opportunities. Conversely, if you choose to use fewer indicators than shown here, you will create a less-reliable system that will generate more trading opportunities. Here are the settings that we will use for this article:

Minute-by-minute candlestick chart

  • RSI (15)
  • stochastics (15,3,3)
  • MACD (Default)
  • Hourly candlestick chart
  • EMA (100)
  • EMA (10)
  • EMA (5)
  • MACD (Default)
  • Daily candlestick chart
  • SMA (100)

Adding in Other Studies for trend lines that you see in any of the time frames

Fibonacci, arcs or fans that you see in the hourly or daily charts
support or resistance that you see in any of the time frames
pivot points calculated from the previous day to the hourly and minutely charts
chart patterns that you see in any of the time frames

source: http://www.investopedia.com

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Categories: Business, Education, Finance

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