SHARING EXPERIENCE FOR NEWCOMERS - Part 3.2 - DURING TRADING.
After determining sufficient CONDITIONS FOR ORDER" - (1). Review the monthly, weekly, daily, hourly, and 15-minute, 5-minute history to see the upward/downward trend and check the peaks and troughs.
- (2). Has it reached the previous lowest trough yet (this is very important, as this is where you make or lose money);
- (3). Check the 3 EMA lines (7), EMA (25), EMA (99) and see if the EMA (7) is going up, cutting one of the other two EMA lines yet?
- (4). Slow down a beat, check if there are 4-5 green candles going up yet?" then place the order and continue to monitor the price movement, see if it has matched the order to make timely adjustments for the order to be matched. After that, continue to monitor the next 4 or 5 candles to ensure the price is going up (at this time the mindset is comfortable), continue to monitor the movements because on the way from the trough to the peak there are many times the price decreases and then rises again. There are times when the price is rising very nicely for a long period and then the price goes down equal to or higher/lower than the purchase price when placing the order. If anyone wants to protect the results, they should place a sell order when the price goes down and wait for it to rise again to buy in again. And just keep monitoring until it reaches a price close to the old peak to close (because there may be new peaks that are lower than the old peak).
*** Note:
- Not necessarily 4-5 green candles mean it will go up because when it has reached the previous lowest trough, it may continue to go down to a new trough (if the trend is going down), the old trough is only for reference.
- We will find it hard to know what the new peak or new trough is, so don’t expect to catch the trough or peak. Just need to see within an acceptable price/profit range is good enough.