Basic trading knowledge: interpretation of support pressure
The market price is formed by the consensus of all participants. For novices who want to trade, being able to interpret "support and pressure" in the market is an essential basic skill for trading.
in short,
Support = the relatively "unbreakable" price in the intraday period.
Pressure = the price that is relatively "unable to rise" during the session.
However, it should be noted that support and pressure are relative concepts and not absolute. Do not blindly judge that the price will not fall below in the future just because the market has produced support at key prices in the past.
Bear market trading rule 4: Know your own trading cycle
Many people clearly want to do swing trading when operating, but they often get too close to the market, resulting in short-term stop losses. In trading, different trading strategies have their own suitable trading cycles.
If you want to play long-term, you must look for opportunities in long-term charts.
If you want to play short-term, you must short-term in and short-term out in the short-cycle market.
If the trading cycle cannot be confirmed before trading, it is easy to cause excessive trading and lose the trading rhythm due to market fluctuations.
Bear market trading rule three: Be patient before entering the market
Many people always over-trade after being stopped. As a result, when the bull market comes back, they do not have enough capital to grasp the big market trend.
Always remember to be patient with the market. If the entry conditions do not meet the trading plan, just wait for the market to appear.
Programmatic trading software that Binance users can also use
Multicharts and TradingView are both mainstream program trading software. Since traditional financial traders are more accustomed to using Multicharts to develop automatic trading strategies, today I will introduce the program trading software Multicharts that is less known to people in the currency circle!
The recent bankruptcy of FTX has seriously injured most people. Today I have compiled some tips for avoiding black swan events. I hope everyone can survive this crisis smoothly.
Introduction to Quantitative Trading: What Program Trading?
Most traders in the currency circle are very unfamiliar with the concept of quantitative trading. In order to let everyone understand the value of program trading, I have simply compiled a lazy package for everyone to get started.
If the post is helpful to you, please like and forward it! Your support will be the driving force for us to continue to produce good articles💪