Post
Topic
Board Trading Discussion
Re: A guide for beginners to learn trading
by
judaspriest
on 11/02/2022, 06:16:21 UTC
I was reading your support and resistance explanation and you actually made it clear that the longer time frame is better for it compared to short time like 5minutes time. That is true and you have made good chart there and help to beginners.
But about the support and resistance, for daily traders sometimes support and resistance is not what you need because is just a short time trade. Candlesticks are important if you are a swinger or short time trader.
Time frame in crypto currency and any others trading platform all depends on individual traders though am not in anyway against op view that long time is more better than like 5 minutes chart.
We should always have our own time frame, what works for you should be your edge against the market and this is not about trader vs trader, this will always be against the market so better to be prepared always. Trading is very tricky, you can lose money without knowing it so better to analyze properly and this is the only way to win.
Yes, that's how trading is and is very complex, we can't just rely on buying when the price goes down and selling it when the price goes up,
in trading we need knowledge and analytical techniques,
Besides that, mentality is also one of the important things