Hello there,
I am new to stock trading and have been following the discussions here for a while. The depth of knowledge and the willingness to share insights in this community is truly impressive. I am hoping to tap into that collective wisdom for some advice on developing a solid trading strategy.
I understand that risk management is crucial, but I am struggling to find the right balance. How do you determine the amount of capital to risk per trade? What are some effective techniques to minimize losses without stifling potential gains?
I have been trying to get a grasp on technical analysis, focusing on chart patterns and indicators. However, I often find myself overwhelmed by the sheer volume of information. What are the most reliable indicators and patterns for someone just starting out? Any recommended resources for mastering technical analysis?
I know that having a trading plan is essential, but I am unsure where to start. What key elements should a comprehensive trading plan include? How do you maintain discipline and stick to your plan, especially during market volatility?
Also, I have gone through this post: https://unofficed.com/lessons/how-do-you-pick-stocks-for-trading-on-the-next-day/golang which definitely helped me out a lot.
Staying updated with market news and understanding its impact on stock prices seems daunting. How do you filter through the noise and identify the news that really matters? What sources do you rely on for accurate and timely information?
Thankyou in advance for your help and assistance.