Unlock Your Financial Freedom: Master Trading in Just 3 Simple Steps!

 

Did you know if you are trying to cover your position in trading, you are increasing your losses? Many innocent traders fall into this trap. When you are making a profit, it’s the time to add a position. Smart traders always keep an eye on volume because if a coin has a large volume and low consolidation level, this coin will definitely give them the best results.

Step 1:

1. Identify the trend first.
2. Watch the daily, hourly chart, and learn what’s going on.
3. What is the key position, and why is it suitable for you?
4. Does this key position generate enough entry signals?

The first step is not as simple as it looks. You need to pay attention to many factors, for example, the coin you are going to buy and its status among customers. Why it is valuable for you, and why others will buy from you. After determining the coin’s key factors, let’s move toward the market. What is the current state of the market? Every market has three states: rising, consolidation, and declining. It is also better you make a habit of watching the periodic chart for the market, like daily and weekly.

Three principles

1. Take a long position when the market is rising.
2. Take a short position when the market is falling.
3. If the market is in consolidation, do not trade because no one knows how long it will take.

Step 2:

The market has always looked like a bouncing ball. Sometimes it will rise, and sometimes it will decline, and sometimes there will be no movement or a little bit. In this step, you have to find out how to enter the market, when the market is taking off, and when to exit. How to find the precise key point is the most important skill for trading.

1. Find the key position support and resistance position.
2. The key position of the market is based on where the market currently stands.
3. Every market has three stages: early, middle, and late.
4. Does your target position meet your profit and loss ratio?
5. No one wants to lose money, and you are investing for profit.
6. Assume your profit and loss ratio; for example, if the profit and loss ratio is equivalent to 1:1, it means you only lose $1 and earn $1. If the ratio is 1:5, it means you will lose only $1 and gain $5.

Step 3:

In this step, you will learn to understand the market movement. If you find the market has a big cycle, and it will move forward, then start loading your weapons to target the profit. There are many methods to learn about the key points. Some people are good at MCAD, and some at RSI. Choose your favorite one.

1. Use the MACD indicator to find the key positions.
2. Use RSI to identify the entry position.
3. Bollinger Bands also give you better ideas.
4. Moving averages also give you good results.
5. Trend lines are also effective.

Why we are using these indicators? We are searching the right entry point, which looks like bullish engulfing, and there are many more?

Finally, you have completed three steps for trading. Always remember the following key formula:

What is the trend? Find the key position. What is the signal = successful trading

Trading strategy

1. What you are trading
2. How much will you be holding?
3. What is your direction, long or short?
4. At what point do you take an entry?
5. When to exit, set up your stop loss
6. When to take profit.
7. How to deal with emergencies.

Thanks for reading this tutorial. You have now learned the TLS technical analysis method.