How to determine trades

Beginner Questions
1

So I have gone through the school of pipsology and it was very informative and helpful. Additionally, I see a lot of trading idea and strategies online (forums and other websites as well as videos). But what I don’t see is how to determine exactly how to pick the entry and exit points (other than that highly priced sales guys trying to shove their product down your throat that promises entry and exit…not saying those are bad or don’t profit but hard to spend so much money upfront).

Basically is there another tutorial, video series or resource that shows that for Fib series: step 1 is to find out certain shape, step 2 is to draw your fib series, step 3 is to look at the green line (or a number) and that is your entry point, step 4 - red line is your exit point, step 5 is blue line is your stop loss point. etc. etc. I haven’t found anything like that… may be I am asking for too much?

Does anyone know of anything like that… or can I spend time with someone who can explain basic things like that for different trading patterns or strategies.

Thank you in advance,
Sanjay

2

You have to learn support & resistant, it’s very much important parameter to determine the current trend status!

1 Like
3

Ok. Before start. Congrats that u finish the pips sch. Before u start u hv to kn what kind of trader u want to b. Short term, long term, scalper ect… What time frame u prefer? Cos every trader hv dif kind of trading patterns. It may b useful to him but may b a disaster to u. Besides naked chart, meaning some trader love to trade price action, n it price action alone without any help of any indecator. And they kn exactly when n where to entry n exit. Where some depend on indecator for entry n exit. This is call technical trader. I’m one of them. If u read some of my tread. U will get what i mean. I’m using psar n ichimoku cloud, this is my main tool for entry n exit. N I hunt for price reverse, people say price is your good friend you hv to follow the price. But my thinking is price is my worker they hv to follow me. Haha… Read my tread n u understand what I mean. Good luck