Hey guys I am a newbie I’ve been practicing for a long time on and off now and I fall somewhere between scalper and day trader. I’m here to ask for help setting limit stops I’m pretty good for stop losses. Which tech indicators truly work best? how long do most of you hold a trade? I’m having a hard time and just need some good advice!!
My advice is to pick a general time frame that you like to trade based on your personality. I personally like the 1 hour chart.
Then look around for people who are successful trading that time frame and learn what they are doing. Take their class, buy their ebook, whatever it takes. Next, take that system and backtest it to see how it would do historically.
If you don’t like how it trades, try something else. There is no one silver bullet that will make you a successful trader. You have to take into account your mind, a compatible method and you have to put in the time to learn how to trade it well. What works for one trader may not work for another.
That probably isn’t what you wanted to hear, but it is how it works. Good Luck!