The Traders category is dedicated to providing valuable resources, tools, and information for traders of all levels. From beginner traders to experienced professionals, our articles and resources cover a wide range of topics related to trading, including strategies, analysis, and market trends.
We can count waves using traditional patterns like Head and shoulders , Double Top and Bottom,
Triangle, cup & handle, etc. This article is about how you can count waves by identifying chart patterns.
I have covered Three chart patterns in this article,
1) Triangles
2) Head and shoulders
3) Double Top and Bottom
1) Head and shoulders :
Many people take to trading in the mistaken belief that it is the simplest way of making money. Far from it, I believe it is the easiest way of losing money. There is an old Wall Street adage, that “the easiest way of making a small fortune in the markets is having a large fortune”. This game is by no means for the faint hearted. And, this battle is not won or lost during trading hours but before the markets open but through a disciplined approach to trading.
1. A successful trader has a trading plan and does his homework diligently 2. A successful trader avoids overtrading 3. A successful trader does not get unnerved by losses 4. A successful trader tries to capture the large market moves 5. A successful trader always keeps learning 6. A successful trader always tries to make some money with less risky strategies as well 7. A successful trader treats trading as a business and keeps a positive attitude 8. A successful trader never blames the market 9. A disciplined trader keeps a cushion 10. A successful trader knows there is no Holy Grail in the market
People don’t believe how simple it is to accumulate a significant amount of wealth, but it really is quite easy. All you need is a bit of discipline and to know the three steps necessary anyone can take to grow a significant net worth. The steps are:
1. Spend less than you earn. This is THE key to getting rich. Said another way, save a portion of all you make.
To spend less than you earn, you may need to earn more or spend less.
2. Invest your savings regularly in good, solid investments. I like index funds.
3. Do this for a long time, letting the power of time and compounding work for you.
That’s it. Yes, it’s that easy.