Your Perspective Can Define Your Success
Perspective plays a significant role in understanding things we see through our eyes!
Things we see with our eyes can be interpreted, and if someone says it is their view, your view need not coincide with theirs.
About the stock market, there is a common viewpoint of the crowd, but that is a traditional or conventional view of all who do not have a different way of thinking and interpreting.
There are chunks of manipulators in the market who take consent of all who plays along to understand what the fuss about the market and its reality.
But is this real? That is where the different perspective comes into play.
What the reality of the market?
There are vast numbers of people taking part in the market and out of them, the majority thinks alike.
So, if you want to separate yourself from the ‘masses’ in the market and have a different perspective about the market, you need to stop using the techniques like time-frames, charts or the trading tools used by these masses.
To get there what you perceive and which is different and you want to conclude things differently, interpret market and stocks differently, you need to set yourself up in a different way to invade the market.
You need to dig deeper into the hole to find out the missing treasure, and you can do the same with the chart, charts which are not used by the regular traders having a common viewpoint.
What will be your moves to this direction?
The time frame is a crucial thing in predicting the markets. Whether you trade daily or for long-term, the time frame is a thing which you need to consider first.
So, your first move has to be choosing a time frame which provides the realistic view of the market.
Most of the traders use shorter to shortest time frames and thus fall off on their face when market changes in another time frame.
Since shorter time frames cannot provide enough information about the market which you need for forecasting the markets rightly, it is always better to use the longer time frames on the price charts.
The price charts thus have to be studied in the light of more extended time frame.
If you are also choosing a short time frame on the price charts, you would not be able to differentiate the type of information you get for a rare point of view or perspective of the market which is different from your competitors.
A longer time frame would not only give you the information you require but also you can track back and check your earlier trades and get an outlook of how you would have performed better using that.
For perceiving markets differently, you need to use different longer time frames for your price charts.
This step is very crucial in making the correct decisions about the market movements.
The second move is to use trading techniques which are unique and rare.
You cannot just interpret things differently if you use the same techniques as your competitors do or the tools they use for analyzing the market.
You do not have to stick to those conventional charts which are used by the majority of the day traders.
On the contrary, you can use non-conventional, rare and unique charts for your market predictions.
Once you look at these charts, you can gauge that these charts are inaccessible to most of the traders in the market.
These charts are exclusive to the cluster of people, who have put in their dedicated efforts, a considerable amount of time and required an amount of money to attain the success at every stage and have proven results which are far beyond the regular and indifferent traders.
That takes you to the last and the final step of this incredible journey.
Trading is a profession where you have a lot of risks, but you can mitigate those risks by using the right risk-management tools and techniques.
Once you apply those techniques to each trade of yours, you can get three critical keys which can lead you to the profit in the market.
You can find out fantastic market opportunities using these techniques which are a shield against risk as well.
If you want to optimize your profits and stop losing your money and time in the market, you need to full-proof all your trades with risk management techniques.
That is very crucial and significant for successful trading- Divesh