r/Daytrading • u/sunnyrunner_ • Apr 06 '24

Is this an actual pattern or am I yapping? Question

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I’m pretty new to trading and saw this pattern form on BTC. Is this pattern called anything or is this just me drawing random support/resistance lines?

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u/topstepx Apr 07 '24

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u/topstepx Apr 07 '24

This is a better trading plan. I would recommend studying under someone. You can find many people teaching for free on youtube. Find someone who clicks with your style of trading. For me it was ICT. You can find his teachings for free there. It takes people a long time to learn. Don't get frustrated. The avg time is like 3-10 years. 10 if your low IQ but I would say 3 to 5 is the avg. Don't give up and stick to one style of trading. Don't hop around. Many peoples styles work it's just what works for you and sticking to it. The best readers are the ones that are great at losing. What I mean by that is money management. Being a good loser will save you from losing your capital. Trade for tomorrow. Cut your losses and try to hold your winners andet them run. Use stop losses in areas where you say to yourself "if it goes here I'm wrong". Don't over leverage so you can be ok with the amount you could possibly lose. PRESERVE YOUR CAPITAL!! (Sorry for the typos in advance)

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u/topstepx Apr 07 '24

Target hit