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Trading: The Ultimate Guide to Making Money

Most people today want to Achieve Financial Freedom. Through the stock market, you can achieve this without doing any business. Day by day, people are motivated to earn more and more money so that they can have a relaxed life without worrying about money. Trading and investing are part of the stock market. I will discuss trading today and guide you to success, so stay tuned…

What is Trading?

Trading refers to the short-term buying and selling of shares. Day trade, for example, involves squaring off positions within the same day. When buying stocks, investors hope to purchase shares at a lower price and sell them at a higher price, making a profit. When selling stocks, investors hope to sell shares at a higher price and buy them at a lower price, making a profit. This is all that we call Trading.

What is Important in Trading?

Every individual should be interested in stock trading. It is the individual’s choice. Stock trading is the fastest path to becoming wealthy. It is the only way to achieve wealth without doing any business. All you have to do is learn how to control your emotions while trading. Without these, you won’t be able to trade. The two things listed above may seem easy, but they are the toughest parts of trading. Thus, before entering into a trade, it’s important to note that it’s crucial to trade for you. You can follow these two steps.

Types of Trading Strategies-

There are five main types of trading available to technical traders: 

a) Scalping

Scalping is a trading strategy in which traders profit off small price changes for a stock. Traders who implement this strategy take about 10-100 trades in a single day. They have a belief that a small move in stock price can give them big opportunities. Many small profits can combine to make large profits, but one mistake can wipe out your entire account.

b) Day Trading

A day trader is a market operator who engages in day trading. A day trader buys and sells financial instruments like stocks, currencies, or futures and options during the same trading day, which means all the positions he creates are closed on the same day. The successful day trader knows which stocks to trade when to enter a trade, and when to exit it.

c) Momentum Trading

Momentum Trading is a trading strategy that is used while seeking a trend. Trades are entered into the momentum trend of the stock to book a big profit. Momentum refers to the tendency for a price trend to continue rising or falling for a specific amount of time, often taking into account both price and volume information.

d) Swing Trading

Swing trading strategy involves attempting to capture short- to medium-term gains in stock for a few days to several weeks. Swing traders use technical analysis to identify trading opportunities.

e) Position Trading

Position trade is a long-term strategy that allows individual traders to hold a position for a long time, usually months or years. A Position trader ignores short-term price movements in favor of fundamental analysis and long-term trends.

Basics Of Technical Analysis

By analyzing statistical trends gathered from trading activity, such as price movement and volume, technical analysis can evaluate investments and identify trading opportunities. In contrast to fundamental analysis, which attempts to determine a security’s value based on its sales and earnings, technical analysis emphasizes price and volume. It consists of the following parts –

a) Candlestick Patterns

There are many Candle Stick Patterns and you cannot learn them all at once. It takes experience and time to master them. Let me tell you about the most common and important candlestick patterns. Let’s start with a bullish candle. There will be a candle in which you will see a large body. It is known as the Bullish Engulfing Pattern. Once we see this pattern, we will proceed to the buying option. The second pattern is the Hammer Pattern. In this, the wick is downwards. It is also known as Pinbar Pattern. The pin represents rejection, and the Hammer represents the strength of the trend. An Engulfing indicates a trend that will move in this direction more often. When the Hammer appears, the trend will reverse. No matter the color or position. Or vice versa.

b) Timeframe

Intraday and swing trades are the two main types of trading. Intraday trading takes place between 9 am and 3:30 pm (Indian Standard Time). Swing trading lasts for more than one day. So it is very important to see the charts on the correct timeframe to avoid any risk of losing money. We recommend using the 5-minute timeframe for intraday, but if you have any confusion, you can even check the 15-minute timeframe. In Swing, you should use 1 hour for 5-7 days, and for more, you should use a 1-day timeframe. If you are in Forex or Gold you should use a 4-hour timeframe.

c) Support And Resistance

Support is a price level where a downtrend is likely to pause due to a concentration of demand or buying interest. As the price of assets or securities drops, demand for the shares increases, thus forming the support line. Meanwhile, resistance zones arise due to selling interest when prices have increased. These price levels can serve as potential entry or exit points once a support or resistance area is identified. Because, as a price reaches a point of support or resistance, it will do one of two things—bounce back away from the support or resistance level, or violate the price level and continue in its direction—until it hits the next support or resistance level. Some trades rely on the belief that support and resistance zones will not be broken. Whether the price is held back by the support or resistance level, or it breaks through, traders can “bet” on the direction and then quickly determine if they are correct. If the price moves in the wrong direction, the position can be closed at a small loss. The price moves in the right direction. However, the increase may be substantial.

d) Chart Patterns

Based on what prices have done in the past, a chart pattern suggests what prices might do in the future. The basis of technical analysis is chart patterns, and traders need to know exactly what they are looking at and what they are looking for. Trend lines are identified by connecting higher highs and higher lows for an uptrend, or lower lows and lower highs for downtrends. They are the primary method for identifying chart patterns. The majority of chart patterns are already confirmed by the time they develop, which leaves a large portion of profits to those who caused the patterns to begin with, intentionally or unintentionally.

Here are some of the most common continuation patterns you might find on a chart.

Triangles. 

Wedge. 

Flag and Pennant. 

Gaps. 

Head and Shoulders. 

Double Tops and Bottoms. 

Triple Tops and Bottoms.

e) Tools for Trading

Well, tools are essential during technical analysis. Mainly in Price action. They are primarily used to address the trend and make a prediction from it. They make this process easy. There is nothing to explain this. But remember Price Action is better than indicators but for beginners, indicators are also important.

The main Tools are –

Trend lines

Parallel Channel

Fibonacci Retracement

Rectangle

Long Position

Short Position

Scale

Etc.

f) Indicators

Indicators are another key to technical analysis in trading. But don’t use it too much because it will only confuse you in making decisions. It is recommended for only beginners to use indicators. But don’t use more than 6-7 indicators. Professionals only use Price Action but in some situations, they use indicators but not more than 3. Indicators are statistics used to measure current conditions and forecast financial or economic trends.

Following are some main Indicators –

Moving average (MA)

Exponential moving average (EMA)

Stochastic oscillator

Moving average convergence divergence (MACD)

Relative strength index (RSI)

Fibonacci retracement

Ichimoku cloud

Average directional index (ADX)

g) When to Enter?

Then a question comes that you have learned technical analysis. Now how to enter or how to trade the market. The simple answer to this question is that if you have done everything possible, what are you waiting for. Make a good trading strategy and win the market. Whenever you see an opportunity to enter the market, do it.

h) When to Exist?

The decision of when to exist must be made at the beginning, because only then will you be able to control your greed. Remember not to overtrade because then one wrong step can vanish your account. When you have taken the levels will analysis then from that levels you can easily decide when to exist. As no one can predict in the world how much the market will go. If you look at yesterday’s market chart, you can guess how strong the market was.

StopLoss

In trading, stopping loss is extremely important. The stop-loss should also be determined when you examine the levels. Also, you should set a stop-loss based on the amount of money you are willing to lose. It is also essential to understand that while trading one should also be concerned about losing because then only you will be focused and use stop-loss. You can use Long Position/Short Position tolls to make stop loss and profits.

4 Factors of Trading

Following are the four factors of trading –

1) Technical Analysis

It is necessary to learn technical analysis because without it the below three steps are not of any use.

2) Risk Management

Risk Management is all about using stop-loss and controlling your emotions about being a loser in the stock market. People don’t use stop-loss because they think it’s a complicated concept requiring extensive knowledge. But it is not a big concept this is all basic. Then, when you trade, you must make sure that your stop-loss is this much and if the price reaches the loss. You have to cancel that trade and try it another day. Second stop OverTrading . Ultimately, they blame the wrong market for their losses and start overtrading and vanishing their accounts. This is all about Risk management. If you master this that your losses will be around nothing.

3) Psychology

At a time of loss, having the proper psychology is very important. In times of loss, people with poor psychology tend to blame the market. They believe that the market has deliberately robbed them of their money. But that’s not true. You should always take the lost money as an expense. It doesn’t matter how strong you are in Trading, you will still lose. No one in the world has taken a loss. If you consider losing as a business expense, you will have a positive attitude and you can learn from it.

4) Life Management

There is not much to say about Life Management, but there is a lot to say about Action Management. In Life management, you have to take care of your body in all three aspects. Mentally, Socially and Physically. In the mental Part, I suggest you do meditation for at least 30 mins daily so that while the time you trade you can control your mind and emotions. Just stop avoiding what people say about you in social situations. You should never present to anyone at any time. You should only take time for your loved ones like parents, grandparents, brother/sister, etc… Also, stop going to parties or any other place which wastes your time. And at last, Physically you should de exercise daily, eat healthy food, take care of your body and only drink water. Following these steps will change your life and make you more determined.

Conclusion

Lastly, remember that trading is gambling if you trade without the knowledge or using someone else’s tips. If you want to become a trader, then you should learn all these steps. Then you will be called a trader. You can see all the content on this website. Join the Forum to communicate with people who can answer your questions. My team is active all the time and will help you too. But I must tell you that you should click all the links to read my content because it is impossible to give all your knowledge in one blog post. Do not trade after reading this blog. You are the only one who knows something about trading from reading all the blogs. During my struggle time, I also read many blogs and only then obtained theoretical knowledge about trading. However, a complete understanding comes with practice only.

I hope this makes sense. If you have a good experience on our website then plz comment on your thoughts and recommend it to your loved ones.

Thank You!!

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How To Become Rich Fast – The Truth No One Tells You…

Let’s bust a myth today. How were you taught to become rich as a child? Well, the myth is that you shouldn’t think about money. It is a useless thing. You can consider it after completing your studies and earning many degrees. If he/she is making money faster or earlier, then they are doing something illegal. People have created a belief system that the only way to become rich is by doing illegal work.

Fast has no definition. For each individual, it means something different. This is all a matter of belief. You need to break your belief system because if you don’t break it you will not be able to achieve financial freedom.

How to Become Rich Fast?

To become a millionaire, we must work on demand and supply. We must sell value to people in exchange for money. Value can come in the form of a product, service, etc. Although you have to become a good salesman like Steve Jobs. Without him, Apple would not exist. To sell your product, you don’t have to go door-to-door. Just learn how Big Business Tycoons do it. You have to think differently than the average person.

As an example, you have chosen a product that is a water purifier. This purifier has an MRP of $1000 and a profit margin of $500. It is easy to achieve that much margin since the manufactured cost of the products is low. Divide one million dollars by the gross margin if you want to make one million dollars. To generate 1 million dollars, you need to sell 2000 units. All of this depends on the belief system, which is how long you can sell these units.

Marketing

But if you don’t want to hire anyone or if you dint have to hat much money. Then there is only one way to do marketing to build your audience. Follow how big companies do their marketing and try to do a similar thing. But this will a lot of time. An important point about this is that your audience is your audience, not someone else’s, and they will trust you more than anyone else advising them about your product.

Conclusion

There is only one thing to conclude, and that is that this is the only way to become rich fast. No one can stop you if you follow these steps. Your earning potential is limitless. You can make as much money as you want. You can either become rich fast or become rich slowly. Both are equally important and can work in parallel. However, you need to be consistent with this to succeed.

Thank You!!

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How to Get Rich Slowly but Surely?

You all are listing a lie that the rates are increasing rapidly. Every one of you claims today that the prices of all the items you buy, whether they are groceries, petrol, diesel, etc., have increased. Since today only have purchased petrol, groceries, etc… You will think whether you are listing a lie or that I am lying to you, as their prices are increasing rapidly. However, here I am right because your currency’s value is decreasing. Rates are not increasing. Your father or grandfather told you that when they were young, they could buy a lot of sweets for $1 only. Today, you can’t buy that many sweets for $1. Even those items you can buy today for $10 shortly, you won’t be able to buy those with that much money. I hope you understand what inflation means. Thus to become rich this was important to understand.

Now understand that when you keep your money in the savings account bank gives interest on that money to about 0.5% to 3% worldwide. But they always give you the interest lesser than the inflation. If you keep your money in the bank, the value of your money is decreasing every day.

How to become Rich?

Investing in assets is the only way to solve this problem. These assets will multiply your money over time with tremendous growth. You could consider assets to be gold, stocks, land, etc… You will see Magic Formula if you imagine that you have invested in the right stock or SIP. The growth will be astounding. Millionaires and billionaires follow this formula.

Follow a rule that ” If you can’t afford it thrice don’t afford it “. For example when you buy a $500 video game so follow the above rule and at the same time invest that same amount of money in assets. How simple is that to become rich or even become financially stable.

Rule of 72

If you want to know after how much time you will double your money, follow the rule of 72. Simply divide the given rate of interest by 72. Imagine you get a 12% rate of interest so divide it by 72 and you will get 6. This means that your money will be doubled after 6 years. Do not worry that where we will get a 12% or more rate of interest,  you can get that much interest in Stock and SIPs.  Now I can even prove this to you and can teach you the Magic Formula.

I know you would wonder if you didn’t have 2cr to invest. I agree with you, but you can invest the money you have. You can invest 20,000 rupees and after 60 years with 12% interest, this will be 2 crores.

Conclusion

In conclusion, I will only advise you to start investing immediately. You might be asking yourself, “why to get rich slowly?”. Why not fast? Well to become a real millionaire both of these works parallel. Both are equally important. I have a question for you as well. You have seen 2cr become 2048cr in 60 years with 12% interest. Tell me the amount in the comments of 2cr with 15% interest in 60 years.

Thank You !!!

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What is Financial Literacy? Everything you need to know …

Today, a lot of people know about finances. Saving and investing are difficult for many people due to a lack of financial knowledge.No matter whether he is a beggar or a business tycoon, financial freedom is important. Beggars can become rich through good financial knowledge, and business tycoons can become beggars through false financial knowledge. This is the game of knowledge and confidence. Every few years, the Financial Industry Regulatory Authority (FINRA) issues a short financial literacy test as part of its National Financial Capability Study. The test measures people’s knowledge of interest, compounding, inflation, diversification, and bond prices. And the result was almost 0%. However, I was able to achieve Financial Freedom in just six months. You can also achieve financial freedom in six months.

To be financially literate is to know how to manage your money. Find out how to pay your bills, how to borrow and save money responsibly, and how to invest and plan for retirement. By learning the basics of money management, you can become a smart spender through self-education and growing your financial knowledge. Putting time into your financial development improves saving and investing decisions. By leveraging resources—like age, talent, money, and the ability to establish good habits—you can build a long-lasting nest egg. Now let’s continue …

What Is Financial Literacy?

Financial literacy is the knowledge and application of various financial skills. These may include creating a budget, understanding how credit works, and saving for retirement. It is a life skill that one must grasp for good financial well-being. Financial literacy includes budgeting, investing, insurance, and loans and interest.

Why is financial literacy important for you?

Our responsibilities are increasing, so financial literacy is essential. A financially literate person has the knowledge and skills necessary to manage their money effectively. Savings and investments would be weak unless one has a solid foundation of financial knowledge. It helps them understand economic concepts better and enables them to manage their finances efficiently. It helps in effective money management, making wise decisions, and achieving financial stability.

Conclusion

Financial literacy is a major life skill as it increases financial capability. Improving financial literacy will have a profound impact on people and their ability to provide for their future. It consists of planning finances, managing budgets, savings, etc… To improve financial literacy, one must first understand its components. One can always begin their investment journey even after they turn old. However, starting early has its benefits

So let Quick Journals help you to build financial knowledge by visiting more blogs on our site and we will help to convert savings into investments and guide you in achieving life goals.

Our blog should be able to help you to better understand financial education, so please leave us a comment below about your experience with our site. Thank you! 

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How to Achieve Financial Freedom in Less Than 5 Years?

Financial freedom is a lifetime dream for many people, but it can only be achieved correctly. You have to know what you are doing and how you are doing it. I am going to tell you 7 Proven Methods to Achieve Financial Freedom. Take your time and read it carefully.

What Is Financial Literacy?

Financial literacy is the knowledge and application of various financial skills. These may include creating a budget, understanding how credit works, and saving for retirement. It is a life skill that one must grasp for good financial well-being. Financial literacy includes budgeting, investing, insurance, and loans and interest.

Making major financial decisions is often taught through financial freedom. Moreover, it increases financial discipline and financial capability. Also, it will lead to major lifestyle changes, such as saving and investing regularly, managing liabilities effectively, and achieving life goals efficiently. Additionally, financial Freedom will protect one from financial fraud and ensure financial security.

Steps to Financial Literacy

These are the 7 Proven methods to Achieve Financial Freedom –

1. Prepare a budget

To understand your financial situation, you need a budget plan. It will give you an idea of how much you should spend on your needs and how you can save money for emergencies and invest that money. Without a budget, you will not be able to control your finances and stop overspending. This will be your first step towards financial freedom. The steps are: Step 1: Calculate your net income. Your net income is the basis of an effective budget. Step 2: Track your spending. Step 3: Set realistic goals. Step 4: Make a plan. Step 5: Adjust your spending to stay on budget. Step 6: Review your budget regularly.

2. Understanding Your Credit Score

a) What is a credit score?

An individual’s credit score indicates their creditworthiness, or their ability to repay debt. Usually expressed as a number based on the person’s repayment history and credit files across different loan types and credit institutions. The credit score is also known as a credit rating.

b) Something important to know-

A credit score indicates whether or not a person is trustworthy. Every time you take a loan or pay a loan, everything is noted and represented in your credit score. If there is an issue in your regard, your credit score is decreased and this is a really big issue. When your credit score is low, you won’t be able to obtain a loan easily, and if you do, you will have to pay a lot of interest to the bank.

c) Steps to raise your credit score-

Check your credit report.

Pay your bills on time.

Pay off any collections.

Get caught up on past-due bills.

Keep balances low on your credit cards.

Pay off debt rather than continually transferring it.

3. Open a Savings Account

For saving and investing money, you should have separate savings accounts. As a result, you can manage your money easily and obtain interest from the bank as well. This means that your money is safe and secure, and the bank can even offer you insurance and security.

4. Understand your loans

You must understand your loans systematically. Improve your credit score and avoid paying high-interest rates. Pay your interest first, then the principal. By doing so, you will improve your credit score and save money.

5. Get ready for Risk

You should always be ready to face any problem which requires money to solve. Like, think about the covid-19 situation, when it occurred due to low finance or people have even not brought any health insurance and due to lack of money to go into a great depression. So always after doing the above steps save money for this and if you cannot then have insurance. Currently, companies provide insurance with low interest also.

6. Secure your Future

You should plan for your future needs so that you can have enough to enjoy for the rest of your life in peace with your loved ones. You should then determine your retirement spending needs, such as monthly bills, grocery bills, and medical expenses. Decide if the retirement fund will be able to generate the required income after taxes by calculating the investment rate of return. Save money and invest in appropriate assets for retirement.

7. Spend Wisely

To achieve financial freedom faster, you must control your money wastage. It is important to understand where to spend money and where not to. You can wear shoes for $500 if you are not interested in having shoes for $2000. If you do this, you will save almost 1/4 of your salary. This will help you achieve financial freedom.

Conclusion

In conclusion, I will say only this: to achieve financial freedom, you must be disciplined. You will only find a path to success by following steps, but it will be only your wish to follow that path and succeed in your goals. In all these steps, if you have any problems, you can ask in the Forum. We will help you to achieve your life goals by converting savings into investments and providing you with guidance to achieve financial freedom by visiting more blogs on our site.

So please leave us a comment below about your experience with our site.

Thank you! 

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