Let me start with my side of the story.

In my previous article, Young generation should invest in stocks. I talked about How I started investing and why the young generation should invest.

Yes, anyone can start investing, or jump right into the graph of those red and green bars. But it’s not that easy to catch the trend. Everyone should know too, TO TRADE OR NOT TRADE.

So, opening a chart without having any knowledge or without analyzing taking a trade is more than being foolish. Yes, thinking about money, dreaming about money, and spending a lot of money is not so hard but making money is very hard. It’s a long process.

Opening a trading chart and setting it in different time frames using indicators is not enough. Without analyzing the market, trailing the stop loss, and failing in it multiple times, no one can reach there. Even I used to think, All I have to do is open the chart and set the time frame and a lot of indicators that’s it, it’s done, see it’s that easy to take a trade and make money.

No, a big NO, this is not how the market works. Yes, it’s easy to see the graph going up and down. Do you know where to enter the market? where to exit the trade? No. This is what exactly I am talking about. See it takes a lot of time to know the market and the hardest part is controlling your brain.

Now let’s come to the point.

It is very important to know the basics of the market. Starting with time frames we should know what suits our system. Next is support and resistance, then the trend of the market, where to enter, where to put stop loss, and when to exit. These are a few important things you should know.

Simply, you can make money when the market is in an uptrend or downtrend. But what if the market gets reversed? Exactly, this fear. It’s very important to know the market sentiments first, then analyze them, set entry and exit points, and then take a trade. Preparing your mind is also one of the most important aspects of trading.

So, it’s important to know the market from the basics to reach your goal. Where to enter and when to exit? plays an important role in your trading journey. If you got the answer to this question, it would fill the gap of the distance between you and your goal.

I will discuss this more deeply in my next article.

Also, making money should not be your goal, knowing the market properly should be your goal.