trading indicators decoded

TRADING INDICATOR THAT CAN MAKE YOU RICH

Why TRADING INDICATORS are a must? – TRADING needs a lot of confluence and conviction. A trader needs to be a perfect executioner. Price action is god but God also needs the help of the Demigods to kill demons trading indicators are like Demigods in our trading journey. We should learn to use these trading indicators the right way so we can execute our trades with conviction.

TRADING INDICATOR – RSI EMA(RSI) WMA(RSI) (NK HILEGA MILEGA)

The indicator was developed by famous Indian trading mentor NK Sir. This indicator is a combination of RSI(relative strength index), EMA(exponential moving average) and WMA(weighted moving average). This indicator has a very god win rate and be a real gamechanger in you trading.

HOW TO USE THIS INDICATOR?

CONDITIONS TO BUY

  1. ADX ( Average Directional Index) should be above 20
  2. The green cloud line should cross over the red line.
  3. The crossover should happen below 50 levels.
  4. Buy at the high of crossover candle.
trading indicator guide image

CONDITIONS TO SELL

  1. ADX ( Average Directional Index) should be above 20
  2. The RED cloud line should cross below the red line.
  3. The crossover should happen above 50 levels.
  4. Sell at the low of crossover candle.
trading indicator that can make you rich
  • RISK REWARD RATIO should be set as per your convenience.
  • A better way to book profits is using support and resistance zones.
  • Pivot points can also be a good way to determine exit points. Target 1 or 2 pivots.

That is all about the strategy also Make sure you Backtest in your free time and Forward test the live market. Determine your proper entry and exit points before entering into a trade. Always follow a strict Stoploss.

IMPORTANT REMINDERS –

  • No Indicator is One hundred percent accurate. Indicators should always be used in confirmation with price action.
  • No matter how many strategies you learn, how many paid courses you do, and how many indicators you use no one can teach you to control your emotions. Psychology can only be developed by trading real.
  • Never forget to journal your trades.
  • Small Losses – Big Profits.
  • Strict STOPLOSS is a must because a stop loss helps you cut losers at right time and you won’t end up holding a losing trade.

FOR MORE SUCH IDEAS KEEP VISITING

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  1. Pingback: Banknifty scalping strategy that makes 200 points every day. - Hustle life

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