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Technical Analysis Knowledge Branches - Coggle Diagram
Technical Analysis
Knowledge Branches
risk & money management
risk / reward ratio
stop loss / take profit
also wise to consider entry conviction
ratio of how worth it is it
plateau money management
concept
goal = money * 2.5
after reach the goal = withdraw the initial money, and set new goal with the same format
example
goal 1 = Rp. 3.000.000, initial: Rp. 1.200.000
goal 2 = Rp. 4.500.000, initial: 1.800.000
crowd psychology
"not one who chases, but one who knows what people are chasing"
mindsets & psychology
"if we place a bet in a gladiator, we immediately think the prospect of the gladiator we put to go higher a lot"
dangerous if
place on the wrong stock
great if
place on the right stock
tips to overcome
analyze stocks
without
feelings
before buying a stock = rational & emotionless
after buying a stock = highly biased emotions
create and follow a
logical
plan
focus on the setup, not the result
result
"I want to make 10jt in one trade"
this will make a trader to see many opportunities, while there are none
setup
"I want to trade with 3 bars/patterns/etc"
this follows the mindset of
measure 1000 times, cut once
with an
exception of
be agile if the setup started to disappear/don't' work
"retreat is a perfectly legitimate military tactic"
it's okay to take small loses than big loses
as long as it's part of the plan, plan your trade and trade your plan!
"fear will ruin you (cutting too early), bravery will also ruin you (staying on a losing trade)"
be neutral with emotions!
complete rationality
achievable by
following setup
plan your trade, trade your plan
ideas to keep in mind
let the market lead
market moves in cycles
people react the same reaction
market moves irrationally
most people are irrational
discipline before vision
"
do you want to be right? or to make money?
"
focus on minimizing risk
be discipline with your setup
never chase a trade
wait for a setup
if occurs, execute without hesitation
avoid over optimistic, and over pessimistic