How to Get Consistent Profits on Stockity: Simple Techniques and Tips
Hello, guys! For those of you who are just getting started to play at Stockity, or for those who have been trading with frequency but have failed to learn how to gain more consistent profits, then this article really suits you. Indeed, it’s fun to trade at Stockity. But without the correct technique and strategy, the results are really fluctuating and unclear. So, to let you earn more stable profit, let’s take a look at some of the following simple techniques and tips!
A candlestick is a certain kind of market language that may provide us with signals about the direction in price. If one has been used to trading, he often sees green and red candlesticks on the chart. But it is not just the color that matters; the pattern this candlestick makes can provide information if the price is to rise or fall.
Some basic patterns that usually appear are doji, hammer, and engulfing. Usually, doji appear when prices are confused, meaning there is no trend that dominates. The hammer appears if the price goes down but there is a possibility it may bounce up once again. Engulfing can be a strong signal for a reversal. By knowing the candlestick pattern, you will have an idea about the direction of the price without guessing anymore.
Support and resistance are very simple but powerful. Shortly, support is the level of price where the asset tends to stop falling, while resistance is the level from which the price tends to stop rising. Knowing the levels of support and resistance will allow you to make better decisions.
For instance, when the price is getting near the support level, and it has failed to break through below the barrier, then that will possibly be the buy signal. If the price is near the resistance level, then you can start preparing yourself to sell. In this way, you can gain more safely because you catch the important points, which are often used as references by other traders also.
Moving Average, or MA in short, is a simple indicator to spot the direction of the trend. At Stockity, many use MA10 or MA20 to spot short-term or medium-term trends. It is straightforward: if the price is above the MA line, that means uptrend; if the price is below the MA, it means a downtrend.
Normally, if you catch the price swinging above the MA10 or MA20 line, it is an indication of the trend’s strength, and at that time, you can open a position according to the direction of the trend. For example, if the price lies over MA and is trending upwards, it means the profit opportunity will be greater when you open a buy position. If you already understand MA, try combining it with Bollinger Bands (BB) so the prediction is more accurate. Bollinger Bands consist of an upper band, middle band-usually MA20-, and lower band. If the price comes closer to the lower band, this could be a signal that the price will bounce up and vice versa if it approaches the upper band.
A good example of this could be if the price is above MA20 and is headed towards the lower band-this is a strong buy signal, considering that the price is very likely to go up once more to the middle or upper band. Such a combination of MA and BB will give you more confidence when opening your positions.
Don’t Forget Money Management
Money management is just about as crucial as the strategy for trading. Many traders fail just because of a lack of clear money management-aka, just all-in. In fact, consistent profit comes from keeping our capital safe even when we are in a losing position once or twice.
Try the 1-3% of your total capital for each position. So, when your capital is IDR 1,000,000, you are better to use only IDR 10,000 – IDR 30,000 for each position. That way, when you are wrong once or twice, your capital will not immediately run out. Proper money management can make you more relaxed because each position does not drain your capital too much.
In trading, so many people are still stuck in a mindset of FOMO, or the fear of missing out on a trend. As soon as they see something they want, that is, the price continues to go up, they immediately rush into a position because they’re afraid of missing out on profits. Actually, most decisions like this do not use mature analysis and often end in losses.
In order to stay away from FOMO, one must try to be more disciplined regarding the strategy put together. Remember, the market is always there, and opportunities have always come. So, it always works to be a little more patient and wait for the right signal rather than rushing into it and then losing.
Guys, trading on Stockity can really give consistent profits as long as we have a mature strategy and are disciplined in its implementation. The main key here is not about getting big profits in a short time but how you can consistently profit in the long term. Starting from understanding candlestick patterns, using support and resistance, to disciplined money management-all of these will help you achieve stable profits.
Above all, hope above tips can help you consistently profit and reduce the risk of loss. Trading is a long journey; just be patient, keep learning, and enjoy the process!
