📈 Plan for long – beginner's version
If you're just starting out and want to enter a long, it's important to have a simple and easy-to-follow plan. Here’s a basic approach:
1️⃣ Identifying the trend
Before you enter a long, check if the price is in an upward trend (higher highs & higher lows). A long makes sense only when the market is rising.
2️⃣ Waiting for a healthy correction
Don't enter impulsively. Wait for the price to return to a support area or towards an important moving average (e.g., 50/200 MA).
3️⃣ Confirmation before entry
You can wait for a strong green candle, increased volume, or a reversal pattern. Confirmation helps you reduce risk.
4️⃣ Setting a realistic stop-loss
The stop-loss should be placed *below support* or below the last “higher low” to protect your account in case the market reverses.
5️⃣ Profit target
Don't forget to set a take-profit area (e.g., the next resistance level). Without an exit plan, emotions take control.
6️⃣ Stay disciplined
Stick to the plan, without impulsive changes. The market rewards consistency, not emotions.