Bill Williams about trading

Bill Williams is a genius in the world of trading, who is known as the author of Trading Chaos. This edition is the Bible for many exchange dealers. It describes the methods of the exchange game, which will help to increase profits due to critical situations. The book is appreciated by generations of investors and traders who have decided to delve into the world of the stock market.


Trading information flies at the speed of light. Today you heard that there is such a profession as a “trader”, already tomorrow you found an incredible amount of training materials, after a couple of weeks you found a broker and started trading - everything is simple, isn't it? However, no, the financial market is a huge world with its own laws and regulations, and only professionals can enter it. Williams himself said - “the exchange is not subject to any laws, concepts, dependencies and trade secrets. Randomness and coincidence determine everything, and only the dealer who is ready to play blindly can win. ”


In this article, we will try to explain where to start with an inexperienced trader, relying on the fundamental advice of Bill Williams. Try to get as much as possible into the written and apply knowledge in practice, then you will succeed.


1. Learn terminology and stock slang
Do not forget that trading is a large industry from economic science. Not understanding the terminology, it will be difficult for you to start training, trading, analytics and communication with other players of the exchange. Do you know what volatility, stop-loss, Japanese candles, futures, indices, options are - if not, it's time to turn to the trader's dictionary for help. Do not forget that professional slang is the basis that every market participant should know.


2. Learn price movement and learn to understand trends
It should be understood that price is the only market indicator in which you can be sure. We can fix any market movements due to the price that the charts give us. Also, you need to learn how to analyze trend lines, without which it is impossible to predict the future price movement. Train, study and only then enter the market, without this knowledge you cannot achieve your goals.


3. Learn to work with risks
Risks when trading Forex is a common thing. They can be associated with a change in the exchange rate, the choice of leverage, the choice of a broker, and even with your psycho-emotional state. In order not to lose all previously earned finances, it is necessary to use risk management, which minimizes possible losses.


4. Start trading with an advantage
The overweight strategy separates novice traders from professional traders. On the one hand, this is an abstract theory of probability, on the other, a great chance of victory. It is worthwhile to understand that if you play a game with an element of chance and do not have an edge, in the long run you will lose. There are many stories when traders using this strategy exaggerated their capital hundreds of times. Learn trading only from experienced traders and put the acquired knowledge into practice.


5. Control your psycho-emotional state
Exchange activity is a titanic intellectual work, which is supported by great risks. Fear of loss, greed, anger, stress - this is all that leads to an imbalance of the nervous system. Do not forget that in modern times everyone can become a trader, just create comfortable trading conditions for yourself, study trading tools, understand analytics and you will succeed.

21 May, 2020

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