How to get back into trading after a Break – Part 1
I’ve just return from my wedding and three week honey moon in a remote island named Ithaca at Greece.
Everything I love about this very small island is that, there are traditional Greek taverns, food, together with picturesque beaches and views which we simply see from paintings.
With the small online access, during the time that I haven’t been able to trade the markets at all.
If you’re about to go on a break or you’ve just came back , getting into gambling can be a real challenge.
Now, I will share with you my tips I use to get back into trading after having a very long holiday.
Step #1: Catch up with all the Major Industry
Start using the main index.
If your watchlist contains the top 30 stocks MT4 listed on the JSE, then you’ll need to first open the JSE All Share 40 index chart (ALSI).
In your own Meta Trader 4 stage, you are going to observe the Al-Si as’SA40Fut.a’.
You’ll then look at the price-action of the graph to learn how it transferred as you were away.
Jot down and determine the market environments the Al Si suffered and then ask yourself this critical question.
“What trading environment is your ALSI currently in and which direction is it even likely to go from here?”
There are only three trading environments that the marketplace could move.
Bull marketplace — The Al-Si is in a uptrend
Bear marketplace — The Al Si is at a downtrend
Sideways marketplace — The Al-Si is in a trend
Let’s see all three scenarios therefore that you know what things to watch out for next time.
By 23 June 20-16 until 1 December 20 17, was the previous time the Al-Si was in a bull-market showing higher highs and using a strong up trend.
The ALSI subsequently broke below in to…
From 1 December 20 17 before 24 April 2018, the JSE subsequently went through a bear-market revealing lower highs with the solid downtrend.
The market then broke above the downtrend getting into a congestion period also known as…
Since March 2018 up’till today, the Al Si was in a sideways market.
Side note:Fortunately, I went when I did so. As a breakout dealer, I only trade at the direction of the break-out. Thus when the ALSI breaks out from this back market, that is when I could get to have fully back into trading.
It’s important see the way the major index moved while you were off. In this way you’re able to catch up to everything you may get to exchange in the future.
Listen into the next BlackStone Futurespost for a part two of “The way to get back into trading following a well-deserved break”
“Wisdom yields Wealth”
Enjoyed this report? Don’t hesitate to send your thoughts to [email protected] and do not forget to LIKE our Facebook page for trading related to articles, tips, events and specials…