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Setting up MetaTrader for Prop Firm Trading. And why I did it I've been focussing on coding Ai to trade on my behalf and therefore haven't been trading In realizing that I would need a track record of the Ai to beat I decided to get back on the markets. So I moved some funds around and started trading on a Crypto exchange where I would put my own money into the trade. What a f#$@%$ headache that was. Personal exchanges are there to make money for themselves as priority, and only kinda be there to facilitate your trades. Typical crypto exchanges (maybe others too) are unethical as well as unnecessarily complex. As you've heard I took a 38% profit, which took a long time to make, and because their contracts section forced me to buy Bitcoin to put in the trade..even though I made a profit, the overall amount decreased in value, essentially creating a loss. Grrr! So to hell with those gross exchanges and back to trading OPM (other peoples money)! In this video I'll show you how I have my MetaTrader 5 set up. I'm just waiting for the account login details to arrive and I'll that fully set up soon and ready for action asap Welcome to the real world of trading
BINANCE:BTCUSD.PEducation
by Blayno_MTOPS
Navigating Markets with Gann Fans: A Step-by-Step GuideWelcome to our comprehensive tutorial on placing and utilizing Gann Fans. In this step-by-step guide, we'll dive into the practical aspects of Gann Fans, a powerful tool for assessing non-horizontal support in resistance for technical analysis. We will thoroughly explain how Gann Fans are placed and what pitfalls to avoid when placing them. Whether you're new to Gann Fans or looking to enhance your trading strategy, this video provides actionable insights and a real-world example to help you harness the potential of Gann Fans with confidence. Join us as we demystify Gann Fans and empower you to navigate market swings with precision and skill.
Education
by LeafAlgo
4
DWEB levels and local price trends #BTC This chart is for intermediate DWEB users for learning purposes and or for followers to use for trading this local price action. If trends fail look for the next trends and levels for confluence against a system you already trust. Trends are #1 and levels are #2. Trade this chart with more trust as the price respects the lines and or this chart aligns with your other charts (confluence). By using the nodes and trends from DWEB , I was able to cast some unique visuals in terms of trends and levels. Using different candle intervals can often provide some hidden data. Often when you inverse the default intervals and indicators , you unhide even more data that is unseen by most. DWEB is very strict in it's parameters and often only makes minor adjustments between macro and micro charts. The thresholds of ranges where DWEB makes wider changes to its parameters is listed below. 1 to 314 minutes 314 to 888 minutes 888 minutes to 1444 minutes 1D TO 3 D 3D to 1W 1W to 9D. With DWEB on
COINBASE:BTCUSDEducation
by CaptBlackBeard
AGIX COIN tutorialAGIX, formerly known as AGI, is the native cryptocurrency token of SingularityNET, a blockchain-based platform designed to create, share, and monetize artificial intelligence (AI) services at scale. SingularityNET aims to be a decentralized, open market for AI services, accessible to anyone. The platform uses blockchain technology to ensure transparency and security while facilitating AI service transactions. Key Features of SingularityNET: 1. Decentralization: SingularityNET operates on a decentralized network, which means there is no central control over the AI services. This decentralization promotes a democratic and open ecosystem for AI development and utilization. 2. Marketplace for AI Services : It provides a marketplace where developers can offer their AI services, and users or businesses can purchase these services. This model aims to democratize access to AI technology. 3. Interoperability of AI Services: The platform is designed to support various AI services to interact and collaborate, potentially leading to more advanced and integrated AI solutions. 4. Token Use: The AGIX token is used as a medium of exchange on the platform. It is used to buy and sell AI services within the SingularityNET ecosystem. As for the future outlook of AGIX, it largely depends on several factors: 1. Adoption and Growth of the Platform : The more widespread the adoption of SingularityNET's marketplace for AI services, the more demand there might be for the AGIX token. 2. Advancements in AI Technology: As AI technology continues to advance and becomes more integral in various sectors, platforms like SingularityNET could see increased interest. 3. Competition : The AI and blockchain space is highly competitive and rapidly evolving. The success of AGIX will depend on how well SingularityNET can innovate and differentiate itself from other players in the market. 4. Regulatory Environment : The regulatory landscape for cryptocurrencies and AI technologies is still evolving, and changes in regulations can significantly impact the adoption and use of platforms like SingularityNET. 5. Community and Developer Support: The strength and engagement of the community, as well as the number and quality of developers building on the platform, are crucial for the long-term success of AGIX. 6. Partnerships and Collaborations: Strategic partnerships and collaborations can enhance the utility and adoption of the SingularityNET platform, thereby potentially increasing the value of AGIX. It's important to note that cryptocurrency markets are highly volatile and speculative. Therefore, predictions about the future of AGIX, like any other cryptocurrency, should be approached with caution and based on thorough research and analysis.
AEducation
by Aibullz
The Only Reason You Need a TRADING PLAN If you want to become a consistently profitable trader you have two choices: 1️⃣strictly follow your trading plan or 2️⃣fail. Trading plan is essential for achieving your financial goals. It is a set of actions to follow for making trading decisions guiding you on how to react to certain events. It reflects your personality and characteristics. Moreover, its entire structure and content are primarily based on them. Your way to success will be full of obstacles. A lot of things will come in your way: losses, drawdowns, and losing streaks; mistakes, scams, and emotional decisions. Only your trading plan will show you a correct path, it ensures you will stay on track on your journey to your desired destination. When you make a wrong turn, it knows to make adjustments, and it points you back in the right direction. It is your guard from making any hurried decisions you could later regret. Trading without a trading plan wouldn’t be a smart idea. You wouldn’t know how to get to your destination and it’s highly likely that you get lost. Most importantly, if you suck at trading (and you certainly will in the beginning), you will know it is down to one of only two reasons: either there’s a problem in your trading plan or you are not sticking to your trading plan. Stick to your plan traders. "If you fail to plan, you plan to fail". Hey traders, let me know what subject do you want to dive in in the next post?
Education
by VasilyTrader
6
U.S. Dollar Index (DXY)The US Dollar Index (also known as DXY or USDX) measures the value of the US dollar against a basket of foreign currencies. Therefore, it provides us with an insight into whether the dollar is strengthening or weakening compared to other major currencies. This index has a positive correlation with currency pairs where the dollar is the base currency. Conversely, there is an inverse correlation. The DXY or USDX measures the exchange rate of the US dollar against 6 currencies. The currency with the most weight in its composition is the euro. It is a key indicator in analyzing the value of the dollar to determine its trend. Additionally, it can be used to study the global macroeconomic situation, as well as to gauge the level of economic and financial uncertainty at a particular moment. (🇬🇧)
TVC:DXYEducation
by JRiquelmeTrading
1
Metrics: Expected Value (EV)Expected Value (EV) is a statistical concept that indicates whether our trading system or strategy will yield positive, negative, or neutral results in the medium or long term. It is based on previous results. As we know, past performance does not guarantee future results, but it helps us get an idea of how it might work and allows us to base our decisions on objective terms. The formula for calculating Expected Value (EV) is as follows: Expected Value (EV) = (Win Rate * Average Win) - (Loss Rate * Average Loss) When interpreting the result, it indicates whether you will gain or lose in the medium or long term per unit of currency at risk. An example: A trader achieves an expected value of 0.5 with their trading operations. This means that every time they risk 1€ in the market, they gain 0.5€ in profit.
BITSTAMP:BTCUSDEducation
by JRiquelmeTrading
1
Linking Time with Price LevelThe relationship between time and price level can be observed through the analysis of price charts and technical indicators. Technical analysis involves the use of charts and indicators to identify patterns and trends in price movements. One important aspect of technical analysis is the identification of support and resistance levels, which can help traders make decisions about when to buy or sell a particular asset. Technical indicators can also be used to analyze the relationship between price and time. For example, moving averages can be used to identify trends in price movements over a specific period of time. The slope of the moving average can indicate the strength of the trend, while the distance between the price and the moving average can indicate the level of deviation from the trend. In addition to technical indicators, traders also use fundamental analysis to assess the relationship between time and price level. Fundamental analysis involves the study of economic and financial data to identify factors that can influence the price of an asset. For example, changes in interest rates, inflation, and political events can all have an impact on the price of an asset over time. To summarize, the relationship between time and price level is complex and multifaceted. Traders use a variety of tools and techniques to analyze this relationship, including technical indicators, charts, and fundamental analysis. By understanding the relationship between time and price level, traders can make more informed decisions about when to buy or sell a particular asset. Regarding the development of price ratios, the expected price level and the expected price movement for the wave can be determined by analyzing technical indicators such as Relative Strength Index (RSI) and Price Oscillator. The RSI can be used to identify the overbought and oversold conditions of an asset, while the Price Oscillator can indicate the strength of the trend. By analyzing these indicators, traders can develop price ratios and make informed decisions about when to enter or exit a trade. Finally, it's important to note that the relationship between price and time is not always straightforward. While technical analysis and fundamental analysis can provide valuable insights, they are not foolproof. Traders need to be aware of the limitations of these tools and use them in conjunction with other forms of analysis and risk management strategies.
Education
by emad_alwan
1
Unveiling the True Journey of a Forex Trader Entering the world of forex trading can be an exhilarating yet challenging endeavor. As a beginner, there is a multitude of uncertainties, doubts, and learning curves to overcome. However, with dedication, persistence, and the right mindset, every trader can journey from being a novice to becoming a seasoned professional. In this article, we will delve into the real journey of a forex trader, highlighting the key stages, hurdles faced, and the ultimate triumph of reaching pro status. Stage 1: The Humble Beginnings Every forex trader starts somewhere – and that somewhere is usually as a complete beginner. It begins with the excitement of discovering forex, learning about concepts like currency pairs, pips, and leverage. Novice traders spend their time absorbing knowledge from various sources, including books, online courses, and forums. They explore different trading platforms, practice with demo accounts, and study charts tirelessly. Stage 2: The Quest for Knowledge The second stage is characterized by a deepening understanding of the forex market. Traders realize the significance of fundamental analysis, technical analysis, and risk management. They invest time and effort in learning various trading strategies and indicators. This period often involves experimenting with different approaches and finding a personal trading style that aligns with their goals and personality. Stage 3: The Psychological Battle Advancing to the intermediate level of forex trading brings about a psychological battle that often catches traders off guard. Emotions such as fear, greed, and impatience can significantly impact decision-making. Traders must cultivate discipline, control their emotions, and stick to their trading plans. Stage 4: Gaining Experience and Refining Skills With consistent trading and gaining experience, traders gradually develop a sense of familiarity with the forex market. They begin to identify recurring patterns, understand market cycles, and spot potential trading opportunities. Risk management becomes an instinct rather than a conscious effort, and traders learn to manage their positions effectively. Stage 5: Mastery and Consistent Profits Finally, after going through the previous stages, traders reach the pinnacle of their forex journey – becoming a pro. At this stage, they have developed a robust trading routine, which incorporates continuous analysis, adapting strategies to changing market conditions, and effectively managing risk. Successful traders are able to consistently generate profits while keeping emotions in check. The journey from novice forex trader to professional is not only about understanding the mechanics of trading, but also about mastering the psychological aspects and developing a disciplined mindset. It requires perseverance, constant learning, and an ability to adapt to ever-changing market conditions. By continuously refining their strategies, managing risk, and staying dedicated to their goals, forex traders can make the remarkable transformation from beginners to experts in this dynamic industry. Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
6
How to Spot and Trade the ENGULFING CANDLE Hey traders, In this post, we will discuss a classic candlestick pattern formation each trader must know - the engulfing candle. Key properties of this pattern: 🔑 Engulfing candle is a reversal pattern. 🔑 Engulfing candle can be bullish or bearish. ❗️Also, remember that this candle demonstrates the highest accuracy when it is formed on a key level (support or resistance). ⬆️Bullish Engulfing Candle usually forms after a strong bearish impulse. Weakening, the market keeps going lower forming bearish candles. However, at some moment, instead of forming a new bearish candle the market reverses. The price forms a bullish candle that engulfs the range of the previous bearish candle and closes above its opening price. Such a candle we call a bullish engulfing candle. The main feature of this pattern is the fact that its total range (distance from the wick high to wick low) & body range (distance from body open to body close) exceed the ranges of a previous bearish candle. Being formed on a key support level or within a demand zone it signifies a highly probable pullback or even a trend reversal. ⬇️Bearish Engulfing Candle usually forms after a strong bullish move. Reaching an overbought condition, the market keeps going higher forming bullish candles. However, at some moment, instead of forming a new bullish candle the market goes in the opposite direction. The price forms a bearish candle that engulfs the range of the previous bullish candle and closes below its opening price. Such a candle we call a bearish engulfing candle. The main feature of this pattern is the fact that its total range (distance from the wick high to wick low) & body range (distance from body open to body close) exceed the ranges of a previous bullish candle. Being formed on a key resistance level or within a supply zone it signifies a highly probable pullback or even a trend reversal. Take a look how powerful the engulfing candle is: on Gold chart, 4H time frame, the price formed a bullish engulfing candle after a pullback. The formation of the pattern immediately triggered a bullish continuation. At some moment, the market became overbought, the formation of a bearish engulfing candle confirmed the initiation of a bearish movement and the market dropped heavily then. 📝Engulfing candle can be applied for scalping lower time frames, for intraday trading, or even for swing trading. Personally, I apply this candle on daily/4h time frames as one of the confirmations of the strength of the structure level that I spotted. Let me know, traders, what do you want to learn in the next educational post?
OANDA:XAUUSDEducation
by VasilyTrader
10
What Is a Gann Fan Indicator?Alongside other titans of the industry, like Dow, Wyckoff, and Elliott, Gann is considered one of the most influential figures in trading. After he developed the Gann indicators, traders picked up his teachings worldwide. In this FXOpen article, we’ll dive into two of the most popular Gann indicators, Gann angles and Gann fans, and look at how they work, investigate their uses, and explore their limitations. Introduction to W.D. Gann William Delbert Gann, known as W.D. Gann, was a legendary trader and market technician born in 1878. He began his career on Wall Street in the early 1900s and quickly began developing a technique for predicting market movements. Gann's theory was rooted in his belief that the market followed specific geometric patterns and that time and price had a special relationship. Throughout his career, Gann developed various innovative tools for technical analysis, including Gann angles and Gann fans. These tools, known as Gann indicators, still have a valuable use in the markets today. Gann Angles Gann angles, as the name suggests, use a sloping line to help traders predict future price movements. These angles represent the rate of change between time and price. The primary 45-degree Gann angle is the 1x1 line, where the market moves one unit of price for every unit of time. Similarly, angles like the 2x1 line, where the price moves two units for every single time unit, will result in a line flatter than 45 degrees. A 1x2 line will see the price moving one unit for every two units of time. Other angles are 1x8, 1x4, 1x3, and 1x2, while the angles less than 45 degrees are 2x1, 3x1, 4x1, and 8x1. These Gann angles are primarily used to predict future support and resistance levels, plotted by the Gann fan indicator. When the price moves in the direction of the 1x1 angle, Gann believed that this indicates a strong trend with balanced supply and demand forces. Sustained moves above the 1x1 line show a bullish trend, while moves below are considered bearish. The Gann Fan Indicator Gann fans offer an easy way for traders to plot these angles. The fans consist of nine diagonal lines that use the price-time relationships described earlier, as seen in the diagram. This offers a broad perspective on where the price may end up and helps to forecast potential support and resistance levels. To construct a Gann fan, traders start by identifying a significant swing high or low point in the market. From this point, they draw a 45-degree, or 1x1 line, to represent the most critical angle. The Gann fan is then plotted along the angle, creating nine lines. As prices approach or move away from these lines, we can begin to predict market reversals and trend continuations. How to Use the Gann Fan Let’s take a look at how to use Gann indicators, specifically the Gann fan. Traders generally develop a Gann fan strategy using three primary methods: identifying support/resistance levels, timing entry and exit points, and gauging a trend's strength. Support/Resistance Levels Gann angles within the Gann fan often behave similarly to trendlines, revealing areas where the price may stall or reverse direction. These angles help traders identify crucial support and resistance levels, which may inform their decisions on future price movements. Looking at the example above, we can see that the 2x1 line offered significant resistance, even as the trend progressed bullishly. Meanwhile, the 3x1 line provided strong support, allowing us to anticipate that these two angles would hold whenever the price visited them. Timing Entry and Exit Points Consequently, Gann fans can help traders time their entry and exit points. As the price approaches a Gann angle, traders may anticipate that the market may reverse in this area. They could then look for confirmation with other technical analysis tools, like candlestick patterns or momentum indicators, before entering to catch the reversal or closing their existing position. As with each of the Gann charts shown in this article, these angles aren’t guaranteed to hold. This might help traders identify opportunities where prices will likely continue trending. The choppy area marked by the box in the diagram above could have shown us that the price wasn’t ready to reverse up, given that it closed below the 3x1 line several times. Gann theorised that once the price had broken through one angle, it would likely head to the next. As a result, we could have predicted that momentum was likely to continue to the 4x1 line and enter a position to catch the move. Alternatively, if traders had entered a trade on the reversal at the 2x1 line, denoted by the dashed line, they could take partial profits at both the 3x1 and 4x1 lines. Gauging a Trend’s Strength As mentioned earlier, the 45-degree 1x1 line can also show us the strength of a trend. In the chart above, we can see that significant bearishness entered the market on the left-hand side. This was confirmed by the fact that the price was sitting beneath the 1x1 line, indicating that the strong bearishness was likely to continue. Using this knowledge, traders could have predicted that the sharp move downward would carry on. As the price began to cross over the 1x1 line, the trend’s strength weakened. Traders could then start to anticipate that the price might begin to range or recover slightly, as it did in the chart. In this sense, traders don’t even necessarily need to use the Gann fan. By drawing a 45-degree angle from a key swing point, they can use the line as a Gann trend indicator and expect that price will follow the trend's direction as long as it remains above (if bullish) or below (if bearish) the 1x1 line. Limitations of Gann Indicators While Gann angles and fans may provide valuable insights into the market’s behaviour, there are some limitations that traders need to be aware of. The biggest issue is subjectivity. Different traders identify different swing points; some may prefer the last swing point, while others use the most extreme. This might lead to differing results and interpretations. There’s also the issue of subjective scaling. While a 45-degree angle seems simple enough to apply, the angle depends on the zoom and price-to-bar ratio of a trader’s chart. As a trader zooms in and out, the line will stay at the same angle, but its position on the chart will change. This can be mitigated by locking the price-to-bar ratio of the chart, but this a) makes zooming in and out of price action cumbersome and b) still doesn’t offer a “true” 45-degree angle that can be universally agreed upon. To see this for yourself, try using the Trend Angle tool under Trend Line Tools in TickTrader. Then, apply it to a swing point, and zoom in and out. You’ll notice that its position can vary wildly depending on your zoom level. Besides locking the price-to-bar ratio, traders can try to correlate the 1x1 line with an area in which the price reversed, then plot the Gann fan over it. This may help to bring some uniformity to the process. Your Next Step In summary, Gann indicators, particularly Gann angles and Gann fans, may help us predict future price movements with a high degree of accuracy. However, their subjective nature can make them tricky to apply consistently, and they are better suited to more experienced traders. Once you’ve mastered the Gann indicators, you can open an FXOpen account. We offer a wide range of markets, competitive spreads, and an ECN-based order routing system, so you can trade using Gann indicators and other advanced trading techniques. Good luck! This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Education
by FXOpen
1
Gann Fans: A Tool for Predicting Price MovementWhat Is A Gann Fan? Gann fans are a popular technical analysis tool used by traders to predict price changes by analyzing the geometric and cyclical nature of the market. The Gann fan tool consists of a series of lines called Gann angles, which are drawn at specific angles based on price-to-time moves. The tool is different from trendlines because it moves at a uniform rate of speed. While it helps gauge the strength and direction of the trend, it does not always predict the market's exact location. However, an appropriately set-up Gann fan can provide valuable insights into the market's future price movements. How To Set Up A Gann Fann To set up a Gann Fan, you first need to identify the main tops and bottoms on a price chart for your chosen time frame. Once you've found these points, select the Gann Fan tool and draw it from the identified earliest bottom to the most recent main top for an uptrend or top to bottom for a downtrend. To adjust the Gann Fan, you need to set the correct scale ratio. This can vary depending on the market you're trading in, but a common ratio is 1:1. This means that each unit on the vertical axis (price) is equal to each unit on the horizontal axis (time). Once you've set the scale ratio, you can adjust the Gann Fan by moving the starting point or the angle of the fan. The angle should be set so that it lines up with the trend line connecting the main tops and bottoms. For more educational content don't forget to give us a boost and a follow!
BITSTAMP:BTCUSDEducation
by LeafAlgo
EXPLAINED: A Bullish Fair Value Gap (FVG) - Smart Money ConceptsA Bullish Fair Value Gap is a 3 candle structure with an up impulse candle (2nd) that indicates and creates an imbalance or an inefficiency in the market. WHAT DO THE IMBALANCES TELL US? These imbalances tell us that the buying and selling is not equal. Now the market needs to rebalance (move at least to 50% of the fair value gap to fill) to make up for the imbalance and rebalance. For this to happen we need to see orders filled in the prices of the candle with the FVG. HOW A BULLISH FAIR VALUE GAP IS CONSTRUCTED: 1st Candle Draw a horizontal line from the top of the wick. 3rd Candle Draw a horizontal line from the bottom of the wick 2nd Candle Draw a BOX between the above and below and pull it over to see the FVG range. BETWEEN CANDLE 1 and CANDLE 3: Do NOT show common prices. They do NOT touch where the upper & the lower wicks do NOT overlap. With a Bullish FVG we can expect the market price to move DOWN. HOW MUCH? I believe a Bullish FVG needs to close at least 50%. So you can drag a Gann Box or a Fib retracement (take out all the other levels except 50%). Wait for the price to close and fill the prices and boom - Your Bullish Fair Value Gap has been filled. Let me know if you have any other SMC (Smart Money Concepts) Questions.
JSE:BVTEducation
by Timonrosso
GOLD : What Should Be Ideal Risk Reward Ratio OANDA:XAUUSD A good risk/reward ratio could be seen as greater than 1:3, where you would risk 1/4 of the overall potential profit. For trading to prove profitable in the long term, a trader should not typically risk their capital for a lower risk/reward ratio, as this will mean that half or more of their investment could be lost. The risk/reward ratio marks the prospective reward an investor can earn for every dollar they risk on an investment. Many investors use risk/reward ratios to compare the expected returns of an investment with the amount of risk they must undertake to earn these returns. A lower risk/return ratio is often preferable as it signals less risk for an equivalent potential gain. Consider the following example: an investment with a risk-reward ratio of 1:7 suggests that an investor is willing to risk $1, for the prospect of earning $7. Alternatively, a risk/reward ratio of 1:3 signals that an investor should expect to invest $1, for the prospect of earning $3 on their investment. Traders often use this approach to plan which trades to take, and the ratio is calculated by dividing the amount a trader stands to lose if the price of an asset moves in an unexpected direction (the risk) by the amount of profit the trader expects to have made when the position is closed (the reward). KEY TAKEAWAYS The risk/reward ratio is used by traders and investors to manage their capital and risk of loss. The ratio helps assess the expected return and risk of a given trade. In general, the greater the risk, the greater the expected return demanded. An appropriate risk reward ratio tends to be anything greater than 1:3.
OANDA:XAUUSDEducation
by INVESTRONE
GOLD: 3 Reason's why To Invest in Trading education is importantOANDA:XAUUSD 1. Get a Mentor The best asset to your trading is having a knowledgeable mentor in your corner. Even the most well-written book or well-structured online trading course can only cover so many contingencies! When you run into a unique scenario and money -your money – is on the line, why gamble when you could ask someone more experience for help? A mentor can ensure that your trading practices get off on the right foot, as well. If you develop bad habits or emotional triggers early on in your trading career, it’s going to be that much harder to “shake” them later on. Remember: your mentor has likely had the same fears, the same apprehensions and the same mistakes under their belt – learn from their mistakes and the student might even surpass the teacher, in time. 2 Understand What You’re Doing We’re all guilty of coasting somewhere in life – getting the “gist” of something and just letting inertia carry you to a result. Trading, however, is not a High School literature test – it’s an important structure of rules, probabilities and information that could make you a lot of money. It’s not enough to know that cause A affects company B, you’ll need to know why that affect changes things in order to be a knowledgeable trader. Are industry trading magazines, blogs and corporate research efforts a little dry at times? They certainly can be. That doesn’t mean they aren’t important as part of a holistic trading approach. Taking online trading courses may come with an upfront cost, but what they offer in structure and support is priceless. In addition to the course materials, you’ll get access to a community of fellow traders, which will allow you to clarify ideas and discuss strategies with other traders at your level. When it comes to pre-made trading blueprints, following – not blindly following or copying, but keeping an eye on – certain systems will help keep concepts fresh in your mind and promote understanding. That brings us to our final point… 3 Forge Your Own Trading Path The beginning trader could throw a stone and hit a dozen sources that claim they’ve “cracked the code” for 100% successful trading. Not only is that statistically improbable, it’s made to appeal to lazy traders that aren’t willing to put in the work to succeed. No matter how “foolproof” a trading system seems, always filter it through your mentor and your own trading research to ensure it’s worth pursuing. An old saying also holds true, here: don’t count your chickens before they’re hatched. While it’s important to get comfortable with risk in trading, don’t bet the farm when you’re still learning the ropes. As you practice your trades and build confidence in your methods, success will follow naturally.
FX:XAUUSDEducation
by INVESTRONE