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The Journey of a Trader 🎓From Day 1 Until Profitable On Day 1, a trader is just a passenger in a car that is controlled by others... This journey is so common that when people realize others are doing the same thing, they don’t feel so alone. I have talked with thousands of traders through the years and the vast majority of them experience this journey just as I have. Most start out so pissed off with life that something has to change. Most do not have college degrees. The ones that do have college degrees think they have an edge in trading… THEY DON’T but they can’t realize that yet. Some people are smarter than others so they think trading will come easier to them. IT WONT. For some reason, trading comes easier to basic factory workers with no education and no one knows why. Maybe it is just pure gut instinct. Maybe it is because they are used to following the rules. Whatever the case, trading is not, nor ever will be, easy. Most traders give up before the journey ends. It has been said that 80-90% will give up in their first year but there are actually zero statistical studies to back this up. One thing we do know, by looking at trading statistics from brokers is that only a small percentage are successful. By analyzing data from 3 of the largest forex brokers, we know that only 25-35% are successful in their trades and the others are losing. This is a totally different number than all the "95% of trader lose" we see blasted all over the place. No one knows the REAL number. Out of the small percentage that stick with it, success is born after a long and intense process. Successful traders go through a series of steps and it is kind of funny but we all go through the same steps, over and over. Most traders I know have gone down this same path and I am going to lay it out for you here. While you are reading, this I want you to ask yourself where you are along this journey. Ignorance Comes First Then comes the «WOW» moment! A WOW moment is when you find something that makes you take a double take, lose your breathe and say wow. The second wow moment! 💥 A new spark of excitement and hope sets in… Pure determination At this point, you become unstoppable. Others think you are crazy! Everyone, at this point, thinks you have lost your damn mind! Finally you can say, ” Heck Yeah, I made it!” Freedom! When you reach this point, you have given more effort than the overwhelming majority of so called traders out there. You have spent sleepless nights, sweaty day, cried, made yourself sick, mentally abused your mind, and just gave every dang ounce of energy you have to this profession. You have persevered and prevailed. Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
8
How to Trade Like a Pro | Focus on One Instrument! “TO TRADE, OR NOT TO TRADE A SINGLE CURRENCY PAIR. THAT IS THE QUESTION…” 🧿MULTIPLE CURRENCY PAIRS Easier to recover from losses on a given currency pair Less likely to experience not seeing any setups for a whole day/week Better understanding of pair correlations required Can be more distracting 🧿SINGLE CURRENCY PAIR No risk of trading correlated pairs Better ability to focus Feeling of understanding the price movements more Can be a struggle to stick to ONE pair Feeling of missing out when big moves happen on other pairs ✅HOW TO TRADE SINGLE CURRENCY PAIR: 🔲Step 1: Pick Your Currency Pair ▪️Is the pair active when I intend to trade it? Even though the Foreign Exchange market is open 24/5, some pairs may be less traded at some specific times. Refer to "When To Trade Forex To Maximize Your Lifestyle & Profit?" ▪️Do you understand the currency pair you want to trade? If you trade a pair with your country's currency, your chances of understanding how the price of the pair fluctuates might be higher. You will know what's going on and might even be able to know where the currency is heading (we are talking of fundamental analysis here...). ▪️Is the pair too or not enough volatile for you? Don't be surprised to see big swings in GBP/JPY or GBP/NZD because those pairs are considered more volatile. Some traders like it because the profits usually come quickly, but stopped out trades can be more frequent.On the other hand, a pair like USD/CNY will have some inactivity periods and that might be frustrating. 🔲Step 2: Plan Your Trading Good strategies are abstract and should work on any currency pair, however, since you have decided to trade one pair only, you have the privilege of tailoring you strategy to the particular pair, taking into the account it’s volatility, average likelihood of fakeouts vs breakouts, how trending it is on average etc.. 🔲Step 3: Stay Consistent Stick to the plan for at least a month. You might start the month feeling excited. You might get discouraged because you've taken too many or too few trades two weeks in.No one cares. Stick to your decision.At the end of the month, two things will happen: 1. You'll have built more confidence in your ability to remain consistent. 2. You'll have performed an experiment and will be able to say what works vs. what doesn't. Those are two great things for someone who's looking to grow as a Forex trader. Thanks for reading bro, you are the best☺️ Like, comment and subscribe to boost your trading! Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
10
🔲15 TRADING TOPICS YOU SHOULD LEARN🔲 Hey traders, Here is the list of topics that you must study in trading to trade like a pro. ▪️Price Action ▪️Trading Psychology ▪️Trend Lines ▪️Fibonacci ▪️Breakout Trading ▪️Fundamentals ▪️Key Levels ▪️Supply & Demand Zones ▪️Risk Management ▪️Candle Patterns ▪️Chart Patterns ▪️Supply & Demand ▪️Fundamentals ▪️Risk to Reward Analysis ▪️Technical Indicators 🔲Spend at least a week on each topic. I guarantee you that your trading performance will dramatically improve once you learn all these concepts. Thanks for reading bro, you are the best☺️ Like, comment and subscribe to boost your trading! Dear followers, let me know, what topic interests you for new educational posts?
OANDA:BTCUSDEducation
by SignalProvider
6
⚡️LEARNING FROM YOUR MISTAKES=GROWTH⚡️ 🌟Mistakes in trading are inevitable, but it can also be a valuable growth experience. Everyone is likely to make a mistake at some point, whether it's forgetting to set a stop loss or missing some important news, but you can turn a mistake into a positive situation by using it as an opportunity to learn and become better at your style of trading by not making the same mistakes again. 🌟Showing that you've learned from your mistakes can also increase your trust in your system and prove that you are willing to put effort into improving yourself. Additionally, learning from your mistakes and viewing them as positive experiences can help increase your confidence and free you from the fear of failure. 🌟When you make a mistake, try to admit it as soon as you can, and apologize if necessary. Apologizing can show that you regret your mistake, that you are willing to take responsibility for it and that you're using it as an opportunity to improve yourself. 🌟Think about what caused the mistake and how you resolved it and note things that you did well or poorly. Analyzing and understanding your mistake can help you determine what you can do differently to ensure that the mistake does not happen again. It can also help you identify solutions for future mistakes. Thanks for reading bro, you are the best☺️ Like, comment and subscribe to boost your trading! Dear followers, let me know, what topic interests you for new educational posts?
OANDA:BTCUSDEducation
by SignalProvider
10
🧭ORDER TYPES IN TRADING🧭 ⚙️STOP ORDER This one is better to be explained with the examples: These orders can be used for trading breakouts. If you thought the EUR/USD would rally further after a move above the 1.1500 level, you would place a buy stop for entry at 1.1501. As the market printed 1.1501, your buy stop would become a market order and be filled at the next best price available. If you thought that the EUR/USD would continue moving down if it traded down through the 1.1200 level, you would place your sell stop for entry at the 1.1199 level. As the market printed 1.1199, your sell stop would become a market order and be filled at the next best price available. ⚙️MARKET ORDER The market order is probably the most basic and often the first order type traders come across. Market orders are traded at market: if you want to get into the forex market immediately, you can trade a market order and be entered at the prevailing price. ⚙️LIMIT ORDER This one is better to be explained with the examples: If the EUR/USD is trading at 1.1294 and you thought it would trade down to 1.1200 before rallying, you would place your limit order to buy at 1.1200. If the EUR/USD is trading at the 1.12939 level and you thought it would rally up to 1.1300 before selling off, you would place your limit order to sell 1.1300. When using a limit order, you will only be filled at the price you designated or better. It’s important to remember that you should familiarize yourself with the platform you are working with before undertaking any form of trading activity. This can help minimize any impractical errors when executing or managing a trade. Thanks for reading bro, you are the best☺️ Like, comment and subscribe to boost your trading! Dear followers, let me know, what topic interests you for new educational posts?
OANDA:BTCUSDEducation
by SignalProvider
3
✅TRADING ONE PAIR ONLY✅ “TO TRADE, OR NOT TO TRADE A SINGLE CURRENCY PAIR. THAT IS THE QUESTION…” 🧿MULTIPLE CURRENCY PAIRS Easier to recover from losses on a given currency pair Less likely to experience not seeing any setups for a whole day/week Better understanding of pair correlations required Can be more distracting 🧿SINGLE CURRENCY PAIR No risk of trading correlated pairs Better ability to focus Feeling of understanding the price movements more Can be a struggle to stick to ONE pair Feeling of missing out when big moves happen on other pairs ✅HOW TO TRADE SINGLE CURRENCY PAIR: 🔲Step 1: Pick Your Currency Pair ▪️Is the pair active when I intend to trade it? Even though the Foreign Exchange market is open 24/5, some pairs may be less traded at some specific times. Refer to "When To Trade Forex To Maximize Your Lifestyle & Profit?" ▪️Do you understand the currency pair you want to trade? If you trade a pair with your country's currency, your chances of understanding how the price of the pair fluctuates might be higher. You will know what's going on and might even be able to know where the currency is heading (we are talking of fundamental analysis here...). ▪️Is the pair too or not enough volatile for you? Don't be surprised to see big swings in GBP/JPY or GBP/NZD because those pairs are considered more volatile. Some traders like it because the profits usually come quickly, but stopped out trades can be more frequent.On the other hand, a pair like USD/CNY will have some inactivity periods and that might be frustrating. 🔲Step 2: Plan Your Trading Good strategies are abstract and should work on any currency pair, however, since you have decided to trade one pair only, you have the privilege of tailoring you strategy to the particular pair, taking into the account it’s volatility, average likelihood of fakeouts vs breakouts, how trending it is on average etc.. 🔲Step 3: Stay Consistent Stick to the plan for at least a month. You might start the month feeling excited. You might get discouraged because you've taken too many or too few trades two weeks in.No one cares. Stick to your decision.At the end of the month, two things will happen: 1. You'll have built more confidence in your ability to remain consistent. 2. You'll have performed an experiment and will be able to say what works vs. what doesn't. Those are two great things for someone who's looking to grow as a Forex trader. Thanks for reading bro, you are the best☺️ ✅Gimme a like and the Gods of Trading will favour you this week👍 Dear followers, let me know, what topic interests you for new educational posts?
OANDA:BTCUSDEducation
by SignalProvider
10