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Trading MindsetWELCOME TO WORLD OF TRADING Hi everyone, what I am about to talk right now is concerned with trading psychology. Everything that I am about to say right now is also a crucial aspect of my psychology and mindset that is fueling me to write this for you guys. Hence, we can deduce one thing from this. Psychology is the most important factor in deciding your future as trader. I will be honest upfront with you guys. So you’ve been introduced to the world of trading by your friend, family or anyone that doesn’t matter, so you’ve been told how the guy next door is making thousands of dollars with just few hours of work while you out there hustling yourself to exhaustion and making just about to survive your month doesn’t seen fair right? And exactly this guy has results to show for it to make you believe how if he can do it anyone can. Or you’ve seen couple of stories, Instagram post, Facebook post promising exponential gains in a few hours. With that said I want to address 2 main problems associated with trading which I believe are significantly important to understand before you step out there or if you’re already out there and struggling. 1) Holy grail in trading (a way or a method that will promise you returns on daily basis) Holy grail in trading what is it and does it exist? To answer this question, I want you to ask yourself a question first: why you are trading and what do u want to achieve from it Now that you’ve asked yourself that kindly note if the answer to these questions is (firstly: I want to accumulate wealth as soon as possible and drive a luxurious car next month. Secondly: I only want to find a way in trading that works 100% and gives me return on my investment daily) If these are you believes I am afraid to say you have work to do on yourself not on your system of approach of trading. Financial markets are a world of chaos there are millions of possibilities out there every day (imagine you just focus on 1 possibility consistently every day, where will that take you in the next coming years think about it) There are successful traders out there, trading and making living out it (the so-called narrative only 5% of people can make money in the markets) where’s the difference? The difference lies not on support was breached, trend line was broken or respected but on their mentality and mind set these people very well understand how market moves and work but be cautious they will never follow the market: no one in world has the intellect and memory to remember each and every tick movement of the market these people are focused on themselves and their performance in the market. They know exactly when to trade and when to stop trading. The approach of such people is not irregular but systematic and disciplined. To sum it up financial world is a world of chaos with billions of possibilities (FOCUS ON THE ONE THAT MAKES SENSE TO YOU AND COINCIDES WITH YOUR PERSONALITY AND ROUTINE) anyone can trade Weather your doctor or an engineer or just a high school student provided you are consistent, disciplined and motivated (YES UNDERSTANDING OF MARKET MOVEMENT IS VERY CRITICAL BUT YOU DON’T HAVE TO FOLLOW AND TRADE EVERY MOVE). 2) More importantly your Mind set (psychology) Now if you remember I asked you 2 question in the beginning 1st paragraph. If you focus on the fundamentals of that question, they are based on you and your way thinking (NOT ON YOUR METHOD OF TRADING LIKE I STRESSED EARLIER THERE ARE BILLIONS OF WAY OF MAKING MONEY IN THE MARKET STICK TO SOMETHING U BELIEVE IN ) I myself have been trading for almost 1 year am I a millionaire? No, I am not (and I say it proudly) I too was introduced in a conventional way just like many of you are. But trading (IS NOT A GET RICH QUICK SCHEME) (THIS NEEDS TO BE OUT THERE) but rather a skill set and unregulated chaotic state of mind that needs correction and discipline of execution which will I guarantee you results which brings me to my final and most important point YOU ARE THE MOST IMPORTANT PART OF YOUR TRADING JOURNEY Focus on yourself (yes u do need to understand the dynamics of market and its movement but alone with that I’m sorry to say you can’t achieve what u hope to achieve Let’s do some simple math’s in term of percentage shall we to give you an idea what I’m talking about Account size USD % return on investment USD ROI Account size X10 USD % return Usd ROI 1000 2 20 10,000 2 200 10000 2 200 100,000 2 2000 100000 2 2000 1,000,000 2 20,000 Don’t exhaust yourself trying to get rich fast as possible that won’t work at least not in the long run focus on getting solid return percentages first weekly, monthly, yearly consistently and get a job to build yourself step by step don’t rush the process and always believe in yourself give me a like if you agree
Education
by Danialhassan
1
BTC bounce and Touch 10460 before breaking downFor my personal purposes only. As a control of my view. I would be prepared for a short touch, probably wick on level 10400 - 10460 which is a Fib level too and a point where the triangle upper LINE meets. Will see how the price reaction will act on the place. We are looking for bullish candle and clear close throught. Anyway i believe the whole triangle pattern will played out downside. Break throught 9500, test 8000 and quickly comes up after eating all sell orders in liquiditi pools. Do you also like RSI? Which way do you usually use it? Do you use FIbbonachi for confirming S/R levels? Not a finacial advice. Thank you for any feedback and comments. MATT
BITMEX:XBTUSD.PLong
by Matyas44
BTC WAITING FOR TRIANGLE RSI CROSS\u2028\u2028 & 50 levelHi everyone, \u2028\u2028this is just a way how this Btc situation could play out. I have been playing and trying to do some analysis only using RSI. This is how it ends. Maybe. \u2028\u2028There are two blue triangles on the chart. We are waiting for any break. If RSI happen to break up, this will be very bullish signal. Similar in the opposite direction. \u2028\u2028 We are waiting for 4H closed bullish candle or ideally for closed 1D in the area of 11 000 $ per changing a Bias to Bullish. \u2028\u2028 The action can be small, but it would give us better probability of doing new ATH soon. \u2028\u2028 You can also see that RSI is going to cross level 50 soon. Plus there are two RSI Bullish divergencies. Over all i see it BULLish, even thou iam hearing lot of BEARish noice around. Specially on Twitter. This is not a financial advice. Iam begginer, learning TA and this is the way to check strategy … \u2028\u2028Please comment. Does anyone have a tip for backtesting program for beginners? I dont know how to code yet, so something simple. ? \u2028\u2028Thank you & lot of luck to you all ! MATT\u2028\u2028 “Rising tide is lifting all boats”
BITMEX:XBTUSD.PLong
by Matyas44
EURJPY TWO SETUPSA break of the ascending trend line will warrant short to the downside target highlighted (127.512) HOWEVER If price manages to hold above the trend line we could see longs to the upper bound of the channel (130.500) - if we break the channel the upside target highlighted could be achieved (131.992). For more detailed information on how we identify trade set ups and how you can take advantage of the markets like us at EZinvesting feel free to message! Follow us for updates on future trades!
by ezinvesting
2
My opinion on what will happenI marked the chart and color coded the indications. Biggest thing is many Divergences in volume and buying pressure to price correlation . Prices are raising as buying pressure and volume decrease s. If you look back at Nov 2017- Jan 2018 raise and fall, there are very similar confirmations of what I have done here. Already tested 7800 and dropping to 6800s is what I THINK will happen. I am new to trading. I am open to any insight or errors to help better my techniques and skills! Thanks!
Short
by Xb45929