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Your Uniqueness in the MarketTake a look at this chart, or any chart of your choosing, and tell me what you see! Not just the technical terms and the direction of the market but explain what you are seeing, thinking and feeling as you read the market data from start to finish. If you got the responses from twenty different people, you'd receive twenty different perspectives with twenty different interpretations. Some of them overlapping in their theories and explanations while others violently contradict and oppose each other. The beautiful thing about trading is that we all at one time or another are correct. "Correct" being that their was a legitimate opportunity to place a trade and make money based on your unique perspective of the information. The difficult thing in trading is really understanding what we see and perceive in all of the market data. I want to emphasize... The difficult thing about trading is in truly understanding how we see and interpret market data in our own unique way. Some people see long, while others see short, and depending upon the system; on any particular trade, on any particular day, both sets of people are correct. All systems have winners and losers, its an unavoidable fact. The acceptance of this fact will help you understand that you don't necessarily need to go searching for someone else's way of trading, you only to need gain a thorough understanding of how you view things. What resonates with you and your uniqueness? Maybe its moving averages and RSI, maybe its price action and support and resistance, or maybe its simply the day of the week at a specific time. When you start to unpack your way of making sense of the market you can find your unique way of operating in it. If success in the market was primarily based on technical skills, and the use of tools, indicators, and spreadsheets. There would be a lot more profitable traders. Trading attracts some of the most brilliant minds, intellectual beasts, and academic rockstars, and yet over 90% of traders fail and are unsuccessful. You yourself, as you read this may realize you are a brilliant person yet you struggle to stay consistent with your trading. The answer to your problem is not solely in the technical skill, its likely hiding in the unexamined parts of your personality. If you know this, then you also know that awareness and application are two totally different things. You can be aware that you have a personal problem with following a trading methodology but feel totally powerless in correcting it. My question to you would then be, how much time have you spent experiencing your own unique style of trading? Stop fighting your nature, and embrace your expression. There are market fundamentals and market basics that every trader needs to understand. Price Action Structure Trend Risk Beyond this your style of trading is likely a combination of many different skills that you've accumulated from various sources. The important thing for each trader is to understand which skills resonate most with them. Which skills fit your unique market perspective. Which skills can you use to build a system of trading that allows you to account for the mixture of wins and losses, while keeping you in an optimal mental space, so that you may execute on your level of understanding. I think the challenge for every trader, is to take the time to identify a purpose in their trading. To understand why it is that you feel drawn to embark on such a challenging task. Those traders who stick with it, and generate some answers to these questions will have taken huge strides in understanding how the market serves as mirror. Reflecting back at you, the potential for you to fulfill your desires coupled with everything that you need to work on, and improve upon, on a very personal level. If you don't come from a trading and investing background, either from family ties or academia, then all of this becomes even more important. Self- taught traders need to understand their uniqueness in the market. You are the most important part of your trading system. It would be crazy not to give yourself the time and attention you deserve. Happy Trading!
UEducation
by LevelsArchitect
1
MONEY MANAGEMENT: The MOST Important Aspect of TradingIf you are a professional trader or plan to become one, Money Management is your #1 job. You could be the best chart reader or statement analyzer in the world but if you have poor money management you will still fail. In order to succeed you first have to last, and to last in the trading business you must be able to handle risk and manage it accordingly. How you handle Money Management comes down to a few simple things: Risk limits - This consist of knowing your risk per trade, your max drawdown, and buying power limitations. ○ Risk per trade: This is the amount you are willing to lose if the trade goes against you and stops out (remember to always have a stop loss). Many traders refer to this as Risk Units or simply 'R'. This should be a defined amount that does not vary based on emotion. If you do use different risk for different trades you should have that clearly defined in your trading plan otherwise each trade should be the same. Risk per trade should be around 1% for experienced traders and $10 for new traders as they work towards slowly raising risk with consistency. ○ Max drawdown: This is the max amount you are able to lose per timeframe. For example, a day trader may have a max drawdown of 3R per day, 7R per week, and 13R per month. Max drawdown demands that if you lose that amount in that timeframe you are to be done trading until the next one. This helps traders from spiraling out of control and blowing up a trading account. ○ Buying Power Limitations: Knowing how many trades you are able to take at one time will help define your strategy. Expectations - This consist of knowing your expectancy and timeline ○ Expectancy: Your trade expectancy is the most important stat in all of trading. It tells you what you expect to make per trade. In order to properly manage risk you have to be sure that the strategy is worth it. The expectancy stat is how you do just that. For more info about expectancy check out my post on it here ○ Timeline: Everything takes time. Trading is no different. Having a realistic expectation about your timeline and how much you are going to make is a critical element in helping traders stay focused on their goals and not fall into a get rich quick scheme. If you expect your trading career will take 3-5 years to become profitable you will manage your money much better than someone who expects full time profits in under 1 year. Yourself - This consist of knowing your personality and trading plan ○ Personality: What is your personality like? Are you a jittery person or are you robotic. Knowing this will help build a management that you can trust and are able to follow. ○ Trading Plan: Make sure your trading plan fits your trading style. You have to take many things into consideration here such as time constraints, goals, and personality. It takes time to figure out what works for you. If you can determine how to handle these three factors then you will be well positioned to not struggle with money management. After you have the fundamentals written in your trading plan all it comes down to is staying disciplined and following the rules set for yourself. Clearly define your limits, have an expectation, know thyself. Thanks for reading, follow @Jlaing for more educational post about Money Management, Trading Stats, and more. I also stream a stock day trading chat room every morning at 9:15 EST right here on TradingView, come check it out and say what's up.
BITSTAMP:BTCUSDEducation
by JLaing
EXPECTANCY: The Golden Key StatisticWhat is Expectancy? Expectancy is the one of the most important statistics in trading. Expectancy is how much you expect to make per trade. If you have an expectancy of 0.3 that means you make 30% of your average risk per trade. If you risk $1000 per trade, then you would receive $300 on average for EVERY time you took a trade. The baseline for a worthwhile & profitable strategy for most traders is an expectancy of 0.25 or higher. Anything more than 0.5 is outstanding. How do you calculate expectancy? A few different ways: (gross profit/# of trades)/Avg. Risk or ((Win%*Avg. Win)-(1-Win%*Avg. Loss))/Avg. Risk The table on the chart breaks down the required Win% and Profit/Loss ratio needed for an expectancy greater than 0.25. As you can see there are multiple ways to build a profitable strategy. What does Expectancy tell you? Expectancy is a crucial stat for traders because it lets them know if their strategy is valuable. The only way to know your expectancy is to track your trades! Tracking your trades is an essential part of the job as a trader yet many fail to do so. It can be done for free with some simple spreadsheet formulas and a bit of time. Track your trades, review your stats, improves your trades. Rinse & repeat. Thanks for reading, follow @Jlaing for more educational post about Money Management, Trading Stats, and more. I also stream a stock day trading chat room every morning at 9:15 EST right here on TradingView, come check it out and say what's up.
BITSTAMP:BTCUSDEducation
by JLaing
My First Forex Analysis of EURUSD on the 1-Hour TimeframeThe Market was in an upward trend from Tuesday 22nd '22 up to Wednesday 23rd '22, and the trend was broken by Thursday 24th '22 low leading the market to change to the state of consolidation. Friday 25th '22 Low cleared Thursday 24th '22 low taking out the liquidity created in that Thursdays low, then the market entered into the range before market close for the week. It my first time, I am opened to corrected and hoping to learn more...
by Okere_NP
US30: Potential Sell ZoneMy first post. Lately I've been trying to nail down my strategy into something that I can act on consistently. Teaching or Sharing thoughts lead to a deeper understanding of the content so I would love to hear anything constructive from you market wizards. I've identified two structures here. #1: The Highest Swing High to the Lowest Swing Low. #2: The most recent Swing High to Lowest Swing Low, based on where price is currently on the Daily chart. Using these four data points, I then use Fibonacci to chart what I believe to be significant market levels (below): #1: The .618 Retracement of the largest structure #2: The .886 Retracement of the smaller structure #3: The 1.272 Extension of a smaller structure I look for a cluster of fibs that may also line up with support/resistance, break and retests. The more points of confluence the better. The clusters signal areas of interest. (Set an Alert) Once price reaches this area, Analysis can be done on smaller time frames for precise entries. I'm still nailing down my trading style and risk management profile. I don't like to throw arbitrary shorts and longs on charts that don't have some solid logic behind them. I typically have tight stops, which means I get stopped out a lot. (Whatever its apart of the game.) I'm still climbing the mountain of trading discipline and resisting the urge to take random trades, revenge trade, move stops, and the more. I'm a believer in trading psychology and every trader having a unique place in the market. If we as traders are operating outside of our place in the market due to inconsistent trading habits, lack of self-control, or a poor understanding of what it is to be our own versions of successful, then we will likely struggle until something clicks. I'm excited to be more involved on the Tradingview platform.
UShort
by LevelsArchitect
4
Simple Technical Analysis for BeginnersIdentifying the Support (lowest price), Resistance (highest price), and Key Levels (areas price gravitates to between Support and Resistance) one two or more timeframes. Today, I have them marked on the 4H and 1H Timeframes. Identifying Support Support is the lowest level a price will go before reversing. A support is created in two ways. The first way is when Sellers in the market close their existing positions and take their profit. The second way is when new Buyers enter the market by opening new positions. Identify all historical Lows in a chart. Circle these zones. Connect as many as possible using straight horizontal lines. These are known as areas of Support. Identifying Resistance Resistance is the highest level a price will go before reversing. A Resistance is created in two ways. The first way is when Buyers in the market close their existing positions and take their profit. The second way is when new Sellers are entering the market by opening new positions. Identify all historical Highs in a chart. Circle these zones. Connect as many as possible using straight horizontal lines. These are known as areas of Resistance. Chart Made Using AlphaMind AM All-In-One Indicator
Education
by elleferrero
Time to invest in Shiba All People who know about Crypto Currency know what that Shiba proof last months and now is one of TOP #15 crypto in the marketcap you can invest a lot to get a lot for a short times and if you plan to be rich with few invest , yes you can but you need more time and don't take an overdose of dreams because actually is impossible for Shiba to reach 1$ neither 0.1$ yes is impossible and maybe it will possible if they change something or they create anothers things but it possible to reach 0.009$ yes you can be rich if you invest now the price is 0.000010$ . We hope good things for this strong crypto currency .
by yacinos2219
3
Happy New Month. AUDUSD SUMMARY & PREDICTIONGood morning I hope you all are having a wonderful life as it Is our birthright. I want to let us know that for the past 730 Hours AUDUSD has moved................. Zero PIPS. Yes, we are right back where we started and I'm really optimistic about what's in store for us this month. Last month began with sellers dominating and I wonder If we'll get that this coming week. Will the seller win or has there been a shift in the market? Please take your time to think about this. We are not in a hurry to trade, we may not be the most active but we are the most profitable. Make this your mantra, Thanks. Do we know what channels are? If you don't please send me a message and I'll explain. I believe that in moments of indecision the market takes a side movement. It could be an upwards channel or a downwards channel or a simple range moving to the side. Like, the whole of last month was just a move to the side, lol. If you look at the chart you will see WHITE horizontal lines, indicating support and resistance ZONES. If you take another look you will see that the price moved above a downwards trend line Indicating THE POSSIBILITY of a change in trend. WE WERE SELLING, NOW WE SHOULD BE BUYING. Message me If you have any misunderstandings. Let's go the Economics : AUD has had a positive RBA Interest Rate Decision, Positive Trade Balance, Negative Employment Change, Positive GDP just two days ago, and a Positive Trade balance as of yesterday. USD has a positive Jobs Data, A negative ADP Nonfarm Employment Change (Apr), positive PMI"s, an Increase in the Interest rate, Negative Jobless claims, positive Nonfarm Payrolls (Apr), mixed CPI news, and a negative Jobless claim that turned the market in favor of AUD mid last month. All these happened and guess what. There was no significant move in the market. We want to capture a big move and we think it's happening soon. If you check out my previous posts, I have THREE before this. You'll have a clearer understanding of what's coming next. Our Forecast We are still bullish on aud usd We don't expect the big move to happen Immediately but It'll happen soon. Every swing low should be an Indication to BUY if you are SCALPING/DAY TRADING, not the other way around. Once there is a change in market sentiment we will know AND Obey. Our Method this coming week will be to buy 15min fractals till the next fractal. If you don't understand what fractals are, send me a message, and I'll explain. You can as well like this post and follow this page and I'll keep you updated with AUDUSD Setups this coming week. Have a lovely weekend. CHEERS.
by iamspirit_io
The basics of back-testing (HOW TO)Hey Traders, Today I wanted to follow on from the fantastic amount of comments that we are receiving from the previous video, "stop strategy jumping." It seems that so many of you took a whole heap of value from that video and for that I am very thankful and to everyone who reached out and told their story or let me know that it really touched them. As highly requested, I wanted to run through a basic way to start getting the grips with strategy back-testing. How can we go about back-testing our strategies to ensure that they are profitable for us in the long run? Take a look, have a listen and tune in. Set up an excel sheet the way I do and get back testing. There's only one way to do this, and it is to do the hard work. Let me know what you guys find. I can go more in depth in the future, but for now. It seems like most people wanted to get to grips with the absolute basics, which is what I'm going to show you today. If you have any questions at all, please the comment section is the place to be. As always, have a fantastic trading week and a fantastic weekend traders. I'll see you very soon.
Education
by the5erstrading
12