Get started

Discipline

Patience and Discipline Key to become consistently profitable trader is to be patience and discipline Don't ever bend the rules thinking it will work just as well. it won't Don't be greedy. No matter how good the trade setup looks, stick to your rules and your predetermined order size. Trading can get boring, there are many times when nothing is happening in the market. Have patience and wait for the best setups. No matter what strategy you use, you will always have bad trades from time to time. Don't let your emotions cloud your judgement. Take the loss and move on. Every loss should be a lesson to learn from. study what happened, identify what mistake you've made, journal it down and try not to do it again. There are times where you didn't do anything wrong but still suffer a small loss. This is part of trading, don't try to explain what cannot be explained. The market makes random moves occasionally. If the strategy is not bad, don't change it, stick to it and always manage your risk. ALWAYS MANAGE YOUR RISK
Education
by AhKeongTheTrader
3
"10 years I will be happy"... are you truly prepared?To all young and new investors, this is worth a read. When chasing dips, it is vital, to be honest with yourself and your future. Next time you hear someone tell you to hold for ten years, ask them if they have ever held a stock for ten years? Ask them if they truly watched something go negative 50%-90% and held for 3-5-10 years? Most importantly, ask for proof, funny how when someone buys anything from a vendor, trust and proof of goods are always the main concern. Let's pretend you bought a product on your cc and never received, thankfully a fraud claim is relatively straightforward. What if your bitcoin value drops to 10k... no fraud claims, no one to call, no one will feel sorry/no one cares. If this caused any feeling of worry, then you have too much invested and are over-exposed. You are speculating with more than 10% of your portfolio/wealth. Not many have the courage to protect themselves and ask to see the proof! We all have people we know close to us we could ask to see, but not many do. Experienced investors, business owners, brokers, etc., most likely have a "do not trust anyone mentality" for strong reasons. Always think and try to picture yourself in five-ten years (very hard) Will you have a family? Will you be trying to start a business? How nice of a house will you buy? Do you have a partner living with you? Have you taken all legal steps to ensure your assets/portfolio are protected if this relationship does not work out? I will give a personal example from my portfolio over the last two-three years. 2017/18 Cannabis stocks were surging. Everyone was getting so "rich," etc. I know how hard it is to fight greed and made sure not to overexpose and maintained a comfortable speculative 10% for myself at the time. Fast forward two years, major drops everyone hates the industry/selling for MAJOR LOSS. While maintaining the 10%, I continue to add to all my holdings when everyone has lost hope. As you can imagine, I am happy with this level of discipline now. The problem is the same group who lost 50-90 percent are now entering back into potential tops... Practice this discipline and try to do your own research and not read the news. You must also realize your portfolio will grow with you, and 10% speculation will become larger as you grow wealth into whatever your journey entails. To become the person you want to be an important step is being honest with yourself. If 10% is only $250 so be it! Never get discouraged and always remember every big portfolio/business started young, scared, and broke. In the future, this might become $2500, $250,000, and so on. The lessons you learn at $250 regarding patience and discipline will not only give you confidence in the future it will become so much more valuable in every aspect of personal/professional life. If you have the passion and enjoy every aspect of the journey and practice discipline with yourself, I have every ounce of confidence; you will grow rich and very wise. As always, it is not easy come easy go.. only EASY GO. Protect yourself and worry only about yourself and your current situation/portfolio. As with every career/journey, your opportunity will come with investing, and the more discipline you practice will allow you to have the "loose powder" when this opportunity shows itself. Be proud to be the turtle and sit back and watch all the hares play with leverage and a major risk. The same hares in ten years will be holding massive debt/remortgaging/etc... a big opportunity is out of the question for these guys now. But the turtle has been patient and saved, and he will prosper. Some friendly words from a true turtle/cheapo. These ten years will go by so fast, and believe me, I have seen a lot of hares crash and burn. Always remember opportunities might be not related to investing.... you will be very very happy when something great shows itself and in ten years you can go for it because you are a turtle. Good chance the hares might even work for you ;). If this message helps even just one young individual reading this is my goal. Good health, Good wealth, and best wishes to all fighting for their future! KEEP MOVING FORWARD!
COINBASE:BTCUSD
by KML6
8
NZD/USD good short position as we all know that nzd usd was the most bullish pair of 2020. nzd usd broke psychological level of yearly strong resistance area 0.69800 and gone up with strong bullish momentum which we can confirm on monthly time frame . now market will go for a retest on that broken resistance turned support .in this scenario what we need the most is patience and only patience with discipline look for bearish confirmation on lower time frame and enter short with your own money management and risk to reward. always remember patience with discipline always pays patience is the key
Short
by Hamaitifx
4
NZD/JPY Sell opportunity nzd jpy was one of the most bullish pair of 2020.as we can see on higher time frame its over bought and going to complete the w formation of price axction as we see on H4 than market broke the strong trend line resistance and tried multiple times to broke but rejected. now market going back to strong demand zone of 74.000 as per Fibonacci retracemnt golden ratios look for bearish confirmation on lower time frames and enter short with your own money management patience with discipline can do the magic patience is the key
Short
by Hamaitifx