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EXPLAINED BASIC CONCEPTS OF TRADE📊📈 Unleash Your Trading Potential with These Proven Strategies! 🚀 Hello, Aspiring Traders! Are you ready to embark on the exciting path to trading success? Trading isn't just about making profits; it's a disciplined business, an art form, and a psychological challenge. The keys to success are deceptively simple but often overlooked. ✨ Trading is NOT Gambling! Bid farewell to unrealistic expectations and the notion that trading is akin to rolling the dice. To steer your journey in the right direction, follow these steps: 🚀 Set and Maintain Risk-Reward Ratios. Never risk more than 1% of your deposit on a single trade. Ensure control over your risk exposure by using variable lot sizes, regardless of market conditions. 🚀 Steer Clear of the "All-In" Approach. Resist the urge to place your entire account balance on a single trade in the hopes of recouping losses. Trading is about learning, not desperation. 🚀 Safeguard Your Capital with Stop Loss Orders. Utilize Stop Loss (SL) orders consistently. Avoid relying on manual closures, as emotions can lead to costly decisions. 🚀 Establish Daily and Weekly Loss Limits. Set sensible limits. If you encounter three consecutive losses in a day, take a break. If your losses exceed 10% of your account within a week, step back for the following week. This break is crucial for your growth as a trader. ✨ Maintain a Calm and Collected Demeanor Successful traders exhibit a unique blend of discipline akin to a robot and the intuitive faculties of a human. Remember, entering the market too early or too late is just as detrimental as being wrong. Maintain your composure: 🧘 Keep Emotions in Check. Euphoria and panic are your adversaries. Emotions belong in the casino, not in trading. 🧘 Steer Clear of FOMO (Fear of Missing Out). Don't trade out of fear or impatience. Premature entries driven by FOMO can lead to losses. 🧘 Forge Your Own Path. Resist the temptation of herd mentality. Successful traders are independent thinkers. 🧘 Cultivate a Diverse Watchlist. Focus on instruments with setups you understand work. Avoid inventing trades that don't align with your strategy. ✨ Consistency is the Key to Triumph Steady gains are far superior to volatile boom-bust performances. Here's your roadmap to consistency: 📊 Discover Your Trading Strategy. Thoroughly research and select a trading strategy that aligns with your personality and comprehension. 📊 Employ Paper Trading and Backtesting. Test your strategy in real-time and refine it through paper trading and the analysis of historical data. 📊 Monitor Your Trades. Maintain meticulous records to pinpoint your strengths, weaknesses, and recurring patterns in your trading. 📊 Codify Your Rules. Establish a precise algorithm for your trading strategy to minimize emotional decision-making. 🚀 In Conclusion: Embrace the Journey! Trading is a long-term endeavor, not a shortcut to wealth. Along the way, you'll face challenges, losses, and setbacks, but when you succeed, you'll unlock the path to financial freedom! 🙌 Show your support for these strategies with a LIKE and share your thoughts in the COMMENTS! Let's navigate the world of trading and reach success together! 🌟
Education
by CRYPTOMOJO_TA
16
EURGBP _____ INCOMING QUICK SHORT TRADEHello Guys, How has the week been so far... Well for me, kinda bumpy but it's part of the game so I'm good. Anyways, here we have a pair that just swept a monthly high (buy-side liquidity) and price formed a CHOCH on the daily timeframe, hence, the daily supply order. I have set an alert for when the price will trade into the daily order block. Once that happens, I will drop down to the 1-hour timeframe to see if I will get my trade setup to go short. Follow for more updates like this. Cheers, Jabari
Short
by jabariofafrica
Exploring GBPCAD's Current Markdown PhaseTraders, pay close attention! The GBPCAD pair is currently showing clear signs of entering the markdown phase within a distribution pattern. 🇬🇧🇨🇦 In the context of the Wyckoff distribution, the markdown phase is a crucial stage where the price undergoes a controlled decline after prolonged accumulation. This phase often signifies a shift in market sentiment from bullish to bearish. Observing the GBPCAD chart, you'll notice a gradual downtrend in prices with intermittent consolidations. This price action suggests that smart money, which accumulated positions during the accumulation phase, is now distributing their holdings. Key indicators, such as decreasing trading volumes and consistent lower highs, align with this markdown narrative. Traders should be cautious of potential breakdowns below key support levels as they can accelerate the markdown process. It's essential to stay vigilant during this phase. Smart traders may consider shorting opportunities, while others might tighten stop-loss orders on existing long positions. Remember, successful trading is about adaptability and reading the market's language. Stay tuned for further insights and updates on GBPCAD as we navigate this intriguing markdown phase. 🚀📉 #TradingAnalysis #GBPCAD #MarkdownPhase #MarketInsights
by GMthepipgod
NZDCHF ____ INCOMING BULLISH RALLYHello Guys, Just like my CADCHF analysis (inserted below), NZDCHF has been dumping like forever but last week, it printed a CHOCH on the daily timeframe. It only makes sense that this pair retraces even though it might want to continue the bearish move. But for now, I speculate that we might see a bullish rally. Also note that this pair is trading at the extreme price point, so it is only expected that at some point, there will be exhaustion in the bearish price movement for the bulls to enter. I will be waiting to see a CHOCH on the 1hour timeframe before going long Follow for more updates like this. See the CADCHF analysis below CADCHF ANALYSIS Cheers, Jabari
Long
by jabariofafrica
2
NZDSGD ____ INCOMING BULLISH RALLYHello Traders, I have come with good tidings. Just like I am bullish on NZDCHF (see analysis below), NZDSGD is looking bullish in the near term. Price has approached a key demand level and if you know anything about M & W patterns, look at the weekly timeframe for perspective. I expect price to make a retracement from this demand zone which will serve as a retracement on the weekly timeframe. I am monitoring to see a clear indication that this pair is ready to rally and I would advise you do same. Once I see a clear indication, I will drop into the 1-hour chart for my trade confirmation before going long. Follow for more analysis like this. See NZDCHF analysis below NZDCHF ANALYSIS Cheers, Jabari
Long
by jabariofafrica
2
CADCHF ____ INCOMING BULLISH MOVE, WATCHOUT !!!Hello Guys, I took a break from posting on Tradingview as I lost my dad on the 3rd of July and he was laid to rest on the 18th of this month. It wasn't a beautiful experience but I'd have to push myself forward. For this pair, I'd like you guys to just take a good look at the chart and see how price created buy-side liquidity and went to hunt it. Now that price has taken the liquidity, the next move should be bullish to either hunt liquidity or close an imbalance/liquidity void. CADCHF is also at an extreme and has printed a CHOCH on the daily timeframe. I will be monitoring the chart tomorrow for a CHOCH on the 1-hour timeframe to go long, as I don't trade on Mondays. Follow for more updates like this. Cheers, Jabari
Long
by jabariofafrica
7
GBPCHF ____ BEARISH MOVE IN PLAYHello Traders, This pair has been bearish for the longest. However, on the monthly chart, price seems to be consolidating. It is not in our place to figure out if the consolidation will lead to a rally or a dump but if you look inside the consolidation, you will notice that price swept the previous monthly high giving it the liquidity to go after the weekly lows. Fast forward to recent times, you will notice that price has a weekly low to hunt and price is printing on the daily chart, a complex head and shoulders pattern. Are we expecting lower prices? I think so, what about you? Follow me for more updates. Cheers, Jabari
Short
by jabariofafrica
CADJPY ____ INCOMING BEARISH MOVEHello Traders, This pair has reacted from a monthly demand level and is trying to create a higher high there by hunting liquidity. As you would notice, price is a few pips away from the weekly buyside liquidity which if it is hunted, a reaction is expected. Looking left, you will notice how price dropped strongly from that level. My speculation is that price would take liquidity from there and use is as a form of retracement to the weekly order block. Follow for more updates like this. Cheers, Jabari
Short
by jabariofafrica
NZDCAD ____ INCOMING BEARISH MOVEHello Traders, NZDCAD has been in a long-term decline i.e., the price has been bearish for months and is likely to continue. The weekly and the daily charts have printed bearish structures. Price just traded into the daily order block and is poised to continue the bearish move. Looking at the chart, you would notice the relatively equal lows (sell-side liquidity) that price should hunt. Follow for more updates like this. Cheers, Jabari
Short
by jabariofafrica
1
DXY (DOLLAR INDEX) ____ WAITING FOR BEARISH SIGNALHello Traders, The dollar has been rallying for days and weeks and we are slowly approaching a potential turning point. Price has already cleared two weekly buy-side liquidity (previous high) on its way up and is approaching the third. Although I am speculating and willing to go short, the market structure doesn't confirm to me bearish sentiment. I have annotated on the chart any of the 2 price structures that will interest me to go short. Until such a pattern is printed on the chart, I still believe that the dollar will continue to rally. Once any of these patterns appear, I will review the seven USD pairs to trade accordingly. Follow for more updates like this. Cheers, Jabari
TVC:DXYShort
by jabariofafrica
4
#PATIENCEHello traders, today we will talk about patience Patience is the key to the best trades. #Plan your trade. #Do your research. #Wait for the perfect entry And many more but only patience will allow this process to unfold. It's crucial to develop patience as a crypto trader. It's simple to fall for the hype surrounding quick earnings and instant delight. However, making snap judgments can result in losses. By exercising patience, traders can track market patterns, examine the market's behavior, and come to wise conclusions. The long-term advantages of this strategy may be substantial. Patience also enables traders to avoid emotional choices that could be harmful to the health of their portfolios, such as panic purchasing or selling. Additionally, the volatility of the cryptocurrency market is well-known. Prices can change quickly, and crypto assets can lose or gain more than 50% of their value in a matter of days or even hours. Having patience allows traders to weather the market's ups and downs without making snap decisions. Finally, traders can choose superior risk management strategies by exercising patience. Before making a choice, it enables them to conduct their due diligence and reduce their exposure to any damages. Conclusion: Having patience can help traders succeed when trading cryptocurrencies. They are able to make wise choices and steer clear of costly errors thanks to it. The saying "slow and steady wins the race" is true. It’s okay to wait… and wait… and wait for the exact moment to make your move. Play the long game. Never stop learning I would also love to know your charts and views in the comment section. Thank you
BINANCE:BTCUSDEducation
by CRYPTOMOJO_TA
16