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Emotions

BTC Three scenarious I am watching at!Hey, you dont have to do a trade now and fomo in you can also just take some time and watch out at what is going to happen don't be scared to miss out something. There are a lot of oppurtunities you can take advantage of. What I had to learn was not fomo in something just because it went up. A lot of people that were bearish saying BTC will go down to 20k are now super bullish just stay neutral without emotions. Observe the market because everything can happen, if you think like that you will see what is really there and not what you want to see. I am still learning to get better at it. Let me know what your scenarious are.
by Tyrocrypto
3
5 KEY points to control FOMOHi Traders, FOMO is a VERY real thing and in this post, I wanted to share with you 5 key points that has helped me control my psychology around this throughout my trading journey. 1. Accept the market can go in any direction; Neutralize your mindset: The market changes very quick on any given basis and just when you think you have a perfect set up, it could take a turn and make profits turn into losses in matter of seconds. As you analyze the market, you need to have a neutral mind set understanding that price can go either way and as structures develope, you may need to change your bias and take a step back to look at the price action in a different view. If you approach the market in a neutral mind set, you are not "marrying" your set up and this helps reduce your emotions and builds your psychology. 2. Risk Management: Risk Management is the holy grail in trading. If you cannot control how much you risk, you are simply gambling. Losses are inevidable in trading and you need to understand you will always endure them, but keeping the risk at minimal (1%) will sustain your capital to be able to continue trading. Keeping the same risk on each and every trade and maximizing your reward ratio will help you compound your profits and eventually your losses will be outweighed by your rewards. 3. If you missed the first entry, there will ALWAYS be another one: Often traders will try and chase a massive drop HOPING that price will push down further when in fact could catch you with your pants down. Understand that there will ALWAYS be another entry that may fit your trading plan. If you missed the first one and start chasing volatility rather then sitting on your hands waiting for another confrmation, your judgement gets clouded which will the create revenge trading, greed, FOMO and capital loss. 4. Take what the market gives you; leave your EGO at the door: Any experienced trader will tell you to check your EGO. Just because you THINK the price will go to your target, it doesn't mean that it will. Price does not need to reach your target for you to be profitable, taking your profits as the market gives you will make you profitable. As the market moves and creates structures, at times it may not be ready to continue to rise or drop and that is why you need to manage your trades accordingly and adjust your mindset to acheive this in order to avoid uncessary losses. 5. Have a Trading Plan & Follow your Trading Plan: Having a Trading Plan is key in order to know when to get in or out of the market. If you are unable to identify your profit targets/stop levels, entries, exits etc. you are doomed to fail. Following a plan will help with consistency along with many other areas towards the road of success. Implementing a plan is just one area which will help gain confidence in this business, its what that plan entales which will help you succeed in this business. Every trader that has they're own trading style, plan, management and mind set and there is NO right or wrong in trading as long as you are following your plan and your decision meets your criteria. I encourage every trader to review your plan and make necessary changes as your journey continues to achieve greater results. Leave a comment and and share your thoughts around this topic :) Click the like button if this has helped you! Support more of these to help our community! Enjoy your weekend!
Education
by ktlfx
1
CONQUER YOUR EMOTIONSHello everyone Today I want to talk about a very important topic in trading – emotions. Emotions accompany us in trading from beginning to end: when we open a position, while we hold and when we close. Our psychological state is constantly being tested. All this leads to constant mistakes and loss of money. But how to avoid all this? The main reason Think about what is the main reason for your emotional swings? It may seem strange, but the main reason for emotional mistakes is the continuous observation of the price chart. You constantly look at the chart, watch every tick, the price changes its direction every second, you overwork and begin to doubt the correctness of your forecast. At the same time, it is worth recalling that people like to watch: movies, magazines, books. We are constantly looking at something and looking for something new. Forex is interesting because there is money there. When a position is open, traders are happy to follow every price movement. And when the position is not open, what do you do? That's right, you don't look, because looking at the market is just so boring. If the position is open, it is difficult to resist and not look at the chart. What is the reason for the shaky psychological state of the trader? Your drug Constant monitoring of the price leads to addiction. You get tired, the exhausting observation of how profit comes and goes, leads to big mistakes. Continuous emotional roller coasters kill the desire to trade in us and at some point, on a subconscious level, you want to lose everything just to get away from the monitor. Familiar? How to overcome emotions? There are many different ways, today we will look at three that will help you avoid emotional overload. 1. Use a higher timeframe If you trade on minute charts and experience problems with emotions and fatigue, you should switch to an older timeframe. If you start trading, for example, on a daily chart, there will be no need to look at the chart every minute, because the price does not move so fast. The daily or 4-hour schedule does not change so often and it will be enough for you to look at the chart once or twice a day. Thus, you will remove from the equation the constant monitoring of the schedule, which leads to fatigue. You will have fewer mistakes, which means more profit. 2. Daily goals A great way to reduce emotional pressure is to set goals. The point is that you set yourself a certain profit and loss goal every day, and when you reach one of the indicators, trading for you stops today. You can set yourself a profit and loss goal, for example, of 50 points. As soon as you earn or lose 50 points, you go to rest until the next day. This is a great way, and it will definitely help to avoid over-trading. But not everyone can force themselves to leave, especially after losing money. Follow the strategy, otherwise you will be pursued by losses. 3. Lot reduction For many, this method may seem strange. After all, everyone thinks only about profit and how to get it quickly. The market is a dangerous place and there is no need to hurry here. Reduce the position by 5 times and you will see the difference in your trading. You will stop making mistakes, you will follow the strategy. But why? The problem is that when trading large lots, the trader thinks only about money, forgets about risks and rules. This is how the trader drains the account. When trading small volumes, your brain will be free from thoughts of quick profit. YOU will become more reasonable and attentive. Results Emotions will not go away and the market will always test you. Strong emotional swings make you make mistakes and lose money. Use the methods listed above and control over emotions will come, the results will improve. May peace come with you! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩
Education
by Lingrid
22
Local Double TOP or CORRECTION? A key place for BITCOIN !!! 🌖😱Hello everyone, We are located in a key place for BITCOIN, and thus for all cryptocurrencies. We should watch this zone in terms of a possible local Double TOP. In that case, we should expect a drop, then a retest from below at $ 42.5k and a further slide. If the bears are defeated, I expect spikes even for the new ATH! The yellow lines are all the strongest resistances and supports, they should guide you like signposts on the road;) Comment and like, Good luck.
COINBASE:BTCUSDShort
by SayMoney
2
Correction or local Double TOP? A key place for crypto! 🌖😱Our Ripple token is in the place I expected from the bottom. We pierced the bottom line of the annual flag briefly, but fell out of formation and hugged underneath it. This is where everything will be decided. If we go up again and then break the top line of the flag, I will be very convinced of the increase to $ 4.5 However, if the bulls do not have enough strength, I predict a descent even to the last dips and lower. Remember about STOP LOSSES set for your strategy. I'm bullish on XRP for the long term and will never sell these coins from the SPOT wallet. Comment and like, Good luck!
Short
by SayMoney
1
BITCOIN IS IN VERY GOOD PLACE TO BUY ! 🔜🔝✔️Hello everyone, Bitcoin is down 42% It's a very good time to invest. If this is the moment of a price rebound, the profit can be very large. I consider it a safe entry, as whales and large companies (such as Microstrategy) have their average in these areas. The price may also go down which is very real but not to below 28k. Then we shouldn't worry, because the decline will be insignificant compared to the profit. Percentages described in the chart, calculated up to the last ATH. This isn't the end of the "bull market" and we expect 100k. We're in good places! The presented indicator (BITMEX Funding and premium index) shows it the best, which says that it is time to invest. The next such situation will be at 60k. Comment and like, Grreetings
COINBASE:BTCUSDLong
by SayMoney
Bitcoin put your seatbelt onThe greedy pigs (that sounds so violent lol) might be very close to coming back. Pig is what are called greedy gambling type "investors" that join at the top of bubbles, not my word. "Bulls make money, bears make money, pigs get slaughtered", an old Wall Street saying. I recently saw a man talking to a homeowner outside not too far, asking him if he knows someone that could work, I think he was putting "looking for workers" papers in mailboxes. In France. No one wants to work anymore. Companies are desperate for workers. Looks like a big population of potential gamblers that didn't work for their money and with way too much free time on their hands. 200k seems far but based on BTC past price action it could seriously be just 1-2 months away. And it's all going to be the exact same story (not calling a top): Gosh. I love roasting them SO MUCH. The few gamblers that survived will get their dream in the end. Out of the emotional gamblers with no rules of 2018 I would not be surprised if not 1 in 100 will make it to 200,000. Of course, as always this tiny minority will show itself, looking for revenge and opportunities to say "told you so". How about the other 99 gamblers that got broken? I know some people really wanted to shut their mouths, but the vast majority got crushed and isn't around anymore to get their mouths shut. And of course the ones still around are the survivors with survivor bias. Life is not fair, there are always a few lucky people that survive. But does it really matter? Being envious, jealous, angry, resentful is a punishment in itself. Good for them. Let's focus on our own performance. Not even the money, the perf. To be honest I'm acting all emotionally strong giving this speech but in reality it is I have such contempt for them that like... Whatever some ants are joyful lol. Exit plan anyone? Ye I'll just use my empathy (ability to sense people emotions). When they go foam at the mouth crazy I'll be looking to sell / place a tighter stop. I don't really have an exit plan. Important warning: Unless you are an advanced investor and absolutely confident in what you are doing, have some exit strategy planned in advance. Would be a shame to risk 1%, be up 30%, then only get 5%, or as many do "breakeven" (these guys risk all profit the whole 30% but not that last 1% oh the mighty logic). Don't want to end up not knowing what to do. Dayum think about it BTC has kept doing the same thing, the 2017-2019 gamblers were persuaded it would go way up. They held through pain. And then give up right before it shoots up. And now it's indeed doing what they expected. No rules. Full emotions. It did exactly what they expected topkek. They must be so upset. I'd literally spawn rabbies viruses any time I hear a friend talk about BTC, or hear it on the tv, if I was them. Daaaaaaym, that's so embarassing too. I couldn't live with myself. Even with a crystal ball they'd lose money. Clearly not anyone can be an investor. Not sure the right mindset can be learned. Literally my very first trade was me finding a high risk to reward with PAINT in NEO (/antshares) years ago. "Wow I can just risk that little and make this much? HOLY!". Also got hyped by insane arbitrage opps in crypto 2018, while "they" all were screaming at brokers for not letting them buy and sell at litteral random prices XD I swear, they did not even look at the price (was off by over 50% after some maintenances). You got to have solid guts and be ready to take risks, but be somewhat nitty picky at the same time.
INDEX:BTCUSDLong
by MrRenev
2
Are you revenge trading 😖🤔Revenge trading! It all catches us all out at some point in our trading journey's. The markets don't care about your loss and neither should you! Losses are a part of trading and have to be accepted. No one can be right 100% of the time regardless of method used. Revenge trading will add to those losses and compound that account draw down even more. Irrational emotions have no place in trading and they are what lead to revenge trading. The way to eradicate this issue is by going about your trading a logical manner. First off is build or use a strategy with a known proven edge. Second is follow that strategy to the letter and only enter trades when all your parameters/confluences are met. The markets take from the impatient and give to the patient ones. The example I am using on chart is using a trend following strategy of our own. This strategy is a good win percentage and I know that as the built in strategy tester shows me all the stats. As always the report box is at the bottom of the idea showing those very stats. A 61% win rate means losers still happen and as you will see on the chart the buy trade hit stop loss before price went on an upward trend. The old trader in me would of been pouring over this chart trying to guess which way will it go? What should I do enter a long again? That would of paid of in this instance but not the logical thing to have done it would of been luck and luck only. Who knows with emotions at play would I of had a thought the price was going to head down? Then place a sell order? Luckily I didn't have to make any of those choices with emotions at play. I accepted the loss on the fact I know I'm trading a proven strategy and I simply waited for the next trade alert and let probability play out. The next trade was a short that found it's intended take profit target. This process is more simpler for those who are using a mechanical trading system like the one on chart. But regardless of system or approach in use if you are following the trading plan to the letter revenge trading shouldn't occur. Find an edge, apply that edge, stick to the proven plan and revenge trading won't be your issue. Instead you'll be one of the patient ones that the market is giving to 👌👍 ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Education
by pow_removetheguesswork
The Reality Of Emotional TradingHello Traders, today I would like to talk about the reality of trading with your emotions, this can be whether you are a swing trader or a day trader we are all human and get emotional but we must learn how to control them and not trade when you are unstable. Emotional instability The most common reason why people plummet to the end of their forex trading is due to emotional instability. Forex trading in reality is all about how well you can control your emotions. Reality Mastering your fear, hesitation, anxiety, impatience, curbing down your greed and over confidence, this is all what any trading decision is based upon. It might be surprising, but a large percentage of people, struggle with the most basic step in trading forex, why? Because they downplay its importance. Being emotionally stable and in control of your emotions, is often overlooked because everything else seems much more important: profits, losses, risks, strategies, trading plan. Here are some of the ways which help you trade better: Be consistent. Do not lose faith in your strategy. Have a risk management strategy. Don’t switch strategies. Have a strong trading plan. Take a break. Learn to control your emotions. Don not revenge-trade. These are the 5 emotions you often feel while trading and how you may react to your trading Happiness – underestimate the risks Fear – we fail to act (inertia) Anger – Overreact (Revenge) Sadness - risk averse Greed – Take bigger risks If you cannot control your emotions during your trading you may react in a way which breaches your trading plan. This is extremely important as this is one of the biggest factors a lot of traders face while trading. Thanks for taking the time to read my post 😆😂😆😂😆😂😆😂
COINBASE:BTCUSDEducation
by Pips-Collector
1
Risk management lessonI mentioned it on another day already, but this topic is very important so I decided to share it again to reach as much as possible. Hope it will help some! The last weeks it happend again, I saw some traders with less knowledge (young and old) who crashed their accounts very hard. They lost a lot of money and for some it was very dreadful! It is hard to watch this people how they burn money and bring even his own family in financial danger. That´s why I decided to share one important chapter from my book here to you. May be some will find very helpful, or some will remember this rules again. I will keep it a bit shorter here as in my book, but the main points are still mentioned! I can´t say it often enough, keep the important rules in trading. Trading is not the way to get rich quick, it is a serious and hard business! It take a lot of time to learn, it requires a lot of patience and it will happen a lot of failures. This failures are even more important than your success! Success will not open up how it will not work, failures will. Let´s talk about risk management! For each investment you have to consider you take for each trade the risk to lose money, that´s why it is mandatory to handle each investment with a good risk/reward distribution. You have to keep in mind, the determined risk/reward is only theoretically and can result complete different. But with knowledge you can dedicate a good entry for your trades to keep your risk as low as possible. Determine important support and resistance levels and think about all situations what could happen and what will you do if you are going into the red or into the green? Which levels are the best entry and exit? This all will help you to determine your riks/reward ratio. What is the Risk/Reward Ratio? Successful day traders are generally aware of both, the potential risk and potential reward before entering a trade. The goal of a day trader is to place trades where the potential reward outweighs the potential risk. These trades would be considered to have a good risk/reward ratio. A risk/reward ratio is simply the amount of money you plan to risk, compared to the amount of money you believe you can gain. For example, if you think a potential trade may result in either a $400 profit or $100 loss, the trade would have a risk/reward ratio of 1:4, making it a favorable setup. Contrarily, if you risk $100 to make $100, the trade has a risk/reward ratio of 1:1, giving you the same type of unfavorable odds that you can find in a casino. Which ratio should you desire? Like described above, finding trades with high risk/reward ratios (1:2 or higher), will help you maintain higher average profits and lower average losses, making your trading strategy more sustainable. The common suggestion between traders is a distribution of minimum 1:2 ratio. In reality there are often even better ratios available, if you do your technical chart analysis. But what should you do if you have to cut losses? We have to place our stop loss right below our support or other important levels we determined before. The purpose is to cut losses before they grow too large. Stopping out of a losing trade can be one of the hardest things for traders to do consistently. However, failing to take stops can result in margin calls, unnecessarily large losses, and ultimately account blowouts. How big should I enter a position? To lower your risk I recommend to think about your size to enter a position. Overall you shouldn´t risk money you need, only deposit money in your broker you can afford. Entering small can be the smartest way to safe your account. I suggest that because of four reasons, the first reason is, you don´t risk to much of your funds and your stop loss should be tight anyway. The second reason is, you can average down if the price is going in the other direction, but consider this option only if you are sure what you are doing. The third reason is, you can buy the dips/pullbacks if the trend is strong and still heading in your desired direction. In addition, the fourth reason is, your emotional control is stronger if the price movement is heading in the wrong direction. That brings me to another topic. Should you use leverage? Yes I know, big leverage will give you big gains...but as a beginner you will not have the experience to know which trade has a very big potential or not. Even experienced traders use only a small amount to enter a position and not the whole fund. If you use leverage the losses can be much higher and the problem with that is, if you lose money, your leverage will also decrease significantly and the losses are harder to recover after each loss. So the answer of the question, if you should use leverage: For beginners we can easily answer: Take your hands of a big leverage! You can so hardly blow up yourself with that tool, it is ridiculous. Your way back into the profit zone will probably take years. But you have to save yourself and after a period of time, a period of taking profits and cutting losses you will gain knowledge until you feel much more comfortable on the market and you understand how trading really works, then you can consider to use leverage. Conclusion: As I said, I want to share only some big points about this topic, because I think many new investors don´t understand how important that topic is! Safe yourself and have fun in trading and learning! Sincerely, TradeandGrow Trade safe!
NYSE:AMCEducation
by TradeandGrow
2
The Hard Truth About Trading 😅 Well, that is just a joke. Or not a joke? In every good joke, there's a sliver of truth... So many people blew their trading accounts in a blink of an idea chasing the profits, so many people went bankrupt practicing leverage trading... Do not be that guy in a picture. Be a true trader! Never forget about risk management and don't be greedy. Never let your emotions control you. Stay calm and humble while you trade. Have a great weekend! ❤️Please, support these drawings with like! It really helps!
Education
by UnitedSignals
3
Today I want to share some very important points in trading!The last weeks it happend again, I saw some traders with less knowledge (young and old) who crashed their accounts very hard. They lost a lot of money and for some it was very dreadful! It is hard to watch this people how they burn money and bring even his own family in financial danger. That´s why I decided to share one important chapter from my book here to you. May be some will find very helpful, or some will remember this rules again. I will keep it a bit shorter here as in my book, but the main points are still mentioned! I can´t say it often enough, keep the important rules in trading. Trading is not the way to get rich quick, it is a serious and hard business! It take a lot of time to learn, it requires a lot of patience and it will happen a lot of failures. This failures are even more important than your success! Success will not open up how it will not work, failures will. Let´s talk about risk management! For each investment you have to consider you take for each trade the risk to lose money, that´s why it is mandatory to handle each investment with a good risk/reward distribution. You have to keep in mind, the determined risk/reward is only theoretically and can result complete different. But with knowledge you can dedicate a good entry for your trades to keep your risk as low as possible. Determine important support and resistance levels and think about all situations what could happen and what will you do if you are going into the red or into the green? Which levels are the best entry and exit? This all will help you to determine your riks/reward ratio. What is the Risk/Reward Ratio? Successful day traders are generally aware of both, the potential risk and potential reward before entering a trade. The goal of a day trader is to place trades where the potential reward outweighs the potential risk. These trades would be considered to have a good risk/reward ratio. A risk/reward ratio is simply the amount of money you plan to risk, compared to the amount of money you believe you can gain. For example, if you think a potential trade may result in either a $400 profit or $100 loss, the trade would have a risk/reward ratio of 1:4, making it a favorable setup. Contrarily, if you risk $100 to make $100, the trade has a risk/reward ratio of 1:1, giving you the same type of unfavorable odds that you can find in a casino. Which ratio should you desire? Like described above, finding trades with high risk/reward ratios (1:2 or higher), will help you maintain higher average profits and lower average losses, making your trading strategy more sustainable. The common suggestion between traders is a distribution of minimum 1:2 ratio. In reality there are often even better ratios available, if you do your technical chart analysis. But what should you do if you have to cut losses? We have to place our stop loss right below our support or other important levels we determined before. The purpose is to cut losses before they grow too large. Stopping out of a losing trade can be one of the hardest things for traders to do consistently. However, failing to take stops can result in margin calls, unnecessarily large losses, and ultimately account blowouts. How big should I enter a position? To lower your risk I recommend to think about your size to enter a position. Overall you shouldn´t risk money you need, only deposit money in your broker you can afford. Entering small can be the smartest way to safe your account. I suggest that because of four reasons, the first reason is, you don´t risk to much of your funds and your stop loss should be tight anyway. The second reason is, you can average down if the price is going in the other direction, but consider this option only if you are sure what you are doing. The third reason is, you can buy the dips/pullbacks if the trend is strong and still heading in your desired direction. In addition, the fourth reason is, your emotional control is stronger if the price movement is heading in the wrong direction. That brings me to another topic. Should you use leverage? Yes I know, big leverage will give you big gains...but as a beginner you will not have the experience to know which trade has a very big potential or not. Even experienced traders use only a small amount to enter a position and not the whole fund. If you use leverage the losses can be much higher and the problem with that is, if you lose money, your leverage will also decrease significantly and the losses are harder to recover after each loss. So the answer of the question, if you should use leverage is: For beginners we can easily answer: Take your hands of a big leverage! You can so hardly blow up yourself with that tool, it is ridiculous. Your way back into the profit zone will probably take years. But you have to save yourself and after a period of time, a period of taking profits and cutting losses you will gain knowledge until you feel much more comfortable on the market and you understand how trading really works, then you can consider to use leverage. Conclusion: As I said, I want to share only some big points about this topic, because I think many new investors don´t understand how important that topic is! Safe yourself and have fun in trading and learning! Sincerely, TradeandGrow Trade safe!
NYSE:NIO
by TradeandGrow
8
The three O's that have to go ❌The O’s in your trading game that have to go are shown drawn on the chart. The three O’s in the idea can all overlap one another and allowing one to creep in can lead to any of the other also creeping in to your trading. We have all suffered at some point in our trading journeys of these three phenomena. All of these O’s can lead to capital being impacted and potentially a blown account. We’ll start with over trading. On the face of it, over trading is taking too many trades. Over trading can occur when chasing losses or being on a particularly good winning steak. Either of those situations mentioned is essentially a loss of control. The loss of control leads to a loss of focus. The loss of focus leads to too many trades. Too many of those trades will be stupid trades. Those stupid trades will be losing trades at some point. All these trades mean increased commissions. The cycle continues and instead of compounding profits the only thing being compounded is risk. Compounded risk leads to losses and if the cycle isn’t broken a blown trading account awaits. Next is over risking. Risk management is key to any trading plan being successful. Stating the obvious in that first sentence. But I’m also stating the obvious when I say we’ve all been there and risked more than we should on some trades. Over risking more than our capital allows will only lead to tears and one outcome which is the blown account outcome. We end with overconfidence Probably the worse O of the three to allow in your trading behaviours! Allowing this one to sneak in can quickly allow the other two already covered to sneak in. Usually seen as a positive emotion in the world we live in, this emotion can quickly become a negative emotion in the trading world. Allowing this emotion to creep in blurs our perceptions to so many concepts we need for trading and can lead to a gambling mentality. Greed will take hold with overconfidence and when the winning streak comes to a cashing end the trader runs the risk of allowing the other two O’s to creep in leading to only one outcome. The blown account yet again. The O’s can crossover All of the traits mentioned can be experienced individually or some can crossover one another. Below are a few examples. We covered in the overconfidence how it can lead to the O’s creeping in. Overconfidence from a winning streak leads to overtrading which in turn leads to an inevitable losing streak and capital impacted with losses. Worse case scenario is overconfidence from a good run of trades leads to over risking on the next set of trades which loose. You then end up over trading in revenge to gain back the losses which could lead to yet more losses. You could be a new trader starting out with no confidence. You start to over risk from the off and lead to your trading account being blown. You could over trade combined with over risking which accelerates the loss of trading capital. In those scenarios mentioned confidence hasn’t been an issue at all. But risk management and trade volume have. How to avoid the O’s I'm pretty sure we all suffer one of O traits at some point in our trading journey. The key is to recognise the incident and the issues it caused and learn from that. It lies with us as individuals to own up to our trading mistakes. Some of us will suffer all three O’s in our trading paths. In owning up to our shortcomings all the O’s can be avoided going forward in your trading life's. Hope you all enjoy your trading week. Darren ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. Thank you.
BITSTAMP:BTCUSDEducation
by pow_removetheguesswork
Manage your emotionsTrading requires focus. It is crucial for traders to know exactly what to do to control their emotions while trading. It is also important to know when to accept a loss and move on. Here are 10 tips from the pros to manage your emotions while trading: 1) Manage your stops carefully. A cautious approach to stops and limits will keep you from making rash decisions. It hurts to get a trade stopped out, but over time you will save money on losses. Your trading journal can give you useful comparisons on levels for stops. 2) Don’t marry your positions. It’s easy for a trader to get stubborn, and to hold on to a trade just because he ‘hopes’ it will turn around. Close down a bad trade as soon as possible, take your loss and move on. Your trading journal will suggest the next move. 3) Follow each trade with a break. Trading goes on at a rapid pace, so don’t get caught up in the action. Take a moment to think about something else, and then come back and deliberate. Now look at your trading journal to get the next idea. 4) Set a fixed point at which you stop. After three, four, five or whatever number you choose, stop for a good long break. It’s when one trade follows another that most mistakes happen. Consult your trading journal and review your strategy. 5) Don’t keep track of profit and loss. Doing the math on your earnings will only get your emotions working. Concentrate on your trading strategy, and review your trading journal to develop it. Then, at the end of the trading day, you can check out how well or poorly you did. 6) Keep your mind on the plan. Don’t let the results of a few trades change your overall strategy and approach. Stick to what you have learned and what you have planned – use your trading journal to develop your next moves. 7) Don’t confuse prudence with fear. You want to trade prudently, using logic and reason. This may make you hold off on a trade. But make sure that prudence, and not fear, is behind your decision. Fear can wreck your trading by keeping you from making a trade. Use your trading journal to see if the trade makes sense, follows previous wins, or if the trade just doesn’t make sense. 8) Watch out for greed. Greed can make you stay in a trade when you had planned to exit, hoping to milk it for a little more profit. Such trades risk turning out badly, just when you thought you were winning. Use your trading journal to judge the best exit points based on past behavior. 9) Don’t act on anger. When you’re angry, hold out, wait until reason takes hold. There is no worse trade than a “revenge” trade, in which a trader follows up a loss by jumping right back in to recoup. Consult your trading journal to get back on track. 10) Don’t give up. There comes a point in every trader’s life when it just doesn’t seem worth it anymore. Don’t let yourself be intimidated. Trading is tough, but you can win.
Education
by MoonBets
5
TOXIC TRADERS ☠️📌 Both optimism and pessimism is the worst thing to happen to a trader. ⚠️ Please do not believe in a chart or have a faith for that... 📍 Being realistic and trade based on reasonable facts is the best way of trading. Always make decision based on facts and DO NOT TRUST YOUR HEART NOT EVEN ONCE. ⚠️ Set your risk by considering your character; are you willing enough to take risks as dangerous as completely losing all your money? ⚠️ As I wanna mention it again: NEVER BELIEVE IN CHART. Just see it as a potential oppurtunity. 📍 Trading is a game of numbers, mathemtics, algorithms, cycles, supply and demand, economics, etc. One of the most strict majors in the human history. ⚠️ Do not include your emotions and or you belief or faith in this game. This is not a financial advice, I just am willing to share my own experiece with you guys With y'all a very happy and profitable lifestyle
NASDAQ:AAPLEducation
by C_EWAVE13
5
Trader's worst enemy ☠️Hi everyone, Wish y'all have a profitable life. 📌 Today I would like to talk about a very important factor that every trader has to consider very important in their technical analysis. ⚠️ The topic is "EMOTION" and how it can lead to possible profit and or losing money. ⚠️ And how can you avoid "FOMO TRADING" ! 📍It's almost been a year that I have started trading and at the beginning I have participated in various technical classes such as ICHIMOKU, Price Action, E-Wave, etc. Furthermore, I can assume that I have made some money as well as some losses. 🧐 The question is; how to avoid serious money loss?? 📍 The answer may differ from each person to the other and person by person. However, the most common answer might be: "EMOTIONS" 📌 We are human-beings and it is completely normal for each human-being to decide based on emotions and not considering facts and reasons. 🧐 What does this exactly mean? 📍 The answer is: We may dismiss or not consider some reasonable facts and decide emotionally not reasonably. 📌 As you can see my E-wave analysis may be THEORITICALLY correct but not resoanbly. 🧐 What does it mean if we have a total of 9Trillion dollar of worth in crypto-currency? 🧐 What if this new version of .com bubble explode at some points? 📍Always, consider fundamental analysis in your technical analysis and your technical analysis in your fundamental analysis ⚠️ Keep your faith for when you are in church and your belief when you are in a hospital ⚠️ Trading is a game of numbers and numbers do not understand any emotions... ⚠️ Trading is a game of indexes, algorithms, pure mathematics and supply and demand, please do not believe in chart! 🧐 I am looking forward to update my toturial and tell you guys more about sentimental analysis. Please let me know if you have got any problem and or questions
CRYPTOCAP:TOTAL
by C_EWAVE13
Are you a champion hopper? 😬🙈Morning traders. I started yesterday morning by posting an idea with the phrase below. 'Lets start the morning with everyone's favourite! Gold' Well I'm kinda doing the same again this morning but this time it so we can all have some more food for thought at the breakfast table instead! Now here me out, I have drawn the two graphs in this mornings idea on the same gold H1 strategy chart I shared yesterdays idea from. The comment section was a good mix of feedback, some miffed at the stop out possibly and others very realistic in the reality that stop losses occur in trading. For this strategy yesterdays stop loss means we now have 5 losses in a row. But I wont be hopping off to another method or style either. 90% of traders get spooked at the first sign of a losing run and jump to the next strategy. Why will I stick with this strategy for gold on H1? Because of probability being factored in from the back tested data available. Hand on heart how many people out there actually back test a strategy? You can't plan for probability in your risk management if you have no data for your strategy. Transparency when sharing ideas has always been key for me and strategy test data is always included in my ideas just as the H1 gold data is at the bottom of this idea. This leads me back on to the graph drawings in this idea. The one on the left is the last two weeks of data for this strategy the one on the right is the last two years! Growing capital takes time. Losing runs are part of trading the growing capital part comes from trading a strategy with a proven edge. If you have a proven system why hop on to another one? I'll end this idea with a great quote from Steve Burns. '10% of successful trading is creating a system with an edge. The other 90% is following it' Enjoy your day traders. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. Thank you. Darren
Editors' picks
OANDA:XAUUSDEducation
by pow_removetheguesswork
7
Gold violence. They are buying the dip 😬Quick post to note Gold selloff. After a long overheated rally, the big correction might be here. I do not think the rally continues, hard to call a top, but here as price is falling straight down, I think this could be it. I would not buy before the price dropped at least to 1800, and bottomed. Retail traders are of course buying the dip, this could turn in yet another success story of 90% retail is long with the price in a strong downtrend, and their average entry is the top.
TVC:GOLDShort
by MrRenev
6
The Psychology Of Trading, Fine Line Between Success And FailureMost traders experience similar thoughts patterns and emotions on the charts. your psychology and your mind-set represent 70% of your trading performance. So smart thinking and discipline is more important than your strategy. That's why controlling it is what makes you profitable and successful. Range of emotions that can impact your trading: 1- Doubt: It comes after some losing trades you start doubting your knowledge and everything you know. Fight that feeling as much as you can trust your judgment and trust yourself. 2- Fear: Also comes after some losing trades and risking too much. the best way to fight this emotion is that you should be comfortable with what you are risking and if you feel uncomfortable LOWER YOUR LOT SIZE. 3- Revenge: An emotion that exist since the stone age. after your stop loss is hit you want to take a revenge from the market and get back your money. Well you should not take it personally at all and you should convince yourself that in the market anything can happen. "Main Tip" WHILE TRADING LEAVE YOUR EMOTIONS AT THE DOOR
Education
by FX_Elite_Club
2
The importance of intelligence to tradingINTELLECTUAL QUOTIENT The one we hear the most nonsense about and for 1 legit piece of info there are 500 TB of crap. People are super insecure about this. Even in investing circles, where individuals are at or above average, still insecure. Academics using Finnish data (because at 19-20 men have to pass an IQ test for the military) found that 25% top IQ (IQ > 110) make up 50% of market participants 25% bot IQ (IQ < 90) make up 9% of market participants So virtually everyone reading this should be average or above, and I don't do simple magical indicators so that probably adds another filter. Academics looked at tech stocks on the Helsinki stock exchange and found that in the sample period 1/1995-11/2002 the annualized returns (dividends etc included) were: - For the 42% with the lowest IQ 9.52%. The 1rst to 4rth stanine. IQ <96. I'll call them INT 1-4. - For the 4% with the highest IQ 14.45%. The 9th stanine. IQ > 126. I'll call them INT 9. A significant difference. Remember the vast majority are passive investors that just follow the market as a whole. Imagine 1/3 of a country invests, they have a separate life they're not all active. Much of the difference in performance - which is monotonously correlated with IQ - comes from lower IQ individuals joining at the wrong time. But even when ignoring the timing, and looking at returns as if they all joined equally over time (by adding weights to the data) scientists found that INT 9 (IQ > 126) returned 14.84% and INT 1-4 (IQ < 96) returned 12.65%. So not only wrong timing but also wrong stock selection. I am guessing they regrouped 1-4 to not humiliate people with intellectual disability (INT 1)? Sources: papers.ssrn.com papers.ssrn.com Proven by science, all the big liars saying it does not matter are big liars trying to be liked. About market timing. There is a clear pattern, it just jumps at you. Page 61 of IQ, Trading Behavior, and Performance you can see for yourself so I'll keep it short: Basically like it or not, people with an IQ over 105 (37% of the population), which already is the majority of market participants, are the ones buying during the bull market, and the average and below all rush in when prices start to go parabolic, making them go even more parabolic, smart people step away, and 1-5s hold the bag and keep buying when the price is clearly in a bear market (poor pattern recognition). To all the people that joined crypto in 2017 and are going "oh no not me": The Finnish data set only looks at men over 20. And the vast majority of those are well over 30. They had more than enough time to earn some money, hear about stocks, and get into investing. The European demographic pyramid is really terrible. And of course older people invest more than broke young people that study or barely started to work. People get into investing in waves. The tech bubble was when plenty of 20 yos (back then) got in. I didn't know I could invest by myself before 2017. All of us 20-30s are just a tiny minority that makes no difference stat-wise compared to the vast number of middle aged workers and retirees. For my defense I entered at the top, during the parabola but I was not a permabull, all the bagholding 1-5s were laughing at me for being bearish... I like it here, how it is now. If Bitcoin goes vertical to over 100K the 25% at the bottom will start to appear again. And start arguing. And making circular logic. And screaming. And sending threats. Oh boy. INT 6 represents 17% of the general pop & in this data 23-24% of market participants, INT 7-9 23% of the general pop is 36-37% of market participants. You know, even today after they lowered the level drastically, only 1/3 of people completes college education (or equivalent for us French), and they're not 1-4s. Seems obvious to me that someone that struggles with a division won't be making money in the markets, do people think this is manual labor? But whatever, as I said, IQ matters because these 4 things matter: 1. Pattern Recognition: The ability to understand the world through analogies. Predicting a crash because many elements are similar to the previous crash is not very different to looking at a bunch of dominos in an IQ test and guessing which one is next in the list. 2. Numbers skills: being able to quickly calculate risk, volatility, as well as understand probabilities. Good way to avoid holding a bag and waking up "Oh what? How am I down 75%? Didn't see that coming". You have to see that coming. You need to know how much you'll make or lose if the price goes up/down by x percent, how likely it is to happen using implied volatility, and much more. 3. Planning & Problem Solving: NEW problems. Not "learn by heart your school lesson" problems. Parrots and college professors do not make great traders. Learning by heart is useless. Every time it's different. "This time it's different". You can mix this with pattern recognition and it becomes obvious where I'm getting at: dumb money ALWAYS goes "this time it's different". You should be able to adapt to new variables, solve new problems, and be able to recognize how NOT different they are. All snowflakes are different. This is literally IQ at its finest and nothing more. You either see the "different" pattern of dominos and can solve the problem or you don't have the IQ and simply do not see it (and insult people that do see it call them stupid and conspiracy theorists). 4. Dealing with a lot of info: being able to analyse much information, while ignoring distractions. Academics that looked at data unsurprisingly found that higher IQ individuals had more diversified portfolios. And also, higher IQ individuals are able to analyse more data as well as ignore distractions (according to a BBC article). How to increase my IQ? There is a way. Only 1 way I know of: "Scientists found that multitasking reduced men IQ by 15 points, lowering them to the level of an 8 year old". I am certain it's not like this for women, prob just reduces it by 5 points or something, or maybe 0 idk. We men tunnel vision. So ye just focus on 1 goal only and get good at it. This "multitasking" will make you a complete noob. Literally an 8 year old to be more precise :D. Women have same average IQ as men also. I don't really know what the differences are for investing, probably not much. They're probably better at being organised too. That's just... so bad for me you have no idea. What a mess. Obviously it's also possible to learn about numbers and improve at it... And one learns to recognize snowflakes by studying plenty of snowflakes, regardless of his abilities (just will be easier for someone who scores higher that's all). EMOTIONAL QUOTIENT Why do I write so much? Good thing there is very little research about this, so not much to say. First, no, women do not score higher (in IQ either btw). Just because there is the word "emotional" in it people assume silly things. It's just a word. Irrelevant. So I'm calling it brzbjfbrhdjf from here on. These are pretty self-explanatory honestly. People with high brzbjfbrhdjf perform better than people with low brzbjfbrhdjf. There are exceptions. I found that people with LOW empathy made better debt collectors XD Better serial killers too I bet! A doc, not sure how serious, shows how they tested portfolio managers, and these had significantly higher brzbjfbrhdjf than average people. There is very little research on brzbjfbrhdjf, as opposed to IQ that has a lot of it, but there sure is a lot of "understanding" media articles about brzbjfbrhdjf, saying how great it is, as there are tons of articles saying how awful IQ is (insecure much?) and none praising it or just listing some of the positives. The market does not care where you bought, remember? It's about what the market is feeling, so go scream "BITCOIN IS GOING TO ZERO!" and find out if: - They are mocking you (honestly): They are complacent, euphoric or thrilled, depends. Can't really teach this... Have to "feel it" idk. - They are angry (includes mocking you but if you have high "empathy" & "social skills" you can tell they are mad): Anxious - They go "pfff", "I'm over it", they sigh: Well capitulated and depressed, bottom? So many people think the world revolves around them, and when there is someone they don't like they get persuaded that person is dumb or loses money XD They think if they believe hard enough it will happen? I find it stupid, so the term "emotional" intelligence might be accurate, the intelligence part anyway. I could go on but I think that's enough. If I find something interesting I'll share. It might be more important than IQ, OR not be more important but since all investors have high IQ anyway then IQ won't matter but "EQ" will differentiate between the mediocre ones and great ones. Having both = jackpots. OF COURSE here we talk about people that put in the hours. Obviously just having "good genetics" won't make you Mr Olympia if you drink beer all day long and never work out, know what I mean? People with low empathy can make money by the way, plenty of autists (famous for not being able to understand people feelings) are great money manager. Remember Michael Burry? Predicted the housing crisis and shorted morgage swaps, great at stock picks. Famous now, made lots of money. You know what else Michael Burry did? Short WAY too early. Because people were still way thrilled back then. And he quit managing other people money (I doubt he understood their stress), in an interview he explains how they were mad even after he made them lots of money. A guy with low empathy dealing with very emotional people (very emotional doesn't mean high "emotional" intelligence) and very little self-management (also little ba**s). 1. Self-Awareness: is the ability to understand how emotions affect yourself and other people. 2. Self-Management: is the ability to control impulsive decisions. 3. Motivation: is having a passion for what you do along with a curiosity for learning. 4. Empathy: as in the ability to understand how people feel (fear, euphoria, etc). 5. Social Skills: as in being aware of the people around you, people with different point of views. The military gets the best results by filtering at entry. Rather than punish everyone because of some gamblers, regulators ought to filter at entry. In some video game, would a MAGICIAN starting with 0 STR and built as a melee tank do well? No. People with low "IQ" and "EQ" have nothing to do in this business. Better to do something else. What else that I do not know. Society has a problem with low IQ individuals, there are no jobs for them. Tech advanced too fast humans can't keep up. Just convince intelligent women to focus on their careers and give welfare to dumb ones when they have kids, that'll solve the problem long term! I do not have autism (kinda disappointed), it's not that I do not KNOW this sounds distasteful to people, I am very aware of it, it's just that I don't give a rat's ass. Not going to start lying to be popular. Plus everyone can keep burying their heads in the sand, things will just keep getting worse. Specific to investing, people will low IQ/EQ will be told everyone can make it, buy a course or whatever, waste hundreds of hours, lose their money, quit. Oh great. But for a moment they felt really good and had high hopes. High hopes that got completely crushed. Great. At least some bullshiter got to be the nice guy! Most "1-4s" know they're not super smart and avoid the market, most people that get offended are 5+ but get offended in their name because they're so virtuous or something. But idk recently they're trying to "democratize" investing, and all sort of random people with no clue what they are doing and a gambling mentality are jumping in to pump the pyramid scheme higher. This can only end badly. So I wonder, are the people pushing for this nonsense really "well intentioned"? Or just trying to keep the pyramid scheme alive a bit longer and pump their holdings at the expense of "useless eaters"?
Education
by MrRenev
5
Gamestop announced they might sell up to 3.5 million sharesGME management has the intention to sell some shares, with the goal of getting $1 billion out of the sale, they registered 3.5 million new shares. To get $1 billion at a $150 price they would have to sell 6.66 million shares. The ADV dropped to 20 million and I think is likely to stay above the period where the company was undervalued lost and forgotten with 3 million ADV. That sale is not that big it can be absorbed by the volume. The share price gapped down by 10% in the pre-market yesterday (nothing out of the ordinary) then I assume as the market opened "diamond hands" (retail investors participating in online forums) bought up the company. The noise around the company probably helped them as their sales grew by 11% in the last 2-3 months, and their March sales were up by 18% compared to last year (US lockdowns started mid-late march and European ones too). As far as I know they are not officially telling wallstreetbet many (new) users to support them, but they are taking advantage of the hype and bagholding mentality. In their filing I think they say something along the lines of "We issue new shares. Maybe price go down. Remember risks", the typical useless and mandatory warning to protect investors from themselves "warning drinking bleach might harm you", "cigarettes are bad for health", "do not eat this tube of glue" and so on. I never heard of Gamestop before this, or perhaps I did if they made game reviews I'm not sure but I'm sure I don't remember for sure (you still here?). What I can recognize for sure is Micromania. Last time Gamestop had a billion in cash they used it to purchase french retailer Micromania which everyone in that country surely has walked by before, and they later merged it with another company to sell mangas and movies too to address the decline in gaming sales. Their brand surely is recognizable. So after only 10 years they finally decide to go online, now that their public price is 10 times their actual valuation. Since their name is so mainstream and much of their "investors" are random unsophisticated people as they say, maybe they should focus more on their public image sort of like Elon Musk does, maybe they do not want to become complete master manipulators like this freak but they could play with what they have while they are rebuilding (or trying to) their dead company. If I was advising the GME management I'd say to make sure the price stays in a range: bagholders breakeven if it goes up, and panic sell if the price goes down enough. Literally announcing you're going to sell 3.5 million, 10 million, even 5000 million shares won't get them to sell don't worry, it's "just fud", I bet to half these people it's just a ticker with an indicator and the elusive sky people known as "the big guys" are trying to get them to sell, after all thinking logically is for trolls that "just don't get it", but the price going down too much will trigger their deep fear emotions and get them all selling at the same time. This is not crypto you can't manipulate the price, it would be very efficient here, a shame. Elon Musk is playing with "simple people" emotions, and the SEC don't seem to mind, the "common folk" even sees him as a hero so why not spread a tiny bit of fomo? Within legal borders. "GameStop Announces At-The-Market Equity Offering Program" "Company Can Sell Up to 3.5 Million Shares and Intends to Use Any Proceeds to Further Accelerate Transformation and Strengthen Balance Sheet" news.gamestop.com I am curious, who are the people buying actually? Bagholders averaging down? Or just random people that "buy when there is blood in the street"? My own actions: Not buying, not selling.
NYSE:GME
by MrRenev
22