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Didn't see that coming.. | Was there any clues I left unnoticed?NASDAQ:CGC - REKKKT This is not supposed to happen before factor X (luck?). IMO I think I did with the analyzing solid job. Please, no matter how small thing it might be. Let me know in the comments to improve I'll walk you through my thoughts: The Canopy Growth Corporation hit it's bottom on Fri 07/14/23. It fired up those Dank fueled rockets to head outer space with +350% gains. I started to see exhaustion after the first pullback. After this the chart doesn't show the same momentum and there's some divergence that will be reappearing theme the following days. You start to see decline as one would expect after this kind of run. My interpretation is that according to price action, it's starting to form a descending channel pattern. When the double top formed I was convinced the following day would come down crashing. This happened instead. Can I blame bad luck or was there other factors that needed to be addressed? Just like in the game of poker you will run into situations where you lose to one outer on the river. Please leave a comment and let me know what is your point of view. Thanks! I salute you all🫡
NASDAQ:CGCShort
by Crack_Daddy
The Story of a Failed Trader | OKXIDEASOnce upon a time there was a man who was a very poor and he belong to a middle class family but he had the ability to dream it. He was 20 years old and he also think that he spend all of had 20 years doing nothing, he was a dreamer. He wanted to become a rich man, he finding ways to become a rich man, he tried almost every thing but failed. One day he watched a video about trading on YouTube and he decided to become a trader, become a rich with trading and fulfill all of had dreams. He started to learn trading, he watched all of educational videos about trading on YouTube and spend had 15 hours every day just watching videos, now he knows about the basic trading he shifted to the analysis part of trading, he started to practice and learn the technical analysis. He find the method that he can trade with, he combined some technical indicator signals and created strategy for himself. Now he had very passionate about trading, wanted to open a real account and start trading with real account. He had some saving money around 500 dollar he deposited that money in the real account and start trading with that money. He started dreaming from the first day of trading and created some trading rules for himself like he had to take 10% risk per trade and don't take that trade which is below 1/1 risk to reward ratio. On the first day he had taken almost 3 trades and win all of them, now he was more excited for trading he had made $192 profit means something around 38% profit on 500 dollar account. He wanted to trade more but he was a little bit smarter one, he think that i am in profit and my wining ratio is 100% so why i just damage my wining ratio and why i just risk my today profit so he had decided to come back tomorrow. On the second day he had $692 total balance in the account, he had to play a little bit more smarter than a previous day and he decided to take 10% risk per trade of the current total balance $692 in the account rather than the starting balance which is $500. On the second day he take almost 4 trades and he won 2 trades out of 4 trades, now the account condition had almost break-even no loss & no profit, he decided to try again and trade more, he finding the reason to trade more and then he calculate today and yesterday total taken trades which is 7 trades, he think that i won 5 trades out of 7 trades so my wining ratio is almost around 70% which is good and i can trade more because my wining ratio is still above 50% so i am still in positive side. He trade almost 3 trades again and he lose all of them, now he had very sad and almost broken, he decided to step back and come back later. He sturdy himself and come back on the third day, now he had facing a little bit draw-down on the third day the total account balance is around 484 dollar, he started looking for the trades opportunity and at the end of the day he took almost 5 trades with the 10% risk per trade but the third day results had also again bad and he lose 4 trades out of 5 and just win 1 trade, he had very shameful from himself, he closed the laptop goes to outdoor and talk to himself. He analysis the current situation of the account, it that point the total account balance is around 276 dollar he almost around 45% in draw-down and the wining ratio had below 50% so now he entered to the negative side. On the fourth day morning he traded 2 trades and he lose both of them now he almost lose the hope and the account condition had around 72% in draw-down and he left only 138 dollar in the account. At the time he give up and he just decided to depend on just one trade, he just waiting for the best opportunity of the day and finally he got the trade but at the end he lose that trade again and he almost blow out had account. After that all he had stressful and sad from almost one week, he decided to leave the trading and move on to the next thing and he looking to find other things that suitable for him because he think that trading is not suitable for him. One month later he just scrolling on the internet and he see the FAQ that 90% of traders lose and only 10% had succeed, now he had a little bit shock and he think that its pretty normal every trader in the 90% had facing that stage which stage that i faced. He decided to come back to trading and start from the zero, he started to modify had strategy and created new rules for had strategy like he set this time risk to reward ratio for had trades is minimum 1/2 and he decided to risk only 2% of the total account also he decided to take only 2 trades per day, this time he opened the demo account rather than the real account and start trading with demo account, he decided to journal had journey and after one month of consistency he hadn't break any rules and when he see the results after month he had profitable, now he feel like stronger and he continue the journey with that same demo account after three months he had similar results and still profitable. In that time he think that i don't have much money and in trading it's required a lot of money to earn a lot of profits, he started to search for that how he had to prove himself to big investors and raise money for himself to trade. One day he searching and he knows about prop firms trading now he had interested in that and wanted to know more about prop firms, he think that this is the big opportunity for himself to become succeed quickly, now he decided to trade with prop firms and buy the challenge from the prop firms, he adjusted had strategy rules and trading plan according to the prop firms requirement, now but the only problem is that he don't have money to actually buy the prop firms challenge. By the way he was dropout from the school after completing had secondary education and so he just setting at the home, he don't have much money to buy the challenge, the pocket money of him had just depend on him father and he hadn't want to say to father to give me extra money because of him father was very poor and he work as a taxi driver, so then he had decided to get the any kind of job for himself and try to earn some money in the form of salary and buy the challenge with that money, he worked hard and after one month he got the salary and then he just swift to the prop firm website and buy the $50000 account challenge for himself, now he started trading with challenge account phase one, on the phase one he decided to risk only 1% per trade, take only 2 trades a day and the every trade risk to reward ratio had to minimum 1/2 after one month of consistency he gained +8% profit, he was in profit but he hadn't achieved the prop firm required profit target which is +10% in that case prop firm gives traders free retake so then he take the challenge again with the new account and new month from zero and he think that my wining ratio for the previous month is almost around 40% with minimum 1/2 risk to reward ratio and my daily limit is 2 trades so i need to increase my daily limit from 2 to 3 because if i traded with the same rule 2 trades a day then i hadn't pass with 40% wining ratio. He calculate some numbers like he think, if i take 3 trades per day so then at the end of the month my all trades had to be 60 trades per month and if i maintain my 40% wining ratio then i can easily pass the challenge with that mindset he started the challenge and strictly follow the rules after month he hadn't maintain the 40% wining ratio and he end up with some loss and failed the challenge, this time he almost faced big depression after some days left he realized had mistake and he think i made mistake that i increase my daily trades limit because of this my wining accuracy goes down, i just forced myself to take 3 trades per day and get trapped into the normal trades. At that time he hadn't left any pathway he almost try everything but at the end he faced failure, him father had now getting older and he decided to step back again he start going to the normal job and start saving 30% of had salary, he do that job for almost one year and after one year later he had some saved money in the bank account to buy multiple 10x challenges, he come back to the trading but this time he hadn't leave the job and he do trading like part time thing. He started had journey again he decided to hadn't give up and repeat the process so then he started buying challenges after one by one in some challenges he failed in phase one in some he failed in phase two in some he almost pass the challenge and got the live funded account but hadn't get payout and lose the account in the first month. The journey had started goes on and he just repeating the process and doing try again and again. Will be continued..... Some lessons from the story > Never open real account in the start, try to learn first on demo account. > Don't try to be smart in the front of the market. > Don't lose hope in draw-downs just repeat the process of your trading plan. > Take every trade with the hope of wining. > Never depend on a single trade. > Don't leave too fast stay in the market. > Give yourself enough time to create the solid proven strategy that works at least for you. > Respect your trading limits. > Don't depend on just trading and never leave your job, consider trading like part-time thing in the starting. > Learn from your mistakes and improve your performance. > Make mistakes but don't repeat that mistakes again. > Never depend on small capital always look for an opportunity. > Journal your journey, record your trading performance and improve next time. > Don't fear from failure. > Be patient, market is here not going anywhere. > Don't force yourself to take normal trades wait for good opportunity always. > Don't count the numbers, you need to count the percentage. > Don't try to be rich quickly. > Step back, if you damaged from market then simply step back and come back stronger don't try to fight. If you learned any other lessons from the story, let me know in the comments. What you feel about one day he will be succeed or just the failure always, also let me know in the comments. I hope you enjoyed the story, appreciate my work with like comments and share. I wish you good luck in trading.
Education
by TheLoserMan
1
HODL on a little longer before buying more.... Just an idea of HODL's current pattern. It appears to be built on shaky foundation...still a bunch of noise about CHIA on the boards however the figures are so wildly entertaining it would be a 1 - mil long shot that Tony scored the deal the way people are talking. Currently we are bleeding based on BTC cost...how long can the soccer star keep up the appearance before he has to unload some to cover costs? I was a fan...now I'm a skeptic....still holding for an exit but not happy with the current situation.
CSE:HODL
by Honkytime
5
FAILED TO RISE BUYERS SQUEEZED - REMARK HOLDINGS - MARK - DAILYRemark Holdings Inc share have seen an important rise but since June we notice that the tops are falling, moreover, buyers have been squeezed in the middle of the month. The formation of a potential triangle in the market shows that decisions are not be made before the first week of July. Only a break of the red line or the secondary dotted lines will tell us if we can be active on this market. Possibility of having a market ranging until then.
M
by Diallo_Charts_Ideas
4
<COMPARISON> When Should You Jump The Trade? - 05/07/20 RECAPHi traders, Today is a holiday in my country so I laid back and didn't rush with Thursday's Recap. That allowed me to do an improvised comparison of two trades - one from Thu and one from Fri, both of which I exited earlier and possibly cost myself some money. We'll look at all the variables that go into deciding whether you should "jump the trade". My Trades: 1) VIAC - LONG @17.04, a breakout long that proved weak, exited early. -0.46% 2) ZM - LONG @158.10, a nice breakout in a crazy spready and fast market. To be honest this was a test for me that I took with half the usual position and failed to hold for more profit. I got a "taste" of what this type of stock feels like when in trade to be able to slowly get used to it. +0.98% 3) CNP - SHORT @17.88, in retrospect I should've settled with the +1% it offered before close. +0.05% 4) SAVE - SHORT @9.79, a nice breakdown setup for a scalp, sadly didn't work this time. -1.05 5) SNAP - LONG @18.05, a breakout late in the day over a major resistance. It went only a couple of cents before pulling down again - should've closed earlier as per this video's topic. -0.85% *In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the trades' description.* Total PnL for the day: -1.33% Total PnL for the week: -0.36% Good trades, Tom | FINEIGHT
AMEX:SPY
by Fineight
Daytrading RECAP 04/07/20 - SPY Cost Me -1.875%!!Hi traders, Tom with another recap here. *In my ID trades, I risk 1% of the account per trade and go for 2% (2:1 RRR ). Sometimes I adapt a little bit as you can see in the graphs.* I hate losing as much as the next guy, but let's be honest, trading comes with losses and as long as you keep them low it's fine! Two trades today: 1) APA - entry LONG @ 6.85 with 6.45 SL, exited @ 6.5 (saved some money) 2) DAL - entry LONG @24.01 with 23.61 SL, exited @SL SPY behaved funny for my trading style and spoiled my plays. But hey, it's always times like this to come up with some tweaks. This means I gave up -1.875% today, but still slightly profitable for the week and we've got still 2 more days to go! Last week I ended with +8% so let's see. Fingers crossed ;) How was your Tuesday? Did you beat me? Good trades, Tom from FINEIGHT
AMEX:SPYLong
by Fineight
2
Today's Beautiful Confirmed AMD Short & How To Spot ItHi traders, Another recap of today's ID session. Great mover AMD which I was planning to go Long in failed and instead offered a great Short opportunity. Key takeaways from the video: 1) Always be ready to be wrong in your expectations and profit from the other direction. 2) Watch for relative strength/weakness compared to the overall market! 3) Wait for the candles to close so you won't be shaken out. That's it, hope you can make some good buck next time you see a similar situation! Good trading, FINEIGHT team
NASDAQ:AMDShort
by Fineight
Ardor's failed bottoming processSometimes small caps new tech bottoms can fail. We can clearly see that Ardor formed a particular bottom with the leg and foot stopping the downtrend (see the previous TA). But sometimes the bottoming process can fail, when the value goes below the trendling corresponding to the first rounded bottom attempt. Ardor's value ended up going below the rounded bottom trendline There is still no Smma golden cross on the daily, which makes Ardor very late compared to other crypto assets, and therefore very risky as there is no visible bottoming pattern.
A
by Giovi6969
4
Why are you failing? Part 2Accepting that you were wrong has to be one of the hardest things in trading.The worst has to be when you’re on a winning steak ,and then BOOM you have that one trade that goes the opposite way of your entry.Even if you have a stop loss you start to move it further away allowing it to gift the market more money. You can’t take the loss because of your ego ,or maybe it just bothers you to see your account go down.Maybe you start telling yourself that you have been in other trades where you took a loss and then it went right back where you bought it and much further. These are the times when decision making in trading becomes difficult and emotional.At the end of day trading is very difficult which requires a lot of moving parts for you to be successful. Quote of the day:“Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.” -Michael Marcus Trader Essentials from Amazon 1. amzn.to -Tylenol Extra Strength Rapid Release (LOL) 2. amzn.to -Encyclopedia of Chart Patterns 3. amzn.to -Apple MacBook Pro 4. amzn.to -OLLY Goodbye Stress Gummy,
by TheTradingProdigy
SCHOOLS BRAINWASH OUR KIDSAs you can se price is at a very strong support level as marked out by the orange arrows, so we are expecting a bounce and a rally to the upside. You see how simple trading can be? So why do schools not teach the tools you need for trading if they really want people to succeed? That's correct because they want to brainwash you and hide you from making proper money so the government can keep you in line and control you. You go to work to pay for a lovely house that you are never in because your always at work... just so they have you by the balls and you have to keep working to pay the government there tax's. People are set up to fail from the 1st day they go school. Open your eyes people and don't be a brain dead zombie like they want... P.S what do you think the government are putting in your tap water? i would go and do a bit of research if I was you. Anyway we are long on this trade.... RANT OVER ;p
Long
by Apex_Gregg
6
BTC failed to gain -> Head and Shoulders, Possible dip to $3650BTC failed to regain any level today, rejected the big levels and put in a lower high. In addition to this we are currently making a new h&s pattern which has a good statistic rate of playing out bearish. I'm looking for a final target for my short at 3650 right above the liquidity zone. We might dip into the liquidity zone so I will have my buy-orders stacked at that area to get a good exit on my short and possibly flip long. Trade with caution
BITMEX:XBTUSD.PShort
by Pineapple1k
Ethereum re-enters downtrend. Goodbye Ethereum, My salutations.Ethereum has broken through its neckline to the upside in the wake of bitcoin's movement but it has broken to the downside on no volume which is still a valid break because topping patterns do not need volume and Ethereum has and will collapse on the weight of itself, this is an unfortunate event and it is extremely like that it will continue a downtrend especially since Bitcoin dominance is rising. In fact, most alt coins would be questionable investments at the moment. I suspect with each movement down in bitcoin, a movement down in Ethereum will occur, but there will not be the same movements up to negate it, in addition, Ethereum may not have as strong of supports as bitcoin will since capital is slowly shifting over. Key Points: 1.) Ethereum has broken through the neckline of its inverse head and shoulders to the downside due to no buying power. 2.) It will most likely be one of the first coin to diverge from bitcoin as a bitcoin season is on the horizon. Previous Analysis:
COINBASE:ETHUSD
by CuddlyCuddles
$BTC #Bitcoin - Head and Shoulders wishful thinking - EXPLAINED!Hello Lads and Ladies, Everyone is looking at the possible Head and Shoulders formation playing out and I have to admit that I was one of the first people to call this formation but as soon as I started seeing this TA almost EVERYWHERE, I got very sceptical and started looking for reasons against my own TA. First of all, this is the ugliest and weirdest HnS formation I have ever seen. We have clear breakouts from this formation, with these breakouts a double bottom at our new support, the tips of the shoulder do not match and also the bounces and volume lack completely. In my opinion this HnS is simply wishful thinking. The very first thing that should have happened is a clear rejection from the neckline and a very steep drop. If you watched the price and the drops, we basically had small 100-250$ drops followed by a sidewards movement. This is not how this formation should play out. We should see nice and steady drops with very small stops but not take two days to decide what to do and then start climbing down.**Again, this is exactly what I mean with KNOW YOUR CHART - you might see candles and base your TA on it but only from that you don't know what happened "inside" this candle so assumptions only based on single candles is not very reliable (See also the last green candle that touched the 6800$ as we talked about it, this was only in the last 15 min of the day but it is displayed as if the whole day was just going up..)** This is already weird but still alright as long as we are going down. So the next step would have been to fall down to 6150-6050 (like the left shoulder) and then have a bounce above the candle which touched the "bottom". Again.. we saw a 250$ bounce which took almost more than 24h and during that time we have crossed 6150 multiple times and even touched 6100 yesterday. Now with all sanity, is this what should happen in a HnS formation? Is this how you bounce? Is this HnS formation still valid? ABSOLUTELY NOT. What people expect here to happen is a beautiful bounce, a trend reversal, a movement to 7k and maybe the end of he bear market, unfortunately in my opinion everyone betting on this scenario will get slapped in the face harder than expected. I can tell you why. For this very beautiful scenario to happen we REALLY need to find a strong bottom. First of all, since when is $6100 a bottom..? We have set a new bottom at $5800 and first we need to confirm that this is the bottom we are looking for. To confirm this, we need too come down to it again. As I see it, this MIGHT be our bottom but I consider to it a higher chance to be "the bottom before the bottom" (M.Slogget) and the longer it takes us to get to it and we keep climbing down stairs, the deeper we will go. The reason for this is very simple and can be explained with something everyone knows here - the market bloodbath. To find a bottom we have to crash REALLY hard, we have to see these double digit negative numbers again to be really at a bottom and then not just for one day but 2-4 days straight red digits, so we are REALLY REALLY at the bottom, all indicators are down and everything is set to go up because there is nowhere else to go. I HOPED, that we will see that whenever we touch the neckline and everything will start crashing at that point. Instead what we saw was more comparable to an easy walk down the stairs with a complete lack of any volume and momentum. The awaited $1000 bounce was only 250$ high and took two days - this is ridiculous.
BITFINEX:BTCUSDShort
by KongTrading
17