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Do you keep LOSING? I know why!1.79000 is the magic number on this pairing, yes you guessed it good old simple support and resistance level... See how simple it really can be? I hope i am drilling it into you that SIMPLE REALLY IS BETTER! Do you find you keep losing and cant turn a profit in the markets? i hold all the answers. This is down to your mindset that has been programmed rite from the moment you were born by the people closest to you. They didn't mean no harm and probably didn't even know they were doing it, but i can help rewire you mind! Come have a chat with me, i look forward to speaking!
Long
by FreeForexSignals
Psychology of OTHER People in the Market Matters More Than YoursMorning Traders - The next in our series of education posts is going to focus solely on Psychology. specifically regarding the psychology of OTHER people in the market. Once you nail this topic its going to give you a huge edge on the market. Any trader is always looking whether the next few price swings are going to be bullish or are they going to be bearish? That is the essence of trading - If you know the next few price swings are going to be bullish then it makes it easy to make money right?! Once you have this identified then you simply just need to time your entry, the safest way to do that would be to be watching for a short term pullback against your bias of where the price swings will be headed. Its important that when looking at these price swings, you watch HOW the price moves, don't need to concern yourself with any chart patterns or candlesticks, but ask yourself as you watch the price move, is the price moving with strength or weakness? If price is pulling back from your bias with weakness then this is an opportunity to place your entries and wait for the price swings you have anticipated. If price pulls bask with strength then it could be time to consider you bias again and stay on the sidelines. The real key when analysing price action both in the long term price swings you see and in each movement within those price swings is the psychology of everybody else that is trading in that market with you. Much has been written and spoken about regarding making sure you own mindset and psychology is right within trading but I personally feel understanding how other people are feeling within the market is worth so much more. Once you understand how other people are feeling, their emotions etc then its becomes easier you predict their actions. One of the most powerful emotions we feel that affects our decision making is fear. Im sure everyone can easily anticipate the actions of a fearful person, so we just need to translate that into the chart. So start watching where are people getting trapped into bad positions? When are they feeling fearful that they made the wrong trade? When are they praying for the market to turn around? These are the traders you want to target because by their nature these are weak traders and likely unprofitable ones, you want to watch for points in the market where these traders know they have got it wrong.. So you should be looking to take the other side of their trades and profit from their mistakes. The other major aspect of fear you should look for in markets is FOMO. Fear of Missing Out. You see this type of emotion ALL the time in markets, its essentially the market equivalent as when you see people run for the tube / underground as the warning beeps have started and doors are closing... People who have been sat watching the market for a while suddenly see it moving in one direction and start running to enter the trade as quickly as they can... the psychology of this is that they will likely enter with the wrong position size, they haven't analysed the new market conditions that were different from when they were watching the market before, and most importantly their risk management has now gotten out of control. When you see after an already strong price movement that it starts to slow down momentarily and then rockets again in the same original direction - This is typical of FOMO trading. Its wise when you see this to start thinking about places some trades opposite to these traders. So when people say you should analyse price action - this is the most powerful way to do that. Its not about head and shoulders patterns, its not about doji candles or anything else you hear spoken about... Its simply about human emotions and how they are expressed within the charts. To be successful you need to start identifying the moments and points in the chart where you know people will buy after you have already brought, or where they will sell after you have already sold.
Education
by JoelWarby
What To Watch For Before Stock Market CrashesWhen I asked my members for topics they would like educational posts about, this one came up. I chose this one as its widely suspected that we COULD see another market crash soon, so its best to know what to look for before it happens. VIX One key chart you will start seeing react is the VIX. This is the Volatility Index, or sometimes called the Fear Index because it measures the predicted volatility the market as a whole expects. Typically when you see the VIX rise, it means we can suspect to see stock market prices start to fall. This is because usually market increases are a slow steady march upwards over time whereas any crashes are highly volatile. Please take some time and compare spikes in the VIX chart to the timeline on the S&P. SPDN This is a chart I watch constantly, and should be a member of your watchlist too. The SPDN chart is an inverse ETF of the S&P500, in simple terms when the S&P falls, this rises and vice versa. This goes one step further than just predicting volatility, it shows you where investors are actively betting on a market crash. Clearly this is a strong indicator of which direction the market participants expect the market to move. Its important to watch volume on this chart, not so much price - because you are interested in times investors are moving money into this asset. You will see a large increase in volume before many recent crashes. DBPK does the same for European stock markets. Fundamentals Anyone who has watched The Big Short will understand how a clear understanding of economic fundamentals will show you when and where to expect market crashes. This movie dramatises how a small group of Wall Street investors predict the 2008 financial crisis, and subsequently profit immensely from it. So it will definitely pay to take the time (years and decades) required to truly understand market economics and the fundamentals of the financial world so that you can identify weaknesses in the framework of the stock market too. My Current View I personally posted about this very topic where im seeing some of the typical warning signs before a market crash happen RIGHT NOW. I have linked to this post where I go in a little bit more detail about the current climate in the related post below.
OANDA:SPX500USDEducation
by JoelWarby
2
200+ PIPs 1.29500 is a key strong level that has been respected as both support and resistance before as marked on the chart by my purple arrows, price has hit this level and bounced numerous times making it a very strong level. Now as this level is 200 pips away i am selling down to this area where i will look at taking BUY trades, So bears should push price down to this level before bulls step back in. If you would like any help trading just send me a message :) Lots Of Love Laura x
Short
by FreeSignalsUK
8
Change your mindset - Dont Trade Forex.... Invest in Currencies I had been looking to do a market breakdown this weekend but to be honest, all the opportunities in the market have already been shared in my previous ideas posted. So instead I am going to share a topic I have spoken to a lot of my followers about recently. The mindset of trading, or should I say investing... because that is really how you need to see it if you want to be able to trade consistently with confidence and conviction in your ideas. Lots of people, especially newcomers to trading and FOREX simply see a chart and make a decision if the line is going up or down. A guess, a gamble. Even though I know we ave all done this at some stage, its not a strategy that will mean you are still successful in 5, 10. 20 years. If you want to make money in this industry you need to have the mindset that you will still be doing this in 5, 10, 20 years. Once you start doing that it gives you a calmness to think though each trade like an investment. So, before we get into this - I will explain the difference between a trade and an investment. - A trade is something you are typically taking a position on leverage and for the short term, a few minutes / hours / days. Typically you are only looking at one only that chart and have a clearly defined exit if the trade goes into loss. - An investment is something you decide to take a position in based on the underlying facts/fundamentals of what you are buying, the price is secondary. You consider more than just that one chart you are placing the position on and are willing to hold it indefinitely whether its in drawdown or not because you know the underlying fundamentals are right for you investment to come good in time. So once you see the difference, which mindset and process is likely to play out successfully in 5, 10, 20 years time? Which mindset is likely to give you less stress while in positions? Which mindset will give you confidence and conviction in your positions? All of this confidence and conviction in your positions is based in knowledge - In this industry, knowledge truly is power! So when I say dont trade forex .... invest in currencies its because the mindset of trading forex is based in looking for quick wins, get rich quick stories and rented Lamborghinis. Whereas investing in currencies is based on the mindset to still be doing the same thing in many years time. Its the difference between aiming to be rich or to be wealthy. The process of trading forex is looking at EURUSD and wanting to go short because of a chart pattern or something you have seen in the chart. The process of investing in currencies is to be looking at the Dollar and seeing strength across a number of different charts involving the dollar such as DXY, USDJPY, GBPUSD. And then also having a separate opinion of weakness in the Euro by doing the same thing and considering the Euro across a number of different charts. - Once you have identified both strength in the Dollar and weakness in the Euro you are able to confidently invest in shorting EURUSD. At this point you have conviction in your position. Please let me know your thoughts in the comments and for more posts like this follow me.
Education
by JoelWarby
12
BT became a BUYGood opportunity to buy BT shares at this level - Be aware that the long term chart for BT is bearish so this becomes a risky buy... but I can promise you these are the best prices to buy the stock. If you have any shares already invested in BT then this is a great opportunity to add to your position and benefit from a better average cost. Arrow for directional purposes only. - Contact fro more advice regarding TP & SL. Be clear this is an investment NOT a trade. Know the difference. Happy Monday!
LSE:BT.ALong
by JoelWarby
3