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Ftmochallenge

A Trader's Perspective on the Formation of a Triangle PatternHello, friends! I want to share my forecast for the FTM coin in the cryptocurrency market. Recently, I noticed the formation of a triangle pattern on the weekly chart, and I believe that this could be an interesting signal. My analysis suggests that there is a possibility of a pullback to the range of 0.24, where I plan to consider buying FTM for a long-term position. However, I want to emphasize that this is just my opinion and should not be taken as financial advice. As a trader, I understand that making decisions in the cryptocurrency market requires thorough analysis and risk assessment. Therefore, before making any transactions, it is important to conduct your own research, consult with professional financial advisors, and evaluate the current market conditions. Remember that the cryptocurrency market is highly volatile, and investments always come with risks. Be cautious and make decisions based on your own analysis and careful consideration. I wish everyone successful trading and the ability to make well-informed investment decisions! Stay updated with the market, be prepared for changes, and never stop learning and growing as traders. Good luck!
Long
by Jellyfish_Warns
1
Last Trade of 2023 - AUD/CAD LongMight be the last trade of the year for me. Swing trade on the H4/H1 timeframe confirming the bullish structure with a candle's close above the previous highs. Retest on the H4 OP of the bullish impulse, imbalance closed. Change of structure on the H1 and entry on the retracement. (H4 Bearish candle with rejection and high volumes = high effort, small result for sellers). Retested 75% quarter of the dealing range (Quarter's theory), targeting the next high. Good luck traders and happy holidays
Long
by andrefx24
PROFIT! How to get past your lizard brain and make money!There have been quite few books written about this, and mainly, they deal with how to avoid being defeated by your own fear and greed. Fair enough, and this article does NOT replace them. The books are best suited to those who have traded for a while, and need to improve their performance. If you are a beginner, you won't know the first thing about the various emotions that grip you when you are trading, so reading about them at this stage is futile. However, there is a way to immediately benefit from one simple thing you can do. See my profile for reasons.., everyone should use a dummy account at first, but it's very hard to know when to switch to real money. For a start, the emotions are really not there at all when it isn't real cash you are risking. It's almost a game, because it doesn't matter if you win or lose. Many new traders will switch after some decent results over a month or so. I'd recommend 3 months minimum before risking real money, but whatever. Doing what I suggest below is really good advice anyway. Once they switch to a real money account, they find it is a lot harder, and they start taking losses of hundreds or thousands of dollars, and at that point they either blow up, trying to trade it all back, or give up (possibly the right option!). Maybe you have done this already? This is because they are risking their own money. A typical account is $5,000-$10,000, and as I have mentioned many many times, 90% of new traders will lose 90% of their account in the first 90 days. Again, see my profile for a guide to how to avoid this. HERE'S THE REALLY GOOD ADVICE RIGHT HERE: You may have heard of Prop Firms before. One hit the headlines recently and not for the right reasons. PSA: These firms are not generally regulated, BUT read on. This article is not about how to make millions from prop trading. It's about conquering your ability to naturally lose money. Everybody is literally PROGRAMMED to lose. They have to deprogram themselves, and using a prop firm is the best way to do this. Instead of putting $10,000 into a trading account and risking $100 at a time (a reasonably sensible course of action), only to find that after a month you are down $500-$1,000, and starting to worry that trading is not for you, pay $160 for a $10,000 prop account. Let me explain how this works. I will use an anonymous (but real) example. Shop around to see what suits you. They give you a demo account with $10,000 in it. You have to make 10% ($1,000) to pass the first test, and your time is unlimited. If you lose $1,000 overall or lose $500 in one day, you lose your $160 and have to buy a new one. If you pass, you have a second test where you have to make 5% ($500). The rules for losing are the same. If you pass both tests you get a new $10,000 account and your $160 back. You then trade the new account, but they will pay you 80% of your profits. You have the same rules for losing, at which point your account is closed. Q: WHY IS THIS USEFUL TO YOUR BEGINNER JOURNEY? A: Because you are only risking $160. This sits in between a dummy account and a real one. It means something , but you can retain the ESSENTIAL mood of detachment that you need to carry on treating it as a game. If you are trading a real account, you could lose $500 in 5 trades at some stage (statistics say it is inevitable over time), and that is something a professional can shrug off, because they have confidence and they know it's part of the game, but you can't when you are starting out. You need to build your confidence, and this is the best way to do that. Losing $500 in 5 trades is OK with the prop account, as long as you don't do it one day! Your $160 will last a while, even if you are having a bad time. In that time, you will learn a LOT. If you lose, it's only another $160 to try again with all the knowledge you have learned. If you win, you are trading with free money as you have your $160 refunded. Don't go mad. If you like this, please take the trouble to hit the like button.
COINBASE:BTCUSDEducation
by Paul_Varcoe
7
USDCAD POTTENTIAL SETUPS FOR THE WEEK.1. Identify the Current Trend: Begin by assessing the current trend of the USDCAD pair. Is it in an uptrend or a downtrend? Trends can be identified by drawing trend lines or using technical indicators as observed our current trend is shifting to the bearish setups 2. Spot the Change of Character: To anticipate a potential change in character, you should look for signs of exhaustion or reversal in the existing trend. When we have Brocken the lower high of the previous run 3. Wait for Deeper Retest: After identifying potential signs of a change in character, it's important to be patient and wait for confirmation. This often involves waiting for a deeper retest of key support or resistance levels. A deeper retest means that price retraces further into the prior trend, offering a clearer confirmation signal. 4. Confirmation of New Trend: To confirm the change of trend, look for the following: Breakout: Once the retest is complete, watch for a breakout above a significant resistance level (if anticipating a reversal from a downtrend). The breakout should ideally be accompanied by increased trading volume. 5 Higher Highs and Higher Lows: Observe if the price starts forming higher highs and higher lows. This pattern is characteristic of an uptrend and indicates a potential change in character. 6. Monitoring and Adaptation: Keep a close eye on the market once you've entered a trade. Continuously monitor price action and adjust your strategy as needed based on emerging developments.
Short
by DIGITALASSETSINC
1
EUR/USD SELLHey Guys, This is a counter trend trade!! I'm currently selling EU after that huge bullish run we just had. We've just seen price break beneath a strong area of support now acting as resistance, since London open we've had some strong bearish momentum step into the market, but I am only selling this pair to around the 1.0000 zone as this is where price is likely to reject and continue to the upside. I will drop another analysis on this pair at 1.0000 where I anticipate price to go back up to the 1.01500 zone.
Short
by TomBray1
Prop-firm Challenges (FTMO) Risk ManagementProp-firms tell us to come trade for them so that they can take trades off our ideas. In reality they make their money on relying on the fact that 95% of traders are unprofitable and will fail either the challenge or verification stages of their trading. People fail because either they do not have a real edge on the market, they cannot control their emotions, or some combination of the two. If you only have a 10% total loss before you lose the account, why are you risking 1% per trade? why are you risking 1% with only 2% left? The short answer is because you cannot manage risk. And if you cannot manage risk you with either fail immediately, or fail in time. This is a risk profile guide for attempts at FTMO or any other prop firm. The basic premise is to begin at 1% and raise it while in profit, and lower it while in loss. A new theoretical 0 point can be established even within profit in order to protect your gains. You must understand that no single trade is that important. If you are hoping for a trade to change your life you are going about this the wrong way. What is important is compounding profitable trades that outweigh the losers.
Education
by akhena10fx