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USD/CAD - Study purpose only**IT IS NOT INVESTMENT ADVICE** Hi guys, It's just a publication for studies of my trade system that I am testing. My projection is a up trend on usd/cad because he does a up trend in short term and struture in long term. I'm looking to buy this pair until it breaks the higher high and higher low in the short term trend (Up trend). I am posting it here just to study my perspective over time and it is not a investment advice. No one can make money by taking ideas here from tradingview because entry is just a part of making consistent money. We need to know what we are doing, manage the trade/risk and be strong with psychology. Just look at this idea to see what happens and why I did it. Don't invest by taking someone else's idea because you don't become an investor by doing that!
Long
by Forex-Lucas
Lets talk prop firms❗Its the buzz words and hot topic of the moment! PROP FIRMS Before I start on this topic I want confirm I am a funded trader. This post isn't to promote this style of trading or prop firms. I am writing this post for those who may not understand what a prop firm is and to share my own experiences on the route to being a funded trader. What is a prop firm? Proprietary trading is where a firm trades for its own financial gain instead of earning commissions for clients. What is a prop trader? A prop trader is someone who uses that firms money to trade with and in exchange receives a wage or a percentage of the profits. Now those two statements above probably ring more true for those who work for financial institutes on trading floors all around the world. The propriety trading firms I want to talk about are the retail prop firms that usually for a subscription or a challenge fee will allow you as a trader to trade funds provided by them. Any profits you make on that account you as the trader will receive a share of the profits. Usually 70-80%. The business model has drawn a lot attention some good and some bad. So this seems a good starting point to discuss what we know of the business model. To become a funded trader with these companies you must either pay a subscription or take a challenge. You rules and conditions of which you have to abide by in order to gain and keep funded accounts. Subscriptions model This route to prop funding tends to be a monthly reoccurring payment. You are then given an account to trade with stipulations attached. For the subscription model the rules on the account tend to be very tight/strict and the fee can be quiet hefty. Challenge model This route to funding is where the trader pays an entry fee in to a challenge to prove their trading credentials. The trade will be set targets to meet over one or two phases in order to secure funding. The account will have rules and stipulations applied for example 10% overall draw down. If funding is secured then most companies refund the entry fee and you then as a funded trader earns money of any profits made on your funded account. So that's the options to becoming a funded trader. The retail prop firm business model has been criticised because some of these funded accounts are demo accounts once gained. Some say these companies only make money off failures and that's why even their funded traders who have passed are only ever trading demo accounts. Some prop firms on completion of challenges give you real accounts. But do we truly know they are real or does it just say real? A prop firm most definitely makes money from failed challenge attempts as part of it's business model. No one will ever know for real if they copy trade their top funded traders either. But in my opinion they would be daft not to copy trade consistent performers that take payouts of these firms every month because they exists. Prop trading pros and cons. Their is pro and cons to any choice in life and prop trading is no exception. I'll cover my personal pro and cons to the prop world below. PROS -For traders who are consistent and proven but only have small capital available, Prop trading is a good route to potentially larger trading pots. -Most prop firms have scaling plans -Prop firm gives trader the opportunity to funding most would never of got if they didn't exists. Most would never get an the opportunity to trade for a big institute. Prop firms bridge that gap. -Given the amount of firms popping up a consistent trader could soon find themselves with a diverse portfolio of accounts giving some life changing chances and monthly profit opportunity. -Most prop firms have favourable commissions and spreads with some having no commissions what so ever. -Reduced personal risk . Worse case scenario for a funded trader is losing the account rather than massive personal losses. CONS -Even when funded you have to adhere to rules and terms of the prop firm -You could spend big money getting traded -The health of the prop firm you trade for is unknown and one prop firm has already dis-appeared. -In reality the targets set are gain the funded account is quiet high at 8-10% in 30 calendar days. -Violation of rules ends in account loss. Summary I can only speak of the journey I have taken myself. For me the pros out weighed the cons when it came to seeking funding via these prop firms and the opportunities they offer. I personally don't mind paying a fee to enter challenges as you need some emotional attachment to the challenge in order for you to play your best trading game. If these were free to enter then everyone would just go big and all out to get funded then would do exact same if managing to get funded. That would be sustainable for no one. That's not what trading is about it's about risk management and emotional control which helps lead to consistent trading results. For a 100k challenge most prop firms charge between £400-£500 that is still a fair amount of money for anyone and you should be treating it as a serious venture if your not then you are simply gambling. Funded accounts being a demo account hasn't bothered me. I get paid when I'm in profit and that's all that matters. Spreading accounts over different prop firms lowers risk and exposure to losing all your funded accounts. One well known firm has gone and thankfully I wasn't with them but aiming for a few accounts with different firms lowers risk of finding yourself funded one minute then not the next. Are they a scam? In ever growing market place bad apples will be operating in the sector. As traders you have to do own research but plenty have been round for a while now with good reviews to boot. Trading in general is hard and gaining 8-10% in one month to pass then doing 5% the following is no easy feat. Get a game plan and strategy together, back test and forward test the live out of it and when consistency is there only then is it worth attempting funding challenges. Love them or hate them prop firms are here and making some noise. They offer opportunity a plenty but they do come with mystique attached. You as a trader and an individual have to judge if they are for you or not. Simple way I looked at the opportunity 1 Funded 200k account 3% profit per month = $6000 80% profit split= $4800 GBP= £3478 Approx equivalent to 57k GBP a year! Freedom can be closer than you think. Thanks for taking time to read my idea Darren.
Education
by pow_removetheguesswork
The 12 Tasks Of Trading12 tasks of trading which include: 1. Self-analysis to determine if you are in a state of mind to trade Prior to starting your trading day, it is very important to make sure you are in the correct state of mind to trade. You need to analyse yourself and make sure you are at the best state of mind to avoid mistakes in the markets. You cannot finish fighting with a friend, spouse, or colleague and expect to make great analytical decisions. Therefore, the first and most important step, is always making sure your mind is clear and at its best. 2. Mental rehearsal to avoid mistakes The second step includes you rehearsing your set of rules and making sure you are going to strictly stick by them. This will allow you to avoid many mistakes in the markets and in your day. 3. Daily focus to lead you towards your goal It is very important to have goals, but specifically daily goals. You need to determine what your goals are for the day including the pairs you are looking at, the times you will be trading, your risk management, and what you aim at gaining from the markets that day. Once goals are met, it is important to step back and wait until the next day to trade. 4. Developing your own style of a low risk idea. For students of Opes Trading Group, low risk ideas and strategies are all taught to them during the course. It is important for every trader to develop their own ideas and strategies that are low risk in order to always protect their capital. Capital preservation is the most important rule of forex trading. 5. Stalking the charts starting from high to low time frames Looking at the charts from the higher to the lower time frames allows you to be able to see the bigger picture before looking right in. if you started looking from the lower time frames, you could have a wrong picture painted for you as to where the price could be heading. You cannot see the bigger picture if you are standing too close to something, it is the same concept on the charts. 6. Action requiring commitment and not thought Once a trade and an idea has been analized, it is important not to second guess yourself and take the trade. Do not second guess yourself if you believe in yourself and your trades. 7. Monitoring the trade to keep the risk low Always keep your eyes on your trades. Now that doesn’t necessarily mean you need to be glued to your charts, but check them every once in a while, and at important candle closure to make sure they are still playing out the way you expect them to. 8. Aborting is the trade is not going well If a trade does not go as planned (and the reality is some won’t), it is important to cut your losses if the trade is clearly not going to recover. There is no reason to hold on to a losing trade if there is no reason for it to recover. 9. Taking profits when the reason for the trade has ended A take profit is placed for a reason, however sometimes the reasons end before the take profit has been reached, meaning it is very important to close the trade even if it means closing it early. Never become attached to a trade that you chase the take profit only to find yourself back at 0 or even in negative. 10. A daily review to monitor and prevent future mistakes At the end of every day, all the trades taken should be reviewed. This will allow you to see what you are doing right, and what you are doing wrong. This will give you a good indication for what is needed for future trades. 11. Being grateful for what went well Something so many people pay no attention to and ignore is gratefulness. Any positive day in the markets, is a great day! Be grateful for all that goes right, no matter how small the profits might be, because 90% of traders lost that day. 12. A periodic review to make sure everything is still working well Every quarter it is recommended that you review your whole trading system. As the markets change, we need to be able to change and adapt with them, therefore a periodic review will allow you to know if things that are working still are or aren’t.
COINBASE:ETHUSDEducation
by opes_trading_group
4
What To Focus On As A BeginnerFocusing on winning trades is your setback as a beginner Every individual begins their trading journey with the idea that trading is all about winning trades and making money. Soon after their dreams are shattered when they realise it was not as easy as they had thought it would be. Now as we all know, the road to success to many is long and difficult, and that’s exactly what makes them successful. So why should the road to success in trading be any different? Look at top performing athletes, they trained for years before reaching any kind of success that definitely did not occur overnight. This bring me to my main point where many traders could be failing due to focusing on winning trades rather than the process it takes to become a good trader. Every trader beginning their journey needs to understand that trading the financial markets is no different than a top performing athlete. In order to achieve success, one needs to develop their skills over years. Instead of focusing on winning every single trade, one should be focusing on the process and the experience they are gaining over this time. Studying your mistakes, your losses, your psychological weaknesses, your analysis, and your understanding of the charts, are far more important at this stage than focusing on winning trades. Look at your trading journey like a student attending university, a student will learn over years different topics, where some will seem worthless at the time, but will however develop their skills in the necessary fields to succeed in the future. Every beginner should deeply focus on the process. Winning trades are a by-product of a developed successful strategy which also requires a developed individual. The trader needs to be developed in their psychology above all in order to trust their strategy and apply it correctly without deviating from the plan. Take the time to focus on all aspects of your trading, and let the winning trades come as a result of that in the future. Trading is a marathon, not a sprint, always remember that.
COINBASE:BTCUSDEducation
by opes_trading_group
6
RISK : REWARD. Visualized breakdown ⚠️Regardless of whether you prefer day trading or swing trading, you need to understand the fundamental concepts regarding risk. They form the basis of understanding the market, managing trading activities, and investment decisions. Otherwise, you will not be able to protect and increase your balance. We have already discussed risk management, position size, and stop-loss setting. But if you are actively trading, answer two important questions. How does the growth potential relate to potential losses? In other words, what is your risk-reward ratio? In this article, we will discuss how to calculate the risk-to-profit ratio for any transaction. ✅What is the ratio of risk and profit? 🟢The risk-reward ratio (risk/reward or R/R ratio) allows you to understand what risk a trader is taking for the sake of a potential reward. In other words, it shows what the potential profit is for every dollar you risk when investing. 🟢The calculation itself is very simple. The maximum risk is divided by the net target profit. How exactly? First, think about where you want to enter into the transaction. Decide where you will take profit (if the trade is successful) and where to place a stop loss (if it is a losing trade). This is extremely important for effective risk management. Good traders set profit targets and stop-loss before entering a trade. Now you have entry and exit points, that is, you can calculate the ratio of risk and profit. To do this, you need to divide the potential risk by the potential profit. The lower this coefficient is, the more potential profit you will receive per "unit" of risk. Let's figure out how it works. ✅How to calculate the ratio of risk and profit 🟢Let's say you want to open a long position on bitcoin. You perform an analysis and determine that your take profit order will be 15% of the entry price. Next, you have to answer the following question: where your position will be closed in case of a market reversal. This is where you will have to set a stop loss. In this case, you decide that your cancellation point will be 5% of the entry point. It is worth noting that it, as a rule, should not be based on arbitrary percentage numbers. The profit target and stop loss should be determined based on market analysis. Technical analysis indicators are very useful for solving this problem. 🟢So, our profit target is 15%, and the potential loss is 5%. What is the ratio of risk and profit? 5/15 = 1:3 = 0,33. Everything is simple. This means that for each unit of risk we potentially win three times more. In other words, for every dollar we risk, we can get three dollars. Thus, if we have a position worth $100, then we risk losing $5 with a potential profit of 15. 🟢You can also move the stop loss closer to our entry to reduce this ratio. However, the entry and exit points should not be calculated arbitrarily, but solely based on analysis. If a trading position has a high risk-to-profit ratio, it is probably not worth "arguing" with the numbers and hoping for success. In this case, we recommend choosing another position with a good risk-reward ratio. ‼️Please note: positions with different sizes may have the same risk-to-profit ratio. For example, if we have a position worth $10,000, we risk losing $500 for a potential profit of $1,500 (the ratio is still 1:3). The ratio changes only if we change the relative position of our target and stop loss. ❤️ Please, support our work with like & comment! ❤️
BITSTAMP:BTCUSDEducation
by UnitedSignals
7
CANDLESTICK PATTERN TRADING | Engulfing Candle 📚 Hey traders, In this post, we will discuss a classic candlestick pattern formation each trader must know - the engulfing candle. Key properties of this pattern: 🔑 Engulfing candle is a reversal pattern. 🔑 Engulfing candle can be bullish or bearish. ❗️Also, remember that this candle demonstrates the highest accuracy when it is formed on a key level (support or resistance). ⬆️Bullish Engulfing Candle usually forms after a strong bearish impulse. Weakening, the market keeps going lower forming bearish candles. However, at some moment, instead of forming a new bearish candle the market reverses. The price forms a bullish candle that engulfs the range of the previous bearish candle and closes above its opening price. Such a candle we call a bullish engulfing candle. The main feature of this pattern is the fact that its total range (distance from the wick high to wick low) & body range (distance from body open to body close) exceed the ranges of a previous bearish candle. Being formed on a key support level or within a demand zone it signifies a highly probable pullback or even a trend reversal. ⬇️Bearish Engulfing Candle usually forms after a strong bullish move. Reaching an overbought condition, the market keeps going higher forming bullish candles. However, at some moment, instead of forming a new bullish candle the market goes in the opposite direction. The price forms a bearish candle that engulfs the range of the previous bullish candle and closes below its opening price. Such a candle we call a bearish engulfing candle. The main feature of this pattern is the fact that its total range (distance from the wick high to wick low) & body range (distance from body open to body close) exceed the ranges of a previous bullish candle. Being formed on a key resistance level or within a supply zone it signifies a highly probable pullback or even a trend reversal. 📝Engulfing candle can be applied for scalping lower time frames, for intraday trading, or even for swing trading. Personally, I apply this candle on daily/4h time frames as one of the confirmations of the strength of the structure level that I spotted. Do you trade engulfing candle? ❤️Please, support this idea with like and comment!❤️
COINBASE:BTCUSDEducation
by VasilyTrader
11
NZDUSD LongI looked at this setup last night and set an alert. After the Sto RSI bottomed out on the 1H and the price tested the bottom zone I opened a 1:3 RR at 0.67599 with TP at 0.68299 and Stop Loss at 0.67327. I'm trading on a very small account or I would place a partial TP at 0.67936. I'll be watching and move the Stop Loss up to a zero risk trade once it clears 0.67936. I would be surprised yet admit my fault if it falls lower from here. As always, I'm still learning and welcome any and all constructive criticism or advice. If anyone knows any good resources for studying pitchforks I am open to suggestions. Thank you.
Long
by UnknownUnicorn2349278
Trading on Financial Markets | Your Guide to Trade Planning 📝 Hey traders, In this post, we will discuss 6 crucial things in your trade planning and the main elements of trade results assessment. 1 - Before you open a trading position, make sure that you analyzed the chart. You should identify a market trend and spot major key levels. 2 - Once the chart is analyzed, you should identify the safest trading areas for your strategy (preferably the zones of supply and demand). You should patiently wait until one of these zones is tested. 3 - Once the zone is reached, you should look for a confirmation. You can either look for a reversal candlestick/price action pattern, some fundamental trigger, or some indicator. The point is that you should rely on a trigger that is backtested and that proved its accuracy. 4 - Getting your confirmation, you should have a precise entry strategy. Some traders prefer aggressive entries on spot while others are waiting for a retest of some major/minor level. 5 - You must set a stop loss. Remember that your stop-loss defines the point where you become wrong in your predictions. Be extremely careful on that step and give the market some space for fluctuations. 6- Know your exact target level(s). Know the point where you start protection of your position, where you start profit-taking. Be very strict and don't let your greed and fear intervene. Only then a trading position is opened. No matter what will be the end result of your trade, you should assess it: 1 - You should journal the trade outlining its end result, trading instrument, and your entry reason. 2 - Note any peculiar thing about this trade that you noticed. 3 - Record your gain/loss percentage. 4 - Identify whether any mistake was made and if so, learn from that. Here is your minimum plan to follow. Of course, as you mature in trading your trade assessment plan will be more sophisticated. Do not underestimate its importance and treat it as the main element of your trading routine. Do you plan your trades like that? ❤️Please, support this idea with like and comment!❤️
Education
by VasilyTrader
27
Bitcoin. A multi-month correction? #BTCI've been hesitant to try TA on Bitcoin. With the institutional interest growing over the last year I haven't made very many good calls, so this idea is entirely for entertainment purposes. I hope it generates some comments and conversation more than anything. I put a horizontal ray near $41000 after it switched from resistance to support in early January, mid-June, and again in late September. I'm still learning the vast complexities of Elliot Wave Theory but at first glance this is what I think is going on.
COINBASE:BTCUSD
by UnknownUnicorn2349278
1
Beginner's Charting Attempt 1: COSTFirst: Any constructive criticism is very much appreciated and helpful! :) So here I am, an absolute beginner with a couple crayons of knowledge: I just drew in what I observed to be wedges. The first a rising bullish wedge that continued to a bullish trend. That wedge was followed by a falling bearish(?) wedge. I thought a continuation pattern (bearish) was more likely than a reversal (bullish) because of resistance (COST had previously hit that high before and didn't break through). I might've used some of the terminology wrong, honestly. But I'm just trying to journal out my thought process to be able to communicate and work through my own ideas and opinions.
NASDAQ:COSTShort
by bexlua
Never invest hard earned money based on social media influencersThese days there are a lot of social media influencers, to be honest most of them do not know about the Crypto fundamentals and what is the tech behind this and how things work in the long time. For an example, If an influencer says to buy and hold SLP token from Axie Infinity for long term, you need to instantly block them, because they do not even know the different types of token and are just misleading people. In this case, SLP is a utility/commodity token with infinite supply, as the number of players increases, more SLP will be minted hence price will go down, given that this game has no good burn mechanism. Such influnecers will come up with a drawing of new trend lines every day, and say the coin is in downtrends, but these trend lines have no impact on utility/commodity tokens. They depend upon the tokenomics. What I want to say is -- Never trust blindly any Social Media Influencer for your hard earned money! Always have curiosity to learn more and develop a trading system that works for you best. Give this new year a new start!
Education
by amit034
14
Trading And InvestingTrading isn’t the same thing as investing.Investors buys stocks and hold them for a long time - often for a too long riding a stock all the way down and possibly even buying more along the way. Traders, on the other hand, hold stocks for as little as a few minutes or as long as several months, and sometimes possibly even a year or more. The specific amount of time depends the type of trader that you are. Investors Investors want to carefully balance an investment portfolio among growth stocks, value stocks, domestic stocks, and foreign stocks, along with long‐, short‐, and intermediate‐term bonds. A well‐balanced portfolio generally offers the investor a steady return of between 5 percent and 12 percent, depending on the type of investments and amount of risk he or she is willing to take. Trader As a trader, you look for the best position for your money and then set a goal of exceeding what an investor can otherwise expect from an aggressive portfolio. During certain times within the market cycle, your best option may be to sit on the sidelines and not even be active in the market.
by NewYeezus
Technical analysis Question (BTC/USDT)G'day peoples, I have recently been learning about technical analysis and am wondering what some more experienced people think of my current analysis of the chart and my prediction. What I'm seeing on the charts is the likelihood for BTC to grow about 3 percent in the next day or two shadowing what it did on the 21st to 22nd of dec from 20.00 to 4.00 on the hourly timeframe. Would I be on point in this prediction? For more experienced traders: Where would the entry point be? Thanks everyone who is able to give me some advice on this. :)
Long
by lochiejy