Mindset
The psycology of understanding patterns
The human mind is made to create context if there is an information we need to get the full picture. An example of how your brain is creating information in order for you to understand the context could by reading this text:
"I cdnuolt blveiee taht I cluod aulaclty unesdnatnrd waht I was rdgnieg! The phaonmneal pweor of the hmuan mnid aoccdrnig to a rscheearch at Cmabrigde Uinervtisy, it deosn't mattaer in whaht oredr the ltteers in a wrod are, the olny iprmoatnt tihng is taht the frist and lsat ltteer be in the rghit pclae. The rset can be a taotl mses and you can sitll raed it wouthit a porbelm."
This is actually very usefull when analysing the marked. If you don't know the context you can try and look back on how the share was evolving before and use that knowledge to predict the outcome even if you dont have the full information. So by triggering your brain to understand the context will help you find the outcome.
Let me know what you think about this^
How to Construct Your Trading Plan 2.0 Hi everyone:
Today let's go over a trading plan in more detail. I have made an educational video on this before, and many have asked me to create a more in depth breakdown on this topic.
So let's take a look at what topics to include in a trading plan.
First, what you should understand is there are no set guidelines of what exactly you should include in your trading plan.
Most traders will have different approaches on this topic, and some will have similar ways of constructing it.
What is important is this is something you will look at on a regular basis.
You will add, remove, edit your plan so it is the most up to date with the information you want to include in.
You should NOT however, just copy someone else’s trading plan, since it won't be applicable to you.
Below I have outlined the 6 main topics that I include in my trading plan, and I will go over each topic in more detail on what can be included in.
Personal Goals, Emotion/Mindset, Changes
Trading Checklist
Trading Quotes to reflect on
Trading Past experiences, mistakes, and lesson
Trade Enter Criteria
Trade Management
If you have any questions, feel free to let me know :)
Thank you
ATOM/USDTHi
atom/usdt 4h time frame looks beary
but we should see that the resistance is broken or its a fakeout
it gets effected by bitcoin and anything could happen
good day
3 Stages of Trading 🚨Every trader goes through these stages.
I remember starting out on demo thinking this would be the easiest way to make money quickly.
Oh, how I was wrong.
It seems like sunshine and rainbows on a demo account but when you move onto a live account, the real problems begin.
Your expectations of quick money quickly vanish due to the psychological aspects of trading.
This usually results in big losses.
Excitement is followed by pain, this is where most traders quit.
If you make it past the pain and develop, you will reach your trading goals.
Do these stages seem similar to your trading? 💬
3 Mindset Tips for Elite TradingHappy Sunday Traders!
In todays video we go over 3 mindset tips for elite day trading!
Watch the short video below to understand this better, but here they are anyway:
BE OPEN MINDED
Let the market be your guide (price action)
Wait until you feel the market (day trading)
Be just as ready to buy, as you are to sell
CONTROLED AGGRESSION
Know what an A+ setup is, then develop the confidence to act big and fast
Have a plan, both for the best entries and the failed trades
EVERY TRADE IS ABOUT DEVELOPMENT
How good/great of a trader could you become by next month if you learn from every trade you take this January?
900 PIP MOVE ON EURUSD ??! No much explanation here ...
However you trade, remember to always KEEP IT SIMPLE.
Looking to go in at 1.1370 (prime entry) with a 30 pip stoploss.
_________
Moving stoploss to break even should price go to 1.1595
Manually exiting position should price close below 1.1375
Trade safe. 🥂
Keep it simple.✅
POSSIBLE CRAZY FALL ON USDJPY ??!All through 2021, we've seen price rise steadily on USDJPY.
Right now, price is approaching a monthly resistance, from which a huge reaction could occur that could take price to 102.00
There's also a shark harmonic pattern in formation.
When the time is "right", we'll be looking to capitalize on this move with a 30 pip stoploss (max.)
Trade safe🥂
Keep it simple ✅
3 things no one wants to accept (Discipline development)Hey all! Happy Sunday.
I did this video already but it failed to upload so here it is again.
In this video I focus on helping traders create discipline in their trading, discipline is a vital component for success, so I really hope this video helps you guys find it in your trading and life!
Good luck with the new trading week!
If BTC were in a real bear market...This chat shows what I am tracking in the case that Bitcoin breaks down from here, on a longer term time frame (red arrows), and enters a real bear market (not just a correction, which I think we could potentially be seeing at the moment). As I have learned from being in this market since early 2016, if you think Bitcoin can drop X amount and hit a "bottom"... double that amount, it will drop way more than you think. If you think it can go up X amount, double that amount, it will go up way more than you think. And at the same time, if someone has a wild prediction like "Bitcoin will hit $196,000 by September 12th at 4:30pm"... that is complete nonsense, but of course it could happen!
Fact is, nobody can predict the future. ESPECIALLY those who say "Bitcoin NEEDS to go up because X"... Bitcoin does not NEED to do ANYTHING they say. The market will do what the market does and you can only prepare for the best outcome.
But the main idea here is, you will never 100% know when those rallies or those dumps will start, and you will never 100% know when each top or bottom is reached. There is only so much technical technical analysis that can be done. Only so many predictions that can be made. What it really comes down to is, time in the market beats timing the market.
I'm a buy and hold type of investor, for all stocks, cryptocurrencies, and real estate. Technical analysis "chart art" is simply a fun hobby for me, and it's entertaining to see the "guru" predictions and ultra technical colorful lines people draw, wave counts, spirals, pictures, etc... whatever you call it... I believe in strategies that absolutely work. And it's up to you to find what works for you. For me, that's buy and hold, for the long term.
Wishing you all the best of luck in 2022!
- HDLR
POSSIBLE 400 PIPSStructure has been broken on the 4H timeframe.
Prime Entry ... 0.6235
30 Pips Stoploss
Target ... 0.6630
Risk : Reward
1 : 13
Move stoploss to breakeven around 0.6355 (i.e 38.2 level of the CD Leg of the harmonic pattern)
Manually exit position if price closes below 0.6235 ON THE 4H TIMEFRAME
Visualization and Trading Manifestation 💆♂️Visualization
Why is it important?
You may have noticed that whatever you choose is always manifested. What you choose is what you get. Whatever you choose to believe in gets reflected in your worldview.
So why are you not choosing to be a successful trader?
Thoughts not only provide the motivation for human action, they also have a direct influence on our reality.
Thought energy transforms into physical reality.
Thinking positively going into a trade and thinking positively in general as a trader is a sure path to success.
Do you practice positivity and visualization when trading? 💆♂️
Buys on EURGBPHere's how I'm going to approach this setup ...
Entry price - 0.8390
25 Pips Stoploss
Risk : Reward
1:6
If price closes below 0.8390 on the 4H timeframe, exit manually.
Move stoploss to breakeven around 0.8440
Trade Safe 🥂
AUDNZD SHORTSCould be looking for a potential entry at 1.0625 with a 25 pip stoploss.
Manually exiting my position if price closes on the 4H timeframe above 1.0633
Look to move your stoploss to breakeven once price reaches 1.0520
Trade Safe 🥂
Treat trading like a business or you might not succeedHello everyone:
Today I will go over 6 main points on why you should treat trading like a business in order to succeed in this industry.
1. Business will have busy seasons and slow seasons. But overhead expenses will remain the same. So not every month can be profitable, same with trading.
-Some months you can have more wins, some months you will have more losses. It's what you do on average for the whole quarter/year.
2. Record your win/lose trades like any businesses that has bookkeeping to record their revenue and expenses
-This is for you to keep track of your progress, results and find areas to improve. You must record your profits/losses so you can identify your result.
Refusing to do so is like a business that does not record their expenses and wondering why they spend so much $
3. In trading, YOU are the Owner/Director/CEO. If you are not putting in the time and effort like a top executive of a business, then it's unlikely you will succeed.
-Top executives don't just work 8 hours a day, 5 days a week. They put in way more hours than that to keep the business running, operational, and profitable.
4. No business starts out as profitable, they are likely to be in the “red” until years later when they can recover the losses and then some.
-Most businesses start up with debts, borrow money and loans. Don't expect to pay off all those in one year.
In trading you will likely incur losses in the beginning of your trading journey. Understand its a process all must go through in order to come up to the top.
5. Each and every year, businesses review their entire operation. Identify the mistakes they make, find solutions to their problems, create plans, visions and goals.
-Identify your mistakes by journaling your trades. Find areas to improve, whether that is your entry, SL/TP, Risk management, trading psychology, mindset/emotion.
Acknowledge your mistakes, drop your ego, work on overcoming your mistakes.
6. 90% of small businesses fail within 3 years, acknowledge the odds are not in your favour, but continue to put in time and effort. NEVER GIVE UP
-90-95% traders fail in time. You don't often hear about the traders who lose, but you often hear about the social media “guru” and scammers doing so well.
Trading is not a get rich quick scheme, nor is it easy. You have to continue to put in time and effort to succeed.
IT doesn't come instant, and those who can not commit to such, will not be able to continue trading consistently and sustainably.
Most important is, if you fail, get right back up. NEVER GIVE UP in trading, and NEVER GIVE UP in life.
Any questions, comments and feedback welcome to let me know.
If you like more of these contents, like, subscribe/follow and comment for me to keep doing them. :)
Jojo
Winning is easy. What matters is what you do when you loseHey traders!
In this video we go over mindset and what matters more than winning in trading, it is how you deal with losers!
We hope this video helps you form an edge in your trading and help give you growth and development, something every trader should seek!
Good luck trading!
SELL EURUSD!!I will be placing my bets on sells, i think it has taken the short term high on the daily, now its created its high of the week and now we will be pushing down. lets see how the week ends.
EURUSD - speech will take the liquidity and a bullish move?We have powells speech at 2.45pm, i am waiting for a sweep then looking to get into buys up to the 1 hour supply.
Insanity... the thing most traders do (intro)This is a short intro to a major problem traders face... in a longer video, coming out tomorrow most likely, I will explain more on how to stop being an "insane" trader and take control of your trading results by working on the most important person in (your) "room", which is YOU!
Just how important are YOU to yourself? take any picture where you are with the people you love the most and look at it, the person you will first search in the picture is you... so I rest my case.
Anyway, this video might wake you up a little, if it doesn't the full version will!
The 2 Types of Trading Mindsets!Hello Traders!
Here I have identified the 2 different mindsets you can having when trading forex, crypto, indices and stocks.
These are the challenges I have had to face in my trading career to become as profitable as I am today! The main reasons for failing to make profit while trading is because of the 99% mindset most people have. Many reasons for failing to take good trades are due to the impatience and the lack of discipline within yourself.
One key issue I have learned over my trading career is a trading plan in critical! Failure to prepare = Preparing to fail.
With a solid trading plan you will never feel emotional or lack of confidence when taking a trade as you will have strict rules you always follow. Removing this emotional fear of loosing money or failing to reach you take profit will help you out win the long term as you never feel that pressure and is one of the biggest reasons a trader fails to trade and sustain consistent profit.
The 1% mindset is the prime mindset you want to have and sustain while trading. Manging you mind and following strict rules is how people become millionaires from trading. Rather than being reactive to the market conditions be proactive and be prepared for any scenario!
Thanks for taking the time to expand your knowledge!
Check out my other ideas below!
Daily Primer: Break your limits 💥In todays daily primer we talk about limitations and cause and effect. This short 5 minute video will give you the necessary guidance as to what you need to focus on to achieve the success you seek in the markets.
Success in trading, just like in any other business, is a
cause and effect relationship:
Poor or average causes = poor or average results
good causes = good results
excellent causes = excellent results
If you want to achieve success, do the work!
(metal: have patience, discipline, resilience)
(work ethic: prepare your charts, know the news, prepare your plan)
Bullish Mondays!Hello traders! I hope you had an excellent weekend and learnt as much as you could from the week priors pa.
Todays PA is clearly bullish on the 1hr and the 4hr, so longs will be targeted.
The daily is still in a sell range and we have moved up within the possible mitigation of the recent PA however we aren't over the premium of the move.
To the left we can see the circled PA in yellow, which will need to be filled at some point, this fits with a long bias into the shorting area.
Although we have both a 1hr and 4hr buying range I will remain Neutral and trade the PA as I see it at the time, this could lead to shorting opportunities should they develop
🤫 You don't need much to succeed in tradingAll you need is...
> Good habits, both mental and technical
> (relentless) hard work
> Consistency in process
> 100% focus when trading
