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Mindset

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? 💆‍♂️
Education
by AlkalineFX
24
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
Editors' picks
OANDA:XAUUSDEducation
by jojofang0901
309
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!
OANDA:US30USDEducation
by PrimedGroup
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!
OANDA:XAUUSDEducation
by Pips-Collector
2
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)
DEducation
by PrimedGroup
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
by EnvisionEJ
NZD/JPY and CAD/JPY on watch for me today.Hi guys and girls. So I got involved in a long trade last night on CAD/JPY at just after 7:00 PM BST on the break of a tight fifteen minute flag which I posted a screenshot of just a moment ago, but I was then once again wicked out almost to the tick (never mind the pip) as the Asian Session opened. Unfortunately market manipulation as I've touched on before has been rife across the market as of late, regardless of how much regulation brokers are subjected to and particularly where the clear and obvious setups such as the ones which I look for are concerned because brokers obviously know where your stop loss is likely to be. But try and look for setups which aren't clear and obvious and I can assure from experience that your results will be far worse. So that's yet another loss for me, but I'm still massively in profit for the year and overall, at least by enough to justify the fact that trading is partly how I make my living. The amount I risked on this trade is the most I've ever risked on a trade where live trading is concerned, so the amount that I lost on this trade is therefore obviously the most I've ever lost on a trade too. But because I'm experienced and I've primed my psychology to deal with market manipulation and losses it has zero effect on my psychology whatsoever. If it did then I likely wouldn't have CAD/JPY on watch again which would mean that I would potentially be missing out on another glorious investment opportunity and that's why I tirelessly stress the importance of scaling your mindset before you try scaling your account. All we can do as traders is keep rolling the dice and we have an edge over the market as I do then over a large enough sample size of trades our edge will play out. NZD/JPY: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. CAD/JPY: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Long
by StewySongs
1
NZD/JPY and CAD/JPY on watch for me today.Hi guys and girls. So I got involved in a long trade last night on CAD/JPY at just after 7:00 PM BST on the break of a tight fifteen minute flag which I posted a screenshot of just a moment ago, but I was then once again wicked out almost to the tick (never mind the pip) as the Asian Session opened. Unfortunately market manipulation as I've touched on before has been rife across the market as of late, regardless of how much regulation brokers are subjected to and particularly where the clear and obvious setups such as the ones which I look for are concerned because brokers obviously know where your stop loss is likely to be. But try and look for setups which aren't clear and obvious and I can assure from experience that your results will be far worse. So that's yet another loss for me, but I'm still massively in profit for the year and overall, at least by enough to justify the fact that trading is partly how I make my living. The amount I risked on this trade is the most I've ever risked on a trade where live trading is concerned, so the amount that I lost on this trade is therefore obviously the most I've ever lost on a trade too. But because I'm experienced and I've primed my psychology to deal with market manipulation and losses it has zero effect on my psychology whatsoever. If it did then I likely wouldn't have CAD/JPY on watch again which would mean that I would potentially be missing out on another glorious investment opportunity and that's why I tirelessly stress the importance of scaling your mindset before you try scaling your account. All we can do as traders is keep rolling the dice and we have an edge over the market as I do then over a large enough sample size of trades our edge will play out. NZD/JPY: • If price corrects and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair. CAD/JPY: • If price impulses up, it does so in a convincing manner and a tight one hour flag forms, then I'll be looking to get long with a reduced risk entry on the break of the flag. • If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place a trade on this pair.
Long
by StewySongs
Trading PsychologyIn order to make it on green in the trading area, you need a lot of skills or a mind "all over the place". You will need to analyze a lot of data like profit, earnings, market share, and competition in order to see how the stock will go. Numbers are an important part of the game. However, an even bigger part of the game is the "emotional" part, or how you handle difficult and good times. We can call this part: what is your "mindset" when it comes to trading? Emotions can be negative - FUD or positive - greed What is FUD? FUD is short for fear, uncertainty, and doubt. Who likes bad news? I guess nobody, but still, we have bad news everywhere. It's normal to be scared when you see a bad report/a "bad news". However, what is "normal" on paper might feel very strong for some and that can lead to irrational moves like liquidating all just to feel safe having cash. This overreaction can be: 1. Good - in the sense you avoided more losses. 2. Bad - true you might avoid some losses, but markets tend to recover. That means you sit on cash so you lose the gains made by the same recovering stocks that you liquidated in red. I'm talking at points 1 and 2 about "uncertainty". Nobody knows how the stock market will go. Sure we have a lot of tools but in the end, all they do is to give us estimates: might go up or might go up. So what do you do? It's obvious why people "doubt" what they should do. The information is not clear and furthermore the information changes rapidly. It's not: - OK the market is going up, so I will buy the market and make money. No. Nope. It's more like: now it's going down, now up, but overall down, but now up, what a spike up, but happened too fast in order to take advantage of it ... what shall I do (considering that I already lost some money - that only adds more pressure to the situation)? To put it short: If training would be easy, everyone would be rich! So what can you do to prevent this? First, you should know that all these emotions are normal reactions of the mind. Furthermore: you probably already lived these emotions in your life so this is not something special (only) for the trading area. For example, fear is a natural reaction to a perceived threat. A trader might feel fear not only because he might lose the profit made, but also cause he can lose his invested capital! If you have a lot of info the uncertainty will vanish. Ok, not vanish, but knowing what you are dealing with will lead to a better judgment of the situation so therefore better decisions. All you have to do is DYOR (do your own research) meaning: have information. Why should you doubt when you have a plan? In some tight situations, you can doubt your plan, but the plan is what might save you from doing dumb stupid moves. For example, a good plan in the stock market will include lines like: it is important to know that the markets are going to go up and down. No, of course you won't like it when the market will go down, but at least you will know that this is normal and you will probably also know what to do in such situations. By planning ahead (what can/will happen?) a trader can be prepared for different events that might occur in the market. These plans will make the trader "skip" the emotional part and focus more on what he should do in the situation he is facing. Note: I must tell you this is easy only on paper and much harder when being in that situation. However, with patience, perseverance, and taking into consideration your past moves, trading events will become much easier. What is greed? Greed is an uncontrolled longing for an increase in the acquisition or use of material gain or social value. To put it simply: people don't know when to stop. Who remembers the hot stocks from '80? A reason for not knowing those stocks: most of them and I mean more than 95% are not on the market anymore! Sooner or later any company will have its downfall. Now it doesn't have to be bankruptcy or lose all your money type of situation, but it can cause you to lose from 50 up to 90% of the money invested with that firm. The problem is that greed comes in a masked form and that is why only a few see it. Greed is based on the feeling to do better or to have more. So are you trading based on greed OR you are just doing your plans to do better? It's every trader's job to answer this question as there is no general predefined answer. Discipline beats luck! Repetition can become boring so adding $$$ each day to make "that million $" is out of the question for most people. Because let's face it: Everyone wants to be rich fast. BUT: Investing is not a get-rich-quick scheme! Can you see the conflict between the ideas? That is why you need a plan that should contain a line called: Resolving my emotional conflicts. To improve your trading psychology you should answer questions like this: What risk am I willing to take? What should I invest in? Should I be a day trader? Or a long-term investor? Or between them? Or all at once? When do I enter a trade? When do I exit? After EPS, the launch of a product, after naming a new CEO? Should I place an order, stop loss, or take profit? Do I use leverage? Answering these questions might be time-consuming (can take even weeks), but it's very important to know them. To put it short: it's important to know what you are doing and why. Knowledge can overcome emotions especially fear. For example, you will probably sell your stock if you would know that a company will fall the next day. But how would you know that if don't research? Reading the news, looking at charts, analyzing competitions, talking to other traders, learning and testing new strategies are actions that need to be done every day. At least 5 days out of 7. Results The purpose of handling your emotions or taking advantage of what they are communicating is to have results. No one will pay for how much effort you do! People pay for results. But emotions change depending on your strategy or what you want. It's not the same emotion when you invest $100 or $10.000. Although they might seem similar (the emotion caused by investing money) they are not. There are 2 different emotions for each case that require 2 different strategies. You got to be flexible and know that handling your mindset is a daily set of tasks. The more you go in-depth about what you are going to do, the more you increase your chances to become successful each day. Lose aversion An example of how emotions lead a crucial role in the trading strategy is related to lose aversion. This happens because most of the trades haven't lost money anywhere! Sure if you lose a $10 bill on the street you lost your money! But: 1. How often do you lose money on the street? 1 time in 5 or even 10 years? 2. It's only $10. You will survive without them. The rest is only depreciation (not losing money). After 5 years a car will lose its value. But in these 5 years you used the car, you went to work or on holiday. So for the money "lost" in the depreciation process, you got something in return. When you invest in a company, what do you get when you lose 20% of the invested value after only 20 minutes? And what people don't realize: ANY trade will start on red, due to the commission/spread paid to the broker. So before you make money, first you lose money! That is mindboggling and in most cases, due to "loss aversion" or the lack of experience in losing money, most beginners (but even experienced traders) will start doing unexplainable moves (most of them dictated by the emotions they feel). Conclusions: Mastering your emotions is a skill that will lead you to success in trading. However, it takes a lot of dedication, patience, and work to get to a level where you can handle your emotions and still make the right moves. But it is worth it! Your bank statement will be proof that your work was worth it!
BYBIT:BTCUSD.PEducation
by AngelAlgo
1
Dealing with "failure" in your trading 😎Failure in trading is frequent, yet for some it is permanent and for the few it is temporary, the choice is always yours! In this video we go over our advice on how you should deal with failure so you can keep it as a learning experience and grow and develop as a trader! If you're having challenges in your trading and cant seem to find solutions to them just send us a DM and we'll do our outmost to help you overcome them and find solutions to your "trading problems' :) Have a great day!
DEducation
by PrimedGroup
1
How to manage & deal with consecutive losses in trading ? Trading Psychology: How to manage & deal with losses/consecutive losses in trading ? Hi everyone: Today I want to go over a very key trading psychology lesson on how to deal with losses, especially consecutive losses. This is bound to happen to any traders, whether you are new or experienced. ITs something all professional traders will have to deal with on a regular basis. Understand that, dealing with losses psychologically is the key factor in the success of a trader. This is because losses are inevitable, and trading is a probability, which trades that you take will end up both in wins and losses. However, traders usually can not accept losses, due to their ego, greed and other emotional factors. Aside from having a good risk management, trading plan, and trading strategies, traders can still experience the psychological emotions of losing. This is due to the fact that we are humans and we are an “emotional” animal. We don't want to be wrong, at all. Taking a loss is like getting slapped in the face by the market, which we have egos to fight against. What ends up after taking losses or consecutive losses, it puts traders at a disadvantage where their emotion is high, and likely to “revenage” trade to chase back losses, which end up in a deeper hole. To deal with such psychological phenomena, take a step back and observe your situation: First, did you follow your trading plan/strategy on how to enter, set SL/TP, and management ? Second, did you take an emotional trade due to greed or fear of missing out ? Third, have you journal down your losses and review them to make sure they are trades you really want to risk your capitals on ? By now you will see why we need to review these. Trading is a probability, not right or wrong. It's a random variable that you are putting your $ at risk. So if you understand the rules and plans that you follow and execute a trade accordingly, then there should NOT be any negative emotions towards the outcome of the trades, whether they are winners or losers. When I discuss the trades I entered every week in my trade recaps videos, I am always happy to enter a position, even if it goes to a loss. This is because I have done enough backtesting, chart work, and plan to enter a position. I understand strictly from a probability point of view, I could have a higher strike rate, and more often the trades will end up as a winner rather than a loser. However, I also understand and acknowledge that some trades will end up in a loss, disregard mine technical analysis or other’s fundamental analysis. It is what trading is all about. When I have consecutive losses, I will always review the 3 points I mentioned above and make sure they are all valid for me. Then I simply will take 1 day off from the market, chart, phone, and just get your mind clear. Come back strong after 1-2 days of rest, and have a positive mindset. What traders often do when they have consecutive losses is to right away re-enter back into the market and try to chase back their losses. This has always been the downfall of losing and it creates anxiety in traders’ minds. Such a negative experience is going to stay in the traders’ mind longer and deeper, compared to consecutive winners. So wise we understand that is the case how our brain is "programmed” into thinking, then it's up to us to do the opposite, and fight the urge to “revenge” our losses. At the end of the day, no one is trading your trading account, except yourself. Taking ownership of your account, learning to control our emotions, understanding the probability side of trading, and learning to let go, drop our ego will help us in the long run in this industry. I hope these pointers can help some traders who are still struggling with this concept. It's impossible not to take losses, but professional traders deal with it on a regular basis and still remain consistent in the long run. Thank you I will forward some Trading Psychology educational videos below on some of the topics explained today. Trading Psychology: Revenge Trading Trading Psychology: Fear Of Missing Out Trading Psychology: Over Leveraged Trading Trading Psychology: Is there Stop Loss Hunting in Trading ? How to deal with it ?
Editors' picks
BITSTAMP:BTCUSDEducation
by jojofang0901
58
Your OWN EXPECTATIONS are the BIGGEST thing HOLDING YOU BACK! 🤷HOW you can get control of your emotions when trading So if trading is stressful or a rollercoaster, you're not alone. 🎢 BUT, its quite a simple fix really.🤔 You're pushing things a little too hard. Chasing an expectation that in return is causing you stress. 😢 Thing is, its actually pushing you further away from your long term goals too. Long term hopes and dreams, short term thinking, greed and poor decision making. A fear over your running trades constantly watching them on screen. You aren't listening or paying attention to what is going on around you.📱 It can be different though.... Think about it..🤔 If you had a £10,000 account and traded 0.01 on 1 or 2 pairs - would you be stressed? 🧘‍♂️ No. Thought not.😅 The fear would be gone, you wouldn't be bothered - why? Because your risk is F all. The other upside is you would be fine letting your winners run too.💪🏻 So, instead of chasing money - focus on how you want to feel and work back from it.😳 If you have a £500 account - what risk are you truly comfortable with at any one time? What losing run could you experience based on your strategy win rate his could you factor this in too. If you traded 1 pair at 0.01 I am confident you would feel ok; but trading 0.1/0.2 etc on a few pairs and you won't be. So, what am I saying? Strip it back, get comfortable - no one likes to feel stressed and worried over their trades BUT in return you will need to realign your expectations to the long game. 🤝 Think - 2-5 years.🤔 Not how much you can make in a day/week.... you simply won't survive.👍🏻
Education
by pow_removetheguesswork
2