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Personality

Stock PersonalityIt is super important to make a NOTE of what the personality of the stock looks like. You should choose a stock with a smooth personality. Avoid stocks with schizophrenic noisy personalities. There is someone who wants to get in or get out. This someone has a plan and trades the stock according to his plan. This someone doesn't change his plan every day, since this will be time and effort-consuming and confusing even to himself. People want to be consistent. So if this someone decides I will make my life easy and sell sell sell and buy buy buy which makes the stock looks smooth. This is someone you will have a much better trading experience with. THE GOAL: is to search where you can make your money easily - egoless. Follow to tune in to more of this material.
NASDAQ:BDTXEducation
by ZoharCho
2
WARNING! This will reflect on your tradingThe world thrives on drama, gossip and most people just want it to end by the way they think... I can't blame them because most people are struggling to live their lives where they are working from pay check to pay check. Where they are hoping their boss will give them a half day off. Where they are constantly feeding the fat cats of the world and paying taxes from their salaries. But then trading comes along, where you can have some degree of control of your finances and investments. Where you can risk what you wish and play the rules with growing a portfolio,... BUT if you bring in your emotional aggression and tendencies, it will reflect on your trading... Instead, you should work on yourself more. Don't be angry over unnecessary things Don't make a mountain out of a mole hill Don't risk anything you can't afford to lose Don't get angry over a small loss - you are in the trading den to make money NOT to be right Take 10 DEEP breaths in and out before you make any impulsive decisions or take any abrasive action. Focus on change and the whole world, your mind and your trading results will change with you... Let me know if this helps by commenting below or at least liking this post. Trade well, live free, Timon MATI Trader
JSE:J200Education
by Timonrosso
MONEY MANAGEMENT: The MOST Important Aspect of TradingIf you are a professional trader or plan to become one, Money Management is your #1 job. You could be the best chart reader or statement analyzer in the world but if you have poor money management you will still fail. In order to succeed you first have to last, and to last in the trading business you must be able to handle risk and manage it accordingly. How you handle Money Management comes down to a few simple things: Risk limits - This consist of knowing your risk per trade, your max drawdown, and buying power limitations. ○ Risk per trade: This is the amount you are willing to lose if the trade goes against you and stops out (remember to always have a stop loss). Many traders refer to this as Risk Units or simply 'R'. This should be a defined amount that does not vary based on emotion. If you do use different risk for different trades you should have that clearly defined in your trading plan otherwise each trade should be the same. Risk per trade should be around 1% for experienced traders and $10 for new traders as they work towards slowly raising risk with consistency. ○ Max drawdown: This is the max amount you are able to lose per timeframe. For example, a day trader may have a max drawdown of 3R per day, 7R per week, and 13R per month. Max drawdown demands that if you lose that amount in that timeframe you are to be done trading until the next one. This helps traders from spiraling out of control and blowing up a trading account. ○ Buying Power Limitations: Knowing how many trades you are able to take at one time will help define your strategy. Expectations - This consist of knowing your expectancy and timeline ○ Expectancy: Your trade expectancy is the most important stat in all of trading. It tells you what you expect to make per trade. In order to properly manage risk you have to be sure that the strategy is worth it. The expectancy stat is how you do just that. For more info about expectancy check out my post on it here ○ Timeline: Everything takes time. Trading is no different. Having a realistic expectation about your timeline and how much you are going to make is a critical element in helping traders stay focused on their goals and not fall into a get rich quick scheme. If you expect your trading career will take 3-5 years to become profitable you will manage your money much better than someone who expects full time profits in under 1 year. Yourself - This consist of knowing your personality and trading plan ○ Personality: What is your personality like? Are you a jittery person or are you robotic. Knowing this will help build a management that you can trust and are able to follow. ○ Trading Plan: Make sure your trading plan fits your trading style. You have to take many things into consideration here such as time constraints, goals, and personality. It takes time to figure out what works for you. If you can determine how to handle these three factors then you will be well positioned to not struggle with money management. After you have the fundamentals written in your trading plan all it comes down to is staying disciplined and following the rules set for yourself. Clearly define your limits, have an expectation, know thyself. Thanks for reading, follow @Jlaing for more educational post about Money Management, Trading Stats, and more. I also stream a stock day trading chat room every morning at 9:15 EST right here on TradingView, come check it out and say what's up.
BITSTAMP:BTCUSDEducation
by JLaing
Wave personality (PART 1)Characteristic waves "1": -Commonly,during the bottom start of waves "1"the accompanied news is generally bad, the period often exhibits the occurrences of recession (during intermediate wave degrees),or even depression and war(during large wave degrees). -At this point and given that the input information on the current economic situation dos not look good,fundamental analysts continue to lower their earning estimates. -Quite commonly, wave "1" are formed as a part of the bottoming phase or more generally, during periods of disbelief and thus, tend to demonstrate deeper corrective movement in wave "2" -Wave"1",the rebound from a preceding bear trend, is constructive and offers a more structured rebound from undervalued price levels.this move often displays a subtle increase in volume and is relatively supported by market breadth. -The short interest level peaks as the majorly of market participants believe that the overall trend is to the downside.investors view the rally as last chance to sell and get out. -When waves"1" rise from either large base formed by the previous correction, or from extreme compression. They appear as dynamic and dramatic , and result is that only moderate retraced is seen in waves"2" Characteristic waves "2": -Waves"2"act so as interrupt the progress and the directional move of price.They tend to heavily retrace (but not extend) wave"1",especially, since they themselves occur mostly during the periods of disbelief,prior to the market-up phase. -More often then not,news ans fundamentals tend to be worse during the end (bottom) of wave"2"when compared to the beginning(bottom) of wave"1". -systematically,during wave"2",investors are convinced that the bear market is proceeding once more following the termination of wave"1"or what they had perceived to be another counter trend rally. -Waves"2"are often associated with downside non-confirmations.This usually takes the shape of a wakening downside momentum and breadth.adding to this , waves "2" are often accompanied by low volume an volatility,indicating a drying up of selling pressure. It is not uncommon for waves"2"to take more time in formation compared to their preceding waves "1". Characteristic waves "3": -Waves"3"are strong and broad;the trend at this point is unmistakable.waves"3" occur are confirmed during the start of what the classic approach highlight as the 'mark-up' phase. -Turnaround fundamentals stories begin to flow in the financial arena,causing an investor confidence re-build. -Waves"3" usually generate the greatest volume and price movement,as they most often extended beyond their normal limits,with respect to both time and distance. -During waves"3",successful classical pattern-breakouts are commonly observed;multi-continuation gaps,volume expansions,exceptional breadth(since almost all share price and market sectors participate),as well as major Dow Theory confirmations and runaway price movement,which create large gains in the market,depending on the wave degree. -Corrections in waves"3' are usually weak and short-lived as those who bet on buying pull-backs suffer the likelihood of missing the move. Characteristic waves "4": -In principle,the occurrence of wave "4" implies that the best part of the growth phase which was evident in wave"3" has ended. -More often then not, waves"4" appear as a form of a sideways interruption.they develop as part of the building of a base for the final fifth wave move.in part,wave "4"is seen as the "public participation phase" as termed by the classical approach(Dow Theory). -Lagging stocks build their tops and begin declining during this wave,since only the strength of wave "3" is thought to have pulled them along for the upside participation.This initial deterioration in the market sets the stage for breadth divergences,non-confirmations and subtle signs of weakness during the fifth wave. Characteristic waves "5": -specifically,in stocks,waves"5"are always less dynamic than waves"3" in terms of breadth.With the exception fifth wave extensions,they usually display a weaker momentum as well. -As a general feature, volumes in waves"5" tend to be less when compared to wave"3" volumes. -during advancing waves"5",optimism runs extremely high as further public participation emerges, despite a narrowing of breadth. Nevertheless,market action dose improve relative to prior corrective wave rallies. -Commonly,during the top (end) of waves"5",the accompanied news is positive,implying that prosperity and peace guaranteed forever as arrogant complacency becomes evident in the financial community and financial news. Characteristic waves "A": -During "A" waves of bear markets;the investment world is generally convinced that this reaction is just a pullback pursuant to the next leg of advance. the public surges to the buy side despite the first valid technically damaging cracks in trend patterns of individual stocks. -The "A" waves set the tone for the waves that follow. A five-wave "A" indicates a start of a directional or trending mode,while a three-wave "A" indicates that a flat or sideways mode will likely follow. Characteristic waves "B": -"B" waves are phonies. They are sucker plays,bull traps , speculators paradise, orgies of oddlotter mentality or expressions of dumb institutional complacency (or both). -They are often accompanied by an emotional advance of narrow list of stock,which would be evident through non-confirming signs of TA-breadth and momentum indications. -"B" waves are often unconfirmed by all/broader market indices and are almost always expected to be completely retraced by the following wave "C". Characteristic waves "C": -"C"waves inherit most of characteristic and properties of third waves in the sense that they are persistent and broad . -In the case of bearish "C"waves: +They are usually devastating in their destruction . +There is virtually no place to hide except cash +The false impression that the bull trend is "back on track" which was held throughout its preceding waves "A" and "B" tend to fade away,as fear and occasionally multiple panic phase take over. +Fundamentals ultimately collapse in response of the market action. -In the case of bullish "C" waves: +They are constructive and often render sizable gains or return in waves of large degrees. +They usually give a fake indication that the bull trend is back to stay. Source IFTA
Education
by aliasadii
Your Ultimate Trader Personality Test! Would You Pass It?Here is a test that you can start with to know if you are psychologically ready to become a forex trader. 1- Do you get angry when you lose a game? Do you seek revenge? If yes, then chances are you will get even more emotional when you lose a trade especially that your money is at stake. Moreover, you will blame the news, president trump, your strategy, or even your friend who called you while you are monitoring the trade that lost. If you’re going to be a successful trader, you will have to learn to love taking a loss. Of course, you are not going to be happy to have a losing trade, but you will understand that losses are part of the process and you should be happy to be out of the market when the trade no longer represents a profitable opportunity. Revenge trading comes from one thing and one thing only, blaming the market for your loss. But let’s think about this realistically. Who is responsible when you have a loss? Of course, the correct answer is you. The market didn’t cause you to have a loss. Then when you seek revenge for the loss you received, you are actually trying to get revenge against yourself. The best fighter is never angry. ~ Lao Tzu 2- Do you think you are always right? Ego always wants to be right. In the markets, we as traders are not seeking to be right or wrong; we are seeking to make money. Your ego is your biggest enemy when it comes to trading. Because when you get too confident in your trading, you will not follow the rules as per your trading plan when believing that you are too good and that most of your trades will end up winning no matter what. If you let ego control your decisions in the markets, you will end up in a pool of losses with nothing learned but psychological and emotional pain. If you know a trader with an ego through the roof, he is not a trader, you may call him analyst, or instructor, or even a scammer, but not a trader. Know what you know and know what you don’t. And no matter how good you think you are, remember to stay humble, for if you don’t, the market will do it for you. 3- Do you fasten your seatbelt every time you drive? If you don’t fasten your seatbelt, means that you think that you are too good to make an accident. Hopefully, you will not make any accidents, but we both know that one accident can ruin your life especially if you weren’t wearing a seatbelt. We would rather call ourselves Risk-Managers not only Traders. As the only thing we have control on is our risk. The market can go anywhere. Professional traders think Risk, not Reward. No matter how good is your trading strategy, if you don’t manage your risk well and find ways to put the odds in your favor, you will not make it in trading. Trading without a stop loss is like driving without your wearing a seatbelt. One trade can blow your account. 4- Are you a follower? As a trader, you should never copy or follow blindly other trader’s analysis on social media or trading networks. You chose forex to be your own boss, why do you insist on being a follower? Moreover, do not doubt your strategy, entry, just because your fellow traders offline/online disagree with your position direction. The odds of being right aren’t with the crowd. The only way to make money, in forex or trading in general, is to trade by yourself and to be in full control of your account by following a well-defined trading plan that you implement objectively like a robot. You’re the one in charge of your trading. You alone are responsible for your success or failure as a trader. It is not the market… nor another trader… nor the trading system… nor the government or its news releases that are responsible. Develop your own trading style that suits your personality, time, and expectations and follow it with full focus. “If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.” ~ Jim Rohn 5- Can you wait for the green traffic light? To achieve success in forex trading, the first step would be to develop a good trading strategy with well-defined set of rules and to follow it objectively. Having the discipline to follow up your trading plan/rules is the surest way to build your trading career and make consistent profits over the long term. Self-discipline is NOT a trait that you are born with. Anyone can practice self-discipline, but it isn’t as easy as it sounds. “Just like Rome wasn’t built in a day” Nobody becomes successful overnight. It takes time, strategy, discipline, and consistent trading until your efforts pay off. The market pays you to be disciplined. Be disciplined every day, in every trade, and the marker will reward you. If you decide to trade without any rules, I promise you will not be successful. Freedom is good, but you need to have what I call “structured freedom.” 6- Are you usually committed to diet/gym? Are you into long-term relationships? The successful trader stays focused and sticks to his system/methodology. Just like you get married. You chose to spend the rest of your life with your partner, knowing that you may find someone better, smarter, more beautiful… but you are done searching. (Unless you want to cheat on your partner) Stop searching, for new methodologies. If your strategy is profitable. Then focus on it, master it, and repeat. You have got a money machine. Do not change methodologies week after week. Have you ever been in a marathon or planning to? Consistency and Determination is the key. Choosing to learn from your own mistakes rather than giving up is what determines a winning mindset. Just like trading, you pace yourself to win the long-distance trading race. Successful trading is supposed to be boring. 7- Do you finish your popcorn before the movie starts? For example, if you are not usually patient as a human, chances are, you will not be patient while trading. As a trader, 90% of your time is waiting. That’s why you need to be patient. First, you have to wait for the setup to form, and once you are in a trade, wait for your trade to hit stop loss or take profit. “The stock market is a device for transferring money from the impatient to the patient.” ~ Warren Buffett In brief, everyone can be a forex trader, but not anyone. Successful traders are made not born. To be a successful trader, you need to work on developing yourself as a trader in many aspects like risk management, problem-solving, flexibility and trading psychology. To be able to work on your trading psychology, first, you need to start from the core and work on your human psychology. Thank you for reading the entire article. You are awesome! ~Rich
COINBASE:BTCUSDEducation
by TheSignalyst
48
Successful Short Trade (BOOMER Market)Cable (British Pound Sterling, GBPUSD) is in an obviously beautiful BOOMER market, nose-diving South. During a Downtrend market like this is, one of the wise things to do - is to ride the wave, trading FOREX. As per the CONDI Trading System tules, the only trading allowed in this setup is (strictly!) with the trend. T.m. only taking Short trading opportunities, 100% confirmed by the CONDI Trading System. Recognized (yet another) such opportunity at point marked with the callout. Trade successfully closed with profit within 11 1h candles. Happy CONDI trading!
Short
by CONDI-Trading
1
Successful Long Trade (BOUNCER Market)GBPUSD has recently passed the NO-TRADE zone and morphed into the BOUNCER Market Personality. When Mr. Bouncer rules the game, we are allowed to trade both long and short. Which is great. As per the CONDI rules, most technical studies show near-perfect signals inside the Bouncer MP . The only condition is - every recognized trading opportunity has to be FULLY confirmed via the CONDI Trading System! Recognized such long opportunity, fully confirmed and legitimate, at the point marked with the callout. Trade successfully closed hitting the System profit limit within 4 1h candles. Happy CONDI trading!
Long
by CONDI-Trading
1
Successful Long Trade (BOUNCER Market)Apple stock has recently passed the NO-TRADE zone and morphed into the BOUNCER Market Personality. When Mr. Bouncer is in town, we are allowed to trade both long and short. Which is great. As per the CONDI rules, most technical studies show near-perfect signals inside the Bouncer MP . There's just one condition - every recognized trading opportunity has 2 be FULLY confirmed via the CONDI Trading System! Recognized such long opportunity, fully confirmed and legitimate, at the point marked with the callout. Trade successfully closed hitting the System profit limit within 2 1h candles. Happy CONDI trading!
NASDAQ:AAPLLong
by CONDI-Trading
Successful Long Trade (BOUNCER Market)In a Bouncer market like this is, the CONDI Trading System allows us to trade both long and short. We only pull the trigger - and this is important - as long as our trading opportunity is fully confirmed. Most technical studies show signals near to perfection while Mr. Bouncer is at play. Recongnized a promising long opportunity 100% confirmed via the CONDI TS at point marked with the callout. Trade successfully closed hitting profit-limit within a single 1h candle. Happy CONDI trading!
Long
by CONDI-Trading
Successful Long Trade (BOUNCER Market)Bitcoin has recently returned to the (re-introduced) Bouncer Market Personality. When Mr. Bouncer is at play, we are allowed to trade both long and short. Which is great. Most technical studies show near-perfect signals inside the Bouncer MP. The only condition is - every recognized trading opportunity has 2 be FULLY confirmed via our TS. Recognized such long opportunity, fully confirmed and legitimate, at the point marked with the callout. Trade successfully closed hitting the System profit limit within 2 1h candles. Happy CONDI trading!
BITSTAMP:BTCUSDLong
by CONDI-Trading
Bitcoin , and the man bringing it downWhat if Craig Wright didn't exist?? What if BCH forked normally, absent the eventual child like threats by Craig Wright , based on an what began as a disagreement with Roger Ver? What if Craig Wright didn't threaten to take down the greatest techno-economic instrument and experiment in history? Not content to "mine empty blocks" of BCHABC - conduct a 51 attack on ABC, DESTROY BCHABC and , after that , Bitcoin itself?? Why did such an esoteric, limited use case currency surge so high, and why did the market follow? Part of the market following can be explained by inter currency exchange and adjustments to prevent arbitrage, yet still, BCH climbed to $650.00. At one point people were paying 650.00 usd for BCH, not all that long ago. Before long , Craig Wright began to unravel publicly , and twitter account in hand threatened to destroy BCHABC, then BCH , and then Bitcoin. Presumably the entire market, except perhaps for a "Wright" coin. Is this really happening? An argument over a currency that most consider a liability when evaluating a companies holdings , etc. , has caused doubt as to the eventuality of Bitcoin itself. He has had help. We have a European bank executive on record today , taking pot shot's at Bitcoin calling it the "evil spawn of the financial crisis." This is a surreal day in the history of CryptoCurrency , a sad day for most , a satisfying one for Craig Wright , who has his work ahead of him now, taking your money , your friends, parents , loved ones money - and destroying innovation. Bitcoin is the child of necessity , not the evil spawn of anything . People have lost money trying to day trade it , it is still in need of protection from manipulation , fake news and bad psychology, and now apparently from Mr. Wright. How underwhelmingly pathetic. Mr. Wright , you aren't making any friends. You're public behavior calls into question your knowledge and intent; and if you destroy Bitcoin , I suspect that someone , somewhere will take exception to your existence , just as you have with Crypto. Not me. No, someone among the many lives you are threatening to destroy. I wonder if you thought of THE PEOPLE? Are THEY to blame as well , on the off chance they preferred anothers vision??? You could not possibly be Satoshi , but I bet Satoshi wouldn't care very much for you. Caveat Emptor.
BITSTAMP:XRPUSD
by Cryptocautious