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The Truth About Trading - how long to be profitable?Trading is hard work - But no one wants to hear that it is hard work. Everyone wants a short cut. A short cut does not exist. If it did - everyone would use it and the market would cease to exist. Everyone who starts out trading is lured in by the profit potential. You might get lucky and make a quick buck. But over time you soon realize that trading is a job, and a hard one at that. The markets offer the highest paid profession in the world - and it is the hardest profession. There are no set paths, clear schooling or achievements which put you into a position of earning a living. This is an entirely different world. It is you and the market. You are responsible for the actions you make, and the repercussions or rewards which come with those actions. It takes a lot of time and effort on your part if you truly want to succeed long term in the markets. This does not just mean learning about the markets and how they operate. It also requires skills that no other job does - understanding and working on yourself internally. Remain Humble - We all know of someone who brags about their position, their entry price or whatever. But there is something they likely do not have.. Profits. Ever wonder why the top traders dont brag or choose to talk about a position or how much they make? Because they are humble. If you do not remain humble when it comes to markets, they will humble you. If you are attached to your Ego, you will fail in the market, without question. The only question is how long will you survive? How long does it take to be a Profitable Trader? Every beginner wants to know how long it will take before they can make a profit. This is a loaded question - with no answer. I am often asked how long until you knew you had it? Or how long does it take to become a profitable trader? People are confused by my answer when I say "you never have it, or anything." Even wildly profitable traders lose money, sometimes all of their money several times. Trading is not about getting something, or somewhere. It is a journey, a dance. Do you dance or play the guitar to get to the end of the dance or end of the song? No, otherwise you would play or dance really fast! (Alan Watts). You play to play. You trade because you enjoy the act of trading. In other words the act of doing is the goal, not the end result. The market is a teacher who teaches you about your self. If you chose to ignore it and instead focus on what you want out of it; you probably wont get it. If instead you open yourself up, give in to it and what it is showing you; you just might get what you want. If you found this helpful please like! Feel free to comment or ask questions.
BITSTAMP:BTCUSD
by tradersmentality
4
1 MONTH FREE MENTORSHIP Heyy all hope you're having a great week so far! I know the world of trading can seem daunting, but it doesn't have to be. I myself went through the motions and the learning curve and honestly, as a trader you will always remain a student of the market no matter how good and consistent you become. I will be doing a free 1 month mentorship program this is to show you the real art of trading and also to show you the simplicity of being a profitable trader. We will cover: - Basics to advanced - Daily market break downs with in depth analysis - Live weekly sessions - Trading Psychology And so much more! Spaces are very limited as i can only mentor so many at the same time. So send me message on here (i don't bite ) Check out my analysis to understand what you may learn! Having said that, CHFJPY is looking good for some more upside potential as i previously highlighted :)
by Malika_Analysis
Lessons from an Experienced Trader Lessons from an experienced trader. Lesson 1. Never scalp. Although scalping seems to be the most profitable and best method in today's market, it is certainly not. Scalping is the hardest method to achieve a consistent performance. High frequency trading firms scalp, but they have many advantages over the retail trader including direct access to exchanges, highly developed algorithms with no emotions, and extremely low costs to name a few. When you are scalping you are competing against these firms or trying to manually do what they do with a computer. This above is only one problem. The bigger issue is the risk involved. When scalping, you must use a wide stop and be willing to scale in. One bad trade will erase 20 or more good trades. You must be extremely proficient at reading price charts, and be able to act without hesitation. This is virtually impossible for anyone who has not been trading for at least 3 years and has done extensive work on himself to develop the ability to flow with the market, constantly, without any internal conflict. And worst of all, scalping leads to bad habits. Once you get into the mindset of "get out quick" it is very hard to correct down the road. This makes swing trading more difficult later on after you realize it is a better method. Lesson 2. Swing Trade the best setups Swing trading is much more forgiving than scalping, offers a larger reward, and allows for a smaller risk (usually). This makes it much easier to make money long term. When swing trading you only have to win on around 40% of your trades to make a profit. If you can develop the patience to wait for strong setups, you can increase the winning percentage to anywhere from 50-70% and greatly increase your traders equation. A swing trading approach is also more forgiving when it comes to reading price charts. Some of those who discuss Price Action would lead you to believe you can predict what the markets are going to do next. This is simply not true, no matter how good you are at reading a chart. There is always a degree of randomness in the market, with any edge, any setup, or any context. When swing trading, you can afford to be wrong and make mistakes. So what setups should a swing trader take? Well, it depends if you want to always in trade or swing trade with signal bar stops. Either is fine, although an always in approach takes more practice and is harder to get right until you are good at reading charts. An always in trader has two choices. One to take every logical reversal (hardest to accomplish), and constantly reverse when necessary. Or two; wait for the always in direction to be clear and enter any in any fashion until the market flips. The second method is easier, although still tough, and slightly less profitable. An always in trader does not trade when prices are in a trading range. The reward is simply too low, and there are too many reversals to take and that fail, resulting in repeated losses and increased commission costs. What about a swing trader? A swing trader typically uses a signal bar stop, but can also use a swing stop to increase his probability. A swing trader does not have to take every trade he sees (unlike the first always in trader). In fact, it is best to wait for the best and clearest setups. What setups are these? High 2's, Low 2's (large) reversals and flags, Wedge reversals and flags, failed breakouts, and failed reversals. The first two are much easier to identify correctly for someone with less experience. The later two often trick newer traders, or fail once or twice before succeeding, making it a bit harder to get right. Lesson 3. Work on your self Like discussed before, most new traders and even those who have been around but haven't reached consistency believe that eventually you can read prices well enough to predict what will happen next. It does not matter how long you have traded, you will never predict the market. If it were possible to do so, the market would cease to exist! So instead of only focusing on reading charts and price action, you must work on your self. You must understand your strengths and weaknesses. You must be aware of your emotions and how they affect your performance. If you do not believe your emotions are directly related to your performance, you will not achieve consistency long term. We are all humans, a computer cannot do what I do. And you cannot remove emotions, no matter how hard you try to do so. So what is the alternative? Develop awareness of them, and use them to your advantage! It is as plain and simple as this. Trading requires you to understand your self, on a deep and internal level. You must be in tune with your self and the market. If you chose to ignore this fact, you may succeed temporarily, but it is only a matter of time before your performance diminishes. In order to make a lot of money, you must feel you deserve it. If you do not work on yourself, this simply will not happen. Does a professional athlete become a star by waiting around for his coach to tell him what to do? No. He dedicates himself in every possible way to his sport, including conditioning his mind to outperform his competition. Rather than waiting 2 or 3 years before realizing this, start working on your self from the very beginning. Not only will you become a better trader faster, you will become a better person; a better you.
AEducation
by tradersmentality
4
Crypto & Forex Strategy (No Re-paint) Highly ProfitableThis strategy is tested on selected forex and crypto pair. It won't re-paint until you are following the rules and not playing with the settings. 1. Use 15 Minutes Heiken-Ashi chart. 2. Apply the strategy 3. Enjoy!!! (If the strategy works for you, don't forget to buy me a cup of coffee.. ) Please let me know, if you find any trouble. It is always recommended to do your own back and forward testing before applying a trading strategy. Cheers, Jawwad
BITFINEX:BTCUSD
by jawwadsaif
A SMA pair that still being the most profitable for 13 years!Hey there! This is an example of how you can improve and simplify your trading decisions using algorithmic approaches. Watching this video you can see that SMA 15/16 crossover trading system still being the most profitable combination for the last 13 years on daily AUDCAD. The most profitable combination of the periods was obtained using Profitable SMA Crossover . You can see this indicator below the price chart. What is intresting is that it uses a decision tree-based algorithm under the hood to find and plot the most profitable SMA combination and that makes it stand out from other technical analysis indicators. As I promised, this year I will work a lot on optimizing classical indicators and strategies. Good luck and Happy Trading!
by everget
USD/CAD GREAT LONG OPPORTUNITY Hey Trarder, So we find USD/CAD on a Daily channel. We all wanted it to break it but it rejected it strongly. It appears to be looking to get to the Weekly Retracement of 78.60% (1.4120). I expect a small retracement to 1.31720 and an amazing entry in that area. It´s a great Risk/Reward ratio of a minimum of 1/2 and a maximum of 1/8. The TP´s I marked with the pink horizontal lines are out objectives to secure profits. It has an amazing probability to be a succesful trade. The only thing you need to wwait for before entrying is to reach that area and a strong rejection (strong bullish candle). What do you think? Happy profits.
Long
by JoseMier
The Moving Average Crossover Strategy - How to choose the best?Hey there! Well, this is not a trading idea actually. I just want to present my new tool to the community. This tool will help you to choose a type of moving average to create the most profitable trading system based on crossovers. Click on the price scale, point to "Labels" and switch off "No Overlapping Labels" option to get a better view. Detailed description can be found here . I repeat NOTE: The results may vary on different tickers and timeframes. If you see the preview result it doesn't mean that these crossovers will be profitable on other instruments and timeframes. This is a normal situation because time series and their characteristics differ. I know that because I tested this tool before publishing. NOTE 2: You can use this tool by yourself and experiment with it, or you can order a study and I will share the spreadsheet that contains results. PM me for more details. Good luck and happy trading!
BITFINEX:XMRUSD
by everget
12
Bitcoin : Bull Flag Creation - A chance to see a light.Bitcoin has been in consolidation during the holiday weeks and showed some improvement by the end of the weekend. And it showed a good uprise and is now testing its resistance and support levels. We might see bearish influence downwards upto 3850-3900 USD area and if bears can continue pentrating and broke the resistance we might see another leg down movement in the following week. But if Bulls can hold their strength and can broke the 4150 USD for sure and close above that resistance area around 4200 USD we might see a good upward move. This could also be a good thing for the alts which are not doing totally good for the last 1 month and a half. In the 4H chart both EMA50 and EMA89 are way lower than the price and RSI is at 61 showing a balanced chance for an upward move. If the bull flag creation is going to be confirmed our short to mid term targets given in our earlier call can be achieved very soon. Good Luck. Legal disclaimer: Information on this channel is our team's analyst's "opinion" based on data available at this point in time. These opinions are not recommendations to buy or sell securities/commodities and cryptocurrencies. Trading and investing is a risk and you should not rely on this data to make any financial decisions. You must consult a financial advisory licensed by regulatory agencies in your legal jurisdiction. All information stated here and in our reports don't guarantee any possible profits or losses. Please do consider to do your own due diligence and research when making any kind of a transaction with financial implications. With Regards. TeamTWA. You can give us your feed backs and suggestions on our effort in addition to this your questions here in trading view or in our telegram channel by the same name togetherweaccumulate.
COINBASE:BTCUSDLong
by cryptotalk_et
Bitcoin Reverse H&S ConfirmedEngulfing candle confirms bitcoins short term rally and time to setup distribution targets. Short Term Distribution Targets Target 1 : 4093 USD Target 2 : 4370 USD Target 3 : 4648 USD Target 4 : 5043 USD Stop Loss : 3340 USD Good Luck. Legal disclaimer: Information on this channel is our team's analyst's "opinion" based on data available at this point in time. These opinions are not recommendations to buy or sell securities/commodities and cryptocurrencies. Trading and investing is a risk and you should not rely on this data to make any financial decisions. You must consult a financial advisory licensed by regulatory agencies in your legal jurisdiction. All information stated here and in our reports don't guarantee any possible profits or losses. Please do consider to do your own due diligence and research when making any kind of a transaction with financial implications. With Regards. TeamTWA. You can give us your feed backs and suggestions on our effort in addition to this your questions here in trading view or in our telegram channel by the same name togetherweaccumulate.
COINBASE:BTCUSDLong
by cryptotalk_et
stochastic rsi + 100 ema strategyi have tried this strategy and i find it profitable with this rules: stochastic rsi: K = 5 D = 10 rsi length = 14 stochastic length = 14 Ema: 100 Rules: if the prise moves above the ema, then you are looking for a long positon. when the stochastic rsi is moving above the 80, look for a pull back. when the pullback comes you want the rsi to go below the 20 zone withoute eny crosses on the way down from the 80 zone. When the rsi then makes a cross below the 20 open a buy position. the risk reward shoud be 1:1 on first target and 2:1 on second. set the previos structure high as first targets. Dont trade if the prise closes below the 100 ema before the cross, this would make it unvalid. One more is that the structure high before the pullback must be higher than the previos stricture high. The same rules apply when the prise moves below the ema, just opposite. This is my first article and i hope you found it educatinal.
Education
by lusaa001
$GO Signal Give You 116% On My Entry! BAM!You can confirm the chart that i published here: ------------------------------------------------------------------------- www.tradingview.com Rules: #1 Always obey tradingview.com house rules #2 Always read the description #3 Don't spam on the comment section #4 If you wanted to request my opinions about a coin/token just give 10 likes on my published charts and I will do it the day or two after #5 My opinions are not financial advice, follow it at your own will and your own risk #6 Together, let's build a better community on this platform -------------------------------------------------------------------------
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by blockchaindedi