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Profitabletrading

HOW TO MANAGE YOUR EMOTIONSHello everyone! One of the most important , and in the same time, one of the hardest aspects of trading is the ability to manage correctly your emotions and leave them aside while trading. So how can we manage our emotions in stressful situations? Here are some tips that every trader should consider when starting trading: 1. DO NOT ACT ON ANGER: every time you feel strong emotions, hold back and revisit your trading plan, is your move aligned with your initial plan or are you acting on irrational emotions? One of the worst things is to take a position based on anger after a loss in order to recover the losses. Take a deep breath and rethink your decision! 2. DO NOT FALL IN LOVE WITH YOUR POSITIONS: we all want to always be right, but sometimes we have to accept a bad position and close it. It is common to fall in love with our positions and hold it out of hope that the market will switch, but involving emotions just blow the account, stick to your plan! 3. ESTABLISH SOME TRADING RULES AND KEEP A TRADING JOURNAL: setting your own rules of trading and risk management is crucial for a profitable account. No matter what you hear from others and how good a position may look, if it is not aligned with your rules, do not take it! Moreover, do not change a strategy after some losses, stick to what you have learnt and planned, keep the information in a trading journal and plan your next moves based on you learnt from it. 4. TAKE A BREAK AFTER 3 LOSSES IN A ROW: it is natural to have a bad day, but when this happen do not become over emotional and over trade, but rather take a break and wait for a new and fresh trading day. Strong emotions will ruin any important decision, no matter the context, so try to avoid them. 5. SET TP AND SL AND TRUST YOUR JUDGEMENT: after establishing your trading plan and risk management plan, in order to stick to your risk to reward strategy, you have to use Take Profit and Stop Loss orders, and trust your judgment and the market. No matter what happens, this helps you have a clear forecast of your account, without blowing it. Also, avoid getting greedy and secure your profits with take profit order. 6. LOWER THE TRADE SIZE: if you feel overwhelmed by the risk on each trade, and out of fear you make irrational decisions, try to lower the trade size to what feels comfortable with you. After doing this, always update your trading strategy! 7. DO NOT GIVE UP! : there is a point when every trader feels like giving up, losing all his faith, but you should understand that this is the normal journey, with ups and downs, and if you do not let yourself intimidated by the downs, the ups are limitless!
OANDA:XAUUSDEducation
by m_maia14
2
THE POWER OF STOP LOSSHello again! Here I prepared for you what I consider the most important tool when it comes to risk management and developing a discipline, which helped me a lot in my trading journey: stop loss! At first, I have to admit that I found it truly frustrating to see how 2 pips can trigger the stop loss and right after that my position reaches my target, but in time, I realised that in order to stick to my trading strategy and become profitable, I have to also accept the losses, even when I consider them "unfair". Using the stop loss order not only that it helps cutting the losses, but can also help you lock in the profits. What helped my account the most was, after a while when the price goes in the desired direction, to move the stop loss at the entry point (so whatever happens, there will be no loss), and it honestly eliminates a lot of stress, especially during night. Hopefully you will find this information as useful as I did, and feel free to ask anything in the comments section!
Education
by m_maia14
Ripple : This seems to be "Absolutely" perfect time for Entry.Hello guys. It's been a little while since we have posted our idea. Here we again giving you sharp and well studied technical analysis once again. Happy to get back to you. So our today's study will look at the long awaited #XRP breakout. Ripple have been struggling since June 2021 and has been in a longer down trend correcting itself with other alt coins. In the weekly chart that we consider to see the possible outcomes in the mid to longer terms Ripple breaked out from the strong resistance line depicted by the upper side blue line. Volume looking goo after a huge amount of cash flowed into XRP and specially the court case that the ripple community won did have a very big impact on the breakout. - On the other hand MACD50 looking bullish heading to be under the price in the following days if trading will continue to behave the same way as it is now. MACD 200 looking comfortably bullish too which starts to be under the price for the second week in a row after the newly started weekly candlestick. - At last the falling wedge created seems to be already broken and bulls are having a good positions helping themselves strengthen in the prior 2 weeks. Conclusion : Considering the longer term investment opportunity we are looking for a very good profitable trading on XRP since it have a good project on hand with a very strong community base. Besides the fundamental insights technically speaking the chart is defiently on favor of the bulls. I will be analyzing the shorter timeframes and will give you some insights about the short term profit possibilities. Accumulation Area : 0.41 usdt - 0.55 usdt Possible strong resistance areas to consider a distribution for traders are : Target 1 : 0.68 usdt Target 2 : 0.92 usdt Target 3 : 1.12 usdt Target 4 : 1.32 usdt Target 5 : 1.6 usdt Target 6 : +1.96 usdt Stop Loss : 0.38 usdt and 0.31 usdt Thank You For Your Time and don't forget to give a like if you agree with the idea or drop your comments if you don't agree with the idea and lets learn from each other. With Regards. Nathnael B.
Long
by cryptotalk_et
4
OP/USDT (5-Wave Bullish Scenario)Hi Traders & Holders, The analysis carried out is on OP/USDT. I am bullish on OP. Firstly it is a relatively new coin and has performed very nicely recently due to the Ethereum merge event. Other coins e.g. UNI, ETC, MATIC, LDO were pumped because of the event that was to happen. Now that the merge has been completed and the market has decided to dump price of mentioned coins as well as Ethereum. In trading world people buy at rumour and sell at news. It was certain for a selling pressure to occur. Optimism (OP) is a Layer-2 scalable solution for Ethereum and has its own blockchain. The project is fundamentally solid. According to the analysis I performed there are some key things of interest: 1) Wave 1 has been completed marking OP all-time high price of $2.243 2) Wave 2 is yet to be completed I speculate at $0.772 price. The 0.618 FIB level was broken down and next which is 0.786 FIB level acts a major support. 3) Wave 3 will come and brace for it. It is the largest wave out of 5 waves. Many traders enter in at wave 3 as it gives exponential gains. I speculate the price would easily surpass all-time high and reach to $3.767. It is 1.618 FIB level using Trend-based fib tool. 4) Wave 4 will be steady and will take long just as much as Wave 2 is taking now. I speculate the price for wave 4 will find support at $1.90. That will be atleast at 49.24% drop from high of previous wave. It should consolidate between the range of $1.90-$2.10 5) Wave 5 which is the last wave but it is always a steady healthy upside wave. It will cross the high of Wave 3 which will be $3.767 but remember it is not the biggest wave. It will still be profitable if you enter at wave 4 ranges. I speculate the price to reach $4.37 marking OP all-time high yet again. Hence this is my analysis on OP/USDT. Remember I DONT HAVE A CRYSTAL BALL :) It is purely based on my assumptions. Trade wisely. I hope it goes as mentioned above I would be extremely happy to be sharing it way before that time. If you liked my analysis, follow me and reply to what you think about it. It is my first-ever post published. Thanks for taking out the time :)
Long
by hshtrading
1
Ridiculous Results in Strategy Tester! Can this be right?So here's another strategy I been playing around with and somehow came to this for BTC|USD Am I just fooling myself or could these results actually be legit? (As legit as backtesting can be.) The indicator is the "3C QFL v3" indicator. All set options etc you can go through if you're interested. I've set an alert with {{strategy.order.alert_message}} in the hopes to figure out how to automate this thing using PaperTrade. This way I hope to get a better understanding of the indicator over time as real-time trades happen. If anyone has any comments or advice or confirmations etc please let me know in the comments. From what I can see, this is almost good to be true, or am I wrong?
COINBASE:BTCUSD
by Kev_Bourn
Lucky Indicator Strategy Setup for BTCHey Crypto Traders So I was playing around with a bunch of different indicators in no particular order (as I'm sure we all have some time or another) and I came across this one which I spent quite a bit of time messing with all the settings and variations of features you can either allow or ignore. I finally ended with this - just over an hour later. I've only had it set to last 1 month's time period but f you feel like giving it a go, I think this setup is rather decent in terms of flexibility, and from what I can see - it's rather successful! ( $1000 SC >> 01 M >> Almost $800 with less than $200 DD ) Dunno what you think. but that's a WIN in my books! Please leave your opinion or results in the comments if you decide to give this strategy a spin.
COINBASE:BTCUSD
by Kev_Bourn
1
$ETH Maddrix III - Great SHORT taken, 50% of profit lost in pumpThis week Maddrix III took a short position (randomly decided by the algo) and it was our lucky day because it was dumping. It was frustrating because profits were cut by 2 due to the pump back. What is important to learn here is that when you have a trading system, you MUST stick to the rules. In this case, it reached it's STOP level, so it exited, for a much smaller profit. We can see that it then went back down and it "could" have made more. The problem is when it was pumping up, it could have kept going higher and higher, and the safest is to take some profits, instead of thinking "what if". This is what it means to be disciplined and have RULES. If this was done by a human, it would be very hard. Good thing the algo is taking care of it!
by Maddrix_club