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If you'll flip an account, when you will blow it again?3. If you flip an account, like you want, how long would it take to blow it again? Let’s imagine you have a small account like $2000-$3000. What do you want from it? Most likely, you would like to live from it, so depending of a country you live in you’ll need somewhat between $600 to $2000 a month for a decent living, right? In this scenario, you’ll need to make 20-100% of your account per month. In order to make this much money, you will need to be either a super lucky and super professional trader with an astonishing winrate and good consistent risk reward. Most likely you are not. I am not if you ask me. So I don’t have astonishing WR and good RR. So what can I do to make this much of money, when my trades are not so good? Any ideas? Yes, I can risk more per trade and HOPE this trade will go in my direction and also HOPE that somehow I will stay calm seeing all this huge profits just grow and grow, and also HOPE I will be able to not close the trade when the pullback happens, and also HOPE I will stay calm and emotionally stable if the trade after having being in big profits will turn back and go to breakeven or a drawdown. Sounds familiar? So actually how mentally strong this person should be to bear all these emotionally? And how many times in a row the the person will be able to do it? Is it realistic to expect consistency from this style of trading in the long term? But ok, let’s imagine, someone is able to produce 100% a month from his $2k account? Can you imagine how emotional this person will feel? He definitely knows that 5-10% a month is already a great, great result (if done consistently though), and he just made 100%. He will probably think he’s the king of the universe and he will probably try to make even more than 100% that next month. Really the only thing he does is taking a big, big run off the high high cliff and soon he will be dead, meaning he’s account will be blown. This kind of thinking will help me to better understand the absurd of the desire to flip an account, at least for myself.
Education
by Yelli_trades
Importance of Risk Management - let's talk about it againIntroduction We all hear from everywhere about risk management. They all say the same: “It’s important, it will help you to protect your capital, etc., etc.” But today I wanted to talk to myself about risk management in more detail. And I’m sure I will have a much better understanding of practical risk management in forex after this - I will talk through its psychological aspects, about RM role as the main principle of trading. I will do it in “talking to myself” format to remind myself in the first place about how important risk management it. Don’t be fooled by the simplicity of risk management. Unfortunately, risk management in FX is too simple. Dangerously simple I would say. In its basic form, good risk management means risking 0.25%-1% of your account per one trade. That’s it. Just do that and most likely you will have an unbreakable account for at least several months. Yes, of course, you can have a drawdown due to emotional trading or revenge trading or whatsoever. But because you will have good risk management, I will have so much time to stop trading emotionally, I can even take 10 revenge trade or 10 absolutely random stupid trades - and your capital will still be in place, even if you will lose every and each of these 20 trades. I ask myself the question - how do people blow their accounts? Very often it happens in 1-5 days of bad, emotional trading, even if the whole months before was good. I’m talking from my experience though, and I don’t know - maybe everyone else is good as their risk management. So why really it happens? In the first place because of bad risk management. Not because of the strategy, not because of the market acting randomly and not in my favor. Because I don’t want to have a simple yet powerful rule of risking 0.25-1% per trade. I start to complicate things and want to risk 5-20% at first, to gain some profits, and only THEN I want to implement good RM. Theoretically, it’s possible, yes, but in reality, I lose my mind and blow my account. So don’t be fooled by the simplicity of RM - because it’s not easy. Because it’s not easy to control yourself while facing a possibility of doubling your account in 1 day and to stay calm and even indifferent to it. Always remember, Risk Management is the #1 rule, you can't control the market, but you can control your risk management. Stay calm and risk 1%. Trading is a survival game. RM is the foundation of any strategy, risk management is the most important part of any strategy and step #1. Stay calm and risk 1%. Jesse Livermore said: "If you cannot sleep because of your stock market position (you are weak), then you have gone too far. Reduce your positions to the sleeping level." Stay calm and risk 1%.
OANDA:XAUUSDEducation
by Yelli_trades
1
Gold Price Analysis after Trump contracts coronavirus The world is in shock after President Donald Trump tweeted that he tested positive for coronavirus. Stocks markets fell, and gold finally broke free of the correlation with equities and advanced above $1,900. The bombshell development continues grabbing the headlines and casts questions about fiscal stimulus, the elections, and other topics. As investors continue watching the latest developments, how is the precious metal positioned? Looking up, gold faces its first noteworthy cluster of resistance at $1,910, which is the meeting point of the Bollinger Band 4h-Upper, the previous daily high, the BB 15min-Upper, and other lines. The upside target is $1,928, which is the confluence of the Pivot Point one-day Resistance 2 and the PP one-week R1.
TVC:GOLD
by Ridethemacro
2
Twitter Time to Short and Hold Crash Ahead ?Company Details Full Name Twitter, Inc. Country United States Employees 5,200 CEO Jack Dorsey Stock Information Ticker Symbol TWTR Stock Exchange New York Stock Exchange Sector Communication Services Industry Internet Content & Information Unique Identifier NYSE: TWTR IPO Date November 7, 2013 Description Twitter operates as a platform for public self-expression and conversation in real time United States and internationally. The company offers various products and services, including Twitter, a platform that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others. It also provides promoted products and services, such as promoted tweets, promoted accounts, and promoted trends, which enable its advertisers to promote their brands, products, and services. In addition, the company offers a set of tools and public application programming interfaces for developers to contribute their content to its platform, syndicate and distribute Twitter content across their properties, and enhance their Websites and applications with Twitter content. Further, it provides subscription access to its public data feed for data partners. Twitter, Inc. was founded in 2006 and is headquartered in San Francisco, California. The IPO opening print also marks the 50% retracement of the downtrend into 2016, highlighting the need for skeptical buyers to come off the sidelines here and lift the stock into the $50s. The uptick has just eased into a trading range that acknowledges resistance, so a positive catalyst may be needed to trigger a breakout. That could be a tall order in the fourth quarter, given the extraordinary challenges. As a result, there isn't much to do except to wait and watch price action in coming weeks. The Bottom Line Twitter stock has returned to seven-year resistance and still give no clear break out above the IPO 50% Retrace Level, Ahead elections Covid-19 $ Crash may lead s&p500 and major stock market to down side, we can expect a twitter crash or Correction to down side soon! Best Regards: RideTheMacro
NYSE:TWTRShort
by Ridethemacro
1
10 Mid to High Risk Stocks for my Breakout WatchlistImagine holding SPI as a penny stock, selling it at 7% draw-down, and few month after waking up to see it somehow have went up 4000%? While I do think there might be a possibility of foul play or might not, I have obviously made a mistake. This lead me to create this list of ten stocks I am watching from the sidelines, that I may do a breakout entry for. These are mid to high risk, and the drawdown can be severe. Volatility is not for the faint of heart. JMIA has a lot of high growth potential, and I feel like it just needs to break the resistance curve. SLNG is not too high risk of an OTC stock if you are wanting to invest a bit in that sector. SXTC may be somewhat of an oversold penny stock. Hudson Capital seems like a dip in the real estate space. I also think it may have around the same potential as CBL, but I rather trade something new. RZLT is a biopharma play that I think may be underrated. NWGI has a decent buy target by many analyst (so I heard), and is in a trending market segment. Remark Holdings already had many dips and so did BBI. I think the current entry is one of the more decent ones. Adomani may be oversold, and they recently updated their executive team in which I am on the fence. While I think they need to start looking less at buses and more on expanding the electrification tech they have, I still think for the price they are, definitely has somewhat some long term potential. $TAKOF is extremely dirt cheap and underrated in my opinion. I think this is one of the more worthwhile "gambles". That being said, invest at your own risk and do your own due diligence. Please consider everything I say "as is" or on an opinion based basis. This is not meant to be taken as actionable financial advice.
NLong
by gamer456148
1
GOLD's long-term bearish scenario!This may seem a little radical! But first let us review what brought #Gold here. This my analysis of gold when it was ~ 1400$: That was clear that risk will push gold higher and now we reached to the target area. Albeit we had first agreement between US-China meanwhile, but on the other hand Covid-19 came into play and it even worsened their relation too. Anyway, now market seems a little baffled about whether is there any more demand left to push it higher? My answer is it doesn’t seem so. The fact is that Gold will reach higher as the long-term concerns about economical risks gets higher. There’s a point where no more new concerns come in and market becomes over-buy. Now as the concerns about long-term effects of the virus pandemic is getting lower gradually, it’s rational to think we would gradually come back to where we were in Jan, 1500$-1600$ zone. As you can see in the chart this zone is the target for two harmonics that formed recently. So, it seems that FA and TA may be consistent here. Reaching to the next bearish target needs more risk to be faded away in economic and political spheres. Now IGN sentiment indicator says that 79% of the traders are net long and open interests are declining. This is fragile and price actions could help us see if they’re really selling at the top. One significant sign would be stable price below previous ATH (that was ~1921$). Another is high volumes in this zone we are in, that almost is the case as you can see volumes are relatively high here. The two harmonic patterns are the Shark and Alt-Bat. Technically speaking gold behaves very harmonic imo. But this is a monthly chart and it’s very challenging. They may become invalid quickly if price continue to go higher and become stable above last ATH. This chart is the vision of my own algorithm in monthly TF: Targets are consistent in my own algo too but still got no bearish signal on price action. But one or two more bearish candle would do so. VP is also consistent with harmonic and fundamental target. So, all it needs is significant selling pressure. For those who trade big or with low or no leverage, R/R ratio is great. But this is not a trade advise and I recommend to do your own research. There’re bullish scenarios that I didn’t talk about here. I’ll try to update this idea with my own algorithm signals. Have best trades.
OANDA:XAUUSDShort
by DarkWaveHunter
5
DIS Disney in a Long-Term Correction. What's next?DIS (The Walt Disney Company) is an old favorite for many who have had it or have it in their long-term portfolios, especially with this stock's long-term history. The last 10-20 years have been some of the best for Disney with Bob Iger at the helm and the successful M&A, Creative, Movie launches and much more (Star Wars, MARVEL, New acquisition of FOX properties and much more). The upward momentum for Disney seemed like it would never end. That is, until the pandemic of 2020 proved that Disney was overexposed. Whether theme parks, movie release and launch delays and compromises, and ESPN sports covering nothing interesting for several months, the trifecta took hold and saw DIS take a 50% retracement off its high in just a few weeks. DIS proved resilient. Having already invested in the future of digital with Disney+ and bringing in a new CEO Bob Chapek to lead the new chapter of Disney, there was a glimmer of hope for Disney. Still, long-term market cycles (note my WEEKLY chart) don't recover overnight. Expect DIS to continue seeing volatility in this large consolidation pattern. One might unfortunately link the stock's performance directly to sentiment on the pandemic and any hopes for a vaccine and re-opening of the economy, especially entertainment venues and attractions which Disney is overly dependent on. DIS is a risky stock in the short to mid-term but can be a fun stock to trade while raising money to save a few shares in your long-term investment portfolio.
NYSE:DIS
by Shadowfigure