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Riskreward

5 KEY points to control FOMOHi Traders, FOMO is a VERY real thing and in this post, I wanted to share with you 5 key points that has helped me control my psychology around this throughout my trading journey. 1. Accept the market can go in any direction; Neutralize your mindset: The market changes very quick on any given basis and just when you think you have a perfect set up, it could take a turn and make profits turn into losses in matter of seconds. As you analyze the market, you need to have a neutral mind set understanding that price can go either way and as structures develope, you may need to change your bias and take a step back to look at the price action in a different view. If you approach the market in a neutral mind set, you are not "marrying" your set up and this helps reduce your emotions and builds your psychology. 2. Risk Management: Risk Management is the holy grail in trading. If you cannot control how much you risk, you are simply gambling. Losses are inevidable in trading and you need to understand you will always endure them, but keeping the risk at minimal (1%) will sustain your capital to be able to continue trading. Keeping the same risk on each and every trade and maximizing your reward ratio will help you compound your profits and eventually your losses will be outweighed by your rewards. 3. If you missed the first entry, there will ALWAYS be another one: Often traders will try and chase a massive drop HOPING that price will push down further when in fact could catch you with your pants down. Understand that there will ALWAYS be another entry that may fit your trading plan. If you missed the first one and start chasing volatility rather then sitting on your hands waiting for another confrmation, your judgement gets clouded which will the create revenge trading, greed, FOMO and capital loss. 4. Take what the market gives you; leave your EGO at the door: Any experienced trader will tell you to check your EGO. Just because you THINK the price will go to your target, it doesn't mean that it will. Price does not need to reach your target for you to be profitable, taking your profits as the market gives you will make you profitable. As the market moves and creates structures, at times it may not be ready to continue to rise or drop and that is why you need to manage your trades accordingly and adjust your mindset to acheive this in order to avoid uncessary losses. 5. Have a Trading Plan & Follow your Trading Plan: Having a Trading Plan is key in order to know when to get in or out of the market. If you are unable to identify your profit targets/stop levels, entries, exits etc. you are doomed to fail. Following a plan will help with consistency along with many other areas towards the road of success. Implementing a plan is just one area which will help gain confidence in this business, its what that plan entales which will help you succeed in this business. Every trader that has they're own trading style, plan, management and mind set and there is NO right or wrong in trading as long as you are following your plan and your decision meets your criteria. I encourage every trader to review your plan and make necessary changes as your journey continues to achieve greater results. Leave a comment and and share your thoughts around this topic :) Click the like button if this has helped you! Support more of these to help our community! Enjoy your weekend!
Education
by ktlfx
1
Smooth Love Potion (SLP) broke out longest channel.Hi dear friends, hope you are well and welcome to the new trade setup of Smooth Love Potion (SLP) token. On a daily time frame, SLP broke the longest down the channel. There is also a bullish divergence as priceline is forming lower low and RSI is setting higher low. Buy between: $0.022 to $0.03 1st target: $0.04 2nd target: $0.06 3rd target: $0.10 Final target: $0.35 Stop loss: Below the support of $ 0.0175 Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
Long
by moon333
8
AAPL: Possible scenarios and complete analsis.Hello traders and investors! Let’s see how AAPL is doing today! In the 1h chart, we see a classic Triangle chart pattern. We don’t know to which side we’ll see a breakout, but we can work with some scenarios and set strategies. If we break downwards, I see AAPL at its Fibonacci’s Retracements, preferably the 61.8%. By breaking upwards, we would seek the next resistances, which we see better form the daily chart. The next resistance on AAPL is the $ 177, and the second one is the $ 182.94, the ATH. To me, the Risk/Reward ratio is more attractive for short trades, in the short-term, at least. However, since we are above the 21 ema (which is pointing upwards), and the bias seems to be slightly bullish in the mid-term, the odds might favor the bull on this one. What’s more, since the beginning of the month it has been moving sideways with low volume, indicating that this could be just a harmless sideways correction before it could go up again. Long-term speaking, AAPL is still very bullish, as we just hit our previous support at the black line 2 weeks ago ($157) and it reacted amazingly well after this. The 21 ema is another support, and it is working very well too. The next few days are going to be decisive. Let’s keep our eyes on this Triangle in the 1h chart for now. If you want to keep in touch with my daily analysis, remember to follow me and I’ll keep you updated.
NASDAQ:AAPL
by Nathan_The_Finance_Hydra
4
FEW SIMPLE TIPS TO IMPROVE YOUR TRADING PERFORMANCEToday we prepared for you few simple tips that may help you improve your trading performance. Please feel welcome to share your own tips in the comment section. Educate yourself. No trader can become successful without spending plenty of time studying charts, fundamentals and technicals. Nowadays, there are plenty of financial gurus and trading courses which claim to offer knowledge that will transform you into a professional trader in just a short amount of time. Unfortunately, most of these services offer only shallow information that has no use in the real trading world. In our opinion, literature written by renowned traders and economists offer more profound knowledge and usually at better cost. Analyze your trades and strategies. Analyzing your past trades and strategies can help you learn from your mistakes. Additionally, it can help you recognize what you did correctly and what works for you. Do not trade without a proper trading plan. Each trade should have a proper trading plan. This plan should at least consist of entry/exit points and risk/reward evaluation. However, creating different scenarios for each trade can help you navigate the market even better. Evaluate your risk/reward associated with each trade. Each trade has a risk/reward ratio tied to it. Generally, a risk/reward ratio of 1:3 or more is preferable. Do not chase the market when you are not sure where it is headed next. There are times when the market is very volatile and experiences swings from side to side. Often, in such times, a trader may be unable to tell where the market is headed next. On such occasions it is usually better to take a step back and not to trade. This can help avoid loss of capital due to whipsaws. Take a time off after the winning streak. Winning streaks often result in confidence being gained by a trader. However, many traders tend to get overconfident which usually leads to loss of capital that has been amassed through the winning streak. Therefore, it is usually better to take some time off trading after substantial gains were made. Take a break from trading after the losing streak. Losing streak can negatively affect a trader's decision making. It can often result in loss of confidence and a needy feeling to make money back. However, a trader should resist these urges and take some break from trading. This is mainly because if a trader does not have confidence, it is much harder to execute trade properly. Do not overtrade. Sometimes there are no good trading opportunities. In such times it is usually better to take the role of market observer instead of trying to make money at any cost. DISCLAIMER: This content serves educational purposes only. It is not financial advice.
TVC:NDQEducation
by Tradersweekly
8
$HUT primed for a rip? BTC up, do miners make a run?With BTC/crypto finding support going into the weekend, crypto miners are set to make a run for the week of 2/7/22 I traded $HUT in the past on it's run to it's high of $16.57. Many bag holders on the route back to that high, so I would expect selling pressure on any movement to the upside. Not expecting a run to $16 in the coming week, but a run to $9.00 definitely looks possible Drew some crystal gazer tarot lines (lol) from recent high bullish volume points that create a channel that looks primed for a break out 1st PT: 7.09 2nd PT: 8.10 3rd PT: 9.00 $5.8 range is support/technical exit level Watching for confirmation of break of 50EMA for further movement to the upside BTC/crypto sentiment will weigh heavily on the momentum of movement - bullish and bearish Many of these miners are great for trading to grow small accounts, and often run parallel with BTC/crypto sentiment As always, stay sharp, and manage your risk! Good luck! Senor C *Not financial advice*
NASDAQ:HUTLong
by Senor_C
GBPJPY Day Trade Idea // Price Action TradingGbpjpy can move quite a bit. It can be a blessing and curse. Mentioned previously in the > JPY Weakness Post, we discussed potential JPY weakness , given current market sentiment leading up to interest rate announcments for the GBP and the EUR. Very bullish Price action confirming our bias, this means buy the pullback >> and aim for good risk reward >> be confident in your decision >> embrace a probabilistic mindset >> When you take wins, don't be surprised because that's what you were looking for in the market. >> Losses suggest higher volatility that you didn't anticipate correctly, or you are simply outright wrong with your analysis, and you should go to the Higher time frames , and this will give you your answers, with appropriate reasoning and logical thinking
Long
by ShrewdCatfx
NQ / MNQ - Ready to climb and here's whyThe red pitchfork indicates the ongoing downtrend is intact. The Overshoot below the lower medianline parallel is acting now as support as we can see at the green circles. The 1,2,3,4 numbered channel (which has nothing to do with the pitchforks btw.) is up-sloping. Point 4 is projected from the slope of 1 & 2, and the attached handle at 3. This gives us the inflection point 4, which converges perfectly with the red L-MLH . This is a good time to draw a new (grey) pitchfork. And we see how wonderful even the handle touches the prior convergence (green circle & L-MLH). RSI has already crossed to the upside on the 24th and seems to hold now the critical oversold level to go north again. To me, these are nice indications that NQ will move to the upside. A superb Risk-Reward Trade.
CME_MINI:MNQ1!Long
by Tr8dingN3rd
ULTRACEMO - LONG @CMP 7660Swing Idea: NSE:ULTRACEMCO - LONG @CMP 7660 Entry -> 7660 SL -> 7395 TGT 1 - 8000 (R:R = 1.3) - Time frame -> 1 month TGT2 - 8200 (R:R = 2.05) - Time frame -> 1-2 months TGT3 - 8800 (R:R = 4+) - Time frame -> 4-6 months Reasoning: - Stock moving in a channel since 1+year. - Stock moving on lower end of channel with good consolidation - On the verge of breaking triangular pattern Caveats:. - Can go below channel on global cues, and pandemic news. Shake-up possible. - Earnings coming up in 3 days, could be a make or break situation
NSE:ULTRACEMCOLong
by it_swing_trader
ROSEs are red...ROSE is currently testing its 100-day EMA and ~0.455 level. It has also been trading within an ascending channel since December 2021 where it gained ~192%. Naturally, since its ATH it has faced a pullback to its 50% fib level. ROSE must now decide whether to fall further toward the 38.2 level, which is a common occurrence when BTC is weak, or it can gain momentum and re-test its higher fibs and ultimately its ATH. ROSE has a good risk: reward ratio. If BTC avoids a further fall below the 40k level, ROSE can move up. It is important to wait for confirmation of the trend before entering a trade. Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :) Please feel free to leave your comments and thoughts below!
Long
by kush23456
2