SWING IDEA - HEGHEG, a key player in the graphite electrode industry, presents a strong swing trading opportunity
Reasons are listed below :
1950-2000 Strong Support Zone: This zone has proven to be a reliable support, making it a crucial level for price stability.
Bullish Engulfing Candle on Weekly Timeframe: A clear sign of buying strength, indicating potential for a bullish move.
Cup and Handle Pattern Breakout and Retest: A textbook breakout followed by a successful retest, signaling potential upward momentum.
50 EMA Support on Weekly Timeframe: The stock is supported by the 50-week EMA, adding to the bullish bias.
Target - 2400 // 2740
Stoploss - weekly close below 1900
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Stocks!
XAUUSD 25-9-2024Hello Traders, Thank you for following me. I have been very much inconsistent with my post due to my travel for job.
This is TIP for everyone, specially if you are a beginner in any market. this is the market you want to avoid, check this level on 5min and check how you will get trapped everytime you try to get into trade. this is the market that will wipe your account every single day.
DJT STOCK: Will The Bulls Survive The Crash??DJT shares traded into a significant low of $12.33 per share this week. Seams the bulls are ready for a rescue mission, a strong weekly push out of the low could open more bullish sentiment on the shares of DJT for the coming weeks.
UNITED HEALTH forming a bottom.United Health (UNH) gave an excellent dip buy opportunity last time (March 29, see chart below), with the price even breaking above the long-term Resistance Zone eventually:
The price has since entered a Channel Up pattern with the price now below its 1D MA50 (blue trend-line), having already topped and attempting to form a new Higher Low at the bottom of the pattern.
Like the previous one in June, this bottoming process can take another 3 weeks, so we will time it accordingly and target 675.00 (+21.00% rise, similar to both previous Bullish Legs).
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Lesson 3: Discipline – The Pillar of Consistent ProfitabilityWelcome to Lesson 3 of the Hercules Trading Psychology Course—Discipline: The Pillar of Consistent Profitability. Building upon the foundational traits of Initiative and a strong Trader Mindset explored in the previous lessons, today we delve into Discipline. This crucial trait is the backbone of sustained success across all financial markets, including forex, stocks, commodities, and cryptocurrencies. Whether you’re engaged in short-term day trading or long-term swing trading, mastering discipline is essential for maintaining consistency and achieving long-term profitability.
Why is Discipline So Crucial in Trading?
Even the most passionate and knowledgeable traders can find themselves losing due to personal hurdles. Discipline acts as the glue that holds your trading strategies together, ensuring that emotions don’t derail your plans. This lesson serves as a gentle reminder to stick to your discipline and offers a straightforward fix: set up a structured system for your entries and exits. Keeping this system in plain sight can significantly reduce errors, making it easier for you to adhere to the right processes.
In the dynamic world of trading, discipline is not just about following rules—it’s about creating habits that foster consistency, reliability, and resilience. For swing traders, who hold positions for several days to weeks, discipline is particularly vital. Unlike day traders who make rapid, short-term trades, swing traders need to maintain their composure over longer periods, resisting the urge to make impulsive decisions based on short-term market fluctuations.
Understanding Discipline in Your Trading Journey
To truly grasp the importance of discipline, it’s crucial to define what it means within the trading landscape. Discipline involves several key aspects:
1. Adhering to Your Trading Plan
A well-crafted trading plan outlines your strategies, risk management techniques, and criteria for entering and exiting trades. Discipline ensures that you stick to this plan, rather than deviating based on emotions or fleeting market trends.
For Swing Traders:
Stick to your long-term strategies. Resist the temptation to alter your plan based on daily market noise. For instance, if your plan dictates holding a position for two weeks, avoid the urge to exit prematurely due to minor market movements.
For Day Traders:
Follow your short-term strategies meticulously. Adhere to your predefined entry and exit points, even when the market is volatile. This consistency helps in minimizing impulsive trades driven by emotional reactions.
2. Consistent Execution
Consistency is paramount in trading. This means executing trades based on predetermined criteria, regardless of external factors or internal emotional states.
For Swing Traders:
Consistently apply your analysis and follow through with your trades. Whether you’re trading stocks, commodities, or cryptocurrencies, ensure that each trade aligns with your long-term strategy.
For Day Traders:
Execute your trades with precision and timing. Consistent execution reduces the risk of errors and helps in maintaining a disciplined approach amidst rapid market changes.
3. Risk Management
Discipline involves managing your risk effectively. This includes setting stop-loss orders, limiting the size of your trades, and ensuring that no single trade can significantly impact your overall portfolio.
For Swing Traders:
Implement risk management strategies that protect your capital over the long term. Diversify your investments across different financial instruments to mitigate risks.
For Day Traders:
Use strict risk management techniques to handle the high-frequency nature of day trading. Limit your exposure per trade and use tools like trailing stops to protect your profits.
4. Emotional Control
Maintaining emotional equilibrium is essential. Whether you’re a swing trader dealing with overnight market changes or a day trader handling rapid price movements, controlling emotions like fear and greed is crucial for making rational decisions.
For Swing Traders:
Develop patience and resilience to withstand market volatility. Avoid making decisions based on temporary market sentiments.
For Day Traders:
Stay calm during fast-paced trading sessions. Use techniques like deep breathing or short breaks to manage stress and maintain focus.
How Do Emotions Affect Trading Decisions?
Trading systems are invaluable because they lay out clear entry and exit points, helping you bypass personal biases that can creep into your decision-making process. However, the real challenge lies in sticking to that system, as emotions and logic often intertwine. When you’re operating in markets worth trillions of dollars daily, emotions can significantly disrupt your decision-making.
Reflecting on past trades, it becomes evident that feelings like anger or being entangled in long-term relationships can lead to decisions you’ll regret later. Therefore, emotional awareness is paramount for effective trading. Recognizing and managing your emotions ensures that your decisions are based on strategy rather than impulse.
For Swing Traders:
Emotional control helps in maintaining a long-term perspective. It prevents you from making hasty decisions based on short-term market fluctuations or external stressors.
For Day Traders:
Managing emotions is crucial for making swift and rational decisions. It prevents you from overreacting to sudden market movements or news events.
How Can You Trade Without Emotions?
To achieve success in trading, it’s imperative to keep your emotions in check. Trading based on feelings can lead to consistent losses that no one desires. Here’s how you can trade more rationally:
1. Record Every Trade
Documenting each trade provides valuable insights and emphasizes the need for a solid system over mere gut instincts.
For Swing Traders:
Maintain a trading journal that records the rationale behind each long-term trade, the market conditions at the time, and the outcomes. This helps in identifying patterns and improving your strategies over time.
For Day Traders:
Keep detailed records of each intraday trade, including entry and exit points, the emotions you felt, and the results. Analyzing these records can help in refining your trading tactics and emotional control.
2. Adopt a Military Mindset
Just like military strategists make tough calls by focusing on logic and strategy, traders should ditch emotions and rely on their plans.
For Swing Traders:
Approach your trading with the same discipline and strategic thinking as a military operation. Stick to your long-term plans and adjust based on thorough analysis rather than emotional impulses.
For Day Traders:
Implement disciplined routines and systematic approaches to your trading sessions. Rely on predefined strategies and avoid making spontaneous decisions based on fleeting emotions or instincts.
3. Develop a Solid Trading Plan
A well-structured plan acts as your roadmap, guiding you through market fluctuations without emotional interference.
For Swing Traders:
Your trading plan should include your long-term goals, risk tolerance, diversification strategies, and criteria for entering and exiting trades. Regularly review and adjust your plan based on market changes and your evolving objectives.
For Day Traders:
Your plan should outline your daily trading strategies, risk management rules, and specific entry and exit points. Consistently follow this plan to maintain a disciplined approach.
4. Embrace Losses as Learning Opportunities
Every loss is a step towards mastery. Analyze your mistakes, understand what went wrong, and adjust your strategies accordingly. This mindset transforms setbacks into valuable lessons.
For Swing Traders:
Use long-term losses as opportunities to refine your investment strategies and improve your market analysis techniques.
For Day Traders:
Treat each loss as a lesson in emotional control and strategic improvement. Adjust your day trading tactics to minimize future losses.
5. Practice Mindfulness and Emotional Control
Techniques such as meditation or journaling can help you stay grounded and manage emotions effectively. Maintaining emotional balance is crucial for making rational trading decisions.
For Swing Traders:
Incorporate mindfulness practices into your daily routine to maintain a calm and focused mindset, essential for long-term trading success.
For Day Traders:
Use short meditation sessions or deep breathing exercises during breaks to manage stress and maintain clarity during intense trading periods.
6. Seek Support
Engage with a community of traders or seek mentorship from experienced professionals. Sharing experiences and gaining insights can provide encouragement and reduce feelings of isolation.
For Swing Traders:
Join long-term investment forums or groups where you can discuss strategies and share experiences with like-minded traders.
For Day Traders:
Participate in day trading communities or mentorship programs that offer real-time support and feedback on your trading practices.
How Can Trader Discipline Improve Outcomes?
Traders often trip up because they lack that crucial discipline, especially when they can’t resist checking their trades throughout the day.
1. Ignore Intraday Movements
The best approach? Just ignore those intraday movements! If you didn’t peek at your trades at all, the smart move would have been to simply do nothing.
For Swing Traders:
Avoid monitoring your trades excessively. Trust your long-term strategies and let your positions develop over days or weeks without constant interference.
For Day Traders:
Limit the number of times you check your trades to maintain focus and reduce the temptation to make impulsive adjustments based on emotional reactions.
2. Avoid Mobile App Temptations
Sure, many folks use mobile apps to keep an eye on their trades, but that constant monitoring can really mess with the market’s natural flow.
For Swing Traders:
Set specific times to review your positions rather than checking them sporadically throughout the day. This helps in maintaining a consistent and disciplined approach.
For Day Traders:
Use trading platforms that allow you to set alerts rather than constantly monitoring your trades. This way, you stay informed without becoming overwhelmed by every minor market movement.
3. Step Back for Better Results
It might seem a bit odd, but taking a step back can actually set you up for better trading results in the long run.
For Swing Traders:
Allow your trades the necessary time to develop. Overanalyzing or frequently adjusting your positions can lead to unnecessary losses and disrupt your long-term strategy.
For Day Traders:
Implement strict entry and exit times. This prevents you from getting caught up in the heat of the moment and helps maintain a disciplined trading routine.
How Can You Avoid Trading Decision Interference?
If you want to keep your trading decisions intact, a good tip is to stop checking your trades all the time. Frequent checks can totally mess with your judgment and lead to impulsive choices.
1. Establish a Routine
Create a consistent schedule for reviewing your trades to prevent constant monitoring.
For Swing Traders:
Review your trades at the end of each week or after a set period. This allows you to assess performance without the distraction of daily fluctuations.
For Day Traders:
Set specific times during the trading day to review your positions. Avoid the temptation to check your trades outside these designated times.
2. Limit Trade Monitoring
Define how often you’ll check your trades and stick to it.
For Swing Traders:
Avoid the urge to check your trades multiple times a day. Trust in your analysis and give your trades the time they need to play out.
For Day Traders:
Use automated alerts to notify you of significant market movements instead of manually checking your trades constantly.
3. Resist the Urge to Chase Losses
One of the biggest pitfalls in trading is the temptation to make larger trades to recover losses quickly.
For Swing Traders:
Stick to your risk management rules. Avoid increasing your trade sizes impulsively to recover from losses.
For Day Traders:
Maintain strict discipline in your trading plan. Don’t let a series of losses push you into making larger, riskier trades that can exacerbate your situation.
Why Avoid Overcompensating in Trading?
If you’re feeling down about your trading account, it’s super tempting to try and make up for those losses by jumping into bigger trades. But here’s the kicker: that can really set off a downward spiral that might just drain your account.
1. Stick to Your Trading Plan
Avoid the urge to deviate from your established trading plan in an attempt to recover losses quickly.
For Swing Traders:
Maintain your long-term strategies even after experiencing losses. Overcompensating by increasing trade sizes or altering strategies can lead to further losses.
For Day Traders:
Follow your predefined trading rules without exception. Overcompensating by making larger trades to recover losses can result in significant account depletion.
2. Implement Solid Money Management Skills
Develop and adhere to robust money management techniques to keep your trading in check.
For Swing Traders:
Diversify your portfolio to spread risk and avoid overexposure to any single financial instrument.
For Day Traders:
Use position sizing strategies to manage your risk per trade effectively. This ensures that no single trade can significantly impact your overall portfolio.
3. Recognize the Natural Recovery Process
Understand that recovery from losses takes time and patience. Overcompensating can disrupt this process and lead to more harm than good.
For Swing Traders:
Allow your trades the necessary time to recover without interference. Trust in your analysis and strategy to guide you back to profitability.
For Day Traders:
Accept that losses are part of the trading journey. Focus on learning from each loss and improving your strategies rather than trying to recover quickly through larger trades.
How Do You Manage Panic in Trading?
Panic can seriously mess with your trading game, leading you to make some pretty poor decisions. That’s why it’s usually a good idea to avoid obsessing over intraday trades. Instead, take a step back and evaluate the market the next day.
1. Accept Drawdowns as Normal
Understand that drawdowns are a natural part of trading and occur with nearly every trade.
For Swing Traders:
Recognize that holding positions over longer periods can lead to natural market fluctuations. Maintain a long-term perspective and avoid reacting impulsively to temporary losses.
For Day Traders:
Accept that intraday volatility is inevitable. Focus on executing your trading plan consistently rather than getting swayed by short-term market movements.
2. Train Yourself to Stay Calm
Develop strategies to maintain your composure during market downturns.
For Swing Traders:
Practice mindfulness techniques or meditation to help manage stress and maintain focus during market volatility.
For Day Traders:
Use short breaks and stress management techniques to stay calm and avoid panic-driven decisions during high-pressure trading sessions.
3. Avoid Impulsive Decisions
Don’t let panic drive your trading decisions. Instead, stick to your trading plan and make rational choices based on your strategy.
For Swing Traders:
If a trade moves against you, refer back to your trading plan instead of making spontaneous adjustments based on fear.
For Day Traders:
Implement strict stop-loss orders and predefined exit points to minimize the impact of panic-driven decisions.
Why Play the Long Game in Trading?
If you want to nail trading, it’s super important to think long-term instead of just chasing quick wins. This channel really pushes the idea of building a solid trading system; so if you’re into quick fixes, it might be time to look elsewhere.
1. Build a Solid Trading System
Develop a robust trading system that can withstand the test of time and varying market conditions.
For Swing Traders:
Create a comprehensive trading plan that includes long-term strategies, risk management techniques, and criteria for entering and exiting trades.
For Day Traders:
Develop a disciplined trading routine with clear rules for executing trades, managing risk, and reviewing performance.
2. Consistent Strategy Execution
Stick to your system and ensure that all your indicators are in sync before diving into a trade.
For Swing Traders:
Avoid making spontaneous changes to your strategy based on short-term market noise. Trust in your long-term analysis and stick to your plan.
For Day Traders:
Follow your trading rules meticulously, ensuring that each trade is executed based on your predefined criteria.
3. Manage Emotions and Stay Focused
Keep your emotions in check to maintain clarity and avoid hasty choices that can derail your trading success.
For Swing Traders:
Maintain a calm and focused mindset, allowing your trading system to guide your decisions without emotional interference.
For Day Traders:
Use techniques like deep breathing or short meditation sessions to manage stress and stay focused during intense trading periods.
Why is Follow-Up Crucial in Boxing?
In boxing, taking a shot is a lot like deciding to exit a trade early—there’s a fine line between celebrating success and letting it slip away. The term ‘follow-up’ is all about landing that great punch and then following it up with more action. Sure, it’s enticing to soak in the glory of a well-placed hit, but if you don’t have a game plan to keep going, you’re missing the point. Standing around, admiring your blow, can lead to a coach’s disapproval for not following through. So, always remember: in the ring, staying active and aggressive is key!
1. Execute Your Trading Plan Fully
Just like a boxer follows up a successful punch, you should fully execute your trading plan after a successful trade.
For Swing Traders:
After a profitable trade, review your strategy to understand what worked and ensure that similar strategies are applied consistently in future trades.
For Day Traders:
Following up a successful trade involves documenting the trade, analyzing what led to the success, and reinforcing the strategies that worked.
2. Maintain Momentum
Don’t let a single success lead to complacency. Keep your momentum by continuously seeking out new opportunities and refining your strategies.
For Swing Traders:
Stay engaged with the markets by regularly reviewing your positions and staying updated with financial news and trends.
For Day Traders:
Use successful trades as motivation to maintain your disciplined approach, ensuring that each trade aligns with your established strategies.
3. Avoid Overconfidence
While celebrating success is important, avoid letting it lead to overconfidence. Stay grounded and continue to adhere to your trading plan.
For Swing Traders:
Recognize that market conditions can change, and maintain a humble approach to your trading strategies.
For Day Traders:
Stay disciplined and avoid making impulsive trades based on temporary feelings of success.
How Can You Achieve Trading Success?
If you want to achieve the best results over the next year, the first step is kicking bad discipline to the curb. You really need to set up a solid system and stick to it—jumping into trades based on your emotions can totally sabotage your success. And let’s face it, relying on your feelings instead of a structured plan often leads to losses, no matter how many short-term wins you might score. This channel offers some awesome insights that can turn your trading game around, so definitely think about subscribing for some great tips. Remember, building discipline in your trading is key to keeping that success rolling in.
1. Set Up a Solid Trading System
Develop a comprehensive trading system that includes your strategies, risk management rules, and criteria for entering and exiting trades.
For Swing Traders:
Your system should accommodate longer-term trends and include strategies for managing trades over extended periods.
For Day Traders:
Focus on creating a system that can handle the rapid pace of day trading, with clear rules for quick decision-making and risk management.
2. Stick to Your System
Consistency is crucial. Avoid deviating from your system based on emotions or short-term market movements.
For Swing Traders:
Trust in your long-term analysis and remain patient, allowing your trades to develop as per your plan.
For Day Traders:
Adhere strictly to your trading rules, ensuring that each trade is executed based on your predefined criteria.
3. Emphasize Money Management
Effective money management is the backbone of trading discipline. Protect your capital and manage your risk carefully.
For Swing Traders:
Diversify your portfolio and limit the amount you invest in any single trade to mitigate risk.
For Day Traders:
Use position sizing strategies and set strict stop-loss orders to control potential losses.
4. Continuously Improve Your Skills
Stay committed to learning and improving your trading skills. This ongoing education will help you adapt to changing market conditions and refine your strategies.
For Swing Traders:
Engage in long-term learning through courses, books, and mentorship programs that focus on comprehensive market analysis.
For Day Traders:
Continuously seek out new strategies and techniques that can enhance your ability to make quick, informed decisions.
5. Monitor Your Performance
Regularly review your trading performance to identify strengths and areas for improvement.
For Swing Traders:
Analyze your long-term trades to understand what worked and what didn’t, adjusting your strategies accordingly.
For Day Traders:
Keep detailed records of your day trades to identify patterns and refine your approach based on your performance data.
Conclusion: Embrace Discipline to Transform Your Trading Journey
Discipline is more than just following a set of rules—it’s about cultivating a mindset that prioritizes consistency, reliability, and resilience. By embracing discipline, you empower yourself to navigate the complexities of all financial markets with confidence and determination.
In Lesson 3, we’ve explored the significance of discipline, how to overcome emotional interference, and the importance of a structured trading system. These elements are essential for building a strong foundation and achieving consistent profitability across all financial markets, whether you’re a swing trader or a day trader.
Next Lesson: Handling Losing Streaks – Embrace Discipline for Long-Term Success
Stay tuned for Lesson 4, where we’ll delve into How to deal with loss. Learn how to cultivate patience to make informed decisions, wait for optimal trading opportunities, and maintain a calm and focused mindset, regardless of market conditions.
Hercules Trading Psychology Course is designed to equip you with the mental tools necessary to thrive in all financial markets. By mastering traits like Initiative, Discipline, and Patience, you’ll build a resilient mindset that can withstand the challenges of trading and lead you to sustained profitability.
Here’s to your growth and success as a trader across all financial markets!
AMD: Close to giving the signal for mega buy to $295.Advanced Micro Devices is about to test the 1D MA200 on very healthy bullish technicals on the 1D timeframe (RSI = 60.924, MACD = 3.070, ADX = 28.078). This chart is on the 1W timeframe which is still neutral (RSI = 52.205, MACD = -1.400, ADX = 23.295), meaning that if the 1D MA200 breaks, the market would still be significantly undervalued with strong upside potential. As shown the long term pattern is a Channel Up, with the Fibonacci levels explaining pressure zones. The two bullish waves of the Channel have remarkably been of the exact same rise (+143.89%). If the once that will be validated by the 1D MA200 crossing posts the same rally, we expect the 0.786 Fib Channel level to be reached and we will set our target accordingly.(TP = 295.00).
Perhaps the strongest reason to buy for the long term right now is the Bullish Cross on the 1W MACD (seen on the pane below the chart). This has been formed exactly on the two prior bottoms of the Channel on November 6th 2023 and November 14th 2022. Combined with the 1D MA200 breakout, this MACD formation is the mega buy signal we've been waiting for.
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AMAZON STRONG BREAKOUT|LONG|
✅AMAZON is trading in an
Uptrend and the stock broke
The key horizontal level
Of 190.96$ so we are
Bullish biased and after a
Local pullback we will be
Expecting a further move up
LONG🚀
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Top 5 Books Every Trader Should Have on Their ShelfLet’s face it: there is more to trading than blindly smashing the buy and sell button after you’ve picked up the latest buzz on Reddit’s messaging boards. What’s happening between your ears is just as important as what’s happening on your charts. And sometimes, it might as well help you make sense of it all. So, where do you start if you want to sharpen your edge?
Books . Real, old-fashioned, mind-expanding books. The kind of reads that will school you in both the mechanics and mindset of trading. Forget the social media noise—we’re listing five books that will hand you the wisdom, strategies and mental toughness you need to not just survive but thrive in the seemingly chaotic world of markets. Let’s get into it.
📖 1. Reminiscences of a Stock Operator
✍️ by Edwin Lefèvre
🧐 What’s it about : This is the OG of trading books. A classic that was first published in 1923, it follows the life of the legendary trader Jesse Livermore, who made and lost millions more times than most traders have had profitable months. It's less of a step-by-step guide and more of a philosophical deep dive into what drives traders to win, lose, and repeat the cycle.
💡 What’s the takeaway : You’ll find yourself nodding along, thinking, “Yep, been there” every few chapters. And trust us, Livermore’s lessons on greed, fear and market timing are still as relevant today as they were a century ago.
📖 2. Trading in the Zone
✍️ by Mark Douglas
🧐 What’s it about : If there’s one book that will help you stop blowing up your account because you’re caught in emotional trades, this is it. Mark Douglas breaks down the psychological barriers traders face and teaches you how to think in probabilities. Spoiler alert: The market owes you nothing. Douglas teaches you how to embrace the uncertainty of trading and act probabilistically—playing the odds, not emotions.
💡 What’s the takeaway : If you're constantly getting blindsided by your feelings, there is a high probability that this book will snap you out of that spiral and teach you how to approach the market with a level head.
📖 3. Market Wizards
✍️ by Jack D. Schwager
🧐 What’s it about : Ever wish you could pick the brains of the world’s greatest traders? Jack Schwager did it for you. This book is essentially a collection of interviews with the top traders of the 80s (think Paul Tudor Jones, Bruce Kovner, and Richard Dennis). Schwager’s interviewing style makes it feel like you’re sitting in on private conversations, absorbing their secrets, strategies and market philosophies.
💡 What’s the takeaway : There’s no single “right way” to trade. Whether you're a scalper or a trend follower, you’ll find someone here who matches your vibe. Plus, these stories prove that anyone—from a college dropout to a former blackjack player—can conquer the market with the right mindset and persistence.
📖 4. Technical Analysis of Stock Trends
✍️ by Robert D. Edwards and John Magee
🧐 What’s it about : If you’re serious about technical analysis, this is the trading bible. Originally published in 1948, this book largely introduced the world to concepts like trend lines , support and resistance , head-and-shoulders patterns , and much more. Edwards and Magee laid the foundation for almost every technical analysis tool you see around today.
💡 What’s the takeaway : This gem will teach you how to recognize trend changes, continuation patterns, and reversal signals that can sharpen your trading entries and exits.
📖 5. The Alchemy of Finance
✍️ by George Soros
🧐 What’s it about : If you want to understand not only how to trade but also how the world of finance operates, this is the book. Written by one of the most successful (and controversial) investors and currency speculators of all time, George Soros, The Alchemy of Finance is part autobiography, part deep dive into Soros' legendary "reflexivity" theory. It's not just about looking at price action—it's about understanding how traders' perceptions affect markets, often driving them in irrational directions.
💡 What’s the takeaway : Soros teaches you to think bigger than charts and numbers—to anticipate shifts in market psychology and position yourself accordingly.
Wrapping Up
You can binge all the videos, tutorials and online courses you want, but nothing beats the distilled wisdom found in a great trading book. These five reads are the perfect balance of trading psychology, real-life stories, and technical analysis insights that will help you become a better, more knowledgeable trader.
Bonus tip : if you start now, you’ve got a couple of months until Thanksgiving when you can brag about how many pages you read.
📚 Additional Picks for the Avid Trader
If you’re hungry for more insight, we’ve got a few additional picks for you. Of course, they offer a wealth of knowledge from market titans and cautionary tales from the trading trenches:
📖 More Money Than God by Sebastian Mallaby
A brilliant history of the hedge fund industry, revealing the strategies and personalities behind some of the greatest trades ever made—and showing you how the masters manage risk and opportunity.
📖 When Genius Failed by Roger Lowenstein
A cautionary tale of Long-Term Capital Management, the "genius" hedge fund that imploded in spectacular fashion. Learn what happens when ego and leverage collide in the financial world.
📖 The Man Who Solved the Market by Gregory Zuckerman
This is the story of Jim Simons and his secretive firm, Renaissance Technologies, which revolutionized trading with quantitative models. It’s a must-read for anyone intrigued by the world of algorithmic trading.
📖 Big Mistakes by Michael Batnick
Everyone makes mistakes—especially traders. This book dives into the biggest blunders made by history’s top investors and traders, showing you that even the greats are human—and how to avoid repeating their costly errors.
📖 Confusion de Confusiones by Joseph de la Vega
Originally written in 1688, this is one of the first books ever on trading (to many, the first ever), set during the time of the Dutch stock market bubble. It may be old but its lessons on speculation, greed and market psychology are as timeless as they come.
🙋♂️ What's your favorite book on trading and did it make our list? Comment below! 👇
RBA can shine if people dine at Burger KingRestaurant Brands Asia Ltd. engages in the management of restaurants. It offers burgers, breakfast, cravers, beverages, and desserts.
Restaurant Brands Asia Ltd. CMP is 112.99. The positive aspects of the company are Company with Low Debt, Company with Zero Promoter Pledge, MFs increased their shareholding last quarter, Strong cash generating ability from core business - Improving Cash Flow from operation, Growth in Net Profit with increasing Profit Margin and Strong Momentum: Price above short, medium and long term moving averages. The Negative aspects of the company are negative Valuation (P.E. = -26), Stocks Underperforming their Industry Price Change in the Quarter, Book Value Per Share deteriorating for last 2 years and Inefficient use of shareholder funds.
Entry can be taken after closing above 114 Targets in the stock will be 117, 119 and 123. The long-term target in the stock will be 127 and 133. Stop loss in the stock should be maintained at Closing below 103 or 98 depending on your risk taking ability.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Canara Bank can become a cool Investment. Canara Bank engages in the provision of commercial banking and financial services. It operates through the following segments: Treasury, Corporate or Wholesale Banking, Retail Banking, and Other Banking Business.
Canara Bank CMP is 109.30. The positive aspects of the company are cheap Valuation (P.E. = 6.3), Company with Zero Promoter Pledge, Mutual Funds Increased Shareholding over the Past Two Months, Dividend yield greater than sector dividend yield, Annual Profit Growth higher than Sector Profit Growth and Rising Net Cash Flow and Cash from Operating activity. The Negative aspects of the company are High Interest Payments Compared to Earnings, Stocks Underperforming their Industry Price Change in the Quarter and MFs decreased their shareholding last quarter.
Entry can be taken after closing above 109.75. Targets in the stock will be 113, 117 and 122. The long-term target in the stock will be 124 and 129. Stop loss in the stock should be maintained at Closing below 100.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NVDIA: Neutral but ready to breakout aggressively to the upside.NVDIA is neutral on its 1D technical outlook (RSI = 49.101, MACD = -0.300, ADX = 35.106) as it is trading exactly on its 1D MA50. The long term pattern has been a Channel Up for the past two years and having touched its bottom on the August low, we expect the price to have broken upwards within 3 weeks. The early signal for that will be the RSI crossing overs its LH trendline. TP = $230.00
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Intapp (INTA) AnalysisCompany Overview: Intapp NASDAQ:INTA is making strides in AI-powered solutions, with its partnership with Monarch acting as a key driver for improving operational efficiency and broadening its market reach. CEO John Hall has been vocal about the transformative role of AI in the company's strategy, positioning fiscal 2024 as a year of strong AI adoption. This could open up new avenues for growth, particularly in sectors that prioritize technological advancements in workflow and decision-making processes.
Key Catalysts:
Revenue Growth: In Q2, Intapp reported $114 million in revenue, reflecting a 21% year-over-year increase, which outperformed expectations and underscored the company’s solid growth momentum.
AI Integration: The strategic focus on AI development and partnerships, like the one with Monarch, is expected to enhance efficiency and drive client demand, particularly as AI becomes more ingrained in professional services and consulting sectors.
Market Expansion: Intapp’s ability to grow its market presence through AI innovations and its tailored solutions for sectors like legal, accounting, and financial services strengthens its competitive edge.
Investment Outlook: Bullish Outlook: We are bullish on INTA above $40.00-$41.00, viewing the stock as well-positioned for long-term growth, particularly as AI adoption increases across industries. Upside Potential: The upside target for INTA is set at $62.00-$63.00, supported by strong revenue growth and strategic initiatives in AI.
💡 INTA—Empowering the Future of Professional Services Through AI. #AIInnovation #RevenueGrowth #TechLeadership
LTIM LONG BUY TRADE IDEALTIM long trade idea
buy signal/call
1. stock have completed a cup & handle kind of pattern
2. consolidation of considerable time period happend at this breakout level
3. us fed cut will benefit this stock
4. strong fundamentals
5. big investors with healthy holdings
buy @ 6450 SL @ 6200-6300 target 1 - @7000 target 2nd @7500 target 3 @ 8000 target 4 @ 8500
time period - around coming 3-9 months
NSE:LTIM
TOP 20 TRADING PATTERNS [cheat sheet]Hey here is Technical Patterns cheat sheet for traders.
🖨 Every trader must print this cheatsheet and keep it on the desk 👍
🖼 Printable picture below (Right click > Save Image As…)
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.
Behavioral economics and quantitative analysis use many of the same tools of technical analysis, which, being an aspect of active management, stands in contradiction to much of modern portfolio theory. The efficacy of both technical and fundamental analysis is disputed by the efficient-market hypothesis, which states that stock market prices are essentially unpredictable, and research on whether technical analysis offers any benefit has produced mixed results. As such it has been described by many academics as pseudoscience.
Fundamental analysts examine earnings, dividends, assets, quality, ratio, new products, research and the like. Technicians employ many methods, tools and techniques as well, one of which is the use of charts. Using charts, technical analysts seek to identify price patterns and market trends in financial markets and attempt to exploit those patterns.
Technicians using charts search for archetypal price chart patterns, such as the well-known head and shoulders or double top/bottom reversal patterns, study technical indicators, moving averages and look for forms such as lines of support, resistance, channels and more obscure formations such as flags, pennants, balance days and cup and handle patterns.
Technical analysts also widely use market indicators of many sorts, some of which are mathematical transformations of price, often including up and down volume, advance/decline data and other inputs. These indicators are used to help assess whether an asset is trending, and if it is, the probability of its direction and of continuation. Technicians also look for relationships between price/volume indices and market indicators. Examples include the moving average, relative strength index and MACD. Other avenues of study include correlations between changes in Options (implied volatility) and put/call ratios with price. Also important are sentiment indicators such as Put/Call ratios, bull/bear ratios, short interest, Implied Volatility, etc.
There are many techniques in technical analysis. Adherents of different techniques (for example: Candlestick analysis, the oldest form of technical analysis developed by a Japanese grain trader; Harmonics; Dow theory; and Elliott wave theory) may ignore the other approaches, yet many traders combine elements from more than one technique. Some technical analysts use subjective judgment to decide which pattern(s) a particular instrument reflects at a given time and what the interpretation of that pattern should be. Others employ a strictly mechanical or systematic approach to pattern identification and interpretation.
Contrasting with technical analysis is fundamental analysis, the study of economic factors that influence the way investors price financial markets. Technical analysis holds that prices already reflect all the underlying fundamental factors. Uncovering the trends is what technical indicators are designed to do, although neither technical nor fundamental indicators are perfect. Some traders use technical or fundamental analysis exclusively, while others use both types to make trading decisions.
Best regards
Artem Shevelev
WIG - Resistance becomes supportGreetings to you all! I decided to mix journalism and technical analysis in this post. I will describe the last 20 years of price action in Warsaw Stock Exchange Index (WIG), laying out the market structure and how it was shaped by key geopolitical events. Keep reading till the end, because the key message is that decade-long resistance level might have become a support zone, and Polish stock prices could be well-positioned for future growth.
Warsaw Stock Exchange Index (WIG) has declined during 2008 financial crisis, after reaching all time high of 67,772 PLN. This price level created a resistance that scared off any early advances and pushed away subsequent rallies. 2017 and 2021 brought 2 attempts that failed to break above the resistance. The first rally did not quite have the momentum required to push the price higher, and the buying power vanished over the next 2 years. 2020 brought crisis and a steep decline in price, which was followed by a quick recovery through 2021. Price managed to close above ATH during July - December period of 2021, but it was short lived. Rising interest rates in 2022 and high inflation growth over the last 12 months resumed the pessimistic tone markets have followed in the aftermath of the covid pandemic, resulting in price falling back below the resistance, which remained intact at 65K - 75K PLN level.
It is important to mention that 2021 rally changed the character (CoC) of the established market structure post 2008 crisis, because price closed above ATH and set a higher high. Now, if I consider a local market structure of 2020 - 2024, I can clearly see a basic uptrend pattern of Higher High > Higher Low > Higher High, which is confirmed by both MACD and RSI indicators on monthly chart. Collectively, the 2020-2024 price impulse broke above the decade long resistance, which may now act as support, but, if you're a careful observer, you would notice that this happened as well in 2021. Why this time is different? Because consider the broader economic context, and you'll also notice that in 2024 inflation is seemingly under control (though above the target rates). Moreover, central banks kept the interest rates pretty much flat in 2022, and some even proceeded to cut them, lifting capital restraints affecting companies.
Hence, overall picture for WIG looks quite optimistic. It gained 27% in the last 12 months, broke above strong resistance, and it did so by establishing an uptrend price impulse. Meanwhile, Polish currency appreciated by ~5% against dollar and rose to #6 economy in Europe as of 2023. It grew twice as fast as top 5 economies both in 2023 YoY and during 2020 - 2023 period. I guess I will add some WIG to my portfolio, it looks good to me. But you decide for yourself, I'm not a financial advisor and this is not a financial advice. Thanks for reading this post.
S&P 500 Daily Chart Analysis For Week of Sep 20, 2024Technical Analysis and Outlook:
In the current week's trading sessions, the S&P 500 Index has demonstrated significant fluctuations, breaching the Mean Resistance level of 5648 and attaining the Inner Index Rally level of 5666 and the Key Resistance level of 5667. The index is on the verge of achieving the targeted Inner Index Rally at 5739. Yet, a potential retraction to 5620 in the upcoming week's session, with the prospect of further descent to the subsequent Mean Support indicated at 5552, could disrupt this progression. Conversely, an expected downward trend may be intercepted by the realization of a robust rebound to the Inner Index Rally at 5739, negating the anticipated decline.
Airbnb (ABNB): Holding the line, but for how long?!After charting Airbnb one month ago, we’ve seen another slight dip, and one of our members rightly pointed out that Airbnb has reacted well to the $113.60 price level. This level has acted as support for the fourth time now, and it seems like it could hold. However, t here’s a big BUT —we’re not placing an entry just yet. Trying to catch the exact bottom of Wave 1 can be risky and extremely difficult. Instead, we are more focused on waiting for a possible short opportunity if Airbnb rises again.
Airbnb continues to struggle, and we don't want to catch this falling knife too early, risking unnecessary losses. We’ll keep monitoring the situation closely, and if we gain more confidence that this is indeed the end of Wave 1, we’ll let you know. 🫡
NIO (NIO): 55% Increase but Bearish Trends Still LoomA while back, we analyzed NIO, and recently, we’ve seen a considerable 55% increase in the stock price. However, despite this rise, nothing truly convinces us that this bearish trend has ended or that a sustainable upward movement is underway.
The critical factor here is that none of the key levels that need to be breached for a trend reversal have been crossed. Specifically, we’re looking at the current Wave ((iv)) level around $6.04. If this level isn’t breached, it’s likely that we could see further declines, possibly dipping into the $2.99 range—or even lower, potentially as far as $1. It may seem dramatic, but considering NIO has already dropped up to 62% since January, repeating such a decline isn’t out of the question.
In conclusion, the market remains quite weak, and we’re still cautious about the possibility of more significant setbacks. Always remember, it’s okay to stay on the sidelines and not invest in everything that catches your eye. 🤝
PROCTER & GAMBLE is bullish bouncing on the 1D MA50.Procter and Gamble (PG) closed yesterday on a 3-day red streak and the 1D candle almost touched the 1D MA50 (blue trend-line), the short-term Support, which is intact since August 14. The stock has been trading within a Channel Up pattern since the December 15 2023 Low, which is inside a wider Channel Up pattern since the 2022 market bottom.
The 1D MA50 is the first Support level of the 9-month Channel Up, with the 1D MA200 (orange trend-line) being the second (and last). The Higher Lows are priced below the 1D MA50 but currently we haven't completed most likely the Bullish Leg at hand.
Last April the price pulled back to the 0.382 Fib, which held and provided the final push to the -0.236 Fib extension for a Higher High. Currently the 1D MA50 test is also testing the 0.382. If it holds, we expect the stock to peak again near the -0.236 Fib extension. As long as it holds then, we remain bullish, targeting 182.00.
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FED Cutting Interest Rates Is NOT BullishAs of this week the FED has announced that they will be slashing the FED funds rates by 50bps (0.50%). Contrary to popular belief, this is not necessarily bullish. Actually, the last three times that they did it was an indicator that a bear market was coming.
As seen on the lower chart, once the FED cuts the rates, it has often signaled a stock market crash in the not so distant future.
Do you think a stock market crash is coming? Share your thoughts🙏
Telephone and Data Systems (TDS) Analysis Company Overview: Telephone and Data Systems NYSE:TDS is actively expanding its fiber and broadband infrastructure, positioning itself for future growth in a high-demand sector. The company’s recent investments are paying off, with steady growth in its service addresses and strong financial performance.
Key Catalysts:
Fiber Expansion: TDS added 28,000 marketable fiber addresses in Q1 2024, increasing its fiber footprint significantly. The company has grown its service addresses by 12% year-over-year, reaching 1.7 million addresses, a key driver of its future revenue growth.
CEO Confidence: CEO Leroy Carlson has expressed optimism regarding TDS’s growth prospects, particularly emphasizing the company's strategic investments in broadband infrastructure.
Financial Performance: In Q2, TDS demonstrated strong financial health, with ARPU (Average Revenue Per User) growth, better cost management, and higher free cash flow, all of which enhance its earnings potential in the coming quarters.
Investment Outlook: Bullish Outlook: We are bullish on TDS above the $19.00-$20.00 range. Upside Potential: The upside target for TDS is set at $30.00-$31.00, driven by its expanding fiber infrastructure, solid financial performance, and the strategic broadband investments that position the company for long-term growth.
📡 TDS—Leading the Fiber and Broadband Revolution. #FiberExpansion #BroadbandGrowth #TDSInvestments 💡
MASTERCARD short-term weakness is a buy opportunity. Target $515Mastercard (MA) gave us an excellent sell signal on our last call (April 02, see chart below), reaching our exact Target ($440.00) before turning sideways and reach this way a Higher Low:
That Higher Low was a bottom on the 2-year Channel Up pattern that has been dominating the long-term price action of the stock. As you can see it hit the 1D MA200 (orange trend-line) and the 0.382 Fibonacci retracement level and has rebounded since, which is similar to the March 16 2023 Low.
The similarities are evident on this chart between the Bullish and Bearish Legs of the Channel Up and the Sine Waves help at giving us a sense of Highs and Lows. The 1D RSI sequences between the two main fractals are also similar and this shows that probably we are at a similar symmetrical level as on July 14 2023.
As a result, we expect a short-term pull-back towards the 1D MA50 (blue trend-line) and then final rally towards the elections for a Higher High around $515.00, which will be just below the -0.236 Fibonacci extension (similar to the September 14 2023 High). Then we expect the stock to yet again seek the bottom of the Channel Up near the 1W MA100 (red trend-line) at $460.00.
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The Global Liquidity Index is looking very interesting here.The GLI is looking very interesting at these levels. It's currently bouncing around within the Fibonacci retracement levels shown. Stocks and crypto usually perform better during times of increased liquidity for obvious reasons. Now that we are heading into a period where central banks around the world are propping up markets with freshly printed cash, we may see this index set a new high, which will be good for asset prices overall.
Good luck, and always use a stop loss!
