How I identify the best forex pairs to trade:Here is how I identify the best forex pairs to trade:
In the top left panel, the indicator 'Compare Forex' displays the PERFORMANCE of each major currency.
The USD (red line) has been the strongest currency for the past 2 months on H6 charts.
By identifying the strongest currency, all that remains is to trade the USD against all the other currencies since they are weaker.
= Smooth stress-free charts.
I look at my trades 2-3 times a day to see if they are still blue or red. Takes a few minutes.
Stressfree
FOMO in Crypto: The Art of Embracing Market Fear 🚀📉Hello, crypto aficionados! 🌟 Today, let's explore a sentiment that's ever so present in the world of cryptocurrencies – FOMO, the Fear of Missing Out. We'll discuss why it's wise to patiently await moments of market fear and uncertainty before making your move.
📈 FOMO and Crypto: The Fear of Missing Out often grips investors when they see crypto prices skyrocketing. It's that nagging feeling that if you don't buy in now, you'll miss out on massive gains.
📉 The Fear Factor: What's fascinating is that FOMO is often followed by its counterpart – fear. When prices dip, market sentiment can quickly shift from euphoria to anxiety.
💡 The Wise Approach: Seasoned investors know that patience is a virtue in the crypto world. Instead of succumbing to FOMO, they watch for moments when fear permeates the market.
🚀 Buying in Uncertainty: Why? Because history has shown that some of the most lucrative opportunities arise when there's widespread fear. Buying when others are fearful can lead to substantial gains when the market eventually rebounds.
🔮 The Contrarian Mindset: This approach is often referred to as contrarian investing. It means going against the crowd when the crowd is driven by emotions like fear or greed.
In conclusion, FOMO is a powerful emotion, but it's not always your ally in the world of cryptocurrencies. It's often more prudent to patiently await moments of market fear, recognizing them as potential entry points.
Stay level-headed, stay patient, and remember – in crypto, embracing market fear can sometimes lead to the most rewarding opportunities! 🌊🚀
❗See related ideas below❗
Follow + Like this post and share your thoughts in the comments; your engagement fuels the creation of valuable content! 💚💚💚
Trading Success Through Journaling: Reflect, Learn & GrowHello traders, today we will talk about how journaling can be a really helpful tool for you in your trading journey. Journaling is a simple yet powerful tool that can help you gain insight into your mental and emotional state, identify patterns and triggers, and make more informed decisions. In this post, we'll explore how you can use journaling to improve your trading performance.
1. Reflect on your emotions: After each trade, take a moment to journal about your emotions during and after the trade. This can help you identify patterns in your emotional responses and provide insight into how certain emotions may affect your trading decisions.
2. Identify triggers: By journaling about specific events that preceded a trade, you can identify the triggers that lead to your emotional responses. This can help you take steps to manage your emotions before they affect your trading decisions.
3. Evaluate your decision-making: After each trade, take a moment to journal about the decision-making process you used. This can help you identify any biases or patterns in your decision-making that may be affecting your trading results.
4. Set goals and track progress: Use journaling to set goals for your trading and track your progress over time. This can help you stay motivated and focused on your long-term goals.
5. Increase self-awareness: Journaling can help you become more self-aware of your thoughts, feelings, and behaviors. This can help you identify any negative thought patterns and work to change them, which can lead to improved trading performance.
To make the most of journaling, you should be honest with yourself and write down what you truly feel and think. Journaling is a powerful tool for reflection, learning and making adjustments for the future.
It's important to note that journaling is not a standalone strategy, but rather it's a tool that can be used in conjunction with other analysis and indicators to inform trading decisions. Also, you don't need any specific equipment, just a pen and a notebook, and you can journal at any time.
In conclusion, journaling can be a powerful tool for traders looking to improve their performance and manage stress. By gaining insight into their mental and emotional state, traders can make more informed decisions and improve their overall trading results. Give it a try and see how it can help you in your trading journey.
I would love to hear about your own experiences with journaling in trading. Please feel free to share your thoughts, feedback, and tips in the comments section below. Your input and feedback is valuable to me and to the trading community!
TRADING IS PASSION NOT FOR PROFITHi. traders. Trading is actually a PASSION not primarily meant for PROFIT. This concept will reduce your stress during trading and will not let you make mistake during trading. There can be no chart for psychological trading but it is only you who can over come your own greed. Trade stress less with the help Tech Analysis. Every day comes with a dew of learning. Trading view provides a lot of opportunity to learn more. I have traded for last 11 Years and found that this platform is non parrel for traders like us. ENJOY TRADING
GJ 120 pips Sells BreakdownPrice broke below the support we highlighted, however as there was no lower wick on the 1h breakout candle, price had no clear range to move down, so instead of moving to the lower timeframes to look for selling confirmations, I stayed on the 1h timeframe and decided to look for a break and retest setup, as it was not on a lower timeframe my confidence for this trade was pretty good.
As soon as we tapped into the broken support zone, I took an entry with half of my usual risk, stops were above the previous candle and my TP was highlighted on the chart.
Profits were taken at each of the support zones as we tapped into them, this lowered our risk and secured profits.
When we hit our final target, we removed our TP and let 10% of the trade run, the target for this was 135.887, as this was a possible rejection zone and also 120 pips profit. This target was also hit before price formed support to continue back up.
EURUSD - Short OpportunityPlease refer to text on chart.
** Remember, we do not try to predict future price. We simply react to current price movements based on our interpretations of past data.
