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JPMorgan ChasePotential double bottom setup here. I like this companies financials. It's a credit card company so I'm thinking about the attractiveness of reward points and holiday spending. Even though it's not estimated to be a great holiday season for some, I'm more so thinking about the surcharges and end of month billing here. Chase is also a bank on top of that and just in case they raise interest rates, this may not be a bad move. I want us to reach anywhere between 50-68% of the previous high which was set inn October. I love financials around this time of the year. Let's see what happens! Not Advice! Only an Idea! This trade may end up going wrong. That's the nature of trading! Let's keep getting better!
NYSE:JPMLong
by Redimere_91
USDSGDOn the monthly we are coming out of a weekly buyzone. Looking for price to retrace the previous high. We are on the low side of the macd with it losing some momentum. It may take a while to reach its target. However, I need to focus on one chart that looked promising on the forex side of things. I don't need to trade everyday. I'm working on my discipline as a trader and am learning how important it is to just calm down. I like the DXY gaining strength towards the end of next year with interest rate hikes. I like the positioning of this chart. I will be patient and will update this chart as I see fit. Not Advice. Good luck!
Long
by Redimere_91
1
USDNOKTechnical Analysis: Potential Double Bottom located. RSI oversold on 4 hour. Mac D oversold as well. Although we have a strong bullish candle, momentum color change hasn't kicked in yet on Mac D. Only looking for a retracement. Not a home run. I would like to see price reach 61.80% of the previous high. Let's see what happens! Fundamental Analysis: Business Confidence has dropped in the most recent report from Norway. Business Confidence has risen in the most recent report from USA. Norway's' inflation rate has increased more than the USA has in the most recent report. Norway has a higher GDP growth rate. However, USA has the higher GDP overall. Norway Inflation rate is higher than USA. Norway government debt has increased more than the USA compared to the most recent report. Norway Retail Sales YoY has decreased while sales in the USA have increased. Norway Housing Index has decreased while the index has increased in the USA. Not Advice. There is a chance that this trade may go wrong. That's just how it goes. The main goal is to continue practicing to get better! Let's keep working!
Long
by Redimere_91
USDJPYLooking at the DXY, it looks ready for a retracement. I wanted to find a pair that looked good and that was near a high. USDJPY looks like a double top on the 1 hour time frame. For those following we previously entered the USDZAR last night and although it didn't reach the 38% target, it got close and we closed out in profit. With the BBB bill not being passed, there is sentiment that the economic growth will slow a bit. Although I'm still bullish on the dollar, the interest rate hikes haven't came in yet so I'm following the flow of technicals as I'm looking for support on USD pairs to get back for the next retracements. I'm only looking for a 38% to 50% retracement to the down side. I do feel like we are neck and neck as far as economic power with Japan. I don't know everything that's going on there, however I know that charts are all about retracements. I would say that this pair is overvalued and needs to retrace a bit! Not advice! "It's not about being right more than it is about being smarter than your last trade!"
Short
by Redimere_91
USDZARA little late posting this to be honest. However, I think this is still a good move. Double bottom on this timeframe, Mac D losing momentum on the recent pullback. Looking for 50% of the previous high for a retracement target. I'm seeing that ZAR has a stronger interest rates but I want to see if or why the USD will be or is stronger than the ZAR regardless of interest rates. Even though the interest rate are stronger on the ZAR and both countries expect hikes next year, I noticed that the unemployment rate was drastically higher in South Africa. the ZAR is facing a more stringent debt issue than we are (allegedly). If we handle our situation quicker than theirs, I could see our dollar being stronger over time. (Opinionated) check via tradingeconomics for source. Business confidence has remained stagnant with confidence in the US increasing a small amount since last report. With this info here and information sought out earlier, I would think that the overall sentiment in South Africa is low from an economic perspective. Not Advice! "It's not about being right more than it is about being smarter than your last trade."
Long
by Redimere_91
General MotorsLooks like a double top was confirmed here. I would love to see a W pattern form now for a better price. With the fear of the new COVID variant, potential rate hikes next year, and high CPI reports, some investors may be dropping this stock at the moment which is understandable to some degree. I can see how investors may fear that there may be less car sales next year due to mainly not as much driving if the variant gets worse as well as the interest hike having an affect on vehicle financing. However, this company has proven its ability to weather the storm when COVID introduced itself to our soil. This is still America's car as well as Ford respectfully. Since 2018, assets has outshined liabilities, total equity has been increasing steadily, cash from operating activities have been stable, they have been taking on some new debt but not as much as they have between 2017 -2018, and although they are cashflow negative, it has been increasing since 2015 (-11.27B down to -3.86B). They have also been doing a decent amount of work in the investment area. They've recently announced plans for VAC (Germany materials company) to build a plant in the U.S. that will manufacture permanent magnets for the electric motors used in the GMC HUMMER EV, Cadillac LYRIQ, Chevrolet Silverado EV and more than a dozen other models using GM’s Ultium Platform. They've partnered with MP Materials the formation of a strategic collaboration to develop a fully integrated U.S. supply chain for rare earth magnets. They've announced plans to invest more than $51 million to install state-of-the-art equipment at its Bedford, Indiana aluminum die casting foundry to support the manufacture of drive unit castings for the upcoming Chevrolet Silverado EV and other current casting applications. They've also announced plans to form with a joint venture with POSCO chemicals through which the parties will construct a factory in North America to process critical battery materials for GM's Ultium electric vehicle platform. They've done all of this in December. Let's see what happens! Nothing like a Chevy and an slice of Apple Pie! Not Advice! "It's not about being right more than it is about being smarter than your last trade!"
NYSE:GMLong
by Redimere_91
Solana Retracement Trade Update (1 Hour TF)In our previous publish, we are still long on Solana. However, charts are all about retracements. Looks like a potential Double Top has formed. Looking for a retracement toward the previous low up to 50% which would be around $177. Having been in this are 4 times throughout the month. I want to see if we can reach this price during this current retracement phase. We are losing momentum on the current uptrend (green shifting to purple) on the mac d focusing on the 1 hour and the 4 hour. My stop loss is $189.22. I know it's not the best risk management. However, I like to set my stop losses at previous high's or low's to stay true to the chart. Not advice! "It's not about being right more than it is about being smarter than your last trade!"
BITFINEX:SOLUSDShort
by Redimere_91
Why Traders Suffer From Analysis Paralysis In TradingAnalysis-Paralysis In Trading This is an article I’ve been avoiding. Maybe it’s cos’ I’m guilty of it. You know, A bunch of knowledge makes—jack cross the rubicon. It’s December 1, 1990. ugh… what a glorious day! I mean—I’m grateful I survived. Are you? (rhetorically—cos’ I talk to myself a lot). Anyway, I finally get to attend “School of Candles” in Pretoria. South Africa is a great country but, only because they have one of the best—Trading schools in the world. Hashtag “respectfully” . I mean—Finally! Heh… I’m here. The Oakland… miserable red-collar guy is here. Can you believe it? Considering all the blown accounts and failed trades—I finally left the country to… South Africa. Pfft… Don’t mind my excitement—at least—I’m not sitting on my a*s reading this article because I have a problem. You are! i’m pretty sure you haven’t travelled out yet and it’s cos’ you keep losing. You’re a loser! At least… someone had to tell you. Don’t worry that makes two of us. Yeah—you and uh… you! Ugh… duh… I know you are not here for my—school of candles story. You’re here cos—you are stuck! Am I right? Anyway, I’ll help I promise. But, you have to promise me that I won’t be wasting my time. Do you promise? Okay—Great. So… Analysis Paralysis In Trading (What Does That Even Mean?) Look at them… so peaceful. Quick question—Have you ever really stopped to watch kids play? The laughter, glee, ambience, passion—so peaceful; so serene! These guys literally have nothing to worry about. Don’t you miss that? When last did you laugh? No… like actually laugh. These days—we have to watch a funny illiterate online to… crack up. How miserable can one’s life be? So sad; so depressing and why’s that? I don’t know about you—but, I miss those days. Nothing to worry about. You’re probably wondering, “What’s he on about?”… I just had to remind you of what your life (hopefully you’re still breathing)… is supposed to feel like. Before… I tell you how it actually feels like. That’s why you’re here right. Shucks. Analysis paralysis—wonder who comes up with these names. In a lame man’s term, it’s basically being paralyzed (not literally) from over-thinking. over-researching and over-analyzing… Why do we do these things; why do we even do anything. Imagine the thought of—mentally paralyzing yourself… Do you love yourself at all? Of course not—Humans (you reading this now) think of the possible worst for—every situation. Imagine… You go out and a complete stranger gives you money, from nowhere; out of the blue. What’s the first thing that comes to your mind? Be honest, Don’t lie. That’s what I thought. Anyway, Being completely mind-paralyzed is bad. I mean … have you seen—how they have to literally drive paralyzed people everywhere… They become furnitures (not trying to be insensitive); they really can’t do anything… on their own. You’ll end up—A furniture trader! Analysis Paralysis In Trading (How Can You Tell?) In school (school of candles), I attended every class. Wyckoff 101, Fibonacci 203 (borrowed course), Way of the candles, Price-action 105, Order blocks and Market structures 103, Supply and Demand, Indicators not manipulators… Weird ones! I took all. Trust me —I was a diligent student. But, I had no direction. I practically learned everything and anything. I mean—I wanted to be a great trader (don’t we all). The next class (Final year) required… Mastery. I realized that—sticking to one thing was a problem. Oh! No, I can’t choose. I literally attended all classes—just to find out what was best for me—even after taking these classes… in my first year. Hello Jane, I know this is kind of awkward… But, what’s your major? Uh… Order blocks. Imagine! I couldn’t even come up with something. What the H-E-L-L do you want Jamal? You’re just going round in circles. I couldn’t choose. Wanted to take action but, how could I? No one gave me the memo. I don’t even know what making decisions feels like. “Making Decisions” suddenly sounds like the strangest word in—the dictionary. So, tell me have you been in this position. All you keep doing is learning—anything; everything. But, no actions! Two ways you can tell: Can’t seem to make a decision. Always looking for a better solution—without actions! For analysis paralysis in trading It’s not something you can cheat. As a trader, You can’t go over or under it—Dealing with it is… the only solution. You keep delaying actions—whilst over-analyzing every situation. For this trader—you keep imaging downsides… Always the negatives; never positives. Imagine taking a trade—but, you’ve already imagined—300 scenarios of your plan going badly. Pfft… heh—who does that? Uh! you. You’re literally mentally paralyzed. What other options do you have than over-thinking everything. Are You Asking The Right Questions? Ta-ta… I envy them so much. Anyway, You learn to be in the comfort zone because… Why stress your brain till it’s paralyzed. Your brain is literally “yours truly”—It would always try to keep your safe. It will protect you, which is good. But, you become safe and unsuccessful. In trading, which do you prefer? Actually making a decision irrespective of the outcome or… staying out and avoiding everything. I mean if we’re being honest—the second option looks safe and comfortable. Will you choose that though? Remember you want to be rich; you want financial freedom. Even if you go through hell—do it without hesitations. Yup—That quote is a reference to the previous sentence. Eh… your lack of decision making will only make you—miss out on a million market opportunities. So, are you asking the right questions? When you literally ask yourself the right questions… It gives room for a clearer thought process and faster decision-making. Honestly though—Let’s blame google. An increase in options; an increase in choice. The fear of making the wrong choice arises. Then you become mentally paralyzed. Most traders today are stuck. I remember meeting a guy (Joe)—In one of my trading communities—in school. This guy found it hard to make a decision. Heh… So he buys and sells at the same time. Analysis paralysis in trading can make you a fan of gambling. But, there’s a solution… You can start by answering the right questions. What are the right questions? Is it worth the risk? Will it matter in 5 minutes? What was my first choice? Can you answer these questions? Make it a habit to answer these questions before—you take a trade. Not just trading—anything at all… Train that brain of yours. Is It Worth The Risk? You know some-times the best way to eliminate choices is to—know the risk attached to each choice. Imagine having a $50 account (your only money) and trying to take a trade. You’ll probably over-think every thing because—you just can’t lose that money. I mean… Heh—that’s all you have right? So, the first question should be… “If I take this trade, is it worth the risk”. Note that… you might lose—but, the keyword here is “risk”. How much are you willing to let go of?… That should be the first thought. Try this exercise and you have to be truthful—always!… If I was given $50 and I was told to give someone $5 (out of your $50)… Would I be okay with that? If you will, then you can decide to risk 10% of that account—knowing that you won’t feel bad if you lose. Ergo, You’ve just made a decision—because you eliminated your options. I mean losing 10% of $50 is better than losing all. Now what next? you need to eliminate all trades that will make you lose more than 10%. See, No mulling— just progress. Note that… Not all trades are negatives. But, we should always consider the risk. Will It Matter In 5 Minutes? Now you know the risk you’re willing to take, the next question is—Will it matter in 5 minutes? Ever heard of the “5 by 5 rule”? Well, the 5 by 5 rule states that—if you come across an issue take a moment to think—whether or not it will matter in 5 years. If it won’t, don’t spend more than 5 minutes stressing out about it. Forget the “5 years”—My own 5 by 5 rules is… don’t waste 5 seconds pondering over it, if it won’t matter in 5 minutes. Mine works right? I mean… 5 years is a pretty long period you know. By the way, the market waits for no man. The fact of the matter is, there are some problems that do not need your full attention. Why stress over some money you’re okay losing. If after 5 seconds you’re cool with it then—go ahead! Do me a favor. Let’s practice… Um—can you remember what you just did 5 seconds ago? If you can, it matters; If you can’t, “It’s irrelevant and doesn’t matter. There, fixed right! What Was My First Choice? The human mind is like a sick computer virus. It’s basically, randomly, just processing relevant and irrelevant informations and thoughts. You tend to have all these choices, thoughts and feelings all mixed up—especially during pressure. I was listening to Roger Khoury the other day and he said, “When driving a car in a—calm state—you’re basically just following the rules of the road right? But, what happens when you’re late for a meeting—You find yourself breaking all these rules.” Similarly… same applies to the market. You don’t have time; you’re supposed to make a decision—If not, the market leaves you. Then if you’re like me that attended all classes in—Pretoria, you probably don’t have a particular strategy. Different options; different opinions. What happens? You become paralyzed! All this can be avoided if you remember your first choice. Many traders fail to understand that our gut feelings, our instincts—matter. Where do instincts come from? In as much as the brain behaves sick sometimes—It also stores useful informations… knowingly or unknowingly. These useful informations are usually processed when needed. Do you ever know something and wonder—how you know that thing? It’s cos’ you probably already came across that stuff but, you ignored it. Cos’—It didn’t matter. But, look who wasn’t ignorant “your brain” yeah, remember… “Yours truly” loves you. Those first choices… are thought of for a reason. So, make them your last resort—always! Havoc Of Analysis Paralysis In Trading Hey guys, my name is Jamal and I’m a victim of Analysis Paralysis in trading … “Hey Jamal”… Sounds familiar. Yeah, group home. My encounter with Analysis Paralysis in trading wasn’t a great one. There were consequences. Each with its own baggage. After I narrowly graduated from the School of Candles, Pretoria. I mean I’ve learnt everything—I was ready for the market. On Tuesday, May 3, 1994, I deposited $50,000 to my trading account. As a graduate of School of Candles—what was the next thing? To get into the real world of trading . A nasty encounter in the market occurred. I found a GJ (gbp/jpy) trade, the daily had a bearish head and shoulder, the—4 hour, a double bottom. On my chart, I had Bollinger bands, Moving averages, Relative strength index… Name it. Yeah —I was that confused. Didn’t know if to—buy or sell. Oh! No, a clash of interest. My indicators… some gave me buy signals; others sell signals. Oh my God! What now? What’s the direction—Now I’m exhausted, tired, I can’t think straight! The market decides to buy… Yeah, I guess I’ll go long now. The sound your phone makes when you just placed a trade. Greedy old Jamal, used 2 standards for US30 on a $50,000 account. I was more than confident. The market does it thing. What! no… no… n0—Why is there a sell taking place now? No! The Havoc That’s it… That was so easy I lost it all. Everything! “What was the point of school then?” I thought. Useless! You’re so useless Jamal. You can’t get anything right. I couldn’t make a decision… My brain said, “Pause”. I was paralyzed and I failed. Three things happened to me: My trading performance reduced Creativity was gone. Couldn’t decide on a strategy and all patterns became useless. Lost my willpower. I couldn’t make a decision—too many options. Thank you for listening! “Thanks for sharing Jamal”. How To Overcome—Final Words Don’t ask me what I went to a group home to do. Analysis paralysis in trading affects you mentally—It builds into a habit and you become the hesitant trader. Do you remember him? That guy who couldn’t make decisions, that insecure coward. Yeah—that was who I became. June 23, 1994, I was in bed. Thinking, crying, staring—”What went wrong?”, I thought. How come… I mean i’ve gone to one of the best schools, learnt everything there is to learn, and graduated with a 2:1. So, what exactly is the problem. I discover that—I was. “Jamal you are the problem”—I discovered 6 things. These 6 things I’m going to tell you are very important. I’m telling you because—I love you. You shouldn’t follow my past; you shouldn’t make my mistakes. My mom’s teaching helped. Remember when she gave me the trading elements and principles… Steps To Overcoming This Nuisance. This is the truth; this is my truth. After a month I discovered that: You need to trust you. No one else opinion matters in the business of trading. It’s your business—You should mind it. Limit the amount of research (information you consume) you do. It’s called “learn and earn” for a reason—Not “Learn and continue learning”. Talk to someone. If you think you’re stagnant, you need to pour out all those information—on someone. Teach them! Perfection isn’t the key. Progress is! Know your end goal always. Notice every thoughts and emotions. If possible, write them down. If you follow this manual, you should never have reason to be stuck or mentally paralyzed. Remember sharing is caring! Tell someone about this article. Most traders have no idea what analysis paralysis in trading is.
OANDA:NAS100USDEducation
by lazyluchi
2