Get started

Tradingjourney

Navigating the Rocky Road: The Hard Trade Journey 🌄💼 The path to success in trading is not always a smooth one. For many, it's a hard-fought journey filled with challenges, setbacks, and invaluable lessons. In this comprehensive exploration, we delve into the trials and triumphs of traders who have faced adversity and emerged wiser and stronger. Learn from their experiences, find inspiration in their stories, and discover that the hard trade journey is a crucible where traders are forged. The Grit of Hardships The Learning Curve Emotional Battles Triumphs in the Trenches The Persistent Trader The hard trade journey is not for the faint of heart, but it's within the crucible of challenges that traders are refined and their characters are tested. It's where learning happens, resilience is built, and triumphs become even more rewarding. The stories of those who have weathered the storm serve as an inspiration to all traders embarking on their own challenging but ultimately rewarding journeys. 🌄💼 Please, like this post and subscribe to our tradingview page!👍
COINBASE:BTCUSDEducation
by EliteTradingSignals
7
Navigating Losses: The Reality of Forex and Gold Trading Journey Embark on a journey through the dynamic worlds of forex and gold trading, where losses are an inevitable chapter in the story of success! 🛳📉💰 In this comprehensive guide, we'll explore the profound truth that losses are an integral part of trading, backed by real-life examples, insights, and strategies to help you embrace losses and emerge stronger. 🚀📊🌟 Embracing Losses in Trading: A Paradigm Shift 💡 Losses are not failures; they're opportunities for growth and learning. Every trader, whether a beginner or a seasoned professional, encounters losses on the road to success. Understanding and managing losses are crucial for sustainable trading careers. Real-Life Lessons Through Examples 📈📉 Example 1: Learning from Drawdowns 📊📉 Example 2: Averting Emotional Trading 📉🧠 Example 3: The Evolution of Strategies 📊🔄 Rising Stronger Through Losses: Your Trading Odyssey 🚀🔝 Just as waves shape a seafarer's journey, losses mold a trader's path to success. By acknowledging that losses are an inherent aspect of trading, you unlock the potential for growth, adaptability, and continuous improvement. With the right mindset and the wisdom gained from navigating losses, you can navigate the seas of forex and gold trading with confidence, determination, and the promise of brighter horizons. 🛳🌅💼 Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
9
Navigating Grid Bots: Frequently Asked QuestionsHello, traders! I've set aside some time today to address the questions you've sent me via DM. Let's get started! What settings should I use? Find the middle ground – not excessively tight, not much loose. Set your upper and lower limits at about 5% above and below the current market price. This approach ensures you stay comfortably distant from triggering orders, even amidst the exhilarating market fluctuations. How much is your monthly profit range for this strategy? Balancing profit with stability is a delicate dance. In volatility markets, it may be wise to opt for a wider spread - consider 2% to 5%. In calmer waters, you may want to explore a narrower spread of 0.5% to 1.5% for Swiffer profits. The decision ultimately depends on your risk tolerance. How much should I risk from my capital? Your deposit isn't merely a number – it represents your "lives" in the crypto market. A common rule of thumb is to avoid allocating more than 20% to 30% of your total investment in any single trading strategy. It's cushion guards against sudden downturns while affording your trades room to breathe. How can I test it? You should use historical market data to simulate work under diverse market conditions. It's practice fine-tunes your parameters and helps you identify potential pitfalls before real capital is at stake. This feature you can use on Bitsgap :) Stay alert to market fluctuations and be ready to adjust your strategy as needed. Remember that your insight, attention and thorough research are immeasurably valuable. I always pay attention to three factors: Coin volume and volatility (up to 10% and more) News-based influences Examination of EMA behavior – the farther it diverges from the price, the greater the potential for fluctuations. Do you trade with GRID bots? You are welcome to write in the commentary below! I always appreciate your likes and subscriptions!
Education
by Ingwina
2
From Gambler to Strategist: My Personal Journey of Trading WiselHello everyone! Today, I'd like to share some insights on how NOT to approach trading and thoughts on how to do it right. This short article was prompted by a memory from 2018, a time when the market experienced significant drops. Don't buy into price drops without understanding where the last short or areas of interest will be. 1.Trade possibilities and probabilities, avoiding complete certainty in every trade. 2.In algorithmic trading, the more robots you use, the more your profitability curve might suffer, and your risks might increase. 3. Use your stop losses as potential entry points for profitable trades. 4. If you're into manual trading, work with a few systems, but don't overwhelm yourself with numerous indicators or types of technical analysis. 5. Create a backtest based on a specific pattern or indicator and stick to that strategy. A skilled chart trader has a solid foundation of multiple patterns but follows a unified search logic. 6. Don’t trade with FOMO. Please wait for the pattern, and don’t jump into green candles on the top! And now, a little story to conclude my narrative… It was my previous lifestyle. - Meeting friends in the evening? Sorry guys, I've got the New York session. - Birthday on a Friday? Let's postpone it to the weekend. - Morning jog? Oh darn, there are important London data releases today. Then, in a single moment, everything changed. Strangers on the streets smiled, girls winked playfully, and some even introduced themselves. During my morning jog, followers ran alongside. Evenings at upscale restaurants turned into admiration-filled gatherings as friends inquired about my secret. I shifted from intraday to medium-term trading. Minute charts gave way to daily ones, yet my trading results remained consistent. Time spent in front of charts reduced, without much impact on profits. Now, I could be myself, socialize, sleep well, and travel without market worries ( Of course, sometimes it’s needed, but not at any time). I often reiterate one thought: your trading style and system are an extension of your identity. So, before diving into active trading, please make sure that you know yourself and your traits well. How's your patience? How well can you stick to the initial plan? Are you persistent enough? Answering these questions will shed light on whether you're a scalper or just an ordinary individual. And that's the end of my story. What rules do you adhere to? I would like to read it. You are welcome to describe it in the comments:)
Education
by Ingwina
4
Key Preparations for Successful FX Trading Launch 🚀 🛠📊💰 Embarking on your forex trading journey is an exciting endeavor, but success requires diligent preparation. Before you jump into trading on a real account, there are crucial steps you must take to set the stage for profitability and risk management. In this article, we'll guide you through essential actions to undertake before you start trading real money in the forex market. Building a Strong Foundation 1. Educate Yourself : Forex trading involves a complex mix of factors. Before diving in, equip yourself with a solid understanding of forex basics, technical and fundamental analysis, risk management, and trading strategies. Resources like online courses, books, and educational websites can be immensely helpful. 2. Demo Trading: Open a demo trading account to practice your strategies in a risk-free environment. Use this phase to refine your skills, test various approaches, and build your confidence. Aim to consistently achieve positive results before transitioning to a real account. Examples 1. Technical Analysis Proficiency: 2. Risk Management Implementation: Crucial Steps Before Real FX Trading 1. Create a Trading Plan: Define your trading goals, preferred trading style, risk tolerance, and preferred currency pairs. A clear plan will guide your decisions and prevent impulsive trading. 2. Select a Reputable Broker: Research and choose a reliable forex broker that offers competitive spreads, efficient trade execution, and strong customer support. 3. Set Up a Risk Management Strategy: Determine the maximum percentage of your trading capital you're willing to risk on a single trade. This strategy minimizes losses and helps you stay in the game long-term. 4. Start Small: Begin with a small trading account to reduce psychological pressure and manage risk. As you gain experience and confidence, you can gradually increase your position size. The journey to becoming a successful forex trader begins with meticulous preparation. By educating yourself, practicing on a demo account, mastering technical analysis, implementing risk management, and creating a solid trading plan, you position yourself for success in the competitive forex market. Remember, the more effort you invest in your preparations, the better equipped you'll be to navigate the challenges and seize the opportunities that forex trading offers. 🚀📈🛠 Please, like this post and subscribe to our tradingview page!👍
COINBASE:BTCUSDEducation
by EliteTradingSignals
8
The Journey of a Successful Trader: From Beginner to Pro Embarking on a journey to become a successful trader is not for the faint-hearted. It requires dedication, perseverance, and a deep understanding of market dynamics. In this article, we'll explore the fascinating journey of a trader, from their humble beginnings to reaching the pinnacle of success in the financial world. 1. The Awakening: The first step on this journey is often triggered by a profound realization that trading offers an opportunity for financial independence and freedom. It could be sparked by an inspiring story or personal circumstances that necessitate a change in career path. 2. The Learning Phase: Becoming a trader requires a solid education in finance, economics, and market analysis. Traders spend countless hours researching, reading books, attending courses, and practicing trading strategies. 3. The Emotional Rollercoaster: The emotional aspect of trading can be overwhelming. Successful traders learn to manage their emotions, overcome fear and greed, and develop disciplined trading habits. They understand that psychology plays a vital role in decision-making and work on cultivating mental resilience. 4. The Trading Plan: A trader's journey is incomplete without a well-defined trading plan. They learn to set realistic goals, identify their risk tolerance, and map out a strategy tailored to their trading style. 5. The Market Battle: Trading is not all smooth sailing. Traders face countless challenges, including market volatility, unexpected news events, and trading psychology hurdles. Successful traders adapt to changing market conditions, constantly refine their strategies, and learn from both their successes and failures. 6. Achieving Consistency: Consistency is the key to success in trading. Traders need to develop a refined skill set, adapt to new market trends, and maintain a disciplined approach to their trading plan. 7. Becoming a Mentor: Many successful traders reach a point where they become mentors, sharing their knowledge and experience with others. Mentoring not only allows them to give back to the trading community but also reinforces their own expertise and helps them stay up-to-date with market developments. The journey of a successful trader is a lifelong pursuit of knowledge, discipline, and continuous self-improvement. It requires dedication, resilience, and the ability to learn from both successes and failures. By mastering market dynamics, emotional control, and developing a trading plan, traders can move closer to their ultimate goal of consistently profitable trading. Please, like this post and subscribe to our tradingview page!👍
COINBASE:BTCUSDEducation
by EliteTradingSignals
5
From Novice to Veteran: An Inspiring Journey of a Trader Introduction: Embarking on a trading journey may seem daunting at first, with its complexities and uncertainties. However, the story of a trader's transformation from a beginner to a seasoned professional is undeniably captivating. In this article, we delve deep into the narrative of one such trader, exploring their challenges, successes, and the invaluable lessons they learned along the way. Follow this remarkable journey as we witness the growth and evolution of a novice trader, ultimately transforming into an accomplished pro. 1. #PersistencePaysOff: - The trader's first steps began with researching and learning the basics of trading. - Setbacks and failures tested their resolve, but their unwavering persistence fueled their progress. 2. #MasteringEmotions: - Early on, the trader faced emotional hurdles, succumbing to fear and anxiety during market downturns. - The realization of the importance of emotional discipline led to the development of robust risk management techniques. 3. #AdaptandConquer: - As the trader gained experience, they discovered the necessity of adapting to the ever-changing market conditions. - Initially following a single strategy, they learned to diversify their portfolio and identify new opportunities. 4. #MakingLemonadeOutOfLosses: - Reflecting on their early trading losses, the trader realized the importance of risk management and cutting losses swiftly. - Developing a meticulous trade plan and adhering to strict stop-loss levels helped minimize losses and protect capital. Conclusion: The journey from a beginner trader to a professional requires dedication, perseverance, and a commitment to continuous improvement. By focusing on persistence, emotional mastery, adaptability, and learning from losses, our trader protagonist grew into a seasoned professional. Their transformation serves as an inspiration, demonstrating that success can be achieved through hard work, relentless self-reflection, and a passion for learning. Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
8
⌛ It's Just A Matter Of Time📍Journey Of a Successful Trader No one started as a good trader. Every profitable trader was once a newbie. The journey of a successful trader is filled with challenges, hard work, and perseverance. It begins with a strong desire to learn and a commitment to become an expert in the markets they are trading. 📍The Right Path To Reach The Top 🔹Learn the basics of Trading 🔹Pick a Strategy that you fully understand 🔹Trading plan customized to your lifestyle 🔹Back Testing your strategy and plan 🔹Review your Trades, calculate your expectancy 🔹Demo Trading to build basic knowledge 🔹Live Trading, Manage your risk and emotions 🔹Professional Trader 📍Summary The first step in the journey is to acquire the necessary knowledge and skills. This includes learning about the financial markets, technical analysis, risk management, and trading psychology. Successful traders also develop a trading strategy that fits their personality and trading style. Once they have acquired the necessary knowledge and skills, successful traders spend countless hours studying the markets, analyzing charts, and monitoring news events that may impact their trades. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
4
The Benefits of Keeping a Trading Journal for Your PsychologyTrading can be a challenging and emotional endeavor. As traders, we must navigate through various market conditions, deal with losses, and manage our emotions. It's not surprising that many traders struggle with maintaining their psychological balance. However, one tool that can help traders keep their emotions in check and improve their trading is a trading journal. A trading journal is a document or software that traders use to track their trades, analyze their performance, and record their thoughts and emotions during the trading process. Here are some of the benefits of keeping a trading journal for your psychology: Self-Awareness Keeping a trading journal helps traders become more self-aware of their thoughts, emotions, and behaviors while trading. By recording their trades and reviewing them, traders can identify patterns in their behavior, emotions, and decision-making. This self-awareness can help traders recognize their strengths and weaknesses, and develop strategies to improve their trading. Improved Decision-Making A trading journal can also help traders make better decisions. By analyzing their trades, traders can identify mistakes they made and learn from them. They can also identify successful trades and analyze what they did right. This process can help traders develop a more effective trading strategy and improve their decision-making skills. Accountability A trading journal can help traders hold themselves accountable for their trading decisions. By recording their trades and emotions, traders can see where they went wrong and take responsibility for their mistakes. This accountability can help traders learn from their mistakes and avoid making the same ones in the future. Stress Management Trading can be a stressful activity. By keeping a trading journal, traders can vent their emotions and reduce their stress levels. Writing down their thoughts and emotions during trading can help traders release their negative emotions and feel more relaxed. This stress management technique can help traders maintain a healthy psychological state while trading. Goal Setting Keeping a trading journal can help traders set and achieve their goals. By recording their trades and analyzing their performance, traders can identify areas where they need to improve and set goals to achieve those improvements. These goals can be related to profitability, risk management, or any other aspect of trading. Setting and achieving these goals can help traders feel a sense of accomplishment and increase their motivation. In conclusion, keeping a trading journal is an excellent tool for traders to improve their psychological state while trading. By increasing self-awareness, improving decision-making, holding oneself accountable, managing stress, and setting goals, traders can improve their overall trading performance. Therefore, it's highly recommended for traders to keep a trading journal to improve their trading psychology.
DJ:USDOLLAREducation
by FOREXN1
22
Success is a self-introspection journey!You and I both know that financial trading the markets is an exciting and most definitely a lucrative venture for those who actually take the time and energy to get it right and trade well. But! Big But... If you want to become a successful trader, it's not just about analyzing market trends and making informed decisions – it is also about self-introspection and personal growth. This journey is one big self-discovery. And you'll find it's not only beneficial to trading but with life, love, work and even your true identity. Aas traders must know our own motivations, behaviors, and beliefs in order to truly excel. This means taking an honest look at our strengths and weaknesses, and being willing to make the necessary changes to become a more disciplined and effective trader. Do this and you WILL develop a strong sense of self-awareness in order to make better decisions under pressure. Trade well, live free. I'm off to bed. Timon MATI Trader (Financial trader since 2003)
JSE:J200Education
by Timonrosso
1
What Type Of Trader Are You?2 Extreme Types of Traders So let’s talk about “What Type of trader are you?” This is a follow up to my previous article, “The Traders Journey.” So here’s what I’m seeing. There are 2 extreme types of traders. The Type of Trader Who Wants to Know Everything 1.) This type of trader can’t get enough information. They’re like a ‘knowledge vacuum’! This type of trader thinks that by knowing EVERYTHING they can, this will inevitably lead to them making money in the markets. So he keeps reading books, watching YouTube videos, attends webinars…knowledge, knowledge, knowledge. … and he hasn’t placed a single trade yet. So think about it this way: Let’s say there’s somebody who wants to run a marathon. So he starts reading books about it and watches videos. He knows all about pacing, how he should train and what he needs to eat. He know the best shoes for running a marathon, and the best clothing… …. but he hasn’t run a single mile yet. Now onto… The Type of Trader Who Doesn’t Know Anything Now here’s the other extreme. The other extreme is the “trader” who doesn’t know anything, but they got a “hot stock tip from somebody.” This trader buys a stock and doesn’t know anything. Here’s a real example: Edith: I bought 10 shares of SNOW Markus: I'm curious: At what price? Edith: $243 Markus: So you're slightly down (for now). SNOW closed at $240 on Friday. Let's see what happens over the next few weeks. What is your profit target? Edith: I'm new at this, so I don't know what to expect but would like to make at least a 25% profit. I always hope one or more of my stocks takes off and I could buy a new home on the proceeds but of course that's not reasonable Edith has heard about SNOW, the biggest IPO of the year. It’s also the most hyped up IPO in a LONG time. I did a video on this: Should I Invest In Snowflake? It was originally priced at $85, then they raised the price to $110, and when it started trading, it jumped to $320! So Edith bought some shares for $243. And I asked her about the her profit target, and here’s her answer: “I don’t know what to expect. I hope that one of my stocks really takes off and I could buy a new home.” Wait…. What??? You bought 10 shares for $243, so that $2,430. I don’t know what houses cost in your area, but let’s make it easy and say it’s $250,000. So your shares would have to rise from $243 to $25,000 to make that happen! And in the markets, obviously anything can happen…but do I see that happening. Well, not in my lifetime 😉 Which type of trader is right? Of these two different types of extreme traders, the question still remains: What’s right? Which of these 2 approaches should you use? The “I want to know it all” approach or the “Let’s buy some stocks and see what happens” approach? I hope you’ve by now realized that it’s neither. That’s why I released The Traders Journey. You should really check it out. Here’s the right approach in a nutshell: 1) Find a strategy that makes sense to you (risk, time required, win %,). Examples: The PowerX Strategy, The Wheel. I made a video in which I compare these 2 strategies according to 5 criteria. It’s called “The Best Trading Strategy 2020“ 2) Learn the rules of the strategy 3) Place at least 40 trades on a simulator. 4) What are the results? 5) If it’s good, start trading it. If it’s bad, what can you do to improve? Now one more thing: When it comes to trading, YOU WILL HAVE LOSSES. No matter what they say, you will have winning trades, and you will have losing trades. There are no guarantees that you will make money as a trader. They key is to keep your losses small. Summary Now again, there’s 2 types of traders here: 1.) That’s the trader with a $10,000 account who sees a loss of $100. That’s 1% of his account. But he’s freaking out! 2.) Then there’s the other type of trader who buys a stock, and it moves against him. But he doesn’t take action. He doesn’t control his loss. Here’s another example: Sofwan: Sounds great. Can you do a video on Exxon Mobile , please? Markus: Hi Sofwan, what exactly would you like to know? :) Sofwan: I bought 100 shares at $44 for option trading. I can't do any trade and showing a loss of $900. Should I buy more to lower my initial price? This trader invested $4,400 and is now down $900. That's 20% of the account! THIS is what kills traders. THIS is what destroys accounts, NOT controlling your losses. It’s like “hoping for the best” and believing that “everything will be fine." Do yourself a favor right now: Check out The Traders Journey post and follow the steps that I’m outlining in that article. Then do the 5 steps I mentioned above: 1) Find a strategy that makes sense to you. Examples: The PowerX Strategy, The Wheel 2) Learn the rules of the strategy 3) Place at least 40 trades on a simulator. 4) What are the results? 5) If it’s good, start trading it. If it’s bad, what can you do to improve? I hope this helps. Leave a comment below and let me know what type of trader you are.
NYSE:SNOWEducation
by rockwelltrading
1