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Trading Plan

10 Lessons To Learn In Forex 10 Lessons To Learn In Forex: 1) Learn All Basic Terminology - Pip, Lot, Margin, Spread, Leverage, Base currency, Rollover etc... 2) Demo Trade For At least 1 Year - Then Trade Low Lot Size To Start Real Trading With, When you are ready. 3) Risk Management Is #1- Always Control Risk/Reward (keep all trades to 1% to 2% of your total account). 4) Always Have A Strategy/Plan- If Serious Follow It always. You want to demo trade until you find one which has a positive win rate over 100 or 1000 trades. 5) Try Price Action Only Charts- Naked Charts Tell You Everything. Start learning and even real trading with money on just price action charts. You can add Fib retracements & extensions, trend lines, support, resistance, etc. over them as needed. 6) Journaling Trades To Learn- To Find An Edge & Answer Q's. You want to put things like the following in a forex journal: pair trades, buy or sell, price entered, stop loss, exit price, loss or profit, reason whey you took trade, etc... 7) All Indicators Are Lagging-They Tell You Past Not Future. Yes, you can use indicators & some are useful in trading, but depend on time frame, etc.. but they are unnecessary in forex trading. 8) Scalp/Day trade On Higher TF's-Easier Using 1Hr, 4Hr or Daily. Any timeframes under 1 hour should be used to get a better entry into a trades and also to use a tighter stop loss, but using 1hr, 4hr & daily should be used to find quality setups that match up with your strategy and/or plan. 9) Learn Candlestick Language-They Give You A lot Of Info. Look at naked or just price action charts on any timeframes, what do you see? Candlestick bodies and wicks/shadows, reversals, times when same pairs tend to have trending or sideways price action. Buying/Selling pressure & trading patterns, etc... 10) Forex Trading Is A Marathon - Not A Sprint Race. Trading Forex can be a full time job, if you are serious and treat it like a business. The slow approach is best one to trade with- let your account slowly build up, using compound interest, by controlling risk and reward per trade to 1% to 2%, with a winning strategy/plan or having a profitable win rate in trading, your account will go higher then you think- have no fear, no greed & have patience.

Education

Position sizing 101 - how to avoid crippling losses Position sizing is determining the correct size of the position based on the amount of money you risk on the particular trade. Before you can do that, you need to figure out what is the maximum acceptable risk of the trade. That risk is usually expressed as a % of your balance, that you are willing to lose. To make sure you don’t lose more than this amount traders set a Stop Loss order which is the real maximum exposure of your position. If you don’t use a stop loss, you are exposing your entire portfolio! Where to put a stop loss? That’s where Technical Analysis can be handy. The majority of retail traders would look at the chart to find out – usually behind some support/resistance level or based on some volatility indicator, such as ATR Rule of thumb: Risk between 1-3% of your portfolio balance on each position. This way any single individual loss won’t wipe your account and break your spirit. And more importantly, even a string of losses will leave you with enough ammunition to recoup the losses. Have a clear approach to risk: 1. Set a risk limit for each trade, asset in general, day, week, and month (you won’t risk more than X account) 2. Determine the right position size and start small 3. Increase the position size of trades slowly if your account grows 4. Lower size or switch back to paper trading if your account doesn’t Two types of position sizing methods: Fixed and flexible Fixed position size Using the same position size for every trade Good for finding out if your strategy has an edge Make sure you come back and reevaluate position size periodically. Flexible position size Using a percentage of the current balance Cluster of wins makes every following win larger Cluster of losses makes every following loss smaller How to calculate the correct position size: You need to know 1. Trading account size 2. Acceptable risk (in % per each trade) 3. Invalidation point (in form of a distance from the open price) The formulae: Position size = Trading account size x Acceptable risk / Invalidation Example: 1. Trading account size = $10,000 2. Acceptable risk = 1% 3. Invalidation point = 4% drop in market price Position size = $10,000 * 0,01 / 0,04 = $2,500 This way you will always risk losing $100 no matter where your Stop Loss goes! If Stop Loss must be wider, say 8%, the calculation is: Position size = $10,000 * 0,01 / 0,08 = $1,250 Doubling the distance to our stop loss has us reducing our position size by half to maintain the same possible loss. How to set position size in Tradingview 1. Use the Long position or Short position drawing tool 2. Input your account balance 3. Select the risk you're willing to undertake - either as a % of your account balance or as a monetary value 4. Enter the market price of your Stop Loss 5. Look at the "Quantity" field in the drawing tool = that is the position size you should use to adhere to your risk settings.

Education

Ultimate guide to trading divergencies Hey guys! In this post, we are going to learn how to trade divergencies, how to find them on the chart, and how to use them in our automated trading strategy. Introduction Divergence occurs when the direction of an asset’s price and the direction of a technical indicator move in opposite directions. Finding divergence between price and momentum indicators, such as the RSI and MACD, is a useful tool for identifying potential changes in the direction of an asset’s price and is therefore a cornerstone of many trading strategies. Types of divergencies There are 4 major types of divergencies: Bullish Divergence Hidden Bullish Divergence Bearish Divergence Hidden Bearish Divergence Bullish Divergence Price is printing lower low while the technical indicator shows higher lows. This signalizes a weakening momentum of a downtrend and a reversal to the upside can be expected to follow. Hidden Bullish Divergence Price is making higher lows while the oscillator makes lower lows. A hidden bullish divergence can signalize that uptrend will continue and can be found at the tail end of a price throwback (retracement down). Bearish Divergence Price is creating higher highs while the technical indicator shows lower highs. This signalizes that momentum to the upside is weakening and a reversal to the downside can be expected to follow. Hidden Bearish Divergence Price is making lower highs while the oscillator makes higher highs. A hidden bearish divergence can signalize that downtrend will continue and can be found at the tail end of a price pullback (retracement up). Regular divergencies provide a reversal signal Regular divergences can be powerful signals that a trend reversal is likely to occur. They indicate that the trend is strong but its momentum has weakened, providing an early warning of a potential change in direction. Regular divergences can be powerful entry triggers. Hidden divergencies signal trend continuation On the other hand, hidden divergences are continuation signals that often occur in the middle of a trend. They indicate that the current trend is likely to continue after a pullback, and can be powerful entry triggers when confluence is present. Hidden divergences are typically used by traders to join the existing trend after a pullback. Divergence validity The typical use of divergence is with a momentum indicator - such as RSI , Awesome oscillator , or MACD . These indicators focus on current momentum, and therefore trying to map out divergence from 100+ candles ago does not have any predictive value. However, changing the indicator's period influences the look-back range for a valid divergence. Always use discretion when determining the validity of the divergence. Confluences It is important to approach divergencies with a disciplined and strategic mindset. Using them in conjunction with other forms of technical and fundamental analysis - such as Support and Resistance lines, Fib retracements, or Smart Money Concepts only increases conviction of the divergence validity. Hope this helps!

Education

XLM/BTC Position Trading. Zones. Money management. Psychology Logarithm. Time interval—1 month. The main trend since the beginning of trading. Coin in coinmarketcap: Stellar. Top trading pairs to bitcoin have significant liquidity. In position trading, you need to work in portions from support/resistance level zones with a predetermined size distribution. Unlike pairs to the dollar, pumps/dumps are smaller in % ratio due to the % rise/fall of bitcoin itself. If bitcoin is cashed in the market, profits remain the same. Hence, the smaller % is illusory in nature. BTC instead of stabelcoins . In such pairs, the “money” is bitcoin. Consequently, even premature selling (there shouldn't be any, since the position is allocated in advance) forgives mistakes, since you get bitcoins instead of USD or stabelcoins. Currently, many stabelcoins are losing their $1 peg, meaning they are devalued. Trading in a bitcoin pair reduces that risk. Work on such pairs is suitable foremost for medium and large participants of the market. It is not rational to work with a small amount in such a time/profit perspective. Money (crypto assets) security Money management. This is key. You don't need to hold a large position on the exchange for this kind of trading! Why keep coins or stabelcoins on exchange if you make transactions quite rarely, only large movements. You understand beforehand when it will happen and in what price zone you are going to buy/sell. That's what all the big market participants who don't take part in price formation do. When you need to buy or sell, you transfer the assets to the exchange and sell or buy on the market. You withdraw right away. If the amount is large enough, you should do this procedure in installments, preferably on several exchanges. At one time I worked for a long time (several years) on DOGE/BTC pair, when this coin was (scam, joke coin) nobody was interested in it, unlike the current time of hype. There is a trading idea of the principle of this work in Russian 2019. In this work, you work only in the secondary trend, from the main support/resistance zones, considering the development of the trend. You absolutely do not need to be interested in crypto news, the opinion of the majority and so on. You can look at the chart even once every few months. What's more, you also don't need to know the future highs and lows of the next cycle (though for traders, they are easily identifiable). You work piecemeal from the zones. You know in advance where and by how much you buy or sell. Locally you can trade 20-30% of your coins, so you will have extra profit. But you don't have to. The price goes down — good for you. The price goes up — good for you. Trading is guessing market probabilities of price movements. Algorithmic thinking according to a trading strategy, devoid of any emotion, makes money. Anything else loses it in any market. In other words, you must initially be prepared for more likely (in your opinion) and less likely outcomes. Know under what conditions you buy and under what conditions you sell. Buying/selling in portions of coins according to predetermined zones. You work from the average recruitment price and from the average selling price in portions, similar to how large market participants work on the BTC/USD pair. You never go completely into cache or similarly into coins. Only the % ratio of coins to money changes depending on the market cycle. Work from the average buy/sell price (of money and coins) on a global scale (large time frame), without any "what if this time will be different". If it does, it's none of your business. Know in advance where you will buy more in case of drawdown, and where you will sell in case of pumping. Again, without the "It could be different this time" and emotional component. Sell and buy assets a little bit before everyone else in the market in installments, "not knowing the exact future," even if you think you know it. This will keep you from making mistakes. Coin trading in the local trend. By trading part of a position locally, you will always have money from profits to buy (averaging the main position) in case of so-called local "black swans". This work is not mandatory, but desirable. It helps some people a lot psychologically, especially if the initial entry into the asset was erroneous and the price dropped significantly. By increasing the number of coins of local work, you thereby reduce your previous losses or even come out in profit over time. Again, you don't have to work this way, but it is advisable. The smaller goals you set, the more you end up earning on the distance . An untouchable supply of coins and cache in case of market force of circumstances . Always keep in mind the possibility of a “black swan,” even if it seems impossible. You always have 20-30% of your position depending on the cycle (money/coins) in case of force of circumstances. Bearish—a “black swan” sell-off under the channel support zone (happens very rarely). Bullish—the final hammer madness over the channel resistance (happens very rarely just in pairs with bitcoin because in a bull cycle bitcoin grows 5-8 times on average). Remember that in the accumulation phase in most cases there is a residual price zone of capitulation, super fear. It is usually accompanied by a “black swan. When everyone gets rid of their assets out of fear. You, on the contrary, buy with a grid of orders with a large range, without emotion. Consequently, always have a pre-allocated cache (or from the profits of a local trade) if such a trading situation is realized in the market. Turn someone else's negative emotions into your own profits. You should always act according to your trading plan and be ready for any market situation, even an extremely unlikely one. bull market highs zone (channel resistance). At the peak of the market, you should already have more than 60-70% in bitcoin (cache) for the next market cycle. 10-20% of the rest of the position should be in a stop loss to protect profits. This is more rational if the last spurt occurs. Coins sold for bitcoin can be held in bitcoin in a cold wallet (not rational if the overall market trend has reversed). You can also similarly sell on the market for cash (be sure to withdraw from the exchange), or put a stop-loss to protect profits, in case the market makes another spurt (additional profit on the BTC/USD pair). Always sell when the price rises significantly (pumping). Protect your profits with a stop. Always sell a substantial portion of your coins with a grid of pending orders during an active pumping phase. Another option is not to sell, but to protect your profits with a stop loss. Bear market minima. (lower channel zone). In a bear market, the lower the price falls, the more market participants wait even lower. Everything is similar to the distribution, only mirrored in the opposite direction. This illogical inadequacy of people is especially noticeable at the "peak of fear." Before that super minimum (there may not be one), you need to gain most of the coin position in advance, but be prepared for anything... Again, you must know in advance where and for what % of the allocated amount you buy coins and under what conditions. There must be discipline in everything and determine in advance what your further actions will be in accordance with your trading algorithm, rather than an emotional component. Always have a certain percentage of money that is comfortable for you in any dominant trend and phase of the market. Bull Market . In a bull phase, you should accumulate a large percentage of cache (stabelcoins) at the expense of profits. Bear market . In the bear phase (altcoins from -90% and below) you should accumulate in portions of cryptocurrencies you are interested in. I'm sure most people have it the other way around. In a bullish phase, most collect promising cryptocurrencies bought near price highs (hype, everything goes up in value). In the bear phase, on the contrary, most market participants load most of their trading depots into staplecoins (fear, everything is falling in price, expectation of inadequate floor prices). They are driven by the desire to buy back the lowest price of the trend, right before the reversal. The lower the market falls, the more most go from fear to stablcoins. Trade market cycles, not individual cryptocurrencies. Because their price strictly follows market cycles, but not the other way around. Options for the development of price movement on the pair XLM/BTC. . I will show the percentages of the following 3 zones of this channel, depending on where and under what conditions the reversal of this secondary trend will occur (a downward wedge is formed). 1 variant of reversal. Candlestick chart. Butterfly formation, the wedge is not embodied. 1 reversal variant. Line chart. 2 reversal variant. Candlestick chart. Version 2 of reversal. Line chart. 3 reversal variant. Candlestick chart. Full formation of the descending wedge on the classic TA. 3 reversal variant. Line chart. Be aware of trends and accumulation/distribution zones . Remember that a bear market, like a bull market, will not last forever. Where there is supposedly an end, there is always a new beginning. Everything is subject to cycles. This is especially true of financial markets. Every cycle is the same to the point of triviality. Be guided by trends, that is, by accumulation/distribution zones, when they start and end. Bitcoin⁣ — as more than a decade of cycle history shows, this is from -70-82% of the secondary trend high. This does not mean that the subsequent cycle will have the same percentage trend value, but there is a possibility. Alts average -90-96% and lower depending on the liquidity of the crypto coin. The lower the liquidity (people involvement), the higher the risk. You should also understand that the lower the liquidity, the higher the slippage at “peak fear” can be. Many altcoins, especially those with low liquidity, do not survive to the next cycle. Also be aware of market capitulation shocks as a consequence of so-called “black swans.” It won't necessarily happen, but the possibility always exists. The price of something that is worthless can be turned into absolutely anything on the market, to the point of inadequacy. It's not a real commodity whose value people understand. Psychology. Indicators of distribution/accumulation zones in cycles. Allocation zones ⁣—resetting to “hamsters” (fools or inexperienced market participants) is expensive. In a bull market, the higher the price rises, the higher the expectations. Up to inadequacy in the last reset zone in the distribution. “Hamsters” buy very expensive “promising coins” near trending price highs (marketing, information noise) and wait even higher. Accumulation Zones⁣ — Large market participants buy on the cheap from “hamsters”, constantly scaring them with various bikes and imitations. There is a massive build-up of negative news. Hamsters sell cheap and wait for an even lower price. No matter how low the price is, it cannot satisfy people like them. In other words, their thinking is sharpened to the opposite. Projecting onto trade what they are in life. Anything to do with money reinforces this effect. Buy expensive, sell cheap. Don't inherit this tendency of those who lose money in the market. As a rule, most people don't buy at flea markets; they are afraid. They wait for those who should be selling to them to say, "Fools, it's time to buy in the very expensive.") What matters is how much you earn when you're right, and how much you lose when you're wrong. You should know these potential values initially before you make a deal. If you can't determine them, or the risk is too high — refrain from trading. Immunity to guessing lows and highs . Most fools do this in all cycles. Forget the hamster concept of selling at the peak or buying at the low. Leave it to those who are destitute and will be even poorer because of it. Again, it's all in the head. What a person is like in reality is what a person is like in trading. Kill your greed. For example, in all bitcoin cycles (I have my third), the so-called hamsters (fuel) and pseudo traders (fuel) always want to guess the highs and lows of the price. The question is, why do we need to do this? The answer lies in the thinking of the poor and lack of understanding of simple logical things. The ability to wait for your goals. Be patient. Cycles, both local and global, tend to recur with their own time interval, which cannot be identical to the previous one. Consequently, only the patient earns. Learn to be out of the market, In areas of uncertainty, if the market doesn't let you make money, why burn time in vain? This time can be used with benefit both for yourself and for others. Take a rest, read an interesting book, go somewhere, do something useful. The main thing is not to immerse yourself on the Internet. It is important how much you earn when you are right and how much you lose when you are wrong. Initially, before entering a trade, you should know these potential values. If you can't determine them, or the risk is too high, then refrain from trading. Treat the numbers on the screen as numbers, not as money. No equation with the value of "what you can buy with that amount of money on the screen." That is, you have to identify with the percentage of profit/loss, not the money — the amount of profit/loss. When -5% to $100 is $5, and you are not afraid of such a loss. But, for example, when your balance is over $10 million, then -5% would be $0.5 million. For a fat hamster, that's a tragedy. For a big trader, it is a calculated risk. The drawdown can be much more significant, but the risk is always considered and accepted in advance. In the end, the profit more than compensates for such a drawdown. I think you understand the logic. It allows you to understand whether you are ready to work with large sums or not. I purposely wrote a large amount as an example to provide a clear contrast because everyone is ready to lose temporarily, namely temporarily $5? But $500,000 is an unimaginable amount for most people. But to be ready to work with big sums, you need that discipline and attitude towards money at the very beginning of your hobby of trading. Everyone wants to work with large sums in the future when they trade, or am I wrong? As a rule, most market participants cannot overcome this barrier because of their "lust for money" and identification: the numbers on the screen are real money, not just profit/loss % figures. A trader's behavior in the market is a result of his thinking. Your way of thinking affects your habits, and your habits are what makes or loses money in the market. Margin is bad . The exception (not necessarily) is an adequate short position with minimum leverage and risk limitation. If you want to steadily earn in the market and never get nervous - don't use margin at all. Absolutely never. As a rule, the poor use margin, and the poorer they are, the higher the leverage. Perhaps that is the secret of their poverty. I'm not talking about margin in the first place, I'm talking about the mindset that generates higher margin leverage, driving the risk/profit ratio to idiocy, but that's the way it is. Exchanges don't like those who make money and adore those who might lose money trying to get rich. Margin trading with leverage is only for experienced traders. It should be taboo for novice traders. Diversification of storage and trading places . This is very relevant to position trading. I wrote about it above. Don't trade or store your coins in one place. "Russian or South Korean hackers attacked a top exchange, all cryptocurrency stolen." This is sarcasm, but this is exactly the kind of FUD for fools you will see when they just steal cryptocurrency from exchanges under the guise of such a tale. The made-up story doesn't matter, what matters is that the people behind the cryptocurrency exchanges will steal cryptocurrency from you, wearing the skin of an injured sheep). The safety of your money (including cryptocurrencies) depends only on you, not on chance. Anything that seems random is not. If you always rely on chance instead of your mind, you are doomed. The will of chance will shadow you and haunt and empty your pocket time after time. You will always be at the forefront of the victims of your carelessness and self-confidence. Always keep some of your positions in cold storage . Keep some of your positions, even if you are very actively trading, on a cold or hardware wallet (preferably several). It should be at least 30% of your total deposit. This percentage should vary during certain phases of the market. In accumulation zones, most of the position should be out of the exchanges. Diversification of stubblecoins (profits) and their blockchain storage. Very relevant because in the future, one liquid stabelcoin like UST (Luna) will be zeroed out (disposal of money on a large scale). Probably, many people have understood this for a long time, but do not believe it will be implemented. Not only that, but most altcoins will evaporate at the moment. Yes, the probability, as always, is no greater. But if that probability is there, it is rational to take steps to make sure it doesn't hurt you. Diversification as well as swift action during an event is the best defense against something like this. Stable coins are always a risk. Keep this diversification in mind, both by their own varieties and by blockchain if you are storing them on a hardware wallet. Unfortunately, this is a risk you will have to accept and live with, as using stablcoins is a component of trading. Diversify such assets not only when you are out of the market waiting to trade, but even when you are actively trading. That is, by using different stabelcoins when trading the same cryptocurrency (e.g., BTC) you reduce risk. For example, BTC/USDC, BTC /USDT or BTC/BUSD. Any stabelcoin is an altcoin whose value (stability) is based only on people's belief in its stability . Totally uninterested in the opinion of the crowd . The crowd is always wrong. The majority always loses in the market. Otherwise, it would be impossible to make money in the market. Therefore, by being interested in and listening to the trend of the opinions of most market participants, you can unnoticeably lean towards the opinion and understanding of those who initially have to lose. Are you prepared for losses? No? Then why should you be? Another option is to use the opinion of most market participants to track market trends. If you are well-versed in psychology, this will be helpful. If not, you yourself may fall prey to opinions unnoticed. Everything unpredictable is the fate of only absolutely predictable people, it always was, is and will be . Don't be interested in cryptocurrency news. The chart takes everything into account, including the release of "tales for fools." All crypto news is created for price direction and nothing more. Small-scale news for influencing fools (their logical scare/satisfaction actions) to locally influence the price. Large scale news and events to globally influence the trend and the market as a whole. If you can understand and read between the lines, understanding what the manipulator is trying to achieve, then you can use the news background in your trading strategy. If not, and you are not a good psychologist - completely ignore the flow of information. The positive and negative emotions of others in the market generate volatility, which is your earning wave. Ride it. Don't mess with anonymous fools. Appreciate your time. Don't pay attention if someone criticizes you without being constructive, or wants to impose their perspective without arguments of rightness. Such commenters are usually people with a very low social status in reality, they are trying to assert themselves through the internet in an anonymous world. Be immune to such losers, they are the ones who want you to doubt yourself and accept their perspective. The more bile, the more anonymous cries from. Understand that only such people have time to correspond and “spout bile” on the anonymous internet. As a rule, these are immature individuals or conventionally "mature," but with the mindset and interests of a teenager. Don't waste your time on the vacuous or psychological aberrations of flawed Internet characters. Make good use of your time. The behavior of people in financial markets is a projection of who they are in real life. That is, their positive and negative psychological qualities. Don't be a trading junkie. Don't waste time. Don't waste time. Both for meaningless Internet price guessing, and for round-the-clock trading. Mindless guesses. The idiocy of the crowd. Trying to guess highs or lows that are logically understandable. When all scenarios are clear and understandable. Do not turn into idiots from the "where the price of bitcoin will go" sect. Everything is always the same in every cycle. You must decide for yourself initially (after spending several hours) on what conditions and prices you will buy this or that cryptocurrency and at what prices to sell. Have a more likely and less likely scenario. Be ready for any incarnation. Do not complicate simple logical things with the stupidity of fortune-tellers mixed with your greed. The basis of trading is your trading strategy , that is, your knowledge that you put into practice in symbiosis with risk management , that is, your manner of taking on take risks in transactions and manage money. To paraphrase, initially you need to understand how much you will earn when you are right, and how much you will lose (hit stop or averaging if a less likely scenario is realized) when you are wrong. In such cases, it is absolutely not necessary to know the exact price of the low or high of the trend, leave that to the idiots. Trading 24/7. I will write short and clear. Money without life is not needed. In everything there must be adequacy. Knowing the instinctively more likely behavior of people (the psychology of mass behavior) in a given situation, as well as programming people's behavior (what is right / wrong, how to act in a given situation according to the rules) and creating the same situations, allows easy to manage "potentially uncontrollable behavioral chaos". Psychology. Be yourself - don't go against yourself. For traders Work with your trading algorithms based on your knowledge and experience, not on emotions. For those who are faced with the fact that trading constantly "hit the head" . Become an investor. Carefully study the cryptocurrencies you are interested in and decide whether to invest in them or not. Divide the money needed to invest in each cryptocurrency into several parts. Buy in areas of potential price reversal. After purchase, send your coins to a hardware wallet. Stay away from your cryptocurrencies until the new bull cycle (peak will be in 2025). Also, before the big bull cycle, there will be an intermediate one by a relatively small percentage, as in 2019-2020. Don't forget to sell some of the coins to buy them back much cheaper. It is also worth paying attention to those cryptocurrencies that are included (blockchains and protocols) in the development of CBDC and comply with the future ISO 20022 standard (already in March). XLM is one of them.

Education

⚠️Don't let FOMO ruin your trading ⚠️FOMO, or "fear of missing out," is a common emotion that can lead to impulsive and potentially reckless trading decisions. ⚠️ ✅Here are five key rules to help you respect and manage FOMO in your trading: 🔵 Use risk management techniques. Proper risk management is critical to successful trading. This includes setting stop-loss orders to limit potential losses and using position sizing strategies to ensure that you don't risk more than you can afford to lose. 🔵 Seek out education and guidance. If you're new to trading or struggling to manage FOMO, it can be helpful to seek out educational resources or seek guidance from an experienced trader or financial advisor. By learning more about the markets and trading strategies, you can increase your knowledge and confidence, which can help you make more informed and rational trading decisions. 🔵 Take breaks and step away from the markets. It can be easy to get caught up in the excitement of trading, but taking breaks and stepping away from the markets can help you clear your head and make more rational decisions. 🔵 Don't let emotions drive your trades. FOMO can lead to emotional trading, which is often not based on sound analysis or strategy. It's important to stay disciplined and base your trades on objective criteria rather than letting emotions drive your decisions. 🔵 Set clear trading goals and stick to your trading plan. Having a clear understanding of what you hope to achieve with your trades and a plan to achieve those goals can help you avoid making impulsive decisions driven by FOMO. 👤 @Galerdev 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate my work , Please like, comment and follow ❤️

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Emotion-Free Trading After a Loss✅1. Don't panic: Losing a trade can be frustrating, but it's important to remain calm and not make any hasty decisions. Remember that investing in stocks and cryptocurrency carries inherent risks, and losing a trade is a normal part of the process. 2. Don't hold onto a losing position: If a trade is not going in your favor, it's generally a good idea to cut your losses and sell the position. Holding onto a losing position in the hope that it will turn around can lead to even greater losses. 3. Don't chase losses: Trying to recover losses by making risky trades or investing more money is a common mistake made by investors. This approach is often referred to as "revenge trading," and it can lead to even greater losses. 4. Don't give up: Losing a trade can be a setback, but it's important to stay the course and continue to invest in a disciplined and strategic way. Don't let a losing trade discourage you from reaching your long-term investment goals. 5. Don't ignore risk management strategies: It's important to have a plan in place to manage risk, especially when losing a trade. This could include setting stop-loss orders, diversifying your portfolio, or using other risk management techniques. Ignoring risk management strategies can lead to even greater losses. 🚀For updates on the latest developments in psychology, market trends, and important news, follow our page. Stay informed and stay ahead of the game with our regular updates.

Education

Learn Pros & Cons of Trading on Demo Account Hey traders, In this article, we will discuss demo account trading. We will discuss its importance for newbie traders and its flaws. ➕Pros: Demo account is the best tool to get familiar with the financial markets. It gives you instant access to hundreds of different financial instruments. With a demo account, you can learn how the trading terminal works. You can execute the trading orders freely and get familiar with its types. You can get acquainted with leverage, spreads and volatility. Trading on paper money, you do not incur any risks, while you can see the real impact of your actions on your account balance. Demo account is the best instrument for developing and testing a trading strategy, not risking any penny. The absence of risk makes demo trading absolutely stress-free. ➖Cons: The incurred losses have no real impact, not causing real emotions and pressure, which you always experience trading on a real account. Your performance (positive or negative) does not influence your future decisions. Real market conditions are tougher. Demo accounts execute the orders a bit differently than the real ones. That is clearly felt during the moments of high volatility, with the order slippage occurring less often and trade execution being longer. Trading with paper money allows you to trade with the sums being unaffordable in a real life, misrepresenting your real potential gains and providing a false confidence in success. Even though we spotted multiple negative elements of demo trading, I want you to realize that it still remains the essential part of your trading journey and one of the main training tools. You should spend as much time on demo trading as you need to build confidence in your actions, only then you can gradually switch to real account trading. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️

Education

by VasilyTrader

4 Signs that Say You’re Ready for Full-Time Trading For forex traders, nothing embodies freedom more than those who trade full-time. After all, full-time traders enjoy freedom from their box-type offices, freedom of time, and freedom to choose which trading opportunities to take. Unfortunately, this brand of independence isn’t for everyone. Just like too much freedom can do more harm than good for some economies, not all traders are ready to trade full-time. So how do you know when you’re ready for full-time trading? From what we’ve seen from online forex communities, we can narrow it down to four signs: 1. You have enough capital Trading full time means that you’ll be quitting your job, your primary source of income. And, because you’re realistic, you know that you probably won’t be making any serious trading money in your first few months. 2. You have tried and tested other methods and strategies Not only do you need to have a strategy that has proven to be profitable for you, but you also have to have other equally qualified methods that would work for other trading conditions. After all, you never know when and for how long the market trends will shift! 3. You have spent a considerable amount of time trading LIVE Trading a live account brings forth trading psychology hurdles that you wouldn’t get from trading demo accounts. In addition, you have to have a fairly good grasp of your trading strengths and weaknesses, and, more importantly, you should know how to stick to a trading plan before you make trading your full-time job. 4. Trading is your passion Trading currencies is what motivates you to get up and get busy every morning. Remember that while full-time trading would provide you more opportunities to catch market movements, you don’t need to be a full-time trader to be consistently profitable. What do you want to learn in the next post?

Education

by UnitedSignals

Trade with Confidence: 5 Day Trading Psychology Rules to Embrace Set clear goals and limits: Before you begin trading, it's important to have a clear idea of what you hope to accomplish and how much risk you are willing to take on. This will help you make informed decisions and avoid making impulsive trades based on emotions. Control your emotions: Day trading can be stressful, and it's easy to let emotions like fear or greed influence your decisions. It's important to stay level-headed and stick to your pre-determined trading plan, rather than getting caught up in the heat of the moment. Use stop-loss orders: A stop-loss order is a type of order that closes a trade automatically once it reaches a certain price. This can help you minimize losses if the market moves against you. Diversify your portfolio: Diversification is a risk management strategy that involves spreading your investments across a variety of asset classes. This can help you manage risk and potentially earn higher returns over the long term. Continuously educate yourself: The world of day trading is constantly evolving, so it's important to stay up-to-date on the latest trends and techniques. This can help you make informed decisions and improve your chances of success.

Education

9 lessons from Traders Who Made Multiple 8 figures Hello Traders Losses Losses are an unavoidable element of trading, and it is important to understand that they are a regular part of the process. It's critical to remember that even the most successful traders suffer losses, and how they deal with such losses defines their total performance. Setting stop-loss orders, which are orders that automatically end a trade when it hits a specific degree of loss, is an important component of loss management. This may assist traders limit their losses and safeguard their wealth. It's also critical to have a strategy in place for dealing with higher losses, such as reducing transaction sizes or taking a vacation from trading. To new traders reading this, don't get scared... you're going to blow up your account at least once. Because, if you never did it, you never experienced how painful that is to lose your gains, initial capital, dreams. You need to experience that once so that your brain knows you'll never get to that dark place again. There is no other way, even if you follow guidelines from successful traders... I guarantee you that sooner or later, you'll blow up your account if it never happened to you yet. Every successful trader I know blew one or more accounts My wish for you is that it happens early in your trading journey so that the capital loss is small relative to your future potential gains Discipline Discipline is an essential characteristic for every trader to have. Trading can be a turbulent and fast-paced atmosphere, and it's easy to get caught up in the market's enthusiasm or anxiety. Discipline, on the other hand, enables traders to remain focused and adhere to their trading strategy even when emotions or other events attempt to distract them. My discipline strategy is two-folds: 1) When I capture a 1 or 3 great intraday moves, I stop for the day. I don't want to give my gains back. I close my trading station and stop watching the market as I'll always end up thinking "oh it keeps moving, I could have made X USD more" 2) It's being patient as it could happen I'm getting ready to trade at 6 am but nothing happens before 5 pm... leading me to wait wait wait.... for a decent setup to appear. This is not a natural skill at all, I acquired it Preparation Proper planning is crucial for trading success. This involves having a sound trading strategy in place as well as a clear grasp of the market and the instruments being traded. It is critical to evaluate and update this strategy on a frequent basis to ensure that it remains effective and current. Preparation also include maintaining current on market news and events that may have an impact on the assets being traded. Reading industry journals, following financial news sites, and engaging in online groups or forums may all help with this. As an intraday trader, I check every morning what are the main events of the day and make sure to not be in a trade or be at least SL/breakeven around macro events such as CPI, FOMC, etc... Risk Risk management is an important component of trading. This involves knowing the degree of risk associated with various instruments and techniques, as well as ensuring that only a suitable level of risk is taken on given the trader's risk tolerance and money. It's vital to remember that profit potential is exactly proportional to the degree of risk taken. This indicates that although greater risk tactics have a larger potential for profit, they also have a higher chance for loss. I'm a risk adverse trader overall... though when I identify a very profitable potential setup... I push on the pedal for real... meaning I increase drastically my position size. Emotions Emotions may be the deadliest adversary of a trader. If left uncontrolled, fear, greed, and overconfidence may all contribute to bad trading judgments. Meditation helped me a lot for that It is critical for traders to identify and manage their emotions when trading. Setting limitations on the degree of risk taken, placing stop-loss orders to safeguard against excessive losses, and taking pauses as needed to clear the mind are all examples of this. Frustrations Trading may be unpleasant at times, particularly when you're dealing with losses or a streak of bad transactions. Traders must remember that setbacks are a typical part of the business and keep focused on the long-term objectives. Taking pauses, finding support from others, and being disciplined may all help traders get through these trying times. Being ok with being frustrated is also NOT a natural skill and has to be acquired. I know now when to label when I'm frustrated and what to do to relax (meditation, stretching, deep breathing, self-massage, classical music, ...) Frustrations have a compounding effect leading to greater and greater frustrations and losses. And we get frustrated because... we lost money or didn't make as much as we could... The richest traders I know are the ones who are able to disconnect completely their trades from the monetary value. Which kind of impossible when for most 1 trade >= 1 month worth of rent => leads to too much mental pressure and stress. Failure Failure is an inevitable part of the learning process, and traders must understand that it is OK to make errors. What matters is how traders react to and learn from their errors. It's critical to assess what went wrong honestly and make the necessary changes to prevent repeating the same errors in the future. Hesitation Hesitation may be detrimental to a trader's success. In the fast-paced world of trading, traders who are hesitant may lose out on chances or join transactions too late. Traders must make judgments swiftly and confidently, while also understanding the possible risks and benefits of each deal. Journey Trading is a journey, and traders must approach it with a long-term view. This entails accepting that there will be ups and downs and being dedicated to ongoing learning and growth. Setting reasonable objectives and celebrating minor accomplishments along the way are also crucial. Thank you for reading David

Education

The 5 Outcomes Of a Trade | How not to blow your account Successful traders know there are 5 outcomes that can come out of a trading position. When managed well these outcomes can lead to great success. However, when manage badly can cause disaster to a trader’s account. Below I’ll highlight and discuss the possible 5 outcomes of a trade and how you can manage them. 1. Small Profit This is when a position ends in a very small profit, for trend traders, this is usually the case. However, in this situation, there is no loss. 2. Small Loss This is when you lose a small amount at the close of your position. This is part of normal and good trading. In fact, you should cut your losses early. Taking small losses or cutting your losses early will help you stay in this business long term. 3. Breakeven This is a position where you really didn’t make or lose any money. They’ll come too, they are not necessarily bad trades. These types of trades may just mean you should find re-entry to the position or may just be a quick exit without a loss or profit. 4. Big Profit This is when a position ends in a very big profit. This type of trade does not come too often but when they do come they are the trades that move your general account return for the period to the next level. As a trader, these are the type of trades you should look forward to. 5. Big Loss This is when a position ends up closing at a very big loss. This type of trade should never happen on your trading account as a pro-trader. This is the type of trade that can blow your trading account. It’s why you should know how to cut your losses quickly and take a small loss. I’m glad I’ve been able to share with you the possible outcomes of a trade and how you can manage them properly. A simple knowledge like this can suddenly turn your trading account to become profitable. Please, like this post and subscribe to our tradingview page!👍

Education

by EliteTradingSignals

The Biggest Mistake Novice Traders Make When Learning To Trade I wasted a lot of time from years one to four in my trading career. Being scammed led me to decide to create my unique trading strategy. I used the course material I bought and google to do so. It worked but after years of pain and suffering. If I had continued searching for a legit trading coach, I would've succeeded much quicker. But I'm grateful because I learned a valuable lesson, which is to always... Start By Mastering An Existing Trading Strategy Before Creating A Brand New One. Ignoring this advice, especially as a novice trader, will stop you from succeeding on time. For that reason, trying to create something new that you don't have experience with is useless. Because it will waste the mental energy and time you need to master what you already have to move forward. Thus committing to grasp the details of a trading strategy will save you from mental battles that hinder your growth. You'll also free up time to develop the following key ingredients for trading success: 1. Trading and Risk Management (Business) Plan. 2. Risk Management edge. 3. Psychological edge. 4. Journalling Habit. With that said, let me show you how to flourish as a novice trader, below. Find a legitimate trading coach with a proven track record. Having a professional trader coaching you through your journey will make it a bit easier and more fun. But there aren't many legitimate professionals who will make that possible. The industry has a lot of scammers who only make money from selling courses. That's not a problem though as there are traders who live off trading. Your job is to find them. How? Do research before buying a course: 1. Pick 2-3 traders you perceive as legitimate. 2. Check if their course will help you develop the 4 ingredients for trading success. 3. Check the coach's Trustpilot for course/community reviews. 4. Do research by contacting people who have bought it. 5. Ask for the coach's trading (Myfxbook) statistics. 6. Join their free communities to ask questions. Once you’ve found your perfect match, focus on studying and mastering his/her course material till you become a profitable trader. And while doing that teach other people your skill for free. This will quicken the process of learning, understanding, and mastering. After that form new trading strategies to maximize your gains and sell to other people for extra cash. Following the advice above, will save you years of pain and suffering in exchange for fun years of rapid growth and success. So trust the process and you’ll make it.

Education

Forex Market: Who Trades Currencies & Why The foreign exchange or forex market is the largest financial market in the world – larger even than the stock market, with a daily volume of $6.6 trillion. The forex market not only has many players but many types of players. Here we go through some of the major types of institutions and traders in forex markets: Commercial & Investment Banks The greatest volume of currency is traded in the interbank market. This is where banks of all sizes trade currency with each other and through electronic networks. Big banks account for a large percentage of total currency volume trades. Central Banks Central banks, which represent their nation's government, are extremely important players in the forex market. Open market operations and interest rate policies of central banks influence currency rates to a very large extent. A central bank is responsible for fixing the price of its native currency on forex. This is the exchange rate regime by which its currency will trade in the open market. Exchange rate regimes are divided into floating, fixed and pegged types. Investment Managers and Hedge Funds Portfolio managers, pooled funds and hedge funds make up the second-biggest collection of players in the forex market next to banks and central banks. Investment managers trade currencies for large accounts such as pension funds and foundations. Multinational Corporations Firms engaged in importing and exporting conduct forex transactions to pay for goods and services. Individual Investors The volume of forex trades made by retail investors is extremely low compared to financial institutions and companies. However, it is growing rapidly in popularity. There is a reason why forex is the largest market in the world: It empowers everyone from central banks to retail investors to potentially see profits from currency fluctuations related to the global economy. What do you want to learn in the next post?

Education

by UnitedSignals

Learn How to Apply a Position Size Calculator Hey traders, In this educational article, I will teach you how to apply a position size calculator and calculate a lot size for your trades depending on a desired risk. First of all, let's briefly discuss why do you need a position size calculator. Even though, most of the newbie traders trade with the fixed lot, the truth is that fixed lot trading is considered to be very risky. Depending on the trading instrument, time frame and a desired stop loss, the risks from one trade to another are constantly floating. With the constant fluctuations of losses per trade, it is very complicated to control your risks and drawdowns. A lot size calculation, however, allows you to risk the desired percentage of your capital per trade, limiting the maximum you can potentially lose. A lot size is calculated with a position size calculator. It is integrated in some trading platforms like cTrader. If it is absent in yours, there are a lot of free ones available on the internet. Step 1: Measure a pip value of your stop loss. It is the distance from your entry level to your stop loss level. In the example on the picture, the stop loss is 290 pips. Step 2: Open a position size calculator Step 3: Fill the form. Inputs: Account currency, account balance, desired risk %, stop loss in pips, currency pair. In the example, we are trading with USD account. Its value is $20000. Trading instrument is EURUSD. Step 4: Calculate a lot size The system will calculate a lot size for your trade. 0.069 standard lot in our example. Taking a trade on EURUSD with $20000 deposit and 290 pips stop loss, you will need 0.069 lot size to risk 1% of your trading account. Learn to apply a position size calculator. That is the must-use tool for a proper risk management. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️

Education

by VasilyTrader

Reflecting on 12 years of Trading - Do's and Dont's Hello traders, Feeling a bit emotional today while writing this piece of content. From my trading journal I kept updated for more than a decade... I want to share what differentiate a profitable trader from the crowd (losing money) In trading, you are guaranteed to lose your time and money if one: can't sit on his/her hands when there is nothing juicy to trade plan trades he/she never execute and execute trades he/she never planned let emotions from the last trade(s) affecting his/her next trade(s) can't understand markets can remain illogical longer than he/she can remain solvent end your trading day with his/her last trade... it must end when one has journalled them all and learned lessons bury his/her head in the sand instead of studying the mistakes made wants to forget previous mistakes... you have to remember them...writing them down on a post-it and having them staring at you whenever you take a trade. Great process to remind to not repeat the same mistakes. doesn't add onto winners because doesn't know how to identify strong momentum... instead take profit too early is confident when he/she should be fearful and vice-versa treats trading like an entertainment and not a job Feel free to read my numerous other educational FREE content from my profile page Thank for reading Dave

Education

Fall of USD as Global Reserve Currency If you give someone a button to print money, they will press it 1,400 years ago the Roman republic inflated its currency until its empire collapsed USD used to be backed by gold, but that ended in 1971 This allowed governments to print endless money Hyperinflation is just a matter of time The US government learned to overspend and print the difference The debt is now $31 trillion and $100 trillion in liabilities The only way out is printing more money But destroying the savings and hard-earned tax money of citizens Global reserve currencies change every 90 years So, Monetary Switch is inevitable Checkout Venezuela's 2013- mid-2020 Inflation data The paper that is used to print a dollar is not actually worth a dollar. The paper does not have value, it simply represents the value. It is not money because it holds no individual value. To take it a step further, dollars are actually the OPPOSITE of value. Dollars are debt. A dollar is a PROMISE to pay back debt. The U.S. is over a trillion dollars in debt. A trillion is “1” followed by 12 zeros. It’s a thousand billion. A trillion seconds is 32,000 years. A stack of $1 bills would be 68,000 miles high. So how do we pay back such monumental debt? Taxes. It’s painful, but it’s obvious. So, the dollar is the PROMISE of the U.S. government to pay back over a trillion dollars of debt by taxing its citizens. And, to kick you while you are down, the debt is still growing. The dollar is actually debt. That is why the smart rich don’t work for dollars, they work for assets like BTC and GOLD Thank You for Reading. Like and Share!

Education

How To Stay Motivated When Trading Hello everyone, Trading can be a challenging and often unpredictable pursuit. It’s easy to get discouraged and lose motivation when faced with setbacks and losses. But, with the right mindset and strategies, you can stay motivated and on track to achieve your trading goals. 1/ Set clear and specific goals. It’s important to have a clear idea of what you want to achieve in your trading. Set specific, measurable, achievable, relevant, and time-bound (SMART) goals that will keep you focused and motivated. For me it was, with my previous job I was making X USD per month, I want to make that money (after taxes) off my trading. Which meant, making 2X my income assuming a 50% ish tax rate (20% VAT + 33% tax on capital gains) I don't agree with those recommending to leave your 9 to 5 jobs if you make X USD with both your trading and your job. To keep things equal, you need to make 2X USD off your trading 2/ Create a trading plan. A well-crafted trading plan can help you stay disciplined and on track. Your plan should include your goals, your strategy, your risk management rules, and your expectations for your trading performance. Journaling everything is important, I wrote an article about it here: I also journal how I slept, how I worked out, what I ate, what went well, wrong and why. It helps my brain registering that going to bed at 8:30 pm is optimal for me, working out at 10 am is perfect for me, etc... 3/ Stay focused on the long-term Trading can be a roller coaster ride, with ups and downs. But, it’s important to stay focused on the long-term and not get too caught up in short-term fluctuations. Keep your eye on your goals and your trading plan, and don’t get sidetracked by short-term distractions. Seek out education and support Trading can be a lonely pursuit, and it’s important to surround yourself with like-minded individuals who can provide support and guidance. Join a trading community, attend webinars and seminars, and seek out mentors who can help you stay motivated and on track. Most trading communities are created by gurus who never traded in their life. They don't even take the trades they're sharing to their paid subscribers. If you're joining a trading community, make sure to fact check everything... Which is hard to asses because even a trading report can be photoshopped Celebrate your successes Trading can be a frustrating and stressful pursuit, and it’s important to take time to celebrate your successes. Acknowledge your wins, no matter how small, and reward yourself for your hard work and dedication. This will help keep you motivated and focused on your goals. Whenever I make my weekly USD goal, I celebrate with a restaurant When I reach my monthly USD goals, I treat myself with a 2-3 days holiday somewhere nice Conclusion By setting clear goals, creating a trading plan, staying focused on the long-term, seeking out education and support, and celebrating your successes, you can stay motivated and on track in your trading. Keep pushing forward, and don’t let setbacks and losses discourage you from pursuing your trading dreams. You got it guys!!! PS I wrote a lot more FREE trading educational content you'll maybe enjoy too Dave

Education

Why I'm Trading With The Trend and I'm not A Contrarian Hello traders 1/ Trading with the trend, also known as trend trading, is a strategy that involves buying and selling securities in the same direction as the underlying trend in the market. This is in contrast to trading against the trend, which involves taking positions opposite to the direction of the trend. The first one for me is easier on my mind... I don't like trading like Michael Burry front-running everyone months/years in advance and being double digits percent negative PnL during that period. I don't like it because it's draining, uncomfortable, unpleasant and I become an awful human being mean with everyone.... I've been journaling my trades for a decade, and read trading journals of hundreds of traders... While TikTok/Instagram teaches us we have to be contrarian and goes against the crowd.... our brains aren't wired for it... maybe because we're social creatures... who knows. I really don't "care" of being among the first ones on an investment/trade opportunity. I'm here to make money, it's a marathon, not a sprint. What I share is personal of course but I'm sharing it because I manage a community of traders and I'm speaking with them, they're sharing with me their feedback. Even trading intraday against the trend, I'm not profitable - I'm just not made for that, I accepted it. Most of my contrarian trades are losers An important caveat though, for investing, when you see a security down 60/70/80/90% and the company behind keeps printing cash like crazy and the fundamentals are still great, I would invest SPOT for a long-term trade. I wouldn't do it with derivatives due to trading fees to pay every day. 2/ There are several reasons why trading with the trend is generally considered more profitable than trading against the trend. First , trend trading allows traders to capitalise on the momentum of the market. When a security is in an uptrend, for example, it is likely to continue to rise as long as there is buying pressure. By buying into the trend, traders can take advantage of this momentum and potentially profit from the upward movement in the price of the security. That's how I designed my trading method, first we let a bigger timeframe signal being displayed on candle close, then we enter in the lower timeframe signals in the same direction. Second , trend trading can help traders avoid false breakouts. A false breakout is when a security breaks out of a trading range, only to quickly reverse and move back within the range. Trading against the trend can often result in traders getting caught in these false breakouts, resulting in losses. By trading with the trend, however, traders can avoid these false breakouts and potentially profit from the continuation of the trend. Third , trend trading can help traders manage their risk. When trading against the trend, traders are essentially betting against the market, which can be a high-risk strategy. By trading with the trend, however, traders can reduce their risk and potentially improve their chances of making profitable trades. In summary, trading with the trend is generally considered more profitable than trading against the trend because it allows traders to capitalise on the momentum of the market, avoid false breakouts, and manage their risk. By following the direction of the trend, traders can potentially improve their chances of making profitable trades. Thank you for reading Dave

Education

7 Stages to Financial Freedom and How You Can Get There Today we will discuss the stages you go through to reach freedom and how you can achieve it with awesome thinking models. The journey to financial freedom includes seven stages. 1. Clarity This is the stage where you are clear about your current financial position and where you want to be. 2. Self-sufficiency This is the stage where you can bear all your expenses by yourself. You are not dependent on anyone for your survival. This also means you earn enough to sustain your expenses. 3. Breathing room This is the stage where you have saved enough to sustain yourself for a couple of months, even if you lose your source of income right now. 4. Stability This is the stage where you have paid off all your debts and you also have a saving to sustain you for at least 6 months in advance. 5. Flexibility This is the stage where you have saved enough money to sustain yourself for two years in advance. 6. Financial independence This is the stage where your money earns more for you. It’s when you have enough investments and savings that the return you get is enough to sustain your expenses without working. At this point, you work on something because it’s your hobby, and not to earn money. 7. Abundant wealth This is the stage where you have accumulated so much money that you would not be able to spend all in your lifetime. But how do you progress through these stages and achieve financial freedom? Here are some awesome thinking models you can use to head towards financial freedom. 1. Time is more valuable than money. 2. Compounding can help you achieve it earlier 3. Make money with a side business 4. Learn to sell stuff As it should be your ultimate financial goal, it is never enough to talk about achieving financial freedom. I wish you luck, dear traders. Hey traders, let me know what subject do you want to dive in in the next post?

Education

by TopTradingSignals

Trading with 0 stress 👉So you see a trading opportunity. It looks like a fair setup. You get confirmation to enter, but you hesitate. You're afraid of losing money, or you have some anxiety that keeps you from pulling the trigger. This is a problem that almost all traders face at some point in their trading career. I too have suffered from fear of losing money and this problem has led to other mistakes that have stopped me from executing my best trades. Today I share my process of what I did. To reduce my anxiety while trading and the actual steps I took to improve my trading execution. ❓ Do you think the color of the candle affects you while trading? Of course it does. Feel free to tell me if this sounds familiar in the comment section. You enter a long trade expecting the market to go up. You gain a few %, then the price turns against you and forms a red candle. And you start watching the movement, especially each candle pointing down. And you focus on the red color of the candle. 😱You get more and more anxious. When another red candle forms. This was a big problem for me in my early years. I closed my trades after a few minutes. When I saw more red candles below my entry point. The solution to overcome this is simple: 🧨 Change the color of the candles to one color. This way you will only track the price and its range. Let me ask you, which of the texts on the screen is the one that is easier to read? The single colour or the multi-colour? There is a phenomenon in psychology called visual perception. Your brain is always looking for patterns in commerce. If you use multi-coloured candles, you reduce your ability to recognise patterns. Let me repeat that. Your brain is looking for patterns, and one of those patterns is similar colors. Colors affect your brain, your emotions, your feelings. Your psychology, potentially your trading ability. To trade best, you need to trade in a neutral, unbiased state of mind. I've bought in the past because of fast moving red or green candles, I've made bad trades, both on entry and exit. If you get anxious during an open trade, use candles of the same color. So try this simple tip to reduce your reaction to price movements. Change the colour to anything but not to red. Blue or green, yellow or white candles. Just stay away from red and give me a feedback in a week or so. I find myself calmer using a single color for the up and down candles. Maybe this little brainstorming session will help relieve some of the anxiety. 👉 Here's another situation. You see a long opportunity. The price is around the key level and you need to decide. You pull the trigger at, say, $50. You say to yourself, "Wait, I'll wait until... until the market drops a few cents. The market drops to $50.02, but you're still waiting. And then the market goes back up to $50.10 and... you say to yourself, I'm not getting in now. That's a worse price than five minutes ago. I'll wait until it goes down again. And of course the price never comes back. It goes up without you. And now you're frustrated because you anticipated the move, but your perfectionism... prevented you from pulling the trigger. Fear of losing money and perfectionism can lead to irrational behavior, overanalyzing, overthinking and slowly draining your mental energy. 🟢 One of the problems I personally struggled with was. That I wanted to be perfect in my trades. I was looking for the perfect opportunity. You know, when you enter and the price never goes against you, not even one %. Being a perfectionist in trading is stressful and always being on the edge doesn't help you make good trading decisions. In most cases, when you are waiting for the perfect entry, you realize you just missed a big move. Trying to time your entry precisely, at the entry point, is a foolish undertaking. Perfection can be your biggest enemy in trading and can cause you a lot of stress. 🟢 Here's how to reduce that anxiety. Use ranges instead of exact prices. As a day trader, you will not be able to track price movements every minute of the day. That's why you should use price ranges instead of exact prices. This gives you some flexibility. And of course you still need to be strict with yourself when executing your plan. Good traders are vigilant, yet patient. When a lineup they've been waiting for pops up, they grab it without hesitation. But until that time comes, they won't budge. The price fluctuations that lure other traders. They choose to reserve energy for what they are prepared for and ignore everything else. They don't chase the market, they let the market come to them. The opposite of this is forcing trades. You know the feeling when you wait for a trade, see some activity, and pull the trigger early. You force the trade. I did that almost every day. 🟢 Here's the solution. Stop using market orders and use limit orders instead. Basically let the market come to you. Once you have selected the assets you want and done your analysis, you need to determine the prices where you will buy and sell. Your goal is simply to buy and sell at the best possible prices, and use your research to identify reasonable prices in advance. Not only will this help you get a better deal, it will also help you avoid emotion-based trading. The simple solution to reducing stress and anxiety is to only act when the conditions are what you expect. Letting the market come to you is a difficult but valuable skill to learn. So forget market orders and use limit orders. This will reduce your emotional involvement and prevent you from making bad decisions. 🟢 If you want to reduce stress and anxiety while trading, you should switch to higher time frames. This will allow you the time needed to make informed decisions. I know you will find it difficult at first, but you will continue to struggle with anxiety and stress until you make the change. If you are feeling nervous and afraid of losing money, I highly recommend trying the higher time frames. Again, this transition to higher time frames is difficult and most traders are reluctant to switch. But you need to change your environment if you want better trading performance. If you trade in an environment like the 1-minute or the 5-minute chart, you risk the risk of market noise. True, higher time frames don't offer trading opportunities with as much speed, but the signals generated are more reliable and have a much higher chance of working. Better to trade a handful of good quality trades. Rather than trying with many poor quality trades. Daytrade trading is exciting, but it also requires you to monitor price movements for many hours. Most daytrade traders initially like the excitement and moving on lower time frames, but it's only a matter of time before they experience mental burnout, and once mental discipline is exhausted, greed, frustration, anger and impatience will bring bad trades and send you into a dangerous state of mind from which it is difficult to recover. So move into higher time frames. You'll only spend a fraction of the time in front of the charts, and you'll be at less risk of burnout. After a while, you'll find that it becomes much easier to work with a cool head while maintaining mental and emotional discipline. 🟢 How often do you enter trading? The setup looked great, then the price went straight away to your stop-loss before it got to your take profit level without you. Without profit, this is probably the most frustrating scenario many traders face on a daily basis. Because you fear losing money, you tend to use small stop losses. You don't want to make a mistake and try to keep your losses small, but keeping your levels too close to the entry candle is a recipe for having your account cut to pieces. A tight stop relies on you having very precise, near-perfect entries, and we've already talked about perfectionism in trading. If you repeatedly see your stops being hit regularly before the price turns in the original direction, it is very likely that you have placed your stops at levels that other traders use, especially if you trade on obvious price movement patterns. My advice is to start trading with a wider stop loss and a lower position size away from the entry. The position size you use should be small enough that neither a loss nor a gain will affect your mindset and ability to continue trading, only then will you really focus on proper execution. 🟢If you are trading the markets with your hard-earned money, but you don't know what your trading strategy is and you don't trust your market analysis skills. You probably shouldn't be trading with a live account. One of the biggest reasons why you are nervous and afraid when you trade is that you will lose your money because you don't trust your own trading skills. You may not have learned a trading strategy. You do not have a trading plan, you do not keep a trading diary. You are simply not prepared to take risks. Real money at risk in the markets. That is why you feel fear when you trade. Basically, trading anxiety comes from not knowing what you are doing. I have talked many times about the value of a trading log. The key is to use your trading log to keep track of when you are at your best and when you are at your worst when it comes to your trading and your emotions. I pay close attention in my trading diary to times when I make mental mistakes, such as not trading a good trade when I know I should. When I am afraid of losing money or avoiding a good trade, I look for triggers and patterns. Was I confused? Did I make that mistake in a particular market situation? Do I have certain feelings and emotions from previous trades? These are the intangible factors that you need to track in your trading log. 🟢 Most traders are fixated on short-term results. They make money by pressing a few buttons and don't pay attention to the process that makes it possible. They make mistakes, learn from them, and correct them over and over again. Everyone thinks about winning, but few think about the benefits of losing . In my experience, most wins are directly attributable to a big losing trade that I learned from making money in the past. As a trader it makes no sense if you don't understand why/why you can't repeat. Similarly, losing money is a valuable experience. If you understand why you lost. Paradoxically, you cannot understand why you win. Without first understanding how you could have lost in the same situation. So change the way you think about losses, because they will show you the direction of repeatable victories in the future. If you've already lost, at least don't lose the lesson. Take care my friend and have a good trade!

Education

by CryptofolioHungary

Institutional / Smart Money Vs Retail Psychology + Rules 🎃 Many people approach technical analysis thinking that it is the first and most important thing to learn, which in reality should be the last. It is essential to first understand that trading psychology and risk management is the MOST IMPORTANT factor when trading within the market. Even if you have a strong technical analysis (which can never be perfect), you can still lose if you have poor risk management. You can lose even more if you are not patient enough and trade EMOTIONALLY. 🎃 The sad reality is that many professionals who have been trading for years still haven't realized this. I hope this little post will shed some light on advanced and novice traders. Every day I witness traders who make money and don't know why, or lose money and don't know why. One of the things I always like to advocate is that it is better to know why you lost a trade than not to know why you made money on a good trade. These are realistic expectations of the market, there is no simple magic spiral in technical analysis . 🧠 1.) Time frames: institutions (fund managers, funds, banks and whales) think in long time frames and monitor price action based on this (Years, Decades) small investors, retail traders monitor things in low time frames (Minutes, hours, days) 📜 Rule: always zoom out to higher time frame 🧠 2.) Objectivity: Small investors quickly switch between optimism and pessimism because of current price movements and news in the media. It can be a bull market one day and a bear market another day for a small investor. Institutional investors are not sentimental, they assess the growth rate of the market sector, the total market size available, the adoptation/acceptance, the growth of the network, the analysis of revenues (to predict profitability years and decades in advance). If an institutional investor reaches a conclusion, they hold it until the underlying financial situation changes. 📜 Rule: Follow the price not the news 🧠 3.) economic power: Small investors usually have limited money to invest, so they often resort to leverage, which typically results in full liquidity. Therefore small investors (who do not like to buy spot because it is not "cool") can easily be "thrown out" of trading because of the unlimited losses from leverage. There is a reason why 90% of retail traders lose money. Institutionalists brazenly exploit those with few resources and fear. Institutional investors have access to billions of dollars worth of resources and have teams of quantitative/statistical experts who control the automated trading algorithms. 📜 Rule: As long as you are not an expert, buy in Spot 🧠 4.) Influence: Institutional investors have deep pockets and can influence the general sentiment of the market through the press (news, social media and interviews). Institutional investors influence the news that small investors read. Institutionalists are well known for advertising higher prices for retailers to "buy at the top" to avoid FOMO (Fear of Missing Out). They are also notorious for creating tremendous market fear (FUD - Fear Uncertainty and Doubt), which encourages retailers to "sell at the bottom". 📜 Rule: You pay the price for FUD & FOMO!! 🧠 5.) Behavior: Institutions actively participate in futures, options and derivatives markets. Both actively benefit from short-term price cycles as well as longer-term accumulation strategies. Small investors tend to think in short time horizons. They are sophisticated, financially strong and have expertise. Institutions make money by attracting retail investors into the market (via FOMO) and then liquidating their positions (via FUD). In the market, one person's loss is another person's gain. 📜 Rule: News is usually wrong! 👉 Adoption stages Many people misinterpret the exponential adoption process from a forward market perspective. In short: You've probably heard the ingenious question that a scientist found that a lily started growing in a pond and doubled in size every day, then after 30 days covered 100% of the pond. Which day will it cover 50% of the lake? The answer is on the 29th day, as it doubles in size every period. The lake goes from growing 50% to 100% when it doubles in size. It is interesting to note that on day 28 the lake covered only 25% of the sample and on day 27 it covered 12.5%. It is therefore difficult to understand the exponential growth.

Education

by CryptofolioHungary

DEMONS OF TRADING | Don't Think Like This Have you ever wondered what helped all those professionals of Wall Street become successful? You will be surprised, but the key to their reached heights is hidden in their mistakes. Yes, that is right. Most professional and successful traders made many mistakes before they got to the top. Making mistakes is ordinary and sometimes even necessary because you learn when you make them. The crucial point of this idea is never to repeat those mistakes because some errors may cost us a fortune. That is why we gathered 10 most common trading mistakes to prevent you from faults and losses. Little preparation Entry to the Forex market is relatively easy, so people have a light-minded attitude towards trading knowledge. Beginner traders, especially, think that theory is not a big deal, and they will be able to build it up without a peep. However, it does not work this way. Miscalculating the risk/reward ratio For some reason, many traders believe that higher win trades are more profitable than lower ones. Sometimes, this idea even gets paid off, and due to blind luck, trades, where the potential risk exceeds the reward, benefit. However, in most cases, such trades are a sure way to lose money in the longer term. Avoiding risk management Risk management should be the core of your trading because it helps cut down losses. Trading without risk management is like skydiving without a parachute. Neglecting market events Relevant market news is essential as economic events influence the direction of trading during the day. So, if you are not aware of the financial reports or earnings, you might skip the volatility. To win the game, you need to develop your thinking and how you participate in the game. You are in a market trading against professional traders. Your goal is to think like a professional. That is the only way to survive in this game. Please, like this post and subscribe to our tradingview page!👍

Education

by EliteTradingSignals

The Iceberg Illusion: The hidden logic of success We often get mesmerized by someone’s above the surface success and don’t factor in all the below the surface opportunity-costs they paid to achieve that success. This is the ‘iceberg illusion’. It’s been a fav analogy of mine for years. And yet, this just might be a better visual for sport than the ‘iceberg illusion’. You see… the hyper focus on outcomes is one of the biggest failings (or façades) that comes from social media. It creates a false impression of what leads to success. We see the success, but not the work that went into it… The unseen hours, necessary failures, setbacks, crises of confidence, the not-now’s (to the countless asks), the loneliness, the late nights and early mornings; and, all the wobbling that comes before the walking—much less running. There are no shortcuts. There are no overnight successes. The iceberg doesn’t move quickly. It’s not sped up. It just moves consistently; at often a barely discernible speed. What do you want to learn in the next post?

Education

by UnitedSignals

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