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Improve your trading skills with PTAHey Traders! In this video we talk about Post Trade Analysis which we believe it probably the best way to develop your trading skills, trading system and general instinct of trading. Today we traded the DAX for 2 hours with complete focus, focus is a vital requirement for trading success as it allows you to be present and disciplined to follow your trading rules and system. The video explains some things we did good and some things we did bad, of-course the good should be repeated in the next trading session, the bad either improved or removed! Do you do post trade analysis? - Let us know in the comment section below! Have a fab day!
OANDA:DE30EUREducation
by PrimedGroup
Post Trade Analysis: NASDAQ & WTIHey Traders! In this video we go over a brief post trade analysis of the trades we've taken so far today on NASDAQ and WTI. As a practice we highly recommend every one of you guys to actually perform a PTA on your own trades as it is literally the best way to improve as a trader as you will find your good and bad habits quickly. For example if you are not following your entry process you'll quickly understand that you should. Anyway, we will make a longer post about this on Wednesday and explain it in detail, exactly what we do and why we do it! All the best!
BITSTAMP:BTCUSDEducation
by PrimedGroup
How the higher time frames help you to avoid unnecessary losses Hello everyone: Today I want to discuss the importance of higher time frame analysis. Doesn't matter what type of trading strategy, method or style you use, the higher time frame often will help us to strengthen our bias overall and give us a good perspective of the possible direction for the price to go. In addition, it helps traders to avoid unnecessary losses and mediocre entries that will eat up your profits. More often I hear traders will execute trades on the lower time frames, and not factor the overall higher time frame bias and perspective. Although entering on the smaller time frame can potentially give you more Risk:Reward, it's often more risky and trades can easily reverse, then hit the stop loss. This often creates stress, negativity, and revenge trading psychology for traders which ended up blowing accounts. I want to give a few examples of higher time frame analysis, how they can help traders to avoid “traps” on the lower time frames, avoid unnecessary losses, and keep the emotion at bay to trade another day. When having a bullish bias on the HTFs, its good risk management to not consider any short term, bearish sell setups. These sell setups may form on the LTFs, but they can easily not continue to your desired target, and reverse up before you have time to react. In addition, traders hate to see profit come and go. So if a trader has a short position running in some profit, but decides to hold onto the trade, and once the position reverses, traders don't want to exit, and then end up holding a losing position to its SL. Examples: AUDUSD: HTF: Overall bias and perspective in bullish LTF: Many LTF bearish setups/development, but due to going against the HTF, they ended up with losses NZDUSD: HTF: Overall bias and perspective in bullish LTF: Many LTF bearish setups/development, but due to going against the HTF, they ended up with losses AUDCHF: HTF: Overall bias and perspective in bullish LTF: LTF bearish setups/development, but due to going against the HTF, ended up with loss NZDCHF: HTF: Overall bias and perspective in bullish LTF: LTF bearish setups/development, but due to going against the HTF, ended up with loss NZDCAD: HTF: Overall bias and perspective in bullish LTF: LTF bearish setups/development, but due to going against the HTF, ended up with loss SILVER: HTF: Overall bias and perspective in bullish LTF: LTF bearish setups/development, but due to going against the HTF, ended up with loss
Education
by jojofang0901
19
Managing Drawdowns - Do This When You're Underperforming!Hello Traders. It's been awhile since I last uploaded a workshop. Myself as a full-time trader, to be frank, the past 6 months have been tough for my personally. I've gone through some really bad drawdowns, mostly due to my external pressure that's causing me to have lower performance. In today's topic, I am going to talk about "Drawdowns", which is not something people usually talk about. Social media, Youtube, all these platforms are made to make you 'feel bad'! People are constantly showing off their profits, but who'd willing to really open up to their drawdowns and bad trades? Drawdowns are inevitable in trading, the only you can eliminate drawdown is to not take any trade/ risk. Make sense? From my humble six years of trading experience, i realize most of the successful traders have one thing they are very good at - which is managing drawdowns and negative emotions. Think about it, we're all human, we're all a normal trader, why would some constantly achieving such a high performance while some constantly losing? These are the four simple steps to help you in refining your drawdowns and hopefully get you out of it. 1. Understanding probabilities - While we're in a drawdown (negativity), it's vital for us to take a step back and look at the numbers. Three things to read - trading plan, strategies data, market condition. If you're whatever you do is wrong, that's usually due your forcing trades during uncertain market environment/ condition, try to re-assess everything. 2. 3R Process (Review, Reflect, Revise) - This is the most important process i've utilized for years to improve my trading consistency. Review your trading plan and all your journaling, then reflect what's the root of the problems, then find solutions around it. Remember to simplify things! By over-complicating your journaling, trading plan, or trading systems, really don't help things to be better. 3. Eliminate negativity - Us, especially as a full-time trader, is common for us to blame ourself due to our bad decisions. But sometimes understand that no one wants to be in a drawdown, as it is all probability-based. Who want to lose money? But over the years, i found that the most successful traders out there have one very common personality - Confident. - Be confident on yourself, that's the easiest element that allows you to execute trades consistently and fearlessly. Believe in your system, the drawdown is only temporary, you still got a long way to go. FInd a solution, fix it. 4. Take a step back - Re-evaluate - When you're in a drawdown, most likely your rational behaviour and emotion have been negatively impact. So stop trying to force things, take the time you need to refresh your mind, re-set your mental state then come back stronger. - By not giving yourself time to re-set your mental state, you're not just halting your performance, it could be self-sabotaging as well. Because by that means you're not applying the 3R process, certainly not fixing the problems too. - Most of the losing streaks have one common losing pattern (that is hidden), so it is our accountability to find our the root of the problem, then frame a set of routine and action plan to solve it. Hope this short workshop helps you a little bit. Let me know in the comment section below what's your worst drawdown and how do you fix it! Do not forget to like if you enjoy the content, and share with someone who'd enjoy reading this.
OANDA:XAUUSDEducation
by TraderNeoh
Calculate your 1% risk per Trading Account to identify 3:1 R:RHello traders: Lately there are more and more newcomers in my community, and some are not quite familiar with risk management, especially when it comes to calculating R:R based on 1% of your account size. Risking 1%, simply means risking 1% of your total account size. For example, $1000 account size, is $10 per risk at 1% of trading account $100,000 account size, is $1,000 per risk at 1% of trading account The goal is to forecast and plan out an entry that will potentially give you at least 3:1 RR per trade or more. Meaning by risking 1%, $1000 of your $100,000 account, you should look to achieve a $3,000 profit or more, hence giving you 3:1 RR, or +3% profit. There are many websites that help you to calculate your R:R and position size in relation to your account. Utilise them to calculate exactly your LOT size position in relation to your SL amount so you have a proper risk management in place. Any questions, comments or feedback welcome to let me know. Thank you Risk Management: When/How to move SL to BE and to profit in a running trade ? Risk Management: How to filter trading opportunities if multiple setups are presenting entries: Risk Management: 3 different entries on how to enter the impulsive phrase of price action Risk Management: What Is Capital Partitioning ? How will it help you as a trader ? Risk Management 101 Risk Management: How to set a Take Profit (TP) for your trades Risk Management: How to Enter and set SL and TP for an impulse move in the market Risk Management: How to scale in the impulsive phrase of the market condition? Risk Management: Combine everything you learn to prevent blowing a trading account
Education
by jojofang0901
12
Trading Psychology - Long Term Sustainability in the MarketHello traders: Today I want to discuss an important topic on long term sustainability. It is no surprise that trading any financial market has proven to be difficult, and stressful. Many new traders come and go so fast in the industry, and it's often due to the wrong mindset, trading plan, risk management and expectations. I want to focus on the psychology part of trading for sustainability, as I have made many trading plan, risk management related videos already, though I can discuss more on mindset and emotion today. My vision in trading psychology has always been: Consistency, and Sustainability . These are a few things I tell myself each and everyday in my trading journey to help me stay sustainable in the market. -I am NOT here to get rich quick, traders who have that mindset often failed fast and quit -I am here to make a reasonable % return per month, based on proper risk management and trading plan. -I understand in order to make a ridiculous return per month, it requires over-risking and over-trading, but it's unsustainable on a larger account size. I do not wish to lose a larger account or ability to trade for larger prop firms’ accounts. -I understand the uncertainty in the market, any strategy, method and approach will run into drawdowns and losses. -To prevent revenge trading, over trading and over leveraged, proper mindset and emotion are needed to survive and sustain in the market -I believe in long term sustainability, and looking to “win the lottery” by going all in on trades. 1 % per account risk with 5-7% return per month is reasonable, achievable, and sustainable in the long run. These are just a few pointers and reminders I tell myself each and every day. This year will mark my 9th year in trading, and I am thankful to have gone through all these trading experiences in the past that made me a better trader today. I am still continuously learning and growing, very happy with the consistent and sustainable approach that I do. I am sure there are many other traders with different opinions, methods, approaches in trading, with different mindset, expectations and goals. I respect all trading strategy, perspective and options. At the end of the day, it's up to each individual trader to identify their journey and what method they wish to implement in trading. I sincerely hope I can help some of the traders to understand the importance of long term sustainability, and that will enable traders to continue to be a part of the financial market for the years and years to come. Thank you :) Jojo Risk Management Educational Video: Risk Management: When/How to move SL to BE and to profit in a running trade ? Risk Management 101 Risk Management: Combine everything you learn to prevent blowing a trading account Trading Psychology Educational Video: Trading Psychology: How to deal & manage losses/consecutive losses in trading ? Trading Psychology: Revenge Trading Trading Psychology: Fear Of Missing Out Trading Psychology: Over Leveraged Trading Trading Psychology: Is there Stop Loss Hunting in Trading ? How to deal with it ?
Education
by jojofang0901
15
What Are My Daily Trading Routine As A Consistent TraderHello everyone: Today I want to share my personal daily routine in trading. Many have asked me about how a typical day of mine would be, and I have no problem sharing that with everyone in hope to provide some examples on how you can construct your own day as well. It's important to know that each person is unique, has different priorities, business, jobs, family, and other things to attend to. So it's best to understand that what I propose here is more of a guideline that you can utilize, and ultimately comes down to your own schedule and time. I am a strong believer in not needing to be on the chart all day long, in order to create a healthy trading lifestyle. Morning 6-9 AM -check the chart, go through all my flagged watchlist -prepare for my weekly and mid-week market update live stream OR private quick daily market updates -answer any questions within my community, platforms, and areas -go on with my day (family, other businesses) -wont need to check the chart again until the roll over time -will set alerts to monitor any trades, entries..etc Afternoon 3-5 PM -after the day is rolled over -construct a new daily watchlist for the day ahead -check or uncheck flag in my watchlist to see if there's anything developed or confirmed my forecast/analysis -answer any questions within my community, platforms, and areas -go on with my day (family, other businesses) -wont need to check the chart again until my night time before London Session starts -will set alerts to monitor any trades, entries..etc Evening 10-11 PM -check the chart, go through all my flagged watchlist -will set alerts to monitor any trades, entries..etc Always remember to have a healthy trading lifestyle and don't get burn out Have priorities in life Thank you all :)
OANDA:XAUUSDEducation
by jojofang0901
22
LET'S GET REAL: Fear of Losing! Hey Traders, Most traders battle it. I myself had to progress past this in order to achieve consistent returns trading the markets. It is seen as one of the hardest challenges to pass in terms of emotional discipline. Understanding yourself better so you can make decisions in a calm, composed and consistent manner is crucial to success. Today I wanted to touch on that. I wanted to talk about the fear of losing what spurred from my fear of losing, how I progressed through it (it still creeps in from time to time). Hopefully you can take from my story and how it improved your trading or how it can help you progress past that fear of losing. If anyone has any questions or maybe some other stories in the way they progressed through a fear of losing or a fear of being a failure, please feel free to share in the comments and I'll get back to you as soon as possible. Have a fantastic trading week!
Education
by the5erstrading
6
What Does Consistency Mean In Trading ? Hello traders: Today let's talk about “consistency” in trading. Many traders understand they need to be consistent, but what exactly is consistent in trading ? To me, it's not just making consistent “profit”, rather it's being consistent with your trading strategy, risk management, trading psychology, mindset and emotion. Let's take a look at a few examples of consistency in trading: Consistency in profits: More often traders think about hitting a set amount of % return in consistency. This is certainly one way to look at it, but I would say to challenge ourselves to do more. Each and every month, the market will develop differently, hence our profits are not gonna always be the “same” each and every month. Some month with more profits, some month with more losses. We need to have the ability to stay “consistent” no matter what the market condition is. Consistency in strategy and Trading Plan: Remember, there are many different trading strategies out there. The ability to stay “consistent” with your current trading strategy, and not jump from strategy to strategy. Even if your strategy right now isn't getting any entries available in the current market condition, while others are entering trade, you need to stay consistent with your strategy and let the probability play out. Understand no strategy can catch every move in the market. Some will catch this particular run, while others will catch other developments. Consistency in risk management: When you are at a series of drawdowns and losses, the ability to stay “consistent” with your risk management. Not risking more than 1%, not entering more than 2-3 trades at a time. No revenge trade, and/or over leverage trade. Respect your SL and honour the SL. More often traders fall into this stage while they take a number of losses and throw their risk management out the window. Consistency in mindset and emotion: When your strategy isn't playing out on a short term, the ability to stay “consistent” and not to start randomly taking trades based on FOMO, Greed and emotion. Sometimes traders get impatient and feel like waiting for setups to happen is a hassle and they don't want to wait. This is when they start to rush their trading journey and backfires on them. Consistency in your goal: Set goals for your result and progress. The ability to stay “consistent” with yourself and don't let external factors like social media, fake guru, scammers affect you and your goal. If you plan to have 5% per month profit, then don't let other people affect you in a negative way. Everyone trades differently, and with different strategy, method and approach. No need to compare and compete with others, rather, with yourself each and every year. Below I will forward some good educational videos on the above topics that we have discussed: Trading Psychology: Revenge Trading Trading Psychology: Fear Of Missing Out Trading Psychology: Over Leveraged Trading Risk Management: Combine everything you learn to prevent blowing a trading account
Education
by jojofang0901
17
Interest rates, Inflation and how to trade it.Hey Traders, Massive week this week fundamentally for the Forex market. 3 big interest rate decisions being released so I thought there was no better time than now to have a chat about what it is, what it indicates and finally, how traders profit from it. Fed and BOE almost guaranteed to hike rates, RBA is sitting unsure. Have a watch of the video and I am more than happy to have a discussion in the comment section! As always, have a fantastic trading week and I wish you all many profits.
Education
by the5erstrading
4
The basics of back-testing (HOW TO)Hey Traders, Today I wanted to follow on from the fantastic amount of comments that we are receiving from the previous video, "stop strategy jumping." It seems that so many of you took a whole heap of value from that video and for that I am very thankful and to everyone who reached out and told their story or let me know that it really touched them. As highly requested, I wanted to run through a basic way to start getting the grips with strategy back-testing. How can we go about back-testing our strategies to ensure that they are profitable for us in the long run? Take a look, have a listen and tune in. Set up an excel sheet the way I do and get back testing. There's only one way to do this, and it is to do the hard work. Let me know what you guys find. I can go more in depth in the future, but for now. It seems like most people wanted to get to grips with the absolute basics, which is what I'm going to show you today. If you have any questions at all, please the comment section is the place to be. As always, have a fantastic trading week and a fantastic weekend traders. I'll see you very soon.
Education
by the5erstrading
12
LET'S GET REAL: Stop Strategy Jumping!Hey Traders, This one is going to be a little bit different, a little bit deeper and a little bit harder to listen to rather than usual technical analysis. I recommend you sit down and listen to this. Have a think whether it relates to you or whether you found yourself in this position, or even if you've gone through this position and share your experience on how you go through it. A lot of traders struggle with their strategy, jumping from aspects of trading and that's why so many educators out there make a lot of money off of them. It is time to stop. In this video I outlay a challenge that I put to all the traders who may find themselves in this position to sit down and to thoroughly test their current or previous strategies and understand them on a deeper level. No more jumping around, no more looking outwards. Let's start looking inwards. Let's see the data that we have handed to us and what we can do to improve that data. If you enjoyed this video, please leave a comment. Leave a like, if we do get enough likes and comments, I will make a Part 2 on how to go about this with a more depth avenue while using different resources. As always, have a fantastic training week.
Education
by the5erstrading
222
The Element of Time - The Most Underrate Technical Analysis ToolMarket timing is an essential tool whether you're a day-trader, portfolio manager and/or long-term investor. I present to you the most underrated technical analysis tool in the space of retail trading. The purpose of this short educational webinar is to open your eyes to something you don't hear about abundantly because it is the most disregarded aspect of trading in my opinion. As an intraday trader, my main focus is on the speculation of "the next daily candle". However, I first analyze and project on "the next weekly candle". Each weekly candle is broken into 5 individual daily candles, and each daily candle is broken down into 3 main market sessions - namely, Asia, London & New York Session. You'll find that my main focus in this lesson is on the day in which you find a lower / upper wick being created on the weekly candle. More often than not, "Tuesday" typically forms the low of a bullish weekly candle, and the high of a bearish weekly candle. Watch the lesson entirely, take notes, but most importantly, let it open up the opportunity for you to exponentially elevate your trading skillset.
Education
by Maroun4x
9
How to analyze any market from scratch #3Hello everyone: Many of you have asked me to continue making more of these analysing from scratch video, so I have prepared another one here for you today. Not only will we refresh the previous 2 educational videos on this topic, I will go into a bit more details on the confirmation on the lower time frames with multiple examples in the chart. Recall from the previous videos I made, when we want to analyze the chart from scratch, we always start: 1. From the higher time frames (HTF) to identify the impulse/correction phases of the market conditions so we can come up with a possible bias and direction of the current price. 2. Once we have a possible direction and bias, then we go down to the lower time frames (LTF) to also identify the impulse/correction phases which will lead to your confirmation and entry. These are simple steps to follow, based on multi-time frame analysis, top down approach. Many have told me it's not hard to identify the HTF’s impulse and correction, but what can be classified as a LTF confirmation before entry? Let's take a detail look into a few examples: A LTF confirmation is when the price is developing a few more price action structures/patterns that align with your HTF direction and bias. These can be continuation/reversal corrections on the LTF; impulse phases on the LTF that go with your bias on the HTF; multiple corrections within the larger corrections (patterns within patterns)...etc. The more of these LTF price actions you can identify, the more it strengthens your analysis and forecast on the HTF. Thank you Do check out my previous educational contents on this same topic to better learn my approach to analyse any market from scratch. How to analyze any market from scratch #1 How to analyze any market from scratch #2
Education
by jojofang0901
18
How to continue in trading during uncertainty timeHello traders: Recently I received many messages from traders about taking many losses during this uncertain time. What's going on globally right now may have a different impact on all the different markets. Many have told me of your frustration, stress, and negative emotion on losing money and continue to feel defeated. Today I will explain a few things that you can implement into your current trading plan, approach and perspective during this period of time. First, you must acknowledge risk management. Too many traders ignore this key important aspect of trading. Especially during this time where the market can be volatile and irregular. It's in your best interest to understand how to manage your risk. You should have a plan that lists out how your approach would be. For example for my risk management right now: -1% per trade of account capital. -No more than 1 trade on the same currency, unless the first trade is secure in profit. -No more than 2 trades open during a day, max drawdown 2% per day -10-15 trades per month -3 trades maximum per week -Minimum 3:1 RR allow before entry -Will Take profit on average when in profit 3:1 RR. Second, learn to control your mindset and emotions. More often when traders approach me these days, they are telling me they are taking too many trades, chasing profits and revenge trading their losses. All these arise from the mistakes of FOMO, get rich quick mindset, enter multiple trades. IF a trader can truly understand the fact that the market will always be there tomorrow, next week, next month..etc, then it's an easier thing to deal with on a psychological level. You will no longer stress about trying to enter too many trades, worry that the market may not be available tomorrow. Third, less social media exposure. In today’s world, unfortunately in trading, most of the things you see on social media are fabricated and fake. Their sole purpose is to sell you a dream, lifestyle, and easy money concept. ITs always during this uncertain time, you will see more and more of these “gurus” who will show you how much $ they made during this time. Now, I am not saying all are fake or scam, I am sure small # of them are doing well. But, most of the things you will see in your social media feed, are likely to be photoshopped, faked, fabricated to make you believe whatever you are doing is wrong, and you tend to “compare” your result with these people. This ended up becoming very negative and stressful to continue. ITs important to understand trading is one of the toughest professions out there. IT requires so much emotion control, clear mindset, and proper psychology on a regular basis. If you are struggling, it's usually not to do with your trading strategy, but rather your approach, perspective, and perception. So, eliminate as many unrealistic things you might see, and focus on yourself and your journey. Any questions, comments or feedback welcome to let me know. Thank you
Education
by jojofang0901
38
How To Trade Divergence Divergence simply means separation.. When two similar things things---get separated and start going different directions, you have to consider which direction to follow. That's exactly the concept of divergence. When trading, and you spot a divergence, you want to be sure to understand what they are trying to tell you. In this video, I explain the concept of divergences, how to trade them and what to do when you sight one. Be sure to like, follow and comment. I want to see those div trades!
OANDA:NAS100USDEducation
by lazyluchi
Being a weekend trading warriorYour results on Monday will be influenced by the work that you do on the weekend, specifically Sunday. As an intraday trader I constantly think about my trading. Here are a few points which every trader should focus on, 1 - Mapping our mental weaknesses We all have mental challenges, some of us have a lot of FOMO, while others oversize and over trade, you know what is holding you back as a trader... FIND IT AND WORK ON IT! 2 - Reviewing trades (winners & losers) Search for the plays where you can add size, search for patterns that you can exploit next week, review your best trades. What trades worked best for you? more of these on Monday. What trades are not working for you? Eliminate them. 3 - Checking for key levels & patterns The best in every industry practice and train... yet probably 90% of traders never really do any kind of practice, they search for a strategy and then cannot wait to apply it to the markets... real traders work on their trading hence they create REAL SKILLS!
BITSTAMP:BTCUSDEducation
by PrimedGroup
5
How To Trade Hey guys, I created a system that would allow you to trade better. I call it the 3-way. This is when the market leaves signs and expects you to spot them. The first is: Pattern. For pattern, you can decide which is it for you.. P.S: You don't have to use my pattern. However, only use it of that's the common pattern in the instrument you're trading. Secondly, Divergence. Divergences are my go-to anytime, any day. Reason is because, divergences show up as a warning. Pay attention. Lastly, Structure. Even after finding a pattern and divergence, the structure has to be in-line with the confluences. watch to digest! leave a like, follow and comment if you found this useful. Cheers, Lazyluchi
OANDA:NAS100USDEducation
by lazyluchi
4
Things you should consider in trading to make it as a career Hello everyone: 6 points I like to share on what you should consider in trading to make it as a career. 1. Trading is not a get rich quick scheme Contrary to what social media, scammers, fakers and fake trading gurus want you to believe, trading is NOT a get rich quick scheme. Those who believe such usually end up over trading, over leverage, blow accounts and give up. (Trading is actually a reasonable method to yield money return. It is how consistent traders make a return on their original investment/deposit with proper risk management, strategies and methods. ) 2. Technical/Fundamental Analysis dont work all the time. Trading ANY sort of strategy, method or style will always have a percentage of failure and losses. Its probability, not right or wrong. The main goal in trading is to make sure you have proper risk management, good Risk:Reward ratio, and look for consistency, sustainability in the long run. (Sometimes traders blame their strategies, method, style, mentor and other things due to their trades not working out. Not trading strategies can yield 100% strike rate, if there is, there will not need any risk management, and anyone trader should get rich) 3.Limit your risk per trade Proper risk management is super crucial to a trader’s success. Many traders often risk way more than their accounts can handle, after all what's 10%-20% of a $100 to many people ? But would you risk 10-20% on a $100,000 account ? and lose $10,000-$20,000 in one trade ? (Too many new traders deposit a small amount of money hoping it can double and double and double. But they often over risk, over leverage the account. The result is it only take a few trades to totally blow the account up.) 4.Must use stop loss It may have worked out for you a few times where you remove your SL, and the price reverses and you close with profits. But what if the price goes against you more and more? Can you stay mentally sharp enough and continue to hold the trade when the losses pile up more and more ? You more likely can not, which will end up resulting in a margin call and/or blow the account. (In the past I had a trader who approached me and showed me his losses on OIL where he removed his SL and price continued to go against him. IT has come to a point where he reaches margin call, and the broker actually open opposite positions to “hedge” his losses) 5. Don’t over analysis and combine multiple trading strategies, methods and style Over analysis and complicating your charts may lead to confusion and is not necessarily efficient. Most trading strategies do work on their own, but when combined with so many other strategies, it creates conflicts, contradiction and confusion for traders. (Often traders combine too many random indicators, S/R, trendlines…etc all on one chart. It makes it hard to analyze, and have a bias of the direction of the market) 6.Always use a top-down analysis approach. Multi-time frame analysis is key. Always start from the higher time frame to the lower time frame. The higher the time frame the stronger and noticeable the price action it is. Understanding a higher time frame can give you a possible direction and bias. While the lower time frame will be your confirmation and entry. (Have seen many new traders jump onto the 1 min chart to trade. While there are successful scalpers with proper years of experiences, good trading psychology and emotion, most newcomers will not be able to handle the stress and pressure from it. ) Don’t give up
OANDA:XAUUSDEducation
by jojofang0901
35
A Trader's ReflectionReflection What’s a reflection? Do you love your own reflection? So many questions—with, yet again… different definitions. A reflection is the return of light, heat, energy or sound waves from any surface. “To fix one’s thoughts (particularly from the past) on something”, is also a reflection. When you reflect, you ponder, mull, think—reflecting is synonymous with “past”—In most cases, you can only reflect if it’s something from the past. However, writing this particular journal entry, I thought of… “what our reflections would be like as traders”. Have you ever had to reflect back to—who you were before trading?, Well, I do sometimes, who am I kidding? I’m even doing it now. According to our definitions, In the word reflection, we get to pick some words like: “The return of light, heat, energy or soundwaves”, “Fix one’s thoughts”… You know what this means?, The first definition, simply means: your reflection is how you feel at a particular moment, the energy you transmit at that point is reflected. That’s why, if you look in the mirror—sad, you will not expect to see someone happy in there. Whereas, the second is an escape from realty. That is, when you reflect you leave this particular plane, moment and travel back in time. A Trader’s Reflection As traders, our reflections are shown to us by the charts (market). Just like your energy is reflected when you look in the mirror, the same thing happens when you trade the market. Therefore, the adage that says, “whatever you sow, you reap”—is a perfect example. The market serves as a: trader’s mirror, the light, heat, energy and soundwaves are going to be very visible when you take a trade. Similarly, you don’t expect to enter the market sad and expect a happy outcome. I want to re-quote Ernest Holmes. “The market is a mirror and will reflect back to both its observer, spectator or player—that which it thinks into it”. The way the market seemed to you, was actually the way you created it in your own mind. That’s the energy returned I speak on. Dumb question, Have you ever looked in the mirror? Anyway, who do you see—Yourself or some imagination of yourself? There are times when I’ll imagine what I’d want to be in 5-10 years from now, I’ll look in the mirror and nothing’s changed. It’s like imagining your flying but your feet never left the ground. My aunt said, “it’s good to be ambitious”—but, ambition without action is—damnation. On twitter, I remembered tweeting—“the market’s not responsible for your decisions—You are”. A trader’s reflection simply means, The subconscious replication of a trader’s non-verbal signals. Similarly, your reality as a trader comes from what you see in the mirror (market). In addition, What you hold in mind manifests—irrespective of your preferences. The Reality In reality, we actually trade people’s reflections… Looking at the mirror, if someone were to tell you, “oh, woah! you look pretty” is that enough? It might not be if you don’t think you look pretty. Even if the person tried to give you reasons. Most traders consider their problems to come from outside conditions whereas, Albert pointed out—“We cannot solve our problems with the same level of thinking that created them”. Therefore, If a trader is feeling fearful, he can try to cover it up all he wants, but, his trading results will readily reflect his true feelings. As traders, “you can lie to everyone but the one person you can’t lie to is—the market” Took a break on Ruth Roosevelt’s blog. She made it known that, “Trading is a microcosm of life. What you do in life, you’ll do in trading”—A dirty mirror that’s made clean isn’t usually enough vision if one’s blind. We can fool everyone into thinking we’re professionals but not the market. Dude’s just so good at the detective job. You’ll get caught! The market feeds off your energy, that’s why you can look at a market and say, “oh! I think the buyers are in control”, because, everything reflects. March 2020, the Covid beginning-era, the Nasdaq index and many other instruments dropped drastically. The market reflected the pain, fear, frustrations, and turmoil—every human was going through. What happened afterwards?, there was a massive decline. Energy is indeed contagious. Dear Traders In conclusion, Don’t be fooled, In trading, it’s not the analysis or predictions that matter—it’s your belief, thoughts and emotions. Once you take a trade with a messed up mindset, what do you expect would happen? You probably have a messed up outcome. The market doesn’t have to read your mind to know what you’re thinking because—whatever you’re thinking reflects in your trading. However, most focus on the outward appearance because they think of social status, online gratification or they’re just good at marketing. Well, you can fool other people; who exactly are you fooling? The market does not create the ways in which you perceive it; it merely reflects what is going on inside of you in any given moment. The annoying thing about this particular mirror (market) is that, it doesn’t speak or warn you. It just reflects; The great thing about it is: You get to know the truth. Humans will lie, Your fake gurus will say anything so you can keep purchasing their course. The market, will reveal everything about you both good and bad. A good trader isn’t judged by his analysis or predictions; A good trader is judged by his outcome. Tell your gurus to start showing you “real” account histories and not trading view analysis. Haha! Make The Market Your Teacher Finally, the only guru you should be listening to is: The market. The market will quite naturally make you face what is inside of you on a moment-to-moment basis. What is inside of you could be confidence or fear, a perception of opportunity or loss, restraint or uncontrollable greed, objectivity or illusion. The market just reflects these mental conditions, it does not create them. I’ve come to very conclusion that—in trading, having a mind of your own is bliss. You must be a fool thinking your guru can 100% predict the market. Unless he trades billions (can actually move the market). We are all just mere spectators hoping to join the winning animal.
OANDA:NAS100USDEducation
by lazyluchi