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Trading Psychology

Trading Psychology

Unpopular trading advice: fall in LOVE with one pair ONLY In a world where you can love anyone and anything your heart desires, fall in love with ONE currency pair ONLY. The notion of "the more pairs I trade, the more money I will make" is false. If you wanna be a consistently profitable trader, it is more beneficial to focus on a small selection of securities and master them, and there is a concrete reason for that. Concentrating on one or two currency pairs instead of trading every single major, minor, and exotic pair will be more efficient, less confusing, and more profitable. When you study every single movement of any given pair, you get more experienced at trading it and you make more rational decisions and analyses. Looking at the chart illustration, we might observe the trading log of all transactions we executed in April and May so far. With 8 trade entries and all of them being EUR/GBP, a total return of +9.6% has been generated constituting an approximate win rate percentage of 70%. Obviously, not every trade resulted in being profitable as we encountered 2 losses and a breakeven closure. Nevertheless, as we always indicate, trading is a game of big numbers and probabilities. Instead of trading 10 securities, we have only been focusing on one single currency pair recently. One crucial thing that needs to be noted is the following: not always will the one specific currency pair of your choice provide you with clear swing opportunities as the example of EUR/GBP portrayed on the graph. Periods of long and dull consolidations, indecisions, and some other moments will take place and make a derivative unlikeable and less efficient to trade for a period of time. Therefore, always have one or two other trades on the radar to eventually monitor and analyse along with the currency pair of your preference. Love will save the world. Investroy.

Education

Big non-farm data is coming, are you ready? The monthly nonfarm payroll data is coming soon. Do you know how it will affect gold prices? The "nonfarm" data is released by the US Department of Labor on the first Friday of each month. It consists of three values: nonfarm employment, employment rate, and unemployment rate, which reflect the development and growth of the manufacturing and service industries. A decrease in these numbers represents a reduction in production by businesses and an economic downturn. Therefore, the following basic rules apply to the price trends of gold: 1. A decrease in nonfarm values indicates an economic downturn, a reduction in production by businesses, and a weakening of the US dollar, which is favorable for gold. 2. An increase in nonfarm values indicates a healthy economic condition, which is favorable for increasing interest rates, strengthening the US dollar, and unfavorable for gold. In general, if the overall economic data in the United States is weak and the ADP employment data is favorable for spot gold before the nonfarm data is released, the market may start to show a bullish trend for gold prices on Thursday and Friday. On the other hand, if there are signs of economic recovery in the United States before the release of the nonfarm data and the economy is strong, it will be bearish for gold prices, and investors can take advantage of short positions. Therefore, if the newly added nonfarm data exceeds the market's expectations, the Federal Reserve's expectation of raising interest rates may rise again. However, the uncertain global economic recovery has led to continued expectations of monetary easing by central banks, and the combined effects of these factors have led to extreme fluctuations in gold prices during nonfarm data releases. As a gold investor, you can actively pay attention to the nonfarm market, but there is no need to demand excessive profits from the market. Instead, it is essential to understand the impact of this data on gold price movements. I will provide analysis and trading strategies for gold and crude oil every day. Please click to follow, maintain your reading habits, and create opportunities for yourself. If you agree with my views, please click the rocket to support me. COMEX:GC1! MCX:GOLD1! BIST:XAUUSD1!

Education

by investmentMr-X

Updated

How To Become A Millionaire | 2 Proven Ways Seeing people announce their net worth on social media may have you asking yourself, "How do I become a millionaire?" Yet "millionaire" can feel like a huge, unobtainable word. However, the good news is that becoming one is actually more realistic than you might think. The fast-track method of becoming rich in your twenties is to start a high-growth, high-return business with a plan to exit within five years or so. But, of course, there's absolutely no guarantee you'll even make a penny, and the risk can often outweigh your other options for building a long-term income. It's important to have a well-researched idea and a solid business plan before you start, as well as a clear picture of how you'll support yourself when there's no money coming in. Having said all this, there may never be a better time to start in business than as a graduate. Your responsibilities are minimal and even if it all goes wrong, you've got a wealth of experience to build on and take forward. With your business, you should either identify a need and fill it or find a problem and solve it. Solving for customer needs and exceeding expectations along the way drives business growth. A customer need is a motive that prompts a customer to buy a product or service. Ultimately, the need is the driver of the customer's purchase decision. Learning to solve the problems of people, you can make a huge wealth on that. Just look around and look for the things to solve. What do you want to learn in the next post?

Education

by UnitedSignals

⌛ It's Just A Matter Of Time 📍Journey Of a Successful Trader No one started as a good trader. Every profitable trader was once a newbie. The journey of a successful trader is filled with challenges, hard work, and perseverance. It begins with a strong desire to learn and a commitment to become an expert in the markets they are trading. 📍The Right Path To Reach The Top 🔹Learn the basics of Trading 🔹Pick a Strategy that you fully understand 🔹Trading plan customized to your lifestyle 🔹Back Testing your strategy and plan 🔹Review your Trades, calculate your expectancy 🔹Demo Trading to build basic knowledge 🔹Live Trading, Manage your risk and emotions 🔹Professional Trader 📍Summary The first step in the journey is to acquire the necessary knowledge and skills. This includes learning about the financial markets, technical analysis, risk management, and trading psychology. Successful traders also develop a trading strategy that fits their personality and trading style. Once they have acquired the necessary knowledge and skills, successful traders spend countless hours studying the markets, analyzing charts, and monitoring news events that may impact their trades. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️

Education

The Breakout Trading Strategy of Trendlines | OKXIDEAS Hello traders, In this post i am just showing you a very simple and easy trading strategy especially for beginners, in this strategy i am just using two basic things trendlines and 50 simple moving average which is you can also see in the charts above. What you will be doing in this strategy just simply go to the 1hr timeframe see the clear trend draw the trendline wait for the breakout when breakout happen now wait for price to retest or just place a buy limit or sell limit order. I hope you like the strategy this is the trendlines breakout trading strategy. The one good thing about this strategy is the risk to reward ratio because in this strategy you will have potential to have around 1/3 risk to reward ratio so this means if you placed 10 trades and you lose 7 trades out of 10 and you just won 3 trades out of 10, you will be still profitable so meanwhile you just need to have a 30% wining ratio to be profitable in a long run. I just advise you that try the strategy open the chart and back-test your chart and trade it on demo live market condition at least for one month and see the results ask the question to yourself can you be profitable? if the answer is yes so probably you know that what to do next but if the answer is no then look it your one month data that you have, make sure to journal your one month data record and try to analyze what mistakes you do what wining ratio you have can you have a little deference to between 30% see your taken trades you will be seeing some bad trades and you don't wanted to trade next time avoid those trades in the next month and just repeat the process be patient one day you will be consistently profitable but if not then don't lose the hope and just try again again and again learn from your mistakes come back and don't do that mistakes again, remember every strategy is good if you practice and managed it. Just find the strategy that you suit and start the process. I hope you liked the post, i wish you good luck and good trading.

Education

Updated

Practical Insights into the Risk Management Hey there, amazing @TradingView community! It's @Vestinda, and we're on a mission to deliver content that truly makes a difference. 👉 To become a successful crypto trader, it's essential to have a solid understanding of trade and risk management concepts, such as stop losses, position sizing, and scaling. In this article, we'll explore these key concepts in-depth to help you minimize your risks and maximize your gains in the cryptocurrency market. Four Risk Management Concepts Every Crypto Trader Should Understand To effectively manage the risk associated with trading, it is essential to first develop a comprehensive trade management and risk management strategy. Before committing your capital to any position, it's critical to have a clear plan in place to minimize potential losses and optimize your overall trading performance. Successful market speculation requires effective risk management to preserve capital, which is the primary objective. By minimizing losses and maximizing gains through a comprehensive trade and risk management strategy, traders can achieve long-term success in the market. One of the key strategies employed by the most successful traders is to minimize their losses while allowing their profitable trades to run. This approach is essential for avoiding disastrous scenarios, such as allowing profitable trades to turn into losers or allowing a single bad trade to wipe out an entire account. By focusing on risk management and trade management, traders can increase their chances of success and protect their capital over the long term. It's true that implementing the "cut losses quickly and let profitable trades ride" strategy can be challenging, especially for discretionary traders who need to constantly evaluate changes in fundamentals and market sentiment against price movements. However, there are trade and risk management ("TRM") tools and methods available that can help simplify this process. While these tools and methods may seem complex at first, they are quite accessible and easy to learn. With the right TRM strategies in place, traders can effectively manage risk and optimize their performance in any market condition. Before diving into trading, it's crucial to understand four key concepts in trade and risk management: Stop losses: Stop losses are predetermined exit points designed to limit potential losses on a trade. By setting a stop loss, traders can automatically close a position if the market moves against them beyond a certain point, minimizing their losses. Traders may use price action signals, technical indicator signals, fundamental analysis, or a combination of all three to determine the appropriate level for a stop-loss order. This helps to limit potential losses on trade and is a crucial component of effective risk management. Position sizing: Position sizing refers to the amount of capital allocated to a specific trade. By properly sizing positions based on risk tolerance and market conditions, traders can optimize their overall risk management strategy and minimize the impact of potential losses. Position sizing refers to the process of determining the quantity of cryptocurrency to long or short based on the maximum amount of value a trader is willing to lose if the trade fails, also known as "max risk." For novice traders, it is recommended that the maximum risk should not exceed 1-2% of their portfolio for short-term transactions and 5% for longer-term positions. For example, if a trader has a cryptocurrency account with $ 1,000 and wishes to purchase a token with a market price of $ 10.0 per token, they would need to determine the appropriate position size to maintain their desired level of risk. If their analysis indicates that they should place a stop loss at $ 5.0 per token to limit their maximum risk to 2% of their account, or $ 20.0, then the appropriate position size would be 4 units (40$ position size). This way, if the token's value drops by $ 5.0, the resulting loss of $ 20.0 would equal 2% of the trader's account. Scaling: Scaling involves adjusting position sizes based on the performance of a trade or the overall market conditions. By scaling into or out of positions based on market conditions, traders can adjust their risk exposure and optimize their potential for gains while minimizing potential losses. Scaling refers to the practice of dividing entries and exits into two or more orders around a trader's intended entry/exit area to reduce the likelihood of setting an entry too low or too high. This is particularly important because it is nearly impossible to predict the exact price or time at which the market's direction or volatility levels will change. For example, if a trader intends to buy a token for $ 10.0 but their analysis indicates that it may drop as low as $ 8.0 before sentiment entirely flips bullish, they should consider dividing their entry/exit orders into multiple price levels. This way, they can enter the trade with a partial position if the token's price does not drop below $10.0, but if it drops to $ 8.0, they can scale into a lower average price of $ 8.75. By using scaling and position sizing in conjunction with a maximum stop loss level, traders can effectively manage their risk and reduce the likelihood of incurring significant losses. While these concepts are relatively simple, understanding and applying them correctly can help traders avoid significant risks in the cryptocurrency market. Leverage: Trading with leverage involves taking positions that exceed the account's total capital, which can be done through crypto exchanges (CEXs) offering margin trading or some DeFi protocols providing advanced borrowing mechanisms. For instance, assume you have $ 100 in your account, and you want to purchase 1 unit of XYZ token worth $ 100, creating an open position valued at $ 100. Margin trading offered by a CEX may only require a 10% margin, meaning you only need to invest $ 10 instead of the entire $ 100. You can then utilize the remaining $ 90 to open additional positions, which can be tempting for many traders. With a 10% margin requirement and a $ 100 account, you can open a position size of 10 XYZ tokens, having a notional value of $ 1000 ($ 100 x 10 units), with the CEX holding the $ 100 in your account as a margin for the trades. This would make you leveraged 10x, which is considered an extremely high amount of leverage. If the token increases in value by 10% in a short period, the position value would grow from $ 1000 to $ 1100, which means you could double your account value from $ 100 to $ 200 (i.e., $ 100 profit + $ 100 margin). Alternatively, if the token rises by 20% to $ 1200, you would triple your account to $ 300 in value. Although the potential for high profits may sound exciting, it is crucial to remember the risks associated with trading with leverage, and it is advisable to exercise caution and not get carried away by the prospect of quick and easy gains. Many traders are lured by the potential profits of leveraged trading, but it's important to remember that leverage can be just as dangerous as it is rewarding. If a trader opens a position with 10x leverage and the position loses just 5%, that would be a loss of $ 50, which is 50% of their $ 100 account. Additionally, if the position were to lose 10%, resulting in a $ 100 loss, the trader would receive a margin call and would need to deposit more money to keep their trades open. If they are unable to do so, the CEX will close all positions, also known as being "liquidated". The CEX will use the margin that the trader had provided to cover the $ 100 loss, which means that the trader's account balance would be reduced to $ 0. It's essential to be aware of the risks of leveraged trading, as you could potentially lose everything you've invested. It's important to remember that leverage in crypto trading is a double-edged sword that can either grow your account or quickly deplete it. While it's possible to make significant profits with leverage, it's equally possible to suffer substantial losses. As a new trader, it's important to acknowledge that trading with leverage requires expertise and a sound risk management strategy, which can be challenging to implement successfully. Therefore, it's wise to approach leverage with caution and focus on developing your skills and knowledge before considering this tool. Here are some recommendations that can help you navigate the exciting but risky world of crypto trading: First, it's important to be conservative with your risk-taking and to only invest in your very best trade ideas. Limiting your total exposure to the crypto sector to a small percentage of your total liquid capital, starting at 1%, is a good way to minimize your risk. You should also limit your exposure to a specific crypto asset to a small percentage of your total crypto portfolio, with a 1% to 2% max risk on short-term trades and a max of 5% risk on longer-term positions. Using a stop loss with every position is also crucial to limit potential losses. Remember, perfect timing is near impossible, so consider scaling into trading positions or "dollar cost averaging" into longer-term investments. Take profits along the way if a trade goes your way. And most importantly, avoid using leverage, which can be a double-edged sword and lead to substantial losses. Lastly, only invest your capital in your very best ideas, which should be low-risk/high-reward setups on high-probability ideas. Don't force trades when there are no compelling opportunities, and remember that "no position" is a perfectly fine position when you don't see any good opportunities. Calling all traders! Are you ready to take your skills to the next level? Join our community of like-minded traders and stay up to date with the latest market trends and insights. Hit that follow button and show your support by giving this article a big thumbs up. Together, we'll navigate the markets with ease and achieve financial success. Don't miss out on this opportunity to grow and learn with us. Let's do this!

Education

Updated

Trader ⚔️VS⚔️ Analyst !!!(Differences)Hi, everyone👋. Do you like surfing or guiding surfers? In this article, I will talk about how analysis differs from trading. A good analyst is not necessarily a good trader📉. Do you know what the point is❗️❓ The point is that analysts talk about all aspects, so they always tell the truth and explain what really happens on the market, but the traders ride the waves. Financial markets include high and low waves, so if a trader makes a mistake in measuring its depth, speed, and height may drown in the sea. If you are a trader, don’t be proud of yourself because the financial market sea is very cruel or a beast. —------------------------------------------------------------------------------------------------------------------ There are four trading keys in financial markets: Trading Strategy Capital Management Market Psychology Trader Psychology These keys are like four legs of a chair🪑 which should be sat on carefully and calmly. Although by removing one of the legs, it’s possible to sit on the chair, safety has to be considered. I’ll explain all the trading keys in the market in other posts later, but for now, let me dig into the differences between Analysis📈 and Trading💰 . What is considered in the analysis are the price targets in both rising🟢 and falling🔴 markets, the probability of its occurrence and non-occurrence, and the necessary conditions for both. Considering the subtlety of an analyst's words and the mentality of the people studying - who are mainly looking for confirmation of their position - generally, the analyst will always be right unless he has declared only one direction decisively, which is not an analysis, but a signal and prediction. Declaring an upward↗️ or downward↘️ trend in only one direction is not an analysis but a prediction. It’s noted that any prediction can be wrong. But in the comprehensive analysis of both sides, the necessary conditions for their occurrence and their probability are stated, so whatever happens, the analyst is right, and you will hear the famous saying "as predicted." 🔷 A successful trader can take the following steps: Comprehensive analysis of the market situation in which he wants to trade: The technical analysis must be prepared before opening a trade position. A wrong analysis does not always lead to a wrong trade, and vice versa, a correct analysis does not lead to a correct trade because you have to see whether the position trigger is activated or not. Find useful trading strategies to achieve profitable trading: A trading strategy can be a system that includes a combination of different indicators and oscillators, which can finally indicate the entry and exit points as well as profit and stop loss while trading. This system makes you behave like a robot; after understanding and analyzing the market, you’ll wait for the entry and exit points to appear. Trusting this trading strategy is one of the critical keys to successful trading. All the points mentioned so far are related to the technical analysis aspects; otherwise, in the Fundamental field, a daily checklist of various factors affecting the market is needed, which is vital for Fundamental analysis. Find your own timeframe: Chart analysis and trading can be viewed from the 1-second time frame(short-term) to several years(long-term), but every trader should have his own time frame based on his trading strategy. The time frame is important because: The trading strategy should help traders find the entry and exit signals in the same time frame. The Stop Loss(SL) should be determined based on entry points in the same time frame. The time required to reach profitability is estimated based on the same time frame. You can't analyze on a daily time frame and expect to get a very good profit immediately after entering the position. After determining the time frame and with the help of the trading strategy, the following tasks should be done. Studying market analysis to identify market trends, the state of market movement waves, and daily, weekly, and monthly support and resistance zones. Determining the Entry Points(EP) based on the strategy Determining the Stop Loss(SL) based on the strategy Determining the Take Profits(TP) based on the strategy All the above must be done before entering the market, and the only thing done after entering the market is the last step—changing the exit point based on the variable stop loss to increase profit. —------------------------------------------------------------------------------------------------------------------ 🔷 Conclusion: According to the explanations given, it can be understood that analysis and trading have a significant differences. It should be noted that every wrong analysis published on social networks does not indicate that the analyst does not trade well and vice versa. So, to profit from the financial markets, you must be trained in the first step. Become an analyst and then trade. For this, you have to go step by step, don't be greedy, don't rush, so that you can stay in the financial markets and earn profit every day until you get a continuous profit one day.

Education

Updated

EURUSD: Part 1 funny story!I. Not proficient unconsciously. When you enter the market and start trading, you may think that it's a great way to make money because you hear a lot about it and know of people who have made a lot of money from Forex. However, it's important to note that this is just the first stage and, like when you first learn to drive, it may seem easy at first but can be challenging as you continue to learn. Prices in the market can fluctuate wildly, adding to the complexity of Forex trading. When you're new to trading, it can be overwhelming and confusing. You may find yourself unsure of what to do when you see the prices fluctuate in the market. Without proper knowledge, you may take risks that could potentially harm your trades. You may even fall into a cycle of increasing your trading volume when you feel confident, only to end up losing capital in the long run. This is a common stage for beginners that typically lasts a few months to a year before moving on to the next phase. Continue ... I will release the next part tomorrow, stay tuned.

Education

by Sphyn-Trader

Why 90% Of Traders Lose Money? Trading is a tough business and most people who start in the business lose money. And these numbers aren't small at all, really. In fact, they might even be scary to look at. Therefore, in this article, we will look at some of the most popular reasons why more than 90% of new traders will lose their money in trading. ____ The most common reason why many traders lose money is simply that they want to become professional traders without learning more about it first. They trade without even learning the differences between assets and how trading works. Other people start trading after seeing the hyped stories of millionaire traders on television. ____ Some traders just follow the recommendations of others and do not conduct technical analyses of their own. Traders should review the prices, analyze the volume, check the prior trends and analyze other technical indicators before placing their intraday orders. Rushing just to place buy or sell orders is one of the biggest mistakes intraday traders make. One should conduct proper technical analysis and then start trading. ____ The phrase- “Trend is your best friend” always works in the market. Not following the trend is another biggest mistake that day traders make. Unless a trader has many years of experience and understanding of the market, traders should try to avoid going against the trend. If the market is in a strong uptrend, then one should try to trade in the up direction only unless there is any strong resistance or chart pattern breakout. ____ Some traders follow rumors and recommendations which are spread by the media houses and brokers. This is another big mistake that intraday traders make. One should not blindly follow the intraday trading tips and rumors without their own analysis. Going by these recommendations without conducting your own analysis can cause huge losses. As we have discussed above traders should conduct proper research before following any recommendations or intraday tips. As we all know that the intraday trading is a mixed bag of losses and gains. Not every trade goes right or is profitable. Thus traders should put a stop loss of their trades when doing intraday trading to protect their capital from losses. Please, like this post and subscribe to our tradingview page!👍

Education

by EliteTradingSignals

The Story of a Failed Trader | OKXIDEAS Once upon a time there was a man who was a very poor and he belong to a middle class family but he had the ability to dream it. He was 20 years old and he also think that he spend all of had 20 years doing nothing, he was a dreamer. He wanted to become a rich man, he finding ways to become a rich man, he tried almost every thing but failed. One day he watched a video about trading on YouTube and he decided to become a trader, become a rich with trading and fulfill all of had dreams. He started to learn trading, he watched all of educational videos about trading on YouTube and spend had 15 hours every day just watching videos, now he knows about the basic trading he shifted to the analysis part of trading, he started to practice and learn the technical analysis. He find the method that he can trade with, he combined some technical indicator signals and created strategy for himself. Now he had very passionate about trading, wanted to open a real account and start trading with real account. He had some saving money around 500 dollar he deposited that money in the real account and start trading with that money. He started dreaming from the first day of trading and created some trading rules for himself like he had to take 10% risk per trade and don't take that trade which is below 1/1 risk to reward ratio. On the first day he had taken almost 3 trades and win all of them, now he was more excited for trading he had made $192 profit means something around 38% profit on 500 dollar account. He wanted to trade more but he was a little bit smarter one, he think that i am in profit and my wining ratio is 100% so why i just damage my wining ratio and why i just risk my today profit so he had decided to come back tomorrow. On the second day he had $692 total balance in the account, he had to play a little bit more smarter than a previous day and he decided to take 10% risk per trade of the current total balance $692 in the account rather than the starting balance which is $500. On the second day he take almost 4 trades and he won 2 trades out of 4 trades, now the account condition had almost break-even no loss & no profit, he decided to try again and trade more, he finding the reason to trade more and then he calculate today and yesterday total taken trades which is 7 trades, he think that i won 5 trades out of 7 trades so my wining ratio is almost around 70% which is good and i can trade more because my wining ratio is still above 50% so i am still in positive side. He trade almost 3 trades again and he lose all of them, now he had very sad and almost broken, he decided to step back and come back later. He sturdy himself and come back on the third day, now he had facing a little bit draw-down on the third day the total account balance is around 484 dollar, he started looking for the trades opportunity and at the end of the day he took almost 5 trades with the 10% risk per trade but the third day results had also again bad and he lose 4 trades out of 5 and just win 1 trade, he had very shameful from himself, he closed the laptop goes to outdoor and talk to himself. He analysis the current situation of the account, it that point the total account balance is around 276 dollar he almost around 45% in draw-down and the wining ratio had below 50% so now he entered to the negative side. On the fourth day morning he traded 2 trades and he lose both of them now he almost lose the hope and the account condition had around 72% in draw-down and he left only 138 dollar in the account. At the time he give up and he just decided to depend on just one trade, he just waiting for the best opportunity of the day and finally he got the trade but at the end he lose that trade again and he almost blow out had account. After that all he had stressful and sad from almost one week, he decided to leave the trading and move on to the next thing and he looking to find other things that suitable for him because he think that trading is not suitable for him. One month later he just scrolling on the internet and he see the FAQ that 90% of traders lose and only 10% had succeed, now he had a little bit shock and he think that its pretty normal every trader in the 90% had facing that stage which stage that i faced. He decided to come back to trading and start from the zero, he started to modify had strategy and created new rules for had strategy like he set this time risk to reward ratio for had trades is minimum 1/2 and he decided to risk only 2% of the total account also he decided to take only 2 trades per day, this time he opened the demo account rather than the real account and start trading with demo account, he decided to journal had journey and after one month of consistency he hadn't break any rules and when he see the results after month he had profitable, now he feel like stronger and he continue the journey with that same demo account after three months he had similar results and still profitable. In that time he think that i don't have much money and in trading it's required a lot of money to earn a lot of profits, he started to search for that how he had to prove himself to big investors and raise money for himself to trade. One day he searching and he knows about prop firms trading now he had interested in that and wanted to know more about prop firms, he think that this is the big opportunity for himself to become succeed quickly, now he decided to trade with prop firms and buy the challenge from the prop firms, he adjusted had strategy rules and trading plan according to the prop firms requirement, now but the only problem is that he don't have money to actually buy the prop firms challenge. By the way he was dropout from the school after completing had secondary education and so he just setting at the home, he don't have much money to buy the challenge, the pocket money of him had just depend on him father and he hadn't want to say to father to give me extra money because of him father was very poor and he work as a taxi driver, so then he had decided to get the any kind of job for himself and try to earn some money in the form of salary and buy the challenge with that money, he worked hard and after one month he got the salary and then he just swift to the prop firm website and buy the $50000 account challenge for himself, now he started trading with challenge account phase one, on the phase one he decided to risk only 1% per trade, take only 2 trades a day and the every trade risk to reward ratio had to minimum 1/2 after one month of consistency he gained +8% profit, he was in profit but he hadn't achieved the prop firm required profit target which is +10% in that case prop firm gives traders free retake so then he take the challenge again with the new account and new month from zero and he think that my wining ratio for the previous month is almost around 40% with minimum 1/2 risk to reward ratio and my daily limit is 2 trades so i need to increase my daily limit from 2 to 3 because if i traded with the same rule 2 trades a day then i hadn't pass with 40% wining ratio. He calculate some numbers like he think, if i take 3 trades per day so then at the end of the month my all trades had to be 60 trades per month and if i maintain my 40% wining ratio then i can easily pass the challenge with that mindset he started the challenge and strictly follow the rules after month he hadn't maintain the 40% wining ratio and he end up with some loss and failed the challenge, this time he almost faced big depression after some days left he realized had mistake and he think i made mistake that i increase my daily trades limit because of this my wining accuracy goes down, i just forced myself to take 3 trades per day and get trapped into the normal trades. At that time he hadn't left any pathway he almost try everything but at the end he faced failure, him father had now getting older and he decided to step back again he start going to the normal job and start saving 30% of had salary, he do that job for almost one year and after one year later he had some saved money in the bank account to buy multiple 10x challenges, he come back to the trading but this time he hadn't leave the job and he do trading like part time thing. He started had journey again he decided to hadn't give up and repeat the process so then he started buying challenges after one by one in some challenges he failed in phase one in some he failed in phase two in some he almost pass the challenge and got the live funded account but hadn't get payout and lose the account in the first month. The journey had started goes on and he just repeating the process and doing try again and again. Will be continued..... Some lessons from the story > Never open real account in the start, try to learn first on demo account. > Don't try to be smart in the front of the market. > Don't lose hope in draw-downs just repeat the process of your trading plan. > Take every trade with the hope of wining. > Never depend on a single trade. > Don't leave too fast stay in the market. > Give yourself enough time to create the solid proven strategy that works at least for you. > Respect your trading limits. > Don't depend on just trading and never leave your job, consider trading like part-time thing in the starting. > Learn from your mistakes and improve your performance. > Make mistakes but don't repeat that mistakes again. > Never depend on small capital always look for an opportunity. > Journal your journey, record your trading performance and improve next time. > Don't fear from failure. > Be patient, market is here not going anywhere. > Don't force yourself to take normal trades wait for good opportunity always. > Don't count the numbers, you need to count the percentage. > Don't try to be rich quickly. > Step back, if you damaged from market then simply step back and come back stronger don't try to fight. If you learned any other lessons from the story, let me know in the comments. What you feel about one day he will be succeed or just the failure always, also let me know in the comments. I hope you enjoyed the story, appreciate my work with like comments and share. I wish you good luck in trading.

Education

Common Fears in Trading and How to Overcome Them As we discussed many types, psychology plans a crucial role in trading. Even the best strategy in the world, can be screwed by emotional decisions. In this educational articles, we will discuss 5 common fears in trading and the ways to overcome them. 1️⃣Fear of the Unknown. Lack of experience make many traders face "unusual" situations on the market: the setups, patterns, fluctuations and formation that they have never seen before. Such events cause inaction and paralyze. Not knowing how to deal with such situations, newbies make irrational decisions that most of the time incur losses. ✔️Solution: The best way to beat the fear of the unknown is to keep learning: reading the books, watching the charts, studying the historical data will help you to be prepared for various situations. Also, your mindset plays an important role here: your adaptability, your willingness to accept the changing nature of the market are essential for your success in trading. 2️⃣Fear of Being Wrong. Testing multiple strategies and trading techniques, the only way for the newbie traders to prove their efficiency is to try them, try them on real market. And of course, the majority of the stuff that you will try won't work. In trading, each mistake costs money, hence, losses will be inevitable. The fear to make a mistake will be chasing you. ✔️Solution: The best way to overcome the fear of being wrong is to build a confidence in your actions. After trying multiple strategies, you will certainly find the one that works. More you will trade with that, more winning trades you will catch, more confident you will become in your system. 3️⃣FOMO - Fear of Missing Out There are thousands of instruments to trade. Many markets are opened 24 hours a day. Of course, you can not monitor them all, and even if you have a fixed watch list of the instruments that you trade, you can not monitor them 24/7. Some opportunities will always be missed. Some trading setups will form while you are sleeping, and accurate patterns will form on the instruments that are not in your watch list. Realizing the fact, that something will always be missed, is painful. For that reason, newbie traders are trying to be present everywhere at anytime. But the paradox is that more options breed more confusion. ✔️Solution: Always remember the fact that patience always pays. Opportunities will always come, but in order to catch them, you need focus. And fewer instruments you have in your watch list, more attention you pay to them. 4️⃣Fear of Losing Money The biggest risk in trading is the fact that your entire trading account can be blown in a glimpse of an eye. Moreover, trading can be learned only by trading. And losses are inevitable, no matter how good you are. That makes newbie traders be scared of opening just one single position. ✔️Solution: I always give my students the recommendation to trade with the amount that they can afford themselves to lose. Consider your trading account as an investment. With each single trade, you are investing in your skills, in your knowledge. You pay the market to teach you. 5️⃣Fear of Not Taking Profit at the Right Time Imagine you opened a trade and the market suddenly starts moving in the direction that you expected. It is coming closer and closer to your target... A few seconds after, however, the market rolls over. You see how your profits start evaporation. Probably you chose incorrect take profit level? Maybe it is the moment to close the trade manually? You are scared that all the profits will be gone. ✔️Solution: Take profit level selection is a very hard element of each trading strategy. The only way to not let your emotions intervene is to build the solid system that proved its efficiency and learn to be disciplined to follow that no matter what. Always remember that no one can teach you how to deal with yourself. How to deal with your emotions. You should go through all these fears by your own and find the way to beat these dragons. The solutions that I shared helped me to beat my dragons, I hope that they will help you to beat yours! ❤️Please, support my work with like, thank you!❤️

Education

by VasilyTrader

Dealing With Confirmation Bias In Trading Confirmation bias is a self defeating attempt to impose one's own bias on the market. This most often results in pre-trade chart blindness. When we analyze the market with a preset bias, we will only see confluences, patterns, price action, and setups that confirm our bias. This is the human flaw of needing to be correct. The need to be correct will cause traders to subconsciously ignore chart information that would prove us wrong. Confirmation bias results is the inability to objectively analyze the market. Have you ever noticed that you see a setup and you feel confident before entering the trade that it will work out in your favor based on your analysis. But as you re-assess after entering the trade, you notice multiple confluences that indicate that you may have picked the wrong direction. This is pre-trade chart blindness. You can't see the obstacles to your trade because you have only found the confirmations that support your need to be correct. It is better to allow the market to determine the bias for us. Price leaves us clues to it's direction and intent. It is our job as traders to objectively weigh the evidence for a buy or a sell. Just as a detective collects evidence that will either prove innocence or guilt in a court of law, we must put our trade setups on trial. We must weigh the evidence impartially and without bias to determine if our setups are innocent (valid) or guilty (invalid), without being attached to proving ourselves right or wrong. Realizing that you have subconsciously ignored an important piece of evidence after the trade has been executed is too late. There are 3 ways of dealing with confirmation bias: 1. Remain objective and unbiased in your analysis. Don't tell price what it should do, listen to what price is telling you. Your trade setup is on trial and it will give a confession, but you have to be willing to listen and accept that confession. Warning: Your trade setup may lie under oath (manipulation) so be prepared to always follow the strongest evidence. 2. Take the trade on demo first to quickly move past your pre-trade chart blindness and allow yourself to see clearly what you may have missed due to confirmation bias. If the trade setup is still valid after entering the trade on demo, then take it for real. This will also help with patience and prevent you from getting in too early. 3. Play devil's advocate. For example, if you believe based on the evidence that the trade is a buy, try to find all the reasons that it would be a sell. Weigh the evidence for a buy against the evidence for a sell to identify which has a higher probability. As a bonus you can make the comparison of the risk to reward of the buy and sell setups as another determining factor for which trade to take. Recognize that confirmation bias exists and anyone can be a victim to it. Being self aware of your potential for confirmation bias and taking steps to mitigate your own bias should be a part of your pre-analysis and pre-trade routine.

Education

by MartialChartsFX

Steps to Becoming a Profitable Trader This is a roadmap to becoming a profitable trader. Follow these steps to avoid wasting time and bouncing around from idea to idea. We start with a basic strategy idea we like, then build off it. We MAKE it profitable by following the steps outlined. 1. Focus on One Idea or Strategy Focus on one specific idea. An idea is not “price action” or “technical analysis”. That is too broad. But you could start with the idea of day trading an 8 and 21-period moving average crossover. Or MACD signal crossovers on a 1-minute chart. Or the rounded top or bottom or pattern, or triangles, or Keltner channel bounces off the center line in strong trends. Basically, you need an idea and a time frame (1-minute chart, daily chart, etc). 2. Define the Strategy Since you have your idea, you already know the basic concept of the strategy. If you don’t have a strategy yet, that’s where a bit of research comes in: finding something you like the idea of. There are loads of free strategy articles on this site, in the courses offered, and from other sources such as books, Youtube, etc. Whatever strategy you decide on, it needs to include these key components: A trade setup. The trade setup is what needs to happen for us to even consider a trade. It could be a specific chart pattern, moving average crossover, price action signal, etc. Where, when, and why we enter A trade trigger is a precise event that tells us to get into the trade. When the “trigger” event occurs, it turns a possible trade setup into an actual trade. Where, when, and why we exit profitable trades Where, when, and why we exit losing trades If and how we trail a stop loss. 3. Polish Your Strategy Keep practicing. Keep improving your strategy. Try that on different markets, under different circumstances. Make it better and better till it starts making money. Keep it simple and focused on one trading idea. Get better and better at that idea. Keep refining and building your confidence in the method. We gain confidence by seeing something work and being able to implement it. And that’s what all these steps are about. Please, like this post and subscribe to our tradingview page!👍

Education

by EliteTradingSignals

Avoiding and Managing Margin Calls Trading on margin offers a variety of potential benefits, as well as some additional risks, including margin calls. This lesson explains margin calls, your obligations, and what you can do to help avoid them. A margin call is a demand from your brokerage firm to increase the amount of equity in your account. You can do this by depositing cash or marginable securities to your account or by liquidating existing positions to generate cash. To avoid margin calls, you need to understand fully what triggers a margin call, along with the steps you can take to minimize the risk of a margin sellout. Margin calls can be a stressful experience with serious financial implications. Your brokerage firm may sell securities you own—without notifying you and without regard to tax consequences—in order to increase the equity in your account. Therefore, consider these suggestions to minimize the odds of experiencing a margin call: Prepare for volatility: Leave a considerable cash cushion in your account that protects you from a sudden drop in the value of your loan collateral. Set a personal trigger point: Keep additional liquid resources at the ready in case you need to add money or securities to your margin account. Monitor your account daily: Consider setting up alerts to notify you when the value of your positions declines significantly. If you fail to understand the concept of margin or not knowing what to do when faced with a margin call from your broker, you will definitely experience the shock of your trading account blow up. What do you want to learn in the next post?

Education

by UnitedSignals

Breaking these habits could be the key to unlocking your success Trading is quite different from usual 9 to 5 job. It includes a lot of psychology, a lot of stress and of course a lot of money. We interact with the invisible soulless entity called the market. How do we treat it? How do we expose ourselfs to the market? Do we behave in the way that brings us wealth and joy? How are your everyday habits holding you back from trading profits? Here's a list of 6 habits to watch out for. 1. Working hard In a simple world you can dig a deeper hole by digging 12 hours instead of 6 hours. Putting in extra hours at work or taking on additional shifts could lead to increased income. This is how we used to get results and money in a regular world. However, the market doesn't reward you for simply spending more time in front of the screen watching price movements. In fact, trying to make more trades or working long hours in trading can be counterproductive. In terms of trading less is more. “Riches, when they come in huge quantities, are never the result of hard work! Riches come, if they come at all, in response to definite demands, based upon the application of definite principles, and not by chance or luck.” —Napoleon Hill, "Think and grow rich" 2. Being aggressive While this behavior may work to intimidate street punks and take their money without harm, it is impossible to scare the market. Being aggressive and pushing too hard can lead to significant losses in trading. Adding to losing positions or using excessive leverage may lead to disaster. The market is vast and indifferent; it does not care about your aggression. Market is your sensai. If you approach the market with an aggressive attitude, you will likely be quickly defeated. Zen-like calmness and discipline are crucial in successful trading. 3. Being needy When shit hits the fan and i am in a loosing trade, i begin to act like a baby. Why the market went against me? It must do what i am expecting! I am crying and i am looking at my deposit, and somehow it still isn't growing. That's confusing! When i was a baby and i was crying parents were feeding me and giving me things. Some adults are still used to be noisy and needy to get what their want. Their strategy called "the louder wheel gets the grease" and in fact that works on a daily basis, because to people around it's easier to get rid of such "loud wheels" by fulfilling their needs. No one will fulfill your needs on the market, and you can't call the CEO of Bitcoin to move the price in your direction. The composite man, who controls the market, doesn't care about your personal needs or desires. Being needy in trading is a surefire way to lose money and miss out on profitable opportunities. 4. Being brave Every attempt to be brave trading cost me a lot. Like really A LOT. Because of markets uncertainty we have to make finance decisions which will affect our lives. Money equals your ability to get resources. Loosing money means being cut off from resources. This is scary! When we are scared, we want to act RIGHT NOW! So instead of getting skills during the time we may decide that we can fix this by being brave in the moment. Bravery alone is not enough. Everytime i didn't use a stop-loss or put my Take Profit way too high - i am trying to brave without a skill. Some wise general once said: "I don't need dead heroes, i need alive soldiers to win"! You don't want to be a dead "hero", you want to be alive and wealthy. “The secret is to make peace with walking around in a world where we recognize that we are not sure and that’s okay. As we learn more about how our brains operate, we recognize that we don’t perceive the world objectively. But our goal should be to try.” ― Annie Duke, "Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts" 5. Being authentic As a lover of poetry, I value the art of finding unique ways to express ideas and perspectives. However, when it comes to trading, trying to be too original or unique can be a costly mistake. The market operates in a binary way, with winners (composite man) and losers(retail traders). To be a winner, you need to follow the strategies and techniques that have been proven to work, such as Wyckoff, Elliot Waves, and Dow Theory. It's not about reinventing the wheel or being different, but about aligning yourself with the Composite Man and going with the crowd. Don't let the desire to be authentic lead you down the wrong path in trading. 6. Being stuck to your bias Winners always look solid in their beliefs and decisions. Knowing what's good for you and being able to defend it that's what makes a man a great leader in our eyes. This image is a static picture in our brain and we don't see the process behind it. But as a newbie trader i wasn’t able to make a high quality decision simply because of lack of experience. There were no point to stick too hard to my own bias. Now when i am much more experienced it has much more sense to stick to my plan and i have less doubts. Markets are fluctuating. Life goes on. Everything is changing. Bears got over bulls and vica versa. To be a winner it is better to always inventories own beliefs and question if it is still making me feel good? If it is not i must move on. Imagine being stuck in love with a girl you fell love with in the 5th grade, while she already got married, has 3 kids and lives in Kansas. What really improves your trading: -Finding a reputable teacher with real trading experience and a track record of success to learn from, and investing time into obtaining a proper trading education. -Working less and focusing on being in a relaxed and comfortable state of mind. -Experimenting with your working environment to find your optimal trading flow. -Using common techniques that have been proven over time by professional traders, such as Wyckoff Schematics, Elliot Waves, and Dow Theory. -Analyzing the market with an open mind and being willing to adjust your perspective and biases as needed. -Focusing on executing each trade flawlessly, as a positive trading dynamic will take care of the money (as stated by Mark Douglas, author of "The Disciplined Trader") It's important to shift your mindset towards pursuing success. This involves seeking out ideas, methods, and goals that will lead you towards the life you want to live. In my next article, we will discuss what makes a better trader. Make sure to follow me for updates, and let's discuss your trading upds and downs in the comments.

Education

Investment Risk Scale When investing funds in any format, you need to understand the investment approach and risk involved in the planning you undertake. Example investment risk categories when investing capital or income are as follows: 1-2 Lowest Risk Very Cautious Risk You are not prepared to accept any exposure to investment loss although you are aware that any investment has some possibility of loss, for example if a bank holding your money was to collapse. The value of your money may also fall in real terms if inflation exceeds the return that your investment achieves. You accept that the returns from your investments are likely to be low compared to the potential returns from investments that have a higher risk rating. 3-4 Cautious Risk You are prepared to accept a higher risk of capital loss in return for the opportunity to earn more than from deposits and low risk type investments but do not wish to take as much risk as with a medium risk strategy. While there can be no guarantee, investments in this category are not likely to fluctuate in value as sharply or as quickly as a portfolio largely made up of equity investments. 5-6 Balanced Risk You are prepared to accept that the value of your investments will fluctuate with the aim of achieving higher returns in the medium to long term. You accept that there is an increased risk of capital loss over investing in more low risk investments. Medium risk investments can fluctuate in value more rapidly and quickly over a short periods of time than more low risk investments. 7-8 Adventurous Risk You are prepared to accept fairly high levels of risk with your investments, with the aim of achieving higher investment returns in the longer term. You accept that this may mean that the value of your investments may fluctuate considerably over a short periods of time and that there is an increased risk of capital loss compared with a lower risk investment strategy. Therefore, you may consider investments mainly in equities/shares and is likely to involve investment in various overseas markets as well as UK markets. This increases risk because of currency fluctuations as well as investment risk. Risk can be reduced by diversifying your investments across sectors and markets 9-10 Highest Risk Very Adventurous Risk You are prepared to accept high levels of risk with your investments, with the aim of achieving higher investment returns in the longer term. You accept that this may mean that the value of your investments may fluctuate significantly over a very short periods of time and you could lose a significant proportion (possibly all) of your investment. Please, like this post and subscribe to our tradingview page!👍

Education

by EliteTradingSignals

⚠️ Risk Management Examples Showcase 📍What Is the Risk/Reward Ratio? The risk/reward ratio marks the prospective reward an investor can earn for every dollar they risk on an investment. Many investors use risk/reward ratios to compare the expected returns of an investment with the amount of risk they must undertake to earn these returns. A lower risk/return ratio is often preferable as it signals less risk for an equivalent potential gain. 📍Consider the showcased example: An investment with a risk-reward ratio of 1:3 suggests that an investor is willing to risk $100, for the prospect of earning $300. Alternatively, a risk/reward ratio of 1:4 signals that an investor should expect to invest $100, for the prospect of earning $300 on their investment. Traders often use this approach to plan which trades to take, and the ratio is calculated by dividing the amount a trader stands to lose if the price of an asset moves in an unexpected direction (the risk) by the amount of profit the trader expects to have made when the position is closed (the reward). It is very important to calculate your R:R before entering a trade. Sometimes the trade might not be worth the amount you're risking vs the reward you can get. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️

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The Benefits of Keeping a Trading Journal for Your Psychology Trading can be a challenging and emotional endeavor. As traders, we must navigate through various market conditions, deal with losses, and manage our emotions. It's not surprising that many traders struggle with maintaining their psychological balance. However, one tool that can help traders keep their emotions in check and improve their trading is a trading journal. A trading journal is a document or software that traders use to track their trades, analyze their performance, and record their thoughts and emotions during the trading process. Here are some of the benefits of keeping a trading journal for your psychology: Self-Awareness Keeping a trading journal helps traders become more self-aware of their thoughts, emotions, and behaviors while trading. By recording their trades and reviewing them, traders can identify patterns in their behavior, emotions, and decision-making. This self-awareness can help traders recognize their strengths and weaknesses, and develop strategies to improve their trading. Improved Decision-Making A trading journal can also help traders make better decisions. By analyzing their trades, traders can identify mistakes they made and learn from them. They can also identify successful trades and analyze what they did right. This process can help traders develop a more effective trading strategy and improve their decision-making skills. Accountability A trading journal can help traders hold themselves accountable for their trading decisions. By recording their trades and emotions, traders can see where they went wrong and take responsibility for their mistakes. This accountability can help traders learn from their mistakes and avoid making the same ones in the future. Stress Management Trading can be a stressful activity. By keeping a trading journal, traders can vent their emotions and reduce their stress levels. Writing down their thoughts and emotions during trading can help traders release their negative emotions and feel more relaxed. This stress management technique can help traders maintain a healthy psychological state while trading. Goal Setting Keeping a trading journal can help traders set and achieve their goals. By recording their trades and analyzing their performance, traders can identify areas where they need to improve and set goals to achieve those improvements. These goals can be related to profitability, risk management, or any other aspect of trading. Setting and achieving these goals can help traders feel a sense of accomplishment and increase their motivation. In conclusion, keeping a trading journal is an excellent tool for traders to improve their psychological state while trading. By increasing self-awareness, improving decision-making, holding oneself accountable, managing stress, and setting goals, traders can improve their overall trading performance. Therefore, it's highly recommended for traders to keep a trading journal to improve their trading psychology.

Education

The Process of Creating Strategy Hello traders, In this post i am going to show that how we can create and develop the trading strategy that works. Now the first step we need to do is just search and find the any trading method that suitable for us for example that would be like elliott wave, ict concept, VSA, just using indicators and maybe you can also create your own method and backtest it. when you learned the method now its time to create your trading rules every strategy has own different rules like what is your risk to reward ratio? what is your trade management plan? either you manage your trade or just take the trade and come back after its hit TP or SL, how much is your daily limit means how much trades you will be taking in a day or in a week if you want to become a swing trader depends on you, what is your risk per trade? can you will be cutting the risk to half or just use fixed risk after lose trade? what is your daily limit of losing? can you hold trade overnight or over weekend? what is your trading timeframe? what is your trading sessions? etc... These all kind of rules you will be require to create for yourself they might be different rules depends on your strategy method now we learned the method and created the rule move forward to the next step is open the live demo trading account and trade with your strategy and apply the rules don't break the rules that you created trade at least 30 days and journal your data your taking trades after 30 days check the journal you will see your data for example in your rules you set 1/2 risk reward ratio so you need to have around 40% winning ratio check the journal check the results did you have a 40% winning ratio if the answer is yes then good to go i am sure that you know what to do next but if you failed and your winning ratio is below 40% now analyze your journal data the trades you taken you will see some of bad trades that you don't wanted to trade again just avoid those trades next time and try again the process for the next 30 days. repeat the process one day you will be profitable and consistent but if you not then try again again learn from your mistakes and don't do that mistakes again. When yo have been profitable this is the time you wanna enter in the market open the real live trading account and start trading with your strategy and follow the rules that you created for yourself run the process and always remember trading is not quick rish scheme you need to have a lot of patience, trading is a long run game like marathon race and its required patience. some of my advice is don't try to break the rules, don't depend on one trade, some times market will give you some results that you don't want from it but be patient and be consistent with your strategy with your rules, you will be facing drawdowns but that is the learning process you will learn a lot from the drawdown so with the time you will be better consistent and be profitable just don't leave the process too soon and believe in yourself and try again again and again, trading is a very beautiful and also the easiest thing to live life but firstly in the starting it required from us to pass the test. trading is a very easiest thing but also a very hardest thing. i hope you find this post useful, i wish you good luck and good trading. If you like the post, boost my work with like comments and share thanks!

Education

Top Mentors in Finance and Business Mentors play a critical role in guiding individuals and businesses towards achieving their goals. Whether it's in finance, business strategy, market analysis, or cryptocurrency, the insights and experiences of successful mentors can be invaluable assets in navigating through complex situations and making informed decisions. In this article, we will explore some of the most popular mentors in these fields and highlight their contributions to their respective industries. From Warren Buffett to Andreas Antonopoulos, these mentors have made significant impacts and continue to inspire and educate aspiring individuals and businesses around the world. Finance Mentors: 1. Warren Buffett - Widely recognized as one of the most successful investors of all time, Warren Buffett is the chairman and CEO of Berkshire Hathaway. He has a long-term investment approach and has made successful investments in companies such as Coca-Cola, American Express, and IBM. 2. Ray Dalio - Founder of Bridgewater Associates, one of the world's largest hedge funds, Ray Dalio is a successful investor and philanthropist. He is also known for his unique investment principles, such as "radical transparency" and "radical honesty." 3. Jim Rogers - A well-known investor and author, Jim Rogers has written several books on finance and investing, including "Investment Biker" and "Adventure Capitalist." He is also the co-founder of the Quantum Fund with George Soros. 4. Nassim Taleb - A former trader, Nassim Taleb is the author of the best-selling book "The Black Swan," which explores the impact of unpredictable events in financial markets. He is also a proponent of the idea of "anti-fragility," which suggests that systems should be designed to benefit from shocks and volatility. 5. Paul Tudor Jones - Founder of Tudor Investment Corporation, a hedge fund with a long and successful track record, Paul Tudor Jones is a prominent investor and philanthropist. He is also known for his philanthropic work through the Robin Hood Foundation. Business Strategy Mentors: 1. Michael Porter - A leading authority on business strategy, Michael Porter is a Harvard Business School professor and author of several books on competitive strategy, including "Competitive Advantage" and "The Five Forces." Clayton Christensen - A Harvard Business School professor and author of several books on innovation and disruptive technologies, Clayton Christensen passed away in 2020 but remains a highly respected mentor in the field of business strategy. 2. Gary Hamel - A management expert who has written extensively on innovation and strategy, Gary Hamel is a founding member of the Management Innovation eXchange and the author of several influential books, including "Leading the Revolution." 3. W. Chan Kim - Co-author of the best-selling book "Blue Ocean Strategy," W. Chan Kim advocates for creating new market spaces rather than competing in existing ones. He is also a professor of strategy and international management at INSEAD. 4. Anita Elberse - A Harvard Business School professor who specializes in the entertainment and media industries, Anita Elberse is the author of the book "Blockbusters," which explores the strategies used by successful entertainment companies. Market Analysis Mentors: 1. Peter Lynch - A former fund manager who is known for his investment strategies and his ability to identify undervalued companies, Peter Lynch is the author of the best-selling book "One Up on Wall Street" and "Beating the Street." 2. John Murphy - A technical analyst who has written several books on the subject, John Murphy is known for his work on intermarket analysis and is the author of "Technical Analysis of the Financial Markets." 3. Martin Pring - Another technical analyst who has written extensively on market indicators and technical analysis, Martin Pring is the author of several books, including "Technical Analysis Explained" and "The Complete Guide to Technical Analysis." 4. Ralph Acampora - A chartered market technician who is known for his work on chart analysis and market cycles, Ralph Acampora is a frequent guest on financial news networks and the author of "The Technical Analysis Course." 5. Ed Seykota - A former trader and one of the pioneers of computerized trading systems, Ed Seykota is known for his work on trend-following and Cryptocurrency Mentors: 1. Andreas Antonopoulos - A prominent cryptocurrency educator, Andreas Antonopoulos is the author of several books, including "Mastering Bitcoin" and "The Internet of Money." He is also the host of the "Let's Talk Bitcoin" podcast and has given numerous talks on the subject. 2. Vitalik Buterin - The founder of Ethereum, Vitalik Buterin is a prominent figure in the cryptocurrency world. He has been involved in the development of several blockchain-based projects and is known for his work on smart contracts. 3. Charlie Lee - The founder of Litecoin and a former Google engineer, Charlie Lee is a prominent figure in the cryptocurrency community. He is also a vocal advocate for the adoption of cryptocurrencies as a means of payment. 4. Cameron and Tyler Winklevoss - The Winklevoss twins are known for their early investment in Bitcoin and their efforts to establish regulated cryptocurrency exchanges. They are also the founders of Gemini, a leading cryptocurrency exchange. 5. Changpeng Zhao - The founder and CEO of Binance, one of the world's largest cryptocurrency exchanges, Changpeng Zhao is a prominent figure in the cryptocurrency world. He is also a vocal advocate for the adoption of cryptocurrencies as a means of payment and has been involved in several blockchain-based projects. In conclusion, the above mentors have made significant contributions in their respective fields and are highly respected in their industries. While their teachings and philosophies may differ, they have all played a crucial role in shaping the way we think about finance, business strategy, market analysis, and cryptocurrencies. Aspiring individuals and businesses can benefit greatly from their insights and experiences.

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The Two Types of Risk Management Plan Hello traders, 1) Fixed Risk Calculates position size for next trade as a percentage of account depend on how much risk you willing to take every time every trade you taking you need to use fixed risk for every trade like for example 1% risk per trade so in this type of risk management plan we should require 100 losing trades in a row to blowing out our account a lot of people just using this simple method and this is very easy and understandable. 2) Cutting the Risk : In this method cutting the risk we just normally trade 1% risk per trade but if we lose that trade so we just cut the risk to half for example if i trade with 1% risk and i lose so now the next second trade which i am taking i will be using 0.5% risk in that trade if i lose then i will be just keep using the same risk 0.5% some traders are are keep reducing the risk size like they come all the way to to 0.25% maybe they work for it but in our scenario if we keep losing we will be not reducing more than 0.5% risk per trade and when win comes then after our winning trade we will be back to the normal risk which is 1% risk per trade and keep trading with 1% risk per trade so short summary is if we lose cut the risk to half if we when if we win back to the normal risk if we win again stay with same normal risk but if lose then reduce the risk to half. The reason behind that is in the fixed risk you have 100 traders to blowing out your account means 100 chances but in cutting the risk now we just calculate if we lose 100 trades in a row like fixed risk we would not blow out our account,, let's say we take our first trade and we lose now we are in -1% then another trade we will be taking with 0.5% per trade risk so here is 0.5% × 100 trades = 50 means if we continue to lose in a row after 100 trades we will be facing -50 draw down, so cutting the risk to half after lose trade is the safest method who wants to play safe and more chances to survive in the market. I wish you good luck and good trading. If you like the post, support my work with like comments and share thanks!

Education

One Trade Does Not Define Your Trading Performance... Hey traders, 👨🏻‍💻I am trading forex for more than 8 years. During the last 5 years, I am actively posting my analysis & trades on TradingView. Growing my audience, it was very peculiar for me to contemplate the reaction of my followers to my trading performance. (by the way, we must say thanks to tradingview where the posting system does not allow to delete the posted trades so that each and every author is easily backtestable). 👩‍👩‍👧‍👧👨‍👨‍👧‍👧Those who follow me at least a half a year know that occasionally I have winning streaks when 9 out of 10 of my forecasts play out nicely. Sometimes, however, I face the drawdowns and catch a sequence of losing trades. And sometimes the performance is mixed with the probabilities being on my side slightly. 🥇While the reaction to winning streaks is quite predictable: I am praised by the members and get nice tips. The reaction to losing streaks is worth discussing in detail. It turned out that quite a huge portion of a trading community has a completely wrong understanding of a trading nature. 🤬The single loss is considered by them to be a failure, a mistake. Facing the sequence of losses, they quickly become negatively biased to the person that they have just recently praised. With the continuation of a drawdown, they blame the analyst and launch a barrage of criticism towards him. 🔍Then they are in a search again. They are looking for a trader that will be constantly right. Catching the new one during a winning streak, the cycle repeats. At some moment such people become disappointed in trading and drop this business... ❗️Losses, losing streaks and negative days/weeks/months are inevitable. If you want to become a full-time trader, you must be prepared for the fact that trading won't give you a stable income. Your equity curve will be in constant fluctuation. Your goal in this game is simply to lose less than you make. You must become disciplined enough to keep following the rules of your trading strategy no matter what. You must learn to be consistent in your actions. You should learn to perceive losing trades not as a failure but simply as the moment when the market takes its share. Feeding you, giving you the opportunity to make money out of thin air, the market definitely has a right to claim its dividends from you. ⭐️Change your mindset, learn to lose and the magic thing will happen. Let me know, traders, what do you want to learn in the next educational post?

Education

by VasilyTrader

Buffett's Strategy for Modern Markets Warren Buffett's Investment Model: Adapting the Oracle of Omaha's Strategies to Today's Markets As someone deeply inspired by Warren Buffett's investment principles, I've always been fascinated by how his strategies can be adapted to the ever-changing financial landscape. In exploring this subject, my goal is to share valuable insights that fellow investors can apply in today's dynamic markets while still drawing from the wisdom of the Oracle of Omaha. Warren Buffett has long been hailed as one of the greatest investors of all time. His value-based investment strategy has proven to be wildly successful for decades. However, as the financial landscape evolves, it's essential to examine the continuing effectiveness of his approach in today's markets. This article will explore key aspects of Buffett's investment model and assess which elements remain relevant and which may have lost their edge. Section 1: The Core Principles of Warren Buffett's Investment Model 1.1 Long-term value investing a. Patience and discipline: Buffett's approach requires investors to patiently wait for opportunities to buy undervalued stocks and hold them for the long term, often ignoring short-term market fluctuations. b. Margin of safety: Buffett emphasizes purchasing stocks at a discount to their intrinsic value, providing a margin of safety and reducing the downside risk. c. Dividends and reinvestment: Buffett's model often focuses on companies that pay stable and growing dividends, which can be reinvested to compound returns over time. 1.2 Moats and competitive advantage a. Pricing power: Companies with strong pricing power can increase prices without significantly affecting demand, providing a competitive edge. b. Brand recognition: A strong brand can create customer loyalty, making it difficult for competitors to gain market share. c. Cost advantage: Companies with a cost advantage can offer products or services at lower prices or enjoy higher profit margins, increasing their competitiveness. 1.3 Focus on quality businesses a. Financial health: Buffett seeks companies with low debt levels and strong cash flow generation, indicating financial stability. b. Management quality: A capable management team is crucial to a company's success, with Buffett prioritizing companies led by experienced and shareholder-oriented leaders. c. Consistent earnings growth: Companies with a history of consistent earnings growth are more likely to deliver strong returns over time. Section 2: The Changing Landscape: Points of Buffett's Strategy Losing Effectiveness 2.1 Ignoring technology and growth stocks a. Missed opportunities: Buffett's aversion to technology stocks has caused him to miss out on significant investment opportunities in companies like Amazon, Google, and Apple. b. The rise of disruptive technologies: The rapid pace of technological innovation has led to disruptive companies reshaping entire industries, with early investors in these companies often reaping substantial rewards. c. The importance of adaptability: Investors should be willing to adapt their strategies to recognize the changing landscape and embrace new investment opportunities. 2.2 Relying on financial statement analysis a. The limitations of traditional metrics: Metrics like price-to-earnings (P/E) and price-to-book (P/B) ratios may not accurately capture the value of companies with significant intangible assets. b. The role of intangibles: Intangible assets, such as intellectual property, customer relationships, and brand value, are increasingly important drivers of business success. c. Alternative valuation methods: Investors should consider incorporating alternative valuation methods, such as discounted cash flow (DCF) analysis and relative valuation techniques, to better assess a company's true worth. Section 3: Adapting Buffett's Investment Model to Today's Markets 3.1 Embracing technological innovation a. Identifying future industry leaders: Investors should seek out companies with innovative technologies that have the potential to become industry leaders in their respective sectors. b. Focusing on long-term growth potential: While some technology and growth stocks may appear overvalued by traditional metrics, their long-term growth potential may justify a higher valuation. c. Balancing risk and reward: Investing in technology and growth stocks may carry higher risks, but also the potential for greater rewards, which can be balanced through careful portfolio diversification. 3.2 Diversification across industries and geographies a. Expanding investment horizons: By investing in a variety of industries and regions, investors can capitalize on global growth opportunities and reduce dependence on specific sectors or markets. b. Mitigating regional risks: Diversification across geographies helps to mitigate risks associated with regional economic downturns or political instability. c. Harnessing the potential of emerging markets: Investors can seek opportunities in emerging markets with strong growth potential and favorable demographic trends, further diversifying their portfolios. 3.3 Incorporating ESG factors a. Long-term sustainability: Companies with strong ESG performance are more likely to be sustainable in the long term, aligning with Buffett's long-term value investing approach. b. Improved risk management: Incorporating ESG factors into the investment decision-making process can help identify potential risks and opportunities that may not be apparent through traditional financial analysis. c. Growing investor demand: As ESG investing gains traction, companies with strong ESG performance may attract increased investor interest, potentially driving higher valuations and returns. Warren Buffett's investment model has been highly successful for decades, but it's essential to adapt his principles to the ever-changing financial landscape. By embracing technological innovation, diversifying investments, and incorporating ESG factors, investors can continue to benefit from the wisdom of the Oracle of Omaha while navigating the complexities of today's markets.

Education

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