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Trading Psychology

Weekly Quote | 7 Rules of a Consistent WinnerHello trader, here's a quote from the great book "Trading in the Zone". Hope you'll find some inspiration or maybe even practical advice here. I'm a consistent winner because: 1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept risk ($ risk, risk of not being right, not being perfect, being wrong, losing money, missing out, and leaving money on the table). If not - I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me (take partials). 6. I continually monitor my susceptibility for making errors (emotional pain or euphoria). 7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them. Best Regards, Dima
OANDA:XAGUSDEducation
by Yelli_trades
2
Secret of trading mentality Hello traders 👋 Trading Mentality First of all, ask yourself this question. ❓ How did trading impact your life ❓ It is important to remember trading could help you reach financial freedom or could easily destroy your life. Everyone knows 90% of the time people lose their money while trading. But it doesn't stop them from trading. Once you start trading it's hard to give that up. Therefore, for anyone who is sure about starting their trading journey. Please pay attention to the following friendly advices. What to keep in mind when you trade ❓ Technical analysis and indicators are tool to help you do presumptions about trade, not a gaurantee that you will have successfull trades. For example, it is possible that you will have 9 out of 10 successfull trades and lose everything on the 10th trade. So what I'm trying to say is, instead of trying too hard to do presumptions. It is also important to prepare your trading mentality. What is trading mentality ❓ Anyone who trades studied more than enough about stop lose, risk management and technical analysis. Even though traders studied and uses all of the above, they still lose they money. Traders shouldn't be paying more than necessary attention to these. When traders start making profit, they start to release dopamine chemical in their brain. This chemical makes you feel good about your confidience, mentality and makes you forget about your fear of losing. For instance, when you fund your account with $500 and you want to make that incease to $10,000. You will start to think irrationally, make wrong decisions and lose. When you start losing, it negatively impact you financially. You can lose one month worth of salary clicking one button. More you lose more you become stressed and desperate to trade not to feel defeated. When start trading, your brian starts release dopamine again. You body feel more relaxed and feel less negative thoughts.You brain fill with happy thoughts. You will oversee your studies which you spent so much time on and lose money again. If it keeps go on, your life will go down rather than up. How to prepare for all this? Of course controlling your mentality. Next lesson will be on how to control your mentality. Trader, Doctor B.Yertunts
Education
by YertuntsTrader
2
Pairs You Trade? What Sessions Are Open When You Are Trading?What Pairs Should You Trade? What Sessions Are Trading When You Are Up? * Use Your Commonsense!!! The best forex pairs for you to trade will depend on many factors: What time of day you will trade Whether you are interested in making a long-term investment to achieve larger profits or are happy to scalp smaller profits many times each day Your knowledge of currency, the forex markets and global economies Should you trade (example) USD/JPY pair when Tokyo is in session? Yes, because half of the pair is in session and both volume and liquidity is moving markets during this time. AUD/USD pair when Tokyo and/or London sessions are open only? No, because Sydney session has closed and New York has not opened yet. EUR/JPY pair when London and/or New York Session are open only? Yes, for overlapping London/New York session, but no once London session closes. USD/CAD pair when Sydney, Tokyo or London is open only? No, because both sides of these pair are open during New York only- so trade only during NY. In my opinion and one of my rules is: at least half of the pair needs to have current session open and trading, if both parts of the pair are in session (say: Tokyo and London overlap (EUR/JPY pair) or London and New York overlap (EUR/USD)- that will give you the most volume and liquidity in these pairs, thus movement in the pairs is much easier. In Forex: Commonsense is a must, Patience is a must, Risk Management is a must and knowing what sessions are open and giving liquidity & volume is a must.
Education
by Anbat
6
Finding your optimal performance 🏃‍♂️Most traders spend a good bit of time looking at charts. Well here is a chart we traders should all take a look at. The chart shown is the Yerkes-Dodson Law. The Yerkes-Dodson law is a proposition that people perform best at intermediate levels of arousal, and that performance is lower at high or low levels of arousal. The theory behind this is visually represented by the graphic in this idea. No arousal levels or a bored/laidback approach to life will mean no stress but no real performance in what you are trying to achieve or do. However when arousal and stress gets too high by pushing to hard, performance starts to decrease. It's about finding the right balance to achieve an optimal performance. A certain level of stress about what you are trying to achieve motivates you to study, learn or train in order to do your best. A sportsperson has to get bumped up before an event as well as train hard, But getting to worked up and training to hard could cause a decrease in performance when it comes to the event. Pushing not hard enough to pass an exam will lead to a fail as you haven't studied or don't care, But also pushing to hard could lead to a fail as you've let stress and anxiety take over forgetting everything you studied. Moderate levels of arousal is best for overall performance. This theory can be applied to your trading. Take a non interested approach or bored approach and you performance in this area will be affected. Less potential profits etc. Get to focused on your trading or trade to hard could lead to poor performance along with a load of stress in your life. You as an individual will have to self reflect and determine where you fit on the curve in the idea graphic. If you fell more success, achievement and happiness can be had, by all means crack on and go for it! However, if you are getting to a point where you feel you might have reached your limit, it could well be time to dial it back a bit. Don’t push to hard for it that you go down the opposite side of the curve. This theory can be applied to every aspect in your life by using it to balance all aspects of your life will also help your trading as well as work, relationships and everything else we all go through day to day. Thanks for taking time to read this. Darren 🙌
Education
by pow_removetheguesswork
'Trading Psychology: 'The 3 Levels of your Game'Hello Traders, As we know trading is one of the most challenging professions in the world and not only do you have to do your research and own due diligence on a technical aspect, you must ensure your mind/emotions are on point as it is the most common reason traders lose money in this industry. I wanted to share a bit of information from a mental and emotional standpoint about breaking down the 3 levels of your Psychology Game. . No matter how skilled one trader is, everyone has an area that could improve and everyone will make mistakes. The 3 main mistakes we as traders make are: To summarize this chart, the differences between 'B' and 'C' game is that in the 'B' game you have the impulse or thought to make a 'C' game mistake, like closing a trade too early or forcing a trade. Instead you retain the presence of mind and emotional control to avoid it. In your 'C' Game, your emotions are too strong and you cannot stop yourself from forcing trades or cutting profits short. While in the 'A' game, the impulse or thought doesn't happen, or its too small you barely notice. Your goal to as a trader is to eliminate and correct your performance errors that cause your 'C' game. You cannot by escape how much of the gravitational force 'C' game has by focusing on improving just your trading skills and knowledge. You will continue to make the same errors (possibly different ones, but errors are errors) which will create a level of excess negative emotion in your mind. Creating and plan of emotions to examine & review on a daily basis will help you correct your failures and fill you with a different type of emotions, happy ones. By writing down your thoughts of what is going on before, after and during, you start breaking down the backend of your trading and your decision-making becomes much easier and more confident. Creating a plan of your emotions could come with a variety of things, some of the most common ones to watch out for are: -Trigger (eg. Swing trading forex) -Thoughts (eg. I can't believe I got stopped out, it has to go up!) -Emotions (eg. I want revenge on any trade that I lost which I know I should have won!) -Behaviors (eg. Overly focused on one position) -Actions (eg. Constantly looking at P/L) -Changes to your decision-making (eg. I need to get my money back, I need to trade more) -Changes to your perception of the market opportunities or running positions (eg. Your going off prediction rather then reaction) -Trading Mistakes (eg. I'm taking the same trade over and over, until its clear I'm getting no where) Journaling down these emotions and also reviewing them on a day to day, trade to trade, basis, will help your trading game improve and make you become much more successful. I hope this has given a brief insight on how trading psychology plays a huge role in our careers, please leave a comment and share what level of game you are! If you felt this has shared some good information, please hit the like button and follow me for more of these! Thanks Trade Safe!
COINBASE:BTCUSDEducation
by ktlfx
1
5 classics ways to open a trade 1. By anticipation: You guess the imminent start of a trend and you decide to enter a position without waiting for a confirmation signal. For your portfolio, this is a highly profitable approach when it works but ultra destructive if it fails. It goes without saying that you will need nerves of steel because before you are right, the time may seem long, very long. And be careful not to panic in the middle of the process, it would be a pity to have paid spread and commissions for peanuts at the end. 2. On signal: Something you were expecting confirms your initial analysis. A breakout for example. You enter the position as soon as it happens. From an operational point of view, the approach is relatively clean, but false signals are legion in the market. Still, with a stop and good money management things could go well. After all, this is probably the most common way for a trader to enter a position. 3. Waiting for a pull back: While not a panacea, this method will probably increase your chances of success. This is the double-checking strategy of the most cautious traders. The biggest risk here is to see the trend go without you towards the target, because after all, pullbacks are not mandatory. However, this is still relatively rare and is one of the safest ways to enter a position. 4. In several times: Another good way to reduce your risk would be to decide to enter the position in several times. In 2 or 3 times for example. This way you never put all your eggs in one basket. You trigger your first trade and then wait to open the next one only when it has been secured with a zero stop. And so on... This is one of the best entry options. Its main disadvantage is that because of its model, overall you will slightly underperform your average winning trade. This technique is great for trend following, much less so if you are scalping. 5. Late: You identify the opportunity long after the trend has started. But everything seems ok, the risk seems almost zero. You know that you can still open a trade. Perfect, the only downside is that you are far from the high point. The risk here is the drawdown. Obviously, with a very low risk/reward ratio, even negative, a mistake could cost you a lot. Make sure the risk is worth it. And if it is, never enter any way. Despite your delay, always optimize your entry position... Especially your stop.
Education
by ForexGoldenBoy
5 BIG MISTAKES TRADERS MAKE!Hey traders, I've had the privilege to have been involved in trading, both retail trading and working within a prop firm for many years. The biggest benefit I get, is to work with so many different traders with so many different strategies, personalities, timeframes, assets, you name it. I've probably worked with a trader that trades it. Now, there's a few things that are extremely common in all traders, regardless of what or how they are trading. It's the same mistakes that keep making traders fail. So today, I'm going to explain what five of these mistakes are and how to avoid them. I will also discuss how to incorporate them to ensure that you don't get hit by the stone wall that many traders do. If you have any extra information to add, please do so in the comments. I look forward to hearing from you all. TRADING WITHOUT A PLAN This right here is the biggest one and this is usually for the early beginners or even strategy jumpers. You must have a plan. That is non negotiable if you ever want to see some kind of consistency in training. I can tell you from experience, both personally and with working with traders from firms, that the more in depth that plan is, the better chance of success. The same way you create a business plan before launching a new endeavor. The same way you create a game plan for your team before you go out and verse the opponent. The same way politicians plan out their PR campaigns before running for office. You must have a thorough trading plan. A plan can consist of a multitude of different things, from understanding what you're willing to lose, understanding overall position size, understanding your trading strategy, minimizing drawdowns, maximizing profits, the assets you are trading, the times you're going to be trading, how much time you actually going to be allocating to trading and setting up goals. A trading plan must be thorough, so you can not only track your progress, but when you start getting unmotivated or confused, you have something to look back on to realign you with where you are and where you want to be. My final advice with your trading plan is stick to it. You will have bad trading days. You will have bad trading weeks. You will have bad trading months. Stick to your plan. OVERTRADING We've all been there. It's the start of a trading session. We've opened two positions. They've both gone on to be fantastic winners. You're unstoppable. Nothing can possibly go wrong from this point. You have mastered the markets. You are the best trader the world has ever seen. So what do you do? You open another seven positions because it's just free money on the table. And what happens? All seven of those positions lose, wiping off your original profit and some. This is so common in beginner traders. It's that aspect of unpredictability that they forget about in the markets. Trading too much too soon is a serious issue and it needs to be worked on as soon as possible. I understand the excitement of being live in the markets, the excitement of the profits you could earn day today, but the reality of the situation is if your brand new. Trading too much is going to be a serious issue. What sitting back watching and not trading does is not only increases your patience, but also allows you to analyze the markets in a clearer state of mind, making your future decisions a whole level ahead. Add that into the plan, give yourself a maximum number of positions per day if you are new. Trust me, it's going to help you progress. FAILING TO CUT LOSSES I've spoken about this a lot, especially in one of my recent webinars. A lot of traders are taught the whole set an forget method, and I'm not a big fan of it, but in some circumstances I won't lie. Yes, it does work. But a lot of the time, these trade ideas that they're in there actually give massive warning signals prior to hitting the stop loss that they are going to do that. The trader could have cut those losses a lot shorter. Now don't even get me started on traders that don't use a stop loss. What I wanted to do really in this segment is dive into the emotional side of failing to cut a loss. It's true. I remember experiencing it early on my trading career, that feeling of when a trades going against you, but you did all the analysis, so it shouldn't be going against you. So what do you do? You hold on with hope and temptation that it will turn for the better. The reality of the situation is in very, very rarely does. It's a horrible feeling because some traders are prone to even giving those trades more room, adding to the position, moving there stop loss, removing their stop loss altogether. Everything you shouldn't be doing in the time that your analysis is going against you, most traders lean towards because they done all the research they needed to do and they cannot comprehend bring wrong. The best way to battle this feeling, if you've ever felt it or still to this day feel that urge, is going back to number one. Trading with a plan. Have a plan. Risk management plans are the greatest things ever. We can plan for the absolute worst so when it does come in and everyone's going manic everywhere, we know exactly what to do, where to be and how to position ourselves. This will help you learn to cut those losses. NOT UNDERSTANDING LEVERAGE The world changed times are changing. You can access any type of information or access pretty much any type of market you want at the click of a button by the glorious internet. Same goes with trading is probably how most of you have gotten here, or even just into trading as a whole. The thing is, we reach out to these brokers and we open accounts with small amounts of money and they offer us great deals like 300 hundred or even 500 to 1 leverage. That means with $1000 account, you can open $500,000 of currency. Now, the reality of the situation is most traders will never use all of that leverage. But as a result is that most trade is also wouldn't have experienced a no money call when opening a position, or perhaps a margin call, or a true understanding of when they put in 0.5 lots of EURUSD, what they are actually doing. Leverage is a great tool. Fantastic tool. When used correctly. Working at the firm, had so many traders reach out. They keep getting an error code. They say, "I can't open this position!? WHY!?!" and it's all because they don't have the margin requirements to actually open that position and it is alarming to see how many traders don't fully understand what leverages and margin is considering they have used it for years. When you open a position of 0.5 lots on a U.S. dollar currency pair, for example, UUSDJPY. You are opening a position size of $50,000. You have just entered a $50,000 position. That means you are actively managing $50,000 while you are in that position. Let that sink in. Now that's just a position of 0.5 lots. There is traders pit there trading 10-100 lots and it is just baffling to understand the amount of risk there actually taking in accordance to their account size. Do your research. Understand your position size and when you're doing your trading journal. Instead of doing lot sizes in your trading journal, I recommend you do actual position size, value. That will give you a much better understanding on the risk you undertake when you take positions and also if you can, lower your leverage. You don't need 500:1. BEING ABLE TO ACCEPT LOSSES Now this is a fun one and this is what I really wanted to chat about. Being able to accept losses can be one of the most damaging things a beginner trader can ever have, because what happens is they lose the value and respect that the market can take their money. Every market "guru" and every trading course out there tells you to remove emotion from the equation, accept that losses are gonna be a thing, and trade knowing that. Now most people go, "OK, let's do that." and surprisingly, they actually managed to pull it off. Which actually creates a bigger problem. They become reckless. They no longer care if there's a little bit of parameters different from their trading plan. They no longer care if there's key indicators that the trade idea is wrong because, "we're going to have losses. So what? This one might as well be one. If you're not in the market, you're not going to make money." they become reckless. Do not remove emotion from your trading. Incorporate emotion into your trading and once again this results back to the first tip. Trade. With. A. Plan. Traders, that is all for me today. These are five things that I've noticed in struggling traders which seemed to be a common recurrence. Thank you for your time. I hope you enjoy the read. As always, have a fantastic trading week. -Jordon Mellor
Education
by the5erstrading
14
8 mental instillations for priming to trade.These are 8 things I start my trading session with. They help me greatly, and hopefully some of them can be beneficial to you. Once again, trading is mostly understanding yourself and what works for me and makes me tick may not transfer to you exactly the same way. But there are definitely some general ideas that can be gathered from different sources. Mine were gathered from many different areas: 1. "Good. It can always get worse." - This mental priming ensures that I am grateful for whatever situation I am in at this moment in time. Losses the day before? Good. It can always get worse. Profits the day before? Good. It can always get worse. This mental model completely removes dwelling, and substitutes it with practical gratitude. Very helpful. 2. "I don't know what today will bring. But I do know what mind I bring to the moment of performance." - We cannot possibly control the market. Thus, we do not know what today's trading session. We absolutely cannot know that. Therefore trying to know puts us completely out of sync with the market. Instead, we do know what mind we bring to the moment of trading performance. Do we bring calm and poised mind? Or do we bring chaotic and anxious one? 3. "My goal is to trade well. To do that I must make good decisions. To make good decisions I must operate out of mindstate similar to that of a hunter." 4. "Mindstate of a hunter - state of being that is sharp and deliberate, calm but alert, ready to pounce yet patient, aware of risk on one hand and reward on the other. Hunter - is present, as the moment of performance requires to be in the Now. To be in Present - means to accept it for what it truly is, and not what is desired to be. The Pull from The Present is by definition The Pull from the Hunter mindstate. 5. "There are absolutely no limits to the performance. It can get as great as it can be. Everything solely depends on the decisions you bring to the moment of performance. If they get better, so does the performance. As there are no limits, the decisions in the Present must be made without the imposed limits or other benchmarks in Mind." 6. "Easy is Right. This process should not be hard. It should be easy. And light. This is Light Work. Life should be easy. Money and profits should come easy. When you know when there is a trade or there is no trade - trading becomes easy. You ride the wave, you ride the wave. Relationships should be easy. Easy is good. Easy is Right." - If it feels difficult then we are doing something wrong. Of course in the beginning when learning it can be difficult, but overall when trading well it should be easy. Almost effortless. 7. "There is an abundance of resources and opportunities. There is always a whale to hunt. We live in the Kingdom of Plenty." - This puts me into abundance state of mind and helps to see abundance in opportunities. 8. "The process of 'The Hunt' must be - once a Market Structure Point of Interest is broken - we are on waiting for that prey." - Similar to some predators who wait in bushes until their prey get into the most optimal state to get hunted, in that same fashion we are waiting for setups to brew properly. Effectively we are hunting other market participants. It's up to us to decide whether we are hunters or prey. ___ After getting primed with these I feel much better to operate in the uncertainty of the markets. Meditate on these points, some of them will definitely be helpful. Cheers. Lightwork_
Education
by Lightwork_
2
W.D. Gann’s 28 Trading Rules - Part 2When you decide to make a trade be sure that you are not violating any of these 28 rules which are vital and important to your success. When you close a trade with a loss, go over these rules and see which rule you have violated; then do not make the same mistake the second time. Experience and investigation will convince you of the value of these rules, and observation and study will lead you to a correct and practical theory for successful Trading. Like and follow for more!
Education
by UnknownUnicorn33550147
3
OXY, A TRUE example of FALSE break out !Regardless of what legendary investors (Like Warren Buffett ) or famous traders do, we always should trade our own strategy. OXY was fighting with a strong static resistance and finally lost the battle. We have 9 hits to this static line which shows how powerful it is. False break outs are among the most common traps in trading . Although the concept is very simple , many traders fall simply into the trap just because of lack of patience or weak risk management strategy. Please keep this words in mind and I promise you will be the winner in long term : " Be sure about a break out before jumping into a trade " . True break outs have three conditions: 1. Break out should be done by a strong high volume bullish candle and at least 50 % of body of such candle should be placed above the valid resistance. 2. A pull back to broken resistance and rotation is necessary to be sure about true break out. Please note sometime we may not see a complete pull back ( if there is a support before broken resistance) but who can accept the risk of false break out? 3. Continuation of movement in direction of break out. Occidental Petroleum fulfilled first condition in it's last attempt ( if we close our eyes to volume) with a gap up bullish candle above the resistance. It made also a pull back but no rotation and continuation of the upside movement came after that. It means we had a false break out. I investigated false break outs of a dynamic resistance in my previous publication on BTC and here I showed an example of false break out of static resistance. Regardless of type of resistance (dynamic or static) , concept is the same. True break out setup has been shown on the chart. As you see the concept is very simple. Please keep this concept in mind and believe me you won't regret. Wish you huge profits and good luck.
NYSE:OXYEducation
by SaeedSajedi
5
What are True and False Break Outs ?False Break outs impose considerable loss to traders. How to recognize a false break out? To recognize a false break out we should first learn what is a true break out? In fact,simply, Every break out which is not a true one is a false break out. BTC in it's recent movements shows two beautiful example of false break outs. As shown on the chart, we have a dynamic resistance line with three clear rejections and two false break outs. It means before 1st break out which was 4th rejection BTC had a chance to break out the resistance but it never succeeded. Why? A true break out has three important conditions : 1. first of all, Break out should be done by a strong high volume bullish candle and at least 50 % of body of such candle should be placed above the valid resistance. 2. A pull back to broken resistance and rotation is necessary to be sure about true break out. Please note sometime we may not see a complete pull back ( if there is a support before broken resistance) but who can accept the risk of false break out? 3. Continuation of movement in direction of break out. As we can see, BTC in it's 4th and 5th attempts to break the line was unsuccessful even to fulfill the first condition. Also shown on the chart is what could have been a true break out. Although simple in concept, false break outs are headaches for some traders. What makes traders to fall in the trap of false break outs is not because of complexity of the concept ( As it is very simple ). It is about controlling emotions and psychology. Good luck everybody.
COINBASE:BTCUSDEducation
by SaeedSajedi
6
W.D. Gann’s 28 Trading Rules - Part 1When you decide to make a trade be sure that you are not violating any of these 28 rules which are vital and important to your success. When you close a trade with a loss, go over these rules and see which rule you have violated; then do not make the same mistake the second time. Experience and investigation will convince you of the value of these rules, and observation and study will lead you to a correct and practical theory for successful Trading. Like and follow for more!
Education
by UnknownUnicorn33550147
Stand Up Strong, Do It Again - The Power of Not Giving UpMost of us, we all go through periods of vulnerability, periods where we are filled with negativity and pressure. If none of your surroundings comprehend you, I am here rooting for you. The path to a better self is never going to be an easy route, we go through failure, periods of low energy, periods of depression. But... so what? Life still goes on. No one will be there patting on your shoulder carrying you up. You got to stand up strong alone, and continue paddling. Fail once, do it again. Fail twice, do it again. Fail thrice, do it again. UNTIL you succeed. The toughest and strongest human being are those who refuse to give up, who truly the process of getting beaten up again and again. The same goes into trading; "90% of Trader blow up 90% of their capital within 90 days" So how do you become a winner in such a competitive place? Is to simply survive. Survive long enough so you get to build a stream of trading lessons from your mistakes. You then constantly review your mistakes and fix them like a specialist. The longer you stay in the market, the higher the chance you are going to become the top 10%.
KRAKEN:BTCUSDEducation
by TraderNeoh
3
Interesting way to Self-Review (and add fixes to your routine)Hey everyone, my last educational post unexpectedly blew up . I have way more things that I'd like to share related to trading, but to keep this endeavor relatable I will try to only do so when I personally (at a moment in time) will utilize one (or more) things from the post. In this manner the post about taking breaks was relevant because I had just come back home after a holiday. Today happens to be one of those days. I like to think of trading as not merely an activity, but as a perfect blend of sport, science, and art. In this material we will be discussing the science of it. In its core science is objective observation, data collection, analysis, and further conclusions. Sometimes more data is needed, sometimes a completely different from expected outcome emerges, and so forth. The science of data collection in trading comes with our journal - the more relevant data we collect when we log our trades the more conclusions we ideally can make in order to test a new hypothesis, or make a strong decision to stop doing something. One of those things happened to me when I started logging in time of open and time of close of each trade. Over series of 100+ trades I noticed that my profitability drops dramatically after 4-5PM, and in the period between 6-9PM I was getting 85% chance of loss of any trade taken. This led me to cut my trading time at 4PM. My results obviously improved. However, trading is not a done deal as we are humans - our routines may change, various other life circumstances may pop up, and what worked last month may still work this month, but this month you are a slightly different person. This last bit is actually heavily affected by personality trait Orderliness, the more orderly a person is the more they are inclined to not switch things up, and vice versa. Nevertheless, apart from time, pips, profit, strategies, instruments, and so forth, we can also log our feelings. Before trade, during the day, upon entering a trade, after closing it, and so forth. Then, once we have enough data we can correlate results with feelings that we experienced at a time. This bit is more difficult than others because it's subjective, and thus requires a greater deal of awareness and interoception. But upon practicing it - it becomes much easier to pick up on. This week after coming back from holiday I started trading as usual. However, for some reason it was difficult for me to wake up at 5:40am to get ready to start trading at 6am. I would oversleep till around 6.30am these past 4 days. Upon waking on Monday, Tuesday, and Wednesday I'd notice that no moves happened during that time, which led to sense of relief. But there was also a tingling sense of guilt as from experience I knew that profitable trades often happen in the period between 6-7am for me. So by chance of luck none were missed during these days, but the act itself wasn't top-performance as it was only a matter of time before experiencing a missing trade. That is exactly what happens yesterday. The oversleeping ultimately caused a miss of +1.5 of profit, which would still give me a losing day, but much less than what happened yesterday. The feeling of guilt building up during first three days of the week culminated in that, which made it even worse. The rest of other trades were taken well with discipline, and managed well too, but the point is the quite heavy toll that was experienced by me for no apparent reason. Now, getting all of that data, I am immediately implementing a fix by moving (temporarily) my trading time 1 hour. So, instead of feeling guilty or inadequate for missing a good trade, I will now simply get enough sleep in without sacrificing emotional integrity. Trades outside my purple box do not exist as they all fall outside of my trading times. Yes, I will be missing these 6-7am moves. But I won't be holding unnecessary baggage instead, which would help me to capitalize much better on other trades. And maybe there will be other trades happening at 4-5pm instead. (As losing trades mostly occurred after 6pm for me, and who knows whether it was due to decision fatigue or lack of edge during that time? For that I'd need more testing). The key is removing all the baggage that we bring to the market, and that is precisely what light work is. Lightwork_
Education
by Lightwork_
1
Is mindset holding you back 🤔Trading can be a rollercoaster of emotions. Many traders are unaware of when their state of mind leads to underperforming trades and why it happens. We are all different and unique when it comes to trading, and understanding the type of trader you are is essential to your success. Traders can spend a lot of time studying technical indicators and strategies, but understanding the psychology driving your trading decisions is just as important. The first starting point of getting on the right path in regards to trading psychology and emotions is by having the right one of two mindset choices. There's two mindsets which will effect your trading results and progress massively. They are 'Growth mindset' and 'Fixed mindset' Of those two mindsets there is only a place for one when it comes to trading and that is 'GROWTH MINDSET' The graphic on chart shows the difference between the two mindsets. If you can't ditch the 'Fixed mindset ' you will never be able to progress in trading. No matter how great of a trader you think you are, or how well you think you handle your emotions. It's impossible to remove them from the equation completely when trading. When emotions are combined with a 'Fixed mindset' mentality however you are going to feel emotional pain and loss of money when it comes to your trading. Once you have learned to recognise your mindset, you can then begin the next important step of switching to the ' Growth mindset ' People with a ' Fixed mindset ' believe they are born with a certain amount of intelligence and that it is fixed for the rest of their lives. People with a 'Growth mindset ' however know that intelligence is not fixed and that you can in effect grow your brain. They see their traits as just a starting point and know that these can be developed by hard work, effort, dedication and challenge. Having a growth mindset can improve your progress and attainment and this is crucial in being successful as a trader. The brain can be developed like a muscle, changing and growing stronger the more it is used. Your abilities are also very much like muscles they need training in order to perform at their peak. You can learn how to do anything you want to do and you can get better at whatever that is with time and consistent practice. Even if you have what you perceive to be a talent or ability for something, if you never practice that talent or ability you simply will never improve. Applying this theory to your trading game will help you grow not just your accounts but as a person also. Get that 'Growth mindset' and start believing in your ability to change. Thanks for looking. Darren 🙌
Education
by pow_removetheguesswork
3
Trading Hours and Market ClockTime Zone: UTC + 4:30 01. Wellington NZX: 02:30 am - 09:15 am 02. Sydney ASX: 04:30 am - 10:30 am 03. Tokyo JPX: 04:30 am - 10:30 am 04. Singapore SGX: 05:30 am - 01:30 pm 05. Hong Kong HKEx: 06:00 am - 12:30 pm 06. Shanghai SSE: 06:00 am - 11:30 am 07. Mumbai NSE: 08:15 am - 02:30 pm 08. Dubai DFM: 10:30 am - 03:15 pm 09. London LSE: 11:30 am - 08:00 pm 10. Zurich SIX: 11:30 am - 08:00 pm 11. Frankfurt FWB: 11:30 am - 08:00 pm 12. New York NYSE NASDAQ: 06:00 pm - 12:30 am 13. Toronto TSX: 06:00 pm - 12:30 am
BINANCE:ETHUSD.PEducation
by yaser_rahmati
How to deal with stress in crypto trading?How to deal with stress in crypto trading? How stress can manifest itself in trading? Losses. Losses come from ignorance or inexperience. In general, they will always be, this is part of our work. But their number can be reduced. Accordingly, no matter how paradoxical it may sound,you don't need to fight with your stress, it must be experienced and get out of this situation with dignity. Not only that, stress can be a catalyst for more productive activities. First, identify the source of your stress. If it's a family affair, then spend less time trading and more family time. If you are overcome by stops, then you should move away from practice to theory and devote more time to backtesting and analyzing trades. If you are stressed by ignorance, it is accordingly better to repeat the material covered. If you do not have time to do anything, write down all your actions during the day during the week. And write down what you can get rid of to free up these necessary minutes. You need to constantly work on yourself. Analyzing errors and drawing conclusions. This applies not only to trading, but in general to all aspects of your life. How to deal with failures? First of all, do not believe all crypto bloggers who post only successful transactions. 90% of them have been in losses for a long time and never show their unsuccessful liquidations. And if you look at their leverages with which they enter into trades, it is not hard to understand that these are not traders, but gamblers. Don't compare yourself to others, everyone has good days and bad days. It is important to understand that trading is working with probabilities. No one knows how your area of ​​interest will work, no one knows where the chart will go tomorrow, no one even has a clue how much the asset will cost in a year. There are only probabilities of working out certain tools. So you need to change your attitude towards failure. This deal didn't go through? It's not scary, the next one will come in, or not the next one, but the tenth one. Doesn't matter. If you analyze your failures, and circumstances beyond your control are often to blame for the losses, then you should not worry. Because maybe the next deal will be the one you've been waiting for. If you got a stop just because Elon Musk tweeted something there, that's one thing. If the stop was received because the trend was not correctly identified, this is completely different. Failure is like stress, you don't have to deal with it. You will lose. You just need to draw conclusions. Perhaps the following will help some of you: try to change the initial attitude towards your deposit. It's your tool, nothing more. I would also like to add: Do not trade $ - trade%. Your deposit is 100% and only, no matter how much it is in $, it is important only by how much% it increases monthly. If you get used to this simple rule initially, further improvement in your life and finances will not be long in coming. How to take a break from trading? Rest is important no less than anything else, how you spend it, you decide for yourself. I would like to tell you when to take a break for a while. 1) Several stops in a row. Sure it depends on your trading style. For example, you lose 3% within a day, then you should turn of you laptop and dont check charts today. Do not try to recoup losses! Its a gambling. Have you reached a breaking point? Turned off, spent time with family, go to the gym, just relax. Understand that the market is not going anywhere, it will be tomorrow, after tomorrow and even after 5 years, the market will always be there as long as humanity is alive. 2) Profitable trades. It is also worth always taking a break, either after a big profit trade or after a series of successful trades. Why? Because you are filled with euphoria, and you start thinking you are a superhero, super guru, and its can play in one big loses when you start play with bigger deposits without stops. Everything is going well? Well, that's great, take the money you earn, spend it on yourself, make a gift for yourself or your loved ones. You just need to do it, you must feel what you earn. While the money is on the exchange, it is 100%, as soon as you withdraw funds from the exchange, it is already $. You can't earn all the money in the world. Yes, and it doesn't make any sense. Trading can give you the most important thing - freedom. Freedom in finances, freedom not to depend on the place of work, freedom to manage your own time. BUT! Only when you can accept this freedom. If you sit at the computer for days, always trying to increase your deposit with thoughts: “I’ll have $ 100,000 then I’ll have a rest”, deny yourself pleasures: “I’d better buy a coin with this money and it will grow”, etc. In this case, you yourself deprive yourself of freedom and become a prisoner of this squirrel wheel. In the end, you will simply stop enjoying trading. Our brain already remembers more negative than positive, that's how we are arranged. And if you live only on the exchange, you will inevitably remember only the negative from trading - your losses. Come to harmony between work and rest, then you will feel the pleasure of the process. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
1
How to choose the best style of trading?First one style - Scalping Scalping between 1 second to 3-10 min is literally “scalping” every price movement. We opened a deal, get a profit and closed trade. Its a risky and nervous way of trading. Meanwhile, scalping remains potentially the most profitable type of trading. Hardcore scalpers love to fight the market, Their strategy consists in a large number of small trades. The main goal is to close with a positive result. Scalping is interesting for new traders because + quickly gain experience; intensively study the mechanics of the market and graphic patterns; train the psychology of a trader. you do not need a large initial deposit, for scalping multiple turnover of working capital gives the potential to increase the deposit; many trading signals during the day, even on the same trading pair - Sitting in front of monitors for hours, focusing on the course of trading in order to catch that very good moment to enter a deal is not an easy A lot of stress. If you trade with leverages to pump your deposit you can lose all deposit if you trade without stop loss Day trading or intraday 1 hour - 1 day Its simple - After trading day, all transactions should be closed. No matter what happen on a market, cuz crypto trade 24 hours you open position at 7 and closed all positions by end of your trading day. + • Less risk and emotional stress, trading several hours a day; • Greater leverage or margin; • You can not bother much with fundamental analysis; • Don't worry about bad news that comes out between trades. It is recommended for all beginners to start in day trading. You need to learn to control emotions, learn to see market movements, changes in the trend, the mood of the players, correctly place orders and limits. Swing trading (aka medium-term, from 1 week to a month). You can hold your position for a days,weeks, months; Ideally, while the trend continues. Anyone with ideas and investment capital can try swing trading. Because of the longer time frame (1 hour, 4 hours, 1 day), the swing trader doesn't need to be at their monitor all day. Holding an open position for days or weeks can result in higher returns than trading the same security multiple times a day. Less stress There is time for doing other things, keeping the nerves and energy in a healthy state. Swing trading can be done through a simple computer or smartphone. - But Because swing traders hold their positions longer than intraday traders, they also run the risk of higher losses. Especially the risk of losses increases by holding the position every other day. Swing traders rarely enter at the best prices. Checking the chart 1-2 times a day, they are content with what the market will offer at the time of opening a position. Increased waiting time for a signal to enter a position, you can wait for the setup day after day. Medium term trading. This method is for those traders who catch long swings. "Medium-term" holds positions for many weeks and months. Medium-term traders hold positions from several months to several years. + Less stress, Lots of free time. For example someone can trade during all week, but medium trader can buy Bitcoin now for example at 20k and sell it at 50K after few month. Its more about fundamental analysis; Holding a position for several months is not suitable for traders who are used to being active. Long term investment. This type of trading on the principle of "buy and hold" BENEFITS OF LONG-TERM INVESTING Less stress: no need to constantly monitor the market. Time Savings: Less hassle: You don't have to learn different trading strategies or platforms as you won't be an active intraday trader. Long-term trading, as the name suggests, requires you to have free capital. And it should be free for many years to come. You must be prepared that a certain part of your capital will be locked and you cannot use it to benefit from short-term speculation. Deep knowledge. Long term trading requires an advanced understanding of the assets you are investing in. You cannot simply make decisions based on certain news, tips, or rumors. It is also not enough to rely only on charts or indicator signals to buy or sell. You need to be a specialist in fundamental analysis. - Age limits. You must have a life horizon in order to reap the benefits of the investment. If you are 60 years old, then it is too late to start a career as an investor for obvious reasons. Guys thank you for reading. Write in a comments what style crypto trading do you use mostly? And why. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
This mistakes can rip your depositEveryone goes through the path of their own mistakes, gaining experience. But maybe this video can help you avoid some mistakes in the future, if you have just entered the cryptocurrency market. The first mistake, and perhaps the most important, is not to analyze your actions. It doesn't matter if it's trading, futures trading, participation in an IDO or simple investments. When you make some action on the market with your deposit, and then lose or earn money, always analyze what you did right and where you made a mistake. You entered a trade without a stop loss and lost part of the deposit, you did not analyze the period of coin unlocks and bought at the wrong time, or bought on greed already at too high a price. You must understand that there is no more money in the market, it just flows from one hand to another. If today you have earned, then someone has lost. So, do not ignore your actions, keep a trading diary, tracking your portfolio for investment. Analyze why you are buying this coin, what you intend to receive and when to exit the project, options for exiting the project if everything does not go according to plan, where you will transfer your money if you exit the coin. What tools will you use while trading, what indicators and why. Also write down your psychological and emotional state at one time or another, this will help you invest money more rationally in the future. The second mistake is that you are simply trying to copy someone else's trading or investment strategy. Perhaps somewhere you saw someone's advice that should bring you millions, and you began to blindly repeat the same actions, but no one gives you guarantees in cryptocurrency. What worked in 2017 may not work in 2023 , you have to understand that. You must work out for yourself two investment strategies and a trading strategy. Conducting analysis and working on their improvement just for yourself. Because if one strategy becomes available to everyone, the market maker will do everything to ensure that this strategy stops working. That is why classical tech analysis practically does not work in the cryptocurrency market. Do not try to shift the responsibility for your income or losses to someone else. Your money is your decision. The third mistake Do not invest the entire deposit in one coin. Diversification. If you invested in 100 projects and 80 of them failed, then you will still end up with money. But if you invest in one project that fizzles you will lose all the money. I think the recent terra luna example is a great example. I’m afraid to upset you, but everything is possible in cryptocurrency, so even coins such as ether, cardano, polkadot, bitcoin are also not immune from falls. The fourth mistake is to sit 100% only in cryptocurrency. Even if it is a stable coin. The recent example with ust also perfectly describes this error. Nobody knows what might happen to usdt or stablecoins in general in the future. Therefore, withdraw part of the funds always into real fiat money in the real world. Buy something for yourself, your money should bring you emotions and you should see the physical result, and not just the numbers on your wallet. Don't wait until you reach a certain amount. Perhaps at the peak you can lose everything. You can’t fall in love with projects, those projects that were in the top 10 in 2017 are not in the top 100 now. Think about it. The cryptocurrency market is changing and new projects will appear every year. Earn money, not just the number of coins. Don't be afraid to take profits, you will never hit the bottom and you will never hit the top of the market. Fix gradually, and buy coins step by step. Creating your average check. Remember, many projects are launched to earn money by their creators. No one is interested in what ordinary investors would earn. Don't be greedy and always take profits. I had an example with ShibaInu. I bought this coin even before the listing on binance, and during the listing, I did not sell the coin without taking a profit of 200k. That's when the market crashed. I fixed part of the profit, and also part of the profit on its subsequent growth. But if I hadn’t been greedy, but fixed it and bought it back, but already cheaper, I could again earn another 200 thousand in November at the new peak of the market. In the end, I did not do this, because I succumbed to the information field that this project would grow. As a result, Shiba Inu lost capitalization from 42 billion to 14 billion. That is, someone fixed a profit and next time they will invest this money in a new project. Don't fall in love with projects Share with your friends who are just starting their journey in the cryptocurrency world. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
Education
by Crypto4light
Motivation Is Not A Superpower - The Power of Not Giving UpI think most people overweight the word "motivation" Motivation only gives you the sudden thrust to initiate, continue or terminate a certain behaviour at a given time, it is not lasting. Without a good attitude, mental and physical toughness, effort, passion, and focus, motivation is nothing but a booster. You do not need motivation to succeed as it only gets you started. The power of not giving up is what determine our achievement. The same goes into trading, I've coached/ talked to more than 30 Traders in the past, most of them have extreme level of interest in the beginning. But as time goes by, I saw almost every of them walk away from this business, not because they do not know trading will probably bring them financial freedom, but because their fear of failure has overweighted their motivation to succeed. Probably because they have blown up multiple accounts, instead of digging into the root of cause and finding solutions, they give up after several failure. Trading is just like any business, it requires time, energy, effort, tear, money, ongoing passion, high level of discipline and consistency to outperform the 90 - 95% of losing Traders. The more you are able to become a problem-solvers, the higher the chance you may succeed. What I always suggest to inconsistent Traders, is to become a specialist. Specialize in certain markets, certain timeframe, certain currency pairs, don't try to have your eyes all over the place. If you're constantly shifting your focus, you will never get anything done. You only need to master in one specific asset/ pair to become consistently profitable. Think about it and let me know your thoughts in the comments below.
OANDA:XAUUSDEducation
by TraderNeoh
1
Quantum cryptography and Post-Quantum cryptographyHello guys today i want to explain Quantum cryptography and Post-quantum cryptography and how they can affect blockchain security and whats the solution. lets start with a brief explanation of cryptography: Cryptography is the process of encrypting data, or converting plain text into scrambled text so that only someone who has the right “key” can read it. NOW what is quantum cryptography? Quantum cryptography simply uses the principles of quantum mechanics to encrypt data and transmit it in a way that cannot be hacked. and what is Post-Quantum cryptography? Post-quantum cryptography refers to cryptographic algorithms (usually public-key algorithms) that are thought to be secure against an attack by a quantum computer. These complex mathematical equations take traditional computers months or even years to break. However, quantum computers running Shor’s algorithm will be able to break math-based systems in moments. How Quantum Cryptography Works? Quantum cryptography, or quantum key distribution (QKD), uses a series of photons (light particles) to transmit data from one location to another over a fiber optic cable. By comparing measurements of the properties of a fraction of these photons, the two endpoints can determine what the key is and if it is safe to use. The sender transmits photons through a filter (or polarizer) which randomly gives them one of four possible polarizations and bit designations: Vertical (One bit), Horizontal (Zero bit), 45 degree right (One bit), or 45 degree left (Zero bit). The photons travel to a receiver, which uses two beam splitters (horizontal/vertical and diagonal) to “read” the polarization of each photon. The receiver does not know which beam splitter to use for each photon and has to guess which one to use. Once the stream of photons has been sent, the receiver tells the sender which beam splitter was used for each of the photons in the sequence they were sent, and the sender compares that information with the sequence of polarizers used to send the key. The photons that were read using the wrong beam splitter are discarded, and the resulting sequence of bits becomes the key. If the photon is read or copied in any way by an eavesdropper, the photon’s state will change. The change will be detected by the endpoints. In other words, this means you cannot read the photon and forward it on or make a copy of it without being detected. The Solution We Need Now for Tomorrow! The need for unbreakable encryption is staring us in the face. With the development of quantum computers looming on the horizon, the integrity of encrypted data is at risk now. Fortunately, quantum cryptography, through QKD, offers the solution we need to safeguard our information well into the future – all based on the complex principles of quantum mechanics. In January 2022 a team at Sussex University spin-out company Universal Quantum published research on transit attacks which calculated that it would require a quantum computer with a 1.9 billion qubit-capacity to break Bitcoin’s encryption in the required ten-minute window (this is the time taken for a Bitcoin to be mined). Even at 317 million qubits it would take an hour and 13 million qubits for a day. For context, IBM’s superconducting quantum computer currently has a 127-qubit processor. REFRENCES: www.investmentmonitor.ai www.quantumxc.com www.techtarget.com Hope you enjoy this article. please share me your opinion about Quantum computing in comments. can they break BITCOIN???!!!
Education
by TraderAmin-KZ
6
Why is a workplace important in trading?Why is a workplace important in trading? Trading is such a small life that you live every day by opening a chart and an exchange. And above all, you must live this life with dignity. And in order not to break down, not to burn out, to save your nerve cells, it is important to devote time, first of all, to psychology. Your workspace It is important that you feel comfortable working. Nothing should cause you negative emotions, remove all irritants: wipe the dust, remove all unnecessary, leaving only those things that you use daily. You should sit down at the workplace and get maximum satisfaction, everything should be as comfortable. You need to achieve maximum comfort, pay attention to what you are sitting on. Chair or office chair, choose it according to your height, back position, soft or hard, leather or velor. Customize the location of the monitor, mouse, keyboard or laptop in general. Use the speakers you need to play your favorite music in the background. Why is it so important? Because even the slightest irritants can affect your work on the crypto exchange. For example, you got a loss, at the same moment the cup with your cold coffee fell and now after 30 seconds - you are furious at everything around, and next time you start open random positions and get more and more loses. How to build a workflow? After you have prepared the workplace, you need to prepare the work itself. First, decide on the time. You need to draw up a trading schedule. You should not sit 24/7, tremble over the charts and follow every candle, except for overtrading. Yes, it will be difficult to choose the time for yourself right away. Highly recommend you to watch my video about trading styles. Create best workflow on exchange or trading view! Add favorite tool which you use all the time. Time charts, crypto lists colors, background, and all this small things. Ill make another video with trading view setups. But who knows you better than yourself? That's right, nobody. Therefore, think about how you will be more comfortable. Next, we need to determine in ourselves those things that can interfere with trade. For example: you are very sensitive to money, every penny counts. You may need to work on your relationship with money. Maybe we should not overestimate their importance. After all, this can be detrimental to emotional health in the future. Or you are an extremely gambling person, like disputes, get adrenaline from the process itself. In this case, you should think about how you will deal with excitement while trading. After all, I already told you that trading is a small life. The crypto exchange is not a place of fulfillment of desires. This is the battlefield. And in conclusion, I want to add to the preparation: Pay attention to the chart, set the colors and tools that are convenient for you in the trading view and on the exchange itself. Get a notepad. Write everything down the first time. All observations, all transactions, all emotions, all flaws. Write absolutely everything there, every day. Write yourself a checklist, add to it everything that prevents you from working and hang it in front of the monitor. Every morning, before you sit down for a chart, see if the conditions are right. For example: excellent mood, no headache or other pain, slept well, concentrated. All urgent matters are done so that nothing distracts you, etc. And most importantly, be self-disciplined. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅ Look at my ideas about interesting altcoins in the related section down below ↓ ✅For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
1