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3Cs of trading - Must readI call it the 3 Cs of trading Trading the financial markets can be a challenging and rewarding endeavor. One of the keys to success in trading is making informed... Choices - Choose the markets you want to trade, the strategy, the time frame, choose your mentor and choose your times and plans... Next you need to take calculated: Chances - Take a chance to execute, to deposit money in your account, to set up your trades and lineups. And then be willing to adapt and make. Changes - Changes to your strategy, journal, system and whatever you need to evolve with the current market conditions and environments. Did you find this helpful? I'd love to hear your feedback Trade well, live free. Timon MATI Trader
JSE:J200Education
by Timonrosso
Success is a self-introspection journey!You and I both know that financial trading the markets is an exciting and most definitely a lucrative venture for those who actually take the time and energy to get it right and trade well. But! Big But... If you want to become a successful trader, it's not just about analyzing market trends and making informed decisions – it is also about self-introspection and personal growth. This journey is one big self-discovery. And you'll find it's not only beneficial to trading but with life, love, work and even your true identity. Aas traders must know our own motivations, behaviors, and beliefs in order to truly excel. This means taking an honest look at our strengths and weaknesses, and being willing to make the necessary changes to become a more disciplined and effective trader. Do this and you WILL develop a strong sense of self-awareness in order to make better decisions under pressure. Trade well, live free. I'm off to bed. Timon MATI Trader (Financial trader since 2003)
JSE:J200Education
by Timonrosso
1
6 Thinking Hats for a TraderIf you don’t know the 6 Thinking Hats by now, I have to ask. How do you solve problems, deal with arguments or make decisions? I do forgive you though, as these strategies are not ones we learn in school. In fact, when I first read about this strategy, I got to say every aspect of my life changed (including trading). I hope this article will change your life too. Let’s start with the main man himself. The Author of The Six Thinking Hats Edward de Bono is a world-renown lateral thinker, writer and philosopher. In fact, he was the first person to use the term ‘Lateral Thinking’. Born in 1933, in Malta, Edward has achieved a number of degrees and has published over 85 books (mostly on thinking and the use of language). But out of all his works of art, there is one of the most popular techniques that changed the world and changed the way we think. It’s called The Six Thinking Hats or 6TH. Here’s how it works There are six different imaginary hats, with each having a different colour. Each time you put on a hat, you change the way you think about something. It also helps you see with better clarity and with a different perspective. Whether you’re having an argument, making a decision, solving a problem, building a business or creating a trading strategy – the 6 Thinking Hats will help streamline the process. If you’re with more people, make sure everyone is wearing the same hat at a time, to avoid conflict. Let’s now get into the inner workings of the 6 Thinking Hats, and how it can apply to your trading and other aspects in life. HAT #1: WHITE NEUTRAL VIEW This is the hat that contains all of the information, facts, data, figures, metrics and statistics. When it comes to trading there are certain facts that you need to have considered including: The broker you choose The affordability The costs involved What equipment you have to trade Back testing, forward testing and real testing data and statistics with your strategy. HAT #2: RED EMOTIONAL VIEW The second hat you’ll put on is the RED HAT. When you put this hat on, come to terms with what you feel. I’m talking about your intuition, your fear, your greed and your gut feeling. Then when it comes to trading ask yourself these questions… · Can you handle risking money you have? · Do you feel you have the discipline to pursue trading on a weekly basis? · Do you enjoy the idea of trading? · How much money do you think you can easily deposit into your trading account? · How much money do you think you can psychologically handle losing, if you take 10 losing trades in a row? · Do you think you can sleep easily at night knowing you have your money tied up in the markets? Once you go through all the feelings and you answer the questions, then you can move to the third hat. HAT #3: YELLOW POSITIVE VIEW This is the hat you’ll find is the one, you want to leave on when you think. It’s the hat that contains all the benefits and rewards. When you put this hat, you’ll think of the following with trading: What are the benefits to trade? How much money do you want to make a year trading? Why will your trading strategy work? What are your goals as a trader? Why is trading the best decision for your financial future? Feeling good? Well you’re supposed to when you put on the yellow hat. But we still have three more hats to go… HAT #4: GREEN CREATIVE VIEW With every decision comes extra out of the box thinking. And that’s where the green hat comes in. When you put on the green hat, this is where your imagination should help you with brainstorming, new ideas and add-ons to the think tank process. With trading, there are just so many different ways to be creative. And you’ll find that with ever evolving markets, you’ll need to adapt and adjust course. Here are some ideas to think of when you put on the green hat. How can I let my winners run further systematically? How can I increase my win/rate i.e. Trailing stop loss What indicator can I use for peripheral vision to help with my confirmation on each trade? I should create and print a few psychology sticky notes to help with my trading. I should name my system to be more personal with it I should find ways to tweak my system which will help with the performance I should have a trading consultation with Timon to help build and optimise my trading strategy better J. HAT #5: BLUE HAT PROCESS VIEW When you put on the blue hat you should think of three main things… Systems, criteria and planning. This is where you’ll choose the criteria you’ll follow with your trading strategy. What indicators are you using? What parameter’s are you using with the indicators? What time frame works best? What calculators do you need whenever you trade? This is where you’ll find the main work takes place once all the planning is done… And one where you’ll eventually marry a strategy to help grow your portfolio. HAT #6: BLACK HAT NEGATIVE VIEW When you put on the black hat, four things should arise instantly. Difficulties, problems, weaknesses and risks… I saved this hat for last, because it’s the only hat that will most likely help you decide whether trading is for you or not. But you can re-arrange the hats according to your won preference. The main things to ask when you put on the black hat, with trading is: What are the dangers of trading, risks, financial risks and time risks? What if the system stops working? Why are you sceptical about trading? What if the current markets go into an unfavourable territory? What if the market drops to zero when I’m in a long trade? FINAL WORDS: How awesome! You now have The Six Thinking Hats to your every decision making process. You’ll find that it will force you out of the mono-lateral way of thinking which you’ve habitually had your entire life. You’ll see things with new perspectives and compartmentalize issues in new ways… It might even pro-long your marriage or improve your relationships… If you enjoyed this article, I would love to hear your thoughts Trade well, live free. Timon MATI TRader (Established 2003)
JSE:J200Education
by Timonrosso
LEAVE ME ALONE! LEAVE ME ALONE! Once you have entered a trade and set your trade levels (such as stop-loss and take-profit), LEAVE IT ALONE. It is important to let the market play out and not interfere with the trade. This way you'll follow your trading plan and not be swayed by emotions or external factors. Also, if you leave it alone it will also stop you from taking impulsive decisions in the future, which can be super dangerous in the long term. Once you've done your bit and left the trade to do its thing, once it hits your stop loss or take profit - you'll be able to track, record, evaluate and monitor your trading results. This cuts out the subjective feelings, emotions and opinions. It's the play of patience that will help you to learn how to trade well for your financial future.
JSE:J200Education
by Timonrosso
1
ICICIGI - ACCUMULATION OR DISTRIBUTION?NSE:ICICIGI ICICIGI formed a good trading range. its been consolidating for 25 days now with a total volume of 10.5 Million shares. Big players are getting it ready for a big move as they are slowly building positions in the stock. I will watch for a breakout to the one side with above-average volume. #Breakout levels are marked on chart Use position sizing according to your stop loss level. Like this idea if you find it helpful and please share it with your friends. Keep learning, Happy trading. Thank you.
NSE:ICICIGI
by SANJAYPATIDAR_
How to achieve any goal in 2023?First you need to clearly define your goal, for this we use this simple tips Technique that helps you better define and achieve goals. Goals formulated using this technique are usually more realistic and achievable. S - Specific (specific) The goal should be well defined and specific. M - Measurable It should be possible to determine if the goal has been achieved. A - Attainable The goal should be realistic and achievable, despite the possible difficulties. R - Relevant (actual) The goal should be related to your actions and goals. T - Time-bound (limited in time) The goal must have a specific deadline. Goal setting example: - Specifically: Increase the average monthly profit - Not specifically: Earn more – Measurable: Increase monthly profit by 10% - Immeasurable: Increase profits – Achievable: Increase monthly profit by 10% - Unattainable: Increase profits by 300% — Actual: Increase the average monthly profit by 10% from trading - Not relevant: Increase the average monthly profit by 10% (in some other business) - Limited: Increase your average monthly profit by 10% in 3 months. Result: Increase the average monthly profit from trading by 10% in 3 months. Once we have set a goal, now we need to sketch out a rough list of how we can do this. 1. Determine the current level of trading skills through a self-assessment and determine the necessary improvements. 2. Study various trading strategies and choose the one that suits you best. 3. Create a realistic trading plan by defining goals and risks for each trading day. 4. Open a demo account and start trading strictly following the created trading plan. 5. Gradually increase the amount of trading sessions and risks, observing the principles of rational risk management. 6. Open a real trading account after successful completion of trading on a demo account. 7. Continue to trade, strictly following the created trading plan and the principles of rational risk management. 8. Study, read books, take courses, constantly improve your skills 9. Regularly analyze your trades to improve your trading strategy and increase efficiency. Once the list is ready, now you need to break it and your goal into smaller goals and set them every week. For example: Goal for the week, read 1 book, master 1 new strategy, make 10 trades on a demo account. Finally, you need to break each of these goals into daily goals. Set them for a day and just like a robot go to fulfill them without hesitation. For example: Goal for Monday, read 20 pages of a book, watch 1 webinar, make 2 trades on the strategy. And finally, every week you track and adjust your progress as needed. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
BITSTAMP:BTCUSDEducation
by Crypto4light
Every trader life cycleThe Trader's Cycle The trader's cycle is the time span between the first replenishment of the deposit and its total loss. The cycle is divided into four parts, each of which corresponds to a different condition of the trader. Every trader is in one of the stages of the trader's cycle; it is impossible to avoid the cycle by trading continuously. However, by splitting into a "cycle," you may lengthen the stages and reduce your losses. The "trader's cycle" phases: "Stability" is the initial step. The trader is in a condition of equilibrium, regulates his emotions, initiates trades only on his system entry points, does not engage in high-frequency trading, employs stop losses, monitors risk management, treats losses properly, and lives his life throughout the first phase. The second stage is known as "sudden impact." In the second phase, an incident occurs in the life of a trader that throws him off balance psychologically. A stunning incident for a trader is a large loss that wipes out the results of his efforts for an extended period of time. In general, the major causes of "shock" include neglecting risk management and not employing stop losses, as well as a series of transactions closed by stop losses in system trading in accordance with all of the trader's trading system regulations. A unexpected blow can also be caused by technical errors: a forgotten or failed order, technical issues with a broker or equipment at the worst possible time. The core of the second phase is that the trader experiences psychological trauma, which causes him to lose his psychological equilibrium and engage in illogical behavior. The third stage is referred to as "risk rise." In the third phase, the trader awakens with a desire to recover his losses, which causes him to raise the volume of positions, increase leverage, refuse to apply stop losses, depart from risk management, and average positions, which leads to irreversible repercussions. The trader deviates from another critical approach - consistent profit taking. He stops taking profits from the market, constantly desiring more, as a result of which he misses profits and awakens within himself the infamous feeling of missed profit - FOMO (The fear of missing out), which in turn feeds the trader's psychological trauma and causes him to behave aggressively in the market. The trader has a "perception filter": he begins to automatically reject any market information and signals that contradict his established abnormally high confidence in the market's future direction. The fourth stage is "collapse." The trader's position is liquidated when the market moves against him, and he is left with no money. On the one hand, the trader has lost everything; on the other hand, he feels some relief and begins to behave objectively, abandoning wishful thinking. After putting himself in order and returning to normal life, the trader begins to evaluate blunders. After dealing with the mistakes, the trader pledges himself not to repeat them and not to break from his trading strategy, but vows are broken over time, and the cycle continues. Repetition of the cycle After the "first round," most rookie traders abandon trading permanently, blaming the market and condemned "manipulators" for everything. Another, smaller group of traders has the courage to accept their mistakes and return to trading at a higher level. After a period, the cycle repeats for most merchants, and they are once again separated into two groups, with the majority of them leaving the market for good. How can you break the cycle? Every trader should embrace and realize the fact that the trader's cycle is inevitable, therefore, he should take efforts in advance to assist "soften the fall". Here are some practical suggestions. Rest and recuperation Every year, the work of a trader becomes more difficult: new patterns emerge, more and more variables must be considered, which increases the emotional load many times over, so rest and recovery are critical: the right approach to leisure time will help to avoid emotional burnout and will "reboot" you, completely clearing from thoughts, allowing you to return to your favorite work with renewed vigor. Take regular breaks from trading, vacations, and living life, because the aim of your trade is to increase the quality of your life. Does your life improve if you make a lot of money but are miserable? Look for new interests and experiment with new things. Recommendations for healing include bathing, swimming in a pool, massage, meditation, winter swimming, spending time in nature, and traveling. Lifestyle Your lifestyle, whether you like it or not, will be reflected in your trading, so don't get too caught up in trading - satisfy yourself and your loved ones by spending gains and developing yourself. Eat, travel, and live life to the fullest. This will undoubtedly boost your attitude and, as a result, the outcome. Sport influences your physical health, which in turn affects your mental health, and mental health allows you to be more productive and balanced for longer periods of time. Also, keep your mental surroundings in mind and limit your time spent on devices and news sources. Pay attention to your health, thoughts, nutrition, lifestyle, sleep, and connections with loved ones. Trading strategy The attitude to trading is the foundation that may both save you from the "trader's cycle" and push you into it. Here are a few highlights: 1. Risk assessment. Maintain strict risk management and never, ever overstate dangers. Diversify your cash in several areas to ensure that you cannot gamble too much on one trade. Divide your trading deposit, for example, into four pieces and transfer cash to separate exchanges and wallets. This strategy will have a significant psychological influence on you, so that if you lose, you will only lose a portion of the cash. Even if you let go a little when transferring cash from one account to another, your brain will remember why you split and withdrawn the funds, and your emotions will have time to settle. 2. Profit obsession. Fix locations in sections, always leaving a little bit out of the transaction. Using this profit-taking approach, you will skim the juiciest milk from winning transactions and eliminate FOMO, which will benefit your trading. 3. Taking an asset from the watchlist. Remove the asset from your watchlist and cease watching it for a time if you still did not follow the strategy of frequent profit taking and closed the position fully. Why would you do it? Assume that once you've established your successful position, the price rises by another 10-20-30%. How will you react? Most likely, you will have FOMO (fear of missing out), return to the transaction, and the price will then reverse. To avoid this, either fix positions in parts depending on the balance of the position rather than the beginning volume, or do not open the chart after closing the trade. 4. A sequence of stop losses Leave trading for a day if you close two transactions in a row on stop losses, since failing trades produce unpleasant emotions, which lead to bad judgments, and bad decisions lead to a desire to recover. It is critical to learn to track your mental condition and step away from the terminal as soon as possible. Workspace The workplace should be a quiet and pleasant setting where you can concentrate and nothing will distract you from your task. The trading system Your trading system is critical to your success. You must design it based on your trading strategy and risk tolerance. The trading system should comprise the following components: Risk administration. A collection of entrance points. A collection of indicators. Self-control techniques. Profit safeguard approach. Transferring positions to breakeven is a strategy. Various trading methods and tools are available. Make plans for profit distribution and withdrawal. A set of guidelines "What should I do if...". Trader's journal, where you will keep track of your transactions. Savings and income sources To avoid an urgent need to recoup while incurring a major loss, it is vital to save - develop an airbag for 6-12 months of a pleasant living and do not squander it. Savings will be ineffective even in the best-case scenario, but the advantages of the "airbag" are difficult to overestimate. Such accumulations will improve your psychological state since you will be more confident in the future and will not tear your hair out by launching a "transaction for the sake of a deal" and anticipating a quick payoff. It is also vital to generate "cash flows" (other sources of income) for yourself outside of trading in order to increase your passive profit. Profits and interruptions are reduced to zero. "Crashes to zero" and samsara in the shape of a "trader's cycle" are unavoidable, therefore you must plan for "rainy days" by taking action ahead of time. The finest traders can maintain equilibrium for far longer, but they also have breakdowns. Don't think of yourself as an exception. End collapses, extract winnings, and build passive income streams since the ultimate purpose of your trade is to improve the quality of your life. Keep in mind that the funds in your brokerage account do not belong to you, and anything might happen to the broker. Regular withdrawal of cash ensures a constant and comfortable quality of living, since if you lose control of yourself, you will lose just a portion of the assets, not all of them. Create bulletproof stages that will allow your capital curve to increase indefinitely. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
BITSTAMP:BTCUSDEducation
by Crypto4light
4
5 Habits of Successful TradingGet a pen and paper and write these five habits down. Each habit you have, write down a 1 and each habit you don’t have write a 0. Sum up the points at the end and you’ll know where you are, what you have to do to improve and whether you have the trading edge to be successful. HABIT #1: Courage You need the courage to follow these basic steps. #1: Open a trading account #2: Deposit money in your trading account #3: Adopt a trading strategy #4: Take the trades that line up #5: Follow your strategy (with the winners and losers) Have the courage to do that today or have done it? Mark 1 for YES Mark 0 if you’re not ready… HABIT #2: Persistence I’ve said this before… Trading is a forever business… It’s easy once you get it right. The hard part after a while is keeping persistent. Do you have the PERSISTENCE to: #1: Trade for a few minutes every week? #2: Look for trading setups? #3: Follow a proven trading strategy without changing the rules? #4: Not give up on a trading strategy after a losing streak? #5: Not go against a strategy after during a winning streak? Mark 1 for YES Mark 0 if you’re not ready… HABIT #3: Save Money Look. The more money you have in your trading account, the faster it will grow. If you think R5,000 or R10,000 is all you need to retire in a few years – it’s time to wake up! Every month, I deposit around 5% -10% of my savings into trading… Now I know not everyone can deposit such a large portion of their savings in trading as they have other capital allocations to their portfolio… Well, what ever you can deposit per month comfortably is better than nothing. This will help you to grow your trading account at a faster rate. Mark 1 for YES – I have the habit to save money per month. Mark 0 if you’re not ready… HABIT #4: Evolve The markets are constantly going through change. In just a span of 20 years there have been a multitude of trading instruments. For example: Shares – warrants – Futures – Binary Options – ETFs and CFDs. We’ve also seen a plethora of different markets including Equities – Indices – commodities – currencies and Crypto-currencies And as a trader, it’s our job to keep learning and evolving with the markets… Do you have the habit to adapt to change and learn throughout your trading career? Mark 1 Not ready for change? Mark 0 Habit #5: INDEPENDENCE Once you have everything you need to succeed as a trader, it’s all on you. You should not have anyone to hold your hand, influence your decisions or tell you what to do. When you are sitting by your laptop or device – No one should be able to change your mind including from: • Friends • Family • Mentors • Your conscience • Bloomberg • Spouse and kids If you think you have a good level of independence, mark 1. If you’re not ready for being independent mark 0. Final Thoughts The points where you marked 1 – Great keep at it and remember your strengths… The points where you marked 0 – It’s ok… Every successful trader started with doubts and weaknesses. Trade well, live free. Timon Rossolimos MATI Trader
JSE:J200Education
by Timonrosso
What is FOMO and how to avoid it? What is FOMO? FOMO - Fear of missing out or Lost Profit Syndrome - an obsessive fear of missing out on an investment opportunity. This syndrome can overtake in any everyday situation and make you remember missed chances to get rich all day: ignore the growing popularity of cryptocurrencies, not invest in bitcoin and many other short-sighted actions. To determine the presence of the syndrome of lost profits can be on several grounds: frequent check of the exchange rate of the asset in the portfolio; obsessive fear of missing some important event or news; dependence on a smartphone, discomfort in the absence of a gadget; resentment if someone is luckier or more successful. In trading and investing, the FOMO phenomenon is especially noticeable. Many investors under the influence of the syndrome make spontaneous purchases, make many mistakes and subsequently lose faith in the prospects of the market. But the good news is that even this obsessive-compulsive disorder can be cured with a few tricks ✅ Forget about the past. What once happened in the market is absolutely irrelevant. No successful investor looks at quotes in the past. He only thinks about the future. Chances never end, they always reappear. ✅ Increase your competence. Master new skills, study the experience of professionals, All this will give not only the necessary knowledge, but also confidence in the correctness of your actions. ✅ Set clear goals. You should always keep your strategy in mind and set target values when buying an asset. If the quotes reach your target, you should sell. ✅ If there are no ideas for investing - wait. If there are no assets that fit into your strategy, then the most correct decision would be to save, increasing the cash position. And wait for the right moment. It will definitely come, and you will know about it when the crowd will scream about the next funeral of the stock market. ✅ Your strategy is everything. Develop your own strategy and stick to it, improving on the way! Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
BITSTAMP:BTCUSDEducation
by Crypto4light
3
DON'T TRADE ON HOLIDAYS | 4 Crucial Reasons Explained In this educational article, we will discuss why is it recommendable not to trade during the holidays season. 🏦 The main source of problems comes from the fact that the big market players like banks, hedge funds and investing firms are absent. Similarly to ordinary people, bankers and investors prefer to spend the holidays with their relatives and friends instead of staring at charts on Christmas Eve. But how does it affect the market? Big players are the main source of the market liquidity. The liquidity itself is the measure to which an asset can be quickly bought or sold in the market at a price of its quotes. Therefore, when the big players are missing, the market liquidity drops. 1️⃣ That fact instantly reflects in the market spreads. They become substantially bigger, directly increasing the costs of each trade and making it problematic to open a position at a desired price. 2️⃣ Secondly, low liquidity leads to a decrease in volatility. The market becomes weak and indecisive. As traders, we make the money on market moves. Our goal is to catch a bullish or a bearish wave. Their absence deprives us of profits or, at least, dramatically decreases them. 3️⃣ Thirdly, when the liquidity is low, even small market participants can move the market. It dramatically increases the probabilities of false signals. Relatively low trading volumes may manipulate the market, substantially decreasing the efficiency of technical and fundamental analysis. 4️⃣ The increased costs of trading, low volatility and manipulations should have convinced you to stay from charts during the holidays season. However, the main reason to not trade on holidays is much simpler. Holidays give you an opportunity to stay with your family, to take a break, to recharge and relax. Even a part-time trading is very exhausting and requires a constant attention. Let yourself be distracted and return after holidays. I wish you a great holidays season, traders! ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
17
Sell opportunity on the GBPUSD?The GBPUSD is testing the previous high on the weekly time-frame. Is this enough confirmation to sell the pair? The answer is no. However when we drop down to the 4hr time-frame we can spot the break of structure to the preceding uptrend. Combine this with the rejection off the previous high on the weekly time-frame, it becomes enough confirmations for me to enter in for a sell trade. What is left is to be patient for the market to pull back on the 4hr time-frame to my preferred sell zone and that will be my entry for a swing sell trade to the previous low or the last demand zone.
Short
by StephenAdeniken
GoldViewFX - BENEFITS OF USING SMALL LOTS TO MANAGE RANGESThe temptation of using bigger lot sizes is something all traders experience in some parts of their trading journey. Yes, the wins can be nice, but the losses can be even greater and damaging. The benefits outweigh every time!!! MOVE BIG RANGE We cannot emphasize enough the benefits of breaking down lot sizes to micro lots to learn how to move and manoeuvre the range in a volatile market. Using small lots allow you to do this. MORE FLEXIBILITY The flexibility to add to existing positions or get better entries is only possible when account is not over exposed. Smaller lots give you the flexibility to chop and change and add to positions, allowing you to move big ranges and making changes throughout the move. POWER OVER FEAR Bigger lots exposes our accounts, which makes decision making very hard due to fear of loss and blown accounts. Small lots allow you to control and manage fear throughout the process. STRONG PSYCHOLOGY Having power over your fears is the greatest feeder to a strong psychology for a traders mindset. Strong psychology allows a trader to build consistent performance and profits. LIVE TO FIGHT ANOTHER DAY The ability to get second chances is something everyone can appreciate in life. Smaller lots allow you to make mistakes and try again. Hope some of our new traders find this information useful. Please don't forget to like, comment and follow to support our work. We really appreciate it! GoldView
OANDA:XAUUSD
by Goldviewfx
18
GoldViewFX - TRADING ETHOS & STRESS FREE TRADING Here at GVFX, we constantly remind our followers to take profit off the table by banking in stages or protecting profit with a trailing stop after each incremental profit level has been reached as it heads toward the target TP. Far too many retail traders hold positions until it's too late and then the market turns against them and they end up breaking even or even making a loss in the hope that it will go back in the right direction and hit their ultimate, full-on dream TP. Making money, or to use a specific example, getting into profit through a click on MT4/5 is an initial action. If that entry turns out to be profitable, it was either through blind luck or skilful analysis. Keeping that money, or profit on an open position in our example, requires learnt behaviour. Thus, you would either bank after a certain level of profit or trail your stop up/down depending on whether you're long or short using a habit that's now second nature to you. Growing money, or increasing your equity balance for our example, requires knowledge and discipline. Growing your account size means not going in heavier with an increased lot size in relative terms to your account size simply because you've had a good run prior. It also means sticking to the same successful strategy that has made you profitable up to that point. Stay disciplined. Also, level up with your skills by gaining more knowledge regarding additional strategies (THAT FIT INTO YOUR EXISTING SYSTEM) and fine tune existing strategies to increase ROI. As an example of the latter, think about how you trail your entries. Advanced techniques on how to use trailing stops can significantly increase your profit on each entry. Trading is a strategic business activity. It requires action, good habits and the thirst for knowledge. Trade safe and trade profitably. GVFX - Stress Free Trading Strategy If you find trading stressful, then one of two things is happening. Firstly, your trading strategy and risk management is not effective and the excessive drawdown (reversal) on each entry and/or the large number of entries you are having to chop is causing undue stress. Secondly, you may have a strategy and risk management style that works but you simply don't have the kind of personality/temperament that can tolerate any amount of stress. In the latter case, perhaps trading is not for you. For those followers who occasionally want to take it easier for a bit of a break or for those who need to build up their resilience before being able to trade more aggressively, I suggest the following: 1) Risk no more than 1% even though we risk between 1 to 3 per cent. 2) Enter on a significant reversal to a key level. Do not enter on open even if it is a small lot as seeing this go into the red will cause you stress if you cannot handle it. 3) If you enter on a significant reversal, you can move the SL further back by the difference between where you opened your entry and the entry price on the trade setup. In that case, it will be unlikely that you will get anywhere near your SL so even if it reverses, you can relax. Have a great weekend all GoldViewFX XAUUSD TOP AUTHOR
OANDA:XAUUSDEducation
by Goldviewfx
27
EXPLAINED DIXIE (US Dollar Currency Index) What, why where, how?The US Dollar has been in the limelight and not in a good way. In fact, he US dollar has not been dimmer since 22 September 2022 where it was trading at 114.42. Currently it’s at 103.90 (9.19%) down… But what does it all mean? Why is the Dixie such a popular index to understand, and trade. You see it in the news every time you turn on Bloomberg and you see it in the publications. So we might as well understand it for the next time they mention the Dixie. IN this short article I’m going to answer the 6 most important questions, to help you understand the Dixie is, how it’s calculated and how to trade it… 1. WHAT IT IS? The U.S. Dollar Index – DIXIE - (USDX) was first intrpduced in March 1973 and is a measure of the value of the U.S. dollar relative to a basket of foreign currencies. 2. HOW IT’S CALCULATED The USDX is calculated by the Federal Reserve Bank of New York and is based on the exchange rates of six major currencies: the euro (EUR) – Accounts for 57.6% - ,Japanese yen (JPY), British pound (GBP), Canadian dollar (CAD), Swedish krona (SEK), and Swiss franc (CHF) . 3. ECONOMY GAUZE The DIXIE is used as a barometer for the value of the US dollar to base it on the potential strength of weakness of the U.S Economy. 4. TRADED BASED ON The USDX is traded on financial markets, and its value moves based on certain macro aspects such as: Changes in exchange rates, economic conditions, and global market trends. 5. USE Investors and financial institutions uses the USDX is often to hedge against currency risk, as well as to speculate on changes in the value of the U.S. dollar. 6. HIGHER VERSUS LOWER VALUE If the Dixie goes up this means the US Dollar is gaining strength against the other currencies. The more it goes up the more it appreciates which indicates a stronger US dollar – Stronger economy – more confidence in the US dollar. If the Dixie drops, it means the US dollar is getting weaker against the other currencies in the basket for the index. As it drops more, it depreciated which tells us the US dollar is getting weaker which means – a weaker economy and less confidence in the US dollar. If this was interesting let me know in the comments or hit the like button and let me know what else you would like to learn about in bite size information. Trade well, live free. Timon MATI Trader
TVC:DXYEducation
by Timonrosso
BEFORE YOU TRADE - Look - Calculate - RememberI don’t care if you’re new or old to the trading business. This will apply to you, regardless. In this short but vital article, we’ll go through 3 of “Before you do this – You need to do that”. #1: BEFORE YOU TRADE – LOOK Trading is a strategy game. You don’t just thumb suck a trade and guess where the market will head. No, you have your criteria on: • The markets you’ll analyse • The time frames you’ll use • The criteria you’ll follow • The entry, exit and risk levels you’ll apply Before you take a trade, you need to first look and find synergy between your strategy and the market you’re looking at. #2: BEFORE YOU SPEND – CALCULATE Trading is a risk game. You don’t just put in all your money in a trade because it feels good or looks too good to not risk. You are not in the game to be right… You are in the game to play calculated risks with your winners as well as your losers. I have a 2% risk rule per trade, in order to bank a 4% gain. This is the best strategy that works for my 19 year old, 4 step strategy, 62.5% win rate MATI Trader System. Whether the trade looks incredibly attractive and is almost a given, it doesn’t matter. Calculate your risks, follow your rules and calculate before your spend. #3: BEFORE YOU GET EMOTIONAL – REMEMBER Trading is a mind game. It can play with your emotions at times. • A loss can ruin your week. • A win can make you feel like a megalomaniac for a day. • Your birthday can make you think you’ll profit that day. • Your previous loss can cause you to doubt your trading strategy. • Your previous winner can scare you. “You need to remember that the financial markets don’t know you, care for you and remember that trading is a forever business.” Next time when you feel those emotions taking over, just remember that sentence… Did you find this useful, follow for more daily trading tips... Trade well, live free. Timon MATI Trader
JSE:J200Education
by Timonrosso
1
9 SIGNS You're Trading Well! Trading well is a marathon and not a quick race. It doesn’t matter how much money you banked in a week, winners you took or how much money you have in your account. What does matter is one word “Persistence”. And with persistence comes, 10 signs that you’re doing well with trading. Let’s get to them… Sign #1: You have the passion to LEARN how to trade When you learn to trade, it’s not only a strategy game but also a self-introspection journey. You get to understand who you are as a trader in a way that you learn: • What time you wish to trade • What markets you’d like to look at • The instrument you want to buy/sell • The broker that best suits your needs If you have the passion to learn what fits your personality when trading, it’s a good sign you’ll do super… Sign #2: You have a solid daily trading routine There is no right or wrong way to go about your trading. Once again, it’s what you feel comfortable with on a daily or weekly basis. Maybe it is reading MATI Trader first thing in the morning, then going through your watchlist and seeing which trades are lining up. Afterwards you set your trading levels and take your trade. Whatever your trading routine is, make sure you have a checklist to follow. Sign #3: You have strict rules to follow Rules are the only way to find consistent opportunities within the chaos. I have three rules with trading. 1. Never risk more than 2% per trade (no matter the portfolio account). 2. Never risk any money you can’t afford to lose 3. Never hold more than 5 trades at any one time. If you have rules to follow, you’re doing well… Sign #4: You have tunnel vision There are no two traders that are the same. This means, when you know who you are, you’ll know to ONLY follow your rules, strategy and vibe. If someone tries to change your mind, put your blinkers on and remember the proven strategy you KNOW works. Don’t listen to others and don’t care about where other traders are in their career. Sign #5: You have a track record Whether you’re still demo-trading or live-trading, it doesn’t matter. All you need to make sure is that you have an excel sheet or written pad with all of your trades you have taken or backtested. This is will remind you and give you proof of what works and will make you a consistent income during your trading. Sign #6: You have the time to trade You’ll need to choose the time, that suits you best to analyse and trade the markets. It can be first thing in the morning, during your break in the afternoon or even 2am when you wake up and can’t go back to sleep. Sign #7: You can psychologically handle it Trading is mostly mindset. How you deal with your winners, losers and with your trading longevity. If you are prepared to mentally handle everything trading comes with – you’re well on your way to a bright trading future. Sign #8: You have a dream As much as trading is fun during the process, we all have a future idea on where trading will take us. Some want to travel around the world and not have to worry about budgeting. Others want to just spend their time during retirement keeping their brain active and seeing trading as a forever-challenge. Me, I love to trade, teach how to trade and create financial freedom for my future and for generations to come. What is your dream? Sign #9: You have your trading system The game-plan… Do you know where to enter, exit and place your risk levels every time? If so, GOOD. You have a trading system. This is all part of trading well. If you enjoyed this article feel free to LIKE and Follow for more daily trading tips articles. This is information I've gathered since 2003. Trade well, live free. Timon MATI Trader
NASDAQ:NDXEducation
by Timonrosso
7 SIGNS You're Trading Well So, you’re probably wondering how you’re doing as a trader. • Are you rich? • Is your portfolio shooting up? • How many winners did you bank this week? If you think those are the questions to ask – Then YOU’RE WRONG! As I’ve mentioned many times before. Trading well is a marathon and not a quick race. It doesn’t matter how much money you banked in a week, winners you took or how much money you have in your account. What does matter is one word “Persistence”. And with persistence comes, 10 signs that you’re doing well with trading. Let’s get to them… Sign #1: You have the passion to LEARN how to trade When you learn to trade, it’s not only a strategy game but also a self-introspection journey. You get to understand who you are as a trader in a way that you learn: • What time you wish to trade • What markets you’d like to look at • The instrument you want to buy/sell • The broker that best suits your needs If you have the passion to learn what fits your personality when trading, it’s a good sign you’ll do super… Sign #2: You have a solid daily trading routine There is no right or wrong way to go about your trading. Once again, it’s what you feel comfortable with on a daily or weekly basis. Maybe it is reading MATI Trader first thing in the morning, then going through your watchlist and seeing which trades are lining up. Afterwards you set your trading levels and take your trade. Whatever your trading routine is, make sure you have a checklist to follow. Sign #3: You have strict rules to follow Rules are the only way to find consistent opportunities within the chaos. I have three rules with trading. 1. Never risk more than 2% per trade (no matter the portfolio account). 2. Never risk any money you can’t afford to lose 3. Never hold more than 5 trades at any one time. If you have rules to follow, you’re doing well… Sign #4: You have tunnel vision There are no two traders that are the same. This means, when you know who you are, you’ll know to ONLY follow your rules, strategy and vibe. If someone tries to change your mind, put your blinkers on and remember the proven strategy you KNOW works. Don’t listen to others and don’t care about where other traders are in their career. Sign #5: You have a track record Whether you’re still demo-trading or live-trading, it doesn’t matter. All you need to make sure is that you have an excel sheet or written pad with all of your trades you have taken or backtested. This is will remind you and give you proof of what works and will make you a consistent income during your trading. Sign #6: You have the time to trade You’ll need to choose the time, that suits you best to analyse and trade the markets. It can be first thing in the morning, during your break in the afternoon or even 2am when you wake up and can’t go back to sleep. Sign #7: You can psychologically handle it Trading is mostly mindset. How you deal with your winners, losers and with your trading longevity. If you are prepared to mentally handle everything trading comes with – you’re well on your way to a bright trading future. This is all part of trading well. If you enjoyed this article feel free to LIKE and Follow for more daily trading tips articles. This is information I've gathered since 2003. Trade well, live free. Timon MATI Trader
JSE:J200Education
by Timonrosso
1
3 Sins of a Revenge Trader!Listen, there are only two types of market environments… FAVOURABLE – Where the price movements yield high probability trade setups… UNFAVOURABLE – Where the movements in the market do NOT offer high profitable trade setups… For example… With my breakout MATI Trader System, I need a market that has broken out of a sideways range in order to ride and profit from it… If the market stays in the sideways range, and I want to revenge trade… Whether I buy or sell, I will LOSE every time… That’s why you need to remove the emotions and personal opinions from your analysis COMPLETELY. The markets have no idea who we are and they don’t care whether we won or lost… WAKE UP! There is no catch-up If that revenge is flowing through every inch of your body, and you think you can play catch up – WATCH OUT. Most revenge losers, will just try to reverse their trading positions and swing the other way… This is JUST as dangerous for your portfolio… You’re committing three sins when you try to revenge trade… SIN #1: You’re going against your proven trading strategy You’re tempted to trade on impulse rather than following your logical and winning trading system. SIN #2: You’re over-trading This is when you take more trades, to try to feel better about your loss you made… SIN #3: You’re trying to play catch-up This is where you’ll take try to make up for your losses, by just taking trades by chance You’ll need to stop the revenge trading before it becomes a habit… Trade well, live free, Timon MATI Trader PS: Next article I'll share my solutions to Revenge Trading
JSE:J200Education
by Timonrosso
4 Problems when you Hold a Delisted ShareAs we are expecting Steinhoff to delist soon. What if you continue holding shares in the company? From my experience when a company goes from listed to private it means a few things. 1. Liquidity issues Volume will be low where you might not be able to exit a position with a rightful buyer or sell 2. lack of transparency This leads to uncertainty for the business as shares holders won't have the transparent information like they would with a public company. 3. Valuation With a company listed privately, this can lead to investors pricing in the business rather than shareholders. This can result in slower performance in the price of the share. 4. Market perception The fact that a company has been delisted can be seen as a negative development by some investors, who may view it as a sign of financial distress or poor management. This can affect the market's perception of the company and its shares, which can in turn affect the value of your investment. Do you have a fundamental analysis question? Let me know in the comments and I'll answer in simple terms. Trade well, live free. Timon MATI Trader
JSE:J200Education
by Timonrosso
What a Leopard can teach you about Successful trading I’m from South Africa. I’ve observed the movements and ways of life of wildlife at different game reserves, resorts and zoos. Penwarm, Kruger National Park, Londolozi and Sabi Sand Game Reserve to name a few. And I’ve seen how leopards work when they catch their prey. This methodology is very similar to how we as trader should act in the financial markets. They lurk behind the bushes in a crouch position. They can wait all day for just the right moment to pounce on its prey and bring the hunt back to its family. Even though they know they can outrun their prey, they still wait for the perfect moment to pounce. Either they’ll wait for the animal in a vulnerable position, injured or the perfect time where they will have a higher probability of catching it.. Patience my friend. That’s the most important element to grow your portfolio. You don’t make money taking a trade. You make profits while holding, waiting and letting the market play out. Here are five reasons why Patience is key for your trading success. #1: Stops you from making impulsive decisions Once you’re in your trade, holding and leaving it alone can help you avoid making impulsive decisions that are based on emotions rather than careful analysis. #2: Helps you spot high probability trades You need to have the patience to wait for the right opportunities to arise, rather than jumping into a trade just because you're feeling anxious. #3: Hold onto winners Trading is NOT about banking small profits. Because you do that and your losses will outweigh your winners. Your Risk to Reward should ALWAYS be above 1.5 at the minimum. This way you’ll hold onto your positions for longer periods of time, which can increase the potential for profits. #4: Takes away fixation When you enter into a trade, you may feel the instinct to watch it and observe ALL day. This will spark up your cortisol levels and will distract you from your higher priorities you have in a day. Once you’ve taken the trade, leave it alone to do its thing. You have your winning trading strategy in place. #5: Wait for the prey Like a leopard, successful traders need to be patient and wait for the right opportunities to arise, rather than acting impulsively or making rash decisions. This is why having a clear and proven plan can also teach us the importance of running it which is essential for success in the financial markets… If you enjoyed this article follow for more Daily tips. I enjoy sharing information I've gained since 2003. Trade well, live free. Timon MATI Trader
JSE:J200Education
by Timonrosso
1
25 METRICS and 10 BENEFITS of a Trading JournalTrading Journals are essential. It's your game plan to what you could potentially see in the future as a trader. In the above image are the 25 metrics every Trading Journal should have... And below are 10 benefits for having a trading journal... 1. KEEP TRACK A trading journal helps to keep track of your trades, including the reasons for making the trade, the results of the trade, and any lessons learned. 2. CUT OUR BAD HABITS It can help to identify and eliminate bad habits and biases in your trading. 3. POWERS DISCIPLINE A trading journal can help to improve your discipline, which is essential for long-term success in trading. 4. CONSISTENCY It can help you to develop a consistent and effective trading strategy. 5. FEEDBACK FOR REFINEMENT A trading journal can provide valuable feedback that can be used to refine and improve your trading. 6. FOCUS ATTAINED It can help you to stay focused and avoid making impulsive decisions. 7. TRACKS SUCCESS A trading journal can provide a valuable record of your progress as a trader, which can be useful for reviewing and analyzing your performance. 8. CONFIDENCE BOOSTER It can help to increase your confidence and reduce stress by providing a clear and objective record of your trading activities. 9. STAY ORGANISED A trading journal can help you to stay organized and avoid missing important details or opportunities. 10. LEARN AND IDENTIFY NEW POSSIBILITIES It can be a valuable tool for identifying and learning from your mistakes, which is essential for long-term success in trading. Why else do you think a trading journal is essential? Let me know and follow for more daily trading tips from information I've gathered over the last 20 years as a financial trader. Trade well, live free. Timon MATI Trader
JSE:J200Education
by Timonrosso
5 Questions to Ask before you take your next TradeThis is a reference guide with five questions you need to ask, the next time a trade lines up and you need to take a trade. Ask and answer these questions out loudly to help you execute your trade easily the next time. Question 1: Do I have a strategy or plan? First, you need make sure you have a proven and profitable strategy. Or else how else will you take a trade? Whether you’re following: • Your own proven trading strategy • My 20 year highly successful MATI Trader System • The 9 year popular Red Hot Storm Trader service You first need to establish you have a strategy and system to follow each time. Once you have one of the above, move onto the next question. Question 2: Has a trade lined up? Next, you’ll need to know if a trade has lined up according to a proven and tested trading strategy. Whether your trading system is a swing, indicator, mean reversion, Gartley, moving average, volume or a price action system like the MATI Trader System. you'll need to have the green light to know when a trade has lined up and whether it’s ready for the go. Question 3: Do I know where to place my trading levels? Once a trade has lined up, you'll need to know or calculate exactly where to enter, place your entry, stop loss (for risk) and take profit (for reward) levels. These three levels are essential for entering your trade. This way you'll have a systematic approach with every trading position you take. Question 4: Do I know how much to put into my trade? Next is position sizing. Trading is one big risk to reward game. You'll need to choose an exact percentage of your portfolio that you're willing to risk to gain with each trade. With high probability trades, I never risk more than 2% of my portfolio. With medium probability trades, I drop that risk to 1.5% of my portfolio per trade. At this point, you also need to know how many CFDs you’ll need to buy/sell to make sure your risk is low. Question 5: Am I ready to press the button? Finally, you'll need to do final checks. This is where you’ll confirm with the strategy, check all your trading price levels and position sizes to confirm the that you’re ready to push the button to get you into your trade. Once all is ready, you just need to do just one more thing. Push that BUY or SELL button. Those are the only questions you'll ever need to enter a trade. Unless I'm wrong, let me know what other question is missing from the list. Trade well, live free. Timon MATI Trader
JSE:J200Education
by Timonrosso
1