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#SPX Update 7-19-2022#SPX finally broke out over 3900 and continued strong up through close. NFLX was a big watch AH and ended up showing good numbers. We have TSLA AH tomorrow. SPX can continue this move up into 4000-4020 area by friday. 3957 and 3974 are still targets before 4000. Do not let high volatility deter you from trading if you have reliable charts you can read. Instead conwider controlling your risk with Position Sizing. Consider leaving your loss limit the same but lowering position size. This allows you to limit loss if the trade goes against you, and allows you to add position size at set targets when the charts continue in your favor.
SP:SPXLong
by MoneyFlow_Options_Community
10 things every trader should knowBINANCE:BTCUSDT 1. There is no general approach to trading. Most traders believe that there is a formula that can be used to predict market fluctuations. But in reality, not only is there no such formula, but it is not even possible to develop a general model of markets, since patterns are constantly changing. There are numerous styles and approaches (which sometimes contradict each other) used by traders, perfectly demonstrate the huge opportunities that stock trading provides. That is, there are a large number of ways to become a successful trader. But in order to find your way, you need to work hard. 2. Look for the style of trading that best suits your preferences. Each trader for successful trading must develop his own method that will correspond to his ideas about the market. A trading approach that is profitable for one trader can lead to losses for another trader if he does not adapt the method to his abilities and ideas. As O'Shea said: "If I try to teach you what I know myself, you will fail, because you are not me." Failure can befall a trader even if he stands behind a successful trader and closely observes everything he does. Such training will allow you to adopt some good habits, but no more. Indeed, in the future there will be many moments when the second trader will want to do something completely different than the first trader. This does not mean that trading one may be less successful than trading the other, but they will certainly operate differently. A trader for successful trading needs to learn to be himself. 3. Trading should not make you feel uncomfortable. In the event that the open trading position is very large, traders often exit trades during minor corrections in which they could make a significant profit. This happens because of the fear that prevails over the mind. This means that the size of positions must be reduced until fear no longer prevails over reason. Even if the market is moving in the right direction, using only a fraction of your capital to trade may end up being more profitable than if you were to invest all of your capital. 4. A good trader must adapt quickly. If trading were so simple that a trader could find one pattern and exploit it for a living, then everyone would be successful. But life is much more complicated: markets change all the time, and a pattern that was profitable can suddenly stop working. This is what a good trader should always be ready for: even the most reliable approach can stop making a profit and start bringing continuous losses. 5. Don't confuse winning/losing trades with good/bad trades. The thing is, there are good trades that make losses and bad trades that make profits. After all, the most wonderful and profitable trading strategy has a certain percentage of losing trades, but this does not make it bad. It is impossible to understand in advance whether a transaction will bring a loss or profit. But if trades are made in accordance with a trading system that has a positive mathematical expectation, then they will be good and correct, regardless of the amount of profit or loss. This is explained by the fact that trading with a positive mathematical expectation makes a profit over a long period of time. If transactions are made randomly, then regardless of the amount of profit or loss, they will be bad, because over a long period of time they are guaranteed to bring a loss to the trader. 6. Focus on methods that work and spend less time on methods that don't work. This advice from Clark is very commonplace, but many traders do not follow it. Very often you can find cases when a trader manages to find a successful trading style, but he gets bored and begins to make extraneous transactions, not quite understanding what he is doing. As a result, the overall performance decreases. In order to make a profit, a trader must focus on what he is good at and concentrate on those trades. 7. On the way to success, you need to make a lot of mistakes. Dalio argues that all your mistakes need to be studied and carefully analyzed - only this will help to achieve progress and achieve success. After all, each discovered and worked out error will improve your trading approach or find weaknesses in it. The trader will only benefit if he writes down on paper each of his mistakes, draws a conclusion in writing and writes down what adjustments he made to trading after that. You should not rely in such a business as trading, only on memory. Periodic review of the records will allow you to consolidate the acquired skills and prevent these mistakes in the future. It is impossible to completely avoid mistakes in trading. But the success of a trader is determined It is not the absence of errors, but their low frequency. 8. Make only those trades that you are sure of. A trader needs to have a considerable amount of patience in order to wait for trades that he is sure of. This increases the number of profitable trades. For example, a good trader is not bothered by having to do nothing for long periods of time. He does not make trades until he sees that it is possible to make a trade that suits his trading strategy. 9. Don't trade on a wave of euphoria. A good trader should not fall under the influence of euphoria or stock market hysteria. In general, excessive euphoria in the market is the first sign of an approaching trend reversal. 10. Watch how the markets react to the news. Market reactions to news may be more important than the content of the news. According to Piatt, during one of the transactions there was an endless stream of bad news. He expected that this position would close with a loss after every bad news, but the price, despite expectations, did not fall. As a result, Piatt decided that this (the fact that the market does not react to the news) confirms his trading idea, and increased the size of his position four times. This deal brought him one of the largest profits in the history of his work. Studying the markets, you immediately understand the huge scale of exchange trading. The main thing is that trading is equally accessible to everyone. One click - and you are on the stock exchange in New York, the second click - and you are already in Tokyo. These exciting journeys can bring not only pleasure, but also money.
COINBASE:BTCUSDEducation
by Crypto4light
USDX Daily TA Cautiously BullishUSDX Daily cautiously bullish. *Equities are down, cryptos are down, commodities are down (yes Gold included), real estate/housing market down, inflation up and the US dollar (as well as Russian ruble)... up. The Fed is expected to announce anywhere from a 50bp-100bp rate hike this Wednesday if they want to be in line with their promise to go "beyond neutral" to ring in still growing inflation; 50bp would likely assuage markets in the short term and stall the dollar, whereas 75bp+ would likely send markets lower and keep pushing up the dollar.* Recommended ratio: 90% USDX, 10% cash. Price is currently in Discovery as it is currently printing a new ATH at $105.05 amidst a big push back into treasuries (10y/30y). Volume remains Moderate (high) and is currently on track to favor buyers for a fourth consecutive session if it can close in the green in today's session. Parabolic SAR flips bearish at $101.36, this margin is mildly bearish. RSI is currently breaking above 63.78 and is trending up at 68.60 as it fast approaches overbought territory. Stochastic remains bullish and is currently on the verge of testing max top (where it can potentially coast in the bullish "autobahn zone" for a while). MACD remains bullish for a second consecutive session and is currently trending up at 0.39, the next resistance is at 0.46; if it blows past 0.46, it will likely test the uptrend line from August 2020 at around 0.80 resistance. ADX is currently trending up at 23 as Price continues to rise, this is mildly bullish and becomes very bullish if it can maintain this same correlation above 25. If Price is able to continue in its Discovery, the next psychological level to watch for is $110. However, if Price retreats from here then it will likely test $103.77 support. Mental Stop Loss: (two consecutive closes below) $103.77.
PEPPERSTONE:USDX
by dailytaguy
GOLD/USD Daily TA Cautiously BullishGOLD/USD Daily cautiously bullish. *As the risk of stagflation becoming full blown recession gets higher every month, equities and cryptos are falling, USD is getting stronger, energy prices are coming back down (in the short term) and Gold is going up.* Recommended ratio: 75% Gold, 25% Cash. Price is currently retesting $1867 minor resistance is it inches closer to testing the 50 MA at ~$1884 (as resistance). Volume remains Moderate (high) and has favored buyers in three of the past four sessions as Price continues to defend the 200 MA as support. Parabolic SAR flips bearish at $1824, this margin is neutral at the moment. RSI is currently trending up at 54, the next resistance is at 67.24. Stochastic crossed over bullish in Friday's session and is currently trending up at 71; the next resistance is at 88.41. MACD remains bullish and is currently trending up at -4.93 as it is in the midst of breaking out above -10.84; the next resistance (minor) is at 10.56 (which should coincide with the uptrend line from March 2021). ADX is currently beginning to form a soft trough at 13 as Price continues to consolidate, this is neutral at the moment. If Price is able to close above $1867 minor resistance one more time, it will likely test the 50 MA at ~$1884 as resistance before potentially retesting $1910 minor resistance. However, if Price is rejected by $1867 minor resistance it will likely retest the 50 MA at ~$1840 before potentially retesting the uptrend line from April 2020 at ~$1800. Mental Stop Loss: (two consecutive closes below) $1867.
G
by dailytaguy
What makes a great trader!Traders! Learn from lions! 1. Set Goals Every time the sun rises, the lion has one goal that keeps it motivated. It is survival. No matter what day it is, no matter how hard the struggle will be, they stand up with determination to survive. That is called the lion attitude. Many lions lose their reign, cubs, and queens to other lions, but they never give up on life. Lions are born to hunt, and they know they have to get up and run to get fed. They need to be ready to defend their territory and to fight with all their power to protect the pride and the young cubs. With their survival instinct, they fear no other animals and survive among the fittest. Therefore, as a trader you need to set goals. These can be long term goals or daily goals and strive to achieve your goals. A trader that sets no goal is like a sailor that goes without a compass. 2. Be selective Lions don’t kill just any animal. First they observe and among the group of animals they pinpoint one, probably the weakest but also the size that can feed the entire family. Most of the time their instinctive calculator works. What is the lesson? There are many instruments. Not all these needs to be traded at once. We should pay attention to a few instruments, perhaps pick one or two that are shaping up well and trade these. It is also good to know which instrument is good for us to trade, which one brings us fruits and which one burns our accounts so we avoid this. It is not necessary to trade everything, what is necessary is to make money. What gives you money-stick to that. 3. Focus Lions focus on one target. After selecting a target, they only put attention to that. They don’t waste time looking at others. After selecting the instrument that you want to trade, focus on that, avoid being distracted by other instruments or pairs. Other pairs will tick and move, if you divert your attention from those that you selected you will lose focus and end up taking wrong trades that you didn’t plan of taking. 4. Embrace failures The hunt is not about excellently using that one opportunity to get the prey. It is about hunting until you get one without knowing how many opportunities you need. The facts are that the hunt fails eight out of ten times. However, have you ever seen a lion losing hope? Or have you ever seen a depressed lion? No. After every failure, it tries again and changes its approach. Lions never give up, because they have a different type of appetite. They can keep going, no matter how hard it gets. Every time again, they are trying to make a better hunt to succeed. That is called determination. The struggle forces them to get it to the next level. The prey is not just going to sit there and wait for the lion. Even as the king of the jungle, they have to work hard and learn the lessons throughout each attempt. For you, it will be no different. Embrace the failures and find the strength in every setback. Your failures are part of your success. They allow you to begin again more intelligently. Make sure you will not repeat them. A real trader's goal is to be a profitable trader. Through the process of becoming profitable, you will fail, sometimes fail very terrible. Just like the king of the jungle that never gives up, you should not be held back by those failures. You need to get excited by the process and fight through anything that holds you back from achieving your goals. Keep challenging yourself by setting new goals. The hunt never stops, so aim higher with every new goal. 5. Seek Support from others The lion finds its highest support amongst the other lions in its pride. They depend on each other when it comes to their survival. Every lion plays its part in times of hunting the prey and in times of defending its territory. As the only "big cat" who lives in groups, they work with each other and work for each other. No matter how hard the struggle is, there is no task too big when it is faced together. The more lions involved in the hunt, the bigger the prey they will go after, and the more organized and coordinated they will be. No matter how long you've been an active trader, you still need to learn from others. This is very relevant if you are just starting of as a trader. Right from the very beginning, trading will not be as smooth as you expect it. Your whole life will be involved, your emotion and your psychological being. It is best to seek support from others and never get ashamed to ask for help. One way of seeking help is by taking lessons from those who are doing well in trading. If there’s any cost involved-pay it, because the lesson you will get from there will be invaluable. 6. Enjoy your daily Moments Besides all the challenges the lion is facing in chasing their life goal, it still sleeps for more than half of the day. Moreover, it enjoys the daily moments in the pride by relaxing, lazing around, and play with other lions. Lions spend between 16 and 20 hours each day resting and sleeping. They conserve their energy during the warm day because of their few sweat glands. They become more active at night when it is colder. Just like the lion, find time to relax. Become aware of when it is time to enjoy your moments and get your energy level upwards. Make sure you take care of yourself to be at your best when you're hunting your goals. The best moments in life with family, friends, or just yourself, have to be experienced at its full potential. Avoid being on the chart the whole day, it is dangerous to your health! 7. Be protective If you threaten anything of value to the lion, you better be prepared to fight. Its family, its territory, the lion is willing to die for these. What are you willing to protect and die for as a trader? Each time you open the chart, your account is under threats, your fund is at risk. Many of the risks are cost by ourselves. Overleveraging, trading with no stop loss, these are just some of the mistakes we make. A lion would defend its territory and even lay its life for it. As a trader, it is your goal to defend your capital by using proper risk management and setting calculated stop losses to every trade you execute. Friends, hope you enjoyed this article and if you did please do not forget to like and share. Do also let me know which point you enjoyed the most and feel free to write it in the comment section below. Have a wonderful trading week.
FX:NAS100Education
by Forexintelligence_NA
1
BTC/USDT by CryptoTradersWWThis month, keep it simple with BTC! The symmetrical triangle was perfectly retested, which is a bullish indicator. However, the market is encountering resistance at the TPO point of control drawn from the start of 2021, which, if broken and held above, would likely lead to additional highs. When price was within this pattern, the 50 - 3-day Moving average served as dynamic support, and it will serve as additional line of defense if price falls back into the triangle. <----------------------------> ☑️ Follow, Comment & Like ☑️ Create a civil and healty discuss in the comments and share with me your thoughts Thanks and Happy Trading!
by CryptoTradersWW
Being a weekend trading warriorYour results on Monday will be influenced by the work that you do on the weekend, specifically Sunday. As an intraday trader I constantly think about my trading. Here are a few points which every trader should focus on, 1 - Mapping our mental weaknesses We all have mental challenges, some of us have a lot of FOMO, while others oversize and over trade, you know what is holding you back as a trader... FIND IT AND WORK ON IT! 2 - Reviewing trades (winners & losers) Search for the plays where you can add size, search for patterns that you can exploit next week, review your best trades. What trades worked best for you? more of these on Monday. What trades are not working for you? Eliminate them. 3 - Checking for key levels & patterns The best in every industry practice and train... yet probably 90% of traders never really do any kind of practice, they search for a strategy and then cannot wait to apply it to the markets... real traders work on their trading hence they create REAL SKILLS!
BITSTAMP:BTCUSDEducation
by PrimedGroup
5
Bitcoin shorts and a KEY lesson for day traders!Hey again traders! Happy Monday and welcome to the new trading week! Yesterday we released a post about Bitcoin explaining what we believe is happening and how we will be trading! Today we release yet another post this time detailing our strategy for the rest of the day when it comes to Bitcoin but also provide you with a key lesson on how you should approach day trading. We hope this video helps you in one way or another and if it does, then our job has been a success here! Happy Trading!
BITSTAMP:BTCUSDShort
by PrimedGroup
⭐ DO NOT FOMO⭐ DO NOT FOMO 💥The financial market provides trading opportunities every day. 💥Do not FOMO (Fear of missing out). Most often rather than not you will always be in the wrong end of a trade if you FOMO on it 🤔 What to do instead? 1. Remain calm, if you didn't plan the trade, let it be. 2. Ignore traders who shill trading opportunities without giving you concrete reasons and research details. 3. DYOR (DO Your Own Research). 4. Understand that you will get other opportunities so no need to panic. DO NOT FOMO !!!
BLACKBULL:SPX500Education
by Sage_Trader
1
3 Mindset Tips for Elite TradingHappy Sunday Traders! In todays video we go over 3 mindset tips for elite day trading! Watch the short video below to understand this better, but here they are anyway: BE OPEN MINDED Let the market be your guide (price action) Wait until you feel the market (day trading) Be just as ready to buy, as you are to sell CONTROLED AGGRESSION Know what an A+ setup is, then develop the confidence to act big and fast Have a plan, both for the best entries and the failed trades EVERY TRADE IS ABOUT DEVELOPMENT How good/great of a trader could you become by next month if you learn from every trade you take this January?
BITSTAMP:BTCUSDEducation
by PrimedGroup
2
5 Fundamental aspects of day trading successHere's a quick video on a few vital skills every trader needs to acquire before he/she can actually achieve success in day trading. This is 100% from our experience, we've worked hard to achieve success in day trading so these tips come from our direct experience. Hope they help you guys: HARD WORK: hard work in trading doesn't come from actual trading, hard work in trading comes down to the preparation aspect. PATIENCE: Patience enables an excellent entry point, which allows a trader to enter a bigger position and increase the profitability factor. DISCIPLINE: Discipline is following the process day in day out without altering it because of a few red trades. Discipline is executing the process every day and on every trade. REPLAYING TRADES: Reviewing your biggest loses and your biggest winners is literally the quickest way to become a primed trader.
CBOT_MINI:YM1!Education
by PrimedGroup
8 tips to keep you sharp over the weekend!Tomorrow is Christmas eve, the general markets will be closed, of course crypto will still be rocking and rolling, but the CFD markets will be shut. In day trading it is very easy to get rusty, a few days will do the trick, so with a 3 day weekend approaching we wanted to use this time to help you stay on track so you remain "hot" for the last trading week of 2021! For those of you who will be celebrating Christmas, you will be busy Friday and Saturday, but we're sure you can find a cheeky hour on Sunday to work on yourself, since the weekend is the perfect time to grind, and do things such as reviewing your trades, seeing which assets moved the most and why (so you can take advantage of these situations in the future). Today's blog topic will be guidance on what you could work on this weekend to keep yourself hot and not get rusty! "DO OR DO NOT, THERE IS NO TRY." - YODA 1. THINK HOW CAN YOU IMPROVE YOUR PATIENCE – Having patience as a day trader will help in many ways, one of them being better entries, since entries are directly connected to our PnL it is then a vital skill to acquire, think what you could do to become a more patient trader and create a plan for the new week and apply it on your first opportunity! 2. REVIEW THE MAIN MOVERS THIS WEEK/MONTH – Every successful person, whatever industry it may-be practices a lot, the best way we trades get to practice is to review the charts and see what you could have done to profit in the new week by learning what you missed the week before 3. REVIEW YOUR RULES (PROCESS / ENTRY / EXIT / WATCHLIST) – Always helpful to read over and reevaluate your trading rules, it is a very underrate process, and because the majority of traders do not review their rules and processes they generally do not know what they are nor do they apply them! 4. VISUALIZE SUCCESS AND CHALLENGES – Visualize yourself making good/great trades. see yourself going through different scenarios and achieving the profits you seek. From seeing the perfect setup to executing the trade to exiting the trade, every aspect of trading, see it and feel it. Then also review the challenges you face as a trader, I'm sure you can think of dozens of them! 5. THINK HOW CAN YOU MAKE ONE A+ TRADE AT A TIME - Work on your entry process and criteria, know what the BEST TRADES look like, write it up! So when they show up you can execute with a larger size and maybe bank a much bigger profit than normally. 6. TALK TO EXPERIENCED TRADERS – It is very helpful to get ideas and see what these traders are doing, there is always something for you to learn, even when you become a millionaire trader, you'll still have so much to learn! 7. HOW CAN YOU IMPROVE THE RETETION OF PROFITS – If you are up on the day, set a tighter stop loss to keep your profits, that could always be a solid idea right? There are many ways to retain profits, such as lowering your size after a strong winning streak in a day... but its also your job to think about how you could do this better! 8. WORK ON YOUR PREPARATION – Preparation is Key for success! If you fail to prepare, you prepare to fail! We prepare for a solid hour before we start to trade, there is value in this... so this weekend create your "preparation process" and put it to work! Ok we are done! Thanks for reading, but before we let you go we have a small request! If you come up with any good ideas that work for you, or have them already, please share them with us we'd love to learn from you too! Merry Christmas and all the best!
Editors' picks
Education
by PrimedGroup
79
HUGE BUYING opportunity on Best Buy (BBY) for a move up to $150 We've just opened a LONG position on $BBY using 5.38% of our equity. Fundamental Analysis Best Buy's (NYSE:BBY) latest earnings report delivered better-than-expected results and signaled that the company’s business remains remarkably strong across all segments. It was expected to spark investors’ interest considering the fact that we usually see an increased demand for the retail stocks heading into the holiday season. Sales trends beat expectations again thanks to strong demand in both the online and in-store channels. What’s even more important is that the profitability of the company increased again despite the rising supply chain costs that the senior management has had to battle with. Both, the company’s CEO – Corie Barry and Best Buy’s CFO – Matt Bilunas confirmed for a 3rd consecutive time this year their positive outlook for the huge growth opportunities ahead for the business. So you might be wondering - “Well, if the earnings report was so great, why has the stock sold off so dramatically?”. The thing is, it’s normal to be confused as in reality it does not make any sense for the average person. However, as trained market professionals we have the ability to dig deeper and apply a multi-varied analysis to a situation like that in order to find out what is really going on and if the selloff like that is not actually an opportunity in disguise. What tends to happen very often on Wall Street is – when a certain company continues to deliver better-than expected results and raises its guidance quarter after quarter, then this reaches to a point when analysts, investors, journalists, fund managers etc. become overly bullish on the stock and start placing unrealistic expectations for the future growth of the company. It’s all sunshine and rainbows until these expectations become completely detached by what’s actually possible to be accomplished by the company. At one point the positioning in the stock simply becomes heavily one-sided, and a seemingly good earnings report and/or announcement by the company can become the trigger for a massive selloff in the stock, just because it was not "good enough", even though the business is solid, the stock is attractive and the future for the company is bright. That’s exactly what we are seeing happening right now with Best Buy’s stock BBY. Following management's delivery of the report on Nov. 23, Best Buy share prices slumped immediately by more than 10% due to traders' unjustified fears that the boom times are ending for the retailer. Even if conditions for the retailer are going to shift, however, that's not likely to derail Best Buy's ability to deliver strong returns. The recent post-Q3 earnings selloff is heavily overdone and investors are unjustly punishing the stock. The business is strong. Revenues are increasing. The earnings continue to grow. The Senior Management has been outstanding in capturing the surge in online shopping and establishing a leading position in the sector. New services with a relatively high profit margin like the Best Buy Total Tech Support powered by Geek Squad are offering a unique solution to the tens of millions of people who prefer to work from home, thus opening a whole new subscription based revenue stream for the company, which is definitely going to drive the company growth for the years to come! Technical Analysis From a technical standpoint, the stock managed to break out of its 18-month sideways channel on the daily chart in early November, 2021 as a result of the great business prospects for the company and it’s strong financial performance. After breaking above the strong horizontal resistance line lying at the $121.49 level (black horizontal line), the price rallied all the way up to the $142 mark, thus setting a new all-time high and also recording a remarkable 40% rally in less than 4 weeks. The optimism in the stock reached its peak level right before the company announced its Q3 Earnings report, as it seemed that investors already knew that the stock has substantially overextended to the upside and that a correction was imminent. We saw a reversal daily candle (shooting star) on Nov. 22Nd, which confirmed the shift in the market sentiment. The crash that followed was mainly driven by one-sided positioning and over speculation by market participants. The current corrective movement has brought the stock back down at the lower end of its prior multi-month sideways channel and we expect buyers to start coming back into the stock at these levels. All three key market indicators that we use RSI, Bollinger Bands and the Stochastic oscillator are showing that the price is extremely oversold and that a normalization of price action is imminent. Our analysis shows that the stock will return back to its all-time highs of around $140 in the next 2-4 months and will potentially push higher towards the $150-175 region. This presents a tremendous opportunity for generating more than a 30% return on our investment in the company. Follow us on eToro for more detailed market analyses, profitable trading ideas and a consistent portfolio performance! Kind regards, @DowExperts
NYSE:BBYLong
by DowExperts
Another GREAT entry point on BAT for a move up to the $3 level!Basic Attention Token (BAT) Prior analysis We published our initial BULLISH analysis on BAT on Nov. 2nd when the price was sitting at $1.04 per coin. We made the call that BAT will be moving towards the $2 level before the end of the year and surely enough BAT hit its new all time high at $1.98 on November 28th less than a month later. Our followers managed to generate nearly 100% return on the trade and we received quite a lot of positive messages from them, thanking us for our insightful market analyses. Now, after the recent correction BAT is presenting another bullish price pattern, thus signaling that more gains could be expected ahead. Since our initial Take Profit levels have already been hit and the framework and narrative around the Basic Attention Token continues to improve we have raised our year-end targets for BAT as we are now targeting the $3-4 range. Fundamental Analysis From a fundamental standpoint, BAT is one of the most exciting small-cap blockchain projects out there with a remarkable long-term growth potential. This comes from the fact that while many cryptocurrencies promise big things, the Basic Attention Token is one of the few and far between blockchain based businesses that actually have the tools they need to solve a real-world problem that we are facing today. The Basic Attention Token aims to disrupt and substantially improve the filled with controversies $330 billion digital advertising industry, which many believe that is currently failing its users, publishers and advertisers. BAT has already made meaningful steps towards resolving the large number of endemic inefficiencies and privacy violations hobbling the digital ad industry as it aims to make crypto and DeFi accessible and useable for everyone. BAT has seen stunning results since its integration into the Brave browser’s first global private ad platform: 30 million monthly active users, 10 million daily active users, 1 million verified creators accepting BAT, millions of wallets created, thousands of ad campaigns with leading brands, and growing utility in the most innovative names in blockchain gaming. The results make BAT one of the most, if not the most, successful alt–coin projects to date. Furthermore, last month we received news that the largest crypto asset managing company, Grayscale Investments, has decided to double down on its bet on altcoins and has purchased additional 188,991 BAT; 8,823 LINK; and 5,121 FIL in the last 45 days. At the moment, Grayscale holds $39.634 billion worth of Bitcoin, $13.438 billion in Ether, $6 million in BAT, $9.4 million in LINK and $6.1 million worth of Filecoin. We believe that this is a great confirmation for the positive market sentiment among institutional investors, showing their confidence in the strong growth potential of the space. We see this as a huge catalyst for a major price appreciation moving forward, as it significantly strengthens the investment thesis for BAT. Technical Analysis From a technical standpoint, after the most recent price surge where the price almost doubled in a matter of just few trading sessions, rallying from the $1 level all the way up to $1.93, we are now presented with an attractive buying opportunity for BAT at around $1.59 per coin. The recent more than 18% correction came as a no surprise due to the expected heavy profit taking that took place after that near 100% rally. However, as you can see on the chart, the price structure looks very healthy as BAT is trading above all of its major moving averages 5, 20, 50 and 200 EMAs. In addition to that, we must point out that the corrective movement stopped right at the upward sloping trendline support on the 4H chart (blue line), which also coincided perfectly with the 38.2% Fibonacci Retracement on the daily chart. Both the RSI and Stochastic oscillators have also retraced from overbought conditions and are turning higher as we speak. We are also seeing another ascending triangle forming on the 4H chart, with a neckline at around $1.75. We expect the price to push through the resistance lying at $1.75 in the next 3-5 daily trading sessions. Once the break is confirmed, BAT will take off towards its next major level of around $2.50-2.75 per coin. Since BAT, is still a small-cap cryptocurrency with a total market cap of only $2.3 billion, our long-term forecast for BAT shows that it has the potential of reaching the $4-6 per coin range. From a risk-management standpoint, we will look to place our Stop Losses immediately below the 50-period EMA on the 4H chart at around $1.28 in case of a sudden price failure. However, in an event where we see BAT moving sharply lower, we will be looking to buy more of BAT at a discount as we firmly believe in the long-term growth prospects for the Basic Attention Token. Follow us on eToro for more detailed market analyses, profitable trading ideas and a consistent portfolio performance! Sincerely, Dow Experts Finance
COINBASE:BATUSDLong
by DowExperts
4
8 Trading Habits of Successful TradersConsistently profitable traders have a lot of things in common. Watching how they act and following their ideas & thoughts we can spot a lot of commonalities among them. In this post, I have collected 8 trading habits that a trader should have to become successful. 1️⃣ - Realistic Expectation & Vision Many traders, most often beginners, commonly fall for the trap of wishful thinking. When analysing the charts, they usually only view the market from one bias and only perceive price heading in one direction. And this is typically the one that their own analysis is pointing towards. However, going into each trade with a realistic expectation that the market doesn't care what you think may happen, and being prepared for a trade to go wrong will help keep you level headed. 2️⃣ - Anticipation of Different Outcomes Anything can happen in financial markets and for this reason, professional traders always justify their decisions in probabilities. They understand that 100% chances do not exist so looking at all possible probabilities before entering any trades, the trader is always ready for completely different outcomes and accepts each and every move given by the market. 3️⃣ - Emotional Stability The market is a wild beast who always wants to bite us and most of the time it manages to do that e.g. drawdowns & losing streaks... Those who trade for at least 1 year know how unpredictable and unstable the market can be. A perfectly looking trading setup can easily turn into a big losing trade. Of course, that is painful and of course with more & more losses, the anxiety will begin to chase us, the stress will overwhelm us and you may begin to start second guessing yourself. Only by remaining stable and calm, you will manage to overcome the negative periods. Learn to control your emotions, learn to take losses! 4️⃣ - Continuous Learning The markets are infinitely deep in their nature. Trading & constant monitoring of the market always unveil new, uncharted elements and things. Throughout all my years of day trading, I can't help wondering how many new things I learn each and every day. With continuous learning you evolve, you become better and it improves your trading performance & results. 5️⃣ - Flexibility & Adaptivity The markets are always changing. If you were trading before COVID crisis, I guess you feel how the reality among us shifted. With fundamental changes in our daily lives, the markets changed as well. It is hard to say what exactly has altered though, however, we all can feel it. In order to survive in a constantly changing environment we must always be adapting and never stagnant. 6️⃣ - Trade Journaling Pro traders always assess their past performance & results. They track each and every trading position that they opened. Both losing trades and winning trades require analysis and observations. Only by studying the past results the trader can improve his trading performance and evolve. Only by identifying mistakes & peculiar commonalities, the trader learns to lose less than he makes. 7️⃣ - Risk Management 90% of traders lose 90% of their funds within 90 days and under 90 trades . This is a well known statistic in the trading industry and aside from psychological factors, it mainly boils down to incorrect risk management. If you're looking to survive in this game and have a long, prosperous career in trading. You must have your risk management locked down. One beneficial risk management habit to develop is to not enter any trades unless they have a risk:reward ratio of at least 1:3+ . 8️⃣ - Trading Plan Sticking to your trading plan is one way of promoting long-term success throughout your trading journey. Undoubtedly, you will go through many psychological ups & downs, mental battles and periods of low confidence. Abiding by your own trading plan will help assist in ensuring that you don't step out of line from your own trading rules and allow you to stop yourself from developing bad habits overtime. 9️⃣ - Constant Practice Professional traders never stop, they always watch the charts, they always monitor the prices, and follow the market. Trading requires constant TRADING. Just spending one single week on a vacation without charts, you can not imagine how hard it is to return back. The trading skills must be constantly maintained.
Education
by NimmoCapital