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The 9 Rules of Successful Investors The world of investing can be a daunting place, especially for beginners . With so many factors to consider and the potential for significant losses, it can be difficult to know where to start. However, there are a few basic rules that all successful investors follow. By following these rules, you can increase your chances of success and avoid costly mistakes. 1. Be prepared to lose money. This is the first and most important rule of investing. No matter how much research you do or how experienced you are, there is always the possibility of losing money. This is why it is important to only invest money that you can afford to lose. 2. Calculate your risk before opening a trade, not during. Before you open any trade, you should always calculate your risk. This means determining how much money you are willing to lose on the trade. You should also set a stop-loss order to automatically close the trade if it reaches a certain price level. 3. Be in a cold state of mind (without the influence of emotions). Emotions can be a major enemy of successful investing. When you are trading, it is important to stay calm and rational. Do not let your emotions get the best of you, as this can lead to making bad decisions. 4. Open positions only in the direction of the trend. One of the best ways to increase your chances of success in trading is to trade in the direction of the trend. This means identifying the overall trend of the market and then trading in line with that trend. 5. Keep a trading journal with a detailed description of each trade. A trading journal is a great way to track your progress and identify areas where you can improve. In your trading journal, you should record details of each trade, such as the date, time, entry price, exit price, and profit or loss. 6. Regularly analyze your trades. Once you have a few trades under your belt, it is important to take some time to analyze them. This will help you identify what you are doing right and what you need to improve on. 7. Constantly improve yourself. The world of trading is constantly evolving, so it is important to keep up with the latest trends and strategies. There are many resources available to help you learn more about trading, such as books, websites, and courses. 8. Give yourself time to rest from trading. Trading can be a stressful activity, so it is important to give yourself time to rest and recharge. Taking breaks from trading will help you stay focused and avoid making emotional decisions. 9. Profit is only what you have taken and have in your pocket (conditionally), not what the open P&L in the position shows, because it is floating and not fixed profit. This is a reminder that profit is not real until you have taken it out of the market. Do not get too attached to your profits, as they can quickly disappear if the market moves against you. Additional Tips for Successful Investing In addition to the 9 rules listed above, there are a few other things you can do to increase your chances of success as an investor: Do your research. Before you invest in any asset, it is important to do your research and understand the risks involved. This includes understanding the asset's fundamentals, as well as the overall market conditions. Diversify your portfolio. Don't put all your eggs in one basket. By diversifying your portfolio, you can reduce your risk and increase your chances of success. Invest for the long term. The stock market is volatile in the short term, but it has historically trended upwards over the long term. By investing for the long term, you can ride out the short-term fluctuations and maximize your returns. Don't panic sell. When the market takes a downturn, it is important to stay calm and avoid panic selling. Selling when the market is down will only lock in your losses. Instead, focus on the long term and ride out the storm. By following these tips, you can increase your chances of success as an investor. However, it is important to remember that there is no guarantee of success. Even the best investors in the world lose money sometimes. The key is to learn from your mistakes and keep moving forward.
Education
by Yaroslav_Krasko
XAUUSD⚡️FOMC Minutes eyed⚡️❤️MY FOREX TEAM❤️ INFORMATION Gold price (XAU/USD) holds above $2,000 during the early Asian session on Monday. US economic data suggests inflation is stickier than expected and prompted financial markets to dial back expectations that the Federal Reserve (Fed) would start cutting interest rates in June. At press time, the gold price is trading at $2,014, gaining 0.12% on the day. 💲BUY GOLD 1980-1985 💲 SL @ 1977 TP 1 @ 1990 TP 2 @ 1998 TP 3 @ 2009 💲SELL GOLD 2027-2030 💲 SL @ 2035 TP 1 @ 2020 TP 2 @ 2010 TP 3 @ 2000 Everyone success..👍👍👍 ❤️MY FOREX TEAM - Technical Analysis Technical indicators SMA | EMA | MACD | SAR | VWAP | RSI | MARKET TREND | NEWS ❤️NOTE XAU/USD holds above $2,000, PBOC rate decision, FOMC Minutes eyed ❤️MONEY CAPITAL MANAGEMENT ⚡️ Only Trade With Risk Capital ⚡️ Cut Losses Short, Let Profits Run On ⚡️ Avoid Using Too Much Leverage ⚡️ Avoid Taking Too Much Heat ⚡️ Do Not Give in to Greed ⚡️ Take profit equal to 4-6% of your capital ⚡️ Stop lose equal to 2-3% of your capital
FOREXCOM:XAUUSDShort
by My_Forex_Team
2
AUDJPY BEARISH❤️Forex Besties❤️ INFORMATION The strong short-term decline in AUD/JPY calls into question the currently slightly bullish basic trend. A trend reversal is likely. As long as the price remains below the resistance located at 97.47 JPY, one could consider taking advantage of the short-term movement. The first bearish objective is located at 97.04 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 96.80 JPY as an objective. Crossing it would then enable sellers to target 96.41 JPY. Be careful, a return to above 97.47 JPY could jeopardize the reversal. 🔥SELL AUDJPY 97.800 - 98.900 SL @188.127 ✅TP 1 @ 97.600 ✅TP 2 @ 97.300 ✅TP 3 @ 97.100 ❤️FOREX BESTIES WEB - Technical Analysis Technical indicators SMA | EMA | MACD | SAR | VWAP | RSI | MARKET TREND | NEWS ❤️NOTE In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction. ❤️MONEY CAPITAL MANAGEMENT ⚡️ Only Trade With Risk Capital ⚡️ Cut Losses Short, Let Profits Run On ⚡️ Avoid Using Too Much Leverage ⚡️ Avoid Taking Too Much Heat ⚡️ Do Not Give in to Greed ⚡️ Take profit equal to 4-6% of your capital ⚡️ Stop lose equal to 2-3% of your capital
Short
by My_Forex_Team
Bitcoin 2024 Hilarious Insights, Halving Hurdles 18k Bold ForcasBitcoin, oh dear Bitcoin, you're in a pickle! Picture this: Feb through April 2024, three months before the Bitcoin halving, and things are getting more complicated than explaining blockchain to your grandma. The Bitcoin ETF approval in January? Well, that turned out to be about as useful as a screen door on a submarine. Instead of a price boost, we've seen Bitcoin taking a nosedive from 48k to a not-so-supportive 38500. 4HR CHART OVERVIEW: Now, let's peek at the 4-hour chart. Bitcoin buyers are tap-dancing around 42k like they're in a high-stakes dance-off. Rumor has it they want to tango with 44k, maybe even attempt a daring move to 45900. But watch out, because they might trip and fall back to 40k-39400. It's like a suspenseful dance, and if they break free from the current 4-hour chart shackles at 43900, the buyers will persist. Until then, it's a riskier dance than attempting the moonwalk in roller skates. On the sellers' side, they're lingering around like they just got front-row seats to a comedy show. Despite all the dollars poured into Bitcoin ETFs, they seem to be the ultimate party poopers, unimpressed and unyielding. If buyers can't break the 43900 barrier, it's cue the bear strike – back to 40k to 39k support, and it might get so bad that even Bitcoin buyers will need a lifeline. DAILY CHART OVERVIEW: Now, let's switch to the daily chart. Buyers are halted at 43800, contemplating life decisions after bouncing back from the 38500 support pitstop. It seems market makers on BTC ETFs are more into fees than making Bitcoin holders happy. Brace yourself for a revisit to the 40k to 39400 support range, and if buyers don't bring their A-game, it's bad news. Patience is a virtue, especially if you plan to join the support party. On the sellers' daily chart, it's a saga of indifference. If buyers lose interest and the price revisits 40k to 39400, brace for impact. Breaking below 38k could be the trigger for a sell-off extravaganza, with sellers and shorters throwing a grand party, pushing the price down to the 36600 to 34k support zone. It's like a rollercoaster, and the only way to enjoy the ride is by gripping your seat tightly. WEEKLY CHART OVERVIEW: Zooming out to the weekly chart, Bitcoin buyers seem stuck in a range, as if the market has them in a headlock. The return to 43800 was a slap in the face, signaling a potential return to 40k support and a quick smooch with 39200. While there's a glimmer of hope for buyers to take Bitcoin back to the 45k to 47k range, it's like waiting for a superhero in a rom-com – you're not sure if they'll show up. Weekly sellers, on the other hand, are circling like vultures. If buyers can't hold the price above 45k by Feb to March, sellers will seize the moment, dragging Bitcoin down to the 36600 to 34k support zone. It's like a high-stakes poker game, and the chips are on the table. MONTHLY CHART OVERVIEW: Now, onto the monthly chart, where buyers are looking indecisive. Despite the approval of BTC ETF, the price is playing hard to get, avoiding the much-anticipated 50k mark. It's the first sign of weakness since Bitcoin broke above 30k in Oct 2023. Buyers might have a shot at 45k-47400, but it's like trying to catch a unicorn – a little tricky. Sellers on the monthly chart are eyeing Feb 2024 like it owes them money. If it closes as a red candle, get ready for a 3-bar reversal extravaganza. The threat of visiting the 32k to 28k range before or after halving is looming, like a dark cloud over a picnic. And now, the grand finale – the monthly chart after Halving, sellers' edition. Brace yourself for a possible flash dump, like the grand finale of a fireworks show. Will it hit 20k, or will market makers go all-in for 14k to 12k? Nobody knows, but if you're holding Bitcoin, it's like being on a rollercoaster – hands up, eyes closed, and hoping for the best. The real pump might kick in around Oct-Nov 2024, so hang in there and buy more when you can. It's like waiting for the punchline of a long joke – it better be worth it!
BINANCE:BTCUSD.P
by MachiavelliTrader
AI Long The AI coin, recently launched, appears to be adhering closely to SMC structures. It's currently trading within robust 4-hour trendlines, showing promising signs for investors. Following a Break of Structure (BOS) to the buy side, it's now exhibiting bullish divergence across multiple timeframes, notably on the 2-hour, 3-hour, and 4-hour charts. Moreover, the coin has surged to an extreme OB level on the 4-hour timeframe, suggesting a potential for a strong buying trend to emerge. This presents an opportunity for traders to consider entering a long position, capitalizing on the momentum indicated by the bullish signals across various timeframes.
Long
by Hettiarachchi1993
TRX/USDT Trading Scenario: TRX Accumulation We are considering the scenarios of TRX development and initiating purchases of the asset. Since March 2023, the asset has demonstrated a noticeable upward trend. It surpassed the 200-day moving average level, which is a strong indicator. TRX’s price has increased by more than 120% since reaching the $0.12367 mark. This indicates significant attractiveness of the asset during this period. It is also worth noting that while the price of BTC is decreasing, this asset continues to show stable growth. This may indicate its strong position and potential for further growth, despite the overall market direction. However, given the current market scenario, there is a possibility of a correction in the price of the asset along with the overall market movement. We are considering the possibility of entering a position on the TRX correction. We plan to start accumulating a position when the price reaches around $0.10528 and consolidates above this level. If the price declines to the sloping trendline at approximately $0.09689, we might also consider adding to the position. This approach is based on the desire to enter a position at an optimal level that will support our risk management strategy and increase the potential profitability of the trade.
by Rick_SimpleSwap