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[Education] Why You Can't Break Free From Get-Rich-Quick TrapYou already know the get-rich-quick mindset is killing your trading career. You read the books. You understand that consistent profits come from proper risk management and patience. Yet somehow, you still find yourself hoping for that one trade that will change everything. I understand that feeling. I spent 5 years trapped in this cycle. Let me share something embarrassing. I was previously managing a $200,000 funded account. My strategy was making a consistent 1-2% monthly. I got greedy. I saw a "perfect" setup and decided to risk 5% instead of my usual 1%. "Just this once. This setup is different.” That one decision wiped out my profits and I lost that account in a single trade. The Psychology Behind Our Self-Sabotage Here's what makes this mindset so dangerous. We can intellectually understand it's wrong while emotionally believing we're the exception. It's like knowing fast food is unhealthy but convincing yourself that this one burger won't hurt. The truth is our brain is wired for quick rewards. Whenever we see those trading “gurus” posting screenshots of their profits, or a picture of them partying, driving sports car, and flying first class, we can sense that they are fake. However, our emotional brain lights up with possibility. "What if it's real? What if we're missing out?" This creates an internal battle in our mind. We know we should focus on consistent execution and proper risk management. We have to play the long game. But our emotional side keeps whispering, "Just one big trade. Just this once." The Hidden Influence of Social Media We're surrounded by images of instant success. Traders posting five-figure profit days. Twenty-somethings with Lamborghinis claiming they made it trading crypto. Even though we know these are likely fake or cherry-picked results, they affect us more than we realize. I remember sitting at my desk when I was in my audit job, scrolling through trading contents on Instagram during lunch breaks. Every post showed massive profits. Nobody was posting their losses, their blown accounts, or their struggles. This created an unrealistic benchmark in my mind. My 2% monthly gain felt insignificant compared to these supposed overnight millionaires. This distorted perspective leads to a dangerous form of self-sabotage. We start taking larger risks, not because our strategy dictates it, but because our normal profits feel "too small" compared to what we see online. We “need” more profits. The Compound Effect of Impatience The most insidious part of the get-rich-quick mindset isn't that it makes us take bigger risks. It's that it makes us unable to appreciate the power of compound growth. Let me show you what I mean. When I first started trading properly, I was making about 3% per month on a $10,000 account. That's $300 a month. It felt painfully slow. I kept thinking, "At this rate, it'll take forever to reach my goals." But here's what I didn't understand then. Consistent 3% monthly returns, when compounded, turn $10,000 into $43,891 in five years. In ten years, that becomes $192,577. Add in regular deposits from your salary, and the numbers become even more impressive. Instead of appreciating this mathematical certainty, we chase the fantasy of turning $10,000 into $100,000 in a month. The irony? This pursuit of faster growth usually leads to account blow-ups that set us back years. The Real Cost of "Just This Once" We all know the phrase "just this once" is trading's version of "one last drink". It's never just once. Each time we break our rules and survive, or worse, profit, we reinforce the behavior. Our brain logs it as a successful strategy, making it harder to stick to proper risk management in the future. I learned this lesson the hard way with prop firm challenges. I'd be up 5%, nearly passing the challenge, and then decide to take a larger position to "speed things up." Almost every time, this decision led to failing the challenge. What's worse, even when it worked, it reinforced bad habits that would eventually cost me more money. Breaking Free From The Cycle The solution isn't just knowing better. You already know better. The solution is building systems that make it impossible to act on these impulses. When I finally became consistent, it wasn't because I found better self-control. It was because I removed my ability to make emotional decisions. I created rules that were specific and inflexible: My position sizing is calculated before the market opens. No adjustments are allowed during trading hours. Every trade must be pre-planned with exact entry, stop loss, and target levels. No deviation from my trading plan is allowed. I only opened my trading platform during specific hours that I’m allowed to trade. These rules might seem extreme, but they protect me from myself. They make it impossible to act on those "just this once" impulses that we all feel. The Professional's Perspective Want to know what real professional trading looks like? It's boring. Mind-numbingly boring. I now manage multiple six-figure funded accounts, and most of my trading days are completely uneventful. I take 2-3 trades per week. Each risk is exactly 1% of my account. My average winner makes 2R. Some months I make 5%. Some months I make 1%. Some months I lose money. But over time, the consistency compounds. This is what trading success actually looks like. No excitement. No massive winning days to screenshot. Just steady, consistent execution of a proven process. Embracing The Slow Path The hardest part isn't learning to trade properly. It's learning to be satisfied with "boring" profits. It's learning to celebrate a 2R winner instead of feeling disappointed it wasn't 10R. It's learning to find pride in perfect execution rather than profit size. This shift requires a complete redefinition of trading success. Instead of measuring success by profit, measure it by how well you followed your rules. Instead of comparing your returns to Instagram traders, compare them to bank interest rates or index funds. The Path Forward You already know the get-rich-quick mindset is destructive. The question is: Are you ready to embrace the boring path to success? This means accepting that: Your first year of proper trading might only make you a few thousand dollars. You'll have to watch other traders post bigger profits than you (real or fake). Some days you'll do absolutely nothing but watch setups fail to materialize. Success will come so gradually you might not even notice it at first. The choice is yours: Continue fighting this battle alone, or get the support you need to finally break free.
SP:SPX
by Keeleytwj
Nightly $SPX / $SPY Predictions for 1.13.2024🔮 📅 Tue Jan 14 ⏰ 8:30am 📊 Core PPI m/m: 0.2% (prev: 0.2%) 📊 PPI m/m: 0.4% (prev: 0.4%) 📅 Wed Jan 15 ⏰ 8:30am 📊 Core CPI m/m: 0.2% (prev: 0.3%) 📊 CPI m/m: 0.3% (prev: 0.3%) 📊 CPI y/y: 2.9% (prev: 2.7%) 📊 Empire State Manufacturing Index: -0.3 (prev: 0.2%) ⏰ 10:30am 🛢️ Crude Oil Inventories: -1.0M 📅 Thu Jan 16 ⏰ 8:30am 📊 Core Retail Sales m/m: 0.5% (prev: 0.2%) 📊 Retail Sales m/m: 0.6% (prev: 0.7%) 📊 Unemployment Claims: 210K (prev: 201K) 📊 Philly Fed Manufacturing Index: -7.0 (prev: -16.4) 📅 Fri Jan 17 ⏰ 8:30am 📊 Building Permits: 1.46M (prev: 1.49M) 💡 Market Insights: 📈 GAP ABOVE HPZ: On a gap up, we will hold and run higher. 📊 OPEN WITHIN EEZ: The markets will get a few days of a bullish run. 📉 GAP BELOW HCZ: Everyone will eat up this drop; definitely look to position bullish here. #trading #stock #stockmarket #today #daytrading #swingtrading #charting #investing
SP:SPXLong
by PogChan
SP500: Has it formed or is it close to forming a floor?The first thing we need to consider is, what has the market discounted? Or rather, what has led fund managers to sell shares of the SP500? From my point of view, what fund managers think is: 1) That the US economy is strong. 2) That the labor market is stabilized. 3) And that wage growth is in line with a CPI of 3%. Therefore, they estimate that the Fed does not need to cut interest rates. BUT, we already knew this in November, and the SP500 continued to rise steadily. --> WHAT IS NEW THAT HAS CAUSED THE SP500 TO FALL? The strong APPRECIATION of the DOLLAR. This has put downward pressure on the stock markets. But what happens? The DOLLAR is reaching a ceiling area, and we could see it retreating somewhat or entering a sideways range in the coming weeks, favoring again the RISES OF THE STOCK MARKETS. --> At what point is the SP500 technically? The technical aspect of the SP500 is that it has a clear bullish trend in the medium to long term, but is currently in a correction phase. Today, on the H1 chart, we have seen the FIRST BULLISH WARNING (Bull), and therefore, we could see a bullish move at the end of today’s session and during tomorrow, which could extend if it surpasses the 5,844 area. -------------------------------------------------------- Strategy to follow: ENTRY: We will open 2 long positions if the H1 candle closes above 5,844. POSITION 1 (TP1): We close the first position in the 5,980 area (+2.35%) --> Stop Loss at 5,770 (-1.2%). POSITION 2 (TP2): We open a Trailing Stop position. --> Initial dynamic Stop Loss at (-1.2%) (coinciding with 5,770 of position 1). --> We modify the dynamic Stop Loss to (-1%) when the price reaches TP1 (5,980). SETUP CLARIFICATIONS *** How to know which 2 long positions to open? Let’s take an example: If we want to invest 2,000 euros in the stock, we divide that amount by 2, and instead of opening 1 position of 2,000, we will open 2 positions of 1,000 each. *** What is a Trailing Stop? A Trailing Stop allows a trade to continue gaining value when the market price moves in a favorable direction, but automatically closes the trade if the market price suddenly moves in an unfavorable direction by a predetermined distance. That predetermined distance is the dynamic Stop Loss. --> Example: IF the dynamic Stop Loss is at -1%, it means that if the price drops by -1%, the position will close. If the price rises, the Stop Loss also rises to maintain that -1% on the increases, thus reducing the risk until the position enters profit. In this way, very solid and stable price trends can be exploited, maximizing profits.
CAPITALCOM:US500Long
by jmesado
Calm before the storm?The first ten days of the year for the S&P 500 index were surprisingly calm and without the interest it had in other years, finding it making a sideways downward movement towards the double "cushion" of support that is presented on the weekly price chart between 5,850 and 5,740 units. An important anti-shock zone that has the ability to absorb any liquidations that come out without spoiling the indication of the medium-term upward trend. The negative element is that with the sideways stabilizing movement that the index has been making since the beginning of last November between 6,100 and 5,850 points, it has brought closer to the very heavy 200-day moving average, which has now climbed to 5,657 points or -4% from current price levels. The week that will begin is therefore important as the index will have to show us its cards with what it intends to do. Thus, a possible passage of the index below 5,800 points will raise the attention of sellers since it will give them the right to push it further towards 5,740 and 5,700 points. On the other hand, a dynamic push above 5,800 points may bring 6,000 points back into the spotlight. Analysts may now be giving higher target prices for the S&P 500 for 2025, but at the same time they are expressing some skepticism about the ability of the "Magnificent 7" to pull the chariot on the uphill road to 7,000 points. Characteristic are the "pulled" figures that give both the P/E ratio and the P/S ratio for these seven giants in relation to the average of the S&P 500. So while the index has a P/E of 28 and a P/S of 3, Tesla has a P/E of 111 (!) and a P/S of 15, Nvidia P/E:53 and P/S:29, Amazon P/E:47 and P/S:3.8, Apple P/E:41 and P/S:10, Microsoft P/E:35 and P/S:12, Meta P/E:28 and P/S:9.8 and finally Google appears with P/E:25 and P/S:7.1. Indeed, the indicators show an "overflow" in the capitalization of the "Magnificent 7", but the financial data that will begin to come out from the first quarter of 2025 may open the way for higher numbers in their share values.
OANDA:SPX500USDShort
by manthos
S&P 500 IndexThe chart displays the S&P 500 Index from the TradingView platform. It shows candlestick patterns reflecting price movements, a yellow line at the 5,927.89 level that appears to act as a resistance level, and a projection of future movement, suggesting an upward move to the resistance followed by a sharp decline. Technical Analysis and Possible Actions: Resistance Level (5,927.89): This level may serve as an area of increased selling pressure. If the index reaches this point and shows signs of reversal (e.g., a bearish candlestick pattern or weakening indicators), it could signal a selling opportunity. Action Plan: Look for confirmation to enter a short position near the resistance. Use technical indicators like RSI or MACD to check for signs of overbought conditions or momentum loss. Potential Downside Targets: Support levels seem to be around 5,904 or lower, depending on the strength of the downward move. Technical Indicators: The lower part of the chart shows indicators that may point to the strength and momentum of the current trend. Ensure they align with the expected move for confirmation.
SP:SPXShort
by tradexict
US stock indices surge into week's endUS stock index futures were firmer in early trade this morning. They were firmer in early trade yesterday morning too. But that didn’t stop them turning lower as the session progressed. Yesterday’s move saw the S&P 500 hit lows last seen on Friday, 20th December when investors were dumping stocks following the Fed’s ‘hawkish rate cut’ from the previous Wednesday. It was a similar story for all the US majors yesterday, and, to show that the sell-off was tech-led, the NASDAQ 100 fell back to levels last seen at the end of November. The lows were hit early evening European time. After that, the US indices recovered somewhat, ending the day with modest losses, although, as yesterday, the mid-cap Russell 2000 managed to creep into positive territory. Does this week’s stock market behaviour provide clues for the rest of the year? Probably not. It’s fair to say that much of the recent volatility and downside pressure comes as a result of year-end window dressing and fund rebalancing, as managers shift their weightings between equities and bonds. This became necessary due to weakness in the bond market since mid-September (ironically just after the Fed slashed rates by 50 basis points) contrasting with strength across equities going back to October 2023. So we’ll have to see how things go for the rest of this month, particularly once we get past Trump’s inauguration on 20th January. At the time of writing (just after the European close again) US stock indices are staging an impressive rally and on their highs. It’s probably too late for the S&P to complete a full ‘Santa Rally’, as that would require an upward move of over 150 points today. The yield on the 10-year is back up to 4.58% this afternoon, although equity buyers don’t seem too concerned. While elevated yields may indicate expectations of stronger economic growth, rather than simply an inflation bounce, they’re also a response to the US’s budget deficit, and the prospect of the huge Treasury issuance required to cover it.
TRADENATIONSB:US500
by TradeNation
US500 LONG US 500 Bullish!! Hey everyone! The US 500 is looking strong right now: • Momentum: We’re in a clear bullish upswing. • Indicators: CMO and CMF have both crossed, confirming money and capital inflows. RSI is above 50 on the 4-hour chart, reinforcing the bullish sentiment. • Breakout: We’ve hit a new high on the 1-hour timeframe and crossed above the 20 SMA—another positive sign. • Daily Bias: We remain above the Ichimoku Cloud, and major SMAs are pointing upward, supporting the larger bullish trend. We’ll be taking a bullish entry soon as this momentum continues. Stay tuned for the exact entry levels!
CAPITALCOM:US500Long
by EliteMarketAnalysis
S&P 500 index Wave Analysis 3 January 2025 - S&P 500 reversed from support area - Likely to rise to resistance level 6000.00 S&P 500 index today reversed up from the support area located between key support level 5855.00 (former resistance from October, which has been reversing the price from the start of November), lower daily Bollinger Band and the 61.8% Fibonacci correction of the sharp upward impulse from November. This support area was further strengthened by the support trendline of the daily up channel from September. Given the clear daily uptrend, S&P 500 index can be expected to rise to the next round resistance level 6000.00.
SP:SPXLong
by FxProGlobal
Next Big Move: Weekly GEX & Key LevelsWeekly GEX & Key Levels – Options Recap Chop Zone (5850–6055) This range is likely the short-term “parking” area for sideways price action. Expect the market to oscillate here unless a stronger directional catalyst emerges. Gamma ‘Deny Zone’ (Below 5850) Dropping below 5850 can amplify negative gamma effects, potentially fueling a stronger downside move. Watch for increased volatility and momentum if this area is breached. Gamma-Squeeze Breakout Zone (Above 6055) A break above 6055 neutralizes the call gamma wall, potentially triggering a rapid rally (gamma squeeze). Consider bullish option plays if this level is reclaimed and confirmed. Options Perspective IVRank 23.8: Moderately elevated implied volatility (~1–2% potential daily moves). Puts 87%: Significant open interest in PUT positions, especially around 5800–5900 strikes, often acting as a strong support zone. Gamma Flip (~5923): A critical pivot where market maker positioning flips, potentially creating intraday turning points. Practical Strategies Range Trading in the Chop Zone Iron condors, short strangles, or other neutral strategies. Stay alert for any breakout that can quickly move the market beyond this range. Bullish Breakout Above 6055 Consider call debit spreads or bull call spreads to capture a swift upside move. Look for a confirmed break (ideally on higher volume). Bearish Breakdown Below 5850 Hedge with protective puts or put debit spreads if you hold existing long exposure. Negative gamma could accelerate downside momentum. Summary Base Case: Likely consolidation between 5850 and 6055. Upside: Above 6055, a gamma-driven squeeze could rapidly push prices higher. Downside: Below 5850, stronger selling pressure may emerge. Manage risk according to your plan and remain vigilant for any surprise catalysts. Disclaimer: This is not investment advice. Always use proper risk management based on your own trading objectives.
SP:SPX
by TanukiTrade
4
Key Levels for the Month ∷01.2025 ∷S&P500🔳Key Levels Overview for the Month🔲 ∷01.2025 🐍 Dynamic Resistance🔀 6015 5935 Dynamic Supports🔀 ∷∷∷∷ Mid Pivot (🐻bull&bear🐂 zone ch trend) 6592 6278 5952 range of supply and demand 6383 6179 5975 Range Band 🐇 6488 6229 5969 Order of lines: 1. 🌸 Shocking Pink, 💜 Dark Orchid 2. 🟢 Green, 🔴 Red, 🟡 Yellow 3. ⬜ White 4. ❤️ Falu Red, 🌿 Crusoe, ⚫ Black 5. 🌷 Pale Pink, 🍏 Granny Apple, 🌫️ Storm Grey 6. 💙 Neon Blue
CAPITALCOM:US500
by spacecraft