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📖 STEP 5 to MASTER TRADING: Create a Checklist 📖 🟩 Checklist is the necessary and essential part of your trading plan 🟩 If you already have a trading plan - that’s really great. Now it’s time to take one step further and create a checklist. You will refer to it before each and every trade, and you’ll enter only if 100% of the checklist is present. You can have different kinds of trading plan, it can have 5 or 50 pages - and it will describe your overall approach. Unfortunately, when it comes to executing your edge in the market, it’s very easy to bend your rules “just a little bit”, and all of a sudden you find yourself taking trade that is only a distant reminder of your actual trading setup. Most traders will damage their account not because their strategy is bad but because they start to take random set up outside of their trading edge. Blowing the account usually doesn’t take more than several hours of emotional trading. So that’s why it’s essential to have a short and clear checklist, usually up to 10 sentences usually that describes, point by point, what your trade entry looks like. You can even check every point before entering a trade (I do it). Of course, with time you’ll perfectly remember that checklist, but it’s also important to honestly follow it without checking every time, and the rule-following skill itself is a separate topic. 🟩 You're trading randomly if you don't have a checklist 🟩 Think about it. How many traders are constantly looking for “something else”, one more strategy. Instead of grinding deep into some specific concept, pattern or trading system, they will run to the next one with the first normal losses. They are running on the surfice for years instead of going deep to the core of trading - which, in my opinion, is the perfection of one strategy. Sometimes they even find what they like and what starts to show some kind of results. But then some time passes, and after any kind of emotional stress (would it be euphoria after a winner or fear and anger after a loser), he can start to deviate from his rules. A beginner can be so emotional that he can enter random trades, one after another, in the course of a few hours, destroying a big part of his account. There are a lot of other issues behind such inefficient behavior, however, a checklist is one of the first steps to handling it. Because if you don’t truly know what you’re looking for at the market, you’ll take the first trade you’ll find. 🟩 "Right or wrong" mentality is a fundamental flaw 🟩 You’re only right when you’re following your rules, and you’re only wrong when you take random setups. Again: even if you have a loser but you followed your setup - you're right, and even if you have crazy profit but it was a random trade - you're wrong, because this approach is not stable long-term. Yes, traders do predict the price movements in a way, but only as a side effect of following their rules and executing their system. A trader will not be fixed on his predictions, and because he drew a box or a line, he will not expect the market to obey his colored drawings. A trader’s job is to take a setup based on his experience and testing, and he should let go of the expectations and his trade, managing on the way of course. This is a very deep question, in my opinion, and deserves a separate post later. That’s why next time when you’ll see someone asking: “Should I buy or sell sir?”, you can surely tell the person is in the very beginning of his journey. 🟩 How to create a checklist? 🟩 Take a moment and describe in the short form how does your entry look like. What are your rules for Structure, Zones of interest, what is your entry confirmation, and what is your risk and management? I like to actually checkmark every point before each of my trades, so I’m sure I’m following my plan. Here’s an example of what my checklist looks like: 🎁Bonus for everyone still reading :) If you’re struggling with any discipline issues, ask yourself a question: “If I would receive a fully funded 100k account, for free, would I start to follow my rules and would I be more disciplined than I am now, and would I start “trading the right way” at last?” Try to be honest with yourself. It may seem strange, but many novice traders think that something should happen before they will “really stick to their plan”. It could be “just one more good winner”, or “if only I had bigger capital”, or “when I finish this yet one more educational course’’ - and AFTER that I’ll do what I know I should be doing. So, if your answer to that question is yes, then this is a clear indication you’re still in a very beginner mindset. Try to realize that ANY external change will not change the way you are. You need to change yourself FIRST, the way you behave in the markets and your mindset, and then everything external will follow.
BITSTAMP:BTCUSDEducation
by Yelli_trades
19
Your mindset is EverythingYour mindset is everything. Believe it can be your reality. Unbelief will make you quickly derail this with all kinds of thoughts. If you don't believe you can ever trade 7-8 figures and more, you will never get to trade it. Question you should be asking is, does this logic work? Can I repeat this same process on any pair in the market place? That will be Intelligence in display instead. How? Manage it in a manner that does not elevate it as the Master of your house. You are the Master of your house and your house is Trading your model. If you allow a single loss to decide your continuation as a Trader or belief in your model to diminish, you are not the Master of your house... you have given that role to your loss. Where is the strength or logic in this? It escapes sound reasoning and invites defeat. More than defeat... it is surrender. You are essentially saying that your next trade has to be profitable or "else" you aren't ever going to succeed. You do not admit this at the time you enter the trade... but the leverage and mindset about the absence of a stop loss, come hell or high water you will take something out as a gain. Leaving no room to permit imperfection... and you wonder why you are stressed in the trade? The sound logic is this... "I can accept a result that is not favorable. If I follow my model, manage the risk impeccably, manage the position and take partials along the way... I will be fine. Or "else", I will need to endure needless pain and exaggerated drawdown, of which I was the sole responsible party." See the difference there? One mindset says... "I have to win or else I fail entirely" and the other recognizes the risk of not following sound Trade & Risk Management protocols and owns the responsibility. The second mindset is open to imperfection and it sees the losses as a transaction without gain... nothing more. The first mindset sees any loss as the death blow that ends their Trading career. Technicalities in the marketplace are useless without having a proper mindset. Choices... we all have them. Which mindset do you want to hold fast to in this career? Choose wisely. Your mindset is everything.
TVC:USOILEducation
by BCDtrade
what TRADER are you on weekend days?Good Day Constant Reader... I hope this day has received you well and in good health. It is Saturday... once again. This is the time to reflect on what you learned, albeit via pain or pleasure. Take experience from the enduring of your development... it will serve you well later on. It feels different at various stages of your learning. Uncertainty will be a resurfacing concern as you discover your unique model... but you can't rush it. The reason it takes more time to get it, is the individual that you are is very complex. Trading aren't complex, the letting go of unrealistic growth rates early on is the major hurdle. The more time you give yourself to develop a confidence in yourself, not me, not what I can or can't do... the better chance you stand. The submitting to at least 18 months of structured learning and practice in a simulated environment is key. This can't be overstated. Far too often... the ill-prepared Trader incorrectly assumes that trading concepts are flawed and they look past their own deficiencies. That is why 18 months is what I state is the lowest time horizon when endeavoring to learn my craft. You won't see the many opportunities your personality flaws... yes your flaws... will manifest and derail your development and delay your success. Everyone is human and prone to do it wrong... even me. However, this somehow gets overlooked by excited new Trader who want to imagine owning the world in a few weeks or months. This is neither practical or realistic. You need time to experience drawdown, periods of confusion, periods of no trading while markets are in transition states and risk is high. No educators teach like this but me. I do not sugar-coat it and say you will understand this is 3 weeks or months... because you won't. Like everything in this world, there are varying results and you get what you put into it. How many Tiger Woods are their in golf? Despite the legions of golf enthusiasts that play the game? Not every golfer will rise to Tiger's greatness but the wise understand they do not need to be like or equal to Tiger to succeed. Be content with enough and submit to an honest attempt in learning properly. so many lazy people come and when they didn't fix their personal issues, they quit. This is sad, but they were warned and instructed before and along the way... how to train, study and to expect delayed gratification. Everyone wants the six pack abs but nobody wants to exercise and remove the junk food to get them. Then the regime is slated as scam, fraud or not as described... and they chase another fad diet program. Never learning, never improving or even giving themselves the proper chance to develop. This is the revolving door of trading. The tune has not changed... it is hard to overcome yourself. No matter what snake oil salesmen tell you, there is no short cut or alternative route to getting it. No indicator, harmonic, retail - none of that removes the requirement to understanding the financial calendar year. How seasonal impacts affect these markets. How can a one week boot camp or three month program properly prepare you for that? In short... it can't. Mental baggage is real and most of us bring lots of it to the trading business. Most can't admit their own flaws or shortcomings and they never make it. They spent thousands in different courses and waste a lot of time... cheating themselves. Let's be honest Folks... Trading is easy. It is a question of three options. 1) Do I Buy "this" now? 2) Do I Sell "this" now? 3) Do I sit still right now? Trading profitably requires a model that comfortably defines what and when... for you, not everyone who sees your model, just "You". this write up belongs to my mentor ICT hopefully you find it useful also.
BINANCE:ETHUSDEducation
by BCDtrade
✍️WEEKLY QUOTE: How to be rigid and flexible at the same time?✍️ In what way does a trader have to learn how to be rigid and flexible at the same time? The answer is: We have to be rigid in our rules and flexible in our expectations 🟢We need to be rigid in our rules so that we gain a sense of self-trust that can, and will always, protect us in an environment that has few, if any, boundaries. We need to be flexible in our expectations so we can perceive, with the greatest degree of clarity and objectivity, what the market is communicating to us from its perspective. At this point, it probably goes without saying that the typical trader does just the opposite: He is flexible in his rules and rigid in his expectations. Interestingly enough, the more rigid the expectation, the more he has to either bend, violate, or break his rules in order to accommodate his unwillingness to give up what he wants in favor of what the market is offering. 🟢To eliminate the emotional risk of trading, you have to neutralize your expectations about what the market will or will not do at any given moment or in any given situation. You can do this by being willing to think from the market's perspective. Remember, the market is always communicating in probabilities. At the collective level, your edge may look perfect in every respect; but at the individual level, every trader who has the potential to act as a force on price movement can negate the positive outcome of that edge. To think in probabilities, you have to create a mental framework or mindset that is consistent with the underlying principles of a probabilistic environment. 💡 A probabilistic mindset consists of five fundamental truths.💡 1. Anything can happen. 2. You don't need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique. From Trading in the Zone, by M. Douglas ❤️Please, support this post with like and comments!❤️
OANDA:XAUUSDEducation
by Yelli_trades
4
Weekly Quote | 7 Rules of a Consistent WinnerHello trader, here's a quote from the great book "Trading in the Zone". Hope you'll find some inspiration or maybe even practical advice here. I'm a consistent winner because: 1. I objectively identify my edges. 2. I predefine the risk of every trade. 3. I completely accept risk ($ risk, risk of not being right, not being perfect, being wrong, losing money, missing out, and leaving money on the table). If not - I am willing to let go of the trade. 4. I act on my edges without reservation or hesitation. 5. I pay myself as the market makes money available to me (take partials). 6. I continually monitor my susceptibility for making errors (emotional pain or euphoria). 7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them. Best Regards, Dima
OANDA:XAGUSDEducation
by Yelli_trades
2
Hagakure : Trade Like A Samurai 🏯👺The Hagakure: The Book of The Samurai records Yamamoto Tsunetomo’s views on bushido and the warrior code of the samurai. It was written in the early 18th century and explains many principles of the Samurai warrior. Many of these same principles can be used in business, sports, trading, and investing to achieve a warrior mindset and overcome your ego and emotions along with your adversaries. Bushido Code The Bushido was a code of conduct for the Samurai consisting of 8 core principles. Righteousness Heroic Courage Benevolence & Compassion Respect Integrity Honor Duty & Loyalty Self-Control Let’s apply these same principles to success in trading and investing. Trading Like A Samurai Doing the right thing: If you have your own system, method, and process with an edge over the competition then if you follow it you should be free of guilt and regret. Knowing you are doing the right thing is a powerful psychological tactic that frees your energy and creates single-mindedness and focus of action. Confidence in yourself and your strategy : You can take immediate action to follow your strategy when you have faith in yourself and your process. Faith in action leads to less stress when facing unknown future events. Positive self talk : We must be a friend to ourself with internal self talk. Our own inner dialogue and thoughts should be positive and like that of a friend and coach not an enemy. Self respect: We must appreciate our past successes and have confidence in our path and future goals. We should never talk negatively about ourself to others. Right action and effort creates self respect, laziness and wrong action hurts it. Know yourself : Be whole and undivided in who you are and what you believe. Ensure your actions match your words and beliefs. Honor: Samurai were warriors with a sense of self worth and lived by the highest code of behavior and conduct. To abide by the principle of honor, we must acknowledge your moral responsibilities for taking actions consistent with or systems and beliefs. Doing the work consistently: We choose the method we will focus our work and effort on at the beginning of our journey. Then our path consists of executing loyally to our goals. Managing emotions, desires, and ego: The ability to use your mind and your principles to override feelings, wants, and arrogance is true power. A true samurai first defeats their self before facing any external enemy. "Study hard and all things can be accomplished. Give up, and you will amount to nothing." - Yamaoka Tesshu. Thank For Reading This, Hope You Find Something Useful In Here. Source The Hagakure : The Book Of Samurai By Yamamoto Tsunetomo ,Steve Burns.
BITSTAMP:BTCUSDEducation
by Zestiria
13
1 MINUTE OF THIS WILL SAVE 10 MINUTES OF YOUR TIME 🕒Yes, we’re talking about planning. We’ve all heard this from different “gurus”, professionals, even friends and family. “What is your plan” is one of the most frequently asked questions in the world, yet most people usually don’t have a clear answer to it. Why? Most people don’t know the technique of proper planning. Investroy is here to help clarify this basic yet vital skill. When you want your road to a better life to begin right now, planning may seem inconvenient. Getting around unfamiliar territory is much easier with a map and planning is our key here. It is important to note when we say planning in this context, we don’t only mean your trades. You have to look at the bigger picture. Why are you trading? To attain financial independence, make some extra money or maybe you just enjoy it (hmm.. we might have a psycho here). Without much talking, let’s jump right into it. First of all, “Make a list of your objectives”. Well, some of you might have heard about the SMART formula. This means that your objectives have to be: Specific, Measurable, Achievable, Relevant and Time-Bound. In simpler words, you have to know exactly what you want, you need to have means to measure the progress, they have be realistic, make sense to you and have a timeline with an end date. Secondly, “Make a strategy by breaking down your goal into manageable bits” The first step is to figure out what you want to achieve. Big ambitions, on the other hand, might be intimidating, and you may feel as if you don't know how to get there. Unfortunately, here is when a lot of people lose up. Break it down into segments now that you know where you want to end. Where do you need to be in one year if your objective is to create a profitable business in two years? Is it really six months? What about next week? Make a strategy that breaks down your aim into tiny, manageable steps. Make a list of each step and establish a deadline for completing it. Third step is to review your plan on a daily basis. Sometimes reality is different from what we have in mind, that’s fine. Make some adjustments and move along. Lastly, you MUST stay focused and have a tunnel vision regarding your plan. “Sticking” to the plan sounds easy and complicated at the same time. Personally for us, creating habits off the market (going to the gym and having a healthy routine) helps significantly with following the planning process on the markets. We truly this made you stop and think for a second and start planning now. At the end a goal without a plan is just a wish!
BITSTAMP:BTCUSDEducation
by Investroy
13
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
Current move in US30 - bear week <3Shared another idea ft. Nas100, but US30's price action has been smooth, lots of reentries, tight mitigations, low volume distributions and huge volumes at breakouts... loved this week and I'll seek to push those moves lowers through the start of this week. Has a lot of drawings, but overall everything I detailed this week in my charts, even after ZOOM trainings. Left my thought process because it's a rare picture perfect week, grateful this happens, hope everybody understands than this is attainable for anybody. I'm not special, I'm not better than anyone, because through hard work and experience you can match my results and exceed them. So just keep trying, I'm not at my highest level yet, so let's grind this mf'r out ;)
OANDA:US30USDShort
by SoulPlanesNFTs
Bitcoin by Rocket Bomb🚀💣Hello, my lovely friends! ♥️ I would like to make this post more motivational!So anyone, who looks here can understand, that he/she will succeed!💪🚀 It doesn't matter at all whether your last trade is profitable or unprofitable, the global result is important!😉 Remember, that the result depends on the correct goal in your head! 😊 And only You are the masters of your life! 🙏 In crypto I went though "Crypto? What's this?" - through "Buy high sell cheaper 🤣" also through the meme, that You see on my chart" .... and up to present day I make a lot of mistakes ...and I'm not ashamed✋🏻🤚🏻 My trading path continues, I try to develop myself everyday, every minute...I want each of you to fight ... fight with yourself!🤜🏼 Those, who have been a long time with me, know my lovely phrase sounds : <> 🔥 Now, briefly about the situation on the Bitcoin market👇On my chart you can see the distribution scheme🧐 We can expect a throwback to the levels 44 - 44-500k, then the price will drop again, continuing distribution! $34k -$32k - possible we can touch it very quickly! I'm always glad to see you in my comments for discussion😊 Thank you for your attention❤️ Stay in touch🤗 Always sincerely with you 😊 Your Rocket Bomb🚀💣 ️
BITSTAMP:BTCUSD
by RocketBomb
22
Daily Primer: Break your limits 💥In todays daily primer we talk about limitations and cause and effect. This short 5 minute video will give you the necessary guidance as to what you need to focus on to achieve the success you seek in the markets. Success in trading, just like in any other business, is a cause and effect relationship: Poor or average causes = poor or average results good causes = good results excellent causes = excellent results If you want to achieve success, do the work! (metal: have patience, discipline, resilience) (work ethic: prepare your charts, know the news, prepare your plan)
DEducation
by PrimedGroup
GBPNZD is Bearish !!!! SELL.GBPNZD is currently on a downtrend and price is currently in a zone of interest at the 61.8 % fib level. I am currently looking for a break out and retest out of my Asian box. Expecting a move around 3:30am or at 4:30am est. My chart markup was done on a 1hr. Looking for entries on the lower time frames for selling confirmation. If you like this idea or have your own opinion about this pair, please comment below box. I would love to reply. Trade at your own risk. Have A Good Trading Day!
Short
by Keymc
5 Strategy - To help you towards your long term Financial Goals!Hello Traders, Newbies & Fellow Friends! Today I decided to post this Educational & Motivational Post for Everyone to Read! I hope your Enjoy this Journey with me! Before we start! Id like to mention a few Things: Financial Freedom is Not an amount of money , Its a state of mind! Trust Your Brain, Not Your Gut - "When things are going well, people think it’s going to be springtime forever,” & “When things are dark and stormy, they think it’s going to be wintertime forever. But I’m a student of history, and it’s always cyclical." Cultivate Patience - Mastering your finances is just like mastering your mindset—it doesn’t happen overnight. It takes years, if not decades, to see a true transformation. “I think the secret to patience is knowing what your outcome is and focusing on still making progress, It’s about momentum and being a student of what works.” These five strategies can help you stay on track toward your long-term financial goals: 1. HOME in on what matters! Be strategic about the financial news that you consume. If you are trading on the Forex Market, there’s no need to check your chart every 10min. You will only drive yourself crazy. Instead, spend those 30 minutes doing something valuable like reading a book or watching a YouTube channel (Global Fx Education) about a financial strategy. “We’re drowning in information but starving for wisdom,” “The only way to stay strong and centered is to be clear on what you want to serve, stand guard at the door of your mind, and make sure you’re feeding your mind something besides Nonsense. - invest in yourself!! 2. LEARN to be comfortable with risk! Even the safest trading conditions have a level of risk—tolerating it is simply part of the game. “Risk is the secret to success,” “If you want to succeed at any level— in Forex Market, in your contribution to the world—you have to learn how to deal with this four-letter word.” Trading should be based on goals and what we’re trying to accomplish,” 3. FOCUS on what you already have! High achievers always tend to focus on self-improvement! But if you’re always focused on what’s missing, you’ll never be able to attain true happiness. 𝗖𝗵𝗮𝗻𝗴𝗲 𝘆𝗼𝘂𝗿 𝗺𝗶𝗻𝗱𝘀𝗲𝘁 to focus on what you do have: Perhaps you don’t possess enough money to travel and donate as much as you would like to charity, but you do possess enough to pay for a sizable share of your child’s college For Example. That’s big! 4. DON’T MAKE impulsive decisions. If you find yourself tempted to make rash decisions with your money, you’re not alone. “Humans aren’t really wired to be great investors; it’s just not the way we are built,” we often make decisions based on emotions or intuition rather than facts.” 5.KNOW your limits! The world’s most skilled investors didn’t make it big due to one or two lucky investments—they’ve spent their lives learning how to be the best at what they do.! Like an wise man always Told me - Rome wasn't Built in a Day, Take careful consideration in everything you do. Notes - Adjust Your Worldview With the volatility of the Stock market & Forex Market, political division across countries and unpredictability of the pandemic, it can often feel like we’re living during a terrible time in history. But a little dose of perspective can remind us that’s not necessarily the case. It’s human nature to see things with a negativity bias, But it’s important for Investors / Traders to have an optimistic outlook on the world. “If you accept that it’s a great time to be alive—life expectancy is going up, the population is growing, we’re innovating and we’re getting better every year—then that’s the kind of place where companies / Assets / Markets can thrive,” “And if they thrive, you’re going to do well as an investor / Trader.” Those who choose to view the world through an optimistic lens will prosper, Remember this - “Some people freeze to death in the winter,” while “Others learn how to snowboard and spend time with their family by a warm fire because they know winter is not forever.” Thank You All For Reading This Motivational / Educational Post! I hope it Has changed Your View / Trading Psychology For the future! I have Left my Previous Educational Posts Below! Something Great to do today - Like, Share this Post, Leave me a comment Below! Global Fx Education Stay Safe!
SAXO:XAUUSDEducation
by Global_Fx
3
USD/CAD Bullish ABCD--- Online JournalI wanted to post this chart as a reminder to myself and others of what not to do. I drew this ABCD pattern last week some time and then the pattern software picked it up later, but notice ho PA came down and tested the PRZ and the rocketed the he__ out of there. this is an example of a type 1 trade by Carney's definition. price comes in stabs the PRZ and leaves and never comes back. as a harmonic trader these trades are the nightmare for the system. Why? Because, you find yourself chasing the trade the entire time, and then you go from a 2:1, 3:1, or even 5:1 RR to a quick 1:1 or less RR just to have it retest the area to blow your stops out and move on up some more. I have done some significant damage to my account chasing these type of trades. So, this is a reminder to myself namely to DONT CHASE A TRADE. wait for the right set up. look for some consolidation or some indecision and then trade. Let the pair allow you to catch it, don't case it. The system works if I (or you if youre reading this) work it properly. Also, if there is a lot of news swirling around wait for the market to clam back down. when there is a lot of news coming out because of XYZ event the markets act irrational will blow patterns, harmonics, S&R levels, Supply/Demand levels, and etc. out of the water. The market acts irrationally in a rational manner, its a nightmare when the market acts irrational... irrationally. to my future self, this is your past self and you got this. the system works and you know it works. if you doubt yourself go back thorough our past ideas and see how well it works. if you are losing alot of trades ask if the market is acting irrationally in a rational manner or is it acting irrationally in an irrational manner? are we forcing trades? are we chasing trades? if so stop, because if not that money lost will not be there for when the right trade presents itself AGAIN later in the future when the market is acting like its normal self. If youre not me and you found this helpful great! if youre not me and found this NOT helpful...okay... so what?! ;) Happy Trading Future R.Guy and other traders!
Long
by ARegularGuy
Discipline or Motivation?💥Welcome friends!💋 What's more important to you: Discipline or Motivation? Today we'll talk about it.😊 There are two main ways to force yourself to do something: ⚡ the first, most popular, is try to motivate yourself; ⚡ the second, less popular, is to develop self - discipline. What's the difference?🧐 Motivation is based on the erroneous assumption, that a specific mental or emotional state is needed to complete a task. Discipline separates activity from moods and feelings and thus bypasses the problem. The consequences are staggering. Simply put, you don't have to wait until you'll in Olympic form to start training. No, you train to achieve this form!!!! Why discipline is more important than motivation ? IMHO🧐 Chasing motivation means, that we need to do only what we're in the mood for. The trick is to cut the connection between feelings and actions, to do right thing anyway. You will feel good and energetic afterwards. To achieve success with only motivation is the wrong way. You risk losing your enthusiasm very quickly. Since real life in the real world sometimes requires people to do things that can't always be done only with enthusiasm, sometimes willpower is needed. Motivation has a tiny shelf life and needs to be constantly updated. Motivation is not the best foundation for your normal daily activities, and it is unlikely to help you achieve long-term results. Discipline is a motor, that once started and constantly supplies energy to You. For consistent, long-term results, discipline trumps motivation. Discipline is when you do something even when you're not in your best condition. Discipline is more or less permanent, and motivation is fleeting. How to develop discipline? 🧐 You need to acquiring habits - starting with small, even micro ones, gaining momentum, using them to make further changes in daily life. THE MAIN ADVICE TO YOU: Even if it's difficult for you - fight!🔥 The hardest fight is the fight with yourself! But the victory would be so sweet💪🏻 Thanks for Your attention🙏🏻 Stay in touch🧡 Sincerely yours Rocket Bomb🚀💣
BITSTAMP:BTCUSDEducation
by RocketBomb
6