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SVXY rises on returning greed or trader confidence LONGSVXY runs inverse to UVXY- it was trending up for weeks but fell off the cliff with the VIXX spike on the fed news of the debt rating downgraded ( like the US posting an earnings miss) a 7% adjustment in almost no time. The analysis now is the red candlestick pattern is that of inside bars, a Doji then a green bar and a red. The zero-lag MACD has had a line cross under the histogram showing bullish divergence coming into that indicator. Price has come to rest for support on the one standard deviation line below the mean VWAP. From this analysis I will take a long trade targeting the POC line of the volume profile 87.5 as the final target for 66% of the trade after taking 33% off at the mean anchored vwap at 85.85 The stop loss today's pivot low of 82.85. This offers a very favorable risk to reward as trader positive sentiment recovers.
CBOE:SVXYLong
by AwesomeAvani
The Pyramid of Trading SuccessGreetings, esteemed members of the @TradingView community and all Vesties out there! The Pyramid of Trading Success is a conceptual model that outlines the fundamental principles and steps needed to achieve success in the trading world. It serves as a guiding framework for traders to build a strong foundation and gradually ascend towards becoming proficient and profitable in their endeavors. The pyramid consists of several layers, each representing a crucial aspect of trading mastery: 1. Emotional Well-being / Financial Stability / Trustworthy Broker (Base of the Pyramid) Sought-after Qualities: Self-awareness, Constructive Self-evaluation, Rational Thinking, and Objectivity. Prioritizing emotional well-being and financial stability is essential in the world of trading. Maintaining self-awareness allows you to understand your emotions and reactions, helping you make better decisions. Engaging in constructive self-evaluation enables you to learn from mistakes and improve your strategies. Rational thinking and objectivity ensure you approach trading with a clear and level-headed mindset. Additionally, choosing a trustworthy broker is crucial for the security of your funds and the overall integrity of your trading experience. 2. Robust Safety System Practice swift loss-cutting, avoid unreliable cryptocurrencies and low-quality stocks, refrain from gambling, and abandon the notion of overnight riches. Implementing a robust safety system is paramount in trading. Swift loss-cutting helps limit potential losses and protects your capital. Avoiding unreliable cryptocurrencies and low-quality stocks minimizes risk and safeguards against scams. Refraining from gambling ensures that you approach trading as a calculated investment, not a game of chance. Finally, abandoning the notion of getting rich overnight fosters a long-term and sustainable approach to achieving financial success. 3. Portfolio Management Rely on statistics and discard ineffective approaches. Monitor market trends regularly, consider long-term goals, stay informed about economic indicators. Effective portfolio management relies on a statistical approach to decision-making. By analyzing historical data and trends, you can make informed choices and discard strategies that have shown ineffective results. Regularly monitoring market trends helps you stay on top of changes and adapt your portfolio accordingly. Considering long-term goals ensures that your investment decisions align with your overall financial objectives. Staying informed about economic indicators provides valuable insights into the broader market conditions that may impact your portfolio. 4. Asset allocation Diversify your investments to spread risk. Requires years of experience in trading financial markets. Asset allocation is a key strategy to manage risk and optimize returns. Diversifying your investments across various asset classes, industries, and geographies helps reduce the impact of market fluctuations on your overall portfolio. Achieving effective asset allocation often requires years of experience in trading financial markets to gain a comprehensive understanding of different investment opportunities and their performance characteristics. 5. Tools Conduct backtesting of your strategies and consider automating your investments. Utilizing the right tools is crucial for successful trading. Backtesting allows you to test your strategies on historical data to evaluate their performance before implementing them in real-time. This helps refine your approach and increase the likelihood of success. Additionally, automating your investments can streamline the execution process, ensuring timely responses to market conditions and minimizing emotional biases. Here are simplified steps for strategy backtesting: Define strategy parameters, financial market, and chart timeframe for testing. Search for trades based on the specified strategy, market, and timeframe. Analyze price charts for entry and exit signals. Record all trades and calculate the gross return (including both winning and losing trades). Deduct commissions and trading costs from the gross return to find the net return. Compare the net return to the capital used to calculate the percentage return over the specified timeframe. 6. Remaining Focusing on the essentials covered in the first five points is critical for your success as a trader. Avoid getting distracted by other less crucial elements such as social trading or overly complex indicators. While indicators can be useful tools, it's important to remember that they are derived from basic price and volume data. Instead of searching for elusive patterns or magical chart overlays, devote your time to mastering the fundamental principles discussed earlier. This disciplined and pragmatic approach is more likely to yield tangible results in your trading journey. By following the Pyramid of Trading Success, traders can develop a comprehensive and methodical approach to trading, increasing their chances of achieving sustainable success in the dynamic and challenging world of financial markets. We would greatly appreciate your valuable feedback on our article about the Trading Pyramid. Your opinion matters to us, and your insights can help us improve our content and tailor it to better meet your needs.
INDEX:ETHUSDEducation
by Vestinda
2
Mistakes every beginner makes Starting too big One of the biggest mistakes beginner traders make is starting with too much money. They see other people making a lot of money trading, and they think they can do the same. However, trading is a very risky activity, and it is important to start small and learn the ropes before you start trading with large amounts of money. When you start with too much money, you are more likely to make emotional decisions. You may be tempted to hold onto losing positions for too long, or you may take on too much risk in an attempt to make back your losses. This can lead to large losses that can be difficult to recover from. It is important to start with a small amount of money that you are willing to lose. This will allow you to learn without putting your financial security at risk. As you gain experience and confidence, you can gradually increase the amount of money you trade. Only thinking about losses After taking a few losses, beginners often start to become risk-averse. They start to look for trades with very small stop losses, and they avoid taking trades that have a high risk of losing money. This can lead to missed opportunities and a lower overall return on investment. It is important to remember that all trades have some risk. Even the best traders in the world experience losses. However, by carefully managing your risk, you can minimize your losses and maximize your profits. One way to manage your risk is to use stop losses. A stop loss is an order that automatically closes your position at a predetermined price. This can help you to limit your losses if the market moves against you. Another way to manage your risk is to trade with a small position size. This means that you are only risking a small amount of money on each trade. This will help you to protect your capital and avoid large losses. Looking for the perfect setup No trade is ever guaranteed to be a winner. Even the best traders in the world experience losses. However, beginners often have unrealistic expectations about how often they will win. They want to find a trading strategy with a very high win rate and very low risk. However, such a strategy does not exist. All trades have some risk, and no trader can win every time. Instead of looking for the perfect setup, it is better to focus on developing a trading strategy that you are comfortable with and that has a positive expected value. This means that you are more likely to make money than you are to lose money. Using a too complex trading strategy Beginner traders often try to develop overly complex trading strategies. They think that by adding more indicators and variables to their trading system, they can increase their chances of winning. However, this is often counterproductive. A simple trading strategy is often more effective than a complex one. A complex trading strategy is more difficult to understand and follow. This can lead to mistakes and missed opportunities. Additionally, a complex trading strategy is more likely to be overfit to historical data. This means that it may not work as well in the future. If you are a beginner trader, it is best to start with a simple trading strategy. This will allow you to focus on the basics of trading and avoid making mistakes. As you gain experience, you can gradually add more complexity to your trading strategy. Trading too many times Another common mistake that beginner traders make is trading too often. They think that the more trades they make, the more money they will make. However, this is not always the case. Trading too often can lead to overtrading, which can lead to losses. Overtrading occurs when you trade too frequently, without taking the time to analyze the market and identify good trading opportunities. This can lead to bad decisions and increased losses. If you are a beginner trader, it is important to trade less often. This will allow you to focus on making good decisions and avoid overtrading. Changing trading strategies too often Beginner traders often see other traders making money with different trading strategies, and they want to try those strategies themselves. However, this is a mistake. It takes time to develop a successful trading strategy. If you keep changing your strategy, you will never give yourself a chance to become successful. If you are a beginner trader, it is important to stick with one trading strategy for a period of time. This will allow you to learn how the strategy works and how to make it profitable. Once you have found a strategy that works for you, you can then start to experiment with other strategies. By avoiding these common mistakes, beginner traders can increase their chances of success.
Education
by bijoypq
Game of probabilitiesBINANCE:BTCUSDT The proper attitude and understanding of trading principles are fundamental to achieving success in the trading world. This article is aimed at aspiring traders who want to thrive in this field. Trading is a probabilistic game , where outcomes are based on probabilities, either happening or not happening. It's crucial not to have rigid expectations or demands from the market or other participants. In the world of trading, no one owes anything to anyone, and this principle applies universally. When trading, you have the freedom to express yourself, and you can approach it in various ways. However, this freedom also reveals how humans can be irrational creatures, often struggling to control their thoughts, emotions, and actions. The key challenges faced by all traders are taking excessive risks and lacking self-control, which ultimately leads to financial losses. The feeling of missing out is a common trigger that can push traders to make unwise decisions. It begins with a sense of having missed potential profits. When observing a favorite asset's price surge, traders may start fantasizing about the potential gains and become obsessed with buying more, driven by the desire to earn even more due to a larger volume. Such emotions can lead to entering trades without proper awareness or acceptance of the potential consequences, which can be detrimental. The main point to remember is that successful trading relies on understanding probabilities, maintaining emotional discipline, and not allowing emotions to override rational decision-making. Traders should approach the market with a calm and rational mindset, following a well-defined trading plan that includes risk management strategies. By controlling emotions and adhering to systematic approaches, traders can increase their chances of success in the volatile world of trading. Reflecting on your trading journey and evaluating your achievements so far is a crucial aspect of being a successful trader. It is essential to be honest with yourself about the level of risk you are willing to take. If you realize that you are not prepared to risk everything you have, it is vital to question the impulse that drives you to consider such high-risk actions. Often, the desire to take extreme risks stems from the longing for significant life changes. However, it is crucial to fully comprehend the risks involved before making any impulsive decisions. The "filter of perception" refers to the cognitive biases that arise when traders have specific expectations of positive trade outcomes. Once you create such expectations, your consciousness may become biased, and you might unconsciously ignore information and market signals that contradict your preconceived notions. This phenomenon is akin to putting blinders on your perception, preventing you from objectively evaluating market conditions. The danger lies in holding onto false expectations throughout a trade, leading to potential losses or missed opportunities. This filter of perception can be difficult to recognize until you close a trade and look back, realizing that your expectations were not in line with reality. To overcome the dangers of expectations, it is crucial to approach trading with objectivity and discipline. Stick to a well-defined trading plan, follow your risk management strategies, and avoid making decisions based solely on emotions or impulsive desires. By doing so, you can maintain a clear perception of the market and make more informed and rational trading choices. Trading is not a suitable endeavor for everyone. It requires continuous self-improvement, emotional control, critical thinking, and strict adherence to established rules. Success in trading is not guaranteed, and it demands a level of dedication and mental fortitude that may not resonate with everyone. If you find that trading does not align with your strengths, interests, or personality, it's essential not to be disheartened. Each individual has unique talents and passions, and success can be achieved by pursuing endeavours that truly align with your inner potential and aspirations. In essence, trading is a probabilistic game, and having the right attitude is crucial. It involves making decisions based on probabilities, understanding that outcomes are uncertain, and embracing a systematic approach. Emotions should not dictate trading decisions, especially when experiencing stop losses. Instead, employing a methodical strategy with a certain success rate allows you to stay on track and eventually realize profits over time. It's important to enjoy the trading process and feel positive emotions while engaging in it. These positive emotions can help you navigate the challenges and avoid falling into the "trader's cycle," where emotional turmoil can hinder your decision-making and overall trading performance. In summary, trading requires a unique set of skills and characteristics. If trading does not resonate with you, it's okay to explore other avenues that align better with your natural inclinations. Success can be found in various fields, and the key is to focus on your true passions, continuous improvement, and leveraging your inherent strengths. System trading involves following a specific set of conditions to enter a trade. These conditions can encompass various elements, such as chart patterns, candlestick formations, indicators, and even unconventional factors like astrological dates. The crucial aspect is that the trading system has a high percentage of success (working out) and a favorable risk-reward ratio. Once you have developed your own trading system, it is vital to maintain a trade diary. In this diary, you should meticulously record the rules of your trades, including the circumstances that prompt you to enter a trade. Regularly self-testing your decisions against these predefined criteria will elevate your trading skills, leading you to become a top-tier trader and empowering you to profit from the market consistently. By adhering strictly to your trading rules, you will achieve a balanced mindset. Whether a trade results in a take profit or a stop loss, you will understand that you acted systematically and followed your predefined strategy. Recognise that the outcome of each trade is not a reflection of your worth as a trader; it is simply a consequence of adhering to your rules and facing the inherent uncertainties of the market. System trading provides a structured approach to trading that relies on predefined conditions for entering trades. Keeping a trade diary and consistently self-testing against your established rules will significantly enhance your trading capabilities. Embracing a systematic approach will help you achieve a more balanced outlook, and the ultimate goal is to achieve consistent profitability by leveraging your well-designed trading system. Fear and doubt are common emotions that can hinder a trader's decision-making and lead to destructive outcomes. It is essential to acknowledge and reject these emotions to maintain a clear and rational mindset while trading. One primary reason for fear and doubt before opening trades is the fear of risking too much capital in a single trade. Drawing an analogy to a coin toss, where tails come up 70 percent of the time, we understand that even with a high probability of success, there will still be occurrences where heads come up multiple times in a row. Similarly, in trading, there might be instances where a series of stop losses occur despite following a systematic approach. To overcome this fear, it is crucial to manage risk effectively. Traders should risk only a small percentage of their capital on a single trade, ideally one to two percent. By doing so, even if a stop loss is triggered, it will not significantly impact emotional balance or overall trading performance. The objective is to prevent falling into the "trader's cycle," where emotional reactions drive decision-making rather than a systematic approach. Before determining the optimal risk amount, traders should ask themselves what the purpose of their trading is. Is it to relentlessly increase the size of their capital at any cost, or is it to steadily grow and protect their capital? By prioritizing capital preservation and consistent growth, traders can achieve a more disciplined and sustainable approach to trading. In conclusion, managing fear and doubt is vital for successful trading. Utilising a systematic approach, managing risk, and focusing on capital preservation and growth will help traders stay emotionally balanced and make well-informed decisions in the dynamic and unpredictable world of trading. Trading frequency is an important aspect that new traders should carefully manage to avoid "overtrading" and prevent "trading burnout." The key is to exercise patience and wait for the formation of a new system setup on the chart before entering a trade. Checking the chart excessively, like every ten minutes, can lead to impulsive decisions and emotional trading, which are detrimental to a well-thought-out trading strategy. Instead, traders should define specific timeframes for entering trades, focusing on higher timeframes for more reliable signals. Higher timeframes offer a broader perspective of market movements and reduce the impact of short-term noise and volatility. When it comes to managing take profits and stop losses, consistency with the trading system is paramount. Regardless of the number of stop losses received in a row or consecutive take profits, sticking to the pre-established rules of the trading system is essential. It is crucial to avoid deviating from the system, even during challenging market conditions or moments when technical analysis may seem ineffective. Maintaining a systematic approach and being in control of emotions during trading can help traders endure a series of stop losses without significant emotional distress. A well-designed trading system should have a statistically validated edge, such as a 70% probability of working out, and a favorable risk-to-reward ratio of at least 2 to 1. With such a system, even if only 27% of trades are successful, profits can be generated over the long term. In summary, managing trading frequency and adhering to a well-defined trading system are vital for success in the trading arena. Practicing patience, controlling emotions, and maintaining a systematic approach based on statistical probabilities will help traders navigate the markets with more confidence and consistency. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
BINANCE:BTCUSDEducation
by Crypto4light
BULL-BEAR-ACUMULATION IN THE MARKETS AND INTERNAL DYNAMICS /BTCBULL-BEAR-ACUMULATION PERIODS IN THE MARKETS and INTERNAL DYNAMICS OF CRYPTO MARKET These phases follow each other, although their duration is different. In this way, cycles are formed. Bitcoin has been following a 4-year halving cycle since 2008. 4 years constitute a cycle. Within 4 years, bull-bear-accumulation processes take place. As long as people and markets exist, these cycles will always continue. There will always be new winners and losers. This is the purpose of the stock market. For success: Firstly, you need to understand what the stock market is, its structure and periods. You should know that the falls and exits will end somewhere, you should know the trends. The crypto market is still the most risky market in the world. We all know that the losses are very big as well as the gains. People who cannot take this risk should not be in this market. I will also add parts of my old articles where relevant. ACCUMULATION (IN SHORT, TRANSITION PERIOD, MATURATION OR COMMODITY ACCUMULATION ZONE) A dull, no-earnings zone for new traders, following the sharp declines in the bear period and partly in the form of a more horizontal saw. For large investors, it is the pre-bullish period, when they gather goods at low prices without making much difference to the market. Depending on the internal dynamics of the market, this period may be longer or shorter than the bear Disbelief and suckers rally periods on Wall street cheet. It is the region where most small investors fall out of the game and get the last slap. There is an intense flow of bad news in this region. Those who do not know much about the market get fed up with them. In this period, which is already horizontal and unprofitable, a lot of shaking and reverse movements are made Those who can overcome this part are now on their way to earnings. Remember, the purpose of this part is to collect your goods cheaply in order to sell them more expensively in the future. So the market does not pity anyone here. Do not expect mercy !!! The best thing to do in the accumulation zone is this: to be patient and cost as much as possible. At this point, the thought of selling and buying a little lower can lead you to a mistake. You can see this from those who sell around 16-17-18k because it will fall to 10K When you reach 25k levels, thoughts of whether I missed it, whether it will go from here, whether I should enter will tire you out Do not try to look for a bottom point. Trend bottoms, turning points can be detected more or less. For example, bitcoin has been falling since $69K. You can say that it is appropriate to cost under 20k You have the chance to create costs under 20k for about 9 months, a very sufficient time. So far we have seen $ 15.5k as the lowest point. Purchases should have been made at those levels. Will 13 come? What if it comes, what difference will it make? You're trying to get rich with the $2,000 in between, you can't. The endeavour is pointless. Also, get to know a little bit about what you are investing in. Do not jump in with gas, with a moment of excitement, just because someone said so. Give importance to past experiences. Too much experience is important in the crypto market. Did the bull come? You always hear this question. This is a process and I will try to explain this process in my own way. The bull has started from the red candle at the bottom to the next green candle. The bull period is actually a sufficient process to make money. But the feeling it leaves in people is that it is very short. Firstly, we want it to last longer, we can't get enough :) secondly, it ends quickly because we join the majority towards the end. The rise periods of altcoins are relatively shorter than bitcoin. Reasons for this; their historical past is short, many of them are cyclical (trend) In the most glamorous last periods of the Taurus period, many phenomenal expert analysts emerge. Since their numbers are higher than quality people, the number of people they interact with is also high. New entrants have no chance to make this distinction In the end, they pay for it with their money. This is the same in Turkey, the USA and Japan. Within some limits (rules), the same situation is the same even in country stock exchanges. Look at the stock market right now, you can already understand directly It is the inevitable result of an environment where money is made from money. Manipulation, speculation is a must (I am not praising, I am stating the existing situation). Fast earnings high excitement easy money environment also breeds scammers and victims. For someone to make money, large groups must lose money. Usually the big losers are uninformed new investors. In order for the last losers to win, new last comers must enter the market (new cycle). The bull period is why novices are more courageous and earn more at that stage. Because they have no previous negative experiences and they have started their transactions in a positive environment, everything is rosy Whatever you put your hand on, it's going up. So the market allows it. The person who has experienced the bear market for a long time cannot show this courage because he has been burned once. He approaches every project cautiously, does not trust easily. He is overprotective. His first aim is to protect his money, whether he realises it or not. It is not easy to get out of the psychology created by prolonged declines. This psychology may continue until the increases are finalised and the bull trend is accepted. The biggest motivation of the bull period is to lock as many people as possible at peak prices. The bear season is to buy back the goods locked at the lowest prices. That's why great news comes at the top and the worst destructive news comes at the bottom. It's infallible. Stock market bankruptcies, sinking coins. Hacking incidents, country bans, delist fury, etc. You have to wait. If you entered at the end of the bull market and you are going to continue, you have to. But by taking advantage of this wait. You don't have to learn everything. Even if you learn 2 indicators in great detail is enough. It is difficult to become a master in a short time, experience requires experience, but if you learn to use 2-3 data in the best way, your success will increase. It is not important to win in a month in a week. It is important to be able to earn and protect it in a year or two years. Consider it as investment and savings, not gambling. What needs to be done to win is plain and simple, the difficult thing is to apply them BEAR People who enter the market at the tail end of the upturn usually lose, and then spend the prolonged downturn (bear period) in a bad psychological state and move away from the market. Crowded groups come to the market when the price is at its highest, everyone is talking about the market, advertisements and good news are abundant and enthusiasm is at its peak. This period is the last stages of the rise. There is no one left to enter the market anymore At first it is not recognised that this is the top. The decline deepens over time. As the price falls, the new investor starts buying at unsuitable points in order to reduce costs. As the decline period extends, the loss grows. The belief that it will never rise again increases. What has happened has happened and the investment has melted. Depression and anger vary according to the loss. Most people leave the market at this point with great loss. Coins that they have been holding without selling since the peak, usually sell angrily at the bottom levels. Some also lose hope and interest. Because the money has fallen so much that its increase will not mean anything. Maybe you are saying this right now: I wish I had bought bitcoin at $3000 in the past. When I first entered, I wish I had bought it at $ 100. It wasn't that easy. It was not that day either. In that $ 3000 you said you would have bought, people were sinking and crying blood. It was as bad that day as it is today. I would even say that 2018 was a worse year than that. No one can promise you that the market will turn from this or that point We can make mathematical predictions with all the data we have. Although the idea that it returns from this point and I will make the purchase from there seems appropriate at first, it is an incomplete approach. Our emotions can be manipulated, but so much technical data, graphics, indicators cannot be manipulated. Read, analyse and try to trade by leaving your emotions aside. It is difficult for someone who is constantly experiencing losses to think objectively. But somewhere it is necessary to reset the mind and look from the outside. This is what must be done to win. After all, the money was somehow lost We'll draw a line in the past and look to the future. From now on, you will think that you are starting from scratch with the money you have left, you will adjust your psychology in this way. Past mistakes will only remain as a lesson. Especially near the bottom, the number of people who say that there is much lower increases considerably. Because trust has been lost. The investor cannot think without being affected by the market. (As it will go further as it rises, it will go further as it falls). It is difficult to overcome once you lose and get out of this psychology. Emotions come into play. You can be a prisoner of ambition and anger Bottom points have to be like this. Old excitements and targets are forgotten. despair and apathy take over the small investor (us). The 10x 100x's said at the top are replaced one by one by targets lower than the level we are at. What you see around you right now. Have you ever heard of targets like 12k- 9k- 7.5k last year? At least I didn't hear from anyone when I was over 45k. The markets we need to examine are not just altcoins and even btc. past data will be light ahead of us. what I mean by the past, world stock markets. especially nasdaq, dow, dax, nikkei should be examined. Let's go back to emotions. I see this a lot in the market, there are those who talk about coins with enthusiasm and those who hate coins. These are inanimate beings, do not approach with hate or love. Losing from a coin is bad, winning does not make it good. #altcoin Or the fact that a coin has not increased for a long time does not mean that it will definitely not increase in the future. There is no certainty at this point. Yes, it may be a finished project or it may just be waiting for its time to come. We stay away from positive or negative certain judgements. Flexibility gives you an advantage. Now let's see how many days the rise and fall periods lasted between 2009-2023 in btc. As I mentioned before, there is never innocence in the stock market and making money from money. The market is never free. "But this time it's different" has been said by every person in every period. And it has always failed. People who have experience in the markets for a long time know this very well. Each period creates its own special conditions. But the result has never changed. At some point, the market ends its decline and starts its new cycle. With new rises, the bad news is immediately forgotten. The loser loses and the market continues on its way. The market is never innocent. There is no emotion. There are always winners and losers. It will be the same in the future. Well, I told so many negative things. Is it so hard to win, does everyone have to lose? No, my purpose in telling you these things is not for you to despair. You need to know what you are in for and you need to understand the rules of the game. Certain rules for winning. There are multiple ways of earning. But not for everyone -Swing -Margin (pro) -Lie down for a long time -News orientated trade I do not do margin trading (I do not recommend it to anyone who is not a professional). I can say that I am a trend follower. I come to the market at the bottom areas, create an average cost, and slowly sell and exit at the top where the hype is experienced. In most of the BTC and total marketcap charts, I show buying and selling points in the long term. I never try to buy from one place and sell from one point. I know this is futile. I aim to increase the amount of coins I have in the trend by cross trading with each other or with usd. I am never in a hurry. I know what my goals are. I also leave flexibility to positive and negative extremes. The rest is only a matter of time. I create more than one option for myself so that I do not remain empty-handed in case some possibilities do not materialise. Remember, making money from Bitcoin is becoming increasingly difficult, the profit rate is decreasing, it is becoming more stable. When we examine the old btc movements and structures; while exhibiting simple and relatively more predictable movements, As time passes, these structures become complex and difficult to predict in the short term. Also, do not buy coins because no one says so, do not enter the transaction Know why you do what you do and be aware of the consequences. These may sound like clichés, but these are the facts. Words like 50x-100x may sound very attractive to you, but no one is a magician. No one has a secret 100x information. These are things that are put forward to attract attention for interaction. Of course, there will be coins that will make 100x, but you can't hear them from somewhere by chance. Finding a coin with 100x potential is only possible with very good fundamental analysis. And it takes a lot of patience to get it. In the past, many beautiful projects have done such xs. And this business is becoming increasingly difficult. There are always tips in both the stock market and the crypto market. And most of them are born and spread as a result of speculation. You can't make sustainable profits on tips. Listen, but don't plan on tips (as in don't believe in fortune telling but don't do without fortune telling) Stock investment is not a match where every shot is a goal. You don't need to hit every ball. You can be patient and bide your time. -Warren Buffet Do not deify anyone in this market. You should get the information you need and move on. The story starts like this: Too many people are following this person, so if I'm in the market, I might as well listen to them. #btc #btc I almost don't know anyone in the stock market who doesn't follow someone on social media. Everyone's path is definitely falling. ''The general public has no idea what is going on, and is even unaware that it has no idea." Noam Chomsky. We can definitely use this word for the crypto market. PSYCHOLOGY Prices and indicators are not the same for everyone. I mean this; we look at the same chart at the same time and think different things. This is because of the positive and negative experiences of those people. Seeing the bitcoin chart below 20k, some see it as an opportunity and some see it as a great destruction. The same way that the price below the 200-week average in btc is a great opportunity for some and a fear indicator for others. If the person is not suitable to understand this, you cannot convince even if you present 10 evidence. Price movement should not be looked at as a belief, it is mathematics. sooner or later, whatever the target is, it will be realised. Since prices do not move according to people's feelings, those who are disbelief at the beginning of the bull and overconfident when the trend ends lose. Your emotions will only mislead you in this market. you have to be a robot. when buying a coin, remember this: you should do good technical and fundamental analysis. you should calculate not only cost but also time. Why did you buy that coin? I don't know, he said, he said buy it, so I bought it, it fell. I couldn't sell it. There can be no gain in this way. At least from your point of view =) In this market, luck laughs at you very little. Everything else is knowledge, experience + patience. NEWS Sometimes news is also used when the time comes to change the direction of movement. For sharp turns and sudden price increases, it is necessary to give people big news to talk about. Sudden drops and exits without a reason cause the system to be questioned and undermine confidence for no reason. But if people believe in a reason, the game continues. In other words, if people can make sense of the stake, there is no problem for the market maker. People want to hear something. The media is ready there immediately. Why it fell: this and that happened, that's why it fell. Most of the time it's not even relevant. The mainstream media never talks about the facts, what is going on behind the scenes, technical analysis, things that are useful for us. At the lows, bad news is pumped in to discourage you even more, and at the peaks, good news is pumped in to attract more new investors and to lock up goods from the top. This is how the market is managed by media power. Paris hilton's laser eye, then it turned into a trend. harry potter author tweeting about btc. Elon musk-tesla Elon-doge Celebrities suddenly becoming bitcoiners and sharing it on the internet Look at BTC trend analyses on Google, how similar the charts are! Remember, the stock market is not just an investment. It is a kind of struggle to make money. The crypto market is literally a stock market. In fact, according to me, it is the most difficult stock exchange in the world. There are no prohibitive rules for those who want to take your money from your hands. No one pities you. They take your money without seeing and recognising you. -Who can't win in the bullfight. Those who hurry too much in profit those who enter pump-dump organisations from the top Those who say that they can't go and constantly change coins and miss what they have Those who tie all their money to a coin Those buried in more altcoins than they can manage Those who are constantly chasing signals left and right, waiting for tips from fake masters they do not know in paid private groups. Those who consume all their money in scams while chasing gem. In addition, those who cannot take risks, very stressful and cowardly investment, those who drown in detail cannot win (or win little) in the bull. Those who do not take adequate precautions in security and are hacked. That's all for now. Thank you.
Education
by Cryptollica
2
🧠 THE CYCLE OF MARKET EMOTIONS📍 When starting a trading career, much emphasis is placed on trading strategies, technical analysis, and indicators, which is important. However, as traders gain experience, they may discover that analysis and strategy become more intuitive as they find their specialization in the market. On the contrary, trading psychology often demands significant effort from most traders. It is often overlooked that trading psychology is developed through practice. Some argue that simulated trading lacks realism and cannot adequately prepare traders for the emotional aspects of trading. However, this holds true only if traders have not yet learned to trust a tested strategy. The market emotions run the gamut from fear, despair, hope, anxiety, and even euphoria. It is so common to experience these emotions that you can actually expect them to occur in a predictable cycle. We call it the market of emotional cycle. 📌 Think of it this way: we all start out with optimism – optimism that we are going to make lots of money in the market. Over time we may have trades go in our favor and make lots of money. However, if we aren’t in tune with the normal price cycle of the market, we can ride our profits all the way back down, leading us to despair. The goal, of course, is to become a trader who learns to manage his emotions and make wise decisions. Instead of hope and fear and greed, become a process-oriented trader who can trust his judgment on the market. In the upcoming TV ideas, we will make a deep dive on each parts that effect the trader's psychology and why it does so. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
Stock Market Logic Series #5We are going to discuss the concept of FAIR price and how it is related to momentum. This is also a missing piece of the puzzle related to the guppy moving averages. Which never explains the logic of fair price behind the moving averages. Just saying "traders are selling" or "investors are buying" without giving you the psychology behind the buying and selling. The psychology behind buying and selling: When you want something, you are willing to pay a premium on it, just to get it. When you don't want something, you are willing to give a discount on it, just to get rid of it. The Significance of Moving Averages in Stock Market Trading In stock market trading, moving averages play a significant role in determining the fair price of a stock. Fast moving averages represent the short-term fair price, while slow moving averages indicate the long-term fair price. These moving averages serve as important indicators for traders, helping them understand the price trends and make informed decisions. Trading Above the Fair Price: Strong Buyer Interest When trading is above the fair price, it signifies that buyers are highly interested in acquiring the stock, even if it means paying above the fair price. This increased buying pressure drives the price up, as individuals value the stock and are willing to pay a premium to secure it. This scenario presents an opportunity for traders to benefit from price appreciation. Go with momentum. Buying Opportunities: Trading Below the Moving Average Conversely, when the price of a stock falls below the moving average, it indicates a potential opportunity for investor buyers. In this situation, the previous owner of the stock may become anxious to sell and is willing to do so at a price below the fair value. This creates a favorable buying opportunity for investors, as the stock can be acquired at a discount or fair price. Trading Below the Fair Price: Anxious Sellers and Discounted Stocks Trading below the fair price implies that the old buyer is motivated to sell the stock quickly. They may be eager to get rid of their position, leading them to offer the stock at a price lower than its fair value. For trading purposes, this means momentum is down, and you should look for an opportunity to sell. If the price is dramatically traded below the fair price (away from MA) this could FLAG you that a trend reversal may just happens. Remember the psychology of buying and selling. Ask yourself, if someone wants it, how come this price is so cheap? Unfair Prices in a Downtrend: Waiting for Confirmation of a Decline Moreover, when you are in a downtrend, when the price is above the moving average, it indicates that the stock is trading at an unfair price. However, if you have insights or analysis suggesting that the price will decline in the future, it may be wise to wait for the short-term trend to shift. By observing the stock's movement and waiting for the price to fall below the yellow fair price (moving average), traders can confirm that selling is indeed happening before making their move. Getting in too early, with the wrong trading technique, will get you hurt. Assessing Market Conditions: Understanding Fair Prices and Moving Averages By understanding the dynamics of fair prices and their relationship with moving averages, traders can better assess market conditions. They can identify when prices deviate from their fair value and use this knowledge to their advantage. This insight allows traders to make informed decisions based on price trends, helping them maximize potential profits and minimize risks. Comprehensive Research: Beyond Fair Prices and Moving Averages If you could couple of other factors that support your view of FAIR price. You can consider various factors such as company fundamentals, industry trends, and market sentiment to complement your understanding of fair prices and moving averages. Enhancing Trading Strategies: Incorporating Technical Indicators In addition to fair prices and moving averages, traders should also consider other technical indicators and tools to enhance their trading strategies. These may include volume analysis, trend lines, support and resistance levels, and oscillators. By incorporating multiple indicators, you can gain deeper insights into market movements and improve your ability to identify profitable opportunities. Adapting to Market Dynamics: Continuous Learning in Stock Market Trading Understanding the concept of fair prices in relation to moving averages is just one piece of the puzzle. Successful traders continually adapt and refine their strategies based on market conditions, new information, and evolving trends. By staying informed, conducting a thorough analysis, and employing sound trading principles, you can increase your chances of success in the stock market. Hope this helps you, follow for more. Like this post to save it to your ideas for future reference, so you will not forget this principle.
SP:SPXEducation
by ZoharCho
1
Bitcoin is Consolidating Upwards ₿Bitcoin is slowly probing into higher prices testing short liquidity and accumulating orders in view. After a 25% pump last week or 2 weeks ago whenever I would've liked to see Sellers take over already. Instead these " High prices" maintain and price sustains itself. Price is creating Higher Lows and is what should be anticipated in an increasing market. My thoughts are that we may see an increase in BTC early in the month here and a consequential pullback later in the month. The Level's I've drawn up will be the most relevant throughout the first half of this month.
COINBASE:BTCUSDLong
by ShrewdCatfx
5
Finding Balance as a Forex Trader and Nurturing Your FamilyDo you ever feel like your life is a constant juggling act? As a 33-year-old female, I understand the challenges of maintaining balance between trading forex and taking care of a family. It's a question I often get asked: "How do you create balance in your life while pursuing your passion for forex trading?" Today, I want to share some insights that may resonate with you and help you find that much-needed equilibrium. You may already live a well-balanced life more than you know. Think about your daily routine: waking up, preparing for work, spending time with your loved ones, and getting some well-deserved "me" time. These tasks may seem simple, but they contribute to the overall balance of your life. The key is to recognize that this balance is not set in stone and can be adapted to accommodate new endeavors. However, when you decided to become a forex trader, your life may have shifted from being balanced to unbalanced, causing confusion and chaos. There are three primary reasons for this shift: Learning a new skill: Forex trading is a skill that requires time and dedication to master. It's natural to feel overwhelmed when you're navigating unfamiliar territory. No guaranteed income: Unlike a traditional job, forex trading doesn't come with a fixed paycheck. The uncertainty surrounding your earnings can add stress to your life. The need for guidance: When you had a boss, coworkers, teachers, or family members supporting you, you had clear instructions and a sense of direction. Without this guidance, you might feel lost and uncertain about your trading journey. The secret to restoring balance lies in seeking help, asking for guidance, and implementing the knowledge you gain. By doing so, you create a path towards balance that supports your growth as a trader and as an individual. So, what does balance as a trader look like? It's about integrating trading into your daily or weekly routine in a way that aligns with your energy levels and priorities. Find your passion peak hours, the times of the day when you feel most aware and energized. This is when you should dedicate time to learning and trading. On the other hand, avoid trading or learning during your low energy times, as it can throw off your balance and hinder your performance. Remember, trading should become a simple addition to your life, not a burdensome chore. It's crucial to find a pace that suits you. For some traders, placing 1-3 trades a week is sufficient. And it's perfectly okay if there are weeks when you don't make any trades at all. Embrace the concept of making money doing the bare minimum in trading. We're fortunate to have technology that allows us to achieve significant results without the need for countless trades. Imagine the satisfaction of making substantial profits with just a few minutes of work. This is the kind of mindset that can make trading an invaluable addition to your life. It's worth the effort to learn and master this skill. To integrate trading into your already balanced life, follow these steps: Visualize the addition: Imagine how trading will fit into your routine and how it will complement your current lifestyle. Determine your trading frequency: Decide on the number of trades you want to place and visualize yourself executing those trades confidently. Embrace the highs and lows: Picture yourself experiencing the emotions that come with making or losing money. Reflect on how often you want to feel those emotions. Take action: Now that you have a clear vision, it's time to take concrete steps towards making it a reality. Implement your plan and adapt as necessary. Finding balance takes time, and it's important to be patient with yourself. Give trading at least 1-3 years to see true growth. The first year is for learning and establishing a foundation. The second year is about building repetition and consistency. By the third year, you'll be ready to implement and evolve your trading strategy further. Throughout each year, document your journey through notes and videos, and share your experiences with others. Your story can inspire and encourage those who are on a similar path. Remember, blessings come to those who persist and inspire others. Share your journey, even when you're not yet where you want to be. Your insights and encouragement can make a significant impact on someone else's life. Wishing you many blessings on your journey, SHAQUAN
by ShaquanLopez
2
The Best Odds within a Consolidated MarketEvery pattern of the market has precise areas where the probabilities can play in the most favorable way for you, if you trust the pattern (until it expires). Of course, we trust patterns... that's what we do: we drink and trust patterns . This example on the XRPUSDT pair is a good example of this. As a day trader (or a FTT trader), your hope here would be to catch a meaningful impulse, a long movement of the price that could give you profits. If you want that, where would you place your entry? The basic knowledge tells about "zones", but all zones are not equally safe and important in every pattern. For example, we know that the average zone in a consolidated market (the midrange between its resistance and support) is important... but is it safe? Let's think about it: By definition, an established market that goes sideways is bouncing between its resistance and support zones. It also tends to bounce against the midrange, of course (or, at least, it tends to struggle in that place); but normally you would expect the price to break the middle of the channel in order to reach its margins. Why? Because that's the very nature of the pattern! Duh! If the price surpass the midrange, the pattern stays vigorous, healthy and reliable. But what happens if the price exceeds markedly the channel's resistance or support? That would be an apparent or definitive breakout of such pattern... its closure: There's no trustable pattern anymore and you must be careful because your previous analysis now belongs to the past. This reflection is meant to warn you about one of the common mistakes we commit –perhaps because of the nature (a fault?) of our system or because of our unwise decisions–: Not waiting for the price to come up to the best spot for our entry. Not being selective enough when deciding the best settings of the market. In my series about trading psychology I expect to delve more into this attitude of not caring too much about our best chances, which is a way of not protecting our capital –although there is also a problem in caring too much , to the point of inertia–. But, for now, let's just reflect about the significant disadvantage of placing our bets into forecasts that objectively lack the best odds within a known pattern! Surely those are not the most educated bets we are capable of... and a profitable trader is person who makes educated bets.
Education
by adleriantrader
2
A Profitable State of ConsciousnessA daring trader prepares for the epic battle he performs each day against the evil markets; those remorseless monsters who always seem hungry for money and ready to strip the poor traders of their modest capitals. Armed with his analysis, our brave trader steps into the dangerous mercantile ground and eagerly studies the sharp and treacherous price spikes, waiting for the exact moment to slay the bears and bulls that guard his beloved treasure. Just like yesterday, his adventure drains all his strength. It is the inevitable result of a turmoil of excitement and disappointment, which alternate along with his successes and failures. Elliot's uncertain waves control his emotions as much as the price; but our heroic trader, intoxicated with this cocktail of cortisol and epinephrine (stress hormones), cannot see how his mood is enslaved by the price flux. I decided to launch this series of psychological articles, as I think many trading professionals could greatly appreciate the opportunity to break these subjective patterns that prevent our minds from any clarity, calmness or wisdom when facing the markets. Attachment, blindness and madness If our emotional variability is directly dependent on the market tides, always dragged by our fallible expectations, we must realize that our minds are not working as the best tools we have to get the desired results. In fact, such mind has become our worst enemy and its chaos will lead us to a financial catastrophe. The essential hallmark of such state of mind is an absolute inability to stay detached, to maintain an honest view that distinguishes between our analysis of the market and the hopes we place upon it. Our minds become so subjected to the expectations of favorable outcomes that soon we see nothing more than the drama of our desires confronted with the price action. Trading profitably in any market requires clarity of vision —which is not omniscience—; lucidity to make good, responsible, sound and clever decisions. To risk less or more, to hold our position or to avoid further losses, to await a bigger profit or to settle for a humble one; these are everyday dilemmas that demand our highest degree of gravity and intelligence. But it is unreachable if our relationship with the market is just a stormy marriage. We have all witnessed or suffered the curse of emotional dependency in interpersonal relationships. Our hopes on the relationship and the beloved one weigh so much that soon we get blinded, completely unable to identify the true nature of our bond with the other. We don't understand what happens because we don't really want to. We prioritize our hopes and despise the truth because we fear that it won't indulge our desires. That's the same whimsical stance that damages our trading system and blinds us every day to the market's risks and opportunities. Pretty much like in a conjugal hell, this blindness comes from our disdain for the real thing and turns us into bitter warriors , challengers of a market where our role should be different: the role of analysts, researchers, observers... sages . Our financial belligerence is the reflection of our contempt against reality. But just as we despise objective truth, it correspondingly despises our whims. In the ancient symbology of Tarot there is a card that portrays accurately this typical mindset of an immature trader: The Fool —sometimes called “The Madman”—. It's the only card without number (it represents the zero) because it symbolizes the vagueness, the lack of values, the nothingness. Nevertheless this vacuity could be as well the beginning of everything... the starting point for a satisfactory future —because there lies a limitless potential. In order for this naive and dreamy wanderer to reach a good fate —in spite of his disorientation— he must first become aware of the wisdom he carries (unknowingly) in his bag, and he must commit to it. Otherwise, this poor dreamer will only continue to move merrily toward the abyss in front of him (because of his blindness). A madman is someone who persistently rejects his reality. Sadly, we all do that whenever we operate greedily in the markets, pretending that our dreams are more vital than the facts that must be studied and understood. Our anxiety is just the symptom of an awful state of mind that drives us merrily onward to the abyss. A venture of honesty Profitable trading is a luxury of the sober, even if others may enjoy some exciting strokes of luck in their intoxication —the same way they suffer strokes of bad luck—. The state of consciousness we need for consistent profitability contains virtues like patience, foresight, common sense and a mature kind of boldness that invites us to welcome calculated risks, admitting always in advance the possibility of losses. The foundation of this mindset is a radical, absolute, merciless honesty. We cannot deceive ourselves or dodge the essential questions if we really want to nurture a state of mind that moves us to a relative stability within the financial mayhem of the world. First and foremost, our stability is mental; then it gives rise, as a consequence, to the possibility —not the promise— of financial stability. Therefore, in psychological terms, the first step towards profitability in trading implies assessing (introspectively) whether we have to any degree these psychological traits that are undeniable signs of emotional maturity. How honest I tend to be with myself in my daily life? Am I distinguished by my patience and sound reasoning? Am I wisely cautious or just a coward? When I reveal bravery... is it just an impulsive recklessness or, instead, the self-confidence of knowing what I am facing and the maturity of responsibly exposing myself to that? If we don't possess these qualities in our ordinary life, it's useless to force their emergence when we operate in the markets. We have them or we don't. However much he fakes gravity, sooner or later the fool gets tired of his theater and starts breaking the plates, behaving in accordance with his true feelings. Psychic repression is not a real solution. However, if we acknowledge our lack of the necessary virtues, we are practicing already the most critical of them: honesty. It's the starting point for everything, the limitless potential always available to us —as long as we use the wisdom contained in our bag When we allow dreams of wealth to invade our minds, we don't care anymore about the practical managing of our opportunities. But trading may be a incentive to cultivate the psychological conditions we need in every area of our lives, in order to dissolve the dangerous infantilizing effect of our (unchecked) desires . If the first step is to examine ourselves, the second is to acknowledge our shortcomings: Maybe I am courageous, but I don't measure the consequences of my acts. Maybe I am patient, but not enough. Every psychic weakness is a source of future frustrations, because it always overrides the decisive factor of profitability: our lucidity. We work with uncertainties and probabilities. Those are the raw materials of our craft. That's why it's paramount to have a clean vision for our decisions: a sober and factual sight, protected against our own desires. We know, in our statistical adventure, that such sight cannot ensure the ultimate success; but it does ensure the optimum performance of our human faculties... that is already a great edge. In the worst case —in the case of losses— a clear advantage always arises from cultivating our emotional maturity: spiritual fortitude . We'll always be strong enough to accept losses (even the worst ones) with relative inner peace. In fact, we would always accept that possible outcome before it occurs. We won't be like those who fall from the heights following the crash of their dreams; because our dreams don't belong to mythic heights but here, within our hands... small and practical; comprehensible, manageable, human and fallible —just like us. ____ In next articles, we'll delve deeper into these psychological dynamics that strengthen or hinder the clarity of our judgment, and we'll explore practical proposals (mainly based on the Adlerian philosophy) that could help us reach a profitable state of consciousness.
Education
by adleriantrader
Power of Psychology TradingIn the dynamic world of trading, it is widely acknowledged that strategy and market knowledge are essential for success. However, there is a critical aspect that often goes unnoticed but holds immense power in shaping trading outcomes: the psychological dimension. The psychological aspect of trading encompasses understanding and effectively managing emotions, biases, and mental states that can significantly impact trading decisions. Neglecting this facet can lead to costly mistakes driven by emotional decision-making, such as panic selling during market dips or clinging onto losing trades fueled by hope or fear. Thus, it is crucial to cultivate a clear and disciplined mindset to achieve more profitable and consistent trading outcomes. This tutorial aims to delve into the psychological landscape of trading, offering invaluable insights and practical tips to help you master your mind and, consequently, conquer the market. Common Psychological Traps in Trading Traders frequently fall into various psychological traps that can severely undermine their trading performance. One such trap is overconfidence. After experiencing a string of successful trades, it becomes easy to develop an invincible mindset, leading to riskier behaviors and impulsive decisions. Fear and greed are two emotions that often dictate trading decisions. They serve as key drivers behind market trends but, if not managed properly, can result in significant financial losses. The fear of missing out (FOMO) can drive traders into hasty, poorly thought-out trades, while greed can create a reluctance to sell even when all signs point to a market downturn. Another common psychological pitfall is anchoring. This occurs when traders become fixated on specific price points or values, distorting their perception of a security's true worth and hindering rational decision-making. Understanding Your Trading Emotions To effectively manage your trading emotions, it is essential to first understand them. One practical approach is to maintain a trading journal. In addition to recording your trades and their outcomes, this journal should document your emotions and thoughts at the time of each trade. Over time, patterns may emerge, revealing how your emotions influence your trading decisions. Another crucial factor is knowing your risk tolerance. Each trader possesses a unique level of comfort when it comes to taking risks, and comprehending this can significantly shape your trading strategy. A risk-averse trader might prefer more stable assets, while a risk-tolerant trader may be comfortable with higher volatility. Strategies for Managing Trading Emotions Being in the right mental state before engaging in trading is paramount. Developing a pre-trade routine that helps you calm down and focus can prepare you for the trading day ahead. This routine could include activities such as meditation, exercise, or reviewing the latest market news and your trading plan for the day. Having a clear trading plan also provides a solid foundation for managing your emotions. This plan should outline your strategy, encompassing risk management tactics, potential entry and exit points, and your objectives for each trade. It serves as a roadmap, grounding you when market volatility triggers emotional responses. Additionally, learning stress management techniques can be invaluable in the trading arena, often laden with stress. Taking regular breaks, practicing deep breathing exercises, and maintaining a balanced lifestyle outside of trading can help maintain your mental equilibrium. Conclusion and Further Reading Trading psychology is a vast and intricate field, but understanding its fundamental principles can profoundly enhance your trading performance. By familiarizing yourself with common psychological traps, comprehending your own emotions and risk tolerance, and employing effective strategies to manage your trading emotions, you can make more informed and profitable trading decisions. Continuous learning and emotional self-awareness are key to successful trading. There are numerous resources available for those who wish to delve deeper into trading psychology, risk management, and market analysis. While the journey to master your trading psychology may present challenges, the potential rewards - improved trading outcomes and personal growth - far outweigh the effort invested.
NASDAQ:NVDA
by A1TradingHub
Ninja Talks EP 26: Shocking Success Revelation of a Feline Earlier this morn, I was perched upright on my cozy outdoor chair in my garden enjoying a well earned Cuban. With the sun kissing my skin and the great release of energy I felt with every exhale of my cigar I was content, lost in thought, happy - still, but then to my surprise I was startled by a subtle movement off to my left on the bright green grass I cut days prior.  It was my Persian cat Leo, the feline was in hunt mode, completely oblivious to my onlooking observations, but it didn't matter he was zen.  Even though the sun was shining bright white there was a slight breeze that would brush the also bright white fur of Leo, rustle the trees and cascade noisy dried up leaves down the path - he was aware of it all, ears twitching and eyes wide, he missed nothing but, he was looking for a target and by golly he saw one down in the foot of a tree 6ft away from him. A Robin red breast collecting dried plant matter to blanket its young back at the nest. The Persian nustled down deep into the ground, making itself a flat fluffy invisible killing machine - as the Robin danced just outside of reach Leo didn't move, completely still, not even for an instant showing his intention. After a quick back and fourth of daring bravery on one hand and simple cunning on the other the Robin flew off, to which Leo - not at all dejected or defeated - reset, raising his body higher, leaving hunt mode and entering back into listening mode. This is an elite level trader personified. Silent. Ready. Prepared.  When the trade is close (just like the Robin), but it does not qualify totally and completely to your strategy, you do not pounce, you wait. Make sense? You stop. Reset. And start the hunt again. The hunt is what's enjoyable, not necessarily the prize. Think about that the next time you "see the Robin" in your own trading. Ninja out. Follow for more Ninja Talks.
AMEX:SPYEducation
by NinjaTradingServices
FrogAlgo: Not profitable trader before!I made a huge mistake when I first started trading – I jumped from one strategy to another, constantly searching for the "holy grail." I tried everything from signals and account management to mentorships and expert advisors. Each approach seemed profitable initially, but as soon as I invested more capital, I encountered significant losses. It was a frustrating and costly experience. I realized that I was being emotional in my trading, driven by greed and fear. I would see others boasting about their consistent high returns on social media, and I wanted to replicate their success. But deep down, I knew that if they truly had a winning strategy, they wouldn't be selling courses or mentorships for a small fee. They would be working with large institutional players and making substantial profits. The key realization was the importance of having a trading plan. Without a plan, I was going in circles, constantly shifting from one strategy to another. I needed to follow a consistent approach and stick to my rules. Even if I hit a big winning trade, I shouldn't deviate from my plan. By sticking to a well-defined trading plan, I could eliminate emotional decision-making and irrational behavior. Achieving consistency required backtesting my strategy and taking at least 100 trades to validate its effectiveness. I learned that profitability comes from two angles: increasing my win rate and avoiding bad trades. It may seem counter-intuitive, but by focusing on a strategy with a risk-reward ratio of 1:3 and maintaining an above break-even win rate, I could generate significant profits. It didn't have to be a high-risk, high-reward approach. I had my share of ups and downs, trying different strategies and mentorships, but eventually, I found my own holy grail. It took perseverance and a willingness to learn from experienced traders. I developed a framework that worked for me, which involved chart analysis, setting alerts, documenting analysis, and following a step-by-step plan. I also emphasized the importance of journaling trades, recording emotions, and analyzing patterns to improve my trading psychology. Having a mentor was crucial in my journey. A mentor provided valuable guidance, shared their mistakes, and helped me refine my approach. It's important to find someone who can analyze your strategy objectively, show solid trading results with third-party verification, and support your personal development beyond trading. In conclusion, trading success comes from having a well-defined plan, sticking to it, and avoiding emotional decision-making. Consistency is key, and profitability can be achieved through a balanced approach that focuses on risk management and a decent win rate. Find a mentor who can guide you, but ultimately tailor your strategy to fit your own lifestyle and goals. Remember, success is within reach if you stay consistent and committed.
AMEX:SPY
by A1TradingHub
FrogAlgo: Why not revenge in trading?Sometimes the ups and downs of the market can take a toll on us, both mentally and emotionally. Imagine this scenario: you enter a trade with confidence, having carefully considered every aspect and calculated your moves. You're in a great mood, envisioning the profits that await you. But then, unexpectedly, everything goes wrong. - In moments like these, it's natural to feel anger and resentment towards the market, perceiving it as unjust. The urge for revenge might arise, and you might impulsively open positions with the intention of punishing the market. However, let me emphasize why revenge trading is not only dangerous but also counterproductive. - Revenge trading occurs when we believe that the market has taken too much from us or treated us unfairly. Instead of stepping back and regaining composure, we act impulsively, driven by anger and a desire to prove ourselves. This emotional state often leads to two scenarios: either we open larger positions, amplifying our losses, or we manage to recoup some losses through sheer luck. However, neither of these outcomes is a sustainable or wise approach. - Attempting to take revenge on a market that is infinitely more powerful than any individual trader is irrational. It is crucial to remember that revenge trading is driven by emotion rather than logic and strategy. By engaging in revenge trading, we lose touch with reality and abandon the strategies and algorithms that used to bring us profits. - Effective money management and risk compliance become distant thoughts, and we throw all our resources into the blazing fire of revenge. Trading based on intuition, rather than a disciplined approach, becomes akin to gambling. This approach is destined to fail and can result in even greater losses over time. - So, how can we overcome the urge for market revenge and make more rational trading decisions? - First and foremost, it's important to take a step back when the desire for revenge arises. Slow down your emotions and actions by stepping away from the computer and engaging in activities that involve fine motor skills. Solve puzzles, pursue a hobby, go for a walk, or connect with a friend. By shifting your focus away from trading, you allow the rational decision-making part of your brain to activate. - Next, take the time to analyze the situation and process your emotions. Write down a detailed analysis of the incident, including your thoughts, emotions, and actions. By gaining a comprehensive understanding of what threw you off balance emotionally, you'll be better equipped to recognize and control those triggers in the future. - Evaluate your trading strategy and ask yourself important questions. Does your trading system genuinely work? If you had followed your system entirely (which you didn't do when seeking revenge), would it have helped minimize losses? Are the losses that angered you a result of system losses or a breach of the system's rules? Assess not only your trading system but also your money management rules to ensure you are effectively managing risks. Proper risk management acts as insurance, protecting you from substantial losses. - To overcome the desire for revenge, it is essential to understand what triggers it and address the underlying reasons. When we attribute personal meaning to our trades and view the market as a reflection of our self-image, we often find ourselves caught in an emotional storm. In such a state, we may disregard trading systems and risk management principles, making foolish mistakes that can devastate our trading accounts. - Always remember that the market provides only factual information for analysis, and behind the price quotes lies nothing more than information. By recognizing this, we can approach trading with a clear and rational mindset, leaving behind the destructive cycle of revenge trading. In conclusion, revenge trading is a dangerous path to take. By following the steps outlined above and focusing on logic, strategy, and effective risk management, we can overcome the urge for revenge and make more informed and profitable trading decisions.
AMEX:SPY
by A1TradingHub
Self reflectionThe past couple of days has seen EURUSD hit my POI and start to bounce off and head towards my target. While this is nice, the downside is that I have not yet been able to position myself into this trade. This video is just about my emotional state at this moment and some takeaways I need going forward. Initially this was meant to be a private video but in the spirit of transparency and just wanting to be held more accountable to myself I decided to make it public.
Education
by udonahi
1
Eurusd Shaking out Weak hands?Trading is not complicated once you have a good understanding of whatever your technical approach is to the markets. After that good understanding is achieved you will have reasonable expectations about where price can go and will rarely be surprised. However, trading can become difficult when you throw trading psychology in the mix. Positive trading psychology is the sum of your mindset, discipline, and patience. This is why it's the most fragile and significant portion of your bottom line. Listening to the great traders and reading about their stories it's often mentioned as the most important piece of the puzzle when it comes to long term & consistent returns. It requires inner reflection and a good amount of attention from time to time. I have run into one of these occasions as I have strayed from my bread and butter. I have nonetheless created a rule on my trading plan to save me from any future occasions.
Short
by ShrewdCatfx
Getting Over Emotional Barriers to Successful ResultsInvesting plays a crucial role in personal finance, serving as a vital avenue for individuals to expand their wealth and financial security over an extended period. Despite its significance, numerous individuals shy away from investing due to various perceived obstacles that hinder their progress, including a lack of knowledge, fear of risks, and limited resources. Unfortunately, these barriers can impede individuals from reaching their financial goals and securing their future. In this comprehensive article, we will delve into the common obstacles that hinder successful investing, and we will present practical tips and strategies to overcome them effectively. Our ultimate objective is to empower individuals by eliminating these barriers, enabling them to make well-informed investment decisions and ultimately achieve long-term financial prosperity. Emotional Aspect Emotions exert a profound influence on the realm of investing, often stealthily shaping our choices and behaviors without our conscious awareness. Fear, greed, and even overconfidence can distort our judgment and result in suboptimal investment decisions. Recognizing and effectively managing our emotions becomes paramount for achieving success in the realm of investing. This article aims to delve into the profound impact of emotions on investment endeavors, pinpoint prevalent emotional biases that can derail our investment strategies, and offer pragmatic advice for navigating the emotional landscape when making investment decisions. By gaining insight into the intricate interplay of emotions and investments, we can enhance our investment outcomes and attain greater financial security for the long term. Lack Of Knowledge The misconception that successful investing revolves solely around buying and selling the right stocks can lead investors astray. This oversimplified viewpoint fails to acknowledge the intricacies of market dynamics and the multifaceted factors that drive investment performance. Moreover, investors often overestimate their ability to outperform the market and unwittingly expose themselves to unnecessary risks. Another common pitfall is the allure of strong performance, which tempts investors to chase the latest trendy sector without fully comprehending the underlying reasons or associated risks. This behavior can result in an unbalanced portfolio with an excessive concentration of funds in a single investment, such as their employer's stock, which undermines diversification. Furthermore, a significant number of investors lack a comprehensive understanding of fundamental investment concepts, such as bonds, interest rates, and central bank policies, which can profoundly impact their decision-making. For example, some investors may avoid bonds altogether, unaware of their potential advantages in situations such as company bankruptcy, or fail to recognize the influence of rising interest rates on bond prices. Lastly, investors often struggle with determining the appropriate time to sell a substantially appreciated stock, failing to capture profits or free up capital for other investment opportunities. This oversight can result in an imbalanced portfolio that excessively favors the appreciated stock, exposing investors to unnecessary risk. Market fluctuations inevitably prompt portfolio readjustments, sometimes to the dismay of investors. Rebalancing involves selling some of the best-performing investments to acquire quality stocks that have lagged. Understanding these fundamental concepts and adopting a more rational approach to investing can empower investors to achieve greater financial success and navigate the complexities of the market with confidence. Concentrating Too Much On The Details Despite many investors proclaiming to prioritize a long-term investment perspective, their decision-making is frequently swayed by short-term market movements and fleeting notions. While the importance of establishing long-term financial goals, such as purchasing a home, saving for education, and preparing for retirement, is widely acknowledged, many individuals neglect to devise sound financial plans to actualize these aspirations. This lack of strategic planning renders their choices vulnerable to the unpredictable fluctuations of the market, heightening the likelihood of impulsive decisions that undermine their ability to achieve long-term goals. Invariably, when the market experiences an upswing, the average investor hastily plunges into stocks and mutual funds in an attempt to capture some of the profits amassed by seasoned professionals. Conversely, during a market downturn, panic often grips the average investor, prompting them to sell investments near the market's nadir. Regrettably, this cyclical pattern frequently repeats itself, resulting in investors enduring substantial capital losses and growing disenchanted with the stock market. Methods For Overcoming Emotional Obstacles To enhance the likelihood of success in investing and trading, several strategies can help overcome barriers. Consider the following tips: Educate yourself: Lack of knowledge is a major obstacle to successful investing. Invest time in learning the fundamentals, including different investment types, risk management, diversification, and market trends. Online courses, workshops, seminars, and financial advisors can assist in expanding your knowledge base. Develop a plan: Create a well-defined investment plan that aligns with your financial goals and risk tolerance. This plan should encompass a diversified portfolio, clear investment objectives, and a strategy for monitoring and adjusting your investments over time. Maintain discipline: Avoid making impulsive decisions driven by emotions or short-term market movements. Stick to your investment plan and resist the temptation to chase fads or engage in impulsive trades. Embrace long-term focus: Successful investing requires a long-term perspective. Don't overly fixate on short-term fluctuations; instead, concentrate on your long-term objectives. Seek assistance when needed: Don't hesitate to seek guidance when necessary. Working with professionals like financial advisors, accountants, or investment experts can provide valuable insights and help develop a personalized strategy tailored to your specific needs. By implementing these strategies, you can overcome barriers to successful investing and increase the likelihood of achieving your financial goals. Conclusion Investing presents its fair share of challenges, often impeding individuals from reaching their financial goals. Emotional biases, limited knowledge, and getting lost in intricate details are common barriers faced by investors. However, by effectively managing emotions, acquiring knowledge, formulating a clear investment plan, maintaining discipline, adopting a long-term perspective, and seeking assistance when needed, investors can overcome these barriers and attain lasting financial success. It is vital to understand that investing is a journey that demands patience, perseverance, and a willingness to learn and adapt. By implementing these strategies, investors can conquer emotional obstacles and make well-informed investment decisions that yield profitable outcomes.
Education
by FOREXN1
26
The Psychology Of Trading: How To Manage Your Emotions.The significance of psychology in trading cannot be overstated, as it serves as a cornerstone for achieving success. Failure to acknowledge its importance can have disastrous consequences. A notable example is the case of Nick Leeson, who single-handedly caused the downfall of the venerable 200-year-old Barings Bank, a financial institution of such stature that even Queen Elizabeth II entrusted her funds to it. The losses incurred amounted to a staggering 2 million pounds, highlighting how the lack of emotional control in trading can lead to catastrophic outcomes. Understanding and managing one's psychological state is crucial for traders at every level, without any exceptions. It holds true for beginners who may be working with a modest capital of a few hundred dollars, as well as for seasoned professionals who operate with million-dollar deposits. The ability to control emotions, maintain a disciplined mindset, and make rational decisions amidst market fluctuations are vital components for long-term success in trading. By recognizing the impact of psychology and taking steps to develop a strong mental framework, traders can navigate the complexities of the financial markets with greater resilience and achieve their desired outcomes. What Is Trading Psychology? Trading psychology encompasses the behavioral aspects that shape an individual's actions within the realm of financial markets. These actions range from identifying optimal entry points to executing profitable trades. Renowned trader and fund manager William Eckhardt once remarked that intelligence is largely unrelated to success in trading. Based on his observations, individuals of average intelligence, yet diligent in their approach and possessing discipline and self-control, consistently achieved trading success. This observation underscores the crucial role of psychology in trading. Only through complete control over one's actions can traders earn stable profits, rather than relying on occasional wins. The development of trading psychology is a process that unfolds over time. Beginners often find themselves prone to making repetitive mistakes, but with a focus on self-control, they can cultivate these necessary qualities. The key lies in the ability to learn from one's own mistakes and grow from them. By recognizing and addressing psychological factors such as fear, greed, and impatience, traders can enhance their decision-making abilities and gain a deeper understanding of market dynamics. Through continuous self-reflection and a commitment to personal growth, individuals can refine their trading psychology, leading to more consistent and successful outcomes. How Do I Handle My Emotions As A Trader? Indeed, while constant practice and self-control are essential components of addressing psychological challenges in trading, a more detailed approach is necessary for effectively resolving these issues. Below are some key strategies that can contribute to overcoming psychological obstacles in trading: 1) Self-awareness: Develop a deep understanding of your own psychological tendencies, strengths, and weaknesses as a trader. Recognize the emotions and biases that may influence your decision-making process. 2) Journaling: Maintain a trading journal to record your thoughts, emotions, and actions during trades. This practice can help you identify patterns, errors, and areas for improvement. Regularly review and reflect on your journal entries to gain valuable insights into your psychological state while trading. 3) Emotional regulation: Learn to manage emotions such as fear, greed, and impatience. Implement techniques like deep breathing exercises, meditation, or mindfulness practices to cultivate emotional stability and prevent impulsive decision-making. 4) Risk management: Establish and adhere to a well-defined risk management plan. Determine the maximum acceptable level of risk for each trade and set stop-loss orders accordingly. This approach can help mitigate the negative impact of emotional decision-making during turbulent market conditions. 5) Positive reinforcement: Celebrate your trading successes, regardless of their magnitude. Acknowledge and reward yourself for following your trading plan and executing disciplined trades. This positive reinforcement can strengthen your confidence and reinforce desirable trading behaviors. 6) Continuous education: Invest in expanding your knowledge and skills through ongoing education. Attend trading workshops, webinars, and seminars to enhance your understanding of both technical and psychological aspects of trading. Engaging with a community of traders can provide valuable support and insights. 7) Seeking support: Consider joining trading forums or finding a mentor who can provide guidance and support. Discussing challenges and sharing experiences with fellow traders can offer fresh perspectives and encourage personal growth. Remember, addressing psychological challenges in trading is an ongoing process that requires dedication and perseverance. By implementing these strategies and adapting them to your individual needs, you can develop a robust psychological toolkit to navigate the complexities of the market and enhance your trading performance. Learn To Rest Trading is undoubtedly associated with stress, and it is crucial to find effective ways to alleviate psychological pressure. No one can sustain constant worry about open trades or missed opportunities without experiencing negative consequences. Just as athletes prioritize physical and mental preparation before important games or competitions, traders can benefit from a similar approach. Taking care of both physiology and psychology is essential in achieving a balanced state of mind. To effectively manage stress in trading, consider the following recommendations: Establish a routine: Create a structured daily schedule that includes not only trading activities but also time for physical exercise, relaxation, and leisure. This routine helps maintain a sense of balance and prevents trading from becoming the sole focus of your life. Physical activity: Incorporate regular exercise into your routine. Engaging in activities such as going to the gym, taking walks, or participating in sports can help reduce stress, improve overall well-being, and promote mental clarity. Healthy lifestyle: Pay attention to your diet, sleep patterns, and overall self-care. Eating nutritious meals, getting sufficient sleep, and practicing relaxation techniques like meditation or deep breathing exercises contribute to a healthier physiological state, which in turn positively impacts your psychological well-being. Maintain social connections: Engage with friends, family, and fellow traders to maintain a support network. Sharing experiences, discussing challenges, and seeking advice from trusted individuals can alleviate feelings of isolation and provide valuable perspectives. Take breaks: Allow yourself regular breaks from trading to recharge and rejuvenate. Stepping away from the screen, engaging in hobbies, or spending time in nature can help reduce stress levels and provide a fresh perspective when you return to the market. Mindfulness and stress management techniques: Incorporate mindfulness practices into your daily routine. Techniques such as meditation, deep breathing exercises, or visualization can help calm the mind, increase self-awareness, and improve resilience in the face of stress. Remember, trading should be a part of your life, not the sole focus. By nurturing a well-rounded lifestyle that includes physical activity, relaxation, and maintaining social connections, you can effectively manage stress, enhance your psychological well-being, and ultimately improve your trading performance. Don't Focus On The Problem And Find Unconventional Solutions Trading is inherently dynamic, and challenges are bound to arise. Profitable strategies can lose their effectiveness over time, and market conditions evolve, rendering old analytical methods obsolete. It is important to recognize the risk of becoming fixated on a specific problem without finding a guaranteed solution. One common example is the endless pursuit of optimizing a trading strategy. Traders may dedicate days or even weeks attempting to fine-tune a strategy, only to find their efforts in vain. In such situations, it is crucial for traders to possess the ability to recognize when to let go and seek alternative approaches. If attempts to optimize an existing strategy prove futile, it may be time to explore new strategies or even consider a shift in trading style altogether. Adaptability and the willingness to embrace change are essential qualities for traders. Instead of becoming overly attached to a single approach, being open to non-standard solutions can be immensely valuable. This might involve exploring different trading methodologies, incorporating new indicators, or even considering alternative markets. Finding a new strategy or adjusting one's trading style requires a combination of self-reflection, continuous learning, and experimentation. Being proactive in seeking innovative solutions ensures that traders can navigate evolving market conditions and maintain a competitive edge. Remember, trading is a dynamic endeavor, and the ability to adapt and explore new possibilities is key to long-term success. By embracing change and being open to new strategies, traders can navigate the challenges that arise and continue to thrive in the ever-changing landscape of the financial markets. Fearless Analysis Brett Steenbarger's analogy between trading analysis and the principles of Alcoholics Anonymous highlights an important aspect of personal growth and development in trading. Just as it takes courage for individuals to admit their problems and seek help in recovery programs like Alcoholics Anonymous, traders must also be willing to acknowledge their mistakes and take responsibility for their actions. In the trading world, it is common for individuals to deflect blame onto external factors such as the market, market makers, or indicators, rather than accepting their own errors. However, true progress can only be achieved when traders are mentally capable of saying to themselves, "I made mistakes, and that's why I lost money. The external factors played a minimal role." By embracing this mindset, traders can take ownership of their actions and begin the process of self-improvement. Accepting personal responsibility for mistakes allows for self-reflection and learning from past experiences. It enables traders to identify areas for improvement, refine their strategies, and develop a more disciplined and effective approach to trading. Acknowledging the problem is indeed the first step toward finding a solution. This fundamental principle holds true not only in trading but in all aspects of life. By confronting our shortcomings, we open the door to personal growth and development. It empowers us to make necessary changes, learn from our mistakes, and ultimately enhance our trading performance. In summary, having the courage to admit mistakes, taking responsibility for one's actions, and acknowledging the role of personal accountability are crucial steps in the journey toward becoming a successful trader. Evaluation Of Hypothetical Scenarios Being prepared for all possible scenarios is a crucial aspect of successful trading. Relying solely on one scenario and assuming a 100% guarantee is unrealistic and leaves traders vulnerable to unexpected market movements. For instance, in the case of a well-established downtrend where a currency pair consistently breaks through support levels, it may appear likely that the trend will continue. However, it is important to acknowledge that no outcome can be guaranteed with absolute certainty. While the probability of a reversal might be relatively low, it is still essential for traders to evaluate this scenario and consider potential levels where the downward movement could potentially halt, as well as identify potential targets in case of a reversal. By considering multiple scenarios, traders are prepared for different market outcomes. If one scenario fails to materialize, they can quickly shift to their backup plan of action. This approach avoids panic and ensures a clear understanding of the unfolding market conditions. It benefits traders both emotionally, by maintaining a composed mindset, and practically, by helping to recover from any potential drawdowns. If losses occur according to the first scenario, the backup plan allows for swift recovery and helps compensate for the incurred loss. Having multiple scenarios and contingency plans not only provides traders with a more comprehensive approach but also fosters adaptability and resilience in navigating various market conditions. It enables traders to effectively manage risk and make informed decisions based on evolving market dynamics. In summary, a trader's ability to embrace multiple scenarios and swiftly switch to alternative plans when necessary contributes to emotional stability, risk management, and the potential for recovering from losses. Being prepared for all possibilities strengthens a trader's overall strategy and increases the chances of achieving consistent profitability. Detached Attitude To Trading In the world of trading, the psychology of the quiet trader refers to the ability to approach trading with a calm and detached mindset, devoid of intense emotional reactions. While it may be unlikely to experience intense emotions in a typical day job, achieving a similar state of detachment and routine in trading is a valuable skill to develop. At the beginning of their trading journey, it is natural for traders to experience a range of emotions that can interfere with decision-making. However, with consistent practice and experience, the trading process can become more routine and automatic. Placing orders and managing positions should become a habitual process that no longer elicits strong emotional reactions. Larry Hite, a renowned trader featured in Jack Schwager's book "Stock Market Wizards," highlighted the importance of trading being utterly boring. Hite's trades were devoid of captivating stories that interested his colleagues. This perspective underscores the idea that successful trading involves striving for consistency and routine in every trade. The art of trading lies in developing a disciplined approach where all trades become similar to each other. This means treating each trade as part of a well-defined strategy, adhering to predetermined rules, and executing trades without being swayed by emotional highs or lows. By cultivating this mindset, traders can maintain a calm and objective perspective, making sound decisions based on analysis and strategy rather than being influenced by fleeting emotions. It is important to note that achieving the psychology of the quiet trader requires ongoing practice and self-awareness. Emotions may still arise, especially during challenging market conditions, but the goal is to minimize their impact on trading decisions. Through continuous learning, self-reflection, and discipline, traders can strive for a state of emotional detachment and routine in their trading activities. In summary, the psychology of the quiet trader emphasizes the importance of approaching trading with a calm and detached mindset. By striving for routine and consistency, traders can reduce the influence of emotions and make objective decisions based on their trading strategy. Developing this skill requires practice, self-awareness, and a commitment to ongoing improvement. Keeping Track Of Your Actions Keeping a trader's journal is often overlooked by many beginners in the trading world. It may initially appear unnecessary, as the signals and trades seem clear in the moment, leaving no room for the perceived time wastage of jotting down notes. However, this approach ultimately deprives traders of a valuable foundation for future trade analysis and improvement. While trading reports can be downloaded from the trading terminal, they are not an adequate substitute for a trader's journal. Trading reports typically only include basic information such as trade details (entry and exit times), closed position results, and expenses incurred. On the other hand, a trader's journal goes beyond these raw data points, allowing traders to record the reasons behind their trading decisions and evaluate their emotional state during each trade. By maintaining a journal, traders can gain insights into their decision-making processes and learn from past experiences. It provides an opportunity to review trades and analyze the effectiveness of their strategies. Additionally, tracking emotional states throughout trades helps traders identify patterns and better understand how emotions can impact their performance. In addition to the journal, it is recommended that beginners create a checklist to ensure the adherence to their trading rules. Writing down and assessing the filters used to evaluate trade signals on a sheet of paper, assigning points to each filter, and evaluating entry points can be effective techniques. Over time, traders may become adept at mentally checking these criteria, but the act of physically documenting them helps reinforce consistency and discipline. Both the trader's journal and checklist serve as valuable tools for self-assessment and improvement. They provide a structured framework for traders to reflect on their trades, identify strengths and weaknesses, and refine their trading strategies. By consistently using these techniques, beginners can develop a deeper understanding of their trading approach and enhance their overall performance over time. In summary, while it may seem unnecessary at first, maintaining a trader's journal and utilizing a checklist can greatly contribute to a trader's growth and improvement. These practices offer valuable insights into decision-making processes, emotional states, and the adherence to trading rules. By incorporating these techniques into their routine, traders can refine their strategies and make informed adjustments to achieve greater trading success. Regular Practice As mentioned earlier, taking breaks in trading is important for maintaining a balanced approach and managing stress. However, it is crucial to clarify that taking breaks does not mean completely giving up trading for an extended period. Consistency and regular practice are key to developing and refining trading skills. In the event of a challenging period or a losing streak, it is necessary to pause and take time to normalize one's psychological state. This break allows traders to step back, reassess their approach, and work on addressing any mistakes or weaknesses. Taking the time to reflect and learn from past experiences can contribute to personal growth and improvement as a trader. However, it is essential to emphasize that the break should not transform into a long-term avoidance of trading. Once the trader has regained their psychological equilibrium and made necessary adjustments, it is important to resume trading. Consistent practice is vital for maintaining trading skills and staying in shape, similar to how weightlifters need regular training to retain their form. Drawing a parallel to sports, just as weightlifters would lose their physical form without regular practice, traders need consistent engagement in the markets to hone their skills and adapt to changing conditions. By regularly participating in trading activities, traders can stay sharp, stay updated with market dynamics, and refine their strategies. In summary, while breaks are valuable for maintaining psychological well-being and addressing trading challenges, it is important not to abandon trading for an extended period. Regular practice and engagement in the markets are necessary for traders to stay in shape and continuously improve their trading skills. By striking a balance between taking breaks when needed and consistent practice, traders can navigate the markets effectively and increase their chances of success. Trading Will Be Unprofitable From Time To Time Indeed, it is crucial for beginners to understand that not every trade will be profitable. It is unrealistic to expect a 100% success rate in trading, and even the most successful traders experience losses along the way. What matters is the overall statistics and performance of their trading strategy. Successful trading is not about winning every single trade, but rather about having a strategy that generates a greater number of profitable trades and/or profits that exceed the losses. Traders should focus on the bigger picture and assess the effectiveness of their strategy based on the cumulative results over a period of time, such as a day, week, or month. Instead of fixating on the outcome of each individual trade, it is more important for traders to pay attention to whether their trades adhere to their predetermined rules. If a trade is closed based on the application of a stop-loss order, and the decision was in line with their strategy, then it can be considered a successful trade, regardless of the actual outcome. By shifting the focus from the outcome of each trade to the consistency and adherence to the trading plan, traders can maintain discipline and objectivity in their decision-making. It allows them to evaluate the effectiveness of their strategy based on a broader perspective and make informed adjustments as needed. In summary, it is crucial for beginners to understand that not every trade will be profitable. The key to successful trading lies in the overall performance of the strategy, with a focus on the compliance with predetermined rules rather than the outcome of individual trades. By adopting this mindset, traders can maintain discipline, manage risk effectively, and increase their chances of long-term profitability. Possible Failure Is Not Related To Your Personal Qualities Absolutely, the outcome of the first attempt in trading does not define a person's intelligence or talent. It is important for beginners to recognize that initial failures are a common part of the learning process. In fact, even intellectually developed individuals may face challenges in trading, and there is no direct correlation between intellectual capacity and trading success. Famous traders have observed that intellectually developed individuals may find trading more difficult. This could be due to various factors such as overanalysis, overthinking, or struggling to detach emotions from their decision-making process. However, it is crucial to remember that trading skills can be developed through discipline, persistence, and a willingness to learn from mistakes. Mistakes are not a disaster but rather opportunities for growth and improvement. They serve as valuable lessons that can be used to refine decision-making methods and trading strategies. With dedication and a commitment to learning, traders can make corrections and progress in their trading journey. Success in trading relies more on discipline and persistence than innate talent or intelligence. Developing the ability to stick to a trading plan, manage risk effectively, and maintain emotional control are critical factors in achieving long-term success. By cultivating these qualities and learning from mistakes, traders can enhance their trading skills and increase their chances of success in the markets. In summary, the outcome of the first attempt in trading does not determine a person's intelligence or talent. Mistakes and challenges are part of the learning process, and success in trading is not solely dependent on innate abilities. By emphasizing discipline, persistence, and a commitment to continuous improvement, traders can overcome obstacles, learn from mistakes, and increase their chances of achieving trading success. Conclusion Losing a trading deposit does not indicate a lack of intelligence or suggest that trading is not suitable for an individual. It is important to understand that losses are a natural part of the trading journey and can provide valuable lessons for personal growth and improvement. Instead of viewing a lost deposit as a failure, it should be seen as an opportunity to learn from mistakes, gain experience, and continue working towards success. Learning from other people's mistakes is indeed beneficial in trading. By studying the experiences and insights of successful traders, one can gain valuable knowledge and avoid making similar errors. However, personal experiences and mistakes also play a crucial role in the learning process. Analyzing one's own trades, identifying what went wrong, and drawing conclusions from those experiences can lead to valuable insights and improvements in future trading decisions. It is essential to approach trading with a growth mindset, understanding that setbacks and losses are temporary and can be stepping stones to success. Rather than being discouraged by mistakes, it is important to embrace them as opportunities for growth and development. By learning from both personal and others' mistakes, traders can refine their strategies, strengthen their decision-making skills, and increase their chances of achieving success in the markets. In summary, a lost trading deposit does not determine an individual's intelligence or suitability for trading. It is a chance to learn, grow, and refine one's approach to trading. By utilizing personal experiences and drawing lessons from both personal and others' mistakes, traders can enhance their knowledge, skills, and ultimately increase their potential for success in the world of trading.
FX_IDC:XAGUSDEducation
by FOREXN1
23
Risk/Reward Bitcoin Setup ⛲Risk/Reward is the name of the game. In my scalping this morning I've taken 10 trades. I have gone on a losing streak of 10 trades in a row. After reading the books I've become aware that this is not unsual for a profitable system in the markets. I like the analogy of pulling marbles out of a hat. If you have an edge in the market then over the long term the marbles you pull out of the Hat will net you a positive R. However, in the short term you may pull out 10 marbles consecutively that do not net you anything. This is where trust in your experience and system will serve us as traders for a long time to come. Technicals : Price has arrived at our monhtly supply zone 29,305$. Price is up 9ish percent over 2 days. The Market is not random and I'm aware of that. 8 4hr candles in a row is not common and that is a fact. Combining these confluences..
COINBASE:BTCUSDShort
by ShrewdCatfx
This is Forex.. (Timing is Key) Correction with London 📻 Currently Sitting at 4Hr Supply Zone ( 1.09945 ) Looking for lower prices as price has touched into a 4hr Supply zone and we have an upcoming london session. What we may observe is a quick spike then a hard retreat back down to 1.098 or even 1.0945 ( Both of which are daily S/R Levels) . You can observe this behavior on Eurusd from last week. I will include a snapshot. A Brief description being as price was creating Higher Highs and Higher Lows on the daily timeframe EU was stairstepping it's way up by doing a retest at Daily S/R Zones. The wednesday Daily candle did a retest at 1.07817 Daily S/R Zone/. The Thursday daily candle did a retest at the 1.08126 Daily S/R Level. It's a recurring theme and is something we may anticipate as price continues to makes it's ascent. You may trade the pullback to the downside or wait for better Risk/Reward Long price areas. More attractive long prices area's being the 1.098 and 1.0945 Daily S/R Zones previously mentioned. Sometimes it's more about understanding the psychology of market participants and using this to your advantage. Price is High as we approach the 2nd to last london session of the week. But with london we will expect more volume and why not a pullback with this volume. We are sitting at a supply zone anyways. There is alot of liquitiy in forex and so you will not see insane 10% increases in 2 days like you can observe in crypto.
Short
by ShrewdCatfx
Ninja Talks EP 20: The Book of Five RingsAs a martial arts enthusiast I found myself reading (again) my favourite book of all time, "The Book of Five Rings" by Miyamoto Musashi. TLDR; A 16th Century Samurai who had 64 duels to the death, never lost and wrote down all his techniques, thoughts and insights shortly before he died atop Mount Iwato. Yeah I know, crazy, but true. Anyway, I found myself reading this book again and I got to the chapter on Footwork where Miyamoto states something super important that relates to trading massively and something that will 100% help you in your finance career. He said, "Tred strongly on your heels and allow leeway in your toes." Essentially this is how I saw it as a trader. The heel is the first principles of trading - aka the core fundamental rules you must follow to build your trading career. The Toes are redundant techniques, noise, other peoples opinions, fake news and basically anything that isn't fixed, but constantly changing instead. Here's how I see it, as traders we need to "Tred strongly on our First principles" and not get lost in frivolous escapades to find the perfect strategy - it doesn't exist, nor does it need to - because first principles are the building blocks of a successful career, not temporary dopamine Toes the majority of traders chase each day. The first principles? + Psychology before, during and after a trade. + Win Rate + Risk + Reward + Entry/Exit technique(s) + Intuition (gained from experience, screen time and age) + Money Management and Compounding Tactics + Awareness (The core core) Does this make sense Ninjas? Operating from first principles allows you to focus on what's real and lasting, not things that are illusory and temporary. That's all for this episode! If you like this then consider giving a follow for more Ninja Talks. Keep your blades sharp! Nick
Education
by NinjaTradingServices
The Art of PatienceAmong the dozens of qualities and attributes, experts say traders need, patience is one of the most important qualities a trader can possess. It is a virtue often overlooked in the fast-paced world of trading, where new traders are lured into the trap of the get-rich-quick ideology. The ability to wait for the right trades can be the difference between success and failure, but how can we grow our patience? In this article, we will dive into the art of patience. We will discuss why patience is important and methods to cultivate patience. Why Patience is Important in Trading In this day and age, patience is a difficult thing to master. As a society, we almost want things before we know we want them. That makes waiting for nearly anything a monumental burden for most. We are so impatient that we are willing to pay money to remove things that require patience. Ads on video or music streaming apps or expedited package delivery are great examples. However, this does not mean we cannot learn and become disciplined in the art of patience. Patience allows traders to take a long-term view of the market. That market can be a volatile and unpredictable environment, and the temptation to blindly leap into a trade can be immense if we cannot maintain discipline and patience. Emotional or impulsive trades often lead to losses. Patience allows traders to wait for ideal opportunities that are thoroughly analyzed, utilizing a robust yet simple trading system. If we as traders take the time to be patient and genuinely analyze potential opportunities we can often avoid trades that are likely to be unprofitable. How to Cultivate Patience Patience is not a natural trait for everyone, but it can be cultivated through practice. Here are some tips for building your patience: Set realistic goals: Patience really requires a long-term perspective. Traders should set realistic goals for their trading strategy and focus on achieving them over time, rather than trying to get rich quick. The old adage of “Rome wasn’t built in a day” couldn’t be more pertinent. Great things take time to develop, but they are often worthwhile. If you miss, you miss: Something that is difficult for any trader is missing an opportunity. Maybe you were pulled away or just generally distracted, and an opportunity passed by you. It is unwise to hop on the FOMO train in the hope that there is still room up or down for a trade to be profitable. It is far better to take a step back and analyze the market and find new entries or opportunities that can be verified by your system. Missed opportunities are also a great learning experience to build yourself up rather than tear yourself down. Avoid distractions: Ohhhh look a squirrel! Anyways, the markets can be overwhelming, and it can be easy to get distracted. Examples of distractions would include nonconsequential/irrelevant news, misleading social media posts or groups, and personal environmental factors. Avoid distractions and focus on your trading plan; your future self will be thankful. Practice mindfulness: Many mistakenly think mindfulness is to make your mind a blank canvas, devoid of thought, and disregarding everything external. Mindfulness is the practice of being present in the current moment, recognizing when your mind wanders, and letting it go as you bring your focus back. View your mind as a muscle that needs to be trained, not entirely dissimilar to an athlete training their body. Mindfulness can help you stay focused and avoid impulsive decisions as you bring yourself to the present moment. Conclusion The funny thing about patience is that it takes time to develop. Patience is a foundational pillar for a trader's market psychology, but it is one of the hardest to build up. It allows traders to wait for the right opportunities, avoid emotional decision-making, and take a long-term view of the markets. By cultivating patience and applying it to your trading strategy, you can increase your chances of success.
NASDAQ:AMZNEducation
by LeafAlgo
4