Have You ever dreamed to become a popular trader?😊Hello, Have You ever wanted to become a popular trader?
Have you ever wanted to become famous like Jesse Livermore or, say, Larry Williams? Or do you think that success loves silence?
Scientists have calculated that, to one degree or another, 70% of people dream of fame (at least sometimes). That's, by the way, is a natural part of socialization.
Here is what the famous American sociopsychologist Orville Gilbert Brim, who studied the nature of fame and ambition, received:
📌 2% of people dream of becoming a celebrity is their main life ambition;
📌In another 30%, the desire for fame is among the main desires;
📌 for more than 40%, the idea of becoming famous appears from time to time;
📌And only the rest (which is less than 30%) do not care about fame.
So if we take three traders, then two of them will dream of becoming the "powerful trader" about whom will make legends.
Is it good or bad? 🧐
Evolutionarily, the desire for broad personal fame is a socio-psychological mechanism aimed at improving the human race.
Great people drive progress, and society rewards them with emotional benefits - reverence, worship, etc. In theory, everything should be cool.
In reality, the pursuit of fame can take various forms:
🔎constructive ambition;
🔎non-constructive vanity;
🔎various pathologies.
For example, if you wanna be one of the famous millionaire traders, ambition can be a good motivating fuel and will help you grow professionally.
But the lust for fame can also ruin a trading career.
The problem is, that you can't become a famous trader right off the bat. Let's be frank: worldwide fame is for few. Even in order to gain professional recognition in a narrow circle, you have to work hard.
And then the subconscious begins to throw in options, insidiously whispering:
"It's okay, that you lost three deposits, took five credits for trading and lose 11 times out of 10. Start a YouTube channel and tell everyone how cool you are!"😉
There is no benefit from such activities. Success is doubtful, and in the worst case, you can even earn the fame of a bla-bla man and be known as an unwise person. But even this is not the most harmful thing.
The main problem is that the pursuit of fame is a waste of time and effort.
🔥 A trader chasing emotional illusions ultimately reduces his chances of becoming a professional and gaining real recognition. 🔥
The desire for fame corresponds to the fourth stage of Maslow's pyramid - this is one of the forms of the need for respect / reverence. I already made a post on this topic, I'll leave a link for those who have not seen👇
But it happens that the thirst for fame grows out of completely different needs. Such pathologies include:
🔎Lack of love, which a person tries to compensate with popularity.
🔎The conviction that fame will solve all existing financial, household, social problems.
🔎 Feelings of inferiority.
🔎 Revenge arising from feelings of inferiority.
🔎Envy.
In all these cases, there is a substitution of pathological adequate ambitions in life. And the pursuit of fame in an attempt to satiate jealousy, raise self-esteem, etc., takes away resources that could be used to achieve really important goals.
🙏 "I was just doing my job" 🙏
Real recognition comes when a person is on the seventh step of Maslow's pyramid, symbolizing the need for self-actualization. Simply put, is engaged in life's work.
One beats, beats to achieve fame, while the other just works quietly, creates, does something there - and recive glory on a silver platter. Although he may not have expected it at all.
In general, everything is simple: do the job, and the rest will follow.
By the way, psychologists warn that if the desire for fame becomes the leading motive of activity, then it's - "blocks creativity and destroys personality."
This doesn't mean, that you are forbidden to dream about how you will become a famous trader. But this dream should not be the main one, or only one.
By the way, how can a trader become famous? From whom take an example? After all, the paths of glory are so different.
For example, you can gain fame:
🔥demonstrating inspiring examples of the play of the mind and the ability to rise after defeat, like Jesse Livermore
🔥revolutionizing stock trading like Charles Doe and Edward Jones;
🔥breaking stereotypes, like Linda Raschke, who became one of the first tough women traders;
🔥becoming a champion in trading and writing a bunch of books like Larry Williams;
🔥deceiving Hitler and becoming one of the main figures in CME history like Leo Melamed ...
🔥And some are overtaken by the glory of Herostratus - like, for example, Nick Leeson, who in one fell swoop swung over a billion and ruined Barings Bank, which entrusted him with money management.
I wish each of You - happiness to do something, that really brings You joy, because:
SUCCESS IS NOT THE KEY TO HAPPINESS, HAPPINESS IS THE KEY TO SUCCESS!
If you love what you do, you will be successful!
Always keep it in Your mind and don't forget about Rocket Bomb 🚀💣
💙💛
Rocketbombedu
Using MA on BTC's example!Hi! Moving averages are one of the most popular technical indicators. They have various types, but they have one purpose - to determine the current trend by smoothing out volatility and noise. Let's look how MA works on price movement of BTC!
The crossing of the slow MA by the fast one from bottom upwards gives a signal to buy, from top to bottom - to sell
- The simplest form of a moving average is known as a simple moving average (SMA). It is found by calculating the arithmetic average prices for a certain period of time;
- Exponential Moving Average (EMA) assigns more weight to the latest data, which is why it is more preferable;
- The main functions of moving averages include identifying trends and pivots, as well as support and resistance levels;
- Moving average can be a risk management tool. Thanks to it, you can set a stop loss and cut a losing position;
- The most popular moving average signals are their intersection with the price or their intersection with each other;
- Crossing of the moving average price upwards gives a signal to buy, downwards - to sell;
- Moving average signals can be false when pairs are trading in flat or when a gap forms;
- Moving averages should be combined with various indicators and oscillators. So their signals will be more accurate, which will lead to the opening of profitable positions.
Hope My post was helpful for You♥️
Stay tuned by Rocket Bomb 🚀💣
😱Types of Fears in Trading😱Hello! There are several types of fears at the market!
There are several main types of fear:
💡- fear of losing all capital in the account. One of the most common fears. The trader clearly understands that the numbers in the terminal are his money, and their reduction limits his financial capabilities in the future. Under fear of losing an even larger sum, a market participant does even more stupid things or even refuses to trade;
💡- fear of losing money in a losing position. Similar concerns arise during the transaction period under the influence of strong market volatility . This kind of fear is easily correctable;
💡- fear in time not to see a signal to enter or exit the market. More often it's faced by newcomers, who will not imagine what risks are in the trader’s deals and how to protect themselves from them;
💡- general fear of working on the market. It can act as a negative background and prevent you from making the right decision. Often, such fears are eliminated by gaining certain knowledge and experience on the exchange;
💡- fear of receiving another disadvantageous deal. Such fear leads to the appearance of excess fuss. As a result, the trader misses a really good deal;
💡- fear of early fixation of income (fear of loss profit). The position could still be kept open, but the trader reduces his risks, closes the deal and receives less profit. For many market participants, the fear of making such a “mistake” is even stronger than the fear of losing trades.
Guys, it's ok to feel all types of fears ! Especially for those , who new at the market !
Everyone went through that. Someone overcame own fears, someone is trying to overcome, but someone hasn't gotten along with emotions and left the market!
Remember, if you have a goal - go forward!💪🏻 Look only ahead and listen only yourself !🙏🏻
If you wanna become successful - you'll surely become that!!!🚀🚀🚀
Let's become better together ♥️
Stay tuned by Rocket Bomb 🚀💣
Maybe it's time to get out of comfort zone?🧐
Have you noticed, that one of the most comfortable sleeping positions is curled up in a ball. The legs are pulled up to the stomach, the head is lowered, the arms are hidden on the chest, the back is slightly arched. Cover yourself with a blanket and sleep. Warm, dark and calm. A sense of safety arises.
And the secret of this protective posture is in subconscious imitation of the fetus in the mother's womb.
There, in the warmth of the mother's womb, is the first comfort zone, that a person leaves when he is born. Subconscious memories of how comfortable, calm and good it was, remain with us for life.
If you wanna live, you have to be born.
For a baby, this jerk is extremely uncomfortable. You find yourself in a cold and unfamiliar place, and some monster slaps on your 🌰🌰 🤣🤣
After a while you want to eat and drink, and you have to do it yourself, and everything around is so huge, loud...really don't wanna repeat that.
Therefore, subconsciously, we always resist leaving our comfort zone. The experience has already been. Didn't like it!
But the stress mechanism, that is triggered during childbirth (and then every time you leave your comfort zone) is a protective function of the body. Stress activates the reserves of the body and brain, forces us to act more actively, to fight the aggressive world.
However, nature also took care of the reward.
If stress doesn't become constant, but is a one-time surge, that activates forces, relaxation and satisfaction follow.
So, we figured out the physiology of the comfort zone. Why going beyond it guarantees stress is understandable. Now the question is: <>
The birth of a trader
In fact, everything new, unknown and unusual is outside the comfort zone. Even if we go to the store in a new way - that's a mini-stress for our brain, forced to work out a different route instead of saving resources while the body is moving on autopilot. Any change of scenery, new job means going beyond the familiar world. And the higher the unknown, the more uncomfortable the path.
For most people, trading is terra incognita. Trading isn't taught at school, it's not taught at universities. Trading forces you to take responsibility. Most importantly, trading is always associated with risk.
Risk is danger and uncertainty, and the brain reacts accordingly. He begins to ask insistently: "Do you really need this? No, are you sure?"
Leaving the comfort zone and becoming a trader is also hindered by social stereotypes. First, society reacts negatively to any attempts to break the system, that is, to do something that goes beyond the standard life path: creativity, politics, business. Secondly, trading is one of the areas, that make most people wary (and statistics, according to which only 5% of traders achieve success, reinforce this feeling). So if you want to become a trader, you are already challenging society.
That's why the birth of a trader so often becomes a struggle with the usual way of life, basic attitudes, other people's opinions and yourself.
What happens, when you become a trader ?
Think your comfort zone problems will end? Nothing like this. Two ambushes await the trader. The first is the inability to cope with responsibility for your life.
The second ambush is stagnation. After overcoming difficulties, learning to trade and starting to receive a stable profit, the trader finds himself ... Right, in a new comfort zone!
After all, what is it? The comfort zone is above all stability.
But the calmness puts you to sleep. Periods of economic stability in history often turn into a stage of stagnation and stagnation. The same in human life. Psychologists Robert M. Yerkes and John D. Dodson established as early as 1908 that performance doesn't improve in a state of comfort. Motivation falls asleep.
In order to become a successful trader, it is not enough to leave your comfort zone. You may have to struggle with its attraction more than once.
Therefore, leaving your comfort zone, take care of your psyche:
✔️Pump up motivation. Be clear about why you are breaking the wall and whether you need it.
✔️Work through your fears so that the body does not engage in self-sabotage mode.
✔️Develop resistance to stress and brain flexibility. Choose non-standard routes more often - in the broadest sense of the word.
✔️Take care of insurance, think over different scenarios for the development of the situation.
If you feel that getting out of your comfort zone is difficult for you, do not take a running ram. Take small steps.
Have you ever tried to leave your comfort zone?
Stay tuned by Rocket Bomb🚀 💣
9 Golden Rules of Effective Money Management
1. Choose the correct position size.
The basic rule is one: don't forget to minimize your risk and correctly calculate position size in every deal.
For example, you can invest all initial capital in one trade. But why? After all, you can never be sure, that particular deal is guaranteed to bring profit. Many professionals use the "Rule of 2% " - when in one position a trader risks no more than 2 percent of him deposit. In this case, if the trade is closed at a loss, you'll only lose a small amount of money.
There is also an alternative approach, where the trader risks a fixed amount of money (for example, $ 5), that he would be comfortable with losing.
2. Don't trade too aggressively
One of the biggest mistakes is too aggressively trading . Even a small series of several losses in a row, with an incorrectly selected position size, can lead to a significant decrease in the size of your deposit.
3. Always set Stop Loss
Placing a Stop Loss order for each trade has practically no drawbacks, only advantages. Very often, traders become emotionally attached to their trades, which can be fatal.
For example, if a trade becomes unprofitable, an emotionally involved trader will not want to close it and will believe, that the price can still turn around and go in the right direction. Setting a stop loss helps overcome this problem. Thanks to the stop order, you can strictly control the ratio of profit and risk. You should always follow this rule, so that money management in trading gives you tangible advantages, and the deposit doesn't melt before our eyes.
This is one of the basic principles of risk control. Certainly not the only one.
4. Be careful with leverage
In the cryptocurrency market, many traders use leverage. It can be useful, but using it can also lead to huge losses.
As long as you rationally sizing your position and not using too high leverage, then you are fine, you are safe.
5. Keep your emotions under control
Capital management in the market full of emotions: from excitement and euphoria to fear and frustration. Try to free your mind of emotions - this will help you make rational decisions. The easiest recipe not to lose money is to take control of your emotions. All wrong trading decisions are usually made under the influence of emotions.
6. Take responsibility for your results (both losses and profits)
How to manage capital? First of all, with full awareness and responsibility. Traders must recognize, that their trades can be both profitable and loss-making. Assuming every transaction will be successful you can be wrong. A realistic trader knows that any result is possible and is ready for it, while accepting at the same time what the market will bring to him.
7. Manage your risk and avoid overtrading
A trader should get into the habit of analyzing all types of risks. You should zvoid overtrading, which is often the case for newbies traders , who don't have a plan. With such an approach, the attempt to stick to effective money management in trading often ends in failure.
8. Set the position size and take profit level
It is a key element of money management in trading. Before trading, a trader must determine:
🪄Position size
🪄Stop loss size
🪄Take profit level
9. Cut losses quickly and let profits grow
According to this money management advice, you should close those trades that lead to losses according to your trading system on time and get the most out of winning trades.
Enjoy your trading journey!
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
Golden Rules for Traders by Rocket BombHi, my dear friends!💋 Let's talk about Perfect trade. Are they exist?🧐
The “perfect trade” is what every trader strives for. But in order to be able to make "perfect deals", you need to remember some rules before entering each of them.
First rule: 🔥Realistic expectations🔥 - Sorry, but not every trade will be profitable. REMEMBER That !!!
The first step to a perfect trade is to accept and deal with losses, this will help you get a clear mind for the next trade, which may bring you a profit.
Second rule 🔥Managing Your risk🔥
We can't control the market, but we can control ourselves
The second step to a perfect trade is to control risk. You must clearly calculate how much you can lose on each trade.
The third rule of "perfect trading" 🔥Assess Market Condition🔥
Step Three - We need to understand the state of the market and the structure of the market. - Is the market slow and volatile or is it trending? And accordingly, have tactics for each of them.
The fourth rule -🔥 STRATEGY 🔥
Step four: NEVER LEAVE YOUR STRATEGY !!!
There are different strategies in my trading plan, that are used in different market conditions.
💡Even if the trade is unprofitable, if I follow these four steps, it will still be the perfect trade.💪🏻🚀💣
Thanks for Your attention🙏🏻
Stay in touch🧡
Sincerely yours Rocket Bomb🚀💣
Trend Continuation Patterns & Reversal Patterns🚀💣Hi, friends! Let's keep learning?😉
Today we are talking about <> and <> of Technical Analysis 😊
- this girls try to tell You more details😉
Hope, It would be helpful for You♥️
🐂Bull flag🐂
The principle of bullish flag trading, like all technical analysis figures, is the same - a breakout of the control point is required. As soon as a breakdown has occurred, you can immediately post the target. The target in a bull flag will be the height of the pole.
There is one more feature of this figure - the canvas of the flag should be tilted against the main trend.
🐻Bear flag🐻
For the most profitable entry, it is better to enter into a deal with a pending order. As soon as the trade is entered, the take profit is placed at the height of the pole from the breakout point of the pattern.
🐂Bullish pennant🐂
The pattern trading rules are identical to the bull flag trading rules.
🐻Bearish pennant🐻
The trading rules are the same as for the bear flag .
💥Head & Shoulders Pattern💥
After the pattern has become clearly visible, namely, the right shoulder is clearly visible, the trader needs to wait for the neckline breakout. Breakouts occur on strong impulses with a sharp increase in volume . Therefore, in order not to miss the entry and enter at the best price, it's better to use a sell stop order.
To calculate where the price will go after the breakout of the pattern, it is enough to measure the height of the pattern (vertical from the maximum of the head to the neckline) and postpone it to the breakout point.
💥Inverted Head & Shoulders Pattern💥
An inverted head and shoulders pattern occurs in a downtrend and heralds an uptrend. The rules for working on a figure are similar to the previous ones.
It is worth noting that the head and shoulders pattern is rarely encountered in its pure form. Be careful!
💥 Double Bottom Pattern 💥
After you have identified the pattern on the price chart, you need to wait for the breakout of its resistance line. If the price has broken through the resistance, then the target will be the width of the pattern's range - the distance from the lowest point to the resistance.
💥Double Top Pattern 💥
A double top is similar to a double bottom . The only difference is that this pattern is reversed and occurs on uptrends.
The number of extrema in a pattern can be not only double, but also triple, and even more. But the rules of work will be identical for everyone - enter on a breakout, postpone the target to the height of the figure and wait for its execution.
💥Diamond💥
We measure the height and wait for the breakdown of the diamond. If a breakout has occurred, then the price movement target will be the height of the pattern from the breakout point.
💥Cup & Handle💥
Trades are opened on the breakdown of the "handle" upwards. Target is the height of the figure.
Thanks for Your attention🙏🏻
Stay in touch🧡
Sincerely yours Rocket Bomb🚀💣
Maslow's Pyramid & Rocket Bomb Descriptions in trading 🚀💣Hello, my dear lovers of self-development!💙💛
I haven't posted any EDU Posts for a long time. For me, each of them is special, in which I put all my soul and creativity 🤗
Today I would like to talk with You on very interesting topic - which calls <>!
This post was created by myself this summer, SPECIALLY MY THOUGHTS, based on Maslow's Pyramid of Needs.
If you start reading modern literature, You'll understand, that most authors think, that Maslow's pyramid no longer works, or doesn't fully work. 🤷🏻♀️
⚡According to Maslow, higher-level needs can only arise when lower-level needs are met⚡
Someone may disagree with this, but personally for me, everything is very transparent and obvious. Only by closing the basic needs (basic knowledge in trading) we go further, we simply don't think about what we have attained the truth in a certain sense.🙏🏻💥
Now it has become fashionable in the world to refute theories and make adjustments in it🙄 But the wisdom, that has been passed down to us for centuries can't be ignored.🙏🏻
Today I would like to share with You Maslow's Pyramid in my descriptions for traders. Hope You'll like it🙏🏻
⚡At the first stage, a trader tries to cover the most basic needs: most often a person comes to the market for money, and that's the physiological need in trading.
⚡Going to the second stage, he seeks safety, because he faces difficulties ... and only if he realizes, that on the first stage he made a mistake (down arrow), after re - thinking, he can move on to the third stage (up arrow).
But that's a huge work. It takes time and endurance , patience and calmness, desire and fortitude!💪🏻
⚡With the transition to the third stage, a person becomes more successful, he change his thinking . And that's a great sign on the road to success.💪🏻 He begins to be proud of himself, but realizes, that there is an opportunity to develop further.🚀
⚡The fourth stage - he start makes a good profit, the trader, by default, accepts all previous experience and moves on, filled with motivation and success.💪🏻
⚡And the fifth stage - most important thing for any trader is self-realization. A trader understands, that he is successful, self-sufficient and he has something to share with other traders ... he can motivate, inspire, and that's the highest reward !!!💪🏻
Only 5% of traders reach the 5th stage, and maybe less.🔥
Do you strive to be part of that 5 percent?☝🏻🧐 At what stage do you feel yourself?
Thanks for Your attention🙏🏻
Stay in touch🧡
Sincerely yours Rocket Bomb🚀💣
How to trade <<Divergence>> in the market?Hello, friends! I have prepared a very important and informative post for You. I hope you'll like it♥️
Let's talk about Divergence🧐
The word divergence comes from the Latin "divergere" - divergence, deviation. Divergence is a situation when the movement of the indicator doesn't match the movement of the price.
Usually, divergence happen when, for example, the market has reached some new levels, but the indicator cannot reach its previous values. Or, the opposite situation is possible, when the market dropped below a certain level at which it stopped earlier, while the indicator can't reach its previous value.
This situation indicates, that the latest market movement is not reliable and is not supported by a large number of participants. So, almost always, after such a breakout in the market, either a reversal or a flat, or it can be a short-term stop followed by a continuation of the trend.
There are two main types of divergence:
Bearish. When there is a higher price high with a lower high of the indicator. In this case, a down trend reversal is likely.
Bullish. When the level is a lower price low with a higher low on the indicator. In this case, we forecast a trend reversal upward.
What is the practical significance of divergence?
What is the practical significance of divergence?
In practice, it allows you to exit the market in a situation when, with long-term growth, we see the threat of a reversal. Divergence tells you exactly where this movement should start.
This allows you to enter the market on time and exit on time. This signal is so significant, that even if a trader uses only fundamental analysis and doesn't use indicators, needs to start at least one oscillator to watch the divergence.
Thus, the appearance of a divergence may indicate the end of the current movement. Usually, the appearance of a divergence may indicate the end of the price movement and a possible strong price reversal or correction.
Divergence is an important and strong signal. As with other patterns and signals, the higher timeframe, the more likely it is!
Now let's talk about classes of Divergence
Class A Divergence
The weakest type of divergence. Talking about a slow, gradual reversal.
In the case of a bearish divergence, the indicator shows a lower high at a new high on the chart. For a bullish, on the contrary - we see a new price low with a higher low on the indicator.
❌It's not recommended to open trades on such a signal; it's better to wait for additional confirmation.
Class B Divergence
The price forms a double top, while the indicator shows a lower high - that's true for a bearish divergence. For bullish - we see a double bottom on the chart and the indicator shows a higher low.
Class C Divergence
The weakest species. Usually formed in a volatile market. ❌It's better to avoid such signals.
If the price creates a higher high, and the indicator shows a double top, it's a bearish divergence C. If the chart shows a lower low, when the indicator shows a double bottom, it's a bullish divergence C.
Hidden Divergence
In addition to the types of divergence discussed above👆🏼, there is also a hidden one. It's even more effective than those listed above, although it appears quite rarely. Enter on such a signal only in the direction of the current trend.📌
If you see a lower price high with a higher high of the indicator, it is a bearish hidden divergence. It is true for a bullish to find a higher low on the chart with a lower low on the indicator.
What conclusions can we draw?
🔸The presence of a Divergence often, but not always, means a trend reversal💡
🔸Divergence is a relative signal that depends on the chart time frame, and the the type and indicators.
🔸It will not be possible to determine the ideal entry moment, therefore it is necessary to use also other indicators and patterns.
🔸This strategy works in theory on all instruments, but in practice it is suitable for those that tend to long-term trends without corrections.
If You have any questions - I'm waiting for You in the comments)
Stay in touch with me💋
Always sincere with You🧡
Your Rocket Bomb🚀💣
How to use Fibo levels in trading?Hi guys, as I promised, this post is about Fibonacci Levels for YOU!🧡
Many newbies on the market, and I'm sure this post can be helpful, so must be repeated 💪
Leonardo Fibonacci is a great mathematician who lived in the XI century. The scientist deduced a number of natural numbers, which later began to bear his name.
Each number in the series was the sum of the two previous numbers: 1 + 1 = 2; 1 + 2 = 3; 2 + 3 = 5 etc.
The result is a series of numbers: 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, etc.
Fibonacci numbers have some properties:
📌Division of any number of the series into the subsequent tends to 0.618 (the golden ratio in ancient Greek and ancient Egyptian cultures);
📌dividing any number of the series by the next + 1 tends to 0.382;
📌dividing the subsequent number of the series by the previous one tends to 1.618;
📌division of the number of the series by the second number preceding it tends to 2.618.
Fibonacci numbers are often used not only in technical analysis , but also in physics, astronomy and other disciplines.💪🏻
Fibonacci levels are a tool that sets horizontal support and resistance levels on the price chart based on price movement.
It's important to understand, that Fibo levels work well when there is a trend in the market.
How to determine Fibonacci levels?
To determine Fibonacci levels, you need to find the recent significant high and low of the last price movement. When plotting levels for a downtrend, the first point should be at the maximum and the second at the minimum. For an uptrend, you need to do the opposite. Click on the low of the price swing and drag the cursor to the high. In this case, the construction of levels always occurs from left to right.
How to trade by Fibonacci levels?
The basic variant with an upward movement: we determined the minimum and maximum, set the levels, waited for a rollback, entered the market. The price continues to move - we drag the levels to a new maximum, wait for our rollback level, and enter the market.
In a downward movement, we do the same, entering a movement on a pullback.
The technical analysis usually uses the number 0.618 or 61.8%, 0.382 or 38.2%, as well as the psychological half (middle) of 50%.
✔ Very often, based on these coefficients in the technical analysis of the market, Fibonacci lines, Fibonacci levels and Fibonacci periods are built.
Fibonacci lines are built relative to significant highs / lows and represent support or resistance lines, from which they make a purchase or sale.
Fibonacci numbers - the magic of numbers that works in trading and in everyday life .
💥You can simply draw arbitrary horizontal lines on the chart, and ... oh that's mystic... they will also be worked out both in the past and in the future.💥
We can make some conclusions:
🔵Fibonacci tool draws support and resistance lines on the chart based on price movement;
🔵the Fibonacci tool is always applied on the price chart from left to right, both in the case of long positions in an uptrend, and in the case of short positions in a downtrend;
🔵the levels marked between the beginning and the end of the price movement are correction levels, they show which levels the price is likely to return to;
🔵the most common Fibonacci retracement levels are 38.2%, 50% and 61.8%, they are often used to enter the market;
🔵there are two ways to use correction levels to enter the market: aggressive (entry at each of the levels) and passive (waiting for the price to correct in the originally observed direction);
🔵It's important to note that Fibonacci levels are not a trading system, they are an additional tool that only suggests possible correction levels; it should be used only in combination with a trading system or as part of a trading system.
I hope everything was clear for You, and You found this post as helpful🙏🏻
I really wanna be useful to you, guys!
I make every post with love and it brings me extraordinary pleasure!🙏🏻
Thank you for staying with me💋
Always sincere with You🧡
Your Rocket Bomb🚀💣
How to tame Crypto Market?🤑Hello, dear bottom catchers😉
It's difficult looking at the market correction. Waiting for a strong and prolonged correction is doubly difficult. Fears and concerns are very easy to understand, when we see today's prices 😱
Each of Us wants to catch the very bottom. With a high probability I can say, that's almost impossible!
You can ask me <> I can answer You😉
1. Undervalued buy orders. Trader expects to see price too low and misses the opportunity to buy during the correction
2. The price hits the bottom too quickly and simply "flies" up. That's very typical of Bitcoin
3. Greed. That's a terrible vice. A trader, seeing, that the price goes down for a long time, constantly looks at the movement and tries to predict and grab the bottom, but that's impossible without experience.
I can give You advice for protect Yourself!💥
Split Your buy orders🔥🔥 (that's part of my strategy).
What does it mean?
Using Fibo levels, find the "golden mean" of the retracement and set several buy orders in this zone.
(How to use Fibo levels, You can find in my next EDU post, stay tuned )
What will we get from it?💥
1. We don't have to worry about missing the opportunity to buy at a discounted price. By splitting orders, we can average the average purchase price.
2. You don't have to sit at the computer all day and not spoil your nerves. Take a rest. And You'll forget about greed
What do you say, friends?
I really wanna be useful to you, guys!
I make every post with love and it brings me extraordinary pleasure!🙏🏻
Thank you for staying with me💋
Always sincere with You🧡
Your Rocket Bomb🚀💣
9 Golden Rules of Effective Money Management 9 Rules of Effective Money Management in Trading
1. Choose the correct position size.
The basic rule is one: don't forget to minimize your risk and correctly calculate position size in every deal.
For example, you can invest all initial capital in one trade. But why? After all, you can never be sure, that particular deal is guaranteed to bring profit. Many professionals use the "Rule of 2% " - when in one position a trader risks no more than 2 percent of him deposit. In this case, if the trade is closed at a loss, you'll only lose a small amount of money.
There is also an alternative approach, where the trader risks a fixed amount of money (for example, $ 5), that he would be comfortable with losing.
2. Don't trade too aggressively
One of the biggest mistakes is too aggressively trading . Even a small series of several losses in a row, with an incorrectly selected position size, can lead to a significant decrease in the size of your deposit.
3. Always set Stop Loss
Placing a Stop Loss order for each trade has practically no drawbacks, only advantages. Very often, traders become emotionally attached to their trades, which can be fatal.
For example, if a trade becomes unprofitable, an emotionally involved trader will not want to close it and will believe, that the price can still turn around and go in the right direction. Setting a stop loss helps overcome this problem. Thanks to the stop order, you can strictly control the ratio of profit and risk. You should always follow this rule, so that money management in trading gives you tangible advantages, and the deposit doesn't melt before our eyes.
This is one of the basic principles of risk control. Certainly not the only one.
4. Be careful with leverage
In the cryptocurrency market, many traders use leverage. It can be useful, but using it can also lead to huge losses.
As long as you rationally sizing your position and not using too high leverage, then you are fine, you are safe.
5. Keep your emotions under control
Capital management in the market full of emotions: from excitement and euphoria to fear and frustration. Try to free your mind of emotions - this will help you make rational decisions. The easiest recipe not to lose money is to take control of your emotions. All wrong trading decisions are usually made under the influence of emotions.
6. Take responsibility for your results (both losses and profits)
How to manage capital? First of all, with full awareness and responsibility. Traders must recognize, that their trades can be both profitable and loss-making. Assuming every transaction will be successful you can be wrong. A realistic trader knows that any result is possible and is ready for it, while accepting at the same time what the market will bring to him.
7. Manage your risk and avoid overtrading
A trader should get into the habit of analyzing all types of risks. You should zvoid overtrading, which is often the case for newbies traders , who don't have a plan. With such an approach, the attempt to stick to effective money management in trading often ends in failure.
8. Set the position size and take profit level
It is a key element of money management in trading. Before trading, a trader must determine:
🪄Position size
🪄Stop loss size
🪄Take profit level
9. Cut losses quickly and let profits grow
According to this money management advice, you should close those trades that lead to losses according to your trading system on time and get the most out of winning trades.
Enjoy your trading journey!
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
Trading vs Holding 🤯The profitability of cryptocurrencies over a long period is very attractive. So why just not invest in cryptocurrencies according to the <> strategy and keep them a couple of years? 🤔
💥It's hardly possible to give an unequivocal answer to that question, since everyone has their own strategy, psychology, and risk appetite.💥
👍🏻 Some arguments in favor of trading: 👍🏻
👉🏻 not all cryptocurrencies live for a long time, and those assets that are now leaders can become outsiders after only a year or two;
👉🏻 investing in a Buy & Hold strategy is justifiable if there is significant free capital, that can be diverted from circulation for a long period of time.
❗❗You can increase your profitability if you combine the holding strategy with active trading (or at least re-balance the portfolio from time to time).
👉🏻Giving preference only to long-term investment, it's impossible to acquire trading skills, which, by the way, can become an additional source of income.
👉🏻As for the arguments in favor of the Buy & Hold strategy, the image illustrates them most clearly🤣
Thus, trading allows you to profit in the short term, and long-term investment doesn't require frequent activities, as well as the study of various indicators and trading strategies.
However, in both cases, a rational choice of assets, discipline and balanced decision-making are required.
In any case, if you choose one of the strategies or their combination, you can't do it without knowledge and skills.
What do you choose for trading?🧐
Therefore, I always urge you to develop, learn something new, and people who have long been on the market - don't stop self-development.💪🏻💪🏻
Guys, if you liked my post, put me 👍🏻 and write your thoughts in a comments✍🏻
Don't forget to subscribe, if you aren't already😆
And of course, stay with me, dear💓💓💓
Your Rocket Bomb🚀💣
Choose YOUR own CORRECT way 🙏🏻Now is the time, when many newcomers enter the market, why I consider it's important to repeat some of my previous posts.
And of course "Repetition is the mother of learning"😉
Indeed, the Internet are full of different advertisements, that making money can be easy and effortless on the Crypto market, but that's not true.
Now I'm ashamed to admit, but ones, I came here for the same reason.🤦🏻♀️ And like many newbies, I made many mistakes.
Any person, who wants walking trader's journey has initially two roads - (on the picture I marked them as "correct" and "wrong"). That's my subjective vision, which I demonstrate you after passing the difficult path of my own.
WRONG WAY:
◽ Waiting for quick money.
◽ Changing the trading system after each loss.
◽ Using different approaches without understanding them.
◽ Looking for a trading guru, who promises a big income in the shortest time.
CORRECT WAY:
◽ Realize that's ok to loss money, but need try to control risks and analyze our own mistakes.
◽ Desire to develop Yourself . Create your own trading system and improve it.
◽ Carefully study the main approaches, analyze what works best for you.
◽ Find someone, who will point out Your mistakes, can help with advice, but wouldn't do all work for you.
Having gone the wrong way, I decided to go back and start from the very beginning. And I'm not going to stop!Only forward!
I really hope my post helps newbies. It's impossible to avoid all mistakes, everyone has their own path. But how comfort it will be, that's all depends on you!
But we Ukrainians say: "Forewarned is forearmed!"
I wish You patience, strength, perseverance and a huge desire to
conquer the market, because every minute it is filled with different opportunities. But without knowledge it will be very difficult to "catch" these opportunities!
Stay safe and optimistic🙏🏻
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
⭐ STAGES OF TRADER's FORMING ⭐Hello! Traders professional growth involves going through several stages.
Let's talk more about them.
🔥1. Unconscious incompetence
💡 randomly opens and completes transactions without a specific trading system;
💡 doesn't care about risk management;
💡 often changes the direction of trade on the spot, following the price;
💡 keeps afloat only for small successful deals and doesn't care about losses at all;
💡 but as soon as loses, motivation immediately runs out.
🔥 2. Conscious incompetence
💡 Do you change your trading system several times in half a year without ever exploring a single one?
💡 You are actively looking at your trading history trying to figure out what you are doing wrong.
💡 Are you still making impulsive mistakes that cost a lot of money?
💡 Do you repeat the same trading mistakes again and again?
🔥3. The moment of "EURECA"
💡 No longer changes the system, but focuses on main and works with it.
💡 Begins to maintain a trading plan and a trading journal.
💡 The understanding comes, that trade is a daily routine.
💡 Understands, that in order to earn money, he needs to work on all the components of his system.
🔥 4. Conscious competence
💡 Understood the rules of the game and stopped losing money.
💡 Begins to make a steady profit.
🔥5. Unconscious competence
That's a stage of mastery👊🏻. You follow your trading plan on autopilot.✈
Just one question will help you to verify have you reached the highest level or not: ❗do you feel stress, when you're trading ? If so, then you have not reached this stage.❗
Thank you for staying with me💋
Always sincere with You🧡
Your Rocket Bomb🚀💣
Fibonacci Levels - Rocket Bomb's EDU post 🔥Hi guys, as I promised, this post is about Fibonacci Levels for YOU!🧡
Leonardo Fibonacci is a great mathematician who lived in the XI century. The scientist deduced a number of natural numbers, which later began to bear his name.
Each number in the series was the sum of the two previous numbers: 1 + 1 = 2; 1 + 2 = 3; 2 + 3 = 5 etc.
The result is a series of numbers: 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, etc.
Fibonacci numbers have some properties:
📌Division of any number of the series into the subsequent tends to 0.618 (the golden ratio in ancient Greek and ancient Egyptian cultures);
📌dividing any number of the series by the next + 1 tends to 0.382;
📌dividing the subsequent number of the series by the previous one tends to 1.618;
📌division of the number of the series by the second number preceding it tends to 2.618.
Fibonacci numbers are often used not only in technical analysis , but also in physics, astronomy and other disciplines.💪🏻
Fibonacci levels are a tool that sets horizontal support and resistance levels on the price chart based on price movement.
It's important to understand, that Fibo levels work well when there is a trend in the market.
How to determine Fibonacci levels?
To determine Fibonacci levels, you need to find the recent significant high and low of the last price movement. When plotting levels for a downtrend, the first point should be at the maximum and the second at the minimum. For an uptrend, you need to do the opposite. Click on the low of the price swing and drag the cursor to the high. In this case, the construction of levels always occurs from left to right.
How to trade by Fibonacci levels?
The basic variant with an upward movement: we determined the minimum and maximum, set the levels, waited for a rollback, entered the market. The price continues to move - we drag the levels to a new maximum, wait for our rollback level, and enter the market.
In a downward movement, we do the same, entering a movement on a pullback.
The technical analysis usually uses the number 0.618 or 61.8%, 0.382 or 38.2%, as well as the psychological half (middle) of 50%.
✔ Very often, based on these coefficients in the technical analysis of the market, Fibonacci lines, Fibonacci levels and Fibonacci periods are built.
Fibonacci lines are built relative to significant highs / lows and represent support or resistance lines, from which they make a purchase or sale.
Fibonacci numbers - the magic of numbers that works in trading and in everyday life .
💥You can simply draw arbitrary horizontal lines on the chart, and ... oh that's mystic... they will also be worked out both in the past and in the future.💥
We can make some conclusions:
🔵Fibonacci tool draws support and resistance lines on the chart based on price movement;
🔵the Fibonacci tool is always applied on the price chart from left to right, both in the case of long positions in an uptrend, and in the case of short positions in a downtrend;
🔵the levels marked between the beginning and the end of the price movement are correction levels, they show which levels the price is likely to return to;
🔵the most common Fibonacci retracement levels are 38.2%, 50% and 61.8%, they are often used to enter the market;
🔵there are two ways to use correction levels to enter the market: aggressive (entry at each of the levels) and passive (waiting for the price to correct in the originally observed direction);
🔵It's important to note that Fibonacci levels are not a trading system, they are an additional tool that only suggests possible correction levels; it should be used only in combination with a trading system or as part of a trading system.
I hope everything was clear for You, and You found this post as helpful🙏🏻
I really wanna be useful to you, guys!
I make every post with love and it brings me extraordinary pleasure!🙏🏻
Thank you for staying with me💋
Always sincere with You🧡
Your Rocket Bomb🚀💣
Wedges Pattern by Rocket Bomb 🚀💣Hello, my dear friends! As I promised, today we are talking about Wedges Patterns!
Link on a good view👇🏻
Wedges are some of the main classical figures in technical analysis . There are two types of wedges:
- Rising Wedge pattern - both sides of the figure are directed up;
- Falling Wedge pattern - both sides of the figure are directed down.
✔A rising wedge pattern is formed when price increases slow and a tapering pattern forms. Price can't go longer rise further, but at the same time, as if they continue to gradually update local highs. That's suggests, that the pressure of sellers (bears) is gradually increasing in the market.
✔A downward wedge pattern is formed when price decline slows down and a tapering pattern is formed, and volume indicators gradually decrease. Prices are no longer able to decline further, but at the same time, as if they continue to gradually update local lows. That's suggests, that the pressure of buyers (bulls) is gradually increasing in the market.
💡My picture shows, that the “Wedge” directed 👇🏻 down is a bullish 🐃 model, since the trend is up and the price has broken the resistance line (went up).
And the “Wedge” directed up ☝🏻is a bearish 🐻 model, as the trend is directed down and the price has broken through the support line (went down).
These signals are strong and YOU can trade on them.
💣But if the price in both cases would go in the opposite direction (the opposite direction to the trend), then this would be a weak signal. Trading in this case is not recommended, as it's too risky. 🙅🏻♀️
Guys, thanks for reading me!🙏🏻
Subscribe and stay with me forever🧡
I'm appreciate Your support🥰
Your Rocket Bomb🚀💣
PS : 👇🏻👇🏻👇🏻Below I put links on my previous ideas 👇🏻👇🏻👇🏻
Motivation vs Engagement in trading!What are Motivation and Engagement in trading? 🧐
What are Motivation and Engagement in trading?
Motivation is defined here as the energy, drive, interest, and inclination to learn and achieve goals.
Engagement is defined here as the behaviours following from this energy, drive, interest, and inclination. Motivation and engagement are desirable ends in themselves (i.e., it is great to be motivated and engaged). Motivation and engagement are also a means to desirable ends such as achievement (i.e., motivation and engagement lead to great things).
There are four areas of motivation and engagement, and 11 facets of motivation and engagement within these four areas.
Positive Motivation
• Self-belief. Self-belief is an essential feature of any successful trader. Belief and confidence in ability to meet challenges you face in the market, and to perform to the best of your ability .
• Valuing. Valuing is the extent to which you believe what you learn is useful, relevant, meaningful and important. You can assess the importance of the deal in a given period of time. Assess risks and possible rewards.
• Learning focus. Traders, who are learning focused are interested in learning, developing new skills, improving, understanding new things, — not just for rewards they become more successful.
I ALWAYS DO ACCESS ON DEVELOPMENT !!!NEVER STOP DEVELOPING !!
Positive Engagement
• Persistence. Persistence is shown by traders when they keep trying to work out an answer or to understand a problem, even if that problem is difficult or challenging.
• Planning (and monitoring). Planning refers to how traders plan assignments, deals. Monitoring refers to the strategies used to keep track of their progress.
• Task management. Task management refers to how traders use their time, organise their timetable, and choose their potential deals.
Negative Motivation
• Anxiety. Anxiety has two parts: worrying and feeling nervous. Worrying is fear about not doing very well , miss an opportunity, losse money etc. Feeling nervous is the uneasy or sick feeling traders get when they think about or do their work.
• Uncertain control. Traders have an uncertain or low sense of control when they are unsure how to do well or how to avoid doing poorly.
• Failure avoidance (or fear of failure). Traders are traing to failure avoidant but the main task is to learn how to control risks in each deal.
Negative Engagement
• Self-sabotage. Traders self-sabotage when they do things that reduce their success at the market. Example: Be afraid to enter a deal too early and enter a deal too late.
• Disengagement. Disengagement happen a trader after several losing trades. The main thing is not to give up, at such moments you need a support of more experienced traders who went through the same feelings.
TO BECOME A SUCCESSFUL TRADER WITH FULLY ENOUGH POSITIVE MOTIVATION AND ENGAGEMENT !!!
Holy Grail Trading System Hello, my lovely friends!!!💓
🔥Today I have something spesial for you today! 🔥 That's Holy Grail Trading System !!!
By “Grail” in trading we mean a unique trading system, that can continuously generate profits.
According to the legend of the Holy Grail, those who drink from this cup receive immortality.
The idea of this scheme is simple. Only by applying of those three conditions You'll become possible to significantly increase capital💰
🧐Let's go briefly through all elements.
The first element, trend trading, I think, doesn't need unnecessary comments. Trending strategies for a trader are the best way to make money.
But why is this element alone not enough? Even if a trader has an ideal trend trading system, in the absence of a trend, he will lose money.
The trader should be where there is volatility, because volatility = profit.
The ship in full calm stands still, no matter what sails he had. There is an element of luck.
Yes, there is place for external circumstances on the market - there is nothing to be done with it. Not everything is controlled by the trader. It's especially important for risk-averse traders to learn not to get into the market during periods of low volatility .
At the last stage, trader need to find balance between the desire to squeeze as much as possible out of the market and the ability to calmly, without nerves, sit out corrections.
When the market turns against the position, the trader still doesn't know whether that's a correction or a trend reversal. While sits in position and makes a decision, this movement eats up part of the floating profit or creates a loss. If the trend doesn't resume, a late trader has to close a losing position.
The risk should be approximately, that trader can make such a mistake a sufficient number of times and still be afloat💪🏻
Guys, I try very hard for you💓, I carefully select the material, I want to express my thoughts as clearly as possible! 💋I like to teach, I get special pleasure of it !!!
Support my enthusiasm with like!
Write in the comments : It was clear for you of not? Maybe you have any questions!
I'm glad of your feedback !!!
Always Yours Rocket Bomb🚀💣
Discipline or Motivation?💥Welcome friends!💋 What's more important to you: Discipline or Motivation?
Today we'll talk about it.😊
There are two main ways to force yourself to do something:
⚡ the first, most popular, is try to motivate yourself;
⚡ the second, less popular, is to develop self - discipline.
What's the difference?🧐
Motivation is based on the erroneous assumption, that a specific mental or emotional state is needed to complete a task.
Discipline separates activity from moods and feelings and thus bypasses the problem. The consequences are staggering.
Simply put, you don't have to wait until you'll in Olympic form to start training. No, you train to achieve this form!!!!
Why discipline is more important than motivation ? IMHO🧐
Chasing motivation means, that we need to do only what we're in the mood for.
The trick is to cut the connection between feelings and actions, to do right thing anyway. You will feel good and energetic afterwards.
To achieve success with only motivation is the wrong way. You risk losing your enthusiasm very quickly.
Since real life in the real world sometimes requires people to do things that can't always be done only with enthusiasm, sometimes willpower is needed.
Motivation has a tiny shelf life and needs to be constantly updated.
Motivation is not the best foundation for your normal daily activities, and it is unlikely to help you achieve long-term results.
Discipline is a motor, that once started and constantly supplies energy to You.
For consistent, long-term results, discipline trumps motivation. Discipline is when you do something even when you're not in your best condition.
Discipline is more or less permanent, and motivation is fleeting.
How to develop discipline? 🧐
You need to acquiring habits - starting with small, even micro ones, gaining momentum, using them to make further changes in daily life.
THE MAIN ADVICE TO YOU: Even if it's difficult for you - fight!🔥 The hardest fight is the fight with yourself! But the victory would be so sweet💪🏻
Thanks for Your attention🙏🏻
Stay in touch🧡
Sincerely yours Rocket Bomb🚀💣
Choose YOUR own CORRECT way 🙏🏻My dear - dear Friends, probably one of the biggest reasons, newbies come to the crypto market is quick and easy profits.
Indeed, the Internet are full of different advertisements, that making money can be easy and effortless on the Crypto market, but that's not true.
Now I'm ashamed to admit, but ones, I came here for the same reason.🤦🏻♀️ And like many newbies, I made many mistakes.
Any person, who wants walking trader's journey has initially two roads - (on the picture I marked them as "correct" and "wrong"). That's my subjective vision, which I demonstrate you after passing the difficult path of my own.
WRONG WAY:
◽ Waiting for quick money.
◽ Changing the trading system after each loss.
◽ Using different approaches without understanding them.
◽ Looking for a trading guru, who promises a big income in the shortest time.
CORRECT WAY:
◽ Realize that's ok to loss money, but need try to control risks and analyze our own mistakes.
◽ Desire to develop Yourself . Create your own trading system and improve it.
◽ Carefully study the main approaches, analyze what works best for you.
◽ Find someone, who will point out Your mistakes, can help with advice, but wouldn't do all work for you.
Having gone the wrong way, I decided to go back and start from the very beginning. And I'm not going to stop!Only forward!
I really hope my post helps newbies. It's impossible to avoid all mistakes, everyone has their own path. But how comfort it will be, that's all depends on you!
But we Ukrainians say: "Forewarned is forearmed!"
I wish You patience, strength, perseverance and a huge desire to
conquer the market, because every minute it is filled with different opportunities. But without knowledge it will be very difficult to "catch" these opportunities!
Stay safe and optimistic🙏🏻
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
MA on BTC 🚀💣How to use moving averages!!!
A moving average is used to help us forecast future prices and help us identify a trend. By looking at the slope of the moving average, we can better determine the potential direction of market prices 📈
There are two types of moving averages✌🏼
🔵Simple MA
🔴Exponential MA
With the use of SMAs we can identify if a pair is trending up, trending down or ranging. The one problem with SMAs is that they are susceptible to spikes. Signals can be false.
EMA’s let’s traders know what is happening in more recent price action.
Disadvanrege of using EMAs is that consolidation periods can present fakeouts
The best use MAs in conjunction to eachother. Wait for crosses and use the MAs as a confirmation before enter into deal
GOOD LUCK🧡
OUR health 🧡Hello, friends!💋 It occurred me write a very useful post for you! 💪🏻
❗❗The trader's activity is filled with daily stresses, worries and psychological stress. At the same time, most traders do not pay due attention to maintaining their health.❗❗
Reasons for Careless Traders' Health
💥Belief in the magical power of money. 💥
When you just start the path to big money, it seems that you can buy everything on them. But, unfortunately, this is not entirely true. You can buy the services of the best doctors in the world without any problems. The problem is different: medicine, unfortunately, is not omnipotent yet.
💥Risk appetite💥
Traders are accustomed to take risks, many of them have an increased craving for adventurism. And adventurous natures can even put their health at stake.
💥The habit of stress and nervous overload💥
Traders are used working in a stressful environment, which seems normal for most of them. People don't think about the consequences of constant stress.😔
So it shouldn't be!!!🙅🏻♀️ Let's develop and get better together💪🏻
💥Underestimation of danger💥
Many of us consciously sacrifice health in order to achieve the goal. Worst of all, when a trader (like many businessmen) has an attitude to health as a resource that can be invested in business. The peculiarity of the psychology of a person who tends to success, like an armored train, is the ability to surrender to the business without a trace.
🔥What should be done to reduce the impact of negative factors on the psychological state?
🔥How to maintain and protect your health?
🔥How we can become strong and successful person?
🔥How to find time for a healthy lifestyle?
❗❗❗Don't neglect such important knowledge. ❗❗❗
🔥Start taking care of your health right now!🔥
✍🏻If you liked my post, put like, write comments, ...
Always Your Rocket Bomb🚀💣