Have you ever wondered what helped all those professionals of Wall Street become successful? You will be surprised, but the key to their reached heights is hidden in their mistakes. Yes, that is right. Most professional and successful traders made many mistakes before they got to the top.
Making mistakes is ordinary and sometimes even necessary because you...
Descending triangle formation is a classic reversal pattern. It signifies the weakness of buyers in a bullish trend and bearish accumulation.
⭐️The pattern has a very peculiar price action structure:
Trading in a bullish trend the price sets a higher high and retraces setting a higher low.
Then the market starts growing again but does not manage to set a new...
A Cup and Handle is a bullish continuation chart pattern that marks a consolidation period followed by a breakout.
Chart patterns form when the price of an asset moves in a way that resembles a common shape, like a rectangle, flag, pennant, head and shoulders, or, like in this example, a cup and handle.
There are two parts to this chart pattern:
The cup
The...
Here is the list of thing that you should learn in advance before you start trading on a real account.
1) Open a demo (practice) account and learn to execute trades without making errors
2) Study the methods of great traders and financial minds throughout history - Jesse Livermore, W D Gann, Charles Dow/Dow theory, Paul Tudor Jones,Richard Wyckoff.
Learn...
While some trading mistakes are unavoidable, it is important that you don’t make a habit of them and learn from both successful and unsuccessful positions. With that in mind, these are the 10 most common trading mistakes.
1 - Not researching the markets properly
Some traders will open or close a position on a gut feeling, or because they have heard a tip.
It...
Losses are part of this business. People do not react well to losses. Badly handled losses in trading can trigger bigger losses. Furthermore, these have the dangerous potential of wiping out entire accounts. If you want to make it as a trader you need to have a solid psychological approach to accept and handle losses.
Lots of internet articles are suggesting that...
Hey traders,
In this article, we will discuss a very important term in trading psychology - paralysis by analysis.
Paralysis by analysis occurs when the trader is overwhelmed by a complexity of the data that he is working with. Most of the time, it happens when one is relying on wide spectra of non correlated metrics. That can be various trading...
Do you know what’s more important than winning in trading? It is knowing exactly why you actually won . Why? So that you can do it constantly. Needless to say, it is equally important to know why you lost when you lost.
The successful trader is constantly winning money, no matter the conditions. The economy may be in recession … or not … Algorithmic trading...
Hey traders,
In this video, I will teach you how to apply Fibonacci channel.
We will discuss theory first.
Then, I will show you how to apply that on a real market example.
❤️Please, support this video with like and comment!❤️
I hear many traders talking about gut feeling, especially when referring to very good traders. I hear them saying that you will, at some point, feel what the market will do next. Many explain it as a sixth sense or cannot it explain it at all. I say to them the explanation behind is a much simpler one.
Gut feeling in trading, in most of the cases, is nothing else...
Hey traders,
In this educational article, we will discuss 3 stages of the evolution of a trader.
Stage 1 - Unprofitable trader 😞
The unprofitable trader has very typical characteristics:
-total absence of trading skills
Most of the time, people open a live account simply after completing some beginners course like on babypips website.
Being sure that the...
Hey traders,
In this educational video, we will discuss why Top-Down Analysis
is so important and how to apply it in practice.
The video includes important theory and real market examples.
❤️Please, support this video with like and comment!❤️
Yesterday, after more than 10 years, the Bank of Japan intervened in the market.
UsdJpy pair was very volatile and has a 550 pips daily range from top to bottom. However, thinking of previous interventions, yesterday's volatility represented around 2.5% if we take into consideration the daily close when in the past we had 5% moves...
But, what do we know from...
Every day I get many questions from traders and more than half of them are: "What will X asset do today, will it rise or fall" or "Do you think X asset will reach Y price?"
With very few exceptions, I say "I don't know". Surely my interlocutor will think that I don't want to tell him/her or that I'm an idiot.
In fact, the correct answer is another: "I don't...
Have you ever heard the saying that the casino complains about their losing days and every gambler brags about their big wins?
Well the same thing applies to traders. Diligent traders remember their big losses rather than their wins, where losing traders remember their big wins.
Sticking to consistent small gains over time rather than targeting huge wins is a...
Although indicators can help in the process of constant trading, nothing compares to Japanese candlesticks , which in themselves show who is stronger in the market, buyers or sellers.
Using technical analysis in your favor is crucial for understanding what may happen next in the market. But... Japanese candlesticks often give the clearest picture of them...
Hey traders,
Being a full-time trader & running a coaching program for the last three years, I met hundreds of struggling traders from different parts of the globe.
Guess why the majority of them could not make it? What was the main reason for their bad luck?
It wasn't their trading strategy, nor their technical analysis. The source of their failure was the...
RSI can be beneficial in your trading if you use it correctly. This printable cheat sheet will assist you in divergence, so you can trade more precisely and increase your profits.
To print this cheat sheet, Right-click the illustration below and then click Save as Picture.
What Is RSI Divergence? With RSI divergence, the relative strength index of a...
