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FUN! Late entry - I honestly thought I posted this beforeSorry team, I think I jumped on the FUN rocket at sub 300 sats. I don't think I posted it though!!! Good news is we're now above all Daily SMA's. Short term fib level has just been crossed and held well. ATH fibs we are just under .236% (which I don't see as a problem). MACD on daily shows ranging (neither good nor bad). Everything else looks solid. Like all my medium/long term holds I like this project (so if price falls a little I have confidence to hold em as there's real world application here). Gambling coin, apparently getting some business partners, though nothing solid. Won't lie you should probably run with a 5% stop on this one. I however can't be bothered. Please note this is only a small part of my holdings, since I split my money across around 30 coins at any given time (hence don't worry with stops as much).
FLong
by TristanWallace
If you are continuously loosing money ,read and apply this......PART 1 Are you tired and exhausted of finding a strategy that works, are you tired of predicting forex markets only to find out sometimes it works and sometimes it doesn't. First of all, you have to see what are your beliefs and you need to verify if you have right beliefs. Many traders think that forex trading is not gambling and to make money from forex you just need a golden strategy that works. I can write thousands of words on how beliefs always defend itself from discomforting knowledge and people with such wrong believes end up giving their money to markets. In simple words: TRADING IS GAMBLING If trading is gambling then how to make money out of it? There are many people who make consistent profit from the market. { including me :) }. TREAT FOREX LIKE CASINO TREAT THIER GAMBLERS Forex trading is a probability game. Corporations spend vast amounts of money, in the hundreds of millions, if not billions, of dollars, on elaborate hotels to attract people to their casinos. How do you suppose they justify spending vast sums of money on elaborate hotels and casinos, whose primary function is to generate revenue from an event that has a purely random outcome? Here’s an interesting paradox. Casinos make consistent profits day after day and year after year, facilitating an event that has a purely random outcome. At the same time, most traders believe that the outcome of the market’s behavior is not random, yet can’t seem to produce consistent profits. Shouldn’t a consistent, non-random outcome produce consistent results and a random outcome produce random, inconsistent results? What casino owners, experienced gamblers, and the best traders understand that the typical trader finds difficult to grasp is: Events that have probable outcomes can produce consistent results, if you can get the odds in your favor and there is a large enough sample size. The best traders treat trading like a numbers game, similar to the way in which casinos and professional gamblers approach gambling. ___________________________________________________ Patterns, Fibonacci, indicators, support and resistance lines etc don't work ___________________________________________________ Before you start to think i am crazy, please continute reading. I know many pattern traders, support and resistant traders and fibo traders on this websites. They hardly predict market 50% right. Some of them are around 50-60% range. I can toss a coin and can come up with a 40-60% winning rate. Therefore if your strategy works, then my coin strategy works as well. Technical Strategies sometimes work and sometimes don't, just like a flipping a coin. If you have a strategy which won last 9 times, does it mean it will work 100% 10th time? No ! there's still a 50-50% chance, just if 9 coin flips showed heads last 9 times, doesn't mean 10th will also be a head. 5 rules to be a consistently successful trader over the long term: >> ANYTHING CAN HAPPEN: There are always unknown forces operating in the market at every moment. Regardless of how much time, effort, the money you have to spend in your analysis, from the market perspective, the outcome will always be random. >> YOU DON'T NEED TO KNOW WHAT IS GOING TO HAPPEN NEXT IN ORDER TO MAKE MONEY: why? because there is a random distribution between wins and losses for any given set of variable that defines an edge. Just like a casino with random outcomes, you can make a consistent profit. >> THERE IS A RANDOM DISTRIBUTION BETWEEN WINS AND LOOSES FOR ANY GIVEN SET OF VARIABLE THAT DEFINES AND EDGE: Every losing trade puts you one step closer to a winning trade because the outcomes of any edge are totally random. The same theory is applied by casinos if someone wins money casinos don't get scared as they knew over the long term they will win. >> AN EDGE IS NOTHING MORE THAN INDICATION OF A HIGHER PROBABILITY OF ONE THING HAPPENING OVER ANOTHER: If you have a strategy which gives you higher probabilities .....( limited words)..
Education
by Wave-Expert
5