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IMPROVE YOUR TRADING PSYCHOLOGY NOW / VIDEO / EDUCATIONALHey TradingView In this video I will be going over a swing trade from this week and breaking down how this trade could impact a trader's psychology both positively and negatively. I also cover some easy to implement strategies that will make it much easier for you to let your winners run. It really bothers me how little attention seems to be devoted to trading psychology. This is by far the hardest thing for most traders to grasp and master. Please take a look at this video and let me know if it is able to help you.
OANDA:XAUUSDEducation
by ImreSG
2
SEISMIC: Solid Gold becomes easily electronically transferable. Yes - of course some will know about credit transfers of solid Gold. But the latest stuff is bigger! Some very clever people have found a way to transfer solid gold in more than just 'credit', by very robust electronic means. In other words wherever you are in the world you can ask for your solid gold and it will be sent to your hands! Ain't that crazy!? You can now buy stuff and pay in real Gold, using plastic! Ok so that part is like credit but it isn't. No longer is that totally linked to the US-Dollar value. So this is just like cryptocurrencies - but slightly better. In other words private individuals and some corporations are re-creating the 'Gold Standard' independently of governments and central banks. What does that mean? It means that the 'big boys' with the smart money have been ahead of the race. They spotted some time ago, to their minds that the US financial situation - which has been labelled as bankrupt (not by me), with an unprecedented Debt to GDP ratio of 105.4, and a total debt of $16 Trillion - is frankly dangerous. People have become drunk on credit. Personal credit allowances are all adding up into one massive tsunami - which nobody is really looking at.(Well except the big boys of course). Gold is has been connected to the US Dollar as we know it today. However, strangely currencies are no longer backed by Gold (since the 1970s). This has allowed the widespread printing of national currencies backed by thin air - and confidence in trade agreements etc. On top of all that, interest rates had been held near to zero in the USA for the last 10 years, and that's why there is such tension about The Federal Reserve (which is factually a bunch of private bankers), deciding to raise interest rates. They know a bubble has been created. In other words, the crisis of 2008 was not solved at all. It was papered over and made worse. Yes - it's taking time to pop. Sometimes real bubbles made of soapy water will touch a surface several times and not pop. But when they pop and when Ponzi schemes crash, it happens in the blink of an eye. If/when the financial bubble pops Gold will rule again. But it will be too late for the average investor to get on board. I'm not saying that everybody should rush out and buy Gold. What I'm saying is that sensible investors and traders need to get prepared now. In fact 'now' is a bit too late.
FX_IDC:XAUUSDEducation
by Captain_Walker
2
#EURNOK and #UKBRENT #UKOIL CorrelationWhen we look at correlations in charting, we sometimes see certain #FX pairs are correlated to a #commodity or #index, in this instance I am giving you an example of #EURNOK vs #UKOIL #BRENT. These charts can help you make distinctions in the trend of the commodity, so when we see a #bullish EURNOK, you want to be looking a trades that are bearish Brent/UKOil, again this is not tick for tick, so, you will use confirmation like trendlines, underlying fundamentals etc. But you can clearly see the correlations. I suggest you try this with other markets, like #USDNOK #WTI #USDJPY #NIKKEI #SPX #10YR
Education
by B15H
1
The Learning Lesson From A 10% Profits TradeTrade Analysis Gold had been in the downtrend for 2 months. Lazy Trend System spotted a momentum entry. Following the rules, with 2% risk on capital, this trade yielded a profit of 10%. Risk to reward ratio = 1 to 3 3 Keys to Success: Patience The trade was executed on Daily chart, there are typically less than 10 potential entries in a calendar year. Swing trader always has to be patient, follow the system and trade when the opportunity appears. Risk Management Never risk more than 3% on one single trade! It takes more effort to recover big losses than to grow the portfolio. A proper risk management not just help to protect capital, but also to grow your trading portfolio consistently in the long run. A Good Trading System Having a good and consistent trading system is the key to succeed in trading for the long run. Test, test and test the system with your risk management till you are fully comfortable with it. Keep a journal of your trades, and always learn and review the historical trades.
OANDA:XAUUSDEducation
by wealth_compass
Bitcoin v GoldI've been fascinated that the price of Bitcoin was recently hovering at about 3 times the price of Gold (before the recent set back). And now that Bitcoin seems at risk of dying, I'm wondering about its value in relation to its characteristics. So I decided to compare Bitcoin against Gold. I generated the above based only on my knowledge. I can't say that everything on this is 100% correct, or that my choice of words is lends to perfect accuracy. Most of the parameters and qualities of each are broadly correct, and for sure there will be pockets of exceptions. I'd be delighted to hear what others think about all this. Add any parameters I may have missed, in comments section. For the avoidance of doubt, I have not drawn any conclusions on which one is better. No conclusions are implied. This is not an encouragement to buy or sell cryptocurrencies of any kind.
BITSTAMP:BTCUSDEducation
by Captain_Walker
12
Technical Analysis 101!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Technical Analysis 101!! Interpreting the candlestick This type of chart is an extension of the bar chart as discussed and is actively utilised by the investors in China for more than 500 years of time period. It helps in providing the information regarding open, close, low and high in the dimensional format. It can be seen that the vertical axis of the chart helps in providing information on the prices of the FOREX whereas the horizontal axis represents the time period. The white candles are the representation of the advances of the currency and the black candles, on the other hand, represents the decline in the value of the FOREX. Moreover, the body denotes the thick portion of the candle, and the vertical line represents the wick. This chart helps the investor to forecast the future price movement of the FOREX. b) Charting systems In the mind of a few people, charts are the exemplary image of the trader’s speciality. The experienced eye can make ups and down. Charting is a questionable piece of the fund. Future research is probably going to reveal things about outlining that would amaze people today. All things considered, even individuals who eagerly restrict the training are ought to be acquainted with the essential techniques of charting. Follow your Trading plan, Remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
FX_IDC:USDWTIEducation
by SMPTrader
How to Trade in Traditional MarketsHello friends, thanks you very much for your interesting comments to my previous “Why Do You Like to Lose Money?” post. I’m happy to know that not all of you want to stay with status of “crypto enthusiastic trader” and you also want to use trading opportunities from traditional markets as well. It’s really good because if your REAL target is to make additional or the main income from trading, you MUST do logical things. They are simple: if the market does not give you good trading opportunities, you move to another. If it does, you come back. If your trading strategy does not work, you have to search for a new one and so on. Also, I understand that for you may be it’s not simple to move in a new direction. You started with crypto from zero knowledge about trading. You followed fake experts, got fake experience and learnt fake knowledge. The crypto world created a lot of fake things around it when there was a great hype for crypto and people could buy, follow and use any low quality “products” and “services”. Of course with this knowledge it’s rather difficult to think about making profit in the traditional markets. You can't expect every pattern to confirm and every indicator to be right - It does not work like that all the time. That bull market where everyone was always right is over now. Maybe there will be a new one, but until then, it's time to trade the right way. Because of the low quality knowledge and experience which you could get here and there from who knows what noob that thought he knows things because he got 5 charts right, you may have been pushed into a wrong trading workflow. Applying the same logic in the current situation and on real markets, every mistake will cost you money. So, what should you do? The 1st step you should start getting the right knowledge. For this you can read actually cool books from REAL legends with great experience and who are trusted by the financial community. I talk about legendary traders, investors who shared their knowledges, experience, trading strategies, tactics and tips in their books and courses. The 2nd step is, you have to think about your trading goals and create a Trading Plan. What is a trading plan and why you need it, I can write in further posts. Also I made a webinar for this topic. You must have your trading plan where you will write all your steps in the financial markets and tools which help you to reach your goals. The 3d step you have to find any workable trading strategy and start using it on demo accounts. Of course the best variant is when you design your personal trading strategy, but without good knowledge and experience it will be difficult to do. By using ready trading strategies from professional traders will give you more understanding of how to trade like a PRO. The 4th step is to create your personal risk and money management strategies. Based on the trading strategies results' you will be able to think about your comfortable risk level and how to manage your demo capital properly. Also, risk and money management strategies must be included in your Trading Plan. The 5th step - only here when you have everything in your arsenal like: Trading Plan, Trading Strategies tested in demo trading, Risk and Money Management Strategies, Knowledge and some Experience - ONLY AFTER THAT you can start real trading. Not at step 1. I insist! You can write down these 5 steps, and if you will tell me it will take much time and efforts for starting trading and it’s better to buy super profitable signals from crypto guru and become rich quickly... I will reply that these 5 steps are not perfect and it’s better to make 10 step in order to start from the beginning level and reach PRO level. These 5 steps are just a possible and logical road map if you decided to make stable profit in the financial markets. You will need several months for this, but opportunities which will be opened to you - they will surprise you. Also I need to add a very important idea to this post. WHY TRADITIONAL MARKETS ARE SO COOL! They have good infrastructure which can be used for automated trading. Crypto does not provide good terms for automated trading using the bots outside the raging bull market, but traditional markets are perfect for this. You have professional trading platforms which can be improved by new indicators and trading robots. You have opportunities to realize in code a great number of trading strategies. The robots can trade for you when you sleep, when you are at your work or when you have a vacation. You will need only to monitor their work time by time. Trading robots allow you to join the traditional financial markets even when you don’t have knowledge, experience, time and wish to improve yourself as a trader or investor. Trading robots can become a real alternative of that 5 steps, but it's better to have them as a complimentary system to your future trading based on real knowledge. I'll explain why: This direction of trading is also interesting for those who have experience, knowledge and tools and who trade in profit already. Trading robots allow to diversify your trading, they can be added in any portfolio. Using a combination of manual trading, automated trading with robots will make your trading more stable and probably more profitable in long run. Automated trading is a really good alternative for manual trading and if you want to learn more details about it, please write in comments. Also I will be able to write with more details why I think any crypto bot just a useless thing at this moment. Please, write in comments will it be interesting for you to know why I think so? Also, if you do not agree with me and you have other point of view, I will be glad to discuss with you in the comments - just don't be rude, there's no need for that. Thank you very much for your attention!
FX:XAUUSDEducation
by DLavrov
24
Creating your own Trading Strategy!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Creating your own Trading Strategy!! Below is a quick run down of things to think about when creating your own trading strategy 1. How much time during the day do you have to devote to trading? .................................................................................. 2. How much money do you need to live on each year and how much of that must come out of trading profits? ...................................................................................................................................... 3. How many distractions can you expect during the day/night? ..................................................................... 4. Specify the markets and times of the day you will trade? ......................................................................... 5. Do I want to trade multiple systems? ............................................... 6. Will you short sell? Or go long? ........................................ 7.Where will you place your Entry/Stop Loss and Target Line? ........................................................................... Follow your Trading plan, Remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
FX_IDC:USDWTIEducation
by SMPTrader
Elements of a Successful Trading Plan 102SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Elements of a Successful Trading Plan 102 2. Risk Level Managing a risk in trading is essential if a person wishes to make profitable investments. As a trader, one cannot control the market but he/ she do have the capacity to change what can be done as circumstances require. They need to adapt the changes as the market conditions evolve. A person does not take a position and hopes the market acts in your favour. Managing trading risk will be a key factor in an individual’s long term success as a trader. As the market, structure changes, the risk profile of trade will also change. Risk will vary at different points of a trade and needs to be managed in a manner, which is consistent with the individual style of each trader. This will be dependent on each trader’s personality and time frame. Assessing market conditions can be categorised into core areas where one need to consider the risk profile in his/ her trade. This risk needs to be assessed also in line with your trading objectives. Active traders will tend to add and take off risk for each new swing in the market, whilst passive investors will ride minor retracements looking to achieve larger reward targets. Following are some areas where risk can be managed throughout a trade as well as what to look out for at these points that indicate that the risk is increasing; • At Entry: Stop loss risk. • Distance from Moving Average: Price exhaustion risk. • “M” Pattern: Price retest failure risk. • Candlestick Tails and Shadows: Price rejection risk. • Period Close: Price rejection risk. • Reducing Range: Trend momentum risk. • Support or Resistance: Price level failure risk. It is necessary that how an individual plan to address the risk management needs to be included as a critical part of the trading plan in order to protect the invested capital and preserve the profits. One need to have strategies in place for how he will deal with the different areas throughout a trade and how he will know when risk is increasing to a point where action needs to be taken either to protect profits or capital. Follow your trading plan, Remain disciplined and keep learning :) More elements will follow... Like, share, Comment and follow us to keep updated on our professional trading ideas and education :)
FX_IDC:USDWTIEducation
by SMPTrader
6 Things That Separate The Pro From The Amateur Trader!! Ben SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY 6 Elements of a Successful Trading Plan 1. Test The test is considered as the start-up element of the successful trading plan. It refers to the successfulness or failure of any currency involved. In most organisations, time is the primary driver for assessing execution. The assessment period is constructed with respect to the quantity of exchanges put and not by the measure of time passed. You should distinguish the correct number of exchanges for the assessment, however, this number should be sufficiently high that an individual has a nice example set, yet sufficiently low where it keeps you from going on a damaging exchanging. More elements will follow... Like, share, Comment and follow us to keep updated on our professional trading ideas and education :) Follow your trading plan, remain disciplined and keep learning :)
TVC:GOLDEducation
by SMPTrader
1
A 3 Day Trend IndicatorA 3 day chart is very useful in terms of being able to see a major trend reversal. It eliminates the noise of daily or lower timeframe charts and shows the change in trend faster than the higher timeframes such as the weekly and monthly. Keep track of the candles and look for a higher high and higher low candle for the first signal. The USOIL chart above shows a sequence of 3 day candles that have lower lows and lower highs for the past 8 or more candles, clearly showing that the major trend is down. Short risk on oil is out of the question as long as there's no higher high and higher low 3 day candle. As soon as there's one, at least a minor change in trend can be anticipated and traders are likely to switch to short risk.
TVC:USOILEducation
by Zoen_Trieste
3
Back Testing - Evaluating your Trading Strategy 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Back Testing - Evaluating your Trading Strategy 101 Backtesting of technical methods in light of past prices is the most popular testing strategy among technical traders.Below is a short list that will get you started; 1. How many trades does it generate? .............................................. 2. Whats the reliability of the system? ............................................... 3. How big is the average profit compared to the average loss? ............................................................................. 4. Many more.............. #Remember that you need enough data to create at least 30 trades in each test # Please let me know if you would like to know more :) Happy Trading "success occurs when opportunity meets preparation" Zig Ziglar
TVC:GOLDEducation
by SMPTrader
Financial Market Introduction 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Financial Market Introduction 101 a) Market participants Market Participants include those parties that are involved in the operations of investment companies. Their control in the market is necessary and they should be well aware of the changes in the market. 1. Brokers and dealers handle trade activities between the buyers and sellers of currencies by charging a fee. They are the crucial part of the FOREX market, which acts as a medium between buyers and sellers. 2. Investment advisers are individuals who provide investment advice to investors by issuing reports regarding the analysis of investment securities. 3. The investor is one of the main participants of the financial market as funds are allocated to them as a capital to gain financial returns in future. 4. A central bank is one of the monetary authority and it regulates the state's currency, interest rates and money supply. Performance of the commercial banking system is also overviewed by the Central bank of respective countries. b) The Trading Market Trading market is a place where trading of currency and securities are done. The market includes brokers and investment experts who provide active services as traders on the basis of their education and knowledge regarding the market. They take investment decisions on the basis of different trading methodologies and data from past years to determine the most profitable investment. c) The Best Time to Trade Best time during the year Previous yearly records show that October and September are considered as the best months to invest in the FOREX. The main reason is due to the price bumps, which usually arises during the month of November and December, due to the seasonal changes. Best time during the Month The best time of the month to invest in the FOREX is during the first five and last five days of the month. The fact was illustrated in research conducted by Professor Ogden’s, which determines different types of investment return that are paid in the last first few days of the month. This "regularity of payments" can enable the investors to generate profit on their investments. 1. Municipal bonds interest payments are made up to 90% 2. 70% of corporate bonds principal payments 3. Preferred stock dividends are paid up to 65% 4. 45% of all common stock dividends. d) Market Cycles Market cycles are considered as the key to determining the maximum returns. The market cycle can be divided into 4 phases: Accumulation Phase • The accumulation phase arises after the market decline and experienced traders start to buy after figuring that the worst position of the market is ended. • At this time period, currency price valuations are pretty enough that they can play an essential role in profit generation. However, in this stage, prices are flattered and every seller in the market knows that the buyer will get a healthy discount. Mark-up Phase • A Mark-up stage the market stability moves forward towards the higher market moves. During this time media stories usually determine that the worst period of trading is over, however, increase in unemployment can arise during this period. • At the maturity of this phase, investors use bandwagon because of their fear regarding the decrease in market prices. A bandwagon is a group including technicians who analyses the market prices to recognise the changes in market direction and sentiment. The Distribution Phase • Within this time period, sellers dominate the market. The bullish market sentiments can turn the market cycle towards the mixed sentiment. Prices in this phase stay locked, which can last for some weeks and months. • Even the timing models do not flash any signals to buy the currency. This phase can be affected due to the bad economic news or adverse geopolitical event. Mark-Down Phase • This stage can be most painful for the investors, those who still hold their previous FOREX reserve can get huge losses, as they would have to sell them even at the lower prices at which they have bought the currency. • However, this phase determines the buying signals to the early innovators, which can enable them to generate returns in future once the prices got higher. This stage also demonstrates that it is not the good period to sell the FOREX. e) Days of the Week 1. Throughout the whole week, Monday is considered as most the best day to buy FOREX, as the prices usually show a decline. A study conducted on "A Survey of the Monday Effect Literature" reveals that decline in the prices can be the reason of bad news that was released during the weekend. 2. Conversely, if Monday is considered as the best day to buy FOREX, Friday is determined as the most feasible day to sell it. As it is better to sell the reserve before the weekend due to changes of price decreases which can affect the profitability of investment, in case of selling it at lower prices on Monday. 3. Heading towards Tuesday trading can flourish a little. The reason behind this fact is that opinions are formed by the traders and they have started taking their positions in the market. Therefore, this can make a good day for trading in the market. 4. Wednesday shows the same kind of trend in trading followed by Tuesday or usually depicts bigger price moves and is considered as the second-best day of the week for trading. 5. Thursday, it quickens. Thursday is considered as the days when huge profits can be made by the investors. Investing in the right currency can enable the investor to generate huge profits. f) Hours of the Day Trading in the morning time is not a good idea as market prices and volumes can change roughly. It is assumed by experts that these are considered as volatile hours and several new releases can affect the investment outcomes adversely. However, trading in the middle of the day can be favourable for the investor, as prices mainly remain stable during this time period. Several time frame analysis is utilised by the investor to select the most appropriate time for trading. g) Swing Approach Swing-Traders analyses the swing chart within the day so that they can take advantage of favourable price changes in the marketplace, and this affords them the benefit of not having to watch markets continuously while they are trading. Once they find an opportunity in terms of increase in FOREX prices, they place the currency on sale and then constantly keep a check on the progress of the pricing. The approach has different optimal time frames, which include: • Daily, and Weekly Charts • 4 Hour, and 1 Hour charts...... Please let me know if you would like to know more Happy trading :) "In investing, what is comfortable is rarely profitable" Robert Arnott
FX_IDC:USDWTIEducation
by SMPTrader
Money Management 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Money Management 101 Are you receiving a win-rate of more then 60% and still loosing money?? Money Management may be an area that you need to focus on. It is an essential element in becoming a professional trader. Listed below are 4 Simple Steps To Evaluate Your Financial Health; 1. Position Sizing A portfolio of $... and I decide to only risk 2% on a trading strategy 2. Capital - How much? A portfolio of $.... 3. Loss - How much? I must be right more then 50% of the time, but win more money on winning trades versus losing trades. I will use stops and limits to enforce a risk/reward ratio of 1:2 or higher 4. Profits - What? A profit/loss ratio refers to the size of the average profit compares to the size of the average loss per trade. For example, if your expected profit is $1500 and your expected loss is $500, the P/L ratio is 3:1 Please let me know if you have any questions :) Happy Trading "The simpler it is, the better i like it" Peter Lynch
TVC:GOLDEducation
by SMPTrader
Trading Journal Basics 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Trading Journal Basics 101 During my trading career one of the most important elements of trading is keeping records of your trading performance. Whether its using an excel document or software such as the EDGEWONK TRADING JOURNAL, its crucial to see where you business has come from and where its going!! Below is a small detailed list of elements of a trading journal; 1. Date/time entered and exited trade 2. Asset traded 3. Long or short trade 4. Entry/ Stop loss and target price 5. Risk/Reward 6. Exit price. Did i exit at the target price? If not why? 7. Profit/Loss 9. Pips amount 10.Balance 11. Notes on trade ( both Pros and cons) 12. How can i improve next time? 13. Missed trades? 14. and many more.... Once again this is just a very basic list and there a lots more that can go into the journal. Note: Edgewonk is by far the best trading journal software that i have ever used. I highly recommend it and if you would like to know more please let me know :) Happy Trading
TVC:GOLDEducation
by SMPTrader
1