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Market Structure: Speed and Slope on Multiple TimeframesHey! Hope you are well! In this selection, there is a showing of the use of angles to measure the passage of time and price. In the first chart, the 30 minute chart, there is 40 units of time, and 40 units of price. The angle that is correspondent with this ratio spans to the end of the enclosed trend. In the next chart, the four minute chart, there is 40 units of time and 40 units of price. The angle that corresponds to this ratio spans only to the end of the first trend. However, the 8x1 angle stretches to the end of the full segment. By these examples, the concept of speed is meant to be shown. In each corresponding timeframe, there is a speed. For the daily chart, the speed is one day. On the five minute chart, the speed is five minutes, so in making forecasts, predictions, trendlines, and others, consider the speed. Suggested Reading: Law of Vibration - Tony Plummer Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III H.M. Gartley - Profits in the Stock Market Bill Williams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach Fabio Oreste - Quantum Trading Michael Jardine - New Frontiers in Fibonacci Trading The Wave Principle, Nature's Law Ralph Nelson Elliot Technical Analysis of the Financial Markets John J. Murphy A Complete Guide to Volume Price Analysis Anna Coulling Mastering The Elliot Wave Glenn Neely
Education
by UnknownUnicorn27791825
How To Succeed In Your TradingFocus on one single trading strategy One thing that many people try and do is switch between strategies constantly. This is setting you up for failure, and if the concept of probabilities is truly understood, you will comprehend the reasons why a single strategy will work. Any strategy is not going to have a 100% win rate, so first you should attempt at getting 50% of your trades right. After that mastering a 2:1 Reward to risk ratio is what will make you profitable. Trying to juggle many strategies will have you working tirelessly, but not moving forward in any particular one. Less trading, more education Many people have the conception that spending countless hours in front of the screen looking for potential set ups is how it should be, however that is completely wrong in my eyes. I spend minimal time now looking at charts and set ups, I highlight key levels I want to look at, along with alerts, and simply wait for the market to head there. Time spent looking at charts should be simply for education and mastering your strategy through back testing or simply understanding previous data. Approach the market from a neutral position Anyone that knows me knows how big I am on trading psychology and how I believe it is the most important aspect of trading. Emotions in trading can be one of your greatest enemies as it can lead you to failure even after your success. There are scenarios where you can take trades and be in positive which will lead you to feel over confident, happy, and those will ultimately will lead to irrational decisions if you let them. Those emotions will make you believe you are better than the markets, or that you can outsmart them, ultimately leading your successful trade to turn into a failure. The same can happen when you feel the opposite and lack confidence to enter another trade due to a loss, or think have feelings of doubt. This is why the market needs to be approached by a completely neutral position. Once you understand that for every person on one side of a trade, there is someone on the opposite side, you will begin to understand that the market itself is just a whole bunch of neutral information moving in nobody’s favour. Write your goals Affirmations are great and something that has helped me in every aspect of my life and not just trading. It is very important to write down your goals in order to manifest them into reality. All ideas first begin in the mind, and then come into the physical. Your goals need to be solidified, definite, and written down in order for your mind and yourself to know exactly what you are going after. Every single day, you need to read your goals aloud, envision them in your mind with every bit of detail possible in order to bring them into the physical. In order to achieve a goal you need to arrive at the destination first in your mind. Relax There is no need to rush a single thing in your trading journey, and believe me take it from my experience, every time I tried to, I failed. People attend university for years before going out into a career which then takes many years before mastering it, yet people want to master trading in a year. Patience is required in all aspects of trading, whether it’s on the charts themselves, or with your strategy, or with your learning curve. It all requires patience. If you are going after trading as a serious life career which you aim to remain in, then relaxing and taking your time is the first step. Nothing great comes from rushing it, especially the markets. Know how to handle your trades Based on your strategy and the concept of probability there are a number of things needed in order to appropriately handle your trades. Firstly, don’t touch your stop loss. I cant say this enough, but stop losses are determined as the final barrier before the trade is invalid, and they are determine before entering the trade. If you find yourself moving your stop, ask yourself why. You will find out mostly its out of fear of losing your money, which is one of the 4 fears of trading. Accept your loss and let the trade stop out, you had it there for a reason. Also, don’t leave trades behind out of fear. If you have a strategy that you have confidently developed, you should understand that the overall should be a greater number of winners than losers, and you should not leave trades behind out of fear, because they can be the ones that perform the best and make up for the losers. Another thing to have in place is an appropriate strategy for exiting your trades. Many people have trades that are in profit, however due to the lack of knowledge on how to exit their trades, they still end up not profitable. You need to have a system on how to exit your trades appropriately and at what levels. Always remember, the profit running on a trade is not yours until its closed. Risk management Yes, I know you have heard it and read it a thousand times already, but you have no idea how important risk management is until the day you master it and recognise it was the single greatest thing holding you back from success. People can have amazing strategies, the best reward to risk ratios, but with the inappropriate risk management trust me it means absolutely nothing. I have seen people overleverage on a trade simply because it “looked too good” compared to other trades, only for it to be the worst of the bunch. I have seen people lose tremendous amounts of money and one thing I can promise you is not a single one of these people lost 100 trades in a row at 1% a trade. Every single one of them lost their entire accounts due to ONE trade that they married. Risk management should be one of your main areas of focus, because believe me if you have mastered it, even with an average strategy you are doing much better than someone with an exceptional strategy with no adequate risk management. Keep track of your performance The only way to improve in any aspect of life is to first recognise what needs change and then work on it. It is very important to actually understand your positives and negatives and have them all tracked. A journal is one of the first steps in order to look in the mirror. Being completely honest is the only way a journal will work, and lying is only lying to yourself. If you are after serious improvement you need to appropriately identify all your flaws in order to better them. You should never feel down or behind, remember trading the markets is one of the biggest psychological challenges one can face, and that is exactly why not everyone is suited for them. Instead see it as a challenge to better yourself and achieve the perfection and discipline you have always desired on and off the charts. Trading the markets will teach you lessons that you will carry with you throughout your entire life and not just on the trading floor.
COINBASE:BTCUSDEducation
by opes_trading_group
331
Forecasting and Geometry: EllipseHey! Hope you are well! In today's chart tutorial there is a gann box; it has harmonic arcs of the same proportion. This box was constructed using the proportions seen on the chart. On the daily chart, there is a fibonacci time sequence of 37, 53, 75, 295, and all. There is also a price of 3.665 and 1.199. From the price, the height of the box is formed; from the time sequence, the length is constructed. These two values form a rectangle, but the rectangle must be intersected to form a proper ellipse; therefore, the ellipse has the eccentricity base from the rectangle; however, its dimensions are a 1.414 proportion to the original ellipse fitting the rectangle. Enjoy! Suggested Reading: Law of Vibration - Tony Plummer Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III H.M. Gartley - Profits in the Stock Market Bill Wiliams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach Fabio Dreste - Quantum Trading Michael Jardine - New Frontiers in Fibonacci Trading The Wave Principle, Nature's Law Ralph Nelson Elliot Technical Analysis of the Financial Markets John J. Murphy A Complete Guide to Volume Price Analysis Anna Coulling Mastering The Elliot Wave Glenn Neely
Education
by UnknownUnicorn27791825
Geometry: Adjusted Axis Square with Elliptical Figure Fitting InHello! Hope you are well! This figure is generated from the adjusted axis of price and the angulation of that adjusted axis. This then forms into a box, and the ellipse is fitted to the box. The native resolution is five minutes! Enjoy! Suggested Reading: Law of Vibration - Tony Plummer Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III H.M. Gartley - Profits in the Stock Market Bill Wiliams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach Fabio Dreste - Quantum Trading Michael Jardine - New Frontiers in Fibonacci Trading The Wave Principle, Nature's Law Ralph Nelson Elliot Technical Analysis of the Financial Markets John J. Murphy A Complete Guide to Volume Price Analysis Anna Coulling Mastering The Elliot Wave Glenn Neely
Education
by UnknownUnicorn27791825
2
The ins and outs of trading psychologyThe ins and outs of trading psychology For something that I believe makes up the bulk of trading itself, I believe it is also the most overlooked. Trading psychology is what I am talking about, and it is definitely the most important aspect of trading that every trader needs to develop and master in order to become successful. In the most basic ways to put it, trading psychology is the term that defines all the feelings and emotions experienced day to day by traders. It is not something that can easily be controlled, however with time and experience it is definitely something that is needed to master in order to move forward in your trading journey. The two emotions that drive the markets are fear and greed. Based on these two emotions, you can find all the negative effects of trading psychology. Based on the emotion of fear, the following can occur: • Fear of missing out (FOMO), leading to bad entries • Exiting a trade too early • Exiting a trade in a drawdown only to see it go in their original direction • Adding to a losing position in hope of recovering the drawdown • Constantly checking your trade • Finding yourself glued to the charts Based on the emotion of greed, the following can occur: • Moving your original TP in order to gain more profits • Adding large positions after seeing gains in a position • Over trading and overleveraging to chase big returns • Risking big on a single trade Another important thing that needs to be understood is the difference between mistakes and losses. A lot of people think that trading mistakes and trading losses are the same thing. However, a trading loss is simply a trade that hit your stop loss and did not go your way. Until the day you learn to accept that losses are just as much a part of trading as winners, you will not become successful. A trading mistake on the other hand is you simply not following your own rules. You have to understand the importance of being disciplined and how it is possibly the single most important aspect of lasting in the markets. Never break your own rules just to be right, because as said earlier, you need to learn that losses are completely normal and expected. Emotions are a normal part of everyday life, however it cannot be stressed enough how important it is to leave them completely out of your trading. Many others believe that negative emotions should be shut off, however positive emotions are great to have, however I think otherwise. Emotions should not be attached in any way to trades, whether positive or negative. If emotions are attached to every single trade then what can happen is that you could have a great week and make a certain amount of money that week. Now by attaching an emotion to that trade, you are programming your mind to believe that the following week even if half that amount was made, it is not good enough as you do not have the same intensity of positive emotions. In trading you have to be emotionless towards both wins and losses and strictly follow your rules. Constantly working on your psychology and mindset is key to developing and succeeding as a trader. Something as simple as developing a daily morning routine, keeping a journal, meditation, exercise, and visiting a mindset coach, are great tools to constantly develop and keep your psychology and mindset at its best. Meditation alone has helped me to develop as a successful trader by improving my focus and attention, reducing stress, reduced panic, improved my information processing, increased mental strength and emotional intelligence, and increase in my focus. If there is one thing that cannot be stressed enough, it is that the aim of forex is to gain pips and not money. Chasing money, especially fast money, is gambling and you will never have control as long as you remain with that attitude.
BITFINEX:XRPUSDEducation
by opes_trading_group
spiderlines aka support and resistanceso spiderlines are defo a thing.... coined by none other than @therealcryptoface these lines can be layed on any timeframe and there aim is to project future possible support/ resistance zones. as you can see they are bang on alot of the time. to create ur spiderlines i look for a clear dip before the most significant rally and then plot a ray from the lowest high then plot off every other high before the one you started with and you finish on the high before the dip. any probs ask.... just look at where this dump ended bang on a pre spiderline
Education
by cryptomavic1
2
Geometry: Shapes, Planes, and FiguresIn geometry, two such known forms are the circle and the square; however, a circle is merely a type of ellipse, so there are ellipses and squares. Squares can be incremented and decremented, and their essential units can be found. Ellipses eccentricity can be added or removed thus creating variating arcs. "Make It Mine" on this chart; deconstruct it; study it; study how it was formed; study the extensions that can be built on top of the base form. Even study beyond this, for this is not the end, only the beginning. Original Chart: 13 mins Scaling = .0001 (Had to change the duration to be able to post) In-exhaustive book list Law of Vibration - Tony Plummer Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III H.M. Gartley - Profits in the Stock Market Bill Wiliams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach Disclaimer: Not financial advice, no recommendations to buy or sell, no warranties of merchantability, profitability, or probabilities.
CME:6A1!Education
by UnknownUnicorn27791825
Geometry: Chart ExhibitFirst and forever reminder: expand into your own, continually evolve and grow. Press share "Make it Mine" to view the full interactive chart Note: Relationship of numbers to each other Note: The sequence of the various shapes Note: Geometric Angles Note: "45" angles up and down various intersection points In-exhaustive book list Law of Vibration - Tony Plummer Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III H.M. Gartley - Profits in the Stock Market Bill Wiliams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach Disclaimer: Not financial advice, no recommendations to buy or sell, no warranties of merchantability, profitability, or probabilities. Forum: blackcryptolink.com
CME:6A1!Education
by UnknownUnicorn27791825
Geometry: Chart ExhibitFirst and forever reminder: expand into your own, continually evolve and grow. Note: Adjusted axis, and regular horizontal and vertical axis Note: Arcs Note: Geometric Angles In-exhaustive book list Law of Vibration - Tony Plummer Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III H.M. Gartley - Profits in the Stock Market Bill Wiliams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach Disclaimer: Not financial advice, no recommendations to buy or sell, no warranties of merchantability, profitability, or probabilities.
CME:6A1!Education
by UnknownUnicorn27791825
🔆How to recognize the validity of the signal and make a profitHi Guys We are all familiar with the signals posted by different people in Trading View, but the main question is which signals are reliable and which ones are invalid ? In this post, I want to show you the ways to understand the validity of a signal so that you can make a good profit according to the tradingview signals: 1️⃣ REPUTATION: When you enter a person's page, you will see the green part of the reputation at the top of the page, which is announcing to you that: Suffice it to say that reputation is an indicator of trust, driven by how the community responds to users and their posts such as ideas and snapshots. The response is measured in social actions e.g. follows, likes, comments, views, etc. ⚠️Notice: Anyone who has had a great reputation in Trading View is not necessarily a trustworthy person, and we must check his signals in method number 2 to use his signals. 2️⃣Personally check the signal: As you know, when someone posts his analyses in a trading view, he can't change it , and you can see the analysis went well or Not by clicking the play button next to each analysis. ⚠️Notice: But the important point in examining the quality of analyzes is that: If you check 2 or 3 posts in a row, one person may have the wrong analysis in those circumstances, or he may have the correct analysis only in those circumstances. And then your analysis of the person could be wrong. The correct way to identify professional traders is as follows: at First, look at the trades analyses about bitcoin when the bitcoin price was drop if they predicted the btc drop they could be a professional trader. (because only a professional trader can predict the BTC price drop). Check signals at critical market times, for example:(3-6 nov (2021),20-21 jul(2021),13-14 apr(2021),...) 3️⃣Reason for analysis: when anybody share their analyses , Did he specify the reason for his analysis in the chart or did he publish it in the description below? ⚠️Notice: You can assess their credibility by analyzing the charts of traders and the descriptions below. 4️⃣Compare traders' analysis together: After going through the above steps, we may find 4 or 5 reliable traders whose signals can be trusted. In this section, the best thing to do is to check the analysis of these traders together, especially in the case of Bitcoin, which is all traders are constantly publishing their own analysis of Bitcoin chart. 5️⃣You comment number 5.
NASDAQ:AAPLEducation
by seyed_mehdi
🔴biggest MISTAKES🔥 in trading and how to FIX🔧 themHi Guys 👋 I wanted to share with you a mistake in trading that can severely hurt a trader, but I saw that all my cases and experiences are similar to Cory Mitchell experiences, so I decided to share this text with you to read it from Avoid the mistakes we made in the beginning and move forward with a certain order and strategy and make a profit. 👇👇👇👇👇👇 My biggest trading mistakes have included letting losses run, not taking profits, hesitating on good trade setups, and being over-eager to trade (overtrading). Here’s how I manage these issues. Hopefully, my experiences will help you as well. Mistakes happen, especially in an arena as dynamic as trading. There is a lot to process and sometimes the wrong decision will be made. Losing a trade does not mean a mistake was made. Losses are a natural part of trading. No matter what strategy we are using, it will only win a certain percentage of the time. The rest of the time it will lose. As long as it produces a profit over many trades, that is what matters. Therefore, I’m never upset over a losing trade. What I do get upset about (at myself) is when I don’t follow my strategies. Win or lose, not following our strategy is a big mistake. But of course, we all know that. So below are some of the biggest issues I have experienced that cause me to deviate my strategies. Interestingly you will notice that trading presents a bit of a paradox. For example, one mistake is being too eager to trade which cause impulsivity and poor trading decisions, while another mistake is being too hesitant which can result in the really good trades being missed. The key is to realize these problems are entirely based on context. Impulsivity and over-eagerness tend to occur when there isn’t a good trade setup, but we try to make something happen anyway (doesn’t work). Hesitation occurs when there is a good setup, but we are scared of putting our money on the line. Interestingly, one state of mind often leads to another. For example, you may hesitate and miss a really good trade. You are mad, and so you become over-eager to get that money back and you start jumping into random quality trades that don’t align with the strategy. After a few losses you feel dejected and lack confidence, and end up missing the next really good trade again. Now, let’s look at the four biggest trading mistakes I have made, and that I see others making, and how I manage them. 🔥 Biggest Trading Mistake: Holding the Loss The price can move big in our favor, or against us. The mistake I regret the most is not taking a loss when I am supposed to. Before every trade, I know where I will cut my loss. While the occasional loss will come back and produce a profit, the ones that don’t can ruin you. Through some hard work, I have gotten rid of this problem. I get out when I supposed to get out. In my early years trading, when I looked through all my stats, I found that my worst days were almost always due to one or two oversized losses. On the trades where I took these big hits, I felt trapped and didn’t want to take the loss. Usually, I was trying to get out, but instead of just doing it I would bid or offer the position out to try to save myself a few cents/pips/ticks. As the price kept moving against me I would move my orders to where the price was, and then keep watching it move against me. Instead of just punching out, I was always scrambling to try to save a few cents. Those few cents I was trying to save have cost me tens of thousands of dollars over the years. Now, I just get out when I am supposed to. The use of stop loss orders can aid in this matter. They will execute when (not necessarily where) they are supposed to and get you out. Assuming the trader doesn’t move them…which I sometimes did in my early years. 🔧 Fixing It If you are facing this issue, convince yourself this is a problem you no longer want to have. The distaste for taking a bigger loss than you are allowed must outweigh the “hope” the price will come back in your favor. Whether the price comes back in your favor is irrelevant. If the price hits our loss limit, it is time to get out. Period. To develop the distaste for taking a big loss, look through your results. If you have a decent method, it should be producing regularly profitable trades. Now, look at all the losses that are much bigger than they should be. If you got out where you were supposed to on those trades, how would your overall profitability differ? It would probably be much better! In addition, a normal loss shouldn’t affect our psychology too much. We can keep trading and should be able to maintain focus and emotional neutrality. Take a big loss, though, and that can create a domino effect of bad decisions. When you go through charts and historical trades, consider how that one bad trade may have negatively affected other trades that followed. The end result of this exercise is that you will have an objective dollar figure of what holding onto losing trades is really costing you. When you add it up and see that just by getting out when you are supposed to your profits would have been increased (or your losses decreased) by $500, $2,000, or $5,000 per month–or whatever your number is–that will help you clearly see how important it is never to let a single trade move past your stop loss level. With that knowledge, instead of hoping a losing trade will turn around so you can get out flat or make a few bucks, you will know that getting out at the loss is actually putting X number of dollars in your pocket! When you know that getting out is going to make $2,000 (or whatever your number is) extra on average each month, it becomes a lot easier to accept losses and to never let them get out of hand. 🔥 Problematic Trading Mistake: Not Taking Profit This is not AS big of a problem as not taking losses, but not taking profits when we are supposed to can also dampen performance. When I trade, I typically use profit targets. Before every trade I have a price set that is both reasonable based on how the asset is moving, and that also more than compensates me for my risk (reward-to-risk must be greater than 1.5:1). Yet, my strategies allow for a bit of leeway. For example, if the price comes extremely close to my target (90% of the way there) but then starts to move away from it, I am supposed to just get out without thinking about it. The real-world is sometimes more complicated than a simple rule, though. For example, today while day trading I had a $0.30 target on my trade ($0.30 being the difference between the entry price and planned exit price). The price quickly moved to it and touched that price but didn’t fill my order. At that point, I was $0.29 on side. A split second later a big sell order came in and I was only $0.15 onside. I hesitated a second longer and then was only onside $0.02. I got out. Regardless of whether the price continued to drop or went back up doesn’t really matter. A mistake had already been made. I hesitated and it cost me another $0.13 per share. It doesn’t matter that I was onside $0.29 one second and only $0.15 the next. I have the rule to get out if the price gets close and then moves the other way for a reason: I don’t want a big winner to turn into a loser. That is my rule, it may not necessarily be yours. My point is that just like taking losses when we are supposed to, we must also take our profits when we are supposed to, according to our strategy. 🔧 Fixing It Hesitation usually kills. If you know you have to get out, it is usually better to do it that second earlier than that second later…because usually by the time you notice you need to get out the price is already moving against you. In the example above, even though it sucked that half my profit disappeared before I could react, it could have made a lot more if I simply didn’t hesitate to get out when I had the chance. Do what needs to be done. Plan it before the trade happens. While in the trade, rehearse what you will do if different situations unfold. What are your exit rules on profitable trades? If you just leave your profit target and stop loss alone, and let the price hit them, that is a great method too (this is the method I recommend to all new traders), because you will never have this issue or the one discussed above (assuming you don’t mess with your orders once in a trade). If you do allow some flexibility on when you exit a profitable trade, go through all your trades and see how much more you would have made over the last month if you got out of those trades when you were supposed to. Just like looking at your losses, you may find that on average you could have made $0.10 more (per share) per day if trading stocks, or 10 pips more per day if day trading forex. That may not seem like a lot, but if trading 2000 shares, that’s $200 day…or about $4,400 per month (22 trading days). What many traders fail to realize is that the difference between really successful traders and those that lose is small stuff like this. It is finding a few extra pips here or a few extra cents or ticks there. It is all those little improvements which are the difference between winning and losing, and winning big and being mediocre. forex strategies course for weekly charts banner 🔥 Biggest Trading Mistakes: Hesitation on Good Setups Occasionally, traders will send me a screenshot of their charts to look over…usually on their bad days . What I notice is that while they did end up in some bad trades, the far worse travesty is that they missed the good ones! Since I always aim to make more money on my winning trades than I lose on my losing trades, missing even one or two winnings trades in a day can mean the difference between having an amazing day or a dismal day, or at least between winning and losing. For example, let’s say I take three trades and lose 10 pips on each. I am down 30 pips. But, assume I missed two profitable trades. Those trades should have been at least 15 to 20 pips (1.5:1 to 2:1 reward to risk). Taking one of those trades means a greatly reduced loss for the day. Taking both those trades means a likely profit for the day. It still wasn’t a great day, but missing the winners made it far worse. My worst days are typically the ones where I hesitated and missed the one or two (or maybe three) really good trade setups that occurred. Because I missed those good opportunities, at the end of the day I am only left my losses to show for my couple hours of work. Missing a good setup is usually about twice as costly (because I am often using a 2:1 reward-to-risk ratio) as a losing trade. In other words, while many traders are scared to lose, I am far more afraid to miss out! 🔧 Fixing It Not hesitating on a good setup comes down to psychology. We need to be confident to place trades, but not arrogant (see being over-eager below). Unfortunately, most of us can’t just decide to be confident. But, we can practice hard, and the more we practice our methods the better we will feel about them. Slowly, over many trades, we will see that if we follow our strategy the money will come. This helps build confidence in the method. In How to Overcome Trading Anxiety I stated that “Confidence is created by courageous acts–constructive decisions which are made even when a lot of anxiety is present.” Even great traders have moments of doubt or anxiety. We are all human. For whatever reason, we may not want to pull the trigger on that good trade setup, but we have to. Doing so is a courageous act. And it is only through routinely making trades, in spite of our anxiety or apprehension, that we will start to see that those trades will increase our overall profitability. Just like any other trade, there are no guarantees the trade will work out if we take it. That is why it is a courageous act. But by taking these trades routinely, our results will improve because we will start catching more of those good trades we have been missing. One of the most courageous things to do is to get back into the same trade after being stopped out. We have all had that experience. The price touches your stop loss and then starts flying in the direction you expected. Here is where psychology comes into play again. If it is still a good trade, we need to get in again! We can’t fret about the loss. It happened, all we can do is capitalize on the opportunity that is still in front of us. As traders, we need to move from a state of worrying about losing, to an opportunity-seeking mindset. We aren’t worried about past winners or losers, rather we are focused on the now and the opportunities that are arising. If we are always thinking about past trades or that loss that just happened, it is almost impossible to stay in the moment and seize that next great opportunity that occurs a split-second later. Practice your method enough so that a loss, or a potential loss, doesn’t phase you (because the fear of losing is what usually causes us to hesitate on a good trade). As long as you worry about losing, you will likely miss opportunities. Stay in the moment but remain calm. We are ready to pounce if needed, but only if a good trade setup arises. When no trades are present, we are focused on the market and watching for trade setups. We do this without expectation or apprehension. We simply watch, and wait for the market to come to us (do what we want) before taking action. This way, we are ready to act when the moment comes. 🔥 Biggest Trading Mistakes: Being Over-Eager to Trade We have all heard “Don’t over-trade!” While that is true, hearing that won’t cure your overtrading. That’s because overtrading is a symptom. Overtrading doesn’t cause overtrading, something else does: our mental state. Being over-eager to trade, fantasizing about big profits, or feeling we need to get a certain number of trades in today are mental states that cause us to overtrade. In order to control our overtrading, we need to control our mental state. I haven’t personally met anyone who has mastered their own mind yet, and I am no exception. I sometimes overtrade. Every once in a while I will have one, two, or sometimes even four or five days in a row where I am just really amped up to trade, and this usually costs me some money. Such stretches typically follow a long string of winning days. Feeling confident, that confidence can sometimes turn into taking trades that aren’t that great (arrogance). We start relying on our own intuition, instead of trusting the strategies that produce the gains. I have told many students over the years that a good trader is nothing more than a button pusher for their system. The more I implement this theory, getting in and out when my system calls for it (see all points above), the better I tend to trade. When I deviate from this belief, my profits decline. 🔧 Fixing It Being over-eager is often a result of one or several underlying issues. The most likely cause is that the trader doesn’t really have a solid plan for trading in the first place. Without a plan, every move in price looks like a trading opportunity. Experienced traders know this is not true. If you don’t definitively know when you should be taking trades, figure that out before you trade. Another cause is the desire to make money. While we can make money trading, unfortunately, we don’t get to determine who much money we make this instant. The market determines that. You can have the best strategy in the world, but it means nothing if the market you are trading isn’t moving right now. The market determines our profit on each trade, and at any moment it can do anything it wants. We don’t control the market or the opportunities it provides. But, we do control how we react to the market, and can improve our methods so we have a say in how much money we make over many trades. We can study our own reactions to find ways to improve our performance. We can also look at how the market tends to move which may aid us in finding better ways to implement our trades. All this work is done OUTSIDE of our trading time. While we trade, our only goal is to implement our current strategies. To study your reactions to the market, take screenshots of every single trade you take, and then review them regularly. Many people who over-trade are conducting experiments while they trade: “Let’s see if this works” or “I think I can make a few bucks…I will get out quick if it doesn’t work.” This sort of thinking undermines discipline and patience, two traits which guard us against overtrading. Related to the section above, about hesitating, over-trading sometimes comes out of frustration from missing a good trade. When we miss a good trade, we try to make that money back by taking random trades and hoping they will work out. This generally leads to more losses, more frustration, and even more random trades as we fumble around hoping to make back some of the money we lost. We can often avoid this domino effect by not hesitating and missing the good trades in the first place (see section above). Over-trading can also result from “playing with the house’s money”. When we are up for the day/week/month/year, some traders tend to relax their standards for trades. They take mediocre trade setups, or let losses run further than they should. Having made money is not an excuse to overtrade. Every trade is independent. It is taken or left alone based on its own merits. Past trades don’t affect decisions about current trades (unless you are using a daily stop loss, in which case you want to make sure a loss wouldn’t put you over your daily maximum loss). As discussed above, as traders we are simply button pushers for our system. We calmly wait for the next signal without expectation or apprehension. The insights in this Fixing It section, and the ones above, should aid in getting you there. As with the other sections, sometimes reducing the mistake to dollar figure can help. Go through your charts and see how much all those random or poor-quality trades cost you each month. Seeing the dollar figure may cure your overtrading right then and there, because you will see that you could make a lot more money by sitting on your hands until the good setups for your strategy occur. 🔥 Final Word On the Biggest Trading Mistakes Once someone has a decent trading method, and assuming they keep risk to 1% or less per trade, the most common trading issues I see and deal with are covered above. These are the big ones. While insights into handling these issues have been offered, all the solutions involve actual work. Reading and conceptualizing won’t cut it. To reduce these mistakes, if applicable to you, you should actually go through at least a month or two of your trades/screenshots and add up how much your over-sized losses cost you. Do the same for not taking profits when you were supposed to; find the dollar figure. If you hesitate on trades, focus on staying present and consciously forcing yourself to take those trades and sitting through the trade even if it makes you squeamish. There are a number of reasons why people over-trade. Find your root causes, and then formulate a plan for how you will improve the issue. . . What were your mistakes in trading?📈📈📈
NASDAQ:TSLAEducation
by seyed_mehdi
4
Trends in Technical Analysis 📈📈✨What are the trends in technical analysis and what is its application in digital currencies such as Bitcoin and other cryptocurrencies? In the second part of the tutorial, we will look at the trends. The concept of trends is definitely one of the principles of technical analysis. All the tools that we will teach in the following are created from patterns, oscillators, support and resistance levels, indicators, and with the aim of helping to measure the price trend. Even if you have been in the market for a short time, you must have heard the words, "Trend is your friend", "Always trade in the direction of the trend", "Never fight the trend". These are common phrases that you often hear in the market. So we need to take the time to define the process and know its types. Bitcoin price chart consists of uptrends, downtrends and neutrals John Murphy describes the trend in her valuable book, Technical Analysis of Financial Markets: The market never moves in a straight line. Market changes are characterized by a series of zigzag movements. We call these market zigzag movements. The result of the motion of these waves is TREND. ✨Classification of trends in technical analysis ▪️ Uptrend The uptrend is defined as a series of ascending waves. Charles Dow defines an uptrend as follows: "When a price is higher on an uptrend than the previous uptrend, or when the price is on a downtrend above the previous uptrend, we have an uptrend." In other words, the uptrend is a pattern of upward fluctuations. An uptrend indicates a greater power of demand or purchase over supply or sales, referred to as the "BULLISH market". The uptrend in technical analysis is the result of several uptrends ▪️downward trend The downtrend is formed as a series of downward waves. Charles Dow described the downtrend as exactly the opposite of what was said about the uptrend. This means that whenever the price is lower in a bearish wave than the previous bearish wave or the price is lower in a bullish wave than in the previous bullish wave, we have a bearish trend. A downtrend indicates a greater supply or demand power over demand or a buy, a "bearish market". The downtrend in technical analysis is the result of several downtrends ▪️ Range trend The Range trend consists of a wave or waves of ascending and descending that have a direct direction. In other words, if the price can not go above the peak of the uptrend or the price can not go below the bottom of the downtrend, we have a Range trend. A Range trend indicates a relative balance between buyer and seller power or market supply and demand. "Range market" refers to this trend. The Range trend in technical analysis is the result of several neutral waves ✨So far, we have defined the concept of trends in financial markets. We may be trending in the market but we need another tool to confirm our diagnosis, trading volume is the tool we need. According to Dow, trading volume is a secondary but important factor in confirming warnings derived from price analysis. In general, keep in mind that trading volume should be in line with the direction of the main trend. In the uptrend; Each ascending wave is accompanied by an increase in volume and each descending wave is accompanied by a decrease in volume. Trading volume should confirm an uptrend In a downward trend; Each descending wave is accompanied by an increase in volume and each ascending wave is accompanied by a decrease in volume. If you have any questions, comment for me🔥🔥
BITSTAMP:BTCUSDEducation
by seyed_mehdi
4
Top Crypto Influencers To Follow In 2021(part 1)Hi guys Today, I want to introduce you to the influencers that you should follow on Twitter and the news that they publish on their Twitter, can be effective in the crypto market. If you also know an important influencer who is not under this post, please comment. ♦️ 1.Elon Musk(@elonmusk) The ever unabashed defender of bitcoin and dogecoin, the King of Crypto on Twitter has amassed so much influence that a single, one-word tweet can make or break a currency, leading investors into some wild roller coasters as of late. Cleary, he’s the kind of crypto influencers to follow if you don’t want to miss out on all the action. ♦️ 2.Andreas Antonopoulos(@aantonop) This tech entrepreneur and open blockchain expert has long been regarded in the crypto community as a trusted and unbiased educator, with an extensive list of best-selling publications (The Internet of Money, Mastering Bitcoin) under his belt. He’s also the co-host of the hugely popular Speaking of Bitcoin, where he delves deeper into the technical aspect of digital currencies, the future of decentralized finance, the rise of neobanking, NFTs and, of course, the good ol' BTC. Antonopolous earned his stripes as an early adopter of digital assets and the blockchain, making him one of the very few bona fide crypto experts in an industry increasingly saturated by wannabe gurus. Follow his Twitter for all his latest tips and thoughts. ♦️ 3.Adam Back(@adam3us) As a pioneer of early digital asset research and adoption, Adam Back is best known for being the inventor of the proof-of-work system Hashcash, now used for cryptocurrency and blockchain verification purposes, all way the back in 1997. He also contributed to some of the world’s most revolutionary crypto-financial infrastructures through Bloc stream, a leading blockchain technology company of which he is the CEO and co-founder. The company places a heavy focus on developing distributed ledger technology (DLT) as well as other cryptocurrency ventures. Back has also gained his cloud as a top crypto expert by working as cryptography advisor specializing in security architecture, p2p systems, distributed file systems, protocol design and and cryptography protocols. ♦️ 4. Nick Szabo(@NickSzabo4) Before Bitcoin there was BitGold, one of the first-ever digital currencies, created by Nick Szabo in the early 2000s. In fact, such are the parallels between how both currencies came to life that many in the cryptocurrency industry believe Szabo to be none other than the illusive father of Bitcoin, Satoshi Nakamoto. Szabo has denied that claim to fame, but he can count developing the concept of smart contracts among many of the feats that have made him a legend in the crypto space. Szabo is well known for his political views on cryptocurrencies, often speaking on the issue of cryptocurrencies replacing fiat as a means for countries to bypass international sanctions. ♦️ 5.CryptoCred(@CryptoCred) CryptoCred is an independent Twitter educator and technical trader who has succeeded at amassing a massive online following for himself online with daily market analysis and trading tips. All his content is available for free and accessible across a number of platforms, including Twitter. ♦️ 6.Notsofast(@notsofast) Bringing with him a vast abundance of educational content and cryptocurrency market tidbits is Notsofast. He’s been around since the early beginnings of crypto and has become a prolific commenter on Bitcoin and Ethereum as well as Syscoin and niche crypto economies like Parkbyte. Notsofast is also an Altcoin miner . You can find his commentary across several YouTube channels and Twitter. ♦️ 7.PlanB(@100trillionUSD) If you are looking for a blockchain and cryptocurrency influencer who really knows his stuff then PlanB is definitely plan A. Commenting under an assumed identity, PlanB draws much of his experience from his two-decade-long experience as an institutional investment before migrating to the world of cryptocurrencies and becoming one of its most notorious investors and advocates. He’s also known for helping popularize Bitcoin’s Stock-to-Flow price predictive model, which has proven to be accurate time and time again. Based on that, PlanB has made some bold market predictions, most notably that BTC will hit $250,000 or higher in the near future. ♦️ 8.Josh Olszewicz(@CarpeNoctom) If you’re all about technical analysis trading, then Josh Olswzewics (aka CarpeNoctom) is another gem you might consider following on social media. This self-taught trader first got into cryptocurrencies after stumbling upon it by chance on Reddit, bought his first digital currency in 2013 and then famously predicted that Bitcoin would hit 33K by July of 2018. So yes, he’s widely known as the 33k Guy and his followers love it. Josh posts relevant information pertaining to current happenings, news, trading tips, and memes on his Twitter account. ♦️ 9.WhalePanda(@WhalePanda) Another fellow Bitcoin Class of 2013, WhalePanda has a long track record of commenting and making accurate predictions about cryptocurrencies and the blockchain. He’s also an angel investor and many industry followers turn to his hugely popular Twitter account for some sound advice. ♦️ 10.DonAlt(www.youtube.com) . . . If you’re looking for someone to help you with dipping your toes into digital asset investments and cryptocurrency trading, then DonAlt is another great educator. They are well known for having a strict no-promotion policy as well as dishing out no-nonsense advice across on social media. Together with CryptoCred, they’re also the host of TechnicalRoundup on Youtube.
BITSTAMP:BTCUSDEducation
by seyed_mehdi
65
GANN THEORY Strategize UPDATEWanted to post a couple of pictures about editing and cleaning up the strategy and make it more SIMPLE to understand the thought process of behind it. I had to Remove a couple of indicators names CM_SLINGSHOT and DREADBLITZ DRSI from the indicator am replacing these indicators w/ a 100 (p) exponential moving average to filter weather we should go long or short. Adding the Bull vs Bear Power by DGT. setting i have on this indicator is 13 check SUM, histogram, 1 smoothing, 0 recall, drop-down box to LEAST. 'This indicator and the CM_ULTIMATE_RSI MULTI TIME FRAME by Chris Moody works very harmoniously together. The following pictures will explain why. Also the alert can be set on the 70 30 lines of the RSI. this picture shows the BULL vs BEAR POWER telling us the trend so we know what direction we should DIRECT it outwards to 'Project.' based on the Direction of the trend on the Daily we alerts on the 70 30 lines of the RSI. and the 2 GANN-Fib lines ' usually its the .618 and .75 lines. (yes i rename my ALERTS as 70 30 and GANN FIB ALERT) easy tooltip to reference you already know what your looking at when you set something to crossing. i want to be sure to look at the Right thing when i get to the chart. '' focus '' type strategy. example of one of my favorite trades to take with GANN---- its a RISK off (means if it goes the other way you only loosing a small fraction of profit.) But if it goes well like the example it can give 28 risk reward ratio. The second trade that is using the MTF_RSI, support resistance MTF, and BULL vs Bear power in all in sync. this is on a 5min chart sorry for the resolution... but explaining the harmonious sympathy that these indicators make. this is y i rather use the 5min chart with the 15min chart___ look at the that Blue line on the BULL VS BEAR POWER on the 5 min. perfect exit for full profit. If you use the EXIT 'last chance' you would of only had a small gain. To sum this up, I take 2 different types of trades RISK OFF trades with GANN FIBS ___ you will see the S/R lvl to support the move. Then trades off the MTF_RSI after a pullback with conjunction of the BULL VS BEAR. My requirements are longs over 100 ema and shorts under 100 ema and the bull vs bear power has to say STRONG TREND __ADX RISING___ if it says ADX_FALLING then be warned. Thanks for taking the time to read this i really appreciate any feedback.
NASDAQ:CGCEducation
by Mnbrass549
GANN Theory Finally Completed StrategyI took a couple of months off to read a book i found on Amazon on Andrew Gann the inventor of GANN theory. After finishing his article i theorized that it could be transformed in these modern times. This will a Membership to perform, Alerts mean allot to people that want to automate the thought process behind this. Please note that i am not a paid person posting this, i been trading for 16 years ever since i graduated from High School, I went to college to understand Pattern Recognition. Believe it or not there is a pattern to every aspect of our Lives. I have the MTF Support and Resistance from Annan Set to Daily . Poor Mans Volume Profile ___ this is critical for plotting the GANN BOX onto the Charts with little to no thought process. To plot the GANN BOX (not the GANN fix Box or the GANN angles) You are taking the Gann Box Placing it on the Poor Mans Volume Profile DAILY chart. For an Uptrend you go UP 2 and right 2 , you'll understand when you plot it. For Down Trend down 2 right 2 . Sideways (rangebound) oddly special one. Up 1 Right 2 Down 1 Right 2 . When your plotting on the charts LOCK the Gann on the chart. I use Daily Right 2 because i set it at the beginning of the MONTH and its good for until the NEXT month. you set alerts on the GANN FIB LINES. (ENTRYS) BASED... If you are having issues with plotting this LET ME KNOW... its gets very automated when you plotting it. The Poor Mans Volume Profile takes the calculations out of the picture. Posting a picture of the Points your going up or down 2. How you Plot it on the Poor Mans Volume Profile. last step is to LOCK it on the Daily CHART. Alerts need to the be set on the 2 of the Gann Lines. ( set to Crossing ) Subscription premium allow you to set an unexpired alert. If you want to Swing with this strategy. You have to do something different by Anchoring on the Weekly and trading on the 30 min or 1hr you can swing with this. But as yourself are you going to swing or are you going to Day-trade this. Stop loss is a very touchie subject that everyone should think about doing... Personally i use 4 different methods Count 5 bars back, last Swing point, or Halfway between the two fibs of entry. if i am feeling lucky just on the other side of the Fib Entry point. * the Lucky part of this one is if it goes bad you have a very LOW LOW risk of loosing allot of hard earned capital. Generally I will use the 5 bars back method. CM- Slingshot set to Conservative. Next 2 will be the Exits on the Trades and Indicators to take the Trade. DYNAMIC RSI - DRSI for short just tweak the color on this one, from DreadBlitz. ____ MTF RSI from Chris Moody 14 70 30 D D 30 ___ set a color where you can see the MidPoint. NOTE: When Entering you are looking at the Chart___ when it crosses the GANN FIB line. after the Bar completes, look at the DRSI and MTF RSI midpoint cross. (after the Cross has Happen and you can Confirm it on both u can now Enter the Trade.) The exit point is when the DRSI goes Solid Filled color, secondly this effect will be happening on the MTF RSI. I take all of my trades on the 15min timeframe with an Anchor on the Daily Chart. Anchor meaning MTF MTF MTF MTF all of them are set to the daily. I want to make thoughtful readings based on the Daily Overall proceedings of the market direction.
NASDAQ:AMGNEducation
by Mnbrass549
20
Mercury's speed at 0.98 or 1.98 marks trend energy transitionsA Financial Astrology Research member "Ashok" recently suggested that based on George Bayer financial astrologer rules, the points where Mercury's in Geocentric longitude speed is 59 minutes (0.98 in decimal) or 1 degree 58 minutes (1.98 in decimal) seems to indicate major tops or bottoms in market prices. I felt curious about this rule so have extended our Mercury speed indicator to mark those points and plotted vertical lines to clearly validate if the rule has real predictive value. You can see in the chart that locating this points give us an intense planet energy transitions points in BTCUSD. Is really impressive how this speed points narrow down an important trend energy transitions which can be used to locate good trading opportunities. However, once this rule is confirmed that works the question is: Why this speed values are important for determining the trend energy transitions? I'm researching to figure out why this is important, any hints will be appreciated. Thanks! Is clear that last BTCUSD trend transition have occurred very close to this points so the expectation is that next major top will be reached at the next speed mark. DISCLAIMER: This idea don’t provide financial or investment advice and the main purpose is to document the research observations within financial astrology field. Any allocation of funds following the documented machine learning model prediction is a high-risk endeavour and it’s the users responsibility to practice healthy risk management according to your situation.
INDEX:BTCUSDEducation
by citlacom
7
Introduction To Gann Theory | Gann Square From ScratchHello, traders! Today we gonna start one of the most complicated topics. Please pay as much attention as it possible and ask any questions you like. Gann technical analysis methods are a bit complicated because they are based on geometry, ancient mathematics, astrology, and astronomy. Popular technical methods like Gann Angles and the Master Charts are at Gann’s disposal. The Gann Square is also among the several powerful tools that Gann developed. How to use? It can be used in a variety of ways. One way is to start at the previous major pivot point (normally the end of the last 5 wave sequence) and draw it so that the 1 X 1 line follows the current market support areas to a good degree. Simply put, if you want to draw it from the higher high, the end should be at the previous lower low to follow the price cycles. And if you are drawing it from lower low, finish it at previous higher high. Another way is to highlight geometric formations that can forecast key support and resistance levels by counting forward from the all-time low or all-time high. Well, I understand the difficulty of the instrument. It's kinda difficult to use it from scratch. However, tomorrow I will elaborate this article with short analysis using this powerful tool. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
BEducation
by Skyrexio
4
NIKE- from the Low to High - GANN FanIllustrative chart only. NIKE has show the power of GANN fans. From all time Low to all time High hitting the 8x1. This fan is drawn using only mathematical figuresusing Time factors and Price Coordinates that project a scale from the low-to high out through time. Each Gann Line having a unique impact to price over time. From here... technical analysis says NIKE comes down. It has maxed out the fan. The point of this chart is to only show the power an accuracy of technical analysis. NIKE has traveled up the fan so beautifully from 1984 to 2021- anyone who bought at least 1k in 1984 would easily be a millionaire today. This is what we would call a LONG HOLD. Congrats NIKE, LONG HOLDERS, and TA! Cheers!
NYSE:NKEEducation
by Moorsc0de
WD Gann's Astrology Reversals for Bitcoin (BTCUSDT) - 1There is no easy way around WD Gann Theory on Astrology and more you dig deep, more you learn. This chart pattern is a basic WD Gann Astrology theory where he says to focus on trines, sextiles, sqaures, conjunctions and oppositions of different planets and so on. It seems that we can find some relationship on BTCUSDT as well. Are we looking at new bottom? In recent times, Venus has played important role in finding local top reversals and if we look at the trend, then next Venus 150 Jupiter is on 28th June 2021, that should give a deep correction further perhaps. What does the chart show:- 1. It shows almost all astro relations from early 2020 up till now 2. It shows recent trend lines based on degrees and price and time interchangeability I can do more research if you follow me, and like it :) On other note, It looks like we are still in the down trend and we can see new bottom levels soon. This is just for education and research purpose. Follow me for more insights on this in coming days.
Education
by Falcon_Trader_1
2