Mentoring
Predict the clarity of the price, not it's direction☝️The main purpose of my resources is free, actionable education for anyone who wants to learn trading and improve mental and technical trading skills. Learn from hundreds of videos and the real story of a particular trader, with all the mistakes and pain on the way to consistency. I'm always glad to discuss and answer questions. 🙌
☝️ALL videos here are for sharing my experience purposes only, not financial advice, NOT A SIGNAL. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as a simulated, educational environment.
📖Ultimate guide to feeling a little bit better after a loser.1The video is long, feel free to use speed settings :)
Thanks for your interest in the last post about the Major mistakes traders do.
Now let's talk about coping emotionally with losers. This is Part 1.
📖We all know this feeling, it feels awful, hopeless like something very valuable has been taken from us, like it destroys our work and plans and it feels BAD.
Who am I to speak on this topic. 4 year of trading experience, lost maybe 25 funding challenges over the course of 3 years, got 2 times funded the previous year and lost these funded accounts. Had multiple losers, out of which many just stamped me emotionally.
Over time I developed coping skills to better prepare for these -1’s and though I’m far from being really good at it, I’m definitely a bit better than I was some time before.
And this is my ultimate guide to feeling a little bit better after a -1.
📖First of all, congrats - if you’re still here, it means you’re interested in the topic and by watching videos like these from me or other traders, and thinking, and trying to become better, you’ll do it eventually. Yes, with time you better find one source of education that really sticks to you, and for me, it’s the method.. but even other videos can build some foundation for your work in this direction.
📖As pointed out in the Mental Game of Trading, Our brain functions in 3 layers, so to say - automated habits, emotional brain, and rational. The thing is, emotions can really block rational thinking. It’s physical and happens in your brain. It literally changes our chemistry. Accept the fact we can't accept losers fully. It will always feel shite, but with time and a good strategy of preparation, it will get better. So this is a Stoic principle applied to trading, be prepared for the worst-case scenario, how? Expect it to happen, and know it’s inevitable and you’ll feel bad. Paradoxically, it allows you to feel a little bit better when it actually happens.
📖Notes and full diary, you want to know all about how you behave in the markets so that you recognize the build-up of emotions and can prepare better for the next inevitable loser, and in case you understand you need to stop because you’ll become too emotional - than you’ll be able to stop.
How diaries work is that you know all your triggers, and patterns, in a way that nothing is new to you about how you feel about the market and how you react to certain situations.
📖Appreciate yourself and your work! gratitude - videos, practice, mooji. appreciate the work you did, especially if the loss comes out from a high-quality setup. Many people turn too much attentions to their flaws while forgetting recognizing their powerful sides. What’s your super power - holding to TP, sticking to max trades per day, not overrisking, really going through the checklist.
📖Awareness doesn’t equal control. You can control things only to some extent, but when emotions really kick in, it’s too late. That’s why people very often say: I understand everything, but I can’t stop. Yes, my friend this is how emotional brain works - it leaves with no control over the actions. Awareness doesn’t equal control. If you feel bad, you need to STOP, because in that state losers will feel especially bad.
📖Trade less, a lot less. Good traders and my experience.
📖Record a trade as a -1 in a journal once you started it - Ment’s video.
HOW TO: Use ChatGPT as your Trading-Coach & MentorIn this video, I explain how Traders can use ChatGPT 4 as their Coach and Mentor to accelerate their journey of becoming highly successful and professional traders.
ChatGPT's new image functionality enables this AI tool to help traders to transform their learning curves and build their capabilities at an unseen pace.
Long GBPUSDHello friends, My personal opinion and idea is for the GBP/USD pair. I take this position with a specific and calculated risk, you can also join with risk management. All responsibility is yours and the profit and loss are for you. So act calculated and take care of your capital. If you enter with me, do not pay attention to the target on the chart, whenever I close the position, I will update here. Have a good day.
EUR/USD Short London Session - July 19 '23Clean EUR/USD Short on London Open. 15m downtrend with break of structure and grab of liquidity taking out the high while also retesting on the supply. Aiming for 1 to 3 as always and managing risk accordingly (moving sl to BE once we break structure again). Good Luck traders!
Top Mentors in Finance and BusinessMentors play a critical role in guiding individuals and businesses towards achieving their goals. Whether it's in finance, business strategy, market analysis, or cryptocurrency, the insights and experiences of successful mentors can be invaluable assets in navigating through complex situations and making informed decisions. In this article, we will explore some of the most popular mentors in these fields and highlight their contributions to their respective industries. From Warren Buffett to Andreas Antonopoulos, these mentors have made significant impacts and continue to inspire and educate aspiring individuals and businesses around the world.
Finance Mentors:
1. Warren Buffett - Widely recognized as one of the most successful investors of all time, Warren Buffett is the chairman and CEO of Berkshire Hathaway. He has a long-term investment approach and has made successful investments in companies such as Coca-Cola, American Express, and IBM.
2. Ray Dalio - Founder of Bridgewater Associates, one of the world's largest hedge funds, Ray Dalio is a successful investor and philanthropist. He is also known for his unique investment principles, such as "radical transparency" and "radical honesty."
3. Jim Rogers - A well-known investor and author, Jim Rogers has written several books on finance and investing, including "Investment Biker" and "Adventure Capitalist." He is also the co-founder of the Quantum Fund with George Soros.
4. Nassim Taleb - A former trader, Nassim Taleb is the author of the best-selling book "The Black Swan," which explores the impact of unpredictable events in financial markets. He is also a proponent of the idea of "anti-fragility," which suggests that systems should be designed to benefit from shocks and volatility.
5. Paul Tudor Jones - Founder of Tudor Investment Corporation, a hedge fund with a long and successful track record, Paul Tudor Jones is a prominent investor and philanthropist. He is also known for his philanthropic work through the Robin Hood Foundation.
Business Strategy Mentors:
1. Michael Porter - A leading authority on business strategy, Michael Porter is a Harvard Business School professor and author of several books on competitive strategy, including "Competitive Advantage" and "The Five Forces."
Clayton Christensen - A Harvard Business School professor and author of several books on innovation and disruptive technologies, Clayton Christensen passed away in 2020 but remains a highly respected mentor in the field of business strategy.
2. Gary Hamel - A management expert who has written extensively on innovation and strategy, Gary Hamel is a founding member of the Management Innovation eXchange and the author of several influential books, including "Leading the Revolution."
3. W. Chan Kim - Co-author of the best-selling book "Blue Ocean Strategy," W. Chan Kim advocates for creating new market spaces rather than competing in existing ones. He is also a professor of strategy and international management at INSEAD.
4. Anita Elberse - A Harvard Business School professor who specializes in the entertainment and media industries, Anita Elberse is the author of the book "Blockbusters," which explores the strategies used by successful entertainment companies.
Market Analysis Mentors:
1. Peter Lynch - A former fund manager who is known for his investment strategies and his ability to identify undervalued companies, Peter Lynch is the author of the best-selling book "One Up on Wall Street" and "Beating the Street."
2. John Murphy - A technical analyst who has written several books on the subject, John Murphy is known for his work on intermarket analysis and is the author of "Technical Analysis of the Financial Markets."
3. Martin Pring - Another technical analyst who has written extensively on market indicators and technical analysis, Martin Pring is the author of several books, including "Technical Analysis Explained" and "The Complete Guide to Technical Analysis."
4. Ralph Acampora - A chartered market technician who is known for his work on chart analysis and market cycles, Ralph Acampora is a frequent guest on financial news networks and the author of "The Technical Analysis Course."
5. Ed Seykota - A former trader and one of the pioneers of computerized trading systems, Ed Seykota is known for his work on trend-following and
Cryptocurrency Mentors:
1. Andreas Antonopoulos - A prominent cryptocurrency educator, Andreas Antonopoulos is the author of several books, including "Mastering Bitcoin" and "The Internet of Money." He is also the host of the "Let's Talk Bitcoin" podcast and has given numerous talks on the subject.
2. Vitalik Buterin - The founder of Ethereum, Vitalik Buterin is a prominent figure in the cryptocurrency world. He has been involved in the development of several blockchain-based projects and is known for his work on smart contracts.
3. Charlie Lee - The founder of Litecoin and a former Google engineer, Charlie Lee is a prominent figure in the cryptocurrency community. He is also a vocal advocate for the adoption of cryptocurrencies as a means of payment.
4. Cameron and Tyler Winklevoss - The Winklevoss twins are known for their early investment in Bitcoin and their efforts to establish regulated cryptocurrency exchanges. They are also the founders of Gemini, a leading cryptocurrency exchange.
5. Changpeng Zhao - The founder and CEO of Binance, one of the world's largest cryptocurrency exchanges, Changpeng Zhao is a prominent figure in the cryptocurrency world. He is also a vocal advocate for the adoption of cryptocurrencies as a means of payment and has been involved in several blockchain-based projects.
In conclusion, the above mentors have made significant contributions in their respective fields and are highly respected in their industries. While their teachings and philosophies may differ, they have all played a crucial role in shaping the way we think about finance, business strategy, market analysis, and cryptocurrencies. Aspiring individuals and businesses can benefit greatly from their insights and experiences.
GOLD: 3 Reason's why To Invest in Trading education is importantOANDA:XAUUSD
1. Get a Mentor
The best asset to your trading is having a knowledgeable mentor in your corner. Even the most well-written book or well-structured online trading course can only cover so many contingencies! When you run into a unique scenario and money -your money – is on the line, why gamble when you could ask someone more experience for help?
A mentor can ensure that your trading practices get off on the right foot, as well. If you develop bad habits or emotional triggers early on in your trading career, it’s going to be that much harder to “shake” them later on. Remember: your mentor has likely had the same fears, the same apprehensions and the same mistakes under their belt – learn from their mistakes and the student might even surpass the teacher, in time.
2 Understand What You’re Doing
We’re all guilty of coasting somewhere in life – getting the “gist” of something and just letting inertia carry you to a result. Trading, however, is not a High School literature test – it’s an important structure of rules, probabilities and information that could make you a lot of money. It’s not enough to know that cause A affects company B, you’ll need to know why that affect changes things in order to be a knowledgeable trader.
Are industry trading magazines, blogs and corporate research efforts a little dry at times? They certainly can be. That doesn’t mean they aren’t important as part of a holistic trading approach. Taking online trading courses may come with an upfront cost, but what they offer in structure and support is priceless. In addition to the course materials, you’ll get access to a community of fellow traders, which will allow you to clarify ideas and discuss strategies with other traders at your level.
When it comes to pre-made trading blueprints, following – not blindly following or copying, but keeping an eye on – certain systems will help keep concepts fresh in your mind and promote understanding. That brings us to our final point…
3 Forge Your Own Trading Path
The beginning trader could throw a stone and hit a dozen sources that claim they’ve “cracked the code” for 100% successful trading. Not only is that statistically improbable, it’s made to appeal to lazy traders that aren’t willing to put in the work to succeed. No matter how “foolproof” a trading system seems, always filter it through your mentor and your own trading research to ensure it’s worth pursuing.
An old saying also holds true, here: don’t count your chickens before they’re hatched. While it’s important to get comfortable with risk in trading, don’t bet the farm when you’re still learning the ropes. As you practice your trades and build confidence in your methods, success will follow naturally.
KALA New Drug on the Street Hi Traders
We can't say much here!
As always history has shown us when a new drug goes on the market we have 3 scenarios:
1 we're going up (green path)
2 the medicine is not good we are going down (red path)
3 we don't know what the medicine is like until many people take it let's go sideways (purple path)
with all that is happening at the moment we are following the first scenario the probabilities looks good, but we will see as soon as the index open.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. don't forget to follow me for more news and updates.
Thanks for reading!
Great mentors I have found (Trading)Hello.
I'd say 95% of investment/trading content out there is crap.
I said I can make a list of good mentors who have truly helped me on my journey.
So here they are.
Bob Loukas (You can find him on twitter and some videos from youtube). Would have put links but it's not allowed.
" Intermediate time-frame swing trader but also takes shorter scalp trades when there is an opportunity. He has been trading 25 years , and some of that time as a full-time trader. He is recognized as an expert on trading market cycles and places a significant importance on risk management . I like to consider myself an educator on trading and investing, along with being a passionate entrepreneur".
Focuses on calmness, market cycles, psychology, mindset, market trends, key levels, breakouts and moving averages.
I remember when I found Bob Loukas from youtube. He had a video back in 2019 january when BTC was around 3,6k and he said "if you panic sell now, you are going to regret that for a long time. This is time to accumulate."
Mitch Ray (Twitter and youtube).
"Technical Analysis with Mitch Ray is your #1 Source for Trade Setups and Market Updates"
I think Mitch has best free trading content what I have found from youtube. It amazes me that he doesn't have more visibility when there is these moon boys everywhere. (I guess people like to believe that they can get rich overnight)
He's making live market updates and technical analysis almost every day on youtube.
Focuses on harmonics, fibonacci, channels, key levels, market trends, candlesticks, breakouts, fundamentals.
Peter Brandt (Twitter) Legend
"World renowned veteran Trader of classical charting principles for over four decades and #1 author on Amazon with trading book Diary of a Professional Commodity Trader. A man dedicated to helping others in the world of market speculation".
Focuses on classical charting, key levels, moving averages, breakouts, channels, parabolas, psychology and patterns.
Big Cheds (Twitter and youtube).
"Author of best selling book "Trading Wisdom". CMT level 1 and trained in Classical Charting and Japanese Candlesticks. Accomplished trader and educator of more than ten years , he is dedicated to helping new traders avoid the early mistakes most make when getting started. Cheds enjoys sharing his knowledge of risk management and trader psychology ".
Focuses on classical charting, key levels, fake outs (traps), breakouts, psychology, market trends, candlesticks, moving averages and patterns.
Gareth Soloway (Twitter and interviews about markets on youtube)
"Chief Market Strategist Gareth Soloway has been an avid swing and day trader since his days at Binghamton University where he studied Economics. After college, Gareth quickly excelled as a financial adviser but his heart was always in swing and day trading. He had this long standing belief that he could help investors make more money by advising them on shorter term investments (holding a stock for days to weeks) than the buy and hold crowd who lost 50% of their money during every market collapse. “Why not profit during the bear markets just like the bull markets”, he said. While helping others gain financial independence during the day, he spent his nights studying charts and price action, developing a unique market trading system that put his profits on a rocket ship. Some nights he would barely sleep when he found a new technique that was proven, once back-tested".
Gareth has quite a track record .
There's ofc big list of things I forgot to mention that these traders focus on. You better check them out yourself.
Someone said it well . Learning to trade profitably takes thousands of hours . Why would it be any different than studying a degree which takes 4 years / 5000 hours? (The hardest easiest way to make money.)
But if you find good mentors this learning curve gets much faster . That I noticed after I invested some money to study TA
If you liked this. Tell me
-Jebu
EURUSD Long trade plan✅ Potential long opportunity if we see price action invalidate the bearish structure, preferably price remain trading above 1.09 major level.
❌ Long bias invalidated when price trading below 1.0850 level.
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Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together .
Disclaimer
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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Thank you for your support
Is the US Dollar bottom in? After a solid downtrend that broke some significant weekly support zones and market structure, the USD index looks to have found a bottom and is now in correction mode on the daily.
I'm expecting further short-term strength to test the previous structure before DXY decides its next move.
It's not common to trade this index by itself, however, it's a really good indicator and confirmation of trades we may be taking that are inversely correlated.
See you on the next FX market scan to discuss further.
Cheers
Dale
DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation.
Is EURUSD about to Melt up? During last week we were tracking the EURUSD correction and wanted to see evidence of buying activity to signal a resumption of the long-term uptrend. We got that around previous support levels and saw a nice impulsive move up.
Then on Monday's FX market scan, we were tracking what looked like a bull flag on the smaller timeframes, and a potential head and shoulders pattern.
The bull flag broke to the upside nicely and now we've seen a confirmed break of the neckline.
Looks to me that we've got the resumption of the longer-term uptrend with a view to test the previous highs at 1.2342 for a start, and then onto round number 1.2500.
I'm looking to keep re-entering longs after any corrections on the smaller timeframes.
See you at next Monday's FX market scan.
Cheers
Dale
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Is the run in Bitcoin over? After an impressive run up over the last few months, BTC has made an impulsive move down, which looks to be a clear End of Trend signal IMO
The Perma-Bulls will probably try to buy this up and try to test the highs, but it feels like we've got a fair bit more downside to go to me.
I'm thinking a pullback to the 0.38 Fib retracement and round number 40,000 level or lower wouldn't be out of the question.
Will be interesting to see what happens next.
Cheers and trade safe
Dale
DISCLAIMER: Just ideas, no crystal ball, NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation.
What does the perfect trade look like? It's not often that you nail a perfect trade, but when you do it's like when you hit a golf ball down the fairway with a One wood and it makes that beautiful Ping sound hey!!
That one beautiful shot keeps us coming back for more!
We identified this Kiwi Yen Long on last night's FX Market scan. I got stopped out on the first entry during the European open, then re-entered at New York open. Then after a big run during today's Asian session exited.
We'll go through the mechanics of the entries and exits in the network.
See you there
Cheers
Dale