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when a trader ignores price action indicators ema's and trendterrible long entry by T.I forex trading desk. the mentioned trader entered long the British pound and soon had to go into hedging to protect against liquidation plus he had to load up on cash to not get liquidated. LONG entry laddering down from 1.30 ish to 1.27. priceaction incredibly bearish! loss of short term attempt of daily uptrend change on may 9! with setting a lower low ON THE DAILY. daily couldn't even set a second HL.so weak. possible reversal candle on may 10th. bearish engulfing on may 11th. stuck under Ema's. loss of 200 MA on may 14th. Bearish ema cross on may 7th. after that free drop. 10 clear technical reasons for daily continued downtrend no unexpected news that caused this. plus : trend/News: British pound in a weekly downtrend since 1994!! Brexit weakness. trump called trade wars. .british prime minister news caused uncertainty -all FUD. macd histogram ticking down. bearish cross on macds on loss of 200 MA. downticking histogram since may 6th RESUME: NOT ONE SINGLE REASON TO GO LONG in this chart. but an almost perfect short from 1.295 to 1.27 just enter at the 200 ma loss of support. reentering the clear weekly downtrend for pound. no daily RSI oversold buy signal until 1.286 on may 17th. buying into this price is suicide! nothing unprepared or not clear in the chart. just a terrible trade and averaging down into weakness instead of closing and hedging at 1.29 now stuck hoping for oversold reversal at 1.26 slightly bullish reversal candle on may 23rd possible inv H&S on the weekly but unclear volume profile
BITFINEX:BTCUSD
by ChartmanChris
4
21 lessons learned (educational)This is what I have discovered over the last 4 years. It is not advice for anybody. If you identify with some of it, fine. If not, leave it alone. Share your own lessons learned. 1. If I'm on the right side of the trend, it is my friend - else it is my foe. 2. Stalk and plan ahead 90% of the time but trade 10%. 3. Do not chase. 4. Appreciate the power of chart patterns, especially head and shoulders pattern. 7. Markets often disrespect Fibonacci. 8. The RSI is useful at times and dangerous at other times. 9. Always have a sensible stop-loss based on the ATR or an indicator based on the ATR. 10. Study different instruments across all time frames - they have very different 'personalities'. 11. Manage emotions. My true enemies lie within me: fear, greed, revenge and hope. 12. Avoid the news - except for geopolitical or macroeconomic events. 13. Avoid hot tips, signals, courses and following people who set themselves up as gurus. 14. Prediction is nonsense. 15. Confirmations are myths - instead assess probabilities based on the overall behaviour of the market or instrument. 16. Learn from mistakes - even if repeated. 17. Discover and avoid internal psychological biases. 18. Get enough sleep. 19. Get it wrong up to 70% of the time, but limit how wrong - I accept that I'm a loser most of the time. 20. Break the rules a minority of the time. 21. Adapt to changes in the markets.
BITSTAMP:BTCUSDEducation
by Captain_Walker
How you NOT use Fibonacci! Support&Resistance for beginners!Hey everyone, welcome to my second Video about fibonacci and how you should and should not use retracement- and extension levels. :-) There is way more to say about resistance and support-levels. Since I only got 10 mins. for a video I can just talk about small pieces and highly recommend you to check more about this topic. I just wanted to give you an example how the market works and how it respects resistance and support-levels. There are more Traders than those who safe profit to cause resistance or support-zones. Stop-Loss-Levels gets triggered, Take-profit, fundamentals, those who are flat and wait for signals and so on. If you wanna see more about that topic just use the comment section and tell me more about your wishes. :-) You can also PM me! Peace and good trades Irasor Trading2ez Wanna see more? Don`t forget to follow me. :-) Need education or more signals? PM me. :-)
COINBASE:BTCUSDEducation
by Trading2ez
15
One of the biggest mistakes I ALMOST made: EMC2What's up guys, YoungShkreli in the building I want to tell you guys about one of the dumbest mistakes I almost made in December 2017 - and this is a very dumb (almost) mistake. Disclaimer: I'm not calling EMC2 a scam outright, but saying it is not to be invested in because it is speculative at best. Before I had read any books on traditional investing, I only cared about technicals and, in the tone of Charlie Munger, I would have traded turds had they looked cheap to me. Let me just tell you this and you can verify my wisdom by looking at this chart: don't trade turds. I had been listening to my emotions and I bought into EMC2. It was pumping so much and I was making so much money that I didn't EVEN LOOK into it. Thankfully, my trading strategy of exiting on a flipped ashi candle after a long run into the RSI saved me. What can you learn from this? TRUST the strategy. TRUST it and don't deviate once you've found a good one. And NEVER and I mean NEVER make a trade that you can't explain to yourself logically. SUMMARY: A truly wise person learns from the mistakes of others and to be a good investor, you MUST be wise. Don't listen to your emotions and don't trade turds :). Good luck bros, Young Shkreli
E
by CantorTechnologies
$ICX - Understanding what went wrong, what should've been done$ICX was supposed to make a bounce off the retracement lines but ended up far lower. Let's examine what happened and what I or any day trader should have done and seen. What went wrong: First off, we have the triple top formation highlighted in red boxes. This is an indication to look out for bearish reversal, and to find the trough of the triple top and watch for resistance. The dashed yellow trend line shows that it did happen. Next, $BTC value took a nose dive. At $ICX's ATH, value was at ~$11,000. It has been continually dropping and we're possibly seeing a reversal soon. Finally, news of news pumps a coin; news kills it. Historically, upcoming conferences and such lead to a ramp up in value rather quickly, then a dump to previous support. $EOS is a recent, good example. What should have been done: Watch $BTC trend patterns and forecasts. Sell or set a strict stop loss, try to identify the lowest supports possible. Identify the triple top, and if confirmed, scalp the resistance before it dumps. If broken through support lines, find the previous low and use that as the new support; find the new resistance by identifying shooting stars and sideways movement. At the moment, it looks like $ICX will break through based on the MACD and the bottom side wicks. It is still possible for it to drop to ~0.0003500 sats based on the triple top's peak to trough length. Watch $BTC for a reversal confirmation now.
Education
by NeoButane
Rough day in Crude oil - not every day can be peaches & creamToday was not a good day for me day trading Crude Oil. I find it very helpful when i write up these publications as it helps me see where I made my mistakes and hopefully I correct poor behavior. So indulge me here as I walk you through how I ended up losing $330 on the day (sim). .Because of the holiday atmosphere (and roll issues relating to May contract expiry) I did not trade my combine today but rather just put trades on in my practice account. Regardless of sim vs. live, I consider every trade I do 'live' so when I fail in my practice account I consider it a fail. Now on to the trades. I woke late (not a good sign in itself) and saw I missed the first BoT long setup off the double bottom registered through the Globex session. In classic FOMO fashion I took the first BoT setup that came on a greater than 33% correction in price. I, of course, assumed the bull market would go on endlessly. The setup was poor (at best) and I later realized it was on a bear momentum divergence (holy rookie mistake batman!).That long represented way too much risk (23 ticks) and I simply could never consider taking that amount of risk on a 'live' trade why I thought it was ok to do in the practice account eludes me. In hindsight one can see why we shouldn't take that amount of risk on any one trade. Anyway, that stop was hit and now I was 23 ticks in the hole. I must admit, I hastily stalked another setup to get revenge (another bad sign) and took the first BoT short that came along shortly thereafter. Again, looking back in hindsight, momentum itself was on the upswing when I put the short on and later did 'top' out - well after I was stopped out. So now 0/2 and down 32 ticks on the day. Even though it is just a practice account, I resigned myself to the fact that I just wasn't seeing the market correctly today and shut down operations. Sadder too, I see now a respectable BoT long setup working that I just simply could not consider taking. Hopefully while you read this you see similar trading mistakes made on your own part and can learn from a 'veteran' that we all make them. No matter how long you have done this, nor how 'rich' you are, a trader is always prone to making mistakes. How we learn/grow from those mistakes is what separates the pro's from the amateurs. Cheers, Brian aka CRInvestor
FX:USOIL
by CRInvestor
1