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.
Positivity
My Shiba Inu trading & investment planHello everyone,
today I want to show you my trading & investment plan on Shiba Inu. Shiba Inu is in everyones mouth right now. We all know that Shiba Inu is considered as a shitcoin.
However Shiba Inu looks amazing from a technical view.
What I noticed is, that we have finished our first Elliot Wave Cycle. We saw 5 textbook impulsive waves which are lead by a corrective wave A, now.
I'm expecting an impact of wave A on the 38%-50% Fib of the overall bullish impulse. To get an idea of where the journey might go, I have marked you possible buy & sell entries on the chart. What I want to see is a reaction on the Fibs I have been marking, just to be sure about the technical reactions of the Shiba Token.
My ultimate buy & hold point is on the bottom of wave C.
This is no trading and investment advice. Jus my personal and technical view.
RT
DogeCoin Shorting OpportunityDoge Coin looks weak on chart and any close below 0.15$ Could Trigger a Further crash due to lack of any supports on the down side. As Crypto market is bearish in short term this could be a good trade to make. Target is placed near the support and Stop Loss Should Be Placed Above Resistance.
Technical Analysis for FTM/USD. | Huge Profits for our follower Hi Traders,
I shared the Technical Analysis of Fantom FTM/USD before 2 days.
A Huge FLAG AND POLE BREAKOUT IN FANTOM. If you have took entry at our points, you would have made a Very - Huge profit.
SO If you have missed the trades then you can Consider our Next Points for Entry.
Note : Always use a Stop-Loss
Disclaimer : Crypto Trading involves a high risk. Make sure that you do your Technical Analysis too. Make sure that you don't use much leverage.
Dogecoin 6H TF Analysis : A New Rally ? As we can see, the price pumped after Elon Musk's twit which was "Tesla will make some merch buyable with Doge & see how it goes," more than 40% to 22 cents, and the price start to correct after reaching its key resistance and is currently trading in the range of 18 cents.
An important condition for the start a new rally is breaking of the long-term downtrend and Closing the price above 24 cents .
we also see that the price has broken its short-term downtrend and is pulling back to that level in 6H Time frame ...
Follow our other analysis & Feel free to ask any questions you have, we are here to help.
⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 15.DEC.2021
⚠️(DYOR)
❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
TrendTracers Weekly Market Analysis #14TL:DR
Review last analysis
Being conservative was the right play regarding the recent dump, since the worst case scenario happened. Price broke through the first major area of support and tested the second one faster than we anticipated , we took some losses because of that unfortunately.
Conclusion
Well, the market gave us a nasty crash last week which definitely changed some dynamics in the market. BTC flipped to the bearish side while ETH is still showing strength to the upside. Midcaps are still not interesting but some shitcoins might still be worth it for the short term. After big moves like this it’s a good idea to take a step back from the market and look at the bigger picture to forge your plans. There is no need to rush into anything based on the charts. We will keep you updated on further developments in the discord.
BTC
Bitcoin broke through the major area of support and tested the 40-43 area. The buyback is promising but we are still below the 53k resistance. As long as the Weekly candle doesn’t close above the 53k level a retest to the 42k area is likely.
BTC.D
Crypto in general had a very “red” week, interestingly BTC.D went down by about 2-2.5% this week . This correlates with the strength ETH is showing in the charts. If the BTC.D breaks down below 40% we can expect the chart to make new ATL for the first time since 2018.
ETH
Ethereum never closed below 3800 and it looks like ETH will close above the weekly baseline this week which is very promising.
ETHBTC is breaking out of it’s Bull Pennant and is moving towards our predicted target from last week. This in combination with the fact that ETH, for the first time in history, having a market cap over half of that of BTC is a very strong outlook for Ethereum’s near future.
Long positions will be on our agenda If ETHUSDT closes multiple daily candles above 4500.
USDT.D AND DXY
USDT.D reacted off the 2.5% low ,instantly testing the top of the range at about 4%. Right now it’s hard to tell if USDT.D is going up or down in the near future because it’s in the middle of the range between 2.5% and 4%. The break out of this range will help us determine the longer term trend of the market, so we will be watching closely!
DXY didn’t do that much, we’re still waiting for a break above 97. Otherwise the DXY will probably reject and retest the 94 area.
ALTS
MIDPERP failed to finish the ascending triangle pattern. Last week we said that we wouldn’t be bullish unless it closed above 4300, it never did so this told us we had to stay out of the Midcaps. MIDPERP broke down of the pattern and tested the low from July earlier this year at 2600. There is no reason to be bullish on the midcap until it starts closing above 4k again.
SHITPERP rejected from ATH and made a good pullback to the Baseline and previous support around 6200 finishing with a nice buyback to the 8k support.
₿ SAFEPAL 1D ₿ : 25.Nov.2021 (SFP)This analysis is a review of the #SFPUSDT daily chart and we can expect good growth from this Cryptocurrency considering its movement and reaction to the price range in which it is located. (Buy Recommendation) But Always do your own research (DYOR)
Follow our other analysis & Feel free to ask any questions you have, we are here to help.
⚠️ This Analysis will be updated ...
👤 Arman Shaban : @Ar_M_An_4
📅 25.Nov.2021
⚠️(DYOR)
❤️ To give us energy and motivation , please like and leave a comment. ❤️
LCDP ready to startFor several days I have been buying the Spanish project LA CASA DE PAPEL #LCDP on BSC on Pancake Swap. These are coins associated with the emerging game. The creators are not associated with Netflix but the game will be inspired by the series. The price of the coin is very low due to marketing that is just beginning. The token was already pumped by listing on CG and CMC. The number of available coins is 2.25B and due to its economy it is constantly decreasing. The tax is 6% (2% for marketing, 2% for holders, 2% is burned). My TP long term is a minimum of $2. The investment risk is of course high, but the potential profits are huge. Mathematics shows the potential for a price of $34. The project will be promoted on YT from tomorrow.
Mega POOP alert? ROBOTRADER 1.41 watchOK, this mega poop. Lottery ticket or toilet paper. It's :solid: ! :P
ENS “Dao token” back to 3$ This ponzi called ens came out this week and I think it’s going to be one of these pump and dump style coins coming into the market with a bang and then slowly bleeding to single digits. What I would like to do is wait for Coinbase to list ens and short the hell out of it after the next mega pump! If this ponzi pumps to $65 again then short it, it’s litterally worthless, these delusional kids think a domain registrar is worth billions, haha well your gonna see what it’s worth soon after all the insiders that got tens of thousands of free tokens dump on you idiots that came in and bought it after they airdropped it to an entire community who just lost their asses buying ponzi jpegs for ungodly amounts of money.
DOGe from 29 cents to over $2? Charts are impressiveWhat we know: Elon Musk will likely pay personal income tax by selling a small amount of his personal Tesla, a "cult stock that creams shorts that don't get IT" LOL I don't own any but I'll buy some to help! But would rather own the cars LOL Now, I don't know how Elon takes it all in. OMG. if I was him, I would sell 10% and put 1/3 in DOGe. 1/3 in Ethereum ETH and 1/3 in Bitcoin.
Why do people hate success instead of supporting it? Makes no sense. That's how we help humanity be better. We have to find solutions to hard problems. I support SpaceX, Elon, Tesla everything its stands for. It's not about the money, it's about the mission. The mission for GOOD.
I'm not about to tell a rocket scientist and top leader we have on this planet, what do to. I'm not a virgo LOL If he has women in his life, I'm sure he's suffering like the rest of us based on his past memes. The world and the financial backbone is broken, we have a solution, let's see that a REAL rocket in cryptophere looks like! LOL WOW GOOD
To one brother to another, I'm on board dogs! Let go! WOOF! LO
WOOF! WOW LOL
At your service,
Just a dog, a tiny fish and SpaceXcadet @JustCharts on the TV Clown Channel :P
Anatomy of a $HITCOIN Launch and trying not to get BURNED!For those late night cryptosphere observers, we can sometimes see rockets at night. This one might fly 5 sec, 5 min or 5 hours. Charts will the state of the bulls and bears to either get rid of this shitcoin before it explodes. $hitcoins are long-shorts. Yes, you might his the jackport but otherwise, you can expect they before the greatest thing, then die off. Sometimes, the "rug pull" happens faster than others. You might end up with an amazon.com or a pets.com after the spectacular .com crash. 20 years later, here we are again it seems.
Well cryto in the form of well managed Bitcoin and Ethereum is safe heaven. In this tutorial, I will attempt to show from the launch detection to the hopeful exit.
Does SHIM need our help? Donate to the Save the SHIB!!!Please donate to the SHIB foundation!
LOL What is the SHIB foundation? It's some random shitcoin that appeared out of nowhere and has surpassed established coins and 90% market cap of . I'm trying to connect the dots, look at as many original footage, not the endless repackage clickbait that make youtube next to useless now on these hot trending topics.
Trading wolf packs are all over this coin. WOW Ouchies! LOL DO NOT trust a single things said in the public chats. There, I'm just a dog with four paws and I return nonsense with nonsense. Regular people would shake their heads. Forgetting the fraud happening there with an unregulated, world accessible and free accounts to any dog, cat and bird out there, let's focus here or @JustCharts
Is this a shit coin? Will all holders lose their money? Maybe but I'm holding a near full position on this, we just need to push all time highs and this will explode. In all my life, I have never seen a chart like this and I've seen many. Coin trading is actually easier as you master the skill but really, as they say 20% of the people have the ability to focus and apply strict money management to curb loses We need to value things as they are TODAY. Not yesterday or tomorrow. That is the worst mind poison for a professional trader. It's certainly not for the faint of heart. Most people should just get Bitcoin on a cold wallet until Apple supports Bitcoin on their wallet.
I've learned over the year to only trade good quality. Over the long run, it cheaper and less hassles. For coins, they are all garbage expect Bitcoin and Ethereum to some degree. I'm flipping shitcoins. I don't want to be followed on my trades so if you need to contact me to chat, I'm happy to have good conversation with other traders to share information and help each other as humans should. Contact me anytime here @JustCharts
Getting back to the SHIB $hitcoin , call me crazy, because I'm really starting to think I'm a freaking DOG!, but doesn't this chart look like a dog? A Mad Space Scientist Rocket Funding little dog? Nah, wild speculations! Lock me up in my doghouse! WOOF WOOF WOW LOW Peace Paws
Donations? Rules:
1. Do not expect anything back except a lottery ticket with some crazy numbers on it.
2. Today, you get about a million little dog, "SHIM" virtual coins for less than $1000?
3. It might be backed up by the BIGGEST NICE ROCKETS but it's all hush, I don't know. Insider leaks? That shows up in the price action... Humm...
4. Don't blame me or try to contact me if I'm right. I'm not in this for the money, or attention, I'm doing this for the mission. The mission to do whatever I can, to help fix the mess we are in globally. And I'm not talking about the URGENT climate crisis. Stop buying gas cars Tesla was ridiculed for years by crookstreet and naysayers. They are the Apple of the auto industry and the biggest short as US automakers but they are being paid by our current and future children.
5. Expect to lose the money and if you make it big, pay it forward.
Good Data and Truth is at the foundation of any great society. We're heading there, Bitcoin provides that for our World Financial Backbone. It's there. Now we need some real regulations to protect it and us. The bankers who rule Western Society have to start sharing equally, or at least more fairly and honestly.
DOGE Party or Doge Funeral ?DOGE recently could break its resistance with a big momentum while Shiba lost almost 40% of its value. Now Shiba could return again while Doge facing the previous resistance as support. I am bullish on Doge as it is broken daily symmetrical triangle as well and I think Doge party will start soon after bouncing back from this local support (maybe need few times) and break the 1h downtrend.
What is your opinion? do you think Doge will reach 1$ by the end of this year?
NFA & DYOR
SHIBArmy, Push past 5000s to 6483 and hold the line! Help DOGE!SHIBArmy! Good job on raiding Wall Street Banksters. They are surrounded. No futures on this doggie, no ETFs, no paper to wipe this puppies butt! It's on fire ladies and gentlemen. Freeriding off amazing gains has never been so fine. Enjoy the ride up. When the masses want your shares, be nice and share. Keep at them, tell your friend to become SHIB millionaires and be part of the wall street BURN.
They print, we BURN! LOL
We need some soldiers from SHIBarmy to assist Mother of all mothers, Shiba Inu Dogecoin. The older gal is about to wake up to be named astronaut by her DogeFather. Don't miss the cheap tickets for the announcements, Just 25-26 pennies each! You can also buy a Tesla with Doge, WOW. Put aside $10K in DOGE today to afford a $50K Tesla in 4 months? SURE! $15K now in DOGE for a Cybertruck? SURE!
Get your Ticket to Shiba Inu's Rocket TODAY! 4 tickets per dollar, 400 tickets per $100. Take 25% of the massive gains on SHIB and PLEASE go help mommy! She should not be harmed, she should be honored and the god of dogs and the dogs of gods. OK, ok, sorry, I'm getting too passionate again. LOL
Taking gradual profits but don't find the charts of the trends... should be safe to near 7000s, charts will tell...
Give Thumbs up Please, And My Rundown on SHIB TokenHi Crew,
I give this coin the green light to be a grower and a future outstanding coin and concept. You do know there is a whole SHIB exchange with BONE, LEASH and other coins. This will work and it is common on the ground all over the world it's that bonding and meme that will also help this coin greatly but the marketing team is outstanding and it reached nearly all exchanges soon enough.
My idea is to just put aside some and HODL long time. Just leave it you won't time the market better. Or just to buy on a major crash is the go.
See the SHIB exchange here: shibaswap.com
Good luck with it I think it's a terrific coin. It has certainly proved itself now.
Cheers,
Dasha,
Obnoxiously Humorous TShirts
Disclaimer: Not financial advice this is just my idea.