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Psychology

Secret of trading mentality Hello traders 👋 Trading Mentality First of all, ask yourself this question. ❓ How did trading impact your life ❓ It is important to remember trading could help you reach financial freedom or could easily destroy your life. Everyone knows 90% of the time people lose their money while trading. But it doesn't stop them from trading. Once you start trading it's hard to give that up. Therefore, for anyone who is sure about starting their trading journey. Please pay attention to the following friendly advices. What to keep in mind when you trade ❓ Technical analysis and indicators are tool to help you do presumptions about trade, not a gaurantee that you will have successfull trades. For example, it is possible that you will have 9 out of 10 successfull trades and lose everything on the 10th trade. So what I'm trying to say is, instead of trying too hard to do presumptions. It is also important to prepare your trading mentality. What is trading mentality ❓ Anyone who trades studied more than enough about stop lose, risk management and technical analysis. Even though traders studied and uses all of the above, they still lose they money. Traders shouldn't be paying more than necessary attention to these. When traders start making profit, they start to release dopamine chemical in their brain. This chemical makes you feel good about your confidience, mentality and makes you forget about your fear of losing. For instance, when you fund your account with $500 and you want to make that incease to $10,000. You will start to think irrationally, make wrong decisions and lose. When you start losing, it negatively impact you financially. You can lose one month worth of salary clicking one button. More you lose more you become stressed and desperate to trade not to feel defeated. When start trading, your brian starts release dopamine again. You body feel more relaxed and feel less negative thoughts.You brain fill with happy thoughts. You will oversee your studies which you spent so much time on and lose money again. If it keeps go on, your life will go down rather than up. How to prepare for all this? Of course controlling your mentality. Next lesson will be on how to control your mentality. Trader, Doctor B.Yertunts

Education

by YertuntsTrader

Finding your optimal performance 🏃‍♂️Most traders spend a good bit of time looking at charts. Well here is a chart we traders should all take a look at. The chart shown is the Yerkes-Dodson Law. The Yerkes-Dodson law is a proposition that people perform best at intermediate levels of arousal, and that performance is lower at high or low levels of arousal. The theory behind this is visually represented by the graphic in this idea. No arousal levels or a bored/laidback approach to life will mean no stress but no real performance in what you are trying to achieve or do. However when arousal and stress gets too high by pushing to hard, performance starts to decrease. It's about finding the right balance to achieve an optimal performance. A certain level of stress about what you are trying to achieve motivates you to study, learn or train in order to do your best. A sportsperson has to get bumped up before an event as well as train hard, But getting to worked up and training to hard could cause a decrease in performance when it comes to the event. Pushing not hard enough to pass an exam will lead to a fail as you haven't studied or don't care, But also pushing to hard could lead to a fail as you've let stress and anxiety take over forgetting everything you studied. Moderate levels of arousal is best for overall performance. This theory can be applied to your trading. Take a non interested approach or bored approach and you performance in this area will be affected. Less potential profits etc. Get to focused on your trading or trade to hard could lead to poor performance along with a load of stress in your life. You as an individual will have to self reflect and determine where you fit on the curve in the idea graphic. If you fell more success, achievement and happiness can be had, by all means crack on and go for it! However, if you are getting to a point where you feel you might have reached your limit, it could well be time to dial it back a bit. Don’t push to hard for it that you go down the opposite side of the curve. This theory can be applied to every aspect in your life by using it to balance all aspects of your life will also help your trading as well as work, relationships and everything else we all go through day to day. Thanks for taking time to read this. Darren 🙌

Education

by pow_removetheguesswork

'Trading Psychology: 'The 3 Levels of your Game'Hello Traders, As we know trading is one of the most challenging professions in the world and not only do you have to do your research and own due diligence on a technical aspect, you must ensure your mind/emotions are on point as it is the most common reason traders lose money in this industry. I wanted to share a bit of information from a mental and emotional standpoint about breaking down the 3 levels of your Psychology Game. . No matter how skilled one trader is, everyone has an area that could improve and everyone will make mistakes. The 3 main mistakes we as traders make are: To summarize this chart, the differences between 'B' and 'C' game is that in the 'B' game you have the impulse or thought to make a 'C' game mistake, like closing a trade too early or forcing a trade. Instead you retain the presence of mind and emotional control to avoid it. In your 'C' Game, your emotions are too strong and you cannot stop yourself from forcing trades or cutting profits short. While in the 'A' game, the impulse or thought doesn't happen, or its too small you barely notice. Your goal to as a trader is to eliminate and correct your performance errors that cause your 'C' game. You cannot by escape how much of the gravitational force 'C' game has by focusing on improving just your trading skills and knowledge. You will continue to make the same errors (possibly different ones, but errors are errors) which will create a level of excess negative emotion in your mind. Creating and plan of emotions to examine & review on a daily basis will help you correct your failures and fill you with a different type of emotions, happy ones. By writing down your thoughts of what is going on before, after and during, you start breaking down the backend of your trading and your decision-making becomes much easier and more confident. Creating a plan of your emotions could come with a variety of things, some of the most common ones to watch out for are: -Trigger (eg. Swing trading forex) -Thoughts (eg. I can't believe I got stopped out, it has to go up!) -Emotions (eg. I want revenge on any trade that I lost which I know I should have won!) -Behaviors (eg. Overly focused on one position) -Actions (eg. Constantly looking at P/L) -Changes to your decision-making (eg. I need to get my money back, I need to trade more) -Changes to your perception of the market opportunities or running positions (eg. Your going off prediction rather then reaction) -Trading Mistakes (eg. I'm taking the same trade over and over, until its clear I'm getting no where) Journaling down these emotions and also reviewing them on a day to day, trade to trade, basis, will help your trading game improve and make you become much more successful. I hope this has given a brief insight on how trading psychology plays a huge role in our careers, please leave a comment and share what level of game you are! If you felt this has shared some good information, please hit the like button and follow me for more of these! Thanks Trade Safe!

Education

Think like a PRO and trade at ANY markets🔥Hi friends! Do you want to know what zones I marked on the chart? Put 🚀 and read to the end. In this educational idea I will explain a few traders secrets that will help you stay profitable in any market for the long term. Take Bitcoin as an example and you'll be surprised how often the same mistake is repeated by beginners and understand how professional traders take advantage of it. 📊 But first, let's find out why the psychology of the crowd drives the market Fortunately for professional traders, human psychology has not changed in centuries. Bubbles in financial markets now appear just as they did before the Great Depression🔻in the early 20th century, when stocks rose by hundreds of percent in a month, and just as they did during the Tulip Fever🌷in the 17th century, when the price of tulips really soared to the moon due to the huge demand for the flower. 🚩 This shows the similarity in the thoughts of people in the 17th, 20th, 21st centuries. It is these faults in human psychology that allow the patterns in trading to work and professional traders to be profitable over the long term. Just don't tell anyone about it!) 📊 Why do people tend to panic during a fall and get greedy during a rise? The fact is that our brain tends to paint wishful thinking in our imagination. When a cryptocurrency is rising, the imagination thinks that the price will rise forever, and you get excited just thinking about the possible earning. And the happiness hormones just keep surging. The opposite is the situation with the fall. When markets fall, our brain tries to protect us from more losses and forces us to sell cryptocurrency. 📊 What help the big players to control the psychology of the crowd? Of course, it's the media. Remember when news of the US recession was at its peak and it seemed like a crisis was imminent. Just at the bottom of the market, when Bitcoin fell to $17k and the SnP500 to $361. I may surprise you, but in 2018, 2020 people had identical thoughts and all thought Bitcoin would fall to $1000. The crypto market can fall lower to 10-12k of course, but just interesting to know did any of my subscribers buy cryptocurrency back then or at 17-19k❓Write in the comments./b] 📊 What are the areas on the chart? I marked 2 areas: 🔥The 1st area (white) is the areawhere the majority of traders, especially newbies, want to buy cryptocurrency. I call this " Bitcoin will rise to 1 million" zone. 🔥The 2nd area (green) is the area where most traders sell the cryptocurrency they bought at a higher price. Most importantly, it is where most traders believe that the fall will continue even lower and do not buy, expecting a fall. I call this "Bitcoin will fall to zero" zone. ✅How can you use the psychology of the crowd to your advantage? I can tell you from my own example that a clear strategy and working with indicators helps me. For example DOM and Footprint, where I can see huge whale orders and open a trade in the same direction as a big player. A large order is a clear signal✅, not a psychological speculation because of the news. A few days ago I showed in one of my ideas how Bitcoin rebounded from a large whale order. Bitcoin then grow by 4-5% in just a few hours. I also use trading systems such as Greenwich or Pump Tracker to identify Bitcoin and altcoins bottoms and ATH. You can see ideas about them on TradingView and their live results✅ It may surprise you! 🏁Summary. This knowledges are usefull for any market: crypto, stocks, ForEx, bonds etc. Human psychology and thinking are the same, but each market has its own specifics. Perhaps I will talk about this in the next educational ideas. Friends, was the idea useful to you? Have you noticed such psychological zones? Do you agree with this idea or do you think Bitcoin will fall below $17k? Write in the comments. 💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU. P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.

Education

by Yuriy_Bishko

Against Our Primitive Nature In Trading 🐵 “I think investment psychology is by far the most important element, followed by risk control, with the least important consideration being the question of where you buy and sell.” ~Tom Basso, Market Wizard A strong psychological foundation is the key to successful investing. The human mind is a powerful, complex tool that quickly turns into a double-edged sword to those untrained in its control. It’s like driving a Formula-1 race car. A skilled driver can push his racer to its limits, extracting every last bit of performance. A novice driver on the other hand is better off in a mini-van. Put him behind the wheel of an F-1 and he’ll end up crashing straight into a wall. Psychology, or emotional strength, is the basis on which high-performance skills are built. It doesn’t matter whether it’s top performing traders, all-star athletes, or extreme back-country skiers. When it comes to risky, high-pressure situations, the mind either snaps into a flow state or crashes and burns. Decision quality in these high-stress situations requires a person to be emotionally sound. And the only way to develop this emotional toughness is through consistent self-reflection. The goal is to intimately understand both your strengths and weaknesses. It’s been said that investing is the best way for a person to truly understand himself. The markets will quickly unveil every character flaw, insecurity, and weakness that lies inside. This is the nature of the market and it’s why emotions tend to run wild within it. Fear, greed, hope, self-doubt…..it takes psychological preparation to manage this barrage. The failure to do so leads to disaster. To deal with these emotions, it helps to understand how the mind originally developed. Humans evolved over millions of years, spending a majority of their time roaming the planet as tribal hunters and gatherers. The advent of cities with large populations is relatively new considering that the Agricultural Revolution was only 10,000 years ago — a small tick of time in the grand scheme of human existence. The fact that our brains were primarily developed within the harsh tribal lifestyle has many implications on our psychological makeup. It also explains why our pre-wired instincts naturally make us horrible traders. So then what’s the deal with emotions? Are they an inherent weakness to humans? NOPE!!! In fact, emotions are very useful in certain situations. Think back to the plains life: A tribal man is walking back from a hunt when he’s suddenly confronted by a mountain lion. As the lion comes into view, his brain’s amygdala triggers a fight-or-flight response. The man is instantly hit with various emotions like fear, aggression, anxiety, etc. At the same time, physiological changes take place in his body. Hormones like adrenaline, testosterone, and cortisol are let loose to prep the man to either fight or run. The man’s emotional/physiological response not only makes him stronger and more capable to survive this encounter, but it also enables him to make a decision in the blink of an eye. There’s no time to sit and ponder the best course of action in a life-or-death situation. Speed is key and emotions are instrumental in fueling rapid decision making. Okay, so emotions are great when it comes to dealing with mountain lions… but what about in present day market situations? Consider this: A man’s entire life savings is invested in SPY. All of a sudden, the market plummets 5%. And then another 6% the next day. The man is faced with both extreme volatility and huge losses. His family’s financial security is on the line. If he loses his savings, he can’t send little Timmy off to college. And if Timmy doesn’t go to college, he’ll definitely end up flipping burgers for the next 30 years at the fast food joint down the street. It’s a life-or-death situation. A decision needs to be made quickly. *Queue the mountain lion emotional/psychological response.* Rampant emotions are no good here. Rapid, haphazard decision making doesn’t help either. The man’s love for Timmy will only lead him to make irrational choices that’ll destroy his savings in the long run. In scenarios like this, the fight-or-flight response works against you. This is where cool-headed, rational decisions prevail. A trader needs to transfer his decision making from his emotional Amygdala to his rational prefrontal cortex. Doing so will help him overcome his immediate emotional and physiological responses in order to make a more sound decision for his savings. In addition to controlling these emotions, we also have to contend with our strong evolutionary desire to “fit in”. Think back to our plains-roaming ancestors again. They used to move in small packs that would provide each other with protection and support. All basic needs like food and shelter were met through the group. This reality made it vital that an individual be accepted by his group. If he wasn’t well-liked, he’d be ostracized and forced to leave, which was the equivalent of a death sentence in those days. A tribeless person would have a difficult time surviving alone and exposed in the wild. The conformists of the group were the ones who survived the longest. They were also the ones who reproduced the most, passing on their genetic code. The “fitting in” mentality became a dominant survival trait that grew stronger as it passed from generation to generation over millions of years. This is the reason we’re all born with the natural need to be accepted by others. Doing something that goes against the tide, especially something that could cause us to be rejected from our group, goes completely against our nature. This mentality may have made sense in the past, but it doesn’t make sense today… especially in markets. Does It Pay To Always Go With The Crowd Or Does It Pay To Think For Yourself? The answer is obvious — it pays to think for yourself. And many times independent thinking will lead you to do the exact opposite of the crowd. As Warren Buffet once said regarding Berkshire Hathaway’s success — “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Take March 2009 for example. Fear was running rampant and no one wanted to invest post-crisis. But this was the time when valuations were ripe for the picking. The market was getting ready to turn around. Going against the crowd and investing big during this period — being greedy when others were fearful — would have made you a fortune. This is why it’s so important to avoid falling victim to groupthink. An investor needs to make his own decisions based on his own convictions. But of course this isn’t easy. Thinking For Yourself Means Violating Your Biological Need To Be Accepted By Others. It Automatically Feels Unsafe And Uncomfortable . But The Ability To Manage This Negative Emotional Reaction That Comes With Independent Thinking Is The Key To Long-term Success . AVOIDING COGNITIVE BIASES IN TRADING. On top of rampant emotions and a dire need to “fit in” , our biological evolution also had another side-effect. It made us lazy. Back in the day we were faced with an endless cycle of feast and famine. We’d have short periods of feeding followed by long periods of minimal sustenance living. So naturally we evolved to conserve our energy as much as possible. If given two options we’re conditioned to choose the one that involves the least amount of effort. This applies not only to physical activities, but to mental functions as well. After all, the brain does account for up to 20% of the body’s total energy usage (more than any other organ). We’ll always go for the quick and easy solution over the tough one that requires more thinking. This is true even if the easy option ends up being wrong… To help facilitate this low-effort decision making we’ve developed Heuristics . Heuristics are simple, efficient rules we use to quickly make decisions and form judgments. They’re mental shortcuts that slice through complexity. Yet even though these Heuristics tend to work well most of the time, they can also lead to decisions devoid of rationality and logic. The resulting errors are what we call cognitive biases. Understanding these biases is important to help avoid them when making our trading decisions. Recency Bias Recency bias is believing what occurred in the recent past will continue to occur in the future. Say you flip a coin and get heads five times in a row. Naturally you’ll begin to think the sixth flip will also be heads. Heads is the trend. But in reality, you’d be wrong. This is called recency bias . You’re letting recent outcomes incorrectly influence your belief of future outcomes. No matter the outcome of the previous trials, the probability of the next coin flip being heads will always be 50%. Believing anything else is illogical. Investors consistently fall victim to this bias. It’s the main contributor to the complacency we see during each market cycle. Consider the “buy the dip” mentality that plagued the post-QE era. One of the greatest financial crises in history occurred 8 years prior, and in the time in between investors trained themselves to throw risk management out the window and aggressively buy more each time the market fell. It’s true that “buy the dip” worked well during that time, but there was no guarantee it would work in perpetuity. This is especially true considering the nature of market cycles. Strategies tend to work for a period of time until they don’t. And it’s usually the previously successful strategies that end up failing the hardest in the new environment. No one wants to be caught buying the dip when the market morphs from bull to bear. But unfortunately, recency bias leads a majority of investors straight off that cliff. “Buy the dip worked before… so it must work again!” Nope. Sorry. Gambler’s Fallacy On the other side of the coin (pun intended) we have the gambler’s fallacy (also known as the Monte Carlo fallacy). This is the opposite of recency bias. It occurs when you start believing that because a certain result happened more frequently in the past, there’s a higher probability a different result will occur in the future. Take the coin flip example again. Someone who flipped heads five times in a row may think the next flip has to be tails because of the 50% probability associated with the game. This is once again illogical. Over a large enough sample of trials (which can be performed through a Monte Carlo simulation), the number of heads and tails will be evenly split. But over any individual, shorter stretch, there is no requirement they must show up equally. You can have 100 head flips in a row and yet the probability of the next flip will still be 50% heads, 50% tails. The Gambler’s Fallacy is thinking the probability of a tails flip has increased based on the previous streak. Our “buy the dip” example once again shows the dangers of this bias in markets. The post-QE era was littered with the corpses of fund managers who tried to short the indices. Why’d they do it? It’s because they thought that after working so many times, “buy the dip” had to fail eventually. “Business cycles only last 5-7 years. It’s due time for the market to correct for real and blow out all these “buy the dip” idiots.” Again, this is not how it works. As John Maynard Keynes once said: “The market can stay irrational longer than you can stay solvent.” Sunk-Cost Fallacy / Loss-Aversion A sunk-cost fallacy is continuing an endeavour due to previously invested resources (time, money, effort) even when the optimal decision is to stop. Ever get full at dinner, but finish your plate anyway because you don’t want to waste the good money you paid for it? That’s the Sunk-cost Fallacy in action. Loss-aversion is the tendency to strongly prefer avoiding losses to acquiring equivalent gains. The pain of losing greatly overwhelms the pleasure of gaining. Marketers use Loss-aversion all the time. Which of the following headlines make you want to buy more? “Buy our insurance and save $100 a month!” Or “You’re losing $100 a month on insurance. Buy ours and save!” The second one of course. The thought of losing $100 is much more powerful than the thought of just saving it. Both Loss-aversion And The Sunk-cost Fallacy make it difficult to cut losses in the market. No one wants to cut a losing position after spending countless hours developing a thesis. It feels like a waste… all that work for nothing. It becomes easy to find yourself attached to an investment because of the Sunk-cost Fallacy. But this mentality is completely irrational. Refusing to cut a loser, regardless of the initial time investment, leaves you exposed to an even larger total loss (time & capital) down the line. Cutting a loss also becomes even harder when loss-aversion comes into play. Taking a loss not only means admitting you’re wrong, but also turns your paper loss into a real account drawdown. This is too much to handle for most, even if it’s in their best interest. The illogical fear of taking the pain now opens the door to even more pain in the future. Confirmation Bias Confirmation bias is seeking out information that supports an initial thesis while disregarding all else. Rose-colored glasses are a large problem in the investment world. Too many investors find a company they like and then proceed to become its #1 cheerleader. They only look for news and press releases that support their positive image of that company. Any fundamental warning signs are immediately disregarded and objectivity is squashed. This is asking to be unpleasantly surprised in the future. Confirmation bias creates a dangerous blind spot that has a high likelihood of decimating a trading account. Observational Selection Bias Similar to Confirmation Bias , Observational Selection Bias involves noticing a particular idea and then falsely assuming that the frequency of available evidence supporting that idea has increased. Say you develop a thesis that Solar Stocks should take off soon. And as soon as you create that thesis, you start to notice a huge increase in News stories and data that support it. This makes you even more confident in Solar Stocks. This is most likely the bias in action. Developing your initial solar thesis has you primed towards certain types of information. This priming is very easily confused with actual increasing sentiment towards the solar sector. Objectivity is once again smothered, making this bias crucial to avoid. These Cognitive Biases are completely natural to have. And that’s what makes them dangerous. We need to stay vigilant of these biases to make sure they don’t creep into our analysis process. Objective analysis is the key to success in the markets. But for objective analysis to flourish, biases need to be squashed. PLAN YOUR TRADES AND TRADE YOUR PLAN Clearly Our Biology And The Biases That Come With It Are Hazardous To Our Financial Health. But how exactly do we solve this problem? The trick is to Plan Your Trades And Trade Your Plan. The First Step To Successful Trading Is Creating A Solid Strategy That Accounts For Every Possible Market Scenario. High Volatility, Low Volatility, Black Swans, It Doesn’t Matter. Everything Should Be Planned For. Nothing Should Be A Surprise. A Detailed Strategy Will Pre-plan The Action Steps You’ll Take In Specific Market Situations. This Ensures You’ll Have Strict Guidelines To Follow When Your Emotions Inevitably Run Wild. Your Past Objective Mind Will Have Already Made The Correct Decisions For Your Current, Emotionally Charged, Irrational Mind. This Is How You Avoid Destructive Choices In The Heat Of The Moment. But This Only Works If You Actually Execute Your Plan When The Time Comes. This May Sound Simple. And Honestly It Is. But That Doesn’t Mean It’s Easy. Execution Is Difficult Because Our Biological Wiring Does Everything In Its Power To Prevent Us From Pulling The Trigger. Our Emotions And Biases Flare Up And We’re Forced To Do Battle With Them Before All Else. The Best Trading Plan In The World Won’t Prevent Your Fight-or-flight Response. It Won’t Cure Your Dire Need To Stick With The Herd Or Your Cognitive Biases Either. You’ll Still Experience All The Feelings That Come With Your Biological Reality. There’s No Way Around It. That’s why you need to accept it. Let the process play out. Feel what you’re feeling. But as it happens, take a step back, and from a distanced view, fully acknowledge what’s occurring. Objectively analyze it: “The market just dropped 400 points and I’m feeling x, y, and z. Why am I feeling like this? Should I be feeling this way? How should I react?” Explicitly following through with this exercise, either mentally, or even better by physically writing these questions and answers down, immediately switches your brain from using its emotional Amygdala to its rational prefrontal cortex. The process will prevent the type of knee-jerk decisions you’re trying to avoid while reminding you to stick to your pre-defined trading plan. Another effective tactic to ensure execution is reducing your stimuli. If the market is crashing, don’t sit in front of your computer screen and watch it. Every tick will cause an emotional response. And the more frequently you have to deal with these emotional responses, the more likely you’ll succumb to them and deviate from your trading plan. Just like you don’t trust a toddler with a bunch of colored markers in an empty, white-walled room, we don’t trust ourselves with a mouse and keyboard during trading hours. Both result in a mess. As the Legendary Trader Peter Brandt said: “Trading an upstream swim against human emotions.” These are wise words from a wise man. Plan your trades and trade your plan . That’s How You’ll Win In The End. & Thank For Reading Untill End, No Problem If You Skipping Some Text. I Hope You Find Something Useful In This Post. Stay Safe & Good Luck. Thank Alex Burrow MACROOPS Thank For Artist The Image

Education

W.D. Gann’s 28 Trading Rules - Part 2 When you decide to make a trade be sure that you are not violating any of these 28 rules which are vital and important to your success. When you close a trade with a loss, go over these rules and see which rule you have violated; then do not make the same mistake the second time. Experience and investigation will convince you of the value of these rules, and observation and study will lead you to a correct and practical theory for successful Trading. Like and follow for more!

Education

by UnknownUnicorn33550147

W.D. Gann’s 28 Trading Rules - Part 1 When you decide to make a trade be sure that you are not violating any of these 28 rules which are vital and important to your success. When you close a trade with a loss, go over these rules and see which rule you have violated; then do not make the same mistake the second time. Experience and investigation will convince you of the value of these rules, and observation and study will lead you to a correct and practical theory for successful Trading. Like and follow for more!

Education

by UnknownUnicorn33550147

Is mindset holding you back 🤔Trading can be a rollercoaster of emotions. Many traders are unaware of when their state of mind leads to underperforming trades and why it happens. We are all different and unique when it comes to trading, and understanding the type of trader you are is essential to your success. Traders can spend a lot of time studying technical indicators and strategies, but understanding the psychology driving your trading decisions is just as important. The first starting point of getting on the right path in regards to trading psychology and emotions is by having the right one of two mindset choices. There's two mindsets which will effect your trading results and progress massively. They are 'Growth mindset' and 'Fixed mindset' Of those two mindsets there is only a place for one when it comes to trading and that is 'GROWTH MINDSET' The graphic on chart shows the difference between the two mindsets. If you can't ditch the 'Fixed mindset ' you will never be able to progress in trading. No matter how great of a trader you think you are, or how well you think you handle your emotions. It's impossible to remove them from the equation completely when trading. When emotions are combined with a 'Fixed mindset' mentality however you are going to feel emotional pain and loss of money when it comes to your trading. Once you have learned to recognise your mindset, you can then begin the next important step of switching to the ' Growth mindset ' People with a ' Fixed mindset ' believe they are born with a certain amount of intelligence and that it is fixed for the rest of their lives. People with a 'Growth mindset ' however know that intelligence is not fixed and that you can in effect grow your brain. They see their traits as just a starting point and know that these can be developed by hard work, effort, dedication and challenge. Having a growth mindset can improve your progress and attainment and this is crucial in being successful as a trader. The brain can be developed like a muscle, changing and growing stronger the more it is used. Your abilities are also very much like muscles they need training in order to perform at their peak. You can learn how to do anything you want to do and you can get better at whatever that is with time and consistent practice. Even if you have what you perceive to be a talent or ability for something, if you never practice that talent or ability you simply will never improve. Applying this theory to your trading game will help you grow not just your accounts but as a person also. Get that 'Growth mindset' and start believing in your ability to change. Thanks for looking. Darren 🙌

Education

by pow_removetheguesswork

This mistakes can rip your deposit Everyone goes through the path of their own mistakes, gaining experience. But maybe this video can help you avoid some mistakes in the future, if you have just entered the cryptocurrency market. The first mistake, and perhaps the most important, is not to analyze your actions. It doesn't matter if it's trading, futures trading, participation in an IDO or simple investments. When you make some action on the market with your deposit, and then lose or earn money, always analyze what you did right and where you made a mistake. You entered a trade without a stop loss and lost part of the deposit, you did not analyze the period of coin unlocks and bought at the wrong time, or bought on greed already at too high a price. You must understand that there is no more money in the market, it just flows from one hand to another. If today you have earned, then someone has lost. So, do not ignore your actions, keep a trading diary, tracking your portfolio for investment. Analyze why you are buying this coin, what you intend to receive and when to exit the project, options for exiting the project if everything does not go according to plan, where you will transfer your money if you exit the coin. What tools will you use while trading, what indicators and why. Also write down your psychological and emotional state at one time or another, this will help you invest money more rationally in the future. The second mistake is that you are simply trying to copy someone else's trading or investment strategy. Perhaps somewhere you saw someone's advice that should bring you millions, and you began to blindly repeat the same actions, but no one gives you guarantees in cryptocurrency. What worked in 2017 may not work in 2023 , you have to understand that. You must work out for yourself two investment strategies and a trading strategy. Conducting analysis and working on their improvement just for yourself. Because if one strategy becomes available to everyone, the market maker will do everything to ensure that this strategy stops working. That is why classical tech analysis practically does not work in the cryptocurrency market. Do not try to shift the responsibility for your income or losses to someone else. Your money is your decision. The third mistake Do not invest the entire deposit in one coin. Diversification. If you invested in 100 projects and 80 of them failed, then you will still end up with money. But if you invest in one project that fizzles you will lose all the money. I think the recent terra luna example is a great example. I’m afraid to upset you, but everything is possible in cryptocurrency, so even coins such as ether, cardano, polkadot, bitcoin are also not immune from falls. The fourth mistake is to sit 100% only in cryptocurrency. Even if it is a stable coin. The recent example with ust also perfectly describes this error. Nobody knows what might happen to usdt or stablecoins in general in the future. Therefore, withdraw part of the funds always into real fiat money in the real world. Buy something for yourself, your money should bring you emotions and you should see the physical result, and not just the numbers on your wallet. Don't wait until you reach a certain amount. Perhaps at the peak you can lose everything. You can’t fall in love with projects, those projects that were in the top 10 in 2017 are not in the top 100 now. Think about it. The cryptocurrency market is changing and new projects will appear every year. Earn money, not just the number of coins. Don't be afraid to take profits, you will never hit the bottom and you will never hit the top of the market. Fix gradually, and buy coins step by step. Creating your average check. Remember, many projects are launched to earn money by their creators. No one is interested in what ordinary investors would earn. Don't be greedy and always take profits. I had an example with ShibaInu. I bought this coin even before the listing on binance, and during the listing, I did not sell the coin without taking a profit of 200k. That's when the market crashed. I fixed part of the profit, and also part of the profit on its subsequent growth. But if I hadn’t been greedy, but fixed it and bought it back, but already cheaper, I could again earn another 200 thousand in November at the new peak of the market. In the end, I did not do this, because I succumbed to the information field that this project would grow. As a result, Shiba Inu lost capitalization from 42 billion to 14 billion. That is, someone fixed a profit and next time they will invest this money in a new project. Don't fall in love with projects Share with your friends who are just starting their journey in the cryptocurrency world. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!

Education

by Crypto4light

Hagakure : Trade Like A Samurai 🏯👺The Hagakure: The Book of The Samurai records Yamamoto Tsunetomo’s views on bushido and the warrior code of the samurai. It was written in the early 18th century and explains many principles of the Samurai warrior. Many of these same principles can be used in business, sports, trading, and investing to achieve a warrior mindset and overcome your ego and emotions along with your adversaries. Bushido Code The Bushido was a code of conduct for the Samurai consisting of 8 core principles. Righteousness Heroic Courage Benevolence & Compassion Respect Integrity Honor Duty & Loyalty Self-Control Let’s apply these same principles to success in trading and investing. Trading Like A Samurai Doing the right thing: If you have your own system, method, and process with an edge over the competition then if you follow it you should be free of guilt and regret. Knowing you are doing the right thing is a powerful psychological tactic that frees your energy and creates single-mindedness and focus of action. Confidence in yourself and your strategy : You can take immediate action to follow your strategy when you have faith in yourself and your process. Faith in action leads to less stress when facing unknown future events. Positive self talk : We must be a friend to ourself with internal self talk. Our own inner dialogue and thoughts should be positive and like that of a friend and coach not an enemy. Self respect: We must appreciate our past successes and have confidence in our path and future goals. We should never talk negatively about ourself to others. Right action and effort creates self respect, laziness and wrong action hurts it. Know yourself : Be whole and undivided in who you are and what you believe. Ensure your actions match your words and beliefs. Honor: Samurai were warriors with a sense of self worth and lived by the highest code of behavior and conduct. To abide by the principle of honor, we must acknowledge your moral responsibilities for taking actions consistent with or systems and beliefs. Doing the work consistently: We choose the method we will focus our work and effort on at the beginning of our journey. Then our path consists of executing loyally to our goals. Managing emotions, desires, and ego: The ability to use your mind and your principles to override feelings, wants, and arrogance is true power. A true samurai first defeats their self before facing any external enemy. "Study hard and all things can be accomplished. Give up, and you will amount to nothing." - Yamaoka Tesshu. Thank For Reading This, Hope You Find Something Useful In Here. Source The Hagakure : The Book Of Samurai By Yamamoto Tsunetomo ,Steve Burns.

Education

Learned helplessness in trading BINANCE:BTCUSDT A classic situation for a trader is the fear of opening a position, dictated by the negative previous experience in an identical situation. How usually manifested after a series of failures (losing streak) and leads to ignoring further trading setups. Let's look at this case in more detail. The material will consist of three components: The biological component describes the possible mechanisms of the brain in the field of decision making, touching on the cognitive error described above. This cluster is of no practical use in the context direct solutions to the problem, but brings the understanding that not all mental processes can be felt at the objective level perception, but can latently contribute their own changes in behaviour patterns. And the psychological component describes the mechanisms problem in terms of psychology person. The release of adrenaline does not necessarily lead to reaction, according to the strength of the corresponding reaction “beat or run", but to some extent capable induce a general mobilization of organs and systems. This is manifested in an increase in heart rate and respiratory rate, dilated pupils and other reactions directed to fight stress. Similar episodes of stress are also recorded by the cortex hemispheres and hippocampus with the formation associations. In the future, these associations will intensify, if negative outcomes prevail over positive. Association cortex conditionally "compares" the number of positive behavioral patterns and positive emotions with quantity negative, preferring to slow down the launch behavior that led to stress. Learned helplessness is a state in which an individual does not attempts to improve his condition, although he has such an opportunity. The key factor causing this condition is imaginary inability to influence the situation, and lack of connection between actions and results. However, if the negative situation is repeated repeatedly, there is a feeling that there will be more only worse. To begin with, it is very important to understand that there is no magic a method that will restore confidence in one's own actions. One way or another, you have to do it on one's own. Psychology cannot solve your problems instead of you. It can only point out some points that worth considering in order to form the correct an approach to accept negative situations and help find a way to solution to this problem. So, what to do if it works for you psychological "feet" before making important decisions based on the previous negative experience? Here are some practical tips. Catch yourself by the hand every time thoughts visit about failures that are not related to a specific situation, but projected from the past. The brain accumulates sums up negative experiences, which is common cognitive error. Although due to feelings of learned helplessness in humans and may give the impression that his chances of success after a series of failures, much lower than it really is, In practice, they are not at all diminished by the fact that was earlier. Your chances of success in this particular moment are always static and depend only on the cold mind and clear calculation. While this may not be easy, it is necessary get rid of emotions and conduct a substantive assessment their results. At what point was your result positive and why was it so? And in what moments your result was negative and,Of course, just try to find out. Probably, if you analyze your failures, you can visually observe that between your failures there was no relationship, but the fact that they went in a row, or the fact that lately there are too many of them - not more than a coincidence. If you determine that the reason for your failures was specific (impulsive decisions/exceeding risks/ignoring your own rules), you you can learn from this experience and, in the future, avoid repetition of such situations. No matter how banal and paradoxical this may seem advice, but it really works in practice. Our the brain is designed in such a way that when we give in to problems, we lose faith in ourselves and our own success. This does not mean that one should act recklessly. However, if you objectively assess the situation and decide that acting now is a good option which fits within the framework of the strategy, do not ignore such possibility. In case of failure, you will gain experience, and afraid to try, you will only start stronger believe in your own helplessness. The problem is sometimes not the situation, but the loss of will and belief in the significance of their actions. The “act when you decide to act" allows you to save or regain a subjective sense of control over situation. If accumulated failures have undermined your faith in success, false beliefs about their abilities. Since it didn't work out before, will succeed in the future. In time, man pays more attention to the experience that confirms this assertion. It only focuses on negative results, ignoring exceptions when he did it all. These fears of failure kill future success. Due to the formed negative thinking patterns in the human imagination is drawn only sad turn of events. In such situations it is important to find special cases of your own success in past. If you lack self-confidence, remember when did you get it right? Think about these sensations. It is necessary to learn to see alternatives, positive developments that form a new self-image opportunity to influence what happens in positive key. In the end, I would like to say that failures happen with absolutely everyone. And it's up to us how we We respond to them and deal with them. Do you lose confidence in yourself and your abilities? or accept failure, analyze, learn from it experience and continue to work, developing on professional field, looking forward to the future success? Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!

Education

by Crypto4light

What to include in your Trading Routine Most people dive straight into trading without knowing how or why. They also don’t plan ahead. This is why most people are unsuccessful at trading. Having a well developed plan is KEY 🔑 to trading success! Let’s see what in must need in trading routine: 1. Trading Journal 📝 You won’t improve without a trading journal, your whole trading routine is built around your trading journal. The time you’re trading without one is wasted time period. 2. Backtest 📌 Do it every week at least once. Backtesting increase: - Confidence in your strategy; - Self-confidence to execute it; - Discipline (when you’re confident about your strategy, you are more likely to respect it.) Tip: Journal your backtested setups. 3. Weekly mental preparation ⏳ Write down things like: - What are the things you want to work on. - What are the habits you want to improve. - What are your goals for next week. 4. Technical preparation 💡 - Make your analysis. - Study the different price scenarios. - Prepare your trading ideas. You can do it weekly or daily depending on your needs. 5. Weekly performance analysis 🎭 Open the psychology section of your trading journal: - What did you do well? - What could have you done better? - What lessons did you learn? - Realization about yourself, your strategy and the market. 6. Wins and Losses analysis 🌓 - Open the charts of your trades one by one. - Read your mistakes - Write down at least one lesson you took from each trade. Tip: always take a screenshot at the exact entry point of each trade. This allows you to mitigate the hindsight bias and develop your pattern recognition skills. 7. Writing ✏️ Write down your thoughts and emotions on bad days. It helps you understand your mind and gives you clarity. It’s a great way to focus on the process and be patient. 8. Activities outside of trading 🚴🏻♀️🚣🏻♂️ You’re going to lose motivation and belief with your trading many times, you need to have extra motivational source. If you only rely on your trading results to feed your persistence, you ganna give up easily. If you like this content help me grow ❤️🌱 I’d be happy you add more tips to learn from each other

Education

3 paradoxes in trading In life, as in trading, there are many paradoxes. Some things are obvious, some are not. With experience comes awareness, and we begin to see what we have not seen before. Understanding the fundamental principles will help you move on correctly. Paradox #1: The more you need money, the longer you won't have it Everyone who came to trading needs money. Often a new trader is a person who has recently lost his job and now hopes to earn them by trading. Here they will be disappointed. After all, trading is a very risky activity, and if you still do not have knowledge and experience, the risks increase to the skies. When you are in desperate need of money, your thoughts and actions are driven by emotions, not logic. And your trade is doomed. As the saying goes, "if you can't afford to lose, then you can't afford to win." The more you strive to make a profit from trading, the more it will elude you. If you came to the market because you really need money, your brain is already set up for emotional mistakes. This is a bad attitude, leading only to big losses. Paradox #2: The more mistakes you make, the more likely you are to succeed Mistakes are good! If you don't forget to learn from them. If you lost everything and still didn't give up, you got closer to victory. This is a very important point, most of them give up here, and the best continue to work. No matter what anyone tells you, the most important thing in trading is practice. Nothing in this life teaches better than the good old practice. Real trading will immediately show all the flaws of the above trading system, flaws in your brain. This is the best teacher, but don't forget to listen to him! Make one mistake, write it down and don't repeat it again. Work it out and continue trading further. I promise that you will learn much more from this experience than from any trading seminar from the "guru" of trading. Make enough mistakes (and learn from them) and you will start making money. It's very simple. Paradox #3: The more you are convinced that you are right, the less likely it is that you have the right knowledge "One of the problems in our world is that smart people are full of doubts, and stupid people are full of self–confidence" - Charles Bukowski. Some people may say that trade is neither a science nor an economy. Unlike the physical sciences, financial markets simply have too many unknowns to have a high degree of confidence in the accuracy of forecasting future prices. To send a rocket to Mars, it is enough for us to understand the laws of physics accurately, but we cannot predict tomorrow's market prices with approximately the same degree of accuracy. Why? This is because we can rely on the laws of physics that remain unchanged, but we cannot rely on the same thoughts, moods and actions of people who essentially drive the markets. The best retail traders understand that regardless of the thoroughness of their analysis, there is still much that they do not know and cannot know about the market. Thus, when they are "lucky", they use trading methods that increase their profits, and when they are "unlucky", they use trading methods that limit their losses. In trading, as in life, confidence is nothing but an illusion. Good luck! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Education

Can Interest Rate Be Traded Or Invested?How can we participate in the rise and fall of interest rate? Firstly, we need to understand the difference between interest rate and yield. Interest rates are a benchmark for borrowers whereas yield is for investors or lenders. • Interest rates are the fees charged, as a percentage from a lender for a loan. • Yield is the percentage of earnings a person receives for lending money. Both move in tandem together, meaning if yield moves higher, interest rates will follow. Discussion: • Direction of the Yield in the short-term and • Direction of the Yield in the long-term Divergence in a bull market means the bull is losing its momentum, keep a look-out for trigger points that may cause further stress to the market. Micro 10-Year Yield Futures 1/10 of 1bp = US$1 or 0.001% = US$1 3.000% to 3.050% = US$50 3.000% to 4.000% = US$1,000 Note: Micro Treasury futures are not micro-sized U.S. Treasury securities. They convey no rights of ownership, nor or they pay or accrue interest. Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.

Education

08:34

Basics of trading psychology + mecanism to improve winning rate Hey everyone Today we will make the cheat sheet with good tips of trading psychology and mecanism to improve his efficiency while trading. This is important because I think they already said to you : "trading is 90% psychology and 10% Technical analysis" , indeed it is. Because a trader with the best technical analysis but poor trading psychology and mechanism will got very low performance or will stay a break even trader or even worst ! a loser :( Why do you need psychology and mechanism to trade well? because it's like if you are in a car but you don't have break, or it's like jumping from an helicopter without parachute. You are going to a complete disaster. Market psychology is essential for the good health of your trading account and also your physical/mental health (yes to keep losing and losing put you in a very bad mood and can be potentially) I will resume all and go deeper on psychology and mechanism on this text to get the best potential of this lesson, the chart is only partial. It's good to print them and have them always on your desk while your trade So lets begin ! 1) maximum % loss reached per day = no more trade Taking losses put you angry, emotionally weak and provoke reaction most of the time. you will be in a mind to recover your losses. But learn when to stop is the best thing to do if you want to survive. You'll have to deal with losses literally everyday of your trading career. learn to tame/manage them and you'll be always safe. tips: cover your losses with your winning trade (by taking half) when you can. If you can't wait for the next day to trade. 2) adding to winners and don't touching at losers This is the simplified sentence of "let run your winning trade and cut your losses". this mean don't cut your loss manually because you'll always use SL. This means don't bother you with losses (again), just try to add some trade on your winning trade when you already took half. This is a good potential wealth accident 3) dont look at the price when you take a trade Don't stay blocked in front of your pc, go for other activity and keep an eye on the trade but not every seconds of every minutes of every hours ;) 4) don't chase the price (wait for a real opportunity, a real good plan), including fight the trend (don't force the market) High quality trade gives you High quality potential of win. Focus on the quality of your setup and then market will surely give you your wage. 5) Find the most profitable SL on each market to have a too short SL put you in losses more often, and when you have a too large SL you wait too much to take your win. Find the optimal SL for each market (ex: personally I use around 200 pips SL on each of my forex trade. Sometimes a little less, sometimes a little more but I try to have the optimal SL that gives me the optimal potential of winning rate. 6) no emotions, you win it's good, you lose it's ok The market isn't your psycholog, you'll trade very bad and make a lot of errors if you have emotions while taking loss and wins (try to avoid them, emotions is human but get outside of the market when you feel your emotion taking control of you trading). Don't rationalise every losses. (try to find the errors to upgrade your trading style but understand that sometimes market is simply irrational) 7) don't take a trade on the same market immediatly after taking some loss. refers to rule 2 and 4. wait some hours or some days. Focus on finding other opportunities,you'll always find opportunity on the market. don't torture yourself if you don't took a trade at time or if you lose it and can't retry 8) avoid following other ideas ideally make yours to become a better trader. 9) trade like a robot (no bad / sad moon, no angry, no revenge trade) refers to rule 6. Even a small thing (like a dispute with a friend) can make you sink into the wall. Be totally calm and without aftertoughts 10)stay humble or the market will humble you be satisfied with what you got by the market. if you did your average weekly performance be satisfied, if you make more be satisfied, if you make less be satisfied. 11)Make the choice to don't trade is also trading when you feel bad about a trade (not sure) and you don't take it you preserve your capital. so you avoid loss. but don't be extreme and avoid every trade. it's exceptional 12) follow the trend trend continuation trader have best result then countertrend traders. refers to rule 4, don't try to find every tops and bottom, If you found a reversal it's ok but don't focus on them. principally use trend continuation method. Dont forget to like and subscribe if you want more content

Education

by UnknownUnicorn41061907

Bear Market Rally BINANCE:BTCUSDT Bear market rally Prior to anything else, it's critical to realize that we are currently in one of them. Bear market rallies are brutal because it's difficult to predict how long they'll last, how strong they'll be, and how long they'll last. It is challenging for most individuals to comprehend this because they lack patience and think in terms of the most minute time frame. Rallies that periodically occur inside the downward macrotrend create a downward trend with lower highs on high periods (from 3 days to 1 week). Some of them result from cutting short positions in order to profit and start new short positions at higher levels. Ultimately, a redistribution takes place after several weeks of growth of 30–50% (or possibly twice that, depending on the market's structure). Before they pull the rug out from under people, they need to think that the macro trend has altered. The market's function is to take money. Although he is capable of giving in, movements usually happen when traders are not around. The price rises if everyone is short. Down if they are long. Although it seems strange, it is true. The market is an evil steed. You are forced to buy when prices increase. Moving lower encourages selling. You must act because of the price. Keep in mind the feelings you have as you move up or down. There won't be much market share lost if the price declines uniformly. However, the availability of rebounding enables powerful players to profit from movements in both directions while also taking the most money possible from you. Months of decline, followed by a recovery. You don't believe it at first, but it keeps getting stronger. When you finally give up and put your chips back on the table, they again take them away from you. Before you declare that a fresh bear market has started, consider how long downtrends often persist. You should expect downtrends of one to two years and possibly a year of unpleasant sideways movement. Both in the cryptocurrency market and the stock market, there are a ton of historical examples of this. Look at the numbers and consider whether the extra funding can sustain the FDV of a sector whose overall valuation has increased 7 times. Do we have a sudden increase in users? new currency The levels of BTC , ETH, ADA, and SOL as of today were marked to the nearest dollar six months ago. These are merely precursors to a bearish comeback and nothing more, as the primary macroeconomic issues still exist. There will be multiple chances over the coming weeks to sell the rise and rebuy lower. After that, the decline will likely continue or there will be a long flat. If someone tells you there will be a new bull market but doesn't know how or why we got here, don't believe them. Any powerful move up will inevitably be met with a countermove below. You'll now start to wonder why you didn't take advantage of the opportunity to make a profit. Don't be frightened to simply progress upward gently. Protect your capital to survive. Unknown are the scope and length of the current era. However, given the background, it is likely that the trend will last for some time. There will be multiple chances over the coming weeks to sell the rise and rebuy lower. After that, the decline will likely continue or there will be a long flat. If someone tells you there will be a new bull market but doesn't know how or why we got here, don't believe them. Any powerful move up will inevitably be met with a countermove below. You'll now start to wonder why you didn't take advantage of the opportunity to make a profit. Don't be frightened to simply progress upward gently. Protect your capital to survive. Unknown are the scope and length of the current era. However, given the background, it is likely that the trend will last for some time. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!

Education

by Crypto4light

The Brutal Reality Of Trading Most of us want to succeed and we want it fast, this is just our nature. We live in the age of Amazon next day deliveries and content binges across social media, Netflix, etc. However, trading is about being able to follow a systematic plan consistently over time. This consistent execution then translates to probabilities playing out in our favour over a fair amount of trades. Due to most traders wanting to succeed and do it quickly, combined with all the information and opinions flying around online, they begin forming unrealistic expectations about what they need to get to achieve what they want. I know because I wasted over 2 years cycling through over 100 strategies, backtesting them all, trading them all and STILL losing money. In practice traders think they need extremely complicated systems to develop an edge, this often leads to more room for human error. What's a fantastic catalyst for increasing the frequency of human error? Emotional stress. What are the markets great at? Generating extreme amounts of emotional stress! The result? A lot of mistakes and a lot of losses. To compound this, we are always monitoring our progress and comparing it to what we want to achieve. This is normal and healthy. However what's unhealthy for traders is how they measure their progress. For most, trading progress is measured by profitability. However, profitability has so many components within it that if multiple elements are faulty, judging yourself on whether you are "profitable" or not is completely pointless. For example, if you struggle with FOMO entries, not holding your trades to target and extending your stop loss, then just because you fix one of these, doesn't mean your results will be profitable. Your P/L could improve, get worse or stay the same. However if you conclude that you haven't made progress, you'll disregard the changes you made to fix that problem and you'll repeat this cycle over and over again until you look back months later, stuck on the same issues, hopping around from method to method. I don't want to drag on, so let me just share an exercise I think is extremely important for traders to implement: Make or find a very basic plan. Sometimes even finding a plan that barely works or even doesn't have an edge is effective. Follow those rules for 1 whole month without breaking a single rule, forget the outcome. This simple 2 step plan most will say they don't have the time for, but will waste years going around in circles making no progress. When I did this about 4 years ago, everything changed. I could go and slowly improve my strategy because my foundations were strong, I was focused entirely on my processes (backtesting, journalling, self review, ATA), not the outcome. I really hope this helps you because it's always the ones who see things like this out that achieve results the fastest, your rush to "success" will blind you to it and keep you chasing the holy grail which doesn't exist. Let me know if you have any questions !

Education

How to get "lucky" in day trading Hey Traders! In todays morning video we go over how you can become more lucky in trading by following 3 basic tips! We hope you enjoy the video, later today we will release a longer video explaining how we use the VWAP and Anchored VWAP indicators here on trading view to spot excellent support/resistance levels and trade with momentum or ranges! Happy trading to everyone!

Education

05:53

Shocking Truths about Trading no one talks about EP1.After 5 years of self-educating myself in the art of trading while undergoing brutal consistent losses, these are the truths that set me on the path of surprising consistency after internalizing them.....I hope it will for you guys and give more inspiration to the already consistent ones. Shocking Truths no one talks about in trading: 1. You may have the best strategy, signal provider or learned everything about trading, but what counts is what happens to that knowledge 5 seconds before pressing the buy/sell button. 2. What is Mathematically optimal is Psychologically impossible. If you have a strategy that gets wins of 25R but has like 12 losses in a row, DUMP IT. Mathematically, you will make money at the end, Psychologically you will quit before you take trade 13. 3. You start winning in trading when you believe you can lose (Trading Paradox). Consistently profitable traders have one thing in common: they place their next trade like it was already a loser. 4. Extremely good analysts are most often bad traders....you can be right about the direction but fail in the critically important aspect of Entry timing and still lose the trade. 5. IT IS THE SIMPLE THINGS THAT WORK!. Most people will tell you to look for complex strategies that look for "Random walk algorithmic discrepancies that rhyme with Chaos theories....and all that blah..." But I have been on that path and I hate to break it to you that a guy/girl using only support and resistance and simple moving average crossovers with a verified and bactested edge and discipline will most likely be more profitable. 5. THE MORE OBVIOUS A TRADE IS THE GREATER THE CHANCES YOU LOSE IT. Most people think that if a trade has soooo many confluences it is more likely to work....well that might be true to an extent after which it is a blatant fallacy. From historical data and my own personal LIVE trading results, the probability of a trade working out reduces DRASTICALLY when the number of confluences crosses 5. I theorize that this happens because market makers will see all the orders placed at that point is soo much(cause everyone will see the opportunity with their different approaches) and take them all out. 6. No one can sell a money printer, cause it has no price. If someone offers to sell you a robot or STRATEGY that triples your money every month, laugh and pass, if you don't and end up buying that....you deserved to be scammed. Think about it the person can just take $100 and apply his/her magic to it and print out Elon Musk's networth in lower than 3 years using compounding......and he/she will sell you that for $2000?, you must be kidding me!. 7. Your consistency has nothing to do with your strategy but your mind. I can bet you my life's earnings, that there is someone out there, using your exact entry and exit rules but is profitable and you are not. A better strategy brings in more profit, but any random edge with the right mindset and risk management MUST be profitable. 8. Almost everything in life is a pyramid-scheme, & survival of the fittest and trading is not left out. No matter how much we desire to the contrary, it is IMPERATIVE THAT TRADING HAS MORE LOSERS THAN WINNERS. The winners in trading have to be relatively fewer cause they win a lot and hence they need soo many losers to give them that money. There is no bank that hands at money to you when you win, your job as a trader is to outsmart some other fellow and TAKE his/her money and once you come to terms that every dollar lost by you trading, is a dollar gained by someone else in this zero-sum game, you will realize only YOU has got your own back. 9. You can NEVER completely eliminate emotions in trading but you can set rules that allow you trade only when you are at your optimal state, and gives you a day or two vacation when you are down. 10. Reading this article will definitely NOT HELP YOU, it is remembering it the moment before you place your next trade that will. Pls LIKE and Subscribe, I want to know what you think about this article and which point you agree with the most or disagree with. Tell me whether it helped you in any way and if we get 50 likes and 20 comments I will consider making the next episode.

Education

Don't worry there will be many more opportunities!sometimes you dont get what you give or what you are expecting! ive been looking this chart for few weeks now and i was expecting a nice trade from this, i did what i had to i read the chart understood it, and made a decision to look over the price and the structure that i drew. and after these days of analysis and studying the idea i had for this market didn't do what i expected. that also happens during our course of life, you want to see the things as you wish but they dont go that way. THATS NORMAL! JUST KEEP ON LEARNING FROM EVERY SITUATION, EVERY UPs & DOWNs, DON'T BE FOOLED BY THE CONCEPT OF RESULTs AND WININGs JUST GO WITH THE FLOW. LOVE THE PROCESS. and you'll sure find satisfaction.

Education

Don't let the dopamine get you 🥴Do you feel excited? 😅 This is why. It's all down to the chemical reaction in your brain. Dopamine. Dopamine is a chemical in the brain that makes us feel good. Should you be feeling excited when trading?🤔 No.🙈 As this isn't gambling and shouldn't give you the same dopamine rushes like a gambling win does. What's starts as initial excitement will move to fear, anxiety, stress and excitement again. 🤷🏻‍♂️ You become irrational and unable to stick to your plan.🤯 Entering trades through boredom for the 'rush' and closing profitable trades too early because of fear of the profit disappearing - all because you risked too much for that 'buzz'. 'So what can I do about it?' I hear you shout loudly....📢 Well this depends on if you really want to change or not, the downside is you'll think you will make less money .... Think about it - you have a £5000 account right? Option 1 - you trade 15 pairs at 0.5 lot size and your account is up and down like a yo yo - but it's exciting right? Option 2 - you trade 3 pairs at 0.01 - your account movement is marginal. Option 2 is less exciting for sure, but if you want excitement go and jump out of plane. Option 1 will eventually lead to a blown account. Option 2 will give you sustainable consistent trading - you'll let your winners run and you'll lose less on the losing trades. A win win. Only when you get this bit right will you start to see positive change. Emotional control is key Be present doing other things without checking your phone to see how trades are going. Exercise patience by sticking to your plan and letting your trades run instead of closing them early. The only thing you can control in trading is YOU Just don't end up letting the dopamine take control! Have a good weekend everyone and thanks for looking Darren👍

Education

by pow_removetheguesswork

The reason for the stagnation in trading Many times people trying to reach a new level face an invisible obstacle in their business. At that moment, life turned into a routine. It seems to us that there are no changes in life and there is no way forward. This is quite unpleasant. In those periods when it seems to us that our development has stopped, we become unhappy, because, after all, progress is the key to happiness. There are three reasons why we feel like we're marking time, and sometimes it's a combination of these three reasons: 1. Your physical condition Poor physical condition can increase negative emotions. Sports activities cause positive emotions. When you are physically active, you change your mental state and destroy your negative model. Thus, maintaining a good physical condition will cause positive emotions, which is one of the key ways to get out of stagnation. Develop a positive state of mind and get rid of all the negative by changing your physical condition. 2. Time limit One of the reasons we think we are stuck in one place is excessive attention to the past or the future. But constant thoughts about the future or the past will not change anything. As you know, the past cannot be changed, and the future is unknown, so there is no point in worrying about them. We have the right to change only the present, that's what we need to focus on. Stop flying in the clouds of the future, stop suffering because of the past, get busy with the present. 3. Sitting on the plateau Why do some people make breakthroughs that take them to the next level, while others can't? What is the difference between a master and an amateur, a creator and a speaker? The first dig deep to find an answer that will help them overcome stagnation, they do not stop fighting and searching and eventually achieve goals, reaching a new level. 5 signs that bring you closer to a breakthrough 1. Routine. You're tired of everything. You are tired of your financial problems, tired of your boring job, tired of carrying an extra 20 kilograms. Everything annoys you and you want to change something. 2. Unsatisfied. Whatever you do, it doesn't work for you anymore. Maybe it is unprofitable or uninteresting. Or maybe you are tired of the lack of energy, which, in your opinion, is necessary to achieve the desired result. Perhaps your current method has been successful in the past, but it is not suitable for your current conditions. 3. Border. This is the moment when change is needed. If you are on the verge of bankruptcy or, for example, if you have serious health problems. This is the point of no return, you are on the edge of the abyss and all you have left is to take a step, make an effort to become better and reach a new level. 4. Insight. You are illuminated by an idea or a deep understanding of something that opens up a new world for you. You begin to see the world in a new way, you have found a goal that can help you get out, your eyes are burning. 5. Open the door. The door opened... You enter it. At this stage, you will feel a surge of strength, realize that everything is not in vain, and you will want to move forward with great enthusiasm. Do not give up, do not stop, study. Good luck! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Education

FrogAlgo: 5 Simple Ways to Control Your Emotions in Trading The markets are emotional and so are the people who trade them. But that doesn’t mean you have to let it affect you. Instead, learn how to control your emotions and make more money. Here are five simple ways you can control your emotions in trading and make more money. Don’t let your emotions dictate your trading It’s important to remember that your emotions are a part of who you are as a person. But they’re not part of who you are as a trader. Nothing in trading requires you to let your emotions dictate your trades. The best traders are in a state of flow — a state of complete absorption where nothing else exists except the task at hand. In a state of flow, the only thing that matters is what you’re doing. It doesn’t matter if you’re in a down market or a strong bull market — if you’re in flow, you can’t be affected by the outside world. You can’t let your emotions get the best of you and make bad decisions because you’re on autopilot. Set a threshold for when you’ll trade When you get started in trading, you’re going to have a period of time where you’re emotionally charged and feel like you have to trade every day. You might have a specific time period where you’ll only feel like trading when the sun is out and the markets are up. If that’s the case, then trade when you’re in that “charged” time period — but set a threshold for just how “charged” you’ll get. Let’s say you only feel “charged” from 9 am to 12 pm — set that as your trading time window. You’ll still feel “charged” enough to trade, but not so “charged” that you make mistakes. Train yourself to be aware of your emotions The best traders are in a state of flow — a state of complete absorption where nothing else exists except the task at hand. In a state of flow, the only thing that matters is what you’re doing. It doesn’t matter if you’re in a down market or a strong bull market — if you’re in flow, you can’t be affected by the outside world. You can’t let your emotions get the best of you and make bad decisions because you’re on autopilot. The best traders are aware of their emotions. If you don’t know what you’re feeling, you can’t let your emotions get the best of you and make bad decisions. The more you know about your emotions, the more in control you’ll be and the more money you’ll make in the markets. Know the difference between a trade and a position In trading, every position is a trade. It’s just a matter of how much money you’re putting at risk. The most important distinction is between a position and a trade. If a trade occurs when you risk a set amount, a position just happens when you risk an amount that’s less than what you’re long or short. What’s important is that you keep track of both your position and your trade. You might think a trade is only 1 or 2 shares. But if you end up adding to that position, then you actually have a position that’s thousands of shares. Your position is what you have, but your trade is how much you risked. Find a good trading mentor The best way to learn new skills is to have an expert show you how to do them. Trading is a lot like golf — you’re better off with an experienced teacher than trying to learn from reading books. A good mentor is someone who will help you build your skills as a trader. They won’t just tell you what to do — they’ll show you how to do it. They’ll help you develop the skills of patience, discipline, and the ability to be in the market even when the market is not in your favour. A good mentor will also be someone who shares your same passions and interests. A good mentor is someone who shares the same passions as you — someone who likes the same things you like. Being in the same place in life helps — but don’t let it stop you because it’s the best way to learn. Conclusion Emotions play a big part in trading, but they don’t need to dictate your trading. The best traders are aware of their emotions and know the difference between a trade and a position. They also find a good mentor and use them as an expert to help them build their skills. When you control your emotions, you’ll make better decisions in the markets and increase your profits. And the best part is that once you have the skills, you can trade anywhere in the world.

Education

by A1TradingHub

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