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Psychology

Potential Trade Idea & Weekly Bias DiscussedThis week's outlook is heavily bearish, Markets are overbought, retail is investing in stocks now more than ever, and indices breaking ATH...A perfect time for the big players to profit off human fear, a little crash of 2% in currencies, a little over 4% in gold, and 3% in Indices, makes it perfect for human emotions to engage in and let it take over the psychology of retail investors. The market's goal is terror and evil, it's always against you no matter what, and it uses all types of weapons in its reach to stop you from profiting, by attacking your weakest point of all, your emotional side...At the same time, rationality can't be effective, as sometimes for logical reasons one must step aside with a loss. Therefore, you must acknowledge the incentives within these markets and manage your risk accordingly. I like to treat markets as an alive individual with their character and personalities, where have their traits and behaviors, and to predict individual actions you must study their incentives, and here's where I gain an edge... Studying the market's main incentives goes back to breaking it into pieces, to understand the incentives of what makes the markets move, the main players in this game of organized chaos. Markets in its current phase are showing weakness, a sign of retracement, a psychological thriller for those who bought the top and are expecting the markets to continue higher. Though the high amounts of volume buying these instruments make it a perfect opportunity for big money to sell off their funds without leaving a trace on the market's charts, moves are so subtle only a select few can recognize their traces. I expect this Monday to be bullish, and the rest of the week bearish. Markets will face a sell-off that will shake retail. Welcome to the greatest show on earth, where when the lion is hungry, he eats.
Short
by mahdikheirddine
2
A rapid BTC and SOL uptrend worries me for my behaviour.For me as a swing trader, it's the first time I am dealing with uncomfortable emotions while the uptrend is remarkable going on and on... My thoughts are dealing with a mix of unbelief and trust issues. For all those traders with similar awareness, I put a list together of psychologic behaviour I have to deal with right now (12th of March 2024). I have decided to wait for selling due to all these in the list below. 1. FOMO (Fear of Missing Out) : When prices are rising quickly, there's a tendency to fear missing out on potential profits, leading to impulsive buying decisions. 2. Overconfidence : Success in a rising market can lead to overconfidence, causing traders to take on excessive risk or neglect proper risk management strategies. 3. Herd Mentality : Traders may feel pressured to follow the crowd, leading to crowded trades and increased volatility. 4. Confirmation Bias : Traders might seek out information that confirms their bullish bias, ignoring or downplaying negative indicators or news. 5. Greedy Behavior : Greed can cloud judgment, causing traders to hold onto positions for too long, even when signs of a reversal or correction are present. 6. Panic Selling : Despite the overall uptrend, sudden dips or corrections can trigger panic selling among traders, exacerbating market volatility. Being aware of these psychological tendencies can help you stay disciplined, adhere to your trading strategy, and avoid making emotionally driven decisions.
by Aadya2
Yemi_Fx1 | BEARISH SETUP ON AUDJPY Maintaining a sell bias on AUDJPY based on the presence of a well-defined sell structure. On the 1-hour timeframe (1HTF) shows the bearish bias is further supported by a potential continuation pattern in the form of an ascending wedge, with price currently testing resistance. Be aware that today's high-impact Non-Farm Payroll (NFP) data release could cause price to break out of the ascending wedge resistance before moving in it main direction. I anticipate a potential third touch of the ascending wedge's resistance. If price rejects this level, we can look for a confirmation shorting signal(A flag )on a lower timeframe (e.g., 15-minute chart) to enter the trade. If you found this helpful please support your fellow trader with a like .
Short
by Yemi_Fx1
Mindfulness : The Zen approach to Trading SuccessMindfulness is a practice that involves being fully present and engaged in the moment, aware of your thoughts and feelings without judgment. It originates from ancient Buddhist meditation practices but has been adopted widely in various forms across the world for its mental health benefits. In this post, we'll dive a bit deeper into what it is, where it comes from, and how it can help you when trading. Some practical tips and where to start are included as well, so keep on reading till the end. ❔ What is mindfulness? Mindfulness is like having a special tool that helps you pay close attention to what's happening right now, in this very moment, without wishing it was different. It's about noticing the little things - how your breath feels going in and out, the way your body feels sitting or standing, or even the sounds around you. It's all about being fully present and aware, like watching a movie and noticing every detail on the screen without getting distracted by thoughts of what you will do later. When you practice mindfulness, you're training your brain to focus on the present moment. It's like when you use a magnifying glass to look at something closely; you see a lot more detail than you would if you were glancing at it. Mindfulness works the same way, but instead of looking at something outside, you're paying close attention to your thoughts, feelings, and sensations. By practicing mindfulness, you learn to respond to situations with more calmness and less knee-jerk reactions. Instead of getting immediately upset or stressed by something, you give yourself a moment to decide how you want to react. It's like pressing a "pause" button, giving you the chance to choose your response. In simple terms, mindfulness changes your mindset by helping you live more in the "now," handle your emotions better and be kinder to yourself. It's like having a secret garden inside your mind where you can go to find peace, no matter what's happening around you. ❔ Where does it come from? Mindfulness, originating over 2,500 years ago within Buddhist meditation practices, transcends its ancient spiritual roots to address a universal human need: the desire to be fully present and aware in our lives. This practice, once cultivated in the serene landscapes of ancient India, has evolved beyond its religious confines, finding a place in various Eastern traditions such as Taoism and Zen Buddhism . Each culture enriched the concept, emphasizing awareness, intention, and compassion, and highlighting mindfulness's universal appeal and applicability. The late 20th century witnessed a significant cultural bridge as mindfulness made its way into the Western world, largely thanks to pioneers like Jon Kabat-Zinn . His approach through the Mindfulness-Based Stress Reduction (MBSR) program at the University of Massachusetts Medical School showcased mindfulness as a powerful tool for psychological well-being, stress reduction, and enhanced quality of life, irrespective of its religious origins. Today, mindfulness is embraced across diverse fields for its profound benefits, embodying a timeless practice that enhances the human experience by promoting a deeper connection with the present moment. ❔ Why Mindfulness for Trading? Why is mindfulness important for trading? Think of trading like a big room full of buttons. Each button can make you feel something different – happy when you win, sad or scared when you lose. Mindfulness is like having a special guide in this room. This guide helps you walk through without hitting every button by accident. It teaches you to notice the buttons (your feelings) without having to press them all. This way, you can feel happy about the good things and not feel too bad about the not-so-good things, keeping your mind steady no matter what happens. Mindfulness helps you stay calm and clear-headed. When you're trading, it's easy to get caught up in the excitement or worry a lot. Mindfulness is like putting on a pair of glasses that helps you see everything more clearly. You learn to pay attention to what's happening right now, instead of getting lost in thoughts about what might happen next or what happened before. This can help you make better decisions because you're thinking clearly and not just reacting to your feelings. It's like having a secret weapon that keeps you feeling good and thinking smart, no matter how wild the trading world gets. ❔ How does it help in trading? Emotional Regulation : Trading can be an emotionally charged activity, with the potential for high stress, anxiety, and strong emotional reactions to wins and losses. Mindfulness helps traders recognize their emotional states without becoming overwhelmed by them, promoting a balanced approach to decision-making. Improved Focus and Concentration : Mindfulness enhances the ability to concentrate on the task at hand. For traders, this means being able to focus on analyzing markets, monitoring trades, and making decisions without being distracted by irrelevant information or internal chatter. Reducing Impulsive Behavior : By fostering an increased awareness of thoughts and feelings, mindfulness can help traders avoid impulsive decisions driven by short-term emotions such as fear, greed, or frustration. This can lead to more disciplined and considered trading strategies. Stress Management : The practice of mindfulness has been shown to reduce stress levels. Given that trading can be a high-stress occupation, particularly during volatile market conditions, mindfulness can help traders manage stress, maintain clarity, and avoid burnout. Enhancing Decision Making : Mindfulness promotes a state of calm and clarity, allowing traders to evaluate situations more objectively. This can improve decision-making by reducing the likelihood of decisions being clouded by emotions or cognitive biases. Learning from Mistakes : Mindfulness encourages an attitude of non-judgmental observation. This perspective can help traders view losses or mistakes as learning opportunities rather than personal failures, cultivating a growth mindset that is crucial for long-term success. Incorporating Mindfulness into Your Trading Routine Here are a few things you can do to build in mindfulness routines in your trading day. 🧘🏽‍♀️Daily Meditation : Start with just 5 minutes a day. There's a plethora of apps like Headspace or Calm to guide you. 🤯Setting Intentions : Each morning, remind yourself of your trading goals and how you want to approach the day mindfully. 😤Mindful Breathing : Feeling overwhelmed? Pause and take ten deep breaths to reset your mental state. ⏸️Mindful Pauses : Before you click that trade button, take a moment to ensure this decision feels right in the gut. ✍🏽Reflective Journaling : End your day by jotting down your emotional journey alongside your trades. You might be surprised by the patterns you find. 📚 Get started: Interested in expanding your mindfulness repertoire? Here are some resources to get you started: Jon Kabat-Zinn's " Wherever You Go, There You Are " for mindfulness 101. ISBN 978-0-7868-8070-6 The Headspace Guide to Meditation and Mindfulness by Andy Puddicombe for those looking to integrate mindfulness into everyday life. ISBN-10 1250104904 10% Happier for meditation skeptics who want practical insights. ISBN-10 0062265423 ✅ Takeaway Who knew that the path to trading success could involve a bit of Zen? By embracing mindfulness, you're not just becoming a better trader; you're investing in your overall well-being. So, here's to trading mindfully and finding that inner peace amidst the market's chaos. Remember, in the world of trading, the best investment you can make is in yourself. 📣 Join the Conversation! Now, it's your turn! Have you tried integrating mindfulness into your trading routine? Notice any shifts in your decision-making or emotional resilience? Or maybe you've got some mindfulness tips and tricks of your own to share. Drop your stories, insights, or even your skepticism in the comments below. Let's build a community of mindful traders, learning and growing together. Can't wait to hear about your experience!
COINBASE:BTCUSDEducation
by Nico.Muselle
50
Patience Pays: Awaiting Market Structure for Next BTC HighIn today's Bitcoin market analysis, we spotlight the virtue of patience as we anticipate the market structure to align for the next significant high. Utilizing the Gann and MTOPS trading strategies, we identify potential zones of strength and resistance, emphasizing the importance of waiting for clear signals before making our moves. This disciplined approach not only mitigates risk but also maximizes the potential for rewarding trades. As we navigate these periods of consolidation, remember that strategic patience often leads to the most lucrative outcomes. Stay ahead of the curve and join the waiting list for the MTOPS AI, where the MTOPS Strategy is harnessed to trade the market efficiently. Link to Stream Recording: www.tradingview.com
BINANCE:BTCUSD.P
by Blayno_MTOPS
Why does investor behaviours never change?The consistency of investor behaviors stems from the fundamental aspects of human psychology, which remain largely unchanged over time. Achieving proficiency in investing requires not just a surface-level understanding of psychology, but a deep and nuanced comprehension that can only be acquired through years of observation and study. And you need work with your own mindset. Market dynamics are driven by the actions of its participants, who are essentially human beings. Whether in the short term or the long term, market movements are a reflection of human behavior. This doesn't diminish the importance of analytical skills in investing; rather, it underscores the crucial role that understanding human behavior plays. Even someone with exceptional analytical abilities may struggle to succeed in investing without a keen insight into human psychology. Because human behavior tends to remain consistent over time, investor behavior also remains consistent. As a result, markets will continue to exhibit familiar patterns and tendencies as long as they are driven by human participation. Throughout 2022 - 2023, a common narrative has permeated discussions: * We will see 2008 financial crisis. * Interest rates are poised to increase * The belief is that the Federal Reserve will no longer intervene to rescue the markets. * Btc its just a cat bounce, sp500 should go down to 2800 * There is no new alt season * AI trend its a Dot com bubble And many other. people love to find some LOGIC or patterns, because its will be much easier play the games in "experts" Yet, there's a fundamental flaw in this narrative: human behavior. We have a tendency to forget lessons learned and revert to our previous habits. As global crises begin to recede, history shows that we often resume our previous patterns. In other words, we revert to our old ways: buying, buying, and buying once again. Human nature and the market are constants that remain unchanged over time. Understanding our typical behaviors, whether good or bad, is essential. To excel as an investor, one must delve beyond just grasping the fundamentals or technicalities of investing; it's crucial to delve into human behavior. This entails studying not only market behavior but also human behavior in general. By releasing expectations of instant wealth in the market, we can appreciate its intricacies. The market serves as a remarkable platform where one can glean insights into money, business, psychology, history, and, most significantly, oneself. It's a rigorous system that penalizes errors but also bestows rewards for wise decisions. At the end just reduce your expectations, and just simply trade assets not your wishes. 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"!
BITFINEX:BTCUSDEducation
by Crypto4light
📖 Market Wizards: ResumePublished by Jack D. Schwager in 1989, "Market Wizards" marks the beginning of an indispensable series for traders and investors alike. Through engaging interviews, Schwager brings to light the experiences of titans such as Bruce Kovner, Richard Dennis, Paul Tudor Jones, Michael Steinhardt, Ed Seykota, Marty Schwartz, and Tom Baldwin, making learning from the best an enjoyable journey. To keep things short, we highlighted the most important parts of the interviews and came back with these key takeaways: There is no holy grail to trading success. The methodologies employed by the "market wizards " cover the entire spectrum from purely technical to purely fundamental and everything in between. The time they typically hold a trade ranges from minutes to years. Although the styles of the traders are very different, many common denominators were evident: 1. All those interviewed had a driving desire to become successful traders - in many cases, overcoming significant obstacles to reach their goal. 2. All reflected confidence that they could continue to win over the long run. Almost invariably, they considered their trading as the best and safest investment for their money. 3. Each trader had found a methodology that worked for him and remained true to that approach. Significantly, discipline was the word most frequently mentioned. 4. The top traders take their trading very seriously; most devote a substantial amount of their waking hours to market analysis and trading strategy. 5. Rigid risk control is one of the key elements in the trading strategy of virtually all those interviewed. 6. In a variety of ways, many of the traders stressed the importance of having the patience to wait for the right trading opportunity to present itself. 7. The importance of acting independently of the crowd was a frequently emphasized point. 8. All the top traders understand that losing is part of the game. 9. They all love what they are doing. Below we've gathered a list of opinions from the traders interviewed in the book: 1. Implementation is as IMPORTANT as direction: Getting the direction of the trade right is only part of a successful trade; putting the trade in the right way is critical. 2. You don’t get paid for being right. Many traders fail not so much because of the trades they make when they are wrong, but rather because of the trades they don’t make when they are right. 3. Sometimes it is what you don’t do that counts. “Music is the space between the notes.” – Claude Debussy. Analogously, the space between investments – the times one is out of the market – can be critical to successful investing. 4. Risk Control Many market wizards interviewed in this book consider risk control even more important than the methodology. 5. Trade size can be more important than the entry point. Traders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price because if the size is too large, a trader will be more likely to exit a good trade on a meaningless adverse price move. Don’t let your greed influence position sizing beyond your comfort level. 6. Don’t try to be 100 percent right. The market is moving against you and you are well aware of the dangers of an unconstrained loss, but you also still believe in your position and you are worried about throwing in the towel before the market turns. You are frozen in indecision. 7. Flexibility is a critical trait. Flexibility is an essential quality to successful trading. It is important not to get attached to an idea and to always be willing to get out of a trade if the price action is inconsistent with your trade hypothesis. 8. The best remedy for a losing streak. When you are in a losing streak, you can’t turn the situation around by trying harder. When trading is going badly, often the best solution is to stop trading for a while. 9. When everything is going great, watch out! The worst drawdowns often come suddenly right on the heels of periods when just about everything seems to be working as well as if it had been optimistically scripted. In this case, a trader will be most susceptible to being lulled into complacency. 10. The market doesn’t care where you entered a trade. Don’t make trading decisions based on where you bought (or sold) a stock or futures contract. The market doesn’t care where you entered your position. A common error traders make when they realize they are in a bad trade is to commit to getting out, but only after the market returns to their entry level – the proverbial “I will get out when I am even”. The linkage of liquidation to entry level is one of the major causes of turning small losses into large ones. In conclusion , "The Market Wizards" by Jack D. Schwager serves as an illuminating guide into the minds and strategies of some of the most successful traders of our time. Through insightful interviews and analysis, Schwager provides invaluable lessons on trading psychology, risk management, and market tactics. However, this is just the beginning of the journey into the world of market mastery. To delve even deeper and expand your understanding, we highly encourage traders to explore the following volumes penned by Schwager: "The New Market Wizards" (1992), "Stock Market Wizards" (2001), "Hedge Fund Market Wizards" (2012), and "The Little Book of Market Wizards" (2014) . These sequels offer a rich tapestry of new interviews, anecdotes, and wisdom from a diverse array of trading luminaries, further enriching your knowledge and empowering your trading endeavors. Whether you're a novice or a seasoned trader, these volumes are indispensable companions on your quest for trading success. Dive in, absorb the wisdom, and let it guide you on your path to becoming a true market wizard.
OANDA:XAUUSDEducation
by financialflagship
Market Psychology: Why the Wall St. Cheat Sheet Still WorksI decided to apply the Wall Street Cheat Sheet to a chart of the S&P 500 during the Dotcom crash. It is impressive that it still works and holds so many lessons. The question you should ask yourself is, where are we now? Let me know your thoughts in the comments below. ------------------------------------------------------------- Understanding the implications of the Wall Street Cheat Sheet can be crucial for investors and traders looking to navigate the markets more effectively. It serves as a reminder of the recurring nature of market sentiment, highlighting that investor psychology tends to repeat itself in a cyclical pattern. Recognizing these patterns can help traders anticipate market movements and improve their decision-making processes. Although it's not a fail-proof guide to predicting market trends, the Wall Street Cheat Sheet is a tool that, when combined with other strategies and risk assessments, can provide insightful context to market indicators and behavior. The Wall Street Cheat Sheet encapsulates the variety of emotions investors go through during market cycles. Recognizing emotional cycles can inform risk assessment and trading strategies. The Wall Street Cheat Sheet serves as a roadmap for navigating the emotional highs and lows investors face during market cycles. Each phase reflects a collective sentiment that can influence financial markets and, subsequently, the price movement of stocks. Market cycles represent the recurrent fluctuations seen in the financial markets and can be identified through the price movements of stocks. These cycles are driven by a variety of factors such as economic indicators, corporate performance, and investor sentiment. The Wall Street Cheat Sheet encapsulates the typical emotional journey of investors through the different stages of a market cycle. The following phases are included: Hope: A period when optimism starts to grow, and investment decisions are made with the anticipation of future gains. Optimism: The phase where confidence continues to build, often leading to increased investments. Belief: This stage marks a commitment to the bullish trend, with many investors convinced of their strategy. Thrill: Investors experience a high, often accompanied by a sense of triumph. Euphoria: The peak of the cycle, where maximum financial risk is actually present but overlooked due to extreme optimism. Complacency: After reaching peaks, the sense of euphoria shifts to a state of denial once the market begins to turn. Anxiety: As market correction sets in, anxiety starts to replace complacency. Denial: Investors hold onto hope that the market will bounce back quickly, failing to acknowledge changing trends. Fear: Acknowledgment of losses sets in, and panic may ensue. Desperation: A feeling of helplessness might prevail, with investors looking for a way out. Panic: Rapid selling occurs, trying to exit positions to avoid further losses. Capitulation: Investors give up any previous optimism, often selling at a loss. Anger: The reality of financial impact hits, and investors question their decisions. Depression: Coming to terms with the financial hit and reflecting on the decisions made. Disbelief: Skepticism prevails even as the market may begin recovery, with many wary of another downturn.
CBOE:SPXEducation
by liberatedstocktrader
15
Understanding Trading PsychologyMastering the Mindset: A Comprehensive Guide to Trading Psychology Trading in the financial markets is not just about analyses and strategies; it’s equally about mastering one’s mind. The importance of trading psychology is often underestimated, yet it plays a pivotal role in shaping trading decisions and outcomes. This comprehensive guide delves into how to master trading psychology, offering insights and solutions for traders at all levels. Understanding Trading Psychology At its core, trading psychology revolves around understanding the influence of emotional and mental states on trading. Emotions like fear, greed, and overconfidence can cloud judgment, leading to impulsive decisions and potentially detrimental outcomes. 1. Greed: The Double-Edged Sword 🔍What is it? Greed in trading is the excessive desire for more profit, often leading to risky decisions. Imagine a child in a candy store. Given the chance, they might try to grab as much candy as possible, even if it’s too much to eat. In trading, greed works similarly. It’s the trader’s urge to make more money, ignoring the risks. 📖In 2000, during the dot-com bubble, many investors kept buying overvalued tech stocks, driven by greed and the hope that prices would keep soaring. When the bubble burst, many faced substantial losses. 2. Fear: The Paralyzing Emotion 🔍What is it? Fear in trading is the apprehension of loss, which can prevent traders from taking necessary risks. 🤔Think of a person so afraid of water they never learn to swim. In trading, fear can stop traders from making decisions that could be beneficial, worried they might lose. 📖During the 2008 financial crisis, many traders and investors sold their stocks in a panic due to fear, resulting in significant losses. Those who overcame their fear and held onto or bought quality stocks at lower prices eventually saw substantial gains as markets recovered. 3. Overtrading: The Trap of Too Much 🔍What is it? Overtrading is trading too frequently or excessively, often driven by emotion rather than strategy. 🧐It’s like eating too much junk food just because it’s there. In trading, overtrading happens when traders make more trades than necessary, often due to excitement or the urge to recover losses quickly. 🤑A day trader, excited by initial successes, starts making numerous trades daily without proper analysis. This leads to a series of small losses that accumulate over time, eroding their capital. 🧑‍💻 How to Master Trading Psychology Mastering trading psychology is a crucial step in becoming a successful trader. It’s about understanding and managing your emotions, biases, and behaviours to make sound decisions and avoid costly mistakes. Here are some key steps to help you achieve that: ⭐ Emotional Awareness and Regulation: 1️⃣ Identify Emotional Triggers: Recognize what drives impulsive trading decisions, such as the fear of missing out (FOMO) or the urge to engage in revenge trading after a loss. 2️⃣ Understand Cognitive Biases: Be aware of mental shortcuts that can lead to judgment errors, like overconfidence or being influenced too heavily by recent trades. 3️⃣ Separate Emotions from Trading: Focus on the mechanics of your trading strategy rather than the emotional highs and lows associated with the outcomes of individual trades. 👨‍💻 Developing Disciplined Trading Habits: 1️⃣ Implement a Robust Trading Plan: Clearly define your strategies for entry, exit, and risk management. Adherence to this plan should be paramount, irrespective of current market trends or emotional states. 2️⃣ Cultivate Patience: Avoid the temptation of chasing immediate profits or overtrading. Wait for the right opportunities that align with your strategy. 3️⃣ Normalize Losses: Understand that losses are an integral part of trading. Analyze them, learn from them, and refine your approach accordingly. 👨‍🔬 Strengthening Mental Resilience: 1️⃣ Engage in Mindfulness Practices: Techniques like meditation can enhance focus and emotional regulation, aiding in stress management and decision-making under pressure. 2️⃣ Maintain a Trading Journal: Documenting your trading journey helps in reflecting on both successes and setbacks, fostering continuous learning and self-improvement. 3️⃣ Leverage Mentorship and Community Support: Connect with seasoned traders for insights and advice. A supportive trading community can be invaluable. 👨‍🏫 Additional Strategies for Optimal Performance: 1️⃣ Regulate Screen Time: Limit exposure to constant market updates and commentary that might encourage emotional trading. 2️⃣ Prioritize Physical and Mental Health: A healthy lifestyle directly contributes to improved focus and decision-making in trading. 3️⃣ Utilize Simulation Tools: Practice with demo accounts to test strategies without financial risk, building confidence and skill in a controlled environment. 4 Tips To Mastering Trading Psychology Improving trading psychology is a crucial component of becoming a proficient trader. The psychological aspect of trading often determines the difference between success and failure. 1️⃣ Back Test Your Trading Strategy: ▪️ Relevance of Historical Testing: Backtesting your strategy against historical data is essential. It helps in understanding how your strategy would have performed in different market conditions. ▪️ Confidence in Strategy: Consistently backtesting and refining your strategy builds confidence, allowing you to trust your system and reduce emotional decision-making. ▪️ Identification of Weaknesses: This process helps identify potential flaws or areas for improvement in your strategy, making it more robust and effective. 2️⃣ Limit to Trade One or Two Currency Pairs: ▪️ Focus and Expertise: Specializing in one or two currency pairs allows you to gain in-depth knowledge and understanding of those markets, including their unique volatilities and correlations. ▪️ Reduced Overwhelm: Trading fewer pairs reduces the cognitive load and decision fatigue, enabling more focused and rational decision-making. ▪️ Consistency in Approach: Specialization fosters a consistent approach, essential for developing and maintaining a stable psychological state. 3️⃣ Trade in a Specific Time: ▪️ Consistent Routine: Trading at specific times can create a routine, which is beneficial for mental preparation and consistency. ▪️ Market Behavior Understanding: Different market sessions have unique characteristics. Trading in a specific window allows you to become familiar with and adapt to these patterns. ▪️ Life Balance: Setting specific trading times helps maintain a healthy balance between trading and personal life, reducing stress and burnout. 4️⃣ Adopt Your Trading Style According to Your Personality: ▪️ Self-Assessment: Understand your personality traits, risk tolerance, and emotional responses. This self-awareness is critical in choosing a trading style that suits you. ▪️ Alignment with Lifestyle: Your trading style should align with your daily routine and commitments. For instance, day trading requires more time and attention compared to swing trading. ▪️ Comfort and Sustainability: Ensure your chosen style feels comfortable. Trading in a style that aligns with your personality and life circumstances is more sustainable and less psychologically taxing.
Education
by Golden_Star1994
2
Predict the clarity of the price, not it's direction☝️The main purpose of my resources is free, actionable education for anyone who wants to learn trading and improve mental and technical trading skills. Learn from hundreds of videos and the real story of a particular trader, with all the mistakes and pain on the way to consistency. I'm always glad to discuss and answer questions. 🙌 ☝️ALL videos here are for sharing my experience purposes only, not financial advice, NOT A SIGNAL. YOUR TRADES ARE YOUR COMPLETE RESPONSIBILITY. Everything here should be treated as a simulated, educational environment.
CAPITALCOM:US100Education
by Yelli_trades
1
Three GOLDEN rules of tradingThree golden rules of trading 1. Learn when to stay out of the markets. This comes from the principle that it’s almost always good to do the contrary of what beginners do. Think for yourself, beginners tend to always search for an entry and predict any kind of price action, even the choppiest one. The truth is, sometimes markets are in condition when it’s just doesn’t make sense to trade and we need to wait. Some questions to ask ourselves: if I would enter 1000 trades like this, do I think it will be a consistent strategy? Do I really see a clear price action development now, or do I want to enter very early to not miss the initial move, which by the way will develop basically out of nowhere? It’s an illusion that we need to predict everything. We need to see clarity, not predict the chop. Realize, that what we often need to do in live markets is DO NOTHING. 2. Learn how to lose Most traders who are still learning, and after a loser, tend to become emotional (fearful, frustrated, angry etc.) and start to act based on emotions, not an actual plan they had. This can be conscious when you understand you’re making a mistakes, but emotional brain took over and you still overtrade, tilt or over risk. Or it could be unconscious when you believe you’re doing the right things. So how to do it? Be aware of your emotional triggers, have a mental journal and step by step learn to RESIST this desire to revenge and place another trade. It’s a long process, but with commitment, it’s possible to achieve. 3. Learn to actually follow the rules It’s a hard one to master. Beginners and even experienced trades tend to deviate from the rules of their strategy without proper testing. You constantly need to keep in mind that placing random trades will give you random results and it’s not sustainable long-term. The best way to do it is to start a rule-following challenge, when you tick day by day if you followed the rules. Most people didn’t follow their trading rules even for 5 days in a row! Just think about it.
OANDA:XAUUSDEducation
by Yelli_trades
1
📖Ultimate guide to feeling a little bit better after a loser.1The video is long, feel free to use speed settings :) Thanks for your interest in the last post about the Major mistakes traders do. Now let's talk about coping emotionally with losers. This is Part 1. 📖We all know this feeling, it feels awful, hopeless like something very valuable has been taken from us, like it destroys our work and plans and it feels BAD. Who am I to speak on this topic. 4 year of trading experience, lost maybe 25 funding challenges over the course of 3 years, got 2 times funded the previous year and lost these funded accounts. Had multiple losers, out of which many just stamped me emotionally. Over time I developed coping skills to better prepare for these -1’s and though I’m far from being really good at it, I’m definitely a bit better than I was some time before. And this is my ultimate guide to feeling a little bit better after a -1. 📖First of all, congrats - if you’re still here, it means you’re interested in the topic and by watching videos like these from me or other traders, and thinking, and trying to become better, you’ll do it eventually. Yes, with time you better find one source of education that really sticks to you, and for me, it’s the method.. but even other videos can build some foundation for your work in this direction. 📖As pointed out in the Mental Game of Trading, Our brain functions in 3 layers, so to say - automated habits, emotional brain, and rational. The thing is, emotions can really block rational thinking. It’s physical and happens in your brain. It literally changes our chemistry. Accept the fact we can't accept losers fully. It will always feel shite, but with time and a good strategy of preparation, it will get better. So this is a Stoic principle applied to trading, be prepared for the worst-case scenario, how? Expect it to happen, and know it’s inevitable and you’ll feel bad. Paradoxically, it allows you to feel a little bit better when it actually happens. 📖Notes and full diary, you want to know all about how you behave in the markets so that you recognize the build-up of emotions and can prepare better for the next inevitable loser, and in case you understand you need to stop because you’ll become too emotional - than you’ll be able to stop. How diaries work is that you know all your triggers, and patterns, in a way that nothing is new to you about how you feel about the market and how you react to certain situations. 📖Appreciate yourself and your work! gratitude - videos, practice, mooji. appreciate the work you did, especially if the loss comes out from a high-quality setup. Many people turn too much attentions to their flaws while forgetting recognizing their powerful sides. What’s your super power - holding to TP, sticking to max trades per day, not overrisking, really going through the checklist. 📖Awareness doesn’t equal control. You can control things only to some extent, but when emotions really kick in, it’s too late. That’s why people very often say: I understand everything, but I can’t stop. Yes, my friend this is how emotional brain works - it leaves with no control over the actions. Awareness doesn’t equal control. If you feel bad, you need to STOP, because in that state losers will feel especially bad. 📖Trade less, a lot less. Good traders and my experience. 📖Record a trade as a -1 in a journal once you started it - Ment’s video.
Education
by Yelli_trades
2
PORTO Basic Trend. Psychology. Volatility or super ticker?Logarithm. The time interval is 3 days. Cryptocurrency as an example. Cryptocurrency with high volatility (low liquidity) for dump/pump strategy. Primary trend — horizontal channel. Secondary trend — descending wedge. Local trend — consolidation after a wedge breakout. Line chart without “market noise” (volatility, squeezes). Immediately want to note that low-liquid cryptocurrencies better still trade on liquid exchanges, otherwise you are already your deposit succumb to a huge risk trading on exchanges with a small total turnover of funds (survivability, competition). Psychology. Volatility and market cycles are your friend, not the ticker name! . Notice what % the price slippage was. This was leaked to the market by the creators of the phantik (just in case), everything can be tracked on the blockchain, any sale at any price is profit. Everyone does it, but with such low liquidity, it's very visible on the chart as well as on the blockchain. It's not something "scary", it's normal behavior of smart people who "don't believe in crypto wrappers", not just someone else's, but even their own. Unlike stupid market participants who determine the value of a particular cryptocurrency, with the help of a particular cryptocurrency ticker (legend of usefulness to the industry). Because of this, there are thousands of phantoms and such market participants make up whole herd sects (they are entertained by selling "nothing" and making real money on the belief in crypto projects). I think every market participant has their own set of phonies in their portfolio. I'm sure a larger percentage of cryptocurrencies are the ones that "youtube and telegram bloggers are talking about" and not through their own independent analysis. But you have to realize that everyone's cryptocurrency combinations are different..... because there are more than 13,000 alts...... Generally, cryptocurrencies rise behind the general trend of the market, and some will occasionally "overtake the market" and then deflate to the general trend..... You can play around with this and "wait for the overtake". It is very important not to get attached to the ticker name (real or not real scam). The desire to get rich with a "special cryptocurrency" clouds the mind....
Education
by SpartaBTC
2
☝️3 Main enemies of a trader and how to deal with them☝️☝️Dear traders, no one here has superpowers, and I'm just a human after all. Please take everything with a grain of salt. I'm sharing my view and one of the possible scenarios of price action, but mostly - my direct experience. When I enter I try to predict as little as possible and actually follow what the market is doing, joining the market and not arguing with it or forcing my will. Have good trading, keep a constant flow of self-awareness, and do your best. 🙌
CAPITALCOM:US100Education
by Yelli_trades
1
Trading BTC : Dunning Kruger Effect 🐸Hi Traders, Investors and Speculators 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫 Have you ever wondered what it takes to be a good and profitable trader? Have you wondered how long it will take before you would have mastered the art f trading? Myself and Dunning Kruger will let you in on a little secret - the journey of pretty much every person that has ever started trading is explained in the chart above. The Dunning-Kruger effect, in psychology, is a cognitive bias whereby people with limited knowledge (in a given intellectual or social domain) greatly overestimate their own knowledge or competence in that domain relative to objective criteria or to the performance of their peers or of people in general. This happens in trading all the time. In fact, we probably all started there if we're being honest . So - What causes the Dunning-Kruger effect? Confidence is so highly prized that many people would rather pretend to be smart or skilled than risk looking inadequate and losing face. Even smart people can be affected by the Dunning-Kruger effect because having intelligence isn’t the same thing as learning and developing a specific skill. Many individuals mistakenly believe that their experience and skills in one particular area are transferable to another. Many people would describe themselves as above average in intelligence, humor, and a variety of skills. They can’t accurately judge their own competence, because they lack metacognition, or the ability to step back and examine oneself objectively. In fact, those who are the least skilled are also the most likely to overestimate their abilities. This also relates to their ability to judge how well they are doing their work, hobbies, etc. The Dunning-Kruger effect results in what’s known as a double curse : Not only do people perform poorly, but they are not self-aware enough to judge themselves accurately—and are thus unlikely to learn and grow. So how can we prevent ourselves from falling into this trap? Here's a few things to keep in mind: To avoid falling prey to the Dunning-Kruger effect, you should honestly and routinely question your knowledge base and the conclusions you draw, rather than blindly accepting them. As David Dunning proposes, people can be their own devil’s advocates, by challenging themselves to probe how they might possibly be wrong. Individuals could also escape the trap by seeking others whose expertise can help cover their own blind spots, such as turning to a colleague or friend for advice or constructive criticism. Continuing to study a specific subject will also bring one’s capacity into a clearer focus. 💭Practice these habits to ultimately escape the double curse: - Continuous learning. This will keep your mindset open to new possibilities, whilst increasing your knowledge over time. - Pay attention to who's talking about what. Is the accountant talking about bodybuilding? - Don't be overconfident. This is self explanatory. I hope you enjoyed this post today! Please give us a thumbs up 👌 _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
Education
by CryptoCheck-
58
GMT/USDT Major trend. Super HYIP and Super Dump. -96,69%Main trend. Time frame 1 week. There is no sense in less. The super dump is about +5000%, similarly the super dump is -96.69% from the peak at the moment. A big wedge is forming, the price is near the reversal zone. The target, which with a high probability will be reached urgently, is shown on the chart in case of a breakthrough of the dynamic resistance (downward trend) of the wedge - descending channel. Marketing program "buy promising" on pampa +2500% Notice where the super marketing PR was launched about “blockchain sneakers” for true ..... At +2500% price values (pamp stick). Then a little consolidation (sales of “promising” ... so that each “hamster” was in the future fabulously rich) then the last shot +88% (so that hamsters were happy about a successful investment) and naturally super depreciation of unnecessary phantom -96% Expensive and cheap. Trading and investment. Psychology. -96.69% Wanting to buy “blockchain sneakers” to make money or something there...?? The former "investors in nothing" will probably get sick from such an offer. Maybe it's a bad idea. Maybe it's time to buy a little, because before the desired and very expensive crypto hype (sales of creators and funds - investors) crypto garbage will be dozens of times more. The main thing is to hold a little and do not forget to get rid of it, so that you can repeat the “investment” again for a longer period of time.... and then already get a super profit. Maybe it's time?) This is what the trend of this cryptocurrency looks like on a line chart. .
Long
by SpartaBTC
10
Happy New Year 2024| Learn Our Methods | Read Description|Happy New Year Everyone 2024: Let's first talk about CHFJPY then we will talk about how you can improve and learn some tips. CHFJPY in last six or seven months price overbought heavily due to JPY poor performance and government's zero intention to interfere in the market. However, many reports suggests that JPY will likely to be rebound in first quarter of 2024 in this case we can see a strong shift in price characteristics. Our first entry indicates, that we should expect price to continue the bearish momentum and drop from current area of the price. However, as we will having NFP in the first week of the month, it is likely to see some unexpected movement in the market. Second entry, is when price fill the gaps in the market and then drop smoothly, we will keep you updated. We want all of you to succeed in the forex or commodities trading. Here how you can improve: Firstly find one or two pairs that suits you: meaning if you focus on every single instruments available to trade in the market, you will never succeed instead focus on one or two pairs and master them, know how and when these pairs move, what factors influence them in the market and trade swing highs and lows. Secondly, use longer time frames to have a better vision, have a longer vision which will help you catch the big moves, yes, it is time consuming but if you are beginner then focus first in this and then along the way you will learn intraday trading. Lastly, learn more about consolidation, accumulation and distribution: before the big reversal, price first will consolidate then accumulate and distribute, you should be looking to enter in phase of accumulation and take every enter when price consolidate which leads to a breakout. If you learn above information in details and practice, your chances of becoming a successful trade increase. There is no overnight success, it is all hard work, if you believe in your self and focus on above things you will one day be proud of yourself. Happy New Year and Trade Safe 2024. We wish all of you all the best. Team Setupsfx_
Education
by Setupsfx_
11
Shiba Inu... Tecnicall and Market psychologyFortunately, Shiba has not yet broken its upward trend line, although the profits it gave us were took , and some did not sell, but there is no need to worry, please don't be just a seller .I see Shiba rising until the weekend,, it was a correction of the work of the whales, not a technical analysis. This is where a question arises in the mind that how 22% growth suddenly became a loss in this way, I really don't know, but this is the conspiracy of the whales who can create such a queue with a lot of money. Please don't be a seller, the whales 🐋 note is fixing this situation so that they're can buy at lower prices and sell at higher prices, I hope you will make a great profit by the end of the week.
by Baharmostofi
1
LTC/USD Main trend. Halving. Cycles The psychology of repetitionMain trend. The graph is logarithmic. The timeframe is 1 month. This idea is relevant both for understanding the secondary trend work and as a training in simple cyclic, logical manipulation processes. Note also the halving of the LTC and the designated time zones between cycles. The primary trend is an uptrend in which a huge butterfly is forming (forming part 2) Secondary trend is a downward channel. Local trend in the secondary trend is a wedge. Coin in the coin market : Litecoin The chart is taken from the Bitfiniex exchange, I used it because of the long price history (the coin has been traded on this exchange for a long time). Of course, the chart is relevant for all exchanges with liquidity. The coin and the pair are liquid, it is acceptable to set large positions. The price behavior is predictable. Ups/Downs are similar. Let's consider them below. Everything is unpredictable only for absolutely predictable people, it always was, is and will be. Same time frame on a line chart (no market noise, pure trend direction) A close-up of this area on the line chart. And this area on the candlestick chart. What matters is the average buy/sell. Approach the market regardless of the size of your deposit as a major market participant. Stop thinking like a "hamster". You don't need to guess, you need to know and be prepared for any outcome, even unlikely scenarios. Psychology of behavior in the market. Expectation. Reality. "Stop-loss resets. Cyclicality of predictable behavior. . Predictable price behavior. "Knockouts" of obedient (acting by the rules) and naughty (acting on emotion) fools are as logical and predictable as anything else everywhere else. Increase your knowledge and experience, and it won't affect you. Remember, theory without practice is nothing. Real trading is very different from theory, you should understand that. That's why all "programmed traders" lose money or their earnings are quite modest. You should not ask anyone where to buy/sell this or that crypto-asset. You should initially know yourself under what conditions you will buy and under what conditions you will sell. Past "stop-losses" before secondary trend reversals . Secondary trend reversal zones and "takeout" before pullbacks in 2019 (+450 average) and 2021 (+900% average). Candlestick chart. 3-day timeframe. Fear peak zones. Line chart. Three-day timeframe. Fear peak zones. (without market noise). As we can see, this "fear peak" on the line chart evaporates, all these local "super resets" have no effect on the trend. It's just the "death of hamsters." The capitulation of human stupidity and greed. You can add predictability and submissiveness to this. The train always leaves without such marketable characters. Such always sell (fear) at the lowest prices, shortly before the trend reverses. It is worth adding that they buy at the highest prices "at the behest" of the pump to get fabulously "rich. This makes the cryptocurrency market super profitable. Such fuel is the basis of profit. "Market fuel flows" lend themselves to cycles. Price management is the psychology and manipulation of people's minds through basic instincts through price values. All of this is real and as old as the world. A foolish person keeps stepping on the same rake, each time telling himself that this is the last time, or this is a special case. This "last case" must be repeated systematically, but in different conditions that you create. Your effectiveness depends on how masterful you are at forming such obsessive thoughts in the mind of such market characters. Fundamentals of Trading. Trading strategy. Capital management. Price forecasting. It is your trading strategy and money management, based on your experience, that is the basis of trading, not guessing the price. But guessing is what most people want. Such people should have no money. As a rule, such people in real life are very poor, do not have their own business, go "to work" (do not want to take responsibility). They think real life doesn't give them many resources, but market speculation will quickly make them fabulously rich. Rather the opposite is true. Total impoverishment regardless of the direction of the trend due to the reinforcement of destructive qualities of a person with financial instruments. The behavior of such people in the market is a projection of what they are like in real life. The behavior of people in financial markets is a projection of what they are in real life. That is, their positive and negative psychological qualities. You can't run away from yourself. A stupid person will be overtaken by his own stupidity, a greedy person by greed, an intolerant person by intolerance, an indecisive person by indecision, an irresponsible person by irresponsibility. Such will be punished by their own destructive qualities. The main thing is that the victim draws conclusions from this and it is an incentive to correct the root cause and basis of the failures, rather than looking for the culprit of his own stupidity in "random events" and other people. You guessed once, second time, third time zeroed in and hit your own self-confidence with your own stupidity and predictability. Consequently, all your previous guesses at the distance equals zero. Trading is a probability game. It is impossible to guess everything because of the many components of pricing. It is possible not to guess, but to know the more and less potentially realizable probabilities because of certain market conditions. No one knows the exact future, there is only an assumed more likely future and the work that leads to it. The basis of profit/loss is what you are in the here and now. Your knowledge and experience are projected onto the chart. The symbiosis of these two parameters makes or loses money in practice. Read these 6 points carefully: 1) The first problem most marketers have is that everyone wants to get a lot of money in the moment and, most importantly, without effort. That's what most people want, so it's not rational or dangerous to satisfy their desires. 2) The second problem is that they can't be "out of the market" until they find a good entry point. "Fear of missing out" does its destructive work. 3) The third problem is, of course, the disease from "childhood," which manifests itself in adulthood. People begin to collect various crypto coins, endowing them with different values according to their beliefs and, above all, their desires. 4) The fourth problem is greed, insatiability combined with inexperience. People don't want to protect their profits, they want more and more and more and more and more, eventually from greed and inexperience they completely (more greedy) or partially (less greedy) nullify themselves. 5) Lack of knowledge and experience. Lack of desire to develop and learn. The less experienced a market participant is, the more confident he is in his competence and "screams text". 6) The sixth most serious problem - laziness. It manifests itself in the fact that few people want to work, everyone wants to have. Under ideas are captured my trading ideas for this trading pair over the past 3 years. Most of them are previously closed trade ideas. There are 3 learning ideas that I have shown on this trading pair (based on publicly published simple trading ideas) .
BITFINEX:LTCUSD
by SpartaBTC
18
TSLA - trade ideaBeen a while since I posted an idea here, it doesnt matter what Ideas I post, it is more important to learn trade psychology and understand your risk reward, you can enter 1,000 trades with bad risk reward and never win. Or you can step into the arena, get beaten up enough times to finally snap out of it and find your way. Why risk it to make the biscuit?! TESLA Support resistance trades, no trader has the golden ticket, find your way! Funded 1.7m with APEX and TakeProfit trader, after blood sweat and tears, it may not be much to many but to me its lifechanging. Lets get it!!!!
NASDAQ:TSLA
by Verum0