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Ninja Talks EP 15: Indicators Vs Naked ( Warning - May cause offense and distress) It's a tale as old as the markets themselves - to use indicators or to not use indicators, that is the question. And to bring the answers you so desire it's none other than yours unruly - me, Ninja Nick! So buckle up because my way is totally biased, based, unapologetic and of course 100% correct forever and always. Now on with the show... I'd like to take this opportunity to apologize to absolutely nobody! The pure price action specialist does whatever the fook he wants. I hope that answers the question of what side I'm on - for those that didn't get the Conor McGregor reference, I'm against trading indicators - with one caveat... * ...I understand that people can make them work, I'm not saying they're useless, but for me in my over 10 years of experience I'm yet to see one that jumps out at me like a supermodel in the street. So with that said, here are some reasons I personally loathe, hate and despise (most) trading indicators: (1) They're BS marketing techniques - case in point, the founder of the MACD said he gave it an acronym name because acronym products create more mystery and sell better. And he's not wrong, but still, BS marketing technique. (2) Too many variables to take into consideration before placing a trade and for someone that practices KISS (Keep it Simple Stupid) I find it's complexity more offensive than putting ketchup on a steak. (3) Your charts look like an A.I rendition of a Pablo Picasso painting, so for that brilliant reason I'm out. (4) The data is lagging - we already get the milk skimmed off out Tea by complex algorithms so why would I outsource my decision making further to baby Terminator? Not on my watch - I won't be back. (5) I love pure price action and I don't know why, I've tried everything over my vast learning curve from financial filings, indicators, depth of market trading, algorithms, you name it I've fumbled with it and I can confidently say without a shadow of a doubt that my genius would be nothing without a pure virgin chart as my canvas. So that's all for this episode, if you liked this then follow and drop a like for the algo (the good kind). And always remember, keep your blades sharp Ninja! Nick

Education

by NinjaTradingServices

Ninja Talks EP 12: Jesus Trading After teaching a bunch of amateur traders over the years, I've come to realise in my not so humble, but highly righteous opinion that their biggest obstacle always seems to come down to their inability to abstain from placing a trade. They give into temptation. But as Jesus says; "Forgive them for they know not what they do." Yes I know Jesus wasn't a trader, but he did turn water into wine and as far as I'm concerned that's the definition of buying low and selling high. Anyway, let's get this back on track - where was I? Ah yes, abstinence. Most fresh spawn traders are so eager to just "be in" the market, they fail to learn this age old mistake. The solution? Simple. And I talk about it often. It's the concept of "letting the trade pass by" - when you do this (truly, no cheating) you'll know (1) If it's a good trade and (2) The exact time to enter. This can be likened to card counting, you observe the dealer and players and count the cards (analyse the markets) and then when the "shoe is rich" (clear entry established) you enter and bet big. Works in cards like it works in the market, but guess what? The majority of sour faced amateurs won't even get to this point because they're more fixated on short term dopamine shots to the vein. If you want to be in control, then take control and stop giving in to temptation, practice abstinence and the world is your oyster. Make sense Ninja? Good, I'll see you in the next episode! Nick

Education

by NinjaTradingServices

Ninja Talks EP 5: Thinking Vs Feeling Something I can't quite get across to traders, especially new traders is intuition. The dumb ones can't comprehend the subject and the smart ones (probably with a programming background) can't understand anything but an IF/THEN scenario. Problem is trading is an amalgamation of patterns, that don't perfectly repeat but often rhyme and if you're looking for binary 2+2 = 4 then you're in for a rude awakening my friend. The sooner you accept this the better. The more experience you have as a chartist the more you'll (1) Be able to analyse and spot these imperfect patterns and (2) TRUST your gut instinct aka your intuition. On intuition; You know when you're sure a trade will win and when a trade will lose, let's not mess around here - you know deep down before you took a trade of it was timed well or wrong. It's about trusting that feeling. The problem is the intrusive thought "Let me see" is what destroys a traders account - take enough of these and you silence your intuition, why? Because it's not needed - if you're constantly listening to any and all intrusive thoughts and more importantly acting on those thoughts then you're psyche will print more of them - it's natural. However, if you listen to the whisper of the gut - quiet it will be at first, but overtime it will become an integral part of your trading. So in closing its really not about Thinking Vs Feeling, but about not ignoring either! Make sense? See you in the next episode Ninja! Nick

Education

by NinjaTradingServices

BASIC TRADING BOOK In this basic trading manual, we will address over 50 questions along with their answers, aiming to familiarize you with the concepts commonly used by traders. Through this material, we will focus on providing a more technical and formal language to enhance understanding and application of these concepts in the field of trading What is a financial market? A financial asset is a security or simply a book entry, whereby the buyer of the security acquires the right to receive future income from the seller. Stocks, currencies, bonds, cryptos, etc. 1) What financial markets exist? Direct operation market. Buyers and sellers must meet directly for the purchase and sale of financial assets. Brokerage market. There are specialized brokers that put buyers and sellers in contact with each other, charging a commission for the service. Dealer market. The dealer buys the asset and sells it to a buyer, i.e. takes positions on his own account. His profit is in the margin he obtains between the purchase price and the sale price (Spread). Blind market (market makers). The market maker publishes the prices at which he is willing to make buying and selling operations. His profit is in the margin he obtains. 2)Who regulates the trading activity? Commodity Futures Trading Commission, better known by its acronym CFTC. It regulates and supervises the options and futures market. 3)What are shares? A share in the financial market is a security issued by a corporation or limited partnership by shares that represents the value of one of the equal fractions into which its capital stock is divided. The shareholder investor expects the company to receive the maximum possible dividends and, from this, to create a generalized demand from the investing public for the paper, which produces an increasing valuation in its share price. 4)What is Forex? The foreign exchange market, also known as Forex, FX or Currency Market, is a global and decentralized market in which currencies are traded. This market was born with the objective of facilitating the flow of money derived from international trade. 5) What are futures? A Future is a transaction agreed at a given maturity (every end of the month - being the last trading day of the month) at a given price. The buyer of a future has the expectation that the quoted value or SPOT, at maturity, will be at least above the agreed future value. The seller of a future has the expectation that the price or SPOT at maturity will be at least below the agreed future value. 6)What are options? Anything publicly traded can have options. Options, like stocks, can be traded every day, and this is what "liquidity" depends on, i.e., if there are no buyers and sellers, there are no options. One option could be: Call = Buy. Symbolically "C". Put = Sale. Symbolically "V". 7) What are cryptocurrencies? A cryptocurrency is a centralized digital financial asset that uses cryptographic encryption to guarantee its ownership and ensure the integrity of transactions, and to control the creation of additional units, i.e. to prevent someone from making copies as we would do, for example, with a photo or a banknote. 8) What is a Japanese candlestick? Candlesticks are a graphical representation of the financial market price in the form of candlesticks. They represent the price action over a set period of time. They are composed of a body and 2 shadows. 9) What is a candlestick chart? In economics, the candlestick or candlestick chart is a type of chart widely used in technical analysis of the stock market. It reflects: the opening price of a security, the closing price of a security, the high and the low of that security. 10) What does it mean to trade short? To trade short is to sell an asset that you do not own in the hope that its price will go down and you can close the trade at a profit. It is also called going short, taking a short position, going short. 11) What does it mean to trade long? Trading long refers to taking a buying position in a financial asset. It is the opposite of going short. 12) What is a trend? Market trends can be defined as the direction in which a market moves in a sustained manner over a given time interval. 13)What is a range? A trading range is a band defined by two horizontal lines (one at the top as "resistance" and one at the bottom as "support"), which encompasses the price values of a tradable asset over a given period. 14) What is a spread? A spread is an injection of purchases into the market that generate a strong upward price movement. 15) What is a lot? A lot is a standardized group of assets in which an investment is made. Often, the actual value of an asset or security prevents you from trading it in units. Example: One lot of gold equals 100 ounces. 16) What is a contract? a futures contract is an agreement, traded on an exchange or organized market, that obligates the contracting parties to buy or sell a number of goods or securities at a future date, but with a price established in advance. 17) What is the expiration of a contract? Futures contracts have an expiration date, which is the date on which the contract must be settled. As the expiration date approaches, the price of the futures contract is adjusted to reflect the price of the underlying asset at that time. 18) What is a swap? A swap is a contract in which two counterparties agree to exchange obligations or cash flows in order to achieve a benefit. 19) What is a tick? A tick is the smallest price change that can occur in a market. It is represented in points and is always placed to the right of the decimal place. Each market has its own tick and this measure is widely used in the futures market. 20) What is a pip? The term pip is short for "Point in Percentage". It is the measure of the smallest movement of the exchange rate of a currency pair in the foreign exchange market. 21) What is leverage? Leverage is a tool that allows to increase the potential return of an investment by contracting a debt. In the specific case of trading, the broker undertakes to advance the trader a capital to invest in an operation, against the deposit of a guarantee, which is called margin. 22) What is a market order? A market order is an order to buy or sell immediately at the best possible price. It needs liquidity to be filled, which means that it is executed against limit orders already created in the order book. 23) What is a limit order? A limit order is an instruction given to execute a trade at a level that is more favorable than the current market price. There are two varieties of limit orders: entry orders (which consist of opening a position) and close orders (which terminate an open position). 24) What is an indicator? Trading indicators are mathematical calculations that are represented in various forms on a price chart and can help investors identify certain signals and trends within the market. 25) What is technical analysis? Technical analysis is a system for examining and predicting price movements in financial markets based on historical data and market statistics. 26) What is fundamental analysis? Fundamental analysis is a methodology of stock market analysis, intended to determine the true value of the security or stock, called fundamental value. This value is used as an estimate of its value as a commercial utility, which in turn is supposed to be an indicator of the expected future performance of the security. 27) What are chartist figures? the word chartist refers to "chart" in English, so we can specify that the chartist figures are those candlestick formations that form certain patterns that allow us to foreshadow where the trend of an asset could go. 28) What is a support? Support is a level on a market chart where the price recovers in a downtrend. Let's say an asset is falling, but there is a price beyond which it will not fall. Every time it reaches that price, buyers take control and the market goes back up, this would be a support level. 29) What is a resistor? Resistance is an area on a market's chart that is difficult to break through to reach new highs. Resistance is the opposite of support. When an asset reaches it, sellers take control and drive its price back down. 30) What is a divergence? Divergences are behaviors of other assets that act opposite or similar to the main asset. These divergences will give us extra confirmation when trading. 31) What is a gap? In the stock market, a GAP represents a gap between two successive quotations, caused by the lack of transactions in a given period: this gap can also be represented by a news item that has a significant impact on the price of the security. 32) What is market risk? Trading in the stock market must be full of Risk, Daring and Passion. As a generalized meaning, every financial operation carried out by an investor involves some risk. Financial Trading takes place in an environment of uncertainty that may generate unfavorable results or results different from those projected. This risk has two sources: uncertainty and probability. 33) What is risk management? Risk management is a strategy that reduces risks in order to operate with peace of mind. 34) What are risk management strategies based on? In order to have a correct risk management, you must first define your monthly target. Second, we must define how much of our capital we are willing to risk. Third, look for an adequate ratio (risk/reward) that allows us to have a low percentage of success in the operations but that compensates the losses with the profits. And finally, how much we are going to risk per operation. 35) What is profitability? Profitability is the gain you make after selling an asset in which you invested money. This means that, if you buy a stock index futures contract costing $10 USD, which subsequently increases in price to $13 USD and you sell it, you would be earning a return of $3 USD. The profitability you can obtain in trading depends on several factors such as the level of risk to which you expose your operations, the capital, the type of market, the financial asset, the level of leverage you use, the experience you have and your strategy. 36) What is a trading platform? Trading platforms are tools that allow traders to trade over the network in real time. Each platform has its own features. Most of them offer information about the market, allow to schedule trades and offer different paid versions. 37) What is a timeframe? The time frame in trading is the time interval or time frame in which a price chart is analyzed and ranges from ticks to months. It is a fundamental concept in the technical analysis of the financial market, it is a period of time in which the price data of an asset is examined. 38) What is a trading strategy? Trading strategies are the action plans that traders use to trade in the financial markets. These strategies are based on technical analysis, fundamental analysis or a combination of both, and define the entry, exit, risk and capital management rules that the trader must follow. 39) Types of trading strategies There are many types of trading strategies, but they can be classified according to the time frame in which they are applied, the trading style they follow or the indicators they use Some of the most common classifications are as follows: According to the time frame: a distinction can be made between long term trading strategies (positional trading), medium term (swing trading) or short term (day trading or scalping). Each of these strategies involves a different level of frequency, duration and profit per trade. Depending on the trading style: a distinction can be made between trend trading strategies, which seek to follow the dominant market direction, or counter-trend trading strategies, which seek to take advantage of market changes or corrections. There are also neutral trading strategies, which do not depend on the market direction. Depending on the indicators: a distinction can be made between trading strategies based on technical indicators, which are mathematical tools that are applied to prices to generate buy or sell signals, or trading strategies based on price action, which are those that only use the patterns and formations drawn by prices on the charts. 40) What is stop loss? The stop loss is a type of conditional order, which executes the sale of a certain asset if its price falls below the market limit. It is the investor who sets this price level through his broker, thus establishing the maximum level of loss that he is willing to assume. 41) What is the trailing stop? The trailing stop is a type of order that makes your stop loss behave dynamically and evolve with the trend. The maximum loss tolerated is adjusted to the maximum price recorded, and is not anchored to the price of your entry. 42) What is take profit? Take profit refers to limit orders that seek to sell above the level that was bought or buy below the level that was sold. 43) What is benefit bias? Partializing profits refers to taking partial profits before reaching our take profit order. This is done to lock in profits in case our trade does not go to take profit. 44) What is breakeven? The breakeven is an operation that is performed by moving the stop loss price to a price that guarantees that if the market moves against it and the operation is exited by stop loss, no money will be lost. It is usually moved to the entry price of the trade. 45) What types of trading are there? Intraday trading Swing trade Scalping Long-term trading Arbitration Carry trade 46) What is intraday trading? Intraday trading is a short-term strategy that aims to profit from small price fluctuations during the day, rather than long-term market movements. 47) What is the swing trade? The swing trade is a type of trade that uses the charts that the price of assets draws session by session to detect trends, whether bullish or bearish, and follow the market, taking advantage of them to make money when the market rises or falls. 48) What is scalping? Scalping is a type of trading that involves buying and selling financial assets quickly. Traders who trade using this method often seek to generate small profits on each transaction and hold their positions for a short period of time. 49) What is psychotrading? Trading psychology is a term used to refer to the state of mind and emotions that can influence success or failure when investing in securities. It also represents the trader's capacity for self-control, based on the emotional component he/she employs in the decision making process. 50) What is an anchored account? Funded accounts, also called funded accounts, are used to start trading without a deposit, i.e. the company that offers them provides the initial capital so that the selected trader can invest in the markets, generally in financial derivatives. 51) What is a trade log? In trade logs, traders keep all the trades they make, with details of the trade such as date, asset, entry, stop loss, take profit, etc.

by BarboxTrading

Important principles for trading These trade setups encompass various important principles for successful trading. Here's a summary of each point: 1. A bad trade or a series of bad trades shouldn't discourage you. It's important to focus on the long-term performance rather than individual trades. 2. Don't let the outcome of your previous trade influence your decision-making for the next trade. Each trade is independent, and past results should not cloud your judgment. 3. Always stick to your trading plan, regardless of market conditions. Consistency is key to long-term success. 4. Concentrate on trading one specific pair to develop a deeper understanding of its dynamics and improve your effectiveness. 5. Accept that losses are a part of trading and learn to manage and mitigate risks. Reducing anxiety and stress will help you make better decisions. 6. Understand your trading style and choose a trading discipline that aligns with your strengths. Whether you are better suited for short-term, swing, or intraday trading depends on your reaction time and preferences. 7. Trading without a plan, failing to use stop-loss orders, or overusing your account balance can have detrimental effects. Stick to your plan and implement risk management strategies. 8. Recognize that trading is based on probabilities, not certainties. Let go of the need for perfection and focus on reliable trading models and risk management. 9. Keep your ego in check and avoid making emotional decisions. Objectivity and rationality are essential in trading. 10. While day traders focus on smaller timeframes, it's important to consider long-term charts for a comprehensive view of the market. 11. Set realistic expectations and avoid setting overly ambitious goals that can lead to impulsive and unsuccessful trades. Deviating from your plan due to unrealistic goals is counterproductive. 12. Consistency and adherence to risk management and trading plans are more important than the size of your trading positions. Even with a small capital, you can achieve remarkable results through discipline and compounding profits. 13. Avoid unnecessary complexity in your trading approach. A simple system with proper risk management is more profitable and less stressful. Embrace the occasional losses as part of your system. 14. If your trading system consistently fails to yield positive results, investigate the underlying causes and identify your weaknesses. Adapt and refine your approach accordingly. 15. Trading should not consume all your free time. Focus on specific trading hours aligned with the economic calendar and maintain a healthy work-life balance. 16. Overtrading is detrimental to your trading performance. Stick to the setups defined in your trading strategy and trust that new opportunities will arise. Be patient and realistic. 17. Avoid trading when you're not in the right mindset or experiencing negative emotions. Emotional trading can lead to impulsive and irrational decisions. Take breaks and ensure a clear state of mind before trading. 18. Maintaining a trading journal is crucial for tracking trades, analyzing performance, and managing emotions. It promotes organization and discipline, and helps you learn from past experiences. 19. Approach your trading terminal with a calm and focused mindset, similar to how a skilled locksmith approaches their work. Automate your actions through experience and eliminate emotional influences. 20. A professional trader embodies the traits of an analyst, a trader, and avoids the mindset of a gambler. Listen to your analytical side and make informed decisions rather than relying on luck or chance. By integrating these trade setups into your trading approach, you can improve your decision-making, manage emotions effectively, and enhance your overall trading performance. ✅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

Emotions It is impossible to have a prejudice every day. However, it is possible to designate rules, models and criteria in order to exclude decision-making on an emotional basis. Notice, research and record everything that happens before, after and during each of your trades. Pay attention to the time period when errors occur and analyze all the details: triggers, thoughts, emotions, behavior, actions, changes in decision making, changes in the perception of the market, opportunities or current positions, trading failures. Before opening the next trade, remember your previous experience. This will help you avoid repeating old mistakes. The moments after the completion of transactions provide an excellent opportunity to track exactly how you came to this and what thoughts, emotions manifested in the moment. The recording process itself can also help to defuse the emotional state. Your first goal is to reach a level of complete detail in your trading strategy. Continue to map out your behavior pattern in as much detail as possible until you identify the initial trigger and analyze it as part of your trading preparation. During a trading session, try to write down new details. After, combine and analyze your notes to better prepare for the next session. Once you have identified the details associated with your trades, look for the early triggers that come before each one. You may be able to spot smaller errors or notice subtle changes in market perception. For example: you spend too much time on informational noise or make a trade that does not meet all the criteria of your trading plan. Create a working day schedule taking into account the instrument sessions. Set up a timer so that it fires at regular intervals during your scheduled break and doesn't disrupt your work. During this time, take a few minutes to become aware of your thought process and understand how you feel. If there are signs of a problem, write them down. Understand the intensity of the emotions. You may think that anger and frustration are two different emotions, but anger is just heightened frustration. Understanding how an emotion intensifies will help you recognize the details of your behavior pattern, including the original trigger. .... Have you ever faced a situation where, despite having a well-designed trading plan and a carefully crafted trading strategy, your actual trading day turned out to be completely unpredictable? In such instances, your actions deviate from the original plan, and momentary weakness casts doubt on the effectiveness of the entire trading session. These unexpected emotions can catch you off guard. One of the reasons for this is a lack of recognition of what is happening. Emotions often arise as immediate reactions or reflexes triggered by certain events, which traders often misinterpret as problems. Let's consider the example of a loss from a trade. Many traders may become furious and enter positions without following proper trading patterns. However, this doesn't happen to everyone. Instead of expressing anger, some traders easily cope with failures, instinctively understanding the situation and turning it into opportunities. Therefore, a crucial aspect of developing a trading plan is identifying and addressing your own internal struggles, which serve as the underlying cause of the problem. It's important to note that in many cases, the initial trigger for these emotions is subtle and barely perceptible consciously, yet it already impacts your mental stability and your habitual interaction with the market. Even if the trading day starts off on the wrong foot, by regaining composure at the right moment and avoiding impulsive reactions, you can prevent basic mistakes and maintain control over your psychological state, ultimately improving your performance. The secondary arousal occurs when a trader becomes aware of or reacts to the impulses, thoughts, and actions that occurred initially. In simple terms, the mind and thoughts amplify the emotions that have already emerged. In everyday life, people often don't differentiate between these experiences. However, if the source of the reflex is not identified, along with the secondary causes, finding a solution to the situation becomes challenging. Triggers will continue to generate more and more emotions that need to be managed. Awareness of the initial impulse and the subsequent reaction are the two starting points that enable progress. After all, stressful situations can accumulate and overlap, creating a precedent for a cumulative effect. Trading is a business, not a game of chance. This is where it is important to keep a professional mindset while following the trading plan. 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

Overcoming Regret: How To Move Forward and Succeed Regret is a common emotion experienced by traders when they miss out on opportunities or a trade they took doesn't go the way they believed it would. It is a feeling of disappointment or dissatisfaction with a decision that has been made or not made. In trading, the fear of missing out (FOMO) can often lead to irrational decision-making, which leads to missed opportunities or poorly timed entries. Today we will explore the psychology of regret in trading and provide tips for dealing with missed opportunities. The psychology of regret: Regret is a complex emotion that can be triggered by many factors when trading. In trading, regret is frequently stirred up by missed opportunities. When an opportunity slips past a trader, they may experience disappointment, frustration, and anger. These emotions can lead to irrational decision-making, often resulting in further missed opportunities or poorly executed trades. One of the reasons why traders experience regret is due to the phenomenon of counterfactual thinking. Counterfactual thinking is the process of imagining alternative outcomes to past events. When traders miss out on an opportunity, they may engage in counterfactual thinking by imagining what could have been if they had made a different decision. This can lead to feelings of regret and disappointment. Another reason why traders experience regret is due to cognitive dissonance. Cognitive dissonance is the discomfort that arises when one feels a conflict between beliefs and actions. When traders miss out on an opportunity, they may experience cognitive dissonance because their faith in what they see in the market may conflict with their actions. How do we deal with missed opportunities? Dealing with missed opportunities is a principal aspect of trading psychology and maintaining a positive mindset. Your trading strategy and plan may have a strong foundation, but our own mind is often the biggest obstacle we face in trading. Here are some tips for dealing with missed opportunities. Accept that missed opportunities are a part of trading: Missed opportunities are a part of trading. No trader can catch every opportunity that arises in the market. Accepting this fact can help traders cope with the disappointment and frustration that can manifest when opportunities are missed. If we do not recognize this we may start to make brash decisions, which can lead to over-trading. Overtrading can lead to losses that may impact your trading mindset, more negatively than simply missing an opportunity. Learn from missed opportunities: Missed opportunities can be a valuable learning experience for traders. By analyzing the reasons why an opportunity was missed, traders can learn from their mistakes and improve their decision-making in the future. However, it is important to be careful with this, one or two missed opportunities do not mean you need to question your entire strategy. It is important to take a step back and objectively look at what happened and analyze if there were possible opportunities for improvement. Focus on the present moment: Focusing on the present moment can help traders avoid counterfactual thinking. Do not get sucked into making FOMO decisions and entering trades at poorly executed times. Instead of dwelling on missed opportunities, traders should focus on the current market conditions. As traders, we need to be forward-looking to explore new opportunities that can be confirmed by a robust yet simple trading system. Talk it out with other traders or a trading community: Talking to other traders or a trading community can help traders deal with missed opportunities and regret. Other traders can provide support, advice, and a fresh perspective on the given situation. You might be surprised to find out you are not alone in how you feel about missed opportunities. A trading community can also offer a sense of belonging and understanding, which can be helpful in managing other difficult emotions when trading. Conclusion Regret is a complex emotion that can be triggered by a variety of factors when trading, and if you have felt it, you are definitely not alone. Dealing with missed opportunities is a critical part of trading psychology as it happens to everyone at every skill level. By accepting that missed opportunities are a part of trading, learning from missed opportunities, focusing on the present moment, and talking to others, traders can cope with the disappointment and frustration that comes with missed opportunities and improve their decision-making in the future.

Education

The balance of thinking of modern traders If you have made the decision to pursue a career as a trader and are on the path to mastering this profession, it doesn't matter which trading direction you prefer—whether it's intraday crypto trading, Forex trading, or stock trading on the stock market—you will inevitably face a choice: Option 1: Freedom To be a free trader means being someone who learns from others, gains knowledge and insights from their experiences, and studies other people's trading strategies. However, based on the acquired knowledge, a free trader creates and develops their own trading methods, taking personal responsibility for their successes and failures. Option 2: Dependence To be a dependent trader means relying on others instead of learning to trade independently. This type of trader solely depends on trading signal providers or advice from various specialists. They blindly copy other people's methods and systems, hoping to discover a secret formula for success, which can take a significant amount of time to find. Why are we willing to give away our money so easily? In my opinion, choosing personal responsibility goes beyond just trading. It's a fundamental decision that extends beyond selecting a trading style and method. Embracing personal responsibility means making our own choices, taking independent action, and fully accepting the consequences of those decisions. Think honestly and ask yourself: Would you be willing to entrust your own funds to a complete stranger for investment purposes? Would you willingly hand over a substantial amount of money, hoping that they would generate profits and return your investment with decent interest? Most likely not. Perhaps even the thought of it evokes a sarcastic smile. Now, let's examine the situation from a different perspective. Isn't relying on someone else's trading signals and recommendations essentially the same? By executing trade operations based on the advice of an unknown person, you are essentially granting them control over your trading capital. Isn't that a high level of risk? Therefore, in this article, I'm addressing those individuals who are interested in trading but are unsure whether they should completely forgo learning the trade and instead rely on subscribing to other people's trading recommendations, signals, or purchasing trading robots. The choice is yours: either educate yourself, gain knowledge, and be in control of your trading decisions, taking personal responsibility for your outcomes, or rely on others and relinquish a significant degree of control. Of course, you can always choose to discontinue the services of a trading signal provider, but often it's too late when the majority of your deposit is already lost, and there is no one to hold accountable since you voluntarily used the signals. Isn't that true? Consider which thinking style resonates more with you personally. After reading about each trading thought style, ask yourself which one you lean toward. Dependent Trader A dependent trader seeks shortcuts. They desire wealth but are unwilling to put in substantial effort to achieve it. They live in a world of dreams. These individuals are often those who wish for great things in life but instead of attempting to create something on their own, they resort to buying lottery tickets, gambling, or investing in dubious projects that so-called "financial advisors" assure will yield fantastic profits. In exchange for a slice of the pie (which is unlikely to materialize), such individuals are willing to risk money that could have been invested in their own education to acquire at least basic financial literacy. A dependent trader tends to follow the crowd in the market, which often makes irrational and emotion-driven decisions. They rely on "hot signals" to make trading decisions, seek out automated trading programs, and pay attention to all the news and so-called experts. Often, they place trades blindly without a trading plan, acting recklessly without understanding the rationale behind their actions. As a result, such actions inevitably lead to losses, which cause disappointment, emotional breakdowns, and bitterness towards everyone except themselves. The trader starts blaming others for their troubles and misfortunes, whether it's the broker, the provider of trading signals, the stock analyst, or the mythical "puppet master" who supposedly manipulates the market and takes money from honest traders. This inability to accept responsibility for one's decisions and the inclination to blame others perpetuate a behavioral pattern that leads to repeated failures, making any success short-lived, if it ever occurs. Unless this pattern of behavior is consciously changed, it will continue to repeat itself. Free-Thinking Trader At the other end of the spectrum is the free-thinking trader. This type of trader seeks to control their financial future. They want to understand how markets work, explore different trading approaches, and assert their own trading decisions without relying on external advice. An independent trader recognizes that they alone can maximize their chances of success and achieve their financial and life goals. They actively seek opportunities to learn from successful traders, study and learn from their own failures and the failures of others, and gain experience. Can you perceive the difference in mindset and approach to trading? Becoming a profitable trader takes time, but an independent trader is willing to invest in learning, leverage the experiences of others, and ultimately be in control of their decisions. They don't rely on others to make trading decisions for them. While a dependent trader blindly trusts the advice and recommendations of others, an independent trader tests hypotheses, seeks to understand how a particular method works and why it works. At the beginning of their trading journey, an independent trader may utilize the services of a mentor or rely on other reliable sources of education. However, as their knowledge and experience grow, they begin to implement what they have learned independently. A dependent trader would never do this. 4 Steps to Trader Independence What can you do to develop the qualities of an independent trader? 1.Seek information. Read extensively, conduct research, and test any ideas that you believe have merit. Seek assistance, but understand that no single article, book, or forum can provide all the information you need. You must piece together the information puzzle. If you can seek the help of others, it will significantly expedite the process. 2.Clearly define what you want from the market and identify your preferred trading style and orientation. Are you a day trader, swing trader, or long-term investor? Determine what aligns best with your temperament and psychological suitability. Assess the amount of discretionary funds you have available. Once you have answers to these questions, you can begin developing a basic trading plan. 3.Start implementing your trading plan in the market. It's ideal to begin with a demo account. This allows you to evaluate how well your chosen trading strategy performs in real-time and how effectively you can adhere to the established methods and rules. The decision of when to transition to real money trading is up to you. There's no universal solution here. Some traders switch to real accounts after several months of consistent profits, while others may require at least six months or longer. This is normal since every individual is different and has their own perception of reality. The transition to real money trading is typically challenging. Only when you face the possibility of losing real money and experiencing actual profits will you truly understand the psychological stress involved. Therefore, start with a small real account so that any losses won't cause significant financial or emotional harm. Only after gaining confidence and psychological stability should you consider increasing your trading capital. Continuous improvement is crucial. You must constantly strive to enhance your trading skills, learn new concepts, and apply acquired knowledge in practice. There's much to understand and absorb. Becoming a trader is a long journey that requires time, financial resources, and emotional and psychological commitment. Consider these as tuition fees. 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.

Education

by Crypto4light

Our Mind's - Our greatest gift as a human being Our mind's, is our greatest gift as a human being, yet most people use their mind to create unnecessary suffering. How our minds work is fascinating. The brain can be our best friend or our worst enemy. Our mind is the problem. Our mind’s core objective is to keep us alive and avoid pain. We are automatically wired to think in a way that keeps us alive. This thought pattern is hard-coded into our DNA. It might keep us alive, but it makes trading difficult The very thing that keeps us alive is the very thing that makes trading an incredibly difficult proposition, until you have learned how to counter your hard-coding. The issues we face largely fall into two categories: 1. We associate this moment with another moment, whether we are conscious of it or not. 2. We have a mind wired to avoid pain. We have learned to associate in order to benefit from experiences. Association (connecting past moments with the present moment) and pain avoidance do not go hand in hand with trading. Association and pain avoidance are detrimental to profitable trading, in trading each moment is unique, and anything can happen. Trading is the equivalent of a coin-flip game. Emotions kill trading accounts. It isn’t the lack of knowledge that’s stopping you from winning big. It’s the way you handle yourself when you are in a trade. In life, outside of trading, one way to deal with the pain is to talk to someone. As the saying goes, a problem shared is a problem halved. Why a painful experience feels less potent after we have shared it with a friend? don’t know. Maybe the act of verbalising the disappointment puts the problem into a healthier perspective. Either way, you feel better, and the pain subsides. But when you are in trading, while the majority look to run away and rid themselves of pain, you must do the opposite. you must run towards it. you should embrace it. you don’t want to share your pain. you want to hold on to it. you need it. Whether you are new to trading and speculation, or you have years of experience, you should give this question some serious thought: If you want to be a success in a field where 90% or more fail, how do you think you should approach this task? Best Loser Wins - Tom Hougaard

Education

by Minazuki_Ame

🌲 How Music Truly Influences Traders 🌲 Hello TradingView Family In This Post we will talk about Music Analysis in Trading, unraveling its potential to enhance trading experiences. Whether you're a Seasoned Trader in need of fresh Insights or a Trading Newbie aiming to fine-tune your game, we'll uncover how music can groove with your day trading activities. *Some Tips : Having a Good Diet is Really Helping you, Especially Eat some Banana & Broccoli 🍌 🥦 Before Trading. `LET'S GET STARTED ` ⛵🎶 FIRST SESSION : HARMONIC EMOTIONAL RESILIENCE. 🌲🌷🎶 Emotions and trading go hand in hand, but did you know that music can be a secret weapon? It's true! By harnessing the power of catchy tunes, traders can level up their emotional intelligence and keep their cool even when the market gets wild. Picture this: you're in the midst of a rollercoaster ride with your trades, and suddenly, a melody starts playing. It's a feel-good tune that instantly lifts your spirits and brings a smile to your face. That's the magic of music! By creating a playlist full of uplifting and calming tracks, you can create your personal sanctuary in the world of trading. When things get tough, and stress is at its peak, music becomes your anchor. Those soothing melodies gently wash away anxiety and stress, giving your mind the clarity it needs to make rational decisions. And if you need an extra boost, energizing and motivational tracks can pump up your mood, boost confidence, and ignite your inspiration. So, remember, in the world of trading, don't underestimate the Power of Music. Adding a little rhythm to your trading routine can work wonders! By grooving to some tunes, you can tap into your Inner Zen and keep their emotions in check. No more impulsive actions driven by fear or greed – just disciplined and strategic moves. And hey, music isn't just for the soul, it's for the portfolio too! Positive vibes make for a more enjoyable and fulfilling trading experience. So crank up the volume and let the melodies boost your Emotional Intelligence. Create an atmosphere of emotional well-being and Mental Resilience, leading to better trading performance. Who knew Trading could be so Harmonious? SECOND SESSION : UNDERSTANDING PSYCHOLOGY OF MUSIC 🧙🏻‍♂️ Music wields a profound sway over the human psychology. The selection of music exerts a tangible influence on a trader's mindset and emotional state,. Diverse genres like melodies, and rhythms evoke a plethora of emotional reactions. Consider, for instance, that lively and dynamic compositions can instill motivation and positivity, while tranquil and soothing Harmonies induce Relaxation and Sharpened Focus. By astutely handpicking music that aligns with the desired trading mindset, you can exploit the psychological impact of sound to your advantage. During periods of intense market volatility when Scalping or Day Trading, Calming Melodies can Reduce Anxiety. Conversely, during Backtesting in the Market Reading News, Reviewing Trades Invigorating Melodies can Invigorate Attentiveness and Reduce Boredom. Moreover, music has the ability to create a sense of familiarity and comfort. By consistently incorporating specific tracks or playlists into the trading routine, you can develop a conditioned response, signaling the brain that it is time to enter a focused and alert state for trading activities. Ambient Sounds or Instrumental Tracks can also be Beneficial in Creating an Immersive Trading Environment. Nature sounds, or Instrumental Music without lyrics can help drown out distractions and enhance concentration, enabling traders to maintain a deep level of focus on Market Analysis, Backtesting and Decision-making. Understanding the Psychology of Music allows you to use music as a tool to Manage Emotions, Reduce Stress, Boost Confidence, and Maintain a Disciplined Mindset Throughout your Trading Sessions. 🧙🏻‍♂️ FINAL SESSION : TOP DOWN IN MUSICAL ANALYSIS 🌲🌷🎶🎶🦜🌲 Just like conducting a Top-Down Analysis in trading, you can apply a similar approach to Musical Analysis. Intrigued? Let's groove on! Start your trading day by shaking off that sleepiness with an energizing track that kicks your motivation into high gear. Let the beats and melodies set a Positive tone, preparing your mind to tackle the challenges and opportunities that lie ahead. And hey, this strategy works for real-life challenges too! When it's time for Analysis and Backtesting, instrumental music or tracks with minimal lyrics are your go-to jams. These tunes help you concentrate and keep distractions at bay. They create the perfect soundtrack for diving deep into market data and making those well-informed decisions that can lead to success. But what about After Take Profit or Stop Loss, Reviewing Trades or Reading Some Data & News? Well, it's time to switch gears and select calming melodies or ambient sounds. These soothing tunes create a serene atmosphere that promotes clear thinking. Take a mindful approach to evaluating your trading performance, reducing stress, and gaining a fresh perspective on areas for improvement. Now, here's where the real fun begins: experimenting with different genres, styles, and rhythms! Classical music might strike a chord with some, while others groove to electronic or ambient tunes. Find the music that resonates with your trading style and preferences, enhancing your overall trading experience. So, embrace the beat, let the music be your guide, Remember, it's not just about numbers; it's about finding harmony in your trades and enjoying the process along the way. CONCLUSION 🧙🏻‍♂️🌲 By choosing the perfect tunes that sync with your trading style and personal taste, you can create a Zen Trading Atmosphere that boosts Focus, Concentration, and your overall Mood. The Rhythm and Genre of the Music can influence your energy Levels and establish a groove that complements your Trading activities. Don't be afraid to explore various music genres, styles, and rhythms to discover the melodic landscape that clicks with your trading goals. Adapt your musical selection to different phases of your trading routine, leveraging its power to cultivate the right mindset for each activity. Just remember, music is more than just background melody—it's the secret ingredient to your trading experience. And Wishyou Good and Profitable Weeks, I Love Writing this Post, If You Care Please Drop A Boost Button!! 🚀 Happy trading, and may the rhythm be with you!! See You - 🦜🌷🌲 Amazing Free to Use Image By : Indigo Blackwood

Education

Human Vs Machine : Focusing On One Thing In Trading "HUMANS CANNOT IMITATE MACHINE ABILITY. YOU ARE JUST P-?!?!?!?." . . . Hey there, fellow Traders! Listen up, 'cause I've got some deep thoughts for you. So, you know how our minds Work, right?. It's like Focus that Controls everything: how we see things, what we remember, how we learn, how we solve problems, and even how we make decisions. It's like the control center of our Brain! Now, imagine this: Trading is like a mental marathon, and you need to be mentally fit to win the race. And guess what? Focus is the ultimate key to unlock that mental fitness. Without it, your Trading game will be a total mess. It's like trying to Drive a Car with no steering wheel - you're gonna crash and burn! But hey, don't worry, it's not all doom and gloom. I've got a joke for you: Why did the Trader lose all his money? Because he couldn't keep his Focus and kept Chasing Shiny Distractions! Ba dum tss! (no nevermind) GOING DEEPER AND SERIOUS Ever wondered why they call it 'focus'? It's because when you focus, you're actually bringing the power of the Universe to converge on a single point in your mind. It's like creating a Black Hole of thoughts that sucks in all your Mental Energy and Compresses it into a laser beam of Concentration. It's like having a psychic bulldozer that flattens distractions and obstacles in your path, leaving you with a clear mental highway to success. So, folks, let your Mind be the Master of the Universe, and let focus be your Cosmic Superpower in the World of Trading. AGAINST THOUGHT OVERLOAD a Thought Overload is like a monkey on caffeine, jumping from one thought to another. It's hard to concentrate when your mind is busy juggling tasks from yesterday, today, and tomorrow. Especially during those long waiting periods when boredom lurks around the corner, your mind craves distractions. So, why not declutter your mind and make it a Zen Master? Prioritize and structure your day. Give each task its own time slot, and create a special time slot for Trading where you can focus solely on that activity. Say goodbye to irrelevant thoughts that don't serve the task at hand. Keep your mind on a tight leash and don't let it wander off. Remember, less mind clutter equals better Focus, and better Focus leads to Success! "Life is like a sandwich, the more you add to it, the messier it gets. So, keep it simple, with just the right amount of condiments to savor its taste. Too much, and you'll end up with a soggy mess. Too little, and it'll be a bland experience. Find the perfect balance, and enjoy the deliciousness of life - Me" MASTERING THE TECHNOLOGY Technology can be super distracting, you know? Like, you're just trying to focus on your work, but your computer, tablet, and phone keep buzzing and beeping with notifications. Newsletters, voice messages, social media updates, they just keep coming at you like an avalanche. It's like they're all shouting, "Hey, look at me!" It's so hard to resist the urge to check them all the time. But, here's the thing. If you want to be productive, especially during Trading Sessions, you gotta Minimize those distractions. It's like putting on noise-canceling headphones for your brain. You need to create some boundaries and make those notifications less available. Maybe put your smartphone and tablet on Airplane mode, so you can cut yourself off from the biggest distraction potential. It's like a digital detox for your sanity! It's kinda funny, though. We live in a world where technology is supposed to make our lives easier, but sometimes it feels like it's doing the opposite. It's like having a super cool gadget that comes with a built-in "distract-o-matic" feature. But hey, we're all in this together, trying to navigate the digital jungle while staying focused on our goals. So, let's embrace the Awesome potential of Technology, but also be Mindful of its Distractions. Let's put those Notifications on Silent, switch to Airplane Mode, and take control of our Focus. After all, the real "Smart" part of Smartphones and Tablets is the one using them, not the other way around! right? TRADING LIKE A CHEF, WIZARD, JEDI, AND SORCERER CHEF : The Secret Sauce of Preparation. Just like a Master Chef preps their ingredients before cooking up a Storm, Successful Traders know that preparation is the key to unlocking their trading prowess. It's like a Secret Sauce that adds Flavor to your performance, giving you an Edge in the Market Kitchen. WIZARD : The Wizardry of Strategy. Trading is like a Chess game, and your strategies are your moves. But beware, the market is a cunning opponent that's always trying to outsmart you. To win this game, you need to be a Wizard, constantly adapting your strategies and Conjuring up new ones to stay ahead of the game. JEDI : The Jedi Mind Tricks of Mindfulness. Just like a Jedi, Day Traders need to master the art of mindfulness. It's not just about being present in the moment, but also about using the Force to tap into the Market's energy. Trust your instincts, Read the Signs, and let the Jedi mind tricks guide you to Trading Victory. SORCERER : The Sorcery of Time Management. Time is the most precious resource in day trading, and successful traders are like sorcerers who know how to wield it. They use spells like FOCUS, discipline, and efficiency to bend time to their will and create a trading kingdom where productivity reigns supreme. READY FOR BRAIN TRAINING? There a Cool Exercise to improve your Focus. Grab something interesting to read and set a timer for 30 minutes. But here's the twist: set another timer to go off every five minutes. When it beeps, ask yourself if your mind has wandered. If it has, no worries! Just bring your attention back to what you're reading. This helps strengthen your brain's ability to stay on task and keep your focus sharp, like a ninja! "Chase your Dreams 🌊✨" Don't be afraid to dream big, even if your dreams seem far away. We must dare to face challenges, face obstacles, and face uncertainty. We must follow the flow of the waves of life, with determination and perseverance, because it is there that we will find new opportunities and possibilities that we have never imagined before. ahhh Thank you For Reading, I Love Writing about This, i Hope you Have Something that you Can Learn. Please Stay Safe and Always Be there to someone you Loved, Wishyou Profitable Months 😸. Source Images : D5000 Gian Cescon jarmoluk Image by Freepik Jan Weber NWimagesbySabrinaEickhoff

XEducation

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5 Tips on How To Survive a Losing Streak If you can handle a losing streak well; you are better than 75% of traders. So here are 5 tips on how to survive a losing streak : 1. Don't trade smaller - Very controversial opinion. If you feel too much negative emotions to trade then - don't trade. Take a break for a few hours or days. But if you reduce the position size then it will be much harder to get back on track. Let me give an example: You lose 5 trades all with 1% risk. You are now down -5 RR (Risk to reward) = in this case -5% on your account. If you now reduce your position size and take 0.5% risk per trade. You would need to make back 10RR to get to your initial balance. This can be very demotivating. So trust your system en keep on trading as you planned it. 2. Don't focus on the outcome of one or a few trades . It is a statistical fact that you are going to have losing streaks some times and it's important not to take it too personally. The market isn't out to get you. Try to detach emotionally from the trades and focus on the bigger picture. Focus on things like: did you follow your rules and strategy? If you did - then you did all you could and there is no need to talk down on yourself. 3. Learn from your mistakes - mistakes are opportunities for growth. You can do this by always documenting and analysing your trades, eventually you may see a pattern in your losing trades. For example, you may see that the trades you make during London session tend to hit your stop loss. Sometimes a little tweak is all you need to give you the winning edge. 4. Take a break and go for a walk - clear your head and get some fresh air. It's amazing what a little bit of sunshine and movement can do for your mood and perspective. It also makes sure that you don't do stupid things to make back the money you just lost. 5. Don't give up - every trader experiences losses at some point. It's important to stay motivated and not let a losing streak discourage you. Keep a positive attitude and remember that tomorrow is a new day with new opportunities. The psychological side of trading is the hardest but most important one. Without the right psychology in place you can never be successful. Let me know what you think and I wish you all a successful day.

Education

⌛ It's Just A Matter Of Time 📍Journey Of a Successful Trader No one started as a good trader. Every profitable trader was once a newbie. The journey of a successful trader is filled with challenges, hard work, and perseverance. It begins with a strong desire to learn and a commitment to become an expert in the markets they are trading. 📍The Right Path To Reach The Top 🔹Learn the basics of Trading 🔹Pick a Strategy that you fully understand 🔹Trading plan customized to your lifestyle 🔹Back Testing your strategy and plan 🔹Review your Trades, calculate your expectancy 🔹Demo Trading to build basic knowledge 🔹Live Trading, Manage your risk and emotions 🔹Professional Trader 📍Summary The first step in the journey is to acquire the necessary knowledge and skills. This includes learning about the financial markets, technical analysis, risk management, and trading psychology. Successful traders also develop a trading strategy that fits their personality and trading style. Once they have acquired the necessary knowledge and skills, successful traders spend countless hours studying the markets, analyzing charts, and monitoring news events that may impact their trades. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️

Education

❗️5 CRUCIAL TRADING CONCEPTS❗️ ✅Forex trading can be an exciting and lucrative way to make money. However, it can be very challenging, even for seasoned traders. To be successful, it's essential to understand some essential concepts that can help you navigate the market and make more informed decisions. ✅One crucial concept to keep in mind is the impact of position sizing on trading success. Position sizing refers to the number of units you buy or sell when entering a trade. A lot of traders overlook the importance of proper position sizing, which can lead to significant losses. To increase the chances of success, traders should aim to limit their risk per trade to less than 2% of their account balance. ✅Another idea that can help traders is to focus on the outcome of their trades rather than their hit rate. Many traders believe that having a high hit rate is critical to success; this is not true. While accuracy is essential, profitability ultimately depends on the amount of money you make versus what you lose on each trade. Therefore, it's more crucial to focus on a trading strategy that controls losses and maximizes profits. ✅The third concept that successful traders implement is simplicity. Simple and robust systems tend to perform better than complex strategies. Overcomplicating a trading plan can lead to confusion and can even trigger emotional responses that may drive you to make impulsive decisions during trading. ✅This brings us to the fourth critical concept, which is psychology. Trading is 80% psychology, and the remaining 20% is skills and knowledge. A trader with the right mindset is much more likely to succeed than one who lacks the discipline to adhere to a trading plan. ✅Finally, traders who focus on learning one pattern or strategy tend to be more profitable than those who search for fancy strategies or systems. As the trading market constantly evolves, traders must always stay on their toes and keep learning. However, instead of trying to master everything, it is helpful to focus on a single pattern or strategy until it becomes your specialty. ✅In conclusion, Forex trading is a complex practice that requires patience, discipline, and the ability to adapt. With these five principles in mind, traders can become more successful, minimize risk, and increase their profits. By keeping things simple, controlling emotions, and making smart decisions about position sizing, traders can maximize their potential and achieve their financial goals. I Hope you guys learned something new today✅ Wish you all Best Of Luck👍 😇And may the odds be always in your favor😇 Do you like this post? Do you want more articles like that?

Education

by ProSignalsFx

"New bull market!" "Return to normal!" Bubble bust denial lolz FED "pivot" hopes won't die. Bank collapses are "good for the stock market". AI mania has the meme market looking alive again. NVDA, a company in which both revenue and earnings have dropped significantly over the past 3 quarters, is trading at 150+ P/E and 25xSales with a $666Billion market cap! We're "back to normal" folks! /s I LOVE how this classic Market Psychology chart lines up so well with the current NASDAQ monthly chart!

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Its ok to don't know,but its not ok to trade when you don know Some time we don't understand the Market, and its ok. cause some times there is a war between Bulls and Bears, and we don't want to get in the middle of crossfire, or just we don't understand where the market is heading. in this situations just stay away from trading and don't push yourself to open a trade. cause when you don't get the chart, you cant find a good entry and exit point and there is no matter how small is you stop loss or how big is it, it will finally cost you. . . . So go read a book, do some exercise or whatever, just don't push yourselfer.

Education

by EQDailytrading

Is there an Ocean Floor? 🌊 EurUsd We have Seen 2 Colossal moves on EU in the last Day. Yesterday was tremendous buys to begin the week as Every Session saw a bullish push up to HTF Levels and Extreme prices around 1.105. For Breakout Traders we saw a Trap near Weekly Highs at Weekly Level 1.1056. Why would you place buys up there without a Daily candle close confirmation above 1.1045 Daily level IDK to be honest. Yet it was still brutal for buyers as price dropped back to more attractive prices. I was one of the buyers but I flipped my bias bearish as mentioned in Yesterday's publishing. I stated that " For better buys one of the previous 1Hr Zones at 1.1045 or 1.1027 or if we pull back harder.. maybe we'll consider more short term downside because it is quite early in the week " . So based off this I let go of my Ego and began taking sells and it went well. Moral of the story.. follow your trading plan and utitlize tight risk management. Taking a step away from the computer and going AFK can help with psychology enormously. The brain is able to do a reset and when you return, it's in a more optimal state. With that said More Analysis : Looking for a pullback to 1.098 4Hr Zone for Asian and continuation of momentum to the downside. Observing the potential Daily Candle bearish engulfing and hard push to upside early in the week on Mondya, I like more opportunities to the downside. Weekly target is looking like 1.086 which would be a break and retest on the Weekly timeframe. 1.086 being a weekly Level. For buys I would like to see support at 1.0953, maybe consolidate and move up from there.

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Mastering Trading Psychology: Overcoming Emotional Biases Welcome to another edition of our educational articles that should help the TradingView newbies find an edge over the market and help strengthen the existing mentality for already successful traders. Trading is not just about having a winning strategy and implementing it correctly. Trading psychology plays a crucial role in trading performance. Emotional biases, such as fear, greed, and overconfidence, can lead to impulsive decisions that can hurt trading results. In this article, we will explore the most common emotional biases that traders face and provide strategies to overcome them (of course, we’ll do it step by step, so it is easier to follow). Step 1: Understanding Forex Trading Psychology Trading can be an emotional roller coaster ride, with traders experiencing a wide range of emotions, from elation to despair, in the course of a single trading day. In this section, we will take a closer look at the impact of emotions on trading performance, as well as the most common emotional biases that traders face. Now, I know some of you might be thinking, "Emotions? In trading? Ha! I'm a robot, I don't feel anything." Well, I hate to break it to you, but even the coldest and calculating traders out there have emotions. Unless you're literally a robot, in which case, congratulations on achieving self-awareness! But in all seriousness, emotions can have a significant impact on trading performance. Fear can cause traders to hesitate and miss out on profitable opportunities, while greed can lead to impulsive and reckless trades. And let's not forget about good old-fashioned FOMO (fear of missing out), which can drive traders to chase after trades that have already run their course. So, what are some of the most common emotional biases that traders face? Let's take a look: 1. Confirmation bias - the tendency to seek out information that confirms our preconceived notions, while ignoring evidence that contradicts them. This can lead to overconfidence and blind spots in our trading analysis. 2. Loss aversion - the fear of losing money, which can cause traders to hold onto losing positions for too long or exit profitable trades too early. 3. Anchoring bias - the tendency to rely too heavily on the first piece of information we receive, even if it's not the most accurate or relevant. This can lead to inaccurate price predictions and poor trading decisions. Now, don't worry if you see yourself in some of these biases. We all have them to some extent. The important thing is to recognize them and develop strategies to overcome them. In the next section, we'll explore some techniques for managing emotions and developing a strong trading mindset. But first, let's take a moment to appreciate the fact that even in the world of finance, emotions play a big role. Who knew we traders had feelings too? Step 2: Overcoming Emotional Biases Now that we've explored the impact of emotions on trading performance, it's time to look at some strategies for managing those emotions and overcoming the biases that come with them. Because let's face it, we traders may be good with numbers, but we're not always the most emotionally stable bunch. One effective way to overcome emotional biases is to develop a solid trading plan. Now, I know what you're thinking, "A plan? That's it? Where's the magic bullet? The secret sauce?" Sorry to disappoint, folks, but there's no magic formula for success in trading. It's all about good old-fashioned discipline and consistency. Another technique for managing emotions is mindfulness. Now, before you roll your eyes and start chanting "Om," hear me out. Mindfulness is simply the practice of being present and aware of your thoughts and feelings without judgment. By practicing mindfulness, we can become more self-aware and better able to recognize and manage our emotional biases. Of course, sometimes it's not just a matter of managing our emotions but overcoming them altogether. For example, fear can be a powerful emotion that can cause us to miss out on profitable trades. One strategy for managing fear is to set up a stop loss order. This will automatically exit a trade if it reaches a certain price point, helping to limit our losses and alleviate our fears. Finally, building discipline and consistency in our trading decisions is essential for overcoming emotional biases. As the saying goes, "Plan your trade, and trade your plan." Stick to your trading plan and strategy, even in the face of strong emotions like fear or greed. And remember, discipline is not just about making good trading decisions, it's also about being disciplined in other areas of your life, like getting enough sleep and exercise. Now, I know it's not always easy to overcome emotional biases, especially when there's money on the line. But with a little practice and discipline, we can become more effective traders and achieve better trading results. And hey, if all else fails, there's always therapy, right? Just kidding...kind of. Step 3: Staying Mentally Fit for Trading Success In this section, we'll take a closer look at developing a strong trading mindset, which is essential for long-term success in the forex market. One key aspect of developing a strong trading mindset is to approach trading as a business, rather than a hobby or a game. This means setting clear goals and objectives, developing a trading plan and strategy, and keeping detailed records of your trades and performance. And if you're serious about trading, it also means investing in the right tools and resources, like a reliable trading platform and access to up-to-date market news and analysis. Another important aspect of a strong trading mindset is the ability to stay disciplined and patient in the face of adversity. As traders, we all face losing trades and setbacks from time to time. But it's how we respond to those challenges that makes all the difference. It's important to stay focused on the long-term goals, rather than getting caught up in short-term fluctuations and emotions. Of course, maintaining a strong trading mindset is easier said than done. It's easy to get caught up in the excitement of the market and make impulsive trading decisions. That's why it's important to take breaks, practice self-care, and maintain a healthy work-life balance. As the saying goes, "All work and no play makes Jack a dull boy." And let's be honest, no one wants to be a dull trader. If you have any particular exercise you find useful for yourself, make sure to drop them in the comments below, so we can all try them out! Have an awesome weekend, family!

Education

The Benefits of Keeping a Trading Journal for Your Psychology Trading can be a challenging and emotional endeavor. As traders, we must navigate through various market conditions, deal with losses, and manage our emotions. It's not surprising that many traders struggle with maintaining their psychological balance. However, one tool that can help traders keep their emotions in check and improve their trading is a trading journal. A trading journal is a document or software that traders use to track their trades, analyze their performance, and record their thoughts and emotions during the trading process. Here are some of the benefits of keeping a trading journal for your psychology: Self-Awareness Keeping a trading journal helps traders become more self-aware of their thoughts, emotions, and behaviors while trading. By recording their trades and reviewing them, traders can identify patterns in their behavior, emotions, and decision-making. This self-awareness can help traders recognize their strengths and weaknesses, and develop strategies to improve their trading. Improved Decision-Making A trading journal can also help traders make better decisions. By analyzing their trades, traders can identify mistakes they made and learn from them. They can also identify successful trades and analyze what they did right. This process can help traders develop a more effective trading strategy and improve their decision-making skills. Accountability A trading journal can help traders hold themselves accountable for their trading decisions. By recording their trades and emotions, traders can see where they went wrong and take responsibility for their mistakes. This accountability can help traders learn from their mistakes and avoid making the same ones in the future. Stress Management Trading can be a stressful activity. By keeping a trading journal, traders can vent their emotions and reduce their stress levels. Writing down their thoughts and emotions during trading can help traders release their negative emotions and feel more relaxed. This stress management technique can help traders maintain a healthy psychological state while trading. Goal Setting Keeping a trading journal can help traders set and achieve their goals. By recording their trades and analyzing their performance, traders can identify areas where they need to improve and set goals to achieve those improvements. These goals can be related to profitability, risk management, or any other aspect of trading. Setting and achieving these goals can help traders feel a sense of accomplishment and increase their motivation. In conclusion, keeping a trading journal is an excellent tool for traders to improve their psychological state while trading. By increasing self-awareness, improving decision-making, holding oneself accountable, managing stress, and setting goals, traders can improve their overall trading performance. Therefore, it's highly recommended for traders to keep a trading journal to improve their trading psychology.

Education

15 Key Principles for Trading Succes Hello fellow traders! I have compiled an article containing valuable insights and practical advice to help you navigate the trading world. Covering essential topics such as technical analysis, risk management, and adapting to market conditions, this resource is designed to enhance your trading skills. Dive in, learn, and apply these principles to your trading journey. Wishing you success and happy trading! 1. The Importance of Risk Management in Trading The key to successful trading lies in managing risks effectively. You need to have a solid plan to protect your capital and stay in the game. Some risk management strategies include using stop losses, limiting margin usage, diversifying your portfolio, and risking only a certain percentage of your portfolio on any given trade. Remember, the best traders know how to limit losses while maximizing profits. 2. Building a Solid Trading Plan Every successful trader has a well-thought-out trading plan that they follow religiously. This plan should include your trading goals, strategies, risk management, and entry and exit points. Crafting a solid trading plan helps you stay disciplined and focused, ensuring long-term profitability. 3. The Value of a Trading Mentor and Learning from Others Having an experienced trading mentor can significantly boost your trading performance. A good mentor can provide valuable insights, guidance, and constructive criticism, helping you refine your strategies and avoid common pitfalls. Also, don't hesitate to learn from other traders by subscribing to high-quality trading YouTube channels or participating in online forums. 4. A Comprehensive Education in Finance and Economics To conquer the financial markets, you need a strong foundation in the basics of finance, macroeconomics, and microeconomics. This knowledge will help you understand the driving forces behind market movements and make more informed decisions. Khan Academy offers excellent free courses in these subjects, and for technical analysis, consider reading "Technical Analysis of the Financial Markets" by John Murphy. 5. The Power of Charting and Technical Analysis Mastering charting and technical analysis is essential for making accurate market predictions. Spend time learning how to use your charting platform, like Trading View, and familiarize yourself with various indicators, tools, and strategies. Knowledge is power, and the more you know about your tools, the better your trading results will be. 6. Staying Humble and Detached in Trading Leave your ego at the door when it comes to trading. It's not about being right; it's about making money. Stay humble and unemotional, and don't let pride or personal attachments cloud your judgment. Remember, every trade has inherent risks, and past performance does not guarantee future success. 7. The Benefits of Keeping a Trading Journal Maintaining a trading journal helps you track your progress, learn from your mistakes, and refine your strategies. Record your insights, trading plans, and the outcomes of your trades. This practice will make you more disciplined and focused, ultimately improving your overall trading performance. 8. Avoiding Speculation and Emotional Trading Successful traders make decisions based on data and analysis, not speculation or emotion. Keep your feelings in check, and never enter or exit a trade based on fear, greed, or personal attachment. Stay objective and remember that data-driven decisions yield the best results. 9. Staying Informed and Recognizing Market Trends Pay close attention to market trends and financial news. Be aware of what's happening in the world, and use this information to inform your trading decisions. However, be cautious of hype and mania, as they often signal the peak of a trend, rather than its beginning. 10. The Art of Strategic Entry and Exit Points Before entering a trade, plan your entry point, stop loss, and profit target. Always ask yourself how much risk you're willing to take for a potential profit. By carefully considering these factors, you'll make more informed decisions and improve your overall trading success. With these principles in mind, you'll be well on your way to mastering the financial markets and achieving consistent profitability in your trading endeavors. Remember, the key to conquering the financial markets lies in continuous learning, discipline, and adaptability. Keep refining your strategies, stay informed about market trends, and always be prepared to adjust your approach as needed. 11. Adapting to Different Market Conditions Markets are ever-changing, and it's crucial for traders to adapt their strategies to suit different market conditions. Develop various strategies for both bull and bear markets, and be prepared to switch gears when the market demands it. Flexibility is the key to long-term trading success. 12. Utilizing Diversification for Risk Mitigation Diversification is an essential part of risk management. By spreading your investments across different assets, sectors, and even trading styles, you can reduce the impact of losses in any single area. This approach helps to protect your overall portfolio and ensures more consistent performance. 13. The Importance of Breaks and Mental Health Trading can be intense and emotionally draining. It's essential to take regular breaks and maintain a healthy work-life balance. By stepping away from the charts, you can recharge, gain perspective, and ultimately make better decisions when you return to trading. 14. Networking and Building Connections in the Trading Community Engaging with the trading community can provide valuable insights, ideas, and opportunities. Attend trading events, join online forums, or participate in social media groups to network with other traders. Sharing experiences and learning from others can greatly enhance your trading skills. 15. Constantly Improving and Evolving as a Trader Finally, never stop learning and evolving as a trader. The financial markets are constantly changing, and what works today may not work tomorrow. Stay curious, keep learning, and be open to new ideas and strategies. By embracing change and growth, you'll ensure long-lasting success in the trading world. In conclusion, conquering the financial markets requires a combination of solid education, discipline, adaptability, and a willingness to learn from others. By implementing these principles and continuously improving your skills, you'll be well-equipped to navigate the complex world of trading and achieve lasting success. So, roll up your sleeves, dive into the markets, and start your journey towards becoming a master trader.

Education

Why do most traders end up losing money This question is quite scary, but if you are a novice and see this question, congratulations, you are on the right path of trading. The most important lesson to learn before entering the financial markets is risk expectation. You can ask yourself, how much money do you want to make from trading? Is your goal asset appreciation, or a small fortune? If a trade loses money, will it affect your own life? Is your own character able to stop losses in time, or do you have no self-control? After asking these questions, we decide whether to enter the financial market. So why do the vast majority of traders lose money? 1. Because of the particularity of the financial market. I believe that many friends have heard of the 28 rule. For example, in the distribution of wealth in our society, 20% of people control 80% of social wealth; 20% of people will persist in encountering difficulties, and 80% of people will give up when encountering difficulties. The rule of 28 is ubiquitous in life, and it also determines what kind of people will succeed and what kind of people will fail. As for the financial market, it is crueler than real life, because there are no rules in this market, only human nature, so the financial market even surpasses the rule of 28, and less than 10% of people may make profits. In the face of money, most people want to make a big fortune with a small amount, and want to turn around by trading, so those who have stable personalities, strong self-control, low income expectations, and money in their hands are silently harvesting these people who are eager for quick success. Some people may say that the world is inherently unfair, and those who hold funds can only survive because of the capital. Actually no. We Xiaosan hold small funds, and we can achieve low return expectations, or we can do it slowly, but how many people are just anxious to make money? Just want to make a big difference with a small one? Just don’t regard money as money, and think it’s a big deal to take a gamble, and if it’s gone, it’s gone? So it has nothing to do with the amount of capital, but has something to do with people. In financial markets, human nature is the rule. 2. Too many people are dominated by human nature. As I said before, there are no rules in the financial market, and human nature is the rule. Trading is a very anti-human thing. Human nature is greedy for comfort, averse to risk, afraid of losing, feeling that one's level is higher than others, hating giving and learning, impatient, etc., which will be infinitely magnified in trading. There is a saying in the trading industry that trading can be profitable, mentality accounts for 70%, and technology accounts for 30%. In actual combat, it seems that it is not difficult for traders to see the market correctly, but it is very difficult to complete this wave of market and make profits. Why? I give two examples. For example, the problem of stop loss in trading. Seeking advantages and avoiding disadvantages is a characteristic of human nature, unwillingness to lose, unwilling to accept losses, this is human self-protection awareness. Stopping losses in the wrong direction means losing our real money, who can bear it? So in actual combat, many people rationally know that the direction is wrong, but they just don't stop losses, and even increase their positions against the trend, floating orders, allowing the stop loss to become bigger and bigger, and finally lead to serious losses. Another example is the profitable position in the transaction. The market trend always fluctuates upwards, or fluctuates downwards, and profit taking in positions is often encountered. Once profits are withdrawn, we will have a sense of insecurity in our hearts, worrying about the reversal of the market and losing profits. This insecurity is also due to human nature. Even if we rationally know that the profit target has not yet been reached, we should continue to hold positions, but the little emotion of longing for peace of mind has been tormenting us, and in the end we couldn't help but close the position, and made a lot of less money. We comfort ourselves that it is all right, at least there is no loss. But in fact, less earning = loss, because the amount you lose next time will be greater than the money you earn. In the long run, your overall loss will be. There are many such examples, such as betting on the market, heavy trading, unwillingness to admit defeat, stop loss leading to liquidation, etc., are all caused by the aversion to loss in human nature and the fear of failure. In fact, if we look at the trading market 100 years ago, it is basically the same as the current human nature problem. The weakness of human nature is very strong, and it is also the main reason why traders lose money. So at the beginning, I asked everyone to ask themselves those questions, just to let everyone understand their own personality, their current situation, and their human nature, so as to help you win certain opportunities in the trading market. Trading is like a free game. It seems that the threshold is low and no money is required, but in fact some hidden costs are contained in it, and the human nature is clearly played for you. Therefore, before making a transaction, you must have an existing risk expectation, and then think about making money.

Education

by CheetahAttack

How not to miss an opportunity. I found out about Bitcoin many years ago when it was in prime time only to be associated with organized crime , scams, and money laundering. And that remained deep in my mind. Since jail seemed a bad idea, I convinced myself that crypto it’s not for me. As time went by, I didn’t see the good fortune because my mind was still relating Bitcoin to a dark area . Something kept me from buying and I didn’t know what. As I was on the dark side, I am now thinking that the ones who listened to another side of the story, the winning side, greatly benefit from it. Later I found out that psychologists have a name for my burden and it’s called Anchoring bias . It is described that first introduced knowledge on a subject has a great impact on our later decisions . The first details I come upon Bitcoin unconsciously affected my judgment and kept me in a do not act state of mind and made me miss my chance. That’s when I found some ways to improve my decision-making process and to look at data from another perspective , which I am going to share with you. But first, let’s take a glimpse at anchoring bias, an error of our mind present in many aspects of our lives, which usually works against us. Picture yourself in a shop on Black Friday. Would you buy an item for 150$ and how would that make you feel if you knew that it was discounted from 200$? We tend to look at the price of 200$ as an anchor that quickly drives our behavior to a decision to act. Similar to adjustment bias, comparing the 200$ item now seems like a bargain. The same thing happens in trading. How do we know whether a stock is overpriced or not? By comparing it with past quotations that act as an anchor. Is BTC overpriced at 20k? We all would agree that in 2017 it was, but how about now? These anchors make us act unwisely and take unconscious decisions with small returns. This could lead to unsatisfying results, frustration, or wipe our account over the long run. Once you get better at identifying the anchoring bias, you can use it to your advantage. Think about what makes good and strong support & resistance. The perception is that a large number of investors credit that bid as a fair value for them. So what should we do? T o have a better understanding of what drives our choice it’s important to double-check our mindset, emotions, and the data that we encounter. Does it help us or it could be a potentially harmful anchor? What is the context of the news? In the example above, could we consider solely that 150$ is a fair price, without the 200$ price before the discount? Also, if you have a strong assumption about a subject, try to look at other points of view, not to change your mind but just to reinforce the reasons you already have. Remember that the first step into overcoming a bias is to be aware of its presence and next just look inside you to find proof that drives your decisions. So, let’s recap Find context - Figure out if the price you set for your buy order is a fair one or if you find it good compared to the day before. Find anchor - Do I want to invest in this company I have never heard of before just because my cousin thought it was a good idea? Observe - Do I have doubts about this buy? Do I follow my plan or I am unconsciously driven to make this purchase Review - Have I looked at other oppions?

by TheSimpleThinking

6 ways to stop loss in gold Take profit and stop loss are one of the most important links in the entire trading system. After studying this article, you will be able to thoroughly understand the stop loss method. You can bookmark it before reading it. If you feel that you have gained something, you can like it, thank you. 1. 6 stop loss methods Stop loss means that when our order loss reaches a predetermined value, we need to close the position in time to avoid greater losses. In a complete trading system, stop loss Stop loss is divided into static stop loss and dynamic stop loss. Static stop loss means that after the order enters the market, the stop loss is set at a fixed stop loss space, or the stop loss amount remains unchanged. Once the market trend is unfavorable, the stop loss will be closed when the set position is reached. For example, after an order enters the market, set a stop loss of 100 points, and close the position when 100 points arrive. Dynamic stop loss means that the standard of stop loss in the trading system is dynamic. When we hold a position, the market is constantly fluctuating, and there is no fixed point for when to stop the loss. We must observe the dynamic market changes until there is a trend that meets the stop loss standard, and then stop the order. For example, when holding long orders, the stop loss standard is that the market forms a short reverse break position structure, and we will stop the loss manually at this time. Method 1: Fixed stop loss space, or fixed stop loss amount. This is a relatively simple static stop loss method. After the order enters the market, set a fixed stop loss space, for example, after an intraday trading order enters the market, set a fixed 30-point stop loss. Or set a fixed amount stop loss, for example, if the order loss reaches 1% of the principal, the stop loss will be stopped. There are also traders in the stock market who stop loss at a fixed percentage of market retracement, for example, stop loss if the stock falls by 5%. In this way of stop loss, the space for stop loss should be determined according to the specific volatility of different varieties.is absolutely necessary, and a trading strategy without stop loss will eventually end in loss. Method 2: Stop loss at high and low points. High and low point stop loss is the most common stop loss technical standard, and it is also a static stop loss method. The market always operates in the form of waves, so there will be continuous rising or falling callback highs and lows. These highs and lows are also called inflection points. In actual combat, the starting point of the wave or the inflection point of the callback is used as the stop loss point. After the bottom of the market breaks, open a position. There are two ways to use stop loss at high and low points. One is to place it at the inflection point, and the other is to place it at the starting point of the wave. The inflection point stop loss, the stop loss space is small, the profit and loss ratio is good, but the fault tolerance rate is low, and it is more aggressive. Stop loss at the starting point of the market, the space for stop loss is large, and the profit-loss ratio is worse, but the fault tolerance rate is high and more conservative. This stop loss method is also relatively flexible, as the volatility changes, the stop loss space will also be adjusted. Method 3: Combine technical stop loss. Stop loss combined with technical positions refers to the combination of key positions of technical indicators in actual combat, and stop loss when the market breaks through these technical positions. For example, important support and pressure levels, or technical moving average levels, etc. Method 4: Stop loss in trend reversal pattern. This is a dynamic stop loss method. After the order enters the market, the market goes out of a reverse structure or form. At this time, it can be understood that the trend has reversed and the order is stopped. In actual combat, you can combine your most commonly used criteria for confirming reversals. You can use the crossing of moving averages, or the breakout of trend lines and channel lines, etc., as long as the standards are consistent. Method 5: Stop losses in batches. In an order, set multiple stop loss standards, and stop losses in batches in proportion to different stop loss points. This is a compromise stop loss method. Set different stop loss points through different stop loss standards to disperse the risk of stop loss. In actual combat, it is often encountered that after the order stop loss, the market reverses and goes out of the original trend. At this time, because the order has stopped loss, it is very disadvantageous. The operation of batch stop loss can keep a part of the position when encountering this situation, and can continue to make profits after the market goes out of the direction again. Method 6: Moving stop loss. Trailing stop loss means that after the order enters the market, the market develops in a favorable direction. After leaving the entry point and gradually generating profits, the stop loss is adjusted from the original stop loss point to a more favorable direction. The market gradually develops and the stop loss Also adjust gradually. Moving stop loss is a bit like the left and right feet when climbing stairs. When your right foot goes up the steps, your left foot will follow. Every time the profit increases to a certain extent, the stop loss will follow. The first purpose of trailing stop loss is to preserve capital, so most of the time the first step of trailing stop loss is to move the stop loss to the cost price. In this way, even if the worst result is encountered, the order will be out of the market without loss. After setting the trailing stop loss, the order will no longer lose money, and even the profit has been locked. At this time, the psychological pressure of holding positions is very small, which is conducive to the execution of transactions. These 6 stop loss methods, you can choose the appropriate method according to your own trading strategy OANDA:XAUUSD OANDA:XAUUSD COMEX:GC1! TVC:USOIL BINANCE:BTCUSDT.P COINBASE:BTCUSD

Education

by CheetahAttack

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