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Reminescence of a Scam Operator (ANTI SCAMMER GUIDE)Reminiscent of the roaring 1920s, the 2020 epidemic and the inability to work for many people brought an influx of new retail investors to the public market. Furthermore, the FED's decision to prop up the market by dropping interest rates combined with stimulus checks handed out by the U.S. government lured in even more investors who were hungry for profits. Although the market sensation also brought a rise of omnipresent scams across all trading platforms. Lack of workforce, sophisticated methods, and automated bots often play into the hands of perpetrators who try to get ahead of the platform and its users. Therefore, we decided to write this concise article with the purpose of helping new investors to recognize good apples from bad ones. The most common means of communication for criminals is to use private chat, public chat, comments, ideas, and headline references. Several examples of red flags are shown below. RED FLAGS AND OTHER POINTS: Asking for personal information and TradingView account information One common tactic criminals use to exploit their victims is to ask for personal information or account information (login and password). This information should not be disclosed to anyone, including someone claiming to be a platform's employee/support (as these people tend to have access to this information). Asking for trading account information Another standard method bad actors use is asking for trading account information. On such occasions, a perpetrator asks for existing account information or requests a victim to create a new account; then, a perpetrator usually asks the victim to invest money into the account and let them use it in return for shared profits. False promises The third point probably accompanies every other point on our list. This point relates mainly to false promises about trading achievements, which often include statements about having a high win rate, high net worth, and an unbeatable trading system. Financial gurus and lavish lifestyles A high follower count and strong social media presence do not equal reliability. Perpetrators often portray lavish lifestyles across social media platforms to entice more people and trick them into buying a trading signal service or trading course (or any other service). The public image does not necessarily have to match a person's authentic lifestyle. Indeed, trading as a career is highly time-consuming and does not come with trading from a vicinity of a pool or ski resort; that is just public perception. Trading signals and trading courses Unfortunately, most of the time, trading signal services (for buy) lack performance and do not consider subscribers' risk tolerance and account sizes. In regard to trading courses, we hold a similarly low opinion of them as we think learning a skill to trade goes far beyond a few hours of any trading course. Unrealistic win-rate claims Most brokerages report that their retail clients lose about 50-90% of the initial capital, especially when trading CFDs. Therefore, we would like to put in perspective how realistic claims about a high win rate really are. Professional traders tend to peak at approximately a 50% win-rate over a consistent period. Thus, claims about a 90% or higher win rate are likely to be false. Guaranteed moves and risk-free investments Another tactic of scamming utilizes guaranteeing moves in the market. However, there is nothing like a guaranteed move since the market constantly changes and is influenced by complex factors. These are just few points we included, however, we ask a public to share their own points in the comment section. DISCLAIMER: This content serves solely educational purposes.
Editors' picks
SP:SPXEducation
by Tradersweekly
70
3 Rules To Follow When Trading While Working Full-Time👋 Hello, and welcome my name is Dean Muller from WealthTIP where our tip for wealth is to trade invest and prosper, today’s post is focused on the 3 rules that I believe you need to follow if you want to actively and successfully trade the markets while still working a full-time job, business, or side hustle. So, if you enjoy this type of content then go ahead to leave a thumbs up and that way we know that we’re on the right track to meeting your content needs. Now that we covered that, let’s jump over to the first rule you need to implement as a trader, working full-time. 1. 📝 Create a Watchlist I remember when I started trading I only traded one pair, and that was the GBPUSD, as I began honing in on my skills as a technical trader, I started looking at a few more pairs, and the more pairs I looked at the more opportunities I saw, the problem was however, that I wasn’t able to keep up with the movements of each pair and this coursed me to lose focus on the pairs I had positions on and ultimately mismanage a lot of the trades. I then reached out to a good friend of mine and he suggested I create a watchlist now at the time I had absolutely no clue what a watchlist was, and if you don’t know what it is, it’s simply a list of pairs that according to your strategy has potential trade setups coming together with a probabilistic profitable outcome. Now if you would like me to do a video showing you how to put a watchlist together, then simply write a comment in the comment section below and if we get 100 likes on this video then I will be happy to put one together, but for now This is a cardinal rule for anyone trading, while still working full-time. 2. ⏰ Set Trade Alerts When you are working, vary rarely are you able to access the charts freely, this means that you could miss out on the very opportunities you identified when you put your watchlist together. The best way to combat this is to use platforms like tradingview that allows you to set trade alerts that will notify you when the market is on an area you deem significant. Setting these alerts ensures that you aren’t distracted by the charts while you working and you won’t have to check your phone every 5 min, instead, you only jump on the charts once you are notified, making it easier to focus on your job, while still having a hand in the markets. 3.🎯 Use Pending Orders Pending orders are a powerful tool that trading platforms provide all traders with, and no one benefits more from pending orders than someone working a full-time job. Personally after putting my watchlist together I have a good idea with regards to where I intend to enter the markets, and because I do my watchlist over the weekend when the markets are closed, I set all my pending orders as soon as the markets opens Sunday midnight. What this allows me, is the freedom to focus on other things while still having a hand in the markets. Now if you would like to know more about how you can use pending orders to make your trading easier give this video a thumbs up and I will be sure to put that into our project list. And always remember, if you frustrated, annoyed, angry or anxious when trading, then you doing it wrong, and should check out our Foundation Series, where we explain the process to successful technical analysis in a plain, and simple way. Furthermore, I really do hope that you were able to extract some value from today’s post, and if you did be sure to hit like and share so that we can continue creating content that not only serves you, but equips you to successfully and joyfully navigate your way through the financial markets. So until next time, you should keep well and bye for now.
Education
by DeanMuller
6 Rules of SuccessI get asked all time how I've been successful in my lifetime. I started out with nothing. $0 and living on my own at an early age, a high school dropout. I worked at learning computers every minute of the day for decades. Before I knew it, everyone around me was coming to me for the next idea, the next problem to solve. Not having a strong support system that most post-sec schooling students had. I clung to 80s and 90s role models in Hollywood like Arnold Schwarzenegger. His 6 rules of success resonated with me and I adopted them in the same regard as others would adopt religious beliefs. His rules of success are: 1) Trust Yourself - If you don't believe you will be successful, nobody else will. 2) Break Some Rules - Not the law , but the rules you think society has placed on you or holding you back. 3) Don't be Afraid to Fail - Learn from your mistakes and eventually there won't be any failures you are not prepared for. 4) Ignore the Naysayers - The easiest rule but sadly the hardest to follow. When people tell me I'm wrong, or a clown I feel energized that I'm on the right path. 5) Work Like Hell - I can't understate how much this rule is required. If you're not constantly learning and working towards your goal, others will pass you. 6) Give Something Back - When you mastered the other 5 rules, you will be successful. When you are, help someone out, encourage others, tell your story and it might inspire the next Arnold. When I was given my first shot, everyday I worked overtime. In the office before everyone, the last to leave. I wasn't even paid OT (salary position). It wasn't long before I noticed the CEO getting to the office earlier to beat me in and staying until I left. My first pay raise was x2 my salary after the first 3 months. That was shortly after I cost the company nearly 100k in shipping charges when I made a mistake in programming that was shipped out across the country. The moral of the story is the CEO saw how hard I was working, changed his routines to support me (giving something back, working like hell) and looked past any mistakes. When I left and went to my next job, I was senior, then given ownership, now on my own. If you work like hell for what makes you happy. You will get it.
FRED:A072RC1Q156SBEA
by SPYvsGME
7
Market Analysis with Shaquille KIING - 25th August 2022Hey there. I trust you are well and healthy. This is a short video of me analyzing; AUD/NZD USD/ZAR USD/CAD ( Missed Entry) CHF/JPY Please comment, like, and subscribe. Share this video and show some love. FOREX COMMUNITY ✝️♥️ ‼️FULL DISCLAIMER: ‼️ 🔹THIS IS MY TRADING JOURNAL. 🔹TRACKING ALL MY TRADES TO MASTER A NEW LEVEL OF CONSISTENCY. 🔹I DO NOT ADVISE YOU TO TAKE MY SIGNALS AS I AM NOT IN CONTROL OF YOUR MONEY, NOR YOUR MT4. 💰HOWEVER, I AM SHAQUILLE_KIING AND THIS IS MY JOURNEY TO ONE HUNDRED BILLION RAND. I WELCOME YOU ALL TO JOIN ME. THIS IS NOT A GET-RICH-QUICK SCHEME, NOR AM I AN FINANCIAL ADVISOR. WE LEARN TOGETHER, WE EARN TOGETHER 🙏 Trading Futures, Forex, CFDs, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. #SHAQUILLEKIING #ROADTOA100K BE SMART! TRADE SMARTER! Thanks for the support 😋 -Shaquille Kiing ✝️❤️
by Shaquille_kiing
BTCUSDT - InformativeHello, today I decided to make just an informational post for you. If you want to become a successful trader in the market one day, you must first accept the fact that the price of any instrument can make any movement, throughout my career as a trader, I have met different people and the ones that never cease to amaze me are those who define one direction and explicitly stands behind it. Such people can even insult you that you are a fool if you think that the market will go in the opposite direction of their analysis. To start being consistently profitable in the markets you have to be willing to accept the fact that you can be wrong. As I remember my beginnings, I was no different. If my price hit SL, I started to blame those who decided to go against me, that it makes no sense to sell there or, on the contrary, buy. Fortunately, a very long time has passed since then and now I look at the market with the possibility to focus on both directions and I try to trade the one that has a higher probability for me. Of course, the fact that it has a higher probability still does not guarantee that the price will go in that direction! That's why today when I look at BTC, for example, I determine the potential reversal zones where it can occur and then I focus on whether it will give me an opportunity or not. I am not focused on only one direction, but on several at once. In this way, the market can never "surprise" me again. This, in my opinion, is the rarest thing that can turn a failed trader into a successful one. Once you are mentally aligned with what is happening in the market, you are better able to focus and aim in the right direction, and if your Money Management can still insulate you against a possible market turn, so much the better. Good luck and put your ego aside, if you can do that, you can be honest with yourself.
by TraderDominik
6
Edelweiss Fin Services Bullish Scenario Bullish outlook on Edelweiss. This could potentially be a turning point from the weekly chart, resulting in this market shirting into a 'buy program' and seeking high prices. The eye symbol resides above old highs - a place where liquidity would be resting in the form of buy-stops. Think of the sellers who are making money selling short, were would there stops be? Exactly, where old highs reside! Those are our short term targets. Interesting to see what happens.
NSE:EDELWEISSLong
by KnowledgeAndProfits
Crazy Times for Nasdaq what next?Good day great traders it is once more with my greatest delight to be serving you insights on Nasdaq today Now what's been happening with this market Weekly our trend still has been bearish since 27 Dec 2021 Again, we have recently approached the 13000-price level which has a weekly support that has 4 touches holding support since 8 March 2021 so it is a strong support area On the daily we got a close below this support level Tuesday however we did engulf back into this 13000-price support level What does this mean? we are likely starting to range after or great impulse down H4 h1 they do not seem promising to be taking trades on them because we recognize lack of momentum What is the verdict? Wait for the market to break below the 13000-level close successfully there then we should catch further retracements on lower timeframes why are we to sell? the higher timeframe still is bearish and till we maybe push above the 13600-level creating higher lows and new higher lows then have the weekly close above the price too then trends should continue up but for now I will be selling be sure to comment positively till we meet again God bless
FX:NAS100Short
by EHMFO
Stairway to Success Let’s start our day with some good news: if you’re reading this article, you’re already ahead of 90% people and have successfully completed the first stage “Start”, right now and right here. Most of us see success as something chaotic, lucky coincidence per say. Recently, we made an article, where success was depicted as a visible tip of the iceberg, while underneath there were much more to it. What about the road to success? As you would rightfully guess, it’s not quite linear either. Usually, people would show it with arrows: up and down. Indeed, that is the way progress works. However, growth to success on the other hand is an absolute value of that graph. It reminds me more of a staircase. Let’s go over each step on the picture. As mentioned right at the beginning, you’ve already done a major step by opening TradingView and reading this article. Let’s not stop here. Start thinking. What currency pair or stock I want to trade today? Once that’s established move on to your “Analysis”. After performing thorough fundamental/technical analysis, you have a sense of where the trade is going. It’s important to note that this is only a small portion of the way. Success and Failure are not black or white, they’re part of a spectrum. Planning is extremely crucial, as it would determine the level of success/failure. Setting Stop Losses, Take Profits, having a trading plan are part of it. However, what’s the point of all this if you’re too scared to execute? Don’t let FOMO run your life, but plans without execution are just dead ideas. So, TRY and DO. If necessary, do again. Keep on doing until you achieve the result you wanted at the beginning of this staircase. Note from author: when we say keep on doing, it’s implied that this is done in a healthy manner, without the destructive emotions such as revenge. Learn and earn, fellow TradingView members!
BITSTAMP:BTCUSDEducation
by Investroy
8
How To Succeed In Your TradingFocus on one single trading strategy One thing that many people try and do is switch between strategies constantly. This is setting you up for failure, and if the concept of probabilities is truly understood, you will comprehend the reasons why a single strategy will work. Any strategy is not going to have a 100% win rate, so first you should attempt at getting 50% of your trades right. After that mastering a 2:1 Reward to risk ratio is what will make you profitable. Trying to juggle many strategies will have you working tirelessly, but not moving forward in any particular one. Less trading, more education Many people have the conception that spending countless hours in front of the screen looking for potential set ups is how it should be, however that is completely wrong in my eyes. I spend minimal time now looking at charts and set ups, I highlight key levels I want to look at, along with alerts, and simply wait for the market to head there. Time spent looking at charts should be simply for education and mastering your strategy through back testing or simply understanding previous data. Approach the market from a neutral position Anyone that knows me knows how big I am on trading psychology and how I believe it is the most important aspect of trading. Emotions in trading can be one of your greatest enemies as it can lead you to failure even after your success. There are scenarios where you can take trades and be in positive which will lead you to feel over confident, happy, and those will ultimately will lead to irrational decisions if you let them. Those emotions will make you believe you are better than the markets, or that you can outsmart them, ultimately leading your successful trade to turn into a failure. The same can happen when you feel the opposite and lack confidence to enter another trade due to a loss, or think have feelings of doubt. This is why the market needs to be approached by a completely neutral position. Once you understand that for every person on one side of a trade, there is someone on the opposite side, you will begin to understand that the market itself is just a whole bunch of neutral information moving in nobody’s favour. Write your goals Affirmations are great and something that has helped me in every aspect of my life and not just trading. It is very important to write down your goals in order to manifest them into reality. All ideas first begin in the mind, and then come into the physical. Your goals need to be solidified, definite, and written down in order for your mind and yourself to know exactly what you are going after. Every single day, you need to read your goals aloud, envision them in your mind with every bit of detail possible in order to bring them into the physical. In order to achieve a goal you need to arrive at the destination first in your mind. Relax There is no need to rush a single thing in your trading journey, and believe me take it from my experience, every time I tried to, I failed. People attend university for years before going out into a career which then takes many years before mastering it, yet people want to master trading in a year. Patience is required in all aspects of trading, whether it’s on the charts themselves, or with your strategy, or with your learning curve. It all requires patience. If you are going after trading as a serious life career which you aim to remain in, then relaxing and taking your time is the first step. Nothing great comes from rushing it, especially the markets. Know how to handle your trades Based on your strategy and the concept of probability there are a number of things needed in order to appropriately handle your trades. Firstly, don’t touch your stop loss. I cant say this enough, but stop losses are determined as the final barrier before the trade is invalid, and they are determine before entering the trade. If you find yourself moving your stop, ask yourself why. You will find out mostly its out of fear of losing your money, which is one of the 4 fears of trading. Accept your loss and let the trade stop out, you had it there for a reason. Also, don’t leave trades behind out of fear. If you have a strategy that you have confidently developed, you should understand that the overall should be a greater number of winners than losers, and you should not leave trades behind out of fear, because they can be the ones that perform the best and make up for the losers. Another thing to have in place is an appropriate strategy for exiting your trades. Many people have trades that are in profit, however due to the lack of knowledge on how to exit their trades, they still end up not profitable. You need to have a system on how to exit your trades appropriately and at what levels. Always remember, the profit running on a trade is not yours until its closed. Risk management Yes, I know you have heard it and read it a thousand times already, but you have no idea how important risk management is until the day you master it and recognise it was the single greatest thing holding you back from success. People can have amazing strategies, the best reward to risk ratios, but with the inappropriate risk management trust me it means absolutely nothing. I have seen people overleverage on a trade simply because it “looked too good” compared to other trades, only for it to be the worst of the bunch. I have seen people lose tremendous amounts of money and one thing I can promise you is not a single one of these people lost 100 trades in a row at 1% a trade. Every single one of them lost their entire accounts due to ONE trade that they married. Risk management should be one of your main areas of focus, because believe me if you have mastered it, even with an average strategy you are doing much better than someone with an exceptional strategy with no adequate risk management. Keep track of your performance The only way to improve in any aspect of life is to first recognise what needs change and then work on it. It is very important to actually understand your positives and negatives and have them all tracked. A journal is one of the first steps in order to look in the mirror. Being completely honest is the only way a journal will work, and lying is only lying to yourself. If you are after serious improvement you need to appropriately identify all your flaws in order to better them. You should never feel down or behind, remember trading the markets is one of the biggest psychological challenges one can face, and that is exactly why not everyone is suited for them. Instead see it as a challenge to better yourself and achieve the perfection and discipline you have always desired on and off the charts. Trading the markets will teach you lessons that you will carry with you throughout your entire life and not just on the trading floor.
Editors' picks
COINBASE:BTCUSDEducation
by opes_trading_group
332