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Trading Plan

How to win over greed?🎃1. Greed is the problem Many beginners and even experienced traders face greed. It's a feeling that makes you believe in your superiority over the market: • Opening a lot of trades, breaking risk management • Continuing to trade after incurring a loss • Refusing to take profits, hoping to earn more • Averaging losing trades, because everything is about to change. • Believing in the reliability of your pattern, although no pattern or indicator always works out 100%. 2. Why does greed take over? We all have our own desires and goals. Society teaches us that we shouldn't deny ourselves comfort. This leads the vast majority to take out loans for new clothes, iPhones, Cars.. This is how people get used to greed's superiority and put it before discipline, getting accustomed to being able to live beyond their means. What do you think happens to such people when they come into trading? God forbid, such a person immediately learns about futures, then he will lose everything in a month at most. This is exactly the 95% who lose money in the market. They suddenly see an opportunity to make a million out of $10,000 in a month, and, inspired by the stories of dogecoin millionaires from YouTube and Reddit, start to long bitcoin with x125 leverage. There is another type. They do not rush to make money, they act more cautiously. They set themselves up right away that "trading is a long game and there is no hurry". They develop steadily and study pattern after pattern. However, their game pays off very slowly, and under the influence of their expertise they allow themselves more and more "experiments". They are like King Theoden from Lord of the Rings, who was slowly losing his mind under the watchful eye of Wormtongue. 3. How do you get around greed and start using it to your advantage? Change your perspective. Instead of being greedy for money, become greedy for your professional growth . Ironically, if you stop focusing on money, they will come. Create a journal and start analyzing your trades: • What were your reasons for entering? • Did you need to open that trade or was it suboptimal? • Did you act under the influence of emotions, and if so, which one and why? Develop, grow, and reward yourself when you get better, even if your trading results are unchanged. Your brain needs to get used to the fact that the most important thing now is discipline and small improvements. Step by step, you will become a profitable trader and, when you do, withdraw your honestly earned profits into fiat to reward yourself for your fortitude and persistence. You will succeed, because unlike all casino players, you will have the backbone and endurance! Good luck on your journey! If you have any questions, feel free to ask them in the comments, I always check and answer them. Leave a like so you can enjoy the trader psychology posts in the future as well, and thanks for reading to the end. You are the best!
Education
by Artem_Dishel
8
10 Trading Commandments of a Successful Trader 📜 Hey traders, In this post, we will discuss 10 divine rules that every trader must obey: 1️⃣ - Accept that risk and losses are a necessary part of trading. Even though most of the traders are looking for a holy grail, for a system that produces 100% win rate, in fact, losses are inevitable, they are part of the game. No matter how good you are as a trader, occasionally, the market will outsmart you. 2️⃣ - Have a proven trading system. Trade only with a trading strategy that you backtested, that proved its accuracy and efficiency. 3️⃣ - Concentrate on the risk, not the reward. Cut losses, and control your risk. Remember about risk management and never neglect that. 4️⃣ - Never trade without stop loss. Some traders say that they can easily control losses without stop loss. Don't listen to them. Always set a stop loss once you are in a trade. 5️⃣ - Have an attainable target. Setting a stop loss remember to know where to close your trade in profit. Follow strict rules and do not let your greed take you under control. 6️⃣ - Take your emotions under control. No matter whether you are losing, winning, or do not see any trading setups to trade, your emotions will always try to distract you. Be cold-hearted. 7️⃣ - Always stick to your trading plan. Never break your rules, follow your system, and do not deviate. Your trading plan is your only map. 8️⃣ - Limit your losses, never limit your profits. While your gains can be scalable, your risks and losses must be fixed. 9️⃣ - Treat your trading as a business. Trading should be treated with the same discipline as a business. Every business has a solid business plan which entails how the day-to-day running of the business is done, and this also guides the decision-making process. 🔟 - Always journal your trades. Always keep a trading journal. Record your winners and losers, entry reasons, mistakes, failures etc. Revise and learn from your mistakes. Of course, that list can be extended and more commandments and rules can be added. However, these 10 in my view are the most important. Print this list and let it guide you in your trading journey. What would you add to that list? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
9
The basics of back-testing (HOW TO)Hey Traders, Today I wanted to follow on from the fantastic amount of comments that we are receiving from the previous video, "stop strategy jumping." It seems that so many of you took a whole heap of value from that video and for that I am very thankful and to everyone who reached out and told their story or let me know that it really touched them. As highly requested, I wanted to run through a basic way to start getting the grips with strategy back-testing. How can we go about back-testing our strategies to ensure that they are profitable for us in the long run? Take a look, have a listen and tune in. Set up an excel sheet the way I do and get back testing. There's only one way to do this, and it is to do the hard work. Let me know what you guys find. I can go more in depth in the future, but for now. It seems like most people wanted to get to grips with the absolute basics, which is what I'm going to show you today. If you have any questions at all, please the comment section is the place to be. As always, have a fantastic trading week and a fantastic weekend traders. I'll see you very soon.
Education
by the5erstrading
12
MAIN ELEMENTS OF YOUR TRADING PLAN | Trading Basics 📝 Hey traders, One month ago I wrote an article about the importance of a trading plan. Now it is time to discuss what should be inside your trading plan. Before we start let me note that a trading plan is a very personal thing and depending on your personality you may have some other elements. In this article, we discuss key elements that must be in every trading plan. 🔰Trading Strategy. I want you to realize that a trading strategy is not a trading plan. A trading strategy is simply one of its main elements. A trading strategy defines a set of rules and market conditions that one is looking for to open a trade and then manage that. 🔰Trading Time. Relying on your trading strategy you should know exactly when you trade. The time range must be precise and fixed. If you think that today you can trade the opening of the London session, tomorrow the Asian one, and then the US opening, I have very bad news for you. Your trading hours must be fixed and objective. 🔰Trading Instruments. As with your trading time, you should have a fixed trading list. A set of financial instruments that you monitor on a daily basis. 🔰Trading Journal. You should learn to journal your trades. Just a single performance is not enough. You should note the exact market conditions that made you open the trade and many other factors that you consider to be important. Then learn from your mistakes and improve your trading strategy based on your journal. 🔰Risk Management. Having the best trading strategy in the world one can fail simply because of neglecting the rules of risk management. Define your risk per trade, maximum drawdown, and biggest losing streak you can take. Optimize your trading to keep your losses under control. Of course, that list can be extended. We can add, for example, trading psychology into that. As I said, a trading plan is a very personal thing and while you mature in trading it will become more and more sophisticated. The elements that we discussed in this article are crucial for your success in trading. In my view, their absence will lead you to a failure. What do you want to learn in the next article? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
9
LET'S GET REAL: Stop Strategy Jumping!Hey Traders, This one is going to be a little bit different, a little bit deeper and a little bit harder to listen to rather than usual technical analysis. I recommend you sit down and listen to this. Have a think whether it relates to you or whether you found yourself in this position, or even if you've gone through this position and share your experience on how you go through it. A lot of traders struggle with their strategy, jumping from aspects of trading and that's why so many educators out there make a lot of money off of them. It is time to stop. In this video I outlay a challenge that I put to all the traders who may find themselves in this position to sit down and to thoroughly test their current or previous strategies and understand them on a deeper level. No more jumping around, no more looking outwards. Let's start looking inwards. Let's see the data that we have handed to us and what we can do to improve that data. If you enjoyed this video, please leave a comment. Leave a like, if we do get enough likes and comments, I will make a Part 2 on how to go about this with a more depth avenue while using different resources. As always, have a fantastic training week.
Education
by the5erstrading
222
great setup for swing trading on #btc🔥hi there traders all around the world👋 one of the great setups that we can count on it is breaking the trend line and it simple. when a trend line breaks spatially if that trend was a pullback in previous(we had a good bear trend line here) we must wait for price to reach and touch the trend line then we can enter. tip: if price touches 2or 3 times its much better. I hoper you enjoy the lessen I just teaches you, wish you all a great day with good profit. cheers 🥂.
Education
by trader2613
The Dunning–Kruger effectAfter recently doing a review of my last 6 months of trading, I recognized that my portfolio value over this period looked very similar to the Dunning–Kruger effect curve. (a psychological phenomenon that suggests people are not always the best evaluators of their own performance). The theory is often applied to trading because most retail traders experience a similar effect. After spending 3 months of a practice simulator, I deposited real funds into a trading platform. Within the first week I saw a 24% increase which was shortly followed by loosing half my account value in the coming months. I then decided to take two weeks out and reflect on my performance. It was in these two weeks where I stumbled across an article called "5 steps to becoming a trader" (which I have linked to this post). I came to realize that I was completely incompetent. I didn't follow my trading plans, I got caught up in emotions and I was almost gambling money away in the hopes of getting rich quick. The harsh reality is trading is hard. After a total of 9 month, I have only just managed to see a net positive return. I have spent thousands of hours only to be outperformed by an Index fund. One article won't change your performance, but these are some things that I learnt which could get you closer to conscious competence: 1. Don't trade with emotions, trade with your plan 2. Keep your risk/reward >1.75 3. Never risk enough money to loose sleep (enter each trade as if you have already lost the money you placed) 4. Reflect on performance and learn from mistakes 5. You don't need to win lots, you just need a mathematical edge As a trader gains more experience, they become increasingly confident and more likely to see positive returns. Stay dedicated!!!
NASDAQ:AAPLEducation
by UnknownUnicorn32021811
59
Not having a position is also a position - When trading is bad?Every day we start by choosing between long and short. Sometimes you wake up, look at the btc chart - and clearly see your setup. And sometimes you don't see it. But you still saw how many of your friends traded shorts successfully and decide to enter a hostile market. Bottom line: Lost profit, exhausted nerves, stress, a blow to self-esteem. Most traders forget that there is a third option - to stand aside. Let's discuss when such position can be useful and why most people use it so rarely. Pro traders can be split into 2 types: Bulls and bears. They trade for profit only in one direction, because they have a trained eye to see only their kind of setups. When a bull finds himself in a bear market, he either trades in the red or breakeven. The same true for the bear. And yet, even knowing this, the trader continues to trade unfriendly setups. Fueled by success that he carries from his market, he is sure that just a little more, a LITTLE LITTLE more, and he will be able to trade profitably in this market as well. "And if I can trade for profit in both directions, then I will become an absolute terminator and even Warren Buffett himself will personally beg me to share my market forecast with him!" I don’t know if you woke up with such thoughts in the morning, but I definitely had a couple of times. The answer to this phenomenon is GREED (for money or fame). And the easiest way to get rid of such incidents is to write the following rule in your trading algorithm (I hope you have it): • Trading during correction is prohibited. Just one sentence will save you a huge amount of money and help you increase your capital much faster. Instead of losing money trading corrections, it is better to: • Relax and spend part of your honestly earned profit on yourself and your loved ones. • Patiently wait for your market and return to the game. Do this - and trading will bring you much more pleasure, and you will earn even more and enjoy your life! If this article was useful to you, please like and leave a comment so that I understand that it has value to you and will continue to write educational material in the future✌️
Education
by Artem_Dishel
277
How to Read a Candlestick | Beginners Guide 🕯 Hey traders, If you follow me for quite a while you probably noticed that I apply a candlestick chart for the market analysis. In this post, we will discuss how to read an individual candlestick and we will outline its important elements. 🔰The candlestick reflects the price movement for a selected period of time. An hourly candle will show you a price action within an hour and a daily candle within a day. 🔰The candlestick pattern has a very specific shape: it is composed of a body and a wick. The wick of the candle indicates the range of the price action within the candle. Its upper wick will show you the highest price during that time period and its lower wick will show the lowest price, while the body of the candle indicates its opening and closing price. 🔰From the color of the body of the candle, we identify its direction. Green signifies a bullish candle while red signifies a bearish one. 🔰The lower boundary of a body of a bullish candle will show its opening price and its upper boundary its closing price. 🔰The upper boundary of a body of a bearish candle indicates its opening price and its lower boundary its closing price level. With so many elements within a single candlestick, one can derive a lot of valuable information. Some candlesticks have a very specific form and are called candlestick patterns. They are applied for predicted the future market behavior. A proper reading of a candlestick chart may unveil a lot of insights about the market so it is very important for you to learn to work with that. ❤️Please, support this idea with like and comment!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
12
How to lose your deposit quickly? Easy to follow Step-By-Step🔥Why am I qualified enough to teach you this? I lost 16 deposits and in 6 years I heard dozens of stories of people who lost their life savings in a couple of months by trading. I have personally tested many of these rules and confirmed that they work. So what are we waiting for? Lets get it started! 1. Trade with maximum leverage There is no need to trifle, the bigger leverage is, the greater your profit will be🤑 2. Don't use stop losses SL’s are for the weak. You probably remember how many times your positions went in the right direction after you closed them by stop loss. Stop losses are evil🤮 3. Average losing positions Everything is simple here - the more you average, the less you lose. That means you can keep going. Nothing ventured, nothing gained🥂 4. Use your last money and don’t be shy to borrow The more money you put in, the more money you pull out. Since you are 100% sure that BTC will grow, take loans not only in banks, but also from shady organizations, do not look at interest - you will repay everything back in a month anyway, and your profit will cover any losses💵 5. Trade only when you have been fired from work, haven't slept all night, your girlfriend/wife has left, or you have quarreled with relatives When everything is bad in your life, it is better to do what you do best - trading. Having earned a lot of money, you will not only be distracted from everyday problems, but also regain confidence and a smile on your face!😉 6. When you closed a losing position, immediately open a new one with double volume to recoup losses You came into trading to win! So win and never admit defeat! You are Hercules and defeating everyone in the market - this is your 14th feat! No step back, only forward!✊ 7. Prioritize Elon Musk's conspiracy theories and tweets over technical analysis Do you already have the conviction that the Illuminati run the market and every time you open a position and the market goes in the opposite direction, the Illuminati move to harm you? If not, then quickly look at your lost trades. You did everything right, but you still lost money. Why is that? Just don't tell anyone...🤫 8. Believe that trading is luck and the odds are always 50/50 This makes it much easier to make decisions. If black has fallen out on the roulette wheel 2 times in a row, then the chances that red will fall out are much greater. Therefore, do not hesitate to go against the trend, probability theory is on your side 💪 9. Stop exercising your body and mind You will need neither a healthy body nor a focused mind in trading. You only need your eyes to see “buy“ and “sell“ buttons, you don't need much intelligence for this. Being in the green zone? The green zone is a myth for suckers who engage in self-deception.😏 10. Quit your daily job Since you already created an account on Binance a week ago, watched a couple of trading videos, sorry, I meant in-depth educational materials, and even have already made a couple of successful trades, then it's time to finally quit that boring job. The road to millions is open, it remains only to take the last step.🤩 11. Manage your friends money Why getting rich alone? Take your friends and family with you. They will be grateful later.🙌 12. Don't look away from the screen until you've regained every last cent. Winners don't walk away with losses. Make sure your deposit has at least doubled before ending a session.😎 13. Never fix profits. If it has grown a little, then it will grow more. Do you remember how you closed the position when the coin grew by 5-10%, and then it rose another 200%? That’s what I’m talking about. Don't close too early, keep trades for the maximum profit.📈 14. Trade at night If you don't have time, don't give up. There is always an opportunity to earn. Even after a hard day at work.🤜🤛 15. Analyze the market on a 5m timeframe and trade on the 1m. Opportunities are always there - the main thing is to be open to them.🤞 I hope these tips will help you quickly drain your deposit down and return to a normal life. If you liked them or you are already using them, please click Like and leave a comment so that I understand that it is valuable to you and will continue to write educational materials in the future.✌️
Education
by Artem_Dishel
32
The Element of Time - The Most Underrate Technical Analysis ToolMarket timing is an essential tool whether you're a day-trader, portfolio manager and/or long-term investor. I present to you the most underrated technical analysis tool in the space of retail trading. The purpose of this short educational webinar is to open your eyes to something you don't hear about abundantly because it is the most disregarded aspect of trading in my opinion. As an intraday trader, my main focus is on the speculation of "the next daily candle". However, I first analyze and project on "the next weekly candle". Each weekly candle is broken into 5 individual daily candles, and each daily candle is broken down into 3 main market sessions - namely, Asia, London & New York Session. You'll find that my main focus in this lesson is on the day in which you find a lower / upper wick being created on the weekly candle. More often than not, "Tuesday" typically forms the low of a bullish weekly candle, and the high of a bearish weekly candle. Watch the lesson entirely, take notes, but most importantly, let it open up the opportunity for you to exponentially elevate your trading skillset.
Education
by Maroun4x
9
How to analyze any market from scratch #3Hello everyone: Many of you have asked me to continue making more of these analysing from scratch video, so I have prepared another one here for you today. Not only will we refresh the previous 2 educational videos on this topic, I will go into a bit more details on the confirmation on the lower time frames with multiple examples in the chart. Recall from the previous videos I made, when we want to analyze the chart from scratch, we always start: 1. From the higher time frames (HTF) to identify the impulse/correction phases of the market conditions so we can come up with a possible bias and direction of the current price. 2. Once we have a possible direction and bias, then we go down to the lower time frames (LTF) to also identify the impulse/correction phases which will lead to your confirmation and entry. These are simple steps to follow, based on multi-time frame analysis, top down approach. Many have told me it's not hard to identify the HTF’s impulse and correction, but what can be classified as a LTF confirmation before entry? Let's take a detail look into a few examples: A LTF confirmation is when the price is developing a few more price action structures/patterns that align with your HTF direction and bias. These can be continuation/reversal corrections on the LTF; impulse phases on the LTF that go with your bias on the HTF; multiple corrections within the larger corrections (patterns within patterns)...etc. The more of these LTF price actions you can identify, the more it strengthens your analysis and forecast on the HTF. Thank you Do check out my previous educational contents on this same topic to better learn my approach to analyse any market from scratch. How to analyze any market from scratch #1 How to analyze any market from scratch #2
Education
by jojofang0901
18
Trading in Books vs Trading in RealityWhat we study in the books is always different from what we have in real life. For example, French language that people learn and exercise in textbooks is slightly different from the French that we speak in France, as we tend towards using informal language and slang phrases. Same rule applies to trading, as the market is not 100% accurate with what we have in the books that educate us on trading. What we have in the books is absolutely crucial to learn the basics and even more. However, while applying the learned theorem in practice, in our case in the real-life markets, we notice that things are different. Thus, it is important to combine these two elements (on and off the market education) to master the craft. Furthermore, beauty always lies within simplicity. What's written and illustrated in the books, is the most understandable language of trading. Hence, the expression "textbook stuff" exists. The more experience you gain in this field, the more you will realise that it is crucial to keep things super simplistic if we want to have a crystal clear vision of the market.
BITSTAMP:BTCUSDEducation
by Investroy
21
The Market is NOT the EconomyGood day, Traders! This week I came across the following headline from a major newspaper: "Stocks Suffer Worst Quarter in 2 Years Amid War, Inflation." It was a surprise to me, because, the majority of the traders that I know didn't miss a beat... March was a great month for trading, just as February was a great month, and so was January! Why is that?  Simply put, the Market is NOT the Economy . It doesn't matter is there is a pandemic, it doesn't matter if there is a recession, it doesn't matter if there is a war, it doesn't matter if the tech oligarchs are censoring free speech, it doesn't matter who slaps who at some celebrity event. The market is composed of people , groups , and institutions trading products in a market whose prices are governed by Supply and Demand .  Oil is at all time highs? Doesn't matter to us traders because we'll find opportunities to both buy and sell based on price action. "The Euro is losing value?" they say? Again it doesn't matter to us traders because we will find opportunities to go both long and short when our system tells us to do so. Should you Short the DOW because you think American Industrial companies are going to suffer the repercussions of the last 2 years of lockdowns? Again, it just doesn't matter to the experienced Trader - when the opportunity to go long or short presents itself, just like that proverbial fork in the road, we take it!  "But Captain, you Magnificent Maven of Market Manipulation" you say, "It's impossible to predict market movement. I might as well visit my local casino and go all in on Red on the Roulette Wheel!" That's what the so-called "experts" want us all to think - Give the "experts" your money and you will be taken care of in your retirement, right? How many professionally managed funds routinely beat the market? According to the New York Times, ZERO. According to a recent report by Business Insider, 90% of actively managed funds failed to beat the market.  If these Ivy League "professionals" spending their entire day trying to beat the market consistently FAIL, Why is it that consistently profitable traders succeed? Because we traders are following those who MOVE the market.  When we traders follow a system that works , and we then develop the ability to "work the system" we get to do what very few people get to do: consistently generate reliable income in the market regardless of economic conditions, regardless of who is in the White House, regardless of what society tells you can or cannot do based on your age, race, or economic status... that's the beauty of being a trader... Freedom. Until we meet again, Trade well!
EASYMARKETS:DOWUSDEducation
by ocaptain
2
The Most Underrated Technical Analysis Tool - Element of Time !Market timing is an essential tool whether you're a day-trader, portfolio manager and/or long-term investor. I present to you the most underrated technical analysis tool in the space of retail trading. The purpose of this short educational webinar is to open your eyes to something you don't hear about abundantly because it is the most disregarded aspect of trading in my opinion. As an intraday trader, my main focus is on the speculation of "the next daily candle". However, I first analyze and project on "the next weekly candle". Each weekly candle is broken into 5 individual daily candles, and each daily candle is broken down into 3 main market sessions - namely, Asia, London & New York Session. You'll find that my main focus in this lesson is on the day in which you find a lower / upper wick being created on the weekly candle. More often than not, "Tuesday" typically forms the low of a bullish weekly candle, and the high of a bearish weekly candle. I encourage you to mark out the Open of your week, and highlight the swing point on the Tuesday of each week. I promise, you'll start implementing the "Element of Time" in your trading toolbox. Of course this is not a standalone tool, however is helps greatly with the determination of your weekly directional bias. It will also assist with your trade and risk management. It is to up to you to put the work in and infer whatever information you can from this little teaser of an illustration. Let this open up the opportunity for you to exponentially elevate your trading skillset.
Education
by Maroun4x
9
The Iceberg Illusion of Success in Trading 🏔️ When people see a consistently profitable trader they do not consider all the costs a successful trader has paid overtime (below the surface) to get to what they see (above the surface). So many things happen below the surface that nobody can see. Here are some of the below the surface things that compose the top of the iceberg that everyone sees: 🔰Dedication – you need to be loyal to your dream of becoming a pro trader. Your belief must be that strong so no one could dissuade you. You need an iron discipline to make it happen. 🔰Hard work – you should work day after day not letting yourself give up. Charts must be in front of you as much as it is possible. Trading terminal must become your best friend. 🔰Good habits – follow your trading plan, do not break your rules of risk management, avoid FOMO, etc. This is the set of habits that will be your satellite in your trading journey. Do them consistently and they will become a natural part of your life. 🔰Disappointment – it does not matter how hard you try. Occasionally things will fall apart anyway: you will face losing streaks and a strategy will refuse to work. It will hurt. "Stand up straight with your shoulders back". Treat disappointments as temporary things. 🔰Sacrifice – to become a consistently profitable trader you should pay the price. Losses, time, nerves. Your prosperous future will have a tremendous cost. 🔰Failure – while you are learning how to trade you will inevitably blow a couple of trading accounts, you will spend time on strategies and techniques that do not work. Occasionally you will fall. If so, stand up and keep going. 🔰Persistence – keep doing what you are doing no matter what. Do not let others persuade you that you can't make it. Even if things get tough, stay strong. 🔰Focus – always know what is your end goal, know where are you going, and what is your end destination. 🔰Flexibility – be prepared for sudden changes in the environment. Keep your focus on the goals that you set learning to adjust to the changing circumstances. 🔰Consistency – you will not get the desired results immediately. Be ready to do the same again and again, hundred times until the goal is achieved. Overnight success does not exist. If you want to become a consistently profitable trade be prepared for years of struggling and pain. And do not be afraid, it is worth it. ❤️Please, support this idea with like and comment!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
15
PRICE ACTION TRADING | INVERTED HEAD & SHOULDERS PATTERN 🔰 Hey traders, Inverted head and shoulders pattern is a classic reversal pattern. It signifies the weakness of buyers in a bearish trend and a bullish accumulation. ⭐️The pattern has a very peculiar price action structure: Trading in a bearish trend the price sets a lower low and retraces setting a lower high (left shoulder), then the market goes lower setting a new low but instead of setting a new lower high, the price returns back to the level of a previous lower high setting an equal high (head). After that bears start pushing again but with an amplifying bullish pressure, the market sets a higher low and returns back to equal highs setting a new one (right shoulder). 🔔Equal highs form a horizontal structure called a neckline. Once the pattern is formed it is still not a trend reversal predictor though. The trigger that is applied to confirm a trend reversal is a bullish breakout of a neckline of the pattern. 📈Then a long position can be opened. For conservative trading, a retest entry is suggested. Safest stop is lying at least below the right shoulder. However, in case the heights of the right shoulder and head are almost equal it is highly recommendable to set a stop loss below the head level. 🎯For targets look for the closest strong structure resistances. What pattern do you want to learn in the next post? ❤️Please, support this idea with like and comment!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
7
How to continue in trading during uncertainty timeHello traders: Recently I received many messages from traders about taking many losses during this uncertain time. What's going on globally right now may have a different impact on all the different markets. Many have told me of your frustration, stress, and negative emotion on losing money and continue to feel defeated. Today I will explain a few things that you can implement into your current trading plan, approach and perspective during this period of time. First, you must acknowledge risk management. Too many traders ignore this key important aspect of trading. Especially during this time where the market can be volatile and irregular. It's in your best interest to understand how to manage your risk. You should have a plan that lists out how your approach would be. For example for my risk management right now: -1% per trade of account capital. -No more than 1 trade on the same currency, unless the first trade is secure in profit. -No more than 2 trades open during a day, max drawdown 2% per day -10-15 trades per month -3 trades maximum per week -Minimum 3:1 RR allow before entry -Will Take profit on average when in profit 3:1 RR. Second, learn to control your mindset and emotions. More often when traders approach me these days, they are telling me they are taking too many trades, chasing profits and revenge trading their losses. All these arise from the mistakes of FOMO, get rich quick mindset, enter multiple trades. IF a trader can truly understand the fact that the market will always be there tomorrow, next week, next month..etc, then it's an easier thing to deal with on a psychological level. You will no longer stress about trying to enter too many trades, worry that the market may not be available tomorrow. Third, less social media exposure. In today’s world, unfortunately in trading, most of the things you see on social media are fabricated and fake. Their sole purpose is to sell you a dream, lifestyle, and easy money concept. ITs always during this uncertain time, you will see more and more of these “gurus” who will show you how much $ they made during this time. Now, I am not saying all are fake or scam, I am sure small # of them are doing well. But, most of the things you will see in your social media feed, are likely to be photoshopped, faked, fabricated to make you believe whatever you are doing is wrong, and you tend to “compare” your result with these people. This ended up becoming very negative and stressful to continue. ITs important to understand trading is one of the toughest professions out there. IT requires so much emotion control, clear mindset, and proper psychology on a regular basis. If you are struggling, it's usually not to do with your trading strategy, but rather your approach, perspective, and perception. So, eliminate as many unrealistic things you might see, and focus on yourself and your journey. Any questions, comments or feedback welcome to let me know. Thank you
Education
by jojofang0901
38
Why Do You Need a Trading Plan?📝 If you want to become a consistently profitable trader you have two choices: 1️⃣strictly follow your trading plan or 2️⃣fail. Trading plan is essential for achieving your financial goals. It is a set of actions to follow for making trading decisions guiding you on how to react to certain events. It reflects your personality and characteristics. Moreover, its entire structure and content are primarily based on them. Your way to success will be full of obstacles. A lot of things will come in your way: losses, drawdowns, and losing streaks; mistakes, scams, and emotional decisions. Only your trading plan will show you a correct path, it ensures you will stay on track on your journey to your desired destination. When you make a wrong turn, it knows to make adjustments, and it points you back in the right direction. It is your guard from making any hurried decisions you could later regret. Trading without a trading plan wouldn’t be a smart idea. You wouldn’t know how to get to your destination and it’s highly likely that you get lost. Most importantly, if you suck at trading (and you certainly will in the beginning), you will know it is down to one of only two reasons: either there’s a problem in your trading plan or you are not sticking to your trading plan. Stick to your plan traders. "If you fail to plan, you plan to fail". ❤️Please, support this idea with like and comment!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
23
How to trade by using EMA Ribbon ?Hello traders 🐺 . this is an educational idea and it's about the EMA Ribbon . In this idea I want to talk about how to using EMA Ribbon in trading so make sure to read this idea until to the end if you are one of the Moving averages fans . I like to start with an example of trading by using the EMA Ribbon , then I explain more about the EMA Ribbon and how it's work : in the chart above we have 3 different examples of trading by using the EMA Ribbon ; as you can see in the chart above , we have 3 different pattern and the last one which is the symmetrical triangle is actually the current pattern of the BTC and I want to ask you about your prediction for it so leaves your comments below this idea and share your view about the BTC , after learning of how we can trade or in the other words how we can use the EMA Ribbon in our trading . let's start with the ( first example ) : my first example is rising wedge pattern , I try to cover all 3 types of the market conditions in this idea , because it's important to learn to trade in the any direction ; the first example is a bearish pattern : As you can see in the chart above , BTC price after creating the rising wedge pattern started a very long down trend , by how we can trade it ? if you look at the chart you will notify that the every line of the EMA Ribbon acts as a support or a resistance and the more deeps price can penetrate to the Ribbon , the chance of the reversal is higher . For example , look at the rising wedge , during the pattern when the EMA Ribbon was in the bullish mode or in the other word , when short term EMA is above the long term EMA , when price finally success to penetrate to the last line of the EMAs which is the long term EMA ; price was faced to the more stronger support and this is shows us that if price can break below the all of the EMAs , there is strong chance for the changing the trend . but finally when price break below the Ribbon , BTC was started a very long term bear trend , if you are a trader you must know that this bearish pattern after the very long bullish trend could indicate the bear market signs , and if you want to use EMA Ribbon for trading this is good chance , so let's see how we can use it ? first of all when price break below the EMA Ribbon you must wait for the confirmation signs , this is means that you must wait for the EMA Ribbon to flip from bullish to the bearish mode which means that the short term EMAs goes below the long term EMAs , and after the retest of the Ribbon you can say that , thing are looking bearish from the EMA Ribbon sight ; and you can set your short trade based on your trading strategy . but what's the problem of the EMA Ribbon ? let's talk about the EMA Ribbons problem after checking all of the examples , until that please think about it and imagine how we can fix this problem if you find out the problem , if you can't , wait for the end of this idea and also don't forgot to support me with your likes and comments . let's combine the example 2 and 3 together for better understanding : as you might know , the moving averages are trend chaser indicator which means that they are work perfectly when market have a specific trend , for example in the chart above when BTC created a falling wedge pattern and break above the EMA Ribbon and retest it as a new support start a bullish trend , and as you can see when market started to retracement , BTC created a bull flag pattern and after the break out BTC continue the bullish trend . in the bull flag , you can see that price break below the EMA Ribbon and also retest it as a resistance , but price can't continue the bearish trend ; so why this happen ? did you remember that in the example one , I asked you about the EMA Ribbon , could you find the problem yet or not ? if you can't find it wait for the end 🙄🤷‍♀️ . now we arrive to the last example which is the symmetrical triangle , but I gonna talk about it in the next idea because this is an educational idea and not for the analysis purpose , so make sure to follow me to find out what gonna happen for the BTC in the next coming weeks . now it's time to show you the EMA Ribbons advantages and problem in one clear picture : Did you remember that in the example 3 (bull flag) I said that the EMA Ribbon flipped to the bearish and also the price retest it as a resistance but price didn't break below again and after that BTC was breaked to the upside , this is what I mention the reason in the problem number 3 : 3_Moving average ribbons are best used in conjunction with other forms of analysis, such as price action, other technical indicators, and fundamental analysis for longer-term traders. you must know that it's better to use EMA Ribbon in conjunction with other indicators for example , personally like to use it in conjunction by the RSI and TSI and also the price actions . in the example number 3 , the overall trend is still bullish and price is above the support structure and also it's on the bullish pattern , so there is strong chance for goes above the Ribbon again . now it's seems to we reach to the end of the idea and I must appreciate you my friends to read my idea , don't forgot to leaves your idea about this symmetrical triangle and help me with your likes and comments ; thank you for reading my idea .
BITSTAMP:BTCUSDEducation
by Kiu_Coin
2
Price Pressure Zones :Bearish & BullishTrade Plan: Locate Buying and selling pressure zones implied by the lower and upper shadows/wicks of candlestick price bars. These areas have THREE rejection shadows or wicks in a relatively close area or time period. These pressure zones can be done on 15 minute time frames, but 1 hour, 4 hour or daily charts are stronger and more reliable. Look at attached chart ( do you see numbers 1, 2 and 3? rejection lower shadows or wicks)- this suggest future bullish or buying trading. * Buy next 1 hour candlestick bar (blue on chart) after the three rejection lower shadows or wicks, with right risk management under your strategy and plan. Pro Tip: A strong pressure zone is not defined just by one pin bar!!! These need a minimum of three rejection shadows and/or wicks, which make these zones ones which the big money or big banks have a wall up that they do not want price action to go thru at this time. Never fight big money/banks- trade with them. Bullish Pressure Zones- Multiple price bars with lower wicks Bearish Pressure Zones- Multiple price bars with higher wicks Common Mistake: The buying or selling pressure found on a single price bar might not be sufficiently reliable for a trading setup. Instead of a single bar, look for at least three consecutive bars with overlapping upper or lower shadows. When multiple shadows overlap the create a price zone that is more likely to exhibit the buying or selling pressure you anticipate.
Education
by Anbat
1
How To Trade Divergence Divergence simply means separation.. When two similar things things---get separated and start going different directions, you have to consider which direction to follow. That's exactly the concept of divergence. When trading, and you spot a divergence, you want to be sure to understand what they are trying to tell you. In this video, I explain the concept of divergences, how to trade them and what to do when you sight one. Be sure to like, follow and comment. I want to see those div trades!
OANDA:NAS100USDEducation
by lazyluchi