Get started

Trading Psychology

Learn What is Confirmation Bias | Trading Psychology 🧠 In this educational article, we will discuss one of the most common cognitive errors of newbie traders - a confirmation bias. In order to better understand that term, I want to start with the example: Let's say that after doing some research, you are highly convinced that Bitcoin is bullish and that it is a decent investment. You decide to buy that from 50.000 level, expecting the exponential growth. Instead of growing, however, the market starts falling rapidly. Rather than closing your position in loss, you decide to do a new research and execute the analysis, you start looking for the proof of your pre-existing beliefs. You completely neglect the voices of Bitcoin sceptics and ignore bearish clues on the price chart. You consider only the facts that support a bullish outlook, not letting you accept the other point of view. You become a victim of a confirmation bias. Unfortunately, such a psychological trap frequently prevents a closing of a trading position in time, leading to substantial losses. Confirmation bias is a common psychological error that makes a subject overvalue the information that upholds his existing beliefs and undervalue the opposing one. Here are the most common symptoms of that trap: 1️⃣One is neglecting the objective facts. 2️⃣One is interpreting information in a way to support the existing beliefs. 3️⃣One is considering only the facts that conform with his point of view. 4️⃣One is completely ignoring the information that challenges his beliefs. The only way to beat a confirmation bias in trading, is to learn to analyze the market from sellers' and from buyers' perspective. Your task is to compare the view of the 2 sides, and pick the one that is stronger, holding in mind the fact that everything can change. You should always remember of the changing nature of financial markets and be ready to always reassess your views. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
13
10 Rules of Risk Management Risk management is the most important aspect of any trading plan. Apart from the mathematical and strategic methodologies to employ, there are several precautions you can adopt as a trader and consider in your decision-making process. Never risk more than you can afford to lose. Never forget Rule no.1. Stick to your trading plan. Consider the costs like spread, rollover/swap and commissions. Limit your margin use and track available margin to avoid margin calls. Always use Take Profit and Stop Loss orders. Never leave open positions unattended. Record your performance and adjust as you progress. Avoid high volatility periods like economic news releases. Avoid making emotional decisions when trading. We apply risk management to minimise losses if the market tide turns against us after an event. Although the temptation of realising every opportunity is there for all traders, we must know the risks of an investment in advance to ensure we can endure if things go sour. All successful traders know and accept that trading is a complex process and an extensive risk management strategy and trading plan allow us to have a sustainable income source. ❤️Please, support our work with like & comment!❤️ What do you want to learn in the next post?
TVC:GOLDEducation
by UnitedSignals
5
How to succeed on the marketThere are so many opportunities in a single pair that one can maximise. The secret is to choose one or two pairs and maximize them. You are not going to miss out on anything. Many traders are psychologically affected by the following: 1. Fear of Missing Out (FOMO). Many think if I focus on only one pair I will miss out on the opportunities from other pairs. No, you won't because in one single pair if you are an intraday trader there are so many opportunities to capitalize on. FOMO cause traders to traders to jump into the markets too early and too late for the fear that they will miss out on an opportunity. There is no single opportunity in the market that will make you rich and opportunities are never going to end. Before you started out in forex trading you had missed out on so many opportunities. Remember forex did not start when you started and will not end when you stop trading. Before you were born forex was already there which means opportunities were there. So missing one opportunity today should not make you lose your mind and be hard on yourself. Think of opportunities like public buses. When you reach the bus station and find that the bus has left, do you start cursing yourself and being hard on yourself? The answer is no! You simply relax and wait for the next one. If the next one doesn't please you, you still wait for the next one. The same way you never feel bad when you miss one bus is the same way you should feel one you miss one trade. Don't feel bad. Know that another opportunity will come your way. We have been raised with the faulty thinking that money doesn't grow on trees. That's a belief so deep that when we get into the market, we want to make all the money in one trade. Our faulty thinking whispers to us that there may never be another opportunity like this so we tend to become careless and leverage. 90% of trading is psychological and only 10% is technical. Once you understand that you are dealing with a market with abundant opportunities to make you rich you will trade stress-free. Even if you take a loss, you will not take it personally knowing that as long as am using good risk management, another opportunity will come my way and I will recover my loss. Don't go into revenge trading because of one loss. Losses are part of the game. Learn to live with them and love them the same way you love take profit. Here is the truth, Losses are under your control, and profits are not. If you take care of the losses the market will take care of the profits. Causes of FOMO 1. Lack of a trading plan 2. Lack of trading discipline 3. Information overload 4. Social media influence 5. Having a scarcity mentality
Education
by EruditesAcademy
📖STOIC TRADING📖Stoic trading. I bet stoics didn't trade, but they knew a lot about life in general. I suggest to cultivate stoic mindset in regards to trading, and negative expectation and negative visualization in particular. You can talk about it with ChatGPT and explore yourself, but here let me explain a bit. So, instead of doing exactly what everyone else does - that is to expect your next trade to deliver big time, or to dream about a big runner, or huge profits in a day or a week, or to trade back all your recent losses with one overrisked entry - try to do something that's completely different. And by the way, that's a great overall approach to trading: find what doesn't work, and do the opposite (that's one of the main principles discussed widely by great Tom Dante). To do this, when you come to the market, visualize and expect nothing🙀. Literally tell yourself this: 1️⃣..I showed up to the charts just to observe and analyze them (by the way, did you know that speculation, from latin "specio", means observation, with no judgement) 2️⃣..I expect my setup to NOT show up today, and so today I'm not expecting any trades to have In case you'll find your setup, continue to keep the following negative mindset: 3️⃣..I followed my rules and entered a good setup, and I will follow my management rules, but right now I expect this trade to just end up as a loser If you were able to protect at breakeven later, expect it to hit your breakeven and not your take profit. For beginners, this all can sound stupid, even somewhat like a paradox🙄, but that's only because they don't understand how trading works. And trading really works in a way, that having LESS trades brings you MORE profit. Even if you're trading 1 sec. chart, and I'm not joking here. This mindset practice I described above allows you to protect your emotional capital and also enter setups with a better quality. I will talk more about this and also why so called "overtrading" is actually pure gambling, and how it destroys people's accounts in the next post. Have a good day everyone, and keep the grind, even if there's no one to appreciate or believe in you! P.S. I appreciate you and believe you will eventually do it and become consistent and profitable trader. 🙌
BITSTAMP:BTCUSDEducation
by Yelli_trades
11
How to achieve quick profits through short-term trading?Many friends enjoy short-term trading, mostly due to the short holding time, quick results, and the thrill of the process. However, short-term trading is the most challenging among all trading methods and requires careful consideration. Today, I will share my early experience of short-term trading with you. Specific methods and strategies will be provided in the later part of this article, which are closely related to practical applications and, I believe, will be helpful for you. The article is quite lengthy. If you find it helpful, please give it a thumbs-up at the end of the article. Thank you. Advantages and disadvantages of short-term trading Short-term trading does not have a strict definition standard. When the market moves quickly, positions can be closed within a day, but if the market moves slowly, it may take two or three days to close the position, all of which belong to short-term trading. On charts, I usually consider trades at the 5-minute, 15-minute, and even 1-hour level as short-term trades. The advantages of short-term trading are: (1) Short holding time and quick results. People are naturally curious about the unknown and want to know the results quickly. Short-term trading fits human nature, making it easier to control emotions. (2) High trading frequency, providing a thrilling experience. Many traders are restless and want to trade multiple times a day, short-term trading meets this human need. (3) The decay cycle of the short-term trading system is short, and the distribution of trading results is more evenly distributed, making it easier to execute. Sometimes, even with a losing streak of 5 times, the long-term trading strategy may take over a month to recover, while the short-term trading strategy may only take two or three days. Thus, short-term trading is less torturous to human psychology during a losing streak. Disadvantages of short-term trading: (1) High trading frequency requires more time and energy and is not suitable for part-time traders. (2) Frequent trading generates high trading costs. Therefore, short-term traders need to pay attention to their commission fees. I have seen many futures traders who have had their accounts charged two or three times, or even ten times, the commission fees. How can they make a profit like this? (3) Requires higher professionalism and attention to trading details. Short-term trading is more sensitive to changes in the market. Sometimes, when the market changes, you don't have much time to think and must act decisively. People with more procrastinating personalities are not suitable for short-term trading. Additionally, the margin of error for short-term trading is relatively low. Long-term trades do not require very precise entry points, and being off by 5 or 10 points does not have a significant impact on the overall trade. However, in short-term trading, being off by 5 or 10 points can be the difference between profit and loss. Therefore, short-term trading is a delicate operation, and all trading details must be clear and easy to execute. Short-term traders also need to possess qualities such as attention to detail, boldness, calmness, and decisiveness. So, how can you quickly profit from short-term trading? Next, I will share two strategies. 2.Plan One: Choosing Volatile Markets with Large Amplitude for Short-term Trading As a short-term trader, we only need to capture a small segment of market volatility, and it doesn't have to be the overall trend, as long as the market volatility is fast and the amplitude is large. The faster the market volatility and the larger the amplitude, the easier it is to make profits. For the same 100-point profit, it may take only one day to achieve it when the volatility is fast and the amplitude is large, while it may take several days to achieve it when the volatility is slow and the amplitude is small, resulting in a much lower trading efficiency and different challenges to our mentality. Therefore, the amplitude of the product is the key to making profits in short-term trading. We need to selectively engage in short-term trading and not try to swallow all profits. There are two specific strategies to consider. Strategy One: Directly select high amplitude products for short-term trading. Different products have their own characteristics when operating in the market. Some products have fast volatility and large amplitude, while others have slow volatility and small amplitude. Before engaging in short-term trading, we must select the most suitable products. For example, in the same breakout trading opportunity, products with high volatility and larger amplitude can achieve greater profits more quickly. As traders, we all understand that the faster we can lock in profits, the more confident we feel. Therefore, selecting the right products makes short-term trading easier. Moreover, if you choose a slow-moving product, your holding time will be longer, and your position may be occupied, which will reduce the utilization rate of your funds and affect the final profit. Short-term trading is about paying attention to details and maintaining a strong mindset, as even the smallest details can determine your success or failure. Therefore, do not be careless. FXOPEN:XAUUSD FOREXCOM:EURUSD
Education
by Ice_and_Fire1
5
What is the golden stop-loss rule? For trades such as stocks, futures, or forex, stop loss is a part of the trade, and it only works for investors if there is a stop loss in each transaction and it is adhered to. Today, I bring you a 3:1 gold stop loss rule, hoping to help with your investments. Stop loss is a way to minimize losses in current market trades and is frequently mentioned. However, the essence of stop loss is not just setting a stop loss price. In particular, in markets such as forex and futures where long and short positions can be taken, too many stop losses will undoubtedly cause significant loss of capital. Market leaders use people's fear to cause repeated shocks, even unilateral rises or falls to trigger short-term traders' stop loss prices, and then quickly retract. The normal daily volatility of the stock market is also around 5%, so if your stop loss is set at 5%, won't it often be hit? This requires attention to two issues: first, judging the trend of the market, whether it is a volatile market or a clear trend market; second, setting a reasonable stop loss position. First of all, it's important to understand that the most notable characteristic of the trading market is volatility, and most of the time it's in a volatile trend, regardless of whether it's in a larger time frame or a shorter time frame. Therefore, the investment strategy for a volatile market should be the preferred strategy for short-term traders. Secondly, identifying the range of volatility is crucial. Find the highest and lowest prices in recent price fluctuations. After a sharp rise or fall in the market, a corrective wave will form between these highest and lowest prices, sometimes lasting a long time. For example, commonly seen patterns such as triangle consolidation or box consolidation require a longer period of time before forming a new breakthrough. As for what prices to choose as the range, it depends on your trading period, whether it's daily, weekly, 60-minute, or even minute-by-minute. By using price analysis to determine the operational cycle, you will find a clear pattern of fluctuation range. The stop-loss price for such fluctuations should be set outside the highest or lowest points, and smaller stop-loss or trailing stop-loss should not be used. When the price breaks through the highest point, it is necessary to observe its sustainability. In most cases, it will return to the range-bound area again. However, if the sustainability is strong, it continuously sets new highs, and trading volume continues to increase, a new trend can be determined, and the stop-loss can be changed to a trailing stop. Its price should be set at a price that falls more than one time period beyond the highest or lowest price, and there is no new high or low in three consecutive time periods. At this time, it can be judged that the trend has stopped and entered a range-bound market. For example, if the time period is a 5-minute candlestick chart, then the trailing stop should be set at a price formed by a relatively large 5-minute candlestick chart. But generally, it should not exceed two candlestick chart prices, because beyond this price, the profit left is often very small. The 3:1 golden stop-loss rule in trading skills means that the profit of the take-profit point is three times the loss of the stop-loss point. For example, if you buy a stock and it falls by 7% or 8%, you should close your position in a timely manner. When your stock rises by 20% to 25%, you should consider selling some of it, and not be greedy and wait for it to rise further. Of course, the percentage values here can be changed according to the market situation, but the ratio should always be maintained at 3:1. Some investors may have doubts, what if I set a stop loss at 8% and then the stock rises significantly, even by more than 50%, after I sell it? It seems like a big mistake to sell it, and many investors may no longer believe in the 3:1 rule. Actually, the reason why we set a stop loss at 8% is to prevent it from falling by 10%, 20%, 25%, 40% or even more. You can think of it as a small insurance premium to ensure that an 8% loss doesn't turn into a 60% loss. Isn't it easier to handle that way? For most investors, an 8% loss is manageable, but a 60% loss is a burden that many cannot afford. In the market, human weaknesses will be reflected. When you hold a stock that falls, you will lose some capital, and you will fear that it will continue to fall, rather than hoping it will rebound to make up for previous losses. As a defensive measure, trading systems should still follow the 3:1 rule for stop losses. Finally, I wish everyone a happy investment journey.
TVC:GOLDEducation
by Ice_and_Fire1
3
How to resolve being trapped in gold position. Given that no matter what market conditions may be, there will always be friends who find themselves trapped in a position, here are several methods for unlocking these positions: Long-term unlocking: If an investor has a clear view of the big trend (such as a bullish market), and their position is trapped in a small trend (a dip in the market), they can first stop the loss and close out the position. Then, they can enter the market again at a lower price to earn the price difference and obtain the profit from the big trend while reducing the risk of being liquidated by the small trend. Short-term unlocking: If the investor's judgment of the market is completely wrong, they should close out the position promptly to avoid suffering greater losses from the continuing one-sided trend. The longer a short-term investor holds a position in a one-sided market, the greater the loss. Light position unlocking (also suitable for large fund investors): It means adding more long positions as the market falls, using idle funds to lower the average cost, and waiting for the price to rebound. The advantage is that as long as the operation is correct, unlocking is possible as soon as there is a rebound, regardless of how deeply the position is trapped. Swing unlocking: This method is suitable for being trapped in various market stages, especially in volatile markets. It relies on the fluctuation of stock prices to unlock the position by using the price difference between high and low prices. The idea is to buy low and sell high, gradually reduce the cost, and minimize losses. The advantage is that the operation techniques are diverse and flexible, and can be adapted to different situations. If operated correctly, the unlocking speed is fast. The disadvantage is that it requires a high demand for personal time, energy, and skills, and frequent operations have a certain cost pressure. It requires professional guidance from those who have time, energy, and technical knowledge. Tips for trading gold: 1.Entry point: The entry point is crucial. Although gold and crude oil trading involve two modes, long and short, there are actually four modes: low long, low short, high long, and high short. In a one-sided trend, all four modes are feasible. However, in a volatile market, it is essential to avoid low short and high long positions. These positions are akin to chasing rising and falling markets, which often leads to losses. 2.Stop loss: Before placing a trade, determine the stop loss price and ensure it is reasonable. Immediately input the stop loss price after placing the order. The purpose of stop loss is to limit losses. Only by limiting small losses can you preserve your capital. Sometimes you need to let go to gain something. Do not assume that if you lose this time, you cannot earn it back. Manage investment risks carefully. 3.Position sizing: How you allocate your funds affects your ability to tolerate risks. Oversized positions or full positions can lead to increased losses and psychological pressure. Often, you cannot analyze market trends carefully, which can result in mistakes. 4.Take profit: Many traders struggle to take profit, causing profitable trades to turn into losses. In a one-sided trend, the push stop-loss method can be used to increase profit margins. Taking profit requires personal consideration of exit points. Not every trade needs to yield thousands or millions of dollars. Sometimes, in a volatile market, a profit of a few hundred dollars can accumulate over time. 5.Mindset: This is the most critical point and one that every investor must master. When you enter the market, it is undeniable that everyone is here to make money. However, your mindset determines how far you will go on the investment journey. The goal is to prefer small gains over losses, not to think about making more or less profit. Opportunities require us to seek them out ourselves. The moment you read this article, you have already been given an opportunity. Everyone in life experiences setbacks and failures, but the difference lies in our mindset when faced with adversity. Some people always regard setbacks as failures, which can undermine the courage to succeed. In investing, the key is to be on the right path and have the right direction. "A calm sea never made a skilled sailor," and there is no stable market environment. The purpose of investing is to make money! A clear mind is more important than a clever mind in this market. A good habit is more practical than a skilled technique. Perseverance is long-lasting, and authenticity is eternal. This is true of anything we do. I hope my article can bring you benefits and smooth sailing on your investment journey. May my investment experience benefit investors, and with you and me, an ordinary person plus an ordinary person, may we have an extraordinary investment experience and insights. Be meticulous in life and ordinary in your work. May your investment journey be smooth sailing. If my article is helpful to you, please remember to like it. If you have other questions during your operations, you can follow my homepage↓↓↓ to conveniently get the information in the first time. FXOPEN:XAUUSD TVC:GOLD COMEX:GC1!
FXOPEN:XAUUSDEducation
by Ice_and_Fire1
1
Ways to achieve greater profits It's not necessary to use heavy positions or hold onto trades in order to achieve greater profits. I want to emphasize the dangers of these two approaches again. Heavy positions - the most direct manifestation of this in the market is that even if you are in a relatively good position, once you are stopped out, the heavy position can lead to significant losses. Of course, it must be acknowledged that if you can correctly predict the direction, it can also bring significant returns. However, when weighing the two approaches, preserving capital should always be the first principle. Holding onto trades is even riskier. Once you encounter a one-way market, if you keep adding to your position, the result will be huge losses or even blowing up your account. Therefore, both approaches are not advisable. The correct approach is twofold. First, operate in markets with larger formations, using staged profit-taking and setting trailing stops to take advantage of greater market space with zero risk. By holding for the long term, you can maximize profits. Second, as the market continues to move, add to your position appropriately in situations where you already have profits, and then set stop-loss orders to protect your capital. For example, if you sell at the upper bound and the market later falls below the lower bound, the entire formation will turn downward. We understand that there is still a lot of room for the market to run, so if you have profits from your sell order at the upper bound and the formation begins to turn downward, you can use additional orders and stop-loss orders to hold onto the position with zero risk, thereby maximizing profits. Follow me for more interesting ideas that will greatly help your trading.
FXOPEN:XAUUSDEducation
by EagleEyeStrategy
Two methods to ensure no loss of principal There are only two ways to avoid losing capital: one is to have a small stop-loss space (reflected in the entry position), and the other is not to bet too much at once. For example, buying one lot with $10,000 can earn $1,000, and buying ten lots with $100,000 can earn $10,000. Although the probability is the same, the more you do, the more you earn, and the less you do, the less you earn. However, controlling losses should be the top priority. As discussed earlier, if you buy too many lots this time and get stopped out, it will result in a big loss, which violates the principle of capital preservation. Some traders become increasingly greedy after making profits and then add more positions. A typical behavior is adding positions. For example, if you bought 10 lots at first and then made a profit in the expected direction, the trader would blame himself for not buying more at the beginning. Then, he would begin to imagine that the market would continue to move in the expected direction and invest most of his capital in this product, let alone any correct practices such as taking profits in batches. After you add more positions, it means that the cost has changed. Once the market reverses slightly, you will go from being profitable to losing money. At this point, you panic, lose your ability to think, and greed slowly turns into hope. You hope that this is only temporary, but the losses increase every moment. Perhaps you will have some luck a few times, but it won't be long before there is a risk of a big loss or liquidation. It is important to understand that becoming rich cannot be achieved by just one market movement, so don't be obsessed with this one time. Greed makes people forget about risk, and don't always imagine that the market will move in the expected direction, ignoring the risk of the opposite trend. This is the key to keeping your capital out of danger. Follow me, and I will share more interesting ideas that will greatly help your trading.
FXOPEN:XAUUSDEducation
by EagleEyeStrategy
Who Moves the Forex Market | Forex Market Players Forex is the largest market in the world, with the tremendous daily trading volumes and millions of market participants. In this educational article, we will discuss who moves that market and who are its 6 the most significant players. 1. Governments Governments tend to set economic goals and influence the markets with their political decision. They define the course of their nations, issuing policies and imposing regulations. 2. Central banks Central banks implement the decisions of the governments, applying multiple instruments: Central banks control the emission of the money, shifting the supply and demand. They control interest rates and define the credit policies. Central banks control the international trade and sustain the exchange rates of the national currencies by interventions and handling the foreign currencies and gold reserves. 3. Commercial banks Commercial banks handle the international transactions. Over 70% of total Forex Market transactions directly refers to the actives of commercial banks. Commercial banks are also involved in speculation activities, benefiting from market fluctuations by relying on various strategies. 4. Corporations Corporation is the business that operates in multiple countries. With the constant capital flow between its branches and counterparts, corporations are permanently involved in a currency exchange. Also, corporations usually hedge currency risks, storing their liquidity in particular currencies. 5. Investment funds By investment funds, we imply the international or domestic professional money management companies. Dealing with hundreds of millions of investments, they quite often are operating on Forex market, buying foreign assets, speculating and hedging. 6. Retail traders The main goal of retails traders and speculators is to make short terms profits from their transactions on the market. Typically, the activities of traders constitute a relatively small portion of total trading volumes. Knowing which forces move the forex market, you can better understand how it works. The spot prices that you see on the charts reflect the sentiment of all the above-mentioned participants. ❤️Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
4
Non-farm payrolls data is about to bearish the gold market!Today, the U.S. February quarter-adjusted non-farm payrolls data will be released. Everyone knows that this data will play a key role in the gold market, because the performance of non-farm payrolls will directly affect the fundamental sentiment, which will determine the direction of the gold market in a short period of time.Does the non-farm payrolls data to be released today benefit the gold market or suppress the gold market?Let us make a bold prediction. On Wednesday, the announced value of ADP employment in the United States in February was 242,000, the previous value was 119,000, and the forecast value was 200,000, while the actual announced value of 242,000 was much higher than the previous value and the forecast value. To a certain extent, it shows that the U.S. economy is strong and supports the dollar, thereby suppressing the gold market. On Tuesday, Fed Chairman Powell's hawkish speech suppressed the gold market. However, after Fed Chairman Powell mentioned on Wednesday that the rate of interest rate increases in March depends on the data, the number of initial jobless claims in the United States released on Thursday was 210,000, higher than the previous value of 190,000 and the forecast value of 195,000, reflecting that the tight job market in the United States has still not eased, causing the market's expectations of the Federal Reserve raising interest rates by 50 basis points in March to cool down, US bond yields fell sharply, and the dollar was dragged down, which benefited the gold market. And today's non-farm payrolls data show that the market expects the number of new jobs to be 205,000, compared with the previous value of 517,000. Judging from the ADP data guidance, the non-farm payrolls data show that the market expects the number of new jobs to be higher than the expected value of 205,000, and the number of initial jobless claims in February remained at a comparable level. Although the number of people applying for unemployment benefits at the beginning of the week was as high as 210,000, overall, the number of new jobs in the month will not have much impact, so I think the non-farm payrolls released today will be higher than the expectation of 205,000, thereby suppressing the gold market. It should also be noted that the position of SPDR, the world's largest gold ETF, decreased by 3.47 tons to 903.15 tons on Thursday, a new low since the end of January 2020, suggesting that institutional and professional investors are still inclined to bearish the gold market. It can also be seen from the trend of gold. Although gold has recorded a strong rise in the short term, the strong pressure above still exists. Therefore, the early rise of gold is most likely to be to prepare for non-farm payrolls data and reserve room for the decline of the gold market.Then everyone thinks that the non-farm payrolls data to be released today will benefit the gold market or suppress the gold market?Everyone is welcome to come and discuss. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
OANDA:XAUUSDEducation
by Blessed_V
3
What is the golden rule of taking profits? For trading stocks, futures, or forex, taking profits is also part of the trading process. For investors, taking profits and adhering to it during a trade is effective. When to take profits? Where is the best position for stop loss and take profit? Which strategy is more profitable? Taking profits and stop loss is one of the most important aspects of trading. If not handled properly, it could lead to losses. In previous articles, we have discussed the rule of stop loss. This chapter will discuss the rule of taking profits. Investors are advised to follow and read this article. If it is helpful, please give it a like. Thank you. Methods of taking profits Taking profits means closing the position and securing profits when the trading goal is achieved to prevent market reversal. Taking profits can be divided into static and dynamic methods. Static taking profits means setting a target for taking profits and closing the position when the target is reached. For example, if the profit expectation is 100 points and the price has risen 100 points, the position is closed to take profits. The target for taking profits is fixed and static. Dynamic taking profits means the profit target is dynamic and is held until the price meets a dynamic standard before closing the position. For example, when holding a long position and floating profits, close the position when the market price breaks the bearish level. Traders cannot know in advance where the bearish level will appear and need to monitor the market dynamics. Next, we will discuss five methods of taking profits. Method 1: Fixed point profit taking This is the simplest method of static taking profits. After entering the position, set a fixed profit space. This profit-taking method is more suitable for intraday and short-term trading. For example, after entering an intraday trading position, set a fixed profit-taking point of 50 points. Intraday trading has a relatively obvious characteristic of fluctuating trends, and market prices tend to rebound and even fluctuate repeatedly. The profits from holding positions during market rebound may be given back, so setting a fixed profit-taking point can be more advantageous during trading. In practical trading, the number of fixed stop-loss points should be set according to the volatility of different products. For products with high volatility, set a larger number of fixed stop-loss points, and for products with low volatility, set a smaller number of fixed stop-loss points. Please note that this method should not be underestimated simply because it is simple. Whether this method is useful or not depends on the specific usage environment. Method 2: Fixed profit and loss ratio take profit. This is a commonly used static take profit method in medium and short-term trading. First, let's talk about the profit and loss ratio. The ratio of the profit space of an order to the stop loss space is the profit and loss ratio. For example, if the profit is 100 points and the stop loss is 50 points, the profit and loss ratio is 2:1. Fixed profit and loss ratio means that the take profit is set according to a fixed ratio based on the stop loss space. For example, if the stop loss of an order is 100 points, setting the take profit at 100 points results in a profit and loss ratio of 1:1. Setting the take profit at 150 points results in a profit and loss ratio of 1.5:1. Setting the take profit at 200 points results in a profit and loss ratio of 2:1, and so on. The fixed profit and loss ratio method is easy to operate and highly executable. Moreover, when the market fluctuates and the stop loss space expands, the take profit space will also expand accordingly, making it very flexible. Method 3: Take profit combined with technical indicators. This is also a static take profit method. After entering an order, the take profit is set based on technical indicators. For example, setting the take profit at the level of previous highs and lows, or at the support and resistance levels of the Bollinger Bands or important moving averages, is feasible. In addition, in practical trading, it is common to enter and exit at small time frames while looking at the support and resistance levels of larger time frames. For example, entering at the 5-minute level and setting the take profit at the support and resistance level of the 1-hour chart, or entering at the hourly level and setting the take profit at the Bollinger upper and lower bands of the daily chart, is essentially a logic of "going small and looking big". Method 4: Take profit following the trend. This is a dynamic take profit mode and a trend-based take profit strategy. After entering an order, the position is held following the trend indicator, and the position is held until a reversal signal is issued, at which point the take profit is closed. Tracking with trend lines, channel lines, and turning points in the market are all common practices in daily trading. Method 5: Combination of multiple methods, batch-wise profit taking. The above four methods are the most mainstream and commonly used methods, but each method has its pros and cons. For example, the fixed profit and loss ratio method cannot hold onto trend profits, and the trend tracking method cannot make profits in volatile markets. Therefore, some clever traders combine these methods and take profits in batches. For example, after the order is entered, when the profit and loss ratio reaches 1:1, part of the position is closed, and the remaining position is exited using the trend tracking method to achieve greater profits. In practical trading, traders can combine the above profit-taking methods in different ways, such as combining the support and resistance levels of the previous high with the fixed profit and loss ratio, or combining the support and resistance levels of the previous high with the trend tracking method. After discussing these five profit-taking methods, it is only providing traders with an idea, and the specific results of practical trading must be reviewed and analyzed in combination with their own trading systems. OANDA:XAUUSD FXOPEN:XAUUSD
TVC:GOLDEducation
by Ice_and_Fire1
5
What is the ultimate level of stop-loss in trading? For trading in stocks, futures, or forex, stop loss is a part of the trade. It only works effectively for investors if it is included and adhered to in every transaction. As we all know, stock investment requires three basic skills: stock selection, stop loss techniques, and profit-taking strategies. However, many investors do not pay enough attention to stop loss and profit-taking techniques, and ultimately regret not setting stop loss and profit-taking points. Today, we will introduce the highest level of stop loss techniques. First, the comprehensive stop loss method is the highest level of stop loss for stock investment. Therefore, when setting the stop loss point, the overall situation must be taken into account. There is no stop loss method that exists separately from the investor's overall operation. If the stock market develops beyond the investor's ability, it means that the stop loss measures must be implemented. Second, the highest level of stop loss is in the heart of the investor. When selling stocks, investors should not only rely on their eyes but also observe and analyze with their hearts. Many stock investors only believe in what they see when selling stocks. As a result, they often miss the selling opportunity when they finally realize the situation. Third, the stop loss method based on consolidation time. If an investor buys a stock with a heavy position, but the stock price does not rise much after buying, and it starts to move sideways after a period of time, it is important to note that if the consolidation time is too long, it means that the main force cannot use funds to boost the stock price. Fourth, stop loss based on real-time trends. If the main force of a stock has been washing the stock for some time and still has not controlled the stock when it is time to do so, it means that the main force has no intention of raising the stock price, and the future outlook is pessimistic. At this time, investors should take timely stop loss measures, otherwise, they will end up suffering losses. Fifth, stop loss based on trading volume. If an investor encounters a stock that is severely oversold, and many investors are trapped at a higher price, it is time to sell the stock. However, sometimes, observing the daily k-line chart, it is found that there has been a huge increase in trading volume in recent days. Note that this is a trap set by the main force to lure retail investors. In summary, the above is the relevant knowledge about stop loss techniques that we introduce to stock investors, hoping to help our friends in the investment field. FXOPEN:XAUUSD MCX:CRUDEOIL1! FX:EURUSD
TVC:GOLDEducation
by Ice_and_Fire1
How Leverage Really Works | Margin Trading Explained Leveraged trading allows even small retail traders to make money trading different financial markets. With a borrowed capital from your broker, you can empower your trading positions. The broker gives you a multiplier x10, x50, x100 (or other) referring to the number of times your trading positions are enhanced. Brokers offer leverage at a cost based on the amount of borrowed funds you’re using and they charge you per each day that you maintain a leveraged position open. For example, let's take EURUSD pair. Let's buy Euro against the Dollar with the hope that the exchange rate will rise. Buying that on spot with 1.195 ask price and selling that on 1.23 price we can make a profit by selling the same amount of EURUSD back to the broker. With x50 leverage, our return will be 50 times scaled. With the leverage, we can benefit even on small price fluctuations not having a huge margin. ❗️Remember that leverage will also multiply the potential downside risk in case if the trade does not play out. In case of a bearish continuation on EURUSD , the leveraged loss will be paid from our margin to the broker. For that reason, it is so important to set a stop loss and calculate the risks before the trading position is opened. Let me know, traders, what do you want to learn in the next educational post?
Education
by VasilyTrader
10
How to grasp the impact of news on GOLD? Here we will use the United States as an example since it is a major world economy with significant influence and weight. Point 1: Release of important data For instance, the release of US non-farm payroll (NFP), employment data (ADP), initial jobless claims, CPI, GDP, PMI, etc. all have varying degrees of impact on the price of gold. Often, the release of this important data will trigger fluctuations in gold prices. Generally speaking, when the US dollar rises, gold falls, and when the US dollar falls, gold rises. However, there may be synchronous situations, which are very rare. If this occurs, investors need to analyze and consider it carefully. For instance, the weakness of the US dollar often pushes up the price of gold, as the decline in the US dollar can allow investors who use non-US currencies as their base currency to buy cheaper gold with other currencies. It can also stimulate demand for gold, especially in the consumption of gold jewelry. Point 2: Speeches by some important officials For example, speeches by well-known officials such as those from the Federal Reserve and the US Treasury. Undoubtedly, speeches by officials from different countries are a significant factor influencing the trend of gold prices, but the impact of officials' positions, identities, and the content of their speeches on the gold market varies in magnitude. The above two points are a few of the news contents that have a significant impact on the price of gold. In addition, other economic data in the United States should also be noted as they all mutually influence and relate to each other. COMEX:GC1! BIST:XAUUSD1! MCX:GOLD1!
FX:XAUUSDEducation
by investmentMr-X
How to achieve stable and sustained profits. How to grasp the trend in this market? It is to follow the trend. When the trend comes, the invisible force is pushing you forward. To gain profit and income in the gold and foreign exchange markets, this is particularly important. What is the secret to making profits? The answer is simple and also the most overlooked and precious thing that is free, just like the air we breathe and the sunshine. What is the secret to making money? In fact, it is simple. Throw away all the news and fundamentals, return to rationality, and independently analyze and follow the trend. Trading is a trial-and-error process! In the continuous occurrence of errors, the main problem faced is the shrinking of funds and psychological torment. A trader must reduce the probability of making mistakes because your profit comes from other people's losses. That is to say, when someone makes a mistake, there will be profits for others to earn in the market. However, you cannot calculate or predict how many people will make mistakes in the next step, how big the mistakes will be, nor can you guarantee that you will always be on the correct side. Therefore, in trading, the only thing you can do is to try to make the time of your mistakes as short as possible. The rest is to wait for others to make mistakes, let's work hard together! In trading, we may have short-term profit goals, but long-term goals are based on short-term profits. Without short-term profits, long-term goals are meaningless. Therefore, we need to balance short-term and long-term goals to achieve stable and sustained profits. Pay attention to me and make trading simpler.
TVC:GOLDEducation
by Ice_and_Fire1
Top Tips For Beginner TradersTrading can be a lucrative and exciting venture, but it can also be overwhelming and risky for new traders. Whether you are interested in stocks, forex, or other markets, there are some important tips to keep in mind as you begin your journey as a trader. Let's outline some of the top tips for new traders. Start with a solid education The first step to becoming a successful trader is to gain a solid education on the markets you are interested in trading. This can involve reading books, taking courses, attending seminars, and researching online. By understanding the fundamentals of trading, you can avoid many common mistakes and develop a strong foundation for your trading career. Develop a trading plan Before making any trades, it is essential to develop a trading plan that outlines your strategy, risk management approach, and goals. Your plan should also include details such as the types of trades you will make, the timeframes you will trade on, and the tools and indicators you will use to analyze the markets. Practice with a demo account Many brokers offer demo accounts that allow you to practice trading without risking real money. This is a valuable way to test out your trading strategies and get a feel for the markets before committing to real trades. Practice trading on a demo account until you feel comfortable with your approach and have a solid understanding of the markets. What I love about Trading view is that you can demo trade without a broker. You can save the headache of having to find a broker later in your trading journey when you're ready to trade live. Manage your risk One of the most important aspects of successful trading is managing your risk. This involves setting stop-loss orders to limit your losses and using proper position sizing to ensure that you do not risk more than you can afford to lose. Never trade with money that you cannot afford to lose, and always be mindful of the risks involved in each trade. Think of each trade as it's own idea that gets a portion of your capital. That makes it easier to trade in size instead of betting everything in 1 or 2 trades. Keep a trading journal Keeping a trading journal is a great way to track your progress and identify areas for improvement. Record your trades, the reasons behind them, and the outcomes. Analyze your trades regularly to identify patterns, mistakes, and successes, and adjust your trading plan accordingly. Your journal will differ from other trader's journal so be mindful you're keeping dated records of everything you do. Be patient and disciplined Successful trading requires patience and discipline. Avoid the temptation to make impulsive trades based on emotions or rumors, and stick to your trading plan. Remember that trading is a long-term endeavor, and focus on making consistent gains over time rather than trying to get rich quick. If you add stress to your journey, the road to being a profitable trader will not be enjoyable. Being patient and disciplined can reserve your mental and physical capacity as a trader. Stay informed Finally, it is important to stay informed about the markets you are trading in. I'm big on not following every trader's advice or suggestions because then, you'll trade their journey. While their journey may be great yours could suffer if they decide to stop trading and you can't hold your own. To get the best results, stay up to date with current price movement. If you are a fundamental trader, stay up to date on what economical data is moving the market. be sure you understand what you do for yourself and not based on what others have to say about the market. In conclusion, trading can be a rewarding and profitable venture, but it requires dedication, discipline, and a solid education. By following these top tips for new traders, you can avoid many common mistakes and develop a strong foundation for your trading career. Remember to stay patient, manage your risk, and stay informed, and you will be on your way to success in the world of trading. I'll be live-streaming here on Trading view tomorrow at 1:00 pm EST. to give more tips to help the beginner trader. I hope to see you there and I hope you enjoyed these tips.
Education
by ShaquanLopez
7
CURRENCY CORRELATION HEAT MAPCurrency correlation is important to understand in forex trading because it could impact your trading results often without you even knowing it. In this post, I will share some information about correlations in forex trading and how you are able to use it to your advantage to avoid unnecessary losses. Throughout my journey as a beginner trader, I have bought or sold 2 different currency pairs many times without knowing they are negatively correlated just to let the gains be offset by the other pair. My aim in this short post is to bring awareness about the positive and negative correlations between the currencies, specifically the most traded major pairs in the forex market. What is correlation in forex trading? A foreign exchange correlation is the connection between 2 different currency pairs. There is a positive correlation when 2 pairs move in the same direction, a negative correlation when they move in opposite direction, and no correlation if the pairs move with no relationship. In order to understand the relationship between 2 currencies, you must know the correlation coefficient and how it relates. What is correlation coefficient? A correlation coefficient represents how strong or weak a correlation is between 2 forex pairs. They are expressed in values and range from -100 to 100 or -1 to 1, with the decimal representing the coefficient. The higher the value of the correlation coefficient will largely reflect the movement of the other pair. See Figure 1. Correlation Heat Map For example, If the reading is -70 and above 70, it is considered to have strong correlation between the two. Readings anywhere between -70 to 70 means that the pairs are less correlated. With coefficients near the 0 mark, means little or no relationship with one or another. As traders, implementing risk management in our trading plan also reflects to correlations as you may think its a good ides to buy 2 highly correlated pairs thinking you will double your profits when in reality you may lose double the money as both trades could end up in a loss as you're doubling your risk. Figure 2 . Positive Correlation: EURUSD / AUDUSD As we can see on this line chart between EURUSD / AUDUSD, both pairs have a strong correlation coefficient as they are moving in almost the same direction. The correlation coefficient is valued at 75 as noted on the heat map. For example, if you place a buy order EURUSD and place a sell order on AUDUSD, expect a win and a loss in most cases. Figure 3. Negative Correlation: EURGBP / GBPUSD On this line chart, we can see that both of these parts are moving in opposite directions which are showing a negative correction between the two which in fact is also known as an inverted correction. The correlation coefficient is valued at -90 on the heat map which means if you place a buy order on EURGBP and a place a sell order on GBPUSD you may double your profits, but again you're doubling your risk. Figure 4. No Correlation: GBPJPY / USDJPY This line chart shows that both of these pairs move in the same direction with a correlation coefficient of -9 which has almost no correlation. If you place a buy order on GBPJPY and place a sell order on USDJPY, one of these trades will most likely end up in a loss. The pairs that have no correlation usually have different and separate economic conditions therefore coefficient values tend to be lower. In summary, understanding which pairs are correlated with one another will be able to help build your strategy and improve your trading results. Every trading strategy NEEDS to have Risk Management implemented in it as it is the key to sustainability for the long run. Trading is a marathon NOT a sprint. To learn more about forex correlations and their relationships, please see the following links. References: www.tradingview.com ca.investing.com If you felt this information was helpful, and hit the LIKE button and FOLLOW me for more educational posts and analysis. Feel free to leave a comment if you have any questions! I appreciate all the feedback. Thanks Trade Safe
UEducation
by ktlfx
12
The Seven Major Factors Affecting Gold.Firstly, the demand for gold commodities affects the price. In addition to its use as a daily decorative item, gold plays an important role in industry, occupying an irreplaceable position in industries such as dentistry, electronics, and others. As a hedge tool, the price of gold is influenced by demand, and the supply and demand relationship directly affects the price of gold. Changes in production will also affect the gold price, such as the demand for teeth in Japan and the demand for jewelry in India, both of which directly affect the monthly price trend of gold each year. Secondly, the gold output determines the supply-demand balance of gold. The production of gold-producing countries directly affects the supply-demand balance of gold. Currently, China has the largest gold production, followed by South Africa. Any unexpected event, such as strikes and other special situations, will have an impact on the gold price. Thirdly, international interest rates and exchange rates directly affect the gold price. Interest rates and exchange rates have a direct impact on the gold price, especially the trend of the US dollar. The international status of the US gold price directly determines the status of the country's international finance, and the price of the US dollar also directly affects the price of gold. As the US dollar, which also has investment functions like gold, it directly affects the gold price. If the investment trend of the US dollar is strong, gold investment will be relatively less, while the opposite is true for the US dollar in a weak investment market, where the role of gold as a reserve asset and a hedge will be stronger. Fourthly, inflation stimulates the gold price. When the consumer price index rises and inflation affects investments, gold is no exception. When the price fluctuation of a country is severe, and the inflation rate is high, and the price fluctuation is severe, people's panic will intensify. When purchasing power declines, people will worry about future security and choose to buy gold to hedge, which will cause the gold price to continue to rise. Although the current role of gold in fighting inflation is not as significant as before, high inflation will still stimulate the gold price. Fifthly, political situations such as wars can stimulate the gold price. Political instability promotes the rise of the gold price, and war causes a rise in commodity prices, leading to a rise in gold prices. Similarly, as a critical strategic material, the price of gold has a remarkable correlation with the price of oil. When the price of oil rises, the gold price rises as well. Conversely, when the price of oil falls, the gold price also falls. Sixth, as a safe-haven demand, gold is the first choice Due to the small total reserves, the price of gold is relatively stable, and because it has served as a currency, it is an excellent tool for hedging and hedging. As an important hedging tool, gold has strong political sensitivity. Jewelry in prosperous times, gold in troubled times, when the economy is in recession, investment will favor gold more, and it will also directly affect the price of gold. 7. Investors’ psychological expectations The psychological expectations of investors are an important factor affecting the price of gold, but they usually do not act alone. Instead, they often change in conjunction with the variations in the aforementioned factors, amplifying or reducing the expected value of gold and causing significant differences in its price. Following the footsteps of the market, respecting the market, and aweing the market is to follow the market Pay attention to me and you will discover that trading is so simple and enjoyable!
FXOPEN:XAUUSDEducation
by Ice_and_Fire1
How to achieve profits by managing emotions?Market fluctuations are often a direct reflection of the emotions of market participants. Managing and controlling emotions is essential for successful trading. If you cannot control your emotions, you will suffer from impulsive emotional behavior and make bad decisions, which will harm your trading performance. Negative emotions such as fear, hatred, anger, greed, jealousy, pessimism, and despair can lead to negative consequences for traders. Traders who have negative emotions may lack the ability to leave positions, refuse to accept reality, and blame others, resulting in selling positions only after a long period of price declines, missing the best buying points, and selling too early. Negative traders may also regard failure as a negative, significant, and final result, attributing losses to their own shortcomings or negligence. Everyone experiences various emotions, but people with high emotional intelligence can better manage their negative emotions and vent them appropriately. Emotional control skills can be developed through practice, but it is important to note that this process is a long-term and systematic one. Traders must be psychologically prepared for this. Therefore, no matter what happens, you must control your impulsive emotions. Take a deep breath for 10 seconds, then choose the best course of action. This often leads to more rational and correct decisions. Do not make decisions when impulsive, and do not make promises when excited. By managing your emotions, you gain control over your life. There are various emotions in life, and you must learn to manage and control them. Do not be a slave to your emotions. Manage your negative emotions and cleverly transfer them . Similarly, controlling emotions in life determines emotional control in trading. The three stages of emotional failure leading to trading losses are: 1) being careless before unexpected events occur; 2) being panicked after unexpected events occur; 3) being eager to make up losses after suffering losses. The solutions are as follows: Always respect the market and trade with caution. Approach the market with a trembling, cautious attitude. Once you suffer losses, do not panic. Stop trading temporarily, find the cause, identify the problems, and improve your system. Impatience is the biggest reason for traders' losses. Heavy positions are impatience, opening and closing positions without signals is impatience, frequent trading is impatience, adding positions is impatience, which is essentially greed, wanting to make money quickly. Be patient, make calm decisions, and the market will reward you.
INDEX:BTCUSDEducation
by triumphing
Human weaknesses that need to be overcome in the trading process Fear of missing out Before entering the market, you may have a bullish or bearish view and enter accordingly. Once you have a position, you are constantly concerned with the fluctuations of your account funds, tormented by various temptations, fears, greed, persistence, hope, and emotions influenced by these changes, and ignoring the market itself. This greatly interferes with normal thinking and judgment. Whether it's a long or short position, whether it's a profit or loss, as long as small gains and losses are within an acceptable range, one should beware of large losses. Traders should focus on the correctness of the process and be content with the results as they come. If you think about the results in advance, it will disturb the entire trading process and result in losses every time. The human mind always jumps ahead to imagine unrealistic outcomes and ignores what is actually happening in the present. This is a big mistake in our lives. These are the causes of fear or greed, which can lead to traders regretting after placing an order or closing a position, causing hesitation and indecision. The reason for this is that there is no effective trading system, causing traders to lack confidence in any aspect of the trading process. Confronting the market Traders must first understand that the market does not shift according to human will. The education we have received since childhood is based on competition, such as overcoming various obstacles and fighting difficulties. This consciousness has deeply rooted itself in the hearts of traders. In fact, when traders enter the market, they still carry this mentality. Often, some elites from various industries come to the market and suffer failures, and even more thoroughly than ordinary people. This is because successful people in other industries have a strong sense of self and do not believe they will fail. They are also unwilling to accept their own failures. Their success makes their personalities become very tough, so when the market turns against them, they do not know how to yield and compromise, but adopt a confrontational attitude until they are destroyed. People in life tend to defend their views to some extent, unwilling to admit their judgment errors. Therefore, regardless of whether a person is right or wrong, they will stick to their attitude to the end. What they defend is not the truth, but their self. This inherent nature of struggle and the attitude of not wanting to yield or give up self is the biggest obstacle in trading. Holding positions, not setting stop losses, and not admitting mistakes can eventually result in large losses or even liquidation. The pursuit of perfection The pursuit of perfection is a very greedy and extreme mentality. Because of this pursuit, it does not allow any flaws, cannot bear even very small losses, and it is difficult to execute a stop loss when necessary, and wants more profit when it is time to close a profitable position. Because of this pursuit, a person tries to capture every movement and does not want to miss any market situation. Everyone has their own limitations and areas in which they are not good at. The pursuit of perfection can easily lead to frequent and impulsive trading. To be continued...
INDEX:BTCUSDEducation
by triumphing
3
A unified digital currency for Russia and Iran? The digital rubl According to news from Russia, the unified digital currency between Russia and Iran may be implemented before the end of the year, which means that the bilateral local currency settlement between Russia and Iran has taken a big step forward and has reached the threshold of a unified digital currency. Not long ago, the Central Bank of Russia announced that it would officially launch the digital ruble pilot project on April 1. It seems that not only Russia has its own digital currency, but also Iran has been tied to it. The unified digital currency of the two countries has not appeared since the advent of CBDC. However, maybe Russia and Iran can come up with something new and let the world continue to explore new directions To say that Iran's strength is limited, especially its high-tech strength is even more limited. The best technology at present is to provide drones to Russia. This is still developed on the basis of capturing American drones, but Iranian drones are indeed more useful. Great, Russia has used a large number of Iraqi-made drones on the front line of Ukraine, which has caused major damage to Ukraine, but when it comes to high-tech finance, Iran is stretched, and it has no ability to develop digital currency alone, tied to Russian tanks to develop a unified Digital currency, for Iran, may be able to enter the era of digital currency ahead of schedule. At present, the most typical digital currency is the digital currency of a country, including the digital Hong Kong dollar developed by an autonomous region like Hong Kong. There has never been a unified digital currency developed by two countries, and the progress is very fast now. The digital ruble is about to start, which is also very important for Russia. Joining the digital currency competition will help Russia de-dollarize and realize currency independence. Therefore, Russia is not far behind in digital currency research and development, at least ahead of the euro, etc., and even the digital dollar has reached It has not yet started. Russia is one step ahead. The purpose is to firmly grasp the currency autonomy and realize the internationalization of the ruble in the process of promoting de-dollarization. This is conducive to safeguarding Russia’s sovereignty and interests. It is an inevitable move for Russia. Now is the critical moment. Judging from these signs, Russia is going to start the digital ruble first, and then start the unified digital currency with Iran after the digital ruble is running smoothly. In fact, it is to develop a new digital currency on the basis of the digital ruble. Utilize the original infrastructure, and it is likely to be a digital ruble in disguise, but Iran can voluntarily accept it. Under the premise of not being able to develop its own digital currency, it will willingly accept the digital ruble or even the digital ruble in disguise. Russia and Iran are getting closer. Fundamentally speaking, due to the extremely low cost of digital currency, transaction payment settlement and circulation are very fast, the digital currency of any country can be exchanged and payment transaction settlement at the fastest speed, so there is no need to engage in a unified unified number Currency, you only need to do a good job in the infrastructure platform, but it is not realistic for Russia to develop digital currency for Iran, so it is simply bundled together. This is a reasonable guess at present. How far it will go is hard to say at the moment, it can only be further observation and analysis. Traders, if you like me or have your own opinion about it, please write in the comments. I will be happy
CME:BTC1!Education
by Crazylambboy
Promise me, you must live better than me A morning is a legend, and every morning is indispensable in the chain of life legends. Today's morning breeze, today's morning glow and sunrise, is the only one in your life, if you miss it, you will miss it forever. I don't know tens of thousands of thousands of years of practice, we are lucky to have this accident of life, and we have this opportunity to write legends. Friends, when you have completed the necessary energy supply, don't be greedy for the port at night, let's set sail! I wish my friends a happy weekend, a harmonious and happy family, and investment will make money. I am very lucky to be friends with you in this vast crowd. I hope my appearance will bring you good luck.
CME:BTC1!Education
by Crazylambboy
1