Products
Community
Markets
News
Brokers
More

Community
Ideas
Beyond Technical Analysis
Trading Psychology

Trading Psychology

4. e-Learning with the TradingMasteryHub - Risk Management 1x1 🚀 Welcome to the TradingMasteryHub Education Series! 📚 Are you looking to level up your trading game? Join us for the next 10 lessons as we dive deep into essential trading concepts that will help you grow your knowledge and sharpen your skills. Whether you're a beginner or looking to refine your strategy, these lessons are designed to guide you on your journey to better understand the markets. 📊 Manage Your Risk with These Three Simple Methods! In trading, managing risk effectively is crucial to long-term success. Even the best strategies can fail if risk management is ignored. In this session, we'll explore three key methods that every trader should master to protect their capital and stay consistently profitable. 1. Position Sizing: Trade Smart, Trade Safe Position sizing is the foundation of risk management. I always set a daily and weekly stop-loss limit to ensure that I can recover mentally and financially from any losses. My daily stop-loss is capped at 5-10% of my entire trading account, and I never risk more than 30% of that daily limit on a single trade. Each trade's risk allocation depends on the quality of the opportunity: - 5-star setups: Up to 30% of the daily stop-loss. - 4-star setups: Up to 15% of the daily stop-loss. - 3-star setups: Up to 5% of the daily stop-loss. I only trade 4-star setups and above to avoid overtrading and the temptation to jump into random market opportunities. This disciplined approach ensures that I’m only putting my capital at risk when the odds are strongly in my favor. 2. Stop-Loss Orders: Protect Your Trades with Precision When setting stop-losses, I place them at strategic points highlighted by the market, such as significant support or resistance levels. To avoid premature stop-outs due to market noise, I set my stop-loss beyond the spread and the market’s natural fluctuations. For example, if the FDAX is in an uptrend with the last higher low at 17,000 points and the spread is 15 points, I would set my stop-loss at 16,967 points (17,000 - 15 - 17). This ensures that my risk/reward ratio (R/R-ratio) is correctly calculated. Before entering any trade, I carefully assess whether the potential upside justifies the risk. If the R/R-ratio isn’t favorable, even for a 5-star setup, I might avoid the trade to protect my capital. 3. Diversification: Tailor Your Strategy to Your Comfort Level Diversification is another critical aspect of risk management. As a trader, you can choose to focus on a handful of ticker symbols or spread your risk across a broader range of assets. The first approach, trading a few instruments, is easier to manage and ideal for strategies like market profile trading in FX or indices. Alternatively, you might opt for a more diversified portfolio, trading up to 50 different stocks at once. In this strategy, each trade only represents a small fraction of your total risk capital—such as your daily stop-loss. This minimizes the emotional strain of trading, as each individual trade carries a smaller risk. With a solid strategy, you can manage all trades effectively, spreading your approach across calls, puts, different markets, industries, and volatility levels. However, this approach is typically better suited for larger accounts, where spread costs won’t significantly impact your profits. 🔚 Conclusion and Recommendation Risk management isn’t just about protecting your capital; it’s about maintaining the psychological stability needed to trade consistently. By mastering position sizing, setting precise stop-loss orders, and choosing the right diversification strategy, you can navigate the markets with confidence and discipline. Remember, successful trading isn’t just about finding the right opportunities—it’s about managing those opportunities wisely to ensure long-term profitability. By focusing on high-quality trade setups, calculating your risks accurately, and diversifying appropriately, you’ll find that you can maintain your composure even during losing streaks. This approach not only protects your account but also keeps your mind clear and your emotions in check, paving the way for sustained success. --- 🔥 Can’t Get Enough? Don't Miss Out! Subscribe, share, and engage with us in the comments. This is the start of a supportive trading community—built by traders, for traders! 🚀 Join us on the journey to market mastery, where we grow, learn, and succeed together. 💪 💡 What You'll Learn: - The fundamentals of trading - Key technical and sentiment indicators - Risk management strategies - And much more!... Best wishes, TradingMasteryHub

Education

by TradingMasteryHub

Overcoming Confirmation Bias in Trading Confirmation bias is a common psychological pitfall where one seeks out information that confirms their pre-existing beliefs while disregarding evidence that contradicts them. In trading, this bias can lead to skewed analysis, poor decision-making, and ultimately, financial losses. To become a successful trader, it's crucial to recognize and overcome confirmation bias. 1️⃣ Recognize and Acknowledge Bias The first step in overcoming confirmation bias is to acknowledge its existence. As traders, we need to be aware of our tendency to favor information that aligns with our expectations. This awareness is not just about self-reflection but actively questioning whether the evidence supporting our trading decisions is genuinely robust or merely convenient. For instance, let's say I held a strong belief in a particular stock's potential to surge based on a positive earnings report. I ignored signs of market saturation and competition, leading to a costly mistake. By recognizing this bias early on, you can start questioning the validity of your assumptions, paving the way for more balanced analysis. 2️⃣ Diversify Your Information Sources To combat confirmation bias, it's essential to gather information from a variety of sources. Relying solely on news outlets or analysts that share your perspective can reinforce your biases. Instead, seek out opinions that challenge your views, whether through forums, financial blogs, or discussions with other traders. For example, following only bullish analysts can lead to miss critical bearish signals in the market. Expanding your sources to include contrarian viewpoints can help you gain a more comprehensive understanding of market conditions, ultimately leading to better trading decisions. 3️⃣ Use Quantitative Analysis Quantitative analysis involves relying on data and statistical methods to inform trading decisions. This approach reduces the influence of personal biases by focusing on objective metrics rather than subjective opinions. By incorporating tools like moving averages, structure and sentiment, you can make decisions based on empirical evidence rather than gut feelings. 4️⃣ Establish Clear Trading Criteria Having predefined trading criteria can help you stick to your strategy and avoid making decisions based on biased thinking. This might include specific entry and exit points, stop-loss or damage control levels, and profit targets. By setting these rules in advance, you're less likely to deviate from your plan due to confirmation bias. In my experience, setting strict damage control triggers has been invaluable. Even when I felt strongly about a trade, adhering to my DCT criteria prevented me from holding onto losing views for too long, ultimately protecting my capital. 5️⃣ Conduct Post-Trade Analysis After closing a trade, it's crucial to review the decision-making process that led to it. Did you gather all relevant information, or did you selectively focus on data that confirmed your beliefs? By conducting a thorough post-mortem analysis, you can identify instances of confirmation bias and learn from them. I once exited a very profitable trade too early because I was overly focused on a piece of news that aligned with my bearish outlook. Reflecting on this experience helped me realize that I had ignored other bullish indicators. This kind of post-trade analysis has been instrumental in refining my approach and minimizing biases over the years. 6️⃣ Apply Scenario Analysis Scenario analysis involves considering multiple potential outcomes and their implications for your trading strategy. Instead of fixating on a single narrative, imagine various scenarios, including both favorable and unfavorable outcomes. This approach encourages you to think more broadly and reduces the likelihood of confirmation bias clouding your judgment. We do this day in and day out in our trading program. For instance, when trading commodities, begin using scenario analysis to account for different geopolitical developments. By considering both bullish and bearish scenarios, you will be better prepared to adjust your positions as new information emerges, leading to more flexible and adaptive trading strategies. 7️⃣ Practice Mindfulness and Emotional Regulation Trading is as much about managing emotions as it is about analyzing markets. Confirmation bias often stems from emotional attachment to specific outcomes. Practicing mindfulness and techniques like deep breathing or meditation can help you stay grounded and objective in your decision-making. Overcoming confirmation bias in trading is a continuous process that requires self-awareness, discipline, and a commitment to objective decision-making. This approach will lead to more informed and profitable trading decisions.

Education

Overcoming Self-doubt and Pushing Forward How did I overcome self-doubt & push forward towards my goals? I wanted to share my personal journey on how to pick yourself up when self-belief falters: 1️⃣ Acknowledge the feeling: It's okay to have moments of self-doubt. I've learned that recognizing and accepting these emotions is the first step towards overcoming them. 2️⃣ Reflect on past successes: Reminding myself of the goals I've already achieved and the obstacles I've overcome boosts my confidence. I've done it before, and I can do it again! 3️⃣ Break goals into smaller steps: When overwhelmed, I break my big goals into smaller, manageable tasks. Progress on these smaller milestones fuels motivation and keeps me moving forward. 4️⃣ Seek support & encouragement: I reached out to friends, mentors, and my trading community for support and encouragement back in the day. Surrounding myself with positive influences helps me regain perspective and self-belief. 5️⃣ Embrace the learning curve: Instead of dwelling on setbacks, I view them as valuable learning experiences. Every challenge is an opportunity to grow and refine my approach. 6️⃣ Visualization & positive affirmations: I visualize myself achieving my goals with clarity and conviction. Positive affirmations reinforce my belief in my capabilities and attract success. PS: I also dismissed this voodoo at the beginning. Trust me, don't. Remember, it's normal to have moments of doubt, but they don't define you. Embrace the journey, draw strength from within, and persist with determination. Trust in yourself and your abilities to reach those goals!

Education

"Know Thyself: The Ancient Greek Secret to Mastering the Markets "Know Thyself.’ This ancient Greek wisdom has echoed through time, and over the years in the markets, I’ve realized it holds the key to trading success. But most traders learn this lesson the hard way, often after years of frustration, losses, and self-doubt. To become a successful trader, you must truly know yourself. The saying "know thyself," inscribed at the Temple of Apollo at Delphi, might seem distant from the world of modern finance, but it’s more relevant than ever. The market is a mirror, reflecting who you are inside, and it has an uncanny ability to expose your deepest fears, negative emotions, and limiting beliefs. We all have traits that hinder our success—whether it’s fear, greed, impatience, or overconfidence. But rather than addressing these inner challenges, many traders look for external solutions, never realizing that self-awareness is the real key to success. In my years as a trader, I've come to understand that the most successful traders aren’t just experts in analyzing charts—they are experts in understanding themselves. They know their strengths and weaknesses and have the courage to face them directly. They recognize their emotional triggers and have developed the discipline to manage them effectively. Trading isn’t just about predicting market movements; it’s about understanding how you react under pressure, how fear can distort your decisions, and how greed can lead to costly mistakes. The journey to becoming a successful trader is as much about mastering yourself as it is about mastering the market. To truly master the markets, you must first master yourself. The market is a relentless feedback loop, constantly reflecting your inner state back at you, whether you realize it or not. When a trade is going against you, losing money, and you’re feeling the surge of anger and frustration, the market is holding up a mirror. It’s not just about the loss—it’s reflecting something deeper about your emotional state and mental approach. What are you seeing in that reflection? Is it impatience, fear, or a lack of preparation? When you find yourself revenge trading after a losing position, what's really happening? The market is showing you your vulnerability—perhaps an unchecked ego or a desperate need to validate yourself. It’s telling you what needs fixing, but only if you’re willing to stop and listen. Consider those moments when you double or triple up on positions, trying to force the market to move in your favor. What’s being reflected back at you then? Is it overconfidence? Maybe it’s fear dressed up as boldness. The market is giving you feedback—are you hearing it? And what about when you abandon your rules, chasing the allure of a quick profit or avoiding the pain of a potential loss? The market is exposing a deeper truth: a lack of discipline, or perhaps a failure to trust in your own system. It’s showing you exactly what you need to work on. Even in the good times, when you’re in a winning position but close out too early, the market reflects back your fear of losing what you’ve gained, your inability to let go, or your craving for certainty. Each of these reactions is a lesson in self-awareness. This is why trading often appears deceptively simple at first glance—yet is incredibly difficult to master. The principles seem straightforward: buy low, sell high, manage your risk. But the reality is that the market is not just a puzzle of price movements; it's a test of your inner world. It’s this challenge, this confrontation with your own psychology, that makes trading so demanding and why it takes years to truly master. Most people are not prepared for this journey of self-discovery, which is why so few actually make it. You might notice that many traders online focus almost exclusively on trade ideas and strategies, rarely discussing the inner battles that make or break a trader. This is because self-mastery is the hardest part of trading, and it’s often the least glamorous. Yet, every successful trader I’ve met or read about shares one common trait: a deep understanding of themselves. When you listen to them, you’ll hear them talk about overcoming their own internal struggles as much as they discuss their market strategies. This resonates deeply with my own experience; my biggest challenges have always come from within. But each time I’ve faced and overcome these inner obstacles, my trading has consistently improved. The truth is, the market reflects all our worst fears and attributes, as well as our strengths. The secret to success is learning to listen and understand what it’s telling you about yourself. Many traders fail because they’re unwilling to face these reflections. Instead of looking in the mirror and realizing the truth lies within, they blame the strategy, the market, the broker—anyone but themselves. But true courage in trading, just as in life, comes from facing your demons head-on . The saying "Know Thyself" is not just a call for introspection—it’s a challenge. The darkest hour is just before dawn , and it’s in those moments of greatest struggle that we’re given the opportunity to grow. By understanding yourself—your fears, your weaknesses, your triggers—you gain the strength to conquer the market. So next time you’re in a tough spot, remember the ancient wisdom: "Know Thyself." The market isn’t just a battlefield—it’s a mirror. Master what you see in that reflection, and you’ll master the markets. True success in trading and in life comes not from conquering the market, but from conquering yourself.

Education

e-Learning with the TradingMasteryHub - Essential Trading Tools **🚀 Welcome to the TradingMasteryHub Education Series! 📚** Ready to sharpen your trading skills? Join us as we explore the must-have tools for mastering index and commodity trading. Whether you’re just starting or aiming to refine your strategies, these insights will guide you to find your edge in the markets. **📊 The Power of Technical Indicators** Technical indicators are your compass in the market. Tools like Moving Averages (MA/EMA) help smooth out price data to identify trends, while the Relative Strength Index (RSI) reveals overbought or oversold conditions. Don’t forget Fibonacci Retracement Levels to spot potential support and resistance zones. These indicators form the foundation of your technical analysis toolkit. **🔍 Sentiment Analysis: Gauge the Market’s Mood** Understanding market sentiment is key to anticipating price movements. Use tools like the Commitments of Traders (COT) Report for insights into futures markets, and keep an eye on the Volatility Index (VIX) to measure market fear and uncertainty. These tools help you gauge the emotional pulse of the market. **📅 Economic Calendars: Stay Ahead of Major Moves** Never miss a beat with economic calendars. Track key events like interest rate decisions and GDP releases that can impact index and commodity prices. Staying informed about these events ensures you’re prepared for significant market movements. **🔗 Market Correlations: Understand the Bigger Picture** Understanding how different markets are interconnected can give you a strategic advantage. Tools that show correlations between assets, like the relationship between gold and the U.S. dollar, can help you make more informed trading decisions. **📈 Volume Analysis: Confirm Trends and Breakouts** Volume is a crucial factor in understanding price movements. Tools like **Volume Profile** allow you to see the distribution of traded volume at different price levels, highlighting areas of strong support and resistance. This can help you identify key price zones where the market is likely to react. **VWAP** (Volume Weighted Average Price) is another essential tool, showing the average price at which an asset has traded throughout the day. It serves as a benchmark for fair value, and deviations from the VWAP can signal potential reversals or continuation patterns. **RVOL** (Relative Volume) measures the current trading volume relative to the average volume over a given period. High RVOL indicates stronger-than-normal market activity, helping confirm the strength of a trend or breakout. **Pivot Points** are also key indicators that help traders identify potential support and resistance levels based on the previous period's high, low, and closing prices. They offer a quick way to spot key levels where the price might bounce or break through, aiding in your decision-making process. - **Pro Tip:** On TradingView, I recommend using the TPO (Time Price Opportunity *new*) indicator for a deeper volume analysis. Search for TPO, disable everything in "style" under the settings, and enable "show volume profile," VAL, VAH & POC. This setup will help you visualise significant areas of support and resistance, enhancing your ability to make informed trading decisions. **🛡️ Risk Management Tools: Protect Your Portfolio** Risk management is the backbone of successful trading. Use position sizing calculators to manage your exposure, and set Stop-Loss and Take-Profit orders to automate your exits. Protecting your capital is just as important as growing it. **🔒 Risk Management in Proprietary Trading: Staying Within the Lines** As TradingMasteryHub is working with a proprietary firm, we must adhere to strict risk management rules to protect the capital provided to us. One of the key rules is the **maximum daily drawdown**, typically set between 0,5-1% (Futures) and 3-7% (CFDs) of the account size. For example, with a $500,000 account, the daily drawdown limit would be $25,000 (5%). To stay within this limit, we never risk more than 20% of the daily drawdown on a single trade. In this case, the maximum risk per trade would be $5,000. By following these guidelines, we ensure that we remain aligned with the firm’s risk management protocols, safeguarding both our positions and the firm’s capital. **🔚 Conclusion and Recommendation** Mastering index and commodity trading requires a well-rounded toolkit. By combining technical indicators, sentiment analysis, economic awareness, and risk management, you can navigate the markets with confidence. Remember, consistent practice and disciplined strategies will pave your way to success. **🔥 Can’t Get Enough? Don’t Miss Out!** Subscribe, share, and engage with us in the comments. This is the start of a supportive trading community—built by traders, for traders! 🚀 Join us on the journey to market mastery, where we grow, learn, and succeed together. 💪 **💡 What You’ll Learn:** - Essential technical indicators - How to gauge market sentiment - The importance of economic calendars - Risk management strategies - And much more!... Best wishes, TradingMasteryHub

Education

by TradingMasteryHub

RISK MANAGEMENT IN TRADING RISK MANAGEMENT IN TRADING: Why It's More Important Than Win Rate 🔵 INTRODUCTION In the world of trading, many newcomers fixate on finding the "perfect" strategy with the highest win rate. However, experienced traders know a secret: risk management is the real key to long-term profitability. In this post, we'll explore why managing your risk effectively is more crucial than your win rate, and how it can make the difference between success and failure in your trading career. 🔵 UNDERSTANDING RISK MANAGEMENT Risk management in trading refers to the process of identifying, analyzing, and accepting or mitigating the uncertainties in investment decisions. It's about protecting your trading capital from excessive losses and ensuring you can survive to trade another day. Key concepts in risk management include: Position sizing: Determining how much of your capital to risk on each trade Stop-loss orders: Predetermined points at which you'll exit a losing trade Risk-reward ratio: The potential profit of a trade compared to its potential loss Diversification: Spreading risk across different assets or strategies Effective risk management is like wearing a seatbelt while driving. It won't prevent accidents, but it can significantly reduce the damage when they occur. 🔵 THE MYTH OF WIN RATE Many novice traders believe that a high win rate is the holy grail of trading. After all, if you're winning most of your trades, you must be making money, right? Not necessarily. Consider this example: Over 100 trades: Trader A: (90 x $100) - (10 x $1000) = $9000 - $10000 = -$1000 (Loss) Trader B: (40 x $300) - (60 x $100) = $12000 - $6000 = $6000 (Profit) This demonstrates that a high win rate doesn't guarantee profitability if your risk management is poor. 🔵 HOW RISK MANAGEMENT CONTRIBUTES TO PROFITABILITY Effective risk management contributes to profitability in several ways: 1. Capital Preservation: By limiting losses on each trade, you ensure that you don't deplete your trading capital during inevitable losing streaks. 2. Maximizing Gains: Proper risk management allows you to size your positions appropriately, maximizing gains when your analysis is correct. 3. Emotional Stability: Knowing that your risk is controlled reduces stress and emotional decision-making, leading to better trading choices. 4. Consistency: A solid risk management strategy provides a structured approach to trading, leading to more consistent results over time. 🔵 RISK-REWARD RATIO The risk-reward ratio is a fundamental concept in risk management. It compares the potential profit of a trade to its potential loss. For example, a risk-reward ratio of 1:3 means you're risking $1 to potentially make $3. Here's why it's crucial: A favorable risk-reward ratio allows you to be profitable even with a lower win rate. It forces you to be selective with your trades, only taking those with the best potential outcomes. Example: (40 x 2) - (60 x 1) = 80 - 60 = 20 (units of profit) 🔵 RISK-REWARD AND WIN RATE CHEATSHEET Understanding the relationship between risk-reward ratios and win rates is crucial for long-term profitability. Here's a quick reference guide to help you visualize how different combinations affect your overall results: 1:1 Risk-Reward Ratio - Breakeven Win Rate: 50% - To be profitable: Win rate must exceed 50% 1:2 Risk-Reward Ratio - Breakeven Win Rate: 33.33% - To be profitable: Win rate must exceed 33.33% 1:3 Risk-Reward Ratio - Breakeven Win Rate: 25% - To be profitable: Win rate must exceed 25% 1:4 Risk-Reward Ratio - Breakeven Win Rate: 20% - To be profitable: Win rate must exceed 20% Key Takeaways: Higher risk-reward ratios allow for profitability with lower win rates Consistently achieving risk-reward ratios above 1:3 can lead to substantial profits even with win rates below 50% Always consider both win rate and risk-reward ratio when evaluating a trading strategy Remember: A high win rate with poor risk management can still result in overall losses Use this cheatsheet as a quick reference when planning your trades and assessing your overall trading strategy. It reinforces the importance of maintaining favorable risk-reward ratios in your trading approach. 🔵 MATHEMATICAL DEMONSTRATION Let's look at a more detailed example to show how risk management impacts profitability: Scenario 1 (Poor Risk Management): Win Rate: 60% Risk per trade: 5% of capital Reward per trade: 5% of capital Starting Capital: $10,000 Number of trades: 100 Result after 100 trades: 60 winning trades: 60 x ($10,000 x 5%) = $30,000 40 losing trades: 40 x ($10,000 x 5%) = $20,000 Net Profit: $30,000 - $20,000 = $10,000 Ending Capital: $20,000 Scenario 2 (Good Risk Management): Win Rate: 40% Risk per trade: 1% of capital Reward per trade: 3% of capital Starting Capital: $10,000 Number of trades: 100 Result after 100 trades: 40 winning trades: 40 x ($10,000 x 3%) = $12,000 60 losing trades: 60 x ($10,000 x 1%) = $6,000 Net Profit: $12,000 - $6,000 = $6,000 Ending Capital: $16,000 Despite a lower win rate, Scenario 2 still results in significant profit with much lower risk to the trading account. 🔵 PRACTICAL TIPS FOR IMPLEMENTING RISK MANAGEMENT 1. Always use stop-loss orders: Determine your exit point before entering a trade and stick to it. 2. Follow the 1% rule: Never risk more than 1% of your trading capital on a single trade. 3. Calculate position sizes based on your stop-loss: Adjust your position size so that if your stop-loss is hit, you only lose the predetermined amount. 4. Maintain a favorable risk-reward ratio: Aim for a minimum of 1:2, preferably 1:3 or higher. 5. Diversify your trades: Don't put all your capital into one trade or one type of asset. 6. Keep a trading journal: Track your trades to identify patterns and areas for improvement in your risk management. 🔵 CONCLUSION While a good win rate is certainly desirable, it's clear that effective risk management is the true foundation of trading success. By focusing on controlling your risk, you can achieve profitability even without an exceptionally high win rate. Remember, the goal in trading isn't to be right all the time—it's to be profitable over time. Prioritize risk management in your trading strategy, and you'll be well on your way to long-term success in the markets. Take action now: Review your current trading approach and assess how you can improve your risk management strategies. Your future trading self will thank you!

Education

Unlocking the Trading Edge It's all about probabilities! 🎲 Understanding probabilities is essential for success in trading. Here are a couple of examples: 1️⃣ Example 1: Risk Management When managing risk, I assess the probability of a trade going in my favor versus the probability of it going against me. By using proper position sizing, damage control techniques (or stop-loss orders), technical pattern recognition and sentiment assessment, I aim to ensure that even if some trades result in losses (through washing), the overall probability favors profitable outcomes. 2️⃣ Example 2: Technical Analysis In technical analysis, I don't expect every trade setup to be a guaranteed winner. Instead, I focus on identifying high-probability setups with a either a favorable sentiment bias with the trend or an over-extended mean reversion opportunity. By combining technical indicators, chart patterns, and confluence factors, I aim to stack the odds in my favor every single time. By understanding that forex trading is about probabilities, I don't let individual trade outcomes affect my confidence. I know that even with a winning edge, there will be losing or damage control trades along the way. What matters is consistently executing my strategy with discipline and sticking to my edge in order to allow for the law of averages to play out. Been doing this for almost 10 years now. Teaching it every day to my students, who see this edge play out over time as I share my trading with them. Remember, forex trading is not about being right all the time, but rather about making trades that have a higher probability of success and managing risk effectively. Embrace the probabilities, stick to your trading plan, and focus on the long-term results. Here's to profitable trading!

Education

Demo Account Will Not Make You a PRO TRADER Hey traders, In this article, we will discuss demo account trading . We will discuss its importance for newbie traders and its flaws. ➕ Pros: Demo account is the best tool to get familiar with the financial markets . It gives you instant access to hundreds of different financial instruments. With a demo account, you can learn how the trading terminal works . You can execute the trading orders freely and get familiar with its types. You can get acquainted with leverage, spreads and volatility. Trading on paper money, you do not incur any risks , while you can see the real impact of your actions on your account balance. Demo account is the best instrument for developing and testing a trading strategy , not risking any penny. The absence of risk makes demo trading absolutely stress-free. ➖ Cons: The incurred losses have no real impact , not causing real emotions and pressure, which you always experience trading on a real account. Your performance (positive or negative) does not influence your future decisions. Real market conditions are tougher. Demo accounts execute the orders a bit differently than the real ones. That is clearly felt during the moments of high volatility, with the order slippage occurring less often and trade execution being longer. Trading with paper money allows you to trade with the sums being unaffordable in a real life, misrepresenting your real potential gains and providing a false confidence in success. Even though we spotted multiple negative elements of demo trading, I want you to realize that it still remains the essential part of your trading journey and one of the main training tools. You should spend as much time on demo trading as you need to build confidence in your actions, only then you can gradually switch to real account trading.

Education

by VasilyTrader

How I Stay Organized and Efficient During My Morning Routine Good morning, traders! ☕️ As I gear up for the trading session, here's how I stay organized and efficient during my morning routine: 1️⃣ Plan the night before: I prep my trading station, review market news, and outline my trading goals before calling it a day. This sets a clear roadmap for the morning and reduces decision fatigue. 2️⃣ Start with a ritual: I kick-start my morning with a ritual that helps me get focused and energized. Whether it's meditation, visualization, exercise, or enjoying a cup of coffee/tea, this routine primes my mind for the challenges ahead. 3️⃣ Time blocking: I allocate specific time slots for key activities like fundamental and sentiment research, top down technical analysis, bias matrices, reviewing trade setups, and analyzing charts. This helps me stay on track, avoid distractions, and make the most of my pre-session hours. 4️⃣ Utilize checklists: I have a checklist that outlines essential tasks like reviewing economic data, assessing overnight market developments, rebalancing portfolio and updating my watchlist. If I have anything specific I need to focus on that session, I will take note too. This ensures I don't miss important steps or actions/tasks. 5️⃣ Stay organized digitally: I leverage technology tools like trading journals, note-taking apps, and calendar reminders to keep track of my trade ideas, record observations, and stay organized. This digital approach streamlines my workflow most of the time. 6️⃣ Focus on self-care: Prioritizing self-care is vital for optimal performance. I make sure to nourish my body with a healthy breakfast, hydrate adequately (especially important during the extended heat waves I experience where I live), and take short breaks to relax and recharge. A balanced mindset is key to success. Finding an efficient morning routine is a personal journey. Experiment with different strategies, listen to your needs, and fine-tune your routine over time. Start your day right and set yourself up for trading success! 📈✨

Education

Taking On Discipline In Stages Once you have decided that you need discipline in your trading, knowing where to start can be difficult and overwhelming. There are many pieces to a trading plan, and it's easy to feel overwhelmed. You can break the task into manageable sections and master one discipline at a time, or focus on the the discipline you need. This approach makes the process more manageable and ensures that each aspect of your trading strategy is given the attention it deserves. Trading Plan Components: Each of these sections should have objective rules so there isn't any escape room. Method Rules Entry Rules Stop Rules trailing Stop Rules Exit Rules Journaling Trade Plan for TME, COIN Shane

Education

13:32

by ShaneBlankenship

Updated

Mindset and Beliefs: The Foundation of Successful Trading After 16 years of trading, I have come to realize that mindset and beliefs are critical to achieving consistent success in the markets. Through personal experience and countless hours of market analysis, I've discovered that the psychological aspect of trading often makes the difference between consistent gains and recurring losses. Today we will explore how your mindset and beliefs shape your trading performance and provide practical exercises that I've personally used to develop a winning trading mentality. Understanding Mindset and Beliefs - The Role of Mindset in Trading Your mindset encompasses your attitudes, beliefs, and emotional responses towards trading. It influences every decision you make, from the trades you choose to enter to how you react to losses and gains. A positive, growth-oriented mindset helps traders navigate the volatile nature of the markets, while a fixed, fear-driven mindset can lead to poor decision-making and emotional trading. Reflecting Beliefs in Trading Results One of the most profound realizations I've had is that the market will reflect your limiting beliefs back to you in the results you achieve. If you have negative beliefs about money, success, or your self-worth, these beliefs will manifest in your trading outcomes. For instance, if you subconsciously believe you are not deserving of success or wealth, you may find yourself making decisions that lead to losses, reinforcing those beliefs. Key Beliefs for Successful Trading To become a consistently profitable trader, it's crucial to cultivate empowering beliefs. Here are the key beliefs that have transformed my trading journey: The Market is Neutral: - The market does not act against you personally. It moves based on the collective actions of all participants. Believing the market is neutral helps you stay objective and not take losses personally. Accepting Uncertainty: - Embrace the uncertainty of trading. Each trade's outcome is unknown and should be viewed as part of a probability game. Accepting this uncertainty reduces emotional reactions to market movements. Deserving of Success and Wealth: - Develop the belief that you are deserving of success and allowed to make money. This positive self-concept can shift your actions and decisions, aligning them with wealth creation. Focus on Process Over Outcome: - Successful traders focus on following their trading process rather than fixating on individual trade outcomes. This helps in maintaining consistency and emotional stability. Practical Exercises to Develop a Positive Trading Mindset These techniques are not just theoretical. They are exercises I have practiced over the years, transforming me from a consistently losing trader to a consistently profitable one. Self-Awareness Journaling - Objective: Identify and challenge limiting beliefs. Exercise: Step 1: At the end of each trading day, write down any negative thoughts or beliefs you had during trading. For example, "I always lose money on Fridays" or "The market is out to get me." Step 2: Challenge these beliefs by questioning their validity. Ask yourself, "Is this belief based on facts or emotions?" Step 3: Replace negative beliefs with positive affirmations. For example, "I am continuously improving my trading skills" or "The market offers opportunities every day." Frequency: Daily - This exercise helped me recognize and reframe the negative thoughts that were sabotaging my trading efforts. Visualization Techniques - Objective: Build confidence and a positive mental image of trading success. Exercise: Step 1: Sit in a quiet place and close your eyes. Step 2: Visualize yourself successfully executing trades. Imagine each step, from analyzing the charts to placing the trade and seeing it reach your target. Step 3: Feel the emotions associated with successful trading, such as confidence and calmness. Frequency: Daily for 5-10 minutes - Regular visualization has ingrained a sense of confidence and calm, enabling me to approach each trading day with a clear and focused mind. Cognitive Reframing - Objective: Change negative trading experiences into learning opportunities. Exercise: Step 1: Reflect on a recent trading loss. Step 2: Write down the negative emotions and thoughts associated with the loss. Step 3: Reframe the experience by identifying what you learned from it. For instance, "I learned the importance of setting stop-loss orders." Frequency: After every significant trading loss - By reframing losses as learning opportunities, I've been able to grow and improve my trading strategies continuously. Meditation and Mindfulness - Objective: Enhance focus and emotional regulation. Exercise: Step 1: Find a comfortable sitting position. Step 2: Close your eyes and focus on your breathing. Step 3: If your mind wanders, gently bring your focus back to your breath. Frequency: Daily for 10-15 minutes - Meditation has been a game-changer for maintaining emotional control and staying calm during volatile market conditions. My Transformation in Trading Mindset Early in my trading career, I struggled with a fixed mindset, believing I wasn't cut out for trading due to a few early losses. I often felt the market was against me and reacted emotionally to trades, resulting in a cycle of poor decisions and further losses. My beliefs about money, success, and self-worth were reflected in my trading results. The market seemed to mirror my negative beliefs back to me, causing me to lose money consistently. By incorporating the exercises above, I gradually shifted my mindset: Self-Awareness Journaling helped me identify and challenge my belief that I would never be a successful trader. I replaced negative thoughts with affirmations of continuous improvement and opportunity. Visualization Techniques built my confidence by allowing me to mentally practice successful trades, which in turn manifested in real trading scenarios. Cognitive Reframing turned my losses into valuable learning experiences, reducing my emotional reactions and helping me grow as a trader. Meditation and Mindfulness enhanced my focus and emotional control, helping me stay calm during volatile market conditions. Over time, I developed a more positive, growth-oriented mindset. I started to see losses as part of the learning process and focused on following my trading plan diligently. This transformation in mindset led to more consistent trading performance and increased profitability. The market began to reflect my new, positive beliefs back to me in the form of consistent trading gains. Conclusion Your mindset and beliefs form the foundation of your trading success. By developing a positive, growth-oriented mindset and challenging limiting beliefs, you can enhance your trading performance. The practical exercises outlined above provide a roadmap for transforming your mindset and achieving greater consistency and success in trading. Remember, the journey to mastering trading psychology is continuous. Stay committed to these practices, and you'll gradually build the mental resilience and confidence needed to thrive in the markets. These techniques have been instrumental in my journey from a consistently losing trader to a consistently profitable one. I believe they can do the same for you.

Education

Thinking about system hopping while learning to trade?Thinking about system hopping while learning to trade? Here are some of the thoughts I transmit to my students on the implications: 1️⃣Consistency is key: Jumping from one trading system to another can hinder your progress. Developing expertise requires time, practice, and disciplined execution of a proven strategy. Stick to a system that resonates with you and give it a fair chance. Trading is all about probabilities and you need to allow for enough data to let the edge manifest itself over time. 2️⃣Understanding market dynamics: Each trading system is designed to capitalize on specific market conditions. By frequently switching systems, you might miss out on understanding the nuances of different market environments and the system's effectiveness within them. 3️⃣Emotional roller-coaster: Constantly switching systems can lead to emotional turmoil and indecision. Building confidence in your trading approach takes time. Sticking to one system allows you to master it and navigate market fluctuations with a steady mindset. If you keep changing you will eventually lose your money, your mind... and your way. 4️⃣Learning curve delays: Switching systems resets your learning curve. Consistently studying and fine-tuning one strategy helps you grasp its intricacies, identify potential pitfalls, and develop strategies to overcome them. Embrace the learning process. Think about how long it takes to learn something properly. Now imagine resetting constantly back to zero. 5️⃣Data-driven evaluation: Rather than system hopping, analyze your trading performance systematically. Keep a trading journal, review your trades, identify areas for improvement, and make adjustments within your chosen system. Data-driven decisions yield better results. Remember, finding success in trading requires discipline, persistence, and a well-executed plan. Avoid the temptation of quick fixes and stay committed to mastering your chosen system. 📈💸

Education

Discover How Thinking Like a Consultant Can Improve Your Trades █ Self–other decision making and loss aversion You might think that I have discussed this topic in depth before, and you would be right. However, there is still much more to explore. This article delves into an excellent research paper by Evan Polman, which examines changes in decision-making behavior when choices are made for oneself versus for others. By studying self-other decision-making, we can uncover varying degrees of loss aversion and gain insights to enhance trading strategies and risk management practices. █ Results Polman's research reveals that individuals exhibit lower levels of loss aversion when making decisions for others compared to themselves. The study found that people are more willing to take risks and are less sensitive to potential losses when the consequences affect others rather than themselves. This reduction in loss aversion is attributed to increased psychological distance and a more abstract level of thinking when making decisions on behalf of others. █ How Understanding Self–Other Decision Making Can Enhance Your Trading Strategies In the dynamic world of trading, making the right decision at the right time is crucial. Yet, how often do we consider the psychological underpinnings that influence these decisions? Recent research on self-other decision making and loss aversion offers valuable insights that can transform our approach to trading and investment management. █ Making Decisions for Yourself vs. Others A study by Evan Polman from New York University found that people make different decisions for themselves compared to when they make decisions for others. The study showed that we tend to be less afraid of losses when deciding for others. This is known as having less "loss aversion." Loss aversion means that people usually fear losing money more than they enjoy gaining the same amount. For example, losing $100 feels worse than gaining $100 feels good. This fear can make us overly cautious and miss out on good opportunities. █ Psychological Distance and Construal Level Theory According to the construal level theory (CLT) proposed by Trope and Liberman, the psychological distance between an individual and an event affects how they mentally construe that event. Greater psychological distance leads to higher-level, more abstract thinking, while lesser distance results in lower-level, more concrete thinking. When making decisions for others, the increased psychological distance can lead to more abstract thinking, reducing the emotional impact of potential losses. This shift in perspective can decrease loss aversion, as decision-makers focus more on long-term outcomes and broader goals rather than immediate losses. █ What This Means for Traders Less Fear of Losses When Trading for Others: When you trade for someone else, like giving advice to a friend, you’re less likely to be overly cautious. This can help you make more balanced decisions and potentially increase profits. Psychological Distance: When deciding for others, you think more abstractly and are less emotionally involved. Try to create this psychological distance when trading for yourself by imagining you’re making the decision for someone else. This can help you stay calm and make better choices. Better Risk Management: Knowing that you’re less afraid of losses when trading for others can help you manage risks better. Use this awareness to avoid being too conservative and missing out on profitable trades. █ Practical Tips for Traders Think Like a Consultant: When trading for yourself, pretend you’re advising a friend. This can help you stay objective and make better decisions. Collaborate: Discuss your trading ideas with others. Getting different perspectives can help reduce individual biases and improve your strategy. Review Your Trades: Regularly look back at your trades to see if you’re being too cautious. Learn from your mistakes and successes to improve future decisions. Use Tools: Use trading tools and software that help you analyze risks and rewards clearly. These tools can support your decision-making process. █ Reference Polman, E. (2012). Self–other decision making and loss aversion. Organizational Behavior and Human Decision Processes, 119(2), 141-150. doi:10.1016/j.obhdp.2012.06.005 ----------------- Disclaimer This is an educational study for entertainment purposes only. The information in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell securities. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on evaluating their financial circumstances, investment objectives, risk tolerance, and liquidity needs. My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!

Education

Managing Portfolio Drawdowns Effectively Drawdowns, or peak-to-trough declines in portfolio value, are inevitable in investing and portfolio trading. However, managing these drawdowns effectively can significantly enhance long-term returns and reduce stress for investors and traders alike. 1️⃣ Implementing Stop-Loss Strategies Stop-loss orders are one of the most straightforward and effective ways to manage drawdowns on long term investment portfolios. These orders automatically sell a security/asset when its price falls to a predetermined level, thus limiting potential losses. Example: If you hold a long position in EUR/USD at 1.2000 and set a stop-loss order at 1.1950, your maximum loss is limited to 50 pips. By consistently applying stop-loss orders, you can prevent small losses from escalating into significant drawdowns. 2️⃣ Utilizing Trailing Stops Trailing stops are a dynamic form of stop-loss orders that adjust as the price moves in your favor. This allows you to lock in profits while still providing downside protection. Example: If you set a trailing stop 100 pips below the current market price for a long position in gold futures, the stop price will move up as the market price increases. If gold rises from $2,300 to $2,350, the trailing stop will adjust from $2,200 to $2,250, thus protecting your gains. 3️⃣ Damage Control Hedging Hedging involves taking offsetting positions in different assets (or sometimes on the asset itself) to mitigate risks. For mixed portfolios, this can include using instruments across forex, commodity, or indices to hedge against adverse price movements on any given position. Example: If you have a substantial long position in crude oil and expect short-term volatility, you can buy put options on crude oil futures or take a position in an inversely correlated asset. This hedge will protect you from downside risk while allowing you to benefit from potential upside movements. 4️⃣ Risk Parity Allocation Risk parity aims to allocate capital based on the risk contribution of each asset, rather than traditional capital allocation. This approach ensures that each asset contributes equally to the portfolio's overall risk, thereby reducing the impact of any single asset's drawdown. Example: In a portfolio containing forex, commodities, and indices, you would adjust the position sizes so that the volatility of each position contributes equally to the portfolio's total risk. This might mean reducing exposure to more volatile assets like commodities and increasing exposure to less volatile indices. 5️⃣ Diversification Across Uncorrelated Assets Diversification is a fundamental risk management strategy that involves spreading investments and trades across different assets to reduce the overall risk. Including uncorrelated assets in your portfolio can significantly reduce drawdowns. A portfolio diversified with forex pairs, commodities like gold and crude oil, and equity indices can weather market turbulence better than a concentrated portfolio. 6️⃣ Volatility Targeting Volatility targeting involves adjusting portfolio allocation to maintain a consistent level of volatility. This strategy helps in managing drawdowns by scaling exposure up or down based on market volatility. Example: If market volatility increases, you reduce your positions in forex, commodities, and indices to keep overall portfolio volatility at a target level, such as 10%. Conversely, if volatility decreases, you can increase your exposure. This approach helps in avoiding significant drawdowns during volatile periods. 7️⃣ Regular Portfolio Rebalancing Regular rebalancing involves adjusting the weights of assets in a portfolio to maintain a desired allocation. This ensures that no single asset class disproportionately affects the portfolio’s performance, reducing unwanted overexposure. You can do the same within asset classes themselves, by looking at currency exposures individually within the FX portion of your portfolio. Example: If your target allocation is 40% forex, 30% commodities, and 30% indices, and forex performs exceptionally well, growing to 50% of the portfolio, rebalancing would involve selling some forex positions and buying more commodities and indices to restore the original allocation. This practice not only locks in profits but also reduces the risk of drawdowns from overexposure to a single asset class. Effective drawdown management is crucial for maintaining a resilient and profitable investment portfolio. By implementing techniques such as stop-loss strategies, trailing stops, hedging and washing, risk parity allocation, diversification, volatility targeting, and regular rebalancing, you can significantly mitigate risks and enhance long-term returns.

Education

Looking to start your day with an edge in trading?Good morning FX traders! 🌍 Looking to start your day with an edge in currency trading? Here's the best way to read market sentiment every morning: 1️⃣Economic calendar: Begin by checking the economic calendar for scheduled releases of important economic indicators, such as interest rate decisions, employment data, inflation figures, and GDP reports. These events can shape currency sentiment. Compare overnight data to your previous session's baseline bias. 2️⃣Central bank communications: Monitor upcoming and review overnight statements, speeches, and press conferences from central banks, especially those of major economies. Central bank actions and policymakers' comments can heavily influence currency market sentiment. Here too, compare your new bias to previous baseline to see if anything has changed. 3️⃣Technical analysis: Utilize technical tools like support and resistance levels, trendlines, and Fibs to analyze currency pairs' price action. Patterns and key indicators like RSI, Stochastics or MACD can offer insights into market sentiment. Reading price action momentum is important in order to come up with the best trade ideas. TradingView makes this extremely easy! 4️⃣Sentiment indicators: Keep an eye on sentiment indicators specifically tailored for currency markets, such as the COT report (Commitments of Traders), which reveals the positioning of large traders in futures markets. It can indicate prevailing sentiment. You can also use Central Banks odds trackers (such as FEDwatch), the FEAR/GREED meter and your own risk reading markers (I mostly use equities, Yen, commodity currencies and bond yields). 5️⃣News wires and social media: Follow trusted news wires and forex-focused social media accounts to stay updated on geopolitical developments, breaking news, and market chatter. This can provide valuable context and sentiment analysis, especially if you cannot afford a squawk service. Remember, currency market sentiment is influenced by a multitude of factors. Stay well-informed, evaluate various sources, and trust your own analysis. Adapt swiftly and make prudent trading decisions. Wishing you profitable trades this week!

Education

Incorporating Alternative Investments into Portfolio Builds Incorporating alternative investments such as private equity, hedge funds, and real assets can be a rewarding strategy for diversification and enhancing returns. These alternative assets provide unique risk-return profiles that can complement traditional investments in forex, commodities, and indices. 1️⃣ Understanding the Role of Alternative Investments Alternative investments can play an important role in diversification due to their low correlation with traditional asset classes. By including assets like private equity, hedge funds, and real assets, you can reduce overall portfolio volatility. For example, during the 2008 financial crisis, many hedge funds and private equity investments outperformed traditional equities, providing a buffer against market downturns. Understanding the unique risk-return characteristics of each alternative investment is essential for effective integration. 2️⃣ Analyzing Historical Performance and Risk To effectively incorporate alternative investments, it's important to analyze their historical performance and risk profiles. For instance, private equity has historically offered higher returns than public equities, but with greater risk and illiquidity. Hedge funds, on the other hand, provide diverse strategies such as long-short equity, market neutral, and global macro, each with different risk-return dynamics. Real assets like real estate and infrastructure provide stable cash flows and inflation protection, but come with their own set of risks. 3️⃣ Diversification Strategies Diversification is the cornerstone of portfolio construction. When integrating alternatives, consider spreading investments across different types of alternative assets. For example, combining private equity with hedge funds and real assets can help mitigate the risk associated with any single asset class. A diversified portfolio might include a mix of growth-oriented private equity, income-generating real estate, and tactical hedge fund strategies. 4️⃣ Assessing Liquidity Needs One of the main challenges with alternative investments is liquidity. Private equity and real assets typically have long lock-up periods, whereas hedge funds may offer more liquidity but still not as much as traditional assets. Assess your liquidity needs and time horizon before allocating significant portions of your portfolio to these investments. For example, an investor with a long-term horizon might allocate more to private equity, while those needing shorter-term liquidity might prefer hedge funds. 5️⃣ Evaluating Manager Expertise and Due Diligence The success of alternative investments often hinges on the expertise of the fund managers. Conduct thorough due diligence by evaluating the manager’s track record, investment strategy, and risk management practices. For example, when selecting a private equity fund, consider the fund’s history of successful exits, management team’s experience, and alignment of interests. Similarly, for hedge funds, assess the manager's ability to generate alpha across different market conditions. 6️⃣ Tactical Asset Allocation Integrating alternative investments requires a dynamic approach to asset allocation. Tactical asset allocation involves adjusting the portfolio mix based on market conditions and opportunities. For instance, during periods of low interest rates and high equity valuations, increasing exposure to private equity and real assets might provide better returns. Conversely, in volatile markets, hedge funds employing market neutral or global macro strategies can offer downside protection. 7️⃣ Monitoring and Rebalancing Regular monitoring and rebalancing are essential to maintain the desired risk-return profile of the portfolio. Set predefined thresholds for rebalancing to ensure the portfolio stays aligned with your investment goals. For example, if the allocation to private equity exceeds the target due to strong performance, consider rebalancing by allocating more to underperforming or undervalued assets like certain commodities or forex positions. This disciplined approach helps in maintaining the optimal balance between traditional and alternative investments. Incorporating alternative investments into a portfolio that includes forex, commodities, and indices offers a pathway to enhanced diversification and potential returns. By understanding the unique characteristics of private equity, hedge funds, and real assets, investors can craft a balanced and resilient portfolio. Remember to conduct thorough due diligence, assess liquidity needs, and regularly monitor and rebalance the portfolio to adapt to changing market conditions.

Education

Unlock the Secrets of Gold Trading: Pericles' Ancient Wisdom In this video, we explore the profound perspectives on fear from historical figures like Pericles and modern thinkers like Ryan Holiday. Pericles, the esteemed Athenian statesman, saw fear as a natural emotion that should not paralyze us. He believed in confronting fear with courage, rational thought, and strategic planning, using it as a tool for effective decision-making. Ryan Holiday, drawing on Stoic philosophy in his works, echoes these sentiments with stories of historical figures who turned fear into fuel for success. He recounts how John D. Rockefeller faced market crashes with calm calculation and how Theodore Roosevelt overcame health challenges by embracing adversity. Both Pericles and Holiday teach us that fear, when managed correctly, can become a powerful ally. By acknowledging fear, confronting it with rationality and courage, and using it to sharpen our focus and strategy, we can transform challenges into opportunities for growth and success. This approach is especially relevant in the realm of trading, where mastering fear can lead to better decision-making and greater resilience. Key Levels and Patterns: Higher Highs (HH) and Higher Lows (HL): The chart shows a series of higher highs (HH) and higher lows (HL), indicating an overall uptrend. This pattern suggests that the bullish momentum is still in play. Ascending Channel: There is a well-defined ascending channel where the price has been moving upwards within parallel trendlines. This channel can act as a guide for potential support and resistance levels. Reversal Points (LQZ): 1-Hour LQZ / Reversal Point: Located at 2,429.190. This level is a potential area where price may reverse or find support. 4-Hour LQZ / Reversal Point: Located at 2,391.394. This level also serves as a significant support zone. Take Profit (TP) Levels: TP 1: 2,319.385 TP 2: 2,288.085 TP 3: 2,265.369 Recent Price Action: The price recently reached a higher high at around 2,458.755 and then pulled back slightly, indicating a potential short-term correction within the overall uptrend. The ascending channel suggests that if the price remains above the lower boundary of the channel, the uptrend is likely to continue. If the price breaks below the 1-hour LQZ / Reversal Point at 2,429.190, it could test the 4-hour LQZ / Reversal Point at 2,391.394. A further breakdown below this level might lead to the next support at TP 1. Analysis Summary: Bullish Scenario: The price could bounce from the current levels or the lower boundary of the ascending channel, aiming for new highs. Traders might look for buying opportunities near the support levels of the channel and reversal points. Bearish Scenario: If the price breaks below the identified reversal points and the ascending channel, it might signal a deeper correction, potentially heading towards the TP levels for possible buying opportunities at lower prices. By applying Pericles' wisdom of confronting fear with rationality and Ryan Holiday's insights on turning fear into strategic advantage, traders can approach these levels with a clear, disciplined mindset, making informed decisions even in volatile market conditions.

Education

16:55

How to start Trading!We (the discord mods) are trying to get a document going where people can look for advice on how to get started in trading, its not an easy question and certainly not an easy answer, but here we go :) Be prepared that to becoming a profitable trader you will need months (even years) of training and learning, but its worth the time! The beauty of Tradingview and its tools (Paper trading) is that you can learn it all for free. (All you need is time). You can demo trade for free, learn and experiance how the market moves, learn what you want to do later in life and learn all the nessessary tools you will need! We realize that certain information is maybe something that you dont agree first or you say "what? that cant be real?", but bear with us for the time being, go through this document and then decide! So, lets start with the first question for you: What lifestyle do you have at the moment? Why is that important? well, for each trade you need a few hours of preparation, and if you are a daytrader (intraday trader or scalper) then you trade each day (even multiple times) and each time you need preparation, can you do that? can you sit 4-6h infront of the computer everyday to analyse a trade? If not, we have other options for you.. for example swing trader or investor. What type of person are you? For example: if you decide to do scalping, be prepared to get more stressful situations then a daytrader. So it's important to figure out how you want to trade and what you can actually handle (the psychology in trading has a HUGE impact of your trading life.) If you go and test out some strategies and you realize that this is not for you, then you have a clear sign that you shouldnt explore this further. What type of assets can you trade? There are local laws that you have to follow in your country that may be restrictive to certain assets so you have to figure out what you can actually trade. There are plenty of assets outthere, you just have to explore them and search for a broker you can actually sign up with a KYC. For this, the best option is to go to Brokers and check them out until you find one that is allowed in your country. (Be careful with brokers not on tradingviews list, for example if you want to trade crypto but its not allowed in your country but you find some broker you can sign up, the problem comes once you want to withdraw and use the money in your country. your local bank is most likely not letting you do that.) Basics of Trading No matter what you decide to be (daytrader, scalper, investor..), you will need to learn the basics of all of them. Learn all the basic Terms such as: - Long / Short (Bullish / Bearish) - Bid / Ask (combined with spread below) - Crypto, Forex, CFD, Stocks, Options (Bonds, Shares, Indices...) - Market Order / Limit Order (Stoploss (SL), Profit Target (TP), Trailing) - Leverage - Margin / Balance - Spread / Slippage - Gaps - Ranges - Timeframe / Sessions And then there are the major Indicators: - RSI - MACD - Stochastics - Moving Averages (simple, exponential, smoothed, and so on..) - Price trends - Support and Resistance (Supply & Demand) - Volume I know, alot of you reading this go like "What? indicators are useless, price action is the real deal.." but thats not the point here, we are learning the basics of trading. The more you know the better you will be at trading. Knowledge is power. Also i would advice you to study the math behind them too, while you do that you learn how and why they act the way they do! Journal Yes, we all hate it but we all know why its good to do! :) The simplest method i find is to use the long/short tool of tradingview, write down the notes in a textfield and then hide it in the control-center of your drawings (rightclick into chart -> Object Tree) Do it! you won't regret it! Risk Reward This topic is something so many of you ignore and its one of the most important part of trading. You all heard the sentence "there is no trading without SL" and some of you may think "yeah, thats not true", but in the Risk Reward section you learn how and why this sentence is as true as it gets. you never, ever trade without SL because otherwise you cant calculate your risk. There is also the golden rule "Never risk more then 1% of your Money" and with an SL you can manage this sentence, without it, how can you even begin to manage this? you can't. (Yes, i know some of you risk 2-5%, but not me, im a firm believer you should never break this rule). If you risk 1% and lose 10 times in a row, you lost 10%. if your RR is 1:3, you need 4 wins to regain your losses. If you risk 2% and lose 10 times in a row, you lost 20%. if your RR is 1:3, you need 7 wins to regain your losses. ... you see where this goes, right? For this, and any other topic above, the best thing to use is the Search function on tradingview, input the title and read it all. (yes, all, yes it will take weeks, yes tahts what its all about) Psychology Okey, this one is a big one. not gonna lie, that will take the most time because we are all humans. you will experiance FOMO (fear of missing out), greed, rage, and so on... thats just normal. Thats the biggest reason to start journaling your trades, write down what you felt, why did you take a trade that you realize you shouldnt have in the first place? So, in psychology everyone needs to figure out how he/she is obviously, i can just tell you how i do it right now and what steps made the biggest impact: I do only 1:2 RR trades. - Yes, after 1:2 im out, i dont care if he goes to the moon, all i care is that im no longer in a trade (my mind plays all kinds of tricks while in a trade.) - Big impact! I only trade 1 asset. - I trade EURUSD all day long for years now. No, i dont look at others while im actively trading. - Big impact! I set and forget. - i put in my SL and TP and once im in the trade (or even set the limit order) im semi-afk from the charts. - I have 2 alerts on my tradingview, one for the TP and one for the SL. thats it. those few steps helped me a ton in my trading, and yes, they may not be for everyone but it is just a showcase of hwo you need to find something that works for you.

Education

by Swiss_Traders

Social Media - and its danger!Social Media... the part of the Internet that is very dangerous when it comes to promises, money, and wealth. We've all seen it: on social media, you can supposedly make millions in under 15 minutes. Pictures with a Lamborghini and a TradingView chart above it... Let's go through some thoughts new traders may not be aware of and how to look at them with a critical mind! (🚩 -> Red Flag) 📍 MetaTrader / Think or Swim / NinjaTrader / cTrader 📍 There are more, but let's focus on the more popular ones. Pictures of winning trades are useless when it comes to trading. Trading is done over years in a consistent manner, not over a few trades. Pictures of MT5, NT, or any other platform can easily be faked. You can set up your own little server for MetaTrader, play it out, and you have your fake trades. 📍 Fancy Cars / Travels / Houses 📍 Showing a fancy lifestyle is another big 🚩. All those people with fancy cars have leased or rented them for the image of being successful. It's to lure you in with false promises! (Although trading can be very fulfilling if you are willing to put in the work!) 📍 New Setup Every Few Weeks 📍 If a channel has a new setup every few weeks, this is only made for scamming new traders, not to have a setup that works. (Think about it, if you have a setup that works, why would you change?) Explore their profile, look for this pattern, and sometimes you will find it. Simple step :) 📍 Selling Courses / Mentorship 📍 You can learn all of trading for free. TradingView has a very nice paper trading feature that you can use and a very unique ideas section where you can find all the information you need! Here we come to a golden rule when it comes to starting trading: NEVER buy a course or mentorship. Never! You don't need it! (And also, TradingView's paper trading is free!) 📍 Very Basic Information Available Only 📍 Trading is hard; trading needs a lot of concepts fitting together like RR-System, Money Management, Multi-Timeframe Analysis. If you see a social media post with 1 chart with some boxes and another picture with a money screenshot, this is 100% fake. You need A LOT more than 1 chart and a lot more knowledge than you can ever show on even 3 charts. 📍 AI 📍 Oh, we all love AI, but I'm afraid that AI is not in the picture (yet). Pine can't code it, and the current state of "AI" is a "guessing" game. (AI just guesses what comes next, in the form of vectors... it's extremely complex, but it doesn't exist in trading.) 📍 Indicators 📍 Indicators are a very nice thing to have AFTER you have your strategy down, not before. There is no indicator that works on its own; you plug it in and it makes money... that doesn't exist! (Think about it critically: if that existed, why wouldn't we solve world hunger?) 📍 Typical Selling Point Sentences 📍 "Learn trading in 15 minutes" or "This is all you need" or "Only trade for 10 minutes a day" are the typical scam titles that you see, and with those, you know 100% they are fake. Trading is not done in 15 minutes, trading is hard work, and trading takes a long time to learn. There are no shortcuts. 📍 Things You Can Ask Them 📍 Typically speaking, they will not answer any of these questions because they can't. Like "How do you calculate your position size with your current RR setup?" This means they studied this, and you can be sure they didn't :) Or "How does leverage exactly work?" and like 99.99% of the YouTubers got it wrong. But a very nice thing to ask is a simple "Can I have a broker statement of your account?" and boom, they are gone. 🏆 Golden Rules 🏆 Never buy anything (you can learn 100% everything for free). Ask critical questions and follow up on them. Trading is hard; there is no 15-minute setup. Trading can't be 100% automated.

Education

by Swiss_Traders

What's in a Trading Plan? Here's All You Need to Include.Ready, set… plan? In this guide, we discuss why you need to plan your trading before trading your plan. Let’s roll. Table of Contents: »Importance of a Trading Plan »The Successful Trading Plan Doesn't Exi... »What's in a Typical Trading Day? »Markets, Strategies and Styles »Summary Venturing into trading without a plan is akin to setting sail on the ocean without a compass. Or taking the leap without looking first 😉. We can keep the metaphors rolling but if there’s one thing you must remember from this word salad of an article, it’s this: success in trading is possible with a plan. Without a plan, not so much. In this guide, we'll talk about the importance of creating a trading plan, what you should include in it, and how to follow it. 📍 Importance of a Trading Plan A trading plan is not just a list of dos and don’ts; it's the roadmap to trading success. Here's why it matters: ➡️ Streamlines Your Actions : Much like a roadmap, a trading plan outlines your objectives, time frames, strategies, and risk management techniques, and offers a clear path forward. ➡️ Limits Emotional Swings : By defining rules and parameters in advance, a trading plan helps to keep emotions in check, limiting impulsive actions that could lead to financial pitfalls. ➡️ Fosters Discipline : Sticking to a plan holds you accountable for your actions and allows you to see where you jump out of your rule book and into undisciplined FOMO-driven pump-chasing revenge trading. 📍 The Successful Trading Plan Doesn't Exi... Many traders believe that you can be successful by buying and selling random selections of stocks, forex pairs, or commodities. However, the reality is that the most — if not all — successful traders have one thing in common: a well-defined trading plan. Here's what makes for a successful trading plan: ☝🏽 Adaptability : A successful trading plan is not rigid but flexible, allowing for adjustments in response to changing market conditions. ☝🏽 Consistency : A plan helps you stay on track toward your goals as a trader, allowing you to stick to predefined rules and strategies, especially when things get hot and volatile. ☝🏽 Continuous Improvement : A successful trading plan is a work in progress. The more time you use it, the higher probability you will have to refine it as you drift along diverse assets, all swayed by different factors. 📍 What's in a Typical Trading Day? A typical trading day is a blend of preparation, execution, and reflection. And while you should leave room for new ideas, fresh approaches, and some surprises, there are mainstay components that you need to have in your trading plan. 📰 Reading the News : Staying in the know is always a good idea. For many successful traders, the first thing to do is check what’s the latest on the news front. Known as fundamental analysis, reading the news and doing your research will help you get a sense of investor sentiment. Moreover, you can stay ahead of the curve and anticipate big market moves by following the economic calendar. Lots of those sharp swings you see in forex or stocks are caused by regular data dumps such as the monthly US nonfarm payrolls report. The Federal Reserve’s decisions on interest rates or the monthly Consumer Price Index are also keys to anticipating volatility. And what better place to follow all that’s moving markets than the TradingView News section ? 📈 Following the Charts : if you’re here, this one won’t be too new to you. Chart reading, known as technical analysis, is one of the oldest ways to analyze anything — from stocks to crypto and even frozen orange juice. Think of a chart as your trading canvas. It’s your space to be creative, draft ideas, look for technical patterns and formations, and anticipate potential moves. Observing the chart and watching how prices behave will help you spot where a trend may form, extend, or reverse. Some of the most popular technical formations include double tops and bottoms, head and shoulders, cup and handle, and more. And some of the most popular technical indicators include the Simple Moving Average (SMA), the Relative Strength Index (RSI), and the Fibonacci sequence. All of that, and much more, is readily available for you almost anywhere you click on the TradingView platform. ⚒️ Work on Your Skills : Trading doesn’t have to glue you to the screen in constant monitoring of every blip. If you don’t see anything to trade, don’t trade just for the sake of it. Sometimes the best trading position is no position at all. Instead, use some of your idle time to build out your knowledge base. Grab some books on technical analysis or trading psychology. Or watch interviews of successful traders and investors and gain that educational edge to help you become a more aware, informed, and confident trader. 🏖️ Take a Break : Not everything you do needs to be related to productivity gains and trading improvement. Stare into space or read a great novel. Take your mind off trading and unwind, let the steam off, and recharge your batteries. Go out, enjoy a walk or do some people-watching. Taking time to zone out every now and then will help you get back to trading sharper, smarter, and more balanced. 📍 Markets, Strategies and Styles The world of trading is as diverse as it is dynamic, offering a flurry of markets, strategies, and trading styles to explore. Here's a glimpse into the landscape: 💹 Markets : Traders can choose from a variety of financial markets, including stocks , forex , and cryptocurrencies , each with its unique characteristics and opportunities. When you set out to create your trading plan, think carefully whether you want your portfolio to be concentrated into any one market or asset class. Or maybe you’d like to go for a diverse approach to trading and pull in assets from several markets. Knowing what your asset preference is will help you phase out markets so they don’t distract you. 🎯 Strategies : From technical analysis to fundamental analysis, you can adopt various strategies to identify trading opportunities and manage risk, ranging from trend following to mean reversion. News trading is a popular approach to markets as it allows you to bet on economic reports, geopolitical events, central bank updates, and more. On the other hand, technical traders tend to stick to the chart in efforts to gauge price movements and trends. Every chart tells a story. Deciphering it is the tough part. 🌈 Styles : Trading styles are equally important and they’re all tied to a specific time frame of holding your positions. If you’re more into short-term trading, you may pick scalping and target a few pips of gains before jumping out of your trade. Day trading and swing trading are two popular time-sensitive trading strategies that you may want to explore when building out your trading plan. 📍 Summary Your trading plan should be exactly that — yours. Tailor it to your specific goals, risk orientation, asset preference, and find out how it stacks up against market conditions. That way, you can navigate the markets with confidence and direction, instead of letting markets sway your decision making and lead you into uncharted waters. Embark on your trading journey armed with a well-crafted plan, and let it be your roadmap to trading success. 📣With that said, let us know in the comments: do you have a trading plan? What’s the most important element of it and are you always sticking to it?

Education

Embracing Failure: The Key to Unlocking Trading Success In the pursuit of trading mastery, the path is often littered with setbacks and failures. However, it's essential to recognize that these hurdles are not just obstacles but invaluable learning opportunities. Learning how to fail – and more importantly, learning from failure – is a critical step towards enhancing your trading success. This article explores the significance of embracing failure as a vital component of your trading education. ➡️ The Role of Failure in Trading Trading, by nature, involves uncertainty and risk. Even the most seasoned traders face losses; it's an inherent part of the game. However, the difference between successful traders and those who struggle lies in their response to failure. Successful traders view failures as feedback, using them as a springboard to refine strategies, hone skills, and fortify mental resilience. ➡️ Failing Forward The concept of "failing forward" means using setbacks as a catalyst for growth. Instead of letting failure deter your progress, it involves analyzing what went wrong, understanding the factors at play, and adjusting your approach accordingly. This mindset shift is crucial in trading, where the same mistake can be costly if repeated. ➡️ Lessons from Losses Every loss carries a lesson. It could be a flaw in your strategy, a gap in your market knowledge, or even an insight into your psychological biases. By meticulously reviewing your failed trades, you can uncover these lessons and apply them to avoid similar pitfalls in the future. Remember, in trading, experience is measured not just by your wins but also by how you navigate and learn from losses. ➡️ Some famous quotes Thomas A. Edison : " I have not failed. I've just found 10,000 ways that won't work. " Winston Churchill : " Success is stumbling from failure to failure with no loss of enthusiasm. " Michael Jordan : " I've failed over and over and over again in my life and that is why I succeed. " Henry Ford : " Failure is simply the opportunity to begin again, this time more intelligently. " J.K. Rowling : " It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all—in which case, you fail by default. " Oprah Winfrey : " Failure is another stepping stone to greatness. " Theodore Roosevelt : " The only man who never makes mistakes is the man who never does anything. " Albert Einstein : " A person who never made a mistake never tried anything new. " Coco Chanel : " Success is most often achieved by those who don't know that failure is inevitable. " Johnny Cash : " You build on failure. You use it as a stepping stone. " James Joyce : " Mistakes are the portals of discovery. " Samuel Beckett : " Ever tried. Ever failed. No matter. Try again. Fail again. Fail better. " Robert F. Kennedy : " Only those who dare to fail greatly can ever achieve greatly. " John C. Maxwell : " Fail early, fail often, but always fail forward. " Arianna Huffington : " Failure is not the opposite of success; it's part of success. " Abraham Lincoln : " My great concern is not whether you have failed, but whether you are content with your failure. " Dale Carnegie : " Develop success from failures. Discouragement and failure are two of the surest stepping stones to success. " Mary Kay Ash : " When you fail, you have to be able to say, 'I believe in myself enough to try again. '" Steve Jobs : " Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure — these things just fall away in the face of death, leaving only what is truly important. " Richard Branson : " Do not be embarrassed by your failures, learn from them and start again. " As you can see, you're not the only one who fails, the famous people quoted all had their fair share of fails. The fact that they did not give up is testimony to their eventual success. ➡️ Building Resilience Repeated exposure to failure, coupled with a constructive response, builds resilience. This mental toughness is invaluable in trading, helping you maintain composure and clarity in the face of market volatility. Resilient traders are better equipped to stick to their strategies, manage risks effectively, and seize opportunities without being swayed by emotional extremes. ➡️ Practical Steps to Learn from Failure ☝🏽 Keep a Trading Journal : Document every trade, including the rationale, outcome, and any emotions felt. Review this journal regularly to identify patterns in your failures. ☝🏽 Seek Feedback : Engage with a trading community or mentor. External perspectives can offer insights you might overlook. ☝🏽 Educate Continuously : Use failures as a cue to fill knowledge gaps. Whether it's technical analysis, market fundamentals, or trading psychology, there's always more to learn. ☝🏽 Develop a Growth Mindset : Cultivate the belief that your abilities and intelligence can grow with effort. This mindset encourages resilience and a positive attitude towards learning from failure. ➡️ Conclusion In trading, failure is not the opposite of success; it's part of the journey to success . By embracing your failures, analyzing them, and extracting lessons, you can continually improve your trading performance . Remember, every great trader has faced setbacks; what sets them apart is their ability to learn, adapt, and evolve from those experiences. So, next time you encounter a setback, see it as an opportunity to grow and inch closer to your trading goals. ❓How do you deal with failure? Do you let it get the best of you or do you dust yourself off and continue with renewed drive and energy? Share your experience in the comments below 👇🏽👇🏽👇🏽 Liked this article? Give it a boost 🚀 Follow for more! Thanks for reading, meet you in the comments.

Education

by Nico.Muselle

Mindfulness : The Zen approach to Trading Success Mindfulness is a practice that involves being fully present and engaged in the moment, aware of your thoughts and feelings without judgment. It originates from ancient Buddhist meditation practices but has been adopted widely in various forms across the world for its mental health benefits. In this post, we'll dive a bit deeper into what it is, where it comes from, and how it can help you when trading. Some practical tips and where to start are included as well, so keep on reading till the end. ❔ What is mindfulness? Mindfulness is like having a special tool that helps you pay close attention to what's happening right now, in this very moment, without wishing it was different. It's about noticing the little things - how your breath feels going in and out, the way your body feels sitting or standing, or even the sounds around you. It's all about being fully present and aware, like watching a movie and noticing every detail on the screen without getting distracted by thoughts of what you will do later. When you practice mindfulness, you're training your brain to focus on the present moment. It's like when you use a magnifying glass to look at something closely; you see a lot more detail than you would if you were glancing at it. Mindfulness works the same way, but instead of looking at something outside, you're paying close attention to your thoughts, feelings, and sensations. By practicing mindfulness, you learn to respond to situations with more calmness and less knee-jerk reactions. Instead of getting immediately upset or stressed by something, you give yourself a moment to decide how you want to react. It's like pressing a "pause" button, giving you the chance to choose your response. In simple terms, mindfulness changes your mindset by helping you live more in the "now," handle your emotions better and be kinder to yourself. It's like having a secret garden inside your mind where you can go to find peace, no matter what's happening around you. ❔ Where does it come from? Mindfulness, originating over 2,500 years ago within Buddhist meditation practices, transcends its ancient spiritual roots to address a universal human need: the desire to be fully present and aware in our lives. This practice, once cultivated in the serene landscapes of ancient India, has evolved beyond its religious confines, finding a place in various Eastern traditions such as Taoism and Zen Buddhism . Each culture enriched the concept, emphasizing awareness, intention, and compassion, and highlighting mindfulness's universal appeal and applicability. The late 20th century witnessed a significant cultural bridge as mindfulness made its way into the Western world, largely thanks to pioneers like Jon Kabat-Zinn . His approach through the Mindfulness-Based Stress Reduction (MBSR) program at the University of Massachusetts Medical School showcased mindfulness as a powerful tool for psychological well-being, stress reduction, and enhanced quality of life, irrespective of its religious origins. Today, mindfulness is embraced across diverse fields for its profound benefits, embodying a timeless practice that enhances the human experience by promoting a deeper connection with the present moment. ❔ Why Mindfulness for Trading? Why is mindfulness important for trading? Think of trading like a big room full of buttons. Each button can make you feel something different – happy when you win, sad or scared when you lose. Mindfulness is like having a special guide in this room. This guide helps you walk through without hitting every button by accident. It teaches you to notice the buttons (your feelings) without having to press them all. This way, you can feel happy about the good things and not feel too bad about the not-so-good things, keeping your mind steady no matter what happens. Mindfulness helps you stay calm and clear-headed. When you're trading, it's easy to get caught up in the excitement or worry a lot. Mindfulness is like putting on a pair of glasses that helps you see everything more clearly. You learn to pay attention to what's happening right now, instead of getting lost in thoughts about what might happen next or what happened before. This can help you make better decisions because you're thinking clearly and not just reacting to your feelings. It's like having a secret weapon that keeps you feeling good and thinking smart, no matter how wild the trading world gets. ❔ How does it help in trading? Emotional Regulation : Trading can be an emotionally charged activity, with the potential for high stress, anxiety, and strong emotional reactions to wins and losses. Mindfulness helps traders recognize their emotional states without becoming overwhelmed by them, promoting a balanced approach to decision-making. Improved Focus and Concentration : Mindfulness enhances the ability to concentrate on the task at hand. For traders, this means being able to focus on analyzing markets, monitoring trades, and making decisions without being distracted by irrelevant information or internal chatter. Reducing Impulsive Behavior : By fostering an increased awareness of thoughts and feelings, mindfulness can help traders avoid impulsive decisions driven by short-term emotions such as fear, greed, or frustration. This can lead to more disciplined and considered trading strategies. Stress Management : The practice of mindfulness has been shown to reduce stress levels. Given that trading can be a high-stress occupation, particularly during volatile market conditions, mindfulness can help traders manage stress, maintain clarity, and avoid burnout. Enhancing Decision Making : Mindfulness promotes a state of calm and clarity, allowing traders to evaluate situations more objectively. This can improve decision-making by reducing the likelihood of decisions being clouded by emotions or cognitive biases. Learning from Mistakes : Mindfulness encourages an attitude of non-judgmental observation. This perspective can help traders view losses or mistakes as learning opportunities rather than personal failures, cultivating a growth mindset that is crucial for long-term success. Incorporating Mindfulness into Your Trading Routine Here are a few things you can do to build in mindfulness routines in your trading day. 🧘🏽‍♀️Daily Meditation : Start with just 5 minutes a day. There's a plethora of apps like Headspace or Calm to guide you. 🤯Setting Intentions : Each morning, remind yourself of your trading goals and how you want to approach the day mindfully. 😤Mindful Breathing : Feeling overwhelmed? Pause and take ten deep breaths to reset your mental state. ⏸️Mindful Pauses : Before you click that trade button, take a moment to ensure this decision feels right in the gut. ✍🏽Reflective Journaling : End your day by jotting down your emotional journey alongside your trades. You might be surprised by the patterns you find. 📚 Get started: Interested in expanding your mindfulness repertoire? Here are some resources to get you started: Jon Kabat-Zinn's " Wherever You Go, There You Are " for mindfulness 101. ISBN 978-0-7868-8070-6 The Headspace Guide to Meditation and Mindfulness by Andy Puddicombe for those looking to integrate mindfulness into everyday life. ISBN-10 1250104904 10% Happier for meditation skeptics who want practical insights. ISBN-10 0062265423 ✅ Takeaway Who knew that the path to trading success could involve a bit of Zen? By embracing mindfulness, you're not just becoming a better trader; you're investing in your overall well-being. So, here's to trading mindfully and finding that inner peace amidst the market's chaos. Remember, in the world of trading, the best investment you can make is in yourself. 📣 Join the Conversation! Now, it's your turn! Have you tried integrating mindfulness into your trading routine? Notice any shifts in your decision-making or emotional resilience? Or maybe you've got some mindfulness tips and tricks of your own to share. Drop your stories, insights, or even your skepticism in the comments below. Let's build a community of mindful traders, learning and growing together. Can't wait to hear about your experience!

Education

by Nico.Muselle

What is the secret of success? 🌴 Being Wrong is OKAY!Here is the 5 TIPS TO DO with your mistakes: 1. Acknowledge Your Errors So often, we say things like, “It’s unfortunate, but market goes opposite me” or "SEC lawsuit crashed prices, so I lose" But blaming other people or minimizing your responsibility isn’t helpful to anyone. Before you can learn from your mistakes, you have to accept full responsibility for your role in the outcome. That can be uncomfortable sometimes, but until you can say, “I messed up,” you aren’t ready to change. 2. Ask Yourself Tough Questions While you don’t want to dwell on your mistakes, reflecting on them can be productive. Ask yourself a few tough questions: • What went wrong? • What could I do better next time? • What did I learn from this? Write down your responses and you'll see the situation a little more clearly, sometimes from different side. Seeing your answers on paper can help you think more logically about an irrational or emotional experience. 3. Make A Plan (checklist) Beating yourself up for your mistakes won’t help you down the road. It’s important to spend the bulk of your time thinking about how to do better in the future. Make a plan that will help you avoid making a similar mistake. Be as detailed as possible but remain flexible since your plan may need to change. Creating checklist of trading criterias (for entry, for stop loss, for target etc) can be very helpful. Make sure you have it in front of your eyes before open a trade or close it. 4. Make It Harder To Mess Up Don’t depend on willpower alone to prevent you from taking an unhealthy choice or from giving into immediate gratification. Increase your chances of success by making it harder to mess up again. To prevent yourself from having instant loss split your deposit to several accounts and make sure you using only small part of it for "intraday" or "scalping" trading. Additionally split your deposit for Savings account and Spot trading. And if you new to trading use only about 15% of your investment to learn, and don't touch other part untill you gain good experience. 5. Create A List Of Reasons Why You Don’t Want To Make The Mistake Again Sometimes, it only takes one weak moment to indulge in something you shouldn’t. Creating a list of all the reasons why you should stay on track could help you stay self-disciplined, even during the toughest times. Create a list of all the reasons why you shouldn’t enter the market, it could be your emotional state, willing to revenge on the market or might be a price action setup, fundamentals or something else. It will help to resist the temptation to enter bad trade. Self-discipline is like a muscle. Each time you delay gratification and make a healthy choice, you grow mentally stronger. Cycle of Trading Psycology tips: HOW TO BALANCE YOUR LIFE AND TRADING 5 TIPS FOR SMALL ACCOUNTS Savings Account GAINS explained Simple Investing Strategy, Affordable for all! Best regards, Artem Shevelev

Education

Updated

11 22 33 44 55 66 77 88 99 1010 1111 1212 1313 1414 1515 1616 1717 1818 1919 2020 2121 2222 2323 2424 2525 2626 2727 2828 2929 3030 3131 3232 3333 3434 3535 3636 3737 3838 3939 4040 4141 4242

Love in every #TradingView

90M+

Traders and investors use our platform.

#1

Top website in the world when it comes to all things investing.

1.5M+

Mobile reviews with 4.9 average rating. No other fintech apps are more loved.

10M+

Custom scripts and ideas shared by our users.

TradingView Chart on Instagram @tradingview

@tradingview

TradingView Chart on Instagram @kryptoshroom

@kryptoshroom

TradingView Chart on Instagram @mytradingsetup

@mytradingsetup

TradingView Chart on Instagram @sinasfx

@sinasfx

TradingView Chart on Instagram @sopht_fx

@sopht_fx

TradingView Chart on Instagram Hasnat Ali 🇵🇰❤️@iamhasnatali

Hasnat Ali 🇵🇰❤️@iamhasnatali

TradingView Chart on Instagram @matg.fxt

@matg.fxt

TradingView Chart on Instagram @tradingview

@tradingview

TradingView Chart on Instagram @forex.alex

@forex.alex

TradingView Chart on Instagram @_dalton16

@_dalton16

TradingView Chart on Instagram @investment_expertt

@investment_expertt

TradingView Chart on Instagram @fx_bitcoin_expert11

@fx_bitcoin_expert11

TradingView Chart on Instagram @jb_fx_

@jb_fx_

TradingView Chart on Instagram @ejacobsfx

@ejacobsfx

TradingView Chart on Instagram @chartfeed

@chartfeed

TradingView Chart on Instagram @sethsickness

@sethsickness

TradingView Chart on Instagram @mrfrankly__

@mrfrankly__

TradingView Chart on Instagram @rajpalgore

@rajpalgore

Whatever the trade

Here's why Here's why

Products

Supercharts
Pine Script™
Stock Screener
ETF Screener
Bond Screener
Forex Screener
Crypto Coins Screener
Crypto Pairs Screener
DEX Pairs Screener
Stock Heatmap
ETF Heatmap
Crypto Heatmap
Economic Calendar
Earnings Calendar
Sparks
News
TradingView Desktop
Mobile app
CME Group futures
Eurex futures
US stocks bundle

Company

About
Features
Pricing
Social network
Wall of Love
Athletes
Manifesto
Careers
Blog
Security vulnerability
Status page
Terms of use
Disclaimer
Privacy policy
Cookies policy
Media kit
Accessibility statement
Tarot cards for traders
TradingView merch store

Community

Refer a friend
Ideas
Scripts
House rules
Moderators
Pine Script™ Wizards
Chat
Your festive recap

For business

Widgets
Advertising
Charting libraries
Lightweight Charts™
Advanced Charts
Trading Platform
Brokerage integration
Partner program
Education program

Select market data provided by ICE Data Services Select reference data provided by FactSet. Copyright © 2024 FactSet Research Systems Inc. © 2024 TradingView, Inc. US phone number 833 247 1523