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My Interview with US Successful Trader Peter L. BrandtThe Internet has truly made the world a smaller and a more accessible place. In 2013, I stumbled across world-renown trader, author and owner Peter L. Brandt, on Twitter and his blog. I sent him a request for him to join one of the most elite South African trader groups on Skype. We had some fantastic chats over the next couple of days. There are words of wisdom that are far too essential to let them slip by. I’ve collated some of the timeless lessons Peter L. Brandt shared with me. I hope you enjoy the interview and find it useful for your trading career. Timon: I’ve never met a trader who trades long time-frames on Forex and commodities, do you believe technical charts can be used to predict market movements? Peter: I absolutely positively do NOT believe I can predict the markets. I absolutely positively do NOT believe charts are predictive tools any more than a MACD, COT, Moving Averages or anything else. My win rate is historically around 38%, although I made some changes to the system in an attempt to boost that to 45%. Generally, 100% of my profits come from 10% of my trades. It is a matter of trying to keep the other 90% from being a net loss. Timon: I agree with no one being able to predict the market movements, however, I believe in probability predictions. If there is a breakout to the upside, there is a higher probability for the market to continue moving in the direction of the breakout. What is your take on when unfavourable markets bring about a 15% or more drawdown on your portfolio? Peter: Drawdowns come with the territory. The question to always ask for discretionary traders is, whether their trading rules are out of sync with the markets? If they are out of sync with their rules? or both? If I know the problem are my rules being out of sync with the markets, I will never stop trading because I cannot time my rules. I may cut back on the size during a losing period. Timon: As my trading mentor and dear friend Igor Marinkovic says, “Your biggest drawdown is still to come and so is your biggest winning streak.” What are your thoughts on risk management principles? Peter: As a general rule — very general rule — an excellent trader with a great grasp of money management should have an average annual ROR that is 1.5 to 2 times their worst drawdown, over the past three or five years. For me, this is mandatory Even daily patterns are made up of many hourly patterns that morphed, which are made up of many 15-minute patterns that morphed etc... — I call it ‘Chart Morphology’. The trick is to determine which patterns are real and which patterns are more likely to morph. Sometimes a market reveals itself by failing. It is because of morphology that I seek patterns that are 10 to 12 weeks or longer. I’m also not worried about markets changing so drastically that all conventional systems stop working. The reason is my belief that markets are and have always been driven by fear, greed and money flows. These things will always be the same. Timon: Yes, that’s why I don’t believe in Holy Grail systems. I believe in finding the system that suits your personality and risk profile. Along the way, one should not feel scared about making mistakes, but be sure to avoid them from being too costly. What would be your final feedback on trading in general? Peter: Sounds like you are well on your way to a long and profitable career trading. Mistakes are the tuition charged by the markets for learning. Unfortunately, the markets often decide the tuition rate, not us. Hence, I only risk 0.5% per trade. You have to develop your own style. I have never met another truly skilled trader who has copied his or her style from another trader. This is true from a tactical standpoint, but from a money management standpoint most skilled traders think very much alike.
JSE:J200Education
by Timonrosso
2
Forget about motivation and implement this insteadThere is an over-estimated word that people say. I’m talking about MOTIVATION. “I need motivation to keep to a healthy diet.” “I need motivation to go to gym six days a week.” “I need motivation to see my friends.” If I needed motivation to trade, I would have stopped trading over a decade ago. From today, I want you to remove the word motivation from your life and replace it with… INTEGRATION Integration is when an action becomes a habit without any effort and without any force. You make it a part of your daily life where you don’t need the motivation to do something. To integrate something is to naturally enforce great discipline, passion and determination into your life. I bet you already integrate certain aspects into your life such as, Getting dressed Brushing your teeth Cooking food Just like you’ve integrated a few of the above aspects into your life, so too have I done with trading. For well over a decade, I have the same morning trading routine I’ve incorporated into my life. I make coffee Open my trading and chart platform Look at the main index Analyse charts using my MATI System Place my trade orders Let the market do its thing That’s it. It’s what I do. I don’t need the motivation or discipline from friends, family and colleagues when I follow my morning routine. I’ve just integrated trading into my routine. It’s time you stop the motivation and start integrating certain aspects into your life with everything that you are passionate about. Trade well. Timon (MATI Trader)
JSE:J200Education
by Timonrosso
5 Laws of Trading Success - EXPLAINED E=MC² Everything you need to know about the Universe, can be condensed into this tiny equation. What if there was a formula that unlocked the laws of trading the markets? I believe, there is… I call them the 5 Laws To Trading Success… 1. Markets You’ll need to be able to find and trade the best markets, at anytime and anywhere in the world with CFDs or through Spread Trading. 2. Method You’ll need to create and adopt proven, mechanical and consistently profitable trading strategies with a few entry and exit rules. 3. Money You’ll need to learn how to use essential money management rules in order to boost your winners, cut your losses and never blow your trading account. 4. Mind You’ll need to be able to improve your self-confidence and develop a successful trading mindset, in order to trade effortlessly with little worry and with less stress. 5. Miscellaneous You’ll need to adopt extra tips and tricks in order to boost your win rate, cut your trading holding time and preserve your portfolio. Once you incorporate all five equally important elements – around your personality, lifestyle and risk appetite – you’ll be able to create a timeless and profitable trading plan for the rest of your trading career. Trade well live free. MATI Trader
JSE:J200Education
by Timonrosso
1
Multiple Timeframe AnalysisWhen traders ask "what was your light-bulb moment in trading", I often say 2 things: 1) stop worrying about what other traders are doing and focus on yourself making sure you are consistent with the trading strategy as that's how you will get consistent results. 2) understanding multiple timeframe analysis. Once I started focusing on myself and was consistent with my trading, I was able to review my journaled trading results and noticed by best trade setups happened when price has multiple timeframe correlations with both my enter timeframe and higher timeframe. The main purpose of the higher timeframe is to help me determine if I should be looking for buys, sells, or staying out of the market. The 2nd purpose of the higher timeframe is to determine the trend. Multiple timeframe analysis can be used on all trading strategies whether you trade supply and demand, support and resistance, chart patterns, or use trading indicators. All we are trying to do is determine whether we should be looking for buys, or sells as this will help us increase the probability of our trade. See Chart For Analysis. I also have a full break-down on my youtube: Moneyball Austin
XEducation
by MoneyballAustin
Trading the Crypto Volatility 🏄💹 FXPROFESSOR'S Tips 👨🏻‍🏫Hi everyone, I miss you more than you miss me. I will be back posting 5 and 10 times a day very soon. Life has been hectic but many GREAT things coming up next. Keep your eyes open for them, Professor is coming up with Major upgrades and perks. VOLATILITY: The higher the volatility, the riskier the security. Volatility is often measured from either the standard deviation or variance between returns from that same security or market index. Many will tell you Not to trade it. (especially brokers and exchanges...because it's probably the best chance you have to make some money...lol) Professor says : 'YOU WANT TO TRADE IT!'' In this video I share with you some of my Tips and How 'I do'. Remember: Funds you can afford to lose means no fear. A plan will give you better chances to succeed. Let me know if you like this video and your comments are always welcomed. One Love, The FXPROFESSOR Listening to this song today to Pump my mood higher, waiting for the Trading battle to commence. Remember to have some fun, trading is first of all pure entertainment. 🥊😺 Let's punch the markets , Boys and Girls
BITFINEX:BTCUSDEducation
by FX_Professor
8
If you lost deposit...COINBASE:BTCUSD Who is at fault? Let's start by acknowledging that we shall identify who is to blame for the irreversible. Who exactly is at fault for the money you lost? A market that is unprofitable? A market maker seeking increased compensation? A deceiver who desires to put everyone out of business? A signalman looking to overcharge for his signaled closed channel? Children who find it difficult to focus? Always a troublesome partner? No, you alone are at fault. You initiated the deal with your own two hands, which resulted in the destruction of everything. Nobody else compelled you to risk everything. Realizing this should cause you to cease blaming others for the results of your own behavior. It gets worse when you realize that your actions caused the money to be lost; it consumes you internally and prevents you from thinking clearly. You shouldn't worry, though, because life continues on. regain your composure. Errors are acceptable Each of us has the right to make errors because we are all human. Making mistakes is a necessary part of learning because otherwise, how would we know what is worthwhile and what is not? Just understand that mistakes are a necessary part of our journey and give yourself permission to make them. We learn from our failures and gain priceless experience that helps us reach higher heights. There are numerous examples of people who went completely bankrupt making a comeback among the Forbes list participants, using the priceless expertise they received as a result of their past errors to increase their earnings, accelerate their business growth, and improve as entrepreneurs. We all know all this famous success stories so the same is true with traders. How did Jesse Livermore come to be the subject of the memoir "Memoirs of a Stock Operator"? He completely lost all of his money and occasionally had to start again from nothing. He persisted and saw the setbacks as vital lessons that he could use to his advantage to eventually succeed. Work on your flaws Work diligently to correct your errors, consider your past, and determine what caused you to fail. What were you going through right when it all started? What feelings did you experience? What were you contemplating? What did they desire? You work Will you be able to make regular long-term gains with your current trading approach and mindset? Study technical analysis, system trading, money management techniques, trader psychology, and all that comes after if the answer is no. You can only succeed with system trading, restraint, and patience. Find someone whose primary source of money is trading, who is knowledgeable about the aforementioned, and trade with him if you don't have the willingness or time to do all of this and trading is your secondary source of revenue. However, when looking for someone like this, exercise extreme caution and thoroughly research his prior experiences. Are you plagued by the thought of wondering why, after earning a sizable sum for themselves, they didn't remove money from the market? Did you have any objectives or was money your main concern? Unless, of course, you are a fan of waste paper, money cannot be an end in itself; it can only be a means for achieving goals. It is not unexpected that you did not withdraw money if your aim was an illogical abstraction, such as a "abstract house," "abstract automobile," "abstract journey," and so forth. Change of direction You must express the objective clearly in order to succeed: The statement "I want to buy a good apartment" will not be effective, but the statement "I will purchase an apartment with panoramic windows in Paris, will be effective. If you don't know why you need money, trading will become for you a toy that rapidly becomes boring and destroys your life. But keep in mind that the objectives should be realistic and truly vital for you. This strategy will enable you to consistently take winnings from your trading account, set aside money for your objectives, and enhance the quality of your life. Enjoy yourself Don't go overboard a while frequently withdrawing money from a trading account. Make sure to spend at least a little money on your family and friends. You will thus be able to envision the outcome, feel inspired, and replenish your mental resources, which you can then use to make money. Put your affairs in order. You should bring yourself into balance after addressing the errors. Take care of your personal affairs, devote time to loved ones, your health, your children, pursue self-education, and relax in order to do this. Money and fresh ideas will undoubtedly come to you, and you'll discover a way out of the predicament. Life continues; it has not ended. You have a roof over your head, pleasant living conditions, food, water, good health, close friends, and many other things that you take for granted. Trust me, your life is someone's dream. Remember that many people do not have access to all of this, so be grateful for what you do have and enjoy life; everything else is just a minor annoyance. For your own benefit Due to the harsh circumstances, you will begin to see opportunities that you previously missed because of your comfortable lifestyle. However, your perspective will change totally as a result of these extreme circumstances. You now have experience, something most people do not. Your own success formula must include experience. He is the one who will keep you from making snap decisions and assist you in working through a challenging circumstance. "People become weak in good times. Poor people create poor times. People become resilient under tough times. Good times are made by strong individuals." The more challenging and challenging it is for you, the more probable it is that you will succeed if you manage. "A person wins internal victories during a tough time, and external victories during a prosperous time." Success, wealth, and acclaim will come to those who are diligently working on developing their character without giving in to hopelessness and despair. If you look around, you'll observe that most individuals behave in the exact opposite way during difficult times: Such people start to look for someone to blame for their difficulties when they become depressed, start drinking, and moan to everyone around them. This is due of their moral weakness, and they blame the government, presidents, officials, bankers, family, and friends. The victim's position entirely negates a person's advancement and ends his accomplishment. A person who is upset by fate criticizes more successful and strong people rather than making changes in his life and improving himself. ✅Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
COINBASE:BTCUSDEducation
by Crypto4light
✍️WEEKLY QUOTE: EXECUTE DO NOT PREDICT✍️..Why would you break your money management rules by trading too large a position relative to your equity or emotional tolerance to sustain a loss, if you weren't positive that you had a sure thing? If you really believed in a random distribution between wins and losses, could you ever feel betrayed by the market? If you flipped a coin and guessed right, you wouldn't necessarily expect to be right on the next flip simply because you were right on the last. There is always a point at which the odds of success are greatly diminished in relation to the profit potential. At that point, it's not worth spending any more money to find out if the trade is going to work. If the market reaches that point, I know without any doubt, hesitation, or internal conflict that I will exit the trade. The loss doesn't create any emotional damage, because I don't interpret the experience negatively. To me, losses are simply the cost of doing business or the amount of money I need to spend to make myself available for the winning trades. If, on the other hand, the trade turns out to be a winner, in most cases I know for sure at what point I am going to take my profits. (If I don't know for sure, I certainly have a very good idea.) The best traders are in the "now moment" because there's no stress. There's no stress because there's nothing at risk other than the amount of money they are willing to spend on a trade. They are not trying to be right or trying to avoid being wrong; neither are they trying to prove anything. If and when the market tells them that their edges aren't working or that it's time to take profits, their minds do nothing to block this information. They completely accept what the market is offering them, and they wait for the next edge. As traders, we can't afford to indulge ourselves in any form of "I know what to expect from the market." We can "know" exactly what an edge looks, sounds, or feels like, and we can "know" exactly how much we need to risk to find out if that edge is going to work. We can "know" that we have a specific plan as to how we are going to take profits if a trade works. But that's it! If what we think we know starts expanding to what the market is going to do, we're in trouble. And all that's required to put us into a negatively charged, "I know what to expect from the market" state of mind is for any belief, memory, or attitude to cause us to interpret the up and down tics or any market information as anything but an opportunity to do something on our own behalf.
BITSTAMP:BTCUSD
by Yelli_trades
28
The Cost Of Missing Your Best TradesWhat if your best trades were the ones you frequently do not enter? There are not many positives in missing trades because it's money you're not adding to your trading account. You're losing more than money when you don't enter your best trades. Let's dig in. Lost of confidence 😫 If you've ever said to yourself, "Why didn't I take the trade?" It's because you saw the setup. Your rules were met, but something inside of you couldn't push the button. It could have been your own thoughts. You could have feared losing the trade in result losing money. Either way, you lacked the strength to push the button. It's ironic how one button determines the fate of your abilities huh? Hear this, you can begin doubting your ability as a trader when you don't take your setups. Remember that your eyes see first and you must take action regardless of your personal thoughts or feelings. You used logic to see the trade so use it to enter the trade. Then let the trade tell you if you were wrong or right. Risk of losing trades outweighing the trades you don't enter. Have you ever looked at your trade journal just to realize you could be profitable if you'd enter all of your trades? Most traders I consult with hesitate the moment they realize they have a good entry. Did you catch that? They don't question the analysis. They question themselves the moment it's time to hit the buy or sell button. Like most traders, you're good until you have to show up to take action. This is common, but can also be the reason why you may not be seeing more profits than losses. Revenge Anyone? Revenge is a strong feeling. Taking action to get revenge results from the feeling of losing something so precious and your money is precious to you so it's only fitting you have a right to want it back. However, money loss doesn't always come from trades you've enter. Consider this: You see a trade. This risk to reward is 1:2. So you know you have a chance to double the amount you risk. You're excited. You see the outcome. So, you put a monetary value on the trade and realize if you win the trade you can win $1000. If you lose the trade you can only lose $500. Something happens. You never enter. It could be for varying reasons. You weren't at your chart because you got busy. You got called in to go to work. Price reach where you wanted to enter, but you didn't like what you saw. Either way you're not down $500. You're at a loss of $1000. That leads me into my last point. The cost of missing your best trades setups is the risk of making the money you desire. That $1000 could have gone a long way for you. It could have covered a car note. Paid your utilities for the month. Added more leverage to your trading account. Either way it meant something to you, but you can't feel it because you feel like you missed out on it. I get it. I've been there. You're not alone. You are learning something though. You're learning you don't want to keep missing these setups so you're going to do something about it. I have 3 suggestions for you. Let's see if you've thought of these: * Adjust your timeframes so they fit your schedule *Set pending orders *Trade less pairs so you can focus on your best setups Hear me well my dear friend, you may not always enter your best setups, but you can miss less. Keep your trading easy for you. Don't overthink the entry. Don't tell yourself you're wrong. Trust me, the market will tell let you know if you're doing things correctly or not. I pray you enjoyed this reading. If you have please like the post and share it. Please share your thoughts below. Many blessings to you, Shaquan ❤️
by ShaquanLopez
What to do in a Bear market?A few tips for making it through the bear market: Profile Rebalancing Rebalancing a portfolio means adjusting the weightings of the different asset classes in your investment portfolio. This is achieved by buying or selling assets, which changes the weighting of a specific asset class. Dollar Cost Average It is an investment strategy that aims to reduce the impact of volatility on the purchase of assets. It involves buying equal amounts of the asset at regular intervals. Re-evaluate Your Holdings Choosing investments is just the beginning of your work as an investor. As time goes by, you'll need to monitor the performance of these investments to see how they are working together in your portfolio to help you progress toward your goals. Generally speaking, progress means that your portfolio value is steadily increasing, even though one or more of your investments may have lost value. If your investments are not showing any gains or your account value is slipping, you'll have to determine why, and decide on your next move. To free up money to make these new purchases, you may want to sell individual investments that have not performed well, while not abandoning the asset allocation you've selected as appropriate. Fundamental Analysis To see if a cryptocurrency has an intrinsic value that isn't reflected in its current market price, you can employ a fundamental analysis strategy, which is the act of investigating and evaluating an investment to forecast its future worth. As an investor, you can then use this information to tactically buy or sell positions based on whether the coin is overpriced or underpriced, even while bearing in mind that cryptocurrency prices are volatile. After all, even well-known currencies such as Bitcoin and Ethereum are subject to price fluctuations. Planning for Long-Term Big picture trading is about taking everything into account and making an informed decision. In my opinion, it's one of the best trading methods. A branch of hedge funds, known as Global Macro funds, takes this approach. Do Nothing for a While If you are stressed and freaked out from big loss do nothing for a while and let your mind rest. What else would you add to this list?
INDEX:BTCUSDEducation
by parissap
8
How to trade Support and Resistance levels? BINANCE:BTCUSDTPERP Support and resistance levels - are price areas on the chart where the price has ever changed its direction. This place always attracts traders, because near the levels there are obvious places for setting stop losses and entering a trade. Also, there are always limit orders of large buyers or sellers near the levels. We can say that the level is the price area in the market, where traders consider the price to be too high or too low, depending on the current market dynamics. Therefore, it is always important to pay attention to key levels at which support and resistance have reversed roles or there has been a strong price rebound. We can designate support and resistance levels as the place in the market where traders are more willing to buy or sell, depending on current market conditions. This creates a collision zone between buyers and sellers, which often causes the market to change direction. What are levels? Support level is an area on the chart with the potential strength of buyers. The moment when buyers enter the market. The resistance level is an area on the chart with the potential strength of sellers. The moment when sellers enter the market with a large volume, which allows them to take advantage of the buyers and stop the price increase. When the price breaks the support level, the support becomes resistance. Conversely, if the price breaks through the resistance level, the resistance becomes support. - On higher timeframes, support and resistance levels gain more strength. It is important to pay attention to the nature of the price movement from the level: - If the price immediately turned from the level into the opposite trend, then this level can be considered significant. - If the price tests a certain area several times, making a small pullback, most likely, this level will be subsequently broken. How to draw levels on the chart? Support and resistance levels are not lines on the chart, but areas or zones. No need to try to draw them exactly according to the shadows or bodies of the candles. Strive to achieve the maximum possible number of price touches of the levels. This will usually require you to move the level up and down until you find a spot where the market touches that level the maximum number of times. You do not need to rewind the chart far to mark all the important levels. Most often, traders look only at the current monitor screen. Therefore, 100-150 candles will be enough. Most of the levels you will need will be based on price action over the past six months. Focus on key levels that are immediately visible. Don't draw too many levels on the chart. Try to keep only the main ones and discard the secondary ones. If you find yourself wasting too much energy looking for levels, you are probably drawing more levels than you really need. How to use support and resistance levels in trading? A level is a place for a possible entry into a trade. If an additional confirming signal appears at the level, you can think about opening a position. Stop losses are placed by levels and possible targets for profit fixation are determined. In books on technical analysis and on the Internet, you can often read that the more often the price tests the level, the stronger it is. But this is a gross mistake. In fact, the more the price touches the level, the weaker it becomes. Imagine that we have a support level. The price bounces from this level because there are buyers in the market. If the price often returns to the level, this means that buy orders are gradually being executed. And when they are fully executed, then who will buy? Therefore, when there are no buyers at all, the price breaks through the level. It is important not to forget that support and resistance levels are, first of all, zones, and not exact lines on the chart. Otherwise, you may encounter two problems in your trading: the price does not reach the level and the price goes beyond it. When the market gets close enough to the level without hitting it, you may miss the trade because you were expecting a trading setup to appear exactly at the level you chose. In a situation where the price goes beyond the level, you think that the level has been broken out and you try to trade the breakout, but this often turns out to be a false breakout. How to solve these two problems? Very simple. Always treat support and resistance as zones on your chart, not exact lines. How to find out what will break the level? As we already know, support is an area with potential buying pressure. Therefore, when the price approaches the support level, it should turn into the opposite trend. But what if this does not happen and the price starts consolidating at the support level? This is a sign of weakness as the bulls are unable to forcefully push the price up. Or there is strong selling pressure in the market. In any case, this situation does not look optimistic for the bulls and the support will probably not be able to resist. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
3
Daily analysis & day trading setups on NASDAQ NAS100USD 20220819Happy Friday, Happy Janmashtami, Happy Opex day NASDAQ100 is currently converging around 10 DMA. 13400 is the line in the sand. Bulls want to regain 13600 & bears want to continue to 13300. Remember remember, the opex can dismember Macro No news is good news?! but opex? Buy Break: 13 415, 485, 555, 580, 650, 745 Reversal: 13 300, 250, 170, 100 Sell Break: 13 320, 265, 185 Reversal: 13 425, 500, 555, 595, 660, 760 I regularly publish my daily analysis & trading plan for day trading setups. The links are here: NASDAQ DAX SPX Green Goblin levels are here >>> Fibonacci Confluence levels are here >>>
OANDA:NAS100USD
by TradingIndian
How to deal with stress in crypto trading?How to deal with stress in crypto trading? How stress can manifest itself in trading? Losses. Losses come from ignorance or inexperience. In general, they will always be, this is part of our work. But their number can be reduced. Accordingly, no matter how paradoxical it may sound,you don't need to fight with your stress, it must be experienced and get out of this situation with dignity. Not only that, stress can be a catalyst for more productive activities. First, identify the source of your stress. If it's a family affair, then spend less time trading and more family time. If you are overcome by stops, then you should move away from practice to theory and devote more time to backtesting and analyzing trades. If you are stressed by ignorance, it is accordingly better to repeat the material covered. If you do not have time to do anything, write down all your actions during the day during the week. And write down what you can get rid of to free up these necessary minutes. You need to constantly work on yourself. Analyzing errors and drawing conclusions. This applies not only to trading, but in general to all aspects of your life. How to deal with failures? First of all, do not believe all crypto bloggers who post only successful transactions. 90% of them have been in losses for a long time and never show their unsuccessful liquidations. And if you look at their leverages with which they enter into trades, it is not hard to understand that these are not traders, but gamblers. Don't compare yourself to others, everyone has good days and bad days. It is important to understand that trading is working with probabilities. No one knows how your area of ​​interest will work, no one knows where the chart will go tomorrow, no one even has a clue how much the asset will cost in a year. There are only probabilities of working out certain tools. So you need to change your attitude towards failure. This deal didn't go through? It's not scary, the next one will come in, or not the next one, but the tenth one. Doesn't matter. If you analyze your failures, and circumstances beyond your control are often to blame for the losses, then you should not worry. Because maybe the next deal will be the one you've been waiting for. If you got a stop just because Elon Musk tweeted something there, that's one thing. If the stop was received because the trend was not correctly identified, this is completely different. Failure is like stress, you don't have to deal with it. You will lose. You just need to draw conclusions. Perhaps the following will help some of you: try to change the initial attitude towards your deposit. It's your tool, nothing more. I would also like to add: Do not trade $ - trade%. Your deposit is 100% and only, no matter how much it is in $, it is important only by how much% it increases monthly. If you get used to this simple rule initially, further improvement in your life and finances will not be long in coming. How to take a break from trading? Rest is important no less than anything else, how you spend it, you decide for yourself. I would like to tell you when to take a break for a while. 1) Several stops in a row. Sure it depends on your trading style. For example, you lose 3% within a day, then you should turn of you laptop and dont check charts today. Do not try to recoup losses! Its a gambling. Have you reached a breaking point? Turned off, spent time with family, go to the gym, just relax. Understand that the market is not going anywhere, it will be tomorrow, after tomorrow and even after 5 years, the market will always be there as long as humanity is alive. 2) Profitable trades. It is also worth always taking a break, either after a big profit trade or after a series of successful trades. Why? Because you are filled with euphoria, and you start thinking you are a superhero, super guru, and its can play in one big loses when you start play with bigger deposits without stops. Everything is going well? Well, that's great, take the money you earn, spend it on yourself, make a gift for yourself or your loved ones. You just need to do it, you must feel what you earn. While the money is on the exchange, it is 100%, as soon as you withdraw funds from the exchange, it is already $. You can't earn all the money in the world. Yes, and it doesn't make any sense. Trading can give you the most important thing - freedom. Freedom in finances, freedom not to depend on the place of work, freedom to manage your own time. BUT! Only when you can accept this freedom. If you sit at the computer for days, always trying to increase your deposit with thoughts: “I’ll have $ 100,000 then I’ll have a rest”, deny yourself pleasures: “I’d better buy a coin with this money and it will grow”, etc. In this case, you yourself deprive yourself of freedom and become a prisoner of this squirrel wheel. In the end, you will simply stop enjoying trading. Our brain already remembers more negative than positive, that's how we are arranged. And if you live only on the exchange, you will inevitably remember only the negative from trading - your losses. Come to harmony between work and rest, then you will feel the pleasure of the process. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
1
Why is a workplace important in trading?Why is a workplace important in trading? Trading is such a small life that you live every day by opening a chart and an exchange. And above all, you must live this life with dignity. And in order not to break down, not to burn out, to save your nerve cells, it is important to devote time, first of all, to psychology. Your workspace It is important that you feel comfortable working. Nothing should cause you negative emotions, remove all irritants: wipe the dust, remove all unnecessary, leaving only those things that you use daily. You should sit down at the workplace and get maximum satisfaction, everything should be as comfortable. You need to achieve maximum comfort, pay attention to what you are sitting on. Chair or office chair, choose it according to your height, back position, soft or hard, leather or velor. Customize the location of the monitor, mouse, keyboard or laptop in general. Use the speakers you need to play your favorite music in the background. Why is it so important? Because even the slightest irritants can affect your work on the crypto exchange. For example, you got a loss, at the same moment the cup with your cold coffee fell and now after 30 seconds - you are furious at everything around, and next time you start open random positions and get more and more loses. How to build a workflow? After you have prepared the workplace, you need to prepare the work itself. First, decide on the time. You need to draw up a trading schedule. You should not sit 24/7, tremble over the charts and follow every candle, except for overtrading. Yes, it will be difficult to choose the time for yourself right away. Highly recommend you to watch my video about trading styles. Create best workflow on exchange or trading view! Add favorite tool which you use all the time. Time charts, crypto lists colors, background, and all this small things. Ill make another video with trading view setups. But who knows you better than yourself? That's right, nobody. Therefore, think about how you will be more comfortable. Next, we need to determine in ourselves those things that can interfere with trade. For example: you are very sensitive to money, every penny counts. You may need to work on your relationship with money. Maybe we should not overestimate their importance. After all, this can be detrimental to emotional health in the future. Or you are an extremely gambling person, like disputes, get adrenaline from the process itself. In this case, you should think about how you will deal with excitement while trading. After all, I already told you that trading is a small life. The crypto exchange is not a place of fulfillment of desires. This is the battlefield. And in conclusion, I want to add to the preparation: Pay attention to the chart, set the colors and tools that are convenient for you in the trading view and on the exchange itself. Get a notepad. Write everything down the first time. All observations, all transactions, all emotions, all flaws. Write absolutely everything there, every day. Write yourself a checklist, add to it everything that prevents you from working and hang it in front of the monitor. Every morning, before you sit down for a chart, see if the conditions are right. For example: excellent mood, no headache or other pain, slept well, concentrated. All urgent matters are done so that nothing distracts you, etc. And most importantly, be self-disciplined. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅ Look at my ideas about interesting altcoins in the related section down below ↓ ✅For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
1
Learned helplessness in tradingBINANCE:BTCUSDT A classic situation for a trader is the fear of opening a position, dictated by the negative previous experience in an identical situation. How usually manifested after a series of failures (losing streak) and leads to ignoring further trading setups. Let's look at this case in more detail. The material will consist of three components: The biological component describes the possible mechanisms of the brain in the field of decision making, touching on the cognitive error described above. This cluster is of no practical use in the context direct solutions to the problem, but brings the understanding that not all mental processes can be felt at the objective level perception, but can latently contribute their own changes in behaviour patterns. And the psychological component describes the mechanisms problem in terms of psychology person. The release of adrenaline does not necessarily lead to reaction, according to the strength of the corresponding reaction “beat or run", but to some extent capable induce a general mobilization of organs and systems. This is manifested in an increase in heart rate and respiratory rate, dilated pupils and other reactions directed to fight stress. Similar episodes of stress are also recorded by the cortex hemispheres and hippocampus with the formation associations. In the future, these associations will intensify, if negative outcomes prevail over positive. Association cortex conditionally "compares" the number of positive behavioral patterns and positive emotions with quantity negative, preferring to slow down the launch behavior that led to stress. Learned helplessness is a state in which an individual does not attempts to improve his condition, although he has such an opportunity. The key factor causing this condition is imaginary inability to influence the situation, and lack of connection between actions and results. However, if the negative situation is repeated repeatedly, there is a feeling that there will be more only worse. To begin with, it is very important to understand that there is no magic a method that will restore confidence in one's own actions. One way or another, you have to do it on one's own. Psychology cannot solve your problems instead of you. It can only point out some points that worth considering in order to form the correct an approach to accept negative situations and help find a way to solution to this problem. So, what to do if it works for you psychological "feet" before making important decisions based on the previous negative experience? Here are some practical tips. Catch yourself by the hand every time thoughts visit about failures that are not related to a specific situation, but projected from the past. The brain accumulates sums up negative experiences, which is common cognitive error. Although due to feelings of learned helplessness in humans and may give the impression that his chances of success after a series of failures, much lower than it really is, In practice, they are not at all diminished by the fact that was earlier. Your chances of success in this particular moment are always static and depend only on the cold mind and clear calculation. While this may not be easy, it is necessary get rid of emotions and conduct a substantive assessment their results. At what point was your result positive and why was it so? And in what moments your result was negative and,Of course, just try to find out. Probably, if you analyze your failures, you can visually observe that between your failures there was no relationship, but the fact that they went in a row, or the fact that lately there are too many of them - not more than a coincidence. If you determine that the reason for your failures was specific (impulsive decisions/exceeding risks/ignoring your own rules), you you can learn from this experience and, in the future, avoid repetition of such situations. No matter how banal and paradoxical this may seem advice, but it really works in practice. Our the brain is designed in such a way that when we give in to problems, we lose faith in ourselves and our own success. This does not mean that one should act recklessly. However, if you objectively assess the situation and decide that acting now is a good option which fits within the framework of the strategy, do not ignore such possibility. In case of failure, you will gain experience, and afraid to try, you will only start stronger believe in your own helplessness. The problem is sometimes not the situation, but the loss of will and belief in the significance of their actions. The “act when you decide to act" allows you to save or regain a subjective sense of control over situation. If accumulated failures have undermined your faith in success, false beliefs about their abilities. Since it didn't work out before, will succeed in the future. In time, man pays more attention to the experience that confirms this assertion. It only focuses on negative results, ignoring exceptions when he did it all. These fears of failure kill future success. Due to the formed negative thinking patterns in the human imagination is drawn only sad turn of events. In such situations it is important to find special cases of your own success in past. If you lack self-confidence, remember when did you get it right? Think about these sensations. It is necessary to learn to see alternatives, positive developments that form a new self-image opportunity to influence what happens in positive key. In the end, I would like to say that failures happen with absolutely everyone. And it's up to us how we We respond to them and deal with them. Do you lose confidence in yourself and your abilities? or accept failure, analyze, learn from it experience and continue to work, developing on professional field, looking forward to the future success? Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
What to include in your Trading RoutineMost people dive straight into trading without knowing how or why. They also don’t plan ahead. This is why most people are unsuccessful at trading. Having a well developed plan is KEY 🔑 to trading success! Let’s see what in must need in trading routine: 1. Trading Journal 📝 You won’t improve without a trading journal, your whole trading routine is built around your trading journal. The time you’re trading without one is wasted time period. 2. Backtest 📌 Do it every week at least once. Backtesting increase: - Confidence in your strategy; - Self-confidence to execute it; - Discipline (when you’re confident about your strategy, you are more likely to respect it.) Tip: Journal your backtested setups. 3. Weekly mental preparation ⏳ Write down things like: - What are the things you want to work on. - What are the habits you want to improve. - What are your goals for next week. 4. Technical preparation 💡 - Make your analysis. - Study the different price scenarios. - Prepare your trading ideas. You can do it weekly or daily depending on your needs. 5. Weekly performance analysis 🎭 Open the psychology section of your trading journal: - What did you do well? - What could have you done better? - What lessons did you learn? - Realization about yourself, your strategy and the market. 6. Wins and Losses analysis 🌓 - Open the charts of your trades one by one. - Read your mistakes - Write down at least one lesson you took from each trade. Tip: always take a screenshot at the exact entry point of each trade. This allows you to mitigate the hindsight bias and develop your pattern recognition skills. 7. Writing ✏️ Write down your thoughts and emotions on bad days. It helps you understand your mind and gives you clarity. It’s a great way to focus on the process and be patient. 8. Activities outside of trading 🚴🏻♀️🚣🏻♂️ You’re going to lose motivation and belief with your trading many times, you need to have extra motivational source. If you only rely on your trading results to feed your persistence, you ganna give up easily. If you like this content help me grow ❤️🌱 I’d be happy you add more tips to learn from each other
Education
by parissap
14
#SPX Update 7-19-2022#SPX finally broke out over 3900 and continued strong up through close. NFLX was a big watch AH and ended up showing good numbers. We have TSLA AH tomorrow. SPX can continue this move up into 4000-4020 area by friday. 3957 and 3974 are still targets before 4000. Do not let high volatility deter you from trading if you have reliable charts you can read. Instead conwider controlling your risk with Position Sizing. Consider leaving your loss limit the same but lowering position size. This allows you to limit loss if the trade goes against you, and allows you to add position size at set targets when the charts continue in your favor.
SP:SPXLong
by MoneyFlow_Options_Community
10 things every trader should knowBINANCE:BTCUSDT 1. There is no general approach to trading. Most traders believe that there is a formula that can be used to predict market fluctuations. But in reality, not only is there no such formula, but it is not even possible to develop a general model of markets, since patterns are constantly changing. There are numerous styles and approaches (which sometimes contradict each other) used by traders, perfectly demonstrate the huge opportunities that stock trading provides. That is, there are a large number of ways to become a successful trader. But in order to find your way, you need to work hard. 2. Look for the style of trading that best suits your preferences. Each trader for successful trading must develop his own method that will correspond to his ideas about the market. A trading approach that is profitable for one trader can lead to losses for another trader if he does not adapt the method to his abilities and ideas. As O'Shea said: "If I try to teach you what I know myself, you will fail, because you are not me." Failure can befall a trader even if he stands behind a successful trader and closely observes everything he does. Such training will allow you to adopt some good habits, but no more. Indeed, in the future there will be many moments when the second trader will want to do something completely different than the first trader. This does not mean that trading one may be less successful than trading the other, but they will certainly operate differently. A trader for successful trading needs to learn to be himself. 3. Trading should not make you feel uncomfortable. In the event that the open trading position is very large, traders often exit trades during minor corrections in which they could make a significant profit. This happens because of the fear that prevails over the mind. This means that the size of positions must be reduced until fear no longer prevails over reason. Even if the market is moving in the right direction, using only a fraction of your capital to trade may end up being more profitable than if you were to invest all of your capital. 4. A good trader must adapt quickly. If trading were so simple that a trader could find one pattern and exploit it for a living, then everyone would be successful. But life is much more complicated: markets change all the time, and a pattern that was profitable can suddenly stop working. This is what a good trader should always be ready for: even the most reliable approach can stop making a profit and start bringing continuous losses. 5. Don't confuse winning/losing trades with good/bad trades. The thing is, there are good trades that make losses and bad trades that make profits. After all, the most wonderful and profitable trading strategy has a certain percentage of losing trades, but this does not make it bad. It is impossible to understand in advance whether a transaction will bring a loss or profit. But if trades are made in accordance with a trading system that has a positive mathematical expectation, then they will be good and correct, regardless of the amount of profit or loss. This is explained by the fact that trading with a positive mathematical expectation makes a profit over a long period of time. If transactions are made randomly, then regardless of the amount of profit or loss, they will be bad, because over a long period of time they are guaranteed to bring a loss to the trader. 6. Focus on methods that work and spend less time on methods that don't work. This advice from Clark is very commonplace, but many traders do not follow it. Very often you can find cases when a trader manages to find a successful trading style, but he gets bored and begins to make extraneous transactions, not quite understanding what he is doing. As a result, the overall performance decreases. In order to make a profit, a trader must focus on what he is good at and concentrate on those trades. 7. On the way to success, you need to make a lot of mistakes. Dalio argues that all your mistakes need to be studied and carefully analyzed - only this will help to achieve progress and achieve success. After all, each discovered and worked out error will improve your trading approach or find weaknesses in it. The trader will only benefit if he writes down on paper each of his mistakes, draws a conclusion in writing and writes down what adjustments he made to trading after that. You should not rely in such a business as trading, only on memory. Periodic review of the records will allow you to consolidate the acquired skills and prevent these mistakes in the future. It is impossible to completely avoid mistakes in trading. But the success of a trader is determined It is not the absence of errors, but their low frequency. 8. Make only those trades that you are sure of. A trader needs to have a considerable amount of patience in order to wait for trades that he is sure of. This increases the number of profitable trades. For example, a good trader is not bothered by having to do nothing for long periods of time. He does not make trades until he sees that it is possible to make a trade that suits his trading strategy. 9. Don't trade on a wave of euphoria. A good trader should not fall under the influence of euphoria or stock market hysteria. In general, excessive euphoria in the market is the first sign of an approaching trend reversal. 10. Watch how the markets react to the news. Market reactions to news may be more important than the content of the news. According to Piatt, during one of the transactions there was an endless stream of bad news. He expected that this position would close with a loss after every bad news, but the price, despite expectations, did not fall. As a result, Piatt decided that this (the fact that the market does not react to the news) confirms his trading idea, and increased the size of his position four times. This deal brought him one of the largest profits in the history of his work. Studying the markets, you immediately understand the huge scale of exchange trading. The main thing is that trading is equally accessible to everyone. One click - and you are on the stock exchange in New York, the second click - and you are already in Tokyo. These exciting journeys can bring not only pleasure, but also money.
COINBASE:BTCUSDEducation
by Crypto4light
USDX Daily TA Cautiously BullishUSDX Daily cautiously bullish. *Equities are down, cryptos are down, commodities are down (yes Gold included), real estate/housing market down, inflation up and the US dollar (as well as Russian ruble)... up. The Fed is expected to announce anywhere from a 50bp-100bp rate hike this Wednesday if they want to be in line with their promise to go "beyond neutral" to ring in still growing inflation; 50bp would likely assuage markets in the short term and stall the dollar, whereas 75bp+ would likely send markets lower and keep pushing up the dollar.* Recommended ratio: 90% USDX, 10% cash. Price is currently in Discovery as it is currently printing a new ATH at $105.05 amidst a big push back into treasuries (10y/30y). Volume remains Moderate (high) and is currently on track to favor buyers for a fourth consecutive session if it can close in the green in today's session. Parabolic SAR flips bearish at $101.36, this margin is mildly bearish. RSI is currently breaking above 63.78 and is trending up at 68.60 as it fast approaches overbought territory. Stochastic remains bullish and is currently on the verge of testing max top (where it can potentially coast in the bullish "autobahn zone" for a while). MACD remains bullish for a second consecutive session and is currently trending up at 0.39, the next resistance is at 0.46; if it blows past 0.46, it will likely test the uptrend line from August 2020 at around 0.80 resistance. ADX is currently trending up at 23 as Price continues to rise, this is mildly bullish and becomes very bullish if it can maintain this same correlation above 25. If Price is able to continue in its Discovery, the next psychological level to watch for is $110. However, if Price retreats from here then it will likely test $103.77 support. Mental Stop Loss: (two consecutive closes below) $103.77.
PEPPERSTONE:USDX
by dailytaguy
GOLD/USD Daily TA Cautiously BullishGOLD/USD Daily cautiously bullish. *As the risk of stagflation becoming full blown recession gets higher every month, equities and cryptos are falling, USD is getting stronger, energy prices are coming back down (in the short term) and Gold is going up.* Recommended ratio: 75% Gold, 25% Cash. Price is currently retesting $1867 minor resistance is it inches closer to testing the 50 MA at ~$1884 (as resistance). Volume remains Moderate (high) and has favored buyers in three of the past four sessions as Price continues to defend the 200 MA as support. Parabolic SAR flips bearish at $1824, this margin is neutral at the moment. RSI is currently trending up at 54, the next resistance is at 67.24. Stochastic crossed over bullish in Friday's session and is currently trending up at 71; the next resistance is at 88.41. MACD remains bullish and is currently trending up at -4.93 as it is in the midst of breaking out above -10.84; the next resistance (minor) is at 10.56 (which should coincide with the uptrend line from March 2021). ADX is currently beginning to form a soft trough at 13 as Price continues to consolidate, this is neutral at the moment. If Price is able to close above $1867 minor resistance one more time, it will likely test the 50 MA at ~$1884 as resistance before potentially retesting $1910 minor resistance. However, if Price is rejected by $1867 minor resistance it will likely retest the 50 MA at ~$1840 before potentially retesting the uptrend line from April 2020 at ~$1800. Mental Stop Loss: (two consecutive closes below) $1867.
G
by dailytaguy
What makes a great trader!Traders! Learn from lions! 1. Set Goals Every time the sun rises, the lion has one goal that keeps it motivated. It is survival. No matter what day it is, no matter how hard the struggle will be, they stand up with determination to survive. That is called the lion attitude. Many lions lose their reign, cubs, and queens to other lions, but they never give up on life. Lions are born to hunt, and they know they have to get up and run to get fed. They need to be ready to defend their territory and to fight with all their power to protect the pride and the young cubs. With their survival instinct, they fear no other animals and survive among the fittest. Therefore, as a trader you need to set goals. These can be long term goals or daily goals and strive to achieve your goals. A trader that sets no goal is like a sailor that goes without a compass. 2. Be selective Lions don’t kill just any animal. First they observe and among the group of animals they pinpoint one, probably the weakest but also the size that can feed the entire family. Most of the time their instinctive calculator works. What is the lesson? There are many instruments. Not all these needs to be traded at once. We should pay attention to a few instruments, perhaps pick one or two that are shaping up well and trade these. It is also good to know which instrument is good for us to trade, which one brings us fruits and which one burns our accounts so we avoid this. It is not necessary to trade everything, what is necessary is to make money. What gives you money-stick to that. 3. Focus Lions focus on one target. After selecting a target, they only put attention to that. They don’t waste time looking at others. After selecting the instrument that you want to trade, focus on that, avoid being distracted by other instruments or pairs. Other pairs will tick and move, if you divert your attention from those that you selected you will lose focus and end up taking wrong trades that you didn’t plan of taking. 4. Embrace failures The hunt is not about excellently using that one opportunity to get the prey. It is about hunting until you get one without knowing how many opportunities you need. The facts are that the hunt fails eight out of ten times. However, have you ever seen a lion losing hope? Or have you ever seen a depressed lion? No. After every failure, it tries again and changes its approach. Lions never give up, because they have a different type of appetite. They can keep going, no matter how hard it gets. Every time again, they are trying to make a better hunt to succeed. That is called determination. The struggle forces them to get it to the next level. The prey is not just going to sit there and wait for the lion. Even as the king of the jungle, they have to work hard and learn the lessons throughout each attempt. For you, it will be no different. Embrace the failures and find the strength in every setback. Your failures are part of your success. They allow you to begin again more intelligently. Make sure you will not repeat them. A real trader's goal is to be a profitable trader. Through the process of becoming profitable, you will fail, sometimes fail very terrible. Just like the king of the jungle that never gives up, you should not be held back by those failures. You need to get excited by the process and fight through anything that holds you back from achieving your goals. Keep challenging yourself by setting new goals. The hunt never stops, so aim higher with every new goal. 5. Seek Support from others The lion finds its highest support amongst the other lions in its pride. They depend on each other when it comes to their survival. Every lion plays its part in times of hunting the prey and in times of defending its territory. As the only "big cat" who lives in groups, they work with each other and work for each other. No matter how hard the struggle is, there is no task too big when it is faced together. The more lions involved in the hunt, the bigger the prey they will go after, and the more organized and coordinated they will be. No matter how long you've been an active trader, you still need to learn from others. This is very relevant if you are just starting of as a trader. Right from the very beginning, trading will not be as smooth as you expect it. Your whole life will be involved, your emotion and your psychological being. It is best to seek support from others and never get ashamed to ask for help. One way of seeking help is by taking lessons from those who are doing well in trading. If there’s any cost involved-pay it, because the lesson you will get from there will be invaluable. 6. Enjoy your daily Moments Besides all the challenges the lion is facing in chasing their life goal, it still sleeps for more than half of the day. Moreover, it enjoys the daily moments in the pride by relaxing, lazing around, and play with other lions. Lions spend between 16 and 20 hours each day resting and sleeping. They conserve their energy during the warm day because of their few sweat glands. They become more active at night when it is colder. Just like the lion, find time to relax. Become aware of when it is time to enjoy your moments and get your energy level upwards. Make sure you take care of yourself to be at your best when you're hunting your goals. The best moments in life with family, friends, or just yourself, have to be experienced at its full potential. Avoid being on the chart the whole day, it is dangerous to your health! 7. Be protective If you threaten anything of value to the lion, you better be prepared to fight. Its family, its territory, the lion is willing to die for these. What are you willing to protect and die for as a trader? Each time you open the chart, your account is under threats, your fund is at risk. Many of the risks are cost by ourselves. Overleveraging, trading with no stop loss, these are just some of the mistakes we make. A lion would defend its territory and even lay its life for it. As a trader, it is your goal to defend your capital by using proper risk management and setting calculated stop losses to every trade you execute. Friends, hope you enjoyed this article and if you did please do not forget to like and share. Do also let me know which point you enjoyed the most and feel free to write it in the comment section below. Have a wonderful trading week.
FX:NAS100Education
by Forexintelligence_NA
1