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8 MYTHS ABOUT TECHNICAL ANALYSISThere are many people and many opinions in the market. There are those who criticize technical analysis, calling it superficial and even useless. There are those who consider technical analysis (TA) the holy grail that can bring huge profits. Today we will try to debunk 8 myths about technical analysis. myths 1. TA is for short-term trading or day trading only. Many people think that TA is only suitable for short-term and computer-driven trading, such as day trading and high frequency trades. The history of TA actually goes back long before computers were invented, and many famous and profitable traders use it for long-term trading. Technical analysis is used by traders on all timeframes, from minutes to weeks and months. 2. Only individual traders use technical analysis. In fact, investment banks have dedicated trading teams that use technical analysis. High-frequency trading, which covers a significant portion of the trading volume of stock exchanges, relies heavily on technical concepts. 3. TA has a low success rate. To debunk this myth, all you have to do is read Masters of the Market: Interviews with Top Traders by Jack D. Schwager, which quotes many traders who profit solely from technical analysis. Traders with many years of experience have been making profits using technical analysis for more than a century. 4. Technical analysis is fast and easy. Novice traders open trades based on a simple TA, but this is not enough to be profitable at a distance. Success depends on continued study, practice, good money management and discipline. Technical analysis is just a tool, just one piece of the puzzle. 5. Ready-made technical analysis software can help traders make money easily. There are a lot of advertisements on the Internet that promise to give you a program for a small amount that will do everything for you and bring you profit - in fact, this is a scam. There are programs and indicators that can help you trade, but no program will give you guaranteed profits. 6. Technical indicators can be applied to all markets. Most often, yes, TA can be applied in all markets, but there are exceptions. Different asset classes move in their own way, with their own characteristics, and a trader must be able to adjust his TA for a particular asset. Don't make the mistake of applying technical indicators designed for one asset class to another. 7. Technical analysis can give very accurate price predictions. Beginning traders expect to see 100% accurate signals and accurate profit prices, reversals and so on from TA. This is simply impossible. Most often, TA helps to find the zone where the price can go, where it can reverse from and this is not a specific point, this is a zone and experienced traders understand this. 8. The winning percentage in technical analysis should be higher. If the first trader out of 5 made 4 profitable trades, and the second trader out of 5 made 1, who is more successful? You need to get more information to give an answer, it may be that the first trader earned $ 10 in 4 trades, but at the same time he lost $ 80 in one and then he will be in the red, and the second trader lost $ 40 in 4 trades , while in one transaction he earned $ 100. The right trading structure ensures profitability even with a small number of winners. It is not necessary to have many profitable trades, it is enough that the profit covers losses and something else remains, and sometimes one trade is enough for this. essence Technical analysis is not the holy grail, it will not give you 100% profit. It does not suit everyone and you need to study it before you understand whether it suits you or not. You need to gain enough experience to learn how to use technical analysis correctly. When used correctly, TA can give you a real opportunity for trading success. Good luck!
Education
by DeGRAM
7
How to avoid getting Rekt with Heikin Ashi + Winning Trades1) Use Volume divergences to your advantage 2) Use Heikin Ashi weak green candles to find high points to short 3) Use dynamic trendlines by finding high + low points of volume to find "Volume breakouts" Usually volume breakouts can happen before price, and you can predict price trends before they happen. When to close Long BUY trades with small loss or small profit? 1) Weakness in Heikin Ashi candles upwards 2) Bear Divergences 3) Bear Volume increasing 4) RSI falling underneath the MA and retesting the MA When to close SHORT SELL trades with small loss or small profit? 1) Bull Divergences 2) Bear Volume decreasing + Big Green Heikin Ashi candle with high volume Also ^ switch back to normal candles and see if candle is Bull engulfing 3) RSI breaking out over the top of MA When to Take Profit? Use the reactive trendline: When you are short and it turns Green after Shorting, take Profit on Short When you are long and it turns Red after Buying, take Profit on Long
Education
by reiiss7
Forex Fundamental AnalysisHello! Today I want to talk about a topic that is rarely discussed, but important at the same time - fundamental analysis of the forex market. News, GDP, interest rates - all this affects the market and everyone needs to be able to understand this. What is fundamental analysis Forex fundamental analysis is a way of analyzing a currency, making predictions based on data that is not directly related to price charts. There are two types of influence of fundamental indicators on the price : Short term. Fundamental information has an impact on the market within minutes or hours. Long term. Fundamental factors, the impact of which on currencies lasts from 3-6 months. Used for strategic positions. Several basic levels are used for conducting FA. The level of the national economy. Comprehensive analytics of economic and political indicators of the country. Industry. The volumes of supply and demand, prices, technologies, as well as production parameters are studied. Individual currency level. Financial statements, management technologies, business strategies, competitive environment are assessed. The classical scheme of fundamental analysis looks like this : An analysis of global financial markets, the presence of signs of a crisis and force majeure events, an examination of the situation in the economy and politics of the leading world powers is carried out. Economic indicators and the general level of stability of the region (industry), the analyzed currency or other instrument are assessed. The degree of influence of regional and world economic indicators on the dynamics of the selected financial instrument in the short and medium term is determined. Main fundamental factors When using FA directly to open trading positions, the following points will be decisive (in descending order of importance) : Interest rates of central banks (CB). Macroeconomic indicators. Force majeure situations, market rumors, news. Central bank rates According to the theory of macroeconomics, increasing interest rates cause currencies to rise in price, while falling interest rates make them cheaper. However, there are situations in the Forex market in which a decrease in the rate becomes the reason for the strengthening of the currency. Foreign exchange market interventions Currency interventions are an important tool in the analysis. Central Banks resort to such a measure very rarely, but you should not ignore this phenomenon. Macroeconomic indicators For any country without exception, there are data of constant importance: the level of GDP; inflation rate; trade balance. These reports are expected by the market. The approach of their publication dates gives rise to a lot of rumors that fuel the trading frenzy. Such an environment often creates situations in which the release of specific numbers does not cause almost any reaction, since the market has already beaten them in advance. However, as FA practice shows, this happens only when the existing trend is not subject to change. In the case when the published data differ significantly from the forecast, the market response can be very violent. This is especially true of the moment of the general reversal of the current trend. Important macroeconomic indicators In simple words, a macroeconomic indicator is expected news, showing up-to-date data on the main indices of the financial and economic state of the state. The advantage is that each trader can know in advance the moment of release of any data from the economic calendar. These indicators affect the rate in the short term and are suitable for trading on medium and short term timeframes. Types of macroeconomic indicators Trade balance. This indicator reflects the volume of exported goods to imported ones. A positive balance is called when exports are higher than imports. Assumes a strengthening of the exchange rate, due to the fact that rising exports increase the demand for the national currency of the exporting region. Discount rate of the National Bank. On its basis, interest rates on deposits and loans are formed. When the national bank rate rises, the currency strengthens; when it falls, it weakens. Gross domestic product. The volume of GDP is obtained by summing up the entire range of services and goods that were produced in the country per capita. However, an increase in GDP always leads to the strengthening of the national currency against other currencies. Inflation. The growth of this indicator leads to the depreciation of the national currency. Unemployment Rate. As a rule, an increase in the indicator is followed by a decrease in output, an increase in inflation and a negative change in the trade balance. For this reason, the data on unemployment has a strong pressure on currencies, and an increase in the figure causes a depreciation. Macroeconomic indicators One of the most common mistakes in trading is trying to trade on weak news. Therefore, you need to understand which data pertains to you. Macroeconomic indicators One of the most common mistakes in trading is trying to trade on weak news. Therefore, you need to understand which of the data are important. Important market data includes : money supply; balance of payments deficit (Balance of Payment Deficit); trade balance deficit (Balance of Trade Deficit); unemployment rate (Unemployment Rate); a significant fall or rise in the rate of inflation (Rate of Inflation); fluctuations in the volume of GDP; change in key rates; emergencies (natural disasters, unexpected events in politics or Second stage of analysis An assessment of the numbers predicted in the calendar for future data. Analysis of the market reaction to this event. This is done in order to understand the price behavior at the news release. For example, when the exchange rate of a currency dependent on news is growing steadily even before the release of figures and at the same time positive data is predicted, one should not expect sharp fluctuations in the exchange rate at the time of the release of the information. And if the forecast turns out to be wrong, then the market can react with a powerful reversal of the current trend. Decision-making. There are two options for entering a trade. The first is to use the situation to open an order on the current trend before the release of the news with constant trailing stops to protect the position. The second is to wait for the release of the data and make trading decisions according to the situation. Results Fundamental indicators certainly affect the price, but each in its own way. It is worth remembering this and not running to open a position just by seeing some news. Analyze, try to understand the possible reaction of the market to the news. Use all the information, be objective and then you will be better than most. Good luck! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩
Education
by Lingrid
45
The Only Proven Way To Success in Trading 🥇 Hey traders, Like any discipline, consistently profitable trading requires many years of practice. In this post, we will discuss the only proven way to become successful in trading. 🔰First, let's start with the axiom: there are no inborn traders, trading is a skill, a skill that can be learned. Though talent may help you in some manner it does not guarantee your success. One more axiom that is logically derived from the first one is the fact that trading is a complex skill. The one that can be split into dozens of subskills. Making that statement we may assume that our success in trading directly depends on mastering each subskill, each domain that it consists of. But how do we master these skills?🤔 The only way to do that is to practice. Practice means doing something regularly in order to be able to do it better. With your first attempts, you are doomed to fail. Inevitable you will suffer and you will feel miserable because of your incompetence. Trying and doing the same thing again and again, at some moment you will feel the progress and growth. Your perseverance will bear fruit. Knock, and it shall be opened to you. And as a consequence, with some attempt, you will feel that finally the skill is mastered, that one more stage in your journey is passed. Polishing the entire set of subskills and learning to apply that as a single unit will make you a consistently profitable trader. Just stipulate the domains properly, name them and be ready to work hard. ❤️Please, support this idea with like and comment!❤️
BITSTAMP:BTCUSDEducation
by VasilyTrader
20
ACCELERATION OF A SMALL DEPOSITToday I want to talk about a topic that every novice trader has to face. Most beginner traders save up money to make the first deposit and very often this amount is too small for trading, but the broker gives you the opportunity to trade anyway, why is that? The fact is that the smaller the deposit, the easier it is to lose them, and the broker knows this. Therefore, for calm trading, you need an amount greater than $100 or $500. The optimal amount to start trading is $1000 What is the danger of a small deposit? Beginners can be anyone from a student to a businessman. And very often the initial funds will be small, because the reason people come to the market is to make money! A person invests $10, not because he is greedy, but because there are simply no more free funds. At the same time, the trader is already dreaming of millions, and his head begins to spin from such thoughts. As a result, deals are opened for $1, then for $2, and in the end all the money is lost. The market does not bring quick profits. It is also impossible to deposit the last money or money borrowed. All this will only lead to the drain of the deposit. 1000$? Why $1000 is considered the best start? This question can be answered by the rules of money management. Everyone remembers the rules of risk, let's say you decide not to risk more than 5% on each trade. When trading intraday, the position size is 20-50 pp., that is, when trading micro-lots of 0.01, the risk per trade will be $2-$5. Such a risk is acceptable for a $100 account, since then it will be 5%. When trading on daily timeframes, the average risk is even higher: 50-100 pp. (5-10 pp.). In this case, the account must be at least $200. As you can see, money management clearly indicates the minimum deposit size. This is when trading micro-lots. As a rule, traders use standard lots because they want to make quick money and it is very risky. Therefore, you should not start trading with $10 or $200. It is better to save and collect the required amount, or at least $500, and then it will be easier to trade. But what if you can't wait? How to disperse the deposit? There are a couple of rules: A trader must have a working trading strategy that has proven itself well on a demo account and on a real account; Comply with risk management rules; Provide a deposit amount of $200-$400. Subject to these conditions, you can “softly” disperse the deposit. Overclocking With a quick acceleration of the deposit, the risks increase, you must understand this. Here are three principles that make it possible: The risk per trade is set higher than in the classic MM, and can reach 10%; If the trade is unprofitable, the risks are not doubled; When the deposit is broken up to the set limit (for example, from $200 to $500), the trader returns to the previous risk of 5% and trades for several months in compliance with Money Management rules. Then you can repeat the "acceleration". pyramiding A popular way to accelerate a deposit is Pyramiding, the meaning of which is to add positions. Here's how it goes: You determine the main trend on the daily timeframe and open a position following the trend. Then wait for another signal indicating the continuation of the trend. If there is a signal, open another position along the trend. The protective stop-loss order of the first order is transferred to the opening level of the second order, that is, to breakeven. The size of the take profit on the second trade should be small, because the trend can change direction at any time. It is important to remember that this strategy only works if there is a trend, so a flat or correction should be avoided. Outcome Trading this way is very risky. The best way is to raise an amount equal to or greater than $1,000. Then trading will become less dangerous for you, since you can use the standard money management rules. Before dispersing the deposit, you must set yourself a goal, after reaching which, be ready to use the standard risk rules. Big risks are rewarded, but even they need to be taken with intelligence and control. Good luck!
Education
by DeGRAM
3
DROP IN TRADINGHello! Today I want to talk about drawdown in trading. This topic is very important because it is directly related to the possible loss of all capital. What is a drawdown? When trading, you can make profits as well as take losses. When you lose too much and the account decreases significantly, this is called a drawdown. Losses in trading are normal and should not be feared. But you should not lose too much, a minus of 15-20% is considered a moderate minus value, and these losses must be controlled. Drawdown (DrawDown, DD, drawdown) in the foreign exchange market is a temporary decrease in funds in the trading account as a result of opening a losing trade. In simple words, a drawdown is a trader's floating or real loss. Drawdown types In the Forex currency market, it is customary to classify the following types of drawdown: The current drawdown is a temporary drawdown associated with an open position, which is now in the red. The size of the initial deposit does not change until the position is closed. As a result, the position itself can be closed even in a plus, but if the position goes into a minus, you should think about the rules of money-management. Because a position not closed in time may end up with a margin call. A fixed drawdown is a position closed with a loss. This type of drawdown negatively affects the size of the deposit, reducing it. If money management is not used correctly, such transactions can significantly reduce your deposit, which is not recommended. Maximum drawdown - the maximum value of deposit losses for the entire trading period. It is calculated each time from the previous maximum deposit amount, and the largest value is selected. For example, there were three big minuses on the account: $300 with a $1000 deposit, $450 with a $2000 deposit and $200 with a $2500 deposit. The maximum drawdown here will be $450. Relative drawdown - the maximum decrease in the account relative to the initial deposit, expressed as a percentage. It is often used when analyzing a trading strategy in order to understand after what losses a trader should think about changing the strategy. For example, if the relative drawdown is 20%, then with an initial deposit of $1000, the speculator will understand that it is necessary to close deals and modify tactics when the current drawdown reaches $200. The absolute drawdown shows how much the balance has decreased relative to the initial value. These data are similar to the relative drawdown, but are expressed in the deposit currency. Why analyze losses? Each trader should know how much he is ready to lose and at what value he needs to change the strategy and start trading a little differently. The percentage of allowed drawdown is different for each trader, conservative traders try to minimize the maximum drawdown, more aggressive traders take risks much more often and in large volumes. Large companies keep the maximum loss in the region of 15-20%. Optimal drawdown size The optimal drawdown size varies depending on many factors: the type of strategy, the amount of the deposit, the psychology of the trader, the timeframe, and so on. Drawdown can be divided into three types: A drawdown of 15-20% is working and quite normal. It can be restored, and it does not make strong adjustments to the trading strategy. A drawdown of 21-35% is a dangerous level of losses that will require a reduction in the volume of the trade and recovery can be difficult. Closer to the 30% mark, it is important to think about modifying the trading strategy and review it for errors in the risk management system. A drawdown of 36-55% is an actual harbinger of a loss of a deposit. It is better to close orders and think about what led to such a drawdown, which was not closed forcibly earlier. Drawdown reduction Setting a stop loss - and its size should not exceed 5% of the total amount on the trader's account. Optimal leverage - the use of a large amount of leverage can lead not only to drawdowns, but also to draining the trader's deposit to almost zero. Refraining from trading in an unstable market - very often a trader, observing even the first two conditions, still manages to lose almost half of his own funds during one session. Therefore, if you have made several unsuccessful transactions in a row, then it is better to give up trading for today and do something else. Correct assessment of probable profit - one should not be greedy when placing a take profit, its size should always correspond to the market dynamics. conclusions Every trader who wants to consistently earn money in the market must understand how much he is ready to lose, while the trader must do everything not to lose all his capital. You can lose 15% per month and it will not be scary for a trader who follows a trading strategy, money management and monitor losses. As a result, such a trader can return the lost next month. But those who do not follow these rules, do not think about a drawdown, do not know how much they are ready to lose and how much they cannot lose, as a result, everyone loses. Losses are inevitable, but don't let the market take everything. Good luck! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩
Education
by Lingrid
10
TRADING MYTHSHello traders! There is a lot of information about trading on the Internet and it is sometimes difficult to understand what is true and what is fiction. Today we will try to sort out the most popular myths and understand what is really true and what is not. Work without rest You have to work hard, but don't overdo it. If you watch charts 24/7 or study hundreds of systems, you will simply go crazy. There will be a mess in your head, and most importantly, you will be tired. Improve your skills and discipline, keep a trading journal and analyze trades, and don't forget to rest. It's a matter of discipline Discipline is a very important skill for a trader. Through discipline, you can control your emotions and follow the rules. But do not think that one discipline is enough to be a profitable trader. If you are losing money over and over again, it may be because of your trading strategy. Analyze your trading and find your style. Point of entry The entry point is very important when making a new trade. The better the entry point, the less the price will go against you if you have analyzed everything correctly. However, there are other factors that play an important role in trading: position size, stop loss, trade management, etc. The entry point is just a part of the whole work. Did you know that even with random entry points, you can still be profitable if you think about stop losses, position size, and trade management? Profitability Trading is not a one day job. And do not expect that you will take a huge profit in an hour. The main task is to be profitable at a distance. Don't run for quick profits. Remember that the more positions you open, the more likely you are to lose. Engage in consistent profits that are different for different trading styles. For scalpers, consistent returns mean making a profit every quarter. For traders who trade daily charts, consistent returns will mean making a year's worth of profits. Determine the value of constant return for yourself and follow the plan. Trading is a risk Every day carries a variety of risks. You run the risk of being hit by a car or having an accident. But after a few driving lessons, the risk of getting into an accident decreases. It's the same with trading. Over time, you will become more experienced and will become better versed in trading, thereby reducing the risks. Everything in life comes with some risk, and your job is to keep all possible risks to a minimum. Leverage There are a lot of advertisements on the Internet for brokers who offer crazy leverage. Brokers say that you can make 100% profit from one position, but they don't say that you can lose everything. Leverage in inexperienced hands will result in the loss of the entire account. Always remember that leverage is a double-edged sword. It can increase both your gains and your losses. Grail Everyone wants to find it! But he is not. The Grail does not exist, and professional traders do not have any secret. To be profitable you must have experience, knowledge and discipline. This is what distinguishes professionals from beginners. You can make $100,000 out of $1000 You often see ads that say you can make $100,000 out of $1,000. It is unlikely that there will be at least one newcomer who is able to do this. Seeing such an advertisement, beginners think that it is possible to do it in one transaction. In trading, you need to have a lot of money to earn a lot. If you have a small initial capital, then you will not be able to earn a million dollars in the short term. In the early stages, think about how not to lose capital, and only when you learn this, you will understand how to make a profit consistently. Where will the market go? In the beginning, every trader wants to know exactly where the price will go. Essentially, it means knowing the future, which is impossible. No need to try to predict the future, in trading you will earn thanks to probabilities. You should study this topic and understand that you don't have to be right on every trade. You can be wrong more than half the time in determining future price action and still be profitable. It is enough not to lose more than you earn. Cut your losses and let your profits run. Conclusion The world is full of trading myths. There are gigabytes of information around and it is very difficult to understand what is true and what is fiction, what is really useful and what is not. Study the market, but don't believe everything you read. Listen to the best, but don't forget to think with your own head .
Education
by DeGRAM
4
AN EXAMPLE ON TRADING "DOWNTREND" USING HEIKEN ASHI + EMAsThis is meant as a note to learn about using simple trend trades using heiken ashi candle and 10/30 EMAs. Notes: 1. Preferably watch a basic rules of Heiken Ashi Candle shapes. 2. Why Heiken Ashi is used? Less Noise, no reversal pattern, purely identification of trend and EMAs. 3. This demonstration using Zil/USDT is used as an "EXAMPLE" in a downtrend scenarios. (If you want to see how the uptrend works comment below). 4. Please DO your own research before using this strategy as this is not financial advice.
Education
by Lakehides
1
HOW TO TRADE PULLBACKSHello everyone! Today I want to discuss pullback trading with you. You may have come across such a situation when you were waiting for a pullback to enter the market, but the price did not stop and went further. In the place where you expected the end of the rollback, there was a breakdown, and you did not receive an entry point. Something went wrong? Trend Trend is our friend! The most famous and most important rule. At the beginning of any market analysis there must be a trend definition. If you want to trade pullbacks correctly, you must determine the direction of the trend. If you are trading on the hourly chart, you must determine the direction of the trend on the daily chart and wait for the right situation on your chart, while trading, of course, with the trend. There must be a trend in the market in order to trade on a pullback. Trend types Trends are different, of different strengths. They can be divided into three types: 1. When the price bounces off the 20MA and stays higher, we say the market is in a STRONG TREND. 2. The price bounces and stays above the 50MA - GENERAL TREND. 3. The price reaches and bounces from the 200MA - WEAK TREND. Knowing these types of trend and being able to understand the movement will help us enter the market at the right point. Point of entry The entry points will be the areas around the MA lines. Here it is worth focusing on the word REGION. You must understand that the price can go below or above the MA and only then turn around, be prepared for this. Entry on a strong trend In a strong trend, the price stays above the 20MA. At the same time, you need to remember that with a strong trend, rollbacks are not deep. This means that finding the entry point will not be so easy. But you can open a position after the breakdown of the last maximum. Entry on a regular trend In a normal trend, the price makes deeper pullbacks. The price is testing the 50MA, while the previous resistance may become support. These are the moments we are looking for to enter. In such zones, we will wait for a price reversal candlestick pattern to enter. Entry on a weak trend In a weak trend, pullbacks are even deeper than in a normal trend. The price makes a strong pullback, reaching 200MA. When the price of the zone is reached, we are waiting for confirmation - a candlestick formation. Closing positions Closing a position is just as important as opening it. The main signals for closing will be the price movement beyond the MA line. For example, in a market with a strong trend, the price may go a little lower than 20MA, which is not critical yet, but it makes you be more careful. It is worth paying attention to the support level, which should not be broken by the price, but if the price still breaks through the level, then the position must be closed. With a weak trend, it is worth remembering that pullbacks can be deeper and the price will go beyond 50MA. You must be prepared for this. Watch for a support level that should not be broken. With a weak trend, holding a position is the most difficult. The price will make strong pullbacks, which will eventually force you to close the trade. Sometimes the price, having reached the desired zone, does not bounce right away. Consolidation begins and if you see such a situation, the best entry option would be to exit the consolidation zone. You must have a plan for every occasion. conclusions Trading with the trend is the most profitable business. You must be able to identify the trend on the higher timeframe and, importantly, be able to wait for the right situation on your timeframe. The market cannot be predicted with 100% certainty, so use stops and keep an eye on support and resistance levels. Good luck! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩
Education
by Lingrid
9
DOGEUSD: Calculating the next move using Fibonacci (Education)Hey traders! I wanted to post a video about how to use the Fibonacci retracement and extension tool to help you with calculating your own analysis as well as give you mine on Dogecoin. I really hope this helps you out if it does please let me know in the comments and like the video. Let me know if there's anything else you would like to learn about. If I know it I will share my knowledge. Thanks and I'll catch ya later.
BINANCEUS:DOGEUSDShort
by PierreFX
CONQUER YOUR EMOTIONSHello everyone Today I want to talk about a very important topic in trading – emotions. Emotions accompany us in trading from beginning to end: when we open a position, while we hold and when we close. Our psychological state is constantly being tested. All this leads to constant mistakes and loss of money. But how to avoid all this? The main reason Think about what is the main reason for your emotional swings? It may seem strange, but the main reason for emotional mistakes is the continuous observation of the price chart. You constantly look at the chart, watch every tick, the price changes its direction every second, you overwork and begin to doubt the correctness of your forecast. At the same time, it is worth recalling that people like to watch: movies, magazines, books. We are constantly looking at something and looking for something new. Forex is interesting because there is money there. When a position is open, traders are happy to follow every price movement. And when the position is not open, what do you do? That's right, you don't look, because looking at the market is just so boring. If the position is open, it is difficult to resist and not look at the chart. What is the reason for the shaky psychological state of the trader? Your drug Constant monitoring of the price leads to addiction. You get tired, the exhausting observation of how profit comes and goes, leads to big mistakes. Continuous emotional roller coasters kill the desire to trade in us and at some point, on a subconscious level, you want to lose everything just to get away from the monitor. Familiar? How to overcome emotions? There are many different ways, today we will look at three that will help you avoid emotional overload. 1. Use a higher timeframe If you trade on minute charts and experience problems with emotions and fatigue, you should switch to an older timeframe. If you start trading, for example, on a daily chart, there will be no need to look at the chart every minute, because the price does not move so fast. The daily or 4-hour schedule does not change so often and it will be enough for you to look at the chart once or twice a day. Thus, you will remove from the equation the constant monitoring of the schedule, which leads to fatigue. You will have fewer mistakes, which means more profit. 2. Daily goals A great way to reduce emotional pressure is to set goals. The point is that you set yourself a certain profit and loss goal every day, and when you reach one of the indicators, trading for you stops today. You can set yourself a profit and loss goal, for example, of 50 points. As soon as you earn or lose 50 points, you go to rest until the next day. This is a great way, and it will definitely help to avoid over-trading. But not everyone can force themselves to leave, especially after losing money. Follow the strategy, otherwise you will be pursued by losses. 3. Lot reduction For many, this method may seem strange. After all, everyone thinks only about profit and how to get it quickly. The market is a dangerous place and there is no need to hurry here. Reduce the position by 5 times and you will see the difference in your trading. You will stop making mistakes, you will follow the strategy. But why? The problem is that when trading large lots, the trader thinks only about money, forgets about risks and rules. This is how the trader drains the account. When trading small volumes, your brain will be free from thoughts of quick profit. YOU will become more reasonable and attentive. Results Emotions will not go away and the market will always test you. Strong emotional swings make you make mistakes and lose money. Use the methods listed above and control over emotions will come, the results will improve. May peace come with you! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩
Education
by Lingrid
22
Explaining Pine Script keywords: 'var' and 'nz' Life is about learning, but frequently these things seems difficult if not impossible. When you don't know anything about a certain subject, it can be daunting, but when ​you know plenty of it, it is easy! Coding/scripting can be very daunting, and sometimes difficult to overcome 'basic' things. It is perfectly normal that some 'basic' stuff are very difficult to grasp in the beginning (and the 'beginning' can take longer then you would think) With this tutorial I want to make it a bit easier to get to know certain keywords like 'var' and 'nz' Besides these links var www.tradingview.com www.tradingview.com nz www.tradingview.com www.tradingview.com I wanted to add a bit of extra help, making it easier to understand the concepts of 'var' and 'nz' The following 2 scripts are best used on a Monthly Timeframe with a Ticker that exists longer then 2 years (example Bitcoin) After you've loading the script on your chart, open the console so you can read and follow the instructions and explanation in the script. var nz www.tradingview.com In this way I hope I can facilitate the comprehension of these keywords! In the future I intend to make more tutorials regarding pivot points, array's, loops, ... Cheers! A: How to get to be the best? B: Make no mistakes A: how do I make sure I don't make mistakes? B: By learning A: How do I learn? B: By making mistakes
COINBASE:BTCUSDEducation
by fikira
4
MY FIB SPEED RESISTANCE FAN TRADING STRAT : ) Hi! I'm xtekky and this is my tutorial on how to use the Fibonacci speed retracement tool- I used Apple (AAPL) as an example to display the tutorial. Steps: (1) Open the fib retracement section on the left bar and select the " Fib Speed Retracement Fan" (2) According to your trading style, select the timeframe I indicated in the chart - to begin with - you can then choose the timeframe you are most comfortable with. (2) Define the begin of an uptrend (after last retracement or reversal) and place your first point (3) Define the end of the uptrend (after last retracement or reversal) and place your second point - if there isn't any recent retracements / reversals, you can take previous ones or the highest recent value (4) Define the most relevant percentage (38.2% on this chart) but it may as well be another level - note that fib levels 38.2% and 61.8% are often the most relevant ones (5) Let the stock / crypto test the level once or twice to make sure it holds, you can of course jump in directly if you are confident. (6) Take Longs and Shorts in the "Channel" Advanced: (7) Use momentum reversals (Squeeze Momentum from @LazyBear is the best indicator for me) to define more precisely when to jump in - note that the price doesn't always trade in the channel, there are some false breakouts and/or the price sometimes reverses a bit further. (8) Use volume support / resistance zones (9) Include Imbalances in the prices (If the Crypto/Stock you trade has a high volatility/manipulation rate) If you want more complex tutorial, you can see a more detailed vid on the Ytb profile linked to this Tradingview account Disclaimers: !! This is not an investment advice and you shouldn't use this technique alone !! !! Never invest/trade with more money than you can afford to loose !! ------------------------------------------------------------------------------------------------------------------------------------------------------------ That's pretty much it! don't forget to ask or DM if you have any questions! If you want to follow me on this long journey ahead of us, you can support me by subbing and liking the post ! -Credits to xtekky-
NASDAQ:AAPLEducation
by xtekky
1
Bites Of Trading Knowledge For New TOP Traders #8 (short read)Bites Of Trading Knowledge For New TOP Traders #8 --------------------------------------------------------------- What is a Digital Asset Wallet? – A Digital Asset Wallet is a technology-based tool used to interact with a blockchain network. There are two types of wallets commonly grouped as software and hardware wallets. Alternatively, depending on their working mechanisms, they may also be referred to as “hot” or “cold” wallets. Digital asset wallets generate the necessary information to send and receive digital tokens (“tokens”) via blockchain transactions. Significant information contained in the wallet includes an “address”, an alphanumeric identifier that is generated based on the public and private keys. It is a specific location on the blockchain to which tokens can be sent to and it may be publicly shared with others. The private key should not be shared as it gives access to tokens held by the user, regardless of the type of wallet used. Digital assets essentially never leave the blockchain as they are just transferred from one address to another within the blockchain network. What is the difference between a “Hot” and “Cold” Wallet? – Digital asset wallets may be defined as “hot”, “warm” or “cold,” according to their working mechanisms or the way they operate. A hot wallet is any wallet that is continuously connected to the Internet. These wallets are easy to set up and enable funds to be readily accessible, making them convenient for users to transact. Centralized finance exchanges (CeFi) tend to provide their users with wallet technology to access their accounts, whereas decentralized finance exchanges and applications (DeFi) would require users to obtain a third-party wallet technology provider that allows them to connect to DeFi services. Cold wallets are not connected to the Internet and use a physical medium to store information offline, such as private keys, making them resistant to online hacking attempts. While less convenient, cold wallets serve as a safer storage option. RISKS AND OPPORTUNITIES FOR CORPORATES AND INDIVIDUAL INVESTORS – Portfolio Focused on Global Macro Strategies – Global macro strategies are used by funds to base their holdings on their overall economic and geopolitical analysis of various countries. Holdings may include long and short positions in various equity, fixed income, currency, commodities, and futures markets. These funds take longer-term directional views of markets and may not always hedge their positions, but could actively manage their fund to take advantage of what they see as short-term moves opposite to their main view. An individual investor with a long-term view of Brent crude oil who maintains long dated futures positions could consider using front or near month Mini Brent Crude Futures to actively take advantage of shorter-term retracements to certain price levels. TRADDICTIV · Research Team -------- Disclaimer: We do not provide investment advice, nor provide any personalized investment recommendations and/or advice in making a decision to trade. Before you start trading, please make sure you have considered your entire financial situation, including financial commitments and you understand that trading is highly speculative and that you could sustain significant losses.
ICESG:SDX1!Education
by traddictiv
SECRETS OF PROFITABLE DAY TRADING. №2. Continuation of the first part. SECRET 6 - High Time Frames Watch the situation on high timeframes. Watch out for high time frame trends. Often, this is how beginners open positions against the trend, do not follow higher timeframes. At the same time, there are situations when a correction has begun on a smaller timeframe, which is not yet visible on a higher timeframe. Such situations can be traded, but you should be very careful. SECRET 7 - Daily drawdown You should limit your losses per day. Choose for yourself a suitable value for losses and profits, upon reaching which, you will stop trading that day. If you decide that your daily drawdown is $100, this means that if you get a loss of $100, you will stop trading that day and do not make stupid trades in the hope of winning back. Hope for wagering - always leads to the drain of deposits from beginners. Control emotions and losses. SECRET 8 - Trading Sessions A day trader wants to make a quick profit and get out of the market, so it's important to keep an eye on the trading sessions and know when the market is most active. The European session, intersecting with the American one, creates the most volatile time on the market. At this time, the market moves faster, which will give you the opportunity to earn quickly. But do not forget about the risks, such volatility can bring losses just as quickly. It is worth remembering that the end of the Asian session and the beginning of the European one is a great time for reversal setups. SECRET 9 - Daily Volatility Each pair has its own daily volatility. And, if you know this value, it will be easier for you to understand when the movement potential is likely to be exhausted. These values ​​can be found on the Internet for each pair. SECRET 10 - Carrying positions through the night Very often, beginners make this mistake - they transfer positions to the next day. Do not forget that you opened on an intraday setup, that is, this setup most likely will not work the very next day. Tomorrow, and maybe even at night, the market will behave differently, go against you and reach your stop. Don't go against your strategy, follow its rules. conclusions Day trading is not easy, but it can be learned. In addition, it is very profitable. Good for overclocking a small account. But don't forget the rules. Don't go against the market, follow the strategy. Good luck!
Education
by DeGRAM
2
FEW SIMPLE TIPS TO IMPROVE YOUR TRADING PERFORMANCEToday we prepared for you few simple tips that may help you improve your trading performance. Please feel welcome to share your own tips in the comment section. Educate yourself. No trader can become successful without spending plenty of time studying charts, fundamentals and technicals. Nowadays, there are plenty of financial gurus and trading courses which claim to offer knowledge that will transform you into a professional trader in just a short amount of time. Unfortunately, most of these services offer only shallow information that has no use in the real trading world. In our opinion, literature written by renowned traders and economists offer more profound knowledge and usually at better cost. Analyze your trades and strategies. Analyzing your past trades and strategies can help you learn from your mistakes. Additionally, it can help you recognize what you did correctly and what works for you. Do not trade without a proper trading plan. Each trade should have a proper trading plan. This plan should at least consist of entry/exit points and risk/reward evaluation. However, creating different scenarios for each trade can help you navigate the market even better. Evaluate your risk/reward associated with each trade. Each trade has a risk/reward ratio tied to it. Generally, a risk/reward ratio of 1:3 or more is preferable. Do not chase the market when you are not sure where it is headed next. There are times when the market is very volatile and experiences swings from side to side. Often, in such times, a trader may be unable to tell where the market is headed next. On such occasions it is usually better to take a step back and not to trade. This can help avoid loss of capital due to whipsaws. Take a time off after the winning streak. Winning streaks often result in confidence being gained by a trader. However, many traders tend to get overconfident which usually leads to loss of capital that has been amassed through the winning streak. Therefore, it is usually better to take some time off trading after substantial gains were made. Take a break from trading after the losing streak. Losing streak can negatively affect a trader's decision making. It can often result in loss of confidence and a needy feeling to make money back. However, a trader should resist these urges and take some break from trading. This is mainly because if a trader does not have confidence, it is much harder to execute trade properly. Do not overtrade. Sometimes there are no good trading opportunities. In such times it is usually better to take the role of market observer instead of trying to make money at any cost. DISCLAIMER: This content serves educational purposes only. It is not financial advice.
TVC:NDQEducation
by Tradersweekly
8
Two Types of Elliot Wave CorrectionsWhen it comes to Elliot Wave Theory, we know of two different correction patterns . On the left you can see the classic correction, which is less common in real market situations. On the other hand, the flat correction (right) occurs more frequently in the market, since modern price action is often characterized by fakeouts . In this case, a fakeout looks like a wave B making a new high above wave A. In most cases, traders would open a trade here due to a structural break, which then runs against them (bull or bear trap). In the following table you can see how the respective correction patterns differ from each other and what you need to pay attention to. It is very important that you learn how to use Fibonacci tools correctly so that you can calculate the wavelength properly. Maybe I'll do a separate educational post on the proper use of those tools in future. Thank you very much for your attention, Your RT
COINBASE:BTCUSDEducation
by RT_Trading_
9
2 Types of Flags / Trading Range and Channels as FlagsWe have two flags in trading: First: Horizontal flags (Trading Range). These flags are the strongest type of flag. Horizontal flags indicate that the opposite side of the trend is incapable of creating a highs/lows opposite trend. Second: Flag with minor highs/lows. This type of flag is weaker than the first one. The opposite side of the trend was able to create the opposite highs/lows (Minor highs/lows). Flags Tips: 1) Before trading with flags, always check out the trend before them. Trends must be strong so the possibility of flag breakout increases. 2) After checking the trend before flag, check out the candles within flags. Less than 20 bars in Horizontal flags is acceptable but more than 20 bars make the market Neutral with 50-50 chance of breakout. Also in flags with minor highs/lows you have to check the latest major high/low and the opposite side must not reach that major high/low otherwise trend may be reversed. According to the points mentioned about flags, we examine the bitcoin chart: If we zoom out on the chart, we see a large trading range that we have already had a strong uptrend. This range is an ascending flag but has more than 20 candelabra, which indicates that both sides of the market are active. Within this range, a tight downtrend channel has formed over the past few weeks. It is true that we do not have a downtrend before this channel, but we consider it an ascending flag and expect it to break upwards.
Education
by AmirSoraya
83