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ZEN

Tired of Losing?"The Market cannot hurt Me. I can only hurt my Self!" - Josh Ridenour There is a Time for Losing - The 29th verse of the Tao Te Ching is about how there is a time for everything in life. A time for being ahead, a time for being behind. In the market, there is also a time for everything. A time for large profits, small profits, break even trades, losers, and consecutive losers which lead to a draw down. It is easy to get caught up in the heat of the moment depending on where you currently are. But it does not really matter what part of the cycle you are in, it is all part of a traders life and the cycle of a trading performance. Stop Predicting! It is a false belief to believe prices and markets can be predicted. If it were possible eventually the majority of market participants would figure it out and there would be no one left on the other side of the trade, and the market would cease to exist entirely. If it were possible to predict markets, you could avoid losing trades and only take winners. Anyone who has been trading for very long knows this is simply not the case. The problem with making predictions is you then shut your mind off from the information the market gives you. Instead of being open to what is happening, your mind becomes rigid and can only take in what confirms your beliefs. This prevents you from being able to flow with the market, and open your self to the opportunity in front of you. The best traders admit when they are wrong, get out, and even reverse if necessary. If you dont believe this - listen to a stock analyst on Mad Money or any other TV show about stocks. They are often so confident in what they say that they might even convince you! But there is a reason why he is on TV talking about markets, and not trading them. If he could trade the markets and make money he would have no reason to go on TV as the financial rewards are miles apart. In fact, analysts make the worst traders because they are so caught up in their thoughts and beliefs about market direction that they cannot trade effectively! Cease efforts "Wu Wei" In Eastern Philosophy there is a term "Wu Wei." It cannot be fully understood or explained in words, only experienced. At the essence of its meaning is to "Let be" to "allow" or "flow like water down a stream." The point is to stop resisting, and stop trying so hard. The harder you grasp at something, the harder you try to succeed, the more you fail. If you are constantly trying to make money, and constantly trading, you are probably not making a consistent return. Rather than trying so hard, let trading come naturally. Profitable trading is effortless. It does not require thought, only action. In fact, I try to do as little as possible, and trade as little as possible. My most profitable weeks I hardly trade at all! This has become a fundamental aspect of my trading system. Instead of constantly trying to make money all the time, I simply wait for a pot of gold to be in front of me before I do anything. Then, I take it. Again if you dont believe me; try as hard as you can tomorrow to make as much money as possible and see what happens! Stop Trying to Remove or Control Emotions - Most traders who have been trading for a while come to the idea that emotions prevent them from success and are standing in their way. I know, as I have been there. And so we try as hard as we can to remove emotions from our trading. There is a problem with this concept. You are a human right? As long as you are human, you will have emotions; no matter how hard you try to remove them. It is simply not possible. So removing emotions or attempting to do so is the wrong approach. Instead; use your emotions to your advantage! They are warning signs; listen to them. Then there is the negative internal dialogue which the market often brings out. After a series of losing trades, many traders get upset and feel bad. They blame the market for taking from them, and feel like a loser. How do you think a trader will perform after feeling this way for a few days or longer? His performance suffers as he tries to take back what was once his and he compounds his mistakes by trading out of a negative mindset. You have to learn to recognize and become aware of your internal dialogue. It is very important to your trading career, and your every day life. Most of us live our lives without the slightest idea as to what we are doing to our selves. Your mental structure is a choice. This is what I mean when I say "The Market cannot hurt me, I can only hurt my Self." My Trading Psychology book "A Traders Mentality - The Path of Self Discovery and Being a Trader" is all about these ideas and how to free your mind and better your trading performance. If you found this helpful, please like! Feel free to comment or ask questions.
Education
by tradersmentality
ZEN (Horizen) 80-100% Profit Potential...!!ZEN (Horizen) - Falling Wedge Breakout Done. (Bullish) - Volume is Incredible - RSI Bullish Divergence in Daily Timeframe. - TK Cross Expected In Coming Days. (Bullish) - Wait For Trendline Retest For Entry. - Midterm Targets 1020 - 1288 - 1663 Sats - Stop Loss Below 6600 Sats Or According to your Risk. Introduction..!! Horizen (formerly ZenCash) is an incentive-driven application platform with optional zk-SNARK based privacy features that aims to provide everyone with complete control of their digital footprint. Launched in May 2017 (no ICO and no pre-mine), the leading-edge platform enables real-life use cases beyond the ZEN currency, including the ability to privately chat with others, publish information and go anywhere on the web with complete privacy. Hit Like On Idea For Support & Follow Me For More Interesting Ideas. Thanks
Long
by Faibik
2
ZEN Setup ready! Only 1:8 Risk for this one!Trading Signal - BUY My buy price - 1121 My (Trailing) Profit Take - 1200** My (Trailing) Stop Loss - 1100 **Trades are valid for about 8-12x the Timeframe (e.x 30min = 4-6 hours valid) after that, anything can happen. For both my Profit / Stop I use a so called Trailing Profit Take or Trailing Stop Loss to Maximize my ROI! This is made possible by 3Commas.io A very easy to use solution for automated trading. If you want to contribute please use my referal link 3commas.io -10% Discount on the first purchase of subscription. When you do, I'am always available for questions! Take a look at My Twitter and follow for direct notifications of new signals!
Long
by Riptonair
There is a possibility for the beginning of an uptrend in ZENETHTechnical analysis: . Horizen/Ethereum is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 37. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.03900 to 0.03600). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.03900) Ending of entry zone (0.03600) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons: Take Profits: TP1= @ 0.04420 TP2= @ 0.05170 TP3= @ 0.05780 TP4= @ 0.06390 TP5= @ 0.07260 TP6= @ 0.08360 TP7= Free
Long
by ForecastCity
2
There is a possibility for the beginning of an uptrend in ZENETHTechnical analysis: . Horizen/Ethereum is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 37. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.03900 to 0.03600). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.03900) Ending of entry zone (0.03600) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons: Take Profits: TP1= @ 0.04420 TP2= @ 0.05170 TP3= @ 0.05780 TP4= @ 0.06390 TP5= @ 0.07260 TP6= @ 0.08360 TP7= Free
Long
by ForecastCity
4
MOST IMPORTANT TRADE LESSONS!Lesson 9 Trading Psychology is Important When you look at the market you should see your self. The market is a collection of buyers and sellers. You are a participant in that marketplace, and therefore you are the market. How can you understand the market without understanding yourself? The mental landscape of a trader is extremely important and very valuable to a profitable trader. Those that do not understand this, are likely not making money in the market. Most people wanting to be traders never stop to consider this, and they think it is more knowledge about markets they need to make money. Most of the time it is what is going on in their mind that needs work. If you think you are going to wake up one day and be a profitable trader without working on your self, you are mistaken. If you think you are going to read a few books or watch 100 videos on trading and walk into the market the following week and make money, the traders who know the value of internal work will thank you for your money! Of course you must first understand markets, price action, the traders equation, and how to read a chart. But after that you must move on and dive into your trading psychology . It is not understanding markets that brings money into your account. It is your understanding of your perceptions of the market, awareness of your internal dialogue, thoughts, and emotions, along with your knowledge of the market. Ultimately it is your actions that are generated from these that dictate whether or not you will make money. If you do not understand what is happening within your mind at any given time, you are unlikely to achieve consistency long term. Sure you may pick a few good trades. Anyone can find themselves in a winning trade, even those who know nothing about markets. But will they continue to perform well over a month or a year? It is very unlikely. Trading psychology is vital to trading, whether you choose to accept it or not. The market is a paradox, a contradiction. If your mind is tied up and you are unaware, you will make poor actions in the market. Your mind must be free. Free to flow with the market, regardless of what you want or expected. You must be able to bring your mind back to the market and the necessary action right now. If not, you will be stuck within thoughts of what happened 5 minutes ago, or held by anger and frustration for what the market should be doing. If you do not devote time to understanding your mental landscape you will never grow, and never escape the mental turmoil which the market can cause, no matter how much time you devote to understanding what markets do.. For more information on how to develop this awareness or understand your self on a deeper level, see trading psychology. Lesson 10 Allow for windfall profits Many traders believe they must hold for a reward of twice their risk or believe they have high probability and so exit at one times the risk before the market takes it back. These concepts and ideas are more likely to hurt your performance than benefit it. The truth is, the market offers what it offers, and that's it. Sure sometimes its exactly 1x the risk or twice the risk. Other times it is much more. Cutting a winning trade just because it is reasonable, does not make it the best choice. In fact, when you are in a position with exceptional follow through, you must allow it to flourish. In other words, you must allow it to grow into a windfall profit. It only takes 1 out of 10 of these types of trades to create a positive net result. If you cut this 1 trade short because the market has gone to twice your risk, you are only hurting yourself and your numbers. This is like cutting a flower when it is just starting to bud. You do not allow the flower to bloom , and prevent the beauty which will soon appear. Instead you must nourish the plant, give it water, and allow it to grow into what it can be. Cutting a winning trade short is a self inflicted wound. This is often due to fear such as fear of a reversal, or fear of giving back profits. Thoughts of getting back what you previously lost, or hanging on to what you have right now is what leads to these poor actions. Being unwilling to allow for a pullback against the position which is necessary to allow it to grow. So how do you know when to hold and when to exit? That takes experience. What is important is your willingness to learn, and openness to allow a great trade to flourish. However there are signs which can help you identify which trades are likely to turn into a windfall profit, and those that you should take what the market offers you. For clarity and more information on this see Investing Guide. *If you find this analysis helpful please like! Feel free to comment or ask questions.
COINBASE:BTCUSDEducation
by tradersmentality
THE MOST IMPORTANT LESSONS! Lesson 9 Trading Psychology is Important When you look at the market you should see your self. The market is a collection of buyers and sellers. You are a participant in that marketplace, and therefore you are the market. How can you understand the market without understanding yourself? The mental landscape of a trader is extremely important and very valuable to a profitable trader. Those that do not understand this, are likely not making money in the market. Most people wanting to be traders never stop to consider this, and they think it is more knowledge about markets they need to make money. Most of the time it is what is going on in their mind that needs work. If you think you are going to wake up one day and be a profitable trader without working on your self, you are mistaken. If you think you are going to read a few books or watch 100 videos on trading and walk into the market the following week and make money, the traders who know the value of internal work will thank you for your money! Of course you must first understand markets, price action, the traders equation, and how to read a chart. But after that you must move on and dive into your trading psychology. It is not understanding markets that brings money into your account. It is your understanding of your perceptions of the market, awareness of your internal dialogue, thoughts, and emotions, along with your knowledge of the market. Ultimately it is your actions that are generated from these that dictate whether or not you will make money. If you do not understand what is happening within your mind at any given time, you are unlikely to achieve consistency long term. Sure you may pick a few good trades. Anyone can find themselves in a winning trade, even those who know nothing about markets. But will they continue to perform well over a month or a year? It is very unlikely. Trading psychology is vital to trading, whether you choose to accept it or not. The market is a paradox, a contradiction. If your mind is tied up and you are unaware, you will make poor actions in the market. Your mind must be free. Free to flow with the market, regardless of what you want or expected. You must be able to bring your mind back to the market and the necessary action right now. If not, you will be stuck within thoughts of what happened 5 minutes ago, or held by anger and frustration for what the market should be doing. If you do not devote time to understanding your mental landscape you will never grow, and never escape the mental turmoil which the market can cause, no matter how much time you devote to understanding what markets do.. For more information on how to develop this awareness or understand your self on a deeper level, see trading psychology. Lesson 10 Allow for windfall profits Many traders believe they must hold for a reward of twice their risk or believe they have high probability and so exit at one times the risk before the market takes it back. These concepts and ideas are more likely to hurt your performance than benefit it. The truth is, the market offers what it offers, and that's it. Sure sometimes its exactly 1x the risk or twice the risk. Other times it is much more. Cutting a winning trade just because it is reasonable, does not make it the best choice. In fact, when you are in a position with exceptional follow through, you must allow it to flourish. In other words, you must allow it to grow into a windfall profit. It only takes 1 out of 10 of these types of trades to create a positive net result. If you cut this 1 trade short because the market has gone to twice your risk, you are only hurting yourself and your numbers. This is like cutting a flower when it is just starting to bud. You do not allow the flower to bloom, and prevent the beauty which will soon appear. Instead you must nourish the plant, give it water, and allow it to grow into what it can be. Cutting a winning trade short is a self inflicted wound. This is often due to fear such as fear of a reversal, or fear of giving back profits. Thoughts of getting back what you previously lost, or hanging on to what you have right now is what leads to these poor actions. Being unwilling to allow for a pullback against the position which is necessary to allow it to grow. So how do you know when to hold and when to exit? That takes experience. What is important is your willingness to learn, and openness to allow a great trade to flourish. However there are signs which can help you identify which trades are likely to turn into a windfall profit, and those that you should take what the market offers you. For clarity and more information on this see Investing Guide. *If you find this analysis helpful please like! Feel free to comment or ask questions.
A
by tradersmentality
Lessons from an Experienced Trader #3Lesson 7 Trade Outcome is Random The outcome of any given trade is random, no matter how strong your edge is. It is impossible to predict whether a trade will result in a loss, decent profit, or a windfall profit. Contrary to what most Price Action traders and price analysts believe, you cannot and will never be able to predict the market. Most amateur traders fail to recognize this fact, or deny this reality altogether. They believe eventually, they will be able to avoid losing trades and pick winners. They do not understand the outcome of any given trade is random, and therefore impossible to know before hand. Consider weather prediction as an example. Meteorologists have highly sophisticated weather models and algorithms to predict weather behavior, just like traders and institutions in the market. Yet the weathermen cannot accurately predict what will occur. They can say "There is a 60% chance of rain today if you live in X." But they cannot say exactly when or where rain will fall. It is the same in the market. You may have a good idea of what may occur, and even be right! However, there is still a reasonable chance (usually around 40%) that you are wrong, and the exact opposite will occur. The market is always right. It does not matter what you think or believe should or will happen. All that matters is what is happening. Just because a trade looks good or an edge is strong, does not mean it will result in a profit. There is still an opposing probability that it will fail. The point is that you will never know beyond a reasonable doubt what the market will do next. You may have a hunch, or a strong edge, but that will only get you so far. Therefore the only thing to do is to always take your edge, because you never know if this will be the windfall profit you are looking for, a small profit, or a loss. And quite frankly, it does not matter! Lesson 8 Market Outcome Does Not Matter The outcome of any single trade does not matter. It is very common for traders to become attached to the outcome of this individual trade. This is what leads to emotions, anger and frustration with trading and the market. We get stuck in the mindset that we have to win X amount of profit like 2X risk on this trade, or have to make money every day to be a profitable trader. This is not the case at all. In fact you only have to win one 1 or 2 really good trades out of 10 to maintain a consistent performance. Any single trade is irrelevant to a trading system or strategy. It is the cumulative result over a series of trades that results in a profit. This is why it is so important to know and only trade your edge, otherwise you introduce randomness into your performance, and are unable to produce consistency. *If you find this analysis helpful please like! Feel free to comment or ask questions.
AEducation
by tradersmentality
2
Lessons from an Experienced Trader #3Lesson 7 Trade Outcome is Random The outcome of any given trade is random, no matter how strong your edge is. It is impossible to predict whether a trade will result in a loss, decent profit, or a windfall profit. Contrary to what most Price Action traders and price analysts believe, you cannot and will never be able to predict the market. Most amateur traders fail to recognize this fact, or deny this reality altogether. They believe eventually, they will be able to avoid losing trades and pick winners. They do not understand the outcome of any given trade is random, and therefore impossible to know before hand. Consider weather prediction as an example. Meteorologists have highly sophisticated weather models and algorithms to predict weather behavior, just like traders and institutions in the market. Yet the weathermen cannot accurately predict what will occur. They can say "There is a 60% chance of rain today if you live in X." But they cannot say exactly when or where rain will fall. It is the same in the market. You may have a good idea of what may occur, and even be right! However, there is still a reasonable chance (usually around 40%) that you are wrong, and the exact opposite will occur. The market is always right. It does not matter what you think or believe should or will happen. All that matters is what is happening. Just because a trade looks good or an edge is strong, does not mean it will result in a profit. There is still an opposing probability that it will fail. The point is that you will never know beyond a reasonable doubt what the market will do next. You may have a hunch, or a strong edge, but that will only get you so far. Therefore the only thing to do is to always take your edge, because you never know if this will be the windfall profit you are looking for, a small profit, or a loss. And quite frankly, it does not matter! Lesson 8 Market Outcome Does Not Matter The outcome of any single trade does not matter. It is very common for traders to become attached to the outcome of this individual trade. This is what leads to emotions, anger and frustration with trading and the market. We get stuck in the mindset that we have to win X amount of profit like 2X risk on this trade, or have to make money every day to be a profitable trader. This is not the case at all. In fact you only have to win one 1 or 2 really good trades out of 10 to maintain a consistent performance. Any single trade is irrelevant to a trading system or strategy. It is the cumulative result over a series of trades that results in a profit. This is why it is so important to know and only trade your edge, otherwise you introduce randomness into your performance, and are unable to produce consistency. *If you find this analysis helpful please like! Feel free to comment or ask questions.
Education
by tradersmentality
Overcoming Emotions and Zen TradingOvercoming Emotions Most traders want to "overcome" their emotions. They view thoughts and emotions as the enemy which prevents them from succeeding in the market. This is a false perception. Yes emotions and thoughts can lead to actions in the market, but they are impossible to remove. So long as you are human you will have emotions and thoughts. There is an alternative to removing them, and that is to use them to your advantage in the market. By practicing mindfulness, which is awareness of thoughts, emotions, and perceptions, you can learn to recognize how these affect your trading performance. By recognizing and being aware of them, you have a chance to change the outcome. For instance if you consistently enter poor trades due to fear of missing out. When you become aware of this fear you can learn to stop yourself from entering and avoid the poor trades that hurt your performance. There is a direct correlation between how you feel about yourself or the market, and how you perform. If you are worried about money you will overly focus on risk or prices going against your position even if only slightly, and likely make a mistake by exiting too soon. Or you do not want to take the loss and will hold the trade too long, hoping the market will let you off the hook with a smaller loss. What is Zen Trading about? Zen trading is a mindset of flowing with the market without hesitation, being aware of and trading along side emotions, and making actions intuitively rather than forcefully. A Zen trader remains in a relaxed, effortless state of mind; without any internal struggle. He does not attach his self worth to his performance at any given time, and is unhindered by market outcomes. He acts on his edge when it is present without hesitating, and takes what the market gives him when it is time to do so. He trusts himself, his strategy, and the market to provide him with a consistent performance over time; whether or not he makes money on this trade, today, or this week. He is aware of the bigger picture; the Tao or life, and knows there is more to life than trading or money. Trading is not his life. It is simply something he does to earn a living, and he seeks to maintain a Zen spirit in his trading and actions in the market. *If you find this analysis helpful please like! Feel free to comment or ask questions.
COINBASE:BTCUSDEducation
by tradersmentality
Overcoming Emotions and Zen TradingOvercoming Emotions Most traders want to "overcome" their emotions. They view thoughts and emotions as the enemy which prevents them from succeeding in the market. This is a false perception. Yes emotions and thoughts can lead to actions in the market, but they are impossible to remove. So long as you are human you will have emotions and thoughts. There is an alternative to removing them, and that is to use them to your advantage in the market. By practicing mindfulness, which is awareness of thoughts, emotions, and perceptions, you can learn to recognize how these affect your trading performance. By recognizing and being aware of them, you have a chance to change the outcome. For instance if you consistently enter poor trades due to fear of missing out. When you become aware of this fear you can learn to stop yourself from entering and avoid the poor trades that hurt your performance. There is a direct correlation between how you feel about yourself or the market, and how you perform. If you are worried about money you will overly focus on risk or prices going against your position even if only slightly, and likely make a mistake by exiting too soon. Or you do not want to take the loss and will hold the trade too long, hoping the market will let you off the hook with a smaller loss. What is Zen Trading about? Zen trading is a mindset of flowing with the market without hesitation, being aware of and trading along side emotions, and making actions intuitively rather than forcefully. A Zen trader remains in a relaxed, effortless state of mind; without any internal struggle. He does not attach his self worth to his performance at any given time, and is unhindered by market outcomes. He acts on his edge when it is present without hesitating, and takes what the market gives him when it is time to do so. He trusts himself, his strategy, and the market to provide him with a consistent performance over time; whether or not he makes money on this trade, today, or this week. He is aware of the bigger picture; the Tao or life, and knows there is more to life than trading or money. Trading is not his life. It is simply something he does to earn a living, and he seeks to maintain a Zen spirit in his trading and actions in the market. *If you find this analysis helpful please like! Feel free to comment or ask questions.
by tradersmentality
1
Lessons from an Experienced Trader #2Lesson 4     Know what you want in the market  Contrary to what most believe, successful traders do not actually trade constantly.  Attempting to trade constantly leads to increased commission costs, random trading, and compound mistakes.  In fact, successful traders spend most of their time doing absolutely nothing!  How long does it take to enter an order?  A click of the button.  A few seconds.  Maybe a few minutes at most to create bracket orders.  So what do Professional Traders do the rest of the time?  They wait.  They wait until the market offers what they want or are looking for. Then after entering they wait some more to see if they are right.  They wait for the market to provide them with the information to either hold, or exit. They allow themselves to Be, the trade to Be, the market to Be and do what it is going to do.  They do not force actions or attempt to make the market do what they want.  They wait until the action comes about on its own, until it is natural, a reflex.   If you do not know what it is in the market that you are looking for, you will fold under pressure and confusion.  A Professional Trader knows exactly what he wants (not just to make money), he knows what he is looking for in the market, and is willingness to wait for it to arrive.  By doing so, he is rewarded and paid by the market for his patience and willing to do nothing.  Even if this means not trading for hours, days, or even weeks depending on the time frame.   It is far better to do nothing and avoid unnecessary losses, than to try and create tensions, forced actions, and lose money.  You have to ask yourself "What is more important?  The actual act of trading, or making money?" Lesson 5    Define your edge An edge is what you have defined as being what you want from the market in the previous lesson.  This can be anything from a specific setup, to just plain context like a strong market.  If you do not know what your edge is, you will struggle to perform consistently due to randomness. Many new traders, especially those who follow price action, believe they should be able to trade the market no matter what the context is.  If you think you are just going to walk in to the market, trade based on whatever the market is doing and make money; you are fooling yourself.  Doing so will lead you to trade randomly, entering willy nilly at the market, and make many mistakes which will cost you your profitability.   Do you walk into Walmart or Aldi's without knowing what you want to buy until you get there?  No, you have a list of items, or at least an idea of what you need before you go.  Do you start a business because you woke up this morning and thought it would be nice to own a car wash?  Hopefully not.  You first identify an opportunity, and then create a business model after a lot of research.  Then finally you open the business. Of course everyone thinks or says  "well so and so does this and that, and he seems to be making money."  Sure, maybe he is, maybe not.  If he is, he has defined his edge and is simply employing it.  What someone else does has absolutely nothing to do with what you should be doing.   Once you have defined your edge, you must wait for it to arrive.  If the market is not offering what you want or what your edge calls for, you do nothing until it is.  If your edge is a trend trading method and the market is in a trading range, you do not trade until the market is trending.   If you have not clearly defined your edge, you should not trade.  If you do not know what it is in the market you want and are looking for, you have no business in the market.  Simple as that.  If you chose to do so, you are putting yourself at unnecessary risk and trading randomly. Yes this sounds harsh, but it is the reality of the market.  The market will not give you anything, especially if you don't even know what it is that you want!
by tradersmentality
Lessons from an Experienced Trader Lessons from an experienced trader. Lesson 1. Never scalp. Although scalping seems to be the most profitable and best method in today's market, it is certainly not. Scalping is the hardest method to achieve a consistent performance. High frequency trading firms scalp, but they have many advantages over the retail trader including direct access to exchanges, highly developed algorithms with no emotions, and extremely low costs to name a few. When you are scalping you are competing against these firms or trying to manually do what they do with a computer. This above is only one problem. The bigger issue is the risk involved. When scalping, you must use a wide stop and be willing to scale in. One bad trade will erase 20 or more good trades. You must be extremely proficient at reading price charts, and be able to act without hesitation. This is virtually impossible for anyone who has not been trading for at least 3 years and has done extensive work on himself to develop the ability to flow with the market, constantly, without any internal conflict. And worst of all, scalping leads to bad habits. Once you get into the mindset of "get out quick" it is very hard to correct down the road. This makes swing trading more difficult later on after you realize it is a better method. Lesson 2. Swing Trade the best setups Swing trading is much more forgiving than scalping, offers a larger reward, and allows for a smaller risk (usually). This makes it much easier to make money long term. When swing trading you only have to win on around 40% of your trades to make a profit. If you can develop the patience to wait for strong setups, you can increase the winning percentage to anywhere from 50-70% and greatly increase your traders equation. A swing trading approach is also more forgiving when it comes to reading price charts. Some of those who discuss Price Action would lead you to believe you can predict what the markets are going to do next. This is simply not true, no matter how good you are at reading a chart. There is always a degree of randomness in the market, with any edge, any setup, or any context. When swing trading, you can afford to be wrong and make mistakes. So what setups should a swing trader take? Well, it depends if you want to always in trade or swing trade with signal bar stops. Either is fine, although an always in approach takes more practice and is harder to get right until you are good at reading charts. An always in trader has two choices. One to take every logical reversal (hardest to accomplish), and constantly reverse when necessary. Or two; wait for the always in direction to be clear and enter any in any fashion until the market flips. The second method is easier, although still tough, and slightly less profitable. An always in trader does not trade when prices are in a trading range. The reward is simply too low, and there are too many reversals to take and that fail, resulting in repeated losses and increased commission costs. What about a swing trader? A swing trader typically uses a signal bar stop, but can also use a swing stop to increase his probability. A swing trader does not have to take every trade he sees (unlike the first always in trader). In fact, it is best to wait for the best and clearest setups. What setups are these? High 2's, Low 2's (large) reversals and flags, Wedge reversals and flags, failed breakouts, and failed reversals. The first two are much easier to identify correctly for someone with less experience. The later two often trick newer traders, or fail once or twice before succeeding, making it a bit harder to get right. Lesson 3. Work on your self Like discussed before, most new traders and even those who have been around but haven't reached consistency believe that eventually you can read prices well enough to predict what will happen next. It does not matter how long you have traded, you will never predict the market. If it were possible to do so, the market would cease to exist! So instead of only focusing on reading charts and price action, you must work on your self. You must understand your strengths and weaknesses. You must be aware of your emotions and how they affect your performance. If you do not believe your emotions are directly related to your performance, you will not achieve consistency long term. We are all humans, a computer cannot do what I do. And you cannot remove emotions, no matter how hard you try to do so. So what is the alternative? Develop awareness of them, and use them to your advantage! It is as plain and simple as this. Trading requires you to understand your self, on a deep and internal level. You must be in tune with your self and the market. If you chose to ignore this fact, you may succeed temporarily, but it is only a matter of time before your performance diminishes. In order to make a lot of money, you must feel you deserve it. If you do not work on yourself, this simply will not happen. Does a professional athlete become a star by waiting around for his coach to tell him what to do? No. He dedicates himself in every possible way to his sport, including conditioning his mind to outperform his competition. Rather than waiting 2 or 3 years before realizing this, start working on your self from the very beginning. Not only will you become a better trader faster, you will become a better person; a better you.
AEducation
by tradersmentality
4
Lessons from an Experienced Trader Lessons from an experienced trader. Lesson 1. Never scalp. Although scalping seems to be the most profitable and best method in today's market, it is certainly not. Scalping is the hardest method to achieve a consistent performance. High frequency trading firms scalp, but they have many advantages over the retail trader including direct access to exchanges, highly developed algorithms with no emotions, and extremely low costs to name a few. When you are scalping you are competing against these firms or trying to manually do what they do with a computer. This above is only one problem. The bigger issue is the risk involved. When scalping, you must use a wide stop and be willing to scale in. One bad trade will erase 20 or more good trades. You must be extremely proficient at reading price charts, and be able to act without hesitation. This is virtually impossible for anyone who has not been trading for at least 3 years and has done extensive work on himself to develop the ability to flow with the market, constantly, without any internal conflict. And worst of all, scalping leads to bad habits. Once you get into the mindset of "get out quick" it is very hard to correct down the road. This makes swing trading more difficult later on after you realize it is a better method. Lesson 2. Swing Trade the best setups Swing trading is much more forgiving than scalping, offers a larger reward, and allows for a smaller risk (usually). This makes it much easier to make money long term. When swing trading you only have to win on around 40% of your trades to make a profit. If you can develop the patience to wait for strong setups, you can increase the winning percentage to anywhere from 50-70% and greatly increase your traders equation. A swing trading approach is also more forgiving when it comes to reading price charts. Some of those who discuss Price Action would lead you to believe you can predict what the markets are going to do next. This is simply not true, no matter how good you are at reading a chart. There is always a degree of randomness in the market, with any edge, any setup, or any context. When swing trading, you can afford to be wrong and make mistakes. So what setups should a swing trader take? Well, it depends if you want to always in trade or swing trade with signal bar stops. Either is fine, although an always in approach takes more practice and is harder to get right until you are good at reading charts. An always in trader has two choices. One to take every logical reversal (hardest to accomplish), and constantly reverse when necessary. Or two; wait for the always in direction to be clear and enter any in any fashion until the market flips. The second method is easier, although still tough, and slightly less profitable. An always in trader does not trade when prices are in a trading range. The reward is simply too low, and there are too many reversals to take and that fail, resulting in repeated losses and increased commission costs. What about a swing trader? A swing trader typically uses a signal bar stop, but can also use a swing stop to increase his probability. A swing trader does not have to take every trade he sees (unlike the first always in trader). In fact, it is best to wait for the best and clearest setups. What setups are these? High 2's, Low 2's (large) reversals and flags, Wedge reversals and flags, failed breakouts, and failed reversals. The first two are much easier to identify correctly for someone with less experience. The later two often trick newer traders, or fail once or twice before succeeding, making it a bit harder to get right. Lesson 3. Work on your self Like discussed before, most new traders and even those who have been around but haven't reached consistency believe that eventually you can read prices well enough to predict what will happen next. It does not matter how long you have traded, you will never predict the market. If it were possible to do so, the market would cease to exist! So instead of only focusing on reading charts and price action, you must work on your self. You must understand your strengths and weaknesses. You must be aware of your emotions and how they affect your performance. If you do not believe your emotions are directly related to your performance, you will not achieve consistency long term. We are all humans, a computer cannot do what I do. And you cannot remove emotions, no matter how hard you try to do so. So what is the alternative? Develop awareness of them, and use them to your advantage! It is as plain and simple as this. Trading requires you to understand your self, on a deep and internal level. You must be in tune with your self and the market. If you chose to ignore this fact, you may succeed temporarily, but it is only a matter of time before your performance diminishes. In order to make a lot of money, you must feel you deserve it. If you do not work on yourself, this simply will not happen. Does a professional athlete become a star by waiting around for his coach to tell him what to do? No. He dedicates himself in every possible way to his sport, including conditioning his mind to outperform his competition. Rather than waiting 2 or 3 years before realizing this, start working on your self from the very beginning. Not only will you become a better trader faster, you will become a better person; a better you.
by tradersmentality
Horizen (ZEN) | +47% PP | FREE TRADING SIGNALPair: ZEN/BTC Exchange: Huobi/Binance Trade Duration: Medium Risk: High Signal Strength: High Introduction Horizen (formerly ZenCash) is an incentive-driven application platform with optional zk-SNARK based privacy features that aims to provide everyone with complete control of their digital footprint. Launched in May 2017 (no ICO and no pre-mine), the leading-edge platform enables real-life use cases beyond the ZEN currency, including the ability to privately chat with others, publish information and go anywhere on the web with complete privacy. Our Entry Zone 0.001638 - 0.001792 Our Targets 1: 0.002020 2: 0.002401+ Our Stop Loss: 0.001595 To make sure you don't miss out on any FREE signals, FOLLOW us on TradingView by clicking on our profile and then clicking the green 'Follow' button. If you liked this analysis, hit that thumbs up! Comment your thoughts below. And most importantly, enjoy your day! Axsonex Team ------------------------------------------ DISCLAIMER: Axsonex are not registered financial advisors and no information we provide is intended as financial advice. It is our opinion and nothing more. This report is for informational use only. Trading and investing in Cryptocurrencies is extremely high risk. Ensure that you conduct your own due diligence before deciding to invest in any asset. We have not/will not be(en) paid to endorse this project. You are responsible for all actions you take as a result of reading/viewing this page.
by Axsonex
1