jojofang0901

How to scan the market daily and reduce emotional trading

Education
OANDA:NZDJPY   New Zealand Dollar / Japanese Yen
Hello everyone:

Many have asked me how I do my daily scanning of the market, so I thought making a quick video to explain all that would be ideal.

I will always do a weekly outlook at beginning of the week. This will take me a bit longer to do, but will go through all pairs, instruments to see how the price is doing from last week.

Using tradingview's features, I can then categories them in different watch list so I know which ones are in high priority to look out for, and which ones are still in need of more development.

Then, everyday I will try to scan through the market in all 3 major sessions if possible. Try to attend at least 1 of the 3 major sessions, either Asia, London, or New York session would be ideal.

Then, simply go through the ones that are highlighted (flagged) and see if price has develop into something you were forecasting to do.

Again, use tradingview's feature on drawing tools, Risk/Reward, object trees and more. You can simply hide them or bring them out on your charts at any time.

Set your alerts, and dont need to continue checking your chart/broker every minute. This is how to prevent you to be an emotional trader. When your alerts are hit, then check your app/computer to see the charts.

From your daily scanning, you need to have an open mindset. Even though you are looking at selling in this pair, but need to also understand that there is a probability that the price can move up. Therefore, what is your decision if price did not break down? Always have a open mind, so that you know when the price went to the opposite direction, you will know how to manage it.


I then spent a little bit of time to discuss every traders are different, and its important to know what kind of trader you are in order to succeed in this industry.

There is no right or wrong way to trade, its what work for your as a trader. What works for your mindset, perceptions and personality.

Its important to let your "ego" go, no need to compare strategies or style with others. Dont need have the attitude of your trading style is the best, and others dont work...etc.

ITs about understanding everyone will see the market differently, and sticking to a strategy continuously.

Otherwise, if you jump back and forth, or indecisive on what is your criteria to enter, then trading becomes gambling. Since there is no pre-determine analysis or outlook, its just a simple guessing game.

Put in the time and effort, and work hard towards your goal. Dont let the "social media" effect you as a trader.

As always, have a positive, humble attitude, and willingness to learn and accept new things will ultimately give you the best result.

Thank you

Price action analysis, live market update, Group Q/A, educational videos/lessons.
Telegram: https://t.me/aeristrading
YouTube: https://www.youtube.com/user/jojofang0901
Myfxbook: http://www.myfxbook.com/members/Aerisfang/aeris-trading/7763187

Comments

You are really good at what you do and I love the relaxed approach to the markets. We would all love a trading video where you open a position based on your analysis. Please take us from start to opening and setting stops and tp's. Cheers!
+2 Reply
@loopshe, Check out some of my other educational videos on them. I will post the links below. Thank you for the kind feedback. :)





Reply
Nice work dude 🦐
+1 Reply
jojofang0901 plancton0618
@plancton0618 thank you 🙏
Reply
Thank you for your time for making those videos! :)
Are you full-time trader or just a hobby?
+1 Reply
@Petr_89 thank you :) yes trading as a career
Reply
Thanks . Glad to know we are living the same town. Give me your email jojo fang if possible .
Reply
@Shaban01, You can message me on telegram :) check my link for in profile for more info.
Reply
Hi interesting video thank you.

I'm a newbie I struggle to see technical patterns at the moment - if I see a before and after chart it looks really obvious - I can see the Head and Shoulders, couldn't before.

Any tips, Trading tools I can use?

kind regards

David
Reply
Thanks I really appreciate your sacrifice
Reply
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