The markets are strange, Last night I sat in bed thinking about it all and wondering if there was a way to really crack the markets.
They say like 90% of traders lose money. So in theory when everyone sees a huge selling signal you should in theory buy because what everyone else sees is what makes up the 90% of traders (Which lose money)
But then "Trend is friend" Is the holy bible guide to making money in the markets.
But if this wasn't confusing enough. You've got the big boys who can shift the market within the click of the button. so in theory no one is safe
Is there really a way to make money consistently in the markets? Of course there is. people do it for a living.
What makes the successful traders successful?
I think there is a strategy that can win 90% to 100% of trades , when it comes down to it, its only math and history.
My conclusion: Dont place stop losses where everyone else does. go that bit further. Avoid getting spiked out. (How many times have you predicted the right movement to then only get stoped out by a few pips for it to continue in the direction you said it would)
No indicator is the holy grail. In fact some of them just make it harder.
Remove all drawings and indicators. just place a few support resistance lines and go from there
Use the larger time frames for the general trend 1day 4 hr etc Confirm the trend. Use lower time frame 1hr 15 min 5 min 1 min for entry to make sure your getting those sniper entries
And last make sure you have fun. If your having a shit day. leave . the markets are there today tomorrow , and forever.
Also don't listen to what others say. trading view is good but the chat is full of morons , me included. If you have taken the time to find a trade don't close because someone says its going to do the opposite. Stick to it and figure out for yourself if your correct if not then learn why
The moment you start trying to "crack" the market instead of trying to crack your psychology you've already lost. 👍
Sajan_kumar
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excellent
MattyDaveJobe
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Thank You!
Sugma
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@MattyDaveJobe, Especially with crypto. Most people I have found on the chat they want prices to fall so they can personally buy in for themselves. For example with XRP loads of haters blah blah, but even XRP holders will want the price to drop so they can buy even more. So they are only looking for signs of a drop so they can reload, this means they will fill your head with bear ideas but its just because it's in the greater interest for them
Smartrade-fx
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So are you saying waiting for a dip before buying is a bad idea??
lkennedy2019
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mindset before the gains come. well said stewysongs.