Patience and Discipline
IN order to succeeded in the trading industry a lot of technique must be mastered understanding how the markets works and how to reacts to different situations should be on every traders list.
Patience
This refers to accepting delay or waiting for something to be ready while you wait.
in trading the best trading opportunity comes...
Is it wise for retail traders to hold trade positions open overnight or over the weekend if the profit target has not been met by the end of the trading day? Even if you have a stop loss in place, unless you are a position/swing trader, intra-day traders and scalpers should not get into the habit of holding any positions open overnight during the trading week or...
TradingView has become a top platform in the quick-paced world of financial trading, offering traders and investors all over the world a robust community and a set of sophisticated tools. TradingView has made great leaps from its modest origins to its current position as a major player in the sector, hitting impressive milestones and overcoming obstacles along the...
Hello, and I thank everyone for looking into my article. Here, I want to dig deeper into trading psychology and provide important tips for beginners but also for advanced traders that can serve as a good remider. So, without further ado, let's dive into the topic.
1.Set realistic goals
I remember entering the crypto scene in 2016. I was excited about the...
Altseason is the moment when the big players have taken profits from bitcoin and now the capital is flowing from bitcoin to altcoins! You must understand that not all altcoins will be profitable in the same way!
No need to focus on specific dates and try to predict the future. Your task is to adapt to the market order flow.
The first wave of momentum is...
Over the past five years of trading, I have recognized the importance of continuously critiquing myself and my trading strategy. I diligently monitor my performance on a daily, weekly, monthly, quarterly, and yearly basis. Here's a concise list of the rules I have followed prior to entering and exiting a trade:
✅ Entry Rules
Ensuring that the stop loss is...
After teaching a bunch of amateur traders over the years, I've come to realise in my not so humble, but highly righteous opinion that their biggest obstacle always seems to come down to their inability to abstain from placing a trade.
They give into temptation.
But as Jesus says;
"Forgive them for they know not what they do."
Yes I know Jesus wasn't a trader,...
Before we begin, we need to understand what liquidity is.
A market with high liquidity is one where there is a large number of buyers and sellers willing to trade in that particular asset. This means that there is a high availability of buy and sell orders, allowing transactions to be executed quickly and with minimal impact on prices.
Where are the most liquid...
The fakey setup is a powerful trading strategy that can be used to identify high-probability entries in the forex market. It combines three different chart patterns and requires the trader to be patient and wait for the right setup to form. With a bit of practice, traders can become very proficient at spotting fakey setups and taking advantage of them.
Fakey...
Since it's summer and the BBQS are out, it got me reminiscing about old times.
I used to tell people I was a trader, before I was even profitable.
Do I recommend this?
Nah not really no.
(1) It puts tremendous pressure on yourself to do what you say.
That pressure makes you rush, push and bully your risk into a brawl of epic proportions.
(2) Most people...
Definition;
"A rude and unscrupulous person".
Many-o-moons ago I used to believe trading was a team sport (I know, how naive of me) but that's because I joined some supply and demand community where we all traded the same strategy.
These days I'm more of a Snollygoster.
I can't help it.
When I see other traders, I see them as competition - even those I...
Despair and Hope, two sides of the same coin and the two emotions that rule your decision making.
In my 10+ years of trading experience, I'm not sure it's even possible to not feel or be aware of them in some way - what I'm saying is, I don't know if you can get rid of them entirely from your trading.
It may just be a constant (and natural) part of being a...
In the world of trading, strategy, and market knowledge are typically seen as the twin pillars of success. However, this is only part of the picture. The psychological aspect of trading is often overlooked but can be equally, if not more, influential in shaping trading outcomes. This component involves understanding and managing the emotions, biases, and mental...
Hello dear @TradingView community! Today let’s focus on what is Dollar Cost Averaging ?
Determining the optimal moment to buy cryptocurrency is often a challenging task due to the high volatility of crypto assets. Prices can fluctuate unpredictably at any given time, leading traders to experience the fear of missing out (FOMO).
This fear is commonly felt...
With each trade you take…
There are these 5 standard questions you’ll need to ask an answer.
Jot these down and have them ready…
Do I Have a Trade Lined Up?
When you go through your watchlist.
You need to see any opportunities in the market that align with your trading strategy.
These should stick out like a sore thumb.
If it’s not, then it’s probably not...
Man I used to have the worse timing, I cringe just thinking about all the times I entered a trade only to realise moments later I timed it wrong - this goes for long and short term investments - timing a trade wrong makes you feel more useless than a bottle of sand in a desert.
But there are ways round it.
Not easy, but possible.
And it doesn't take a genius to...
Swashbuckling Definition;
"Engaging in daring and romantic adventures with bravado or flamboyance."
This is trading in most Bambi traders minds.
Some of you literally see yourself as some knight in bright shining armour strolling through the village blowing kisses to the local women before you galavant into the mountains to slay a dragon.
It's...
One hugely successful trick I've used over the years and yonks I've traded that very few (if any) traders use is certain self talk while analysing the charts.
Most traders don't think, they react - and not with a coherent plan, but with an emotional rollercoaster of word spaghetti they dare not verbalise.
Problem with this is you're at the mercy of your own...
