A drawdown is a period of decline in the value of a portfolio. This is where you take a number of trades, and the losses drop the portfolio at a marginal level (if you know what you’re doing). During these times, the market is typically more volatile (jumpy) and unpredictable. And so you have a higher chance to risk money in unfavourable times. Risk less with...
As a trader, you must approach the market with humility and an understanding that you are at its mercy. And so you need to remember that the market, doesn't know you, doesn't care about you, and doesn't work to reward you. Let’s break that down. The Market Doesn't Know You The financial market (Mr. Market) is a complex and dynamic system that is influenced...
Here's why you need to be a humble trader. REASON #1: Humility is required for losing I’ve mentioned this for the last 20 years. And nothing has changed. We are NOT in the trading game to be right. We are in this process, to follow a proven and winning strategy in order to grow our trading accounts over time. Not in a week, not in a month and not...
Hello everyone!👋 Risk management is a vital aspect for every trader. The mastery of this art is aimed to reduce the losses which are most definitely inevitable. Below are 4 tips to become better at risk management. 1. Set realistic goals📝 This should be the first step after funding your account. At this time, you have a clear vision of where you want the...
In this episode we cover some key differences about strategies and indicators including how alerting is different. We also review my latest library that can simulate a position in an indicator.
The two tapes of forex trading are a recording of your past performance and a recording of your current live performance. Many traders focus on the first tape, which is full of emotions and can be misleading. The second tape is a more accurate representation of your trading skills and should be given more attention. Letting the first tape influence your decisions...
Hey everyone! 👋 Bull markets are a time of optimism and growth, and they can be a great opportunity for making substantial gains. However, it's important to remember that bull markets don't last forever, and it's crucial to approach them with a healthy dose of caution while keeping your eye on your long-term goals. 🙂 Here are a few things to keep in mind when...
The anticipated release of $BLUR could force traders to reevaluate the NFT marketplace sector and create a wave of growth. In this article, we will gather the main assets from the NFT marketplace sector and compare their metrics and products. The major players in the sector, the two biggest players OpenSea and Blur have no token LooksRare ($LOOKS) Price:...
Holding trades is what I want to get better at and backtesting is going to help me do it. I've backtested NZDCHF today and found that it was a remarkable session. I was able to enter 4 trades in the span of 3 months gaining over what would have been 15% from the trades, but one trade hit my break even point so I gained around 12% from my trades. I used the...
What if I told you, it can take one sentence to blow it as a trader. Say it once and you’ll set a ripple effect. Before you know it, you’ve given up and leave the trading journey with pure frustration… Wanna know what this one sentence is? “I’ll take the next trade”. Yep that’s it! When you have a winning trading strategy, with strict entry, risk and...
Welcome to another Trading Myth Buster’s episode. This is where I take the old adages and see if we can bust them or not. Today’s adage goes to… “You need 10,000 hours to master something”. Let’s first break this up into how many days this will take. If you practise an art of something for 30 minutes a day… 10,000 hours equates to 300,000 minutes. We then...
So, I love backtesting. Recently I've found my self in a 3% drawdown and needed to figure out what the cause of it was and trading at this moment won't give me that answer. So, I decided to backtest. Here is what I found: 1. I'm overtrading my system I am a proud swing trader who got back into scalping the market in December 2022. It was mot my idea, but I...
Interest rates and USD strength are positively correlated. An increase in US interest rates will typically result in a strengthening of the USD. The reason is... Foreign investors tend to flock to US assets, such as bonds and fixed bank rates for higher returns. Higher demand for US assets drives up their price, and as a result, the USD strengthens. As for...
Hello Traders! As you know, trading is a game of probabilities and navigating the financial markets is not always easy. Different strategies that we use, such as Elliott wave analysis and pattern trading, can provide different scenarios for market movements. However, market conditions are often uncertain and can extend beyond what is predicted by these...
Hey God bless you everyone! i pray this video helped you in many ways. the goal is to grow in our journey to become a successful consistent growing profitable trader. it takes time to become successful so lets take our time to focus on ours elf to grow and not always on money!!
When it comes to the forex market, there are a number of different players that play a role in its overall functioning. From central banks and commercial banks to individual investors and brokers, each one plays a part in keeping the market ticking. In this article, we take a closer look at each of these groups and their role in the forex market. Central banks...
Follow my research. Learn why I expect 2023 to be a very difficult year for active traders and how you can avoid all the risks by modifying your capital allocation levels RIGHT NOW. You don't have to stand in front of a freight train or try to force trades when they are not opportunistic. You could just wait for the better setup in July/Aug 2023 and ride out...
Is chat gpt and Artificial Intelligence the next boom theme? Why are so many people talking about it recently? How long can this new trend create opportunity for , years, decades? How do we value the opportunity and avoid paying too much? Dont get ripped off and caught up in the hype, use math and valuation to price the reward and risk in a balanced logical...