In this article, I want to talk about the interesting similarities between trading and detective work. Like detectives solve mysteries to find the truth, traders explore the market to understand patterns and make smart decisions.
1️⃣ Gathering Clues:
Both trading and detective work rely on the acquisition of timely and relevant information.
Traders stay...
The Power of Patience: Long-Term Investing
Introduction
In the fast-paced world of investing, where market volatility and hype can easily sway decisions, there's one timeless lesson that stands the test of time: the power of patience in long-term investing. In this blog post, we will explore the significance of adopting a long-term investment approach and the...
Once you have selected a stock with decent fundamentals (review every month if the stock still fundamentally sound), then you just need the chart to tell you when to buy it.
Trading is all about waiting/patience.
When price is below the 20/50/200, you stay in cash. You wait.
When price is above 20/50/200, you wait for a base/pullback and a trigger.
In this...
You don't need a super complicated trading strategy to make money. You need a sound risk/money management, realistic expectations and abuncance of patience.
When price is below 20/50/200, you just simply stay in cash. When price is above 20/50/200.. wait until it has form a base and/or made a decent pullback. Wait.
Important factors that if well approached, will ensure your long term success.
Forex trading is a popular form of investing that involves buying and selling currencies in the foreign exchange market. As with any form of trading, success in forex trading requires a deep understanding of the market and the key factors that impact profitability. In this blog...
Among the dozens of qualities and attributes, experts say traders need, patience is one of the most important qualities a trader can possess. It is a virtue often overlooked in the fast-paced world of trading, where new traders are lured into the trap of the get-rich-quick ideology. The ability to wait for the right trades can be the difference between success and...
On Day 1, a trader is just a passenger in a car that is controlled by others...
This journey is so common that when people realize others are doing the same thing, they don’t feel so alone. I have talked with thousands of traders through the years and the vast majority of them experience this journey just as I have.
Most start out so pissed off with life that...
Hello traders,
Patience in trading is ability to wait to take the right action, if you have not enough patience you will have bad trades bad decisions and cause you to take action too soon.
3 things you should avoid if you want to become a better trader and improve your patience in trading.
1) Don't Rush :
Market is there not going anywhere so don't need to...
It may seem as if developing a career in forex day trading is about finding a strategy, practicing it regularly, and making bundles of money. Yes, it is about that. But, where are our characteristics on that list? To become a successful day trader, you need to develop specific features to implement an effective strategy that delivers results in all market...
“TO TRADE, OR NOT TO TRADE A SINGLE CURRENCY PAIR. THAT IS THE QUESTION…”
🧿MULTIPLE CURRENCY PAIRS
Easier to recover from losses on a given currency pair
Less likely to experience not seeing any setups for a whole day/week
Better understanding of pair correlations required
Can be more distracting
🧿SINGLE CURRENCY PAIR
No risk of trading correlated...
Hey traders,
Here is the list of topics that you must study in trading to trade like a pro.
▪️Price Action
▪️Trading Psychology
▪️Trend Lines
▪️Fibonacci
▪️Breakout Trading
▪️Fundamentals
▪️Key Levels
▪️Supply & Demand Zones
▪️Risk Management
▪️Candle Patterns
▪️Chart Patterns
▪️Supply & Demand
▪️Fundamentals
▪️Risk to Reward Analysis
▪️Technical...
🌟Mistakes in trading are inevitable, but it can also be a valuable growth experience. Everyone is likely to make a mistake at some point, whether it's forgetting to set a stop loss or missing some important news, but you can turn a mistake into a positive situation by using it as an opportunity to learn and become better at your style of trading by not making...
⚙️STOP ORDER
This one is better to be explained with the examples:
These orders can be used for trading breakouts. If you thought the EUR/USD would rally further after a move above the 1.1500 level, you would place a buy stop for entry at 1.1501. As the market printed 1.1501, your buy stop would become a market order and be filled at the next best price...
“TO TRADE, OR NOT TO TRADE A SINGLE CURRENCY PAIR. THAT IS THE QUESTION…”
🧿MULTIPLE CURRENCY PAIRS
Easier to recover from losses on a given currency pair
Less likely to experience not seeing any setups for a whole day/week
Better understanding of pair correlations required
Can be more distracting
🧿SINGLE CURRENCY PAIR
No risk of trading correlated...
I’m from South Africa.
I’ve observed the movements and ways of life of wildlife at different game reserves, resorts and zoos. Penwarm, Kruger National Park, Londolozi and Sabi Sand Game Reserve to name a few.
And I’ve seen how leopards work when they catch their prey.
This methodology is very similar to how we as trader should act in the financial markets....
Trading needs a lot of patience. To the point that trading becomes boring really. One must master this trait to become consistently profitable trader. Patience, discipline, risk management, and trading psychology. Master this all, then you will master your trades.
G'day, Traders! Despite wars and rumors of wars there are always opportunities to be had in the financial markets, particularly the Energies markets.
The purpose of today's trade example is to demonstrate that once a level of Supply and Demand are created in the financial markets, the rule of thumb is that a level is "good" until they are not... that is, until ...
Happy New Year to everybody.
Here is my roadmap for financial year 2022. It is simplified version but generally it says everything about what to do.
Plan:
Everything starts from the plan. It is very hard to navigate financial markets without it. As markets move constantly it's very easy to get lost
or become controlled by emotions (fear and greed for...
