Many aspiring traders give up within six months of starting because they enter the market with unrealistic expectations, fueled by movies like "The Wolf of Wall Street," thinking they'll get rich quick. However, success in trading requires persistence and consistency. It's important to understand that overnight success is rare. Stick to your trading plan and...
Leverage is an essential tool in trading gold and forex. It enables traders to control larger positions with minimum initial capital. However, it also carries a high degree of risk as one can experience significant losses if the market moves against them. Here are some things to consider about leverage in trading gold and forex:
• Leverage is the ratio of the...
As a professional trader, I've observed that 99% of traders experience losses not because of their skills or knowledge, but due to their bad trading habits. Today, we'll address some of these habits and propose effective fixes to overcome them.
1) FOMO (Fear of Missing Out):
Problem: The fear of missing out on potential gains prompts traders to enter trades...
In Forex trading, understanding price movements is essential for success.
This article presenteds a conceptual ideology that metaphorically interprets price movements in Forex.
We explored range trading as breakfast and conversation, where traders analyze overbought and oversold levels on a RSI 4 for potential breakouts.
Trends were attributed to...
I've made this serious mistake when I started out trading.
I skipped from strategy to strategy, methodology to methodology.
I've tried almost everything. Signals, account management, mentorships, PAMM, expert advisors, bots and paid indicators.
Everything seems to be profitable, until I put my hands onto it. Many times, I found some profitability. After...
There are hundreds of different trading strategies based on fundamental and technical analysis.
These strategies combine different tools and trading techniques.
And even though, they are so different, they all have a very similar structure.
In this educational article, we will discuss 4 important elements every trading strategy should have.
1️⃣ The first...
1) Does not Journal
They do NOT journal and proceed to continuously do the SAME thing day in day out expecting different results each time
2) FOMO
Proceeds to see someones open position on social media
Form a bias from that and open a trade based upon the individuals setup without any research
3) NO reasoning
Proceeds to stutter and talk nonsense if...
1. Reduce position size
The biggest stressor for traders is losing money.
If you're worried about how much you could potentially lose then using smaller position sizes can help you stay level headed
Even the best traders don't have a 100% hit rate. Losses will happen
2. Find high quality set ups
If nothing jumps out at you the first 10 seconds you look...
Price Channel + RSI trading
Price channel trading involves identifying a range of prices in which is trading and buying when the price hits the lower end of the range and selling when it hits the upper end of the strategy to trade within the range and that the price will eventually revert the mean.
RSI trading involves using the Relative Index (RSI) identify...
Find out why you should have a trade plan—and the five elements that may help you put it to work successfully.
Element 1: Your time horizon
How long do you plan to hold a position? This will depend on your trading strategy. Generally, traders fit into one of three categories:
Single-session traders are very active and look to gain from small price variations...
I breakdown some common trading misconceptions and how I conquered them
1) There is no "best strategy"
Strategy is one relatively small part of trading success, most strategies can be profitable other variables such as discipline and emotional control will determine whether you see success.
2) Get comfortable losing
If you are comfortable losing (within the...
Welcome to our third ever blog in our economics masterclass. Today we will be going over and Understanding Scarcity, Choice, and Resource Allocation.
[Section 1.4: Scarcity, Choice, and Allocation of Resources
The basic economic problem stems from scarcity, where wants are unlimited, but resources are finite, necessitating choices. Optimal utilization and...
Imagine yourself having the perfect trading plan. It suits your psychological needs and lifestyle. Yet, you're not confident in your strategy. Do you follow your trading plan? Or do you close winners early and take a full 1R loss on losers? This is what happened to me.
Why Trading?
I took up trading because it sounds like a very lucrative side hustle. Learning...
I vividly remember how I started to trade 8 years ago, how I was learning, and the things that I was doing.
Contemplating my old self, I notice a dramatic shift in my mindset in regard to trading.
Staring at the charts and desiring to make money on price action, I wanted to become a consistently profitable trader. Making the priorities, I decided to sacrifice...
Candlestick patterns play a key role in quantitative trading strategies owing to the simple pattern formation and ease of reading the same.
For using candlestick patterns, you only need to have a basic understanding of how the candlesticks are formed. Also having some idea about the various ways in which these candlesticks can be interpreted would be...
The evidence suggests that only a very small proportion of day traders makes money year over year.
There are certain patterns which may separate profitable traders from those who ultimately lose money. And indeed, there is one particular mistake that in our experience gets repeated time and time again. What is the single most important mistake that led to...
Being a beginner, it is natural for you to feel overwhelmed when you first start forex trading. But that doesn’t mean that you should shy away from the market. By following the 5 steps listed below, you can start your trading journey in currencies in a smooth and efficient manner.
1. Get to know what drives the market 📈
When it comes to trading in currencies,...
If you've ever wondered how the U.S. monetary system functions and who runs the show, keep reading. In this article, we will break down the structure of the Federal Reserve System and help you understand how it operates.
🏦 The Federal Reserve System, often referred to as the Fed, is the central banking system of the United States. It was created in 1913 by the...
