For many traders, the dream of full-time trading represents the ultimate freedom. Full-time traders have the ability to choose their own hours, trade from anywhere, and select which opportunities to pursue. However, not all traders are ready to make the leap to full-time trading. Just as too much freedom can harm some economies, not everyone is prepared for the...
1. Introduction:
Cryptocurrency is a relatively new concept that has gained a lot of attention in recent years. But what exactly is it, and how did it become so popular?
Definition of cryptocurrency: At its most basic, cryptocurrency is a digital or virtual currency that uses cryptography for security. Cryptocurrency is decentralized, meaning it is not...
List of deadly crimes committed by new traders
So far, you have created a new account, purchased your first Bitcoin. You are now prepared to become a trader in cryptocurrencies. You frequently trade on an exchange where the price of the first coin you purchase increases by 10% before you sell it. Self-satisfied that you did it. Using the ingenious "Buy Low,...
In the last 20 years, I always love asking this one question.
“Why do you want to trade?”
Have you ever written down the reasons why you want to become a trader and what your true motivations are?
When you answer this question, only then you’ll become more clear with the goals you wish to achieve and how to achieve them.
Here’s one clichéd answer, I don’t want...
I wish you all the health and happiness, this year has to offer.
To kick you off this year on a strong note, I’ve prepared a quick 20 item checklist which you can use for your trading.
Save this as a guide for 2023.
Let’s go…
1. Save and deposit a portion of your money every month, into your trading account to grow it faster.
2. Cut down on social media...
Here are 53 trading acronyms and abbreviations to remember and apply to your trading.
I’ve also listed them in alphabetical order to make it easier to spot!
ATH - All Time High
ATM – At the Money
ATR – Average True Range
BB – Bollinger Bands
B/O - Breakout
Be - Bearish
BE - Break even
BOS - Break of Structure
Bu - Bullish
CFD – Contract for Difference
DD –...
Losing a part of yourself with a loss is a common experience for many traders.
When you're in a trade it's easy to get caught up with emotions.
When it's going your way, you almost feel like you've banked a winner.
When it's going against you it feels like you're a failure and have lost already.
You got to work on it and stop both feelings from taking over...
A game-plan is a must, to see a potential goal, dream or vision.
You got to have a proper POA (Plan Of Action) and execute.
Whether it’s selling property, building a business, playing a sport or growing your wealth.
You need a BEFORE plan and AFTER plan.
Same with trading. You need to have a trading plan BEFORE and AFTER each trading day.
BEFORE Each...
A new trader, let's call her Sarah, has just started trading in the crypto market. She has been reading articles and watching videos about trading, but hasn't taken the time to develop a solid trading plan, or to gain a good understanding of the markets and underlying assets she is trading.
Sarah sees bitcoin's value is going up, she doesn't do any further...
I call it the
3 Cs of trading
Trading the financial markets can be a challenging and rewarding endeavor.
One of the keys to success in trading is making informed...
Choices - Choose the markets you want to trade, the strategy, the time frame, choose your mentor and choose your times and plans...
Next you need to take calculated:
Chances - Take a chance to...
You and I both know that financial trading the markets is an exciting and most definitely a lucrative venture for those who actually take the time and energy to get it right and trade well.
But!
Big But...
If you want to become a successful trader, it's not just about analyzing market trends and making informed decisions – it is also about self-introspection...
If you don’t know the 6 Thinking Hats by now, I have to ask.
How do you solve problems, deal with arguments or make decisions?
I do forgive you though, as these strategies are not ones we learn in school.
In fact, when I first read about this strategy, I got to say every aspect of my life changed (including trading).
I hope this article will change your life...
LEAVE ME ALONE!
Once you have entered a trade and set your trade levels (such as stop-loss and take-profit), LEAVE IT ALONE.
It is important to let the market play out and not interfere with the trade.
This way you'll follow your trading plan and not be swayed by emotions or external factors.
Also, if you leave it alone it will also stop you from taking...
First you need to clearly define your goal, for this we use this simple tips
Technique that helps you better define and achieve goals. Goals formulated using this technique are usually more realistic and achievable.
S - Specific (specific)
The goal should be well defined and specific.
M - Measurable
It should be possible to determine if the goal has been...
The Trader's Cycle
The trader's cycle is the time span between the first replenishment of the deposit and its total loss. The cycle is divided into four parts, each of which corresponds to a different condition of the trader.
Every trader is in one of the stages of the trader's cycle; it is impossible to avoid the cycle by trading continuously. However, by...
Get a pen and paper and write these five habits down.
Each habit you have, write down a 1 and each habit you don’t have write a 0.
Sum up the points at the end and you’ll know where you are, what you have to do to improve and whether you have the trading edge to be successful.
HABIT #1:
Courage
You need the courage to follow these basic steps.
#1: Open a...
What is FOMO?
FOMO - Fear of missing out or Lost Profit Syndrome - an obsessive fear of missing out on an investment opportunity.
This syndrome can overtake in any everyday situation and make you remember missed chances to get rich all day: ignore the growing popularity of cryptocurrencies, not invest in bitcoin and many other short-sighted actions.
To determine...
In this educational article, we will discuss why is it recommendable not to trade during the holidays season.
🏦 The main source of problems comes from the fact that the big market players like banks, hedge funds and investing firms are absent. Similarly to ordinary people, bankers and investors prefer to spend the holidays with their relatives and friends...
