BTCUSDT short positionwe have potential of correction
control your risk
onchain data also is high for active addresses
Fomo
Bitcoin at the Edgewe have a good trend, it promises to be FOMO. But we have to be careful because the bigger players are holding hands on a double top or on a short shock that could come out of nowhere
BIG XTZ (Tezos) PUMP and BREAKOUT but be careful...Firstly, a huge congratulation to everyone who bought XTZ for $6. If you haven't bought yet, then I'd say wait for a correction to the next support level of $7-$8. I'd say this move is mainly driven by emotion and FOMO (no disrespect to Tezos, it's a great project) as it's still over-extended. I wrote all the analysis on the chart already so I won't be doing it here like I normally do.
Have a nice day and trade money you can only afford to lose!
Bitcoin (BTC/USD) - Trend, Support, Resistance - Daily - 9/07/21Bitcoin's daily uptrend is at risk. BTC price has fallen down below trendline support, and is currently holding above the $46,000 to $43,000 support range.
Bullish scenario:
-BTC price finds and holds support above $43,000. Then bounces up to set a lower-high in the daily price trend.
-Resistances above: $47379, $50000, $53034, $55000, $60000.
Bearish scenario:
-BTC price falls below support and is rejected down under $43,000. Price would continue to seek a lower-low in the daily price trend.
-Supports below: $41220, $38493, $34555, $32344, $30000.
Note: On a long-term Weekly chart, if price holds above $30000 to $35000, a weekly higher-low in the price could be set.
BTC TRUTH ! The Securities and Exchange Commission has extended the deadlines for four Bitcoin ETFs.
The Commission cited the need for additional time to “take action on the proposed rule change.”
Cryptocurrency proponents remain hopeful for the approval of a US Bitcoin ETF in the near future.
Exercising its statutory powers, the SEC has extended the time frame for revealing its decision on four Bitcoin ETF proposals. The extension will give the Commission sufficient time to go over the finer details of their applications amid mounting optimism.
SEC Flexes Its Statutory Powers
The SEC has extended the time for reviewing applications of Bitcoin ETFs by 45 days. The affected proposed Bitcoin ETFs are Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, Krypton Bitcoin ETF, and WisdomTree Bitcoin Trust with the last ETF to be approved on December 24th.
This move is in line with the statutory powers bestowed on the SEC. According to section 19(b)(2) of the Securities and Exchange Act (1934), provides that “within 45 days of the publication of the notice of the filing of a proposed rule change, or within such longer period up to 90 days (i) as the Commission may designate if its finds such longer period to be appropriate and publishes its reasons for so finding…”.
The reason put forward by the SEC for the extension of time is to obtain “a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and any comments. In the end, the Commission shall “either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.
Bitcoin ETF On The Horizon
In recent months, the SEC has received a spike in Bitcoin ETF applications as the community believes the time is ripe. In September, Invesco teamed up with Galaxy Digital to submit a proposal with the number of applications soaring to unprecedented levels.
Bloomberg’s Senior Commodity Strategist, Mike McGlone famously predicted that the community could see the launch of a Bitcoin ETF before the end of October. Gary Gensler, the Head of the SEC, is of the opinion that the type of Bitcoin ETF that could most likely obtain approval is the Bitcoin Futures ETF.
The SEC currently has over 12 applications it has to review but remains concerned about the potential for market manipulations that they possess. An approval will open the floodgates for applications and could send BTC prices on a price rally.
SXP USDT pullback happend!!Yesterday i saw this coin getting pumped, unfortunately i was to late and i didnt wanna risk to get in high so i waited for a pullback. If the pullback didnt happen i won't enter and forget about it but today the pullback happend!!
Before i enter i wanna make sure that bitcoin wont fall down so im waiting for bitcoin to make a little leg down and a confirmation back up, After that i will enter SXP if not i will enter with a small risk because i dont wanna miss it (FOMO)
have great day and stay safe its not clear what bitcoin wants to do fall or rise? what do you think let me know ;>
dont take it as financial advice
Inverse Parabolic Growth - Never Short a 'dull' Market!Negative Parabolic Growth.
Yes, parabolic growth can be negative. growth rate is negative and the Rate of Decline is increasing!
This phenomenon was identified previously in context to the negative costs of carry associated with inverse ETFs and in particularly inverse VIX ETFs.
The old trading saying goes like: " never short a null market!", and the case of the current set-up, the risk factor is that the market spikes against the short position and takes it out. A bit like those hedge fund 'gurus' who shorted AMC and GME when both stocks were already bottom feeding!
So stand back - if you are into shorting - then there are far better candidates around: SPY + Patience + Policy Disruption = Success :)
Parabolic Growth - Never Chase Price!Parabolic Growth - A Quick Note
Positives parabolic growth rates occur when both Growth is positive , and the Rate of Change is also increasing - the 2nd derivative is increasing in calculus terms. Obviously, the rate of geometric growth can only increase so far, otherwise price change would increase infinitely!
Parabolic growth on daily charts and lower time frames eventually gives rise to periods of retracement and/or sideways consolidation. We have seen this in cryptos (BTC 's first major bull run) , many other futures contracts and even stocks. This phenomenon can be identified even in charts going back to the 50s and 60s.
Lesson here?
- Never chase price!
- Wait for a pullback and/or consolidation phase. You don't want to be the noob that buys at the top!
- Understanding the phenomenon mitigates the risk of lack of self control and feelings of FOMO.
NATURAL GAS FRENZY - Is this "natural" or only a "fart"?Just want to share with you my idea. If you read my past post I'm in "safe area" because market is really extend.
For a quick reference I've crossed 3 graphs : Sp500 | Oil | Natural Gas
Let's compare 2018 with today.
I strongly believe that 2018 is only a "small version" of the 2020-2021 Economical LunaParKovid Frenzy.
I was really surprise to discover that Natural Gas was Pumped at very start of market dump in 2018 . Those pump (both today and 2018) are strictly related to beliefs on debate going on how natural gas is a “bridge fuel ” that can help pave the way for the U.S. to reduce carbon emissions and renewable.
Main problem is the Dump after the "FOMO storm"! Storm in both sense : literal because IDA and Nicholas Hurricane push prices up. FOMO Storm because Fear of Missing Out take aboard all type of small retails looking for easy cash (and empty pockets at least).
However, the only thing I see now is only a FOMO . Stay alert this can finish worst than you can image.
Doesn't matter if Cramer say....if Hurricane doing... if China making...
We are in an high volatility market. Be careful, don't chase your dream, don't chase FOMO. Just use your brain.
This is not a financial advice. Only ideas.
If you are happy with this post, please consider to donate something on my Paypal.
BEL / BTC (Binance) SWING trade 600% potential
☝🏻 BEL is a token that has always made us happy and has met TP levels on several setups. In addition to our open middle-term trade, I really like this long-term opportunity that the chart offers. It is more than 1200% apart from its highest real high on a BTC pair, and the overall concept indicates the possibility of attacking at least half of this potential.
👌🏻 I like the nicely leveled structure after the huge collapse. The price drop gradually weakened until it twisted at the bottom, found a market price and created strong All Time Low support. He was able to create a higher high at the highest TFs, and thanks to that I observe a potential change in the long-term momentum in the event of overcoming the last high. At the bottom of the whole cycle, a huge symmetrical triangle was created, which seems to me one-way.
👍🏻 The chart has a good time and a month to leave this structure, but for long-term trade it is ideal to accumulate positions already in the apex and just below the Point of Control of this triangle. Setup is for several months and offers extreme avg. RRR - 8.33 with the latest TP up to 647% of the current price. I would like to draw your attention to a very deep but safe SL 54%, so be sure to follow the established Money Management for this trade and enter with a small % of capital.
✅ BUYZONE - 3647-4635sat. StopLoss - 1898sat (54%). Take Profit marked on the chart.
❕ ATTENTION to Money Management. SL timeout 10min. Trailing TP 10%
1D chart:
Where BTC could go in relation to wishful vs magical thinking"The history of Bitcoin trading is a bubble, a correction, consolidation, and another increase." Barry Silbert
BTC/USDT Correction Prediction We experienced a massive dump/correction couple days ago. This was expected as Bitcoin pump to 52k very quickly. We might see an impulse then another correction (may be more) before BTC turn bullish.
I have broken into different zones according to supply and demand based on fear and greed -
Buy zone (Support) - This is a zone where there is high fear where retail investors do nothing, but whales and institutional investors buy and pumping the price up
FOMO zone - where retail invest buying after the pump/reversal
Sell zone (Resistance) - Where big players take profit where high Greed
According to this we might see an impulse towards FOMO/Sell zone then a correction toward the Buy zone 1 again. If that is breached then we can see the price dropping to Buy zone 2.
This is not financial advice please DYOR
$LINK: Lot's of impatience and FUD on twitterHey yall. I just wanted to point out that the point of greatest fear/ capitulation is also the point of greatest opportunity. $LINK isn't doing anything flashy right now, and people are getting very impatient and fomoing hard over the NFT craze. I've been saying this the entire time.... but $LINK isn't for us prospective investors. It's not even a blockchain... it's a decentralized network of oracle nodes. It's a network built for multi-billion dollar corporations. The $LINK token is the medium of exchange in this network. The token secures, holds vital information, and is the fuel for all participants in the network. We're being patient for a 2-5 year time frame and beyond. Once the price leaves this sub $100 dollar level, that'll mean that the cat is out of the bag. That the network is in full effect. That mass adoption of smart contracts by enterprise level business is in full swing. If you don't have your stack built by then? Good luck.
$LINK isn't a good investment for people who aren't able to afford holding for multiple years. I'm personally loving buying at these prices. Nothing about the amount of partnerships, the amount of progress, the amount of need for this network has changed.
BTC big ascending channelIn big ascending channel. Breakout to upside from this channel would be really bullish sign and lead to parabolic upside action. But if this resistance line holds, we could see retest of support line of this channel. Ascending channel is BEARISH figure and have more chance to break down, sooner or later...Inside of this channel we can see smaller rising wedge which is also BEARISH figure, and also have more chance for downside movement. Beside technical things, 50K is psychological boundary, and breaking this level could lead herd to FOMO in, and therefore moving price up. Watch these levels, for further BTC direction...
#BTCUPDATE - 17.8.21 ASCENDING TRIANGLE OR DUMP?
A strong wake up from the US has seen a push back into this ascending triangle. Whilst it looks positive right now I am still not fully sold that we aren't going to test some lower regions - again I still think $43k is a target here.
Holding above $46.6k will be a start - although still another trendline to break that is struggling to break.
We will meet $48k with resistance no doubt and a break through will highly likely see a huge rejection at $50k region maybe a little higher. As mentioned yesterday we are going to see some serious volatility over the coming couple of weeks.
My play is a break below $45.7k then short to $43k, holding above $46.6k then long to $48k with a 2nd target of $50k.
This is all subject to news drops - I have a "feeling" based on news cycles recently that some very very big BTC FOMO is about to drop. Tin foil hat theory!
Bitcoin (short term mindset) Potential Wickoff AccumulationOn a lower time frame , it seems like Bitcoin is doing the same thing as at 55-65k level.
Potential Wickoff accumulation mindset.
FOMO, The GOOD and the BAD! Good day everyone, this is my second psychology method. Today we are learning about FOMO. FOMO is another word for Fear of missing out. This means a couple of things in the mind of trader.
"Oh my god, it keeps going up."
"I am going to miss it"
"Fudge it, all in"
"I can make a lot of money if I go in."
"It is going to the MOON!"
When this comes to mind of a trader, it losses their train of thought. The strategy that they have been using just goes out the window. Some call it "Risk it for the biscuit."
The worse thing about fomoing into a crypto or pair is winning it, this is because it becomes a habit and each time something pumps 100% or more they end up fomoing. The only problem is, what if it doesn't go higher and it just dumps so quick for someone to react. In the end of the day, you will lose a lot of money. You might get lucky but luck runs out. If you win by fomoing once or twice, then do not keep doing it. It was free money that the market gave you. Go back to your strategy and just call it an Anomaly.
Example:
The crypto you are looking at is called ACH, this crypto got listed to coinbase and it pumped over 1,000% in the last 4 days. What I notice in the crypto chat, is that many people, especially people new to the market wanted to get in even though it pump so much. ACH kept going higher and higher and I knew the fomo was kicking in. Seconds later, boom it dump. It dumped fast. As a patience trader, I wait for the best entry and even though I miss the pump, I still manage to get 50% from scalping. Remember this is not the only method you use to be a successful trader. There are many aspect to become one.
Thank you!
Ethereum - Dead Cat Disaster - Low Vol. Pump to Big. Vol. SellsPonzi Pogs Collapse. Good job Binance. LMAO
Careful..... NOMO FOMO!
Patience Patience Patience...As a trader of 4 years, I learned Many things, but the most important thing I learned was being patience. Patience is by far the hardest thing to achieve because from my point of view, I always wanted to be in the market. The excitement, the blood rush, knowing you can make money quick and fast. That was my psychology. This problem is not only me, but many traders as well. I have spoken to an abundant amount of traders and they always tell me
"I can't miss this move"
"I want to make money fast"
"What if this is the bottom or what if this is the top"
"I miss my entry, but I will just go in anyway."
"I am bored."
"Market not moving"
When I started trading back then, I always had these comments imbedded in my mind as well. I always wanted to be in the market, I always wanted to make money fast, etc. But in reality this is not the case. I started to change my mindset of trading when I took a big loss, yes a big loss, not just any loss, a loss that made me learn my lesson.
It all started 2 years ago, I was trading a crypto pair. I had my plan set up. I knew where I should long and where I should short. Days pass and the price was nowhere near my area of interest. The feeling of boredom, the feeling of wanting to be in the market, the feeling of "I might miss out" came. So I took the trade. Then the next day happened, boom, I took a loss. I was upset and without being patience enough to wait for the entry, I took another trade because I wanted to get my loss back and I couldn't wait to do so and the result was another loss. This is where it happened, after both losses, I waited for the pair to go to my ideal set up, It took weeks before it did. I wanted to see what would have happened if I just waited. When the pair was in my ideal spot, I took the trade. Days pass and the trade hit my Take profit. That very moment, I knew I had to be patient.
As of now, Every Weekend, I mark my areas of interest from daily all the way down to 4 hour or even 1 hour. I have never taken a trade until it hits my area of interest. This made me a better trade.
Remember there are many more aspect of trading than just being patience. This is just one of many important key elements of becoming a successful trader!
DOGE USD It's Noobelisious !The Content is not intended to be a substitute for professional trading or medical advice , diagnosis, or treatment. Always seek the advice of your broker, physician or other qualified advice provider with any questions you may have regarding any condition or feeling you may have. This product is not intended to diagnose, treat, cure, or prevent any symptons that may or may not have been caused by fud or fomo.
Be aware that consuming hopium is solely at your own risk and that moderation is strongly adviced if you choose to do so.
📚EDUCATION: THE BASICS OF TRADING EXPLAINED📚
Hello, Traders!
The basics of what it takes to be a successful trader are simple and obvious
Yet daily, I see traders who fail at one or multiple KEY points that sink their performance and they keep losing accounts even though these people do have the understanding of the market that would have been sufficient enough for them to be profitable if they followed the basic rules. Trading is as much about pattern recognition and capacity for abstract thinking as it is about the personality type, self-discipline, and specific mindset.
The lucky few are born fit for trading, but others might train themselves.
Below, is the breakdown of the basics behind the day trading!
✅TRADING IS A BUSINESS NOT GAMBLING
99% of the new traders have unrealistic expectations of the kind of returns trading might deliver. To make matters worse, they do not realize that it will take years of trial and error before they can make trading Their only source of income.
These delusions make the newbies treat trading like gambling. To AVOID this, please follow these 4 easy steps:
🔥SET AND KEEP YOUR RISK-REWARD.
I recommend risking no more than 1% of the deposit per each trade, which also implies using a variable lot size for every trade, so that no matter the SL
size in pips, or the pair you are trading, the dollar value of the RIKS remains the same with each trade. That way, you are in full control of the risks you
are taking.
🔥DO NOT GO ALL IN.
Sounds obvious, but I’ve seen it so many times. New traders, who lost 70% of the account, GO ALL IN on one trade that they think might help them
recover the balance. That is NEITHER a way to trade, nor a way to learn. Slowly losing your account while learning how to trade, is simply a fee that you
are paying the market for your education. Accept it or fail.
🔥PROTECT CAPITAL=USE SL
I can’t stress this enough and I BEG YOU to use SL. Do NOT enter the trade thinking that if the SL level that you had in mind is hit you will close
manually. You will NOT close the position, and the longer you hold it the more is the temptation to wait a bit more because it seems that the reversal is
coming soon.
🔥CUT LOSSES
Set a daily loss limit. For example, you can Ban yourself from trading for the rest of the day if you lost more than 3 trades in a row. You will enter what
is called a tilt most likely, and you will NOT be productive that day. The same goes for a week. Lost more than 10% of the account in a week? Next week
NO TRADING for you. Watch the market passively, or trade on the demo! By the way, That can be helpful even for professional traders too!
✅KEEPING A COOL HEAD IS KEY
The ideal trader is the one who can set all emotions aside as a robot would, while simultaneously keeping the versatility of the human mind and the intuition, that the machines lack(yet). It is of utmost importance for the new traders to understand that being right about the direction but entering too early or too late is the same as being WRONG because the result will be a LOSS.
Here is how to keep cool:
🔥CONTROL YOUR EMOTIONS.
Both euphoria and a panic attack are your enemies so the more detached you are, the better. Emotions are for the casino, and we are doing business
here, remember?
🔥AVOID FOMO( FEAR OF MISSING OUT)
That one applies mostly to the trades that you are not so sure about, but still want to take them, in fear of not making money. And the early entries
are determined by FOMO too( what if the price does not reach my limit order, and the trade plays out well, but without ME?) FOMO is Incredibly
counterproductive, don't let it control you!
🔥DON’T FOLLOW OTHERS
Avoid herd mentality! 99% of traders lose money, so doing what everyone does inevitably lands you in the 99% category.
🔥BUILD A WATCH LIST
A LOT of the beginners try to PREDICT behavior of the particular instrument that they decided to trade for some reason, instead of going through the
pairs looking for a ready setup that you KNOW works. The former approach leads to finding patterns, key levels, and setups that just aren’t there.
Naturally, the result of trading these is an inevitable LOSS.You should Build a watchlist big enough for your to have a choice, and go through it at
regular intervals, looking for opportunities but NOT INVENTING them.
✅ CONSISTENCY OVER BOOM-BUST STYLE
Consistent trading is the only way to make trading a reliable source of income. Slow but steady gains always beat leap-like boom-bust performance.
The psychological pressure of the latter will most likely break you sooner or later, and who needs gray hair in their 30es anyway?
That is how you achieve consistency:
🔥FIND A STRATEGY
Do the research on multiple trading strategies and pick those that you understand and that are compatible with your personality.
🔥USE PAPER TRADING AND BACKTESTING
To select which strategy is right for you, use backtesting to see how the strategy performed in the past. And use paper trading to see how the strategy
works in real-time.Once you chose the strategy, go back to paper trading and backtesting to polish it.
🔥TRACK YOUR TRADES
Keeping track of your trading! Working with that data is an invaluable tule for the trader, that helps identify your strengths and weaknesses, while also
helping you notice patterns in your trading that would have been left unrecognized otherwise.
🔥FORMALIZE YOUR RULES
Objectivity is KEY for consistent trading because during the rough patches of the market, being sure of your rules helps you stay in the market, waiting
for the tailwind, instead of questioning your strategy or your implementation of it. Create a strict ALGORITHM and follow it step by step. In order to do
that, you need to define every element of your strategy as precisely as possible. For example, a level for you is a daily horizontal level with at least 3
touchpoints, a breakout is valid only if the 4H candle closed above the level, etc... The less vague the terms, the fewer emotions will be involved in
deciding whether to enter the trade or not.
❗️IN CONCLUSION: If you want to become a trader, remember:
1- It will take YEARS to learn how to trade.
2- You will lose a TON of money in the process
3- You will FAIL with 95% probability.
4-Realistic returns from trading are WAY lower than you think
5-BUT when you succeed, you will set yourself free!
Please SUPPORT This Idea By A LIKE and COMMENT!
📚EDUCATION: THE BASICS OF TRADING EXPLAINED📚
Hello, Traders!
The basics of what it takes to be a successful trader are simple and obvious
Yet daily, I see traders who fail at one or multiple KEY points that sink their performance and they keep losing accounts even though these people do have the understanding of the market that would have been sufficient enough for them to be profitable if they followed the basic rules. Trading is as much about pattern recognition and capacity for abstract thinking as it is about the personality type, self-discipline, and specific mindset.
The lucky few are born fit for trading, but others might train themselves.
Below, is the breakdown of the basics behind the day trading!
✅ TRADING IS A BUSINESS NOT GAMBLING
99% of the new traders have unrealistic expectations of the kind of returns trading might deliver. To make matters worse, they do not realize that it will take years of trial and error before they can make trading Their only source of income.
These delusions make the newbies treat trading like gambling. To AVOID this, please follow these 4 easy steps:
🔥SET AND KEEP YOUR RISK-REWARD.
I recommend risking no more than 1% of the deposit per each trade, which also implies using a variable lot size for every trade, so that no matter the SL
size in pips, or the pair you are trading, the dollar value of the RIKS remains the same with each trade. That way, you are in full control of the risks you
are taking.
🔥DO NOT GO ALL IN.
Sounds obvious, but I’ve seen it so many times. New traders, who lost 70% of the account, GO ALL IN on one trade that they think might help them
recover the balance. That is NEITHER a way to trade, nor a way to learn. Slowly losing your account while learning how to trade, is simply a fee that you
are paying the market for your education. Accept it or fail.
🔥PROTECT CAPITAL=USE SL
I can’t stress this enough and I BEG YOU to use SL. Do NOT enter the trade thinking that if the SL level that you had in mind is hit you will close
manually. You will NOT close the position, and the longer you hold it the more is the temptation to wait a bit more because it seems that the reversal is
coming soon.
🔥CUT LOSSES
Set a daily loss limit. For example, you can Ban yourself from trading for the rest of the day if you lost more than 3 trades in a row. You will enter what
is called a tilt most likely, and you will NOT be productive that day. The same goes for a week. Lost more than 10% of the account in a week? Next week
NO TRADING for you. Watch the market passively, or trade on the demo! By the way, That can be helpful even for professional traders too!
✅KEEPING A COOL HEAD IS KEY
The ideal trader is the one who can set all emotions aside as a robot would, while simultaneously keeping the versatility of the human mind and the intuition, that the machines lack(yet). It is of utmost importance for the new traders to understand that being right about the direction but entering too early or too late is the same as being WRONG because the result will be a LOSS.
Here is how to keep cool:
🔥CONTROL YOUR EMOTIONS.
Both euphoria and a panic attack are your enemies so the more detached you are, the better. Emotions are for the casino, and we are doing business
here, remember?
🔥AVOID FOMO( FEAR OF MISSING OUT)
That one applies mostly to the trades that you are not so sure about, but still want to take them, in fear of not making money. And the early entries are
determined by FOMO too( what if the price does not reach my limit order, and the trade plays out well, but without ME?)
FOMO is Incredibly counterproductive, don't let it control you!
🔥DON’T FOLLOW OTHERS
Avoid herd mentality! 99% of traders lose money, so doing what everyone does inevitably lands you in the 99% category.
🔥BUILD A WATCH LIST
A LOT of the beginners try to PREDICT behavior of the particular instrument that they decided to trade for some reason, instead of going through the
pairs looking for a ready setup that you KNOW works. The former approach leads to finding patterns, key levels, and setups that just aren’t there.
Naturally, the result of trading these is an inevitable LOSS.You should Build a watchlist big enough for your to have a choice, and go through it at
regular intervals, looking for opportunities but NOT INVENTING them.
✅ CONSISTENCY OVER BOOM-BUST STYLE
Consistent trading is the only way to make trading a reliable source of income. Slow but steady gains always beat leap-like boom-bust performance.
The psychological pressure of the latter will most likely break you sooner or later, and who needs gray hair in their 30es anyway?
That is how you achieve consistency:
🔥FIND A STRATEGY
Do the research on multiple trading strategies and pick those that you understand and that are compatible with your personality.
🔥USE PAPER TRADING AND BACKTESTING
To select which strategy is right for you, use backtesting to see how the strategy performed in the past. And use paper trading to see how the strategy
works in real-time.Once you chose the strategy, go back to paper trading and backtesting to polish it.
🔥TRACK YOUR TRADES
Keeping track of your trading! Working with that data is an invaluable tule for the trader, that helps identify your strengths and weaknesses, while also
helping you notice patterns in your trading that would have been left unrecognized otherwise.
🔥FORMALIZE YOUR RULES
Objectivity is KEY for consistent trading because during the rough patches of the market, being sure of your rules helps you stay in the market, waiting
for the tailwind, instead of questioning your strategy or your implementation of it. Create a strict ALGORITHM and follow it step by step. In order to do
that, you need to define every element of your strategy as precisely as possible. For example, a level for you is a daily horizontal level with at least 3
touchpoints, a breakout is valid only if the 4H candle closed above the level, etc...
The less vague the terms, the fewer emotions will be involved in deciding whether to enter the trade or not.
❗️ IN CONCLUSION: If you want to become a trader, remember:
1- It will take YEARS to learn how to trade.
2- You will lose a TON of money in the process
3- You will FAIL with 95% probability.
4-Realistic returns from trading are WAY lower than you think
5-BUT when you succeed, you will set yourself free!
Please SUPPORT This Idea By A LIKE and COMMENT!
