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Top 3 Forex Gold Setups I Will Be Trading in 2026 Among the different strategies and signals that I relied on in 2025, there were 3 exceptional setups that showed the highest accuracy and profitability. In this article, I will explain the structure and price model of these setups and equip you with the best entry signals for trading in 2026. Discover what worked best in Forex and Gold trading in 2025. The first powerful setup that showed great results last year is based on an old-school price action chart pattern - double top & bottom . But don't trade each double top & bottom that you spot. To achieve the highest win rate, these patterns should form on specific time frames and on specific price levels. Please, study a bullish model: The price should test a key daily support level. After that, a double bottom pattern should form on 1H time frame. Your signal to buy will be a breakout and an hourly candle close above its neckline. Set your buy limit order on a retest of that, stop loss will lie below the bottoms, take profit will be the closest intraday resistance. Here is an example: Now, examine a bearish model. The price should test a key daily resistance level. After that, a double top pattern should form on 1H time frame. Your signal to sell will be a breakout and an hourly candle close below its neckline. Set your sell limit order on a retest of that, stop loss will lie above the bottoms, take profit will be the closest intraday support. Here is an example on NZDUSD forex pair: Meeting all the required criteria, this setup achieved 76% accuracy in 2025. The second setup that had a high win rate last year is from Smart Money Concepts trading. It is based on a combination of liquidity zones, traps, and imbalances. Please, examine a bullish model of that setup. We need a t est of a daily liquidity demand zone and a bearish trap below that. After a trap, a bullish imbalance should occur on an hourly time frame. I suggest looking for a bullish engulfing candle and return of the price within or even above a liquidity zone with a close of that candle. Buy the market immediately after a candle close. Set your stop loss below the low of the trap. Your take profit will be the closest intraday supply zone. Please, study an example on EURAUD: Now, study a bearish model. We need a test of a daily liquidity supply zone and a bullish trap above that. After a trap, a bearish imbalance should occur on an hourly time frame. I recommend looking for a b earish engulfing candle and return of the price within or even below a liquidity zone with a close of that candle. Sell the market immediately after a candle close. Set your stop loss above the high of the trap. Your take profit will be the closest intraday demand zone. Please, check the example: Meeting all the conditions, this setup showed 79% accuracy. The last setup worked phenomenally well in Gold trading last year. Because of a crazy bullish rally that the market started straight from the beginning of 2025, this simple pattern provided huge gains. I am talking about a bullish flag pattern. Please, note that the first 2 setups were bullish and bearish. In a current case, we are considering only a bullish flag. Make sure that the market is bullish . After an update of a new high and a formation of a new higher high higher close, expect a correctional movement on a 4H time frame. The price should start falling , forming an expanding, parallel or contracting channel - a bullish flag. Your strong signal to buy will be a bullish breakout and a 4H candle close above a resistance of the flag and the last lower high within that. Set your buy limit order on a retest of the broken level of the last LH, Set stop loss below the lows of the flag, Your take profit will be the closest psychological level above a current high. Alternatively, you can trade this model without take profit and apply trailing stop loss. That's the example of this price model: This pattern achieved 69% accuracy. But because of a strong bullish momentum, each profitable signal produced enormous gains. If Gold continues rallying next year, and I think it definitely will, keep an eye on bullish flags as your signal to buy. Using these 3 setups, you can successfully trade Forex and Gold in 2026. Integrate them in your trading strategy, learn to recognize them and follow the rules that I provided. Let these setups bring you huge gains this year. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
1
Trusting Your System After a Losing StreakTrusting Your System After a Losing Streak Welcome everybody to another educational article. Today we are covering one of the hardest moments every trader, beginner, novice or pro will face: “Trusting your system after a losing streak.” This is where most traders ditch profitable systems not because the system failed, but because emotion took control and said “I am Losing with this” Trusting your system after a losing streak is not about blind belief. It is about understanding probability, psychology, and discipline. What Is a Trading System? A trading system is a set of clearly defined rules that control: • Entries • Exits • Risk management • Trade management A system removes emotion and replaces it with structure. An EDGE that works best for you. What Is a Losing Streak? A losing streak is a series of losing trades that occur within normal probability. Losing streaks are not failure, they are a statistical reality in trading. (They are needed) Profitable system experience drawdown. Gaining Trust in a System: Trust is not given it is built. You build trust in a system by: • Clearly defining system rules • Back testing across different market conditions • Forward testing in demo or small size • Tracking performance over a large sample size Testing proves that losses are part of the system not a sign is not broken. When you have seen the data, losses stop feeling personal. Losing Trust in a System Traders lose trust in their system when emotion overrides logic. This often happens when: • A losing streak appears unexpectedly • Results don’t match recent performance • Social media shows others “winning” • Patience runs out Instead of reviewing data, traders: • Change strategies weekly • Mix systems together • Add random indicators • Chase the next “better” setup This strategy-hopping resets progress and prevents mastery. Maintaining Trust After a Losing Streak Maintaining trust is purely mental. You must control the urge to react emotionally. Even when trades lose, you still benefit. Every loss provides: • More data • More clarity • More understanding of system strengths and weaknesses Losing streaks often occur because: • Market conditions change • Volatility shifts • Structure transitions These periods allow you to adapt, refine, and improve your strategy. Trading Is Not Judged Only by Money We live in a world where success is measured by money. Trading is different. A trade is not defined by profit or loss, it is defined by execution. As mentioned in previous posts: Positive Wins vs Negative Wins A positive win: • Making money while following the plan • Hitting a target and stopping for the day A negative win: • Hitting stop loss • Accepting it • Closing the platform • Being done for the day It may feel frustrating — but discipline is strengthened. That frustration is growth. Losses Are Data, Not Failure By following your rules even when you lose, you strengthen your system. You did not receive a money return you received a data return. That data: • Refines your edge • Improves your entries • Strengthens your confidence • Leads to long-term profitability Every losing trade is an investment in future performance. Losing streaks do not mean your system is broken. They mean the system is being tested. Trust is built through: • Data • Discipline • Consistency • Emotional control Traders who survive losing streaks grow. Traders who react emotionally reset themselves. Trust the process. Respect the data. Stay disciplined. That’s how profitable traders are made.
Education
by King_BennyBag
53
Why Revenge Trading Feels Logical.. But isn'tWhy Revenge Trading Feels Logical.. But Isn’t Welcome everyone to another educational article. Someone recently DM’d me. They requested a post on revenge trading , so to you, this one’s for you! Enjoy mate. Revenge trading is one of the best ways to ruin months or years of progress. Blood, sweat and tears. What makes it deadly is that in the moment, it actually feels logical. But it is not. (DEFINITION) What Is Revenge Trading? Revenge trading is the process of trading based on negative emotions rather than logic or probability. ( As you are supposed too. ) It usually takes place after the following: • A losing trade • A losing streak • A missed opportunity It shows up as: • Increasing risk (Doubling margins) • Forcing trades (Impatience) • Trading without confirmation (Forcing Trades) • Trying to “make back” what was lost (Revenge) • Ignoring your trading plan (No longer following) Revenge trading is not a strategy problem, it’s a psychology problem. It happens when emotion overrides discipline. Why Revenge Trading Feels Logical After a loss, your brain wants relief, not stress. ( DOPAMINE ) You think: • “I just need one good trade.” • “I know the market owes me.” • “If I double my size, I’ll recover faster.” This feels logical because: • You are still focused on the market • You may even see a valid setup • You are trying to restore balance emotionally, not financially But this is not the rational side of you making decisions. Professional traders do not increase risk after losses. They reduce it or stop trading entirely. Even if you see an A+ setup after five losses, that trade does not guarantee recovery & success. If you break your system to take it, even breakeven, that is still a loss because discipline was broken. (Talk about negative, and positive wins & losses in my previous posts) Why Revenge Trading Is Not Logical Revenge trading assumes: • The market cares about your losses • You’re “due” for a win • Increasing risk increases certainty None of these are true, and never will be. The market does not know you exist. Doubling down does not recover losses, it amplifies them. Revenge trading replaces probability with hope, and hope is not a strategy. How to Avoid Revenge Trading Revenge trading cannot be eliminated but it can be controlled. 1. Add Hard Limits to Your Trading Use tools that lock you out after a set number of trades or losses. • Example: After 3 losing trades, you are done for the day • Tools like Magic Keys allow this Removing access removes temptation. 2. Use Accountability Have someone hold you accountable: • A trading buddy • A shared performance log • Daily updates on discipline, not profit Shame & humility is a powerful discipline tool when used correctly. It is also required to grow. 3. Control Your Deposits Most banks allow: • Fixed recurring deposits • Locked accounts • Delayed transfers Limit how much damage emotion can do in one day. 4. Fall Back to Paper Trading If you keep losing real money: • Stop using real money • Paper trade • Rebuild discipline If you cannot control emotion without money, you will not control it with more money. 5. Replace Anger With Physical Action Revenge trading is fueled by anger and stress. Physical activity regulates stress hormones and releases: • Endorphins • Endocannabinoids These reduce frustration and calm the nervous system. Conclusion Revenge trading will always exist. It will come back again and again. What matters is how you face it and how you respond. Unchecked revenge trading destroys: • Savings • Accounts • Confidence • Lifetimes of work Most people don’t realize how serious it is until it’s too late. Trade safe. Stay disciplined. Thanks for reading.
Education
by King_BennyBag
77
Fear vs Greed which actually loses you more moneyWelcome everyone, to another educational article for anyone who wants to grasp the concepts of trading and the trader’s mind. Today we will look at Fear Vs Greed. Summary: Fear and greed, they interlock. They are the two strongest emotions in trading, and in psychology of trading. A majority of traders blame the market, their broker, their computer. The truth is though, nearly each loss happens because of their own decision making. Today we will break down: - What fear and greed really mean in trading - How each one can cause losses, or continuous losses - Which emotion actually costs the trader more money Definitions: Fear in Trading The emotion “ Fear ” in trading, is a natural response to potential losses, or misses. It displays itself as: - Hesitation - Fear of missing out (Also known as FOMO) - Doubt - Anxiety - Fear of being incorrect Fear usually causes traders to act too late in the game or not act at all. This can cause losses. Definitions: Greed in Trading The emotion “ Greed ” in trading, is also a natural response. It is the desire for more, than what the set plan allows. It displays itself as: - Overtrading - Breaking Risk Management rules - Holding trades for too long - Overleveraging - Breaking risk management rules Greed causes the trader to take TO much risk. Fear and Greed, how they link to Trading Psychology Both Fear and Greed come from the same place and mind. ( Psychology ) They are natural responses too certain stages of “ Uncertainty ” - Fear, aims to protect you from the pain of losses. - Greed, aims to maximize the pleasure from wins. Neither of which belong in a probability-based environment. How Traders lose money to FEAR Fear causes losses in many silent ways. Traders lose money when fear causes them to: - Leave valid setups - Exit trades early - Miss entries due to multiple losses - Chasing FOMO prices at the top Fear is not always passive, but it looks like impulsive buying, driven by the fear of missing out. Both hesitation and FOMO are just fear based decisions. How Traders lose money to GREED Greed causes losses in more “ aggressive ” ways, often a bit more destructive. Traders lose money when greed causes them to: - Hold trades with no defined take profit zone, (during short or longs) - Ignore stop losses when price breaks below - Increase risk after wins (Ego takes over) - Overleveraging positions The emotion of Greed, can convince traders that “ just one more ” or “ a little more ” is worth breaking the plan. When really, greed blows up the account faster than bad entries every could. Which loses more money? The answer depends on the trader. Some traders lose more from Fear, others.. Greed. But in the end, the core problem is the same. Both come from: - Weak Psychological control - Lack of discipline - Poor or ignored risk management As always, the market doesn’t punish emotions, it punishes emotional behavior. Same as if it’s to reward, it rewards positive behavior like patience, discipline, psychological control Final Conclusion | How to Reduce Emotional Losses Fear and Greed, will forever exist. The goal is not to terminate them, but to control them. Ways to reduce these emotional losses are: - Use demo or paper trading to build confidence without financial pressure - Trade with money you can afford to lose - Define risk before entering every trade - Follow fixed position sizing - Focus on Process, not profit (Mentioned this in my previous guides) Imagine the money you trade with, as money that is being burned in front of you. If you cannot accept that outcome before entering a trade, you should not be in a trade. Emotions disappear when risk is respected. I'd like to thank every one of you for your support over the last few months, I greatly appreciate it and I am happy to see that my posts are benefitting most of you during your trading journey. If you have any questions, or requests for the next post. Let me know in the comments below!
Education
by King_BennyBag
65
Trading Liquidity – Quick Guide in 5 StepsWelcome back everyone to another guide, today we will speed run "Trading Liquidity" in a quick 5 step guide. Be sure to like, follow and join the community! 1) Identify Liquidity: - Equal highs or cluster of highs (Buy-side Liquidity) - Equal lows or cluster of lows (Sell-side Liquidity) - Obvious highs & lows 2) Identify Liquidity Direction (Price moves towards liquidity first): - Equal highs > Price is likely to sweep above - Equal lows > Price is likely to sweep below 3) Wait for Liquidity Sweeps - Price takes out lows - Stops get triggered - Look for rejection or close back inside Do NOT enter before the sweep or before the confirmation. 4) Enter Trade: Enter after confirmation, away from liquidity - Stop loss: Longs > Below Swept Lows - Stop loss: Shorts > Above Swept Highs 5) Take Profits: - Take Profit: Nearest opposing liquidity - Take Profit: Previous high/low - Take Profit: Range boundaries RESULTS: Liquidity sweep > confirmation > clean move Thank you all so much for reading! Hopefully this is a useful guide in the future or present! If you would like me to make any simplified guides, articles or tutorials, let me know in the comment section down below - or even contact me through trading view. Thank you!
Education
by King_BennyBag
67
How Overconfidence Destroys Profitable TradersHow Overconfidence Destroys Profitable Traders Understanding Overconfidence in Trading Welcome everyone to another article. One of the most dangerous stages a trader can walk into is not fear… but overconfidence. (EGO) Overconfidence in trading is essentially ego. However, there is still an important difference: - Confidence is a real belief built on proof, statistics, and discipline. - Overconfidence is an inflated belief in your ability beyond the proof. This is driven by ego. Many traders do not fail because they do not know enough. They fail because at some point, they believe they know enough or know “everything.” What Overconfidence appears as in Trading: A trader builds a system. ( yay! ) They go on a clean winning streak maybe 10, 12, even 15 profitable trades in a row. At this point, the trader begins to think and assume: “ I’ve cracked the code. ” - Risk gets increased . - Position sizes get bigger . - Rules start to bend . Confidence continues grow until it crosses a dangerous path where belief is no longer supported by data, statistics and proof. Reality eventually steps in. You will never again feel as confident as you did during your first major winning streak when it looked like the market finally made sense and success was “ figured out. ” That feeling is exactly what traps traders. Overconfidence WILL break Risk Management Overconfidence destroys a trader by slowly dismantling their risk management, their system, their discipline, their psychology and their consistency. It rarely happens all at once. First: - “ I’ll just risk a little more this time. ” - “ This setup looks perfect. ” - “ I’m on a winning streak. ” Over time, the trader begins to: • Ignore position sizing rules ( Too many LOTS or contracts ) • Move stop losses (Increases risk) • Add to losing trades ( Does not accept the original loss ) • Trade larger to “maximize opportunity” (Stick to what you can afford to lose ) The trader thinks and believes the system will continue to work, because it worked before. But markets do not reward belief, they reward discipline. (I have mentioned this many times in my previous posts.) Once risk management breaks, even a profitable system becomes dangerous and can lead to zero profits, or even down to negatives. Overconfidence Blocks Positive criticism and continuous Learning There is no such thing and there will never be a 100% perfecto trading system/strategy. Losses are part of the game. Overconfident traders struggle when reality does not meet their expectations. Instead of adapting to the market by adjusting their strategy they: - Resist feedback (Or consider any feedback as hate/negative criticism) - Ignore changing market conditions (Consolidation, flat lining, barcoding etc) - Refuse to admit the system is underperforming (Bad performance & results) - Believe the problem can’t be them (“It’s not the system, it’s the computer!”) But Why…? Well because… their mind keeps rewinding the dopamine high from when everything worked perfectly and the win rate was 99% They only remember the wins, and “ GREEN ” $$$ %%% not the probability. The exact moment a trader believes they “can’t be wrong,” learning comes to a halt. And in trading, when learning stops, losses accelerate, revenge trading increase, risk management collapses, and consistency becomes scrambled. Overconfidence changes Traders into > Gamblers Overconfidence does not just cause losses it can also change behavior. Frustration from unexpected losses turns into: - Anger - Impatience - Forced trades - Revenge trading Rules get ignored. Emotions take control. The trader may still look like a trader, but they are acting like a gambler. The most dangerous part? They still believe they are right… Example: How Overconfidence Destroyed a Profitable Trader Let’s look at Bobby. Bobby was a profitable trader. A very successful one in his 4th year of trading. He discovered what he believed was a 99% win-rate system. The first month was incredible. The second month was just as good. Cash flowing in, heaps of green. By the third month, losses started to appear. Instead of falling back, taking a breather and reassessing , Bobby doubled down. Continuing to trade the same system despite clear signs of underperformance. He was no longer focusing on perfect executions and setups, he was chasing the high. Losses turned into frustration . Frustration turned into anger . Anger turned into impatience . Soon Bobby was: • Forcing trades • Revenge trading • Ignoring risk management Bobby refused to take responsibility. “It was my internet.” “My computer lagged.” “My family distraccted me.” The excuses piled up, but the account kept shrinking. Bobby did not fail because of the system. Bobby failed because ego stopped him from adapting to the market and adjusting his system. Markets Will Always Humble Ego Markets will humble traders in ways they never expect. No matter how experienced you are, there is always something else to learn. Trading is not a destination, it is a constant process of adaptation towards the market. Traders who believe they “know everything” will always be reminded by the market that They. Do. Not. Overconfidence doesn’t end trading careers immediately. But it slowly erodes them trade by trade turning it into mental torture. Final Thoughts Confidence is necessary to trade.. But Ego is fatal! The very moment a trader believes they have cracked the code is often the moment their decline begins. Stay humble. Respect risk. Let statistics, not emotion, guide your decisions. Because in trading, the market doesn’t punish ignorance it punishes ego.
Education
by King_BennyBag
46
The Only Stop Loss and Take Profit Strategy You Need This stop loss and take profit strategy is unique: being very efficient, safe and accurate , it can be applied for day trading, swing trading and scalping. In this article, I will teach you how to easily place stop loss and target, applying just one basic technical tool. Imagine that you are planning to open a trading position. You may decide to open a swing trade on a daily, a day trade on an hourly time frame, or a scalping trade on 15 minutes time frame. For the sake of the example, we will take a short position on GBPUSD on a daily, a short position on NZDUSD on an hourly time frame, and a long position on USDCHf on 15 minutes time frame. In order to identify safe levels for TP and SL on GBPUSD, identify the closest key horizontal support and resistance on a daily time frame. When you underline key structures, make sure that you consider the candle closes and the wicks , so that the key structure would represent the area . Your safe stop loss will be strictly above the closest horizontal resistance, while your target will be the upper boundary of a key horizontal support. Selling NZDUSD on an hourly time frame, identify the closest key horizontal support and resistance on an hourly time frame. Your safe stop loss will lie above a key resistance, and your take profit will be the upper boundary of a key support. Buying USDCHF on 15 minutes time frame, you do the same thing. You identify the closest support and resistance. Your safe stop loss will be below a key support, while your take profit will be a lower boundary of a key resistance. Planning your trade, always remember to assess th e reward to risk ratio of your trade. If the risk is bigger than the reward, such reward to risk ratio will be called negative . Such a trade is better not to take. While, the trade where reward exceeds risk will have a positive r/r ratio. Such a trade we can take. This stop loss and take profit placement technique is not perfect. With experience, you will learn to set even safe stop loss and take profits, but for beginners, that is one of the safest strategies to follow. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
5
The Boredom Stage of Trading - Why Most Traders Quit HereGood morning, all, thank you all for coming today. Today we will be looking into the “ Boredom ” Phase of trading, and why most new traders quit because of it. Lets begin. What Is the Boredom stage during Trading? Boredom in trading is the stage where the excitement goes away, but the results have not arrived yet. You are no longer a beginner filled with hype, joy and excitement. You are aware of, and understand the basics, you have a strategy, and you know what you should be doing. Yet progress feels slow , repetitive , and unrewarding . There are less trades, fewer emotional highs, and long stages of patiently waiting. This is where trading begins to feel boring , and for many traders, boredom feels like failure, it feels like they are failing since they are not “ doing anything. ” This phase is not a sign you are doing something wrong it is a sign you are doing something right . How the Boredom stage Affects Traders Boredom secretly ruins traders because it does not feel dangerous. During this period, traders will often: • Start forcing trades just to feel active or “ alive ” like they are doing something. • Break rules out of impatience ( breaking their own system ) • Abandon strategies that are working ( same as above ) • Chase excitement instead of probability ( they seek the 100x return ) • Confuse “ no trades ” with “ no progress ” ( If you follow your system and wait, you are making progress ) The market rewards patience, but boredom pushes traders toward action. This creates losses, frustration, and eventually self-doubt. ( Which no one wants ) Many traders do not fail because they lack knowledge or skill. They fail because they cannot tolerate stillness. ( They psychology weakens when they face boredom. ) Why the stage Phase Occurs The boredom phase takes place when trading becomes process-driven instead of emotion-driven. ( It becomes mechanical ) Early trading is exciting because: • Everything feels new • Wins feel euphoric • Losses feel catastrophic • The market feels fast and you feel uncertain • You are eager to learn more As you improve, your trading becomes: • More selective and tight • More rule-based and systematic like • Slower and quieter ( calm ) • Less emotionally stimulating This shift removes chaos, but it also removes excitement. The market hasn’t changed. You have. And most people mistake this emotional flatline as a sign that something is missing. ( This is where “ The market rewards patience ” comes in. The market rewards those who wait. ) How to Overcome the Boredom stage The key to overcoming boredom is understanding that trading is not meant to entertain you. ( It is just like a 9-5, you must follow rules, a system. Just in your own routine. ) Practical ways to handle this phase: • Reduce screen time once your plan is complete. ( Do not over trade ) • Focus on execution quality, not trade quantity. ( Quality over quantity ) • Track rule-following instead of PnL. ( Did you follow your system? ) • Journal boredom-triggered decisions. ( Losses from impatience? ) • Accept that waiting is part of the job. ( Strengthen your mind by waiting. ) Professionals do not trade more and when they are bored, they trade less. The goal is not to feel engaged and hyped up. The goal is to remain consistent and disciplined. Why the Boredom stage Is a Filter, not a Problem The boredom stage exists to separate traders who want excitement from traders who want results. ( Splits Gamblers from Real Traders ) Most people quit and give up here because: • There is no longer any dopamine . • Progress feels slow, painful or invisible. • Social media makes others look “ active ” when it is actually not. • Patience feels unproductive since the mind is sitting “ idle .” But this stage is where real traders are built. If you can: • Follow rules without excitement. ( Follow your system ) • Sit through days with no trades. ( Accept the process of waiting ) • Trust your edge without constant validation. ( Ensure to backtest to prove this. ) • Stay disciplined when nothing happens. ( Do not give in to FOMO. ) You have already passed a major psychological barrier. The boredom phase is not a dead end it is a gateway that sits at the end of a long run. Those who quit here were never meant to last. Those who stay quietly move closer to consistency and mental freedom. Final Thoughts Every profitable trader has survived the boredom phase. Most failed traders quit during it because of weak psychology. If trading feels boring, repetitive, and uneventful, that is good. That means emotions are leaving and structure is taking its place. The market does not reward excitement. It rewards endurance, patience, discipline, consistency and proper risk management.
Education
by King_BennyBag
87
Why Consistency Beats Talent in TradingWelcome all to another post! In today's post we will review the difference between Talented trading and consistent trading. Why Consistency Beats Talent in Trading Many new traders usually enter trading believing that success belongs to the most intelligent individuals, the most analytical, or the most “naturally gifted.” In any field. When in reality, the market only rewards something that is far less glamorous, and that is.. consistency. Talent can help you understand charts faster and/or grasp concepts a lot quicker, but it is consistency that determines and shows whether you survive long enough to become profitable and make a positive return. Talent Creates Potential | Consistency Creates Results Talent shows up early, like in the first week or two. You might spot patterns instantly, win a few trades, or feel like trading “just makes sense” to you. Consistency shows up later and it’s far rarer. The market does not care how smart you are. It only responds to: - How often you follow your rules and system. - How well you manage risk ( or gamble it. ) - How disciplined you are under pressure and stress - A talented trader who trades emotionally will eventually lose, ( always lose. ) - A consistent trader with average skills can compound them steadily over time. Why Talented Traders Often Struggle Ironically, talent can be a disadvantage ( keep on reading ) Talented traders often: - Rely on intuition instead of their own rules or the games rules ( or common sense. ) - Take trades outside their plan ( like above, not following their rules. ) - Increase risk after a few wins ( again, not following RM rules. ) - Ignore data because “ they feel confident ” This leads to inconsistency big wins followed by bigger losses. ( Gambling ) The market eventually punishes anyone who treats probability like certainty. Consistency Turns Probability into an Edge Trading is not about being right it’s about commencing the same process over and over. Consistency means: - Taking only the setups you’ve defined. (Defined what A+ is) - Risking the same amount per trade. (Risk Management) - Accepting losses without deviation. (Moving on after a loss) - Following your plan even after losing streaks. (Maintaining consistency) One trade means nothing. A hundred trades executed the same way reveal your edge. Consistency allows probability to work for you, not against you. The Market Rewards Discipline, Not Brilliance The best traders in the world are not constantly trying to outsmart the market. They: - Trade fewer setups - Keep their approach simple - Protect capital first - Let time and repetition do the work - They understand that survival is the first goal. - You can’t compound an account you’ve blown. Consistency Is Boring and That’s the Point Consistencty lacks excitement. There are no adrenaline rushes, no heroic trades, no all-in moments. Just repetition, patience, and restraint. This is why most people fail. The market filters out those who chase excitement and rewards those who treat trading like a business, not entertainment. Talent Without Consistency Is Temporary Many traders experience early success. Very few maintain it. Short-term success often comes from: - Favorable market conditions - Random luck - Overconfidence Long-term success comes from: - Process - Risk control - Emotional discipline Consistency is what turns a good month into a sustainable career. How to Build Consistency as a Trader Consistency is a skill not a personality trait. You build it by: - Defining clear trading rules - Using fixed risk per trade - Journaling every trade honestly - Reviewing performance regularly - Trading less, not more Your goal isn’t to be impressive. Your goal is to be repeatable. Final Thoughts Talent may get you interested in trading. Consistency keeps you in the game. In a profession driven by uncertainty, the trader who shows up the same way every day will always outperform the one chasing brilliance. In trading, consistency doesn’t just beat talent > it replaces it. Thank you all so much for reading, I hope everyone enjoys it and that it benefits you all! Let me know in the comments below if you have any questions or requests.
Education
by King_BennyBag
88
Trading Wedges - Quick Guide in 5 StepsWelcome back everyone to another guide, today we will speed run "Trading wedges" in a quick 5 step guide. Be sure to like, follow and join the community! 1) Identify the wedges: - Falling Wedge - Rising Wedge - Symmetrical Wedge (Triangle) 2) Identify Breakout Direction: - Falling Wedge > Bullish Breakout Expected - Rising Wedge > Bearish Breakout Expected - Symmetrical Wedge (Triangle) > Consolidation Expected Breakout should show a candle closing outside the wedge. 3) Wait for retest to take place on previous key level or resistance (which would now be support) If the retest holds with a strong rejection candle or consolidation - begin to long. 4) Enter Trade: Enter on successful retest confirmation SL for longs should be below previous low's SL for shorts should be above previous highs. 5) TP levels: TP 1) First high target TP 2) Second high target TP 3) Third high target. RESULTS: Price has soared up high and hit all three Take profits. For trader who are wanting more profits you can potentially enable TP trailing afterwards - however I don't recommend this as you need to factor in your emotions of "GREED" Thank you all so much for reading! Hopefully this is a useful guide in the future or present! If you would like me to make any simplified guides, let me know in the comments below or contact me through trading view!
Education
by King_BennyBag
75
Gold Forex Trading During Major Economic Events & News Releases I guess you already noticed how impulsively the markets may react to economic events and news. In this article, I will teach you a simple strategy to follow during important news release s and how to trade news. 1. Sort out the economic calendar There are a lot of news in the economic calendar. They are not equal in their impact. Most of the economic calendars indicate the potential significance of each event: while some news have low importance, some have medium importance and some are considered to be extremely important. For example, above is the list of coming UK fundamental news. You can see that these news have different degree of importance. My recommendation to you is to sort out the economic calendar in a way, so it would display only the most important news. Among the news that we discussed above, only one release has high importance. 2. Know on what trading instruments does the news have an effect While some of the news in the economic calendar may impact many financial markets and trading instruments, some news may affect very particular instruments. For example, a FED Interest Rate decision may have a very broad effect on financial markets. At the same time, Interest Rate Decision in Australia may affect only Australia - related instruments. 3. Don't trade one hour before the news and one hour after the release Once you see the important fundamental news coming, don't trade the trading instruments that can be affected by the new s 1 hour before and after the release. For example, in 5 minutes we are expecting important UK news - CPI data. I stopped trading GBP pairs 1 hour before the release of the news, and will resume trading them one hour after the release. 4. Protect your trading positions 5 minutes ahead of the news If you have an active trading position and related important news are expected, move your stop loss to entry 5 minutes ahead of the release of the news. For example, I have a short trade on GBPAUD. I see that in 5 minutes important UK data is coming. I will move stop loss to entry 5 minutes ahead of the news and make a position risk-free. I always say to my students, that news trading is very complicated. Due to a high volatility, it is very hard to make wise decision during the news releases. The approach that I suggest will help you to avoid all that and trade the markets when they are calm. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
1
5 Key Trading Tips for BeginnersWelcome back everyone to another post! In this article we will be explaining 5 key pointers (tips) for new individuals entering the trading space. When it comes to trading first there is “ understanding ” before we begin the 5 keys steps. Let me assist you in understanding what will happen when you take on trading. Trading is a challenge. Not a video game challenge, not a math test challenge – a * Challenge * One that will break you. Trading will break you mentally, physically, spiritually and financially. It is an eye-opening journey. Trading will teach you a lot about yourself, and it will teach you a lot about discipline, patience and how you can analyze markets. I saw a quote somewhere, it said trading: “ Trading is the hardest way, to make easy money ” and they are right. You will be learning how to manage risk, control your emotions, understand your own decision-making patterns. These are all invaluable lessons for life, as well as trading. Sounds great! But then there are the losses, what you lose to gain all this. Trading isn’t something that you can learn overnight – all those posts you see about a young 17-year-old “ cracking the code ” is rubbish. Why? Because they haven’t learnt life lessons. You can make money fast, but you will lose it faster if you don’t know how to manage it. Trading will drain every bit of energy out of you. You will feel like you’re falling behind, you will eventually collapse at every loss and become frustrated. The market will test you; the market doesn’t give a damn about you – you accept the risk when you take on trading and since you’re the one making the trades, it’s you VS you. You’re testing yourself. You agree to test your patience, your confidence, your mindset. Doing so will make progress feel nonexistent or slow. Every day, and every trade you will question yourself, wondering if “trading” is even for you. Sometimes it will feel like you’re going in circles. You will continue to make mistakes repeatedly. It will become exhausting but remember – only experience and your own strengths will allow you to succeed. Only those who can endure the grind without giving up will make it. So, let’s start off the 5 key pointers that will prepare you. 1) Prioritize Risk Management Over Profits: Most newbies focus first on “ making money ” rather than safeguarding capital. The reality is that surviving in the market is way more important than winning every trade you see or come across. Key Points: Determine risk per trade: A common rule is risking no more than 1-2% of your trading account on a single trade. This way even a string of losses will not wipe you out. Always use stoploss: A defined maximum loss per trade enforces discipline and emotions to stay in check. Position sizing: Your sizing should be proportional to what you’re willing to lose on each trade. Bigger trades amplify the losses, but they also amplify the profits. Why it matters: Without strong risk management, even a high win-rate strategy can fail. Protecting capital ensures you’re still in the game when opportunities arise. 2) Develop a trading plan and stick to it . Random reactive trading is the best way to lose money. Build your plan overtime. Key points: Define your strategy: Building your strategy is the longest part, constant back testing and forward testing, refining and rebuilding. You’re not “switching” your strategy if you’re adding something small to it, you’re changing it if you eliminate the whole thing. Identify your form of trades, short, mid, long term or swing trades. Set clear rules: Don’t leave anything to chance, for example “I only enter trades if price closes above the 50ema and RSI is above 50” Journalling trades: Ensure to journal all your trades, “How do I journal” Easy. Record the time, date, symbol, pair, what model/system you used, images, your entry, tp and exit, why and for how long you’ll have it open. Why it matters: Consistency is a key, it pairs with discipline, psychology and lingers with risk management. Traders who follow a disciplined system perform better than those to trade off an impulsive feeling. Other words “Gamble” 3) Master one market and one system first: Beginners usually spread themselves too thin, trying forex, crypto, stocks and commodities all at once – Unfortunately for me I made this mistake at the start which made it very difficult! – Don’t do this. Stick to one market. Key points: Pick one market: Each market has its own rhythm, volatility, and liquidity. Teaching one thoroughly allows you to understand everything about it. Focus on one system: Instead of trying every new system from you tubes or forums, master one approach and refine it onwards e.g. – you trade FVGs, Win rate is 50% once you add Fibonacci it might be e.g. 65% Avoid information overload: Social media and trading forums are filled with conflicting advice, stick to your chosen approach and refine it. People say you need to have 12-hour trading days. If you do this, you will FAIL. You will grind yourself into the ground and face burnout making it very difficult to get back up again. Limit yourself to how much trading and trading study you do a day. Eg 10 back test trades, 3 real trades, 3 journaled trades, 1 hour of studying and researching the market. Without strong risk management, even a high win-rate strategy can fail. Protecting capital ensures you’re still in the game when opportunities arise. Why it matters Depth beats breadth early on. Mastering a single market and system will allow you to build confidence and improve your edge. 4) Understand the Psychology of trading. Trading isn’t just numbers: as mentioned in “understanding” it’s a test of emotional control, fear, greed and impatience. Key points: Emotions vs logic: ensure you recognize emotional reactions like FOMO (Fear of missing out) or revenge trading. Pause before reacting to a trade that will go against you. Set realistic expectations : Markets move slowly. Sometimes for months, don’t expect huge gains overnight. Just like DCA focus on compounding. Compound your knowledge and skill set. Mindset training: Techniques like medication and journaling as well as visualization can help reduce stress and maintain discipline. Why it matters: Even a diamond system can still fail if emotions drive your actions. Psychology often determines long term success, more than technical skill. 5) Prioritize learning. Then earning. Beginners fall into the trap of trading being a “get rich quick” scheme. But the real investment is learning how the market works. Key points: Paper and demo trade first: Practice on demo accounts before you use real money – you will be surprised how many times you will fail. It’s better to fail with simulation money than your McDonalds weekly wage. Review every trade: Analyze your losing trades, but also your winning trades. Find patterns and areas to improve. Continuously educate yourself: Read books about the mind, about habits, watch market analysis but critically, apply what you learn and don’t just collect information and not use it. Why it matters: Earnings are just the byproduct trading. The faster you learn and adapt, the sooner your profits will appear. Treat early losses as tuition. Not failure. Thank you all so much for reading. I hope this benefits all those who are starting off their trading journey. If you have any questions, let me know in the comments below!
Education
by King_BennyBag
66
Understanding Discipline in TradingWelcome back everyone to another post. In today’s article we will dive deeper into the 3 keys of Trading success! As attached below. Today we will be reviewing the Key “DISCIPLINE” Just like risk management and Psychology this is also a difficult skill to maintain. In the modern world it’s considered a skill now, because most of society doesn’t have any discipline in any field. Let’s get started. Definition: When it comes to Trading Discipline. Trading Discipline means one user has the mental ability ( strength ) to follow their system. Their Trading Plan, risk management and maintain their psychology regardless of what events happen. Trading Discipline separates profitable traders from the gamblers. (Below I have attached the article Trader or Gambler as it relates to this post, make sure to give it a read!) Discipline ensures that the user makes the right decisions based on strategy and logic instead of FOMO, ego and greed. It is not just about following rules though. Discipline relates to the outside world of cultivating habits, mindsets and self-control too. 1) Understanding Trading Discipline Firstly, you must truly grasp what it actually means. Most individual traders confuse it with stubbornness. They think it’s about holding on to trades or forcing a system. In reality, it’s only about consistency and self-control! Simple right? Example: Imagine, you have a system. A trading plan. It has the 1% rule where you don’t risk more than 1% of your account per trade. Understanding discipline means you must know why that rule is in place. It’s too protected your capital! Not breaking it after a few losses just to catch up. Real Life Analogy: A professional runner trains every day. They do it even when they are sad, tired, unhappy and unmotivated. This is discipline. Discipline drives long term results. Discipline is continuing it no matter what the current situation is. 2) Implementing Trading Discipline The process of implementation is nothing complicated. It’s only turning knowledge into action. Knowing about it won’t do anything, you must maintain the effort of consistently applying it to each step in your system. How to implement it: - Follow your plan: Before each trading day starts, read out your system and tell yourself you will follow it. Even if no set ups appear, you will still succeed because you followed your plan. - Set risk rules: Apply proper risk management and lot management so you don’t cave into fear. Apply the 1:3 Rule or 1:4 Rule. - JOURNAL your TRADES Damn it: Record every trade, your reasoning, and whether you actually followed your rules. Don’t just add a screen shot and nothing else. YOU won’t succeed if you don’t journal your trades properly. Example: A novice trader may plan to place an entry when price is at $50 and exit at $55 with a 2% risk per trade. Even if it dips to price $48, they hold to the stop loss accepting the loss instead of moving it and hoping it “recovers” Real Life analogy: Think of it as budgeting every day, or for a holiday, or your next maccas run. You set a weekly budget plan and stick to it. Even when tempted by special deals, sticking to your budget allows for long term financial health to take place. Just like risk management but with real life. 3) Maintaining Trading Discipline Discipline can’t act overnight, it’s the process of small steps working your way up to solid consistency over time. Even when feelings run high – discipline isn’t one time. It’s daily practice. Some strategies are: - Reviewing your previous trades daily or at the end of each week during a market close. Assess your wins and losses. - Build up emotional awareness, be aware of what fear, greed and overconfident emotions take place. - Reward yourself to the rules of your system, not just profitable outcomes. If you reward yourself for not trading in one day because not a single set up appeared, you were still successful because you didn’t “force” a set up and take a gamble. Example: A trader might experience 3 losses in the first hour of the day, even if they were all A++ set ups. Instead of revenge trading, he sticks to his plan, accepts the L and leaves the charts for the rest of the day to reset mentally and gain a win in another field, eg – Gym. Real-life analogy: By maintaining a healthy lifestyle, you must apply the same approach. You don’t stop exercising after a few days off. Discipline keeps you aligned even when your motivation and mental strength fades. 4) Adapting without breaking your Discipline Long story short, Markets move, Markets change, Markets can and WILL evolve. Traders must adapt. Not just allows their system to adapt, but their psychological mindset of discipline. Adapting can be confusing but it can be done by: - Don’t switch up new strategies, adjust your current system slightly then back test and forward test it on demo accounts. Eg Paper trading. - Update your trading system based on data and monthly results, not emotions. - Avoid making sudden changes right after losses. Example: Let’s say a forex strat no longer works due to low volume and volatility. A strict trader tests adjustments in their demo accounts, then incorporates them into the plan after they have received positive data from tests. Real-life analogy: A chef might change his recipe based on a specific ingredient availability but will not ignore the core cooking principles. It’s about adapting strategically, not impulsively. 5) Reinforcing Discipline Through mindset and daily life. Discipline in the trading field is just amplified by the discipline process outside of trading. It follows the exact same process. Daily habits and mindset directly impact one’s trading performance. To reinforce discipline, you can: - Maintain routines: Wake up at consistent times. Don’t wake up at 3:00am to “grind” if you do that, you’re stupid – you’ll burn yourself out and make the process harder. Plan your day and review goals. Eg do a brain dump every morning, write down or type out all ideas, thoughts and emotions and sort it out. - Practice mental training: People suggest doing personal journaling or meditation. Just go for a walk in the morning for 5 minutes. First thing in the morning, feel the fresh breeze, air, sunlight and nature. You simulate the mind and body in a natural way allowing for you to think clearly and train your mind. - Change your environment: surround yourself with work dogs, people who are strict on routines, self-improvement, self-development, individuals who don’t slack off. Example: Traders who can control their time well, exercise, eat healthy can maintain their stress in trading better than one who does not focus on outside habits. Real-life analogy: A school student who studies consistently every day and night rather than squishing it all in before exams perform better. Just like a trader who can maintain structured habits inside and outside of the market. Conclusion: Trading discipline is more than following rules, it’s a mindset and a lifestyle, it relates to the world outside of trading. Just like psychology, if you can’t master it outside, you won’t master it inside. It's about understanding your own weaknesses and adjusting the system to hold structured rules that will allow it to be more easily achievable for yourself. Remember, trading is not sunshine and rainbows. It’s about building a system and following it. It is the hardest way to make “ easy ” money. To find out what the other 2 keys are, review the 3 posts below where I explain the 3 keys to trading success, and go deeper into each of them!
Education
by King_BennyBag
47
Understanding Risk Management in TradingWelcome everyone back to Trading view article by King_BennyBag. In today’s post we will discuss how one can understand risk management in trading, and action it. We will start off by defining what risk management is. Risk management definition: Risk management is the process of identifying your current capital and assessing what you can afford to invest and lose. Never to see again. It involves identifying risks, assuming risks and ensuring you have a planned response for before, during and after a trade. CAPITAL IN RISK MANAGEMENT: In the past, I have stated that the goal of trading is to “PROTECT” your capital first. Once you know how to protect it, you can then multiply it and risk bit by bit. To take on proper risk management, you must decide what amount you will allocate to your investments or trades. For example – you risk only 1% of your capital on every trade. INVEST WHAT YOU CAN AFFORD TO LOSE: You should only do trading with the funds that you can AFFORD to lose, even then you must be cautious and apply the process above to the same capital. Doing this eliminates the emotional pressure factor and avoids decisions that are driven by Fear of Missing Out. (FOMO) Before Trading, set a clear number on what you can lose (NEVER to see again) without it affecting your life. IDENTIFYING RISKS: Relating to my previous posts, you must have a defined trading plan/edge. This plan must allow you to identify market volatility, news events, psychological mistakes, or technical invalidation points. These are risks that must be identified BEFORE trading. Knowing these will allow you to apply the right position size correctly. ASSUMING RISKS: When it comes to assuming risks, (most people don’t factor this in) it means to accept the potential scenario of you losing, before the trade is actioned. Your stop loss (always use a stoploss!) must be defined in a way that will not get yourself liquidated. You must calculate the right position size and learn to accept the outcome of the trade, and the mental effects it has on you. Doing this, the trades & the process becomes mechanical. No longer would it be emotional. If the loss is too big and you take it anyway. You should not be taking that trade as it will encourage revenge trading. PLANNING RESPONSES BEFORE, DURING and AFTER RISKS: With trading & risk management, you must have a pre-defined response for before, during and after trades. Your risks must be set. Before the trade, you should have an entry, SL & TP set. Along with an invalidation level (if price hits a specific point, you DON’T take the trade) and a maximum risk, eg “I’ll risk max $5,000 on this trade” During the trade, you must stick to the plan, don’t adjust your SL, or TP if it’s not part of your strategy. After the trade, if you win, or lose, find out why. Was it a valid trade, did it follow your edge? Or did you take a blind gamble. If you lose, figure out why, if you won, figure out how you could have scaled it upwards. Applying these 3 factors allows the cycle of discipline to develop and grow. It then removes randomized decision making. Risk management is a crucial Key in trading. Without it – you have already lost. I have attached the 3 KEYS to trading success below. Here I go in depth on what an individual must master to be successful in trading.
by King_BennyBag
56
Mastering Trading Psychology; Why Mindset is the toughest skillWelcome all to another post. In this article we will dive into the process of Mastering Trading Psychology. 1) What is Trading Psychology: Trading Psychology, it is your mindset. It is what you think, how you feel, what you need to do, what you want to do. It is a mixture of thoughts, future actions, emotions and past, present or future behaviors that influences your present self in making good, or bad decisions in the market. It can be considered a “strategy” but leans more to a “skill” It’s about what your thought process is when you are under pressure. Everybody, investor, gambler, trader, swing trader, day trader, scalper and holders, bring their own personalities & habits into the trading space. Whether it’s impatience, or patience, fear or greed, confidence or impulsiveness, or discipline. These mental sets determine how frequently you can follow your edge and how well you can manage wins, losses and uncertainty. Trading psychology is the framework of the mind. It works for you or goes against you. Both are under your control to choose from. A strong, stable, clear mind keeps you going. A weak, broken, cluttered mind keeps you falling. Ultimately, to master trading in psychology, you need to master yourself. 2) Pros and Cons of Trading Psychology: Pros: The pros/benefits of Trading Psychology, once it is mastered, is simple. You understand the game. You understand the process. You understand why you lose, why you win, why manipulation takes place and why you trade it. It is a skill that is developed through patience and perseverance along with constant practice. Like every other skill, it demands TIME, ENERGY, and constant Trial and Error of failures, wins, adjustments and so on. It isn’t something that can be taught or learned once, except for those who learn to recognize and leverage their mental strengths & weaknesses can truly master it over time. Cons: Trying to master Trading Psychology means you need to LOSE. You need to experience loss after loss after loss after loss. You need to fail many times. Every time you fail, you understand how to take control of your emotions, you learn where things went wrong, you learn how to build your edge. But it’s not always about losses, it’s about gains (wins )too. You need to maintain a stable status of emotions whether you win or lose. You can’t show anger, you can’t show excitement. Because both will come back at you with another loss. This means you cannot allow yourself to be ruled by any emotion, positive or negative. It can be a long uncomfortable process that can take years to master. Sometimes even decades. What makes it more challenging is that trading psychology does not exist in isolation. Psychology outside of trading must be mastered too. How you think, act, live, every single day. - We will explore this topic further down the article. 3) Why it is important in the trading space: Psychology is an essential topic that must be taught and considered. Because without it, you will not succeed. Without self-control, or a strong mind, trading will become nothing more than just gambling like a slot machine. It's a skill that many overlook. With it, you are aware of what works and what fails. It allows you to step back and re-assess the next trade instead of forcing it. The end goal is to make money, but to even do that you first have to protect your capital. Only take A++ Set ups (High confluence/probability set ups) and avoid any traps involving emotions like: Fear of Missing Out (FOMO) or the “I just need 1 good pump” (One Big Win) Mindset. With it being in the trading space, it gives users the ability to pause, re-assess and question your decisions on the trade you are about to take. It helps to mention, “Is this an A++ Setup?” “Does it align with my strat, my edge, my goals?” If it does not and you decide not to take it, you save yourself a loss of capital and have made a win of improved trading psychology. It assists you in distinguishing the difference between good/bad trades. Not on the result but the process. It keeps you grounded. 4) How to Master Trading Psychology: Just because it is difficult & challenging, does not mean it is impossible. First step – building discipline through consistency and structure. Ensure you have a clear trading plan set up. One that defines your edge or can be adjusted to find your edge. Commit to following it no matter what the market is doing. Pumping, Dumping or consolidating. Consistency in action will build mental strength. Secondly, you must work on emotional control. Understand and be focused on how you feel when you experience fear, greed, or overconfidence. These emotions push you off your plan if you let them take over. Each time this happens, you must log it. That way you can accumulate data and self-awareness. With that, everyone says this. BackTEST or at least forward test you strategies extensively. Keep a detailed journal that has a good list of questions that you must answer after each trade. Be brutally honest with yourself. Don’t hide losses because you have already hit 10 in a row. Log them all down. This way you will then be able to recognize emotional triggers and recurring patterns appearing that are holding you back. Being able to recognise them is the first step to controlling them. OBSERVE YOURSELF. While this takes place, you must begin to build trust in your system (strategy) and in yourself. You will see how your actions and choices line up with your plan. That way your confidence will shift from emotions to process driven. Last one is patience. The hardest yet most critical psychological skills. Take ONLY A++ set ups, for example a set up that has 4 confluences or 5 lining up. Doing this trains your mind into avoiding impulsive behavior or falling into FOMO based environments. To see another deep dive into mastering trading psychology, review the post below to determine which mindset you currently have. Are you a trader? Or are you a gambler. 5) How Psychology in our daily lives affects our ability to trade: Trading Psychology is an interesting concept, but so is psychology in general. The human mind is weak and for it to be strengthened, it takes time & self-awareness. A weak mind won’t get you anywhere. Psychology is not a simple one sentence definition. It can mean many things, or many situations. It is a critical role in our life, it shapes our emotions, reactions and choices. It can lead us to self-sabotage or it can lead us to success. If you cannot control your psychology outside of trading, you won’t be able to control it inside of trading. By this I mean daily emotions. For example: Imagine an individual experiences a breakout, they are sad, they are angry, they are emotionally drained and hurt. Then they go off to trade. They will LOSE. This is because when the mind is in an uncomfortable state, it seeks a dopamine hit, and when they associate a win in trading = dopamine hit, they naturally turn towards trading. They want to feel that dopamine hit, so they can feel good again. But then they are no longer following their edge. This destroys discipline, objectivity and focus. This is not just tied to relationship breakups, but everything in our day to day lives. If you experience a bad day at work, failed an exam, argued with family, or facing a stressful time. If you bring unresolved emotions, thoughts and feelings into the trading space, trading just becomes a big emotional outlet. Psychology appears in every action we do, EVERY day. “I need to drink water” I will get water. I see soda, “I now want soda.” The mind now as switched completely from the main objective “Water” to soda. If you cannot control your mind to stick to what is right, then you will not master trading psychology. The better control you have over yourself, & your mind, the more consistent and rational your trading decisions will become. KEY POINTS: 1) What is Trading Psychology: - Trading psychology is the foundation of every mental action. You must master yourself before mastering the market. 2) Pros & Cons of Trading Psychology: - Trading Psychology cannot be mastered without failure, each loss has a lesson, that lesson is based around strengthening your mind with emotional control. 3) Why it is important in the Trading Space: - Without a strong mind, trading turns into gambling, you must become disciplined and maintain self-control. This splits pros from the gamblers. 4) How to Master Trading Psychology: - Right to the point: Consistency & discipline, emotional awareness, journaling, and most importantly, being patient. These are core aspects of mastering your mindset and obtaining the right psychological discipline. 5) How daily psychology affects trading: - The way you manage your everyday emotions outside of trading mirrors the way you will end up reacting to the markets. Control your life, then control your trades. Psychology is a great skill, but it’s only part of 3 keys that will lead you to success. Find out the 2 other keys below:   Thank you all so much for reading - I hope this post brings a lesson into everyone's trading journey. I am aware that this is a big long article, however Trading psychology goes even deeper - I have summarized my knowledge and research that I have obtained over time and summarized it. Please let me know if any of you would like an a post on a specific topic. I'd love to provide more for the community!
Education
by King_BennyBag
75
Fibonacci Retracement - Quick Guide in 5 StepsTrading the Fibonacci Retracement - Quick Guide in 5 Steps. What is the Fibonacci tool? The Fib Retracement Tool is a tool used widely across many charts. From crypto to stocks. It assists in identifying the Golden Pocket, along with any potential Support and Resistance zones based on the sequence in Fibonacci. Investors & Traders draw it from a previous high/low or low/high. On a chart, each key level shows where price might pause or reverse during a pull back, before it continues the trend. In this guide you will learn how to use the Fibonacci tool in 5 steps. 1. Configurations Open up your Fib Retracement Tool's settings, apply the below configurations. (You can change the color to your choice) 2. Identify High/Low's Identify, recent highs and lows of your current chart/pair. 3. Applying Fib Retracement Select your Fib Retracement tool. Place it on your chart starting from the swing low to the swing high. 4. Once completed Highlight the Golden Pocket Field in the zone (0.65-0.618) 5. Review Entry Price will eventually make it's way back down to the Golden Pocket to retest and reverse. SL Placement would be on a previous low or key level, TP placement would be at a previous high or key level. Bonus: See the real time example below: Please like, comment and follow if this guide was useful to you. If you have any requests on analysis or tutorial requests, let me know and I'll be happy to make one!
FX:NAS100Education
by King_BennyBag
104
How to Set a Stop Loss in Price Action Trading Forex Explained Wrong stop loss is one of the main reasons why newbie traders lose money. I will share with you a proven stop loss strategy for price action trading Forex. I will explain how to identify a safe stop loss level for any chart part, trend line and a breakout that you trade. Learn how to set a safe stop loss easily on any time frame and no matter whether you are day trading, scalping or swing trading. To correctly put a stop loss for trading price action in forex market, first, let's discuss 2 major types of price action patterns that you should know. Trend line based patterns The first type of patterns is called trend line based patterns. In this category, we put all the patterns where trend lines are used as entries or confirmations. Here is the list of these patterns: Rising/falling parallel channels, Rising/falling wedges, Rising/falling expanding wedges/channels. For example, in a rising parallel channel, its support is a strong vertical structure. It provides a safe place to buy the market from. Alternatively, its breakout will provide a strong confirmation to sell. Horizontal neckline based patterns The second type of patterns is called neckline based patterns. In this category, we include all chart patterns that lie on a horizontal neckline. A signal that we rely on to trade these patterns is a breakout of their necklines. Here is the list of these patterns: Double top/bottom, Head and shoulders and inverted one, Ascending/descending triangle, Cup and handle and inverted one. Here is how we set a stop loss in trend line based patterns. If we buy the market from a support line of a wedge or a channel, expecting a growth, we will need to the last bearish movement from the high of the pattern to the point where it touches a support line - our entry. Our safe stop loss will be 1.272 fibonacci extension (from its high to low) of this movement. If we sell the market after a breakout of a support line of a wedge or a channel, we will take the last bearish movement from the high of the pattern to the low of a breakout candle. Our safe stop loss will be 1.272 fibonacci extension (from its low to high) of this movement. Look how it works in practice: If we sell the market from a resistance line of a wedge or a channel, we will take the last bullish movement from the low of the pattern to the point where it touched a resistance line. Our safe stop loss will be 1.272 fibonacii extension (from its low to high) of this movement. Look how it works in practice: Here is a safe stop loss for selling USDJPY forex pair from a resistance of a falling wedge. If we buy a bullish breakout of a resistance line of a wedge or a channel, we will take a bullish movement from the low of the pattern to a high of the breakout candle. Our safe stop loss will be 1.272 fibonacci extension (from its high to its low) of this movement. Here is how easily we can set a stop loss, using this strategy, buying a breakout of a resistance line of a falling channel on NZDUSD forex pair. And here is how we set stop loss for neckline based patterns. If we see a breakout of a neckline of a bearish pattern, and we want to sell, we will need to find a pattern range: a low of the neckline of the pattern and highest high of the pattern. Based on that, we will draw fibonacci extension (from its lows to high). Our safe stop loss will be 1.272 extension. That is how we put a stop loss, using this method on EURUSD, trading head & shoulders. If we buy a breakout of a neckline of a bullish pattern, our safe stop loss will be based on 1.272 extention (from high to low) of the range of the pattern - the highest high of the neckline and the lowest low of the pattern. That is how a safe stop loss for a cup & handle pattern on EURUSD looks. I drew fib.extension from the neckline's high to pattern's low. This simple method will help you to always put a safe stop loss. Integrate that in your trading plan and avoid losses, trading price action. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Education
by VasilyTrader
3
Learn the Significance of Psychological Levels and Round Numbers When traders analyze the key levels, quite often then neglect the psychological levels in trading. In this article, we will discuss what are the psychological levels and how to identify them. What is Psychological Level? Let's start with the definition. Psychological level is a price level on a chart that has a strong significance for the market participants due to the round numbers. By the round numbers, I imply the whole numbers that are multiples of 5, 10, 100, etc. These levels act as strong supports and resistances and the points of interest of the market participants. Take a look at 2 important psychological levels on EURGBP: 0.95 and 0.82. As the market approached these levels, we saw a strong reaction of the price to them. Why Psychological Levels Work? And here is why the psychological levels work: Research in behavioral finance has shown that individuals exhibit a tendency to anchor their judgments and decisions to round numbers. Such a decision-making can be attributed to the cognitive biases. Quite typically, these levels act as reference points for the market participants for setting entry, exit points and placing stop-loss orders. Bad Psychological Levels? However, one should remember that not all price levels based on round numbers are significant. When one is looking for an important psychological level, he should take into consideration the historical price action. Here are the round number based levels that I identified on AUDUSD on a weekly time frame. After all such levels are underlined, check the historical price action and make sure that the market reacted to that at least one time in the recent past. With the circles, I highlighted the recent reaction to the underlined levels. Such ones we will keep on the chart, while others should be removed. Here are the psychological levels and proved their significance with a recent historical price action. From these levels, we will look for trading opportunities. Market Reaction to Psychological Levels Please, note that psychological levels may trigger various reactions of the market participants. For instance, a price approaching a round number may trigger feelings of greed, leading to increased selling pressure as traders seek to lock in profits. Alternatively, a breakout above/below a psychological level can trigger buying/selling activity as traders anticipate further price momentum. For that reason, it is very important to monitor the price action around such levels and look for confirmations. Learn to identify psychological levels. They are very powerful and for you, they can become a source of tremendous profits. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
6
Best Lot Size for Gold Trading (XAUUSD) Explained If you trade Gold with fix lot, I prepared for you a simple manual how to calculate the best lot size for your XAUUSD trading account. Step 1 Find at least the last 10 trades that you took on Gold. Step 2 Measure stop losses of all these trades in pips Step 3 Find the trade with the biggest stop loss In our example, the biggest stop loss is 680 pips Step 4 Open position size calculator for XAUUSD Step 5 Input your account size, 1,5% as the risk ratio. In "stop loss in pips" field, write down the pip value of your biggest stop loss - 680 pips in our example. Press, calculate. For our example, the best lot size for Gold will be 0.22. The idea is that your maximum loss should not exceed 1,5% of your account balance, while the average loss will be around 1%. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
1