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10 Things I Wish I Knew When Getting Started With TradingHere are ten key points I wish I knew 11 years ago 1. Position Sizing: Trade with suitable position sizes to minimize the emotional impact on decision-making. Ensure your trades are neither too small nor too large, balancing the potential for profit and the ability to make rational decisions. 2. Avoid FOMO: Don't trade based on the fear of missing out. Make informed decisions by analyzing the market and potential trades, rather than being swayed by others' excitement or panic. 3. When to Exit a Trade: Focus on trading based on technical analysis, not your profit and loss. Exit a trade when the conditions you entered the trade no longer apply. Consider using mental stops over hard stops, but only if you have enough experience. 4. Journal: Keep a detailed record of your trades to analyze and improve your performance. Track your wins, losses, and the specific conditions of each trade to identify areas that require improvement. 5. Buy High, Sell Higher: Embrace the concept of buying into strong trends for greater success. While "buy low, sell high" is a common mantra, buying into a growing trend can be a more effective strategy. 6. Different Types of Trades: Understand and become comfortable with various trade types, such as scalping, momentum trading, technical-based trades, and options trading. Each type requires different strategies and scanning techniques. 7. Resources: Choose educational resources wisely. Avoid get-rich-quick schemes and focus on informative materials that teach essential concepts like candlesticks, indicators, options, and scanner settings. Look for resources that acknowledge the difficulty of trading and offer well-rounded, sustainable strategies. 8. Stop Predicting Tops and Bottoms: Focus on following the charts and resist the urge to predict tops and bottoms. Counter-trend trading is a common reason new traders lose money. 9. You Are Not an Economist: Trade based on current market conditions, not long-term predictions. Avoid developing a market bias that could negatively impact your trades, even your day trades. 10. Don't Trade What You Don't Know: Gain sufficient knowledge before trading a particular instrument. Jumping into a trade without understanding the underlying mechanisms can lead to costly mistakes. Educate yourself before diving into new trading instruments. Yours,
BITSTAMP:BTCUSDEducation
by VectorAlgo
6
GOLD ANALYTICS Hello all i hope you've all had a wonderful trading period today, good profit encounters, blues came in strong.Hope you did enjoy... I was not able to update my previous idea coz the market was so nice for me today, today was better than yestarday,GOOD PROFITS,my weekend will be awesome. For those who managed to secure profits Congrats!for those who got their accounts ripped off i'm sorry. I'd like to share something really and seriously important with you as traders. MY SHORT STORY! I have had my ups and downs as well in trading, I remember i started trading with just $100 and it was lost within 3 days my account equity had only $0.63 left, it took me 1 full month to decide to get back to trading and it was worse coz i really wanted to make profits so i deposited another $100 and lost it again,only this time round i had some extra cash so i went ahead and deposited $150 only to notice my troubles were not over yet,so it was as well lost within à week,I never gave up so i deposited another $100 and yes i did make profits, i did get $80 extra and thought here is the green light, but sadly my account was cleared. I decided to get help so i went on Telegram had a chat with someone i never knew, he proved to be good in trading, only thing is i have to be an investor, so i invest then i share thé profits 50% with him thought it was a good deal,so he requested me to invest $300 and not a penny less, i did Thé deposit,gave him my account details and let thé guy trade for me, at first he started well he made $309 in just one day & i knew this was the guy, so we continued doing business, so my account was reading 609 that was really impressing me the second day nothing worked he lost half the profits he made,I became worried and had to ask him, but he replied with too much confidence and said "i'll tripple the amount just wait, I said okay let him do his thing and since i saw how he could do it instantly, so i knew he was going to do it, but then the unexpected happen, i receive a margin call mail, only to discover the guy was still trading when i was actually sleeping, my equity was now less than $35. Asked the guy the answer was he did a mistake and he insisted i deposit another $300 and promised he will recover all my losses, the guy had a telegran Channel so when i looked into it could see the guy making good profits for others, so I assumed his mistake and deposited more only this time round my equity didn't last even an hour, i was furious and changed my account credentials and stopped the madness. Stayed out of the market for à year, i had nothing to do with trading just leading my life as usual with a. - $1150 going everywhere with me. Then i came across a friend from the same group i was in after the year, told him of my trading journey and my friend was like " Man you need to learn what your doing before doing it " i asked him many questions but the main question was "Where should i start ? So he shared a pdf with me told me read this and understand, do not trade. So i strated reading the book about candle pattern by the name "TRADING BIBLE" this book gave me ideaz of the patterns mainly but that wasn't enough after a while he sent me another book from an online trading course that he was taking, I read the book and understood it. Décided to come revenge the market when iw as feeling confident, $300 deposit which i then lost within 2 weeks,which now was summing up my négative to -$1450, was so furious and said enough no more trading for me at all for Thé rest of my life. Talked to my friend about it and he seconded my idea, so that was it " NO MORE TRADING FOR ME!" then at least 5 months later he showed up and told me "Brother don't fight the market instead enjoy it" he gave me $100 and told me to think wisely of what i'll do with it. So i sat down wanting to deposit it and start trading again but something amazing happened instead, a link was shared with me clicked into the link and saw an online trading course which required just $150 so i said i'd rather learn before i start trading, I paid for the course but it wasnt that helpful coz the guy was just sending signals when i wasnt active in trading he also shared some patterns, a strategy which had already come across, so i had to quit and do it my way there and then i gave myself time to learn, did research got the info i needed,took my time and understood the risks, read different ideas from a lot of people, researched on youtube, google search and telegram then i came across someone else now he was my TUTOR and he showed me the way remember he didnt walk with me just pointed at the direction and about how i reach there was upto me. The guy did the most amazing job whatever i've given him is still not enough i mean nothing is enough to repay him, so after almost 8 months i was back in trading only this time round it was a new version of me, started striking the market returned my loses and got even more up untill now! What I learnt through the journey is failures lead to success, i also learnt every finish line is the begining of à new race and lastly think before you talk. NOTE : YOU WANT TO MAKE PROFITS IN TRADING THEN YOUR EQUITY MATTERS SO MUCH, so the higher your equity the better your stand, at least start with $500 & consider your Highest lot size not to exceed 0.15, secondly Consider your brokerage spreads before joining any brokers,the lower the spreads the better and lastly learn from the best. After at least 2 years of trading stress It's been 3 wonderful blue trading years for me and i see being a full time trader by end of this year! LEARN!
OANDA:XAUUSDLong
by Ahmedshebe
Learning Fibonacci Price Theory - MUST WATCHEven though I got cut off after about 25 minutes, I'm sharing this with all of you to teach you how to use one fo the most important PRICE STRUCTURE features for any chart Fibonacci Price Theory. The consensus of all TA is that PRICE tells us everything. Fibonacci Price Theory is the REAL DEAL. Use it on a 1 minute, 5 minute, 60 minute, or Daily - ANY TIME-FRAME Use it in conjunction with other TA/Indicators. Use it with Elliot Wave analysis. USE IT. My experience is that all indicators/theories/strategies have strengths/weaknesses. If you are not aware of them (yet) - pay attention. Follow my research and I'll continue to try to share tidbits of advanced TA/Fibonacci with you. I created this to help my followers/friends learn one of the most critical price structure components of my own research. I see all price charts in the manner I've illustrated in this video. After more than 15 years of applied Fibonacci Price Theory/Structure - I can't help but NOT see price as "Fibonacci Fractals". Hope this helps.
NASDAQ:NVDAEducation
by BradMatheny
Bitcoin for the "W"Whats Up guys? I Posted an $ETH analysis a few days ago showing you why the charts are telling us that another move to $2000+ is in the cards, before the reality of a recession hits, and new lows under 1k are put in I posted it below if you want to check it out. Though its in a different Pattern than $ETH, I will show you why Bitcoin is also screaming that another pump is around the corner. During the crypto rally in July/August, Bitcoin made a choppy move up Vs. Eth's more "straight up" impulsive move. After a few weeks of downside, Bitcoin is once again sitting on that July Bottom. If you look closely, Almost every bottom pattern in financial markets resemble (variation on the theme) one of two Patterns. 1. Inverse Head and shoulders. 2. "W" Pattern. I believe we're looking at an almost complete W pattern on the 4H and Daily Time frames, in which the next move up would complete the second "leg" of the W. Seeing what you believe is A strong corrective pattern on the higher time frames is one thing, but I personally don't have conviction in a trade unless there is also confluence on the lower time frames as well. Well, Bitcoin is showing us exactly that. Since August 28th, Bitcoin has presented choppy behavior (also a strong sign of a potential bottom) while holding a 6 day low. Again, on top of the strong bottom structure (support) from July. On top of that, we re even seeing it chop down over the last 48 hours into those 6 day lows, for even more confluence. Its hard to call how high or low a particular move will go, but I think $25,000 is a conservative target for this next leg up. A few daily closes below $17,000 would invalidate the pattern and therefore the trade for me In conclusion, BTC is showing us that the downside in august was just a correction in a bear market rally, and that one more move up to $25,000 is likely before a final collapse. Ultimately, I think this bear market lasts well into next year. But there will always be Bear market Rallies. Cheers!
COINBASE:BTCUSDLong
by Brenvest
Commence The PumpHello Friends Since August 14th Eth has been moving down slowly in what I believe is a beautiful flag (or corrective channel pattern as I like to call it). These corrective channels show up across every asset on Higher and lower time frames. In fact, almost every multi year bear market correction resembles these channel like structures. From Bitcoin during the 2017 Bear Market, to AMZN during the Dot com crash, this pattern has distinct characteristics such as: 1. A quick move down with no consolidation or definitive peak formed. (Notice how on August 14th Eth Dropped after only a day and a half of consolidation). This isnt always the case in every pattern. 2. Choppy behavior 3.Usually includes one or multiple rallies between moves down (People call these bear market Rallies) 4.Usually consists of 2-4 lows formed in the channel before reversing and breaking to the upside. Now back to this current Eth corrective channel on the lower time frames that we're looking at. I believe we're at the tail end of one of these corrections I described above and 1 of 2 things happen in the near future; 1.The 2 fresh lows the channel has put in are adequate, the pattern is complete, and Eth gets sent back above $2,000. 2.Eth decides "Hey lets give these mfers some more pain" and puts in a third low in the channel around $1200-$1300, before completing the pattern and sending us back above 2k. The only reason I have so much conviction in this outcome of $2000+ eth again soon, is because I've seen these corrective channel patterns play out hundreds of times in Crypto, stocks, forex, medals, and even NFT charts...Over several years. But What would invalidate this pattern you ask? A Straight spike down from here to around $1000 would destroy the channel and invalidate the trade for me. But I would be shocked if that happened. Cheers guys, Hope this helped.
KRAKEN:ETHUSDLong
by Brenvest
10
WHAT IS BULL TRAP?📊 ⚠️A bull trap is a false signal about an uptrend in stocks, indices or other stock assets, in which, after an impressive rally, the rate reverses and breaks through the previous support level. Such a change seems to "catch" traders or investors who acted on a buy signal, and brings losses on long positions. A bull trap can also be called a "saw" trend. The opposite of a bull trap is a "bear trap", it occurs when sellers cannot push the price below the resistance level. ❗️A bull trap is a reversal of the exchange rate, due to which market participants hoping for an opposite price movement close positions with unexpected losses. ❗️Bull traps occur when buyers fail to continue the rally that has broken through the resistance level. ❗️Traders and investors may fall into bull traps less often if they analyze the probability of further growth after the breakdown using technical indicators and/or divergence patterns. ✅The essence of the concept ⏺A bull trap occurs when a trader or investor buys an asset that has broken through the resistance level – a generally accepted strategy based on technical analysis. Although there is often a rapid growth of the exchange rate after the breakdown, the price can quickly change direction. This situation is called a "bull trap" – traders and investors who bought the breakdown are "caught" in a trading "trap". ⏺It can be avoided if you observe additional signs of a level breakdown. In particular, the growth of above-average trading volume and the appearance of bullish candles after the breakdown can confirm that the price is likely to continue to rise. And a breakdown in which the volume decreases, or candlesticks with a small body – for example, the doji star – may be signs of a bull trap. ⏺From the point of view of psychology, bull traps occur when bulls are unable to continue the rally after the breakdown of the level, this may be due to the lack of momentum and/or profit taking. Bears, if they see discrepancies, may seize the opportunity to sell the asset and thereby push prices below the resistance level, which may trigger stop-loss orders. ⏺The best way to deal with bull traps is to recognize warning signs in advance, such as a low breakdown volume, and exit the deal as soon as possible. Stop losses, especially if the market is moving fast, can help in this and prevent you from making a decision under the influence of emotions. ❤️ Please, support our work with like & comment! ❤️
OANDA:XAUUSDEducation
by UnitedSignals
8
Triangle Patterns 📐 ❗️The triangle is one of the most common and reliable figures of graphical analysis. This is a strong pattern that can bring you a lot of points of profit if you approach its trading correctly. ✅What is a triangle pattern? ⚠️A triangle pattern is a pattern formed on a price chart. It is usually identified when the tops and bottoms of the price move towards each other, like the sides of a triangle. When the upper and lower levels of the triangle interact with the price, traders expect a possible breakdown. Thus, many breakout traders use triangle formations to find entry points. ✅Symmetrical Triangle A universal pattern can act both as a trend continuation figure and as a reversal figure. A symmetrical "Triangle" is formed by two converging support and resistance lines. It turns out such a picture - "bears" are gradually pushing the price down from the resistance line, "bulls" are pushing quotes up from the support line. As a result, one of them turns out to be stronger and the price breaks through the border of the symmetrical "Triangle", simultaneously collecting protective orders (Stop Loss / Stop) and pending orders. The position should be opened in the direction of the breakdown, after the price closes outside the boundaries of the symmetrical "Triangle". If the upper limit of the "Triangle" is broken, we buy, limit losses — we put a Stop Loss for the nearest minimum of the "Triangle", the benchmark for working out is the value of H (in points) — the base of the "Triangle" (the largest wave in the "Triangle"). If the lower limit of the "Triangle" is broken, we sell, limit losses — We put a stop for the nearest maximum of the "Triangle", the benchmark for working out is the value of H (in points) — the base of the "Triangle" (the largest wave in the "Triangle"). ✅Ascending Triangle The pattern is a continuation of the upward trend, but sometimes it is possible to work in the opposite direction. An ascending "Triangle" has been formed between the horizontal resistance level and the ascending support line. In the course of the upward trend, the "bulls" rest against a strong resistance level, which they cannot immediately overcome. From this level there are pullbacks downwards — waves of an ascending "Triangle". But gradually the pullbacks become smaller and at some point the bulls, having bought all the bearish sell orders, break through this level up, collecting Stops and pending buy orders. After breaking through the upper boundary of the ascending "Triangle", purchases are recommended, the Stop is placed below the nearest minimum of the "Triangle", working out is the value of the base of the "Triangle" H (in points), this is the largest wave of the "Triangle". ✅Descending Triangle The pattern is a continuation of the downward trend, but sometimes it is possible to work in the opposite direction. A descending "Triangle" is formed by two lines — a descending resistance line and a horizontal support level. During the downtrend, the "bears" stumble upon a strong support level, which they cannot break through immediately. This is followed by several pullbacks up from this level, during which a descending "Triangle" is formed. In the end, the "bears" sweep away all orders for the purchase of "bulls" and break through the support level down, collecting buyers' stops and pending sales orders. After breaking through the lower boundary of the descending "Triangle", sales are recommended, the Stop is placed above the nearest maximum of the "Triangle", the value of working out H is the size of the base of the "Triangle" — its largest wave. ❤️ Please, support our work with like & comment! ❤️
OANDA:XAUUSDEducation
by UnitedSignals
9
WHAT TYPE OF TRADER ARE YOU?👨‍🎓👩‍🎓 ⚠️Who is a Trader? ✅A trader is a trader, a speculator, acting on his own initiative and seeking to profit directly from the trading process. This usually means trading securities (stocks, bonds, futures, options) on the stock exchange. ✅Traders are also called traders in the foreign exchange (including forex) and commodity markets (for example, "oil trader"). Trading is carried out by a trader on both the exchange and over-the-counter markets. ✅The trader should not be confused with other traders who carry out transactions at the request of clients or in their interests (dealer, broker, distributor). ❗️What kind of traders are there? Types of traders: 1️⃣Scalper Scalping is a trading strategy that involves making a large number of transactions within a day. Scalpers make at least 10 trades a day. With an active market, professionals can make up to 100 trades. Scalpers play on small price fluctuations to get a small profit from each transaction. Often, a transaction can last less than a minute. Scalping can be considered a profession. The scalper's workplace is his scalper terminal. Here he spends a full working day. Scalpers analyze the market by the glass, the tape of transactions and clusters, less often by charts. As a rule, scalpers do not use technical analysis indicators for analysis. The main working timeframes of the scalper are from 1m to 5m. Many traders start with scalping. In theory, a scalper can seriously disperse a small deposit within a short time. Also, making a large number of transactions allows you to “fill your hand" faster. However, scalping requires a trader to be stress-resistant, disciplined and willing to learn from losses. 2️⃣Day Trader Day traders also trade within the day. They do not transfer transactions “through the night”, closing positions during the day or trading session (depending on the type of market, stock or cryptocurrency). As a rule, day traders make 5-10 trades a day. The market is analyzed through a glass, a tape of transactions, clusters and charts. Sometimes technical indicators are used. The working timeframes of day traders are from 5m to 1h. This type of trading is less demanding on the trader than scalping. But it also requires stress tolerance and willingness to spend your day at the computer. It will not be possible to fully trade inside the day via the phone. For successful trading, scalpers and day traders must adhere to strict risk management. They set the daily drawdown and determine the drawdown for each trade. As soon as a trader reaches the daily drawdown level, trading for the current day ends for him. 3️⃣Swing Trader Swing trading is based on capturing one major movement in the market (one "swing" of the price). Its essence is to exit the transaction before the price goes back to correction. Swing trading is different from day trading, which usually involves more frequent short positions and more active trading. It is also different from long-term investments and buy-and-hold strategies that take place over a long period of time. Swing trading refers to medium-term trades ranging from a few days to weeks. This technique got its name because of the determination of the maximum and minimum of each oscillation. Its essence consists in opening medium-term positions on the asset, which are held from several days to weeks. Choosing the time to hold a position in the market at the bottom or height of each medium—term trend is what distinguishes a swing trader from a day trader. Swing traders conduct extensive market research, be it fundamental or technical analysis. Anyone can become a swing trader. Start by understanding the definition of what swing trading means, learn all the basics. and then start researching whether swing trading is right for you. What type of trading do you prefer? ❤️ Please, support our work with like & comment! ❤️
OANDA:XAUUSDEducation
by UnitedSignals
14
What is LEVERAGE in Forex💰 ❗️Leverage is a brokerage service that is a loan in the form of cash or securities provided to a trader to secure a transaction. The loan amount may exceed the amount of the trader's deposit by 10, 20, 100 or more times. By analogy with the law of physics, leverage works as a lever, enabling a trader to make deals that he would not be able to with his own funds alone. The maximum leverage on the exchange does not depend on the trader's desire and the broker's capabilities. It is calculated based on the risks established by the clearing center for each asset. For example, if the risk amount for any stock is set at 10%, a trader will be able to trade it with a leverage of 1 to 10. If the risk value is 30%, then it is impossible to get a leverage greater than 1 to 3. Making transactions on the exchange using leverage is called margin trading. It is the conclusion of purchase and sale transactions using borrowed funds issued against the security of a certain amount, which is called margin. In other words, in order to use the leverage service, you must have a minimum amount on the deposit (set by the broker), which will be the collateral. The amount of leverage in trading is the ratio of the amount of the trader's own funds to the amount of the transaction (1:100, 1:1000). For example, if this indicator is 1:500, it means that the broker provides a loan amount 499 times higher than the investor's deposit. At the same time, one part of the investor's funds and 499 borrowed funds are used in the transaction. The word "credit" scares many away, but in fact there is nothing terrible in this concept. Leverage can indeed be called a loan in the usual sense of the word, but the interest on the use of borrowed assets is significantly less than the usual bank. When transferring the positions of the transaction to the next day, a commission is withdrawn from the account in the amount of the difference in the interest rates on the loan and the deposit - the so-called swap, which can be considered an analogue of the fee for using leverage. The loss on the transaction is deducted from the trader's own funds, if as a result their volume becomes less than the permissible minimum margin value, the broker will send a notification that the money is running out and the bidder needs to either replenish the account or close the position. Such an alert is called a Margin Call. If no action is taken, the transaction will be closed automatically (Stop out). ✅How to trade with leverage Leverage is a financial instrument that, with a competent approach, allows you to make large transactions and get a good profit even on small deposits. In order to use this tool correctly, follow the simple recommendations: Focus on your own deposit. Calculate the risks based on the available amount. It is better to use a small amount of borrowed funds, which will not allow you to lose all the money at once. With any leverage size, never trade for the entire deposit. Ideally, one operation should account for 1-2% of the deposit amount. Be sure to set Stop loss levels, this will help reduce risks. ⚠️IMPORTANT! Stop loss is an order that fixes the financial result when the price of the selected instrument reaches a certain level. The Stop loss parameter can be set before opening a position or after. But there is one important point: in a sale transaction, the specified level should be no less than the current price on the market, and in a purchase transaction - no more. ❤️ Please, support our work with like & comment! ❤️
OANDA:XAUUSDEducation
by UnitedSignals
9