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XAUUSD: The Downfall or Ascent? In the early hours of Monday's Asian trading, gold prices (XAU/USD) surged to unprecedented heights, flirting with £2,250 per troy ounce. This surge was driven by a blend of factors: prospects of a Federal Reserve (Fed) policy shift in the latter part of 2024, simmering tensions in the Middle East, and upbeat sentiments surrounding China's economic rebound. Market sentiment leans towards further monetary easing by major central banks, with a notable 68.5% probability of a quarter-point rate cut by the US Fed by June, as per the CME Fedwatch Tool. Fed Chair Jerome Powell's remarks on Friday about US inflation data being within expectations solidified the Fed's stance on potential interest rate adjustments for the year, favouring lower rates which typically buoy gold prices, given its non-interest-bearing nature. Recent economic data, while generally aligned with expectations, has added to market jitters. Geopolitical tensions escalated with Hezbollah's claim of responsibility for attacks on Israeli troops, potentially enhancing gold's status as a safe-haven asset. Furthermore, positive Chinese Purchasing Managers Index (PMI) data for March contributed to gold's momentum, signalling robust economic growth in China. Looking forward, attention is fixed on China's Caixin Manufacturing PMI for March and the US ISM Manufacturing PMI. A stronger-than-anticipated US PMI could fortify the US Dollar (USD) and impose a ceiling on gold's immediate growth potential.
EIGHTCAP:XAUUSDShort
by OfficialKieranTrewick
Sunday Dec. 3 AUDUSD AnalysisKeeping everything short Aussie Dollar is at two levels of resistance on minor structure. On major structure price is at a level of resistance, The Red Monthly TL. I am watching two levels above and below price. The above level is the High made on Wednesday. The below level is an 1H Imbalance. I have alerts on these two areas with a break above/below followed by a retest of that zone/price that would give me more of a clearer indication of where price would like to go.
by mindexchangME
Aussie Dollar 11.28.23OANDA:AUDUSD The overall trend for Aussie Dollar has been bullish. There has yet to be a break in structure to tell us the Aussie Dollar is going to begin to sell. However with Price making its way to the Red Weekly downtrend, I am expecting for price to begin to show some kind of selling momentum. As I said above there has yet been a break or change in structure. With that being said I am still looking for price to sell from this area. I am keeping in mind this is a significant price point and with all of the buying momentum we had, Aussie Dollar could consolidate at this price point for a moment before a selling. The Bar Pattern is a visual of what I would like to see price do: Make a lower high, break below the black up trendline (a test of this line is another confluence) and begin to trade to the green 4h trendline.
by mindexchangME
Aussie Dollar 11.25.23OANDA:AUDUSD The previous week of Aussie Dollar was Bullish: 1. Aussie bought on Sunday, closed above the previous high. 2. Retested the previous high and began to buy higher. 3. Monday closing and Tuesday opening made a higher high. 4. Aussie began to make a series of lower lows and lower highs. 5. Wednesday completed the correction and with a few confluence began to buy again. 6. Thursday price broke above the highs from the correction and began to move sideway. 7. Friday price bought and closed at the high of the week. This weeks: Price is still bullish via my analysis. There is a green uptrend line price has been buying from. I am looking for price to come to this green trendline and began to make a higher high. Something similar to the Bar Pattern.
by mindexchangME
Aussie Dollar to close the week lowerOANDA:AUDUSD This upcoming week of Aussie Dollar, via my analysis, price will continue the trend and trade lower. Current price is in a consolidation right after great selling momentum. Two thing happen from here and its simple: Price trades above or Price trades below. Via my analysis, price could trade above the consolidation and come back to reject the downtrend line. If price continues to buy and trades higher than the downward trendline, there is a light trendline above it. This trendline has been rejected, broken, and could possibly be retested for the selling momentum. On the contrary, if price begin to sell below the consolidation this is the continuation of trend. #AUDUSD #USD
Short
by mindexchangME
Improve Your Research With MindsOur new social feature, Minds, is now available on our free mobile app for iOS and Android. Minds is an exclusive chat for your favorite symbols. Want to read what other investors are saying about AAPL? Head to the AAPL Mind. Curious to discuss Bitcoin’s price action? Check out the BTCUSD Mind. There’s now a place to chat about every symbol no matter how obscure or popular. Gather around a specific symbol with other traders and start sharing your mind. To celebrate the launch of Minds on mobile, we’d like to show you how it works and specifically showcase how it can improve your research. If you don’t have our mobile app, get it now . How to use Minds from your mobile phone: Open the TradingView app and select a symbol from your watchlist. Then, find and select the tab that says “Minds” - depending on your screen size, you may have to scroll down. Now you can read what everyone is saying about that specific symbol! To post your own ideas, thoughts and analysis, click the cloud with a plus at the bottom right-hand corner of the screen. Type your message and then press the button that says “post” to share your message with everyone. This new social feature will make it incredibly easy to meet, chat, and discuss your favorite symbols with others. You now have access to a highly specific chat only for those who care the most about specific symbols. Remember: this is a community feature, so the more active you are, the better it’ll be for you and everyone else involved. Note: If you’re having trouble accessing Minds, double check that the Show symbol screen feature is on, which can be activated from the settings menu. Wait… don’t go anywhere yet! We have some tips to share because Minds creates a whole new way to research your favorite symbols. Keep reading… How can you improve your research with Minds? 1. Real-time sentiment analysis With Minds, you will be able to read what other people think about your favorite symbols. It is very common to see new perspectives with this approach and avoid one of the biggest mistakes in trading, which is believing you’re always right. You know what they say… one big mistake is enough to blow your account, so reading what other people are saying can open your mind in that sense. 2. Concise Insights Condensing intricate concepts or analysis into easily digestible bite-sized updates makes information accessible to a wider audience. Even those without a deep understanding of the charts can gain insights and stay informed, thereby fostering a more inclusive and informed community. In today's world, there's a lot of information everywhere, and it can be overwhelming. The Minds’ updates make things clear and simple. They show you just what you need to know, making it easier to stay in the loop without getting lost in the noise. 3. See how other traders use technical and fundamental analysis One of the most interesting features on Minds is the ability to share charts. This is useful as you can see Support or Resistance Levels, Triangles, Head and Shoulders and all sorts of chart patterns from different time intervals by traders all around the world. Every trader sees things differently so it is a great way to see how others analyze charts. 4. Timeliness and breaking news In the financial world, where split-second decisions can translate into significant gains or losses, timing stands as an important cornerstone. The Minds feature helps in facilitating the instantaneous dissemination of news, charts and analysis since you don’t have to write lengthy descriptions. Minds enables real-time sharing of analysis, ensuring that traders and investors are aware of developments that could impact their decisions almost as soon as they happen. 5. Personalization Imagine scrolling through a news feed – these updates are like short and interesting news pieces. You can easily look through them to find the ones that match what you're interested in or what you need to know. So, it's like getting the information you want without having to search too hard. This keeps you connected and up-to-date with what matters to you. Meet others, share, and interact to get started. Think about it as a way to get the most important updates about symbols on your watchlist without all the extra stuff that might confuse you. We look forward to seeing how you interact with Minds! Please write us in the comments below with any feedback, comments or suggestions. Team TradingView
NYSE:SEducation
by TradingView
22
Go, go MNDO! MNDOMind CTI ltd Immediate targets 3.31, 3.45, 3.61. Invalidation at 2.81 . We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
NASDAQ:MNDOLong
by Rykin_Capital
Potential Bullish Break Out - Daily Interval - AMRHHello Successful Traders, As the time is approaching, for some of us we have been anticipating the announcement of the Earnings Report. Tomorrow at 8:00 A.M. EST, the company will release it's report. Await confirmation prior to entering the market. Resistance Level 2 - (0.40 - 0.50) 10 cent interval Resistance Level 1 - (0.33 - 0.40) 7 cent interval Key Price Zone (KPZ) - (0.25 - 32) 7 cent interval Support Level 1 - (0.20 - 0.25) 5 cent interval Support Level 2 - (0.10 - 0.20) 10 cent interval Furthermore, the company has released a number of promising PRs that can truly assist its revenue stream within the upcoming quarters. Not Investment Advice. For Educational and Analytical Purposes Only. (Be Conscientious and Stick To Your Trading Plan)*** - LionGate
ALong
by LionGate
1
Tired of Losing? "The Market cannot hurt Me. I can only hurt my Self!" - Josh Ridenour There is a Time for Losing - The 29th verse of the Tao Te Ching is about how there is a time for everything in life. A time for being ahead, a time for being behind. In the market, there is also a time for everything. A time for large profits, small profits, break even trades, losers, and consecutive losers which lead to a draw down. It is easy to get caught up in the heat of the moment depending on where you currently are. But it does not really matter what part of the cycle you are in, it is all part of a traders life and the cycle of a trading performance. Stop Predicting! It is a false belief to believe prices and markets can be predicted. If it were possible eventually the majority of market participants would figure it out and there would be no one left on the other side of the trade, and the market would cease to exist entirely. If it were possible to predict markets, you could avoid losing trades and only take winners. Anyone who has been trading for very long knows this is simply not the case. The problem with making predictions is you then shut your mind off from the information the market gives you. Instead of being open to what is happening, your mind becomes rigid and can only take in what confirms your beliefs. This prevents you from being able to flow with the market, and open your self to the opportunity in front of you. The best traders admit when they are wrong, get out, and even reverse if necessary. If you dont believe this - listen to a stock analyst on Mad Money or any other TV show about stocks. They are often so confident in what they say that they might even convince you! But there is a reason why he is on TV talking about markets, and not trading them. If he could trade the markets and make money he would have no reason to go on TV as the financial rewards are miles apart. In fact, analysts make the worst traders because they are so caught up in their thoughts and beliefs about market direction that they cannot trade effectively! Cease efforts "Wu Wei" In Eastern Philosophy there is a term "Wu Wei." It cannot be fully understood or explained in words, only experienced. At the essence of its meaning is to "Let be" to "allow" or "flow like water down a stream." The point is to stop resisting, and stop trying so hard. The harder you grasp at something, the harder you try to succeed, the more you fail. If you are constantly trying to make money, and constantly trading, you are probably not making a consistent return. Rather than trying so hard, let trading come naturally. Profitable trading is effortless. It does not require thought, only action. In fact, I try to do as little as possible, and trade as little as possible. My most profitable weeks I hardly trade at all! This has become a fundamental aspect of my trading system. Instead of constantly trying to make money all the time, I simply wait for a pot of gold to be in front of me before I do anything. Then, I take it. Again if you dont believe me; try as hard as you can tomorrow to make as much money as possible and see what happens! Stop Trying to Remove or Control Emotions - Most traders who have been trading for a while come to the idea that emotions prevent them from success and are standing in their way. I know, as I have been there. And so we try as hard as we can to remove emotions from our trading. There is a problem with this concept. You are a human right? As long as you are human, you will have emotions; no matter how hard you try to remove them. It is simply not possible. So removing emotions or attempting to do so is the wrong approach. Instead; use your emotions to your advantage! They are warning signs; listen to them. Then there is the negative internal dialogue which the market often brings out. After a series of losing trades, many traders get upset and feel bad. They blame the market for taking from them, and feel like a loser. How do you think a trader will perform after feeling this way for a few days or longer? His performance suffers as he tries to take back what was once his and he compounds his mistakes by trading out of a negative mindset. You have to learn to recognize and become aware of your internal dialogue. It is very important to your trading career, and your every day life. Most of us live our lives without the slightest idea as to what we are doing to our selves. Your mental structure is a choice. This is what I mean when I say "The Market cannot hurt me, I can only hurt my Self." My Trading Psychology book "A Traders Mentality - The Path of Self Discovery and Being a Trader" is all about these ideas and how to free your mind and better your trading performance. If you found this helpful, please like! Feel free to comment or ask questions.
SP:SPX
by tradersmentality
Tired of Losing?"The Market cannot hurt Me. I can only hurt my Self!" - Josh Ridenour There is a Time for Losing - The 29th verse of the Tao Te Ching is about how there is a time for everything in life. A time for being ahead, a time for being behind. In the market, there is also a time for everything. A time for large profits, small profits, break even trades, losers, and consecutive losers which lead to a draw down. It is easy to get caught up in the heat of the moment depending on where you currently are. But it does not really matter what part of the cycle you are in, it is all part of a traders life and the cycle of a trading performance. Stop Predicting! It is a false belief to believe prices and markets can be predicted. If it were possible eventually the majority of market participants would figure it out and there would be no one left on the other side of the trade, and the market would cease to exist entirely. If it were possible to predict markets, you could avoid losing trades and only take winners. Anyone who has been trading for very long knows this is simply not the case. The problem with making predictions is you then shut your mind off from the information the market gives you. Instead of being open to what is happening, your mind becomes rigid and can only take in what confirms your beliefs. This prevents you from being able to flow with the market, and open your self to the opportunity in front of you. The best traders admit when they are wrong, get out, and even reverse if necessary. If you dont believe this - listen to a stock analyst on Mad Money or any other TV show about stocks. They are often so confident in what they say that they might even convince you! But there is a reason why he is on TV talking about markets, and not trading them. If he could trade the markets and make money he would have no reason to go on TV as the financial rewards are miles apart. In fact, analysts make the worst traders because they are so caught up in their thoughts and beliefs about market direction that they cannot trade effectively! Cease efforts "Wu Wei" In Eastern Philosophy there is a term "Wu Wei." It cannot be fully understood or explained in words, only experienced. At the essence of its meaning is to "Let be" to "allow" or "flow like water down a stream." The point is to stop resisting, and stop trying so hard. The harder you grasp at something, the harder you try to succeed, the more you fail. If you are constantly trying to make money, and constantly trading, you are probably not making a consistent return. Rather than trying so hard, let trading come naturally. Profitable trading is effortless. It does not require thought, only action. In fact, I try to do as little as possible, and trade as little as possible. My most profitable weeks I hardly trade at all! This has become a fundamental aspect of my trading system. Instead of constantly trying to make money all the time, I simply wait for a pot of gold to be in front of me before I do anything. Then, I take it. Again if you dont believe me; try as hard as you can tomorrow to make as much money as possible and see what happens! Stop Trying to Remove or Control Emotions - Most traders who have been trading for a while come to the idea that emotions prevent them from success and are standing in their way. I know, as I have been there. And so we try as hard as we can to remove emotions from our trading. There is a problem with this concept. You are a human right? As long as you are human, you will have emotions; no matter how hard you try to remove them. It is simply not possible. So removing emotions or attempting to do so is the wrong approach. Instead; use your emotions to your advantage! They are warning signs; listen to them. Then there is the negative internal dialogue which the market often brings out. After a series of losing trades, many traders get upset and feel bad. They blame the market for taking from them, and feel like a loser. How do you think a trader will perform after feeling this way for a few days or longer? His performance suffers as he tries to take back what was once his and he compounds his mistakes by trading out of a negative mindset. You have to learn to recognize and become aware of your internal dialogue. It is very important to your trading career, and your every day life. Most of us live our lives without the slightest idea as to what we are doing to our selves. Your mental structure is a choice. This is what I mean when I say "The Market cannot hurt me, I can only hurt my Self." My Trading Psychology book "A Traders Mentality - The Path of Self Discovery and Being a Trader" is all about these ideas and how to free your mind and better your trading performance. If you found this helpful, please like! Feel free to comment or ask questions.
Education
by tradersmentality
The Hardest Part of Trading (What is rarely said)Seeking More information - When first introduced to markets, every beginner immediately thinks he must learn the rules of the market in order to succeed. He thinks he loses because he does not know enough. He initially believes there is a "holy grail" a system, a leader, or a mathematical equation like Fibonacci levels. He believes these will protect him in the market, and will lead him to a profit once he understands them. The problem is, there are no set rules which work consistently in the market. If there were, the institutions and everyone else would simply use them. What would happen then? Well, there would be no one or institution to take the opposite trade, and the market would cease to exist altogether. And so the new trader changes from one system to another, from one guru to another, and constantly thinks he must learn more information in order to succeed. What he believes to be preventing his success is a lack of knowledge, a lack of information. But you see, the more information you have does not necessarily lead to better decisions. There is a lot of evidence to support the contrary, and suggests that too many choices actually impair decision making skills. On top of this, most of the information in the trading world is quite simply wrong. There are 10 x more scam artists who claim to "know" and will take your money to teach you how to trade than there are profitable traders. Beware of anyone who claims to know anything. They are either fooling themselves, or fooling you. These people do not understand markets or them selves, and cannot make money in the market, so instead they prey on new market entrants. This is the primary reason I started my trading website; to provide high value information at a low cost. And to give those who are serious about trading an actual chance to make it in the markets, without ignoring a key variable; your self. Dealing with Uncertainty - The reason most traders seek new information is because they are afraid of uncertainty and want certainty. They seek something to protect them in the market. Something to protect them from themselves. A system that will guarantee a profit. But there is no such thing. Markets constantly change and evolve through the market cycle. And there is no system that works across all three parts of the market cycle. No matter how convinced you are of something happening in the market, there is always at least a 30-40% chance of the exact opposite happening. This means even the strongest edge has a failure rate. The sooner you realize and accept this, the closer you will be to making a consistent profit. It is very hard to learn how to deal with uncertainty. But you do it every day. When you wake up in the morning are you certain you will live through the end of the day? Are you certain you will still have a job tomorrow by working for a reputable company? No, and you can never be completely certain of this. Certainty is an illusion. There is no certainty in this life. The only certainty is... uncertainty! Patience and Discipline (Ability to Do Nothing) - Every profitable trader uses these two terms (patience and discipline) when asked how they are profitable. When a beginner hears this, he rarely understands what this means. Discipline means doing something even when you dont want to do it, or doing something you dont want to do. Patience means waiting for your turn, or waiting for something to happen. But we all want to trade right? Yes of course, that is what we do as traders. But having discipline means not trading when the trading is not good, even though you want to. And having patience means waiting for the good trading to return again. In other words, when the time is not right you must do nothing. If your edge is not present; there is no edge and no action to make. When the market is not offering what you want, or is confusing, you must develop the ability to wait, and do nothing until the time is right again. This idea of "doing nothing" stokes a fear in most people, especially in todays give me distractions, social media world. They say "Well what am i supposed to do if i am doing nothing?" Doing nothing seems contrary to getting what you want, getting somewhere. In and outside of the trading world everyone believes in order to be a "trader" you must trade - constantly. This is why most traders lose money. Because they do not understand that there is a time for doing absolutely nothing. And that time is most of the time! See more on understanding markets (Price Action Trading) and yourself (Trading Psychology)at my website below. If you found this helpful please like! Feel free to comment or ask questions.
Education
by tradersmentality
20
The Hardest Part of Trading (Not what you Think)Seeking More information - When first introduced to markets, every beginner immediately thinks he must learn the rules of the market in order to succeed. He initially believes there is a "holy grail" a system, a leader, or a mathematical equation like Fibonacci levels. He believes these will protect him in the market, and will lead him to a profit once he understands them. The problem is, there are no set rules which work consistently in the market. If there were, the institutions and everyone else would simply use them. What would happen then? Well, there would be no one or institution to take the opposite trade, and the market would cease to exist altogether. And so the new trader changes from one system to another, from one guru to another, and constantly thinks he must learn more information in order to succeed. What he believes to be preventing his success is a lack of knowledge, a lack of information. But you see, the more information you have does not necessarily lead to better decisions. There is a lot of evidence to support the contrary, and suggests that too many choices actually impair decision making skills. On top of this, most of the information in the trading world is quite simply wrong. There are 10 x more scam artists who claim to "know" and will take your money to teach you how to trade than there are profitable traders. These people do not understand markets them selves, and cannot make money in the market, so instead they prey on new market entrants. This is the primary reason I started my trading website; to provide high value information at a low cost. And to give those who are serious about trading an actual chance to make it in the markets. Dealing with Uncertainty - The reason most traders seek new information is because they are afraid of uncertainty and want certainty. They seek something to protect them in the market. Something to protect them from themselves. A system that will guarantee a profit. But there is no such thing. Markets constantly change and evolve through the market cycle. And there is no system that works across all three parts of the market cycle. The sooner you realize this, the closer you will be to making a profit. It is very hard to learn how to deal with uncertainty. But you do it every day. When you wake up in the morning are you certain you will live through the end of the day? No, and you can never be completely certain of this. Certainty is an illusion. There is no certainty in this life. The only certainty is... uncertainty! Patience and Discipline (Ability to Do Nothing) - Every profitable trader uses these two terms (patience and discipline) when asked how they are profitable. When a beginner hears this, he rarely understands what this means. Discipline means doing something even when you dont want to do it, or doing something you dont want to do. Patience means waiting for your turn, or waiting for something to happen. In other words, when the time is not right you must do nothing. This stokes a fear in most people, especially in today's give me distractions, social media world. They say "Well what am i supposed to do if i am doing nothing?" Doing nothing seems contrary to getting what you want, getting somewhere. In and outside of the trading world everyone believes in order to be a "trader" you must trade - constantly. This is why most lose money. Because they do not understand that there is a time for doing nothing. And that time is most of the time! See more on understanding markets (Price Action Trading) and yourself (Trading Psychology) at my website below. If you found this helpful please like! Feel free to comment or ask questions.
SP:SPXEducation
by tradersmentality
SYMC Volatile - Breakout Mode - Slight Bull AdvantageSYMC is at the bottom of a bull flag trading range and in the midst of an expanding triangle. Prices have been volatile the past two weeks, with gaps up and down. Both sides are fighting for follow through. The bulls have a slight advantage because we are near the bottom of a bull flag trading range. The bears need a strong breakout below the 16 higher low. There have been many bear attempts over the past year to break below, but so far have failed (tails). The bulls want a test of the all time high around 34, but need a breakout above the 26 level first. The bull follow through from the Jun 3 double bottom pullback was strong, with consecutive bars and bull gaps. The bulls will likely (60%) get some form of second leg up and test of the 24-26 level unless the bears get a strong breakout below the 18 support. There is always atleast a 40% chance of this happening, but until it does, it hasnt. To learn more about how to determine the directional probability and how to structure a trade based on this with a positive traders equation, please see below. If you found this helpful please like! Feel free to comment or ask questions.
SLong
by tradersmentality
The Top 3 Reasons Traders Lose and Give up1). Over-trading and Random trading. Most people and traders think in order to make money as a trader you have to be trading all the time. If you are simply watching the market, you are missing out, or not doing your job by not trading it. This leads to over trading, and trading randomly or outside of your edge. Any trades taken that are not apart of your trading plan and do not align with your clearly defined edge, should be considered random trading. This is common after losing, because the natural tendency to want to make back what you lost. This only compounds mistakes and adds to the losses, making it even harder to recover both emotionally and financially. Being excited or eager to trade is normal, especially for beginners who are drawn to the profit potential. We are all in the market to make money, and if you are not in the market you are not making money. But more often than not, being out of the market is the right thing to do. It is often better to not make any money, than to lose it! By understanding, developing, and only trading your edge you increase your likelihood of earning a consistent income. Remember, all edges have a failure rate between 40-60%. So it is important to not jump back into the market after losing, until the next time your edge sets up. If you do not know what your edge is, you should only trade SIM or not at all until you develop one. 2). Scalping or Not Allowing for Windfall Profits. There is an old saying on Wall Street "you cant go broke taking profits." But you absolutely can go broke by taking profits, primarily when your losses are bigger than your wins. It has become common these days for people to advocate scalping. But they do not understand that the math is against them. They think since the high frequency trading firms are scalping for ticks or a point, that they should too. But a retail trader cannot compete with these institutions. They have algorithms that can make 10 trades faster than you blink, pay minimal commissions, have direct access to the exchanges, hedge their trades, and often use wide stops and scale in to positions. A beginner should never scalp, and even those with experience are better off swing trading as it offers a less stressful and less difficult way to trade profitably. When swing trading it only takes 1 out of 10 trades to offset all the losers and provide a profit. This is the complete opposite of scalping, where it takes 10 winners to offset one large loss. Or if you are using a smaller stop like twice your target (1 point target and 2 point stop), it still takes 2 trades to make up a single loss and a third to make a minuscule profit after commissions. What happens when you lose again? This cycle repeats over and over, and the trader dies slowly but surely from 100 bee stings. 3). Wrong Mentality. There are many examples of the wrong traders mentality which prevents success for so many. One of which is losing. Most traders do not like to lose, they see losing as a problem. They do not understand that losers lead to winners, and that losing is the natural cycle of trading and is imperative to a consistent return. You cant win if you dont lose! Another example is emotions. Most traders see emotions as the enemy, that which stands between themselves and the market, and prevents them from succeeding. So they work to try and remove emotions. But this is not possible. As long as you are a human you will have emotions. You can never remove them. The key is to understand them, and use them to your advantage in the market. And when you are not in the right mental state, remove yourself from the market altogether. A third example is fighting the market. This relates back to the first topic, over trading and random trading. Many traders do not realize the market does not always offer what they are seeking. A trading range is a good example of this. In a trading range, the market goes sideways there are many failures, and the market does not get very far. What happens to a trader who does not realize this? He continues fighting the market, looking for a large gain when the market is not offering one. So it is important to understand your self and the market. Not just the market. You need to be able to realize when you should not be trading because your mind is not in the right state productive to trading. As well as knowing and understanding your edge, which also means the market context it works well in, and when it does not. For more understanding on these topics and more, including how to develop an edge and how to better your traders mentality, see website below. If you found this helpful please like! Feel free to comment or ask questions.
by tradersmentality
1
Top 3 Reasons Traders Lose or Give Up1). Over-trading and Random trading. Most people and traders think in order to make money as a trader you have to be trading all the time. If you are simply watching the market, you are missing out, or not doing your job by not trading it. This leads to over trading, and trading randomly or outside of your edge. Any trades taken that are not apart of your trading plan and do not align with your clearly defined edge, should be considered random trading. This is common after losing, because the natural tendency to want to make back what you lost. This only compounds mistakes and adds to the losses, making it even harder to recover both emotionally and financially. Being excited or eager to trade is normal, especially for beginners who are drawn to the profit potential. We are all in the market to make money, and if you are not in the market you are not making money. But more often than not, being out of the market is the right thing to do. It is often better to not make any money, than to lose it! By understanding, developing, and only trading your edge you increase your likelihood of earning a consistent income. Remember, all edges have a failure rate between 40-60%. So it is important to not jump back into the market after losing, until the next time your edge sets up. If you do not know what your edge is, you should only trade SIM or not at all until you develop one. 2). Scalping or Not Allowing for Windfall Profits. There is an old saying on Wall Street "you cant go broke taking profits." But you absolutely can go broke by taking profits, primarily when your losses are bigger than your wins. It has become common these days for people to advocate scalping. But they do not understand that the math is against them. They think since the high frequency trading firms are scalping for ticks or a point, that they should too. But a retail trader cannot compete with these institutions. They have algorithms that can make 10 trades faster than you blink, pay minimal commissions, have direct access to the exchanges, hedge their trades, and often use wide stops and scale in to positions. A beginner should never scalp, and even those with experience are better off swing trading as it offers a less stressful and less difficult way to trade profitably. When swing trading it only takes 1 out of 10 trades to offset all the losers and provide a profit. This is the complete opposite of scalping, where it takes 10 winners to offset one large loss. Or if you are using a smaller stop like twice your target (1 point target and 2 point stop), it still takes 2 trades to make up a single loss and a third to make a minuscule profit after commissions. What happens when you lose again? This cycle repeats over and over, and the trader dies slowly but surely from 100 bee stings. 3). Wrong Mentality. There are many examples of the wrong traders mentality which prevents success for so many. One of which is losing. Most traders do not like to lose, they see losing as a problem. They do not understand that losers lead to winners, and that losing is the natural cycle of trading and is imperative to a consistent return. You cant win if you dont lose! Another example is emotions. Most traders see emotions as the enemy, that which stands between themselves and the market, and prevents them from succeeding. So they work to try and remove emotions. But this is not possible. As long as you are a human you will have emotions. You can never remove them. The key is to understand them, and use them to your advantage in the market. And when you are not in the right mental state, remove yourself from the market altogether. A third example is fighting the market. This relates back to the first topic, over trading and random trading. Many traders do not realize the market does not always offer what they are seeking. A trading range is a good example of this. In a trading range, the market goes sideways there are many failures, and the market does not get very far. What happens to a trader who does not realize this? He continues fighting the market, looking for a large gain when the market is not offering one. So it is important to understand your self and the market. Not just the market. You need to be able to realize when you should not be trading because your mind is not in the right state productive to trading. As well as knowing and understanding your edge, which also means the market context it works well in, and when it does not. For more understanding on these topics and more, including how to develop an edge and how to better your traders mentality, see website below. If you found this helpful please like! Feel free to comment or ask questions.
COINBASE:BTCUSD
by tradersmentality
Day Trading Trend or Trading Range? Can be applied to investingIn the previous article we discussed only trading on strong trend days or strong markets. We also identified what increases the likelihood of a day (or market) becoming a strong trend. As said before, there are only a handful of strong days a month (or only a few strong markets at any given time). Because of this, it is just as important to identify and understand when a market is likely not a trend and more likely a trading range. Within the first hour or two of the open (when day trading), it is often obvious if the day will likely become a trend day or a trading range. Once the market has been identified as likely a trading range, it is unlikely to become a trend day as the market tends to continue what it has been doing. In this case it is more likely to continue to have heavy two sided trading and less likely to convert into a strong and healthy trend. But wait - most channels are some form of trading range right? Yes. This is a form of slanted trading range, or a trending trading range. This is where the market is technically in a trend but it is very weak and likely to reverse at any time. In fact, by the close it will likely reverse and the trend is unlikely to remain intact. Characteristics of a Trading Range Day "............" So if most days are not trend days and are instead some sort of trading range, cant a day trader use this information to his advantage? Of course, if it aligns with your trading style or method. But you must understand that you are not likely to win on many trades, or win a large reward. Instead most trades even strong ones, only go for 1X the risk. On top of that there are many trades to take, most of which fail. This makes it difficult to remain focused and continue trading without emotions and without missing the trades you need to win to recover losses. What about only taking strong trades like ".......?" That is a reasonable thing to do, but the probability is still often lower and the reward is as well. And on these days most stop order entries fail, resulting in repeated failures. This is a "............." If not, you will likely get stopped out just before prices go your direction! Or the market will only go in your favor temporarily before stopping you out. This makes trading difficult for beginners and even for those with experience. However most do not realize they should simply remove themselves from the market during these times. Instead they continue to trade as they think they should, and continue to grow losses, making it harder to recover even on a good trading day. "I do not like to trade when the market is likely to reverse at any time. I only like to trade when the market is not likely to reverse at all." - Josh Ridenour **These ideas and strategies can also be applied to higher time frames and even long term investing. "..." = withheld material from original post (members only material). If you found this helpful please like! Feel free to comment or ask questions
COINBASE:BTCUSDEducation
by tradersmentality
MOST IMPORTANT TRADE LESSONS!Lesson 9 Trading Psychology is Important When you look at the market you should see your self. The market is a collection of buyers and sellers. You are a participant in that marketplace, and therefore you are the market. How can you understand the market without understanding yourself? The mental landscape of a trader is extremely important and very valuable to a profitable trader. Those that do not understand this, are likely not making money in the market. Most people wanting to be traders never stop to consider this, and they think it is more knowledge about markets they need to make money. Most of the time it is what is going on in their mind that needs work. If you think you are going to wake up one day and be a profitable trader without working on your self, you are mistaken. If you think you are going to read a few books or watch 100 videos on trading and walk into the market the following week and make money, the traders who know the value of internal work will thank you for your money! Of course you must first understand markets, price action, the traders equation, and how to read a chart. But after that you must move on and dive into your trading psychology . It is not understanding markets that brings money into your account. It is your understanding of your perceptions of the market, awareness of your internal dialogue, thoughts, and emotions, along with your knowledge of the market. Ultimately it is your actions that are generated from these that dictate whether or not you will make money. If you do not understand what is happening within your mind at any given time, you are unlikely to achieve consistency long term. Sure you may pick a few good trades. Anyone can find themselves in a winning trade, even those who know nothing about markets. But will they continue to perform well over a month or a year? It is very unlikely. Trading psychology is vital to trading, whether you choose to accept it or not. The market is a paradox, a contradiction. If your mind is tied up and you are unaware, you will make poor actions in the market. Your mind must be free. Free to flow with the market, regardless of what you want or expected. You must be able to bring your mind back to the market and the necessary action right now. If not, you will be stuck within thoughts of what happened 5 minutes ago, or held by anger and frustration for what the market should be doing. If you do not devote time to understanding your mental landscape you will never grow, and never escape the mental turmoil which the market can cause, no matter how much time you devote to understanding what markets do.. For more information on how to develop this awareness or understand your self on a deeper level, see trading psychology. Lesson 10 Allow for windfall profits Many traders believe they must hold for a reward of twice their risk or believe they have high probability and so exit at one times the risk before the market takes it back. These concepts and ideas are more likely to hurt your performance than benefit it. The truth is, the market offers what it offers, and that's it. Sure sometimes its exactly 1x the risk or twice the risk. Other times it is much more. Cutting a winning trade just because it is reasonable, does not make it the best choice. In fact, when you are in a position with exceptional follow through, you must allow it to flourish. In other words, you must allow it to grow into a windfall profit. It only takes 1 out of 10 of these types of trades to create a positive net result. If you cut this 1 trade short because the market has gone to twice your risk, you are only hurting yourself and your numbers. This is like cutting a flower when it is just starting to bud. You do not allow the flower to bloom , and prevent the beauty which will soon appear. Instead you must nourish the plant, give it water, and allow it to grow into what it can be. Cutting a winning trade short is a self inflicted wound. This is often due to fear such as fear of a reversal, or fear of giving back profits. Thoughts of getting back what you previously lost, or hanging on to what you have right now is what leads to these poor actions. Being unwilling to allow for a pullback against the position which is necessary to allow it to grow. So how do you know when to hold and when to exit? That takes experience. What is important is your willingness to learn, and openness to allow a great trade to flourish. However there are signs which can help you identify which trades are likely to turn into a windfall profit, and those that you should take what the market offers you. For clarity and more information on this see Investing Guide. *If you find this analysis helpful please like! Feel free to comment or ask questions.
COINBASE:BTCUSDEducation
by tradersmentality
THE MOST IMPORTANT LESSONS! Lesson 9 Trading Psychology is Important When you look at the market you should see your self. The market is a collection of buyers and sellers. You are a participant in that marketplace, and therefore you are the market. How can you understand the market without understanding yourself? The mental landscape of a trader is extremely important and very valuable to a profitable trader. Those that do not understand this, are likely not making money in the market. Most people wanting to be traders never stop to consider this, and they think it is more knowledge about markets they need to make money. Most of the time it is what is going on in their mind that needs work. If you think you are going to wake up one day and be a profitable trader without working on your self, you are mistaken. If you think you are going to read a few books or watch 100 videos on trading and walk into the market the following week and make money, the traders who know the value of internal work will thank you for your money! Of course you must first understand markets, price action, the traders equation, and how to read a chart. But after that you must move on and dive into your trading psychology. It is not understanding markets that brings money into your account. It is your understanding of your perceptions of the market, awareness of your internal dialogue, thoughts, and emotions, along with your knowledge of the market. Ultimately it is your actions that are generated from these that dictate whether or not you will make money. If you do not understand what is happening within your mind at any given time, you are unlikely to achieve consistency long term. Sure you may pick a few good trades. Anyone can find themselves in a winning trade, even those who know nothing about markets. But will they continue to perform well over a month or a year? It is very unlikely. Trading psychology is vital to trading, whether you choose to accept it or not. The market is a paradox, a contradiction. If your mind is tied up and you are unaware, you will make poor actions in the market. Your mind must be free. Free to flow with the market, regardless of what you want or expected. You must be able to bring your mind back to the market and the necessary action right now. If not, you will be stuck within thoughts of what happened 5 minutes ago, or held by anger and frustration for what the market should be doing. If you do not devote time to understanding your mental landscape you will never grow, and never escape the mental turmoil which the market can cause, no matter how much time you devote to understanding what markets do.. For more information on how to develop this awareness or understand your self on a deeper level, see trading psychology. Lesson 10 Allow for windfall profits Many traders believe they must hold for a reward of twice their risk or believe they have high probability and so exit at one times the risk before the market takes it back. These concepts and ideas are more likely to hurt your performance than benefit it. The truth is, the market offers what it offers, and that's it. Sure sometimes its exactly 1x the risk or twice the risk. Other times it is much more. Cutting a winning trade just because it is reasonable, does not make it the best choice. In fact, when you are in a position with exceptional follow through, you must allow it to flourish. In other words, you must allow it to grow into a windfall profit. It only takes 1 out of 10 of these types of trades to create a positive net result. If you cut this 1 trade short because the market has gone to twice your risk, you are only hurting yourself and your numbers. This is like cutting a flower when it is just starting to bud. You do not allow the flower to bloom, and prevent the beauty which will soon appear. Instead you must nourish the plant, give it water, and allow it to grow into what it can be. Cutting a winning trade short is a self inflicted wound. This is often due to fear such as fear of a reversal, or fear of giving back profits. Thoughts of getting back what you previously lost, or hanging on to what you have right now is what leads to these poor actions. Being unwilling to allow for a pullback against the position which is necessary to allow it to grow. So how do you know when to hold and when to exit? That takes experience. What is important is your willingness to learn, and openness to allow a great trade to flourish. However there are signs which can help you identify which trades are likely to turn into a windfall profit, and those that you should take what the market offers you. For clarity and more information on this see Investing Guide. *If you find this analysis helpful please like! Feel free to comment or ask questions.
A
by tradersmentality