As discussed in our previous post, a well-defined trading plan is your invaluable compass, navigating you through the ever-shifting tides of the financial markets. It's not a rigid set of rules, but a dynamic roadmap that evolves with changing market conditions. Defining Your Trading Goals Your trading plan begins by clearly defining your trading goals. What do...
☝️The main purpose of my resources is free, actionable education for anyone who wants to learn trading and improve mental and technical trading skills. Learn from hundreds of videos and the real story of a particular trader, with all the mistakes and pain on the way to consistency. I'm always glad to discuss and answer questions. 🙌 ☝️ALL videos here are for...
Hello TradingView Family, Lately, I've been contemplating the fascinating parallels between trading and running a business. 🤔 It's intriguing how both these worlds share common ground, and I wanted to share my thoughts with you. 📜 Trading Plan as the Blueprint: In the business of trading, a well-crafted trading plan serves as the blueprint for success. Just as...
Risk management refers to the techniques used to identify, evaluate, and mitigate the potential risks associated with trading and investing. Whether you are a day trader, swing trader, or scalper, effective risk management can help you minimize losses and protect your hard earned money all while maximizing potential profits. Let's take a look at the top 7 risk...
Today, I'd like to introduce you to the 'AEM' framework – a three-step process to successful trading. This framework is designed for everyone, from beginners starting their journey to seasoned professionals looking to refine their strategies. It involves three fundamental steps: Analyze, Execute, and Manage. Let's break down each element: 🔍 'A' for Analyze The...
Hello fellow traders! I have compiled an article containing valuable insights and practical advice to help you navigate the trading world. Covering essential topics such as technical analysis, risk management, and adapting to market conditions, this resource is designed to enhance your trading skills. Dive in, learn, and apply these principles to your trading...
📖What is a trading plan? A trading plan is a comprehensive decision-making tool for your trading activity. It helps you decide what, when and how much to trade. A trading plan should be your own, personal plan – you could use someone else’s plan as an outline but remember that someone else’s attitude towards risk and available capital could be vastly different...
To build your strategy ,there are many factors that represent the columns of the building . These factors named by me the concepts of building the strategy.These include: 1-trading psychology 2-risk management 3-position sizing 4-trading plan These are the main factors . There is also an auxillary factors i will mention it later on
📖What is a trading plan? A trading plan is a comprehensive decision-making tool for your trading activity. It helps you decide what, when and how much to trade. A trading plan should be your own, personal plan – you could use someone else’s plan as an outline but remember that someone else’s attitude towards risk and available capital could be vastly different...
MAIN TALKING POINTS: What is FOMO in trading? What characterises a FOMO Trader? Factors that can Trigger FOMO DailyFX analysts share their FOMO experiences Tips to overcome FOMO WHAT IS FOMO IN TRADING? FOMO in trading is the Fear of Missing Out on a big opportunity in the markets and is a common issue many traders will experience during their careers. FOMO...
A financial background can be useful for understanding how forex and other markets work. However, more beneficial are skills in math, engineering and hard sciences, which better prepare traders for analyzing and acting on economic factors and chart patterns. It doesn’t matter how much awareness you have about financial markets – if you can’t process new data...
The topic of trading edge in the market is highly underrated, in my opinion. That’s why today I propose to discuss it, and I hope it can help you to shift your perspective on this matter. So let’s think about this together. What parts does your trading edge consist of? 🟩 THE BIG FILTER For me, the first part of any trading edge is its filter. So your trading...
Just like this. Buy and sell limits above and below structure, as in the most recent highs/lows, with your TP in general being a return to structure. Brutally easy way to scalp and make money. Few more examples... This one shows where the stop loss might be. In general, I go with a 2/3 or 3/4 type rule, where I'll have a wide cluster of limits, then a...
How To Make Your Trading Plan In 7 Steps ! ➡️ Choose The Correct Time Frame All traders know what time frames are, but few know that each time frame has a specific way of working. Time frames from 15 minutes to 60 minutes fall under the name of day trading, meaning that all deals will be closed on the same day, whether with profit or loss, and traders call it...
Hey Traders, Traders whether they are new to the world of finance or have been involved for a while can benefit greatly from setting specific goals in correlation to what it is they actually want to achieve. There's a million different ways on focusing and goal setting in trading and a lot of people get it wrong straight out of the gates. To this day I still see...
The stats for retail traders are not pretty. It's no secret around 80% of all retails traders lose money. The reason most fail is the four fears not being overcome. Fear of being wrong! We are emotional creatures and lets be honest none of us like being wrong. This trait shows in some more than others but there is no place in trading for this trait. It's...
I speak to a lot of traders, new and veteran. It's surprising to see how so many are not sure how risk is calculated and what the exposure really means in terms of P&L. This obviously is a major block in the road on the way to gaining confidence necessary to avoid losses. So let's break it down - *P&L is calculated by lot size * movement. Example: If you...
For 3-5 minutes while going through this forget what you know about trading. First thing is : Let's remember our goal, every successful action/plan started with a clear goal that led the way: In our case it's profit When starting to trade seeing the numbers go up and down plays with your head and emotion quickly tempting you with the unlimited potential at...