In Fx its important that you be prepared for anything...earlier on i had forecasted a sell on both GU and GJ but hey we cant control the market you just have to stay prepared.
. #gbpusd #fxat21 #forextrader #charts #longposition
My last week in demo before I go live next week! Still have a few trades left this week but here’s a snippet.
Over the past 4 months I’ve been studying the foreign exchange market (forex)
I Learned a bit about myself and experimented on demo
Then went to YouTube and looked up anything relating to forex and even started reading books about it (if it wasn’t obvious)
Found a mentor Neiko who was patient with my lack of understanding in grey areas and motivational
And Further extended my knowledge with a group of people with hella supportive, informative and friendly people at @9to5fx
I learned a lot about myself these past 4 months and not just forex related, I feel like I’ve grown a lot more than I thought I ever could over the course of 4 months
And after smoothing out the rough edges, I finally feel comfortable with taking it to the next level starting next week, will be going Live!
Profits and losses are a part of #trading , no one can escape a few losing trades no matter how expert the trader is. As we become better at trading we learn to keep the ratio of losing trades to winning trades as low as possible in order to be #profitable overall.
In trading we should learn to take losses with a clear head and same applies to #profitable
trades where we shouldn't think more highly of ourselves
Comment below👇if you agree with me and keep following for more such content
Pattern 'Confirmation' is required everytime before entering a position based on it📈
As we can see in the chart it seem like a Head & Shoulders reversal but it never confirmed itself by a breakout with huge volume, which it didn't. Instead it spiked above the Neckline and retraced back to trap some #traders and failed head & Shoulders Pattern afterwards
I personally call these golden patterns' because if you can spot a trap you can trade in reverse direction and make huge #profits 💰
Comment below 👇if you found it useful and keep following for more such content
The most popular reversal pattern amongst #traders is the 'Head & Shoulders Pattern'. Lets talk about its formation in detail:-
🔹It consists of three peaks which are Left Shoulder, Head and Right Shoulder and two troughs which are joined by a horizontal line called 'Neckline'
🔹The peaks are formed with low volume which shows the fading Uptrend and #bearish price action ahead
🔹The breakout of Neckline confirm the reversal and now short positions can be opened.Breakout must happen with high volume.
🔹This pattern usually take a longtime to form as do most reversal patterns
Comment below 👇if you find that useful and keep following for more such content
Lets talk about 'Double Top' reversal pattern.
As we can see peak C couldn't cross above peak A, instead its at the same #price as peak A and then the prices continued to go down with very heavy volume📉
The psychology behind this price action is that the existing uptrend was losing momentum and bears took over with the breakdown below B. One must only trade once we get the confirmation with the breakout below B. Those who spot it are real profit takers in the #stockmarket 💰
Lets talk about cycles, that are so prominent in #financialmarkets 📈. As we know there are three trends but when we talk about sentiment we cover a major long term trend. After every #bullmarket there's a #bearmarket after some sideways movements and after every bear market there's a bull market.
When we say 'this time its different' and refuse to change with trend and sentiment we go against the market and there's nothing true other than market itself, for which market punish us through losses💸
Comment below 👇if you agree and keep following for more such content
1 2017 August, 2019
Literally speaking the closing price of any timeframe(e.g daily, weekly,monthly) is very crutial as the #smartmoney have their tactics sorted and no matter where the #markets open its closed where its supposed to be. The long wicks are generally the result of this only.
That is why closing prices are taken into consideration anyday over opening prices
Comment below 👇 if you agree and keep following us for more such content
Although the best and most brilliant of brains are working in #stockmarket , it only require a minimal formal education.All you need is a good grasp of basic high school mathematics.
Its all about human psychology, the charts we see is a representation of of how the masses and #smartmoney react collectively at a given point of time.
Comment below👇if you have opinions regarding this and keep following us for more such content.
Another way to spot where the forces of #supply and #demand meet is spotting the formation of TRENDLINES.
TRENDLINE is mostly useful in the case of a continuing trend and to spot whether the trend is still intact..A trendline can be formed by joining two lows/highs for which the price remains on either side of the line depending upon the trend📈
Trendline becomes significant when:
🔹It connects more than two points
🔹Its sustained for a longer time
Like we can see in STATE BANK OF INDIA stock this upper trendline hasn't been breached for almost 4 years now.
Comment below 👇if you have any opinion and keep following for more such valuable content
1 1913 August, 2019
📉🙏🏿 if 90% of traders lose, what makes you think you can #win against the top 10%? What do they know that you don't, I was given the Master's 🔑 #thankyou@timothysykes you was right doing my own thing is more comfortable. "Pick your Favorite Patterns" Be willing to risk only what you can, never borrow money to invest in the stock market and cut your losses quickly period. And never ever be greedy. Take your wins a run 🏃 "No risk No Reward!" I said give me until October maybe I'l have some dividends. I'll be lucky to have a Shirt.
This week felt like a month went pass that's how it felt when I forced yourself not too sell a stock just to make a base line of success -vs- failure. I could have sold for +194% Profit but I wouldn't have learned what I set out to accomplish the #endgame Do I really want you to win even if I lose in the process.
The #risk multiple by time & sacrifice #reward#winsandlosses#MONEYSIGNINVESTMENTCAFE . It's been a long time coming. First month was rough but today made it all worth it! I'm already wanting to see Monday's Profits and Friday's Profits kept rolling in #criticaldips ! Short Position Option buy Put ended at #closingbell hindsight I think about it I really wanted to keep it all to myself but I'm not doing this for just me My Babies need to know. My whole life I knew working for a hourly wage wasn't what I wanted to do with my life. Not understanding how real wealth was made drove me crazy. #neverquit "Sometimes you got to lose to #win#selfdirected#groupdirected IconMonstarsInc InvestmentClub afterhoursmovement #GapandCrap#CraptoProfits#CriticalDips #FinvizWatchlist#robinhoodwatchlist
Saturday Preparation #monday#profits @robinhoodapp@nasdaq@nyse
openingbell lunchtimequickie PanicRoom closingBell
tuesday & thursday #buylow#sellhigh
wednesday & friday evaluate actions of executions and analysis #cutlosses have an exit plan within the three day settlement process. #didyouseethatcoming#ifyoudontbelievemejustwatch#10x@grantcardone
I make losing look good 😋
3 312 August, 2019
Its absolutely essential for a new #trader to preserve his capital💰 because most of us have limited capital in the first place.
Suppose you have 100k bucks to trade and you lose 50% of those 100k, you'l need a #profit of 100% to regain the same amount(excluding broker's fee).
Think about it 100% profit to nullify 50% loss.
'Prices move in Trends' but how to determine the trend?
Well an 'Uptrend' is defined as a situation in which each successive high is higher than the previous high and each successive low is higher than the previous low.
Similarly in a 'Downtrend' each successive high is lower than the previous high and each successive low is lower than the previous low
Elsker et glas kold hvidvin.. må tilstå at jeg aldrig har været fan af at købe vin i Aldi og Lidl, men da jeg køber husets køkkenruller og toiletpapir her, er jeg da indimellem forbi🤔 faldt over denne New Zealandske Sauvignon Blanc.. den er faktisk fin til DKK 59,00 kr flasken. I denne uge på tilbud til DKK 49,00. Troede ikke gemalen ville huske at købe, så jeg tog 6 flasker med hjem fra Lidl, - så nu ligger der en mindre long position på vinreolen - for han havde sgu købt 18 flasker.. så er der da lidt til de lune aftener😂🤪 #longposition#sauvignonblanc#NewZealand#whitewine#winealittle#goodoffer