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HORIZONTAL LINES ORDER LIMIT STRATEGYSTYLE 1 PIXEL dotted line...level STYLE 2 PIXEL dotted line...buy limit order dashed line...sell limit order text (solid or dashed line) = position STYLE 3 PIXEL dotted line...buy stop limit order dashed line...sell stop limit order text (solid or dashed line) = position FLOW 01 level 02 buy limit order 03 position 04 sell limit order 05 level 06 sell stop limit order 07 buy stop limit order 08 level 09 position 10 buy limit order 11 sell limit order 12 sell stop limit order 13 buy stop limit order
Education
by OlegWinterfell
1
Visual Signals Versus Data Driven ResultsMany traders fall into the habit of judging a trading system or methodology by observing visual signals. A visual signal can range from a bot or algorithm signals, moving average interactions, a stochastic cross, or a plethora of other common patterns. Observation is the first step to finding a successful trading system but relying solely on visual cues will leave you open to selection bias. In other words, people tend to focus on the signals that worked and ignore the ones that didn’t. In addition to selection bias, if you make adjustments to an indicator or strategy based on visual cues without knowing the results in terms of accuracy and profit, you may suffer from what we call cascading changes, also known as unforeseen side effects. Tuning For Results The opposite of relying on visual cues is basing your decisions on the past results of a trading system. While past results do not guarantee future results, a pattern that has produced historical net profit is likely to work to some degree in the future. Indicators and systems that are packaged with backtesting logic allow you to make adjustments to the system and then view how your changes affect real outcomes like net profit, trade accuracy, and profit factor. Making indicator changes based on results means you are using data in your favor. Avoiding Selection Bias The fix for selection bias is simple. If a pattern looks good to your eyes, backtest it and ensure you locate every last instance of the pattern, especially failed outcomes. It’s also important that you backtest over a long time period and do so on multiple different tickers. Some systems work well over a specific date range on a certain ticker but are much less successful on other securities or date ranges. Those who are unable to write automated backtesting scripts will have to rely on manual backtesting or find others who provide backtesting suites. We highly recommend you avoid indicators and systems that do not include the ability to backtest and view past performance. It’s also best to remain skeptical when taking the word of many online influencers. Looking at a few signals that produced winning trades does not mean the system is capable of producing net profit over large sample sizes. In addition, only testing a system in a rampant bull market can be misleading. In other words, don’t fall victim to visual signals that don’t reveal results across time. Avoiding Cascading Changes When backtesting, sometimes tweaks you believe ought to improve your net profit do not produce the expected results. During extensive backtesting, many system changes we thought were improvements turned out to produce undesired outcomes. Not all changes improve your strategy even though the most recent visual signals appear better. For example, by adjusting a strategy variable to avoid a few unwanted losses you may inadvertently miss a few trades that were big winners. The same variables that produced the unwanted losses were the same variables that produced the big winners. Some of the best trading systems follow the trend and a pattern similar to the Pareto principle, which means a small number of trades produce a large amount of the total gains. Missing the big winning trades has a significant negative impact on your net profit. You will never know in advance if the trade will become a big winner, and anyone who tells you they know is naive. Trying to achieve perfect trade accuracy will cause you to miss many excellent opportunities. Adding more variables to a trading strategy means you are limiting the conditions that will activate a signal and increasing the likelihood your strategy will miss winning trades. A good strategy is strict, but simple, and does not attempt to achieve perfection. Technical analysis does not predict the future, it simply provides us with an indication that one outcome is more likely. Changing trading variables without knowing the full extent of your changes over time is akin to fighting with a blindfold on. Below you can observe the excellent gains produced by our Olympus Cloud backtest logic with only a 54% win rate.
NASDAQ:TSLAEducation
by Level8Trading
Trading Insights #3: Mastering Your Mind Debriefing In the opening two parts of our Trading Insights Series we evaluated the importance of probability and random distribution, and then covered some key misconceptions relating to technical analysis and price movement. We recommend you start at part one and work your way up, but this entry can stand alone. Intro Your mind is the most powerful piece of the puzzle when it comes to your trading success. Without developing the mentality of a pro trader, you will never achieve the results you desire. When it comes to mastering your mind, we can think of no one better to draw influence from than Buddha. In this entry to the series, we intend to turn back the clock to see if we can glean some valuable insight and apply it to our trading endeavors. Trading Pitfalls There are several pitfalls most aspiring traders fall prey to when operating in the market. In our analysis, there are two categories of trading errors. We define these as conceptual errors and execution errors. While it’s tempting to focus on execution errors, we’ve found that addressing conceptual errors simultaneously fixes execution errors. Conceptual errors stem from inappropriate ideas about trading. These errors are: 1. Not believing you need a defined strategy 2. Blaming the market for your failures rather than taking responsibility 3. Trying to get rich quick by trading in an aggressive and reckless fashion 4. Not viewing your trading exploits over a set of trades and over-emphasizing individual trades Not believing you need a defined strategy This is one of the most common and difficult to break trading habits. The market is a limitless environment where you can do whatever you want, whenever you want. Many traders enjoy this type of freedom and struggle to develop or follow trading rules. Some traders say they recognize the importance of a defined game plan, but when it comes down to it they don’t embody or act out a belief that rules are necessary. By not having a gameplan, or not following your game plan, you will never allow yourself to find out what methods work best for you. When you factor in random variables based on your momentary perception you prevent yourself from learning what variables give you a real edge on the market over a set of trades. Many traders develop a plan, but when the moment comes they fail to execute their plan. This cycle tends to repeat itself over and over. “An idea that is developed and put into action is more important than an idea that exists only as an idea.” —Buddha It’s time to embrace action, not ideas. Create a plan and follow it for 20 to 30 trades. If the results are not what you hoped for, come up with a new plan, and try again. When you find something that works, stick with it until it doesn’t. In this way, you will learn, with a degree of certainty, what method produces the desired results. Blaming the market for your failures rather than taking responsibility for your actions Many traders fall into the habit of believing the market is responsible for their success or failure. The market is a dynamic sequence of events that has no feelings or emotions. It goes up, and it goes down. The market does not exist to make you a winner, just as it does not exist to make you a loser. If you depend on the market to make you a winner, the market can take your success away. If you trade like a gambler and the market gives you a series of winning trades, the market will eventually take the money back. Once you realize it’s up to you to get what you want from the market you will embrace the appropriate amount of responsibility. “It is better to conquer yourself than to win a thousand battles. Then the victory is yours. It cannot be taken from you, not by angels or by demons, heaven or hell.” —Buddha When you take a huge loss, it’s not the market's fault — it’s yours. The contradictory component here is that if you find yourself in a huge winning trade it’s not necessarily because you’re a great trader. Anyone with any degree of skill can stumble into a big winning trade, even a complete amateur. Therefore, big losses beyond what you define as acceptable are your fault, but big winners beyond what you can imagine are not a product of your ability. Why? Because you could have prevented the loss by using a risk management plan, but for the winner, you just happened to enter at the right moment and there is no guarantee it will happen again. Professionals don’t allow themselves to believe they are responsible for big winners — they understand it was just an occurrence of the behavior pattern that gives them an edge on the market and the next trade could very well be a controlled loss. If you believe that a single huge winning trade is more important than a consistent mindset you are missing the big picture. When you master the appropriate mental techniques the market cannot take your success away. You will keep the gains you make and you’ll have the ability to keep winning in a consistent fashion. It’s time to take responsibility and conquer your mind. Trying to get rich quick by trading in an aggressive and reckless fashion Many people get into trading because it seems like the easiest way to make money. In addition, they think it’s their ticket to quick riches, almost like winning the lottery. Indeed, a select few individuals have been extremely lucky and have gotten rich on pure gambles in the market. Yet, if these people kept trading in the same reckless fashion they were not rich for long. There are many high-risk ways to trade the market and inexperienced people are drawn to these methods by the lure of some fast life-changing cash. “Patience is key. Remember: A jug fills drop by drop.” —Buddha There are 252 trading days in a year. If a day trader can consistently earn just 0.5% on their account per day, they can gain 125% in a year. Alternatively, if a swing trader can earn 1-2% per week, they can gain 50 to 100% on their capital in the same period. Any money manager would be ecstatic to produce such results. If you cannot consistently earn 0.5% per day or 2% per week, what makes you think you can earn 100% in a month, and keep it? If getting rich trading the market was easy every retail trader who attempts to trade would be rich. Not viewing your trading exploits over a set of trades and overemphasizing individual trades Nearly every trader has the tendency to view each trade in a vacuum. In other words, each trade either proves or disproves the trader’s methodology or ability, and determines their emotional state. Any trade that does not meet the trader’s expectations causes frustration and mental distress. The problem is, that no trading system tells you what will happen on any given trade. A trading strategy only gives you an approximation of what you can expect over many trades. There is no other way a strategy can work. You must view each trade as a part of a set — this is what it truly means to think in probabilities. “Nothing ever exists entirely alone; everything is in relation to everything else.” —Buddha When you have a methodology that gives you a positive expectancy, you must learn that you will never know in advance which trade will work. Each trade has its own unique outcome but also exists as a part of many trades. When you have a system that tips the odds in your favor, you must view the big picture and not let losing trades affect your positive mindset.
NASDAQ:NFLXEducation
by Level8Trading
3
Trading Insights #1: Probability & Random DistributionDebriefing In this mini-series, we take a look at what it takes to become a successful trader. The Trading Insights series focuses on concepts rather than analysis and will attempt to get you on the proper path to your trading goals. We believe the ideas contained in this series are the proper base to help you become a professional trader. We define a professional trader as an individual who makes consistent profits month after month, only takes controlled losses, does not succumb to momentary emotions, and does not experience outsized account drawdowns. In the shown example, controlled risk and consistent profit management ensures success. Intro Probability combined with random distribution is an important and often overlooked concept when it comes to trading. Mark Douglas brought the idea of random distribution to many retail traders with his book “Trading In The Zone'', but he is certainly not the originator of a concept rooted in data science and statistics. Our goal is to compress and synthesize these ideas so you’ll have a good understanding after reading this post. Traders who say things such as, “you need to make a large number of trades to make money”, or “don’t let the losses deter you from making more trades”, are ungracefully or unknowingly referring to probability and random distribution. Probability To understand how random distribution relates to trading we must first cover some basics of probability. If we flip a fair coin there is always a 50% chance the coin lands on tails. Each time we flip a coin the likelihood of landing on tails is identical, despite the fact we could flip heads five times in a row. This means the possibility of heads or tails turning up is unrelated to the previous flip. The result of each flip is random relative to the last flip due to circumstances we cannot control, such as the pressure applied to the flip, the airflow in the room, the landing spot, and numerous other factors. Let’s now pretend we rig the coin and change the likelihood of flipping tails to 55%. The same rules govern our new rigged coin – the result of each flip is unrelated and random in relation to the last flip. By rigging the coin in favor of tails we have not changed this fact, but we have tilted the outcome in our favor over many flips. In other words, if the rigged coin is flipped enough times, we will get more tails than heads. The increased probability of flipping tails is reflected over many flips of the coin, not on each individual flip. Random Distribution Once we understand the basics of probability, random distribution is simple to comprehend. If the result of flipping a rigged coin is unrelated to the last flip then the flips that produce tails are randomly distributed throughout a set of flips. For example, a sequence of flips could go: H,H,T,H,T,T,T,H,T,T – there is no discernable pattern in relation to tails turning up. Over a set of flips, however, our rigged coin lands on tails more often than heads. The increased likelihood of the coin landing on tails is reflected over many flips, not on each flip. What does all of this mean in real terms? Individual random events have a consistent outcome over a set of events when the odds are tilted in one direction. Relating The Concepts To Trading 1. Over a series of events where many unknown forces influence each event, the outcome of each event is unrelated to the previous event. In trading, this means the outcome of each market pattern is not related to the last instance of that same pattern. If a pattern results in a winning trade it does not mean the next instance of the pattern will also produce a winner, or vice-versa. 2. Over a set of events, the events that produce a favorable outcome are randomly distributed throughout the set. In trading, this means any attempt to predict which instance of a pattern will produce a favorable outcome is a waste of time. When you attempt to predict which instance of a pattern will produce a winner, you are saying you know what will happen next, which begs the question, if you can’t read the minds of the people who have the financial ability to move prices, how exactly do you know? Hint: you can never know exactly, despite the fact you can guess correctly from time to time. 3. Over a set of events, tipping the odds in one direction means the increased likelihood of a certain outcome is only reflected over many instances of the event. In trading, this means you need a pattern or strategy that tips the odds in our favor, but you must view many instances of your pattern or strategy to see the desired results. In other words, you must not view your trading exploits from trade to trade, but rather, over a sequence of many trades.
Education
by Level8Trading
2
The easiest way to make money tradingI'm going to show you one of the simplest, and most effective ways to trade. Period. Just about every other type of trading is speculation; this is not. This is making money regardless of where the market goes, and you don't even have to have a clue as to what the market is going to do next. I repeat: you do not need to know where the market is going to make money . In these pictures, every rectangle represents a cluster of small limit orders getting filled, with the anchor point (starting place) being a wick rejection. That's it! You'll notice that in almost all of those cases, the retracement from the limit block exceeds 100%, meaning 100% of the limit orders in that block are profitable. You only actually need to see the price retrace by 50% of that block to break even. This is why I laugh when people say "the trend is your friend". The counter-trend is your friend too. The market is your friend. You don't have to know where the price is going, and you can make money in either direction as long as you're placing your limit orders in a way that goes with the flow. You're trying to capitalize on liquidity 100% of the time, and liquidity is really, really common. You can literally place trades based on every single candle if you want to! If there is a wick, you can trade it. Even if you're wrong, having tiny limit orders spread out through a cluster based on that wick means your hard stop loss would be hit rarely. You should still definitely have a hard stop loss, just in case a doomsday scenario comes. So imagine you have a $2000 account. On a 1k (0.01 lot size), 10 pips is $1. Let's say you have 100 limit orders, separated by 1 pip each. 50 of your limit orders get hit, and then the price retraces by 50 pips. Given that your average entry point would be 25 pips (the halfway point), you would have made 25 pips profit on a 50k, meaning $125 profit on a very high probability trade. In those pictures, even the big moves don't hit all 100 of your limit orders, not at once. Not even 50 all at once. I'm not saying that doesn't happen obviously, but the probability of it happening is very low in relation to how frequently you'd be making profitable trades. So what you do is you either commission a script or write your own to deploy all these limits very quickly. I'm currently having one commissioned for me in MT5 which works very well. I can drag a horizontal line that serves as an anchor point, deploying x amount of limit orders with y distance between each other, z order sizes (0.01). I can even have them all share the same stop loss and take profit, or have SL/TPs a specific distance from each individual ticket. I'd show this stuff here, but TradingView doesn't like pictures coming from the outside. If you use metatrader 5 and would like my tools, feel free to message me. I'm not sure if I can edit this later, but I hope I can... I tend to rethink things a lot and hate having to finalize something. Anyway. I hope this helps.
FX:XAUUSDEducation
by WinkleTrades
10
Trend Rating IndicatorThe purpose of this indicator is to visualize the major trends with a minimum lag and a plot relatively true to the chart. Here for display and testing the candles are colored according to the main plot ("RATING"), but it is not necessary to use this option for the indicator to be useful. This indicator judges the asset on a multitude of factors and awards points that accumulate. - The RSI of all these ratings is displayed under the name "RATING". - A filtered version "Swing Gaps" which only appears in overbought or oversold, but show an area when the swing is complete. - Different crossover signals are available.
INDEX:BTCUSDEducation
by LOKEN94
4
A trick to record video ideas in Tradingview great sound qualityIn this tutorial, I'll show you how to publish a video you've already made to TradingView with good sound quality. You can also use this method to record sounds from other videos. So you can easily make your video with software like OBS and publish it with good sound quality. Also this method can be useful for those who have live stream or plan to create and record video ideas online on TradingView, when they want to play a video or an audio they have already prepared in good sound quality. I hope the video was helpful and if you have any questions be sure to leave a comment so that I can help you. Thank you!
SP:SPXEducation
by zarafshani20
12
HOW-TO: Build your strategy with Protervus Trading ToolkitHi Traders! This tutorial will show you how to build your own strategy and link it to Protervus Trading Toolking (PTT) . First of all, let me remind everyone that this content should be considered educational material, and backtesting results are not a guarantee. My goal is not to provide ready-made strategies, signals, or infallible methods, but rather indicators and tools to help you focus on your own research and build a reliable trading plan based on discipline. So, without further ado let's start building our first strategy! For this tutorial we'll build a simple EMA Cross strategy and add the Chaining Snippet to link it to PTT. The first step is to create a new indicator in Pine Editor and add the initial requirements: //@version=5 indicator("EMA Cross (data chaining)", overlay = true) Let's now create the inputs where we will be editing EMAs' length: FastEmaLen = input.int(50, title = "Fast EMA Length") SlowEmaLen = input.int(200, title = "Fast EMA Length") At this point we can proceed by calculating the two EMAs: FastEma = ta.ema(close, FastEmaLen) SlowEma = ta.ema(close, SlowEmaLen) We are now ready to script our Entry conditions: BullishCross = ta.crossover(FastEma, SlowEma) BearishCross = ta.crossunder(FastEma, SlowEma) We also wish to see the two EMAs plotted on the chart, so we will add the following code: plot(FastEma, color = color.new(color.green, 0)) plot(SlowEma, color = color.new(color.red, 0)) At this point, our code should look like this: Great, we are now ready to add PTT Snippet by pasting all the code at the end of the one we just wrote. Let's head to the CONDITIONS INPUTS section and replace the placeholder text for EntryCondition_1 , giving it a proper name: EntryCondition_1 = input.bool(true, 'Ema Cross', group = 'Entry Conditions') We can also add null to the unused inputs to clear the settings panel: ADDING ENTRY CONDITIONS We'll now be adding our Long and Short Entry conditions in the ENTRY \ FILTER CONDITIONS section. In LongEntryCondition_1 we should replace null with BullishCross : LongEntryCondition_1 = BullishCross Same for ShortEntryCondition_1 down below: ShortEntryCondition_1 = BearishCross Guess what? We're done! We just added our Entry conditions: We can now compile the script and add our indicator to the chart, along with PTT. Let's open PTT and select "EMA Cross (data chaining): Chained Data" in the Source Selection drop-down menu - the data will now be forwarded to PTT and we can start tweaking the settings to experiment with our new strategy: ADDING EXIT CONDITIONS Let's say we now also want to add an Exit condition for when the price goes above (or below) the fast EMA, signaling a trend reversal: we can do that in no time! Go back at the top of the code, and right after our EMA calculations, add: PriceAboveFastEma = ta.crossover(close, FastEma) PriceBelowFastEma = ta.crossunder(close, FastEma) Of course, we also need to add the newly created conditions in the snippet code. Let's find the section EXIT CONDITIONS and, just like our Entry conditions, we can replace the null placeholder with our actual conditions: LongExitCondition_1 = PriceBelowFastEma ... ShortExitCondition_1 = PriceAboveFastEma If we also want to use these conditions as Stops, we can add them to the STOP CONDITIONS section: Note: Exit Conditions will close the trade in profit, while Stop Conditions will close the trade in loss. Still, you should not worry about scripting it yourself: PTT will take care of analyzing the trade and separate Exits from Stops when the signal to close the position is received. ADDING FILTER CONDITIONS Besides using our indicator to open and close trades, we can also use it to filter the signal from another, chained indicator. To keep this tutorial simple, let's use the same EMA Cross script, so we can add it again to the chart and use the first one as Signal, and the second as Filter. Let's add our Filter conditions in the script: FastAboveSlow = FastEma > SlowEma SlowAboveFast = FastEma < SlowEma Just like we did in the previous steps, we should now add the option in the settings panel and the Filter conditions in the snippet code: CHAINING INDICATORS We currently have one EMA Cross indicator working as Signal in the chain, linked to PTT on the chart: Let's copy-and-paste the EMA Cross indicator (or add it again) to have two of them. The first one on the chain will act as Filter, so in the settings let's give the two EMAs a longer length (e.g. 250 and 300) in order to verify the trend and discard signals received when it's not favorable. Remember to set output mode as Filter, and tick the Filter box. The second one will be our Signal: we can choose the length of the two EMAs we will use as Entry \ Exit when a cross happens (e.g. 100 and 200), enabling our Entry and Exit conditions by ticking the boxes. This time, we will tick the "Receive Data" box, and select the Chained source of the Filter: If before linking the Filter you already had the Signal linked to PTT, you will notice it automatically recalculates the data - and if our Filter works as intended, the improvements will be visible ;) EXTRAS If your indicator doesn't plot anything on the chart, we must enable a "Dummy Plot" in order to prevent issues, since we are sending chained data as an invisible plot and it cannot be the only plot in the code. Just un-comment the line plot(close < 0 ? close : na, title='Dummy Plot') to avoid this problem: ADDING SIGNALS MARKERS PTT will show all labels and markers for trades, but if you wish to have them on the indicator or just to debug your signals, you can enable and customize the last lines in the snippet: CHAINING SCHEMA |-- Filters (optional, any number of filters - linked one to another) |---- Signal (mandatory, only one indicator must be set to Signal - in case of multiple Filters, Signal must be linked to the last Filter in the chain) |------ Protervus Trading Toolkit (linked to Signal) |-------- PTT Plugins (Strategy Wrapper, Trade Progression, etc - linked to PTT) NOTES - When you chain an indicator, its source remains "locked" even if you un-tick the Receive Data box. If you wish to use that source on another indicator you should un-link it first (just select "Close" as source to free the indicator's chain output). - If you remove indicators in the chain, all other indicators linked AFTER it will be deleted - to prevent this, you should un-link chained indicators before removing them. - Pine Script is limited to one source input per indicator, so you cannot chain indicators that let you choose another source to calculate data: for example, if you have an RSI indicator with a source selection ( input.source ) you must remove that input and only use the one for chaining. You can read more on PineScript Reference page.
FTX:BTCUSDEducation
by Protervus
2
What is Spread in Trading | Trading Basics 📚 Hey traders, It turned out that many newbie traders completely neglect spreads in their trading. In this post, we will discuss what is the market spread and how it can occasionally spoil a seemingly good trade. 💱No matter what financial instrument we trade, in order to buy the asset we need to have a counterpart that is willing to sell it to us and vice versa, if we want to sell the asset, we need to have someone to sell it to. The market provides a convenient exchange between buyers and sellers. The asset price is determined by a current supply and demand. However, even the most liquid markets have two prices: bid and ask. 🙋‍♂️Ask price represents the lowest price the market participants are willing to sell the asset to you, while 🙇‍♂️bid price shows the highest price the market participants are willing to buy the asset from you. Bid and ask price are almost never equal. The difference between them is called the spread. 📈The spread size depends on liquidity of the market. 📍Higher liquidity implies bigger trading volumes and greater number of market participants, making it easier for them to make an exchange. On such markets we see lower spreads. 📍From the other side, less liquid markets are categorized with low trading volumes, making it harder for the market participants to find a counterpart for the exchange. On such market, spreads are usually high. For example, current EURUSD price is 1.0249 / 1.0269. Bid price is 1.0249 - you open short position on that price. Ask price is 1.0269 - you open long position on that price. The spread is 2 pips. ❗️Spreads must always be considered in a calculation of a risk to reward ratio for the trade. For scalpers and day traders, higher than usual spread may spoil a seemingly good trade. Always check spreads before you open the trade. In 2020, for example, we saw unusually high spreads on Gold during UK/NY trading sessions. Spreads were so high that I did not manage to open a trade for a couple of days. Not considering spreads in such a situation would cost you a lot of money. Do you consider spread when you trade?🤓 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Education
by VasilyTrader
3
Is mindset holding you back 🤔Trading can be a rollercoaster of emotions. Many traders are unaware of when their state of mind leads to underperforming trades and why it happens. We are all different and unique when it comes to trading, and understanding the type of trader you are is essential to your success. Traders can spend a lot of time studying technical indicators and strategies, but understanding the psychology driving your trading decisions is just as important. The first starting point of getting on the right path in regards to trading psychology and emotions is by having the right one of two mindset choices. There's two mindsets which will effect your trading results and progress massively. They are 'Growth mindset' and 'Fixed mindset' Of those two mindsets there is only a place for one when it comes to trading and that is 'GROWTH MINDSET' The graphic on chart shows the difference between the two mindsets. If you can't ditch the 'Fixed mindset ' you will never be able to progress in trading. No matter how great of a trader you think you are, or how well you think you handle your emotions. It's impossible to remove them from the equation completely when trading. When emotions are combined with a 'Fixed mindset' mentality however you are going to feel emotional pain and loss of money when it comes to your trading. Once you have learned to recognise your mindset, you can then begin the next important step of switching to the ' Growth mindset ' People with a ' Fixed mindset ' believe they are born with a certain amount of intelligence and that it is fixed for the rest of their lives. People with a 'Growth mindset ' however know that intelligence is not fixed and that you can in effect grow your brain. They see their traits as just a starting point and know that these can be developed by hard work, effort, dedication and challenge. Having a growth mindset can improve your progress and attainment and this is crucial in being successful as a trader. The brain can be developed like a muscle, changing and growing stronger the more it is used. Your abilities are also very much like muscles they need training in order to perform at their peak. You can learn how to do anything you want to do and you can get better at whatever that is with time and consistent practice. Even if you have what you perceive to be a talent or ability for something, if you never practice that talent or ability you simply will never improve. Applying this theory to your trading game will help you grow not just your accounts but as a person also. Get that 'Growth mindset' and start believing in your ability to change. Thanks for looking. Darren 🙌
Education
by pow_removetheguesswork
3
Trading Hours and Market ClockTime Zone: UTC + 4:30 01. Wellington NZX: 02:30 am - 09:15 am 02. Sydney ASX: 04:30 am - 10:30 am 03. Tokyo JPX: 04:30 am - 10:30 am 04. Singapore SGX: 05:30 am - 01:30 pm 05. Hong Kong HKEx: 06:00 am - 12:30 pm 06. Shanghai SSE: 06:00 am - 11:30 am 07. Mumbai NSE: 08:15 am - 02:30 pm 08. Dubai DFM: 10:30 am - 03:15 pm 09. London LSE: 11:30 am - 08:00 pm 10. Zurich SIX: 11:30 am - 08:00 pm 11. Frankfurt FWB: 11:30 am - 08:00 pm 12. New York NYSE NASDAQ: 06:00 pm - 12:30 am 13. Toronto TSX: 06:00 pm - 12:30 am
BINANCE:ETHUSD.PEducation
by yaser_rahmati
How to understand the market movement?BINANCE:BTCUSDT When you just open charts for the first time, the market movement seems chaotic: incomprehensible bars, lines, and so on remind us of a medical cardiogram. Here we have only one very important question: "How to understand the market movement?". In fact, everything is simpler than it seems. Let's start with a classic trend move. There are two camps on the market - "Bulls" and "Bears". Bulls - buy (raise the price values ​​up), and bears - sell (lower the price values ​​down). Our task is to determine who is stronger in the market. This is the definition of the power of movement. Market movement consists of a trend movement and a sideways movement. If the price lows and highs are higher than the previous ones, this may indicate the strength of the Bulls (uptrend), if the lows and highs are lower than the previous ones, the strength is on the side of the Bears (downtrend). When there are no clear higher/lower lows and highs then it is a sideways move. Let's start from the most important. There are two phases in a trend movement: 1) Main movement 2) Correction. Let's take an upward movement as an example: From the very beginning, you should have an understanding that the trend is your friend. 70-80% of trades should be opened strictly in the main direction of movement, and only 20-30% - against it (trades that are opened in the direction of correction). In the downward movement, everything is exactly the opposite. In the case of lateral movement, the main factors for work are the boundaries of lateral movement. Also, when working with trend movement, do not forget to look at the background timeframes. What are timeframes in general and which ones are the main ones and which are the background ones? Timeframe (tf) is a certain period of time for which a candle is formed. The change of tf gives us the opportunity to look inside each candle. So one daily candle (1D) contains six four-hour candles (4H), and one four-hour candle (4H) contains sixteen fifteen-minute candles (15M) and so on. Each timeframe carries certain information for analysis. We can mark for ourselves the main timeframes: 1D 4H 1H 30m 15m 5m 1m All other timeframes will act as intermediate (background) ones for us. How to understand which timeframe is more important? 1D or all the same 1H? In fact, there is no one important TF. As we pointed out earlier, each carries important information. Whether it is 5m or 1h, they are equally important for analysis. There is only a sequence of analysis and trend definition. From older to younger. You must take into account all timeframes, carefully analyze each of them, not missing a single detail. Every factor you have should be "fractal" - displayed on lower TFs. Do not rack your brains and do not look for “golden” information on the Internet “how to determine the trend”, just determine the highs and lows on the chart and everything will fall into place. Also, the trend cannot be predicted. You can't think of yourself "Now the trend will begin" - No! It is determined "by the fact" of its formation. The optimal time for crypto trading is determined by the opening of stock trading sessions, as practice shows, this is a highly volatile time on the market. Within these trading sessions, there is a specific time that shows the main volatility at a distance. This time is the most successful for trading. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! * Look at my ideas about interesting altcoins in the related section down below ↓ * For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
"Stop it, Picasso! Trading should be kept simple."Quick question: which of the two illustrations portrayed on the graph do you enjoy more? If your preference is the one on the right, then you should have definitely continued the legacy of the Renaissance era artists. On the contrary, if you prefer the one on the left-hand side of the screen, let’s become friends. Starting with the portrait (let’s put it that way) on the left, we can observe how everyhting is illustrated in a crystal clear way. Firstly, no indicators have been used, which makes it easier for us to read the chart. Second, it has been shown that with as few as 2-3 confluences, a trade has been executed. On the opposite side of the road, we have the portrait which is depicted on the right side of the screen. We can see how blurry, messed up and confusing it all looks. Two random EMA’s crossing each other, ABCD patterns, Elliott Waves, tens of thousands of Fibonacci retracement levels, random Support&Resistance levels and many other indicators have been added into the chart with zero purpose. Yes, indicators could and should be used as confluences. However, by adding tens of indicators into your charts, you are not beating the market. Just like in real life, everything should be utilised in moderation. The purpose of this idea is not trying to damage the reputation of indicator trading, but to show that pure price action will always be the king. Many beginning traders get tricked into believing that by adding multiple indicators into their charts, they will have a high win rate, a successful trading journey, long-term profitability. Little do they know that many indicators contradict to each other and perplex novices into entering random positions. Of course, as we always say, if it works for you, then go for it. Chart analysis is only a part of your trading plan. There is also psychology, risk management, discipline and so forth.
BITSTAMP:BTCUSDEducation
by Investroy
47
53 pip profit + Horizon wins yet again! + New Horizon tradeIf these ranges lasted forever, I wouldn't mind at all. I took 53 pips this morning long, this was something I posted 2 times about last night and this morning, so check those out for a more in depth look at the signals that lead to that move. It's really important in this market to be in before the move happens, you miss out on a lot of money, and your exposure almost triples when you chase the market. Remember that. Horizon took 76 pip profit today from last Friday. That's nearly 50 pips net, since the beginning of this range. It took a 60 pip loss after being up almost 80 pips on Thursday. It couldn't find a valid exit, which is annoying considering that this strategy could have produced over 140 pips in profit last week. Trust me I've played with trailing stops and static profit targets with this strategy and they just don't work nearly as well as just letting trades run and waiting for a strong exit signal. Trade number 3 was the worst loss Horizon has taken to date, I mentioned earlier that Horizon assesses stop losses on bar close and not in real time, so the strategy is exposed adversely to large break out candles like the one in the picture below. This is a risk that I'm willing to accept though because A. Horizon mitigates that risk using multiple confirmation protocols and B. the RR is 3-4 times the losses. This strategy is designed to take 30-50 pips on average, with occasional 100-200 pip trend. As things stand, Horizon's average loss is only about 20-30 pips. Plus Horizon's wining 6-7/10 at this point so it's all good! Plus I'm adding some logic this week that I'm hoping will boost performance even further. So far it's 2/3 and currently 30 pips up on it's 4th live trade. That said if I DID find a better alternative to this stop loss strategy, I would more than likely cut my max draw down in half. It's sitting at about 8-9 right now, which I would love to get down to about 5% using the same risk. Horizon's current exposure is 1.7% per trade because of the draw down rules that FTMO and other prop firms put in place. With my own capital, I could easily raise that to 2-3%, I don't really want to though (yes I do) Horizon , like I mentioned has pyramided a short trade which has been as high as 35 pips profit, so far, so this one's looking like a winner as well. Overall that's 150 pips taken between me and the machine in the last 4-5 days, so very happy, and I'm praying for even further success in the coming weeks. I'll link each post so you can audit my trades. I post these trades well before the moves actually happen.
Education
by NeoDaNomad
2
Trading Sessions in Forex | Trading Basics 🕰🌎 Hey traders, In this post, we will discuss trading sessions in Forex. Let's start with the definition: Trading session is daytime trading hours in a certain location. The opening and closing hours match with business hours. For that reason, trading hours are varying in different countries because of contrasting timezones. ❗️Please, note that different markets may have different trading hours. Also, some markets have pre-market and after-hours trading sessions. In this post, we are discussing only forex trading hours. The forex market opens on Sunday at 21:00 GMT and closes on Friday at 21:00 pm GMT. There are 4 main trading sessions in Forex: 🇦🇺 Australian (Sydney) Session Opens at 21:00 GMT and closes at 06:00 GMT 🇯🇵 Asian (Tokyo) Session Opens at 12:00 GMT and closes at 9:00 GMT. 🇬🇧 UK (London) Session Opens at 7:00 GMT and closes at 16:00 GMT. 🇺🇸 US (New York) Session Opens at 12:00 GMT and closes at 21:00 GMT. Asian trading session is usually categorized by low trading volumes while UK and US sessions are categorized by high trading volumes. Personally, I trade the entire UK session and US opening and usually skip Australian and Asian sessions. What trading sessions do you trade? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Education
by VasilyTrader
2
Types of Orders In Trading | Trading Basics 🤝💱 Hey traders, In this post, we will discuss types of orders that we use in Forex trading. ➖ Market order. Trading position is opened at a current price level. Buying the asset, you will open a trading position at a current ask price. Selling the asset, you will open a trading position at a current bid price. Even though market order is the most preferable type of orders among newbie traders, I highly recommend not to use that, especially if you are a day trader. ❗️The main problem is that prices constantly fluctuate and there is a certain delay between order execution and position opening. For these reasons, the position will be opened from a random price level within the range where the market is currently staying, affecting a risk to reward ratio. ➖ Limit order. Trading position will be opened only from a desired price level. With buy limit, you will buy the asset from a certain level. (current price remains above the order) With buy stop order, you will buy the asset from a certain level. (current price remains below the order) With sell limit, you will sell the asset from a certain level. (current price remains below the order) With sell stop, you will sell the asset from a certain level. (current price remains above the order) That is the order type that I prefer. Limit order helps you to trade from a desirable level, automatically executing the order once it is reached, letting you preliminary set it. ❗️However, remember that there is one big disadvantage of that order type: there is no guarantee that the price will reach the desired price level to activate a trading position. For that reason, occasionally you will miss the trades. Try these order types on a demo account to learn how they work in practice. Which order type do you prefer? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
9
Become a better trader by just answering these questions!Hey Traders! Most people think that trading success is found within a system... yet a successful trading system could be something as simple as 2 or 3 basic combinations, knowledge of price action and a sprinkle of instinct. To me successful trading is a completely different path, I believe that real trading success falls into one sentence which is "Constant and never-ending improvement", self-improvement that is, and in today's post, since it is the weekend, I want to go over this core improvement process with you so you too can become a better trader next week! First to make it clear, I believe that out of the 100% required for trading success the system part falls into the low 10%, while the other 90%+ is within you, it is your knowledge, knowhow, instinct, mindset and everything else that makes you... you. The system is something you learn once and all you have to do is follow it forever with consistency and focus, sounds simple right? It kind of is but we humans tend to make it complicated. Anyway, its Saturday the 9th of July and I want to give you 6 questions that if you answer will make you better by at least 1% right away, but if you continue to answer these questions each time you will, guaranteed no matter what (as long as you are honest) get better by 1% each time, how much better you become in entirely up to you, and by that I mean how honest you are and how consistent you are in answering these questions! So, without anymore delays, here are the 6 questions that can make you a better trader: What was my biggest loss and why? What was my biggest profit and how? What was the best thing I did this week? What am I most excited about for the upcoming week? Did I follow my system on every trade? Was I in control of my trading, mentally, every time I traded? BONUS QUESTIONS: What prevented me from doing better? What motivated me most? What will I not repeat next week? What will I repeat next week? What do I want to remember it for? What is the best highlight? What do I regret not doing? Do you have any of your own questions that could help other traders? - Do share in the comments!
BITSTAMP:BTCUSDEducation
by PrimedGroup
Visualizing Time Frame ContinuityThis is the simple version of the visual exercise. You will be looking at the relationship between price and TFC on the 1 minute chart as it interacts with the opening of the 1 Hour candle 1. Choose a 1 hour candle. Here I chose the 12:30 to 1:30 candle on the 27th of June 2022. (Candles with wicks will be better for this since they are range candles and tend to move across your line more) 2. Draw a line marking level where the 1 hour candle opens. 3. Go to the 1 minute chart. 4. Draw a box from the first 1 minute candle to the last 1 minute candle inside that 1 hour period 5. Using the replay function on the 1 minute chart go to the first candle on that 1 hour block and hit play. 6. Watch how every time the price is over the line you drew, the indicator shows the H as green and with (up) TFC and when its below its down and red.
NASDAQ:TSLAEducation
by JCX2099
(Tutorial) World Markets & their affect on Indian Stock Market!Hello Traders/Investors, Lets learn World Stock Markets and How it affect us in India on Daily/Weekly and even on long-term basis. Note: this topic is specifically for Traders (specially Day traders) and also Investors might find it interesting read. - US is called mother market and we're (i.e. Indian stock market) child market. - US market gives a queue on how world and our market would perform based on it. - Sectors like Banks (Dow Jones Bank index) n Tech/IT (NASDAQ) work pretty hand in hand with rest of world in terms of giving us a idea of direction towards which sector can have chances of moving by how much %age today. - - SGX Nifty , its a Nifty's Future contract which is traded in Singapore Exchange and gives a good idea on start of our markets. SGX Nifty timings : 6.30 AM to 11.30 PM - Asian markets specially South Korea, Hang Seng n Japan market we should watch carefully in morning to track the direction of markets. We belong to pretty much similar basket. - European Markets, CAC, DAX and FTSE we should get a median of these 3 exchanges to know how much %age they're moving. Just an observation here, our Indian markets usually stay closer to DAX movement. - Emerging markets (short form : EMs) : Emerging markets generally do not have as highly developed market and regulatory institutions as those found in developed nations. Market efficiency and strict standards in accounting and securities regulation are generally not on par with advanced economies (such as those of the United States, Europe, and Japan). - Some of the most rapidly emerging countries include Brazil, Turkey, Russia, India, and China. Also some oil rich nations are also part of this list. - To get a holistic picture of world markets.. get a queue from yesterday's closing of world markets specially US alongwith US futures which are very important. - Then, in mornings look at Asian Markets n SGX Nifty to understand where our markets might open. Around afternoon when European markets open you get an idea where our Indian market might stabilise n close. Also, we can look at European futures to get idea on where Euro markets might open. - Lastly macro economic data like Commodity prices specially Crude oil , USD INR n Dollar Index give a clarity on the markets. Higher Dollar n lower Rupee would cause panic in stock markets usually. Similarly, higher crude oil prices indirectly reduces countries foreign reserves n also affect business due to rising transport costs causing more expenses n less income. - Cryptos movements can also affect markets now days, a big downmove on cryptos n hit many stop losses n cause for margin calls n hence companies might have to liquidate other assets of individuals like stocks etc. go get back their money. - Honest mentions: Sometimes some macros are in news, then in those days stock markets start mimicking their charts.. it can b currency pair USDINR , US 10yrd BOND yield, Crude OIL sudden surge or drop in prices and most recently, NIFTY is pretty closely mimicking the US30 futures chart trend on day trades. - My personal hack: I do all my Technical Analysis on these charts n not just on NIFTY and BANKNIFTY etc. I draw all the Supply n Demand zones, Channels, Trendlines etc. to get queues from them to implement it on my trading in Intraday in India. Usually it works like a charm! World major stock markets timings in IST (i.e. Indian Standard Timings) : North America Stock Exchange Timings: Country Stock Exchange Opening Time (Indian Timing) Closing Time (Indian Timing) US NASDAQ 7 : 00 PM 1 : 30 AM US NYSE 7 : 00 PM 1 : 30 AM Canada TMX Group 8:00 PM 2:30 AM European Stock Exchange Timings: Country Stock Exchange Opening Time (Indian Timing) Closing Time (Indian Timing) UK London Stock Exchange 1 : 30 PM 10 : 00 PM European Union Euronext 12:30 PM 9:00 PM Germany Deutsche Borse 12:30 PM 2:30 AM Switzerland SIX Swiss Exchange 1:30 PM 10:00 PM Spain BME Spanish Exchange 1:30 PM 10:00 PM Asia-Pacific Stock Exchange Timings Country Stock Exchange Opening Time (Indian Timing) Closing Time (Indian Timing) Australia Australian Security Exchange 5:30 AM 11:30 AM Japan Japan Exchange Group 5:30 AM 11:30 AM Hong Kong Hong Kong Stock Exchange 6:45 AM 1:30 PM China Shanghai Stock Exchange 7:00 AM 12:30 PM China Shenzhen Stock Exchange 7:00 AM 12:30 PM Taiwan Taiwan Stock Exchange 6:30 AM 11:00 AM South Korea KRX Korean Exchange 5:30 AM 11:30 AM India NSE and BSE 9:15 AM 3:30 PM You can google n find most of Live market details on many websites, I usually enjoy Investing .com for their simple UI and charts. Please take all positions at your own risks and these are my personal views on analyzing markets. I'm not responsible for any losses incurred by you! Regards, Anshul
NSE:NIFTYEducation
by simplyansh