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Real Example of a TRADING PLAN Revealed Hey traders, In this post, we will discuss 6 crucial things in your trade planning and the main elements of trade results assessment. 1️⃣ - Before you open a trading position, make sure that you analyzed the chart. You should identify a market trend and spot major key levels. Here on WTI Crude Oil I have analyzed key levels and came to the conclusion that the market is trading in sideways. 2️⃣ - Once the chart is analyzed, you should identify the safest trading areas for your strategy (preferably the zones of supply and demand). You should patiently wait until one of these zones is tested. Back to our example. The support that the market is approaching is a safe area to buy from. 3️⃣ - Once the zone is reached, you should look for a confirmation. You can either look for a reversal candlestick/price action pattern, some fundamental trigger, or some indicator. The point is that you should rely on a trigger that is backtested and that proved its accuracy. In our example, the confirmation pattern - the ascending triangle is spotted on lower time frames. 4️⃣ - Getting your confirmation, you should have a precise entry strategy. Some traders prefer aggressive entries on spot while others are waiting for a retest of some major/minor level. Trading Oil, the perfect entry point will be on a retest of a broken neckline of a triangle. 5️⃣ - You must set a stop loss. Remember that your stop-loss defines the point where you become wrong in your predictions. Be extremely careful on that step and give the market some space for fluctuations. Back to our example - our safe stop loss will be below the lows. 6️⃣ - Know your exact target level(s). Know the point where you start protection of your position, where you start profit-taking. Be very strict and don't let your greed and fear intervene. Returning to our trade, the Perfect target level is based on a closes strong resistance. Only then a trading position is opened. No matter what will be the end result of your trade, you should assess it: 1️⃣- You should journal the trade outlining its end result, trading instrument, and your entry reason. 2️⃣ - Note any peculiar thing about this trade that you noticed. 3️⃣ - Record your gain/loss percentage. 4️⃣ - Identify whether any mistake was made and if so, learn from that. Here is your minimum plan to follow. Of course, as you mature in trading your trade assessment plan will be more sophisticated. Do not underestimate its importance and treat it as the main element of your trading routine. Let me know, traders, what do you want to learn in the next educational post?
Education
by VasilyTrader
8
Mastering Pro Forex and Gold Trading As a professional forex and gold trader, it's essential to understand the anatomy of successful trading. From market analysis to risk management, there are specific body parts, or components, that make up a successful trader. Here's a breakdown of each component and its role in pro trading. 👁 Eyes - Market Analysis Successful traders know that the markets are dynamic, and they must keep a keen eye on market trends and data. By scanning the markets, using technical analysis, and fundamentals-based analysis, traders can make informed trading decisions. 🧠 Brain - Discipline and Strategy Traders must have the discipline to stick to their trading strategy and be ready to pivot when necessary. Having a clear trading plan and risk management strategy is essential, and traders must keep a cool head in the face of market volatility. ❤️ Heart - Risk Management In trading, you need to know when to hold 'em and when to fold 'em. Successful traders must have a heart for risk management and know how to manage their trading capital effectively. 🙌 Hands - Execution To execute good trades, you must have nimble hands that can take swift action when the opportunity presents itself. Traders must know how to enter and exit trades quickly and efficiently to maximize profits and minimize losses. 👂 Ears - Listening to the Market Experienced traders know that the market can be unpredictable, so it's essential to actively listen and take in information from various sources to stay on top of trends and changes in market sentiment. 🦵 Feet - Adaptability Successful traders must be able to pivot and adapt to sudden changes in the markets. Whether it's political unrest, natural disasters, or unexpected market moves, traders must be able to react quickly and adjust their trading strategy accordingly. 👄 Mouth - Community and Networking Experienced traders know that trading is not a solitary endeavor and that community and networking are essential to successful trading. Sharing knowledge, joining trading communities, and networking with fellow traders can provide valuable insights and support when trading. By understanding the anatomy of pro forex and gold trading, traders can develop the mindset and skills necessary to succeed in trading. From market analysis to risk management, each component plays a critical role in successful trading. Physical attributes like hands and feet can be developed with practice, but the heart and the brain are equally important, and they require discipline, strategy, and adaptability to thrive in the ever-changing world of trading. Please, like this post and subscribe to our tradingview page!👍
BITSTAMP:BTCUSDEducation
by EliteTradingSignals
9
“Well, not everybody understands the patterns” Limitless 2011 In the movie Limitless (2011), Eddie Morra (Played by Bradley Cooper) takes a mysterious pill, NZT-48 , that turns him from a struggling writer to a financial wizard . The pill unleashes 100% of his cognitive power, transforming him into an intellectual powerhouse. About 40 minutes in, there is a scene. Hank: "Pattern recognition. That's your snake oil?" Eddie: "Well, not everybody understands the patterns." Why am I sharing this? Well, because not everybody understands the patterns, especially most traders. Did you know that chart patterns actually work? Not all patterns work, just some of them. Although there are numerous patterns in technical analysis books, many of them are actually snake oil. Take, for example, the Bull Flag; this is a Flag pattern occurring in an uptrend, usually during a bull market. The flag pattern is proven* to be snake oil; it is no more than a 50/50 chance of success. Only one flag pattern works; it is called a high tight flag* and works 85% of the time. The chart above (NVDA) is an example of one of the most accurate and successful patterns in technical analysis. The Inverse Head and Shoulders. The inverse head and shoulders is a well-known chart pattern. But how reliable is it? Based on thousands of tested trades from 1996 to 2020, it has an 89% success rate and an average price increase of 45%. Two decades of research* shows an inverse head and shoulders chart pattern has an 89% success rate for a reversal of an existing downtrend during a bull market. When this pattern works, it averages a price increase of 45%; this is one of the most reliable chart patterns. In fact, the NVIDIA chart above made 43% and has exceeded the target. Trading is a Game of Probabilities Trading is definitely a game of probability, but few traders understand the actual probability of each trade. Now that you know the inverse head and shoulders is 89% successful with an average upside of 45%; you can assess your risk/reward and make better trades. Sure, there is an 11% chance of failure and a lower-than-average price increase, but now you know the odds. Take TradingView's NZT-48 Pill In the movie Limitless, Eddie takes the NZT-48 pill and becomes a top trader. But did you know that TradingView is like the NZT-48 pill? How? Because the inverse head and shoulders pattern in NVIDIA (chart above) was discovered and annotated with TradingView's pattern recognition algorithms . TradingView does the hard work for you; it even sets the correct price target and lets you know when it is reached. If you are trading and not using TradingView's in-built pattern recognition, you are not utilizing the NZT-48 superpower. How to Turn On Pattern Recognition in TradingView Click Indicators > Technicals > Patterns Next, select the patterns you want.** I hope this was useful; if you like, hit like. If you want more, hit follow. Happy trading, traders! *Source: The Encyclopedia of Chart Patterns (2021 Wiley) by Tom Bulkowski **I would not recommend using the Pennant Patterns; they are proven not to work.
NASDAQ:NVDAEducation
by liberatedstocktrader
10
5 Potential Outcomes of Trading Gold or Forex Trading gold or forex can potentially lead to various outcomes, both positive and negative. Here are five potential outcomes to consider: 1. Profitable Outcome: Trading in gold or forex can result in profits, which is the ultimate goal of any trader. A trader can make gains if the asset’s value increases, and they sell the asset at a higher price than their entry price. 2. Loss: Trading involves risk, and traders can lose money due to a decline in asset value. Traders should use stop-loss orders to minimize their losses if prices move against their positions. 3. Break-Even: In some cases, the market price may not move in favor of traders or against them. In this case, the trader could exit the trade without making any profits or losses. 4. Margin Call: Trading on margin means borrowing money from the broker to execute trades. If traders use too much leverage and losses exceed their account balance, they get a margin call. This means that the broker will close their position automatically, resulting in a loss. 5. Hold Position: Traders can hold an open position for a long time to wait for the market to move favorably, also known as long-term trading. In conclusion, trading in gold or forex can result in profits, losses, break-even, margin calls, and long-term trading. Traders should consider all of these potential outcomes before opening a trade and implement risk management strategies to minimize losses. Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
9
⚖️OPTIONS TRADING: What are the Greeks?The Greeks are a set of mathematical measures used in options trading to assess and quantify various factors that influence the price and behavior of options. 📌 VEGA : Vega is a measure of how much an option's premium will change in response to a 1% change in implied volatility. Implied volatility represents the market's expectation of the underlying security's future movement. When implied volatility is high, options tend to be more expensive, and when it is low, options are cheaper. Vega is particularly influential for options with longer expiration dates, as volatility has a greater impact on their prices. As an option approaches expiration, Vega decreases, while it increases as the underlying security moves closer to the strike price. Essentially, Vega is highest when the option is at-the-money and decreases as it goes out-of-the-money or in-the-money. 📌GAMMA Gamma, represents the rate of change between an option's Delta and the price of the underlying asset. Higher Gamma values indicate that even small price changes in the underlying stock or fund can cause significant changes in the option's Delta. At-the-money options have the highest Gamma because their Deltas are most sensitive to underlying price movements. For instance, if XYZ is priced at $100.00 and a XYZ $100.00 call option is considered at-the-money, any price movement in either direction will push the option into either in-the-money or out-of-the-money territory. This high sensitivity to stock movement is reflected in the option's Gamma, making Gamma higher for at-the-money options. 📌THETA Theta represents the theoretical daily decay of an option's premium, assuming all other factors remain constant. As time passes, options gradually lose value, and this loss is known as time value decay. The decay of time value is more significant as the expiration date approaches, particularly for near-the-money options. Theta does not behave linearly; instead, it accelerates as expiration nears. A higher Theta indicates that the option's value will decay more rapidly over time. Short-dated options, especially those near-the-money, tend to have higher Theta because there is greater urgency for the underlying asset to move in a favorable direction before expiration. Theta is negative for long (purchased) positions and positive for short (sold) positions, regardless of whether the option is a call or a put. 📌RHO Rho measures an option's sensitivity to changes in the risk-free interest rate and is expressed as the amount of money the option will gain or lose with a 1% change in interest rates. Changes in interest rates can affect an option's value because they impact the cost of carrying the position over time. This effect is more significant for longer-term options compared to near-term options. Higher stock prices and longer time until expiration generally lead to greater sensitivity to interest rate changes, resulting in higher absolute Rho values. Rho is positive for long calls (the right to buy) and increases with the stock price. It is negative for long puts (the right to sell) and approaches zero as the stock price increases. Rho is positive for short puts (the obligation to buy) and negative for short calls (the obligation to sell). 📌DELTA Delta is a measure that estimates how much an option's value may change with a $1 increase or decrease in the price of the underlying security. Delta values range from -1 to +1, where 0 indicates minimal movement of the option premium relative to changes in the underlying stock price. Delta is positive for long stocks, long calls, and short puts, which are considered bullish strategies. Conversely, Delta is negative for short stocks, short calls, and long puts, which are bearish strategies. A Delta of +1 is assigned to long stock shares, while a Delta of -1 is assigned to short stock shares. An option's Delta can range from -1 to +1, and the closer it is to +1 or -1, the more sensitive the option premium is to changes in the underlying security. 👤 @QuantVue 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
9
👻3 Steps To Become A Professional Trader👻 Becoming a professional trader is not an easy task. While trading may seem exciting and lucrative, it requires dedication, discipline, and a sound understanding of the markets. In this article, we’ll share with you three key steps to becoming a professional trader. 🌺Step 1: Build a Strong Foundation Before beginning your journey as a trader, it’s essential to build a strong foundation. This involves educating yourself about the financial markets, including learning about different trading strategies, technical analysis, risk management, and market psychology. The good news is there are plenty of resources available online to learn about trading principles and strategies. Another part of building a strong foundation involves studying the market and practicing with demo accounts. Demo accounts allow you to practice trading in a simulated environment that replicates the real market. 🌸Step 2: Develop a Trading Plan Developing a trading plan iscrucial to becoming a successful trader. A trading plan should outline your objectives, risk management strategies, trading rules, and decisions about entry and exit points. It would help if you also identified what type of trader you are, whether that’s a day trader, swing trader, or a position trader. A trading plan gives you a framework to base your trading decisions on, which can help you remain disciplined and make smart choices based on data, not emotions. 🌼Step 3: Consistency is Key Consistency is key in trading. It’s not enough to have a single profitable trade; you need to be able to make profitable trades consistently. To achieve this, you need to have patience, discipline, and a strong mindset. One of the essential aspects of consistency in trading is understanding and managing risk. This involves limiting potential losses and setting profit targets to ensure you don’t go overboard. Lastly, you need to set realistic expectations and maintain good habits like keeping a trading journal, analyzing your trades, and continuously improving your trading strategies. In conclusion, while there isn’t a specific recipe for success when it comes to trading, these three steps outline the fundamental elements of becoming a professional trader. With dedication, effort, and discipline, you too can make a living or even a fortune from trading! Please cheer me up with a like and a nice comment😸❤️ Please, support my work with like and comment! Love you, my dear followers!👩‍💻🌸
Education
by AnabelSignals
8
Developing a Trading Plan: 7 Key Aspects to Consider Becoming a successful trader requires more than just simply buying and selling assets. To be consistently profitable, traders must create and stick to a well-designed trading plan. A trading plan is a detailed document that outlines a trader's approach to the market and establishes rules for each step of the trading process. The following are seven key aspects that a trading plan should include. ✅Timeframe The timeframe determines the length of time each position will be held open. Traders can choose a long-term, medium-term, or short-term trading strategy. Long-term strategies may require holding a position for several months, while short-term strategies require closing a trade within a day, or even just a few minutes. ✅Risk Management Risk management is the process of identifying, assessing, and prioritizing risks or uncertainties that may affect trading outcomes. A trader's risk management strategy may involve using a fixed lot size or a percentage of the account for each trade. With proper risk management, traders can reduce their losses and maximize their profits. ✅Market Conditions Market conditions refer to whether the market is trending or ranging. A trending market is one in which prices move persistently in one direction, while a ranging market is one in which prices move sideways between a range of support and resistance levels. A trader should have different strategies for each type of market condition. ✅Choosing the Market to Trade Traders must choose which market they want to trade, based on their trading plan, resources, and experience. Forex, stocks, commodities, and cryptocurrencies are some of the markets that traders can choose from. It is advisable to trade in markets that a trader understands and has experience in. ✅Where to Enter Traders can use different methods to enter a trade, such as pullbacks, breakouts, or crossovers. A pullback is a temporary reversal in the direction of an asset's price movement. A breakout occurs when an asset's price moves through a support or resistance level, and a crossover is when two moving averages cross over each other. ✅Stop Loss A stop loss is an order placed with a broker to buy or sell a security when it reaches a certain price. Traders can use percentage-based or market structure stop-losses. A market structure stop-loss is set at a support or resistance level and is based on the analysis of market structure. ✅Targets Traders can have fixed or trailing targets. Fixed targets are predetermined profit objectives that are fixed in advance. Trailing targets are profit targets that move along with the price of the trade as it goes in the trader's favor. In conclusion, developing a trading plan is an essential step for every trader. It allows traders to make informed decisions based on their analysis, experience, and personal risk tolerance. It's important to review and adjust the plan regularly based on market conditions and changes in personal goals and financial conditions. By adhering to a trading plan, traders can improve their chances of success in the market. I hope this post was helpful to some of our beginner traders😊 Dear followers, let me know, what topic interests you for new educational posts?
BITSTAMP:BTCUSDEducation
by SignalProvider
10
Exploring Leverage in Gold and Forex Trading 💰 Leverage is an essential tool in trading gold and forex. It enables traders to control larger positions with minimum initial capital. However, it also carries a high degree of risk as one can experience significant losses if the market moves against them. Here are some things to consider about leverage in trading gold and forex: • Leverage is the ratio of the amount one can borrow and the amount of capital invested. For instance, if a trader chooses a 50:1 leverage, then they can trade up to 50 times more than their initial capital. • While leverage allows traders to profit immensely from small market moves, it also magnifies losses if the market goes in the opposite direction. • Even experienced traders can fall prey to leverage's pitfalls, so it's crucial to understand the risks and manage them effectively. • Traders must calculate their risk-reward ratio before initiating a trade that involves leverage to help minimize losses and improve returns. • Stop-loss orders can help traders to manage their risk in case of unexpected market movements. • It is essential to have a solid trading plan that includes entry and exit strategies, trading goals, and risk management strategies. • Traders should choose a broker that offers favorable margin requirements and instant trade execution. In conclusion, leverage can be a useful tool in trading gold and forex, but it is not suitable for everyone. Traders must carefully evaluate their risk tolerance and have a well-defined trading plan before employing leverage. Please, like this post and subscribe to our tradingview page!👍
BITSTAMP:BTCUSDEducation
by EliteTradingSignals
4
Forex Trading IdeologyIn Forex trading, understanding price movements is essential for success. This article presenteds a conceptual ideology that metaphorically interprets price movements in Forex. We explored range trading as breakfast and conversation, where traders analyze overbought and oversold levels on a RSI 4 for potential breakouts. Trends were attributed to buyers and sellers, with uptrends indicating bullish sentiment and downtrends reflecting bearish sentiment. Breakouts were seen as pivotal decisions made during breakfast, confirmed through technical indicators like the RSI. Correlation and retesting allowed traders to analyze market relationships and make informed decisions. Trend continuation or reversal required careful analysis of price patterns and indicators. Finally , the closing and opening of trading sessions marked the end of one day and the start of another. By applying this kind of ideology, traders can gain insights into market dynamics, improve their strategies, and make informed decisions in Forex trading. ♧J
OANDA:XAUUSDEducation
by ATU_TAD
2
What Should Be Inside Your Trading Plan Find out why you should have a trade plan—and the five elements that may help you put it to work successfully. Element 1: Your time horizon How long do you plan to hold a position? This will depend on your trading strategy. Generally, traders fit into one of three categories: Single-session traders are very active and look to gain from small price variations over very short time periods (minutes or hours) throughout the trading day. Swing traders target trades that can be completed in a few days to a few weeks. Position traders seek larger gains and recognize that it often takes longer than a few weeks to achieve them. Element 2: Your entry strategy Look for entry signals—for instance, divergences from trend lines and support levels—to help you place your trades. The signals you employ and the orders you use to make good on them hinge on your trading style and preferences. Element 3: Your exit plan When it comes to an exit strategy, plan for two types of trades: those that go in your favor and those that don’t. You might be tempted to let favorable trades run, but don’t ignore opportunities to take some profits. Element 4: Your position size Trading is risky. A good trade plan establishes ground rules for how much you’re willing to risk on any single trade. Say, for example, you don’t want to risk losing more than 2%–3% of your account on a single trade. You could consider exercising portion control, or sizing positions, to fit your budget. Element 5: Your trade performance Look over your trading history to calculate your theoretical trade expectancy, meaning your average gain (or loss) per trade. You start by determining the percentage of your trades that have been profitable versus those that haven’t. This is known as your win/loss ratio. ✅LIKE AND COMMENT MY IDEAS✅ Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
3
1,2,3 Confirmation PatternWhat does it consist of? It consists primarily of 3 candles, and the fourth one is where we will enter the operation. In a bearish scenario the High of 2nd candle must be higher than the high of the 1st candle. The high of the 3er candle must be below the high of the 2nd candle. The 4th candle must re test the point of origin of the 3er candle. How can you use it? It is extremely important to complement and use this with a strong idea of where the price is heading. To know where the price will move, we need to understand that it moves towards the most liquid areas. The most liquid areas can be the unfulfilled Daily, Weekly, or Monthly lows and highs. Where should you place the entry? You should wait till the 3er candle close and place the entry at the point of origin of the 3er candle. Where should you place the stop loss? The stop loss should be above the 3er candle. Important I use this technique in D,W and M timeframes. After establishing a bias I look for the pattern. After the 3er candle is complete I move to 1hr or 15minutes to find the point of origin of the 3er candle.Then, I place the order.
Education
by Wiiso
3
How to Trade the Pin Bar Pattern on Forex and Gold 🕯 The pin bar is a powerful price action setup that tells a fascinating story concerning price momentum and the possibility of an imminent reversal in price direction. A pin bar is a Japanese candlestick that has a long wick on one side and a small body. Understanding the story behind the pin bar is essential. 📚What does the pin bar candlestick pattern tell us about market psychology? 📉This pin bar followed a strong downward trend, and the presence of a long tail below the body tells us that the market rejected any attempt by overly exuberant sellers to move the price lower. The length of the tail speaks to the strength of the rejection. 📈The pin bar followed by a strong uptrend, and the presence of a long tail above the body tells us that the market rejected any attempt by overly exuberant buyers to move the price higher. The length of the tail speaks to the strength of the rejection. ⭐️The best pin bars are bearish pin bars that form at the top of an extended move up, and bullish pin bars that form at the bottom of an extended move down. ✅Entry and exit is very simple. If you are going short on a bearish pin bar, enter short when the next candle opens and ticks below the low of the bearish pin bar. If you are going long at your fx broker, enter long when the next candle opens and ticks above the high of the bullish pin bar. ❗️Keep in mind that these are general trading concepts that build on the collective experience of traders. Even though a lot of traders believe that these chart patterns have a bearing on the future direction of the price there are no guarantees in trading. Forex & gold trading is risky and you should never speculate with funds you cannot afford to lose. Please, like this post and subscribe to our tradingview page!👍
OANDA:BTCUSDEducation
by EliteTradingSignals
4
Understanding Basics of Candlestick Charts Candlestick patterns play a key role in quantitative trading strategies owing to the simple pattern formation and ease of reading the same. For using candlestick patterns, you only need to have a basic understanding of how the candlesticks are formed. Also having some idea about the various ways in which these candlesticks can be interpreted would be useful. However, if you are new to candlesticks trading, this article will help you gain a complete understanding of candlesticks. ______ The anatomy of the Candlesticks has stayed almost similar throughout the ages to give us the current shape and meaning. It consists of 4 distinct values namely: The opening price, Closing price, The highest prices for a given interval, and The lowest prices for a given interval. It’s like a combination of a line chart and a bar chart, where each bar represents all four important pieces of information for an interval. ______ Body The hollow or the filled portion of the candlestick is called as the body of the candlestick. Long Body - Indicates heavy trading in one direction and strong buying or selling pressure Small Body - Indicates lighter trading or little buying or selling activity Shadow The long thin lines above and below the body is called the shadow of the candlestick. Upper Shadow - High is marked by the topmost part of the upper shadow Lower Shadow - Low is marked by the bottom part of the lower shadow. ______ On the chart above, you can see how the body to shadow ratio defines the strength of the candlestick. Learning to apply that in a combination with other technical tool can help you to quite reliable predict the price movements. What do you want to learn in the next post?
TVC:GOLDEducation
by UnitedSignals
8
Learn Why Most of the Traders Fail The evidence suggests that only a very small proportion of day traders makes money year over year. There are certain patterns which may separate profitable traders from those who ultimately lose money. And indeed, there is one particular mistake that in our experience gets repeated time and time again. What is the single most important mistake that led to traders losing money? Here is a hint – it has to do with how we as humans relate to winning and losing. Our own human psychology makes it difficult to navigate financial markets, which are filled with uncertainty and risk, and as a result the most common mistakes traders make have to do with poor risk management strategies. Traders are often correct on the direction of a market, but where the problem lies is in how much profit is made when they are right versus how much they lose when wrong. Bottom line, traders tend to make less on winning trades than they lose on losing trades. Humans aren’t machines, and working against our natural biases requires effort. Once you have a trading plan that uses a proper reward/risk ratio, the next challenge is to stick to the plan. Remember, it is natural for humans to want to hold on to losses and take profits early, but it makes for bad trading. We must overcome this natural tendency and remove our emotions from trading. That will help you to be a consistently profitable trader. ✅LIKE AND COMMENT MY IDEAS✅ Do you like this post? Do you want more articles like that
Education
by ProSignalsFx
11
5 Easy Steps for Beginners to Start Trading in Forex 📝 Being a beginner, it is natural for you to feel overwhelmed when you first start forex trading. But that doesn’t mean that you should shy away from the market. By following the 5 steps listed below, you can start your trading journey in currencies in a smooth and efficient manner. 1. Get to know what drives the market 📈 When it comes to trading in currencies, the first ever step that you would need to make as a beginner is educate yourself about the market. Although the forex market works in a very similar fashion to the stock market, the factors behind the movement of the currencies tend to be different. 2. Choose the right broker 🤝 Selecting the right forex broker is as important as getting to know how to trade in currencies. Not all brokers offer the same level of services or are always reliable. Therefore, it is essential for you to spend some time looking into the various brokers offering forex trading services. An ideal forex broker should have an easy account opening process, a simple trading platform, offer exceptional customer support and have low transaction costs. While evaluating brokers, make sure to look into their downtime frequency. 3. Establish your financial goals and targets💰 The next step is to work on your financial goals and targets. Introspect and ask yourself what you hope to achieve by trading in currencies. Also, before you actually buy and sell currencies, it is a good idea to first determine your financial targets. For instance, you can set a target for each forex trade you make or a target for each day or month of trading. Establishing these goals can make you plan your trades much better by helping you come up with a trading plan, which will ultimately make you a better trader. 4. Practice with demo (paper) trading 📃 Through extensive virtual trading practice sessions, you can quickly get the hang of currency trading and try out new trading techniques and strategies. Since you’re not really trading with real money, you don’t have to worry about losing money on trades. Instead, you can spend some quality time learning the ropes and trying to analyze the trades that you make. This can give you some much-needed perspective on how to tackle forex trading in real-time. 5. Start slow and go easy on your trades🐢 Once you’ve gotten the hang of trading in currencies on demo account, you can slowly move onto the real thing. Now, there are a few things that you should keep in mind. The forex market’s volatility tends to be quite high and can lead to wild swings in the price. Therefore, it is a good idea to start slow by using just a fraction of your total investment amount. Now that you’re aware of the 5 steps that you need to take to start trading in forex, go ahead and begin your journey. Good luck to you! Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
6
Decoding the Structure of the Federal Reserve System 🏦 If you've ever wondered how the U.S. monetary system functions and who runs the show, keep reading. In this article, we will break down the structure of the Federal Reserve System and help you understand how it operates. 🏦 The Federal Reserve System, often referred to as the Fed, is the central banking system of the United States. It was created in 1913 by the Federal Reserve Act and is an independent entity within the government. The Fed has a three-part structure, including the Board of Governors, the Federal Reserve Banks, and the Federal Open Market Committee (FOMC). 1️⃣ Board of Governors: The Board of Governors is the governing body of the Federal Reserve System. It consists of seven members appointed by the President and confirmed by the Senate for 14-year non-renewable terms. One person is designated by the President as Chair and another as Vice-Chair. The Board's main function is to set monetary policy, supervise and regulate banking institutions, and maintain the stability of the financial system. 2️⃣Federal Reserve Banks: There are 12 Federal Reserve Banks located throughout the United States. Each Federal Reserve Bank serves a specific geographic district and is responsible for carrying out the policies set forth by the Board of Governors. The Federal Reserve Banks are overseen by a board of nine directors, six of whom are appointed by banks in the district, and three by the Board of Governors. In addition to overseeing the banking system, the Federal Reserve Banks also provide services to financial institutions and the U.S. Treasury. These services include processing and clearing checks, storing currency, and distributing new currency. 3️⃣Federal Open Market Committee: The FOMC is the most powerful body within the Federal Reserve System. It is responsible for setting monetary policy, specifically the target for the federal funds rate, which is the interest rate that banks charge each other for overnight loans. The FOMC is made up of the seven members of the Board of Governors and five of the 12 Federal Reserve Bank presidents. The FOMC meets eight times a year to analyze economic data and determine appropriate policy decisions. Their decisions impact not only the banking system but also the overall economy. For example, if the FOMC decides to raise interest rates, it will become more expensive to borrow money, affecting everything from mortgages to credit card payments. Conclusion: The Federal Reserve System is a complex organization that plays a critical role in the U.S. economy. Its structure is designed to ensure checks and balances across its three branches so that no one entity has too much power. While the Board of Governors sets policy and oversees the entire system, the Federal Reserve Banks carry out those policies and provide essential services to the financial system. The FOMC, on the other hand, is responsible for setting monetary policy, affecting the interest rates that impact our daily lives. Understanding the Federal Reserve System is essential for anyone wanting to understand the U.S. economy. Knowing how the Fed operates can help individuals and businesses make informed decisions about their finances. With this knowledge, you can better navigate the ups and downs of the economy and protect your hard-earned money. ❤️Please, support my work with like, thank you!❤️
FOREXCOM:XAUUSDEducation
by VasilyTrader
6
Learn How to Improve Your Forex Trading 🔝 Whether you're new to Currency Trading or a seasoned trader, you can always improve your trading skills. Education is fundamental to successful trading. Here are some tips that will help hone your Currency trading skills. ⭐️Plan How You Will Trade You may have heard the adage, "if you fail to plan, you plan to fail." This is particularly true in Forex speculation. Successful traders start with a sound strategy and they stick to it at all times. ⭐️Most traders fail because they make the same mistakes over and over. A diary can help by keeping track of what works for you and what doesn't. Used consistently, a well-kept diary is your best friend. ⭐️Patience Once you know what to expect from your system, have the patience to wait for the price to reach the levels that your system indicates for either the point of entry or exit. If your system indicates an entry at a certain level but the market never reaches it, then move on to the next opportunity. There will always be another trade. ⭐️Discipline Discipline is the ability to be patient—to sit on your hands until your system triggers an action point. Sometimes, the price action won't reach your anticipated price point. At this time, you must have the discipline to believe in your system and not to second-guess it. Discipline is also the ability to pull the trigger when your system indicates to do so. This is especially true for stop losses. ⭐️Realistic Expectations Even though the market can sometimes make a much bigger move than you anticipate, being realistic means that you cannot expect to invest $250 in your trading account and make $1,000 each trade. Although there is no such thing as a "safe" trading time frame, a short-term mindset may involve smaller risks if the trader exercises discipline in picking trades. This is also known as the trade-off between risk and reward. Trading is nuanced and requires as much art as science to execute successfully, which means that there is only a profit-making trade or a loss-making trade. Warren Buffet said that there are two rules in trading: Rule 1: Never lose money. Rule 2: Remember Rule 1. Stick a note on your computer that will remind you to take small losses often and quickly rather than wait for the big losses. Please, like this post and subscribe to our tradingview page!👍
OANDA:BTCUSDEducation
by EliteTradingSignals
6
8 Trading Tips to Help You Increase Your Trading Profits Whether you are just getting started or you’ve been on your journey for a while now, you’ve probably discovered that day trading is not easy. You’re putting your hard-earned money on the line and facing new challenges daily. That said, every challenge you conquer takes you one step closer to your ultimate goal. Small behavioral changes can have profound impacts. Your goal is to minimize losses and maximize profits in order to increase your net profitability. Here are some tips: 1. Avoid Overtrading Traders are ambitious, sometimes too much so. Many traders feel the need to always be doing something. It’s important to remember that trading requires patience, and the quality of your trades is far more important than the quantity. 2. Avoid Under-trading Do you ever find a great trade setup that you don’t take action on, only to look back later and realize your idea was spot on? 3. Take Control of Your Losses As traders, we’re always focused on profits. After all, the main goal of trading is to turn money into more money. It’s easy to get carried away and forget about the very real potential for losses. In reality, limiting losses has the same net effect as increasing profits. 4. Simplify Your Approach There is an incredible amount of data available to traders in this digital millennium. This data is intended to improve our decision-making abilities, however it can also be overwhelming. 5. Trade Robotically As you begin to simplify your approach to trading, you can focus on making your strategy more robotic. The goal is to take all emotions out of trading so you can take a systematic approach to your trading. 6. Learn Your Strengths and Weaknesses Becoming a successful trader requires introspection, self-analysis, and evolution. Simply put, you need to analyze your own behavior and look for areas of improvement. 7. Double Down on What’s Working Learn to double down on areas of strength. Focus your efforts to trading activity that yields the highest rewards. 8. Don’t be Afraid to Go Back to Square One If you find yourself in a rut, don’t hesitate to go back to basics. In the trading world, a simple piece of advice can be a game changer. We’ve all heard quotes, lessons, or tips that have elevated our trading to new levels. What’s the best trading tip you’ve ever received? Please, support my work with like and comment! Love you, my dear followers!👩‍💻🌸
Education
by AnabelSignals
4
Unlocking the 6 Levels to Financial Freedom If you’re living paycheck-to-paycheck or stuck in a job you don’t love just to pay the bills, it can be easy to feel as though you’re financially trapped. But financial freedom doesn’t need to be elusive—with some focused and consistent effort, you may be able to achieve financial freedom sooner than you expected. Below, we’ll discuss the different stages of the financial freedom journey Stage 1: Dependence ✔️ The “dependence” stage of financial freedom can last from your childhood and teen years even into your adult life. If you rely on a parent, a significant other, or someone else to pay your living expenses, you’re in this stage. Fortunately, as soon as you become solvent—that is, when your income exceeds your expenses—you’ve moved on to stage 2. Stage 2: Solvency ✔️ Solvency comes when you’re able to meet your financial obligations on your own. (If you’re partnered, you can still be considered solvent even if your partner’s income is necessary to meet your total household expenses—since you’re supporting two or more people instead of just yourself.) Stage 3: Stability ✔️ You’ll transition from solvency to stability once you’ve created an emergency fund of a few months’ expenses, repaid high-interest debt, and are continuing to live within your means. While stability doesn’t require you to be debt-free—as you may still have a mortgage, student loans, or even credit card debt—you’ll have a savings buffer to ensure that you won’t go into debt if you encounter an emergency or unexpected expense. Stage 4: Security ✔️ You’ll feel financially secure once you’ve eliminated your debt (or have enough assets to pay off all your debt) and could weather a period of unemployment without worry. At this point, money is not just a safety net, but also a tool you can use to build the future you’ve been planning. At this point, you may consider investing in other assets besides retirement accounts — a taxable account, rental real estate, or even your own small business. Stage 5: Independence ✔️ Once your investment income or passive income is enough to cover your basic needs, you’ve achieved financial independence. A financially independent person can retire at any time without worrying about how to cover their costs of living, even if they may have to downsize their lifestyle a bit. Stage 6: Freedom ✔️ The line between financial independence and financial freedom can be a fine one; for many, it’s simply the difference between having enough to cover your needs or having more than enough. Once you have financial freedom, you don’t need to pinch pennies (unless you want to), and you can take more risks with money you’re willing to lose. Now that you know the stages of financial freedom, think about where you are. How much do you need to get to the next level? What do you want to learn in the next post?
TVC:GOLDEducation
by UnitedSignals
5
Swing | Intraday | Scalp: pros and cons of three trading stylesAs we all know, the three most popular trading styles are the following: Swing trading, Day trading, and Scalping. This educational post is concentrated on highlighting some of the pros and cons of all three techniques. When it comes to Swing Trading (middle to long-term trading), some of the advantages are less screen time, less anxiety, less risk, and less candle noise. This style of trading is beneficial for those individuals that do not have enough time to sit in front of the charts and execute positions on a daily basis. However, some drawbacks should be mentioned as well. In order to be a swing trader, one needs to master the skill of remaining patient, disciplined and cold-blooded. Swing trades can run from one day up to a week, and hence, it is crucial to know how to sit on your hands and do nothing upon witnessing slow price action, indecision, drawdown and so forth. Moving to intraday trading, no overnight and over-the-weekend risks can be associated with this style as executed positions are usually closed within a couple of hours when trading the H1 and lower-timeframe graphs. On the negative side, in order to make a living off day trading, a strong psychological temperament is needed along with a sufficient trading capital. If swing trading requires a minimum of a risk of 1-2% per trade, the number is lower for day trading. Hence, a bigger input (capital) is required in order to be able to make decent returns. Last but not least: Scalping. The fans of this style of trading usually dedicate their focus on timeframes as low as the M5 and M1. Aiming towards capturing 5-10 pip movements, scalpers use smaller lot sizes in comparison to swing and day traders. Nevertheless, this trading style comprises of drawbacks such as indecision and a high degree of emotional state. Since the main purpose of scalping is capturing small price movements identified on lower-timeframe graphics, the noise and confusion is relatively high. While all trading strategies have their own benefits and drawbacks, choosing a trading style that suits your goals and interests the most is highly linked with your personality. If you are a patient and, at the same time, a busy person, swing trading might be the best option for you. On the other hand, if you have enough time and patience to sit in front of the charts and execute trades on a daily and hourly bases, then either day trading or scalping might be the best variants to opt for. Either way, it all narrows down to patience, long-term vision, discipline, persistence, and risk management. Choose one or two securities that you like trading the most, do not get discouraged while experiencing losses and moments of hardship, remain cold blooded and long-run oriented. Investroy
Education
by Investroy
26
Learn The Iceberg Illusion | The Fallacies & Reality We often get mesmerized by someone’s above the surface success and don’t factor in all the below the surface opportunity-costs they paid to achieve that success. This is the ‘iceberg illusion’. It’s been a fav analogy of mine for years. And yet, this just might be a better visual for sport than the ‘iceberg illusion’. You see… the hyper focus on outcomes is one of the biggest failings (or façades) that comes from social media. It creates a false impression of what leads to success. We see the success, but not the work that went into it… The unseen hours, necessary failures, setbacks, crises of confidence, the not-now’s (to the countless asks), the loneliness, the late nights and early mornings; and, all the wobbling that comes before the walking—much less running. There are no shortcuts. There are no overnight successes. The iceberg doesn’t move quickly. It’s not sped up. It just moves consistently; at often a barely discernible speed. ✅LIKE AND COMMENT MY IDEAS✅ Do you like this post? Do you want more articles like that?
Education
by ProSignalsFx
9
Common trading mistakes to avoid as a trader ❌ For new market traders, review these common trading mistakes so you can avoid emotional blunders with your investments and take advantage of psychological edges. The mechanics of trading are relatively simple. A click or two gets you into a trade, and a click or two gets you out. But the decision-making process behind those clicks is much more complex. And with complexity comes more opportunities to make mistakes that can affect your bottom line. Here are seven common mistakes that traders—both new and experienced—sometimes make. 1️⃣Mistake 1: Emotional trading/psychological trading Trading can bring out the best and the worst in us. For a trader, nothing is more frustrating than opening a long position and seeing the market drop, bringing the value of your long position to levels well below the price you bought it. The same can be said about missing out on a move in a stock that's been on your radar for a while. Anger, fear, and anxiety can lead traders to make quick and even irrational emotion-based decisions. The reality is that markets are cyclical, moving through ups and downs. Trading decisions based on emotions may not always give the results you want. Instead, take a step back and think through the situation logically. Every situation is different, and instead of buying or selling in a panic, think about how you can best manage risk. 2️⃣Mistake 2: Pulling stop orders When a position hits a stop order, it can often mean you're going to take a loss on it. Pulling—or canceling—a stop is often a subliminal attempt to avoid admitting you were wrong. After all, as long as the position is open, there's still a chance it could come back and be profitable. The problem is every 50% loss starts with a 5% loss. It's not magic; it's just math. And it only takes one small loss that turns into a big one to make a big dent in a portfolio. Losing is no fun, but it's part of trading. Being disciplined about managing stop orders may help you come back and trade another day. 3️⃣Mistake 3: Trading without a plan Trading plans should act as a blueprint during your time on the markets. They should contain a strategy, time commitments and the amount of capital that you are willing to invest. After a bad day on the markets, traders could be tempted to scrap their plan. This is a mistake, because a trading plan should be the foundation for any new position. A bad trading day doesn’t mean that a plan is flawed, it simply means that the markets weren’t moving in the anticipated direction during that particular time period. Every trader makes mistakes, and the examples covered in this article don’t need to be the end of your trading. However, they should be taken as opportunities to learn what works and what doesn’t work for you. The main points to remember are that you should make a trading plan based on your own analysis, and stick to it to prevent emotions from clouding your decision-making. Hey traders, let me know what subject do you want to dive in in the next post?
OANDA:XAUUSDEducation
by TopTradingSignals
6