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SSCROOGE_ACADEMY
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Patience is the key!
#patience
#Consistency
#academy
#lesson
#newbieorprofi
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There is no question that a prop firm is the best way to build equity. I am only implying that when the sphere is completely closed, a prop trader will need to take at least 3 months to come to terms with the fact that in such an environment the price of risk is not the price of buying a Challenger, but really -$1000 out of your pocket for an account size of $100,000. Reducing risk, rethinking your trading approach, questioning your own beliefs and other challenges that most of us are not prepared for, and in fact, you need to start preparing now. The attitude towards prop firms should be on fair terms - accept in advance the fact that all this is scam, because you are paid only at the expense of those who lost, and you are only in it as long as this system works. In case this line of business closes, you should have the appropriate skills and a plan of action to deal with your own capital. Simply put, keep it simple. #proptrading #riskmanagement #Simple #challenge #crypto
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The essence of prop-firm is based on the concept of satisfying the needs or desires of a trader to quickly achieve his goals by realizing trade through non-existent capital. This is a deliberately losing concept for a trader, although it is the most accessible and popular for all traders in terms of building their own capital. It's not the prop firm that "sucked" - you consciously chose to be deceived when you created an illusion out of ridiculous desires for big payouts and a beautiful life. Call things by their proper names. #proptrading #truth #lesson #academy #besmart
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as the confirmation of my previous post, i'm expecting the price lower.
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Difference between those who trading patterns and those who trading logic.. 1st scenario - patterns. the reversal is high risk and low probability. 2nd scenario - logic. the price breaks the logic of short order flow and making a change. high probability. #academy #lesson #logic #reversal #patterns
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The large number of trading opportunities on LTF leads to a large number of decisions. When a trader encounters information on a chart that he understands, his thinking rushes to realizing the reward as quickly as possible. This is due to the phenomenon of hyperbolic discounting, which states that people prefer a smaller reward in the here and now rather than a larger reward delayed in time. A quick reward is easier to observe and experience, so it has a higher subjective value. A market order in trading is a mechanism for bringing a reward closer in time, be it premature profit taking or impulsive opening of a position. Market orders promote impulsiveness and gambling. If you only had limit orders in your toolkit, you would approach opening and closing positions more carefully and rationally, since these orders offer a more delayed reward. #psycho #Education #academy #sscrooge #trading
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