When we trade in forex or crypto currency, the word session is something we always talk about. This session basically means a time frame.

We have several sessions in the forex market. That is Asian, London and New York. Although this Asian session is considered to be a single session, it is made up of the combination of Sydney and Tokyo sessions. I will post a note with this time period to make it easy to understand.

Now let's see what is special about this session. The most basic thing is that in a market session we can see a good amount of liquidity in the market. The main reason for this is that financial institutions, which are the big players in the market, enter the market to trade in these sessions. Through this we can take care of relatively significant movement.

Now one can think that we should trade even during a session. It's not like that. Some people's strategy is not session based. And this session doesn't matter much to them. This affects swing traders the most. Also, there are some day trading strategies that are not session based. Generally, if we develop such a strategy, we need to have considerable experience in the market.

Now then you ask why we need to trade in session. As I said basically, if you trade without a certain time frame like a session, you need a lot of psychological power. You have to stay with the market for a long time to develop it. That's why if you are a beginner and you don't have 3 years of experience in the market, practicing session trading will help you a lot to become a good profitable trader.

Owner: Nimithi

If you are a person who trades, you must have heard this saying not to be fomo. What exactly is this fomo?

FOMO is a combination of 04 words. That means fear of missing out or the fear of losing the opportunity.

Traders often get fomo. When a coin goes in an up movement and a coin goes in a down movement and when the market consolidates without a proper direction. Many traders lose their fund because of this fomo all the time.

You can easily get rid of fomo. It needs to be done.

📌 Making a proper trading plan.
📌 Doing technical and fundamental analysis.
📌 Setting achievable realistic goals as targets.
📌 Maintaining your physiology properly.
📌 Taking a break without continuing while trading.

So I think this will be useful for you. Happy trading guys🌚❤️

Owner: Nimithi

#Nimithitalks #trading #FOMOisReal

🎯Can you really earn money by trading?

I am writing this because of a conversation that happened today. If you ask if you can really earn money from trading, my answer is yes.

But if someone asks me if it is possible to become a millionaire in a month by trading, I don't have an answer.

This is the reason. Trading is not about displaying charts on many monitors for the world to see or being a tiktok fan. More than that, you need to spend a lot of time and you need a strong psychology.

It takes at least 4-5 years to develop the psychology mentioned earlier. Even I, who am writing this, still have a lot of confusion on the psychology side.

If we take the next point, the monthly pnl target of many professional traders is in the range of 5-10%. Because with trading, anyone targets their financial freedom. Then a 10% pnl gain is usually enough for someone who has a good capital. The more it increases, the more our psychology gets confused.

🎯The next thing is that the people who do the course actually get there by trading or by taking a course?

If we talk about this, 99% of those who take trading courses will get through the course. There are 1% of them who do it right. Those people don't run a flood of sponsor ads. It is done for those who are in loss.

To put it simply, trading is something that needs to be practiced for many years like other things, spending time and effort, not something that can be learned by watching a YouTube video.

Owner: Nimithi

Many people say that a week's trading profit ends with a day's loss. Let me tell you some ways to reduce it.

01. Set a fixed amount in the wallet at the beginning of the month. And a monthly target.

02. After setting a fixed amount in the wallet like this, put the daily profit from the future or spot wallet into the funding wallet.

For example, if you think that the amount you should have in your wallet at the beginning of the month is 1000$, imagine that you made a profit of 20$ in a day. Put that 20$ in the funding wallet.

03. Don't go to trade in the middle of other work. Because if the mind set is not clear, chances will be missed in the market and losses will also increase.

04. Make sure to mark the daily loss profit in an excel sheet.

05. If doing weekend trade, use low leverage.

06. The other thing is to keep a risk management strategy.

For example, keep the SL between 2-3%. The profit target is between 3-4%.

Original owner: Nimithi

#TradingStrategies💼💰

I am writing this because of the trend of all young boys leaving work and trying to start trading.

If you want to do trading, do this first.

01) Several income sources. Because trading has both loss and profit. That's why it's worth having more ways to cover a loss.

02) Good knowledge. As I always say, trading is something that needs to be learned by spending time. That is why it is imperative to give it time.

03) A trading plan. It means simply how much you risk, how you plan a trade (stop loss, target, ladder points) and a plan that includes things like your monthly target.

04) A good psychology. That means this is purely a mind game. Because of that, if you lose your head, it will be a shame to go away son.

Because of that, don't be tempted to trade by disrupting your education. The very good traders you see (that is, not the fake ones who sell Tik Tok Courses) are the ones who have achieved a lot in their professional life. They were successful because of that strength.

It simply means that if you want to be a good trader, you need a good education, good discipline and a good financial background.
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Original owner: Nimithi
# #was_quoted