LIVEThe_Pathfinder
@The_Pathfinder
Twitter 📩 : @rich_Pathfinder🔥|| Crypto Trader 💰|| Blockchain Educator 📚 || Lifelong learner 🧠
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The seven (7) psychology keys of winning traders.
The secret to successful trading does NOT lie in an amazing theory or
indicator. The secret lies in the traders’ MIND. The seven (7) psychology keys of winning traders are:
1. Discipline
•Trade according to your trading entry/exit rules. Never on rumours, opinions and
emotions
•Have the discipline to stick to your strategy through the wins and losses
• Avoid listening to the opinions of ‘experts’ who can ‘predict’ the market based on
insight or news
2. Think Statistically
•A winning strategy will have wins as well as losses
• The losses can come in a row (5-10 losses together)
• Do not be greedy when you win or fearful when you lose
• Every trade outcome is statistically insignificant
• A good trade can end up as a ‘loss’. Focus on following the rules and not on the
outcome of each trade.
• As long as you have an edge (> 50% win) and average win is more than your
average loss, you will be profitable over many trades
3. Patience
• Only trade when there is a high probability opportunity
• When the rules tell you it is not the time to enter, do NOTHING
• Knowing what NOT to do is as important as knowing what to do
4. Focus on ‘What’ is happening and not ‘Why’ it is happening
•It is a waste of time trying to figure out why the market is moving a certain way
•Price movements are not caused by public news (e.g. Dow Jones increased because of the debt ceiling resolution)
• Avoid associating market trends with news events
• “What has happened in the market to cause this move?” is irrelevant to trading success.
5. Do Not Predict the Future
•It is impossible to predict the future-> driven by crowd psychology
•Avoid listening to experts who give predictions of the future or to predict yourself
•Trade based on the current trend or reversal in trend
•Predicting the future clouds our judgement and makes us less willing to take losses (ego).
6. Risk Management
•There is no trade that is guaranteed a win. Always risk a small percentage of
your capital (e.g. 1-3%) and enter high probability trades where your profit
target and stop loss is pre-set.
7. High Level of Confidence
• Confidence to follow your trading strategy through the wins and losses
• Confidence does not come from the outcome of any particular trade
• Confidence comes from knowing that your trading plan/strategy has a positive
expectancy (edge).
In conclusion,
Putting these seven (7) psychology keys to practise will help us to stay profitable in the long-term. Kindly like, comment and follow me for more useful contents on trading.
#CPI_BTC_Watch #TON #DOGSONBINANCE $BTC $WIF $FET
indicator. The secret lies in the traders’ MIND. The seven (7) psychology keys of winning traders are:
1. Discipline
•Trade according to your trading entry/exit rules. Never on rumours, opinions and
emotions
•Have the discipline to stick to your strategy through the wins and losses
• Avoid listening to the opinions of ‘experts’ who can ‘predict’ the market based on
insight or news
2. Think Statistically
•A winning strategy will have wins as well as losses
• The losses can come in a row (5-10 losses together)
• Do not be greedy when you win or fearful when you lose
• Every trade outcome is statistically insignificant
• A good trade can end up as a ‘loss’. Focus on following the rules and not on the
outcome of each trade.
• As long as you have an edge (> 50% win) and average win is more than your
average loss, you will be profitable over many trades
3. Patience
• Only trade when there is a high probability opportunity
• When the rules tell you it is not the time to enter, do NOTHING
• Knowing what NOT to do is as important as knowing what to do
4. Focus on ‘What’ is happening and not ‘Why’ it is happening
•It is a waste of time trying to figure out why the market is moving a certain way
•Price movements are not caused by public news (e.g. Dow Jones increased because of the debt ceiling resolution)
• Avoid associating market trends with news events
• “What has happened in the market to cause this move?” is irrelevant to trading success.
5. Do Not Predict the Future
•It is impossible to predict the future-> driven by crowd psychology
•Avoid listening to experts who give predictions of the future or to predict yourself
•Trade based on the current trend or reversal in trend
•Predicting the future clouds our judgement and makes us less willing to take losses (ego).
6. Risk Management
•There is no trade that is guaranteed a win. Always risk a small percentage of
your capital (e.g. 1-3%) and enter high probability trades where your profit
target and stop loss is pre-set.
7. High Level of Confidence
• Confidence to follow your trading strategy through the wins and losses
• Confidence does not come from the outcome of any particular trade
• Confidence comes from knowing that your trading plan/strategy has a positive
expectancy (edge).
In conclusion,
Putting these seven (7) psychology keys to practise will help us to stay profitable in the long-term. Kindly like, comment and follow me for more useful contents on trading.
#CPI_BTC_Watch #TON #DOGSONBINANCE $BTC $WIF $FET
Trading is just easy🤧
Every job looks easy when you're not the one doing it. This is because the challenges faced by someone in the arena are often invincible to those in the crowd.
Like everything worthwhile, successful trading/investment is not cheap, neither is it easy as it seems but it comes at a price. The volatility, fear, uncertainty, doubt and regret are all trade offs that are mostly overlooked in the market until you enter a trade or invest your hard earned resources in crypto.
The inability to recognize that crypto trading/investing has a price tag can tempt you to try to get something for nothing. which is just like how shoplifting usually ends.
This month of October came with insane volatility with most coins having an average of -11% drop in value. So if someone bought $FET at $1.603 with the profit goal at $1.655 but due to FUD, the market went south and this individual panicked sold all his assets at $1.33 with a huge bag of losses. He/she could have cut losses early with a stoploss order and wait for a better entry but failed. However, just after some few days, the market is showing strong signals of recovery but this individual is still scared of a possible entry because of fear, uncertainty and doubt.🤡
A lot of people want to make money in the market without willing to pay the price. Volatility and FUD are constant variables in this business. So during moments of market FUD, open your eyes to the opportunities in disguise.
#WeAreAllSatoshi #SECAppealRipple #U.S.UnemploymentNewLow BTCUptober $BTC
Every job looks easy when you're not the one doing it. This is because the challenges faced by someone in the arena are often invincible to those in the crowd.
Like everything worthwhile, successful trading/investment is not cheap, neither is it easy as it seems but it comes at a price. The volatility, fear, uncertainty, doubt and regret are all trade offs that are mostly overlooked in the market until you enter a trade or invest your hard earned resources in crypto.
The inability to recognize that crypto trading/investing has a price tag can tempt you to try to get something for nothing. which is just like how shoplifting usually ends.
This month of October came with insane volatility with most coins having an average of -11% drop in value. So if someone bought $FET at $1.603 with the profit goal at $1.655 but due to FUD, the market went south and this individual panicked sold all his assets at $1.33 with a huge bag of losses. He/she could have cut losses early with a stoploss order and wait for a better entry but failed. However, just after some few days, the market is showing strong signals of recovery but this individual is still scared of a possible entry because of fear, uncertainty and doubt.🤡
A lot of people want to make money in the market without willing to pay the price. Volatility and FUD are constant variables in this business. So during moments of market FUD, open your eyes to the opportunities in disguise.
#WeAreAllSatoshi #SECAppealRipple #U.S.UnemploymentNewLow BTCUptober $BTC
LIVEThe_Pathfinder
--
Market FUD could a blessing in disguise.🤑
Anytime there is fear, uncertainty and doubt (FUD) in the market, that is where opportunities for huge price discount are presented to courageous traders/investors who have the balls to seize it.
The current bearish market sentiments is a clear reaction to the war conditions in the middle-east which is seems to getting worse by day. The truth is that, nobody can accurately predict the direction of the market.
For instance, a lot of influencers predicted doom for the month of September but the market responded in the opposite direction with bullish waves. October just started and nobody knows how market players will move the market.
However, in this season of FUD, open your eyes to the blessings in disguise and make the best out of it. This is why it is important to always have a spare ammunition (liquidity) to act when the market comes hard at you.
BTCUptober BTCUptober #IranianMissilesPlummetsBTC #BTCReboundsAfterFOMC $BTC $FET $WIF
Anytime there is fear, uncertainty and doubt (FUD) in the market, that is where opportunities for huge price discount are presented to courageous traders/investors who have the balls to seize it.
The current bearish market sentiments is a clear reaction to the war conditions in the middle-east which is seems to getting worse by day. The truth is that, nobody can accurately predict the direction of the market.
For instance, a lot of influencers predicted doom for the month of September but the market responded in the opposite direction with bullish waves. October just started and nobody knows how market players will move the market.
However, in this season of FUD, open your eyes to the blessings in disguise and make the best out of it. This is why it is important to always have a spare ammunition (liquidity) to act when the market comes hard at you.
BTCUptober BTCUptober #IranianMissilesPlummetsBTC #BTCReboundsAfterFOMC $BTC $FET $WIF
Market FUD could a blessing in disguise.🤑
Anytime there is fear, uncertainty and doubt (FUD) in the market, that is where opportunities for huge price discount are presented to courageous traders/investors who have the balls to seize it.
The current bearish market sentiments is a clear reaction to the war conditions in the middle-east which is seems to getting worse by day. The truth is that, nobody can accurately predict the direction of the market.
For instance, a lot of influencers predicted doom for the month of September but the market responded in the opposite direction with bullish waves. October just started and nobody knows how market players will move the market.
However, in this season of FUD, open your eyes to the blessings in disguise and make the best out of it. This is why it is important to always have a spare ammunition (liquidity) to act when the market comes hard at you.
BTCUptober BTCUptober #IranianMissilesPlummetsBTC #BTCReboundsAfterFOMC $BTC $FET $WIF
Anytime there is fear, uncertainty and doubt (FUD) in the market, that is where opportunities for huge price discount are presented to courageous traders/investors who have the balls to seize it.
The current bearish market sentiments is a clear reaction to the war conditions in the middle-east which is seems to getting worse by day. The truth is that, nobody can accurately predict the direction of the market.
For instance, a lot of influencers predicted doom for the month of September but the market responded in the opposite direction with bullish waves. October just started and nobody knows how market players will move the market.
However, in this season of FUD, open your eyes to the blessings in disguise and make the best out of it. This is why it is important to always have a spare ammunition (liquidity) to act when the market comes hard at you.
BTCUptober BTCUptober #IranianMissilesPlummetsBTC #BTCReboundsAfterFOMC $BTC $FET $WIF
The price of $FET has been ranging $1.635 and $1.699 on lower timeframe even though the daily chart shows strong overbought conditions.
Here are two (2) scenarios for consideration:
Either you wait for price to breakout and hold above the $1.699 before you make an entry or wait for recovery signal on the $1.64 support zone before you make a move to enter a long trade.
At this point, I will prefer to protect the profit I've today on $FET and observe how market players will behave at this key range stated above.
Note: Always do your own research.
@CZ #HMSTRonBinance #BinanceLaunchpoolHMSTR
Here are two (2) scenarios for consideration:
Either you wait for price to breakout and hold above the $1.699 before you make an entry or wait for recovery signal on the $1.64 support zone before you make a move to enter a long trade.
At this point, I will prefer to protect the profit I've today on $FET and observe how market players will behave at this key range stated above.
Note: Always do your own research.
@CZ #HMSTRonBinance #BinanceLaunchpoolHMSTR
🚫 Avoid this Trap!
I see a lot of post on Binance Square and X were people boast about the number of crypto cycles they've experienced in the past and even give a forecast of price direction.
The trap most traders and investors fall into is the over reliance on past data as a signal for future conditions.
In the crypto space where innovation and change are the lifeblood of progress, you can't really blame traders and investors for their priority to historical data.
Why do I say this?
Traders & investors are always making imperfect decisions with limited information about the things that will have a massive impact on their wellbeing.
The most important driver of anything tied to money is the stories people tell themselves and the preference they have towards various crypto projects.
So over reliance on historic data could lead to overconfidence and the temptation to accurately predict the direction of the market.
The key here is to accept that the future might not look anything like the past and we all need to brace ourselves to adapt to how this cycle and subsequent ones will unfold.
In conclusion,
I am not by any means suggesting you shouldn't pay attention to historic crypto data but my emphasis here is that don't over rely on them because no two cycles are the same. A typical example is the 2016/2017 and 2020/2021 cycles, the underlying factors that fuel each cycle was different and this cycle will not be an exception.
#BTCReboundsAfterFOMC #FOMC #CATIonBinance $SEI $WIF $BTC
I see a lot of post on Binance Square and X were people boast about the number of crypto cycles they've experienced in the past and even give a forecast of price direction.
The trap most traders and investors fall into is the over reliance on past data as a signal for future conditions.
In the crypto space where innovation and change are the lifeblood of progress, you can't really blame traders and investors for their priority to historical data.
Why do I say this?
Traders & investors are always making imperfect decisions with limited information about the things that will have a massive impact on their wellbeing.
The most important driver of anything tied to money is the stories people tell themselves and the preference they have towards various crypto projects.
So over reliance on historic data could lead to overconfidence and the temptation to accurately predict the direction of the market.
The key here is to accept that the future might not look anything like the past and we all need to brace ourselves to adapt to how this cycle and subsequent ones will unfold.
In conclusion,
I am not by any means suggesting you shouldn't pay attention to historic crypto data but my emphasis here is that don't over rely on them because no two cycles are the same. A typical example is the 2016/2017 and 2020/2021 cycles, the underlying factors that fuel each cycle was different and this cycle will not be an exception.
#BTCReboundsAfterFOMC #FOMC #CATIonBinance $SEI $WIF $BTC
☣️ Manage your mind, manage your money 💰
A lot of traders either make money in the market only to give it back to the market or fail to cut their losses on losing trades due to poor mind management.
Trading is not just a money game but a highly psychological game. The ability to remain calm and make sound money decisions when everything is falling apart is a very crucial virtue for consistent profitable trading.
Most of the times when you're watching the chart and your money is not on the line, everything is cool but immediately you enter a trade you start experiencing emotional discomfort. If emotions are not properly kept in check, you will end up making poor decisions and lose money.
This is what you can do to manage your mind and money:
- Decide on how much you're willing to risk and make per trade ( profit / risk ratio )
- Accept losses as part of the game. We use money to make money.
- Trade with capital that is within your emotional threshold. Don't borrow or use your entire life savings to trade.
- Always do your own research before you take your trades.
@CZ
#CATIonBinance #BTCReboundsAfterFOMC #FOMC #NeiroOnBinance $BTC $WIF
A lot of traders either make money in the market only to give it back to the market or fail to cut their losses on losing trades due to poor mind management.
Trading is not just a money game but a highly psychological game. The ability to remain calm and make sound money decisions when everything is falling apart is a very crucial virtue for consistent profitable trading.
Most of the times when you're watching the chart and your money is not on the line, everything is cool but immediately you enter a trade you start experiencing emotional discomfort. If emotions are not properly kept in check, you will end up making poor decisions and lose money.
This is what you can do to manage your mind and money:
- Decide on how much you're willing to risk and make per trade ( profit / risk ratio )
- Accept losses as part of the game. We use money to make money.
- Trade with capital that is within your emotional threshold. Don't borrow or use your entire life savings to trade.
- Always do your own research before you take your trades.
@CZ
#CATIonBinance #BTCReboundsAfterFOMC #FOMC #NeiroOnBinance $BTC $WIF
A step at a time.
The path to success in trading is not a linear progression. Your portfolio will go through the waves of ups and downs which can emotionally draining particularly for traders who suffer from the fear of losing money.
Trading is a money game and money is used as a hook to get more money. Just like fishing, sometimes you get a great catch of fishes and on certain days you catch nothing. The fisherman is used to this phenomenon in their fishing endeavours.
You need to get use to rejection and always be grateful no matter the outcome of your trades. Stay humble and keep learning.
#BTCReboundsAfterFOMC #CATIonBinance #FOMC $WIF $BTC
The path to success in trading is not a linear progression. Your portfolio will go through the waves of ups and downs which can emotionally draining particularly for traders who suffer from the fear of losing money.
Trading is a money game and money is used as a hook to get more money. Just like fishing, sometimes you get a great catch of fishes and on certain days you catch nothing. The fisherman is used to this phenomenon in their fishing endeavours.
You need to get use to rejection and always be grateful no matter the outcome of your trades. Stay humble and keep learning.
#BTCReboundsAfterFOMC #CATIonBinance #FOMC $WIF $BTC
🚫 Beware: Don't just buy any coin.
Everything that goes up must surely come down and vice versa has a unique use case of application in crypto.
For instance, $BTC rose from a range of $28 - $38 in the bear market to a new all time high of $73k in 2024 and now ranging between an average of $56k - $65k. Also, we saw $SOL drop in value from $256 to $8 somewhere in december 2022 particularly after the FTX crash but now ranging between $108 - $162
Even though all coins do not peak at the same time or bottom at the same time because of how market players react to market sentiment.
That notwithstanding, don't just buy a coin/token because you think it is now cheap. Some coins fell in value and never rose back from their ashes till they either got delisted or filed for bankruptcy.
For example:
$Luna
$Voyage
In conclusion, even though most altcoins have been showing weakness, the recent news of rate cuts will help you spot coins that show strength and potential in this bull cycle. Open your eyes 👀
#DODOEmpowersMemeIssuance #FOMC #CATIonBinance #BTCReboundsAfterFOMC
Everything that goes up must surely come down and vice versa has a unique use case of application in crypto.
For instance, $BTC rose from a range of $28 - $38 in the bear market to a new all time high of $73k in 2024 and now ranging between an average of $56k - $65k. Also, we saw $SOL drop in value from $256 to $8 somewhere in december 2022 particularly after the FTX crash but now ranging between $108 - $162
Even though all coins do not peak at the same time or bottom at the same time because of how market players react to market sentiment.
That notwithstanding, don't just buy a coin/token because you think it is now cheap. Some coins fell in value and never rose back from their ashes till they either got delisted or filed for bankruptcy.
For example:
$Luna
$Voyage
In conclusion, even though most altcoins have been showing weakness, the recent news of rate cuts will help you spot coins that show strength and potential in this bull cycle. Open your eyes 👀
#DODOEmpowersMemeIssuance #FOMC #CATIonBinance #BTCReboundsAfterFOMC
Trade with discipline.
One of the most difficult skills to master for profitable trading is the discipline to patiently wait for your setup to playout before you either go long or short on any asset. The results of this discipline is priceless.
Only take trades with high probability of Success.
#CATIonBinance #FOMC #DODOEmpowersMemeIssuance @CZ $WIF $BTC
One of the most difficult skills to master for profitable trading is the discipline to patiently wait for your setup to playout before you either go long or short on any asset. The results of this discipline is priceless.
Only take trades with high probability of Success.
#CATIonBinance #FOMC #DODOEmpowersMemeIssuance @CZ $WIF $BTC
To whom it may concern...🤔
The #FOMC rate cuts have brought massive waves of excitement into the market. Those who entered early before the waves are sitting on some huge gains now but those who entered late are also sitting on an emotional roller coaster chair.
I don't know when this wave will end but one thing is sure that there will cool off at some point before any continuation.
There's an old wall Street proverb which says: Bears make money, Bulls also make money but Pigs always get slaughtered because of Greed.
Beware 🧐
@CZ #FOMC #BTCReboundsAfterFOMC #write2earn $BTC $WIF
The #FOMC rate cuts have brought massive waves of excitement into the market. Those who entered early before the waves are sitting on some huge gains now but those who entered late are also sitting on an emotional roller coaster chair.
I don't know when this wave will end but one thing is sure that there will cool off at some point before any continuation.
There's an old wall Street proverb which says: Bears make money, Bulls also make money but Pigs always get slaughtered because of Greed.
Beware 🧐
@CZ #FOMC #BTCReboundsAfterFOMC #write2earn $BTC $WIF
What to do when the market hit your stop-loss🤷
I'm sure you've experienced this before: you entered a trade with your entry price, stop-loss and take profit properly set-up but unfortunately, the market hit your stop-loss. 🤡
The concept of setting a stop-loss is very subjective. Some traders see stop-loss as a very helpful feature to protect their capital. However, other traders also are of the view that when you set a stop-loss, you become a victim of stop-loss hunting.
If you believe in setting stop-loss for your trades, then this is what you could do when the market hit your stop-loss:
1. Don't rush to enter a new trade with the hope of recovering your losses quickly. This could lead to more losses.
2. Review your trade to find out where you got it wrong and make the necessary adjustment to correct the wrongs. Sometimes, you can get everything right with your setup and still the market will hit your stop-loss. Don't take it personal.
3. Be patient and wait for a retest at the zone where the market hit your stop-loss to see how price will react at those key levels before you make a possible entry.
4. Make sure you don't set your stop-loss too close to your entry price.
In conclusion, the stop-loss feature is a very useful tool for day trading. Irrespective of your opinion about stop-loss, I respect your decisions on how you choose to protect your capital.
Feel free to like, comment and follow me for more useful content on trading.
#Token2049 FOMC #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI @CZ $BTC $WIF
I'm sure you've experienced this before: you entered a trade with your entry price, stop-loss and take profit properly set-up but unfortunately, the market hit your stop-loss. 🤡
The concept of setting a stop-loss is very subjective. Some traders see stop-loss as a very helpful feature to protect their capital. However, other traders also are of the view that when you set a stop-loss, you become a victim of stop-loss hunting.
If you believe in setting stop-loss for your trades, then this is what you could do when the market hit your stop-loss:
1. Don't rush to enter a new trade with the hope of recovering your losses quickly. This could lead to more losses.
2. Review your trade to find out where you got it wrong and make the necessary adjustment to correct the wrongs. Sometimes, you can get everything right with your setup and still the market will hit your stop-loss. Don't take it personal.
3. Be patient and wait for a retest at the zone where the market hit your stop-loss to see how price will react at those key levels before you make a possible entry.
4. Make sure you don't set your stop-loss too close to your entry price.
In conclusion, the stop-loss feature is a very useful tool for day trading. Irrespective of your opinion about stop-loss, I respect your decisions on how you choose to protect your capital.
Feel free to like, comment and follow me for more useful content on trading.
#Token2049 FOMC #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI @CZ $BTC $WIF
7 keys to maximise your gains in trading 💰💰💰
1.Always take action when there is a valid, high probability entry signals. Don’t let fear control your decisions and interfere with their trading.
2.Take responsibility, learn from mistakes and move on. Don’t dwell on setbacks.
3.Expect and accept losses as part of the trading game.
4.Focus on following the trading system and not the immediate account equity.
5. Think statistically and keep a long term perspective.
6. Focus on being consistent. Consistently follow pre-determined entry and exit rules.
7. Be patient. Wait only for high probability opportunities.
In conclusion,
The biggest enemy to your trading success is NOT the market but YOU. You're your own enemy. A good trade is a trade where you followed the rules of your trading system and not just a trade that led to a profit.
Kindly like, comment and follow me for more useful content on trading.🌞
@CZ FOMC #NeiroOnBinance #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI $BTC $FET $ARB
1.Always take action when there is a valid, high probability entry signals. Don’t let fear control your decisions and interfere with their trading.
2.Take responsibility, learn from mistakes and move on. Don’t dwell on setbacks.
3.Expect and accept losses as part of the trading game.
4.Focus on following the trading system and not the immediate account equity.
5. Think statistically and keep a long term perspective.
6. Focus on being consistent. Consistently follow pre-determined entry and exit rules.
7. Be patient. Wait only for high probability opportunities.
In conclusion,
The biggest enemy to your trading success is NOT the market but YOU. You're your own enemy. A good trade is a trade where you followed the rules of your trading system and not just a trade that led to a profit.
Kindly like, comment and follow me for more useful content on trading.🌞
@CZ FOMC #NeiroOnBinance #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI $BTC $FET $ARB
Why you keep Losing money 💵🌞 ???
1. Rush into new trades after experiencing a few losses in order to win the money back quickly.
2. Fear taking the next valid trade after a series of losses.
3. Stay in a losing trade ‘hoping’ that things will turn around.
4. Focus on short term results & lose their perspective.
5. Fail to stick to a consistent percentage risk per trade (R%).
6. Constantly changing trading systems/ strategies after experiencing short term losses.
7. Focusing on the account balance instead of following the system.
8. Get emotionally affected by losses- fear, stress & loss in confidence.
9. Blame and find external reasons for their losses.
10. Desire to ‘take revenge’ on a coin, token or even the market after experiencing a loss.
11. Trade with methods that do not suit their personality. It is good to learn from other traders but don't copy them blindly. Learn to adjust and build a trading system that suit your overall personality
In conclusion, there's no single trader who is always right his decisions all the time. We have to make a commitment to learn from our poor trading decisions and not repeat them. That's is when we can see positive results in the market.
kindly like, comment and follow me for daily useful content on trading. Thank you🤝
@CZ #NeiroOnBinance #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI $BTC $NEIRO
1. Rush into new trades after experiencing a few losses in order to win the money back quickly.
2. Fear taking the next valid trade after a series of losses.
3. Stay in a losing trade ‘hoping’ that things will turn around.
4. Focus on short term results & lose their perspective.
5. Fail to stick to a consistent percentage risk per trade (R%).
6. Constantly changing trading systems/ strategies after experiencing short term losses.
7. Focusing on the account balance instead of following the system.
8. Get emotionally affected by losses- fear, stress & loss in confidence.
9. Blame and find external reasons for their losses.
10. Desire to ‘take revenge’ on a coin, token or even the market after experiencing a loss.
11. Trade with methods that do not suit their personality. It is good to learn from other traders but don't copy them blindly. Learn to adjust and build a trading system that suit your overall personality
In conclusion, there's no single trader who is always right his decisions all the time. We have to make a commitment to learn from our poor trading decisions and not repeat them. That's is when we can see positive results in the market.
kindly like, comment and follow me for daily useful content on trading. Thank you🤝
@CZ #NeiroOnBinance #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI $BTC $NEIRO
The danger of taking quick profits.🤬
The goal of every trader/investor is to make profits out of their trading endeavors (business). However, fear may cause most traders to take quick profits.
By taking small profits (e.g. 0.5R) and not allowing winning trades to achieve their fullest profit potential (i.e. 2R), your system may no longer have a positive expectancy. The profits on your winning trades may not be able to cover the losses on your losing trades.
For example, if you take eight (8) trades with 5 wins and 3 losses as shown below;
Win 0.5R
Win 0.2R
Win 0.8R
Win 0.3R
Win 0.4R
Loss -1R
Loss -1R
Loss -1R
Even with more wins (5) than losses (3), you still end up with a negative expectancy in the long run.
In conclusion, I am not in anyway saying DON'T TAKE PROFIT but for each trade your profit and risk ratio should be at least 2:1. So if your trading system tells you to take profit at 2R or 3R, have the discipline to allow your winning trades to achieve their full potential. That is how we can stay profitable in the long run.
Kindly like, comment, and follow me for more useful content. Thank you🤝
#BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI #FTXSolanaRedemption #GrayscaleXRPTrust $BTC $WIF
The goal of every trader/investor is to make profits out of their trading endeavors (business). However, fear may cause most traders to take quick profits.
By taking small profits (e.g. 0.5R) and not allowing winning trades to achieve their fullest profit potential (i.e. 2R), your system may no longer have a positive expectancy. The profits on your winning trades may not be able to cover the losses on your losing trades.
For example, if you take eight (8) trades with 5 wins and 3 losses as shown below;
Win 0.5R
Win 0.2R
Win 0.8R
Win 0.3R
Win 0.4R
Loss -1R
Loss -1R
Loss -1R
Even with more wins (5) than losses (3), you still end up with a negative expectancy in the long run.
In conclusion, I am not in anyway saying DON'T TAKE PROFIT but for each trade your profit and risk ratio should be at least 2:1. So if your trading system tells you to take profit at 2R or 3R, have the discipline to allow your winning trades to achieve their full potential. That is how we can stay profitable in the long run.
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#BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI #FTXSolanaRedemption #GrayscaleXRPTrust $BTC $WIF
Three (3) effective ways to manage your emotions as Trader💰🤔
When trading, you will be facing a whole host of emotions that is tied to money at stake in your account- greed, fear, doubt, hope, excitement etc.
Here are three (3) ways to manage your emotions:
• Be objective and acknowledge your emotions. You identify your emotional patterns when take time to write down how you feel at the beginning, during and at the end of each trade. Be true to yourself because a problem identified is half solved and whatever you can't identify, you can't conquer.
•To be a winning trader, learn to think and act contrary to our natural instincts. Many of our emotional patterns make us lose money. When we are conscious of these patterns, we can overcome them. Trading is for strong MINDS.
• It is advisable to trade at a level of capital & risk where a few losing trades does not ‘hurt’ you emotionally. This level depends on your individual ‘pain threshold’.
In conclusion, Trading is a psychological business and the strong minds take the money of weak minds.
Kindly like, comment and follow me for more useful content on trading. Thank you🤝
#dappOSTheFutureofIntents #DOGSONBINANCE #CPI_BTC_Watch $BTC $WIF $FET
When trading, you will be facing a whole host of emotions that is tied to money at stake in your account- greed, fear, doubt, hope, excitement etc.
Here are three (3) ways to manage your emotions:
• Be objective and acknowledge your emotions. You identify your emotional patterns when take time to write down how you feel at the beginning, during and at the end of each trade. Be true to yourself because a problem identified is half solved and whatever you can't identify, you can't conquer.
•To be a winning trader, learn to think and act contrary to our natural instincts. Many of our emotional patterns make us lose money. When we are conscious of these patterns, we can overcome them. Trading is for strong MINDS.
• It is advisable to trade at a level of capital & risk where a few losing trades does not ‘hurt’ you emotionally. This level depends on your individual ‘pain threshold’.
In conclusion, Trading is a psychological business and the strong minds take the money of weak minds.
Kindly like, comment and follow me for more useful content on trading. Thank you🤝
#dappOSTheFutureofIntents #DOGSONBINANCE #CPI_BTC_Watch $BTC $WIF $FET
3 things you can do in the market daily🌞
As a trader, you're the CEO of your trading business and responsible for decisions such as;
1. Going long ( buy) : You buy low with the expectation to sell high.
2. Going Short (Sell) : You buy high and sell low
3. Doing nothing: In trading, doing nothing is doing something. So don't always think everyday you have to trade. If the market has a clear direction trade it (either long/short) but if you're not sure of the clear direction of the market, don't trade. Stay out of the water.
On a choppy day where there's no clear direction of the market, do nothing ( don't trade ).
In conclusion,
Wait for a clear direction before you jump into the market to look for quality trades.
Successful traders only trade when the odds are in their favour. Kindly like, comment and follow me for more useful contents on trading.
#CPI_BTC_Watch #CryptoMarketMoves $BTC $WIF
As a trader, you're the CEO of your trading business and responsible for decisions such as;
1. Going long ( buy) : You buy low with the expectation to sell high.
2. Going Short (Sell) : You buy high and sell low
3. Doing nothing: In trading, doing nothing is doing something. So don't always think everyday you have to trade. If the market has a clear direction trade it (either long/short) but if you're not sure of the clear direction of the market, don't trade. Stay out of the water.
On a choppy day where there's no clear direction of the market, do nothing ( don't trade ).
In conclusion,
Wait for a clear direction before you jump into the market to look for quality trades.
Successful traders only trade when the odds are in their favour. Kindly like, comment and follow me for more useful contents on trading.
#CPI_BTC_Watch #CryptoMarketMoves $BTC $WIF
Two (2) quick ways to differentiate between a GOOD trade and a BAD trade.🤷
1. A good trade follows the rules of your pre-defined trading strategy but with a bad trade is a trade, you ‘break’ your own rules.
2. A good trade can be a wining trade or a losing trade.
Executing good trades assures long term success and repeatable long term profitability.
However, a bad trade can turn out to be a winning trade. While it may ‘feel good’ in the short term, it reinforces bad trading habits in the long term and may lead to poor performance
in the long term.
#CPI_BTC_Watch $BTC $WIF
1. A good trade follows the rules of your pre-defined trading strategy but with a bad trade is a trade, you ‘break’ your own rules.
2. A good trade can be a wining trade or a losing trade.
Executing good trades assures long term success and repeatable long term profitability.
However, a bad trade can turn out to be a winning trade. While it may ‘feel good’ in the short term, it reinforces bad trading habits in the long term and may lead to poor performance
in the long term.
#CPI_BTC_Watch $BTC $WIF
$BTC Price update
It appears the bears are driving price in full force to test $49k - $51k keys levels.
#USNonFarmPayrollReport
It appears the bears are driving price in full force to test $49k - $51k keys levels.
#USNonFarmPayrollReport
💥Meet Jesse Livermore: Who made the equivalent of more than $3 billion one day.
Jesse Livermore was the greatest stock market trader of his day. Born in 1877, he became a professional trader before most people know you could do such a thing. By age 30 he was worth the inflation-adjusted equivalent of $100million.
By 1929 Jesse Livermore was already one of the most well-known investors in the world. The stock market crashed that year that ushered in the Great depression but it was during this difficult times that he cemented his legacy in history.
More than a third of the stock market’s value was wiped out in October 1929 similar how altcoins have lost an average of 60% of its value and many recorded liquidations. Jesse Livermore had been short the market, betting that stocks would decline in value. In one day, Jesse Livermore made the equivalent of more than $3 billion. During the worst month in the history of the stock market he became one of the richest men in the world.
However, four (4) later, something tragic happened. After his 1929 massive success, Jesse Livermore became very complacent, overflowing with confidence, made larger and larger bets and eventually lost everything. Broke and ashamed, he disappeared for two days in 1933 and took his own life.
Lessons:
He was good with getting wealthy but very bad at staying wealthy.
Getting money is one thing and keeping money is another thing.
Getting money and keeping money are two different skills.
You’re not invincible: there will always be winning days and losing days.
Don’t underestimate the power of risk management.
#USDataImpact #NFPWatch #TON #BNBChainMemecoins $BTC $WIF
Jesse Livermore was the greatest stock market trader of his day. Born in 1877, he became a professional trader before most people know you could do such a thing. By age 30 he was worth the inflation-adjusted equivalent of $100million.
By 1929 Jesse Livermore was already one of the most well-known investors in the world. The stock market crashed that year that ushered in the Great depression but it was during this difficult times that he cemented his legacy in history.
More than a third of the stock market’s value was wiped out in October 1929 similar how altcoins have lost an average of 60% of its value and many recorded liquidations. Jesse Livermore had been short the market, betting that stocks would decline in value. In one day, Jesse Livermore made the equivalent of more than $3 billion. During the worst month in the history of the stock market he became one of the richest men in the world.
However, four (4) later, something tragic happened. After his 1929 massive success, Jesse Livermore became very complacent, overflowing with confidence, made larger and larger bets and eventually lost everything. Broke and ashamed, he disappeared for two days in 1933 and took his own life.
Lessons:
He was good with getting wealthy but very bad at staying wealthy.
Getting money is one thing and keeping money is another thing.
Getting money and keeping money are two different skills.
You’re not invincible: there will always be winning days and losing days.
Don’t underestimate the power of risk management.
#USDataImpact #NFPWatch #TON #BNBChainMemecoins $BTC $WIF
