LIVEPompey Fintech Academy
@Pompey_Fintech_Academy
•••√Crypto Educational Storyteller. •••√Preacher of Crypto and Blockchain Adoption gospel | •••√ Crypto Trader | •••√ WEB 2 (Sales Analyst & Strategist
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Hi Binancians,
Pay attention to the BNB weekly, monthly& daily chart, an obvious pattern is showing
I have added the image of the BNB chart and an extra chart pattern that the BNB chart looks like from the Textbook
I looked at my #BNB chart, and I think we need to talk about the pattern printing there.
As you know I am a Big BNB faithful and admire the progress CZ has made for himself especially starting from a place of uncertainties to a vision of greatness.
That being said, that pattern is "Descending Triangles"
Descending Triangle
As you may have probably guessed, descending triangles should be the exact opposite of ascending triangles (I knew you were smart!).
In descending triangle chart patterns, there is a string of lower highs that forms the upper line. The lower line is a support level in which the price cannot seem to break.
In the chart added, you can see that the price is gradually making lower highs which tells us that the sellers are starting to gain some ground against the buyers.
Now most of the time, and Yes MOST of the time, not always, the price will eventually break the support line and continue to fall.
However, in some cases, the support line will be too strong, and the price will bounce off of it and make a strong move up. (Which I strongly believe will be the case of $BNB )
The good news is that we don’t care where the price goes. We just know that it’s about to go somewhere. (Futures traders will traders where it goes)
In this case, #binancefutures traders would place entry orders above the upper line (the lower highs to LONG) and below the support line to SHORT if it falls.
For Optimistic #Binance Spot trades like me, I will DCA into position to keep buying the dips cos I see CZ's hard work paying out soon
IMO, I think with correlation from #bitcoin and every other factor considered, especially the imminent and the impending Bull Run coming I see$BNB outrunning all altcoins$ETH Inclusive
Hence a bag of a BNB now at this ridiculously lower rates will bring massive ROI gains...
Pay attention to the BNB weekly, monthly& daily chart, an obvious pattern is showing
I have added the image of the BNB chart and an extra chart pattern that the BNB chart looks like from the Textbook
I looked at my #BNB chart, and I think we need to talk about the pattern printing there.
As you know I am a Big BNB faithful and admire the progress CZ has made for himself especially starting from a place of uncertainties to a vision of greatness.
That being said, that pattern is "Descending Triangles"
Descending Triangle
As you may have probably guessed, descending triangles should be the exact opposite of ascending triangles (I knew you were smart!).
In descending triangle chart patterns, there is a string of lower highs that forms the upper line. The lower line is a support level in which the price cannot seem to break.
In the chart added, you can see that the price is gradually making lower highs which tells us that the sellers are starting to gain some ground against the buyers.
Now most of the time, and Yes MOST of the time, not always, the price will eventually break the support line and continue to fall.
However, in some cases, the support line will be too strong, and the price will bounce off of it and make a strong move up. (Which I strongly believe will be the case of $BNB )
The good news is that we don’t care where the price goes. We just know that it’s about to go somewhere. (Futures traders will traders where it goes)
In this case, #binancefutures traders would place entry orders above the upper line (the lower highs to LONG) and below the support line to SHORT if it falls.
For Optimistic #Binance Spot trades like me, I will DCA into position to keep buying the dips cos I see CZ's hard work paying out soon
IMO, I think with correlation from #bitcoin and every other factor considered, especially the imminent and the impending Bull Run coming I see$BNB outrunning all altcoins$ETH Inclusive
Hence a bag of a BNB now at this ridiculously lower rates will bring massive ROI gains...
LIVEPompey Fintech Academy
--
Pay attention to this to take action promptly.
$BTC is going to the 20k region. Why?
Pay attention to all the attached images as I explain my research bias
1. BTC CME gap
The BTC CME gap is a factor in determining where $BTC will go. Advanced Traders agree BTC likes to fill unfilled CME gaps
There are currently CME gaps which need to be filled, 27,400 and 20,300. BTC can easily fill the 27,400, but it will likely come back to 20,300 to fill that gap first before heading to the 27,400 gap...
The reason is that the trading volume of BTC is declining rapidly and the total market cap has seen the lowest trading volume in recent times.
2. Monthly BTC Chart.
As seen in the monthly BTC chart, BTC printed bearish reversal candlestick formations to create a double top and we have been in a downtrend ever since, It requires a bullish reversal pattern for us to go back into an uptrend, which is possible if we hit the 20k region and get a heavy bounce as that region is a big support as seen from the last drop to 19,500k region.
It is also clear that we have again printed a bearish reversal candlestick formation to show that September will be bearish
3. Weekly BTC Chart.
Notice that the 25 and 8 EMA indicators show the market trends on a weekly and as clearly seen the cross shows we are about to go bearish for weeks
4. Daily BTC Chart
Before we broke the trending support line from the 15k region, we printed a hidden Head and Shoulder pattern. That bearish pattern broke out and has retested and it's only but a matter of time before it falls off the cliff to the next support at around 19k, 20k region as 24,800 may not hold or may hold for a while.
5. 4HR BTC Chart
Although my chart here shows no confirmation, it looks like another Head and Shoulder and if true, it confirms the bigger picture as H&S usually shows up on several timeframes on charts, if they are likely to play out well to target.
I've shared with you 5 reasons to be bearish
Take action to catch $BTC's next move.
Kindly note
This info is my research and not financial advice. Follow me for more educational tips.
$BTC is going to the 20k region. Why?
Pay attention to all the attached images as I explain my research bias
1. BTC CME gap
The BTC CME gap is a factor in determining where $BTC will go. Advanced Traders agree BTC likes to fill unfilled CME gaps
There are currently CME gaps which need to be filled, 27,400 and 20,300. BTC can easily fill the 27,400, but it will likely come back to 20,300 to fill that gap first before heading to the 27,400 gap...
The reason is that the trading volume of BTC is declining rapidly and the total market cap has seen the lowest trading volume in recent times.
2. Monthly BTC Chart.
As seen in the monthly BTC chart, BTC printed bearish reversal candlestick formations to create a double top and we have been in a downtrend ever since, It requires a bullish reversal pattern for us to go back into an uptrend, which is possible if we hit the 20k region and get a heavy bounce as that region is a big support as seen from the last drop to 19,500k region.
It is also clear that we have again printed a bearish reversal candlestick formation to show that September will be bearish
3. Weekly BTC Chart.
Notice that the 25 and 8 EMA indicators show the market trends on a weekly and as clearly seen the cross shows we are about to go bearish for weeks
4. Daily BTC Chart
Before we broke the trending support line from the 15k region, we printed a hidden Head and Shoulder pattern. That bearish pattern broke out and has retested and it's only but a matter of time before it falls off the cliff to the next support at around 19k, 20k region as 24,800 may not hold or may hold for a while.
5. 4HR BTC Chart
Although my chart here shows no confirmation, it looks like another Head and Shoulder and if true, it confirms the bigger picture as H&S usually shows up on several timeframes on charts, if they are likely to play out well to target.
I've shared with you 5 reasons to be bearish
Take action to catch $BTC's next move.
Kindly note
This info is my research and not financial advice. Follow me for more educational tips.
Rögzítve
Hey Friend, Pay attention to this chart!!!
Look at it carefully,
Did you notice, the RSRI flat lined for many days on the 3D timeframe, Now we are at the another point where In My Opinion, it will flat line for many days again and we all loose hope and start calling BTC to 25k, 12k, and miss the obvious opportunity here to find a LONG entry
Each time$BTC hits 200MA as support, we know what happens, So my strong opinion, is we will still drop to touch 200MA, touch trending support line before we go ballistic,
IMO this is the move not to be missed like when I called the 24,800 BTC(see images)
I don't trade BTC, I use it to guide my Swing LONGs in profitable low cap alts that move faster than BTC.
But with patience& mid high leverage, BTC can make good gains.
Just my random thoughts...
🙏Make out Sense from my nonsense...
Look at it carefully,
Did you notice, the RSRI flat lined for many days on the 3D timeframe, Now we are at the another point where In My Opinion, it will flat line for many days again and we all loose hope and start calling BTC to 25k, 12k, and miss the obvious opportunity here to find a LONG entry
Each time$BTC hits 200MA as support, we know what happens, So my strong opinion, is we will still drop to touch 200MA, touch trending support line before we go ballistic,
IMO this is the move not to be missed like when I called the 24,800 BTC(see images)
I don't trade BTC, I use it to guide my Swing LONGs in profitable low cap alts that move faster than BTC.
But with patience& mid high leverage, BTC can make good gains.
Just my random thoughts...
🙏Make out Sense from my nonsense...
Hey Binance Family.
So sorry have been away for a while, had to deal with some stuff away from the charts...
As u can see $BNB has moved according to the prediction and chart pattern illustrated in the tagged post posted last year.
So if you made a move, you would have made so much money, if you bought on spot, or @Binance futures too.
I will be dropping fresher updates soon on the next move or trades to take.
IMO @CZ BNB will hit $1000 this full run, that's like a 2x from current market prices.
So hold and take partials if you wish to trade other tokens...
Stay safe and DONT FALL FOR SCAMS.
LOVE YOU GUYS.
@Pompey Fintech Academy is here for you. HIT ME UP WITH UR Comments, questions and TIPS🤑
So sorry have been away for a while, had to deal with some stuff away from the charts...
As u can see $BNB has moved according to the prediction and chart pattern illustrated in the tagged post posted last year.
So if you made a move, you would have made so much money, if you bought on spot, or @Binance futures too.
I will be dropping fresher updates soon on the next move or trades to take.
IMO @CZ BNB will hit $1000 this full run, that's like a 2x from current market prices.
So hold and take partials if you wish to trade other tokens...
Stay safe and DONT FALL FOR SCAMS.
LOVE YOU GUYS.
@Pompey Fintech Academy is here for you. HIT ME UP WITH UR Comments, questions and TIPS🤑
LIVEPompey Fintech Academy
--
Hi Binancians,
Pay attention to the BNB weekly, monthly& daily chart, an obvious pattern is showing
I have added the image of the BNB chart and an extra chart pattern that the BNB chart looks like from the Textbook
I looked at my #BNB chart, and I think we need to talk about the pattern printing there.
As you know I am a Big BNB faithful and admire the progress CZ has made for himself especially starting from a place of uncertainties to a vision of greatness.
That being said, that pattern is "Descending Triangles"
Descending Triangle
As you may have probably guessed, descending triangles should be the exact opposite of ascending triangles (I knew you were smart!).
In descending triangle chart patterns, there is a string of lower highs that forms the upper line. The lower line is a support level in which the price cannot seem to break.
In the chart added, you can see that the price is gradually making lower highs which tells us that the sellers are starting to gain some ground against the buyers.
Now most of the time, and Yes MOST of the time, not always, the price will eventually break the support line and continue to fall.
However, in some cases, the support line will be too strong, and the price will bounce off of it and make a strong move up. (Which I strongly believe will be the case of $BNB )
The good news is that we don’t care where the price goes. We just know that it’s about to go somewhere. (Futures traders will traders where it goes)
In this case, #binancefutures traders would place entry orders above the upper line (the lower highs to LONG) and below the support line to SHORT if it falls.
For Optimistic #Binance Spot trades like me, I will DCA into position to keep buying the dips cos I see CZ's hard work paying out soon
IMO, I think with correlation from #bitcoin and every other factor considered, especially the imminent and the impending Bull Run coming I see$BNB outrunning all altcoins$ETH Inclusive
Hence a bag of a BNB now at this ridiculously lower rates will bring massive ROI gains...
Pay attention to the BNB weekly, monthly& daily chart, an obvious pattern is showing
I have added the image of the BNB chart and an extra chart pattern that the BNB chart looks like from the Textbook
I looked at my #BNB chart, and I think we need to talk about the pattern printing there.
As you know I am a Big BNB faithful and admire the progress CZ has made for himself especially starting from a place of uncertainties to a vision of greatness.
That being said, that pattern is "Descending Triangles"
Descending Triangle
As you may have probably guessed, descending triangles should be the exact opposite of ascending triangles (I knew you were smart!).
In descending triangle chart patterns, there is a string of lower highs that forms the upper line. The lower line is a support level in which the price cannot seem to break.
In the chart added, you can see that the price is gradually making lower highs which tells us that the sellers are starting to gain some ground against the buyers.
Now most of the time, and Yes MOST of the time, not always, the price will eventually break the support line and continue to fall.
However, in some cases, the support line will be too strong, and the price will bounce off of it and make a strong move up. (Which I strongly believe will be the case of $BNB )
The good news is that we don’t care where the price goes. We just know that it’s about to go somewhere. (Futures traders will traders where it goes)
In this case, #binancefutures traders would place entry orders above the upper line (the lower highs to LONG) and below the support line to SHORT if it falls.
For Optimistic #Binance Spot trades like me, I will DCA into position to keep buying the dips cos I see CZ's hard work paying out soon
IMO, I think with correlation from #bitcoin and every other factor considered, especially the imminent and the impending Bull Run coming I see$BNB outrunning all altcoins$ETH Inclusive
Hence a bag of a BNB now at this ridiculously lower rates will bring massive ROI gains...
Hey Binance Family, guess who is back?
Its Pompey Fintech Academy.
Am so sorry, I've been mute. I had to attend to a lot of things in my web2 space.
But am back ow and will start with #MyFirstSquarePost after a while.
So it seem #CZ stepped down and #RichardTeng is now CEO, and the market did a -5% and just a day after or two, we are up +6%.
What does that tell you?
#Binance is dope and SAFU.
Also heard that #MtGox #WLD........(mouth zipped)
let me keep that for my next post.
Its Pompey Fintech Academy.
Am so sorry, I've been mute. I had to attend to a lot of things in my web2 space.
But am back ow and will start with #MyFirstSquarePost after a while.
So it seem #CZ stepped down and #RichardTeng is now CEO, and the market did a -5% and just a day after or two, we are up +6%.
What does that tell you?
#Binance is dope and SAFU.
Also heard that #MtGox #WLD........(mouth zipped)
let me keep that for my next post.
Go to your chart and see where $BTC is!
Stop fading my analysis and start taking profitable action
A Word is enough for the wise......
Stop fading my analysis and start taking profitable action
A Word is enough for the wise......
LIVEPompey Fintech Academy
--
Did you see my bias on$BTC ?
#bitcoin is following as expected
Remember to trade with caution, #BTC will drop to the 24,800 region where it will be massively supported.
if #bitcoin loses that support, we will go down to 21k - 23k800 region
#bitcoin is following as expected
Remember to trade with caution, #BTC will drop to the 24,800 region where it will be massively supported.
if #bitcoin loses that support, we will go down to 21k - 23k800 region
Pay attention to this to take action promptly.
$BTC is going to the 20k region. Why?
Pay attention to all the attached images as I explain my research bias
1. BTC CME gap
The BTC CME gap is a factor in determining where $BTC will go. Advanced Traders agree BTC likes to fill unfilled CME gaps
There are currently CME gaps which need to be filled, 27,400 and 20,300. BTC can easily fill the 27,400, but it will likely come back to 20,300 to fill that gap first before heading to the 27,400 gap...
The reason is that the trading volume of BTC is declining rapidly and the total market cap has seen the lowest trading volume in recent times.
2. Monthly BTC Chart.
As seen in the monthly BTC chart, BTC printed bearish reversal candlestick formations to create a double top and we have been in a downtrend ever since, It requires a bullish reversal pattern for us to go back into an uptrend, which is possible if we hit the 20k region and get a heavy bounce as that region is a big support as seen from the last drop to 19,500k region.
It is also clear that we have again printed a bearish reversal candlestick formation to show that September will be bearish
3. Weekly BTC Chart.
Notice that the 25 and 8 EMA indicators show the market trends on a weekly and as clearly seen the cross shows we are about to go bearish for weeks
4. Daily BTC Chart
Before we broke the trending support line from the 15k region, we printed a hidden Head and Shoulder pattern. That bearish pattern broke out and has retested and it's only but a matter of time before it falls off the cliff to the next support at around 19k, 20k region as 24,800 may not hold or may hold for a while.
5. 4HR BTC Chart
Although my chart here shows no confirmation, it looks like another Head and Shoulder and if true, it confirms the bigger picture as H&S usually shows up on several timeframes on charts, if they are likely to play out well to target.
I've shared with you 5 reasons to be bearish
Take action to catch $BTC 's next move.
Kindly note
This info is my research and not financial advice. Follow me for more educational tips.
$BTC is going to the 20k region. Why?
Pay attention to all the attached images as I explain my research bias
1. BTC CME gap
The BTC CME gap is a factor in determining where $BTC will go. Advanced Traders agree BTC likes to fill unfilled CME gaps
There are currently CME gaps which need to be filled, 27,400 and 20,300. BTC can easily fill the 27,400, but it will likely come back to 20,300 to fill that gap first before heading to the 27,400 gap...
The reason is that the trading volume of BTC is declining rapidly and the total market cap has seen the lowest trading volume in recent times.
2. Monthly BTC Chart.
As seen in the monthly BTC chart, BTC printed bearish reversal candlestick formations to create a double top and we have been in a downtrend ever since, It requires a bullish reversal pattern for us to go back into an uptrend, which is possible if we hit the 20k region and get a heavy bounce as that region is a big support as seen from the last drop to 19,500k region.
It is also clear that we have again printed a bearish reversal candlestick formation to show that September will be bearish
3. Weekly BTC Chart.
Notice that the 25 and 8 EMA indicators show the market trends on a weekly and as clearly seen the cross shows we are about to go bearish for weeks
4. Daily BTC Chart
Before we broke the trending support line from the 15k region, we printed a hidden Head and Shoulder pattern. That bearish pattern broke out and has retested and it's only but a matter of time before it falls off the cliff to the next support at around 19k, 20k region as 24,800 may not hold or may hold for a while.
5. 4HR BTC Chart
Although my chart here shows no confirmation, it looks like another Head and Shoulder and if true, it confirms the bigger picture as H&S usually shows up on several timeframes on charts, if they are likely to play out well to target.
I've shared with you 5 reasons to be bearish
Take action to catch $BTC 's next move.
Kindly note
This info is my research and not financial advice. Follow me for more educational tips.
LIVEPompey Fintech Academy
--
Hey Friend, Pay attention to this chart!!!
Look at it carefully,
Did you notice, the RSRI flat lined for many days on the 3D timeframe, Now we are at the another point where In My Opinion, it will flat line for many days again and we all loose hope and start calling BTC to 25k, 12k, and miss the obvious opportunity here to find a LONG entry
Each time$BTC hits 200MA as support, we know what happens, So my strong opinion, is we will still drop to touch 200MA, touch trending support line before we go ballistic,
IMO this is the move not to be missed like when I called the 24,800 BTC(see images)
I don't trade BTC, I use it to guide my Swing LONGs in profitable low cap alts that move faster than BTC.
But with patience& mid high leverage, BTC can make good gains.
Just my random thoughts...
🙏Make out Sense from my nonsense...
Look at it carefully,
Did you notice, the RSRI flat lined for many days on the 3D timeframe, Now we are at the another point where In My Opinion, it will flat line for many days again and we all loose hope and start calling BTC to 25k, 12k, and miss the obvious opportunity here to find a LONG entry
Each time$BTC hits 200MA as support, we know what happens, So my strong opinion, is we will still drop to touch 200MA, touch trending support line before we go ballistic,
IMO this is the move not to be missed like when I called the 24,800 BTC(see images)
I don't trade BTC, I use it to guide my Swing LONGs in profitable low cap alts that move faster than BTC.
But with patience& mid high leverage, BTC can make good gains.
Just my random thoughts...
🙏Make out Sense from my nonsense...
DO NOT MISS the SHORT to $20k $BTC and $1500$ETH
will be dropping my analysis soon
Make sure you are following me to see it and take actions soon as I drop it
will be dropping my analysis soon
Make sure you are following me to see it and take actions soon as I drop it
LIVEPompey Fintech Academy
--
This is not the time to cry BTC is going to 12k
It is the time to ladder into a Big LONG position in #Binance Spot or with very low leverage in #Binance futures IMO.
In the quoted post I made this Morning, I got some responses that insinuated that I was misleading newbies because they were bullish and didn't see the obvious my chart showed.
$BTC dump was due and inevitable
30k was rejected severally, and no support was strong enough to propel us past that resistance, we were losing key levels, it was only a matter of time before we fell off the cliff
Look @ your BTC chart!
Did$BTC come to my POI & below.
Ofcourse I can't be 💯 accurate, but we are in the range of a relief, retest and then highs from here...
Long term $BNB & good low caps are good to bag at the discounts offered by the market.
Just another random thought...
It is the time to ladder into a Big LONG position in #Binance Spot or with very low leverage in #Binance futures IMO.
In the quoted post I made this Morning, I got some responses that insinuated that I was misleading newbies because they were bullish and didn't see the obvious my chart showed.
$BTC dump was due and inevitable
30k was rejected severally, and no support was strong enough to propel us past that resistance, we were losing key levels, it was only a matter of time before we fell off the cliff
Look @ your BTC chart!
Did$BTC come to my POI & below.
Ofcourse I can't be 💯 accurate, but we are in the range of a relief, retest and then highs from here...
Long term $BNB & good low caps are good to bag at the discounts offered by the market.
Just another random thought...
Conclusion
Make no mistake;
Trading is not the easiest way to make money for most people.
But if your primary goal is not to make money and that you want to learn from the process and develop yourself.
Then plan to use the info from these 7 counterintuitive tips, as it will prepare you for the challenge of trading while controlling your emotional.
If you succeed, beyond the financial rewards, you will learn valuable life lessons.
However, because these ideas and advice are not intuitive, it’s almost impossible to heed them effectively right from the start. It takes trading experience, consisting of disappointment and regret, to internalize them fully.
Nonetheless, by reviewing and reflecting on them, you can shorten our journey toward becoming mature and being a consistent trader.
Many successful professionals from other fields struggle when they try to trade for a living.
One big reason is that trading has several crucial aspects that run against our intuition.
These seven trading tips that explain these aspects and help to improve our odds in this worthy challenge.
If you pay attention to what these top traders say, you will find common themes like the importance of risk management, trading psychology, and emotional resilience. These are general topics that are relevant for all traders.
Feel free to read about the 7 counterintuitive tips to A-game your trading
Make no mistake;
Trading is not the easiest way to make money for most people.
But if your primary goal is not to make money and that you want to learn from the process and develop yourself.
Then plan to use the info from these 7 counterintuitive tips, as it will prepare you for the challenge of trading while controlling your emotional.
If you succeed, beyond the financial rewards, you will learn valuable life lessons.
However, because these ideas and advice are not intuitive, it’s almost impossible to heed them effectively right from the start. It takes trading experience, consisting of disappointment and regret, to internalize them fully.
Nonetheless, by reviewing and reflecting on them, you can shorten our journey toward becoming mature and being a consistent trader.
Many successful professionals from other fields struggle when they try to trade for a living.
One big reason is that trading has several crucial aspects that run against our intuition.
These seven trading tips that explain these aspects and help to improve our odds in this worthy challenge.
If you pay attention to what these top traders say, you will find common themes like the importance of risk management, trading psychology, and emotional resilience. These are general topics that are relevant for all traders.
Feel free to read about the 7 counterintuitive tips to A-game your trading
LIVEPompey Fintech Academy
--
Tip #3: The focus is not on winning. It’s on not losing.
Making money is the goal of trading, so it makes sense for new traders to focus on making money from the markets.
They ask questions like these:
👉How can I make the most money?
👉Which strategy is the most profitable?
👉What leverage can I take on to maximize my earnings?
But these are the wrong questions to focus on. With luck, anyone can make money. But it takes more than a chance to make money without running the risk of ruin.
Take note of the next line:
"The risk of ruin is the probability of ruining your trading capital to the extent that you can no longer execute your trading plan. The key is to stay in the game long enough so that you can profit."
Emphasis should be placed on the need to preserve your trading capital.
"I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have"- Paul Tudor Jones
An obsession with risk and how much you can lose is the hallmark of professional traders and investors.
Joel Greenblatt applied a risk-based mindset to his position-sizing decisions which enabled him to set stop-losses logically
"My largest positions aren’t the ones I think I’m going to make the most money from. My largest positions are the ones where I don’t think I’m going to lose money"- Joel Greenblatt
An intuitive focus on profits creates a tendency to trade positions that are too large and risky, no wonder, A top Trader suggested cutting your positions by half. This advice might sound simplistic, but it highlights a real and common problem of overtrading. His exact words were;
'Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half'.- Bruce Kovner
What are your thoughts on counterintuitive tips 1-3 shared from the financial markets global Top Traders?
Feel free to respond in the comment Section.
If you missed tip 1& 2, click the tagged post below to go read
Making money is the goal of trading, so it makes sense for new traders to focus on making money from the markets.
They ask questions like these:
👉How can I make the most money?
👉Which strategy is the most profitable?
👉What leverage can I take on to maximize my earnings?
But these are the wrong questions to focus on. With luck, anyone can make money. But it takes more than a chance to make money without running the risk of ruin.
Take note of the next line:
"The risk of ruin is the probability of ruining your trading capital to the extent that you can no longer execute your trading plan. The key is to stay in the game long enough so that you can profit."
Emphasis should be placed on the need to preserve your trading capital.
"I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have"- Paul Tudor Jones
An obsession with risk and how much you can lose is the hallmark of professional traders and investors.
Joel Greenblatt applied a risk-based mindset to his position-sizing decisions which enabled him to set stop-losses logically
"My largest positions aren’t the ones I think I’m going to make the most money from. My largest positions are the ones where I don’t think I’m going to lose money"- Joel Greenblatt
An intuitive focus on profits creates a tendency to trade positions that are too large and risky, no wonder, A top Trader suggested cutting your positions by half. This advice might sound simplistic, but it highlights a real and common problem of overtrading. His exact words were;
'Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half'.- Bruce Kovner
What are your thoughts on counterintuitive tips 1-3 shared from the financial markets global Top Traders?
Feel free to respond in the comment Section.
If you missed tip 1& 2, click the tagged post below to go read
Tip #7: How often you win is less important than you think
Traders often seek high win rates. However, the effort to ensure high hit rates is often misplaced because the win rate is only part of the equation.
The most critical equation a trader must know:
👉Expectancy = (Winning Probability x Average Winning Amount) – (Losing Probability x Average Losing Amount)
That formula encapsulates what trading is all about hence a trader's job is to ensure that expectancy is positive.
💡Positive expectancy is a core concept for traders, and no one should trade without a firm understanding of it.
If you understand expectancy, you will understand these quotes from Paul Tudor Jones and George Soros.
"5:1 (risk /reward). Five to one means I’m risking one dollar to make five. What five to one does is allow you to have a hit ratio of 20%. I can be a complete imbecile. I can be wrong 80% of the time, and I’m still not going to lose''.- Paul Tudor Jones
"It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong''.- George Soros
👉What is crucial here is to appreciate that a profitable trading strategy can take on different profiles.
👉It might have a high or low win rate; it might involve large or small average wins/losses.
✒But it does not matter as long as your strategy produces positive expectancy.
👉What matters is to ensure that you are financially and emotionally prepared to handle the risk profile of your trading strategy.
For instance:
👉For strategies with low hit rates, can you accept multiple consecutive losses without falling into revenge trading mode?
👉For methods with high win rates but occasional huge losses, do you have the capital to sustain the less frequent but huge losses?
This post climaxes the 7 counterintuitive tips I have been sharing for days using quotes from the financial market's top traders.
My next post will be a conclusive post that highlights all the key takeaways from the 7 counter-intuitive tips to become a successful trader
Traders often seek high win rates. However, the effort to ensure high hit rates is often misplaced because the win rate is only part of the equation.
The most critical equation a trader must know:
👉Expectancy = (Winning Probability x Average Winning Amount) – (Losing Probability x Average Losing Amount)
That formula encapsulates what trading is all about hence a trader's job is to ensure that expectancy is positive.
💡Positive expectancy is a core concept for traders, and no one should trade without a firm understanding of it.
If you understand expectancy, you will understand these quotes from Paul Tudor Jones and George Soros.
"5:1 (risk /reward). Five to one means I’m risking one dollar to make five. What five to one does is allow you to have a hit ratio of 20%. I can be a complete imbecile. I can be wrong 80% of the time, and I’m still not going to lose''.- Paul Tudor Jones
"It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong''.- George Soros
👉What is crucial here is to appreciate that a profitable trading strategy can take on different profiles.
👉It might have a high or low win rate; it might involve large or small average wins/losses.
✒But it does not matter as long as your strategy produces positive expectancy.
👉What matters is to ensure that you are financially and emotionally prepared to handle the risk profile of your trading strategy.
For instance:
👉For strategies with low hit rates, can you accept multiple consecutive losses without falling into revenge trading mode?
👉For methods with high win rates but occasional huge losses, do you have the capital to sustain the less frequent but huge losses?
This post climaxes the 7 counterintuitive tips I have been sharing for days using quotes from the financial market's top traders.
My next post will be a conclusive post that highlights all the key takeaways from the 7 counter-intuitive tips to become a successful trader
LIVEPompey Fintech Academy
--
Tip #5: A trader does not need to be a genius.
Smart people succeed. That’s what most of us think. But intelligence is secondary for trading successfully.
A successful trader says that
"All the math you need in the stock market you get in the fourth grade."- Peter Lynch
So if intelligence is not the key to trading successfully, what is?
Let another successful trader tell us:
"The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading."- Victor Sperandeo
If you have sufficient trading experience, you would have struggled with issues like overtrading, losing streaks, and revenge trading. So you will agree with Victor Sperandeo. But we can benefit from a reminder from time to time.
If you are new to trading, I might not have convinced you of the importance of the emotional side of trading. But keep this idea at the back of your mind, and hopefully, it will shorten your search for the Holy Grail.
My advice is adopt the theory of multiple intelligences. a high intrapersonal intelligence would benefit traders
Tip #6: The harder you try to make money, the harder it is for you to do so.
The goal of a successful trader is to make the best trades. Money is secondary.- Alexander Elder
👉Focusing on making the best trades means focusing on the process.
👉When you focus on the process, you will find ways to improve.
👉When you focus on the results, you will find distractions as you hop around without a consistent approach.
So let the money be a by-product of a solid trading process.
"If a trader is motivated by the money, then it is the wrong reason. A truly successful trader has got to be involved and into the trading, the money is the side issue… The principal motivation is not the trappings of success. It’s usually the by-product – simply stated, “the game’s the thing”.- Bill Lipschutz
A related point - anyone who is facing financial difficulties should not trade.
If you feel that you have to make money, that presents a distraction to your trading performance.
Smart people succeed. That’s what most of us think. But intelligence is secondary for trading successfully.
A successful trader says that
"All the math you need in the stock market you get in the fourth grade."- Peter Lynch
So if intelligence is not the key to trading successfully, what is?
Let another successful trader tell us:
"The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading."- Victor Sperandeo
If you have sufficient trading experience, you would have struggled with issues like overtrading, losing streaks, and revenge trading. So you will agree with Victor Sperandeo. But we can benefit from a reminder from time to time.
If you are new to trading, I might not have convinced you of the importance of the emotional side of trading. But keep this idea at the back of your mind, and hopefully, it will shorten your search for the Holy Grail.
My advice is adopt the theory of multiple intelligences. a high intrapersonal intelligence would benefit traders
Tip #6: The harder you try to make money, the harder it is for you to do so.
The goal of a successful trader is to make the best trades. Money is secondary.- Alexander Elder
👉Focusing on making the best trades means focusing on the process.
👉When you focus on the process, you will find ways to improve.
👉When you focus on the results, you will find distractions as you hop around without a consistent approach.
So let the money be a by-product of a solid trading process.
"If a trader is motivated by the money, then it is the wrong reason. A truly successful trader has got to be involved and into the trading, the money is the side issue… The principal motivation is not the trappings of success. It’s usually the by-product – simply stated, “the game’s the thing”.- Bill Lipschutz
A related point - anyone who is facing financial difficulties should not trade.
If you feel that you have to make money, that presents a distraction to your trading performance.
Tip #5: A trader does not need to be a genius.
Smart people succeed. That’s what most of us think. But intelligence is secondary for trading successfully.
A successful trader says that
"All the math you need in the stock market you get in the fourth grade."- Peter Lynch
So if intelligence is not the key to trading successfully, what is?
Let another successful trader tell us:
"The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading."- Victor Sperandeo
If you have sufficient trading experience, you would have struggled with issues like overtrading, losing streaks, and revenge trading. So you will agree with Victor Sperandeo. But we can benefit from a reminder from time to time.
If you are new to trading, I might not have convinced you of the importance of the emotional side of trading. But keep this idea at the back of your mind, and hopefully, it will shorten your search for the Holy Grail.
My advice is adopt the theory of multiple intelligences. a high intrapersonal intelligence would benefit traders
Tip #6: The harder you try to make money, the harder it is for you to do so.
The goal of a successful trader is to make the best trades. Money is secondary.- Alexander Elder
👉Focusing on making the best trades means focusing on the process.
👉When you focus on the process, you will find ways to improve.
👉When you focus on the results, you will find distractions as you hop around without a consistent approach.
So let the money be a by-product of a solid trading process.
"If a trader is motivated by the money, then it is the wrong reason. A truly successful trader has got to be involved and into the trading, the money is the side issue… The principal motivation is not the trappings of success. It’s usually the by-product – simply stated, “the game’s the thing”.- Bill Lipschutz
A related point - anyone who is facing financial difficulties should not trade.
If you feel that you have to make money, that presents a distraction to your trading performance.
Smart people succeed. That’s what most of us think. But intelligence is secondary for trading successfully.
A successful trader says that
"All the math you need in the stock market you get in the fourth grade."- Peter Lynch
So if intelligence is not the key to trading successfully, what is?
Let another successful trader tell us:
"The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading."- Victor Sperandeo
If you have sufficient trading experience, you would have struggled with issues like overtrading, losing streaks, and revenge trading. So you will agree with Victor Sperandeo. But we can benefit from a reminder from time to time.
If you are new to trading, I might not have convinced you of the importance of the emotional side of trading. But keep this idea at the back of your mind, and hopefully, it will shorten your search for the Holy Grail.
My advice is adopt the theory of multiple intelligences. a high intrapersonal intelligence would benefit traders
Tip #6: The harder you try to make money, the harder it is for you to do so.
The goal of a successful trader is to make the best trades. Money is secondary.- Alexander Elder
👉Focusing on making the best trades means focusing on the process.
👉When you focus on the process, you will find ways to improve.
👉When you focus on the results, you will find distractions as you hop around without a consistent approach.
So let the money be a by-product of a solid trading process.
"If a trader is motivated by the money, then it is the wrong reason. A truly successful trader has got to be involved and into the trading, the money is the side issue… The principal motivation is not the trappings of success. It’s usually the by-product – simply stated, “the game’s the thing”.- Bill Lipschutz
A related point - anyone who is facing financial difficulties should not trade.
If you feel that you have to make money, that presents a distraction to your trading performance.
LIVEPompey Fintech Academy
--
Bikajellegű
Tip #4: Demanding for certainty is not productive.
Humans hate uncertainty.
Security means a lot to us, and we naturally seek certainty in our endeavors.
Having security in life allows us to focus our energy to achieve more.
However, this natural tendency to demand certainty is at odds with the market’s behavior and can damage trading performance.
'The most effective and functional trading belief that he can acquire is ‘anything can happen’. Aside from the fact that it is the truth, it will act as a solid foundation for building every other belief and attitude that he needs to be a successful trader'.- Mark Douglas
As Mark Douglas pointed out, it is crucial to realize and accept that “anything can happen.”
Accepting uncertainty is critical for all market participants, regardless of whether you are a day trader, swing trader or futures trader.
As a trader, if you insist on certainty and want the one true answer, you will be stuck in a vicious cycle.
'There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer'.-Jack Schwager
I agree 💯 with Jack Schwager on this, because He has interviewed dozens of top traders, and I highly recommend his Market Wizards series.
So how should traders cope with the inherent market uncertainty?
Veteran trader Linda Raschke has a great piece of advice for us;
'In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future… Thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen'.- Linda Raschke
To paraphrase her:
👉The markets are inherently uncertain because humans are.
👉The successful trader is an expert at managing uncertainty.
👉In a nutshell, accept uncertainty and learn to manage it.
If you missed any of my post on counterintuitive Tip# 1-3, click the pinned post👇 below to get access to them
Humans hate uncertainty.
Security means a lot to us, and we naturally seek certainty in our endeavors.
Having security in life allows us to focus our energy to achieve more.
However, this natural tendency to demand certainty is at odds with the market’s behavior and can damage trading performance.
'The most effective and functional trading belief that he can acquire is ‘anything can happen’. Aside from the fact that it is the truth, it will act as a solid foundation for building every other belief and attitude that he needs to be a successful trader'.- Mark Douglas
As Mark Douglas pointed out, it is crucial to realize and accept that “anything can happen.”
Accepting uncertainty is critical for all market participants, regardless of whether you are a day trader, swing trader or futures trader.
As a trader, if you insist on certainty and want the one true answer, you will be stuck in a vicious cycle.
'There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer'.-Jack Schwager
I agree 💯 with Jack Schwager on this, because He has interviewed dozens of top traders, and I highly recommend his Market Wizards series.
So how should traders cope with the inherent market uncertainty?
Veteran trader Linda Raschke has a great piece of advice for us;
'In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future… Thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen'.- Linda Raschke
To paraphrase her:
👉The markets are inherently uncertain because humans are.
👉The successful trader is an expert at managing uncertainty.
👉In a nutshell, accept uncertainty and learn to manage it.
If you missed any of my post on counterintuitive Tip# 1-3, click the pinned post👇 below to get access to them
Tip #4: Demanding for certainty is not productive.
Humans hate uncertainty.
Security means a lot to us, and we naturally seek certainty in our endeavors.
Having security in life allows us to focus our energy to achieve more.
However, this natural tendency to demand certainty is at odds with the market’s behavior and can damage trading performance.
'The most effective and functional trading belief that he can acquire is ‘anything can happen’. Aside from the fact that it is the truth, it will act as a solid foundation for building every other belief and attitude that he needs to be a successful trader'.- Mark Douglas
As Mark Douglas pointed out, it is crucial to realize and accept that “anything can happen.”
Accepting uncertainty is critical for all market participants, regardless of whether you are a day trader, swing trader or futures trader.
As a trader, if you insist on certainty and want the one true answer, you will be stuck in a vicious cycle.
'There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer'.-Jack Schwager
I agree 💯 with Jack Schwager on this, because He has interviewed dozens of top traders, and I highly recommend his Market Wizards series.
So how should traders cope with the inherent market uncertainty?
Veteran trader Linda Raschke has a great piece of advice for us;
'In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future… Thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen'.- Linda Raschke
To paraphrase her:
👉The markets are inherently uncertain because humans are.
👉The successful trader is an expert at managing uncertainty.
👉In a nutshell, accept uncertainty and learn to manage it.
If you missed any of my post on counterintuitive Tip# 1-3, click the pinned post👇 below to get access to them
Humans hate uncertainty.
Security means a lot to us, and we naturally seek certainty in our endeavors.
Having security in life allows us to focus our energy to achieve more.
However, this natural tendency to demand certainty is at odds with the market’s behavior and can damage trading performance.
'The most effective and functional trading belief that he can acquire is ‘anything can happen’. Aside from the fact that it is the truth, it will act as a solid foundation for building every other belief and attitude that he needs to be a successful trader'.- Mark Douglas
As Mark Douglas pointed out, it is crucial to realize and accept that “anything can happen.”
Accepting uncertainty is critical for all market participants, regardless of whether you are a day trader, swing trader or futures trader.
As a trader, if you insist on certainty and want the one true answer, you will be stuck in a vicious cycle.
'There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer'.-Jack Schwager
I agree 💯 with Jack Schwager on this, because He has interviewed dozens of top traders, and I highly recommend his Market Wizards series.
So how should traders cope with the inherent market uncertainty?
Veteran trader Linda Raschke has a great piece of advice for us;
'In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future… Thus the successful trader does not base moves on what supposedly will happen but reacts instead to what does happen'.- Linda Raschke
To paraphrase her:
👉The markets are inherently uncertain because humans are.
👉The successful trader is an expert at managing uncertainty.
👉In a nutshell, accept uncertainty and learn to manage it.
If you missed any of my post on counterintuitive Tip# 1-3, click the pinned post👇 below to get access to them
LIVEPompey Fintech Academy
--
Tip #3: The focus is not on winning. It’s on not losing.
Making money is the goal of trading, so it makes sense for new traders to focus on making money from the markets.
They ask questions like these:
👉How can I make the most money?
👉Which strategy is the most profitable?
👉What leverage can I take on to maximize my earnings?
But these are the wrong questions to focus on. With luck, anyone can make money. But it takes more than a chance to make money without running the risk of ruin.
Take note of the next line:
"The risk of ruin is the probability of ruining your trading capital to the extent that you can no longer execute your trading plan. The key is to stay in the game long enough so that you can profit."
Emphasis should be placed on the need to preserve your trading capital.
"I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have"- Paul Tudor Jones
An obsession with risk and how much you can lose is the hallmark of professional traders and investors.
Joel Greenblatt applied a risk-based mindset to his position-sizing decisions which enabled him to set stop-losses logically
"My largest positions aren’t the ones I think I’m going to make the most money from. My largest positions are the ones where I don’t think I’m going to lose money"- Joel Greenblatt
An intuitive focus on profits creates a tendency to trade positions that are too large and risky, no wonder, A top Trader suggested cutting your positions by half. This advice might sound simplistic, but it highlights a real and common problem of overtrading. His exact words were;
'Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half'.- Bruce Kovner
What are your thoughts on counterintuitive tips 1-3 shared from the financial markets global Top Traders?
Feel free to respond in the comment Section.
If you missed tip 1& 2, click the tagged post below to go read
Making money is the goal of trading, so it makes sense for new traders to focus on making money from the markets.
They ask questions like these:
👉How can I make the most money?
👉Which strategy is the most profitable?
👉What leverage can I take on to maximize my earnings?
But these are the wrong questions to focus on. With luck, anyone can make money. But it takes more than a chance to make money without running the risk of ruin.
Take note of the next line:
"The risk of ruin is the probability of ruining your trading capital to the extent that you can no longer execute your trading plan. The key is to stay in the game long enough so that you can profit."
Emphasis should be placed on the need to preserve your trading capital.
"I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have"- Paul Tudor Jones
An obsession with risk and how much you can lose is the hallmark of professional traders and investors.
Joel Greenblatt applied a risk-based mindset to his position-sizing decisions which enabled him to set stop-losses logically
"My largest positions aren’t the ones I think I’m going to make the most money from. My largest positions are the ones where I don’t think I’m going to lose money"- Joel Greenblatt
An intuitive focus on profits creates a tendency to trade positions that are too large and risky, no wonder, A top Trader suggested cutting your positions by half. This advice might sound simplistic, but it highlights a real and common problem of overtrading. His exact words were;
'Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half'.- Bruce Kovner
What are your thoughts on counterintuitive tips 1-3 shared from the financial markets global Top Traders?
Feel free to respond in the comment Section.
If you missed tip 1& 2, click the tagged post below to go read
Tip #3: The focus is not on winning. It’s on not losing.
Making money is the goal of trading, so it makes sense for new traders to focus on making money from the markets.
They ask questions like these:
👉How can I make the most money?
👉Which strategy is the most profitable?
👉What leverage can I take on to maximize my earnings?
But these are the wrong questions to focus on. With luck, anyone can make money. But it takes more than a chance to make money without running the risk of ruin.
Take note of the next line:
"The risk of ruin is the probability of ruining your trading capital to the extent that you can no longer execute your trading plan. The key is to stay in the game long enough so that you can profit."
Emphasis should be placed on the need to preserve your trading capital.
"I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have"- Paul Tudor Jones
An obsession with risk and how much you can lose is the hallmark of professional traders and investors.
Joel Greenblatt applied a risk-based mindset to his position-sizing decisions which enabled him to set stop-losses logically
"My largest positions aren’t the ones I think I’m going to make the most money from. My largest positions are the ones where I don’t think I’m going to lose money"- Joel Greenblatt
An intuitive focus on profits creates a tendency to trade positions that are too large and risky, no wonder, A top Trader suggested cutting your positions by half. This advice might sound simplistic, but it highlights a real and common problem of overtrading. His exact words were;
'Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half'.- Bruce Kovner
What are your thoughts on counterintuitive tips 1-3 shared from the financial markets global Top Traders?
Feel free to respond in the comment Section.
If you missed tip 1& 2, click the tagged post below to go read
Making money is the goal of trading, so it makes sense for new traders to focus on making money from the markets.
They ask questions like these:
👉How can I make the most money?
👉Which strategy is the most profitable?
👉What leverage can I take on to maximize my earnings?
But these are the wrong questions to focus on. With luck, anyone can make money. But it takes more than a chance to make money without running the risk of ruin.
Take note of the next line:
"The risk of ruin is the probability of ruining your trading capital to the extent that you can no longer execute your trading plan. The key is to stay in the game long enough so that you can profit."
Emphasis should be placed on the need to preserve your trading capital.
"I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have"- Paul Tudor Jones
An obsession with risk and how much you can lose is the hallmark of professional traders and investors.
Joel Greenblatt applied a risk-based mindset to his position-sizing decisions which enabled him to set stop-losses logically
"My largest positions aren’t the ones I think I’m going to make the most money from. My largest positions are the ones where I don’t think I’m going to lose money"- Joel Greenblatt
An intuitive focus on profits creates a tendency to trade positions that are too large and risky, no wonder, A top Trader suggested cutting your positions by half. This advice might sound simplistic, but it highlights a real and common problem of overtrading. His exact words were;
'Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half'.- Bruce Kovner
What are your thoughts on counterintuitive tips 1-3 shared from the financial markets global Top Traders?
Feel free to respond in the comment Section.
If you missed tip 1& 2, click the tagged post below to go read
LIVEPompey Fintech Academy
--
Today we delve into the second counter intuitive tip from Top Traders that can change your trading style.
Like in #Tip1 I'll only share tip 2 and use the quotes from these professional traders to buttress main point
For Tip 1,you can check the quoted post
Tip #2: Trading is not about the market; it’s about you.
Analysts worry about the market. But traders go beyond. They think about what to do in response to the market.
"Don’t think about what the market is going to do; you have absolutely no control over that. Think about what you’re going to do if it gets there"- William Eckhardt
William Eckhardt was clearly referring to having a game plan for all possible scenarios. Your trading plan is about you - how you plan to respond to the market.
Note that it goes further than having a detailed technical trading strategy with entry and exit rules. This focus on you extends into your mind.
"Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself."- Martin Schwartz
We tend to focus on the market’s behavior as we try to figure out how to trade profitably.
But in fact, we should spend even more effort and time to figure out our emotions, instincts, and responses. This is why trading psychology is so important.
"There are only a few traders who have come to the realization that they alone are completely responsible for the outcome of their actions. Even fewer are those who have accepted the psychological implications of that realization and know what to do about it" - Mark Douglas
Once you understand your role as the trader, you will see the need to take full responsibility for your trading.
However, as Mark Douglas pointed out, it is a challenging thing to do.
To summarize: Every traders who seeks To be Successful must invest time into learning how to master the act of controlling his emotions and training his psychology
Like in #Tip1 I'll only share tip 2 and use the quotes from these professional traders to buttress main point
For Tip 1,you can check the quoted post
Tip #2: Trading is not about the market; it’s about you.
Analysts worry about the market. But traders go beyond. They think about what to do in response to the market.
"Don’t think about what the market is going to do; you have absolutely no control over that. Think about what you’re going to do if it gets there"- William Eckhardt
William Eckhardt was clearly referring to having a game plan for all possible scenarios. Your trading plan is about you - how you plan to respond to the market.
Note that it goes further than having a detailed technical trading strategy with entry and exit rules. This focus on you extends into your mind.
"Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself."- Martin Schwartz
We tend to focus on the market’s behavior as we try to figure out how to trade profitably.
But in fact, we should spend even more effort and time to figure out our emotions, instincts, and responses. This is why trading psychology is so important.
"There are only a few traders who have come to the realization that they alone are completely responsible for the outcome of their actions. Even fewer are those who have accepted the psychological implications of that realization and know what to do about it" - Mark Douglas
Once you understand your role as the trader, you will see the need to take full responsibility for your trading.
However, as Mark Douglas pointed out, it is a challenging thing to do.
To summarize: Every traders who seeks To be Successful must invest time into learning how to master the act of controlling his emotions and training his psychology
Today we delve into the second counter intuitive tip from Top Traders that can change your trading style.
Like in #Tip1 I'll only share tip 2 and use the quotes from these professional traders to buttress main point
For Tip 1,you can check the quoted post
Tip #2: Trading is not about the market; it’s about you.
Analysts worry about the market. But traders go beyond. They think about what to do in response to the market.
"Don’t think about what the market is going to do; you have absolutely no control over that. Think about what you’re going to do if it gets there"- William Eckhardt
William Eckhardt was clearly referring to having a game plan for all possible scenarios. Your trading plan is about you - how you plan to respond to the market.
Note that it goes further than having a detailed technical trading strategy with entry and exit rules. This focus on you extends into your mind.
"Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself."- Martin Schwartz
We tend to focus on the market’s behavior as we try to figure out how to trade profitably.
But in fact, we should spend even more effort and time to figure out our emotions, instincts, and responses. This is why trading psychology is so important.
"There are only a few traders who have come to the realization that they alone are completely responsible for the outcome of their actions. Even fewer are those who have accepted the psychological implications of that realization and know what to do about it" - Mark Douglas
Once you understand your role as the trader, you will see the need to take full responsibility for your trading.
However, as Mark Douglas pointed out, it is a challenging thing to do.
To summarize: Every traders who seeks To be Successful must invest time into learning how to master the act of controlling his emotions and training his psychology
Like in #Tip1 I'll only share tip 2 and use the quotes from these professional traders to buttress main point
For Tip 1,you can check the quoted post
Tip #2: Trading is not about the market; it’s about you.
Analysts worry about the market. But traders go beyond. They think about what to do in response to the market.
"Don’t think about what the market is going to do; you have absolutely no control over that. Think about what you’re going to do if it gets there"- William Eckhardt
William Eckhardt was clearly referring to having a game plan for all possible scenarios. Your trading plan is about you - how you plan to respond to the market.
Note that it goes further than having a detailed technical trading strategy with entry and exit rules. This focus on you extends into your mind.
"Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself."- Martin Schwartz
We tend to focus on the market’s behavior as we try to figure out how to trade profitably.
But in fact, we should spend even more effort and time to figure out our emotions, instincts, and responses. This is why trading psychology is so important.
"There are only a few traders who have come to the realization that they alone are completely responsible for the outcome of their actions. Even fewer are those who have accepted the psychological implications of that realization and know what to do about it" - Mark Douglas
Once you understand your role as the trader, you will see the need to take full responsibility for your trading.
However, as Mark Douglas pointed out, it is a challenging thing to do.
To summarize: Every traders who seeks To be Successful must invest time into learning how to master the act of controlling his emotions and training his psychology
LIVEPompey Fintech Academy
--
Bikajellegű
Is Trading difficult for you?
Have you thought about giving up?
If So, Today is your breakthrough. Here is what you should do next.
Quickly hit the follow button because I Will be sharing 7 Counter-Intuitive tips from the financial market Top Traders that will change your life and your trading style.
These tips will be shared in bits to help assimilate each tip. Each tip will carry quotes from these successful top traders and a guide to understand them.
Let's jump right into it.
Tip #1: Trading more or longer is not always the best.
At times, doing nothing might be the best thing you can do. A lot of people get so enmeshed in the markets that they lose their perspective.
"Working longer does not necessarily equate with working smarter. In fact, sometimes it is the other way around"-Martin Schwartz
Most jobs are designed around the clock. Spend X number of hours, and we pay you Y amount. This relationship between time spent and reward is so commonplace that we take it for granted in all things that we do.
Unfortunately, this does not hold true for traders who want to maximize their edge.
Why?
Martin Schwartz's thoughts undercover the need to work smarter and not longer.
The market is beyond your control. Of course, we can decide to spend more time trading, but if the conditions are not optimal, it will do more harm than good.
"The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages"- Jesse Livermore
Jesse Livermore points out the need to kill the “regular wages” mindset and respect the market’s underlying conditions.
Think about it. If the market is not offering you a trading edge, the best thing to do is STOP TRADING.
"If most traders would learn to sit on their hands 50% of the time, they would make a lot more money"-Bill Lipschutz
Bill Lipschutz’s key point is most traders trade far more than they should.
Paradoxically, SUCCESSFUL TRADERS KNOW WHEN NOT TO TRADE
Have you thought about giving up?
If So, Today is your breakthrough. Here is what you should do next.
Quickly hit the follow button because I Will be sharing 7 Counter-Intuitive tips from the financial market Top Traders that will change your life and your trading style.
These tips will be shared in bits to help assimilate each tip. Each tip will carry quotes from these successful top traders and a guide to understand them.
Let's jump right into it.
Tip #1: Trading more or longer is not always the best.
At times, doing nothing might be the best thing you can do. A lot of people get so enmeshed in the markets that they lose their perspective.
"Working longer does not necessarily equate with working smarter. In fact, sometimes it is the other way around"-Martin Schwartz
Most jobs are designed around the clock. Spend X number of hours, and we pay you Y amount. This relationship between time spent and reward is so commonplace that we take it for granted in all things that we do.
Unfortunately, this does not hold true for traders who want to maximize their edge.
Why?
Martin Schwartz's thoughts undercover the need to work smarter and not longer.
The market is beyond your control. Of course, we can decide to spend more time trading, but if the conditions are not optimal, it will do more harm than good.
"The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages"- Jesse Livermore
Jesse Livermore points out the need to kill the “regular wages” mindset and respect the market’s underlying conditions.
Think about it. If the market is not offering you a trading edge, the best thing to do is STOP TRADING.
"If most traders would learn to sit on their hands 50% of the time, they would make a lot more money"-Bill Lipschutz
Bill Lipschutz’s key point is most traders trade far more than they should.
Paradoxically, SUCCESSFUL TRADERS KNOW WHEN NOT TO TRADE
Is Trading difficult for you?
Have you thought about giving up?
If So, Today is your breakthrough. Here is what you should do next.
Quickly hit the follow button because I Will be sharing 7 Counter-Intuitive tips from the financial market Top Traders that will change your life and your trading style.
These tips will be shared in bits to help assimilate each tip. Each tip will carry quotes from these successful top traders and a guide to understand them.
Let's jump right into it.
Tip #1: Trading more or longer is not always the best.
At times, doing nothing might be the best thing you can do. A lot of people get so enmeshed in the markets that they lose their perspective.
"Working longer does not necessarily equate with working smarter. In fact, sometimes it is the other way around"-Martin Schwartz
Most jobs are designed around the clock. Spend X number of hours, and we pay you Y amount. This relationship between time spent and reward is so commonplace that we take it for granted in all things that we do.
Unfortunately, this does not hold true for traders who want to maximize their edge.
Why?
Martin Schwartz's thoughts undercover the need to work smarter and not longer.
The market is beyond your control. Of course, we can decide to spend more time trading, but if the conditions are not optimal, it will do more harm than good.
"The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages"- Jesse Livermore
Jesse Livermore points out the need to kill the “regular wages” mindset and respect the market’s underlying conditions.
Think about it. If the market is not offering you a trading edge, the best thing to do is STOP TRADING.
"If most traders would learn to sit on their hands 50% of the time, they would make a lot more money"-Bill Lipschutz
Bill Lipschutz’s key point is most traders trade far more than they should.
Paradoxically, SUCCESSFUL TRADERS KNOW WHEN NOT TO TRADE
Have you thought about giving up?
If So, Today is your breakthrough. Here is what you should do next.
Quickly hit the follow button because I Will be sharing 7 Counter-Intuitive tips from the financial market Top Traders that will change your life and your trading style.
These tips will be shared in bits to help assimilate each tip. Each tip will carry quotes from these successful top traders and a guide to understand them.
Let's jump right into it.
Tip #1: Trading more or longer is not always the best.
At times, doing nothing might be the best thing you can do. A lot of people get so enmeshed in the markets that they lose their perspective.
"Working longer does not necessarily equate with working smarter. In fact, sometimes it is the other way around"-Martin Schwartz
Most jobs are designed around the clock. Spend X number of hours, and we pay you Y amount. This relationship between time spent and reward is so commonplace that we take it for granted in all things that we do.
Unfortunately, this does not hold true for traders who want to maximize their edge.
Why?
Martin Schwartz's thoughts undercover the need to work smarter and not longer.
The market is beyond your control. Of course, we can decide to spend more time trading, but if the conditions are not optimal, it will do more harm than good.
"The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages"- Jesse Livermore
Jesse Livermore points out the need to kill the “regular wages” mindset and respect the market’s underlying conditions.
Think about it. If the market is not offering you a trading edge, the best thing to do is STOP TRADING.
"If most traders would learn to sit on their hands 50% of the time, they would make a lot more money"-Bill Lipschutz
Bill Lipschutz’s key point is most traders trade far more than they should.
Paradoxically, SUCCESSFUL TRADERS KNOW WHEN NOT TO TRADE
The Most Popular 3 CandleStick Patterns (Bullish & Bearish Scenario)
1: The Morning and Evening Star
These triple candlestick patterns indicate the current trend is going to end.
In the Morning star, the first candle is bearish, the second candle has a small body, and the third candlestick shows a reversal in trend while in the Evening star pattern, the first candle is bullish, the second candle has a small body, and the third candlestick shows a reversal in trend as highlighted in the Image.
2: The Three White Soldiers and Black Crows
The White Soldiers candlestick pattern takes place when three long, bullish candles develop. It usually happens following a downtrend, meaning that a reversal pattern is ongoing. This is a potent pattern, which usually takes place after a long downtrend and a period of consolidation. The second candle needs to be larger than the body of the previous candle. The last candlestick should be the same size or larger than the second candle.
The Bearish three black crows pattern is the opposite of the white soldiers triple candlestick. It's noticed when there is three bearish candles at the end of a long uptrend indicating that a reversal is likely to follow. The second candle body needs to be bigger than the first candle body. The third candle should be the same size or larger than the second candle.
3: The Three Inside Up and Inside Down
the three inside-up triple candlestick pattern is seen at the end of a down trend to confirm a trend reversal is ongoing. A long bearish candlestick at the bottom of a downtrend followed by a second candle that reaches the midpoint of the first candle. Finally, the third candlestick needs to close above the high of the first candle.
The three inside down triple candlestick pattern follows an uptrend and indicates a reversal is likely to come next. A long bullish candlestick at the start of the pattern. Then, the second candle needs to reach the midpoint of the first candle. Finally, the third candle needs to close below the low point of the first candle indicating a reversal is going to happen next.
1: The Morning and Evening Star
These triple candlestick patterns indicate the current trend is going to end.
In the Morning star, the first candle is bearish, the second candle has a small body, and the third candlestick shows a reversal in trend while in the Evening star pattern, the first candle is bullish, the second candle has a small body, and the third candlestick shows a reversal in trend as highlighted in the Image.
2: The Three White Soldiers and Black Crows
The White Soldiers candlestick pattern takes place when three long, bullish candles develop. It usually happens following a downtrend, meaning that a reversal pattern is ongoing. This is a potent pattern, which usually takes place after a long downtrend and a period of consolidation. The second candle needs to be larger than the body of the previous candle. The last candlestick should be the same size or larger than the second candle.
The Bearish three black crows pattern is the opposite of the white soldiers triple candlestick. It's noticed when there is three bearish candles at the end of a long uptrend indicating that a reversal is likely to follow. The second candle body needs to be bigger than the first candle body. The third candle should be the same size or larger than the second candle.
3: The Three Inside Up and Inside Down
the three inside-up triple candlestick pattern is seen at the end of a down trend to confirm a trend reversal is ongoing. A long bearish candlestick at the bottom of a downtrend followed by a second candle that reaches the midpoint of the first candle. Finally, the third candlestick needs to close above the high of the first candle.
The three inside down triple candlestick pattern follows an uptrend and indicates a reversal is likely to come next. A long bullish candlestick at the start of the pattern. Then, the second candle needs to reach the midpoint of the first candle. Finally, the third candle needs to close below the low point of the first candle indicating a reversal is going to happen next.
3 CandleStick Formation Patterns
1: The Morning and Evening Star
This triple candlestick pattern indicates the current trend is going to end. With the evening star pattern, the first candle is bullish, the second candle has a small body, and the third candlestick shows a reversal in trend. It's an easy triple candlestick pattern to spot quickly showing the trend is reversing.
2: The Three White Soldiers and Black Crows
This triple candle stick pattern takes place when three long, bullish candles develop. It usually happens following a downtrend, meaning that a reversal pattern is taking place.
This is a potent pattern, which usually takes place after a long downtrend and a period of consolidation. The second candle needs to be larger than the body of the previous candle. The last candlestick should be the same size or larger than the second candle.
Kindly note that The three black crows pattern is the opposite of the white soldiers' triple candlestick.
This takes place when you notice three bearish candles at the end of a long uptrend. This also indicates that a reversal is likely to happen next. The second candle body needs to be bigger than the first candle body. The third candle should be the same size or larger than the second candle.
3: The Three Inside Up and Inside Down
The three inside-up triple candlestick pattern is usually at the end of a downtrend. This indicates an ongoing trend reversal. You should look for a long bearish candlestick at the bottom of a downtrend followed by a second candle that reaches the midpoint of the first candle. Finally, the third candlestick needs to close above the high of the first candle. This confirms the reversal
Note:The three inside down triple candlestick pattern takes place following an uptrend and is an indication that a reversal is likely to come next. You should notice a long bullish candlestick at the start of the pattern. Then, the second candle needs to reach the midpoint of the first candle. Finally, the third candle needs to close below the low point of the first candle. This confirms a reversal
1: The Morning and Evening Star
This triple candlestick pattern indicates the current trend is going to end. With the evening star pattern, the first candle is bullish, the second candle has a small body, and the third candlestick shows a reversal in trend. It's an easy triple candlestick pattern to spot quickly showing the trend is reversing.
2: The Three White Soldiers and Black Crows
This triple candle stick pattern takes place when three long, bullish candles develop. It usually happens following a downtrend, meaning that a reversal pattern is taking place.
This is a potent pattern, which usually takes place after a long downtrend and a period of consolidation. The second candle needs to be larger than the body of the previous candle. The last candlestick should be the same size or larger than the second candle.
Kindly note that The three black crows pattern is the opposite of the white soldiers' triple candlestick.
This takes place when you notice three bearish candles at the end of a long uptrend. This also indicates that a reversal is likely to happen next. The second candle body needs to be bigger than the first candle body. The third candle should be the same size or larger than the second candle.
3: The Three Inside Up and Inside Down
The three inside-up triple candlestick pattern is usually at the end of a downtrend. This indicates an ongoing trend reversal. You should look for a long bearish candlestick at the bottom of a downtrend followed by a second candle that reaches the midpoint of the first candle. Finally, the third candlestick needs to close above the high of the first candle. This confirms the reversal
Note:The three inside down triple candlestick pattern takes place following an uptrend and is an indication that a reversal is likely to come next. You should notice a long bullish candlestick at the start of the pattern. Then, the second candle needs to reach the midpoint of the first candle. Finally, the third candle needs to close below the low point of the first candle. This confirms a reversal
Hey Friend,
What comes to your mind when you hear about Candle stick patterns?
Is it a set of tradable crypto chart pattern or probably a Candle stick used to light a romantic dinner?😄
If you picked the first Option you are absolutely right
Candle Stick patterns are cryptographic chart patterns that sometimes perfectly identify where the price will go next.
Let's take a look at one example:
Triple candlestick patterns are helpful because they sometimes show how the price is going to behave next.
Triple candlestick patterns are mostly reversal patterns or continuation patterns that show traders when a new trend will develop next.
Starting from my next post, I will be sharing 3 examples of Triple Candle Patterns beginning with the famous Morning and Evening Star
Make sure you're following me as I will X-ray them one by one
What comes to your mind when you hear about Candle stick patterns?
Is it a set of tradable crypto chart pattern or probably a Candle stick used to light a romantic dinner?😄
If you picked the first Option you are absolutely right
Candle Stick patterns are cryptographic chart patterns that sometimes perfectly identify where the price will go next.
Let's take a look at one example:
Triple candlestick patterns are helpful because they sometimes show how the price is going to behave next.
Triple candlestick patterns are mostly reversal patterns or continuation patterns that show traders when a new trend will develop next.
Starting from my next post, I will be sharing 3 examples of Triple Candle Patterns beginning with the famous Morning and Evening Star
Make sure you're following me as I will X-ray them one by one
LIVEPompey Fintech Academy
--
This is not the time to cry BTC is going to 12k
It is the time to ladder into a Big LONG position in #Binance Spot or with very low leverage in #Binance futures IMO.
In the quoted post I made this Morning, I got some responses that insinuated that I was misleading newbies because they were bullish and didn't see the obvious my chart showed.
$BTC dump was due and inevitable
30k was rejected severally, and no support was strong enough to propel us past that resistance, we were losing key levels, it was only a matter of time before we fell off the cliff
Look @ your BTC chart!
Did$BTC come to my POI & below.
Ofcourse I can't be 💯 accurate, but we are in the range of a relief, retest and then highs from here...
Long term $BNB & good low caps are good to bag at the discounts offered by the market.
Just another random thought...
It is the time to ladder into a Big LONG position in #Binance Spot or with very low leverage in #Binance futures IMO.
In the quoted post I made this Morning, I got some responses that insinuated that I was misleading newbies because they were bullish and didn't see the obvious my chart showed.
$BTC dump was due and inevitable
30k was rejected severally, and no support was strong enough to propel us past that resistance, we were losing key levels, it was only a matter of time before we fell off the cliff
Look @ your BTC chart!
Did$BTC come to my POI & below.
Ofcourse I can't be 💯 accurate, but we are in the range of a relief, retest and then highs from here...
Long term $BNB & good low caps are good to bag at the discounts offered by the market.
Just another random thought...
Attention Check out one of the Best Futures Trading Strategy
In this article, I will show you one of the best Trading Strategy for Futures Traders.
Note that this strategy is A case study of building $10 margin into $1000+.
What is the Fixed Percentage Profit Compounding Strategy?
This strategy is a conservative trading strategy built on the mindset that profit no matter how small must be taken out of each single trade to be profitable...
It also guides against excess loss owing to the deception that the market always comes back upwards.
Take for example, a trader goes into a trade and is in huge profits, the challenge of when to take profit is real and only a person that isn't greedy will be satisfied with his current profits and close the trade or set risk mitigation preferences to cut losses and take gain off that trade.
Most times, we hear of traders who were in huge profits and left the trade to run, only to come back to huge losses sometimes, liquidations😟. How sad!
What went wrong in that trade?
There was no premeditated action, or at least greed didn't allow the trader to execute it to show gratitude to the market for the profit given.🤪
So the Fixed Profit Strategy is a risk management technique and a Greed Killer.
So to use this strategy, all traders must plan their setups and use leverages that allow their set SL to fall within less than or equal to the fixed profit/loss percentage.(in this case, SL ≤ -25%
As a case study, I will be sharing this guide with 25% as my preferred fixed percentage as experience shows great success with it. Feel free to use any percentage that works best for you.
Kindly Note that even if you take out 25% profit from a trade, you do not necessarily have to close the trade as you can let the trade keep running into profits while you move SL or set BE.
Whatever extra profit gathered from the trade can be set aside as Returns to offset losses as there will be days when you hit -25% instead of +25%🙄.
"Take Away"
So to reiterate, note that you can achieve more than 25% profit per trade, but must lock 25%.
Any extra profit can be used for trading fees and to cater for the bad trading days when you will have losses or you can cash out the extra and go touch grass with it or gift yourself as a trader who works hard to win a trade 💌
What leverage should I Use?
Personally I use low leverage from from 3 to 10x for pairs for altcoin pairs and 20x only for BTC and this ranges as I examine the market conditions and use Price actions as my guide to select a suitable leverage per trade.
It's gonna be a long ride, but am confident that we will make it.*WAGMI*
For all who are interested, kindly indicate your interest with emoji and follow me as I will be giving more details about how to create an excel template to help you check and track your profitability on a daily basis.
This strategy was tested by some traders who had a "project $10 - 1000+ with no pressure challenge"
Let me state too that
The 25% fixed profit strategy is pure mathematical and has nothing to do with Psychology.
I have mentioned it several times before that first - "Crypto is only for Intelligent people and if you are not ready to improve, you will always loose to the market"
You need to train your Psychology to understand that Trading Futures is high risks and you will always loose from time to time, be it your mistakes, the unsure market or even manipulation and if it affects your will to go on, then maybe trading isn't for you.
But if you train your Psychology to handle losses, U probably can pause and concentrate on getting your morale, '"crossing the t and dotting the I of each trade'"
An excel template which screenshots have been attached to this article show some very helpful tips and one of them is don't pressure yourself or think of it as a challenge you must win within a given time frame. You are your own challenge.
You can create an excel template programmed to help calculate automatedly and shows the expected margin per trade and your stop loss per trade in this strategy must be within and not beyond 25% in Loss, meaning your trade must hit SL at -25% no matter the set leverage used.(Discipline remember, so use a leverage that pushes your SL to -25% loss)
👉This strategy basically helps u limit your exposure to positions beyond 25% profit.
For instance, some of us here have been in trades of 100% or more and yet came out with less than 10% profit waiting for 500%.🙆♀️
👉This strategy guides against that.
👉It teaches you how to steal ur 25% PNL and go away or stay on with BE or a trailing SL.
👉It also inculcates that profitability in the market is LONG term.
One of the tips there in the attached images shows that you can stay on any level until u build ur morale to go to the next one
For instance I can get to level 7 and decide not to move to level 8, and start again from level 1 either with one trade with starting margin ($10) or multiple trades with the starting margin per each trade and grow them separately up to level 8 again before deciding to go to level 8 where you'll trade with a higher margin.
Bottom line is you will learn how to trade based on making a 25% profit which is easily attainable in the crypto space.
I for one believe crypto should be traded long-term and have my BNB token reserved for years or months locked away in Binance Vault, so I am not moved my emotions to sell at lows and regret when am supposed to be enjoying the fruitage of my labour.($BNB @ $10,000)🥳
But then trying a new strategy doesn't hurt anyone💯
Note that this strategy is A case study of building $10 margin into $1000+.
What is the Fixed Percentage Profit Compounding Strategy?
This strategy is a conservative trading strategy built on the mindset that profit no matter how small must be taken out of each single trade to be profitable...
It also guides against excess loss owing to the deception that the market always comes back upwards.
Take for example, a trader goes into a trade and is in huge profits, the challenge of when to take profit is real and only a person that isn't greedy will be satisfied with his current profits and close the trade or set risk mitigation preferences to cut losses and take gain off that trade.
Most times, we hear of traders who were in huge profits and left the trade to run, only to come back to huge losses sometimes, liquidations😟. How sad!
What went wrong in that trade?
There was no premeditated action, or at least greed didn't allow the trader to execute it to show gratitude to the market for the profit given.🤪
So the Fixed Profit Strategy is a risk management technique and a Greed Killer.
So to use this strategy, all traders must plan their setups and use leverages that allow their set SL to fall within less than or equal to the fixed profit/loss percentage.(in this case, SL ≤ -25%
As a case study, I will be sharing this guide with 25% as my preferred fixed percentage as experience shows great success with it. Feel free to use any percentage that works best for you.
Kindly Note that even if you take out 25% profit from a trade, you do not necessarily have to close the trade as you can let the trade keep running into profits while you move SL or set BE.
Whatever extra profit gathered from the trade can be set aside as Returns to offset losses as there will be days when you hit -25% instead of +25%🙄.
"Take Away"
So to reiterate, note that you can achieve more than 25% profit per trade, but must lock 25%.
Any extra profit can be used for trading fees and to cater for the bad trading days when you will have losses or you can cash out the extra and go touch grass with it or gift yourself as a trader who works hard to win a trade 💌
What leverage should I Use?
Personally I use low leverage from from 3 to 10x for pairs for altcoin pairs and 20x only for BTC and this ranges as I examine the market conditions and use Price actions as my guide to select a suitable leverage per trade.
It's gonna be a long ride, but am confident that we will make it.*WAGMI*
For all who are interested, kindly indicate your interest with emoji and follow me as I will be giving more details about how to create an excel template to help you check and track your profitability on a daily basis.
This strategy was tested by some traders who had a "project $10 - 1000+ with no pressure challenge"
Let me state too that
The 25% fixed profit strategy is pure mathematical and has nothing to do with Psychology.
I have mentioned it several times before that first - "Crypto is only for Intelligent people and if you are not ready to improve, you will always loose to the market"
You need to train your Psychology to understand that Trading Futures is high risks and you will always loose from time to time, be it your mistakes, the unsure market or even manipulation and if it affects your will to go on, then maybe trading isn't for you.
But if you train your Psychology to handle losses, U probably can pause and concentrate on getting your morale, '"crossing the t and dotting the I of each trade'"
An excel template which screenshots have been attached to this article show some very helpful tips and one of them is don't pressure yourself or think of it as a challenge you must win within a given time frame. You are your own challenge.
You can create an excel template programmed to help calculate automatedly and shows the expected margin per trade and your stop loss per trade in this strategy must be within and not beyond 25% in Loss, meaning your trade must hit SL at -25% no matter the set leverage used.(Discipline remember, so use a leverage that pushes your SL to -25% loss)
👉This strategy basically helps u limit your exposure to positions beyond 25% profit.
For instance, some of us here have been in trades of 100% or more and yet came out with less than 10% profit waiting for 500%.🙆♀️
👉This strategy guides against that.
👉It teaches you how to steal ur 25% PNL and go away or stay on with BE or a trailing SL.
👉It also inculcates that profitability in the market is LONG term.
One of the tips there in the attached images shows that you can stay on any level until u build ur morale to go to the next one
For instance I can get to level 7 and decide not to move to level 8, and start again from level 1 either with one trade with starting margin ($10) or multiple trades with the starting margin per each trade and grow them separately up to level 8 again before deciding to go to level 8 where you'll trade with a higher margin.
Bottom line is you will learn how to trade based on making a 25% profit which is easily attainable in the crypto space.
I for one believe crypto should be traded long-term and have my BNB token reserved for years or months locked away in Binance Vault, so I am not moved my emotions to sell at lows and regret when am supposed to be enjoying the fruitage of my labour.($BNB @ $10,000)🥳
But then trying a new strategy doesn't hurt anyone💯
🥳Congratulations to all those who started laddering into long positions
We are up over 2% from my call & on #Binance futures
10x =20%
25x = 50%
50x = 100%
$BTC will pump up a bit, there is a need to be CONSERVATIVE
Pay attention to the chart -my bias of what the market will do
Notice that I expect BTC to pump and retest 24,800 before going upwards
It will get rejected from the upward trending support line now RESISTANCE.
We will get supported &pump backwards from the new support zone
Note that this chart is a weekly chart and it will take weeks but ultimately play out to near perfection like my last two calls.
I am preparing a new futures trading strategy, backtested and working perfectly...
My students are using it already and booking profits off the market.
Make sure you are following me to see when I drop it
#bitcoin
We are up over 2% from my call & on #Binance futures
10x =20%
25x = 50%
50x = 100%
$BTC will pump up a bit, there is a need to be CONSERVATIVE
Pay attention to the chart -my bias of what the market will do
Notice that I expect BTC to pump and retest 24,800 before going upwards
It will get rejected from the upward trending support line now RESISTANCE.
We will get supported &pump backwards from the new support zone
Note that this chart is a weekly chart and it will take weeks but ultimately play out to near perfection like my last two calls.
I am preparing a new futures trading strategy, backtested and working perfectly...
My students are using it already and booking profits off the market.
Make sure you are following me to see when I drop it
#bitcoin
LIVEPompey Fintech Academy
--
This is not the time to cry BTC is going to 12k
It is the time to ladder into a Big LONG position in #Binance Spot or with very low leverage in #Binance futures IMO.
In the quoted post I made this Morning, I got some responses that insinuated that I was misleading newbies because they were bullish and didn't see the obvious my chart showed.
$BTC dump was due and inevitable
30k was rejected severally, and no support was strong enough to propel us past that resistance, we were losing key levels, it was only a matter of time before we fell off the cliff
Look @ your BTC chart!
Did$BTC come to my POI & below.
Ofcourse I can't be 💯 accurate, but we are in the range of a relief, retest and then highs from here...
Long term $BNB & good low caps are good to bag at the discounts offered by the market.
Just another random thought...
It is the time to ladder into a Big LONG position in #Binance Spot or with very low leverage in #Binance futures IMO.
In the quoted post I made this Morning, I got some responses that insinuated that I was misleading newbies because they were bullish and didn't see the obvious my chart showed.
$BTC dump was due and inevitable
30k was rejected severally, and no support was strong enough to propel us past that resistance, we were losing key levels, it was only a matter of time before we fell off the cliff
Look @ your BTC chart!
Did$BTC come to my POI & below.
Ofcourse I can't be 💯 accurate, but we are in the range of a relief, retest and then highs from here...
Long term $BNB & good low caps are good to bag at the discounts offered by the market.
Just another random thought...