THE MOST COMMON TYPE OF TRADER:

1. Scalping Trader: Scalping is an ultra-short-term trading strategy where traders aim to profit from small price movements.

2. Day trader: Day trading involves buying and selling assets within the same trading day.

3. Swing trading:Unlike day trading, swing traders might hold positions overnight or for several days, aiming to profit from the swings in prices.

4. Position trader: Position trading focuses on long-term trends and can span weeks, months, or even years.

BETTER KNOW WHO YOU ARE AND LEARN.

JPMorgan says the odds of a US recession by the end of the year are now at 35%.

Instead of spending your time trying to perfect your trading skills, focus on the one skill that you are weakest at and work on it day and night. If you are an impatient trader and most losses are coming from your impatience, learn new skills that will help you improve your patience. For example, take a meditation course or read Osho. If taking profits is what prevents you from being profitable, then start working on hard targets and have strict rules written down that will help you lock them in. If you are scared to take a trade, then reduce your trading size to the minimum possible. And remember one thing along the way: “If it were easy, a lot more traders would have been successful.”

There is a thin line between a myth and reality. In trading there is a thin line between a great trader and an average trader. My experience and work with others have taught me that the quiet trader has a lot more to offer to the trading world than the noisy, boisterous type of market player. This of course is an overgeneralization, but in every great trader I have known there is a degree of humility, which is lacking in 99.9% of all wannabe get-rich quick traders.

Just like the myth about the discovery of quinine, I have heard so many myths about trading and one thing they all have in common is the lack of transparency when it comes to losing. Both successful and unsuccessful trading is a combination of losing and winning and a successful trader knows better than anyone else that the losing bit is where most efforts are concentrated. The real question that you should ask yourself is why there are so few talks about losing? Isn’t that the real weakness of the strong?

$BTC Update..!

Yesterday, Bitcoin was deeply down -15.74% affected by the global economy. (Over $1.41 trillion was wiped out from the US stock market yesterday.)

This is because of repeatedly bad news about the U.S. economy that made fear sell before the market crashed.

Bitcoin was rejected at the demand zone at 50K-51K and will be up to fill the sell order at 57K before it drops deeply to the 40K demand zone.

In this situation, we should keep monitoring and confirm the our setup is valid or not first because the market is so Volatility. $1,200,000,000 liquidated from the cryptocurrency market in the past 24 hours.

I HOPE YOU HAVE A GOOD TRADING WEEK AND A FULL PROFIT.

BREAKING: Bitcoin falls under $50,000

Deep bearish came as predicted.

JUST IN: $1,000,000,000 liquidated from the cryptocurrency market in the past 24 hours.

Today, I want to talk about global finance which also affects cryptocurrency.

"Markets seem to be treating bad news as bad news again, not a positive catalyst given an easy Fed outlook," Citi's head of US equity strategy, Scott Chronert, wrote in a note to clients on Friday.

"Investors are even starting to ask recession-related questions and have started to review their economic slowdown playbooks."

Friday's employment report, which showed the second-weakest monthly job additions since 2020 and the highest unemployment rate in nearly three years, accelerated the action.

Over $879 billion was wiped out from the US stock market today.

WE MAY SEE THE BIG BEARISH TREND COMING SOON.

IF YOU CANNOT DECIDED, LONG OR SHORT.
THE ANSWER IS NO..!

$BTC Update price..! 🚀

Soon we'll have BTC price at 71K after it breaks the supply zone at 66K.

There is a time to buy, a time to sell and a long time to wait.

Yes, that's trading

WHY BACKTEST STRATEGY ARE VERY IMPORTANT FOR TRADER?

Backtesting is a manual or systematic method of determining whether a trading strategy or trading setup has been profitable in the past.
A trader should backtest a strategy to help determine if a trading strategy is likely a waste of time and money, or if it shows promise and profitability in a variety of markets.
While you can get software that does systematic backtesting… we prefer manual backtesting as it can be carried out by any type of trader,
It is a key component in developing an effective trading strategy. There are infinite possibilities for strategies, and any slight alteration will change the results. This is why backtesting is important, as it shows whether certain parameters will work better than others.

HOW TO BACKTEST:


 1) You need data to use in testing… if you are testing short-term strategies on small timeframes then use at least a few weeks of trading data.

If you are using higher timeframes, you should use years of trading data.


2) Define the strategy parameters—entry conditions, exit conditions, etc.
3) Analyse price charts for entry and exit signals.
4) Once you have completed this process, you can start to total all the trade results to see how profitable or unprofitable your trading strategy/setup has been over time.

THE TWO TYPES OF INDICATOR IN TRADING:

1. Leading indicators are considered to point toward future events. Example: RSI (Related Strength Index)

2. Lagging indicators are seen as confirming a pattern that is in progress. Example: SMA (Simple Moving Average).

This set up is invalid now.

This bullish trend is still continue

$BTC Swing trading update..! 🧧

BTC competed for 5 impulse waves in the uptrend.
The bearish RSI divergence is a powerful trend change signal from bullish to bearish.

Now bitcoin may drop some prices to 52K.

DO YOUR OWN RESEARCH BEFORE TRADING OR INVESTING.

Trading is all about probability; hence, we should not use a fixed level of profit-taking. The art of defining a profit target depends on each market environment as well as the trader’s trading style, which I will discuss later in this chapter. But first, let me give you a little trick that you can apply in many cases.

The key to success in trading is patience and patience.

On some trading days, you may have a couple of good or even very good setups and successful trades.

On other days, you might wait for a set up the whole day, but the market gives you nothing. It is advisable not to enter any trade during these times. Just wait for a good trade setup to appear before taking action.

Here’s a quick review of the rules to safely scale in and out of trades:

1. Always use stops.
2. Only add to losing positions if the risk of your COMBINED positions is within your risk comfort level
3. If you add to winning positions, always trail your stop to control the added risk a bigger position size brings.
4. Calculate the correct position sizes and where you will add to/remove from your position BEFORE you enter the trade.
5. Scaling into winning trades is best applied to trending markets.
6. Scaling out works well in range-bound markets.

BEFORE ENTRY THE POSITION:

Think that the money that we trade can 100% lost, try not to FEAR or Lost Control the EMOTIONAL. If you lost control step back, take a rest until your mind is CLEAR and Peaceful.

Rules to safely add to winning positions:

1. Pre-determine levels entry for additional units.
2. Calculate your risk with the additional units added.
3. Trail stop loss to keep growing position within comfortable risk parameters.

👍