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The Idea of Being Perfection in Trading â ïž
The Idea of Perfection in Trading Does Not Exist
In the world of trading, there is no such thing as perfection. No matter how good you are, there will always be times when you make mistakes and lose money. This is simply the nature of the market.
If you are a perfectionist, you may be tempted to try to avoid losses at all costs. However, this is a recipe for disaster. In order to be successful in trading, you need to be willing to take risks and accept that you will make mistakes.
Instead of striving for perfection, you should focus on developing a trading strategy that works for you and that you can stick to. This means having a clear understanding of your risk tolerance and your trading goals. It also means being disciplined and following your trading plan, even when things are not going your way.
Of course, there are some things you can do to minimize your losses and increase your chances of success. For example, you can use stop-losses to limit your losses on losing trades. You can also learn about risk management and how to protect your capital.
However, no matter what you do, there will always be times when you lose money. This is why it is important to have a realistic attitude about trading and to accept that perfection is not possible.
If you can learn to accept your losses and to learn from them, you will be well on your way to becoming a successful trader.
Keep Following #AmanXBT for more such Content đȘ©
#tradingstrategy #tradingtipoftheday
#BinanceTournament
In the world of trading, there is no such thing as perfection. No matter how good you are, there will always be times when you make mistakes and lose money. This is simply the nature of the market.
If you are a perfectionist, you may be tempted to try to avoid losses at all costs. However, this is a recipe for disaster. In order to be successful in trading, you need to be willing to take risks and accept that you will make mistakes.
Instead of striving for perfection, you should focus on developing a trading strategy that works for you and that you can stick to. This means having a clear understanding of your risk tolerance and your trading goals. It also means being disciplined and following your trading plan, even when things are not going your way.
Of course, there are some things you can do to minimize your losses and increase your chances of success. For example, you can use stop-losses to limit your losses on losing trades. You can also learn about risk management and how to protect your capital.
However, no matter what you do, there will always be times when you lose money. This is why it is important to have a realistic attitude about trading and to accept that perfection is not possible.
If you can learn to accept your losses and to learn from them, you will be well on your way to becoming a successful trader.
Keep Following #AmanXBT for more such Content đȘ©
#tradingstrategy #tradingtipoftheday
#BinanceTournament
100% Guaranteed, Profitable Guide ( Learn where to buy and sell )
đą Do you know when is the right time to buy ? As a beginner, almost 90% of traders make mistakes in buying random price levels blindly. đ€ When, where and why should you buy and sell, there are some important key levels in the chart which you have to identify and act accordingly. đ«Ą Have you heard the popular investor saying: âthe trend is your friend?â Well itâs true, actually the trend is your best friend.â ïž Let's dive into itđI hope everyone is familiar with the trading view. (It is a charting tool we use to mark up on charts) Use it for price action and technical analysis.1/ What is Trend Analysis?Trend analysis is a way to identify the direction of the market, and it is a study of price action to analyse the trend change or reversal. By spotting trend reversal early, we can ride the wave and make well decisions.2/ Identifying Uptrends & DowntrendsIn an uptrend is made up of rising levels and peaks with formation of higher highs and higher lows. Whereas, a downtrend is made up of decline in price level with formation of lower highs and lower lows.3/ Sideways (Consolidation) TrendA sideways trend (consolidation) is when prices move sideways in a horizontal range. In this trend we play range trading level to level. (I'll drop a proper guide on this in the upcoming articles) 4/ Using Trend LinesBasic and most used tools are trend lines, Everyone uses trend lines for precise analysis of market and price. For marking charts with support, resistance and any other patterns.5/ Chart Patterns Chart patterns are the art of reading the language of price movements on a chart.To make trading decisions, traders combine these insights with other forms of technical analysis, such as technical indicators or candlestick patterns.1. Price Channels Pattern2. Ascending Triangle & Descending Triangle 3. Head & Shoulders 4. Triple & Double Top & Bottom 5. Rising Wedge & Falling Wedge Learn this, and let me know in comments if you want more examples đ«Ąâ ïž Note : Patterns doesn't work 100% of the time, we need higher time frame confluence with this, also we have to know our daily bias â ïž đŻ Will learn new things in upcoming articles, till then Keep Following me đ#priceaction #AmanXBT
Are you Liquidated Again? This Stop Loss Class is For You
In this Article we will learn, where to use stop loss with chart examples, Lets discuss some definition first đ
đŁ Stop Loss: The Most Important Tool for Trading
Stop loss is an order that automatically sells a coin, when its price reaches a certain level, known as the stop price. It is used to limit losses in case the Coin price goes down.
Why is stop loss so important?
It helps you to control your losses.
It prevents you from making emotional decisions when the market is moving against you.
It can help you to stay disciplined and stick to your trading plan.
đŁ The 2 Essential Tools for Trading
There are only two essential tools for trading:
Risk management
Stop loss
Risk management is the process of maintaining your position and controlling your risk. This includes setting stop losses, your risk tolerance, and using other techniques to manage your risk.
đŁ I will create another article on risk Management, We are here to learn today about Stop Loss, So, Let's dive into it.
If you neglect these two tools, you are setting yourself up for failure. So make sure you understand them and use them in your trading.
đŁ Check the chart and read below, where to put stop loss.
Enter trades at specific points. Use technical analysis to find clear support or resistance levels to enter trades.
Place stop losses. Set stop losses at the invalidation point of your trade setup. This will protect your capital from significant losses.
Protect your capital. Placing stop losses is essential for protecting your trading capital.
đŁ Stop loss depends on the chart and TA
Don't set a fixed stop loss. It should be based on TA. Every trading setup is unique.
đŁ Stop loss = invalidation level
Your entry should be based on TA. When TA is no longer valid, exit the trade. The invalidation level is the point at which TA is no longer valid.
Entry Example:
Invalidation Point Reached? GET OUT!
đ» Stop Loss is a tool to be used immediately when your setup reaches the invalidation point. You must know, this level before entering a trade. The moment the invalidation event becomes true, exit without hesitation. đ»
(I will suggest you to read it again if you have any doubts, let me know in comments)
đŁ Conclusion
Stop loss cannot be a fixed percentage as all trade setups are different.
Stop Loss is nothing but an exit at an invalidation level. Reason for entry no longer valid = Stop Loss.
Use ONLY TA to find stop loss. Stop Loss = Invalidation level.
Always have the Stop Loss determined before entering a trade.
You don't have to post the SL order, you can exit manually on invalidation to avoid false wicks aka Stop hunting.
About Stops Hunting and wicks, i will make another short post
To succeed in trading, it's important to learn how to use Stop Loss effectively. Without good risk management and a smart Stop Loss plan, you'll face big losses in your trading journey.
In the end i want nothing, just like, share and comment
Only if you learn something #AmanXBT
This article took 4-5 hours of hard work, i want you guys feel it worthy, Thank me later follow me now.
đŁ Stop Loss: The Most Important Tool for Trading
Stop loss is an order that automatically sells a coin, when its price reaches a certain level, known as the stop price. It is used to limit losses in case the Coin price goes down.
Why is stop loss so important?
It helps you to control your losses.
It prevents you from making emotional decisions when the market is moving against you.
It can help you to stay disciplined and stick to your trading plan.
đŁ The 2 Essential Tools for Trading
There are only two essential tools for trading:
Risk management
Stop loss
Risk management is the process of maintaining your position and controlling your risk. This includes setting stop losses, your risk tolerance, and using other techniques to manage your risk.
đŁ I will create another article on risk Management, We are here to learn today about Stop Loss, So, Let's dive into it.
If you neglect these two tools, you are setting yourself up for failure. So make sure you understand them and use them in your trading.
đŁ Check the chart and read below, where to put stop loss.
Enter trades at specific points. Use technical analysis to find clear support or resistance levels to enter trades.
Place stop losses. Set stop losses at the invalidation point of your trade setup. This will protect your capital from significant losses.
Protect your capital. Placing stop losses is essential for protecting your trading capital.
đŁ Stop loss depends on the chart and TA
Don't set a fixed stop loss. It should be based on TA. Every trading setup is unique.
đŁ Stop loss = invalidation level
Your entry should be based on TA. When TA is no longer valid, exit the trade. The invalidation level is the point at which TA is no longer valid.
Entry Example:
Invalidation Point Reached? GET OUT!
đ» Stop Loss is a tool to be used immediately when your setup reaches the invalidation point. You must know, this level before entering a trade. The moment the invalidation event becomes true, exit without hesitation. đ»
(I will suggest you to read it again if you have any doubts, let me know in comments)
đŁ Conclusion
Stop loss cannot be a fixed percentage as all trade setups are different.
Stop Loss is nothing but an exit at an invalidation level. Reason for entry no longer valid = Stop Loss.
Use ONLY TA to find stop loss. Stop Loss = Invalidation level.
Always have the Stop Loss determined before entering a trade.
You don't have to post the SL order, you can exit manually on invalidation to avoid false wicks aka Stop hunting.
About Stops Hunting and wicks, i will make another short post
To succeed in trading, it's important to learn how to use Stop Loss effectively. Without good risk management and a smart Stop Loss plan, you'll face big losses in your trading journey.
In the end i want nothing, just like, share and comment
Only if you learn something #AmanXBT
This article took 4-5 hours of hard work, i want you guys feel it worthy, Thank me later follow me now.
đ You guys don't know my motive, i want from you to start learning about trading because if you don't learn and only just follow signals you'll end up losing money. Let's see what to do đ
đ Approx 3 years for me trading the crypto market, these are the most important skills that you need to become profitable:
Many people don't even know how to follow trade signals/calls đ„Č
Let me teach you my friends, Really it hits me hard when some people comments on my post that they lost money.đ„Ž
1. Patience - Trading is 80% waiting and 20% execution. Understand that the market will not always give you the set up you want and that it takes time until it finally gives you the signal to enter a trade. Mastering the art of patience will save you from low quality trades.đ
2. Risk Management - Even if you follow the best traders in the planet and use their signals as a way to trade, you'd still end up loosing money because you risk more than you win. Study how to manage your risk so every loss is not equal to every win. ( In simple terms risk less bro, risk per trade should be less than 3% of your capital ) â ïž
3. Understanding Market Structure - The direction of the market is the king of the game. Study what the market wants to do first (Trending, Ranging, etc.) then act accordingly.đ
4. Track trades - Journaling is the most underrated part in the journey of becoming a successful trader. It might be boring but it's necessary to check weekly, monthly progress âł
5. Show up everyday - It doesn't matter if you don't trade for a day, showing up just means being present. just look at the chart and how it moves. đ
6. Never give up - Learn from the mistakes bro, Refocus - Reset - Restart đŠŸ
#AmanXBT đ Support me by tipping if you like my content and motivate me đ„Č
đ Approx 3 years for me trading the crypto market, these are the most important skills that you need to become profitable:
Many people don't even know how to follow trade signals/calls đ„Č
Let me teach you my friends, Really it hits me hard when some people comments on my post that they lost money.đ„Ž
1. Patience - Trading is 80% waiting and 20% execution. Understand that the market will not always give you the set up you want and that it takes time until it finally gives you the signal to enter a trade. Mastering the art of patience will save you from low quality trades.đ
2. Risk Management - Even if you follow the best traders in the planet and use their signals as a way to trade, you'd still end up loosing money because you risk more than you win. Study how to manage your risk so every loss is not equal to every win. ( In simple terms risk less bro, risk per trade should be less than 3% of your capital ) â ïž
3. Understanding Market Structure - The direction of the market is the king of the game. Study what the market wants to do first (Trending, Ranging, etc.) then act accordingly.đ
4. Track trades - Journaling is the most underrated part in the journey of becoming a successful trader. It might be boring but it's necessary to check weekly, monthly progress âł
5. Show up everyday - It doesn't matter if you don't trade for a day, showing up just means being present. just look at the chart and how it moves. đ
6. Never give up - Learn from the mistakes bro, Refocus - Reset - Restart đŠŸ
#AmanXBT đ Support me by tipping if you like my content and motivate me đ„Č
Chill guys
If u survived this dump and managed to make profit by adding more in dip, congrats u learnt a lot and u will surely make it. Just keep it going as it is
Also few people lost a lot in this dump, rather than being sad, take it as a lesson and learn from it. Even i got liquidated a lot of times in my first bull run and it's totally fine. Comeback stronger
A mistake is a big mistake if u don't learn from it.
Cheers đ€ #vikings #AmanXBT
If u survived this dump and managed to make profit by adding more in dip, congrats u learnt a lot and u will surely make it. Just keep it going as it is
Also few people lost a lot in this dump, rather than being sad, take it as a lesson and learn from it. Even i got liquidated a lot of times in my first bull run and it's totally fine. Comeback stronger
A mistake is a big mistake if u don't learn from it.
Cheers đ€ #vikings #AmanXBT
Binance 6th Anniversary Gift Coming ?
Do you guys want to know how to do it.
it's that simple just keep supporting Binance
Here are some tips for you
1. Follow all official social media channels of Binance
2. Keep active on twitter
3. Participating in every campaign can reward you binance merch
4. If you want to know more secrets let me know in the comments.
Keep Following me #AmanXBT For more
#BinanceTournament #tradingStrategy
Do you guys want to know how to do it.
it's that simple just keep supporting Binance
Here are some tips for you
1. Follow all official social media channels of Binance
2. Keep active on twitter
3. Participating in every campaign can reward you binance merch
4. If you want to know more secrets let me know in the comments.
Keep Following me #AmanXBT For more
#BinanceTournament #tradingStrategy
