CriptoPlayer
@Player_Cripto
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Today I came here to recommend a book. If fear and anxiety are feelings that you can't shake when you trade in the market, I'm sure this book is for you.
The name of the book in English is "Trading in the Zone", but it has been translated into several languages, so just look for the version in the desired language.
The book brings several concepts and analogies about how our beliefs influence trading and how mental and psychological factors can be linked to our successes and failures in the market. The goal of the book is to help us overcome our mental barriers and demonstrate how a good technical analysis without the "calm" necessary to trade is useless, since we will be subject to several mistakes due to impulse and fear or excuses that lead us to justify why we enter, not enter, or exit trades before time.
The main goal of the book is to make us consistent winners in the financial market by overcoming conflicting beliefs and demonstrating how the best traders think, helping us to put into perspective their way of acting and dealing with their own mistakes.
"Attitude produces better overall results than analysis or technique. If you have the right attitude - the right mindset - then everything else in trading will be relatively easy, even simple, and certainly a lot more fun."
(Trading in the zone)
#daytrading #book #SwingTrade #XmasCryptoMiracles
The name of the book in English is "Trading in the Zone", but it has been translated into several languages, so just look for the version in the desired language.
The book brings several concepts and analogies about how our beliefs influence trading and how mental and psychological factors can be linked to our successes and failures in the market. The goal of the book is to help us overcome our mental barriers and demonstrate how a good technical analysis without the "calm" necessary to trade is useless, since we will be subject to several mistakes due to impulse and fear or excuses that lead us to justify why we enter, not enter, or exit trades before time.
The main goal of the book is to make us consistent winners in the financial market by overcoming conflicting beliefs and demonstrating how the best traders think, helping us to put into perspective their way of acting and dealing with their own mistakes.
"Attitude produces better overall results than analysis or technique. If you have the right attitude - the right mindset - then everything else in trading will be relatively easy, even simple, and certainly a lot more fun."
(Trading in the zone)
#daytrading #book #SwingTrade #XmasCryptoMiracles
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From $1 to $1,000,000, the power of compounding.
If I told you that with just 1 dollar it is completely possible to reach 1,000,000, what would you say? Since we are in the crypto market, I am sure you would say it is possible. Now, what if I told you that you don't need to find a currency that cuts the long-awaited six zeros? It seems more difficult now, right?
It's really just a matter of consistency. I want to demonstrate here how small profits every day are extremely powerful.
Let's get to the point. In this hypothetical situation, we'll work with someone who opens and closes trades within a period of one day every day, without any breaks or rest. This trader is not an excellent analyst, but he has a good view of support and resistance and can see when the probability of winning is greater than losing. His focus is to make a 1% profit trade on all his assets every day until he reaches 1 million (every day some currency on the market varies 1% or more, so we're working with a completely possible scenario).
It's really just a matter of consistency. I want to demonstrate here how small profits every day are extremely powerful.
Let's get to the point. In this hypothetical situation, we'll work with someone who opens and closes trades within a period of one day every day, without any breaks or rest. This trader is not an excellent analyst, but he has a good view of support and resistance and can see when the probability of winning is greater than losing. His focus is to make a 1% profit trade on all his assets every day until he reaches 1 million (every day some currency on the market varies 1% or more, so we're working with a completely possible scenario).
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About the method to protect capital from large falls
A few days ago I brought here a good method for beginners to protect themselves from the market's decline through staggered purchases divided into 4 following the market's decline. I read your comments and in response to requests I am here to bring a practical example with an operation in which I am in the currency $ACA .
Before trying to interpret the graph I have placed, pay close attention to the next two paragraphs as I will emphasize points of extreme importance so that you can see more than just lines drawn "randomly" and, in addition, I will bring the meaning of each line within the operation.
Before trying to interpret the graph I have placed, pay close attention to the next two paragraphs as I will emphasize points of extreme importance so that you can see more than just lines drawn "randomly" and, in addition, I will bring the meaning of each line within the operation.
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For those who don't understand why the market is down, here's a simple explanation:
The Fed (the central bank of the United States) announced that it is not allowed to buy $BTC , and why is that bad? The big rise in the market was generated precisely in the expectation of the purchase of Bitcoin by the United States. In other words, this announcement was seen with great pessimism by large and medium investors, who took the first wave of falls by selling part, if not all, of their positions.
In addition, several ETFs (Index Funds) had mass redemptions and since they invest in several assets, including Bitcoin, without capital their operations had to be reduced. We are not talking about a few dollars, but billions of dollars, and a reduction of this size in investments undoubtedly impacts the entire market.
Due to this first fall, some poorly positioned investors also ended up selling their positions, which led to another fall, even more abrupt than the first. Therefore, other investors driven by fear also liquidate their positions and further lower prices, leading to the moment we are about to begin, which will be one of market despair, where even those who are well-positioned close their operations for fear of the decline continuing and, ironically, they cause the last major wave of decline that can sometimes last for days.
A tip for two types of investors now: If you are already positioned and do not need the money under any circumstances, do not exit your position! However, if you have not yet made your entry, wait for the sea to calm down and wait for a sign that may indicate that the turbulence will end and then open your position.
Now, I leave you with a thought; the market recovered from the stock market crash in 1929 and the real estate crisis in 2008 (two examples completely out of proportion to the current situation). Do you really think that this decline will not end and the market will not recover?
#BTCNextMove #TradeToWin
The Fed (the central bank of the United States) announced that it is not allowed to buy $BTC , and why is that bad? The big rise in the market was generated precisely in the expectation of the purchase of Bitcoin by the United States. In other words, this announcement was seen with great pessimism by large and medium investors, who took the first wave of falls by selling part, if not all, of their positions.
In addition, several ETFs (Index Funds) had mass redemptions and since they invest in several assets, including Bitcoin, without capital their operations had to be reduced. We are not talking about a few dollars, but billions of dollars, and a reduction of this size in investments undoubtedly impacts the entire market.
Due to this first fall, some poorly positioned investors also ended up selling their positions, which led to another fall, even more abrupt than the first. Therefore, other investors driven by fear also liquidate their positions and further lower prices, leading to the moment we are about to begin, which will be one of market despair, where even those who are well-positioned close their operations for fear of the decline continuing and, ironically, they cause the last major wave of decline that can sometimes last for days.
A tip for two types of investors now: If you are already positioned and do not need the money under any circumstances, do not exit your position! However, if you have not yet made your entry, wait for the sea to calm down and wait for a sign that may indicate that the turbulence will end and then open your position.
Now, I leave you with a thought; the market recovered from the stock market crash in 1929 and the real estate crisis in 2008 (two examples completely out of proportion to the current situation). Do you really think that this decline will not end and the market will not recover?
#BTCNextMove #TradeToWin
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I would like to give a tip to everyone who is starting out in the market and intends to carry out short or very short-term operations. Divide your purchases into 4 parts; how? Draw 4 support lines below the price at which the currency you want to buy is trading and follow them strictly as buying points. Many times you will not even reach the third purchase and already make good profits. After drawing the 4 support lines, place two resistance lines above the current point (or at the current point if you notice that it is at a resistance) and follow both lines as selling points, without concessions and desperate sales; the first line being the safest and most accurate that the currency will reach again and the second if you are willing to take more risks and wait a longer time to sell.
This method is very effective because it provides security in times of decline, such as those seen yesterday and today, because even if the currency continues to fall, you still have funds to buy and can wait for the market's pessimism to end more calmly, bringing your exit point without losses ever lower and consequently the profit point can also be reallocated to one of the previous support lines that will now possibly serve as resistance (although I recommend waiting until the resistance lines initially drawn, which will give an exceptional profit when reached).
#Binance #daytrade #swingtrade #MarketCorrectionBuyOrHODL
This method is very effective because it provides security in times of decline, such as those seen yesterday and today, because even if the currency continues to fall, you still have funds to buy and can wait for the market's pessimism to end more calmly, bringing your exit point without losses ever lower and consequently the profit point can also be reallocated to one of the previous support lines that will now possibly serve as resistance (although I recommend waiting until the resistance lines initially drawn, which will give an exceptional profit when reached).
#Binance #daytrade #swingtrade #MarketCorrectionBuyOrHODL