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Education

About Success Traders

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About Success Traders

Let’s see what they think, how they act in the hope of helping newcomers to the forex trading or those who are struggling to get ahead in forex trading. act as a professional trader. From there, you will gradually have these good habits and improve the results of trading, through each day. You may have heard, read about these things but I will (again) continue to mention them (as you often see in the posts) and they will certainly help you.

THEY THINK AS A BIG MANAGER

Maybe I’m dealing with a lot bigger than you, but from the beginning all are the same, we all start with 0.1 or even 0.01 and gradually the lottery numbers increase. And I can say that: the size of a small account of forex is not as important as you think, the size or small account will not make sense if you do not trade properly. If you do not trade on the $ 1000 account, then with $ 10,000 or $ 100,000, you still keep losing.

There are a lot of people initially thought that with a small account, keep on going, continue to risk, then ever big account will be careful. They think that with small accounts, forced to hit a lot and dose to earn a decent amount. And wait for the big account to beat, they swear that the law will wait for a chance to be sure, just 1-2 orders won the whole month will be enough money spent, not as when dealing small amount. That day never came.

The thing I want to say is that successful traders always have a way of thinking like a big fund manager (though they are trading a small account).

Do not ever burn the stage with the desire to make money fast, so much, do not think that profits will earn right. Everything needs time, you need to learn the right way, learn how to think, control yourself, keep learning and you will make a lot of money to the end of life.

THE LAW OF ACTION

“Group” is a word about the actions of a large number of new traders, the chickens and pigs in trading often lose money, the goal of any trader is to escape this group and join the other small group, or you can call them  farmers”.

They are not afraid to buy high – sell low

How many times have you seen the market go beyond what you think, even imagine? (look at copper bitcoin). This happens quite often, the market goes into a very strong trend and unsuccessful traders always have a lot of reasons to believe that the market can never go so far or fall deep, as people say: be greedy when others fear, and vice versa.

THEY DON’T TRADE MUCH IN A DAY

Successful traders are rarely transactional people in the day, I myself do not know anyone like that.

There are a lot of reasons why I am opposed to many forex trading days, and one of the biggest reasons is that it’s so hard to make money on a regular basis, instead of being a trader waiting patiently with some orders. 1 month, not to mention the time consuming, effort.

Successful traders often waits patiently to enter the order, and also patience in keeping the order, trying to maximize profit if possible. They can hold a trading order for several weeks rather than risking much to sporadically pick up when trying to trade a lot every day.

They focus on day candles, because they are the most important time frame and most advantageous for Forex trading, I personally trade most with Daily Candles, Monday is Candle Weekly and Tuesday is H4.

A low-frequency, low-price trading strategy is something you should have on your way to success, so think about why most people lose money. Are they trading a lot? Think about what the masses do, the masses still flay with burning accounts and the excesses.

THEY ARE STRICTLY IN MOST OF THE ORDER

New people are often unaware of not doing so is a great act. Keep this in mind: Do not enter the order as one of your best forex trading orders.

You need to be disciplined, you need patience and these two qualities are built by waiting and only risking bloody coins on high probability chances and learning how to enjoy the observation silence.

How could Warren Buffet say, “I can improve your finances by offering a 20-seat ticket, which means you’ll have 20 clicks, showing all of those, the investment you have in your life, once you’ve squeezed, there will never be a next investment going on. With those rules, you will really think very carefully about what you have done, and you will only be acting with the thought, and your finances will be much better.

THE USE OF STOP-LOSS IS WIDTH

Because dealing with large time frames (Daily-Weekly), their stop-loss position is based on the type of candle, which means that the stop-loss is usually widely used.

They understand that every day the market is always up and down waves, they give orders trading opportunities to survive and win. Random movements in narrow margins are very natural in the foreign exchange market. If dealing with M30, M15 or even H1, the possibility of a random market move very light enough to touch.

THEIR % IS NOT CALCULATED BY NUMBERS

Successful Forex traders focus their attention on trading orders, not on money.

By doing so, they make the transaction a competitive game, between themselves and others, between themselves and themselves. You have to “play” the right, if wrong, the immediate consequences are loss of money.

They measure the result by the risk / reward ratio – risk / reward. We can call that rate R. Example 2R will mean that we put the risk of 1 and double that risk amount.

It is not the best way to measure your ability to trade in dollars or $ per person. The circumstances of each trader are different, their account number is also small different, so you need to measure your trading by [amount of money to take risk] with [interest amount earn]. That is “R”.

Make at least 2R for each transaction (unless the market has something to interfere with your order and accept a small profit, this is not the case). If the money you earn from a winning order is not enough to pay for at least two losing orders, what will make you survive in the market?

With a big R, you can win 3 or 4 times out of 10 (losing 6-7) and still have plenty of pocket money.

THEY DON’T SHARE MUCH ABOUT THEIR JOB

This is what I see in most successful traders, such as Buffet or Soros, who have recommended this.

When you share and hear others share, invisible you also have their analyzes affect the recognition and evaluation of the market. For those new to forex trading, this leads them to a deranged labyrinth, of all kinds of methods, enough reasoning, which at first seems to be justified.

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WEBSITE

=> https://TheBlockchain101.com

TELEGRAM

=> https://t.me/TheBlockchain101

FACEBOOK

=> https://www.facebook.com/TheBlockchain101

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=> https://www.instagram.com/TheBlockchain101

TWITTER

=> https://twitter.com/Blockchain101_

TRADINGVIEW

=> https://www.tradingview.com/u/DrDarvas/

 

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Education

Good For BITCOIN, Also Me

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Good For BITCOIN, Also Me

I read a story that resuscitated the mood so I think that I should share with you – who are in the same mood:

Firstly

1.5 years ago, after I read the Bitcoin documentation, I really liked it. At the age of 18, I used 100 Euro to buy Bitcoin, the adventure started. We all know what happened then, terrible increase, terrible hype and FOMO terrible. I continued to buy more and have a good profit, but profit does not satisfy me, my only goal is to own Bitcoin as much as possible. I also did a part-time job besides studying and earning about 200 Euro every month, and every time I get my pay, I buy Bitcoin all the time.

Then

In my last summer vacation, I work nonstop, 7-9 hours a day and 4 days/week, I do it for one purpose: to buy more Bitcoins, for me it is the goal of today’s life. Many people work for expensive things or endless beer parties. But not me, although I am currently at a loss, I continue to use my monthly salary to buy Bitcoin. Nothing changed. Bitcoin is a great different currency, it will return to its true position in the future, each cycle means that Bitcoin is more held. Bitcoin is not a substitute for legal money. I’m not the absolute believer, but it is really a great difference.

Good For BITCOIN, Also Me

Finally

Reflections on the story feel more open minded, I am young, have no family, not much to worry about. Instead of spending the monthly money on expensive items, the drink is not very useful! Why don’t save cash to buy Bitcoin? It’s not a bad idea, but now Bitcoin prices are very low anymore. There is risk, but in life, if you want to be succeed or want to make a lot of money, you must bet and take risks. If the worst case happens, then I just lost a few luxury items that sometimes after a while to use it to realize that it is not necessary, lose a few healthy snacks, I do not really lose much. Thinking more optimistic, the worst case happens, I still benefit from it, more lessons, more purpose to try to make more money, failure is not bad at all.

But what is the worst case scenario and what if the good case happens? In this case everyone can imagine and imagine better than anyone else.

— — — — — — — — — — — — — — — — — — — — — —

WEBSITE

=> https://TheBlockchain101.com

TELEGRAM

=> https://t.me/TheBlockchain101

FACEBOOK

=> https://www.facebook.com/TheBlockchain101

INSTAGRAM

=> https://www.instagram.com/TheBlockchain101

TWITTER

=> https://twitter.com/Blockchain101_

TRADINGVIEW

=> https://www.tradingview.com/u/DrDarvas/

 

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DAI

Diary Of A New Trader (Newbie)

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Diary Of A New Trader (Newbie)

I have more thoughts about trading, during that course, I began to understand what I was doing wrong. It shows me a better understanding of financial markets and various financial tools including forex.

I have also researched a bit about the history of the markets and the people who really represent this market, I know the forces that move the market and who are the market participants.

Above all, I started to learn what a new trader needs to learn. Probably the most talked-about thing about the trainer is stopping the loss, stopping at all times to avoid going out of the way.

Before going into the article, I share with you about ‘Newie Problems: Pitfall

Diary Of A New Trader (Newbie)

About automatic trading

To protect ourselves, our teacher advised us to switch to automated trading, but if you do that then I should invest money through a financial adviser who will have more experience managing the money.

I didn’t choose that way, before handing out money to anyone I wanted to study myself, even if I lost money, it must be my own hands. I choose the mathematical approach in the transaction and use a few more indicators. There are pros and cons in my strategy, I have yet to profit. In terms of psychology, it seems I am in a state where I am fascinated by everything.

Sometimes I thought, “Now that I know everything, I can not wait any longer to put it into practice and start making money.”

Personal aspects

I have a girlfriend before I know about trading, my period of study on forex is also a time when my girlfriend needs some money, I told her that I would earn more to have a little help her that.

Unfortunately, everything was not as I thought, my trading journey begins to deviate from the path I want to take to a whole new level.

In moments of loss, the lecturer’s words came to my mind, oh for a moment I forgot his words about the importance of discipline, respect for the rules trading plans, trading logs, and I do not follow any rules.

Diary Of A New Trader (Newbie)

Book and transactional discipline

I started looking for trading books to see if that helped, the first book I read was “Trading in the Zone” by Mark Douglas. This book is very well appreciated in the field of transaction psychology.

I was also advised to read “Master Trader” (Capra and Velez), a blend of trading techniques and market psychology.

I need to read them all and I bought them all, read them, but I’m not yet in a good enough stage to really understand all of these books because I’m still a beginner and too inexperienced to understand. their real meaning.

But in some ways these books helped me better, trading more carefully, in my head began to produce more thought as I sat in front of the screen, I began to lose less and I used stop loss.

That is how my trading journey began and from a beginner’s beginner, I carefully continued my journey of self-discovery step by step.

— — — — — — — — — — — — — — — — — — — — — —

WEBSITE

=> https://TheBlockchain101.com

TELEGRAM

=> https://t.me/TheBlockchain101

FACEBOOK

=> https://www.facebook.com/TheBlockchain101

INSTAGRAM

=> https://www.instagram.com/TheBlockchain101

TWITTER

=> https://twitter.com/Blockchain101_

TRADINGVIEW

=> https://www.tradingview.com/u/DrDarvas/

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Education

Psychological Effects Related to Trader’s Trading Errors

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Psychological Effects Related to Trader's Trading Errors

First of all, please refer ‘Overcome The Boredom‘ to get more information about Psychological Effects.

The human brain is an attractive biological machine

It allows us to do many things at the same time that may not need to think about how to do it. You can either drive a car or have a conversation about a complicated topic, or just have breakfast and read a document.

This is only possible because our brains use “shortcuts” to process the data automatically. Unfortunately, these “shortcuts” do not always work as expected, especially when it comes to dealing and investing, which requires a lot of different skills and thinking.

The automation of thinking and decision making is done through so-called psychological biases or based on prior experience. It’s a little confusing, but we’re going to go into the focus right now, this is a list of 17 psychological biases that affect trading decisions.

Psychological Effects Related to Trader's Trading Errors

How it affects the trader

People often estimate the possibility of an event based on what they are most likely to remember, traders are affected by the most recent deals and let the results influence their decisions.

After a loss, the trader often feels scared and the psychologically lead to incorrect trading decisions.

After winning, the trader was too confident, thinking that he really understood the market and traded more coyly.

=> A trader must always be wary of the impact from the latest deals, remember to always inappropriate data depletes data appropriately. Using too many tools and concepts to analyze the price can be a travesty and lose sight of the core.

Using tools fairly and focus on the most basic.

Assuming that the probability of self-balancing in the short run.

After a consecutive losing sequence, the trader thinks that the probability of winning will be higher, but this is not certain (especially with low time frame traders).

=> In the short term the probability is not very accurate, so focus on the long term.

Overestimate the importance of the first information obtained. When opening a trading order, the trader usually puts all their attention on the “bid price” and loses sight and perspective.

=> Trader must always have a plan BEFORE entering a command.

There is no accurate assessment of the importance of sample size, a trader too often makes assumptions about the accuracy of the system that he uses based on only a few transactions. Or even changes the parameters after the appearance of several defeats.

Minimum sample size is 30 – 50 orders, you don’t change anything about your approach before reaching this number.

=> Persistence with a method and evaluation on the sample set large enough.

— — — — — — — — — — — — — — — — — — — — — —

WEBSITE

=> https://TheBlockchain101.com

TELEGRAM

=> https://t.me/TheBlockchain101

FACEBOOK

=> https://www.facebook.com/TheBlockchain101

INSTAGRAM

=> https://www.instagram.com/TheBlockchain101

TWITTER

=> https://twitter.com/Blockchain101_

TRADINGVIEW

=> https://www.tradingview.com/u/DrDarvas/

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