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Education

Trading: 12 things To Remember

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Trading: 12 things To Remember
  1. Always in a ready position

We can have fun while playing, but when we sit on the computer to trade, we have to take a deep breath and concentrate all because every situation can happen, waves and fluctuations very quickly, just in the blink of an eye.

  1. Practice every day

Whether it is part-time or full time, that’s the job we’re doing. Try to practice every day to undergo the pressure to maintain each day, to focus on making it a habit.

  1. Have a clear strategy

This is sure, if you want to go long distance with Forex trading need to have specific strategies.

  1. Follow the strategy

Observe your own strategy: Risk, loss, profit taking, … Having a clear strategy, you need to follow it in order to help you win your trade. However, to realize the value of strategic compliance, not everyone can do it.

  1. Sleeping

Not getting enough sleep does not do anything, many people find that late night will help them think better, but more than compensate for the morning to sleep and you will take a lot of time.

It is only in the short term, it is necessary to sleep early to conserve energy and work all day, a few hours at night is not solving much in the long term.

  1. Be patient

Do not make the decision in a hurry, if you lose more than expected, the high possibility is that the emotions will be disturbed, a losing sequence will come next.

  1. Be strong when you know what you are doing

Opportunities do not have much, but when sure of the opportunity before the eyes are brave to maximize their strength.

  1. Learn from failure

Everyone will have a failure at times, just the time, but the road is still there, we must stand up to go forward. Be alert to the point that we lose and apply it for the next time.

  1. Have a good spirit

While researching and practicing any field, we need to maintain winning mentality, practice hard, always support ourselves in the chosen path and push ourselves up.

  1. Resting

You also need time to relax, entertain yourself after a long hours of trading.

  1. Open your mind

Nothing is 100% certain in any game. For Forex, there are always things that we do not know, changes that we have not caught up, remember to always have an open head, to absorb others’ words and consider it.

  1. Everything takes time

Trying to get things in too short a time is not always good. We can be slow and sure, we can lose at first but win because of time and learning.

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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

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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