WHAT’S THE PSYCHOLOGY TO BE IN WHEN TRADING ( AS A BEGINNER IN CRYPTO CURRENCIES AND FOREX MARKETS )

Trading psychology is often misconstrued to the emotion that one experience after a losing or a successful trade.

This is an emotion that is very common amongst Beginners in Crypto Currencies and Forex Trading.

Trading psychology is the belief system at which you affirm your self towards trading, your state of thought,your way of articulating your emotions,trading based on logic and system instead of what you think might happen.

Trading psychology liberates your decision making in the market,its not the money that affects your psychology,its the emotion attached to the out come of the decisions you made in the market.

We first make the decisions,then the decisions make us.

Trading psychology is not only the emotions,its the mindset you build against your self,the dexterity to accept risk and fully comprehend the fact that you’ll be wrong when initiating trades.

Been going through net losses for 2years until ICT revelations!

As a beginner trader in Crypto Currencies and Forex, you need to understand that you’re first of all by default on the loosing side because you are yet to have sufficient experiential knowledge.

Hence, try to protect your equity by the following (from personal experience):

1. Find the smallest deposit account (cents or micro) and stick to depositing only that minimum at any instance (Could be as lows as 2$ or less)

2. Practice Trading this account with the lowest lot size 0.01 until you successfully triple it.

3. On lower time frames (1H and 15M), Pay attention to any relative equal highs formed (double tops, M formations) and relative equal lows (double bottom W formations), especially when price trades away from them immediately they form because that is usually your short term liquidity (directional bias)… algorithm will almost always return to sweep those relative equal levels.

4. Also pay attention to FVGs and Orderblocks especially when price seem to running towards them because, they almost always end up trading into or through them.

5. When you have a bias, always anticipate and wait for the false move in the opposite direction (Judas swing, liquidity grabs, turtle soup setups, etc) and then counter it if it runs through some recent swing and immediately rebounds aggressively away.

6. Learn to wait for a buy when price is trading close to an old low, or a sell when price is trading close to an old high.
Never buy high or sell low!

7. SL should go below or above significant 15M or 1H swing lows or swing Highs respectively, and once in place, don’t move it unless to break-even a favourable trade.

8. When you catch a good setup that trade in your favor, trail your SL to break-even and try giving it two days to run.

9. If a seemingly strong setup fails, try reanalyzing your bias in the opposite sense.

10. Never enter a trade immediately price makes an aggressive one candle run (chasing price), it can easily turn into a buy high or sell low error, an equally aggressive retracement could ruin your mood or worse blow your equity.

Dear Forex and Crypto Traders

You have to realize that everyone’s trading journey is different, and there is no best trading strategy, every strategy is good if you use it the right way.

There are 1000’s of ways to make money in the markets.
The only way you are going to make money in the markets is by finding an approach that gives you an edge you fully understand.

It’s okay to learn from others or to hire a trading coach, but the goal should be to learn profitable concepts from your trading coach and then make them your own.

That’s how you become profitable.📊📈📉

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Trading tips

1.Trust your strategy and focus only on your strategy to make it to be sharp so that you can be profitable constantly.
2. Trust to avoid greedy when you have made some profit be happy of what you have made for that day.
3.Use Rick management so that you can be able to have small losses and have more wins

https://www.binance.com/en/activity/referral-entry/CPA?fromActivityPage=true&ref=CPA_00R9LJ2LDW

We will get better Beginners in Crypto Currencies and Forex markets.