How not be manipulated by the market as a beginner in Crypto Currencies and Forex Trading
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Forex trading is not just about technical analysis, candlestick patterns, and support & resistance lines!
There are π¦ππ§π² factors that influence the market every day.
And many Traders get caught out by these things and lose their trades
π€ So what is the Solution? π€
π For the retail trader, complexity creates an illusion of certainty that’s inherently not there.
Keep it simple.
1. Price action
2. One or two indicators max (if any)
3. Effective money and risk management rules
4. Mental edge (positive attitude, perspective,
awareness, wisdom)
The FOREX market is a zero sum game, which means that for a trader/institution to buy/sell 1 currency pair it’s necessary that there is another trader/institution with an opposite position.
If Smart Money (Banks) want to buy a currency pair they will need sellers in the market, the existing facility to place these positions In the market is called LIQUIDITY.
βοΈ The Liquidity is defined by Stop losses, where the Stop losses exist is where the liquidity also exists.
Smart Money needs to activate the stop losses of existing orders in the market so that they can place their positions in the market.
βοΈ In the FOREX market there are two types of liquidity, which are:
1. Buy Stops Liquidity (BSL)
The BSL is originated by Stop Losses of sell orders, after the BSL is taken, the market reverses to the downside, because banks use
the BSL to place sell orders in the market.
2. Sell Stops Liquidity (SSL)
The SSL is originated by Stop Losses of Buy orders, after the SSL is taken, the market reverses to the Upside, because banks use the
SSL to place Buy orders in the market.
βοΈ PMH & PML – Previous Month High & Low
PWH & PWL – Previous Week High & Low
PDH & PDL – Previous Day High & Low
HOD & LOD – High Of Day & Low Of Day
OLD HIGH & Low – Swing High & Low
EQUAL HIGHS & LOWS = Retail Resistance & Support.
Be disciplined every day.
In every trade.
And the market will reward you.
But don’t claim to be disciplined if you are not.
If you trade with discipline 9 times out of 10, then you can’t claim to be a disciplined trader.
It must be practiced in every trade.
Invest for the long-term.
Don’t get caught up in short-term market fluctuations, focus on building a portfolio that will grow over time.
It might not be today or tomorrow but trust me, one day FOREX and CRYPTO will pay bills πΆ
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You must first have an account to take advantage of Bitcoin
For information on how and where to open the most profitable crypto account the easy way
https://www.binance.com/en/activity/referral-entry/CPA?fromActivityPage=true&ref=CPA_00R9LJ2LDW
The best traders need:
1) Discipline to follow the system
2) Confidence to execute the system
3) Patience to execute the system
4) Persistence in the execution of the system
5) The system that is tested and proven
As a beginner in Crypto Currencies and Forex Trading Markets you must understand these basics in order to make money.