SOME MORE RANDOM ADVISE FOR BEGINNERS IN CRYPTO CURRENCIES AND FOREX TRADING MARKETS

Some more random advice for beginners in Crypto Currencies and Forex Trading Markets

Investing in crypto can be a great way to build wealth, but it’s important to stay grounded and not get carried away by the hype.

Every time you break your trading rules

Your confidence will drop.

Protect your confidence, it’s your greatest weapon.
The craziest thing is that fear of losing disappears when you start thinking in probabilities.

FOMO disappears when you start trusting your trading system.

Fear of failure disappears when you start thinking longterm.

Everything depends on you

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Regardless of what type of trader you are, you can’t just steal some concepts and expect them to work.

Even through rigorous testing of those concepts.

Concepts are made through data, if you haven’t collected data to understand that concept, you can’t use it effectively.

But, how do we do this?

Concepts are made through tendencies, tendencies are gathered through asking the market creative questions.

This could be questions like “how often is both NY and London bullish?”

“How often does price spike liquidity of important highs?”

Once you have gathered 2-3 years of data per question you can then gain an understand of what sort of rule you can form and slowly build your own concepts.

This takes time, up to 1-2 years.

Its what 98% of traders refuse to do.

If you want to be the 2% you gotta put in this work.

HOW TO AVOID BEING “SCAMMED”

Ok, firstly I’d like to talk about how scammers are taking your money and how you can avoid this.

” ACCOUNT MANAGEMENT”

They claim to be a professional account manager working for an organization or a small firm etc.

They will inbox you telling you account management is available for a fee of $500, deposit $1000 and a daily target $25000.

If a Broker can do this for you ,why can’t they trade on their own account and create those figures for themselves?

And why would you be so desperate to trade for people if you can make such money ?

90% – 95% of those accounts manager are ALWAYS scammers since their real account are blown.

” Joint account deposit $1000 each one person we take it to $50k ”

When you see Posts like this, you really need to be asking your self just ONE question.

“If someone is really making money from trading, why on earth would they spend all their time advertising their joint account when they could be spending their time actually Trading with their own money!

Doesn’t make any sense, does it?

Of course not, that’s because they make money from YOU and NOT trading.

Am I suggesting that 100% of traders with joint accounts are scammers? No!

But chances are they are trying to scam you.

Some of these scammers are not as stupid as they make out and on occasions can be convincing.

Some scammers will go as far as to creating fake Whatsapp conversations with their “successful students” confirming that their profit was paid and how rich they’re becoming.

Oh please!! We obviously know it’s just the scammer talking to himself via two phones.

Some of these conversations look genuine but I can assure you its a fake conversation and there is no profit or successful student.

Do not fall for this shit!

As a beginner in Crypto Currencies and Forex Trading Markets They’ll tell you to journal your trades, but never tell you how.

Here is the journaling format that led me to consistency.

I will be going over everything you need to write down for each of your trades.

Journaling is very affective, it shows your mistakes and records your growth.

THE BASICS 📕

The simples stuff such as

– how much did I win/lose

– what % did I win/lose

– position size

– price target/stop loss are the first things you want to keep track off, let’s get into the actual journaling part..

WHY DID YOU ENTER & EXIT?🚪

What was the reasoning behind you entering and exiting the play?

Rate your setup 1-10.

Knowing this will help you with similar trades in the future, incase let’s say you got in for a bad reason, now you know what to/not to do next time the setup comes

WHAT DID I DO GOOD? 👍

Even if it was a red trade, in some way shape or form you did something good in the trade, try to find it and congratulate yourself for it.

Keep track of ALL good habits as they stack up and also help with making sure you keep doing it in every trade.

WHAT DID I DO BAD? 👎

A perfect trade is pretty rare, we make tons of mistakes and it may not always be straight forward, maybe it was your emotions?

Write down what you do bad for each trade and look over it as often as possible, helps prevent it from happening again!

WHAT YOU COULD’VE DONE BETTER? 💎

Now it may not be good or bad exactly, but after this trade… this area needs improvement and I should focus on doing a better job of this in my next trades.

ALWAYS SEEK IMPROVEMENT.

Always remain a student of the game.

HOW DID I FEEL? 🧠

Trading journals help the most with improving your psychology in my opinion because if you’re keeping track of how you felt during each trade, you can see the areas in your psychology that are dragging you down and causing you to be emotional

WHAT DID I LEARN? ✅

We learn something new from every trade!

As I said earlier ALWAYS seek improvement, if you keep track of everything you’re learning from each trade, it’s going to do nothing but make you more AWARE of those things in your next trades.

JOURNAL YOUR ENVIRONMENT 💻

Personally something I always overlooked.

Small things outside of trading impact MY trading

I write EVERYTHING down

If my office is dirty, it messes with my trading (just an example).

You will notice these small things hold some weight at the end

👍😊✌️💪✍️🙏

A pattern I’ve noticed in successful traders;

They dont let emotions get in the way.

They dont take unnecessary risks.

They dont like gambling.

3 steps to successful trading:

1. Plan the trade, and trade the plan.

2. Plan the trade, and trade the plan.

3. Plan the trade, and trade the plan.

There should be zero guessing only reacting.

Can you answer these 3 questions…

1. What’s your entry?

2. What’s your exit?

3. What’s your risk?

If you can do without hesitating, you are well ahead of 95% of failing traders!

The hesitation comes from a need for more confidence.

And Confidence comes from preparation.

Confidence is usually a simple fix.

Here’s the formula :

Strategy + Test it + Verify it = Confidence

Great traders have zero hesitation.

They have done the slow and painful work needed to create confidence in their strategy and themselves.

Have you???

Everyone Wants To Succeed In Forex Until They Blow There Account.

That’s Where Reality Starts🤞🏽

Failure is the best Teacher coz That’s The only Way to learn & To Accept

I don’t know who wants to hear this, blow that demo account with the same amount you can afford to fund it with, and then trade that amount the same way you would trade you real money, repeat the process as many times as possible.

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In the first year when I began trading.

I believed trading is all luck.

That I needed to only time when time was right and I would make alot of money.

Slowly over the years that belief has been dismantled.

Trading is extremely hardwork.

Not only will take you a long time to be self disciplined in your trading but also your personal life.

A time will come when both will pay off.

Your own self discipline and discipline in trading.

The only luck in trading is the one you get after thorough preparation.

Most traders don’t lack talent, they lack patience.

Trading success is not linear.

For example you can lose for 5 years, then in 1 month you gain everything back.

Small lots is the key to success.

Just forget about indicators and get knowledge.

Make profit.

This is an open message for the adviser’s for big lot Trading

:You can do everything right and still lose

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THE FIB EXTENSION LEVELS:

Fibonacci is a powerful tool that can help you plot possible reversal levels on a chart, especially at the complete section of PATTERN1234.

BUY THE WAY, 👉you can also use the Fibonacci retracement tool to plot the same levels as the extension tool👈.

It helps to minimize the number of tools you use when doing analysis.(simplify your trading)

Also, note that knowing the correct swing to measure extensions is crucial, as👉 NOT ALL SWINGS👈 can portray correct extension levels.

Understanding the structure pattern is crucial when using ANY Fibonacci tool.

POINT:Learn the Fibonacci extension tool

I HOPE YOU FIND THIS USEFUL🧐🤓🤓

After discovering what strategy you want to use.

There comes the hectic work of deciding what trader you want to be.

Its mentally exhausting as you try to decipher whether you want to be a day trader or a scalper.

Every timeframe looks the ideal timeframe.

This is why I understand when I see traders moving from the daily timeframe to the 1 minute timeframe.

It takes time to focus on only 1 timeframe.

However a time will come and you will be okay.

For now, keep on doing your experiments.

We said this is a marathon and not a sprint.

Plan the trade

Trade the plan

Better money missed than money lost

The market will always be there

All we can control is risk



Remember, at the end of the day, you are the only one in charge of your investments.

Only you can click the buy and sell buttons.

Own the losses as much as you own the wins.

Rule number 1 is never lose money.

Rule number 2 is never forget rule number 1.

Good nugget of wisdom from old man Buffett.

Buy low, sell high, the easiest and apparently hardest thing to do in investing.

#crypto

All this means nothing if you do not have a Binance account to take advantage of this offer

Open your account at

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

As a beginner in Crypto Currencies and Forex Trading learn and master these random tips and use them to your advantage.