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Swing trading = 100% patience
Scalping = 100% focus + fast execution
Day trading is in the middle.
Build your skills.
Build your success.
GOOD MORNING TRADERS!
Itās yet another day filled with possibilities and opportunities to be great men and women of substance.
Letās be strategic, be purposeful, be focused and most importantly, Letās live a life of purposeš
WISHING YOU A LOVELY DAY AHEAD šš¼
GBPCAD SELL STOP @1.71330
SL @1.71950
TP @1.70950
Apply Proper Money Management Plan
CHOOSE WISELY
If you want a consistency approach to trading then you have to choose wisely. Majority of retail traders are seeking for a system or strategy that can make them rich quickly and sadly these set of traders only end up with an account blowing mindset.
Do you know, we have 90% of traders who lose money in the financial market and by now you would know the category where they fall in. The remaining 10% of successful traders, they're simply doing the opposite of what the others are doing.
Gained Something, do like the post š¤ā¤ļø
HAPPY NEW TRADING WEEK GUYS AND HAPPY SUNDAY
Trust you all had a wonderful weekend with your loved ones ā¤
Wishing you a fantastic week ahead, my fellow traders! I hope you stay happy, healthy and achieve great things.
Sunday Blessings To You All ā¤ļø!
BEGINNERS vs PROFESSIONAL
In this context, we talk about trading journal and how it is important to a traders success but it is quite funny how may traders neglect this aspect of trading. We learn a lot more from our losses or mistakes than our Winnings, so for a trader looking to improve his skill, then trading journal would be a good option as this will help you know where you need to improve on or what exactly that was done wrongly which resulted in loss or what you did correctly that resulted in profits.
YourĀ trade journalĀ is a log of all trading activity. And you need a third part app or software to perform this operation.
BEST WAYS TO ENTER THE MARKET
The best approach to entries in the market is waiting for pullbacks or retest. Some traders are found chasing candles which is totally wrong, trading is 10% BUYING, 10% SELLING and 80% WAITING which means when you found an opportunity you wait patiently for pullbacks and other confirmation before entries.
Was this video helpful do like the post š¤ā¤ļø
WEEKLY TO DO LIST:
- Study price action
- Review past trades
- Review trading systems
- Plan trades for the next week
Never stop improving yourself.
PULLBACK STRATEGY
The pullbacks in the financial market are very powerful as when a trader understands how it forms, it can create a consistent profitability for a trader.
But first, we need to understand the direction if the overall market and market out our HIGHS and LOWS. Market are made up of Impulses and Pullbacks, a professional trader is one who's able to identify when a pullback is losing its strengths giving room for the next impulsive move to begin.
Selling
CADCHF SELL @0.66550
SL @0.67100
TP @0.66100
Apply risky Management š
DIFFERENT TYPES OF ORDER TYPES IN FOREX
Forex order is an order that is sent using your brokerās trading platform to open or close a transaction. Traders can place an order using popular trading platforms like MT4, MT5, TradingView etc.
ORDERS FALL INTO TWO CATEGORIES:
MARKET ORDER: This is an order which is instantly executed against a price that your broker has provided.
PENDING ORDER:Ā This is an order which needs to be executed at a later time at the price you specify. Like [ Buy Stop, Buy Limit : Sell Stop, Sell Limit ]
IF YOU WANT TO BE A SUCCESSFUL TRADER,
Ask yourself:
- What are my entry rules?
- What are my exit rules?
- What are my best pairs/markets?
- What are my best days to trade?
- What are my best hours to trade?
- What is my risk per trade?
- What is my reward per trade?
- What is my monthly goal?
- What is my quarterly goal?
- What is my yearly goal?
- What are my mistakes?
- Why do I make mistakes?
- How can I correct mistakes?
...
Control what you can control.
Forget anything else.
Win.
STOP UNDERESTIMATING YOUR DAILY EFFORTS.
$500 per month today can become $5,000 per month in 365 days.
5 years of hard work can compound your years of freedom.
TRADING IS LIFE-CHANGING.
GOOD MORNING TRADERS!
Itās yet another day filled with possibilities and opportunities to be great men and women of substance.
Letās be strategic, be purposeful, be focused and most importantly, Letās live a life of purposeš
WISHING YOU A LOVELY DAY AHEAD šš¼
WHAT IS SCALPING
There are different kinds of traders and scalping is just one of it, other kinds are day trading, swing trading and position trading. Becoming a professional trader, you need to know which of this style of trading best suits your personality.
Scalping involvesĀ trading currencies with only a brief holding time, and executing multiple trades each day. Forex scalpers keep risk small in an attempt to capture small price movements for a profit. The small price movements can become significant amounts of money with leverage and large position sizes.
So scalper use a very i lots size and they target small move in the market usually range from 10pips profits move to 20pips move.
HOW TO 10X YOUR TRADING:
1) EXECUTE
- Take 5 trades
- Follow your system
- Never break rules
2) REFLECT
- Analyse your 5 trades
- Track mistakes, decisions, emotions while you trade.
- Reflect on what you learn.
3) IMPROVE
- Correct mistakes
- Adjust edges/system
- Improve execution
Trade. Track mistakes. Learn. Repeat.
90% of traders will never learn from mistakes.
Lazy traders are not successful traders.
Hi Lovely Traders.
Happy Eid al-Fitr to all our Muslims friends on this trading community and across the world. May this season brings you peace, blessings, and genuine happiness.
GOOD MORNING TRADERS!
Itās yet another day filled with possibilities and opportunities to be great men and women of substance.
Letās be strategic, be purposeful, be focused and most importantly, Letās live a life of purposeš
WISHING YOU A LOVELY DAY AHEAD šš¼
