How to Draw Fibonacci Retracement: A Step-by-Step Guide for Traders
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👍51❤7
Never trust anything. Always verify everything.
Especially in trading.
Especially in trading.
👍123❤21🔥13
How To Set Take Profit Orders (The Essential Guide)
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👍32❤3🔥3
The Parabolic Stock Trading Strategy Guide
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👍33❤2🔥1
In business:
You need capital.
You have expenses to cover.
You don't expect to succeed from day one.
You need some time before you make a profit.
Trading is a business—so treat it as one.
You need capital.
You have expenses to cover.
You don't expect to succeed from day one.
You need some time before you make a profit.
Trading is a business—so treat it as one.
👍164❤37🔥7🤣7👎1
The Complete Guide To Trading Sideways Markets
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❤24👍9
[Make it painful to not follow your trading plan]
Here’s the thing:
Just because you have a trading plan doesn’t mean you won’t have itchy fingers.
Because you might lack the discipline to follow your trading plan even though it’s good for you.
(Kind of like how you don’t eat enough vegetables even though you know it’s good for you.)
The solution?
Be accountable to someone. It could be your spouse, a friend, or someone you trust.
Let them know whenever you deviate from your trading plan, you’ll be penalized.
The penalty could be something like:
—$50 donation to your favourite charity
—Wash the toilets for a week
—Do 100 push-ups
You want to make sure the pain of not following your trading plan is greater than following it.
This way, the mind gravitates toward the least amount of pain which is to follow your trading plan.
This means your actions become consistent and you get consistent results.
Here’s the thing:
Just because you have a trading plan doesn’t mean you won’t have itchy fingers.
Because you might lack the discipline to follow your trading plan even though it’s good for you.
(Kind of like how you don’t eat enough vegetables even though you know it’s good for you.)
The solution?
Be accountable to someone. It could be your spouse, a friend, or someone you trust.
Let them know whenever you deviate from your trading plan, you’ll be penalized.
The penalty could be something like:
—$50 donation to your favourite charity
—Wash the toilets for a week
—Do 100 push-ups
You want to make sure the pain of not following your trading plan is greater than following it.
This way, the mind gravitates toward the least amount of pain which is to follow your trading plan.
This means your actions become consistent and you get consistent results.
👍100❤30🤣13🔥6
The Ultimate Divergence Cheatsheet
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👍34❤9
The Definitive Guide To Heiken Ashi Candles
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👍21❤4
[Don’t trade based on other people’s opinions]
Today…
There’s a ton of information on Twitter, Facebook, trading forums, etc.
The problem is…
It doesn’t make you a better trade, far from it.
Here’s an example. Imagine…
Someone posts a chart on Tesla and explains why he is bullish on it.
Next, there are 100 thumbs up and a flood of comments agreeing with the analysis.
So you quickly buy the stock of Tesla hoping to make a quick profit out of it.
Now here comes the critical part…
What if the price of Tesla drops 30%?
Do you sell, hold, or buy even more?
You don’t know because you’re trading based on the opinion of someone else.
You might be wondering:
“Well, I’ll just ask the original poster for an update on Tesla.”
Then one of these will likely happen…
—He sold his position for a small profit and you didn’t know about it
—He sold his position for a small loss but you’re still holding the stock
—He doesn’t reply to you
Either way, you’re on the losing end.
Do you see what I mean?
So, never trade based on the opinions of others.
They won’t tell you how long they plan to hold the trade, when to cut loss, or when to take profit.
Instead, you must have your own trading system that tells you when exactly to buy or sell. This way, you’ll never be at the mercy of others again.
Today…
There’s a ton of information on Twitter, Facebook, trading forums, etc.
The problem is…
It doesn’t make you a better trade, far from it.
Here’s an example. Imagine…
Someone posts a chart on Tesla and explains why he is bullish on it.
Next, there are 100 thumbs up and a flood of comments agreeing with the analysis.
So you quickly buy the stock of Tesla hoping to make a quick profit out of it.
Now here comes the critical part…
What if the price of Tesla drops 30%?
Do you sell, hold, or buy even more?
You don’t know because you’re trading based on the opinion of someone else.
You might be wondering:
“Well, I’ll just ask the original poster for an update on Tesla.”
Then one of these will likely happen…
—He sold his position for a small profit and you didn’t know about it
—He sold his position for a small loss but you’re still holding the stock
—He doesn’t reply to you
Either way, you’re on the losing end.
Do you see what I mean?
So, never trade based on the opinions of others.
They won’t tell you how long they plan to hold the trade, when to cut loss, or when to take profit.
Instead, you must have your own trading system that tells you when exactly to buy or sell. This way, you’ll never be at the mercy of others again.
👍107❤22🔥17
How To Catch A Falling Knife (The Essential Guide)
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👍39❤8🔥3
Discover 19 Powerful Lessons from the Legend, Jesse Livermore
Learn More 👉 https://www.tradingwithrayner.com/jesse-livermore-quotes/
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🔥20❤12👍12
How to reduce your fear of trading:
–Don’t go all in
–Manage your risks
–Reduce your position size
–Trade with a strategy that offers an edge
–Not more than 50% of your wealth in the markets
–Don’t go all in
–Manage your risks
–Reduce your position size
–Trade with a strategy that offers an edge
–Not more than 50% of your wealth in the markets
❤99👍40🔥5
How To Trade Different Types Of Trend Lines (Ultimate Guide)
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👍36❤14
[The financial markets are rigged, but…]
Yes, the financial markets are rigged against you.
Those with deep pockets can “temporarily” move the market to trigger stop losses and options expiry levels.
So the way I see it, you have 2 choices.
You can blame the system but it won’t get you anywhere besides more losses and frustrations.
Or, you can learn how the game is played and profit from it.
The choice is yours.
Yes, the financial markets are rigged against you.
Those with deep pockets can “temporarily” move the market to trigger stop losses and options expiry levels.
So the way I see it, you have 2 choices.
You can blame the system but it won’t get you anywhere besides more losses and frustrations.
Or, you can learn how the game is played and profit from it.
The choice is yours.
👍120❤40🔥7
The Ultimate Guide to Trade Simulator
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👍28❤11
Trading is the best game in the world.
Millions of players.
No discrimination.
No table limits.
Insane money.
Insane losses.
24 hours.
Good luck!
Millions of players.
No discrimination.
No table limits.
Insane money.
Insane losses.
24 hours.
Good luck!
👍148🤣45❤30🔥9
How To Setup Your MT4 Trading Platform Like A Pro
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👍27❤1
[Don’t tell anyone that you’re a trader yet]
You’re wondering:
“Why can’t I tell others that I’m a trader?”
Well, if you’re a consistently profitable trader, then go ahead. There’s no issue with it.
If you’re not, then it’s best to keep quiet about it.
That’s because when you tell your friend that you’re a trader, the first question you’ll get is…
“Have you made money from trading?”
Your answer is probably no.
And you won’t feel good about it as you’re reminded of your losses and how incompetent you are.
The next time you meet up with your friend again, guess what’s the first question he’ll ask you?
“Have you made money from trading?”
Again, your answer is no and you’ll feel horrible about it.
Now when you meet your friend the next time, guess what’s one question he’ll ask you?
You get my point.
So to avoid this “trauma”, don’t tell anyone about your trading endeavor—not even your family.
You’re wondering:
“Why can’t I tell others that I’m a trader?”
Well, if you’re a consistently profitable trader, then go ahead. There’s no issue with it.
If you’re not, then it’s best to keep quiet about it.
That’s because when you tell your friend that you’re a trader, the first question you’ll get is…
“Have you made money from trading?”
Your answer is probably no.
And you won’t feel good about it as you’re reminded of your losses and how incompetent you are.
The next time you meet up with your friend again, guess what’s the first question he’ll ask you?
“Have you made money from trading?”
Again, your answer is no and you’ll feel horrible about it.
Now when you meet your friend the next time, guess what’s one question he’ll ask you?
You get my point.
So to avoid this “trauma”, don’t tell anyone about your trading endeavor—not even your family.
👍146❤36🤣18🔥3