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Showing posts from February, 2023

To be successful than Most trader, read these 3 trading goals!

  Every trader has that one thing they always want more than anything else which is :  MAKING MONEY!  I mean who wouldn't?  The main reason of going into any business is for the main essence of making money! so yes, you cant fault any trader for wanting it for themselves, but with that mentality comes many downfall! There are steps to take before MAKING MONEY in any business. The major thing is like every other business is the PROCESS!!!  There are processes/hierarchy to everything in life and this would not be exempted! I shall share with  you the processes I wished I knew when I started the FINANCIAL MARKET BUSINESS 5years ago! Here are mine top 3 goals to follow accordingly: 1.Develop a money management plan: Your first goal must be long-term survival. 2. Cultivate a steady growth of your Capital. With a solid trading plan and a proper risk management in place it can be ACHIEVED, without you over trading or under tradin...

IF YOU WANT TO BE 5YEARS AHEAD OF MOST TRADERS, READ THIS:

 I remembered in my early years as a TRADER, Things was not as it is NOW! we were part of the people that kept struggling and struggling till i found the cheat code: 1. Forex trading is a business treat it as SUCH! 2. there is not magic formular. 3. PRICE ACTION IS KING 4. Stop wasting Money on so called GURUS! 5. The brokers are not your  FRIEND! 6. STOP LOSS, RISK MANAGEMENT AND MONEY MAMAGEMENT IS UNDER-RATED! 7. You will keep losing money if you treat FOREX as a get rich quick  scheme... 8. KNOW thy LEVERAGE, SLIPPAGE AND COMMISION 9. 3 things to do in the market: when to sell, when to buy and when to not do anything at all! 10.TREND IS YOUR FRIEND

ICHIMOKU CLOUD EXPLAINED!

 As a trader you would always lose money when you constantly trade against the big guns, MVPs, hedge Funds etc. You need to learn when and how to exit the market, often times a lot of retail/amateur traders gets excited with winning trades that they forget it doesn't rain always! Thats why I recommend the ICHIMOKU CLOUD! I'm sure you have heard or seen it all the time, but do you actually know how to use it or what it is used for?  let me break for you. The ICHIMOKU CLOUD helps you to identify when the HEDGE FUNDS, BROKERS and the BANKS are in the market! It helps to safeguard your money. Especially when traders get carried away, forgetting that it doesn't always rain profit in the market, there are times it becomes dry and harmattan! I mean, it's a win and loss business like every other business out there. All you need to do, is use appropriate risk management and money management! like I always tell my students and mentees, there 3 things you can do in the market: 1. ...

FOREX TECHNICAL ANALYSIS REVEALED!

 Several traders have argued against what they thought was the “negative thinking.”  of Losers Anonymous.  A retired woman from Texas, a highly successful trader, described her approach. She is very religious, prays every morning, and then drives to an office where she actively trades. Whenever the market starts moving against her, she cuts her losses very fast because it would not, please the Lord for her to lose His money.  I thought that our methods were similar. The goal is to cut losses due to some objective, external rule.   Trading within a businessman’s risk is like living without alcohol. A trader has to   admit that he is a loser, just as a drunk has to admit that he is an alcoholic. Then he   can begin his journey to recovery!   This is why every morning before trading I suggest saying: “Good morning, My   name is so-and-so, and I am a loser. I have it in me to do make serious progress to my account.”  This is l...

BEHAVIORAL PATTERN!

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The goal of a serious technical analyst is to discover the balance of power between bulls and bears and bet on the winning group.  If bulls are much stronger, you should buy and hold. If bears are much stronger, you should sell and sell short.  If both camps are about equal in strength, a wise trader stands aside. Do you ever stop to wonder where your expected profits will come from? Is there money in the markets because of higher company earnings, or lower interest rates, or a good soybean crop?  The only reason there is money in the markets is that other traders  put it there.  The money you want to make belongs to other people who have no intention of giving it to you. Trading means trying to take money from other people, while they are trying to take yours—that’s why it is such a hard business.  Winning is especially difficult because brokers and floor traders take money from winners and losers alike.

TRADING GOALS AND ITS IMPORTANCE!

A trading goal not written down is still only a thought. ACTION SPEAKS VOLUME ! Do you think writing down your Trading goals is essential to achieving them? I do. Because I have used it and know what it feels not to have a TRADING GOAL & how it works. I don't remember how it started, but it's something I do recommend for everyone. Here’s 5 reasons why: 1) It forces you to clarify what you want. knowing what currency to trade, and what Appropriate time to enter. 2) It will motivate you to take action at the right time. you know TIMING is KEY πŸ”‘ when trading. Having trading goals set is great, but taking action is the only way to achieve them. 3) It provides a filter for other opportunities. Set time for other things as well. The more successful you become, the more opportunities will present themselves.( READ AGAIN SLOWLY) 4) It will help you overcome resistance, OVER TRADING or under TRADING. Every time you strive to achieve a goal you’ll also encounter resistance. Focusing...

SIMPLE FINANCIAL KNOWLEDGE.

I teach Financial Literacy that no one will tell you, that has left a lot of people broke and penniless, some begin to wonder if its ill luck or the so-called village people! This is something a Simple financial knowledge/Literacy can correct! Before you Venture into trading, Make sure these things are sorted πŸ‘‡πŸΏπŸ‘‡πŸΏπŸ‘‡πŸΏ 1.Capital: to multiple your income or earning. 2. Savings: remember it will not be sunny the whole year, rainy days and harmattan days comes too. 3. Cash at hand: just in case of emergency, feeding and the likes. This safe guides you just incase the Market takes you out, you would know these things are secured so you avoid running helter-skelter. Now, Before you buy anything such as CARS, PHONES make sure you have these things sorted: 1. Make sure you have your rent for a year sorted. (if you don't live in your own home) 2. make sure You've your feeding money 6months advance. 3. Make sure you get Your Capital in place. Then you can Buy whatever you want to Buy...

FINANCIAL LITERACY IN TRADING!

As a trader I Always believe in slow & Steady wins The Race or the market will Anyways.  If you can't handle a $1000 account,Most definitely you wouldn't be Able to Manage a $10,000.  It's no brainer Actually, because that is where RISK AND MONEY MANAGEMENT COMES TO PLAN!  what I have realised is : most people try to change conditions and circumstances by working on conditions & circumstances.  That is a terrible waste of time and effort. trust me as a trader who has been there done that. So I'm in a better place to Share my experiences.  Most traders fail to see that their condition flow from a cause,you must remove the CAUSE.( FAMILY.  SURROUNDING, MENTAL INSTABILITY, STRESS & EMOTIONAL TURMOIL). that cause Is the way you use your conscious mind.The thought and image you encourage in it( whether losses or failure). start internally to change Everything.  it's all PSYCHOLOGY!  I'm rooting for YOU!