Trading is not a get rich quick scheme, so people should stop treating it that way🎯
Trading is a long term game that requires patience, persistence and discipline 🧠
I would say that the timeline to become a professional trader is seriously skewed. Many others have made this image for trading, that it can be mastered in a few months, or that it’s not that hard...📝
It’s all a load of crap. Trading takes time to master and requires exceptional discipline. Anyone who says trading is “easy” is working an angle of some kind. Do not believe that forex trading will make you rich quickly or that it will solve all your problems tomorrow🤦🏼♂️
It will make you rich, but in time. Patience is key. Don’t quit trading, keep pursuing it and it will all be worth it 🙌🏼
2 days ago
Fundamentals vs Technicals 🤔
Both are used to analyze the markets from a different perspective. Often you will see a trader adopt only one of these methods with little consideration for the other... this is a huge MISTAKE 🛑
Fundamental & Technical analysis are both strong methods for trade although a combination of both applied correctly make you unstoppable 🤯🚀
Lets take a closer look at what they both offer🙌🏼
- Use of news, events, & statements
- Long term approach (sentiment)
- A common method for amateur investors
- Use of charts, price action
- Typically a “short term” approach (days-weeks)
- Mostly used by Day Traders
As a trader, make use of both of these types of Analysis. It will greatly benefit your trading📈🎯
3 weeks ago
Bearish Candle Stick setups! 📉
These are the most popular candle stick setups for traders
I personally count each of these as 1 single confirmation
My favorite off the list is evening star & bearish engulfing 🙌🏼
Do you trade these setups?
I recommend trading these setups and going on your own chart to find some examples! Plot them out and see how price action reacted🎯
1 week ago
I would say the most important thing when learning to trade is to be open-minded 🧠
You will be presented with different styles, opinions, strategies and you have to learn from all of them. I became a good trader learning from everyone I come into contact with.
Forex is about adapting... always be learning, changing, becoming better 🎯
1 week ago
The Five Pillars of Forex Trading 📈
Technical Analysis: TA is at the core of the day trader and if applied correctly it can do wonders for market clarity.
Risk Strategy: Regardless of your skill in trading, without proper risk management you’re basically gambling at a casino. This is best thought of as defending your trading account.
Example: Would you risk a dollar for a dollar or risk a dollar to gain two dollars? 🤔
Trading Journal: The reinforcement! Trading journals are proven to be extremely beneficial to a trader. It is said that writing something down is equivalent to saying something 7 times 🤯 Journal reinforces a traders knowledge and helps them learn from past trades. Both wins & losses
Strong Mindset: A traders mindset... something that takes years to develop. The battle of the mind and emotion, a traders mindset is a complete override of emotion. To trade at a professional level you need to train yourself to trade with your mind and logic instead of how you feel 🙌🏼
Proven Strategy: Anyone can start trading. Placing buys and sells on the market with no plan or strategy. The chances of them becoming a professional is zero... a tested and proven strategy is what is needed to succeed so make sure to learn at least one early on from a mentor or real professional trader📝🎯
If you notice many expert traders have exceptional discipline and stick to their rules and methods. All of which stem from these pillars. Master individually and apply together🙌🏼 #forexleague#biglotenergy
1 month ago
Here are two great examples of an evening star (sell setup) and one incorrect example with low volume candles 📈
The trick to finding quality reversal patterns like this is to identify significant patterns like the “Very Good” option 🙌🏼 The stronger the pattern, the more significant, the better the potential trade🔥
I often will pass up “Good” examples and will wait for higher quality setups to enter on 🚀
3 weeks ago
The hammer pattern! 🔨
This is one of the most popular patterns to trade as it gives clear information as to what is happening. Let’s take a closer look and see what the market is telling us👁
We see a candle with a large wick at the end of a downtrend, this shows that price has reached a level where many buyers stepped into the market. This level could be a major support level, fib level, trend line etc. Either way price action has indicated a potential reversal.
Many traders will enter or exit on a hammer (aka pin bar) pattern as it often signals a reversal🎯
Pretty interesting right? Make sure to test it out on your own chart, look for examples and see how to market reacted📈
Have you traded a hammer pattern before?🤔
6 days ago
😂 Trading is often portrayed as easy to master...
This is definitely not the case. Although many traders over complicate trading it is by no means easy.
Trading is a discipline and must be respected... patience and time is the key to making it in this industry📝
There is no quick path to success📈
2 weeks ago
Most people don’t use their spare time to learn a new skill. Especially a skill that takes years to master 🧠
This needs to change, if you want to be successful you need to revaluate how you allocate your time 🚨#forexleague #biglotenergy