Current analysis for EURUSD currency pair. Analysis is on the chart itself. Will see how it behaves next couple of weeks.
Current analysis for EURUSD currency pair. Analysis is on the chart itself. Will see how it behaves next couple of weeks.
Common advice is to share your goals with others so that it increases your accountability and commitment. Looks like recent research suggests that sharing your goals might have precisely the opposite effect. Instead of increasing the commitment, sharing appears to reduce it. Part of the reason seems to be publicly committing creates similar effect to fantasizing about reaching those goals and the illusion of progress when there was no progress.
More details: ”Why you should keep your goals secret“.
More details: ”Why you should keep your goals secret“.
Goals are dreams with deadlines.
Sooner or later market will convince a trader to have a trading plan. So no point for me to convince why having a trading plan is important. Following are two simple & practical trading plans one can use to construct/improve theirs.
Note: You might need a free account on CME to access the first plan.
He who fails to plan, plans to fail — Proverb
If you think about it, in trading we have disappointments everywhere. Disappointment for missing a great trade, for taking profits too soon, for tightening stop too fast, for slip of patience at critical time, performance not living up to expectations….the list goes on.
I wonder how many traders pay attention to this aspect and think about how well they manage disappointments?
IMO recognizing that disappointments in trading is a rule (not an exception) and being prepared for it will give a good edge in markets. At the very least the trader will spend a bit less time in negative emotional loop, more productive in making progress, better health, longer life and find the journey a bit more better.
I could not find any articles on this topic directly related to trading. Following is a good general article for ideas on how to manage disappointments. Feel free to share any techniques you found useful in your experience.
Link: managing disappointments
I wonder how many traders pay attention to this aspect and think about how well they manage disappointments?
IMO recognizing that disappointments in trading is a rule (not an exception) and being prepared for it will give a good edge in markets. At the very least the trader will spend a bit less time in negative emotional loop, more productive in making progress, better health, longer life and find the journey a bit more better.
I could not find any articles on this topic directly related to trading. Following is a good general article for ideas on how to manage disappointments. Feel free to share any techniques you found useful in your experience.
Link: managing disappointments
The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way … Unknown
I think best indicator for a trader is the one he/she stays with it for next few years. I think staying with an indicator long enough to start seeing market through it is more important then indicator itself.
I believe Indicators should be for assistance and not for guidance. It can be of assistance only when one have reasonable idea of how indicator responds to price movement.
One good exercise for learning a favorite indicator is to look at price chart and draw indicator plot by hand. Then compare it with computer generated indicator plot. Observe the differences. What matters is not the absolute values but more of noticing how the hand drawn graph and indicator generated plot differ.
Learning will be unique to us and will be much better than 90% of information (mostly useless) available on the net for that indicator. Once one can consistently draw close enough to computer generated plot, I think the real and much longer journey of how to use it for profitable outcomes begins.
The above is just my opinion. I don’t believe there is one right way. Feel free to share what worked for you to improve understanding of your favorite indicator.
I believe Indicators should be for assistance and not for guidance. It can be of assistance only when one have reasonable idea of how indicator responds to price movement.
One good exercise for learning a favorite indicator is to look at price chart and draw indicator plot by hand. Then compare it with computer generated indicator plot. Observe the differences. What matters is not the absolute values but more of noticing how the hand drawn graph and indicator generated plot differ.
Learning will be unique to us and will be much better than 90% of information (mostly useless) available on the net for that indicator. Once one can consistently draw close enough to computer generated plot, I think the real and much longer journey of how to use it for profitable outcomes begins.
The above is just my opinion. I don’t believe there is one right way. Feel free to share what worked for you to improve understanding of your favorite indicator.
It’s what you learn after you know it all that counts. – Truman
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