Welcoem to posts!!
in the future - u will be able to do some more stuff here,,,!! like pat catgirl- i mean um yeah... for now u can only see others's posts :c
The US stock markets (S&P, Nasdaq & Dow Jones) could be forming negative patterns which will trigger important sell signals later in the autumn, leading to significant declines over the winter.
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Everything changed when I stopped guessing direction & learned to trade support & resistance in the direction of the trend.
You can't guess the market direction correctly every day.
Low-Risk Trades:
- Trade with favorable risk-reward ratios, where the potential for profit outweighs the risk.
- Low-risk opportunities increase your chances of consistent profitability while minimizing potential losses.
Take Regular Small Amounts of Money Out of the Market:
- Be happy making frequent, smaller gains rather than relying on large, infrequent wins.
You Cannot Possibly Guess the Market Direction Correctly Every Day:
- Instead, focus on managing risk and adhering to your strategies.
Scalping vs. Swing Trading:
- Scalping involves making numerous quick trades.
- Aiming for multiple small profits from tiny price movements.
- Hold positions for seconds or minutes.
- Requires quick decision-making and execution.
- Demands constant attention and a high level of discipline.
- Swing traders hold positions for days or weeks.
- Seek larger price movements over an extended period.
- Use technical and fundamental analysis to identify trends and reversals.
- Fewer trades but with greater profit potential compared to scalpers.
Learn my trading psychology secrets in my FREE 5 day challenge!
Sign up now: bit.ly/3RtFyZZ
Join my free telegram group for analysis and signals.
t.me/daytradeideas
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Successful traders embrace the Process & Routine
They strictly follow their set of predefined rules and strategies consistently.
Here’s why this is beneficial:
1. Predictability: A systematic approach makes trading more predictable.
- develop a strategy & stick to it for consistent results.
2. Minimized Emotions: Routine trading reduces emotional influence.
- you'll never be consistent if you trade spontaneously.
3. Consistent Results: Following a proven plan leads to steady success.
- have a clear entry & exit strategy.
Embrace the routine and let consistency guide you.
Do you find that a methodical approach improves your trading?
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Core PCE, Personal Income & Personal Consumption Expenditures (PCE) Price Index are released on Friday.
Here's what to expect:
www.daytradeideas.co.uk/pce-personal-income/
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I was always trying to pick the top in a bull market & lost a lot of money!.
Painful losses taught me to trade in the direction of the trend!
Identify the Trend According to the Time Period You Trade:
- Different trading time frames, such as intraday, daily, or weekly, will have varying trends.
- Analyse the trend within the specific time frame you are trading.
- Identifying the correct trend helps you align your trades with the prevailing market direction.
Never Open a Position Against the Trend:
- Trading against the trend increases the likelihood of losses.
The Trend is Your Friend:
- This classic trading adage emphasises the importance of trading in the direction of the prevailing market trend.
- Trading with the trend leads to more consistent and profitable trades.
- It simplifies decision-making and helps you avoid counter-trend trades that are more likely to fail.
- Losing trades which are opened in the direction of the trend often tend to swing in to profit eventually.
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New interview! Lessons learned from institutional trading and life as a trader in the notorious open outcry pits.
We delve into Jason's trading strategy, approach to trend following and the key tools and techniques to find low risk trading opportunities.
Finally, we discuss the mental side of trading, how to preserve mental capital and tackle the psychological issues that traders are challenged with on a daily basis.
https://youtu.be/dRdRwYkKXTM?si=bVFvX...
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Is your trading strategy focused on improving performance or profits?
In my 40 years of trading I've learned to focus on performance not profits - 4 reasons why:
1. Discipline Over Dollars:
- Following your trading plan with discipline ensures the necessary consistency to build your account.
- Deviating from your rules, even if profitable, is poor performance & hurts you in the longer term.
2. Longevity in Trading:
- Sticking to your strategy helps you manage risks better.
Consistent performance builds your confidence and reduces your emotional trading.
3. Process Over Outcome:
- A well-followed plan is repeatable and measurable.
- With 100 trades recorded, you can start to optimise your strategy by reviewing the data.
- Profits are a byproduct of a solid trading process.
4. Risk Management:
- Performance-focused trading emphasises protecting your capital.
- Good performance often involves small, consistent gains rather than big, risky trades.
Remember, successful trading is a marathon, not a sprint. Stay disciplined, follow your plan, and let the profits take care of themselves.
Learn my trading psychology secrets in my FREE 5 day challenge!
Sign up now: bit.ly/3RtFyZZ
Join my free telegram group for analysis and signals.
t.me/daytradeideas
#TradingStrategy #PerformanceOverProfits #DisciplineInTrading #JasonSen #TradingSuccess
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Jason Sen explains his Forex trading strategy, focusing on key Yen pairs like GBPJPY, AUDJPY, CADJPY, EURJPY, and NZDJPY.
After identifying critical resistance levels, he successfully captured breakout opportunities, leading to profitable trades.
Jason also discusses his approach to trading the NASDAQ, highlighting key resistance at the 19,600 level and a plan for potential breakout trades.
#howtotrade #learntotrade #learntodaytrade #tradingstrategy #learntrading #tradeidea #daytradingtips #daytrading #tradeideas #Nasdaqanalysis #nasdaqdaytrade #nasdaqsignals #nasdaqstrategy #daytradenasdaq #tradenasdaq #nasdaqtradeidea
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This is one of many ways trading screws up your head!!
Having expectations as a day trader can be counterproductive:
1. Overconfidence and Bias:
- We expect a certain outcome & become overconfident, leading to biased decision-making. This can result in disregarding important signals that contradict our expectations.
- Example: You expect a stock to rise after a positive earnings report. Despite seeing signs of market resistance or a broader market downturn, you hold onto your position, ignoring warning signs.
2. Emotional Attachment:
- Expectations can create an emotional attachment to a trade, making it harder to exit a losing position or take profits when needed. You may become stubborn, refusing to acknowledge when you are wrong & holding on to positions for too long.
3. Lack of Flexibility:
- Rigid expectations can prevent you from adapting to changing market conditions which can lead to missed opportunities or unnecessary risks.
- Example: You expect a particular pattern (e.g., a breakout) but when the market doesn't behave as expected, you fail to adapt and continue trading based on your initial plan, which no longer aligns with market conditions.
4. Unrealistic Goals:
- Setting high expectations for returns can lead you to taking excessive risks, cause you to overtrade, chase losses, or enter trades without proper analysis.
- Example: You set an unrealistic goal of doubling your account in a month. So you start increasing position sizes and taking riskier trades.
5. Focus on Outcomes Over Process:
- Expectations can shift focus from the process of trading to the outcome. Successful trading involves following a well-thought-out plan and strategy rather than focusing on whether a single trade wins or loses.
- Example: You expect to make a profit on a particular trade and become overly focused on that outcome. This can cause you to deviate from your strategy, such as moving stop-loss orders in the wrong direction or ignoring exit signals, leading to poor trading discipline.
Learn my trading psychology secrets to maximise your profits in my FREE 5 day challenge!
Sign up now: bit.ly/3RtFyZZ
Join my free telegram group for analysis and signals.
t.me/daytradeideas
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Are you eager to day trade but you don’t know where to start?
I have almost 40 years of trading experience & I have written a FREE 5 day Forex Trading Course For Beginners:
Learn the mechanisms of the forex market, the tools and platforms used by traders, and the strategies that can lead to successful trading outcomes.
- Grasp the Basics
- Learn how the forex market works
- Master Currency Pairs
- Explore Trading Platforms
- Understand Analysis Methods
- Manage Risks Wisely
- Control Emotions
- Simulate Real Trading
- Develop a Trading Plan.
Plus you’ll receive special offers!!
Sign up now: daytradeideas.kartra.com/page/beginner
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Daytradeideas.co.uk
Jason Sen is a day trader, mentor, and technical analyst with a career spanning almost 40 years. He began in 1987 & traded his own account on the floor of the London International Financial Futures Exchange at the age of 19.
Get the tips that took me 35 years to learn for FREE: bit.ly/3RbBflO
For the last 20 years, Jason has also been practising technical analysis to study and understand the dynamics of financial markets. A respected figure in the trading industry, Jason's insights and signals are sought after by traders and investors. His extensive experience on the LIFFE trading floor, market making, and technical analysis give him a deep understanding of the financial markets and the factors that drive them.
Jason provides high-quality, reliable daily signals to help traders to make informed trading decisions & achieve their financial goals.
Join Telegram t.me/daytradeideas