Ethereum Price Update
1. We consolidated around range lows after making a new ATH
2. We broke out above a key resistance level which held us within the consolidation
3. Found resistance again over head
4. We broke down through our resistance and came back for a bearish underside retest confirming the rejection
5. We're not at the key S/R level which was acting as resistance when we were stuck in the consolidation, we'd be looking to see if this level with volume confirmation can turn to support
Even if your trading strategy is highly accurate, like 70%, you'll still make 5-6 back to back losses during your trading Journey. It's just math. It happens.
When this happens, don't doubt your system. Log off. Back test your system randomly, and slow down the trading frequency and gather yourself.
Those who Doubt Themselves during the worst, lose.
However your strategy should have been high hitting to begin with.
Literally 99% of you will become a better trader if you promised yourself to take the loss when it occurs.
Your trade turned into a loser? Take the loss, stick to your system and move on.
Instead, all of you start praying, begging the Gods to make your losing trade into a breakeven or a winning trade.
Even some influencers in 2022 peddled this nonsense of holding till infinity until they breakeven.
How you react to a loss describes your trading Career and growth. Not being able to cut a loss leaves you with no career.
When I promise to share all my live trades, 10000 of you get excited.
When I actually share it, hardly 10 of you bother to read the Setups.
I promised to go all out from tomorrow and share all the trades
But I promise if all of you don't give your 100% in reading the trades, I will be one unhappy individual.
Recovered almost fully from the illness.
Finally feel alive. Still have extreme brain fog but I am happy and excited about sharing Dozens of trading Setups and trades next week.
Only way to become stronger is to have a plan and my plan is to push myself to share more trades here. No fluff. Just charts and simple explanation.
What do you think?
Phrases course sellers who don't trade keep repeating.
1. It's all about the mindset.
2. Trading is easy. Controlling the emotion is hard.
3. It's all about mental clarity.
4. Meditation is the exercise of trading.
While all this is true, you need a real system, data and edge.
Influencers use above psychological Tweets to get your attention.
I need you to do 3 things for me.
1. Comment below with your struggles and question about trading or investment and what do you want to learn.
2. If you see a comment by a different account, which also describes your struggle, then like it so I know which is the most comment problem.
3. Share this Post so all new traders can ask questions and benefit.
Story time for new Traders.
When I first joined CT seven years ago, every micro influencer pushed their follower to be a great trader, to leave everything and just take up trading. Don't get a job or degree, just do trading. It's easy.
I posted that trading is extremely difficult and not everyone can do it.
This made a group of ladies mad and I was attacked non stop. I was a pretty small account back then.
Two years later, all those ladies lost everything, their followers lost everything and when they couldn't make money via paid Tweets, they are nowhere to be found. They left.
So trading indeed is pretty much the hardest, most misunderstood professions.
Moral, speak the truth. What's hard is hard. Knowing the difficulty leads to better preparation.
Sad News is that I Post my Best trading Setups and Discuss it in Detail, every other day on Youtube.
You can use this to find your trading zones and profit levels. Only trading talk. Targets and buy zone.
Link to the Youtube channel in my twitter profile description. I can't post links here because Twitter Bans it.
Please share and spread the word so beginners can benefit from it.
In 2020 I was trading on Kucoin and wanted to buy one shitcoin project but not at market price as it'll give me a bad entry and pump the price up.
So I set a limit order stack at a bit lower price and immediately got filled. Immediately.
I then realised I had been scammed. The project MM was constantly looking for real limit Orders and sell all he could.
The amount of fear that suddenly entered my vein can't be described.
My first mentor whom I found told me that all traders will become more profitable if they cut their losses whenever they start to hope for a good exit or for the price to come back at least to their entry.
This is the phase you want to avoid by treating trading as a boring business.
Have an exit? Then exit. Don't pray.
If you're in trouble, run back home. Don't pray to God to be nice to you. He gave you legs to run. Pray at the church, not when you're in trouble.
99% of you need to stop thinking about profits and get relaxed about not catching the 100x coins.
You all look at the influencers who keep reminding you of their wealth and feel miserable.
A consistent man who goes to the gym daily and does the most basic exercise gets better health than the one guy reading new research everyday.
Stop doing the 'exciting' things, you're not a victoria secret malnourished model.
Do the basic thing about being an active market participant, being boring trader who keeps finding levels of interests, writing down the levels he'll buy and why he'll buy.
Repeat this a 1000 times.
Focus on strict capital reservation by knowing where you'll exit, always knowing your exit.
Also, ignore any sadness you receive after seeing people share their big profits, they'll lose it anyway.
Bitcoin Price Update
1. One funny things happened here.
After moving from range highs (New ATH) we had textbook bearish orderflow back to range lows (longs on leverage bought and spot was selling). Then we found support and bounced after a SFP of the low into our Key S/R Zone (Previous Range High = $112K)
SFP = Swing Failure Pattern.
2. We bounced back, with some help if bullish news, towards our next Key S/R Zone which has been crucial throughout this whole range. Upon return we had a bearish underside retest and dropped back under our range low with our key S/R zone at 112k and tagging the nPOC.
nPOC = Naked Point of Control.
3. Currently pushing back up, and ideally would like to see a similar situation as in 1.
SFP of low into another confluence zone (nPOC + Key S/R zone)
If we continue to push here with some volume we may find ourselves range bound between $112k-$115k while alts are making runs.
4. If we reject here and range low starts acting as resistance, next level to watch for me would be the nPOC $108k.
I feel sad when I see young people spending time on 100 different issues.
Celebrity Gossip, political drama, pop culture.
If your family isn't financially secured, if your parents aren't financially retired and if all of your cousins aren't happy, stop all distraction and work on yourself to get the resources to stop the financial misery of your family.
Then move into other stuff like caring about neighbours, your city and country.
5 Golden Steps you can't avoid when becoming a new Trader.
This is what I tell all my trading interns without fail.
1. Make the exchange your obedient Pet. Get a solid understanding of all the Trading tools. Understand every order type, understand the exchange. Understand how every button on the exchange works. You should make the Trading UI and system your obedient pet. Good doggy exchange.
2. Get Clear indepth understanding of most indicators and how they work. You should be able to use them as statistics. You should understand what and how everything om the indicator is roughly made and what it shows.
Yes EMA is one line but what does it actually show?
3. Once you've enough understanding, find out the style of trading that'll work for you, Scalping, swing, macro. This depends on your lifestyle, health and Job. You can't have ADHD at extreme levels and expect to be a Passive investor. Make your lifestyle important, then choose the Trading style.
4. Make a trading system. Backtest it. Then test it live for 1000 trades on 10 different assets with a small Capital. Use 100 dollars or whatever you can afford as tuition fee to rest your understanding in the real world.
5. Once you've done this well enough, immediately get a trading friend or a trading partner. This is most important. Do it Immediately. They will prevent you from making emotional decisions.
I wake up everyday amazed and confused my the fact that I am friends with almost half million people on the internet.
I don't understand how or why this happened but this seems like a big deal to me, someone with average intelligence and very little social skills. Thanks for all the love.
Enough of cringe. Back to trading.
Bitcoin Price Update
1. We initially bounced at $112k which was our previous range high and Key S/R Zone
2. We then went on to move from range extreme to range extreme and took out our range high with a SFP creating a new ATH in the process
3. The SFP of the high brought bearish orderflow with the micro structure being curated with LH & LL
4. We've now just taken out the low we created at the start of the month into our key S/R Zone and have had a bullish reaction with volume.
5. We're at our Key S/R Zone which has been quite influential, flipping it back to support would be a greenlight back to range highs.
6. Although may be unlikely now, we may see a rejection of this zone, with it continuing to act as resistance after a bearish underside retest recently.
7. If the scenario above unfolds, it's not all doom and gloom as this move up as created some zones which may act as support upon return.
