Success starts with the mindset - You can do it !

GU

London Closed.

Price may creep up for liquidity during Asia Session.

No trade at this hour, only analyse.

Weekly POI still way down.

If price fail to break H1 Fresh demand zone, we may see it will move up during London until NY session for liquidity grab.

great， long time no see.

GU

It was creeping up during Asia Session,

May see some pull back at London before continue up for liquidity zone.



CHoCH and OB

GU

Long

GJ



Discount for going long

[email protected]？

GJ

Stopped Out on the earlier position.

Re-entry

Add position at RSF zone.

SL just below flip.

HIT the SL

Follow sifu!

Successful learning ends up making a trader successful. The first step of being successful is to develop one’s mindset because Forex-friendly mindset helps a trader derive enough profit from the market. I never suggest any paid course for learning rather only learning sources are available for free.

Hey PAT
This argument as you said is fundamental in trading.
Perhaps it is one of the most important aspects to take into consideration.
Think sports champions. Each of them, in addition to having a person who trains his body, also has a person who trains his mind.
This topic is so important that it cannot and must not be trivialized.
But what we need to understand is that it is much easier to teach forex patterns than the human mind.
I therefore believe that authoritative interventions or examples are needed.
For example, the intervention of Dr. Steenbarger FOMO that you know very well is fundamental.
Other authoritative interventions like this one and that take other elements into consideration would be interesting.
Fuck!!. Everyone sees a supply and demand zone or a S / R but because there are so many people who don't make money in trading.
This is the main question we need to ask and answer.
A great task but the most important.
Happy to read you bye
P.S.
Do not forget that you are a guinea pig or the result of a process that led a person to be a winner in trading.

GOLD

N3 on QM

Mindset is the tool that will build our defense in the market. We have to keep forward looking to make some profit but only with the mindset. Psychology is more more important, because as a human fear will always be in there but once you get your mindset stable with the right risk management, i think anyone can stick longer in the market.

In the market we don't decide how much can we make, but how much money we could lose if anything goes against our favour.
i think it is important to work on market psychology before playing in the market.

GOLD

Recovery trade.

Was bad entry for yesterday trade,

Well, tbh both can be a problem and both are essentials for the success.

GOLD


Adjusting Stop.

Take some position out for pull back

TRADER POSITIVE MINDSET


The GOLD trade above was in drawdown before the FOMC Statement and Federal Funds Rate.

How one trader manage to have manage this trade with drawdown and change strategy to suit the trading condition.

In nut shell, If you have a drawdown, you'll should adjust your strategy and work it patiently to recoup your losses.
Try avoid too large of a drawdown by utilizing stop-losses and avoiding emotional trades.

What We Can Learn From a Drawdown ?

Drawdowns also describe the likely survivability of your system over the long run.
A large drawdown puts an investor in an untenable position.

As you can imagine, when a trader suffers a drawdown, they are best served by implementing good risk-management procedures and readjusting their system instead of trying to trade their way back to the break-even point aggressively.

Typically, a trader's aggressive approach to get their capital back and break even will have the opposite result.
Why?
They will most likely become emotional, using leverage and over-trading to get their trading account back to where it was.


Some Thoughts on trading mindset.

One of the most important and valuable tips you'll hear is to set a stop-loss or stop-market order for every trade before entering.
That will limit the amount of any drawdown you will take.

Avoid making trading decisions based on emotion. Instead, focus on a strategy based on managing risk by exiting trades early enough to minimize your losses.

Once you take these steps, you'll be able to stand back after you've entered a trade, knowing that you're out of it with no questions asked when and if your stop-loss level is hit.

Many traders make the mistake of trying to stay in a losing trade, hoping for a change.

This is a mistake because you'll be making your trading decisions based on emotion instead of strategy.
By staying in a losing position, you're doing the least painful thing you can do.

However, it's not necessarily more beneficial down the road.


Recommended reading:
What I Learned Losing a Million Dollars, by Jim Paul and Brendan Moynihan, offers some excellent insight if you'd like to read a book that describes the emotional toll of drawdowns.

The book also shares several tips on overcoming some common pitfalls in trading, such as implementing a trading plan that is likely to be emotionally driven instead of risk management-driven.





PAT