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Success starts with the mindset - You can do it !

  • #61
  • May 6, 2022 4:54am May 6, 2022 4:54am
Quoting Pat Chiko
Prepare your mind. Here is your roadmap on what to buy and sell, if you think we are headed for stagflation soon {image} In comparison to Asset Class Returns of Stagfalation in '70s {image}
Since exports have been reducing globally as several countries are stocking up food amid KSA moved away from petro dollar, amid russia ukrain war eventually less dollar transactions, on top china disrupting supply chain using the locked down on the face.

Dollar world order is on stake,

US will make every thing to fall just to keep up the dollar bubble. it's WAR !!!

only assets having value in use will sustain i.e., land, property, farms, wheat, sugar, oil, commodities and even gold (how much gold one can hold in bank, even lockers are insured upto a small amount if some thing happen to bank).
"Exchange of hands"
  • #62
  • May 6, 2022 5:02am May 6, 2022 5:02am
Quoting Pat Chiko
{quote} GJ Adding position as price making HH. {image}
GJ

Closed all position.

Re-evaluate the position.

May want to short at NYO
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #63
  • May 6, 2022 5:05am May 6, 2022 5:05am
Quoting bilal1947
{quote} Since exports have been reducing globally as several countries are stocking up food amid KSA moved away from petro dollar, amid russia ukrain war eventually less dollar transactions, on top china disrupting supply chain using the locked down on the face. Dollar world order is on stake, US will make every thing to fall just to keep up the dollar bubble. it's WAR !!! only assets having value in use will sustain i.e., land, property, farms, wheat, sugar, oil, commodities and even gold (how much gold one can hold in bank, even lockers are insured...

BTW ,

Didn't you see the new USD 1 dollar bill printed.

Nice design.

Here it is,

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #64
  • May 6, 2022 5:09am May 6, 2022 5:09am
Quoting Pat Chiko
{quote} BTW , Didn't you see the new USD 1 dollar bill printed. Nice design. Here it is, {image}
Yep not only missed the sky rocketing inflation but also increasing the rates will result in to foreclosures and seizure of assets .... empty grocery shelves ... Chaos !

they will make 1$ equals = 1 GBP = 1 Euro, who knows ....
"Exchange of hands"
  • #65
  • May 6, 2022 5:37am May 6, 2022 5:37am
GBP USD

and

GBP JPY

going short with this set up during NFP later
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #66
  • May 6, 2022 7:24am May 6, 2022 7:24am
Quoting Pat Chiko
GBP USD and GBP JPY going short with this set up during NFP later {image}{image} {image}
GU GJ

Gimme one spike !

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #67
  • May 6, 2022 8:01am May 6, 2022 8:01am
Quoting Pat Chiko
{quote} GU GJ Gimme one spike ! {image}{image}
GJ stays stubborn today
"Exchange of hands"
  • #68
  • May 6, 2022 3:59pm May 6, 2022 3:59pm
Quoting Pat Chiko
{quote} GU GJ Gimme one spike ! {image}{image}
GU and GJ

Non event for NFP day.

Closed all position for the weekends.

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #69
  • May 7, 2022 2:50pm May 7, 2022 2:50pm
A cognitive bias


Cognitive biases or fallacies can influence one’s decision making which can lead to unwanted consequences.

Financial Market players are highly prone to cognitive biases more than other professionals because money is something everyone is emotionally attached to.

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A cognitive bias is a mistake in reasoning, evaluating, remembering, or other cognitive process, often occurring as a result of holding onto one’s preferences and beliefs regardless of contrary information.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #70
  • May 7, 2022 2:57pm May 7, 2022 2:57pm
Quoting Pat Chiko
A cognitive bias .

Bandwagon Bias

Bandwagon bias is a form of group thinking.

It’s a cognitive bias that makes us believe something is true or false because other people believe in it.
Individuals will do something primarily because other people are doing it, regardless of their own beliefs, which they will ignore or override.

In Trading, Bandwagon effect takes multiple forms!

Say for example, if a Friend from a particular group buys a specific forex pairs and gets some monetary gains, sooner or later everyone from that group buys the same pairs without any proper reason.

Traders looking for tips and recommendations are an example of Bandwagon bias.

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Always keep in mind; something is not true simply because everyone seems to say so.
Never read or listen to market commentaries or news when you trade.
Only use them in your research process.

Think for yourself and trade by yourself.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #71
  • May 7, 2022 3:19pm May 7, 2022 3:19pm
Quoting Pat Chiko
A cognitive bias.

Loss Aversion Bias

We don’t like to lose things that we own.
We tend to become extremely attracted to objects in our possession, and feel anxious to give them up.
Of course, when that object turns out to be money our emotional attachment is twice than normal!

In Lose aversion, Losses hurt about twice as much as gains that makes you feel good.

Many Traders tend to dislike losing more than they enjoy winning.
Instead of calculating risk in proportionate to Reward, they only look at the size of risk.

In trading or Investing, Risk – Reward are the two sides of same coin.
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Instead of understanding this, they end overestimating the risk and avoid taking any reasonable actions.
Market players with loss aversion bias feel more discomfort from potential losses in comparison with identical gains.

Mostly two and half times strong discomfort from losses.
It can lead to inaction rather than action.

The best way to overcome loss aversion bias is to change the Mindset.

Accept that losses are inevitable part of the game; it’s the cost of being in Trading business.
Do not get discouraged by the size of stop-loss, instead compare both stop-loss and reward potential of a trade.

Prepare a trading plan before you get into a trade and give trades some space to move and don’t set your stop losses too tight.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #72
  • May 9, 2022 6:36am May 9, 2022 6:36am
Quoting Pat Chiko
{quote} ... instead compare both stop-loss and reward potential of a trade...
I had issues with skipping trades, to get over it I had to realize that if I skip a trade that turns out to be a winner, it was the same as taking multiple losses.

I.E. If I didn't take the trade and it runs for 3:1, by skipping that trade it was the same as taking 3 losses.
  • #73
  • May 11, 2022 6:47pm May 11, 2022 6:47pm
For a lot of people, their monthly income is there to be spent on bills, necessities and luxuries.
It’s not always invested.

I’m not talking about putting it into any type of fixed deposit, stocks or anything.

I’m talking about investing some of that money in yourself.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #74
  • May 11, 2022 7:40pm May 11, 2022 7:40pm

Leave footprints of love and kindness wherever you go.

I come from the future.
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  • #75
  • May 13, 2022 9:10pm May 13, 2022 9:10pm

Trading runs in cycles; some are good, some are bad,

and there is nothing we can do about that other than accept it and act accordingly.



The academics will never understand this, but those of us who trade for a living know that there are times when every trade we make (even the errors) is profitable and there is nothing we can do to change that.

Conversely, there are times that no matter what we do--no matter how wise and considered are our insights; no matter how sophisticated our analysis--our trades will surrender nothing other than losses.

Thus, when things are going well, trade often, trade large, and try to maximize the good fortune that is being bestowed upon you.

However, when trading poorly, trade infrequently, trade very small, and continue to get steadily smaller until the winds have changed and the trading "gods" have chosen to smile upon you once again.

The latter usually happens when we begin following the rules of trading again.

Funny how that happens!

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #76
  • May 15, 2022 9:17am May 15, 2022 9:17am
just for disscussion.
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  • #77
  • May 15, 2022 9:44pm May 15, 2022 9:44pm
GU

Wait for Price to RT fresh demand zone at LO

However, how do we determine the strength of these areas?
Also, how do we determine when supply or demand has been consumed intentionally by brokers or retail in order to break through with ease?

I’m currently watching PA to see the “reaction” at supply or demand levels to help me see the strength of those areas but I’m not sure if I see the right signs.

For example, if there is a pair is range bound on a 4HR time frame, it may takes days to move from the top to the bottom or vice versa, it’s clear that the range has supply & demand.

However, let’s say the pair is in the process of going down towards demand, lower TF’s will display a lot more pullbacks thus illustrating possible supply areas.

How can we know if the last supply on the 4HR was consumed and this final run would be weak and not reach the “bottom” of the range.

Since it’s on the way down, what demand areas from the last rally would I be able to see has a stronger demand that could reverse the pair short of the bottom.

Happy to hear you opinion,.

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I come from the future.
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  • #78
  • May 16, 2022 7:29pm May 16, 2022 7:29pm
GU

Scalping on correction.

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #79
  • May 17, 2022 3:25am May 17, 2022 3:25am
Quoting Pat Chiko
GU Scalping on correction. {image}
GU

Stopped out
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #80
  • May 17, 2022 3:37am May 17, 2022 3:37am
UJ


SRF Set up


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