Alpha Circle Nsukka | Charts, Psychology & Market Discussions

Say the truth, what happened?

You got burnt right? 😂

Losses are inevitable

I don't totally agree though.

There's nothing like you're supposed to be trading everyday. That mindset will only lead to forced entries, otherwise what happens when you don't see your setup?

Ever heard the term "less is more"?

There's no rule that says keep trading as long as you've not met your loss limit. That only guarantees you'll hit the loss limit soon enough.

I'm a fan of not trading everyday, I'm a fan of having very specific rules that governs your entry and exit. Trading is not for fun sake, it's serious business. It's nit something you do all the time just because you can, that'll simply mean you lack discipline.

Yeah, never argued that.

Just thought of the origin of the inspiration and I was almost very certain he lost a trade, cos that's what'll likely inspire me to make such post 😂

I've actually not taken any trades this week.

Been very busy 😕, with life outside of trading 😮‍💨

Whatever works for you.

I am an intraday trader i show up everyday hence my point. I trade fulltime and that too with fixed set of rules, advocating for trading full sequence doesnt make you a junkie or less disciplined.

Trading is for outsized gains when you make money or are making money should hit it big. Check my history I have traded upwards of 100 lots each day and i still showed up next day even though i made 5 figures the last day. Because you could maybe mae a whole lot more.

Trading is not a job hence not for gains like a job. You leverage the good times to wither the bad ones.

Hence you must soldier on till you feel like you should take a break.

Cheers

😂

Being a full time trader makes it totally different.

I think I understand you better now.

Kudos mate.

Though I think this works for you cos you're a full time trader and you have to be on the chart almost all day.

For someone who trades and does other stuff by the side, I won't recommend the approach.

Trading has clusters of goodluck days and badluck days. The days you take out to rest could be the good luck days and then you return on the badluck day and lose everything

Bot not everyone can afford to trade daily, you will simply run out of capital. Except you are saying trade till you run out of capital

No boss lol for were

💯

That's the power of probability

One thing I've found out about most psychology topics on trading is that we can be saying opposing stuff and still be both right at the same time.

It's all about perspectives.

Lol

Okay bro

New XauUsd outlook

Will wait for M15 confirmation before entry though

Long Eth target 2161

1993 sl

Still waiting for confirmation here.

Might eventually be getting an entry by Tuesday next week.

WEEKLY RECAP

Happy weekend guys. The market is officially closed for forex traders, so let's have it.

How was your trading week? Was it profitable, did you lose this week or you broke even?

And what lessons did you learn from your trading this week?

Personally I didn't place any trade this week for 2 reasons:

1. T'was a very busy week for me so I didn't have sufficient time to properly analyze the charts.

2. I was not getting any confirmation on the setups I already have.

So, how was it for you, let's talk.

Bad week for me, one day ruined it all. I was hit with a margin call and broker stopped me out only for trade to eventually move in my intended direction. I added to my winners but got stopped out. Lesson: dont add to winners if you dont have enough equity because the market can suddenly reverse