A
Aisley Crooner
@aisley
Last seen:
11 hours ago
Market is a mechanism for taking money from the impatient and giving to the patient
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Goat funded offers free competition which is actually better than free trials because the free competition has to time limit or expiry date unlike free trials which usually last between 14 days to one month
You need to be able to take the money out of your account when you are done trading for the day. Leaving funds in your account will just lead you into taking random trades and spiralling downward from there. You start making small $5 losses and you keep trying and before you know it youve lost $5 twenty times.
The reason why these patterns always change is because the market is ruled by banks/hedge funds who are always changing they way their algos trade so as to remain competitive. When they notice that people have figured out their algo playbook, they change the way they send in their orders causing the market pattern to change for another week or so.
You will start being a profitable trader, when you realize the market changes pattern every now and then. This is why consistency is important because when you show up and trade everyday, you begin to see patterns. For example for one week straight the pattern for a particular instrument could be rejection as a session high then downward trend, and it could last for a week. For another week, the presiding pattern could be breaking of a session low and continuation etc. One of the key skills a trader should have is the ability to observe and decipher hidden patterns on charts.
The truth is that no strategy works all the time so traders need to accept losses as they come withiut trying to revenge trade. In forex trading you have a set of good days and bad days, and theres nothing you can do about it when the bad days come. Ideally a trader should have daily loss limits and once reached, he/she should stop trading.
I guess you mean trying to get a better price using multiple entries. So, if I entered the first sell, Ii would wait for price to go up before entering the second sell and maybe with a bigger lot size?
No, the bond market is closed on Veterans Day because bonds are government securities and since government offices will be closed the bond market will also be closed.
It's basically trading something which you do not physically have. If I enter into an agreement to buy a car from you for $5,000 in two weeks' time, I can go and look for another buyer willing to pay $6,000 and sell the contract to him then keep the difference of $1,000 as my profit. So, I profited off your car without taking ownership of it. This is the same model used by online brokers when people trade CFDs.
Maybe you are trading with a bias and trading against the trend. What I mean is there are times when you enter the market thinking it should go in a certain direction and when that doesn't happen you keep doubling down and losing. For example if you entered the market with a short bias and you see that the market trend is actually upward you should switch your bias and follow the trend.
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