Embarking on the journey to become a stock trader can be exciting and daunting. With the allure of financial gains and the challenge of market dynamics, many are drawn to explore this lucrative realm. In this guide, I’ll break down the six steps to becoming a stock trader, providing you with a roadmap to navigate […]
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The book Trade Like a Casino by Richard Weissman first explained using the casino paradigm for trading. His book has been one of the most influential books in my trading career. Let me explain what he taught me in his book. It’s commonly thought that traders are nothing more than gamblers; this is not true
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In finance, trading psychology is critical in determining success or failure. It’s not just about having the right technical skills and market knowledge; understanding and managing emotions are equally important. This blog post aims to help you comprehend the critical aspects of trading psychology and learn how to use them to your advantage, ultimately improving
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Trading can be exciting and lucrative for those who take it seriously and approach it with the right mindset. However, it can be a frustrating and costly experience for many new traders, leaving them with little to show for their efforts. Based on several brokers’ studies, as many as 90% of traders are estimated to
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How Does Color Affect Your Trading Decisions? The color red has long been associated with bullfighting, which symbolizes the bull’s fury, and with financial adversity in the stock market, causing investors to tremble at the mere sight of it. Yet, upon closer examination, the relationship between red and aggression or poor performance is far from
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Technical indicators are tools used on a chart to quantify entry and exit signals to create good risk/reward ratios for trades. They are ways to measure risk by setting stop losses and profit targets. They can be used to build strategies as filters inside a price action trading system. Technical indicators are a way to
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10 Key Trading Skills To Become A Successful Trader Technical Analysis Trade Management Risk/Reward Ratio Risk Management Trading Psychology Backtesting Historical Chart Studies Sentiment Analysis Trend Analysis Trading System Development 1. Technical Analysis Technical analysis is the art and science of reading charts to quantify the trend or trading range the price action is in,
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The Psychology of Trading and Investing The psychology of trading and investing is a crucial aspect of the financial markets that traders and investors often overlook. Understanding the psychological factors influencing trading and investment decisions can help individuals make better decisions and improve their overall market performance. In this article, I will discuss the role
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How do you become a profitable trader? A trading system with a positive expectancy is the fastest path to profitable trading. A trader’s focus should not be on predictions, stock picking, opinions, or being right all the time. The best focus is creating a quantified system with a repeatable edge that creates small wins, big
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Day trading can be one way to make money in the financial markets, but it’s also incredibly risky when some important rules are not followed. Aspiring traders must understand and follow the seven golden rules to become successful in day trading and minimize the risk of large financial losses. These are key principles that all
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