One trading rule that most successful traders share is analyzing price charts to find the best entry and exit points. I am trying to understand price action trading but not getting it exactly. My most of the trade are break even, loss or small profit. Please help to understand price action trading and how to use fundamental analysis with price action trading.

What day of the week is it best to buy stocks?

Best Day of the Week to Buy Stocks

It's called the Monday effect or the weekend effect. Anecdotally, traders say the stock market has had a tendency to drop on Mondays.

Nonetheless, the biggest takeaway I had was identifying good risk to reward ratio which allows me to be wrong more than half the time and still makes money. Furthermore, confirmation from an indicator does not necessarily increase your win rate, thus, I stopped using indicators for trade confirmation. Most indicators lag the market so it is difficult to enter at a good price. By the time the indicator has confirmed you would probably miss a chunk of the move. This had to be my darkest days in trading when the statistics stared right in my face.

And there was an additional commission for trading less than 50 lots. Theoretically, qualified investors could buy any financial instruments of the Moscow and American Exchanges through Russian brokers. Practically, they are just beautiful pieces of paper hanging on the wall. I calculated my monthly expenditures/income and built a plan of changing a profession. The plan envisaged that I could trade without income for some time.

Day Trading Definition: Why It Differs From Investing

To avoid possible humiliation and refusal the company owner decided to assign the task of getting credit money to Charles. Charles turned out to be a good negotiator, as his experience in socializing gained during frequent relocations of his family served a good service to him. He succeeded not only in meeting the President of the National Copper Bank, but in getting three hundred thousand dollars on credit.

I also would love to be a mentor to those who are struggling one day myself. I have yet to trade live, only demo, and I really am quite bad after 9 months. Making some progress but the bad and ugly continues to surface.

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You’ll be surprised how things are done from that side of the internet. I got 2.9btc back in no time, gave him his share and it was an amazing feeling. Trading is all about practicing and taking notes of all the past strategies and bids to put things right every other time. Even StarTrade NightProfit is also a professional bot for FX Trading who has Expert Advisors and Technical Indicators to improve trading performance. Thank you Mr Bennett, I always love your posts and set up because no matter how experience you are, you will surely lean and gained from the post. “It’s not whether you’re right or wrong, but how much money you make when you’re right and how much you lose when you’re wrong”.

How do you Become a Professional Trader?

Lost a lot during a heavy correction, overweight in 1 company. Later on a friend of mine mentioned that he had became a successful forex trader after a career in owning coffee chains?? Jesse Livermore is an example of such trader. He was a genius of trading who made millions only to lose them and to make them again. The press nicknamed him the Great Bear of Wall Street as his trading had its impact on the market, while the lad even had no secondary education!

Is there any successful trader?

Richard J. Dennis (born 1949) made his mark in the trading world as a highly successful Chicago-based commodities trader.

I have just read your story that is similar to what happened to me, my account has been blown several times. I am very much so encouraged that your strategy is going to make me a quadtrillionaire. Hi Rayner , I have been trying out new strategies, but been losing more than 60% , im still not giving up and was hoping to find the right strategies. Hope to see you in person one day and learn personally from you. Right now, I have been following your videos on YouTube closely and saving up in the hope that I will be able to replicate your success story.

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Soon, he discovered that he was able to stay break-even in the market. He didn’t lose much, and he didn’t win much. Become a successful Forex trader using Forex Factory. After he moved to New York and worked for several Wall Street brokerage firms, the real life of the financial genius begun.

I always disclose this information when it is the case. As part of the Desire To TRADE family, you allow me to be able to use affiliate/referral links when suggesting items for purchase. As a customer of the products I refer, you help me sustain the time and resources to create content on this channel by generating revenue from your sales. This doesn’t affect you in any way in the checkout process (I’m sometimes even able to arrange a discount for you that is special from other customers). A professor exploring new methods of options trading and its strategies using python made it possible with Quantra.

What is the golden rule of trading?


The first golden rule of trading is 'there is no short cut to quick earning'. Investors should follow a process to reach their financial goals, which include financial constraints and a strategy that help match your goals with those constraints.

I just learned trading a month or so ago and I can relate from almost 90% of what you wrote here. When I started to learn about trading I even thought about quitting my day job to do full time trading only to lose 50% of my capital on the first 2 weeks. I’m starting to doubt myself then I read this article and realized that what I’m experiencing right now is just labor pain of learning something new. Still in the midst of earning back through simple price action as well as trend following, which i hope to learn more from your continued dedication to this blog.

Failure No. 2. Absence of important knowledge and trading system. Experiments on a real trading account.

Becoming a profitable day trader can require years of thorough research. This level of successful trading is not typical and does not reflect the experience of the majority of individuals using the services and products offered on this website. I’ve seen people start trading their hard-earned cash on their first trades … only to lose it all. That’s what I try to do with my teaching and my students. This book has a wealth of valuable lessons that any aspiring day trader can learn from. John inspired me to become a trader myself.

successful trader stories

I loved watching your videos, short and to point. Long-term, buy-and-hold investors typically do not experience the emotional swings that afflict most day traders — even when their holdings gain value. Day trading isn’t easy, and there are several areas of complexity that require research for new day traders. If you decide to become a day trader, it’s important to understand that day trading isn’t a get-rich-quick scheme. You will lose money along the way, and not all your trading strategies will pay off as you expect.

They Don’t ‘Lose’

This means a lot… People like me are very lucky, everything to learn is here, especially for new to trading. Your ups and downs during your first to four years of trading have a big impact on me. And I am very glad that I learned a lot from here, and will be applying on my journey to the trading world. In my year of trading i have never used an indicator fortunately and am not about to start. With that said thank you so much and may the God Lord strengthen you so that you can continue to be a blessing to most of us out here. Thank you for the honesty in your journey.

The dramatic and varied life stories of the world’s most famous traders have made compelling material for books and movies. Rogue Trader , starring Ewan McGregor, is based on the story of Nick Leeson and the collapse of Barings Bank. David Tepper is the founder reviews of the wildly successful hedge fund Appaloosa Management. Tepper, a specialist in distressed debt investing, has made several appearances on CNBC where his statements are closely watched by traders. I wanted to understand how prices move in the market.

Trades from 25 contracts are filtered out on the middle tape. Then the price gradually extended local day’s highs (points 2-5), but these extensions narrowed down or took a smaller number of ticks, which means that the pressure of buyers reduced. You can see from the contracting profile that the number of buys decreases. I wanted to buy from point 1 or sell from point 5 and posted limit orders there, marked with red rectangles. I do not print out all my trades now because I trade during a day quite often, but I register my actions and analyze them.

Perhaps, the market buy orders are engulfed by limit sell orders. The key word is ‘engulfed’, that is, the limit sell orders do not let market buy orders move further. Quite often this engulfing forecasts a downward reversal. I still remember my first trade – I bought Aeroflot stock in the middle of a falling trend. I behaved like a joke – I buy it because it falls. ” I didn’t know that the minimum lot was USD 1,000.

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