@Evanture_

THE GOLDEN RULES OF FOREX !

TIPS AND GUIDELINES EVERY

TRADER SHOULD KNOW.
 @Evanture_
GREED VS REVENGE

“INVESTING IN ANYTHING WITH THE LACK OF KNOWLEDGE IS WHAT IS RISKY “

These are two characteristics that can make one moment feel like your
on top of your game to next thing you know all your money is gone, I’ve been there, seen it and
experienced it even when I knew how important their characteristics are to avoid I still did it, i never took
it into consideration beforehand though, structure yourself with discipline and money management,
remember this is our skill set we have a long way to go.

Greed

Most traders in the forex market try to make as much dollars on every trade. They're greedy. This leads
them to stay in a good trade, hoping to get more money out of it. This can lead to disaster -- the trade can
move against them and they get creamed. This happens all the time, and it still happens to me from time
to time. It's the single greatest threat in trading. But you can already understand why that's probably true.
But how do you overcome greed when trading?

Revenge

This is the other big one. A lot of traders get creamed in the market and then want to strike back. So they
double their last order and go for broke. This is natural, and I still deal with this emotion every day. The
problem is, how does one combat this? Do not underestimate this emotion. It will drive you to ruin if you
let it. The market is not your friend. The market is so much more powerful than you are. You cannot get
“back at” the market. Trading when angry or vengeful will be a total disaster. If you get rocked on the
market, then back up, take a deep breath, and talk to a mentor. Re-read the charts. Take a break. Even if
you think you see the best opportunity in the world after you get blasted – just take a break. There will be
trades tomorrow.
 @Evanture_
TRADERS MINDSET

A WINNERS MINDSET
Let’s talk a little more about that winning mindset and how we
can improve it here’s a quote that I love to put into action in my
trading journey.

Most people “try” something out which is why

they never succeed, when you “try” something you are mentally
telling yourself failure is an option and it's totally expectable.
Don't try. COMMIT yourself to MAKING it happen, when you
commit, failure isn't an option only learning is and success
becomes a priority. See the thing with winners is they don’t quit,
they never fail in trading you have to learn from your mistakes
and you win, you’ll know why you were right and wrong.

What is the winner’s mindset? what does it consist of, I want to

say “90% of traders fail” and if you consider that it makes sense
overlooking how most of them don’t think in probabilities,
instead they force their fear, you can never force a hand while
trading – that’s one thing as a trader you must always
remember. Most traders lack discipline they know the mindset
but they don’t live it, they simply don’t apply it to their trading
routine which eventually leads to a dangerous cycle a lack of
confidence and self trust
The Fear and Greed Cycle @Evanture_
 The Fear and Greed Cycle

Example

I want you to look at the resemblance between the image by wall st cheat sheet in the previous slide and this
chart with BTC/USD !
 @Evanture_
HOW TO BETTER YOUR TRADING FROM THE START

HERE IS A COUPLE TIPS FROM ME THAT YOU WANT TO FOCUS ON WHEN YOUR JUST STARTING TO TRADE THE MARKET. ITS
REALLY IMPORTANT TO APPLY DISCIPLINE TO THESE TIPS, THEY WILL HELP BY MAKING THE START OF TRADING MUCH
SMOOTHER AND EFFICIENT FOR YOU.

▸ 1 - Focus - Separating yourself from the scene to get a new

perspective and a clearer view is sometimes necessary when
trading there will be times where you may lose your focus or
perhaps your too focused and can't separate yourself from your
charts. Making a bad call right after a loss or an impulsive move
after missing a trade are just two examples. If you find it hard to
deal with emotions, separate yourself from your trading platform
after a trade. Just walk away for 5 – 10 minutes, do something
completely else and when you come back you can look at things in
a different way.
 @Evanture_
MIND OVER MATTER

▸ 2 - Your strengths/weaknesses - This will come with the experience,

with that being said it is important to know what you are good at or what works
best for you when trading, this also fits in with the type of style you trade with if
your know your not good at short terms trades it best to find what works, that
doesn’t mean you can't practice working on short terms trades on a demo
account in the meanwhile. Not only do you want to recognize your strengths
with the charts and all the types of analysis and patterns but there’s another
aspect that involves your characteristics, emotions, discipline/control and
mindset. Some examples can be like the ones down below.
Are you patient ?

Are you a risky person?
Do you get bored fast?
Can you handle losses?
Can you focus your time for long periods of
time?
Do you like to learn new things
Do you have a trading plan?
All of these characteristics are quicker to recognize
but longer to control, perhaps even harder? There are
things you can control with trading some are harder
than others. Why is it so important to recognize your
strengths/weaknesses? It's called self awareness, any
great trader or person is aware of their unique
strengths/skills and their weaknesses, they avoid the
weaknesses and aim for the direction of their
strengths.
 @Evanture_

▸ 3 - Control/discipline - What can you control trading? This is a very

important topic and something to consistently live by when trading rather than
just knowing about it, you need to do it. Ultimately there's one thing you truly can
control above all it’s the most important and that is how much you can lose per
trade, this has to do with the risk management side of trading and some
discipline, as a trader you can set the rules/guidelines or follow the rules if you
can't discipline yourself to follow those rules, things will start to get shaky.
Here are some other things you can control trading Here are some other things you can not control

When you trade The Movement of price ( The Market)

How many trades you take The outcome of your trade (The profit)

How much you risk

How long you trade for

How long you stay in a trade

When you exit a trade

Your learning progress

The rules you make