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#Educational_Post1📚:
🟢Financial markets in general or the stock exchange ( stocks, forex, crypto ) are based on supply and demand,
The more demand for a certain currency or stock, the higher its price and the less available quantity, and vice versa.
🟢To become a professional trader, you will need two main things:
50% 🔴Skills and tools to use, for example: ( learn technical and fundamental analysis, learn wave analysis, create indicators, manage capital and risk, learn Japanese candlesticks, support and resistance levels, etc., the list is long ).
50% 🔴Control over the trader’s psychology and emotions:
🔼-FOMO and rushing into the market out of fear of missing opportunities will ultimately cause you to lose.
-Patience is very important in this field; the market will not run away from you, and opportunities will not escape.
🔼-Making a plan and following it, always having a backup plan: it means your strategy might fail, and the market might turn against you, causing you to lose a trade, but that’s not the end. Losing a battle doesn’t mean losing the war, so always consider all possible scenarios before starting, and this is where risk management becomes important.
🔼-No strategy can guarantee 100% profit consistently, and anyone claiming so is a liar; do not follow them.
The best strategies have an 80-90% success rate, meaning you win 8 or 9 trades and lose one or two. Losses are inevitable and part of the work.
🟢Financial markets in general or the stock exchange ( stocks, forex, crypto ) are based on supply and demand,
The more demand for a certain currency or stock, the higher its price and the less available quantity, and vice versa.
🟢To become a professional trader, you will need two main things:
50% 🔴Skills and tools to use, for example: ( learn technical and fundamental analysis, learn wave analysis, create indicators, manage capital and risk, learn Japanese candlesticks, support and resistance levels, etc., the list is long ).
50% 🔴Control over the trader’s psychology and emotions:
🔼-FOMO and rushing into the market out of fear of missing opportunities will ultimately cause you to lose.
-Patience is very important in this field; the market will not run away from you, and opportunities will not escape.
🔼-Making a plan and following it, always having a backup plan: it means your strategy might fail, and the market might turn against you, causing you to lose a trade, but that’s not the end. Losing a battle doesn’t mean losing the war, so always consider all possible scenarios before starting, and this is where risk management becomes important.
🔼-No strategy can guarantee 100% profit consistently, and anyone claiming so is a liar; do not follow them.
The best strategies have an 80-90% success rate, meaning you win 8 or 9 trades and lose one or two. Losses are inevitable and part of the work.
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