Standing Still In Foreign Exchange

Last 45 days (since 2018 started) I am standing still in Forex. Actually, losing money. Since December, market conditions are horrendous. Binary, Forex, Crypto…. But, that is all part of the game. And I trust my analysts. Why? Because he is honest. And smart. While others are blaming the market, he is not making any excuses:

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Comm with my analyst Jason Mike

Of course market is brutal. You see, honesty is a crucial part of the financial world. You need to have a person you can trust with your investments. If you don’t, you will find yourself changing analysts (which are 90% bad and uneducated) and blowing your account, eventually. When bad times like this arrives, we will see who will be left standing. Sticking with my guy. I hope my expectations are correct.

Let’s see…

Binary Trading – Update

(can’t be understood unless you are a binary trader)

Fucking jungle. Literally. I feel sorry for the people. I was asked to help with binary trading, and I will.

Don’t get me wrong. I am doing great in Forex, but still trying to find good analysts to provide me good, quality and honest binary signals. It’s mission impossible. In last 6 months of my research, I have encountered nothing but bad providers. Let me start.

If you trade binary options, you most certainly receive signals (in 99% cases) through Telegram app. I belong to more than 200 groups in the Telegram (not just binary groups, but also forex and crypto groups) and, oh boy….. If I can find a guy from Europe to provide me signals, I would be thrilled. Why? Not just because of time difference (99% of so-called “signal providers” are from Asia and Africa), but because there are literally thousands and thousands of services/groups which are 99.99% scams. If not scams, they are gambling or not counting their results correctly, which is automatically a scam, nevertheless. They are not educated, they do not have proper knowledge of trading. People think that after 1 year experience in trading, they can provide signals. Jesus… Fucking jungle. And rumor is, binary trading is going to be banned soon, considered as gambling. But, let’s wait and see.

Important rules in binary trading (if you are following binary signals from providers):

  • when admin/admins of the group thinks his results are more important than members results, it’s a red flag
  • when admin/admins are not posting real results, RUN THE FUCK AWAY!

I wanted to describe my real-life experience with these so-called “providers” and I will post my opinion about them. Still searching for good ones.

 

Trading Mindset – 2 traits that identify if a trader on social media is successful or not

Great article published today on Steemit, by @forexbrokr

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GOOD AFTERNOON STEEMIT,

If you’re interested in markets then you probably follow a trader or two on your social media platform of choice. You’ll also know that there are a couple of distinct personalities that come through and by reading how people act online, you can often identify if a trader is successful or not?

I am not feeling the best today so I don’t plan on writing a lot, but there are 2 massive traits that can help you distinguish the successful, from the pretenders.

1. Successful Traders Talk About Ideas. Unsuccessful Traders Talk About People

Have you ever seen traders online worrying about what others are doing instead of their own setups? Those so called professional analysts who continuously put down, for example… crypto traders 😂, instead of worrying about their own accounts.

Instead of gossiping about other traders and getting nowhere, if they’re successful then you will only hear them speak about their own ideas. Sharing their own ideas instead of putting others down, is a sure sign of success.

2. Successful Traders Accept Responsibility. Unsuccessful Traders Blame Others

What about those traders that you see blame everything and everyone but themselves for a losing trade. It was never their fault, it was the market’s fault. No. It was your fault and only your fault.

Even worse are the ones that don’t have to blame anyone else for their losses, because they don’t share them! All good traders take losses within their risk profile and if you never see a trader take a loss then you know that they’re unsuccessful.

Crypto – still waiting for entry point

As predicted, I stayed away from crypto currencies. And it was a good decision. Bitcoin plundered like a hammer from the sky. And it was expected. Huge bubble was created in the past and it was just a matter of time when it will burst. But, that’s just a minor setback, in my opinion. US government shuts down and it created panic among crypto investors. Exactly what they wanted! Don’t be fooled, they are in intentionally weakening crypto currencies as they are scared of it! It will not last!

This morning is the first morning in a while when we’ve seen Bitcoin price actually maintain some strength that it picked up overnight and this could be an indication. That’s not certain, of course, it’s more speculative than anything, but given the action we’ve seen over the last few weeks, it’s far from an unreasonable suggestion.

If this is the case, maybe price can finally find a floor in and around current levels as opposed to constantly flirting with a downside breach of the $10,000 mark and, in turn, settle into a sustained period of upside appreciation.

Let’s see…