The-A-Team

Freedom day trade summary.
4 trades taken
3 wins☑️
1 loss❎

Blue Monday
3 nasdaq profit
1 us30 profit
1 gbpusd loss

Trade summary for Monday
5 trades taken
4 profit✅
1 loss❎

Gold Collapses Below $1,900 as Rout Extends Into the Second Day Gold’s rout is not yet done. Prices sank below $1,900 an ounce on Tuesday, extending the precious metal’s slump into a second day after the haven lost more than 5% in the week’s opening session.

‼‼‼️ Stoploss ‼️‼️‼️

When I enter a position, I have a predetermined stop. That is the only way I can sleep. I know where I’m getting out before I get in. The position size on a trade is determined by the stop, and the stop is determined on a technical basis. I never think about other people who may be using the same stop, because the market shouldn’t go there if I am right...

‼️‼️‼️‼️ What you should know before choosing a broker‼️‼️‼️‼️

Their are different brokers that cater for different needs and stretagy. You may need to carefully select a broker you suit your needs as a trader. Knowing what kind of broker your trading with mighty be important for your success in this business. Below are different kinds of broker you find out there :-

MM
A market maker is the oldest and most common type of order ex*****on. Its popularity seems to derive from yielding the highest possible profit for such a model for the broker.

Key features:

Brokers, in most cases, occupy a position opposite that of their customers and thus earn profits when investors lose. This usually raises awareness of the obvious conflict of interest.
Brokers execute orders at exactly the price indicated by the client, but this depends on the particular procedure in use. Brokers do not automatically hedge positions in the open market; instead, they use other methods to cover their exposure, such as offsetting trades against other traders, buying options, warrants, or futures, or even buying shares on the open market.
In this case, brokers spend a lot of effort on marketing strategy. Their marketing plan is usually based on expensive promotion, such as bonuses and competitions to encourage potential customers to open accounts.

ECN
ECN brokers are on the other end of the market spectrum when it comes to kinds of order ex*****on. Features of this type of order ex*****on include:

1. Brokers never take an opposing position in relation to their clients.
2. Brokers do not guarantee the ex*****on of orders at exactly the price indicated by the client because in this case, investors place their orders on the interbank market, where guaranteed orders do not exist (a general feature of the forex market which investors must know and understand).
3. ECN brokers do not usually run additional promotions, such as bonuses or contests.
4. Initiation of trading usually requires a large first deposit, for example, $10,000 (US).
5. The leverage of ECN brokers is also often limited (for example, 1:5).

So, as we see in this case, people who decide to trade through an ECN broker actually gain access to the interbank market, where brokers do not take positions opposed to their clients in the hope that they will lose. The ECN trading model, however, is reserved for individuals with huge investment portfolios who are prepared to make long-term investments.

STP
Forex brokers offering straight through processing ex*****on of orders fall somewhere between the MM and ECN models. Features of the STP model include:
1. Brokers, as in the case of ECN, act only as intermediaries, transmitting client orders. Brokers, again as in the case of ECN, do not offer guaranteed orders. Rather, ex*****on of orders depends exclusively on the current situation on the financial markets.
2. Brokers, unlike in the ECN model, typically offer a very wide range of promotions.
3. Initiation of trading is possible with minimum deposits as low as $50 (US).
4. Leverage is also high, up to 1:1000.

Brokers of this type, as we can see, combine the qualities of ECN (access to real market conditions) with the positive elements of an MM offer (interesting promotions, minimum deposits, high leverage on accounts). Therefore, they afford access to the most favourable market conditions while offering very interesting promotions and types of accounts available even for individuals with minimum capital contributions. Therefore, STP-type brokers should be selected by experienced investors seeking proven solutions on the market.

‼️‼️ ️IS THEIR A RIGHT WAY OF TRADING? ‼️‼️

Is there a right way of trading?

This is a question that every trade at some point in their trading career will have to ask themselves. Trading can be very difficult especially in the the beginning because the principles that govern trading and the trader are far different from those that you need in regular sectors. Your success as a trader does not depend on hardware or external factors like computer or expensive software but on the trader him self, I know you just missed what I have just said, you can have the most expensive laptop and a sophisticated algoritim but your success as a trader depends on you the trader. In this equation the trader is the most important part of the equation. The trader has to go through a certain change to be successful. Defining success is one of the most important part because what you believe success is will be an important part of your foundation. So back to our question....

IS THEIR A RIGHT WAY OF TRADING ?

The answer to this question is very simple one, THEIR IS NO RIGHT WAY OF TRADING.

New beginner are alway in a quest to find the right way of trading but what they dont understand is that, they need to find what works for them, what works with their personality and their risk appetite. Their is no stretagy call a holy grail, the holy grail is the trader themselves.
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Keep learning, keep growing. Consistency is the key.

If at first you dont successed, try again and again and again...

Important to note !!!!!

Alway use a stoploss. Even when you are 100% sure of your trade, anything can happen at anytime. Using a stoploss to protect your capital will help you stay longer in the game.

Trade like a casino....

Professional traders know that they will never be right on all their trades but when they are wrong, they want to lose as little as possible...

It has been scientifically proven that testosterone plays a key role in your appetite in risk taking, high & low level of testosterone tend to increase your risk appetite. Level of testosterone predict the level of risk you will take. The more testosterone you produce the more risk you are incline to take.