As a individual going through the journey of becoming a successful trader, you need to embody your own trading “persona” I should say. I say persona because when you take the plunge and decide to be a successful trader you need to change certain character traits of yourself in order to be successful. Some people are visual learners, some people learn by actively doing the task themselves, and some people learn by reading all the information they can about the task.
Trading can come off as overwhelming and confusing your first time entering into the market. If you are able to keep your mind collected and stay focused, you will survive your first time trading! When entering the market for the first time, I suggest absorbing as much as you can. It can come as a bit of a shock when you first see what your “platform” will look like. Something I can suggest is to have a trade journal and pen handy! You need to write everything down.
As you progress through your trades and learn more about the markets and how they move, you develop a stronger strategy and sense of what doesn’t work for you. The least effective strategies can be a relative term. There are many instances that I can recall where one person’s strategy works great for them but someone else just can’t pull off the strategy. The only real “least effective strategy,” however, is what works least for you personally.
If you’ve been reading and somewhat keeping up on the articles that Apiary Fund has been releasing, a lot of them have been talking about how while trading is a difficult field, but it is somewhat easy at the same time. The transition from that hard to that easy feeling is really just finding a nice strategy that you can execute with the time you have and the goals you want to reach. These can take time to find and reach yourself when starting out, but can be more quickly discovered by working and talking to someone who has been trading for quite some time and has gone through many strategies.
One thing most people never complain about is having a side stream of income. While some economists theorize that fiscal utility peaks at a certain point, and everything after that becomes superfluous income, most people would argue they aren’t there yet. That point would allow many people to rewrite the narrative on their life though. So, what's the best way to try to get to that point? Arguably, it's trading FOREX. Trading allows for the flexible schedule, a more open work plan, and that extra stream of income to get you to your optimal amount of income. These are some of the goals you see and can trade along with at Apiary Fund.
Hello to everyone in the currency community! I hope you have had an amazing day so far, and I can make it better by going over the pros and cons of day trading. I’m going to go over some of the pros and cons I have found being a day trader myself.
Trading requires analysis and instinct. There are different ways in which different people trade, but each way requires some sort of emotional investment and some portion of technical assessment. This is one of the reasons that Apiary Fund has you review your investor profile and rewrite your trade plan as you go through the beeline to funding. Knowing when to hold them and when to fold them is not only applicable to just a poker match; in trading, you also need to know when to carry on holding some trades and when you need to cut your losses and look for a new setup.
If you watch Apiary Fund trading sessions, one thing you will see is that Shawn Lucas can trade a reversal really well. With reversals being one of the two primary profit makers for traders, alongside continuations, knowing how to spot reversals is pivotal in trading. There are so many ways either via patterns of multiple candles or just single-candle formations that let you know when a reversal is more or less likely. Here are a few of the most common reversal patterns and what they mean.
Experience is the cornerstone to any continuous progress that is to be made in any field. This is especially true when it comes to trading, which is commonly thought to be a near-impossible skill to thrive on. As with any task or skill, though, lessons are learned as you experience the markets and different conditions that are created by different events that occur. While you may have the capabilities to trade with ease in certain conditions, there’s a lot that could change and divert from the stasis you may be accustomed to when you go and place your trades and analyze your markets.
In this article, I wanted to explain some ways you can keep your trading fresh and up to date. In the currency world, things are always changing. You need to be able to adapt to the change, and tweak your strategy to stay on top of the currency world, so you can ultimately be successful. But don’t worry, following this checklist should help you keep things in order so you can become profitable trading!