- Mar 2023
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freedom.to freedom.to
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Each behavior you choose represents time you can’t spend on other activities, so it’s easier to start with one action at a time
the reason Christine Whelan propse "attempting to change several behaviors at once is a mistake"
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with an average time period of 66 days.
this is longer than the author from the book Atomic Habit suggested
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- Feb 2023
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www.babypips.com www.babypips.com
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How to use liquidity in trading
.h2
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What causes illiquidity?
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Liquidity describes the extent to which an asset can be bought and sold quickly, and at stable prices, and converted to cash.
definition of liquidity
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Why is liquidity so important?
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Liquidity
.h1
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URL
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- Jan 2023
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www.pipmavens.com www.pipmavens.com
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(Win Rate x Average Profit) - (Loss rate x Average Loss)
the formula of positive expectancy
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expectancy is a deep topic that spans across all aspects of trading -- industry structure, market purpose, liquidity mechanics, competitor analysis, complexity, behavioral economics, game theory, just to name a few.
what are the topics contributing to positive expectancy
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It's whether or not they have an edge in the market.
the biggest determinant of trading performance
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You need an edge in the market
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POSITIVE EXPECTANCY
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HOW TO DESIGN WINNING TRADING STRATEGIESBACKED BY REAL-WORLD RESULTS
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www.newtraderu.com www.newtraderu.com
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What is Positive Expectancy?
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www.pipmavens.com www.pipmavens.com
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Why Amateur Traders Hate Risk Control
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is how much we’re risking on each trade we take. We can choose the amount of capital we lose when we’re wrong
What are the risk can be controlled as a trader
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What We Can Control vs. What We Can’t Control
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If you get taken out of the game, you can’t make money.
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The Purpose Of Trading
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The Number One Job Of Profitable Traders
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www.pipmavens.com www.pipmavens.com
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Why should it work? What is it really based on? Do you understand its philosophy? Or have you just copied parts of someone else’s system?
examples on questioning your trading approach
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Take Back Control Of Your Trading
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Beware Of Conflicts Of Interest
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Don’t Let Someone Else Do Your Thinking For You
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Reality Bites
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The Truth Behind The Learn-To-Trade Industry
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An Independent Thinker Speaks With A Trading Guru
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It’s about learning, reflecting, planning, testing and monitoring, all at the same time.
How a trader's duties are similar to an entrepreneur
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Real Traders Are Independent Thinkers
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- Dec 2022
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www.pipmavens.com www.pipmavens.com
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How's your trading coming along?
.h2
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It's an amount that won't lead to large losses, while at the same time being significant enough for you to have some skin in the game.
the reason to start trading with 1 micro lot
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just stick to trading with 1 micro lot
minimze the risk per trade
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But don't risk too much
.h2
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Risk is to traders like water is to fish. We live in it. So if you're not taking risks, you're not learning to trade.
a good metaphor to describe risk and trader
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to allow you to familiarise yourself with the trading platform
Chris think this is the only purpose of demo trading. But I think the other purpose of a demo trading is helping you to clear up your mind after lossing streak (from Andrew Aziz)
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4 weeks of demo trading is more than enough
.h2
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They think that the secret to trading lies in the strategy, when in truth, it lies in their mental and emotional resilience.
Emotions play an important role in a successful trading strategy
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this is all based on the assumption that you would trade in exactly the same way on a demo account as you would a live account. If that were the case, then yes, such advice would be effective.
There is a hugh different from trading with your demo account and real account.
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Trading is 20% strategy, 80% pain
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Demo trading is a waste of time
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www.pipmavens.com www.pipmavens.com
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The fastest way to train yourself to lose well, is to risk the smallest possible amount on each trade: 1 micro lot.
The definition of loss small by Chris
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Build emotional resilience
.h2
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So when they lose a few trades, amateur traders immediately assume the worst: that their strategy doesn't work. Then they bail on it to look for another strategy that doesn't hurt.But guess what? No such strategy exists. All trading strategies will hurt at one time or another.
We should learn and grow from amateur's mindet on how to deal with losses and stick to one strategy
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How to win by losing
.h1
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www.investopedia.com www.investopedia.com
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Recent scholarship has questioned the true extent of the tulipmania, suggesting it may have been greatly exaggerated as a parable of greed and excess.
key takeaway
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Tulips were introduced to Holland in 1593, with the bubble occurring primarily from 1634 to 1637.
key takeaway
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At the height of the bubble, tulips sold for approximately 10,000 guilders, equal to the value of a mansion on the Amsterdam Grand Canal.
key takeaway
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The Dutch tulip bulb market bubble was one of the most famous asset bubbles and crashes of all time.
key takeaway
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