A lot of traders will hate me for sharing this for FREE, but I will delete this thread soon.

Here are all the secrets from my 4 years of experience

➬ Some people learn faster than others.
➬ Some will achieve success in a few months, while others will take years.
➬ Someone will enter the market during a bull run.
➬ Someone will be happy because of the half-percent green candle.

One thing sets successful people apart: they don’t quit.

They don’t leave even though there is no positive result.

And so that you do not end up among those who quit trading halfway, I tried to highlight some rules, the adoption of which will make your journey easier

① There are no absolutes in trading - there are only probabilities:

You don't know where the price will go.
You don't know how much you will earn this month.
You don't know whether the next trade will bring profit or loss.

All you are doing is constructing probabilities.

② Supply and demand are fundamental concepts that drive the movement of prices:

When supply exceeds demand, prices tend to fall as sellers compete to find buyers.

Conversely, when demand surpasses supply, prices typically rise due to increased competition among buyers.

③ There is no magic system:

But there is a system that will suit you personally.

You can make it out of anything.

No matter what concept you use, if in your hands the RSI indicator is able to generate profits, great. If it's Fibonacci or smart money - also great!

④ Analyze the chart simultaneously on both the Higher Time Frame (HTF) and Lower Time Frame (LTF):

The support and resistance levels on the higher time frame will be stronger. However, on the lower time frame, you may discover better entry opportunities.

⑤ The market always moves in two ways:

Accumulation involves smart money gathering a large position in a specific asset, while distribution involves selling a substantial position in that asset.

In between, there are markup and markdown phases.

⑥ Learn how to accurately identify a trend:

A trend shows the direction in which the price is expected to move:

Uptrend each low and high of the price is higher than the previous one.
➬ HH, HL

Downtrend each low and high of the price is lower than the previous one.
➬ LL, LH

⑦ Simplicity = the key to success:

The most profitable systems are assembled from primitive and understandable variables.

There is no need to assemble a sports car from thousands of parts and mechanisms. A bicycle will be enough to help you earn money for this sports car.

⑧ Risk management principles are your holy grail:

Many traders have decent systems but a terrible approach to risk management. A few adjustments can dramatically change the results.

Personally, I use a 1:3 RR ratio in my trades, but this may vary depending on the trade.

⑨ The trader is at the center of everything:

By itself, any setup is a useless piece of shit. It doesn't provide any advantage.

The advantage lies in the person who trades the setup.

How a trader acts in a situation is more important than any pattern or TA indicator.

⑩ Understand how the market cycles are simply working:

Buy fear and sell euphoria, period.

Low prices are an opportunity.
High prices mean sales opportunities.

⑪ Understand how Fibonacci retracement works:

Fibonacci levels help determine optimal times to buy or sell an asset.

Key levels to watch are 0.5, 0.618, and 0.786.

After a bullish price movement, simply draw the Fibonacci levels from the low point to the high point.

⑫ Be patient:

Instead of chasing the price, let it come to a predetermined level and enter a position when this happens.

Don't go surfing when there are no waves. Just wait.

⑬ Learn the basics of Smart Money Concept:

Smart Money refers to experienced traders or institutions with insights and resources.

The Smart Money Concept is a set of tools that can be used to track the actions of major players in the market.

Michael Udo, [2/22/2024 11:19 PM]
It operates on some principles