Today observed all the assets, but exceptionally don’t see potential understandable scenarios 🤷♂️ Everything went on Thursday and Friday.
Good evening, TVT traders!
Today observed all the assets, but exceptionally don’t see potential understandable scenarios 🤷♂️ Everything went on Thursday and Friday.
🔹 British pound this week showed us how amazing involvement in buys looks like.
How long does it take for the pattern to be created and how quickly should a decision be made on it, - only 15 minutes after the formation of HFT volumes. So fast reaction from the market makers limit orders.
Our mind is rather inert and in good situations, he especially begins to hesitate “Can we wait a little more, maybe a little more to see what will be around the corner?” As a result, the next 15-minute candle already changes the risk-reward ratio by 2 times! Not in our favor...
An excellent quote by Linda Raschke fits here: “In trading, as in fencing, there are either quick or dead.”
Markets operations are based more on psychology than on fundamentals, says El Weiss in Jack Schwager's book “The New Market Wizards”. “Markets are completely based on human psychology, and by charting markets, you are only converting human psychology into graphical form.”
Therefore, you need to follow the market for a long time, and the longer the better you will feel it. But the decision must be made quickly. Usually, novice traders do the opposite, analyze little, and make a decision when the entry point is already obvious to the majority and there is no advantage in it.
The most precise moments to enter a position can be observed using the Trading Volume Terminal platform to be faster in this game.
🔹 The previous week I gave my forecast in Wheat (ZW).
It reached my target but after additional involvement from the technical level
There was more time to make the decision, but because of the involvement risk/reward ratio became not so favorable putting stop-loss beyond high.
So, the market always creates inconvenient circumstances for decision-making. And this requires us more persіstance and confidence to follow our plan.