Pahami Konsep dan Mindset Trading || Understand the Trading Concept and Mindset
Only relying on display with various colors Indicators. But, we're having a hard time to get consistent profit It only has a good display Good night. Assalamualaikum wr. wb. We meet again in this night occasion Hope you're healthy. We'll start with basic topic For the ones who just joined and started trading Pay attention, because we start from the most basic thing For the ones who are starting to master it, you're fine to join Maybe there's information and knowledge you haven't got Maybe you didn't attend or forget it Hope tonight can improve our trading quality especially Wijaya Trading family. Hope you can master and get profit consistently Let's go to the topic. Some of you already tried practiced, and even some already use real account, even still ups and downs There are some things you must understand, especially if you just started trading First, we must know about concept and mindset The trading basic concept is buy and sell, or exchanging Understand the buy and sell or exchange Don't think of it as a game or gamble, but it's a trading business When our concept is made it's a trading concept, buying when it's cheap selling when it's expensive Buy low, sell high When the price is high, we sell When the price is low, we buy This is the main concept The problem is, when will the price reach a high spot? When will the price reach a low spot? There are aspects that we must understand which are candle structure, trend, support and resistance, and correction We'll discuss it in the technical We must form the mindset first Trading mindset must be formed well so we don't apply it wrong The mindset is always do the process Always follow the process not just focusing on profit. Our main target is profit, indeed
But, if we just think about profit, we won't follow the process If we only think about profit and profit we'd forget the process In order to get profit consistently we must get through a process. We can't get consistent profit in continuously Even if we get a high profit it's just luck The term is the market is still cooperative to us still haven't faced an extreme market condition We already did many analysis, but some were missed If we don't focus on process, only profit we'd only find valid ones Every day, there's always someone who asks valid candle pattern and accurate way to read the market These questions are repeating So, we must say this in order to get consistent profit, we must get through a process When we're going to do trading, focus on the process Like when we're doing a work, we focus on that work Do the work with maximum way If we focus on a business, then follow the beat then the profit would come to us One day, if we're working really hard surely the people who evaluate us will give an award If we do the work well the salary would be raised Let's go back to the trading concept and mindset Don't just focus on profit, but the process The process is long We must get through an understanding, research, and patience In doing the process, we must know the technique then, able to control the emotion then discipline be disciplined to your system After we find the technique that suits you, use and run it When there's mistake, fix it Don't forget to control the emotion Emotion could make us walk to bad road If we can't control it, even if we get much profit there's still chance to run out. It's because we can't control emotion including the discipline in applying the trading system First, focus on the process because profit will always come Next mindset Don't be a fortune-teller We always say this. Don't be a fortune-teller A trader must be able to read the condition situation, and always learn from the condition Learn much from the experience When we're wrong, try another way which must be better It means we must keep doing correction Open your mind to realize the mistake Realize the mistake and keep updating Always follow the existing dynamic Don't be a fortune-teller, but adjustable person. Follow the dynamic When our analysis says buy The market goes up a bit, then down strong, follow the dynamic finish the transaction that's opposing the trend Don't be a fortune-teller and think that it'll go to an area When we're wrong and it goes down strong we'd still think that it'll go up to here If like that, we're being hard-headed If the market turns and leave our plan If we're being hard headed, it'd be difficult to survive in this condition A trader who survive long A trader who can survive is not a trader who always do valid analysis Not a trader who always do correct analysis but he always learn...
...from mistake Always learn much from mistake and correct it Get many references including the notes from traders all over the world Maybe you've heard about George Soros He ever said, even though he shook the world economy in 1998 He made Bank of England lose billions of dollars Even that couldn't be repeated Although he shocked the world economy, he couldn't repeat it He didn't say valid prediction or absolute estimation We're only looking for probability The probability of the biggest chance of direction But, we must always learn much Always willing to fix the mistake Not valid analysis not accurate analysis reading the nearest probability However, we must be willing to fix the mistake not just standing and not doing anything Not just holding the principle Always learn from the mistake and follow the latest condition Follow the dynamic, take note of it Don't think that you're the master The market never can be guessed correctly All of them are just probability the high probabilities However, after we analyze and the market turns So, the only way is correcting the mistakes Evaluate, re-analyze, then follow the trend This is the most important thing Don't just wait and pray. When we're wrong we analyze buy and the market goes down It goes down strong, yet we still hold our position only praying and still think that it'll go back up Only thinking that it'll go back up That's if we don't want to realize the mistake not wanting to correct the mistake Feeling that he mastered it. Maybe in the previous days or previous weeks, his analysis were always correct Like, there's doji and tail After that, it'll go down Still using the old way Old techniques that he think they're always valid In reality, the market goes up strong, not down When it's still going up strong he'd still hold it, because he's sure There's doji pattern and confirmation Still sure with the proposition just because the experience only think valid and valid This makes us to be trapped in a narrow mindset Only assuming that the pattern is valid, while it may not be repeated It could move a bit, then it goes up strong And this condition often happen For example, the trend goes down It goes down long with no rejection, yet he still oppose with buy He knows that there's no up clue, yet he still oppose with buy He thinks like that just because seeing the RSI It's at the edge like this Thinking that the RSI is at the bottom He thinks that it reaches the edge He order buy, but not reading the trigger Only watching the RSI condition What's the reality? It goes up a bit there's profit, but thinking that it'll move up high while actually there's no supporting power 100 dollars profit, yet he still leaves it because he thinks that it'll go up, like the previous events he faced So, he waits until it reaches 200, or even 500 When it reaches 200 dollars, it goes down 150 dollars, yet he still hold it Goes down to 100, then 50 then -50 When there's strong red, he doesn't realize that it's just a correction because he only has narrow sight So, when it's red it's getting lower When the candle changes, it could go down longer, even 1000 pips That's what make you go MC First, fighting the current. Second, not wanting to do correction Not wanting to take the existing fortune We must plant the mindset early so we're not trapped in following the candle movement or pattern If we have a principle and have an open mind, it'd be way better It's for holding the profit not holding the ego, but holding the profit condition Surviving and getting profit in a long time it's harder than getting big profit Big profit could happen once or twice In the other groups, the screenshots consist big profits 5000 dollars profit in 5 minutes If we're not lucky, we'd get loss 5000 dollars in 5 minutes I don't want you to be fooled by this propaganda Watch the rational, logical, and make sense If we're still not capable, don't follow it Next, find... ...simple technique Simple is powerful Simple could have a big power Don't just rely on display with various colors of indicators but in reality, we have a hard time to be consistent It's just good for display Then, we can't find order spot and consistent profit It's better to use simple ones and consistent Simple things help us move and reduce our weight Hope you can understand this Before we go to the topic In trading, we only need to master some points. The main is risk management Risk management, then what else? Technical, like trend, support and resistance, and price action Price action is the history price movement. Not just candle patterns
but all the price movement, including history and present Generally, we only need to master these Risk management, trend, support and resistance then master the candlestick reading, price action If we master these well, taking profit is easy We can say this because we've done that We've experienced the process for years Turns out the simple ones give easy profit Easy means realistic Realistic means adjust it with the skills If we don't master it, then we look for 10% a day It's just a hallucination, fake Even if it's achieved, it's just lucky I want to know a guy who can get 10% per day consistently Without long experience only learning a bit If you do that and surviving for 3 months, it's already great It's not that we don't trust your skills Since we have long experience and know the rise and fall in trading we know that it's hard to reach it Even with 2% if we don't know the technique, it'd be hard If there's advertisements outside Getting 20%. It's nonsense If there's someone who offers this, it's nonsense Don't trust these kinds of investments 20% is hard. Even 2% is hard if we don't understand But, if we already found it If we found the technique and have long experience know the history and characters 2% is very easy It's very easy That's the difference in trading business We can get it quickly That's why there are some investment offers People are interested because they think that trading is difficult When they try with real account, they were crushed So, some people use it and open investments Giving 20% as the offers. Who wouldn't be interested? 20% a month profit without doing anything If there's things like this and it goes forever, I'd like that too If the models are like this, maybe we'd survive in a few months, then they would disappear Because 20% a month is pretty hard Especially if we don't know the track record, like his trading style Not knowing the technique. They offer that and give some screenshots of payment
Many models. We better learn much and understand it Risk management, trend, support and resistance, and price action What's the realistic one? To be continued....