New Traders Must Learn To Read Price Action / TradingView

For new traders just starting out in the world of trading, learning how to read price action is an essential skill. Price action refers to the movement of a security's price over time, and understanding how to interpret these movements is crucial for making informed trading decisions.

There are several reasons why learning to read price action is so important for new traders. First and foremost, it allows them to develop a more nuanced understanding of the market. Rather than simply relying on indicators or other technical analysis tools, traders who can read price action are able to identify patterns and trends in the market that may not be immediately obvious.

This deeper understanding of the market can also help new traders to make more accurate predictions about future price movements. By observing how prices have moved in the past, traders can start to anticipate how they are likely to move in the future, giving them a valuable edge in the market.

In addition to these practical benefits, learning to read price action can also help new traders to develop a more disciplined and focused approach to trading. By paying close attention to price movements, traders are forced to stay engaged with the market and avoid the temptation to make impulsive trades based on emotions or other external factors.

Of course, learning to read price action is not always easy. It requires a combination of technical knowledge, experience, and intuition, and even the most skilled traders will occasionally make mistakes. However, with practice and dedication, new traders can develop the skills and confidence needed to succeed in the market.

One of the most effective ways to learn how to read price action is through a combination of study and hands-on experience. This might involve reading books or articles on the topic, watching instructional videos, or taking courses or workshops offered by experienced traders. It may also involve spending time observing the market and experimenting with different trading strategies.

Ultimately, the key to success as a new trader lies in developing a deep understanding of the market and the ability to make informed decisions based on that understanding. By learning how to read price action, new traders can gain the insights and knowledge they need to navigate the complex and often unpredictable world of trading with confidence and skill.

To make learning to Read Price Action simple, take a 1 Week Free Trial at MyTradingIQ.com. Not only will we help you learn how to read a chart like a newspaper or great mystery novel, we'll also let you use our Trading Indicators for 5 consecutive trading days, even on TradingView.

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New Traders Must Learn To Read Price Action / TradingView

Why Do 9 Out Of 10 New Traders Fail?

Trading in financial markets is an enticing venture that many people have taken up in recent years. With the advent of online trading platforms and the ease of access to information, it has become relatively easy for anyone with an internet connection to enter the world of trading. However, despite the accessibility and potential for high returns, statistics show that 9 out of 10 new traders fail. This article explores some of the reasons behind this high failure rate.

Lack of Education and Knowledge
One of the most significant reasons new traders fail is their lack of education and knowledge about the markets. Many people dive headfirst into trading without understanding the basics, such as how the market operates, the types of financial instruments available, and the risks involved. Without a solid understanding of the market and its complexities, it's difficult to make informed decisions and avoid common pitfalls.

Unrealistic Expectations
Another major reason new traders fail is their unrealistic expectations of what trading can offer. Many people are attracted to trading by the prospect of making quick money and achieving financial freedom. However, trading is not a get-rich-quick scheme, and success requires discipline, patience, and hard work. New traders often enter the market with unrealistic expectations, which can lead to making impulsive and irrational decisions that result in losses.

Lack of Discipline
Trading requires a high level of discipline and emotional control. New traders often lack the discipline to stick to a trading plan or follow a set of rules. They may become emotionally attached to their trades, making them reluctant to cut losses or take profits at the right time. This lack of discipline can lead to making impulsive decisions based on emotions rather than facts, resulting in significant losses.

Failure to Manage Risk
Risk management is a crucial aspect of trading. New traders often fail to manage their risk appropriately, exposing themselves to significant losses. They may invest too much money in a single trade or fail to diversify their portfolio. Without proper risk management, a single trade can wipe out a significant portion of their capital, making it difficult to recover.

Lack of Experience
Experience is a critical factor in trading. Many new traders lack the experience to navigate the complexities of the market successfully. They may not have encountered different market conditions, such as volatile markets, high-frequency trading, or sudden market crashes. Lack of experience can lead to making wrong decisions and incurring significant losses.

There is a way to succeed...

Trading is a challenging endeavor that requires discipline, knowledge, experience, and risk management. New traders often fail due to a lack of education and knowledge, unrealistic expectations, lack of discipline, failure to manage risk, and lack of experience. To avoid becoming a statistic, new traders must invest in education, develop a sound trading plan, practice discipline and emotional control, manage risk appropriately, and gain experience through practice and exposure to different market conditions. With dedication and perseverance, new traders can succeed in the challenging world of trading.

Forget the parlor tricks, the magical Indicators and mystical Oscillators. It's 99% nonsense created to pick your pocket before you even get to Wall Street. Instead of doing what 9 out of 10 Traders do, find a teacher and actually LEARN HOW TO TRADE!

How?

Take a 1 Week Free Trial at MyTradingIQ.com. Learn what it's like to have a Mentor and be a part of a vibrant trading community with zero risk. We invest our time, energy, and resources in you, for 5 consecutive trading days. It doesn't matter what day of the week or weekend you join the Trial. Once you register we will help you set up your trading platform with our Indicators. For those who use TradingView, we will enable the TIQ Indicators in your TradingView account. At the end of 5 days you'll be able to make a well informed decision if you actually have what it takes to LEARN HOW TO TRADE!

Be sure to read all CFTC Risk Disclosures and CFRN Disclaimers before taking the Trial. If you have any questions call 949-42-EMINI or email support@cfrn.net. You will have daily live training and around the clock support during your Free Trial.

Why Do 9 Out Of 10 New Traders Fail?

Does A New Trader Really Need A Mentor OrTeacher?

The simple answer is YES! Here's why...

If you want to become a successful trader, there is no substitute for experience. However, not everyone has the time, resources, or risk tolerance to learn through trial and error. This is where having an experienced trader as a mentor can be invaluable.

There are many benefits to having a mentor in trading. First and foremost, an experienced trader can provide you with a solid foundation of knowledge and skills that will enable you to make informed decisions and avoid common pitfalls. They can help you understand market dynamics, technical analysis, risk management, and other important aspects of trading.

In addition to providing you with knowledge, a mentor can also help you develop the right mindset and habits for trading. Trading can be a challenging and emotional activity, and it's easy to get swept up in the excitement or become discouraged by setbacks. An experienced trader can help you stay focused, disciplined, and resilient in the face of these challenges.

Another benefit of having a mentor is access to their network and resources. Successful traders often have extensive connections in the industry and access to advanced tools and data. By learning from a mentor, you may be able to leverage their network and resources to gain an edge in the market.

Perhaps most importantly, a mentor can provide you with guidance and feedback as you develop your trading skills. They can help you identify your strengths and weaknesses, and provide specific feedback and advice on how to improve. This can be invaluable in accelerating your learning curve and helping you achieve your trading goals.

Of course, finding an experienced trader who is willing to mentor you can be challenging. Successful traders are often busy and may not have the time or inclination to take on a mentee. However, there are a few strategies you can use to increase your chances of finding a mentor:

Take our 1 Week Free Trial at MyTradingIQ.com. No credit card required, but you will have access to everything a lifetime member has for 5 consecutive trading days. You can sign up for the trial any day of the week, or even over the weekend. We will personally assist you in getting your desktop set up for the experience. During the Trial you will be able to use our Indicators on the TradingView platform and others as well.

During you Trial you'll be able to chat with our Members who have gone through the exact same training program that you are considering. We have a very vibrant community always eager to answer questions and help you as you begin your journey.

Reach out directly: Call us at 949-42-EMINI or email us support@cfrn.net. We will meet with you for a One on One Session before you even begin the trial.

In conclusion, if you want to become a successful trader, having an experienced mentor can be a game-changer. A mentor can provide you with knowledge, mindset, resources, guidance, and feedback that will accelerate your learning and help you achieve your trading goals. While finding a mentor can be challenging, the benefits are well worth the effort. The Good News is for you, it won't be a challenge. Just take the trial or call.

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Does A New Trader Really Need A Mentor Or Teacher?

Trading Is A Life Skill Part 2

A Life Skill that once you learn, no one can ever take away.

Trading is a skill that can be applied to various aspects of life. Whether you're buying or selling stocks, currencies, or commodities, the fundamental principles of trading remain the same. Trading is about making informed decisions based on available information and managing risks.

But beyond the financial realm, trading is a life skill that can be applied to any situation where we need to make decisions and manage risk. It can be applied to our personal lives, careers, and relationships.

One of the key skills in trading is the ability to manage emotions. In trading, you have to learn to control your emotions and not let them cloud your judgment. The same principle applies in life. Whether it's dealing with difficult people, facing a personal challenge, or making a tough decision, managing emotions is essential.

Another important aspect of trading is risk management. In trading, you have to assess the risks involved and decide on an appropriate level of risk for your investments. The same principle applies in life. We all face risks in our personal and professional lives, and it's essential to assess them and manage them appropriately.

Trading also requires discipline and patience. You need to have the discipline to follow your trading plan and stick to your strategy. And you need to have the patience to wait for the right opportunities to arise. These skills are also essential in life. Discipline and patience can help you achieve your goals, whether it's a personal or professional one.

Moreover, trading also involves continuous learning and adaptation. The market is constantly changing, and traders need to stay informed and adapt to new trends and developments. The same principle applies in life. We need to be open to learning new things and adapting to new situations.

In conclusion, trading is a life skill that once learned, no one can ever take away. The principles of trading can be applied to many aspects of life, and mastering these skills can help us make informed decisions, manage risk, and achieve our goals. By learning trading, we can develop a mindset that can help us succeed in all areas of our lives.

To begin your journey, take a 1 Week Free Trial at MyTradingIQ.com. You'll get 2 hours of Live Training for 5 consecutive trading days. You'll also be able to use our Indicator Set on the TradingView Platform. No credit card required. Just a desire to trade for a living.

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Trading Is A Life Skill Part 2

Learning How To Trade Is A Life Skill No One Can Ever Take Away

On today's episode we got into a long conversation with Garrett on his macro view of the S&P Cash Index. We did have time for 30 minutes of Live Trading on the TradingView platform. Tomorrow's broadcast will delve into Trading as a Life Skill and why it's so important!

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Trading Is A Life Skill No One Can Ever Take Away

The Stuff Wall Street Doesn't Want You To Know

Wall Street is the hub of the global financial system, where the world's biggest banks, investment firms, and hedge funds operate. It's a place where fortunes are made and lost in a matter of seconds, and where the most sophisticated financial products and strategies are developed. However, Wall Street has a dark side, and there are many things that it doesn't want retail traders to know.

One of the most significant things that Wall Street doesn't want retail traders to know is the extent to which they manipulate the markets. Wall Street firms have access to vast amounts of information and resources that allow them to influence the direction of the markets. They can use their knowledge to manipulate stock prices, futures contracts, and options, making huge profits in the process.

Another thing that Wall Street doesn't want retail traders to know is the extent to which they are at a disadvantage. Wall Street firms have access to the latest technology, the best research, and the most talented traders. Retail traders, on the other hand, are often trading from their homes, using outdated technology and relying on their own research. As a result, they are at a significant disadvantage when it comes to making profitable trades.

Wall Street also doesn't want retail traders to know about the risks involved in trading. Many retail traders believe that they can get rich quick by trading stocks or options, but the reality is that trading is a high-risk activity that can lead to significant losses. Wall Street firms have risk management strategies in place to protect themselves from losses, but retail traders often don't have the knowledge or resources to manage their risks effectively.

Finally, Wall Street doesn't want retail traders to know that they can be successful without trading. There are many other ways to invest and build wealth, such as investing in real estate, starting a business, or investing in mutual funds. Wall Street firms make their money by trading, so they have a vested interest in promoting trading as the best way to invest. However, retail traders should explore all their options and find the investment strategy that works best for them.

In conclusion, Wall Street has many secrets that it doesn't want retail traders to know. Retail traders should educate themselves about the risks involved in trading, the advantages that Wall Street firms have, and the alternatives to trading. By doing so, they can make informed decisions about their investments and build long-term wealth.

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The Stuff Wall Street Doesn't Want You To Know

The Most Important Candlestick Signal Every Trader Needs

The Bullish and Bearish Engulfing Candle

In this article we will discuss both, however, it is very important that these signals appear in the proper context. The Bearish Engulfing Candle should appear after an extended uptrend. The Bullish Engulfing should appear after an extended downtrend. Without the proper context, they are simply continuation signals.

The chart below show the Bearish Engulfing Candle on a Daily Chart. It can be used on smaller time frames or larger time frames. The larger the time frame the more likely it is to have a major impact on the direction of the market trend.

A Bearish Engulfing Candlestick pattern is considered one of the most important signals for a new trader to learn because it can indicate a potential trend reversal in the market.

A bearish engulfing pattern occurs when a small bullish candle is followed by a larger bearish candle that "engulfs" the previous candle's body. This pattern suggests that sellers have taken control of the market and are pushing prices lower, potentially signaling the end of an uptrend.

By recognizing this pattern, traders can use it as a signal to exit long positions or even enter short positions, anticipating a further decline in price. It is also a useful tool for setting stop-loss orders to protect against losses in the event of a trend reversal.

Overall, the bearish engulfing pattern is a useful tool for traders to identify potential changes in market sentiment and take appropriate action to manage their positions.

A Bullish Engulfing Candle is considered one of the most important candlestick signals in trading because it provides valuable information about the current market sentiment and potential future price movement.

A bullish engulfing candlestick pattern is formed when a small bearish candlestick is followed by a larger bullish candlestick, which completely engulfs the previous candlestick's body. This pattern suggests that the buyers have taken control of the market and are willing to push prices higher.

For new traders, this pattern can be useful because it provides a clear indication of a potential trend reversal. If a market has been in a downtrend and a bullish engulfing candlestick pattern occurs, it may signal a potential shift to an uptrend. This can be a helpful signal for traders to enter a long position, with the expectation of profiting from an increase in price.

Additionally, the bullish engulfing pattern can provide traders with a clear stop loss level, as the low of the previous bearish candlestick can serve as a level to exit the trade if the market moves against the trader's position.

Overall, the bullish engulfing candlestick pattern is a useful tool for new traders because it provides a clear indication of potential price movement and can assist in identifying potential trading opportunities.

Bearish Engulfing Candle / Daily Chart

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The Most Important Candlestick Signal Every Trader Needs To Know

How Does A New Trader Pick The Right Broker?

Who is our Broker since 2008?

Mr. B

Burton Schlichter is a highly accomplished broker at StoneX, with an impressive track record of success in the financial industry. Over the years, he has gained a reputation as a reliable and trustworthy broker who consistently delivers exceptional results for his clients.

One of the most impressive things about Burton Schlichter is his wealth of experience in the financial industry. With over 20 years of experience as a broker, he has developed an in-depth understanding of the markets, and has built up a vast network of contacts and industry knowledge that he is able to leverage for the benefit of his clients.

But it is not just his experience that sets Burton Schlichter apart. He is also highly skilled at building strong, long-term relationships with his clients, and is known for his friendly and approachable manner. He takes the time to listen to his clients' needs and concerns, and works tirelessly to ensure that they receive the best possible service and advice.

Burton Schlichter's expertise is not limited to any particular market or asset class. He has worked with clients across a wide range of industries and asset classes, including commodities, futures, and options. He is able to provide tailored advice and guidance to clients of all levels of experience, from beginners to seasoned traders.

Another key strength of Burton Schlichter is his commitment to staying up-to-date with the latest developments in the markets. He is constantly monitoring trends and news, and uses this knowledge to help his clients make informed decisions about their investments. He is also highly skilled at identifying opportunities in the market, and is always on the lookout for new ways to help his clients grow their portfolios.

Overall, Burton Schlichter is a highly respected broker who has earned the trust and respect of his clients and peers alike. His wealth of experience, expertise, and commitment to providing outstanding service make him a valuable asset to anyone looking to succeed in the financial markets.

Reach him at 866-928-3310.

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How Does A New Trader Pick The Right Broker?

Which Trading Community Should You Join?

The Christian Financial Radio Network (CFRN) has a community of traders who are unique in their approach to trading. Unlike many other trading communities, the members of the CFRN trading community are guided by a set of Christian principles and values that inform their trading decisions and actions.

One of the key values that sets the CFRN trading community apart is their commitment to integrity and honesty. Members of the community believe that it is important to trade with transparency and to be truthful in their dealings with others. They strive to build trust with their fellow traders and with the wider trading community, recognizing that trust is essential to building successful and sustainable trading relationships.

Another value that guides the CFRN trading community is a commitment to responsible and ethical trading. Members of the community believe that trading should be done in a way that is consistent with their Christian values and that takes into account the impact of their actions on others. They seek to avoid taking unnecessary risks or engaging in unethical or exploitative trading practices, recognizing that such behavior is not only harmful to others but can also undermine the integrity of the trading community as a whole.

In addition to these values, the members of the CFRN trading community are known for their generosity and willingness to help others. They recognize that trading can be a challenging and sometimes isolating activity, and they are committed to supporting and encouraging their fellow traders. They share their knowledge and expertise freely, and they are always willing to lend a helping hand to those who are struggling or in need.

Overall, what makes the members of the CFRN trading community so special is their commitment to living out their Christian values in their trading activities. They are guided by a set of principles and values that emphasize integrity, responsibility, and generosity, and they are committed to building a trading community that is both successful and sustainable over the long term.

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Which Trading Community Should You Join?

Joining A Trading Community Part 2

You can join our Trading Community for FREE for 5 Trading Days. See what it's really like at no cost to you.

Are you a Scalper? DayTrader? Investor?

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Joining A Trading Community Part 2