DarrenHill

It's no secret that managing your trading psychology is the biggest challenge in your trading journey. Some say it counts for 80%+ of what's needed to be successful. I totally agree... However, there's a key factor in this for me. How you actually trade to start with! Correct trading psychology starts by realising you need a strategy. If you're guessing with no real plan or risk management surely you're going to be more stressed and overwhelmed than a trader who has a plan, has the data to support his strategy and manages his risk? So once you get your system/strategy nailed on, this in turn will help manage your fear. Greed is another factor, but this comes from your expectation. Expectations and reality need to be aligned with one another. Your expectations can come from your data and your testing. But if you've skipped this step you'll be chasing unrealistic expectations. Not just in terms of % gains, but in understanding your drawdown periods too. So in summary both are completely related. You give me a trader that's really struggling with his trading mindset and fear and within a month they won't be feeling the same way. Likewise, if give me a trader who is calm and in tune with his system and emotions, we'll quickly change this by getting him to trade randomly! No trading psychology means no trading strategy, No trading strategy means no trading psychology . These two elements are so intertwined. Thanks for looking at my idea. Darren 👍

USDCAD short trade has alerted. Reversal trade identified and entered. Working the 30M timeframe. Trade details can be found on the chart in the red label. Trade box is tracking the trade. Has USD strength ran out of steam on this pair? Who knows be it a change in the trend or a slight retrace I have a 77 pip target for my TP to be met. We'll see where it ends up. Want to know how I identified this trade you know what to do. Thanks for looking Darren🙌

This is spoken about a lot but what does it mean?⁠ In starting a business you would need funding and a business plan, right?⁠ ⁠ You would have realistic goals mapped out and be focused on your cashflow .⁠ ⁠ You wouldn't blow your 'cash' in recruiting too fast, or buying too much stock or spending too much on marketing.⁠ ⁠ Yet, in trading most don't have a plan. Or focus on protecting their cash.⁠ ⁠ They also don't think long term in line with their plan.⁠ ⁠ They over estimate their expectations short term and in doing so mess up what they could achieve long term. ⁠ You just wouldn't do this in business right? No one would open or run a business you knew nothing about. Most come in to trading thinking this will be easy! It's not and we all come in knowing nothing. So again would you start any other business with no training or idea? Most can keep the trading cash flow topped up as we all start out on this journey having another job to fund trading. There is no such thing as a sure-fire way to make money online. However, if you seriously want to make money out of forex trading it needs treating like a business. In a lot of ways, being a trader is like being an entrepreneur. It takes more than just knowledge and a killer idea. It also takes hard work, discipline and mental preparation. The reason it’s a good idea to treat forex trading like a business is because as a trader, your account is your own business. Trading isn't about the quick money it's about being consistent. That consistency comes from having a plan and sticking to it much like you would a business plan. Treat losses as a cost of business and factor them into the plan. The business plan for you the trader will be the strategy and risk management you opt to run. Set realistic targets and goals this will ensure suitability, Much how good businesses set up there own goals and aims for coming year with out being to risky. If you lack on the knowledge front in certain areas invest in education and training, No successful business neglects training and learning. Invest in resources that will help your business grow. Yes TradingView is free but having a higher package and more data help me just as an example. There is no other business in the world like trading where the over heads and start up cost are low, So if paid resources can kick you on to next level factor them in as a cost of business. Keep treating trading as a hobby and it becomes an expensive one. Start treating trading as a business with the ethos and cultures applied the same as those of successful businesses and that profit starts to come naturally. Thanks for taking the time to read my idea. Hope you all have a good weekend Darren 👍 ⁠

A short alert presented at 6am UK time for this Gold trade. Reversal trade identified and entered. Working the 30M timeframe. Trade details can be found on the chart in red label. Trade box is tracking the trade. Want to know how I identified this trade you know what to do. Thanks for looking Darren🙌

4am UK time see an alert on my USDCAD 30M reversal strategy. Reversal trade identified and entered. Strategy can be automated I wasn't up at 4am. Working the 30M timeframe. Trade details can be found on the chart in red label. Trade box is tracking the trade. Trade currently running in blue but we'll see where we end up. Want to know how I identified this trade you know what to do. Thanks for looking Darren🙌

Most traders spend a good bit of time looking at charts. Well here is a chart we traders should all take a look at. The chart shown is the Yerkes-Dodson Law. The Yerkes-Dodson law is a proposition that people perform best at intermediate levels of arousal, and that performance is lower at high or low levels of arousal. The theory behind this is visually represented by the graphic in this idea. No arousal levels or a bored/laidback approach to life will mean no stress but no real performance in what you are trying to achieve or do. However when arousal and stress gets too high by pushing to hard, performance starts to decrease. It's about finding the right balance to achieve an optimal performance. A certain level of stress about what you are trying to achieve motivates you to study, learn or train in order to do your best. A sportsperson has to get bumped up before an event as well as train hard, But getting to worked up and training to hard could cause a decrease in performance when it comes to the event. Pushing not hard enough to pass an exam will lead to a fail as you haven't studied or don't care, But also pushing to hard could lead to a fail as you've let stress and anxiety take over forgetting everything you studied. Moderate levels of arousal is best for overall performance. This theory can be applied to your trading. Take a non interested approach or bored approach and you performance in this area will be affected. Less potential profits etc. Get to focused on your trading or trade to hard could lead to poor performance along with a load of stress in your life. You as an individual will have to self reflect and determine where you fit on the curve in the idea graphic. If you fell more success, achievement and happiness can be had, by all means crack on and go for it! However, if you are getting to a point where you feel you might have reached your limit, it could well be time to dial it back a bit. Don’t push to hard for it that you go down the opposite side of the curve. This theory can be applied to every aspect in your life by using it to balance all aspects of your life will also help your trading as well as work, relationships and everything else we all go through day to day. Thanks for taking time to read this. Darren 🙌

Long trade alert for EURJPY has signalled. Trend trade identified and entered. Working H2 timeframe. Trade details can be found on the chart in printed label. All the TP values same in label as that's what I'm aiming for on this strategy. Trade box is tracking the trade. Want to know how I identified this trade you know what to do. Yesterdays CADJPY share hit TP lets see if this Yen pair idea can also. Thanks for looking Darren🙌

USDCAD long trade running over from last night. Reversal trade identified and entered. Working the 30M timeframe. Trade details can be found on the chart in green label. Trade box is tracking the trade. Want to know how I identified this trade you know what to do. Thanks for looking Darren🙌

I have an alert for a GBPNZD short. Reversal trade identified and entered. Working the 20M timeframe. Trade details can be found on the chart in red label. Trade box is tracking the trade. Want to know how I identified this trade you know what to do. Thanks for looking Darren🙌

I have a GPBCAD short alert this morning. Reversal trade identified and entered. Working 30M timeframe. Trade details can be found on the chart in red label. Trade box is tracking the trade. Want to know how I identified this trade you know what to do. Thanks for looking Darren🙌