Some Trading Tips that has helped me grow into a multiple figures Trader for the past 3 years 👇

The last Tip is very important if you want to grow as a trader🥂

✅ FIRST TIP:

FOCUS ON FEW PAIRS ( be a specialist)

You can make Life changing money from trading if you take Trading as a business.

Just like Mechanics are known specialist for specific Vehicle brands, you will hardly see Trailer Mechanic repairing a Toyota camry, neither will a Honda mechanic repair a Mercedes Benz.

You should also be a specialist, focus on few trading pairs. 3-5 pairs isn't that bad (Some traders can trade 20 pairs at a time though) 🥂

Bruce Lee would say : "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times". ✅ Second Tip:

YOU ONLY NEED ONE STRATEGY

Stop strategy prostitution, you only Need one trading System to become profitable. If you have a strategy that has been working for you overtime, giving you a reasonable amount of wins, There is no need to jump to something else.. continue to refine that System and be disciplined enough to follow your trading plan and manage your risk.

You can watch this video on Risk management👇

https://x.com/Kelvintalent_/status/1962583122647584800

XAUUSD 3 months trade breakdown,

In this th~read i will explain how i predicted both the long and shorts on XAUUSD from September - 1st of December 2023

Repost this first post for others to read with you. Okay let's dive in

The first post was the overall chart Idea from the Daily TF.

On the chart you could clearly see that Gold just broke out of the daily Trendline , and was a point of retesting, those who trade trend lines knows that when there is a breakout, you should expect a retest.

What gave me more confidence on the short was that the Retest on the uptrend line aligns with the sub structure bounce so i was expecting a sub structure LL form after rejecting from that Zone.

SMC TRADE ENTRY TYPES
A th~read

I will briefly explain the two entry types as briefly as possible.

Kindly repost this first post so others can read along with you.

Now let's start⬇️🥂🔥

We have the
AGGRESSIVE/RISK ENTRY
CONFIRMATION ENTRY

This aggressive entry does not require any Lower timeframe confirmation.
Identify higher timeframe high probability POI and wait for price with pending order to come back to your POI.

If you are trading Trend Reversal know that you mist do a Top down analysis.

Pros: This entry type will help you catch aggressive moves ,leaving those waiting for confirmation behind.

Cons: You will lose more trades with this entry type , especially when price moves aggressively they might take you out seeking liquidity and still go your way

More chart examples

Trading Tip that has made me 4-5 figures in dollars monthly In 2023.

repost the first Post so your friends can read this too

FIRST TIP:

FOCUS ON FEW PAIRS ( be a specialist)

You can make Life changing money from trading if you take Trading as a business,

Just like Mechanics are known specialist for specific Vehicle brands, you will hardly see Trailer Mechanic repairing a Toyota camry, neither will a Honda mechanic repair a Mercedes Benz.

You should also be a specialist, focus on few trading pairs. 1 to 3 pairs is actually not bad and you will improve more.

Bruce Lee would say : "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times".

I have practiced my Strategy on $BTCUSD, $XAUUSD and $EU multiple times and constant practice has increased my win rate on these pairs. With proper risk management, you have no idea how much Money you can make . Second Tip:

YOU ONLY NEED ONE STRATEGY

Stop strategy prostitution, you only Need one strategy to be profitable.
If you have a strategy that has been working for you overtime, and you can get at least 40% win rate from it. Then read my previous post on Risk management 👇

https://twitter.com/kelvintalent_/status/1687419341988343808?s=46&t=pJjab1Vi03JAmrEuIPEKlQ

How to Become a Success Trader
A Thread 🧵

Profitability is not just about making profit from a single trade , but your overall profit in a period of time,

While getting the fundamental and technical skills as a first step in becoming a good trader, You should know that only a handful of traders are actually profitable, because many focus on the technical aspect but there are other important areas you also need to work on , to become successful in trading Things you should work on👇

✅Regulate your Emotions

Traders believe that when they become emotionless, they will trade Better, We are all Humans, it is impossible not to feel,We can only regulate our emotions,

Example:

someone who trades $500 to $1000 account , regularly without fear or greed,

Will feel those emotions when given a $100k to 500k account, thats why you see some Skillful traders lose prop firm accounts, the account size affects their emotions, only few who can Regulate their emotions with a proper plan succeeds.

Start with an account size you are comfortable with, and level up gradually

What are chart patterns?

Chart patterns are specific price formations on a chart that predict future price movements.
There are a lot of Chart patterns but i trade only few them,

The Wedges/Channels/flags
Mostly traded the same way though

I will explain them briefly THE RISING WEDGE pattern: A rising wedge is a Bearish chart pattern, which is identified by an upward Slope support and resistance, it Can be seen as a Bearish reversal Pattern or Bearish Continuation pattern, depending the trend.

Market Structure 101....

A Thread
As a trader, regardless of any strategy you trade, Always identify the primary Market structure and let it guide your trade..
there are 3 types of market structure.
upward structure
Downward structure
And the side ways structure👇👇 This is where people get it confused now,
In a downtrend, we look for opportunities to sell,
In an uptrend we look for opportunities to buy right,sideways trend we mainly scalp, this is the primary way to trade the market, now how you enter the market depends on your strategy