Live: Psychology, Technical & Fundamentals to Conquer trading – Forex Mentor Pro
In today’s live webinar, I discussed how to Understand market Psychology by combining it with technicals and stressing the importance of fundamentals in order to conquer trading.
Ashley went on to discuss trading shorter timeframes in the second half of the presentation, giving you lots of ideas and examples of how he trades.
Warren Buffett famously said that it’s wise for investors “to be fearful when others are greedy and to be greedy only when others are fearful.” However, the majority of investors and traders do the exact opposite!
This applies to all markets and especially for stocks, crypto or metals. You can make a lot of money if you get in at the right time. A great example is when I took the members who joined me in the crypto boom cycle in 2020/21. We saw insane gains because we entered at the right time. Along the way however I stressed the need to remove the initial stake AND take profits. Booms do not last forever.
Those who entered at the end of the bull run (the FOMO stage) would have taken significant losses.
The same applies to the SP500; if you had planned to retire and had a pension pot of $1 million at the start of 2008, your fund would have collapsed. Ergo no retirement and there have been numerous occasions in the following years where drops of over 20% occurred.
The better option would have been to buy lower, when the market was offering a discounted price for the SP500. This is when experienced professionals would step in and see this as a buying opportunity when others are fearful.
My clients and I have made a lot of money by catching crypto at the right time. More recently gold, silver and especially miners. All discussed again inn todays video.
I spoke in more detail about how to catch the right cycle at the right time in my previous live training session which you can find here: marc-live-successful-trading-investing-is-all-about-cycles/
Below is a market Psychology chart, which I showed in the webinar, and how greed and fear work.
7 charts that every investor needs to see:
1. The Psychology of a Market Cycle pic.twitter.com/6TAFAstWmS
— Mark Wlosinski (@LTI_finance) April 7, 2023
This is exactly how the 2008 Financial Crisis crash happened 👇 pic.twitter.com/6N5kleS1Da
— Game of Trades (@GameofTrades_) August 16, 2024
Check out this post from Steve Burns on Twitter, who talks about the 4 market cycles and what they are.
What Are The 4 Market Cycles?
The four stages of a market cycle on a long-term chart are the phases of accumulation, uptrend, distribution, and downtrend. All markets tend to eventually go through all four of these phases as a full cycle plays out from the lows to the highs and… pic.twitter.com/I4MAycdCfK
— Steve Burns (@SJosephBurns) June 16, 2023
Warren Buffet did it again this year. He started selling a significant percentage of his shares in Apple and other businesses and is now sitting with a record pile of cash. He sensed that now is the time to bank some profits and have cash if there is a crash. Last month, we saw the market drop by 10%, only to correct itself. The US government & Fed will try and do everything to keep stock markets high until the elections. We saw how they were manipulating the Job figures already.
This chart is wild.
Ask yourself:
What does Buffett know that I don’t?
H/t @RonStoeferle pic.twitter.com/5vTZYINSSA
— Otavio (Tavi) Costa (@TaviCosta) August 3, 2024
Historically, September is the worst month for stock and crypto. October and November are historically the best months for crypto, so that is the time to be looking for bargains.
Bad News: September is historically the worst month for crypto
Good News: October and November are historically the best months for crypto
We might be in for a rough few weeks, but in Q4 I think the bull run truly starts 🚀 pic.twitter.com/HvruvTQWsv
— Lady of Crypto (@LadyofCrypto1) August 27, 2024
Below is a post showing the best and worst months for stock. Once again the summer is slow and September is not much better. Personally I am staying away from F.A.N.G & tech stocks and focusing mainly on gold and silver miners.
best and worst months for stock
Everything about investing & trading is controlled by money management, for which risk management is key. If you ahve no money left you can not participate even if all your planning and research is spot on!
Below is an interesting chart showing showing the gains needed to get back to even if you suffer a drawdown:
Gains needed to get back to even: pic.twitter.com/RgO72RuVEA
— Brian Feroldi (@BrianFeroldi) August 28, 2024
I also showed you why I have been paying more attention to the metals for the past couple of years.
What if I told you that junior gold miners have outperformed the Nasdaq 100 over the past year?
This industry is so despised that people have a hard time believing it until they see the data. pic.twitter.com/zAsIYIRthU
— Otavio (Tavi) Costa (@TaviCosta) August 19, 2024
There is so much to catch up on, which is why I always tell you to read around the news and be aware of the basic fundamentals. If you struggle to keep up read Marc Chandlers articles. He provides excellent fundamental analysis.
You can read his latest article summarising September
Also, check out Ashley’s post from last week, where he summarises how he uses the M2 strategy to stay profitable in the markets. Members gave good feedback on this post so you might find it useful 🙂
You can also check out my Twitter feed, where I share interesting weekly articles.
Ashley went on to discuss trading shorter timeframes in the second half of the presentation
You can watch the Full webinar below.
In the first 10 minutes I showed folks how to set up my template correctly and went through using Fibs once again as many folks struggle with the concept and where to fib from and to:
Kind regards,
Marc
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