How to Control Your Trading Emotions and Staying Focused
Trading
is challenging enough without the extra baggage that comes from
negative emotions. So, it is paramount that we not only try to
neutralize the negative emotions during our trading, but in addition we
should strive to develop positive emotions that will help build a
winning mindset.To get more news about WikiFX, you can visit wikifx.com official website.
Developing Positive Emotions
Here are some positive emotions that you should work on that will help you improve your trading process:
Think
Positive – Every action begins with a thought. Think Positive and you
will attract positive energy. This is the law of the universe. You must
believe in yourself and in this tenet to build a positive trading
psychology. Remember, the glass is always half full not half empty.
Be
Patient – Good things come to those who wait. This is especially true
in trading. Do not chase a trade. Instead learn to sit back and let the
trade come to you. And if you miss the trade, then so be it, but you
will have the satisfaction of knowing you did the right thing. And that
is what will pay off in the long run.
Be Thankful – The market
is making itself available to you to generate profits. Be thankful of
that. Know that the market exists to facilitate trade for you. So
regardless of a winning or losing trade, just be thankful of the
opportunities that the market is providing for you daily.
Feel
Inspired – No doubt that trading is one of the toughest professions out
there, but there is light at the end of the tunnel. Challenge yourself
to tackling the market, regardless of how long it takes. You believe in
yourself and your confidence in becoming a consistent trader.
Be
Passionate – Remember, if you love what you do, you will never work a
day in your life. Be passionate about the market. Take in everything,
not because you simply want to turn a profit, but because you truly love
the markets and trading.
Be Persistent – A string of losses is
natural. It happens to world renown traders, and it will happen to you.
A loss is nothing more than the cost of doing business. You either win
on a trade, or learn a valuable lesson. Keep at it, and know there are
no shortcuts. It takes a minimum of 10,000 hours to master any craft.
Trading is no different.
Visualize – Every morning you can
train your mind. You should visualize the trading day, imagining the
setups you will take and the process that you will follow in executing
the trade. You go thru each stage of the trade in your mind and feel
confident that you will calmly and methodically do the same during the
live trading session.There are countless reasons why you should have a
trading plan, not least of which is because it will help you to stay
better focused and disciplined. A good trading plan by its very nature
helps to reduce the negative emotions associated with trading because it
acts as a predefined guide or action plan for events both foreseen and
unforeseen.
With a well-constructed trading plan, you will not
be caught like a deer in the headlights, paralyzed to act. Instead you
will know exactly what needs to be done regardless of market conditions.
So,
what are some of the important questions that need to be answered
within you trading plan? Here are some questions that you should
address:
Data shows traders rushed to buy altcoins during Bitcoin’s dip to $50K
Bitcoin
price may be stuck in a rut but this hasn't stopped traders from
loading up on LINK, BAND and Qtum.To get more news about WikiFX, you can visit wikifx.com official website.
Bitcoins
(BTC) recent downturn temporarily pulled its dominance rate down to
49.5% which is the lowest level since August 2018. This has led a
growing number of traders to predict that altcoins will outperform
Bitcoin in the short term.
Over the past few months, the price
action from altcoins seems to be disengaging from Bitcoin. Take for
example, Ether (ETH), which hit a new all-time high today even as
Bitcoin price is down 20% from its all-time high.The major factor that
could have tilted the scale in favor of altcoins is the massive rise in
the popularity of the decentralized finance space. New York Stock
Exchange president Thomas Farley pointed out in an interview with CNBC
that “DeFi exchanges are doing as much volume if not more than Coinbase
today.”
Lets look at the fundamentals and technicals of three tokens that have been on the rise in the past few months.
LINK/USDT
Chainlink
(LINK) is one of the most popular decentralized oracle solutions. To
support the rapid pace of innovation in the crypto industry, Chainlink
outlined its vision for the future in its new whitepaper dubbed
Chainlink 2.0 on April 15.
The whitepaper presents a new
architecture for building hybrid smart contracts where second-layer
networks called Decentralized Oracle Networks store and compute the data
off-chain before feeding the input on the blockchain. This new concept
could empower developers to build hybrid smart contracts quickly,
similar to application programming interfaces (APIs) that developers
build in the web world.
Another positive for LINK investors
came as Grayscale announced the addition of the altcoin to its Digital
Large Cap Fund on April 6. Although the allocation is only 0.87%, the
inclusion could bring it into the focus of institutional investors.
On
April 2 Polkadot and Chainlink announced that Chainlinks price feeds
woul be available as Substrate oracle pallet, enabling projects in the
Polkadot ecosystem to integrate Chainlink oracles through a simplified
library.
LINK is currently correcting from its sharp rise from
$23.61 on March 24 to the all-time high at $44.33 on April 15. Although
the price plunged below the moving averages on April 18, the bulls
aggressively bought at lower levels as seen from the long tail on the
days candlestick.Since then, the bears and the bulls have been battling
it out at the 20-day exponential moving average ($35.89). The bulls are
attempting to defend the 20-day EMA support and launch the next leg of
the up-move while the bears are trying to extend the correction by
breaking the support.
The marginally rising 20-day EMA and the
relative strength index (RSI) above 57 indicate a minor advantage to the
buyers. If the bulls can push and sustain the price above $40, the
LINK/USDT pair could retest $44.33. A breakout of this resistance could
start the next leg of the uptrend, which could reach $50 and then
$55.72.
This bullish view will invalidate if the bears sink and
sustain the price below the 20-day EMA. Such a move could pull the
price down to the 50-day simple moving average ($31.42) and delay the
start of the next leg of the uptrend.
BAND/USDT
Band
Protocol (BAND) was featured by Cointelegraph on Feb. 2 when its price
was at $11.14. Since then the price h rallied to an all-time high at
$23.30 on April 15, a gain of 109% in about two and half months.
The
protocol announced on April 15 that its oracle data is live on Google
Cloud Public Data, which can be used to build traditional, hybrid
blockchain and cloud applications. Band said that the integration into
Google Cloud Public Data was the first among many use-cases being
explored with partners “to bridge traditional enterprises and blockchain
applications.”
Band has continued to build partnerships to
increase its market share. In the past month, it has announced
partnerships with Krystal, Equilibrium, and Polygon. Additionally, one
of the biggest financial institutions in Thailand, SCB 10X partneredwith
Band as a node validator.
BAND is currently trading inside a
large range between $11.50 and $20.62. The bulls had pushed the price
above the overhead resistance of the range on April 15 and 16 but they
could not build up on the breakout.
The Top 5 Most Promising DeFi Staking Opportunities of 2021
DeFi
has become extremely deep-rooted as an established breakthrough to a
crippling economy. The opportunities that the present DeFi landscape
offers to participants are undeniably profound. The space has, without a
doubt, accelerated wealth creation among the masses. And one of the
strongest contributing mechanisms that serve as proof that DeFi has
completely reformed the financial system is Staking.To get more news
about WikiFX, you can visit wikifx.com official website.
When
earlier, people settled for the meager returns as interests on their
capital holdings. The advent of DeFi staking now allows users to bank
the unbanked quite literally. It is now possible to yield solid returns
merely by holding your crypto and without performing any trades or
transactions. The prospect must have felt like a technical impossibility
a few years ago; it is now one of the most fundamental reasons behind
the meteoric rise of DeFi.
The Top 5 Most Promising Staking Opportunities in 2021
In
recent months, there has been an influx of projects that offer numerous
staking opportunities with their own set rewards. However, there are
specific DeFi protocols that stand out the most. These protocols not
only represent the highest potential behind Staking in its present form.
But allows us a glimpse of a future where Staking becomes a flourishing
and sustainable channel of passive income for users.
Synthetix
Synthetix
is a decentralized exchange and decentralized platform that allows for
the trading and issuance of synthetic assets. Meaning specific digital
assets that share similarities with or represent other real-world
assets, including fiat currencies, cryptocurrencies, commodities, and
share.
Synthetic Network Token or SNX is the utility token of
the Synthetix network and plays a key role in the creation of synthetic
assets, called the synths. The synth tokens, on the other hand, are
synthetic assets that can represent the price of real-world assets. The
Synthetix ecosystem offers users many mechanisms for revenue generation,
including the ability to stake SNX tokens.
When users stake
SNX tokens, their deposits are clocked automatically, and rewards are
generated on the performance trading fees. Users can go one step further
and participate in the inflationary nature of the SNX token. Currently,
Synthetix offers a staking reward of 32.68% to its users.
Nimbus
Nimbus
is a DAO-governed platform that combines time-honored traditional tools
with the best advantages of DeFi. Nimbus has been around in the
blockchain industry since 2019. However, recently, the platform
transitioned into a true DeFi ecosystem that offers over 15 Revenue
Streams generated by their pools and dApps. For an ecosystem offering so
many complex value-based functionalities, Nimbus makes things extremely
simple and user-friendly for its users.
Take, for instance,
one of their functionalities – the Nimbus Staking for their NBU token.
The great thing is, they offer 3 staking options with 10-40% APY that
cater to different users. But the APYs will remain that high only until
May 24, 2021, so users have to hurry up! Moreover, there are no minimum
staking sum requirements so everyone can participate.
Also,
there has been a lot of buzz regarding Nimbuss P2P Exchange
functionality, Lending-Borrowing dApp, and the expansion on Binance
Smart Chain. It will undoubtedly be quite exciting to see where the
upcoming events steer the Nimbus platform in the market. For now, things
look extremely promising.
Mirror Protocol
Mirror
Protocol is another DeFi project powered by the Terra network that
enables the creation of synthetic assets called mAssets or mirrored
assets. The protocol aims to follow the price pattern of a fiat asset,
thereby offering traders an open price exposure. This means, when
interacting with Mirror Protocol, users dont have to deal with the
process of owning or transacting in fiat assets.
Besides
mAssets, the Mirror Protocol also has a native token called MIR or
Mirror Token. The protocol allows its liquidity providers to stake their
LP tokens or MIR to receive staking rewards. Currently, Mirror Protocol
offers a staking reward of up to 16.75% to its liquidity providers.
Progressive Die Stamping of a Steel Bracket Assembly
Perfection
Spring & Stamping Corp. was contracted to manufacture a large
series of steel bracket assemblies for the automotive industry. This
bracket assembly consisted of three mounting legs per component and a
cover bracket that was originally die casted. Through prototyping and
development testing, our team of engineers established that this
expensive die casting process could be replaced with drawn metal
stamping operations. This solution provided better product at
considerable cost savings!To get more news about progressive die stamping, you can visit tenral.com official website.
Offering
a more stable metal forming procedure, drawn metal stamping eliminated
the need for other secondary operations and fasteners. Moreover, with
the ability to maintain tighter tolerances - as well as provide better
transfer of heat in extreme temperatures to meet the customer's RFI/EMI
requirements - this process yielded a higher quality product.
Additionally, the progressive die replaced the need for expensive
maintenance costs associated with die cast tooling. When the results
were tabulated, this solution generated an annual cost savings equal to
$200,000 per year over the five-year program, providing our customer
with a total savings of $1,000,000.
Where to get Chronoboon Displacer in WoW Classic
Blizzard
introduced a new item to World of Warcraft Classic in April 2021 to
solve the raid logging problem. The Chronoboon Displacer is an
innovative way for players to preserve their world buffs. If you want to
know how it works and where to buy it, we’ll explain everything you
need to know below. Here’s where to get the Chronoboon Displacer in WoW
Classic and a rundown on how it works.To get more news about buy wow gold eu, you can visit lootwowgold official website.
Chronboon
Displacer is a purchasable item from Chromie at the Ruins of Andorhal
in Western Plaguelands. After completing the required quest chain, you
can purchase any number of Chronboon Displacers from Chromie for ten
gold each.
Chromie’s exact coordinates are 39.4, 66.8 in Western
Plaguelands, found upstairs at the inn on the first room on the right.
Chromie is actually Chronormu in disguise, a member of Nozodrmu’s Bronze
Dragon Flight.The Chronboon Displacer is an item that players can use
in World of Warcraft Classic to preserve their world buffs. Blizzard
introduced it into the game in phase 6 with the idea of solving the raid
logging issue. Since vanilla World of Warcraft, players in raiding
guilds often get full world buffs before their scheduled raid. The
problem is that most of these buffs only last between one to two hours.
Logging off immediately after getting buffs makes sense if you want to
preserve them and maintain maximum uptime. Therefore, people tend to get
their buffs and log off their characters until it’s time to raid.
That’s raid logging in a nutshell.
On use, the Chronoboon
Displacer alters the fabric of time, suspending beneficial world effects
from dragonslaying, Dire Maul, Zul’Gurub, and Felwood. Essentially, it
stores all your active world buffs in a device for later use. Players
can then play the game without fear of losing their buffs. It has a
six-second cast time and creates a Supercharged Chronoboon Displacer,
which stores all your buffs. While Supercharged, the item puts another
buff on you that prevents you from obtaining another one of the same
variety. You can hover over the new buff to see the stored ones and
their remaining time.
You can right-click the Supercharged Chronoboon
Displacer in your inventory to get your buffs back at any time and
destroy the Displacer. The regular Chronoboon Displacer or Supercharged
variation goes on a one-hour cooldown upon use, including offline time.
It’s also one-time use, so you’ll need to get one every time you want to
preserve world buffs. The unique solution brings min-maxing to a new
level while also eliminating many stresses associated with world
buffing.
World of Warcraft: Shadowlands drove record PC revenue in November
The latest expansion for World of Warcraft, Shadowlands, brought in a lot of money last month.To get more news about buy wow gold, you can visit lootwowgold official website.
That's
according to research firm SuperData, which reports that the new
content helped drive a 22 per cent increase in PC digital spending in
November. Unsurprisingly, World of Warcraft was the highest-grossing
title of the month, coming in ahead of the usual suspects, like League
of Legends, Dungeon Fighter Online and Crossfire.
Following its
launch, Blizzard said that Shadowlands sold more than 3.7 million copies
on its first day, the highest Day One sales for a PC game ever.
Admittedly, that title was stolen from Shadowlands shortly after by CD
Projekt's Cyberpunk 2077, which GI.biz pegs at having sold 4.72 million
units on PC. No doubt, that title will be appearing close to the top of
the rankings next month!
Shadowlands brought in 50 per cent more
in revenue than the previous World of Warcraft expansion, 2018's Battle
for Azeroth, while it brought in 34 per cent more users.
Overall,
digital games brought in $11.5bn during November. This is the highest
revenue has brought in in a single month ever and is a 15 per cent
increase year-on-year. As already staid, PC revenue was up 22 per cent
for the month, while console was up by 24 per cent and mobile clocked in
a nine per cent increase.
SuperData reports that Call of Duty:
Black Ops Cold War sold 5.7 million units digitally for the month, a
seven per cent increase on previous franchise record holder, 2018's
Black Ops 4. Meanwhile, Ubisoft's Assassin's Creed Valhalla shifted 1.7
million copies, 50 per cent more than predecessor, Odyssey. Ubisoft has
said that Valhalla brought in twice the number of Day One users as that
game and was its biggest PC launch to date.
On the more indie
side of things, Among Us apparently boasted half a billion monthly
active users last month. Of the revenue generated by Innersloth's
multiplayer smash hit between August and November, 64 per came from PC,
but last month only three per cent of the game's users were on this
platform. This is likely because the PC version is paid for –
admittedly, only $5 – while the mobile editions are free-to-play. No
doubt Among Us' launch on Nintendo Switch might help the game bring in
some more money, too.