Dollar MINE FOREX Academy

Dollar MINE FOREX Academy Training young people to mine dollars from the forex market using their smart phones

11/07/2024

HOW RISK TO REWARD CAN CHANGE YOUR LIFE

Let use the popular 1:3 for an example

On 10 trade calculation risking $1000

If you win 3 trade out of 10 that = +$9000

If you break even 2 out of 10 that = $0

If you loose 5 out of 10 that = -$5000

Sum it all you will realize that = +$4000

Even if you win just 2 you will be be up in profit

With this illustration above you can tell that what is really stopping you from being consistently profitable is not following your trade plan & risk management plan.

Even with good forex analysis skill if your management and discipline skill is not intact, you can never be profitable.

I hope this will help you remember that trading is not the game of perfection but the game of patience and good discipline

You welcome 🫡

10/29/2024

No amount of psychology will work if you don't have an edge + Capital.

You might have an edge YES; But how long till you start overleveraging you 100 usd account?

You might be a man's of means; but having money with no skill should be classified as 1000 ways to die.

Because you will literally die.

If I were to chose between having the skill and Capital I would chose having the skill.

If it took me 5 years to get the skill and edge it can't take me 5 years to get good capital.

By good capital, I mean on the minimum 400k usd from a reputable firm.

But first skill is knowing how to trade.

_____Trading Cyborg

Trading FactπŸ˜‚
10/26/2024

Trading FactπŸ˜‚

GBPUSD, 4h✍️Don't miss itπŸ‘πŸ‘
10/08/2024

GBPUSD, 4h✍️

Don't miss itπŸ‘πŸ‘

10/01/2024

DEAR FOREX TRADERS, TAKE TIME AND READ THIS NUGGETS ‼️

I started trading in 2016 with one mission..
Make as much money as possible so I can escape the rat race.
I didn't know it then, but focusing on money was a big reason it took me so long to find my edge.

Losses and periods of drawdown are unavoidable
The key is not to fight losses.
The more you resist trying to take one, the more likely you are to take a big one.
Stop avoiding them, start managing them.

The goal isn't money, it's freedom
Money is just a tool that buys this for you.
Your dream life likely costs far less than you think.

Trading is not a game of IQ, it's a game of EQ
You need a certain level of intelligence to understand the markets.
You need a higher level of intelligence to understand yourself.

Journal everything
The holy grail is not found by spending countless hours on the charts, it's found by having data to reflect and learn from.

Comparison is the thief of joy
Time spent working on yourself > time spent wishing your life was as good as someone else's
Besides, 90% of what you see online is fake.

You never make it
There is no top of the mountain where it all becomes easy and the markets are just an ATM.
It requires continuous self-improvement to stay at the top of your game.

Time fixes your frustration but never fixes your account balance
If in doubt, stay out.
Being on the sidelines and preserving capital is a valid position.

Create multiple sources of income
It doesn't matter how skilled you are, you will experience a period of drawdown.
If you don't have any other income streams, the pressure will psychologically destroy most people.

Regulate emotions
Emotions are not the problem.
It's the action you take in response to the emotion which is what causes a detriment to your account.

Know your risk tolerance
You can have the best technical edge in the world, but if you're managing an amount of money you can't psychologically handle, your process will crumble.
Know your limits when it comes to managing money.

I've worked with hundreds of traders over the last few years and seen first-hand how many people struggle with emotions and managing money.

L

09/09/2024

TRADING PSYCHOLOGY

Imagine you're playing a game where you flip a coin. If it lands heads, you win; if it lands tails, you lose. Now, let's say you flip the coin 10 times and only get heads twice. That means your win rate is 20%.

But here's the twist, even though you only won 20% of the time, you could still make profit if the wins are big enough. For example, if each time you won, you got $10, and each time you lost, you only lost $1, you'd end up with a profit.

That's essentially what George Soros is saying: it's not just about HOW OFTEN you win, but also how much you lose when you're wrong.

So, even if you lose most of the trades, as long as your wins are big enough to offset the losses, you can still be profitable.

GBPJPY, 2h✍️
08/29/2024

GBPJPY, 2h✍️

πŸš€πŸš€πŸš€EDUCATIONAL POSTBest way to pick your POI for trend continuation:1. Identify structure break (BOS)2. Identify Premi...
08/29/2024

πŸš€πŸš€πŸš€EDUCATIONAL POST

Best way to pick your POI for trend continuation:

1. Identify structure break (BOS)
2. Identify Premium and discount price.
3. Locate internal liquidity within premium and discount for mitigation.
4. Mark out internal high or low for liquidity sweep.
5. Observe POI inducement
6. Finally, pick your confirmation model upon mitigation.
7. Execute your trade and target next draw on liquidity.

EDUCATIONAL POST πŸš€πŸš€πŸš€Typical POI selection based on :1). Liquidity 2). Structure 3). Premium and Discount 4). Inducement ...
08/24/2024

EDUCATIONAL POST πŸš€πŸš€πŸš€

Typical POI selection based on :

1). Liquidity
2). Structure
3). Premium and Discount
4). Inducement

Usually price runs from clearing Buy stops at Premium to clearing Sell stops at Discount price.

At every tradeable Point of Interest (POI), price would create liquidity and induce buyers or Sellers before reversing.

In a POI without inducement, it requires you monitor Lower Timeframe (LTF) fractal distribution or accumulation for potential entry.

08/19/2024

π‘΅π’‚π’Œπ’†π’… 𝒕𝒓𝒖𝒕𝒉 𝒂𝒃𝒐𝒖𝒕 𝒇𝒐𝒓𝒆𝒙 π’•π’“π’‚π’…π’Šπ’π’ˆ

πŸ“ŒThe only part they told us about Forex was that we would be our own bosses and make lots of money and be rich.

πŸ“ŒThey never told us that we would fail many times before we succeed. They never told us that we would blow our accounts. No one said anything about the sleepless nights trying to figure out a way forward.

πŸ“ŒNo one told us about the stress and anxiety. And the agony of blowing that hard funded equity!

πŸ“ŒNo one told us that we would be jokes to the society especially when we start changing from one strategy to another.

πŸ“ŒNo one told us that forex was more of character development that will teach us some of the most important lessons in life and we will have to be more than patient.

πŸ“ŒThat we would make so many mistakes end up losing a lot of money. That at some point we would have to risk our lives in order to move forward.
We had to figure this out all by ourselves.

πŸ“Œ Some of us had to stay awake the whole night Watching that one trade because we were scared of loosing money
Some of us had to stay awake too because we don't wanna miss the opportunity to enter a trade!

πŸ“Œ Some of us after going through so much pain we decided that we were going to succeed or die trying!

πŸ“ŒSome of us we are never giving up on this no matter what. We are now doing it and very aware of the circumstances. It's win or nothing for us and it's too late to go back now.

πŸ“Œ If you're funding and haven't made withdrawal yet Keep calm take out time to learn and study more, focus on the Chart trust the process. Your time will come

Some of us had to learn the hard way that forex is not a "Get-rich-quick" scheme!
Forex and financial trading in general is a real BUSINESS and not GAMBLING, hence anyone that ventures into it must treat it as such!

Shout out to all those learning to trade Forex, in 5 years time you'd be very glad you never quit. More blues In Jesus NameπŸ™ŒπŸ½

Happy New Week yall ❀️

GBPAUD, 6h✍️
08/16/2024

GBPAUD, 6h✍️

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