123 Quick Learn Trading Tips - Tip #9
Master the Daily Bias
Successful traders do not follow every small price movement. Instead, they focus on the Daily Candle. The daily candle shows you the overall direction of the market for the entire day. If you cannot clearly see where the price is going on the daily chart, it is better to stay out of the market. 📈
By identifying the daily direction, you can achieve three things:
🔻 Reduce Stress: You stop chasing small, confusing price moves.
🔻 Find Better Entries: You only look for trades that match the daily trend.
🔻 Protect Capital: You avoid trading when the market has no clear direction.
Professional trading is not about being busy every hour. It is about waiting for a setup that is obvious. When the daily direction is clear, your intraday trades become much easier to manage.
"The daily chart is the compass that keeps you from getting lost in the stormy sea of lower timeframes."
Navid Jafarian
Why did the pirate trader refuse to look at the 15-minute chart?
Because he didn't want to get "sea-sick" from all the choppy waves! He only sails for the big treasure! 🏴☠️🌊
Keep your compass on the daily chart and get ready for our next tip on managing your risk!
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123 Quick Learn Trading Tips - Tip #8
WHERE and WHEN or WHAT size? Build an Empire?
In the war of trading, many soldiers focus only on scouting the perfect battlefield. They spend all their energy finding the perfect place ('where') and the perfect moment ('when') to launch an attack on the market.
They believe a flawless entry point is the key to victory. 🧠
However, winning a single skirmish doesn't mean you will win the entire war. A wise general knows that long-term victory depends less on one heroic charge and more on managing the army. Your capital is your army. The secret to winning the war is not just knowing where to fight, but knowing how many troops to risk in each battle.
Committing too many soldiers—using a position size that is too large—to a single fight can lead to a devastating loss that ends your entire campaign. But by deploying your troops wisely, you ensure that no single loss can ever wipe you out. This allows your army to survive and live to fight another day. This is how you conquer.
"To be successful in the world of trading, it is important where and when we enter, but to remain successful, what's important is what size we enter with."
- Navid Jafarian
Why did the overconfident general lose the market war? For every battle, he knew the perfect location to attack, but his only strategy for troop size was "ALL IN!" 😂
Command your capital like a master strategist, and you won't just win trades, you'll build an empire.🏰
Look forward to our next tip!
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🚨#BREAKING: A Delta Airlines CRJ-900 jet operated by Endeavor Air has crashed and overturned with numerous passengers on board
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Currently, numerous emergency crews are on the scene at Toronto Pearson Airport after a Delta Air Lines flight from Minneapolis-Saint Paul to Toronto, operated by Endeavor Air, crashed and landed upside down. The flight, Endeavor 4819, a CRJ-900 (N932XJ), reportedly had many passengers safely evacuate, though the exact number of injuries remains unknown. Authorities are assessing the situation, and emergency responders are working to secure the aircraft and assist those affected.