Recap on my EG trade
Up 420 on the day but up over 600$ on this pair.
Perfect trade setup charted out the prior day and called out with my team 💪🏼
Clear Divergence setup, along with other key factors coming together to provide a nice short opportunity. Could’ve done better on this money management wise, but I’ll take it.
About almost 2 months into forex, and I can honestly say that I am loving this much more then equities. Glad I kept an open mind into forex, and I highly suggest anyone who is in interested to give it a try!
90% of traders do fail and one of the reasons they do is because they do not know how to manage risk. We will admit we have been on that losing side and it was always because of us not managing risk. When our stop loss would hit, we would tell ourselves no its about to do this or that but the market would kick our ass because of our stupidity. Since our beginning losses from not managing risk, we have learned how to manage it and all it took was us to get our egos out of the picture.
I think about a lot when I workout. I think about friendships lost. I think about the emptiness that’s lived inside of me for the last couple of years. I think about the pain I’ve felt every time someone else walks out of my life. I think about every time I’ve felt I’ll never be good enough. It’s funny, how bad I’ve bent and snapped to create this mentality. Like pain is what I’m use to, like the only time I feel at home is under pressure. Maybe that’s why I obsess over this. I call it therapy, but maybe the hurt is my high.
Investment management fees are no longer deductible as an itemized deduction subject to 2% of AGI (adjusted gross income). If you have high investment fees, contact your broker to see if there may be another place to charge the fees to. An option could be to run them through your retirement account, which may reduce your RMD (required minimum distribution). This will depend on your age and applicability of moving these expenses. Another option could be to switch to commission based fees which are added/subtracted to/from the cost basis/selling price of your stock transactions. Make sure to discuss with your investment broker as this could lead to higher fees and more selling/buying then you want. Always contact your CPA before making any changes! #investment#fees#broker#stock#gains#losses#management#accounting#cpa#taxes#calabasas#woodlandhills#losangeles#california#taxcutsandjobsact
#Crypto#Market Recovers to $210 Billion, #Tokens Surge as #Ethereum Rises 4%
In the past 24 hours, despite the strong downtrend of major #cryptocurrencies , the crypto market demonstrated a quick recovery from this week’s #losses .
On August 14, as the #BItcoin price dipped below the $6,000 mark, the valuation of the crypto market plummeted below the $200 billion mark. At its lowest point of this year, the valuation of the crypto market reached $194 billion, led by the poor #performance of Ethereum, #Ripple , and #BitcoinCash .
What Drove the Corrective Rally?
On yesterday’s report, CCN emphasized that if the market does not see a strong spike in volume or momentum, its losses will continue throughout the week. “Based on the analysis of Woo, a likely scenario for Bitcoin and the rest of the crypto market is to record another major drop in the near future, bottoming out at a lower range of prices, and demonstrating stability before initiating a proper mid-term rally,” report read.
A major drop of the crypto market in the short-term is still a possibility, given that the corrective rally of the market was not as strong as investors hoped it would be, but as of current, the sentiment of investors is generally positive.
Some analysts, including CNBC’s Fast Money contributor Brian Kelly, suggested that the quick recovery of the crypto market recorded on August 16 was caused by the closure of the US Bitcoin futures market, creating a short squeeze.
He explained that in the Bitcoin futures market, investors are incentivized to intentionally bring down the price of Bitcoin to cash out their short contracts and the simultaneous movements of a large number of retail traders to dump BTC on the market may have caused the previous drop.
Kelly added that if the price of BTC can increase 10 to 15 percent in the near future, possibly to the $7,000 region, the price of other major cryptocurrencies and tokens will follow. He said: “They (altcoins) are still quite correlated (with Bitcoin). Over the last 60 days or so, Bitcoin has really been the leader — a lot of that had to do with the speculation about an ETF. #bitcoinnews#bitcoininfo#creedcapital
I’ve had these Old Navy men’s pajama pants since I was 13; I’m afraid that 18 years later I might finally have to give up on sewing them back together every time they rip. Talk about the end of an era. 😕 #emotional#losses#butts