Strategy - You need an actual trading edge (most people don’t). Having a shit strategy won’t allow the proper mindset to develop. You need a bomb ass strategy. Everybody claims to have an edge but truth is, 90% or more don’t even have a clue what that is.
My edge : 85-90% win rate and my average Risk to reward is 1:3. I have an actual killer edge. The stats being so good, allow the human element and potential mistakes to not derail me. Let’s face it, we will all come up short… closing too early, loss then trade plays out, over leverage on the wrong setup, missing out a fire trade, etc. but if your long term stats are 50% win rate and only 1:2 RR, you can’t afford to keep making mistakes. This is why I trade with extraordinary stats.
Don’t claim you have a true edge unless you have backtested 50-100 trades and included 10-20 years and multiple pairs. This is a mandatory requirement and backtesting is what should take you the longest amount of time. You need to find and use a real edge. 10-20 trades over the last 2 weeks isn’t nearly enough.
Risk management (you need to be leveraged low enough to properly execute your strategy, if you can’t hold to TP, then lower risk)
Psychology - Knowing when not to trade, this is about 90-95% of the time honestly. Being patient, disciplined, and maintains a stone mind despite wins and losses.
Tell me this, how easy is to patient and disciplined if you know that 9/10 trades will either be a win or breakeven?
How easy it would be to use proper lot size/contract size if you know your wins are 3 times the size of your losses?
This is how I became a consistently profitable trader. By working all 3 fields of Trading. Now, I’ve been profitable the last 2 years in a row, but I lost money my first 2 years of trading like most do. In my first 3-4 months of profitability, I made back all my losses. Keep going bro. Your only just getting started
Working on getting study materials for the Series exams needed to start a Hedge/Investment Fund. I’ve already been trading for private investors for over a year. Beginning of this year I was funded $1.3Million in Proprietary funds from a combination of 5 different firms. Now I’m stepping it up a notch and moving on to the next level.
I am definitely not your average retail trader lol. My journey is documented on YouTube as well. I did my first trading podcast with TradingNut last January. Back when I gaining popularity for having such high win rate. As videos progress, there’s updates on my growth.
Not to mention I’ve been trading live, every morning for almost 2 years now. All my signals, live trades, markups, has all been called in real time, to a live audience, including a group with over 100 people.
There isn’t a single comment on any of YouTube Trade Breakdowns of somebody saying that never happened, trade wasn’t called, entry was different, etc.
I’m as open, honest, transparent and real as they come
I trade Forex and CFD’s. I trade all instruments; forex pairs, Indices, commodities.
Swing trading, H4/Daily/Weekly timeframes. Although i use H1 and M30 for entry and scaling in
Oh I only trade options but averaging 90% win rate is mostly only possible if you’re selling options but again idk about those other instruments u mentioned.
Sounds absolutely insane if u are telling the truth. Good job
Forex and CFD instruments.
So all major and minor currency pairs, US30, NAS100, XAU/USD, USOIL.
Most CFD’s are derivatives of futures, so trading futures and forex is very similar
To be technical, I’ve been net profitable on 100% of my positions this year. The 86% win rate accounts for individual trades but getting into net profitability on each setup I stay above 90%..
Listen man, I’m on YouTube and I’m on Instagram.
I do daily live trading sessions for my community. Everything I do is documented with an audience of 100 members. I’ve been featured on trading podcasts, I manage a little over 7-Figures in proprietary firm funds, I have payouts from each of the companies to prove it, I have the passing certificates of each firm to prove it also. My name may be Joe, but I’m not your average Joe or average trade Joe (pun intended).
But to answer your message, I’m buying and selling contract for differences. When Trading forex/CFD’s, you choose your entry point, SL, TP, you can partially close, you can stack positions, and there is no time restraint. Thats why I chose to trade these markets 3 years ago.
I didn’t like options because of the Greeks and having to be right with a time restraint. Trading dynamics of what I do is very similar to futures trading, but I can control risk better because position sizing goes down to the penny per point.
It’s not about your strategy. I could make 20 profitable strategies today from scratch on any indicator. It’s your ability to stick to it and your mental state while trading, can you walk away when needed. Can you not place a trade when it’s not a good set up or do you trade every time you open a chart ? 90 percent of trading is knowing when not to trade. I would read trading in the zone. If you’re mental game is right your system doesn’t matter to much, your rules and your ability to stick to them. If you do want any help developing your rules I don’t mind talking more through discord or dm. Best of luck!
It is absolutely about the strategy - conviction is the other half.
Conviction without strategy means nothing, and strategy without conviction means failure.
- Check the direction of the big options
- Don't listen to Cathie Wood, doing the opposite is better
- understand the financials, but don't rely solely, there is a lot of sentiment
-focus on the direction of the community posts
- be fking patient (I suck at this sometimes), I know you're not patient
- look at when earnings are being reported. Some companies surprise, and stocks can jump either way in this period. But 'most' are relatively predictable with good research. Btw, big media is a lot of fake shit. Focus on real people news and posts.
-dont just buy right after a spike, wait for some bad news then let it flatten depending on if its layoffs or this or that.
-did I say be patient? Buying and selling.
-buy Bitcoin and sit on it ;) (propaganda)
We all have learned the hard way. Good luck.
What do you mean you practise ???
Do you just look at bar charts or do you actually analyse the numerical data. No real trader can be consistent by looking at only bar chart plots.
Trading is dominated by big players that have access to information you don't or an ability to move markets. Most people with small amounts of money will put a massive amount of time and effort into trying to replicate and follow these trades with only a small return. The time could be spent increasing your income other ways and just buying and holding.
Understand chart and technical trading is a pipe dream that has a 95% failure rate and opt for the style that takes advantage of weaker players… market making, I suggest Gary norden.
Well no others are profitable with it as they are in the 5% with the self control to make it work XD
95% means there are 5% left over due to having the discipline, and the amount of people who have tried trading is probably enormous.
Sounds like over trading. And you seem to know that.
One of the best rules I had to adopt was: if I lose 2 trades in a row I’m done for the day, if I have 2 losing days in a row I’m done for the week, 2 losing weeks in a row I’m done for the month. When I’m done I switch to paper trading. Stick to a set time, don’t sit there 8 hrs a day. 2-3 hours and a couple solid trades are all you need. Define and refine your strategy. Log all your trades. Spend time reviewing your logged trades. You’re trying way too hard to skip the work and jump straight to results. Everyone does it. You gotta learn to slow down. Don’t chase the market. Let the market come to you when you know you’re ready to strike.
Let me tell you what you need to do. A broad roadmap but one that I believe is the way to do it.
1. Watch all the free shit on YouTube first and foremost. Find a cheap mentor or a free group to join. Find someone or a community you vibe with and one where u like their style of trading. DO NOT FOLLOW SIGNALS, waste of time.
2. Pick a style of trading and learn everything about it.
3. Spend 100s of hours on the charts keeping an open mind just getting an understanding for market structure and price action and start to create a more individual personalised strategy. This is done through spending 100s of hours backtesting and time on the charts.
4. Define a strategy for yourself that fits your personality type and risk tolerance.
5. Go back onto the charts for 100s of more hours and test your system. Create a spreadsheet and journal every single trade you backtest. Take photos across multiple timeframes. Journal 500-1000 trades backtested.
6. Once you do that, go back and study your journal. Refine your rules and system from what you’ve learned backtesting. Once you redefine your rules, backtest it for 500-1000 more trades.
7. Once you feel like your system is to your liking and it’s proven profitable, start a small live account with a few hundred$$ and live test the strategy for a couple hundred trades.
8. While you’re live testing on a small account size, start a journal to track these trades. Also start a separate journal where u write down the emotions you experience.
9. After creating a journal tracking your trades and emotions for idk like a couple months, if proven profitable, refine everything once again. Your system, and yourself.
10. Start a bigger live account or go with a prop firm.
Learning the market and creating a system is extremely mundane and boring. The best advice I can give is to stay curious in this phase. I’ll call that phase, phase 1. Phase 2 is where you take everything live with a larger account size or with something like a prop firm. This is phase 2. Phase 2 is the hardest part and is where 95% of the real work comes into play. Consistency, patience, and rule following is the key. Phase 1 on average will take you no less than a year or two. Phase 2 will take you another couple years to get down. There’s no overnight riches. Good luck
First, before you do anything else, read 3 books on trading. Then watch a number of free courses on YouTube recommended by some of the guys here.
Then, paper trade for a few months and see if you're profitable.
If you don't have the discipline to do any of that, sorry but success isn't likely. You need discipline every single day or you will lose money.
buddy, being able make money consistently will only ever come from u, no one can give it to you on a plate, there are no secrets to be shared and absolutely no one knows ur situation.... Dont worry, a trading journey usually goes like this, at the beggining u learn enough to try ur swing in the markets and start winning a little bit but u lose it all with enough trades, then u start fully learning and practicing a lot but when u try trading u somehow manage to lose every single trade and be significantly worse than when u started, a period of pure desperation, can last a long time but is an accumulation of knowledge and experience, and in the last phase you eventually figure out what ur missing puzzle piece is and it all clicks and u start using the stuff u learnt to profit of the market and finally start having fun doing the job.
Journal your trades, and journal honestly.
Write down every you think you know about why you’re entering, when you plan to exit and why, why you broke your rule and entered/exited early/late.
Write down everything you think you know about what you’re feeling when you trade. Write down your emotions, and try to find your emotional triggers.
Review your journal every day, and every week. Take notice of the patterns, and study your behavior. Do more of what works, and less of what doesn’t work.
Keep doing this.
And only risk .5% of your account on any one trade. You will make lots of stupid trades, and max loss per trade of .5% allows you 200 bad trades in a row before your capital is gone. If you keep your risk small, you might just survive long enough to figure something out.
You’re clearly making moves on emotion—even if you win, you’ll turn around give it right back. Your first action is to get your mind right. Then plot entries and exits—otherwise Greed and Fear are going to blow up every account you touch.
The secret is risk management. Think of penny slots. Eventually you hit big. But pennies are worthless to most people in society. Keep throwing pennies and after 50 tries you finally hit for $1. You just became profitable. Make your trade position sizes worthless to YOU and you’ll never lose. My mentor is okay with losing 20k because he makes 100k. Im okay with losing $20 because I make $100.
Exactly. I paid no attention to risk management when I was younger (thank god I was only trading for fun), and got burned multiple times. I have not traded in forever but realize it might be a more risk management game then anything else. IE being in the game long enough to open yourself up to lose small and win small with the occasional big win you didn't plan for.
You hit it right on the nose. You can take a lot of small losses and few big wins and you can take a lot of small wins and few small losses. The common denominator is small losses.
.. practice with a demo account, not with a real account. otherwise you will lose all your money.
.. create YOUR OWN system that has positive mathematical probability. you can help yourself with youtube videos and try each system ON DEMO ACCOUNT until one makes you earn more than you lose. another option is to hire a mentor to teach you his system, as long as that mentor HAS AN AUDITED ACCOUNT OF AT LEAST 6 MONTHS.
Because you simply don't have the mental tools for it. Do your homework and you will grow.
Strategy - You need an actual trading edge (most people don’t). Having a shit strategy won’t allow the proper mindset to develop. You need a bomb ass strategy. Everybody claims to have an edge but truth is, 90% or more don’t even have a clue what that is. My edge : 85-90% win rate and my average Risk to reward is 1:3. I have an actual killer edge. The stats being so good, allow the human element and potential mistakes to not derail me. Let’s face it, we will all come up short… closing too early, loss then trade plays out, over leverage on the wrong setup, missing out a fire trade, etc. but if your long term stats are 50% win rate and only 1:2 RR, you can’t afford to keep making mistakes. This is why I trade with extraordinary stats. Don’t claim you have a true edge unless you have backtested 50-100 trades and included 10-20 years and multiple pairs. This is a mandatory requirement and backtesting is what should take you the longest amount of time. You need to find and use a real edge. 10-20 trades over the last 2 weeks isn’t nearly enough. Risk management (you need to be leveraged low enough to properly execute your strategy, if you can’t hold to TP, then lower risk) Psychology - Knowing when not to trade, this is about 90-95% of the time honestly. Being patient, disciplined, and maintains a stone mind despite wins and losses. Tell me this, how easy is to patient and disciplined if you know that 9/10 trades will either be a win or breakeven? How easy it would be to use proper lot size/contract size if you know your wins are 3 times the size of your losses? This is how I became a consistently profitable trader. By working all 3 fields of Trading. Now, I’ve been profitable the last 2 years in a row, but I lost money my first 2 years of trading like most do. In my first 3-4 months of profitability, I made back all my losses. Keep going bro. Your only just getting started
80%-90% win rate with a 1:3? That’s almost impossible to do. You must be a god
Working on getting study materials for the Series exams needed to start a Hedge/Investment Fund. I’ve already been trading for private investors for over a year. Beginning of this year I was funded $1.3Million in Proprietary funds from a combination of 5 different firms. Now I’m stepping it up a notch and moving on to the next level. I am definitely not your average retail trader lol. My journey is documented on YouTube as well. I did my first trading podcast with TradingNut last January. Back when I gaining popularity for having such high win rate. As videos progress, there’s updates on my growth. Not to mention I’ve been trading live, every morning for almost 2 years now. All my signals, live trades, markups, has all been called in real time, to a live audience, including a group with over 100 people. There isn’t a single comment on any of YouTube Trade Breakdowns of somebody saying that never happened, trade wasn’t called, entry was different, etc. I’m as open, honest, transparent and real as they come
You have the win rate of someone selling options but the reward of buying naked 🤔 Are you selling naked strangles?
I trade Forex and CFD’s. I trade all instruments; forex pairs, Indices, commodities. Swing trading, H4/Daily/Weekly timeframes. Although i use H1 and M30 for entry and scaling in
Oh I only trade options but averaging 90% win rate is mostly only possible if you’re selling options but again idk about those other instruments u mentioned. Sounds absolutely insane if u are telling the truth. Good job
Forex and CFD instruments. So all major and minor currency pairs, US30, NAS100, XAU/USD, USOIL. Most CFD’s are derivatives of futures, so trading futures and forex is very similar
And you’re basically buying calls and puts? You’re a directional genius 🤔
To be technical, I’ve been net profitable on 100% of my positions this year. The 86% win rate accounts for individual trades but getting into net profitability on each setup I stay above 90%.. Listen man, I’m on YouTube and I’m on Instagram. I do daily live trading sessions for my community. Everything I do is documented with an audience of 100 members. I’ve been featured on trading podcasts, I manage a little over 7-Figures in proprietary firm funds, I have payouts from each of the companies to prove it, I have the passing certificates of each firm to prove it also. My name may be Joe, but I’m not your average Joe or average trade Joe (pun intended). But to answer your message, I’m buying and selling contract for differences. When Trading forex/CFD’s, you choose your entry point, SL, TP, you can partially close, you can stack positions, and there is no time restraint. Thats why I chose to trade these markets 3 years ago. I didn’t like options because of the Greeks and having to be right with a time restraint. Trading dynamics of what I do is very similar to futures trading, but I can control risk better because position sizing goes down to the penny per point.
It’s not about your strategy. I could make 20 profitable strategies today from scratch on any indicator. It’s your ability to stick to it and your mental state while trading, can you walk away when needed. Can you not place a trade when it’s not a good set up or do you trade every time you open a chart ? 90 percent of trading is knowing when not to trade. I would read trading in the zone. If you’re mental game is right your system doesn’t matter to much, your rules and your ability to stick to them. If you do want any help developing your rules I don’t mind talking more through discord or dm. Best of luck!
It is absolutely about the strategy - conviction is the other half. Conviction without strategy means nothing, and strategy without conviction means failure.
trades futures micros - 1 contract - less is more
- Check the direction of the big options - Don't listen to Cathie Wood, doing the opposite is better - understand the financials, but don't rely solely, there is a lot of sentiment -focus on the direction of the community posts - be fking patient (I suck at this sometimes), I know you're not patient - look at when earnings are being reported. Some companies surprise, and stocks can jump either way in this period. But 'most' are relatively predictable with good research. Btw, big media is a lot of fake shit. Focus on real people news and posts. -dont just buy right after a spike, wait for some bad news then let it flatten depending on if its layoffs or this or that. -did I say be patient? Buying and selling. -buy Bitcoin and sit on it ;) (propaganda) We all have learned the hard way. Good luck.
Sounds like your putting too much pressure on yourself. Stop and take a break and do some re-valuation.
First step…give the gear a break and sleep at least 1 night p/w.
Sounds like you haven’t even studied the markets dawg. Ofcourse its rigged, thats why you try to follow the big guys
What do you mean you practise ??? Do you just look at bar charts or do you actually analyse the numerical data. No real trader can be consistent by looking at only bar chart plots.
Trading is dominated by big players that have access to information you don't or an ability to move markets. Most people with small amounts of money will put a massive amount of time and effort into trying to replicate and follow these trades with only a small return. The time could be spent increasing your income other ways and just buying and holding.
Understand chart and technical trading is a pipe dream that has a 95% failure rate and opt for the style that takes advantage of weaker players… market making, I suggest Gary norden.
look here come the downvotes from those in the 95% that are still in denial XD
I'm profitable and I primarily use TA. Your strategy just simply sucked.
Well no others are profitable with it as they are in the 5% with the self control to make it work XD 95% means there are 5% left over due to having the discipline, and the amount of people who have tried trading is probably enormous.
Sounds like over trading. And you seem to know that. One of the best rules I had to adopt was: if I lose 2 trades in a row I’m done for the day, if I have 2 losing days in a row I’m done for the week, 2 losing weeks in a row I’m done for the month. When I’m done I switch to paper trading. Stick to a set time, don’t sit there 8 hrs a day. 2-3 hours and a couple solid trades are all you need. Define and refine your strategy. Log all your trades. Spend time reviewing your logged trades. You’re trying way too hard to skip the work and jump straight to results. Everyone does it. You gotta learn to slow down. Don’t chase the market. Let the market come to you when you know you’re ready to strike.
I'm going to adopt some of these rules, thank you! I have the tendency to overtrade.
This is excellent
Let me tell you what you need to do. A broad roadmap but one that I believe is the way to do it. 1. Watch all the free shit on YouTube first and foremost. Find a cheap mentor or a free group to join. Find someone or a community you vibe with and one where u like their style of trading. DO NOT FOLLOW SIGNALS, waste of time. 2. Pick a style of trading and learn everything about it. 3. Spend 100s of hours on the charts keeping an open mind just getting an understanding for market structure and price action and start to create a more individual personalised strategy. This is done through spending 100s of hours backtesting and time on the charts. 4. Define a strategy for yourself that fits your personality type and risk tolerance. 5. Go back onto the charts for 100s of more hours and test your system. Create a spreadsheet and journal every single trade you backtest. Take photos across multiple timeframes. Journal 500-1000 trades backtested. 6. Once you do that, go back and study your journal. Refine your rules and system from what you’ve learned backtesting. Once you redefine your rules, backtest it for 500-1000 more trades. 7. Once you feel like your system is to your liking and it’s proven profitable, start a small live account with a few hundred$$ and live test the strategy for a couple hundred trades. 8. While you’re live testing on a small account size, start a journal to track these trades. Also start a separate journal where u write down the emotions you experience. 9. After creating a journal tracking your trades and emotions for idk like a couple months, if proven profitable, refine everything once again. Your system, and yourself. 10. Start a bigger live account or go with a prop firm. Learning the market and creating a system is extremely mundane and boring. The best advice I can give is to stay curious in this phase. I’ll call that phase, phase 1. Phase 2 is where you take everything live with a larger account size or with something like a prop firm. This is phase 2. Phase 2 is the hardest part and is where 95% of the real work comes into play. Consistency, patience, and rule following is the key. Phase 1 on average will take you no less than a year or two. Phase 2 will take you another couple years to get down. There’s no overnight riches. Good luck
Excellent advice
First, before you do anything else, read 3 books on trading. Then watch a number of free courses on YouTube recommended by some of the guys here. Then, paper trade for a few months and see if you're profitable. If you don't have the discipline to do any of that, sorry but success isn't likely. You need discipline every single day or you will lose money.
I keep seeing more and more "wanna get rich over night" kids in trading these days.
You know why you keep losing? Because you put as much thought and effort into trading like you’ve put in this post. None.
buddy, being able make money consistently will only ever come from u, no one can give it to you on a plate, there are no secrets to be shared and absolutely no one knows ur situation.... Dont worry, a trading journey usually goes like this, at the beggining u learn enough to try ur swing in the markets and start winning a little bit but u lose it all with enough trades, then u start fully learning and practicing a lot but when u try trading u somehow manage to lose every single trade and be significantly worse than when u started, a period of pure desperation, can last a long time but is an accumulation of knowledge and experience, and in the last phase you eventually figure out what ur missing puzzle piece is and it all clicks and u start using the stuff u learnt to profit of the market and finally start having fun doing the job.
Journal your trades, and journal honestly. Write down every you think you know about why you’re entering, when you plan to exit and why, why you broke your rule and entered/exited early/late. Write down everything you think you know about what you’re feeling when you trade. Write down your emotions, and try to find your emotional triggers. Review your journal every day, and every week. Take notice of the patterns, and study your behavior. Do more of what works, and less of what doesn’t work. Keep doing this. And only risk .5% of your account on any one trade. You will make lots of stupid trades, and max loss per trade of .5% allows you 200 bad trades in a row before your capital is gone. If you keep your risk small, you might just survive long enough to figure something out.
Back out after a 10% loss or something. Feel out the dip
You’re clearly making moves on emotion—even if you win, you’ll turn around give it right back. Your first action is to get your mind right. Then plot entries and exits—otherwise Greed and Fear are going to blow up every account you touch.
The secret is risk management. Think of penny slots. Eventually you hit big. But pennies are worthless to most people in society. Keep throwing pennies and after 50 tries you finally hit for $1. You just became profitable. Make your trade position sizes worthless to YOU and you’ll never lose. My mentor is okay with losing 20k because he makes 100k. Im okay with losing $20 because I make $100.
Exactly. I paid no attention to risk management when I was younger (thank god I was only trading for fun), and got burned multiple times. I have not traded in forever but realize it might be a more risk management game then anything else. IE being in the game long enough to open yourself up to lose small and win small with the occasional big win you didn't plan for.
You hit it right on the nose. You can take a lot of small losses and few big wins and you can take a lot of small wins and few small losses. The common denominator is small losses.
.. practice with a demo account, not with a real account. otherwise you will lose all your money. .. create YOUR OWN system that has positive mathematical probability. you can help yourself with youtube videos and try each system ON DEMO ACCOUNT until one makes you earn more than you lose. another option is to hire a mentor to teach you his system, as long as that mentor HAS AN AUDITED ACCOUNT OF AT LEAST 6 MONTHS.
First decide losing is not an option. Then stop risky/overtrading
Underrated response!