Mira wrote:No, but I should.
i mean they help
but stats are not there to play stats
they are there to help you look differently at stuff
and maybe see things more objectively
ultimately you want the market to teach you how to trade
you know the drill
Btw I think that you’re right, it’s ok to have small losses but I have no edge if I have small wins too.. if I’m understanding right your words.
Thank you Pawel!
you already see the stuff that most dont
even when you lose a trade you can see what went wrong ---- thats huge
you say that you stay around breakeven ---- thats better then 90% of the traders
i think you are really close
also the fact that you were about to quit means that you are one fkn step away
there is no one thing i can say that will set you up
even sitting live with someone doesnt do the trick
i tried to teach multiple friends ---- doesnt work
you need to be stupid enough to sit for 10 years and watch the paint dry
it doesnt even work with people who already are profitable
i remember trading with the guy who was killing calendar spreads on interest rates (euribor, short sterling and swiss)
he showed me exactly what he does
i sat down and sucked arse for 5 hours
then he sat down clicked for an hour and 1000 pounds just appeared
very methodical ---- never really risking money
calendar spreads on interest rates are barely moving
in my opinion you need to be more reactive (I WOULDNT ADVISE THAT TO JUST ANYONE ---- YOU CAN BECAUSE YOU SEE STUFF)
its easy to say: "increase your r:r ratio and you're good"
but i find it as useful as saying: "your lady not satisfied? increase your dck size"
as ULTIMATE TRADER Dragon33 once said (i paraphrase now): "going always for more then 1:1 will kill your account"
sometimes you close for 1:0,5 or less ---- and its great
and sometimes you just need to look her in the eyes and say: "sorry but there is no more dck, if you want i can tuck my balls in"
that got uncomfortable rather quickly
you said that sometimes you dont even get 1 trade a day
no wonder you then "fall in love with the trade"
it causes a lot of unnecessary obstacles
i want you to go lower on the time frames
scale sht down
if you now use H1 for bias and M15 for entry
switch to M15 for bias and M5 for entry
or M5 for bias and M1 for entry
do the same but lower ---- this is more or less fractal
MAKE SURE you get at least 5 opportunities a day ---- the more the better
so at any point you can just say: "fk it" and BE SURE that another one is around the corner
not feeling like you're losing 40 hours of waiting for a 1 tick move
killing two birds with one stone kinda situation
you get rid of the fear of missing out AND you get more involvement which is good for getting that tasty screentime
now the other thing
anywhere on the chart
99% of the time when you buy or sell you immediately go into opposite level
EVERY TICK price moves one side loses SHTLOAD of money
there are levels on top of levels on top of levels
so keep that in mind that you basically bet on one fat finger to outsmart another
but in the end of the day market will move hundreds of ticks
and when you'll look back at it IT'LL MAKE SENSE
as es/pip once said: "when i trade i look at the chart in real time and try and view it in the past.
I trade on what is happening but i look to target/trade at the same time the way i would picture what is going to happen in a past tense sort of way"
you've seen thousands of reversals
thousands of breakouts
thousands of fakeouts
let your brain do the work for you
you need to imagine what will happen and how it'll look like and trade that
if it deviates too much ---- you bail
i got stats on my own on this
thats why i use my version of "time stops"
i want to see stuff going the way i want to in ~time i want it to happen
i lose almost 80% of the time when i wait
when things are going differently than i anticipated
try to think like a market maker
why does momentum pullback work?
becasue people who were in the initial move are taking profits at the top ---- so it pulls back
and when it pulls back everybody wants to join around the "initial price"
why is the pullback depth different each time?
because its always the game of who has the shortest fuse
the first big dude starts clicking and the rest follows (fear of missing out)
why support works?
because there is a dude accumulating
why it sometimes bounces higher then the support level?
because we got front runners who want to get in and are afraid of others buying before them
why it sometimes goes deeper?
because the market maker is not stupid ---- if they want to sell him at a lower price he'll take it
he wont guard the level just because it is there
(i mean he will if he knows that sell stops below will be too much for him to buy ---- but thats another story)
when it flips back above the level the boys who were selling are trapped ---- they take the loss, he cashes the fk out
there are various scenarios
this is simplified of course
but you know what i mean
i used to trade for one of the biggest polish energy firms
we had more energy to buy/sell than there was available on the daily basis
we were pushing the fkn market around
when you do 60 - 70% of the daily market volume
you need to hide orders, create false levels, spoof ---- super stressful
there is similar piece of sht hidden in every market there is
i dont want to complicate it anymore
dont try to trade what i said ---- its untradable on its own
just keep it in mind
stick with what you do
you got it!
scale down time frames and be more reactive
as another LEGEND Aliassmith said recently (paraphrasing once again): "sometimes you just close the trade because you feel like it"
and please post what you get
lets make this sht happen
now imagine i click submit and get logged out
sweet mother of god i would cry like a btch