Aliassmith Beats a "Dead Horse"

[aliassmith]

You are a perfectionist. I get it, because I’m one.

But for me, I never fall in love with a particular strategy because I came to the market to make money. That has been my goal and that’s the only thing that will never change when it comes to the trading business. So whenever I learn something that is good I try to incorporate it into my existing ways to trade and I keep a journal of each changes to keep track or even revert to when things aren’t going well.

There are different stats in a trading performance and hit rate is just one of them. For me, I focus my attention on % gain and everything else can be changed (to a certain point) if it means I can have additional bump on % profit.

What baffles me though, why the heck do traders with a supposedly high win rate is afraid to risk big? I mean the goal of having a high win rate is for you to be sure that when you enter a trade you will come out with profit, right? So, if you a strong stats to back you up then what are you afraid of? It’s pretty hillarious if you think about it. From this, I think what you really need is not changing your trading strategy. You need to strengthen your mental fortitude. Seriously, dude. Learn to be bold, learn to be brave, and your newly stronger results will follow. Trust me (or don’t).

I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.

My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.

Question for you guys. Asmith and Don, I've seen you mention S/D in your trading. Doji you talk about momo breaking momo. Besides from Sam S. Is there anyone else or any website that has helped your knowledge in S/D trading? ICT claims he isn't S/D trading, but it definitely has some characteristics. Just wondering. Thinking about putting together my own "odds enhancer" type list. Was never a huge fan of the one Sam released. And now that his dumbass got sued or whatever, not really anyone teaches it. Thanks guys

Same answer as Don, here and there.

[Mr. Hyde]

I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.

My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.

Question for you guys. Asmith and Don, I've seen you mention S/D in your trading. Doji you talk about momo breaking momo. Besides from Sam S. Is there anyone else or any website that has helped your knowledge in S/D trading? ICT claims he isn't S/D trading, but it definitely has some characteristics. Just wondering. Thinking about putting together my own "odds enhancer" type list. Was never a huge fan of the one Sam released. And now that his dumbass got sued or whatever, not really anyone teaches it. Thanks guys

Same answer as Don, here and there.

Yeah, that's kinda what I figured. It seems to be the one concept that isn't written about much. Almost all the info is just parroted stuff my SS. And honestly I wasn't really impressed with his stuff. Maybe I was doing something wrong

[Mr. Hyde]

I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.

My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.

Question for you guys. Asmith and Don, I've seen you mention S/D in your trading. Doji you talk about momo breaking momo. Besides from Sam S. Is there anyone else or any website that has helped your knowledge in S/D trading? ICT claims he isn't S/D trading, but it definitely has some characteristics. Just wondering. Thinking about putting together my own "odds enhancer" type list. Was never a huge fan of the one Sam released. And now that his dumbass got sued or whatever, not really anyone teaches it. Thanks guys

Owh but I already openly mentioned it, RTM (Readthemarketdotcom).

But I also travel the vast worldwideweb for some gold nuggets here and there so I don’t exactly remember where I get this and that. That’s why I need my WIL book to write down my findings (though not necesarrily about where I found them). My memories will fail me (when it comes to details) some day but books won’t.

ICT’s FVG is late. Can’t beat S/D when it comes to catching tops and bottom. Compared it on so many charts now. S/D will be there first. Still, I could be proven wrong.

Thanks. Yeah nothing beats S/D in my opinion. Actually wasn't so much talking about FVG, more so his order block concept. He doesn't talk much about it in the mentorship. But it does correlate to how I look for my zones

[dojirock]

You are a perfectionist. I get it, because I’m one.

But for me, I never fall in love with a particular strategy because I came to the market to make money. That has been my goal and that’s the only thing that will never change when it comes to the trading business. So whenever I learn something that is good I try to incorporate it into my existing ways to trade and I keep a journal of each changes to keep track or even revert to when things aren’t going well.

There are different stats in a trading performance and hit rate is just one of them. For me, I focus my attention on % gain and everything else can be changed (to a certain point) if it means I can have additional bump on % profit.

What baffles me though, why the heck do traders with a supposedly high win rate is afraid to risk big? I mean the goal of having a high win rate is for you to be sure that when you enter a trade you will come out with profit, right? So, if you a strong stats to back you up then what are you afraid of? It’s pretty hillarious if you think about it. From this, I think what you really need is not changing your trading strategy. You need to strengthen your mental fortitude. Seriously, dude. Learn to be bold, learn to be brave, and your newly stronger results will follow. Trust me (or don’t).

I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.

My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.

So sorry your post was also quoted. It’s directed toward dojirock who has a higher hit rate than yours.

I don’t know how you treat your trading account overall but if you lose 6 times in a row then you are obviously overtrading or forcing your trades. I’ve lost more than that in a day (not taking 10% per trade though) but never that many consecutively. Maybe it has something to do with your sub 1 R trades. Long losing streak is bad, mentally.

This is what i'm working on. In hindsight my kryptonite was always watching the $$$$. I'm a scalper, and spend what I make every month. It is completely a mind over matter that I need to learn to harness. going from 1-5 lots to 20-30 lots, affects my whole trading plan because I have always watched the $$$$$ (echo's of Mo, don't watch the $$$$). I have always wanted to take the money and run or fear sets in and I moved stops when the lots get big despite of my win rate. I am now with the intention in giving up my win rate per say, buy throwing 10% to 15% of it out to put a stop loss in place and set a target and walk away. I slayed the 1st beast and now working on the second beast. I have an idea already of what the third beast is going to be for me, is building my own account.
there are parallels to traders that spend all their trading journey looking at money management and R:R vs entries and setups. They have awesome R:R's but much lower win rates. My focus was always win rates, hence there degree of excellency! now its time to sacrifice some to feed the other and really improve the balance. I don't have expectations of percentages on sl or tp. Only to build them and accumulate. I don't use R:R to dictate my sl or tp, only to see the result from my predefined sl and tp and try to improve on them by improving my entries.

-doji

[dojirock]

This is helping me build by confidence.
Left side of chart is the win rate %
Top is number of losing trades in a row.

You want to be in the red zone. In this pic Red is good.
There is no 100% or 0%, those are rounded to tenths.
I'm sure Tro is aware of stats like these already.

If you have a success rate of 80% you would have a 32% chance of having 3 losses in a row.
7.2% chance of having 4 losses in a row.
You bet your bottom dollar I will be increasing my lot size for the next trade! A 1.5% of having 5 losses in a row.

Found this very interesting.

Screenshot 2022-05-09 142343.jpg (165.76 KiB) Viewed 1913 times

-doji

[dojirock]

Seems like i'm the only one that trades the Asian session.

[aliassmith]

Seems like i'm the only one that trades the Asian session.

I don't trade asia session often unless it is right before Frankfurt. I've been trading US mornings more recently.

[aliassmith]

This is helping me build by confidence.
Left side of chart is the win rate %
Top is number of losing trades in a row.

You want to be in the red zone. In this pic Red is good.
There is no 100% or 0%, those are rounded to tenths.
I'm sure Tro is aware of stats like these already.

If you have a success rate of 80% you would have a 32% chance of having 3 losses in a row.
7.2% chance of having 4 losses in a row.
You bet your bottom dollar I will be increasing my lot size for the next trade! A 1.5% of having 5 losses in a row.

Found this very interesting.
Screenshot 2022-05-09 142343.jpg
-doji

I have studied these stats before along with risk of ruin.

[aliassmith]

I don't risk 10% per trade because I know I can lose 6 trades in a row. Im not a fan of losing half of my account. I will however use various forms of risk gearing.

My strategy is a base strategy with variations. Although I show that DeadHorse often here I have several ways I observe the price action and triggers. I will use S/D along with structure. Plus Im always studying.

So sorry your post was also quoted. It’s directed toward dojirock who has a higher hit rate than yours.

I don’t know how you treat your trading account overall but if you lose 6 times in a row then you are obviously overtrading or forcing your trades. I’ve lost more than that in a day (not taking 10% per trade though) but never that many consecutively. Maybe it has something to do with your sub 1 R trades. Long losing streak is bad, mentally.

This is what i'm working on. In hindsight my kryptonite was always watching the $$$$. I'm a scalper, and spend what I make every month. It is completely a mind over matter that I need to learn to harness. going from 1-5 lots to 20-30 lots, affects my whole trading plan because I have always watched the $$$$$ (echo's of Mo, don't watch the $$$$). I have always wanted to take the money and run or fear sets in and I moved stops when the lots get big despite of my win rate. I am now with the intention in giving up my win rate per say, buy throwing 10% to 15% of it out to put a stop loss in place and set a target and walk away. I slayed the 1st beast and now working on the second beast. I have an idea already of what the third beast is going to be for me, is building my own account.
there are parallels to traders that spend all their trading journey looking at money management and R:R vs entries and setups. They have awesome R:R's but much lower win rates. My focus was always win rates, hence there degree of excellency! now its time to sacrifice some to feed the other and really improve the balance. I don't have expectations of percentages on sl or tp. Only to build them and accumulate. I don't use R:R to dictate my sl or tp, only to see the result from my predefined sl and tp and try to improve on them by improving my entries.

-doji

I watch the money also. To increase my lot size I increased a little at a time to get conditioned.

1 2 5 7 10 15 20 25 30 40 50 60 70 80 90 100.....
If I am doing anything over 50 I will do two half size orders or three 1/3 orders.

[aliassmith]

Question for you guys. Asmith and Don, I've seen you mention S/D in your trading. Doji you talk about momo breaking momo. Besides from Sam S. Is there anyone else or any website that has helped your knowledge in S/D trading? ICT claims he isn't S/D trading, but it definitely has some characteristics. Just wondering. Thinking about putting together my own "odds enhancer" type list. Was never a huge fan of the one Sam released. And now that his dumbass got sued or whatever, not really anyone teaches it. Thanks guys

Same answer as Don, here and there.

Yeah, that's kinda what I figured. It seems to be the one concept that isn't written about much. Almost all the info is just parroted stuff my SS. And honestly I wasn't really impressed with his stuff. Maybe I was doing something wrong

My greatest S/D impression came from MightyOne. He explained his view of orderflow and where orders will probably be stacked. From there I have studied a lot of charts based on those ideas.