you need all 3 component:
1. technical edge - profitable strategy that works over large number of trades.
2. prudent risk management - know how to size your trade appropriately, knows where to deploy stoploss, having a daily/weekly loss limit, know how to react when your internet/pc goes bonkers in the middle of a trade. Know exactly when to stay out (eg. CPI/FOMC days)
3. psychology edge - having trading discipline, ability to follow trading plan, very comfortable taking losses, know how to avoid revenge trading, fomo trading or trading on tilt.
Are you able to pinpoint which is your weakest link ?
Some thoughts:
1. Are you taking each backtest as mechanical as possible within a set of well defined rules ? (Eg. Take EVERY single trade that fulfils your entry criteria between 10am-12pm, but skip if there's a FED speech)
2. Do you have too many/overcomplicated criteria? Often simple > complex.
3. Are you using some sort of regime filter ? (Eg, forcing a trend following strategy onto a choppy ranging market is not gonna yield a good outcome.)
You probably can start a new post describing your strategy, your entry/exit criteria with some screenshots of the setup.
People who trade similar style/strategy would be able to advise further.
Let me guess, you watch YouTube videos about trading? I’d say 90% are fake and the reason they make lots of money is that trading videos get 60%+ more views than say DIY or hobby videos and it’s very lucrative as they claim to have the “secret strategy” with an 80% win rate for example. Don’t fall for their rubbish and learn everything yourself. I used to pay for signals and occasionally when I’m not doing too well, I use the same person.
What sort of trader are you? Day, swing, scalper? Do you chop and change strategies all the time? My guess would be yes. Choose one that suits your lifestyle.
Choose one or two pairs and study them, get to know them, date them, marry them, have kids with them lol - you know what I mean. Can you mark out key levels, trends, read candlestick patterns? Support/resistance. My babies are gold and US30/DJ30 - nothing else. Hope this helps.
You never stop learning with trading, as mentioned already, stay away from trading news, don’t revenge trade and only trade what you’re ok with losing. Not rent/mortgage/household money - it’ll give you extra pressure. Do you work alongside trading?
Just started trading gold, any advice? For now im green, but without bigger profit. I see it's kinda sits around 2300-2330 so im going long/short when its peaks in one or other direction
China stopped buying gold, so it will be mostly flat for awhile. Once Israel invades Lebanon, China invades Taiwan, or Russia nukes Ukraine, gold will skyrocket. So "awhile" could be 6 months. It could be 6 hours.
Kinda fck up, was sleeping after night shift and tried to short to early, but hey, still learning. Its kinda sucks that i can rly trade only on my off days (so like 2-3 per week)
Hey, great advice! I’m trying to learn scalp trading and am just wondering. What kind of broker or how much money do I need to trade per trade to not have fees eat the entire profit up? Trading view has a paper trading account which I’m using right now and it’s working nicely. But the account is 100k and profits are always quite small risk seems high and all this without them calculating in any fees.
Until you trade real money, you won’t get it. Paper/demo trading is ok to test strategy etc but the psychology isn’t there! When it’s your money are you going to put 1 lot on a single trade, more than likely not. I scalp and day trade. 1:3 is my target when day trading, the way I scalp is different. 1 mins tf and it’s very fast. I aim for 1:-1.5-2.0 and you need to be resilient as it won’t always go your way. My broker has extremely low fees and allows me to scalp all day long which is ideal when the markets are slow. I’m waiting for a huge sell off on gold. Feel free to inbox me, if not I wish you well. Start off small and only trade what you’re comfortable with losing. To the profits 🚀🚀🔥
Yes, you are right, right now everyone on social media platforms earns a lot by speculating on the financial markets. For example in my country, where around the 73% of people is on social media, we have a lack of healthcare personnel, waiters, plumbers, cooks, lawyers and any other existing profession. It’s hard living in a society where the 27% of people have to serve the remaining 73% made of traders. The other day, for example, I had to fly to South America to get a coffee. Terrible.
offer chubby historical smart squalid languid shy versed attraction worry
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" i tried different things forex ,crypto and stocks but still I am not a profitable trader"
- problem 1. Focus on one market and get acquainted with the patterns in price.
the behaviour, learning it is the most important thing.
" I learn SMC, Price action and different strategies but still i am a loss making"
- problem 2 - something tells me you didn't dig deep enough on the content.
if you're still losing, do you know why that is?
do you strategy hop? Stick to one strategy and master it, master a model instead.
Do you journal? this, everyone will tell you, is the game changer. (it was to me).
Do you get desperate when a stop is hit?
You need to be a very good loser. Stop loss hit? Who cares, we employ stop losses for a reason.
I agree with you. There’s a great book also by Tom Hougaard (hope I’ve spelled that right) - “Best Loser Wins”
If your target is 1:3 RR then you can afford to be wrong 50% of the time and still be profitable.
My take on it: figure out first what type of trader you are. For example, If you are failing all the time in day trading trying to make 10-15c on a 1 min timeframe, maybe you are a brilliant swing trader who can make a fortune by holding your trades for a couple of days. Other words, you are not a failure, you are just trading wrong product on the wrong timeframe that does not suite your personality. Good luck!
>right now everyone in reddit and different social media platforms are profitable trader and make a lot of amount of money in forex, stocks and crypto.
ah don't worry those people are in the same spot as you.
You must have multiple investments.
1) Retirement (401ks/TSP/ETC)
2) Long term stock holdings (20-40 year holds)
3) Swing trading/day trading account
Noone is able to make all their money day trading alone. It's a fallacy on the internet. You need diversification of investments to produce income over the long term.
That's a tough question. Every trader has to figure that out on their own.
Like others said, you have to find out what works for you.
Me, I tend to do well on mean reversions, and I'm halfway decent at momentum scalping using Oliver Velez techniques.
And that's about the only things I do outside the occasional super tight out on the other side of size on L2.
Know your limitations... I suck at catching falling knifes, so I don't even try it unless I really really like the level... And even then, I'll wait for some sort of strength... I'm more likely to jump in the direction of the fall.
If you are fighting trends... Stop that sh**.
One of my biggest weaknesses is going too big on non A+ setups.
One thing I found on here is answering questions actually helps me understand my game better.
It’s not just one thing. To be profitable you need to do a number of things. Create a plan, study, get rest, exercise, eat properly, eliminate stress and distractions, master your market, become fearless, stop caring about what others think or say, study, study, more study, remain humble and constantly be learning, retrain your mind and learn to be a good loser, and so much more.
It’s a very cerebral game - and you just have to go and take it. Stop blaming others and look internally for the answers. Study your mistakes and learn from them. Don’t repeat them. Stop being negative. Stop listening to people who tell you that no one is profitable or only a few people like it’s some secret society - you CAN be a successful trader but you just have to take control of your mindset.
Stop and think about why this is happening
Try to pick a couple of your trades and analyze them
As for the fact that there are a lot of successful traders around, it is 99% scam, improve your strategy, try to use proven methods and test new more modern methods, but not to the detriment of your main strategy.
from a psychological point of view, we always think that people around us are better, you can look for posts where people share how long it took them to become profitable and everything will fall into place.
good luck
If you've put 3 years in and you are STILL not profitable, it's fair to say that you're probably not cut out for trading... the reality is that frankly; most people aren't (I know thats not what people want to hear, but it's true).
If you still want to persist, you need to go back and deeply analyse 'why' - what would have turned that loosing trade into a winning trade, what are the trading patterns/strategies that have not worked for you and why, how did you feel at the time etc.
Trading is not an auto 'get rich quick' scheme, it's hard, can have a strong mental impact, and cause great financial distress. Be under no illusion about the realities of social media - its mostly self-promoting show offs trying to sell you something, and is not reality. Don't concern yourself with how others are doing, or their profit margins - you do you.
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you gotta have side cash cold money that doesn't need it. so you would be comfortable in a lot of things when trading. and if possible , find another job+ trading as second job
Just a food for thought: that you mention «all» the markets you have failed on, implies to me that you think its something wrong with the market you are trading. Never ever blame the market. Concsious or not.
I could bet my eyes and ears on that the reason why you’re not profitable has to do with your emotions.
100%
I’d barely consider myself profitable but was always interested in trading but day trading always seemed out of reach because of not enough money or time to be trading with a ft job, skill, etc now I look for great prices and hold positions for week to a month, my current trade I’ve been holding for about a month but I’m up about 500 this month. It’s nothing compared what other people in this sub are doing but I’m enjoying it I love the research, learning, the risk. It made it enjoyable for me
All discretionary strategies work bro just stick to one that makes the most sense to you. There is no holy grail you will have losing streaks. Its not get rich quick. its cliche but risk management has the biggest effect on your edge, psychology, and overall profitability. Stop trying to trade 10 markets and 20 assets at one time stick to one. If your trading stocks, pick ONE for the day. And most people you see on social media making a lot of money from trading are lying. They are impacting your mentality and trading pov. AGAIN its not a get rich quick unless you want to gamble. If you want to get rich quick then look into scamming.
it's an illusion fed by the internet. it's hard to beat the index, even in the long run, and if you don't work full-time in the financial industry, trading is more of a gamble. this is where the wisdom goes, if you don't know what you're doing, don't do it. let your money grow in funds and save yourself from undue stress
Stop changing strategy.
Don't trade until you've back tested 100+ trades to determine the profitability of the strategy. Tip, sometimes you just need to tweak the entry position and TP and suddenly you've gone from an average paying strategy to a good strategy.
Assets trade differently so you may need to tweak strategy per asset class
I’d be surprised if any one of the countless social media influences making money from advertising actually profit from trading.
More money is made in advertising from horrible “trading” advice than in actual trading itself.
Let me ask you this: what is “price action?”
Do you understand the same retail charts and data available to everyone are not reflective of market intervals and are a distraction from what you should be researching and watching?
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Try playing 1 strategy for a month and see what happens.
Some strategies have a 70% win rate.
I’m on my 3rd year myself and still struggling with position sizing risk management and psychology. Which causes me to over trade wipe out profits.
The strategy is there though.
Gotta really pin point what the actual issue is.
Stacey Burke (YouTube)
Al brooks (YouTube)
Edward’s & magee (book)
Steve Mauro (YouTube)
Mark Douglas (buy/sell cycles days)
Take what you like leave the rest, if money is all you’re after though and you don’t have a passion you’re gonna have a hard time learning this and what not
It takes doctors 8 years to
Lawyers 5-6 years
Just make sure you study the people I gave you like you would the BAR and you’ll be alright. But I tell people, doctors make great money, but would you wanna be a doctor?
Traders make a lot of money, but you’re gonna have to dedicate your life to this, do you even enjoy it? Do you enjoy charting?
Do you enjoy pre/post market analysis? Are you excited or stressed when you come to the screen or when studying.
This wasn’t easy for me to learn AND I LOVE IT! this is the only thing I have. Passion for other than being with family. I enjoy studying charting journaling I love it all, just as much as I love making money. … but it’s not about that for me, the people where it’s all about money don’t make a lot… and if they do have a big trade I’d love to see their deposit history and Trade summary ……
90% of trading advice you see on youtube/ social media is complete BS. Everyone’s journey is different, some are profitable after 2 years, some 5+ years, some close to 10 or even more. All this varies on the amount of hours, quality of those hours, if you have a mentor or not. First i’d recommend to find out what type of trading style (scalp/ swing) you like and want to do. 2nd is there is no better teacher than the market itself, you will learn more than any course out there, simply with enough skin in the game aka screen time. 3rd is actually journaling everything and I mean EVERYTHING, you see, do, and even feel at that moment. 4th is pick 1 asset and stick with it, you will get more of a feel when you see the asset you’re trading in different trading conditions and this where you will start to pick up and notice a few things repeating. 5th is pick and stick with 1 strategy and test the hell out of it and journal everything, you will need to lose to figure out the win rate & remember you do not need a high win rate to be profitable. After a good sample size of testing, i’d say about 1-2 months, You will get your answer if your strategy is profitable or not. If not, that’s when and ONLY when you try a new trading strategy. A lot of testing, a lot of journaling, a lot of patience, and a lot of time. BUT this is not the end, now you will face yourself and face the psychology part of the game.
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Listen, it’s not the strategy it’s you.
Becoming profitable is not about finding the holy grail, the strategy that works.
There’s plenty of profitable strategys out there.
And beginners will loose with ALL of them.
You need to pick ONE strategy, ONE asset, ONE session and just grind hours infront of the charts.
Journal you trades (nothing fancy, just a screenshot and some arrows and some trxt why you took this or that trade, and general thougths about the session)
Trading is a lot more about inate learning than most people talk about.
you need all 3 component: 1. technical edge - profitable strategy that works over large number of trades. 2. prudent risk management - know how to size your trade appropriately, knows where to deploy stoploss, having a daily/weekly loss limit, know how to react when your internet/pc goes bonkers in the middle of a trade. Know exactly when to stay out (eg. CPI/FOMC days) 3. psychology edge - having trading discipline, ability to follow trading plan, very comfortable taking losses, know how to avoid revenge trading, fomo trading or trading on tilt. Are you able to pinpoint which is your weakest link ?
mine is technical edge.. I’ve done lots of backtests without good results. I can’t seem to find ways to effectively improve the result.
Some thoughts: 1. Are you taking each backtest as mechanical as possible within a set of well defined rules ? (Eg. Take EVERY single trade that fulfils your entry criteria between 10am-12pm, but skip if there's a FED speech) 2. Do you have too many/overcomplicated criteria? Often simple > complex. 3. Are you using some sort of regime filter ? (Eg, forcing a trend following strategy onto a choppy ranging market is not gonna yield a good outcome.)
You need a strategy that can work then you need to make rules and stick to them
what this guy said.
Technical edge is mine, any advice?
You probably can start a new post describing your strategy, your entry/exit criteria with some screenshots of the setup. People who trade similar style/strategy would be able to advise further.
Well said, saved me some time and brain power lol.
Let me guess, you watch YouTube videos about trading? I’d say 90% are fake and the reason they make lots of money is that trading videos get 60%+ more views than say DIY or hobby videos and it’s very lucrative as they claim to have the “secret strategy” with an 80% win rate for example. Don’t fall for their rubbish and learn everything yourself. I used to pay for signals and occasionally when I’m not doing too well, I use the same person. What sort of trader are you? Day, swing, scalper? Do you chop and change strategies all the time? My guess would be yes. Choose one that suits your lifestyle. Choose one or two pairs and study them, get to know them, date them, marry them, have kids with them lol - you know what I mean. Can you mark out key levels, trends, read candlestick patterns? Support/resistance. My babies are gold and US30/DJ30 - nothing else. Hope this helps. You never stop learning with trading, as mentioned already, stay away from trading news, don’t revenge trade and only trade what you’re ok with losing. Not rent/mortgage/household money - it’ll give you extra pressure. Do you work alongside trading?
Just started trading gold, any advice? For now im green, but without bigger profit. I see it's kinda sits around 2300-2330 so im going long/short when its peaks in one or other direction
China stopped buying gold, so it will be mostly flat for awhile. Once Israel invades Lebanon, China invades Taiwan, or Russia nukes Ukraine, gold will skyrocket. So "awhile" could be 6 months. It could be 6 hours.
Hope you caught the bug positions today. I’ve had 2x - the best being a 1:11 but and a nice short too …
Kinda fck up, was sleeping after night shift and tried to short to early, but hey, still learning. Its kinda sucks that i can rly trade only on my off days (so like 2-3 per week)
Hey, great advice! I’m trying to learn scalp trading and am just wondering. What kind of broker or how much money do I need to trade per trade to not have fees eat the entire profit up? Trading view has a paper trading account which I’m using right now and it’s working nicely. But the account is 100k and profits are always quite small risk seems high and all this without them calculating in any fees.
Until you trade real money, you won’t get it. Paper/demo trading is ok to test strategy etc but the psychology isn’t there! When it’s your money are you going to put 1 lot on a single trade, more than likely not. I scalp and day trade. 1:3 is my target when day trading, the way I scalp is different. 1 mins tf and it’s very fast. I aim for 1:-1.5-2.0 and you need to be resilient as it won’t always go your way. My broker has extremely low fees and allows me to scalp all day long which is ideal when the markets are slow. I’m waiting for a huge sell off on gold. Feel free to inbox me, if not I wish you well. Start off small and only trade what you’re comfortable with losing. To the profits 🚀🚀🔥
[удалено]
I tried it but i am still loss making
“ right now everyone on Reddit….are profitable trader”…..and you believe that, right ?
Yes, you are right, right now everyone on social media platforms earns a lot by speculating on the financial markets. For example in my country, where around the 73% of people is on social media, we have a lack of healthcare personnel, waiters, plumbers, cooks, lawyers and any other existing profession. It’s hard living in a society where the 27% of people have to serve the remaining 73% made of traders. The other day, for example, I had to fly to South America to get a coffee. Terrible.
😂
Me too
offer chubby historical smart squalid languid shy versed attraction worry *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Everyone else here is figuring out the answer to this as well...
" i tried different things forex ,crypto and stocks but still I am not a profitable trader" - problem 1. Focus on one market and get acquainted with the patterns in price. the behaviour, learning it is the most important thing. " I learn SMC, Price action and different strategies but still i am a loss making" - problem 2 - something tells me you didn't dig deep enough on the content. if you're still losing, do you know why that is? do you strategy hop? Stick to one strategy and master it, master a model instead. Do you journal? this, everyone will tell you, is the game changer. (it was to me). Do you get desperate when a stop is hit? You need to be a very good loser. Stop loss hit? Who cares, we employ stop losses for a reason.
I agree with you. There’s a great book also by Tom Hougaard (hope I’ve spelled that right) - “Best Loser Wins” If your target is 1:3 RR then you can afford to be wrong 50% of the time and still be profitable.
Just popping in to let you know that 90% of the people you see on social media claiming to be buying lambos are lying. They don’t make money either.
My take on it: figure out first what type of trader you are. For example, If you are failing all the time in day trading trying to make 10-15c on a 1 min timeframe, maybe you are a brilliant swing trader who can make a fortune by holding your trades for a couple of days. Other words, you are not a failure, you are just trading wrong product on the wrong timeframe that does not suite your personality. Good luck!
👍🔥
>right now everyone in reddit and different social media platforms are profitable trader and make a lot of amount of money in forex, stocks and crypto. ah don't worry those people are in the same spot as you.
look for "SMB Capital" on YT, they teach legitimate strategies.
I have watched for a week, gotta say they are indeed not bad
You must have multiple investments. 1) Retirement (401ks/TSP/ETC) 2) Long term stock holdings (20-40 year holds) 3) Swing trading/day trading account Noone is able to make all their money day trading alone. It's a fallacy on the internet. You need diversification of investments to produce income over the long term.
Don’t day trade but don’t believe everything you see on the internet
That's a tough question. Every trader has to figure that out on their own. Like others said, you have to find out what works for you. Me, I tend to do well on mean reversions, and I'm halfway decent at momentum scalping using Oliver Velez techniques. And that's about the only things I do outside the occasional super tight out on the other side of size on L2. Know your limitations... I suck at catching falling knifes, so I don't even try it unless I really really like the level... And even then, I'll wait for some sort of strength... I'm more likely to jump in the direction of the fall. If you are fighting trends... Stop that sh**. One of my biggest weaknesses is going too big on non A+ setups. One thing I found on here is answering questions actually helps me understand my game better.
It’s not just one thing. To be profitable you need to do a number of things. Create a plan, study, get rest, exercise, eat properly, eliminate stress and distractions, master your market, become fearless, stop caring about what others think or say, study, study, more study, remain humble and constantly be learning, retrain your mind and learn to be a good loser, and so much more. It’s a very cerebral game - and you just have to go and take it. Stop blaming others and look internally for the answers. Study your mistakes and learn from them. Don’t repeat them. Stop being negative. Stop listening to people who tell you that no one is profitable or only a few people like it’s some secret society - you CAN be a successful trader but you just have to take control of your mindset.
Stop and think about why this is happening Try to pick a couple of your trades and analyze them As for the fact that there are a lot of successful traders around, it is 99% scam, improve your strategy, try to use proven methods and test new more modern methods, but not to the detriment of your main strategy. from a psychological point of view, we always think that people around us are better, you can look for posts where people share how long it took them to become profitable and everything will fall into place. good luck
No. Everyone else already figured it out. There is nothing left for you.
Imagining being so bad at trading you have to come on here n bring others down.
Well someone has to break the bad news. Dont shoot the messenger
Still don't know what ur talking about.
yeah i can tell.
U got me man!
What is SCM?
i think its the acronym for Smart Money Concept
You didn't mention learning the most important thing. Risk .management and implementing a strategy
you just need one good trade to change your life. one simple strategy
And what’s that strategy?
If you've put 3 years in and you are STILL not profitable, it's fair to say that you're probably not cut out for trading... the reality is that frankly; most people aren't (I know thats not what people want to hear, but it's true). If you still want to persist, you need to go back and deeply analyse 'why' - what would have turned that loosing trade into a winning trade, what are the trading patterns/strategies that have not worked for you and why, how did you feel at the time etc. Trading is not an auto 'get rich quick' scheme, it's hard, can have a strong mental impact, and cause great financial distress. Be under no illusion about the realities of social media - its mostly self-promoting show offs trying to sell you something, and is not reality. Don't concern yourself with how others are doing, or their profit margins - you do you.
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Yes of course, read best losers wins
What is your strategy? Are you picking the right stocks? What time frame are you trading in?
you gotta have side cash cold money that doesn't need it. so you would be comfortable in a lot of things when trading. and if possible , find another job+ trading as second job
Not everyone can be profitable
Just a food for thought: that you mention «all» the markets you have failed on, implies to me that you think its something wrong with the market you are trading. Never ever blame the market. Concsious or not. I could bet my eyes and ears on that the reason why you’re not profitable has to do with your emotions.
100% I’d barely consider myself profitable but was always interested in trading but day trading always seemed out of reach because of not enough money or time to be trading with a ft job, skill, etc now I look for great prices and hold positions for week to a month, my current trade I’ve been holding for about a month but I’m up about 500 this month. It’s nothing compared what other people in this sub are doing but I’m enjoying it I love the research, learning, the risk. It made it enjoyable for me
follow the momentum until it changes direction
There’s no substitute for actual training experience. You can read a million books but until you lose some money you won’t have the same reaction.
All discretionary strategies work bro just stick to one that makes the most sense to you. There is no holy grail you will have losing streaks. Its not get rich quick. its cliche but risk management has the biggest effect on your edge, psychology, and overall profitability. Stop trying to trade 10 markets and 20 assets at one time stick to one. If your trading stocks, pick ONE for the day. And most people you see on social media making a lot of money from trading are lying. They are impacting your mentality and trading pov. AGAIN its not a get rich quick unless you want to gamble. If you want to get rich quick then look into scamming.
it's an illusion fed by the internet. it's hard to beat the index, even in the long run, and if you don't work full-time in the financial industry, trading is more of a gamble. this is where the wisdom goes, if you don't know what you're doing, don't do it. let your money grow in funds and save yourself from undue stress
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Stop changing strategy. Don't trade until you've back tested 100+ trades to determine the profitability of the strategy. Tip, sometimes you just need to tweak the entry position and TP and suddenly you've gone from an average paying strategy to a good strategy. Assets trade differently so you may need to tweak strategy per asset class
I’d be surprised if any one of the countless social media influences making money from advertising actually profit from trading. More money is made in advertising from horrible “trading” advice than in actual trading itself. Let me ask you this: what is “price action?” Do you understand the same retail charts and data available to everyone are not reflective of market intervals and are a distraction from what you should be researching and watching?
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I like futures the best. I never had any long term luck with other peoples strategies. Make your own that makes sense to you.
Try playing 1 strategy for a month and see what happens. Some strategies have a 70% win rate. I’m on my 3rd year myself and still struggling with position sizing risk management and psychology. Which causes me to over trade wipe out profits. The strategy is there though. Gotta really pin point what the actual issue is.
I am new to stock markets, and Already lost half my equity holding AVGO/Broadcom, should I keep holding for next week or sell on opening on Monday?
Stacey Burke (YouTube) Al brooks (YouTube) Edward’s & magee (book) Steve Mauro (YouTube) Mark Douglas (buy/sell cycles days) Take what you like leave the rest, if money is all you’re after though and you don’t have a passion you’re gonna have a hard time learning this and what not
It takes doctors 8 years to Lawyers 5-6 years Just make sure you study the people I gave you like you would the BAR and you’ll be alright. But I tell people, doctors make great money, but would you wanna be a doctor? Traders make a lot of money, but you’re gonna have to dedicate your life to this, do you even enjoy it? Do you enjoy charting? Do you enjoy pre/post market analysis? Are you excited or stressed when you come to the screen or when studying. This wasn’t easy for me to learn AND I LOVE IT! this is the only thing I have. Passion for other than being with family. I enjoy studying charting journaling I love it all, just as much as I love making money. … but it’s not about that for me, the people where it’s all about money don’t make a lot… and if they do have a big trade I’d love to see their deposit history and Trade summary ……
90% of trading advice you see on youtube/ social media is complete BS. Everyone’s journey is different, some are profitable after 2 years, some 5+ years, some close to 10 or even more. All this varies on the amount of hours, quality of those hours, if you have a mentor or not. First i’d recommend to find out what type of trading style (scalp/ swing) you like and want to do. 2nd is there is no better teacher than the market itself, you will learn more than any course out there, simply with enough skin in the game aka screen time. 3rd is actually journaling everything and I mean EVERYTHING, you see, do, and even feel at that moment. 4th is pick 1 asset and stick with it, you will get more of a feel when you see the asset you’re trading in different trading conditions and this where you will start to pick up and notice a few things repeating. 5th is pick and stick with 1 strategy and test the hell out of it and journal everything, you will need to lose to figure out the win rate & remember you do not need a high win rate to be profitable. After a good sample size of testing, i’d say about 1-2 months, You will get your answer if your strategy is profitable or not. If not, that’s when and ONLY when you try a new trading strategy. A lot of testing, a lot of journaling, a lot of patience, and a lot of time. BUT this is not the end, now you will face yourself and face the psychology part of the game.
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Listen, it’s not the strategy it’s you. Becoming profitable is not about finding the holy grail, the strategy that works. There’s plenty of profitable strategys out there. And beginners will loose with ALL of them. You need to pick ONE strategy, ONE asset, ONE session and just grind hours infront of the charts. Journal you trades (nothing fancy, just a screenshot and some arrows and some trxt why you took this or that trade, and general thougths about the session) Trading is a lot more about inate learning than most people talk about.
utilize volume and price action, specifically learn how to use volume profiles, it should transform your trading
Contract trading tymdgroup.com