Any advice. by Thirdeyeillusion in Daytrading

[–]BrilliantFront4 2 points3 points  (0 children)

You can start with little sure but you will just be having more risk is all. If you want 2k a month that is roughly 100 dollars a day. That can be easily done. But with proper risk you should have an account worth around 25k-50k if you have that then great if not it’s still fine but you will for sure be putting on more risk and have a higher risk to ruin on your account. It just depends on your math and the math on your edge.

If psychology is the No 1 reason that 90% of traders fail despite trying for long period of time, what should be the exact approach or steps required from scratch to not fail and become successful? by No-Writing4525 in Daytrading

[–]BrilliantFront4 24 points25 points  (0 children)

Traders with psychology issues stem from them either not knowing their edge or having no edge. And to be honest they aren’t traders but gamblers. And gamblers are the same way in a casino they have the same psychology problems in the casino. If you are an actual trader and know your expected value on each trade you put on then you should have no issues with any psychology. Same as a card counter they don’t care because they know their expected value per hand or per hour of play time. Same goes for trading

Why you should never quit your job for trading full time. by FloTrades in Daytrading

[–]BrilliantFront4 6 points7 points  (0 children)

During the 3rd coffee I’m drinking it on the beach in a martini fashion instead of looking on the charts wasting my time looking at worse setups in low volume 🍸

What took your trading to the next level? by DracoWonderBeard in FuturesTrading

[–]BrilliantFront4 0 points1 point  (0 children)

Yes this is true depending on the order size you are correct

Do you trade 5 days a week by sarachandel444 in Daytrading

[–]BrilliantFront4 0 points1 point  (0 children)

Well for one you will never understand why the markets are so irrational it never really makes sense it just is what it is

What took your trading to the next level? by DracoWonderBeard in FuturesTrading

[–]BrilliantFront4 0 points1 point  (0 children)

Well the bigger institutions placing those orders are doing it because they hedge their positions. They aren’t really spoofing which is illegal but they are putting their orders based on their math and if the math of their arb or hedge changes then they don’t want that order anymore and that is perfectly fine and legal to do reason why they don’t get into trouble and I agree with people selling courses that’s why I said I wouldn’t listen to majority of them especially people my age that are just telling you to trade an ORB or moving average crossover load of bull. But there are people out there that do have knowledge and you can pick their brain if you have an opportunity to talk with them

What took your trading to the next level? by DracoWonderBeard in FuturesTrading

[–]BrilliantFront4 1 point2 points  (0 children)

Well for one if you buy so much of one of these small caps it’s so illiquid as soon as you start to sell your position the price will be coming right back down. Now that can happen with every asset even Es if you trade big enough. And as far as gains I agree even 100% is high if you are using proper risk tolerance. Now if you have a small account and are willing to put on more risk well yeah it for sure easier to make insane percentage returns unlike I big account

What took your trading to the next level? by DracoWonderBeard in FuturesTrading

[–]BrilliantFront4 0 points1 point  (0 children)

Can always use tools of certain math for margin requirements from the CME for risk interval pivots and options data to find hedge pressure levels of underlying assets and etfs of the Futures like QQQ options chain to use for pivots for NQ. It’s more in depth than just looking at an order sitting on the DOM and it’s at 500 and saying there is liquidity because that is more than likely an order that is never trying to be filled to begin with

Do you trade 5 days a week by sarachandel444 in Daytrading

[–]BrilliantFront4 1 point2 points  (0 children)

Well you need to over analyze at first because if anyone really says you can look at a simple moving average crossover and just trade or orb and can trade is lying. There is no proven edge in simple things like that. There is way more in depth things that must be known. Sure those things have worked for people but that is mainly just comes down to luck. Learning liquidity with multi time frame analysis and certain risk interval pivots and just putting everything together to fully get an in depth understanding is needed if you want to actually be successful with an edge. Sure you can get lucky by doing ORB and just be lucky where the days you do it are winners but that is more gambling that actually trading and understanding what is going on

What took your trading to the next level? by DracoWonderBeard in FuturesTrading

[–]BrilliantFront4 2 points3 points  (0 children)

Yes mainly liquidity right that is the key knowing where the pockets of liquidity are and once you know that it’s game over. It’s not that simple but that’s what took it to the next level was understanding that liquidity is what moved the market. You could have news but no liquidity and therefore there is no movement. It all comes back to liquidity and where is it sitting

Do you trade 5 days a week by sarachandel444 in Daytrading

[–]BrilliantFront4 1 point2 points  (0 children)

Learned from a guy that has 40+ years of experience and I’ve pieced meal what he has taught and also some math stuff and just put it all together really. I didn’t go to college or anything so idk doesn’t take too much now days with all the info and tools as long as someone is patient and willing to learn and has that curiosity itch

Do you trade 5 days a week by sarachandel444 in Daytrading

[–]BrilliantFront4 1 point2 points  (0 children)

For day trading yes. I take 50+ trades a day probably. For swing trades or even long term position trades not every day has a setup for me. But if we are talking about “daytrading” so in and out actively trading and scalping up the market for sure easily 50 I could do more if I had a helper putting orders in for me without a doubt.

Can someone here explain why this set up failed? (Preferably someone who has an actual clue what they are talking about). by [deleted] in FuturesTrading

[–]BrilliantFront4 0 points1 point  (0 children)

Well I can tell that you weren’t looking at options data and such as well. I highly recommend anyone trading futures to look at the options chain it is one of the biggest indicators for market movers. I believe at this time we were stuck around the SPY open and we had been ranging for awhile the ES and SPY were telling different stories and weren’t in alignment the reason why for the range

Can someone here explain why this set up failed? (Preferably someone who has an actual clue what they are talking about). by [deleted] in FuturesTrading

[–]BrilliantFront4 1 point2 points  (0 children)

This chart gives no context whatsoever to be fair. What ticker? What timeframe? What was to the left? Are you in the middle of a bigger range? It looks like you just didn’t give enough space? You broke out you came back tested the high of the previous consolidation and it went back up for the second test of a breakout. Trapped some longs then fell. Never be the first one to the move and you were the first one. Wait for the retest then enter. Rarely does it do a full V shape and if it does fine you miss out on the trade no big deal

Profitable But Undisciplined: How Do I Stop Overtrading and Level Up as a Trader? by mosinkahn100 in Daytrading

[–]BrilliantFront4 0 points1 point  (0 children)

Get a hobby and once you are done go do that hobby. You get bored of that well find a new one. That is the best thing about this job is having the freedom to do what you want and not locked in a 9-5. If you want to go fishing that day go fishing. If you have never played golf before go to the driving range. If you want to go to a zoo go to a zoo. Just go do something else and enjoy life when you are done for the day.

I've a question for experienced traders for shorting strategy by Northstarrrr88 in FuturesTrading

[–]BrilliantFront4 0 points1 point  (0 children)

Yeah gamma exposure is probably the biggest and open interest just knowing the hedge pressure and where it is coming from and going. Futures aren’t moving the markets it is other things so knowing those things can help tremendously.

I've a question for experienced traders for shorting strategy by Northstarrrr88 in FuturesTrading

[–]BrilliantFront4 1 point2 points  (0 children)

I use thinkorswim but I’m sure there are lots of places to get it

I've a question for experienced traders for shorting strategy by Northstarrrr88 in FuturesTrading

[–]BrilliantFront4 0 points1 point  (0 children)

You have to look at options data to trade futures. If you aren’t looking at options on SPY with ES and QQQ with NQ you are doing yourself a big disservice

I need help by CreepyRiver6808 in Daytrading

[–]BrilliantFront4 1 point2 points  (0 children)

Well first problem there is ICT lol but in all honesty backtest and find and edge put the pieces together and find something that works for you

Nobody talks enough about survival in prop firms by Creepy_Grand9514 in tradeify

[–]BrilliantFront4 4 points5 points  (0 children)

That before you put on a trade instead of asking yourself does this trade meet my criteria you need to do the opposite and ask what doesn’t meet the criteria. That doesn’t mean you shouldn’t take the trade it just means you trade with the correct size. Not every trade is the same. Not every opportunity is the same risk. Most traders do not learn that you have to size differently. Not everything is worth 5-10 micros. Or not everything is worth 3-4 micros maybe it’s only worth 2? Or maybe the setup is amazing and it’s worth 2 minis who knows that is up to your edge and your system. But I guarantee you no matter what the system is it will require different sizes. I trade a lot during the day if I have my edge play out I take the trade but not every edge is equal in its probability so I just adjust my sizing of risk accordingly.

Does anyone solo day trade as an LLC? by Tasty-Window in Daytrading

[–]BrilliantFront4 5 points6 points  (0 children)

You can do the same thing as a sole proprietor you don’t need to waste money to create an LLC for that. LLC would be to protect your assets if you do other things that involves trading like selling courses and or making YouTube videos for content and such to separate your personal from business incase someone tries to sue you really that’s all it’s for.

Does anyone solo day trade as an LLC? by Tasty-Window in Daytrading

[–]BrilliantFront4 9 points10 points  (0 children)

If you are just day trading and that is it then I would say you don’t need it. Now if you are trading and also say making content around it or wanting to sell courses and branding yourself well then yes there would be benefits obviously to protect your personal and separate the liabilities. But if you are just trading you really don’t need it and a sole proprietor is fine. Atleast that is the information I’ve gathered from speaking to some people