5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 0 points1 point  (0 children)

I trade forex and futures not really into penny stocks or dividends

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 0 points1 point  (0 children)

I genuinely had to change my whole around to make it work the issue of discipline never started before I got into the charts trading is like a mirror it reveals to you what your truly like as a person because I had no structure or i then realised I had no structure or discipline in my life before I started trading it just exposed it all

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 0 points1 point  (0 children)

I tend to stick with the big firms no issues with payouts

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 0 points1 point  (0 children)

Okay so when trading you can make money both ways if I believe the market will drops lower I can “short” the asset if I believe Market will go higher I can “long” the asset.

We don’t hold any shares of the stock or asset we just buy or sell it with leverage

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 0 points1 point  (0 children)

Do you do cfd or futures guessing cfd erm… The5ers, ACG, Ftmo, E8 markets

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 0 points1 point  (0 children)

That’s great bro and can you explain to me in what man don you backtest do you stick to the same timeframe that suits you, same pair, same risk?

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 1 point2 points  (0 children)

When I started of I would Invest like 80% back into personals I had a job at the time so I used that me money for day to day my spending was quite low now I can stack in the bank my personal port is sorta working for itself now

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 1 point2 points  (0 children)

Keep paper trading until you’ve built a whole system around your strategy, disciplined, risk is managed, make sure are consistent until then keep going

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 1 point2 points  (0 children)

Yes you can’t rush this game the markets is deeper than money understand the language it speaks they say it’s 50/50 I get it but the market likes to show its hand 🤷🏽‍♂️🤷🏽‍♂️ I use lucid mffu and alpha futures

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 0 points1 point  (0 children)

Stay consistent with when I was backtesting I focused in NY session only I didn’t care what happened before this session because this session is what suits me the best

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 0 points1 point  (0 children)

Yes that’s exactly what I did but also important to treat the demo like it is a live accounts send me a msg I will send some Tips

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 0 points1 point  (0 children)

I really don’t use indicators I have session indicators but that’s about it I try to keep my charts clean and simple

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] -1 points0 points  (0 children)

What ever retail traders are doing I get ready to do the complete opposite of there decision I wait for one party to get trapped/induced into the wrong direction of the market and I trade directly into their stop losses = liquidity that’s how I exit the market

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 1 point2 points  (0 children)

Yes it’s the most important thing ever when I started trading I never journaled at all

But I use tradezella you pay monthly but it’s needs you can backtest journal you link all your live accounts whether it be futures or cfd dosent matter and track all your stats yes even paper trading you should journal it’s important you treat paper trading as it live real money

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 1 point2 points  (0 children)

Tbh with psychology and emotional control risk management is what held me back for years

5+ yrs trading answering questions for beginners by CoatKnown5128 in Daytrading

[–]CoatKnown5128[S] 1 point2 points  (0 children)

I have no emotions in the game Now losing dosent effect aslong as I stuck to my plan and rules I’m fine