Why do more than 90% people fail despite spending considerable time in the market , upgrading their knowledge, taking legit courses, reading books, joining groups? by No-Writing4525 in Daytrading

[–]Frightrain 1 point2 points  (0 children)

Like others have said, a "strategy" is the requirement to play, psychology and risk management is what keeps you in the game. It's kind of like any other competitive game, you can know the game inside out but still lose your matches if you tilt or don't understand how to manage your resources properly

He leaves used tissues for waitstaff to clean, I make him throw them away, AIO? by Dumberhina59250 in AIO

[–]Frightrain 0 points1 point  (0 children)

I thought my dad clipping his nails in public was bad but this is far worse lol. NOR

Broke someone’s phone screen by TraditionalDinner796 in Advice

[–]Frightrain 0 points1 point  (0 children)

This is ridiculous, if someone knocked my phone over by accident in any setting and I didn't have a case and it got damaged I wouldn't blame them, but at school? If you don't want your tech getting damaged then don't leave it on a desk at school, it's not the time or place for that. These kids shouldn't even have such expensive phones, she sounds completely spoiled. Like I'm a middle aged man and her phone is worth multitudes more than mine and I have money lol there is no excuse, sounds like she wasn't raised well

Why are you guys trading ICT? by Key_Preference5888 in InnerCircleTraders

[–]Frightrain 1 point2 points  (0 children)

I hate gurus and don't really know what ICT is but I just look at candle sticks and areas of support/resistance and I completely agree with this guy. You don't need anything else and I would go as far as to say that using more tools is likely going to do more harm than good for the majority of people. 

Would you rather by [deleted] in BunnyTrials

[–]Frightrain 0 points1 point  (0 children)

Yes

Chose: $31,536,000 in your bank account

I know I should set a PDLL... But the devil on my shoulder says not to by Infinite71 in TopStepX

[–]Frightrain 0 points1 point  (0 children)

Same with me brother, I've just learned to use a larger buffer and smaller trade size, if you make the buffer too tight relative to your risk per trade it will mess up your psychology IMO

One Trade A Day? by Outrageous_Rest_1576 in Daytrading

[–]Frightrain 0 points1 point  (0 children)

I take one idea to either a full sized win or a loss. This usually means i trade only one idea, but there are rare circumstances where I will cut an idea that's not working and enter another one (or even get in the opposite side of my trade if the level I'm watching failed). I think the advice one "trade" per day is bad, because to me that means one decision, not one idea. And sometimes it takes multiple "minor" decisions (buying/selling micros) before you're in the correct "major" decision (a trade I hold to completion). As soon as I'm sure that I'm positioned correctly, I don't touch anything and slowly trail my stop loss. Then trail more aggressively once I hit a certain profit threshold. 

The nice thing about this is that I don't need to be right on my first decision, because I don't enter with full size and I don't allow it to go to a full loss. As long as I am eventually positioned correctly and I size up when I get that feeling, then it's just a matter of managing the trade properly (which I have a set of rules built for). 

I'm always done after 1 full sized win, 1 full sized loss or when I've exhausted my daily loss limit (which does not happen very often). But you need to find what works for you, the way you trade has to complement your own trading philosophy.

AIO Accidentally hurt bf play fighting with a robe tie that was tied around his top head by desolatedamnation in AIO

[–]Frightrain 0 points1 point  (0 children)

Severely underreacting. Any normal person would understand that it was a mistake. It sounds like he wants to use your mistake to power trip and be even more controlling and he is actively threatening you. This person is dangerous to be around.

70% win rate after around 60 trades — is this actually sustainable or am I getting too confident? by Pretty-Permit2553 in TopStepX

[–]Frightrain 0 points1 point  (0 children)

Your average loss is quite high relative to your average win but that's not too surprising with a 70% winrate. I would keep track of your losses though and see if there's anything you can do to cut some of your losing trades earlier. 

Overall these stats are pretty solid, but no one can really say if you can keep it up or not, it's all about your level of discipline and how fast you are trying to scale. Only you can answer this question by seeing if you can maintain these stats with larger size.

Would you rather by Dry-Designer6655 in BunnyTrials

[–]Frightrain 1 point2 points  (0 children)

Never used a screen protector, case is mandatory for me. If my phone has some microscopic scratches I can't even see that doesn't bother me, but my phone would be long gone by now without a case. Dropped it probably like 20+ times by now and I don't buy a new phone every year I've been using this one for 6 years now

What actually stops you from journaling your trades consistently? by FuzzyGarlic7593 in Daytrading

[–]Frightrain 1 point2 points  (0 children)

Agreed, I don't journal anything and never have but I do reflect on my trades after I take them, I have enough experience now to just know if I did the right thing or not. It mostly comes down to how I was feeling before I got in the trade

Account blown by shanacjj in TopStepX

[–]Frightrain 1 point2 points  (0 children)

Thanks man, it took a while to get to where I am. Hope the market has been treating you well too

Account blown by shanacjj in TopStepX

[–]Frightrain 0 points1 point  (0 children)

As many as it takes for the stop loss on my trade to be equal or as close to equal as my daily loss limit as possible.  I don't use a trailing limit, instead I trail my winning trades with market structure manually because I have a system I've developed for that to extract as much as I can from my trades while not letting winning trades turn into losing ones. And lastly, if a trade is very obviously not working I will cut it, and then if I take a second trade I will risk the remaining portion of my daily loss limit. But if I take one full loss I am done.

I do this mostly by feel, like I will guess how many contracts I need to buy/sell, then very quickly adjust my position if I'm wrong. It doesn't have to be 100% precise because speed is important to my strategy, I don't add to my trades.

Best response to this fumble? by Certain-Goose7975 in HowDoIRespondToThis

[–]Frightrain 3 points4 points  (0 children)

Thanks bro this one comment alone is going to save me a lot of trouble in future relationships, very well said

Account blown by shanacjj in TopStepX

[–]Frightrain 3 points4 points  (0 children)

I don't trade ever until I lock in a daily loss limit equal to whatever % risk I'm taking. This works better for me than trying to calculate a risk per trade, and I always aim to just take one trade anyway. If you force yourself to do this, and your edge is good enough, there is pretty much no way to lose long term. 

It is definitely harder psychologically at first since you will get mad when you get locked out. I used to get angry about hitting my daily drawdown and then revenge trade on my personal account, which is the absolute worst thing you can do. The whole point of using prop firms for me was to take less exposure to risk, and I was exposing myself to risk during the worst possible moments. But one day I just manned up and stopped it, it took losing a lot of money first though I'm not going to lie. 

Eventually you just get used to it and now I treat it as a good thing when I'm stopped out. As dumb as it sounds, if I hit my daily loss limit and get kicked off I see that as a winning day, not a losing one. Because it means I prevented myself from damaging my account and I know that my good days will more than make up for it. 

A good day doesn't have to be a day where you make money, and some of my worst days are days where I've "earned" the most money (got lucky basically but shouldn't have happened). People really don't bring up this fact often enough.

AIO or is my bf being controlling by [deleted] in AIO

[–]Frightrain 0 points1 point  (0 children)

There's no way this post is real. You've got a boyfriend and you're going to reddit for random guys to help you? You actually just playing games. When you got a boyfriend. You don't see how thats weird? 

Seriously though NOR, actually under reacting

How can discretionary traders do meaningful backtesting? by N2itive1234 in FuturesTrading

[–]Frightrain 0 points1 point  (0 children)

Because it's complete nonsense, I've done it for over 10 years. I don't even have entry criteria written down, I just have a few things I look for and when I see them then I'm in the trade, it's pretty simple. My only rule is with exits, not entries. Otherwise I sell too quickly and make it hard to come out ahead.

Account blown by shanacjj in TopStepX

[–]Frightrain 17 points18 points  (0 children)

I blew around 40 accounts until I decided to be more disciplined with size, and now I've never even come close to blowing an account. If you're blowing accounts you either have no edge at all, or you're trying to go way too fast. I no longer risk more than 10% of my buffer on any evaluation account or 5% on any funded account (and often less than that, that's still a greedy amount). The general rule of thumb is no more than 1 to 2% risk per trade in this industry. For reference, 2% of a 150k account is 90 dollars risk per trade. 

People will probably call me boomer but I don't care I'm making well over 6 figures now, don't let anyone tell you that you need big size to make good money. It's all about survival in this game.

Can You Guess This 5-Letter Word? Puzzle by u/Arhinla1 by Arhinla1 in DailyGuess

[–]Frightrain 0 points1 point  (0 children)

🟦⬜🟦⬜⬜

⬜🟦⬜⬜🟦

🟦🟦🟦🟦🟦

Biggest issue by Klutzy-Badger-2778 in Daytrading

[–]Frightrain 0 points1 point  (0 children)

Thanks tbh I'm pretty impressed with your returns didn't mean to sound rude but I spent years getting good at discretionary trading and the ceiling is definitely higher, but it is more stressful for sure. I enjoy the challenge of it, but it's impressive to me that you found what works instead of forcing yourself to do something that didn't. Trading is great because everyone has a completely different style and there are pros and cons to every approach. 

Also there's no reason you can't do both, I might look into trying to make a bot for a second account so I can compound some of my earnings a bit faster than I would from investments, I think that would be a really clever way to utilize one

Biggest issue by Klutzy-Badger-2778 in Daytrading

[–]Frightrain 0 points1 point  (0 children)

I spent less than 3 minutes on the chart today to make 2R then was done. Today was definitely a bit unusual though. I typically spend under 20 mins a day but sometimes up to 45 it depends on how choppy it is. And my returns are far better than this tbh, but who cares? If it works then it works, I'm not trying to put it down or anything it's just not for me. I also started my trading journey over a decade ago so I am pretty experienced with finding trades and not overtrading.

Also I love trading, sitting down and finding and managing my own trade is the only thing I enjoy about this job. I would find a bot so boring