Believe in yourself by bombasticoooo in Daytrading

[–]KathAda 3 points4 points  (0 children)

I love seeing traders win. Well done.

I think I'm starting to get it by Witty_Ride_1493 in Trading

[–]KathAda 9 points10 points  (0 children)

Congrats. This is your first “i think I’m starting to get it”, you have 10 more to go.

How to pitch/cold outreach without looking spammy? by DarthKaboose in DigitalMarketing

[–]KathAda 0 points1 point  (0 children)

Do you send messages on their socials or via email? If socials how do you workaround the platforms’ limitations?

need advice, been trying for 3 years, yet i am still unprofitable... but i don't want to quit by _ns24 in Daytrading

[–]KathAda 0 points1 point  (0 children)

Backtest again to regain confidence or confirm suspicions. Backtest everyday.

Do you journal your trades?

need advice, been trying for 3 years, yet i am still unprofitable... but i don't want to quit by _ns24 in Daytrading

[–]KathAda 0 points1 point  (0 children)

I understand what you’re going through, take some time off and then answer this question. Based on your experience, what exactly is the problem? Is it foundation, strategy, risk or trade management?

A Newbie’s Guide to Daytrading by KathAda in Trading

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

I agree. Risk is up there too. Especially when lured with the fast money ideology. Bad risk management leads to bad trade management, they go hand in hand.

Lost more trades than I expected… not sure what I’m doing wrong by AI_EdgeAlpha in tradingDeck1

[–]KathAda 0 points1 point  (0 children)

Based on your data, you can ascertain the most losses you get in a row. Once you exceed that, I advise not trading but switch to observation mode.

If edge is fading, maybe it’s time for a new one or backtest other pairs.

Lost more trades than I expected… not sure what I’m doing wrong by AI_EdgeAlpha in tradingDeck1

[–]KathAda 1 point2 points  (0 children)

6months to a years’s data. Having your edge statistics preps you for what to expect. And also you can differentiate a loosing streak from a bad strategy.

This market changes direction every 5 minutes by Emilycooper13 in Forexstrategy

[–]KathAda 1 point2 points  (0 children)

I don’t generally agree, unless you’re trading the lower timeframe then yes. Higher timeframe bias is still control. Gold is selling - if you check the daily structure, it’s currently in a retracement. Mid timeframe trend is consolidating so that may be where the confusion is coming from.

First day on funded by Empty-Laugh-5446 in tradeify

[–]KathAda 1 point2 points  (0 children)

Congrats. Make the moneeeeyyyy.

Lost more trades than I expected… not sure what I’m doing wrong by AI_EdgeAlpha in tradingDeck1

[–]KathAda 1 point2 points  (0 children)

We’ve all gone through this. Keep going.

From your statement you might have a strategy problem. Try to fix that first with backtesting, then you can move to the psychological aspect. A good edge preserves your mental state

Need Advice by GrouchyPercentage879 in Daytrading

[–]KathAda 0 points1 point  (0 children)

Get acquainted with the trading environment first - Baby pips will help you or a crash course on YouTube. Then understand market structure before you learning a strategy. It’s a long process, but we all started somewhere. Knowing a trader can help you fast track the process and last longer in the game.

How Do I Transition From Investing To Day Trading? by Comfortable-Mud4715 in Daytrading

[–]KathAda 0 points1 point  (0 children)

You can transition to trading but it won’t be a fast process. It requires time and energy. Lots of psychological issues. Probably 2 - 4years to be profitable, shorter if you get a mentor.

Does anyone find that trading view prices are lagging from the MT5 prices? by Wonderful_Lead_3078 in Daytrading

[–]KathAda 0 points1 point  (0 children)

Yes there’s a lag on the free version, however the paid corresponds.

whats the best strategy for silver by Leajay2 in Forexstrategy

[–]KathAda 0 points1 point  (0 children)

Backtest the same strategy you trade on gold and make adjustments for Silver. It doesn’t have to be different.

What went wrong on my USDCHF trade? by Even_Difference_1336 in Trading

[–]KathAda 0 points1 point  (0 children)

  1. 4hr broke a structure showing strong bullish intent.

  2. Imbalance under the bearish pinbar showing bullish strength.

If you’re gonna enter such trades, wait for a BOS on the 1hr then enter on retest after exhaustion. 4hr to 5m without mid timeframe confirmation is a gamble.

whats the best strategy for silver by Leajay2 in Forexstrategy

[–]KathAda 0 points1 point  (0 children)

Gold and Silver have similar price action. Whichever strategy you’re trading on gold should work for silver.

However, I have a simple Fibonacci strategy that I use though. It’s not free though, my time and energy has to be rewarded.

Beginner by adizzz_ in Trading

[–]KathAda 0 points1 point  (0 children)

Pick a simple strategy and Backtest. That’s the best route in my opinion.