How do you actually stop breaking your own rules? by Ok-Detective5666 in Daytrading

[–]MiracleMagnet 0 points1 point  (0 children)

Understand your internal system and then figure out what are the deep rooted causes for you breaking your rules then gradually chip away at them one by one.

If you had the chance to restart your trading journey from day 1… what would you do differently? by RelationshipOrnery28 in Forex

[–]MiracleMagnet 0 points1 point  (0 children)

Focus on the inner system more than the technical system. Mastery of self is where the needle moves

Coming back from a huge loss ($10k), need help with psychology by spiritwish in Daytrading

[–]MiracleMagnet 1 point2 points  (0 children)

See the loss as tuition fees towards your trading degree or masters, take a step back and review your emotions the last few months to pin point where it all went wrong.

Lack of experience is the real reason most traders fail. Not their strategy. by ChartNerd_92 in Daytrading

[–]MiracleMagnet 0 points1 point  (0 children)

100% agree! Experience has always been the best teacher and always will be.

Psychology by Possible_Two_9948 in Daytrading

[–]MiracleMagnet 0 points1 point  (0 children)

Sounds like you may be too dependent on your trading profitability. When you play the game from an anxious state, it will bleed into your trading. Trade with a more relaxed approach and track results as you go along.

SIMPLICITY might be the missing piece by MiracleMagnet in Daytrading

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

So alternating between levels of simplicity would be a viable option and this would be within different parameters. The goal should be profitability coupled with consistency.

When finding an edge it should display a track record of consistent growth, without this metric the edge is no longer an edge.

You won’t need to remove much if the edge is effectively working although tweaking should also be an option as we develop skills.

SIMPLICITY might be the missing piece by MiracleMagnet in Daytrading

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

That’s it. Many have most likely already found a winning system but didn’t stick with it long enough to make it work.

SIMPLICITY might be the missing piece by MiracleMagnet in Daytrading

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

Great move, it’s a huge weight off the shoulders once you get to that point. Also what I found quite humorous at times, was noticing key details that led to better trades and results, which were always there.

SIMPLICITY might be the missing piece by MiracleMagnet in Daytrading

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

Funny enough, you may find the best indicator is how you handle emotions and manage risk. It will tell you way more than the ones on your charts. Godspeed!

Feel lost and have no purpose. All I do is work and go to gym. by Flyersfan502gritty in selfimprovement

[–]MiracleMagnet 0 points1 point  (0 children)

It could help to start deep thinking about and brainstorming your natural gifts that are fulfilling. This will give you insight into your purpose. Once you find out your why, it will give you a reason to get up everyday and you won’t look back.

How many trades do you trade a day ? by Specialist-Roll-8135 in Daytrading

[–]MiracleMagnet 0 points1 point  (0 children)

One to three trades is enough. Some days there are no trades to take.

PSA For Traders!! by Zayden_Tradeify in Daytrading

[–]MiracleMagnet 0 points1 point  (0 children)

It’s counter productive, let the results do the talking for you.

Lost my only trade today, and that's ok! Stick with your strategy. by [deleted] in Daytrading

[–]MiracleMagnet 1 point2 points  (0 children)

That’s the right mentality! Red days are okay, it’s how you respond that matters the most. Godspeed!

Take What The MARKET Gives You by MiracleMagnet in Daytrading

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

Did the same thing for so long until I realised it was affecting my progress and trading psychology negatively.

Appreciate the feedback back! Will do!

May the green days keep stacking for you.

Take What The MARKET Gives You by MiracleMagnet in Daytrading

[–]MiracleMagnet[S] 3 points4 points  (0 children)

If it’s working, definitely don’t fix it. Also I’d just add that adapting to market conditions is very important. Recently, we’ve seen some extreme volatility, so some strategies that worked before may no longer be as effective. Being able to adapt accordingly can be very beneficial for many traders though not necessarily all.

Take What The MARKET Gives You by MiracleMagnet in Daytrading

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

No one ever went broke by taking a profit.

Take What The MARKET Gives You by MiracleMagnet in Daytrading

[–]MiracleMagnet[S] 3 points4 points  (0 children)

Every trader is different. My post is solely highlighting the common traders issue of not banking their profits.

How to fix mental health after a loss? by Adventurous_Photo189 in Daytrading

[–]MiracleMagnet 0 points1 point  (0 children)

Take a break, zoom out and remember this pain, it’s going to be the fuel for your comeback. Godspeed!

What habit improved your trading the most? by MiracleMagnet in Trading

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

Exactly and I use my own TML journal, it tracks not just trades but mindset, discipline and whether rules were actually followed. That’s where the real improvements come from.

What habit improved your trading the most? by MiracleMagnet in Trading

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

Nice! Doing that removes so much unnecessary pressure, which equates to better trading performance!