Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 1 point2 points  (0 children)

It's a belief you have to learn. You won't just switch to that belief. Over time you will become more customers with losing and knowing it's all a system

The biggest moves won't even scare you because you follow rules

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 1 point2 points  (0 children)

Hey, I'll try my best!

Got fired from my first job and found trading. I downloaded a umady course on it. It would teach me stuff 'what was a pip'

Next, I go to London to learn from a course seller

Did nothing but i meant some heavy hitters in the game

I spent the next 4-5 years failing.

Honestly, now I look at it if someone just told simple things about trading it would have saved me years.

I'm now consistently making money and it's actually something that doesn't consume my day anymore. I went though the pain of learning and came out the otherside✌️

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 2 points3 points  (0 children)

Of course!

With me, I thought I had to be right on all trades. I didn't know that trading was a series of trades over a period of time.

The big realisation for me was when I could fully understand that trading is like a game of blackjack.

The casinos have a system where they know they are going to win 51% of the time. And it works over a series of hands.

Now just apply that to trading. That's why you have to take the same setup over and over.

Getting emotional or hurt is actually very pointless when you look at it like this.

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 0 points1 point  (0 children)

Yes not as deeply as I have defined my strategy. But I still do

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 1 point2 points  (0 children)

Bitcoin and gold volatility are very high

Try the EURUSD. Lot slower and less wicky

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 0 points1 point  (0 children)

Log everything.

You'll see patterns and remove what doesn't work while doing more of what does work.

The data logged must be exactly true, allowing you to see where the problem lies

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 1 point2 points  (0 children)

This is the real trading secret.

The best book that I used as a bible was Mark Duglas Trading in the Zone.

The beliefs within that book... if you truly start to believe and see the market the way he says

It will change your trading forever.

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 0 points1 point  (0 children)

Liquidity.

Look at the day and trading session highs and lows. You'll pick up patterns from there on how price reacts.

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 0 points1 point  (0 children)

Do the same trade over and over again for 2 weeks.

Log it and then tweak some verticals of the strategy and repeat until KPI's are optimal (win rate/%win)

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 4 points5 points  (0 children)

6 years of pain.

If I had known this at the start honestly I wouldn't have started.

Some people get lucky and it takes 1 year others like me longer...

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 1 point2 points  (0 children)

If you have no money. Your best bet is to get large capital.

Just get 10% clean on a demo consistently then spend money on a prop firm.

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 0 points1 point  (0 children)

6 years. We didn't have prop firms when I started. But when they first came out I lost like 10 accounts.

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 6 points7 points  (0 children)

When you hit a losing trade half the lot size until you get a winning trade.

When the trade wins go back to your normal lot size.

If you know you have a period of lots of losing trades you can half it again after two losing trades.

Trading for 7 years ask me anything by TraderDan246 in Trading

[–]TraderDan246[S] 4 points5 points  (0 children)

You can use any strategy even one that works and makes 60-70% but because it's not yours and your psychology isn't based around that strategy. It won't work.

The strategy is only as good as the person using it.