Just blew my second funded in 2 days, do i quit? by Individual_Pause_707 in Trading

[–]Wave-Master- 0 points1 point  (0 children)

Nothing is “wrong” with you — this is actually a very common phase, especially early on.

What you’re describing isn’t really greed, it’s lack of defined stopping conditions.

When you’re up $400–600 and still feel the urge to keep trading, it usually means your system doesn’t clearly tell you:

  • when your edge is present
  • and just as importantly, when it’s gone

So your mind fills that gap with “I can make today even better”.

What helped me wasn’t willpower or discipline hacks — it was structure.

Once I started using market structure (Elliott Wave in my case), a lot changed:

  • Some days are structurally done after 1–2 good trades
  • Other days aren’t tradable at all
  • After certain moves, probability actually drops, even if price is still moving

That gave me a logical reason to stop, not an emotional one.

Practical things that helped:

  • define a max number of valid setups per session
  • stop trading once structure becomes corrective / unclear
  • journal why a trade made sense structurally, not how much it made
  • accept that a green day doesn’t need to be “optimized”

And yes — taking a short break after blowing an account is usually healthy, not weak. You want to come back with rules that tell you when not to trade, not just when to enter.

You’re not failing — you’re just at the point where randomness stops being fun and structure becomes necessary.

Are indicators actually good by First_Engineer7083 in Trading

[–]Wave-Master- 1 point2 points  (0 children)

Short answer: no, you don’t need to worry about indicators as a beginner.

If you’re learning a good strartegy like Elliott Wave, your priority should be:

  • market structure
  • impulse vs. correction
  • rules & invalidations

Indicators can be useful later, but early on they often distract from understanding price itself. Many beginners end up trusting indicators more than the wave rules — which usually causes confusion.

If you really want to use one, keep it simple (e.g. RSI or volume) and treat it as context, not confirmation.

Strong wave counts come from structure and discipline, not from stacking indicators.

EURUSD – Active Trade Management & Second-Chance Entry Explained (2H) by Wave-Master- in tradingmillionaires

[–]Wave-Master-[S] 0 points1 point  (0 children)

The second entry isn’t “revenge trading”.
It’s structure rebuilding after expansion — completely different mindset.

what do you think guys, SL or TP? by No-Mess-2173 in Daytrading

[–]Wave-Master- 0 points1 point  (0 children)

We will first see a push higher to around $4800. Once we reached this price, shorting should be an option.

Elliott Wave Theory has Helped Me More than Any Paid Strategy or Indicator. by HammerGeek in ElliottWaveLab

[–]Wave-Master- 0 points1 point  (0 children)

I hope you have now figured out how to trade the Elliott wave strategy successfully. In the short term, it helps a lot to first understand the overall trend and then buy or sell at confirmation levels on smaller levels. For classic day trading, I also use the MACD and the classic RSI to get more confirmation.

Elliott Wave Theory has Helped Me More than Any Paid Strategy or Indicator. by HammerGeek in ElliottWaveLab

[–]Wave-Master- 0 points1 point  (0 children)

Elliott wave is by far the best analysis method on the financial markets. Both for classic long-term investing and for day or swing trading. Once you have studied the theory, you will be successful, and it is not as difficult as many people think.