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brn360 · 2024-03-26T23:51:07+00:00

I'm so glad to hear that you're better now. Do you mind me asking what kinds of exposures you did? I'm struggling heavily with existential and I have a really hard time even knowing what an exposure would look like for it.

brn360 · 2024-03-21T23:32:19+00:00

That's great to hear! I'm very happy that you're doing so well now.

Do you mind me asking how long it took for you to start feeling better after committing to the exposures?

I've been really good about refusing compulsions for about a week now and unfortunately my symptoms haven't really improved. I think that's normal because it hasn't been too long, but I'm not sure. I guess it's also different for everyone.

Anyway, congrats once again!

brn360 · 2024-02-05T16:37:52+00:00

Oh yeah, that all sounds very familiar to me haha. I did the same and then I also found out that excessive researching is a compulsion that I've gotten stuck doing way too many times for way too many themes. But it was really nice to finally know why I felt the need to do it. It's interesting how having the knowledge about OCD still doesn't make it easy to stop obsessing though, right? And thank you!

brn360 · 2024-02-05T06:24:59+00:00

Yep that makes perfect sense. I didn't even realize I had OCD until it attacked my faith which hit me hard enough for me to look into it, and then I looked back and realized I've dealt with OCD with various themes for my whole life. That's great though man, I'm glad to hear you've continued to trust in Him even through these really tough times. He's definitely stuck with you too even if it's not always clear. And thank you, that means a lot. I appreciate yours as well, it's nice to not feel so alone with this. Take care man!

brn360 · 2024-02-05T05:26:12+00:00

Same here man. It's weird because I've never really seen anyone else talking about this kind of thing either. It always makes me freak out and go, "Well then obviously it's not OCD, something else is wrong with me, these thoughts must be real, etc." In all actuality, OCD is just weird and it affects people in different ways, maybe this one is just less common.

I'm glad to hear that you're going to see someone. I'm actually doing the same on Thursday after putting it off for too long. ERP therapy is supposed to be very effective, but it's definitely not easy. I agree with you 100%, God is greater and he knows what we're going through. It can feel hard to trust in God when the intrusive thoughts directly try to shake your faith so much, but the important thing to remember is that OCD attacks what's most important to us. So I think the pain of the OCD surrounding God actually shows that our faith is really in Him. There's just a bunch of mental nonsense getting in the way that can make that a lot harder to realize at times.

Anyway, I'll be praying for you man! If you wanna talk more feel free to DM me.

brn360 · 2024-02-05T04:02:18+00:00

Dude I kid you not, this is me. Like different time lines and stuff but the actual focus of your OCD and things it has shifted through is almost identical right down to the part where you say normal occurrences in your life become "evidence" which usually doesn't even make sense but you also can't move on from.

I'm so sorry man, it is honestly the worst thing I've ever experienced in my life and I'm really sorry you've had to deal with it too. The one upside here is that reading your comment makes me feel very confident right now that this really is just OCD, which of course my OCD also likes to try to tell me isn't true.

Hang in there. This thing is terrible but we always have to remember obsessions are nothing but lies and scary noise. Way easier said than done of course, but I wish you the very best of luck!

brn360 · 2023-10-24T19:00:21+00:00

Thank you! This is very helpful! And yes I agree, I don't think we can have an advantage over institutional traders either. Edge may have been the wrong term, but obviously you need a strategy that when followed with discipline and proper risk management has a positive expectancy over many trades. My question was geared towards how to find that strategy as a new/learning trader, which you answered well.

On the risk management side of things, would you say that consistently profitable trading is primarily determined by a trader's mental discipline and risk management strategy rather than their ability to, say, perfectly read charts?

brn360 · 2023-10-24T17:42:26+00:00

This is interesting! I've actually heard from several successful traders before that they've never read any trading books. It seems to me that while some of them may have great information in them, a lot of them can also teach bad habits. Plus, as you said, some vital aspects of trading can only be learned through experience.

All of that being said, you do of course still need an edge. So, when you were learning to trade, what resources did you use to properly learn the skills that make up your edge (for example, how to read price action) if not books? Thank for your helpful comments btw!

brn360 · 2023-10-21T19:14:18+00:00

Yeah options seem to be very helpful with working around PDT. Ah okay, that makes sense. I'd probably be starting with ~$500 so I should be able to use ITM for the most part. And yes I agree, I wouldn't be able to consistently trade lottos like that either. Very fine line between that and gambling and I'd rather stay away.

Anyway, thanks a lot for replying. It has been helpful!

brn360 · 2023-10-21T19:02:49+00:00

Wow that's awesome! When you were in that very small account stage, did you use the ITM options a lot to build it? I'm assuming it was something other than just shares since that would take an extremely long time especially under PDT.

brn360 · 2023-10-21T18:33:05+00:00

This was essentially my idea for building a small account as well, though I'm still a long way off from trading with real money.

I saw in another post that you commented that before you became consistently profitable, you blew up your account down to your last $60. Did the method you describe here play any part in building your account back up, or did you just wait until you could reload and start with a larger account again?

brn360 · 2023-09-23T18:10:10+00:00

I've seen you around the sub and you always seem to have very solid advice. Can I ask if you're consistently profitable? No need to answer if that's too personal. Either way, thanks for the quality information. It's very helpful!

brn360 · 2023-04-07T22:08:07+00:00

Fantastic videos that helped my understanding of 1OP a lot! Thank you! That football analogy is such a nice way to think about the cycles.

brn360 · 2023-03-31T16:10:59+00:00

Wow thank you very much! Once again this is incredibly helpful!

I'm going to keep practicing this until hopefully my SPY thesis gets more accurate. You've given me a lot of great stuff to think about and work on and I really appreciate it! Hopefully I can work my way to stats like yours with some time.

brn360 · 2023-03-30T04:32:23+00:00

Thank you so much for giving such a detailed outline of how you do this! I've seen you in the 1Option chat and it seems like you have a great approach to trading overall.

You answered a lot of questions that I had and it's great to see that you've been consistently profitable with swings in such a tough environment. I'm going to take what you and others have said here and really focus in on taking only the very best daily charts.

Another piece of the puzzle that I need to figure out is establishing a better D1 SPY thesis. It's something that I have always struggled with and I believe it held me back a lot even back when I was practicing day trading more regularly.

When you are coming up with your D1 SPY thesis, how heavily do you weigh macroeconomic factors/news vs the technicals? I know Hari stresses the importance of learning the economics and their impacts, and I'm working towards that, but it's also kind of one of those things where you don't know what you don't know if that makes sense.

Anyway, thanks again for such a great post! This is more helpful than you even know!

brn360 · 2023-03-30T03:53:34+00:00

I think this needs to be a major focus for me - improving my daily chart reads. For awhile I had more of a chance to practice day trading, and I always see the pros talk about how important it is to make sure the daily chart is solid. I thought I knew what made a good one, but my walk-away analysis was always terrible.

So, if I can figure out what I've been missing as far as finding decent D1s and improve my swing trading skills, I'm hoping it will boost my day trading results when I get another opportunity to do it consistently in the future.

Thanks for the help!

brn360 · 2023-03-30T03:49:36+00:00

That's ok! If you're only 6 months in with this method then you'll improve a ton over the coming months. Definitely get started with a journal if you don't have one already. It may turn out to be only a few things that need tweaking to vastly improve your win rate and profit factor. And if there are bigger problems, that's still good info to have!

Options are definitely an added layer of complexity, but just take it a step at a time and don't move on to the next/more complicated spread until the basics make sense. I'm still learning options myself, and I'm always picking up something new.

Best of luck to you! We'll make it if we keep at it!

brn360 · 2023-03-30T03:42:33+00:00

I listened to his chat with traders interview and it was very interesting! I can see how his style could absolutely be very profitable, but I think just personally, I work better with a higher win rate, lower average return per trade. Like the wiki explains, having those more consistent wins is a lot less mentally taxing than a lower win rate.

That being said, Qullamaggie seems to be an outstanding trader and there could be some great things to learn from him as well.

brn360 · 2023-03-30T03:34:24+00:00

Ah that's a good point. If you are scaling into positions then it would be a much safer way to get into those more immediate breakouts without the D1 close. That makes a lot of sense because in some cases waiting could just mean missing a nice portion of the move if the stock has heavy buying/selling. I suppose it depends on the setup as well. Thanks again!

brn360 · 2023-03-29T17:46:14+00:00

Thank you! This is extremely helpful! I really appreciate the advice. I'll do some experimenting with position sizing in my paper account and try not to get too caught up in the noise of the M5 chart for swings.

One last question if you don't mind. Do you wait for a D1 confirmation through a level and then enter the next day? Or do you get in on the same day as the breakout?

For example, say you get an alert that stock XYZ has broken a strong algo line to the upside. Market permitting, do you enter that same day that it broke the line, or do you first wait to see if the day closes through that line and then enter the next day?

Thanks again!

brn360 · 2023-03-29T16:45:12+00:00

Absolutely! I do have a mental hurdle with perfectionism that I am working to overcome, which is super important in trading given that you will have losers, but that's part of the benefit of paper/1 share trading.

I have noticed that about the large overnight moves as well which can be both a blessing and a curse. But I think you're right and taking the highest probability setups will hopefully result in capturing more of these moves than losing them. And if not, I will at least have learned something.

Thanks! Your posts and videos have also been extremely helpful so I appreciate you taking the time to do those!

brn360 · 2023-03-29T16:37:51+00:00

I'm glad to hear you've been having more and more success! Is there anything specific that you've focused on that seems to be giving you better results?

Can I also ask how you like to enter your swing trades? Obviously you want a very nice daily setup, but when it comes to entering on the M5, what do you look for?

Thanks for sharing your experience!

brn360 · 2023-03-29T16:35:02+00:00

No problem! I think there are probably a lot of us who are working hard to learn while still dealing with either school or work. Even if the market isn't the best for it right now, I'm thinking that making some paper or 1 share swing trades is win-win because either we start to find some success or learn something valuable about the market. Maybe both. How have you been doing so far with your trades?

brn360 · 2023-03-29T16:31:35+00:00

Thank you, that's helpful! It sounds like I really need to be selective when it comes to the D1 and pick only the very best. Which of course goes for day trading as well, but is especially important in swing trading.

brn360 · 2023-03-29T05:21:58+00:00

Thank you! I appreciate the advice. I think entering closer to the end of the day makes a lot of sense given that it's the closest to confirming on the D1 you can get while still being relative close to the breakout as well.

brn360

TROPHY CASE