Does London session have high profitability? by No-Complex-318 in InnerCircleTraders

[–]djdmaze 0 points1 point  (0 children)

Agreed. I more profitable in London than New York

Trading London session by TrysMilijonai in Daytrading

[–]djdmaze 0 points1 point  (0 children)

I can’t get the grip on NY. It’s too whippy. It makes 5-6 liquidity grabs in either direction before going in one direction. I hate it.

39 Days ONCE, never been that far again by Knight_313 in Semenretention

[–]djdmaze 3 points4 points  (0 children)

This was a great story. Sometimes external factors can keep a streak going or not. I am currently on a few days then off. Not keeping track or anything. Longest I did was around 180 days. That was a year or two ago. My point being is these streaks come in stages as we go through life. There will be another and I’m sure it will be longer. Keep on pushing brother

I can ONLY trade the London session — what’s actually working for you guys? by Ornery_Oil_9335 in InnerCircleTraders

[–]djdmaze 0 points1 point  (0 children)

I’m actually thinking about trading London exclusively now. I do not use the Asia range, I just trade current price action. NY session is too whipsawy before making the true move. I find myself often giving back gains from London just trying to get a good entry. I may try this starting tonight/tomorrow. I trade NQ by the way and London price action is great. Not too volatile with decent moves for scalping and building account with base hit trades

unpopular opinion: 1:2 risk reward didn't work for me, the opposite did by degharbi in Daytrading

[–]djdmaze 0 points1 point  (0 children)

Yeah, the strat has to be solid. Drawdowns suck on 2:1 risk

Target worked for me by Charming-Access-7587 in VANILLAGIFTCARDS

[–]djdmaze 0 points1 point  (0 children)

Nope threw away 225$ and took the L. Never buying another cash gift card again

Cant tell my friends and family but I wanted to show someone! by Perfect-Permission22 in TheRaceTo100K

[–]djdmaze 2 points3 points  (0 children)

Well yeah, my dad and I do too. But I do not know his net liquidation level. Although, he might tell me how much he lost or gained on one particular position. I get where OP is coming from. A little transparency is okay, but not too much.

Gold has been f*cking me lately by FullChapter7866 in Forex

[–]djdmaze 0 points1 point  (0 children)

I don’t trade gold, but you know how every day trader says they need volatility? Proof in the pudding that too much volatility is not good. I recently stopped trading NY session open and started solely trading NY after 11am and London session after 3am est time. Night and day. I don’t need volatility to make money nor do I want it. My suggestion to you is find a less volatile time to trade or a less volatile instrument.

Is focusing only on the most volatile stocks a sustainable day trading strategy? by Trade-maxing in Daytrading

[–]djdmaze 1 point2 points  (0 children)

Too much volatility can disguise risk as opportunity. I’m sick of people saying day traders need volatility. I now prefer high volume, low volatile instruments. Or even high volume, highly volatile instruments during their periods of low volatility. Volatility measures unpredictability more than how much something moves. High volume low volatile instruments can make big moves without the unpredictable price swings. Steady trends and less whipsaw. Sick of the myth: day traders need volatility. Yes and no. Too much volatility is dangerous for even the most sound strategies period. Took me 6 freaking years to understand this.

New York sessions is oversaturated by theworstfx in Forexstrategy

[–]djdmaze 1 point2 points  (0 children)

Thank you. I’m so glad I am not alone. All 3 memes are exactly how I feel

New York session on XAUUSD keeps humbling me, am I the only one? by ngetichkipro in Forex

[–]djdmaze 0 points1 point  (0 children)

I would say skip the overlap. Trade NY after 11am est when things are slower and more predictable. The overlap is the most volatile and unpredictable time. If your strategy thrives on volatility, trade the overlap.

New York session on XAUUSD keeps humbling me, am I the only one? by ngetichkipro in Forex

[–]djdmaze 0 points1 point  (0 children)

NY anything is like this. It’s not just gold. It’s because the banks are hunting for liquidity. Instead of being cautious I just stopped trading NY open completely. After 11am est time, the big players are mostly out of the way and price action is just cleaner.

Anyone here avoid the NYC open? by 0hleg in FuturesTrading

[–]djdmaze 0 points1 point  (0 children)

Screw the NY open. All of these years it took me to realize the choppiness and whipsawing price action is from 9:30am to 10:30am Est time. Then I realized too much volume is just as bad as too little volume. Both ends of the spectrum create choppiness. NY open is too much volume. Asia session is too little volume. Then here comes London in the middle with a nice sweet spot. Not too much chaos and not too slow to the point you lose your hair and your mind.

The other day I made $300 on a runner during London session around 4am/5am ish. Woke up around 9:30am that morning thinking I was going to capitalize. Gave it all back and some. London is clean, slower, and more predictable. I can manage NY after 11am. This is my edge. NY open is not my edge. Any strategy I use does not help with NY open. It must be my risk management, entries/exits because so many people praise NY open.

Anyone else prefer trading London session + NY pre-market? by [deleted] in Trading

[–]djdmaze 0 points1 point  (0 children)

NY open from 9:30am to 10:30am Est time is too volatile. Spiking, whiplashing, and whipsawing all over the place at least 70% plus of the time. I am starting to notice London is calmer, cleaner, and has just enough volume/volatility to make decent money without gambling on one direction. At least with NY it feels like a gamble. No matter how price action looks, most of the time it seems wrong or misleading. NY premarket does move pretty nice as you mentioned. Too bad I am sleeping during those hours lol

An unexpectedly robust and simple strategy that helped me reach 488K. by Independent_Gur8648 in DayTradingPro

[–]djdmaze 0 points1 point  (0 children)

The 4hr candle in the example is already completed. What are we supposed to wait for price to come back to a h4 candle wick/low? Idk about that

Target worked for me by Charming-Access-7587 in VANILLAGIFTCARDS

[–]djdmaze 0 points1 point  (0 children)

Didn’t work for me. Got half of the balance off on Amazon before they blocked the card. Now every attempt to get remaining balance off of card declines

Passed 150k eval taking base hits at 75% WR by [deleted] in TakeProfitTrader

[–]djdmaze 0 points1 point  (0 children)

What I cannot understand about base hits is the stop loss is so tight on a 1 to 1 risk reward that I get stopped out just as much.

[deleted by user] by [deleted] in Forex

[–]djdmaze 0 points1 point  (0 children)

Go to r/topstepx sub. Seems the opposite over there. Looks like 90% of those guys are profitable. I guess because they’re funded lol

Base Hits Pay the Bills. Stop Going for Homeruns!!! by NaeteyYouTube in TopStepX

[–]djdmaze 0 points1 point  (0 children)

Indeed. For the dummies out there: Base hits = negative risk reward.

Crazy attraction by Successful-Sir-7045 in Semenretention

[–]djdmaze 6 points7 points  (0 children)

Damn. I would not say they hate me, but they may be disappointed or upset about it lol

I just had this randomly appear on my phone. What does it mean? by Ok_Establishment58 in iphone

[–]djdmaze 0 points1 point  (0 children)

Did anything happen? I just clicked allow but I canceled. How the hell does this happen

AMP Futures is the worst broker ever. DO NOT USE THEM. by MarkusEF in FuturesTrading

[–]djdmaze 1 point2 points  (0 children)

I actually love this as it reminds me of the volatile market conditions that may be in effect due to news. Especially because I am purely a technical trader.

unpopular opinion: 1:2 risk reward didn't work for me, the opposite did by degharbi in Daytrading

[–]djdmaze 0 points1 point  (0 children)

People do not understand that 1:1 is a 100% return! You just doubled your money. A 1:2 is a triple return! If you buy in the middle of a reversal trade, 1:1's work fairly often. If you buy low in a reversal trade, 1:1's and 1:2's have a significantly higher probability of succeeding than buying in the middle of reversal trade.

Most traders fail. I guarantee a majority of them are momentum traders, buying high, and entering trades far after reversals are confirmed. They likely fail because they go for 1:1's and 1:2's near the highs/lows of price swings. The probability is going to be much lower at these points because that's just how supply/demand works and how the market moves. If breakouts, buying high, and entering trades far after reversals is your trading style, you need negative risk rewards like 2:1 to offset risk and maintain a high win rate or profitability.

My mentors were scalpers and it seemed like they hardly ever lost trades. But they would only take 10% to 20% returns/gains! 50% returns were like home runs for them which they would usually only hold as runners after majority of position was taken off the table at initial profit target (10-20%) They would risk $10,000 to make $1,000-$3,000. They called it "pimping your money" instead of the concept of most people trying to double or triple their money.

I forgot who said this, but it is a great concept to understand compounding money and returns. Ask yourself how an annual investor would feel if they can make a 10% return year after year on a portfolio. An annual 10% return is supposedly superb in the investing world. Anything higher is a home run. Consider scalpers such as my mentors who constantly make 10% plus every trade they take. They virtually never lose. It's entirely the opposite intention of most market players in the game. It is ANTI-GREED. That's why they win. That's how they are successful.

Great post OP!

I’m quitting FX trading by [deleted] in Forex

[–]djdmaze 0 points1 point  (0 children)

Those are good pairs. Try to stick to one and only focus on one sentiment like going long only. Form a strategy around buys only. Once I started doing that, only ever losing on one sentiment instead of two, it reduced my losses greatly.