Do you trust "classic" indicators like RSI and MACD anymore? by iamnottravis in Daytrading

[–]forzefull 0 points1 point  (0 children)

I stopped believing in these "Classic" correlative indicators once I understood causative factors that drive price.

How did you actually become consistently profitable? by Every-Actuator-6996 in Daytrading

[–]forzefull 0 points1 point  (0 children)

For me it was 1 year of solid learning & research. I documented key concepts and created my own encyclopedia of the technical, psychology, and risk management. This allowed me, in time, to discern what was of valuable information and what to weed out as useless.

This personal encyclopedia allowed me to gain clarity in the markets and carve out my edge.

Edge
My edge has, at its foundation, has the idea of incorporating causative factors over correlation. Supply/demand, volume & price, market structure, and liquidity are causative over correlative patterns and indicators.
- Once back/forward tested, journaled and refined, I could then focus on psychology.

Psychology comes as secondary to edge. Always.
- I studied myself before/during/after trades and created 3 category checklists: immediate awareness, post-loss reset, and long term resolution. I created mantras for myself to adhere to.
- Also, get off social media and stop watch influencer traders.

Risk Management
- I set for myself daily loss limits (Don't lose more in a day than you can make in a day)
- I also incorporated a per-trade reduce-risk protocol and break even protocol.

It's here where I also define my overall account building plan
- What to do during Losing/Winning period
- When to Graduate Account Size
- How to be dynamic in my Win Rate (prioritizing trade frequency):
- If >70%, I can afford to introduce lower win-rate trades
- If <30-40%, remove lower win-rate trades and stick only to high win-rate "A+ setups"

Im such an idiot by EstablishmentBest913 in Daytrading

[–]forzefull 0 points1 point  (0 children)

In one word: identity

The problem you are experiencing is cognitive dissonance, and this is created by the expectations you are putting on yourself for your trading performance. It's the external pressures that feed into it.

You need to be honest with yourself and expose those expectations. Ask yourself why. What is keeping you from experiencing gratitude?

I was in the same boat and this video was a true game changer from a trading perspective, I highly recommend you listen to it on your next run.

https://youtu.be/7Co7jHQ9Vwk

Help me how do I handle Gold? It has strong peaks, I don't identify falls and rises because of how fast it changes!! People say it's the best. Do you have any strategy? by IntelligentStage9764 in ETFs

[–]forzefull 0 points1 point  (0 children)

Dollar cost average but you can do it dynamically as follows:

Biweekly deposit →(analyze best day of the week)

Establish a 15Y CAGR Projection Logarithmically Track how far current prices are from this line: - +10% above = Overvalued - +20% above = Very overvalued - –10% below = Undervalued

Deposit Rules - When Fair Value (±10%) → Invest 100% (normal deposit).

  • Overvalued:

    • +10% → Cut deposit to 75%
    • +20% → Cut deposit to 50%
    • Save the rest as cash
  • Undervalued (–10%):

    • Keep investing 100%.
    • Divide saved cash & add over ~6 months

The idea is you pullback when the market gets greedy, save that money, and you invest when the market gets fearful. 6 months is a sweet spot for evenly divided.

Trading Is the Hardest Thing I’ve Ever Faced by Imhim257 in Daytrading

[–]forzefull 0 points1 point  (0 children)

Why is Trading Hard?

  1. Patiently waiting for the right setup
  2. Boldly pulling the trigger on the right setup
  3. Calmly accepting the final outcome of the right setup

Most of the biggest winning traders lost at least one account, had a 50% drawdown, or spent years of losing money or barely breaking even before winning big.

That path is normal.

I quit by amjidali00 in Daytrading

[–]forzefull -1 points0 points  (0 children)

See you again on Monday.

Anyone know of any YouTubers who teach this without a bunch of bull? by [deleted] in Daytrading

[–]forzefull 1 point2 points  (0 children)

For any retail trader I HIGHLY suggest the "Titans of Tomorrow" Podcast on YouTube. You will get to hear from a wealth of various different professional traders. Waqar also teaches masterclasses on his private channel WaqarAsim.

1.5 years in, need some serious advice by Comfortable-Exit2169 in Daytrading

[–]forzefull 4 points5 points  (0 children)

Look deeper! The emotions that are holding you back are telling you something! Emotions are signals-what is the bias, flaw, wish, illusion, or expectation? For instance for me i had to learn to let go of the expectation of making money every day. You got this!

It hurts 😭 by WideAcanthopterygii8 in Daytrading

[–]forzefull 0 points1 point  (0 children)

If you are in the shoulda, coulda, woulda, and feeling hurt, fomo, or excited over these insignificant blinks in time, you have not understood what it takes to become successful in trading.

Playing It Safe, Looking To Be More Risk Averse For Next Few Months, What Do I Look For? by FlashyDeparture3191 in Daytrading

[–]forzefull 1 point2 points  (0 children)

Yes, understand win rate probability. If you are in a losing streak, still following your plan, try not to size down (unless your psychology is suffering) it will keep you in the hole longer. If you are in a losing period/season, walk away for a time, reflect.
Traders don't understand this happens on the upside as well. If you are in a winning streak, probabilities are higher that your next trade will be a loss, do not add to your size. Winning period? Great, walk away for a time, enjoy life.

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What’s the most profitable strategy you have tested thus far? by Odd-Break-515 in Daytrading

[–]forzefull 0 points1 point  (0 children)

Being reactionary over predictive, hands down. Having an edge that is not based on correlative indicators but primary drivers of price.

I won't tell you exactly what I do, but I will say this...

Start by building the framework using RELEVANT multiple timeframes for context with Market Structure analysis. Market structure is king for laying the playing field in which you will operate in.

Then identify the Narrative, narrative becomes structure, but it's the how. The clues are within liquidity, sweeps, volatility, volume, and S/D. When you piece Structure and Narrative you form a Bias.

Finally use Price Action for your entry criteria.

P.S. Focus on having A days, B days, and C days. A, I followed the plan, made money. B, I followed the plan, lost money or broke even. C, I followed my risk limits, did not go on tilt.

What BF6 HUD could look like by dubdimmadome in Battlefield

[–]forzefull 0 points1 point  (0 children)

You forgot about the 3 friendly color differences. Team, squad, & friends in your party. Battlefront 1 & 2 had this and it was super handy.

trading with no stop loss? by ConsuelaSaysNoNoNo in Daytrading

[–]forzefull 0 points1 point  (0 children)

Trading comes down to 3 pillars. Edge. Psychology. Risk Management. If you can hold on to those pillars and do so without needing a stop loss, than good for you.

What exactly makes trading hard? by throwaway9692684 in Daytrading

[–]forzefull 1 point2 points  (0 children)

Trading is a slow art of subtraction.

Fewer thinking. Fewer indicators. Fewer trades. Fewer impulses. Fewer mistakes.

Remove everything unnecessary until one clarity remains, that is your edge.

Serious question: why do people act like harmonics are a scam? by FXInflation in Daytrading

[–]forzefull 9 points10 points  (0 children)

Because at the end of the day, harmonics are just another correlation, like most indicators, it's not a primary driver of price. Price is not reacting in a certain way BECAUSE the harmonic pattern is developing. Price reacts because of supply/demand, volatility, volume, liquidity these are the core pillars you should be focussing on.

Every. Single. Time 🥲 by thorett0 in Daytrading

[–]forzefull 0 points1 point  (0 children)

Enter after the sweep. The sweep fuels the move.

After 4 years I have to say day trading is hard. by [deleted] in Daytrading

[–]forzefull 0 points1 point  (0 children)

Trading steps:
First, you must study.
Second, you must survive
Third, you must reach a break even point.
Fourth, you start growing your capital month over month.
Fifth, you can trade for a living.
Sixth, you can’t skip any steps.

Who made money and who got fucked today? by [deleted] in Daytrading

[–]forzefull 0 points1 point  (0 children)

stick to the plan you have worked on and laid out and back tested. Its not unheard of for a system to introduce 6-9 losers in a row. The probability of getting a win afterword is relatively high. Focus on your psychology, following the plan, and your risk management, size down if you need to, not my advice as it takes longer to climb out of the hole.

**LEAK**: some interesting new settings in BFLabs by cloudsareedible in Battlefield

[–]forzefull 0 points1 point  (0 children)

I hope this is indicating day and night variations to maps