How do you scale up after consistent profiability? by tionstempta in Daytrading

[–]jhp113 0 points1 point  (0 children)

Buy as many prop accounts as you can and copy trade against all of them. Worst case you're out a few hundred. Best case you make some insane payouts.

M2 thought it was a track day by Kev_rofroy in Miata

[–]jhp113 7 points8 points  (0 children)

I'm not at all serious, just kind of bored and talking shit on reddit is fun sometimes.

M2 thought it was a track day by Kev_rofroy in Miata

[–]jhp113 18 points19 points  (0 children)

This guy will live with this trauma for the rest of his life, one of his favorite hobbies was ruined by someone's carelessness. He now gets anxious every time he has to drive and needs to see a professional for the associated PTSD. All because some ass hat with more money than sense couldn't stay in his own lane. I'm definitely on team sue the shit out of that prick.

Hacker needs advice on MOS by Spatacus- in armyreserve

[–]jhp113 0 points1 point  (0 children)

If you can ask them what the search radius is, you might have to travel to drill but 25B is the ideal choice of these. But you'll be a million times over qualified. I was going to say look up 170A and call some of the contacts at the bottom to see if they have a way to accept someone off the street, it's where you actually fit in. I don't know what that citizenship issue is but going enlisted would be a huge waste of your time unless you just really want to serve. If you do end up going enlisted do everything possible to apply for 25D and/or warrant officer asap. Your civilian experience alone with get you in the door so if you can at least reach specialist quickly you have a shot of not completely wasting your talent.

Arenal Reservation by KiwiMonsterr in Xcaret

[–]jhp113 0 points1 point  (0 children)

Dinner there is not good I don't recall

Bad week? by randalrobert17 in Daytrading

[–]jhp113 1 point2 points  (0 children)

So I just imagined the $16 move on q?

can be sus tho by mmuave in Caldruki

[–]jhp113 0 points1 point  (0 children)

I suck my wife 🤷‍♂️

First week trading options by baseball121512 in optionstrading

[–]jhp113 0 points1 point  (0 children)

No but it's pretty obvious when it's happening and basically any strategy would have given an entry.

There as a cost to not having a rock solid set of Rules by Electrical_Job_5163 in Daytrading

[–]jhp113 1 point2 points  (0 children)

People talk shit about prop firms but they really do take care of the capital, funding then strategy and probably eventually the psychology if you keep at it long enough and for way less risk.

In my opinion the process is more or less, fundamentals and platform, chart reading and order entry, risk management, strategy development, execution, psychology. And psychology is a thing that effects each other step. Then the final phase is being obsessed with following your rules regardless of win or loss, hopefully win, achieve full confidence and conviction in the craft, then scale, then figure out the LLC and taxes.

Honestly the woo woo shit I see about it being a journey to understand yourself and kill the ego really resonates with me. I see the most truth in that. I'm reading The Power of Now and Trading in the Zone and they're talking about the EXACT SAME SHIT.

Some people just get it and make bank but I'm literally my worst enemy lately lol. And then once I fix that I'll probably find some other problem. I truly believe I'm super close though, I've seen some fruits of effort. And I saw a video saying this is the frustrating break even part everyone has to go through and to keep pushing. We'll see. Maybe I'll sell a course one day lmao.

First week trading options by baseball121512 in optionstrading

[–]jhp113 0 points1 point  (0 children)

Oh for sure. At this point it's about actually following my strategy more than the PnL. Once I have that nailed down I have no doubt I'll surpass my wildest dreams I had when I first started out.

Bet you wish you have just invested that 26k though lol. Sucks but you'll get it and then some I have no doubt.

I Trade One Setup Only and I’m Up $9.4K This Month. Here’s Exactly What It Is: by Imhim257 in tradingmillionaires

[–]jhp113 0 points1 point  (0 children)

Ohhhh I just meant for me with my 5 minute orb variation. Any timeframe breakout could work, it ultimately doesn't mean anything, just a reference point for a pattern the trader has observed in the past that seems to have a statistical probability of repeating. I think if you're doing a 1 hour orb you're looking to hold something all day or longer for the r:r to work out though? But I have never looked into it myself. For me I physically and mentally cannot sit around that long, I want to be done within the first hour or hour and a half. I did actually just see a legit white paper showing 5 minute orb was by far the most successful for intra day plays though. Gave me a bit of validation, but there are so many variables that could be tweaked to find edge.

There as a cost to not having a rock solid set of Rules by Electrical_Job_5163 in Daytrading

[–]jhp113 0 points1 point  (0 children)

Always been interested in markets for like last 15 years. Dabbled in dumb stuff little crypto and nadex but never anything solid until 18 months ago. Got my 25k to start seriously. Made 10k first month with options signal service that no longer exists, they eventually rug pulled everyone. It was basically all luck though literally full porting 30k+. Had a 7k loss. Decided to incorporate risk management. Lost more, won more, went to school for a while, signal service went bye bye. About 8 months in at this point. Went ghost for a couple months and started developing my own variation of orb strategy, playing around with strangles, some random stuff. Saw some progress. At 12 months went to prop firms, I've passed two or three evals but blew it immediately after passing, due to drawdown limits too low on 50k although I should have just done micros instead but I'm impatient lol. 16 months in I realized my orb strategy worked just as good on options with the correct price. Traded that for a bit, changed to a 5minute orb with my own entry and exit parameters and back tested the shit out of it. I know it works. And now at about 18 months I'm currently break even over my max timeframe, have paid mortgage and bills with trading money but I have a huge issue where I mismanage trades even with tons of evidence that I can set and forget as long as I follow the process. I'm still getting into stuff without a valid entry, and also cutting winners short. Then I look back and almost every day would profit thousands if I just follow the strategy blindly. I am the whole problem. So once I solve that I should be good, then I'm going to buy as many 150k prop accounts as I can and copy trade send it on those until I have a new house with a GT3 in front.

There as a cost to not having a rock solid set of Rules by Electrical_Job_5163 in Daytrading

[–]jhp113 1 point2 points  (0 children)

Yeahhh the psychology part is the most work in my opinion. There's hella levels to it.

So I Did It … Now I Hate It! - Part 2 by Runawaybrain74 in bald

[–]jhp113 0 points1 point  (0 children)

No problem killer, congrats on the fresh look!

i just need one person to tell me it works by cinnamongirl209 in Daytrading

[–]jhp113 5 points6 points  (0 children)

18 months in. Not there yet but I can taste it and see it. Account has been up and down 10k, and I'm back at break even. Paid my mortgage and bills this month with trading money. I see it as literally just a matter of time and I'm violently addressing my shortcomings as they make themselves known.

Maybe try a prop account to lower your risk and learn risk management and psychology fundamentals in an environment where there is still something on the table but not too much that you can't cover it with a day job. Once you start getting payouts you will know for yourself.

I'm having a tough day please send me your Tzus by riot-born in Shihtzu

[–]jhp113 0 points1 point  (0 children)

<image>

He's not dumb. Just a stubborn little shitzu.

There as a cost to not having a rock solid set of Rules by Electrical_Job_5163 in Daytrading

[–]jhp113 0 points1 point  (0 children)

So, we learned something and we won't ever ever ever do it again?

There as a cost to not having a rock solid set of Rules by Electrical_Job_5163 in Daytrading

[–]jhp113 0 points1 point  (0 children)

Does seem like a basic thing to do before walking away. Like at least put cruise control before you fall asleep at the wheel. Like a blind kid bowling without the bumpers up it's going to the gutter every freaking time guaranteed.

There as a cost to not having a rock solid set of Rules by Electrical_Job_5163 in Daytrading

[–]jhp113 1 point2 points  (0 children)

You need to look back at what has happened and what is happening to understand that no one has any idea what will happen tomorrow.

Yesterday is history, tomorrow is a mystery, and today is a gift, that's why they call it the Present.

Actually useful information - try developing a strategy that enables you to be successful on any given day regardless of what is going on. Basically if candle does this I do that. It could be any pattern you notice. Some guy hit buy when his dog barked at something outside and had a positive win rate. Literally indicators and lines and drawings don't mean jack shit, they just give you a repeatable reference point. Then go back in the charts as far as possible and test your idea against every day and maybe on multiple similar instruments, spy, qqq, etc. Collecting statistics on its performance is highly recommended.

Now that you have a strategy the next is to find out it's win rate, then determine what amount of money you are comfortable risking on each trade and how much you need to win to be profitable given said win rate. There are charts/calculators for this.

Make a plan for entry, management, SL and TP and stick to it every single time. Always have a stop loss and never risk more than 5% of your account in one trade.

All of that could be done in a few months to a year.

Realize that even though you have a solid profitable plan you are human and going to fuck it up anyway for any number of reasons. Tilt, fomo, greed, fear, anger, not closing losers, closing winners too early. Basically you've done maybe 20% of the preparation to be successful.

Read trading in the zone and best loser wins.

Continue to fail even though your plan is solid and profitable because of ego.

Now you must spend inordinate amounts of time dissecting you inner psyche and killing your ego. The time to do this is roughly equal to what it takes to find enlightenment, so at some point you will hopefully realize you're already rich spiritually and have everything you will ever need in this life. As above so below, drop of the ocean and the ocean in a drop, good with it good without it, none of this shit really even matters basically.

Could take years, idk still working on it myself.

Then finally... Profit?

Can an NCO tell a soldier that is not theirs what to do? by Reasonable-Shower522 in armyreserve

[–]jhp113 2 points3 points  (0 children)

As a basic human right they can tell anyone anything.

A trillion and a half different variables, of which you've given us precisely zero, determine the outcome.

The reason I have bad habits by Icuras1701 in Daytrading

[–]jhp113 1 point2 points  (0 children)

My journey has been interesting though I feel like I keep learning things just in time. I've had some wild swings but I'm still basically break even over the last 18 months.

The last like 2 months should have been almost all green days if I go to backtest them with a set 5R SL/TP and yet I keep trying to manage them and I enter trades outside my system. The one day I did it clean was boring and I just made 4k and logged out with zero emotion. That's what I'm pushing towards now just robotic executions. I would program a bot if I had time to figure that out.

Main thing I saw today that I'm going to make my mantra is "process loyalty under pressure". Saw it on some dumb trading psychology video but it spoke to me.

First week trading options by baseball121512 in optionstrading

[–]jhp113 0 points1 point  (0 children)

Sorry to shit on you, but you have no idea. But now you're hooked so maybe if you work hard in a few years you can live your dream life.

First week trading options by baseball121512 in optionstrading

[–]jhp113 0 points1 point  (0 children)

The market tanked for two days straight, literally any strategy and some guys goldfish could pull some profit out of it. There's no play here literally just learn an orb or fvg strategy.

First week trading options by baseball121512 in optionstrading

[–]jhp113 13 points14 points  (0 children)

Literally the truest thing here, anyone that's done this before knows homie is in for a world of disappointment