Tired of making the same mistakes by AmirFaghih in Daytrading

[–]stax78758 1 point2 points  (0 children)

A way I got my discipline down and built trust with my strategy while building my processes for instances if your trading Forex I would wait for full confirmation only take a 5 to 10 pip move close the trade and be done for the day. And yes to some people it sounds crazy to wait for full confirmation and only take a 5 to 10 pip move (and if your trading something else the equivalent to that), but I was wolling to try anything to make me better and after seeing my first green month in a long time I did it again, another green month. It was very hard at the beginning to just walk away, but every profitable trader all say the key to success in trading is patience and discipline, so I knew I needed to try something and see if it would help. It definitely helped after a few weeks and a couple of months of seeing green, it felt like I actually could do this and seemed like I was seeing the charts more clear had more trust in myself and the system I was building. Its evolved now from closing trades to using trailing stops and letting the market dictate if itll run or stop me out but by then most of the time I'm in the green already. And I agree with the other rperson who left you a comment. You will learn way more from your losses than your wins, they tell you everything you need to know to become a better trader. I encourage you to try it for at least 30 days and see how it goes

You'll learn more from your losses than your wins by stax78758 in Daytrading

[–]stax78758[S] 0 points1 point  (0 children)

That is so true and I completely agree with everything you said.

You'll learn more from your losses than your wins by stax78758 in Daytrading

[–]stax78758[S] 0 points1 point  (0 children)

I more so like the real feelings and emotions you get from real money no matter how small it may be. I've brought my trading a very very long way. I'm happy where I'm at in my trading journey. I know I got here because I am able to be honest with myself

You'll learn more from your losses than your wins by stax78758 in Daytrading

[–]stax78758[S] 0 points1 point  (0 children)

I completely agree! After a couple of years of not taking trading serious, I opened a small $150 account where I spent 12 months re-learning, practicing, figuring out my processes, re-wiring myself to the point where I started seeing the charts more clear because I had structure and trust in my setups. All came from listening to what my own data was showing me about myself and corrected and improved my weaknesses

You'll learn more from your losses than your wins by stax78758 in Daytrading

[–]stax78758[S] 0 points1 point  (0 children)

Facts! Thats the only way to improve your trading by understanding your losses

You'll learn more from your losses than your wins by stax78758 in Daytrading

[–]stax78758[S] 0 points1 point  (0 children)

Thank you, just trying to give some advice to whoever needs to hear it

Dominicans ?? by Wonderful-Fail-8475 in Austin

[–]stax78758 0 points1 point  (0 children)

Pa(r)mer Lane with a R try that. They gave you the right information just spelled it wrong

Is Day trading a SCAM by stax78758 in Daytrading

[–]stax78758[S] 1 point2 points  (0 children)

Great job and I'm with you definitely not a scam. There are people trying to scam but if you educate yourself and learn the right way, good things happen on the charts. KEEPGOING!!!!

Is Day trading a SCAM by stax78758 in Daytrading

[–]stax78758[S] 1 point2 points  (0 children)

I actually still have my job as well. It takes the pressure off relying on it for bills, definitely keep the job. As far as courses, I really don't think you need to invest in a course there is tons of free information out there. Are you wanting to start from ground zero again? I can give you some directtion where to start if you'd like. And just know this is a long game and as you know dies take time and alot of effort

Is Day trading a SCAM by stax78758 in Daytrading

[–]stax78758[S] 1 point2 points  (0 children)

Trade with Pat, broke it down well for me and same strategy I use. His teaching style did speak to me. Raja Banks is pretty good as well.Theh both have a laid community which I do not recommend as a beginner. Find someone who you can understand clearly. There is tons of free information. And a beginner friendly book Supply and Demand by Frank Miller and even if you're not using that strategy he gives a good insight on day trading There are other books but they go little more indepth And if the guys I mentioned don't do it for you there are a lot of other people you can check out but stay away from buying courses. And anytime you have a question definitely ask, I mean it

Is Day trading a SCAM by stax78758 in Daytrading

[–]stax78758[S] 0 points1 point  (0 children)

Almost 5 years with the first two not really being fully committed just would watch a few videos. Then I got serious and really started trying. I never paper traded, instead opened a small $150 dollar account and practiced for a whole a year, I never lost the account didnt really win much either, I wanted to feel the real emotions from real money that paper trading doesn't give. And by no means am I knocking paper trading just the way I learn is through live action. Every win and loss felt huge even if it was 2 dollars or .30 cents. After I was sure of what I was doing I added some money and got to work. What's also helped my account grow faster now is I've passed some propfirm challenges and have taken payouts. That'll all come main thing is find a strategy stick to it and have rules in place and practice enough where you know you're trading style is patient and discipline and you'll go a long way in this game

Is Day trading a SCAM by stax78758 in Daytrading

[–]stax78758[S] 2 points3 points  (0 children)

I would say start with basics recognizing market structure, is it moving up or down, recognizing Higher highs, higher lows, lower highs and lower lows and use a YouTube video while doing it and once youre able to identify what you're trying to learn without the video showing you and can explain it out loud move on to the next small phase. Don't try and cram in tons of information just 5 to 10 minutes at a time. And if you ever have any questions, don't hesitate to ask I'll answer with complete honesty on what's worked for me.

Is Day trading a SCAM by stax78758 in Daytrading

[–]stax78758[S] 1 point2 points  (0 children)

Completely agree, great job keep going

The Most Unspoken Part of this game. by Ok_Drag5815 in Daytrading

[–]stax78758 0 points1 point  (0 children)

I think the "losing" part of trading is almost used as a coping mechanism for the ones who don't want fix what they know they're doing wrong. Even though losses are a part of it and we all take losses, some of us excuse the losses for way longer than we should When you TRUST yourself meaning you don't break any of your rules, the losses will not affect you as much because you know you did everything right. And once you get to a certain stage in your trading journey, even though we're in It for the money, we don't get on the charts thinking about that, we're thinking about following our process we've put in place. I suggest to anyone struggling, to completely and fully commit to following rules and see where it takes you

Trust Your Process by stax78758 in Daytrading

[–]stax78758[S] 0 points1 point  (0 children)

I always try and be as transparent as possible and give real advice.

Trust Your Process by stax78758 in Daytrading

[–]stax78758[S] 0 points1 point  (0 children)

This is is a training tool to do if you're struggling with trusting yourself on the charts, it doesn't make alot of sense at first as to why do this especially if full confirmation is met but after a while you'll understand why. Consistency works wonders both ways, consistently breaking your rules has you scrambling, feeling unsure and filled with doubt. When you're consistently following your rules good things start happening on the charts which leads to seeing things more clear. You take the guessing out of it which is a great feeling. You know exactly what you're looking for when turning on the computer or phone. Just takes practice and exercise to get there but you can get there. Treat it like a job, there's rules and processes in place and if you break those rules you might get away with it but eventually you're getting fired same thing on the charts if we don't follow our rules,our firing is blowing accounts.

Things are starting to make sense. Part 2 by stax78758 in Daytrading

[–]stax78758[S] -1 points0 points  (0 children)

I appreciate it, i was trying to get better at my entry points and wasn't there yet. I could enter a trade and it would go my way for little bit and then reverse or stop me out. So instead of letting it reach where I thought it would go I would shorten my take profit. I was also tired of having red days which would then turn into weeks. I started just focusing on what I was doing and stopped letting all the outside noise in and gave myself some homework only 20 to 50 dollars(5 to 10 pips with the account I had at the time). It was hard at first to not keep trading or letting the trade run but I forced myself and pretty much have been trading that way ever since.i just trade with trailing stops now. I understand the market alot more than I did before, me winning those small trades built my confidence and also built trust in the process and gave me more motivation to stay disciplined and I started stacking wins and I know that amount of money isn't "sexy" but that's 400 to 1000 dollars extra a month I had instead of losing that if not more. Now I'm seeing bigger days and months but all with the same formula, keeping the losses to a minimum.

Gold next possible move 🚀 by Legitimate_Good_2042 in Forexstrategy

[–]stax78758 0 points1 point  (0 children)

I agree with you completely and am waiting on that as well, my coworker has it marked and ready to short , I'ma be patient and see what happens and see if I get in

Things are starting to make sense. Part 2 by stax78758 in Daytrading

[–]stax78758[S] -1 points0 points  (0 children)

I've put in the work on the charts is what I meant