Your view differs from mine as you consider the drawdown allowance as capital you already have. It is not. You are actually starting with an account that is $0, and you must make twice your drawdown allowance. 3X would imply you were starting from -4500, and that is not the case. Even though the starting balance will say 150,000, it is really 0. The goal is to accumulate +9000 before losing -4500. Trade well.
Made 50pts off the open. Missed the 196 entry retrace. Missed the 220 reversal entry. If I had held I would have made my 100pts. Looking for a 50pts retrace ... Well ... traded a bit like shit today. +1000$ I have traded too much. 5 trades is too much. Not been patient enough. Not enough balls today. To hold the trades. I should buy or sell the open, Then wait for price to break the 20sma. Would have made 120pts today. Done.
I consistently failed at this until I cured myself of this "shoulda coulda woulda" mindset. This guy came up in my youtube feed first thing this morning. I feel his message is one you need to hear and then to internalize. Disregard his clickbait title. Focus on his message.
Thanks. I just have to remind myself that the goal is to be capture the first hour’s volatility and not … winning or whatever.
Yes, you have to make twice the drawdown. 9,000 profit target means nothing in itself. They don’t ask to make 9k out of nowhere. No … They lend you 4,500$. Win or lose. 4,500$ and not 450$ or 45,000$. Not the same & forget about 0
Since 2000, QQQ daily had an average MFE / MAE of 1.57pts / 0.53pts depending on the close. That's ... a median of 78% vs 22% of the daily range. That's cherry picked but ...
Simple Trading Works. This is the simplest version of trading and it beats everything I have tried before. Forget about READING price. Throw EVERYTHING in the trash. I understand why they said Common Sense. Holy Fck ... Stop being fooled by randomness. Stop fighting a losing battle. Godamn I lost so much trying to catch every move. This is 1NQ. That strategy is so fucking stupid I swear. I lost 10yrs trying to read PA ... What a moron.
Reading this thread reminds me how stupid I’ve been trying to predict the future with tea leaves. Nice one !
lol! That's like saying you have to stop reading the National Enquirer to be able to focus on real news. The hell is wrong with you, dude? Don't you have a functional brain? Perfect, a Pink Floyd song came on, just for you, as I was typing this... I think...