Hi Sekiyo hope your trading have been good. 100 is a stretch how about we settle for 55 the middle. Have you figured out why you occasionally blew up. That is also my one weakness i am trying to work through.
That is very, very difficult. Because you need several disciplines in one person. For example, you could find a good trader that could explain to you what a good trading plan should look like and what kind of elements it should have. (Skewed risk/rewards for example) But then you have the personality of the student and how he has become till this date. What was his upbringing, what are his beliefs, is there trauma somewhere, does he have unprocessed emotions, what is important to him, what is his purpose and so on. Giving someone a knife (trading system) and to the uneducated, they can only do harm with it. Give a knife to doctor and he could save lives. It is what is inside the person, knowledge, attitude, control, that makes all the difference.
55 sounds good but I prefer round numbers. Let’s say 50 days and we’re good to go. I think we can experiment a wide enough range of market and mental/physical conditions within 50 days. I used to be right often but small (cut winners short) and wrong rarely but big (let losers run). Now I reversed the equation. Might be more often wrong than right but my winners pay for the risk taken + more. Luck is now on my side. The best losers win Wish you the best.
Edge is all the trade psychology you need. You cut winners bc your subconscious knows you're gambling. Your PFC knows. FFS. If a trade presented with a crossed quote, debit spread at a credit... you'd hit it until it's gone or to the limit of your account, but RSI crossing n or some EW bullshit functions as loss-entrainment.
Thank you for the reply Yes, I trade stocks during the early part of the session, and I do have a watchlist that I use to monitor potential setups. I primarily trade on the two-minute chart and use moving averages (20MA and 200MA) along with the MACD for confirmation. I’ll gather my recent trades and post a few examples with the entry and exit points marked on the chart. I appreciate any feedback or suggestions you might have once I share them. Thanks again for the help!
Thank you for the detailed advice, I really appreciate it You’re right ,most of my issues stem from mistakes like not sticking to my plan, jumping in without enough confirmation, and sometimes going against the immediate trend. I’ve been trying to work on eliminating those bad decisions, but it’s a process. I like the idea of focusing on higher risk-to-reward trades (risking 1 to make 3), and I need to get better at letting my winners run instead of cutting them short. I’ll also work on tightening my stops under smaller reactions to minimize risk and lock in profits. I’ll focus on deliberate practice and refining my discipline around entries and exits, especially around reversals and first pullbacks as you mentioned. Thanks again for the insight ,it’s helpful to have these reminders laid out so clearly
There's an alternative and more obvious explanation for "consistently giving back profits" based on the principle of ontological parsimony. "No more causes of natural things should be admitted than those which are true and sufficient to explain their phenomena." — Principia, Newton, 1726
Hey it was EW that earned you your profits! You trade arbs or vols, trying to decipher smirks or smiles after the fact. EW can tell you when vols are likely to spike or tank preemptively.