Trade Management VS Fixed Risk To Reward
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- Опубликовано: 15 сен 2024
- In this video I share what went wrong in my December FTMO challenge, decision fatigue and settling for a free repeat. I discuss my thoughts on decision fatigue being the main reason for a breakdown in discipline. I analysis the results from this challenge, breakdown some trades and uncover the disparity from my actual results to what they could of been if fixed risk to reward was used. I also talk about the shocking success rate at My Forex Funds and if as aspiring traders we should be discouraged - myforexfunds.c...
Enjoy :)
I watch both of your videos.....very true bro.
1) Our default thought process is not wired to enable us succeed in trading, we need to build a new psychological view,a pathway of thinking, a traders mindset, almost like a mental fibre optics of an infrastructure that will power us to the top. Unfortunately it's not bought but built over time.This is called process. It is painful and most time solitary because we are going against our natural self(human will).Time,discipline and patience has to become your companion.
2)You will have makeup your mind to show up to trade every time know you are expected to be there.Not just showing up with the attitude of reflex action or muscle memory but always being in that flow state,(the zone) your attention should be top notch in terms of concentration.
This is why less than 5% succeed. Have a work plan for the mind.The obstacle is inside and not really on our mt4.
Thanks for your feedback Steve, you are 100% right, I couldn't of said it better!! The second point you made is something I struggle with, showing up prepared, having calm focus and not just reacting to the market out of reflex is everything
I blew two 200k funded account all because of fatigue and greed. I blew over ten 200k challenge accounts. It’s has nothing to do with my strategies or analysis. My downfall was 100% self. I’m not giving up. I’m consistently working on self.
I feel you bro, its really tough but don't be too hard on yourself. I never realised so many ppl was going through the same thing. Keep going, the journey can be worth it in the end, less so for the money but more so for knowing you can overcome self, which is on of the hardest things to do 💪
Thanks for the honesty, love these videos. Keep going bro!
My bro!! 🙏
keep grinding, apply the rules u set for yourself and be disciplined. nice video
Thanks for watching! Got to keep grinding, appreciate the motivation!!
Interested to see the results. I too recently blew a £35k FTMO funded account 2 months in. Series of emotional mistakes that are easy to identify as stupid decisions when looking back. On to the next..!
Emotions just cloud everything, its funny when we're out of the trade, done for the day, we can see clearly again. 2 months is better than me! good luck on the next 👊
you are gonna do great brother never give up
Iv had 4 live accounts, never made first check without blowing the account, now I'm up 6.35% on 5th account and Iv stopped trading, pay out in 6 days time, I know how it feels, lost so many accounts in last year, just keep going.
4 times, that must of been so painful!! I'm so happy for you getting your first payout, it must of been but you didn't give up, hearing this gives me motivation 🙏
I'm curious to know what felt different for you the 5th time?
You need a mentor, youre closer than you think. Keep going man💪
Thanks man 👊 a mentor would be helpful no doubt!
I've blown 3 challenges thus far... working on my fourth now. Don't feel bad, at least you passed a few times.
I use to feel worse but gradually we recover faster, keep pushing Christian 💪
I always go for a 1to1 and after i win 3 trades in a row i will let the next trade run on Be for higher RR
Blessed brother 💯
can you put that template from notion in your description! dope video..thanks for posting
Thanks man, appreciate the feedback!
Sure it's not actually mine, Hannah Forex shared it - hannahforex.com/notion-templates
i heard that top players in a game is only 1% too but if you see how all of these top players got there, all of them got like 500-1000+ hours on the game. i personalty spent like 500 hours getting top ranked in a game. its hard work and consistency. when i lost in a game, i didnt scream or get mad i just went ahead and played another one because my stats were slightly above 50% in win-rate.
yh definitely, screen time is important in building experience with pairs, I probably spend 500 hours staring at the 1 min chart aswell lol
Great video.
Thanks for watching!
I don't think elite traders are going to mff. Mainly traders who want an easier challenge. Their trailing daily drawdown limit is a red flag for any intraday trader who can truly scale an account.
True, I've stuck with FTMO, trust for me is more important than an easier challenge. But MFF is attractive + well trusted too which is hard to come by in this dodgy prop industry. The drawdown rule is a hinderance for an aggressive trader but is workable. Appreciate you're input Alex
Thanks for these vids bro.
Great video man.
this has been happening to be for awhile now. I've had some great success, then I fuck it all off rapidly
What risk management tool do you use to calculate your lot size for your trades?
I calculate in my head tbh but a risk management tool is always better to get the lot size just right
@@matt_cruz yeah i use "risk calculator" and that has been a game changer for me. i pay 9.99 per month and it allows me to determine exactly how much i wanna risk without doing any calculations. i can set limit orders, set how much i wanna risk (in percentage or dollars), etc. it's a really neat too. might be worth it to check it out.
@@ZeroToProfitable glad its working for you, but sounds expensive there many free ways of doing, l think there's free apps and trading view can calculate risk too
Great video. Here’s an idea. Do set the second account to copy the same trades, set the second account to take the other side of your trades.
Thanks for watching! I think FTMO actually ban people for that! I've seen the emails
@@matt_cruzyes your right Matt ftmo contract is the following in section 5.3. FORBIDDEN TRADING PRACTICES.
EXAMPLE BY SIMULTANEOUSLY ENTERING INTO OPPOSITE POSITIONS
Bro what do you do besides trading ?
No 9-5 at the moment, I'm hope this trading thing works out!! I do a bit of Crypto (Helium & ETH) mining on the side to get by
KEEP GOING BRO!
Thanks bro, really appreciate the encouragement 💯
Is the website down of my forex fund
Nah, you can check the stats here - myforexfunds.com/myforexfunds-stats-are-back/
@@matt_cruz still it’s not working for me I don’t really know why
@@ForexRS7 No worries, I realised I should of put at screenshot in that part, so will edit it later
@@matt_cruz thats not my point bro my internet is okay but i cant access myforexfund site
Can you share your template ?
Sure it's not actually mine, Hannah Forex shared it - hannahforex.com/notion-templates