I strongly disagree on the "randomeness" part of the markets . If the markets were truely random no one would be able to sustain profitability not even hedge funds, in the words of Jim Simons "There's always an anomaly" There's always somthing that repeats, it's not extraordinary but enough of an edge to sustain profitability.
"Mostly random". We know for near certain that forex is 99.48% random. The anomaly is the 0.52% of the time it's non-random. Take a look at my next video in this series about taking profit. I explain how to catch that non-random element.
Short term intraday movements can be random at times. But longer term trends based on the fundamentals of markets (not just massive interest rate divergences) are definitely not random 👍
I lost for 10 years until I started trading strategies on higher time frames with profit targets of at least 4R. Trading 5-minute charts and taking small profits is a road to nowhere. The only two edges I have found consistent are time and market movement. Trying to day trade with ever-changing volatility against algos is next to impossible. There is very little edge in trying to predict price movement on an intraday basis. The strategies I now trade have very basic entry criteria. I don't care about candlestick patterns or any other technical analysis. I simply buy or sell every day in an uptrend or down trend and hold until at least 4R or until I'm stopped out. When the market is sideways, I lose sometimes 10R, but when the trend kicks in, that's when you make 40 or 50R in a month. With this style of trading its not unusual to have 3 or 4 open trades stacked.
What about trading once/twice per week (Swing Traders). A profitable win rate can bring you the benefits of obtaining a funded account which can also help you increase your capital, no?
For getting a funded account, do you mean with prop firms? If so, prop firms are just the latest scam. They charge you to pass their tests. That's how they make profits. It's just the latest version of the same old scam. "Buy my course , you'll be rich". Buy my signals, you'll be rich". Pass my test, you'll be rich". "Not rich yet? Just pay some more". If prop firms wanted to find good traders to invest with, all they need to do is partner with a broker, find a good track record, and give that trader money. They don't need to run competitions or tests or challenges that you have to pay for to do. Most prop firms don't have any investment money at all. They're complete frauds.
Hi there. Is there any chance of video on dealing with my trading mind. Im not sure if it's just me but emotions and irrational control of when to trade, exit etc seem to have a huge struggle more so when it's a live account opposed to demo😢.? Has anyone else have this?
I'll do a whole series on mindset soon. Successful trading ultimately is only about that. No system is of any use to a person who can't trade, and successful trading depends entirely on your decision making, i.e. discretion.
Link to this series playlist: ruclips.net/p/PLpxj0ZlW-DD9EFSM_lDOErUgS178Kez8B
Let me know what topic you want next.
If there is high win rate available anywhere, unfortunately they won't sell to you, you won't even hear about it
I strongly disagree on the "randomeness" part of the markets .
If the markets were truely random no one would be able to sustain profitability not even hedge funds, in the words of Jim Simons "There's always an anomaly" There's always somthing that repeats, it's not extraordinary but enough of an edge to sustain profitability.
"Mostly random". We know for near certain that forex is 99.48% random. The anomaly is the 0.52% of the time it's non-random. Take a look at my next video in this series about taking profit. I explain how to catch that non-random element.
The book ”Trending in the zone” by Mark Douglas (so good) says the same, random
read trading in the zone by mark douglas if you dont go with the mindset that the market is random you are fucked.
Another great video. Listening to your videos has completely changed the way I am trading. Thank you for sharing.
you'll have haters soon if you keep revealing the truth like this, lol. love it.
Short term intraday movements can be random at times. But longer term trends based on the fundamentals of markets (not just massive interest rate divergences) are definitely not random 👍
I lost for 10 years until I started trading strategies on higher time frames with profit targets of at least 4R. Trading 5-minute charts and taking small profits is a road to nowhere. The only two edges I have found consistent are time and market movement. Trying to day trade with ever-changing volatility against algos is next to impossible. There is very little edge in trying to predict price movement on an intraday basis.
The strategies I now trade have very basic entry criteria. I don't care about candlestick patterns or any other technical analysis. I simply buy or sell every day in an uptrend or down trend and hold until at least 4R or until I'm stopped out. When the market is sideways, I lose sometimes 10R, but when the trend kicks in, that's when you make 40 or 50R in a month.
With this style of trading its not unusual to have 3 or 4 open trades stacked.
Good information, keep it going. Do you also trade commodities in the same way?
I specialise in forex so can't speak too much of commodities. But all markets are predominantly random, so the principles are the same everywhere.
Bad news: Markets are random
*Good news* 🐝: _loosing 70 out of 100 can still be profitable_
With 4RR..
Stoploss 3 times bigger or 3 times smaller? that's scary, the potential loss will kill my account
What about trading once/twice per week (Swing Traders). A profitable win rate can bring you the benefits of obtaining a funded account which can also help you increase your capital, no?
For getting a funded account, do you mean with prop firms? If so, prop firms are just the latest scam. They charge you to pass their tests. That's how they make profits. It's just the latest version of the same old scam. "Buy my course , you'll be rich". Buy my signals, you'll be rich". Pass my test, you'll be rich". "Not rich yet? Just pay some more". If prop firms wanted to find good traders to invest with, all they need to do is partner with a broker, find a good track record, and give that trader money. They don't need to run competitions or tests or challenges that you have to pay for to do. Most prop firms don't have any investment money at all. They're complete frauds.
Hi there. Is there any chance of video on dealing with my trading mind. Im not sure if it's just me but emotions and irrational control of when to trade, exit etc seem to have a huge struggle more so when it's a live account opposed to demo😢.? Has anyone else have this?
I'll do a whole series on mindset soon. Successful trading ultimately is only about that. No system is of any use to a person who can't trade, and successful trading depends entirely on your decision making, i.e. discretion.
😇❤️❤️❤️❤️❤️