Daniel - nice work - Thank you! - though moving a bit too quick for me (My bad, not yours). What do you recommend as ground level basics to learn and begin to implement solid trading fundamentals. I have made trades but never adopted a disciplined system and I have alot to learn. Any advice appreciated.
The not marrying your bias is such an understated point in the trading community. "BUT MY LOWER HIGh STeGOsAURUS PATTERN IS A BEAR INDICATOR" and then the market rips your face off.
Agreed! Dylan is soooo damn good at what he does and doesn't get the credit he deserves. Dude doesn't even seek it, which makes me admire him even more.
I watched you stay unprofitable in your previous funded account endeavors and such. super impressed you stuck it out and found your stride. wishing you the best.
5:45 Not adding on trades to compensate for a loser is KEY. I blew my funded account this way. I was green 5 days in a row, and then 1 bad trade which could have only been -$500 turned into -$3500 when I tacked on 2 more trades and the market continued against me. Just accept the smaller loss and move on.
So true. When I first started out in trading I did exactly this and also blew my account. While the correct thing to do was to cut the loss in half for the next trade until I make it back or at least not increase the size Love how Daniel stays honest through his entire journey and keeps it real with us, this video really had good advice
Very interesting! You have a great view on trading much as Jim Simons did in 1978! I am 84 years old and trade less frequently at this point. Each day I go to a shop where I am able to interact with young people and work with my hands and use another part of what is left of my brain. Do homework, analyse direction of a trade and set a target and get away from the monitors to avoid over thinking and constant adjusting. Excellent teaching! Many thanks
Good video, I am am a little behind you. I am in 3rd year and getting close to consistent profitably, but still self sabotaging to much. Sizing down has helped me stay in trades longer. Still struggle with impatience. Especially when trying to pass challenges. Enjoy your videos.
ive watched your video 2 years ago when you were still unprofitable, and i was learning yo trade forex that time, now its remarkable to see that youre killing it, keep up the good work!
Excellent video Daniel! I appreciate the kind words! Your ability to articulate is second to none! Many folks chase after a "holy grail" strategy that is going to produce them a high win % and exponential gains... they often overlook the points you covered in this video and ultimately find themselves failing over and over again... Thank you for making this! I'm confident it will help many aspiring traders
The reason I love your content so much is because I see so much of my own trading journey in yours. You eventually found your passion in the day trader world and I’ve seen you grow through your videos! Love the content and let’s keep growing 💪🏽
Great video I did that today where I got out on a normal pull back because I was scared of losing a couple dollars in profit, only for it to go exactly where my TP was - have to be comfortable with the discomfort and confident in your analysis
you also have to get comfortable with dumping trades that might turn into winners. what you did wasn't wrong, the market could have easily swept you the other way.
@@asdfbeau well, no because when you have an edge then you need to believe your proven backtested strategy where you tested SL and TP. moving SL to BE is totally different scenario in strategy which should be tested on the same graph and time when was tested original strategy and compare results. In one strategy as I backtested that method I was less profitable when moving SL to BE as just leave SL in original position. Win rate can be better, but with every R added you are higher to survive loss in few rounds. Which can happen when we talk about win rate 50%. In 10 rows you can loose and hit SL. Moving SL to BE is different in all different stocks, as one stock can create deep pullbacks and other stock not. So also that is not uniform to any pair, stock, etc, plus different time can create different behaviour of stocks - respect SR zones, not respect SR zones....
I would say even before trying /MES or /MNQ, trade TQQQ, SPXL, or UPRO with 50-500 shares depending on how much you got, and don’t even bother paper trading.
This is good advice! I have gotten proficient at cutting my losses and you need to definitely realize that there is a difference between cutting your loss to end the discomfort, and cutting due to price action giving clear signs that your SL is about to get blown up. Of course you will cut winners, just need to keep practicing! For me holding my WINNERS is the hardest part, especially trading on apex due to their trailing DD rule, and their %30 rule.
Brilliant video with excellent advice. The part about sitting in drawdown and getting out at break even only for the trade to go your way you mentioned on steam a while ago, ever since I've kept it in my mind and it's really helped me! Keep grinding Daniel. Have a great weekend.
I agree with all these....however, one thing about micros was i was trading a bit to cavalierly as the amount of money at risk was negligible and that led me down the path of not trading the plan and just gambling. SO I learned bad habits while racking up losses and commissions. Once I went back to minis, the risk meant something and that forced me into more thoughtful trading. This was just me. I agree with your premise regarding micros but for me, it was detrimental.
I've been in breakeven mode for a while. this is also year 4 for me. I've gotten payouts on both topstep and apex, only to buy and blow more challenges or funded accounts. Getting funded is now the easy part. Staying funded is hard. I tend to still degen into trades when I take a loss and revenge trade. Just bought the audiobook , best loser wins like you suggested. Thanks man!! Great content as always!!
Not only that but with 1 mini you can't do a proper risk management we never know when the market will flip soo having for example 5 micros let's you get out of a couple of them in an area you feel conflicted not far from your TP for example and take some there if it turns to your break even for example you will have 3 micros not 5 soo you take almos thalf of the profit and if it goes to your TP because it was not far from your tp and you ahd still 3 micros open then the profit is almost the same as if u took 5 to that tp micros are amazing for props is worth the extra comision
I've thoroughly enjoyed your well documented journey. I made the change recently to micros over minis so that I could scale out of 10 micros instead of trying to let 1 mini ride into oblivion. Glad to see I wasn't the only one to make that change.
Just hearing you talk, I can tell you’ve been listening to Carmine. That’s great bro. I’ve been keeping an eye on your trading journey for the last 2 ish years. You’re killing it brother🤞
Hey id just like to say I watched your video a couple years ago when you first tried day trading and sucked, and it’s cool to see where you are now, I’m making progress myself 👍✌️
Loving the new haircut, Dan! I don't think the last one suited as much. Any interest in doing investing/trading challenges where margin/futures (borrowing money) isn't required?
do you know something daniel '' i feel every single word you have said and its looks the same about the time since 4 years i still strangling and you know what i for real sitting you as my mentor in this gurney and is wising that i can follow your steps asap . i appreciate it bro
I've watched your journey from the first challenge you did with TBM. Truly inspiriing watching you grow. Could you share how you do your recording/scren record and live stream. I think that would be helpful. I want to learn to screen record cos I thnk it would add ane xtra layer of accountability or my growth
Man, it took my 5 months to pass my first combine, now I can pass them with ease, but reaching a payout is difficult. Seems like I’m getting better every xfa I get. I’m opening my new one next week, and with Topstep allowing the micro to mini ratio increase, I’m thinking this time around I should reach it.
Watched you do that thing with Trades By Matt a long time ago where he made so much in a week and you were struggling. To see where you have come now is nothing short of insane so wishing you all the best!! I'm one year in with trading and almost break even in my trades. You are an inspiration to not give up!
im 18 and lost nearly all of my saved up money trying to trade, i had 10k dollars in my account and it was going well to start with but now down to 900 dollars, super depressing but this video is reassuring thanks Daniel
Hi how many trade do you take per month in average ?because I think I’m overtrading but don’t really realize( I overtrade but I’m profitable , but I’m obligated to look at the chart all day Wich is not adaptated to my life )
Congrats on your recent successes! Any insights on the difference between "always trade your plan" and "don't marry your bias" as these can seem contradictory and I've heard both given out as advice from successful traders? Maybe it's just - come up with a plan, stick to your entry and exit goals, but once that specific trade is over you should be willing to adjust to price action regardless of your original thesis?
yes, i would say usually my plan would be "I want to see price react this way at this level, then i will short." i see it, i take it. marrying my bias would be "market should sell-off today. i will sell here at the highs. oops, that didn't work. let me try again. dangit. well, it's gotta go down, i'll short the next sweep higher."
What ive learned about investing on the stock market Its like going into a fist fight. If you are not prepared, not used to getting punched and dont have the nerves to see it thru. You will get obliterated
Hey, I liked the content on this channel in the beginning where it was mostly focused on getting better at spending your income, finding out how to save money, investing in an ETF and things like that but I am not interested in trading, which has been almost the entirety of your recent content. Are you focussing most of your content on this channel on this trading in the future? Would love an honest answer so that I can decide if I want to keep being subscribed while not watching any of these videos and hoping for other content again.
Im stuck in my marriage unfortunately. I used to trade options where id find the set up on the 1hr or 4 hr so the direction i was going for was generally 1 way that i was focusing on. Now that option premiums have been insane I have tried futures for months and i continue to find myself marrying a direction. Even when I know I should flip so i try flipping ill get stopped out and think i was right initially so will flip back to my bias and take a big L on the day on these slow grind up or down days.
2. be willing to accept your risk if the trade goes against you. be patient for your target to hit. 3. if the market tells you you’re wrong, listen. be adaptable. be nimble.
@@DanielInskeep Thanks for the explanation. I can see your points do have some merits but these two points can also be contradictory or they could be saying the same thing but in a different way. Basically one tells you to hold onto your conviction the other tells you to change your conviction.
if the market is confirming, you should not be scared out of a trade. if the market is telling you something different, you should listen and adapt. they work in conjunction with each other.
i disagree with the micro take. Think of what you're asking small size to do: catch large moves, every day/consistently, in the right direction. That's way too much to ask, and way more than: will 86.75 go to 100? We're all here to trade for a living, practicing undersized is like using your local mini-golf to practice for the PGA.
So happy to be here for your journey buddy. Keep up the good work. But the best part of this video is really your ability to look critically at your performance without damaging your moral. That’s the sign of strong trader
Bromigo, the first tip you gave finally clicked with me at 2 in the morning as I woke up randomly thinking about how many times I got stopped out last week…. Just felt like I wasn’t comfortable with my position size and my risk. I was always a few ticks short. Moved to micros today and felt so free lol 😂 great stuff man.
all really good stuff. ive been trading for 3 years, started with options and switched over to futures prop accounts 6 months ago and this month made enough to take out 2 withdrawls and finally become profitable for the first time ever. I remember seeing your early videos and the difference between then and now is huge.
Great video!! Definitely worth a watch at the start of each trading day. I think I will be making this a part of my morning prep before even looking at the charts. Thank you!
if you’d like to watch me trade live and join a group of chill af people, swing by my channel 10 minutes before NYC market open, M-F!
I look forward to asking you on Monday if you have a bias
Would you ever do a tutorial on how you trade? I feel like that would be very beneficial for many new traders out there.
Daniel - nice work - Thank you! - though moving a bit too quick for me (My bad, not yours). What do you recommend as ground level basics to learn and begin to implement solid trading fundamentals. I have made trades but never adopted a disciplined system and I have alot to learn. Any advice appreciated.
The not marrying your bias is such an understated point in the trading community. "BUT MY LOWER HIGh STeGOsAURUS PATTERN IS A BEAR INDICATOR" and then the market rips your face off.
So awesome you gave Dylan a shoutout. He's such a great trader and deserves more recognition.
Agreed! Dylan is soooo damn good at what he does and doesn't get the credit he deserves. Dude doesn't even seek it, which makes me admire him even more.
What's his channel?
I watched you stay unprofitable in your previous funded account endeavors and such. super impressed you stuck it out and found your stride. wishing you the best.
5:45 Not adding on trades to compensate for a loser is KEY. I blew my funded account this way. I was green 5 days in a row, and then 1 bad trade which could have only been -$500 turned into -$3500 when I tacked on 2 more trades and the market continued against me. Just accept the smaller loss and move on.
So true. When I first started out in trading I did exactly this and also blew my account. While the correct thing to do was to cut the loss in half for the next trade until I make it back or at least not increase the size
Love how Daniel stays honest through his entire journey and keeps it real with us, this video really had good advice
Never enter a losing trade twice.
Very interesting! You have a great view on trading much as Jim Simons did in 1978!
I am 84 years old and trade less frequently at this point. Each day I go to a shop where I am able to interact with young people and work with my hands and use another part of what is left of my brain.
Do homework, analyse direction of a trade and set a target and get away from the monitors to avoid over thinking and constant adjusting.
Excellent teaching! Many thanks
don’t marry your bias! marry your best friend!
If only she had your wisdom....
Good video, I am am a little behind you. I am in 3rd year and getting close to consistent profitably, but still self sabotaging to much. Sizing down has helped me stay in trades longer. Still struggle with impatience. Especially when trying to pass challenges. Enjoy your videos.
ive watched your video 2 years ago when you were still unprofitable, and i was learning yo trade forex that time, now its remarkable to see that youre killing it, keep up the good work!
Excellent video Daniel! I appreciate the kind words! Your ability to articulate is second to none! Many folks chase after a "holy grail" strategy that is going to produce them a high win % and exponential gains... they often overlook the points you covered in this video and ultimately find themselves failing over and over again... Thank you for making this! I'm confident it will help many aspiring traders
much appreciated, dylan!
The reason I love your content so much is because I see so much of my own trading journey in yours. You eventually found your passion in the day trader world and I’ve seen you grow through your videos! Love the content and let’s keep growing 💪🏽
Great video I did that today where I got out on a normal pull back because I was scared of losing a couple dollars in profit, only for it to go exactly where my TP was - have to be comfortable with the discomfort and confident in your analysis
you also have to get comfortable with dumping trades that might turn into winners.
what you did wasn't wrong, the market could have easily swept you the other way.
@@asdfbeau well, no because when you have an edge then you need to believe your proven backtested strategy where you tested SL and TP. moving SL to BE is totally different scenario in strategy which should be tested on the same graph and time when was tested original strategy and compare results. In one strategy as I backtested that method I was less profitable when moving SL to BE as just leave SL in original position. Win rate can be better, but with every R added you are higher to survive loss in few rounds. Which can happen when we talk about win rate 50%. In 10 rows you can loose and hit SL. Moving SL to BE is different in all different stocks, as one stock can create deep pullbacks and other stock not. So also that is not uniform to any pair, stock, etc, plus different time can create different behaviour of stocks - respect SR zones, not respect SR zones....
Perfect timing for this video. I was bullish in the last 3 weeks. You can imagine how that went with my option swings.
Great tips!
I would say even before trying /MES or /MNQ, trade TQQQ, SPXL, or UPRO with 50-500 shares depending on how much you got, and don’t even bother paper trading.
Amazing video Dan one of your best for sure. I enjoy your livestreams most mornings and videos like this help alot!
Great advice! Love to see it
thanks, carm!
This is good advice! I have gotten proficient at cutting my losses and you need to definitely realize that there is a difference between cutting your loss to end the discomfort, and cutting due to price action giving clear signs that your SL is about to get blown up. Of course you will cut winners, just need to keep practicing! For me holding my WINNERS is the hardest part, especially trading on apex due to their trailing DD rule, and their %30 rule.
Brilliant video with excellent advice. The part about sitting in drawdown and getting out at break even only for the trade to go your way you mentioned on steam a while ago, ever since I've kept it in my mind and it's really helped me! Keep grinding Daniel. Have a great weekend.
I agree with all these....however, one thing about micros was i was trading a bit to cavalierly as the amount of money at risk was negligible and that led me down the path of not trading the plan and just gambling. SO I learned bad habits while racking up losses and commissions. Once I went back to minis, the risk meant something and that forced me into more thoughtful trading. This was just me. I agree with your premise regarding micros but for me, it was detrimental.
I've been in breakeven mode for a while. this is also year 4 for me. I've gotten payouts on both topstep and apex, only to buy and blow more challenges or funded accounts. Getting funded is now the easy part. Staying funded is hard. I tend to still degen into trades when I take a loss and revenge trade. Just bought the audiobook , best loser wins like you suggested. Thanks man!! Great content as always!!
Watch “how philosophy made me 700k trading”
Not only that but with 1 mini you can't do a proper risk management we never know when the market will flip soo having for example 5 micros let's you get out of a couple of them in an area you feel conflicted not far from your TP for example and take some there if it turns to your break even for example you will have 3 micros not 5 soo you take almos thalf of the profit and if it goes to your TP because it was not far from your tp and you ahd still 3 micros open then the profit is almost the same as if u took 5 to that tp micros are amazing for props is worth the extra comision
Really great video, I will try to apply these points to my own trading! Thanks Daniel
I've thoroughly enjoyed your well documented journey. I made the change recently to micros over minis so that I could scale out of 10 micros instead of trying to let 1 mini ride into oblivion. Glad to see I wasn't the only one to make that change.
Just hearing you talk, I can tell you’ve been listening to Carmine. That’s great bro. I’ve been keeping an eye on your trading journey for the last 2 ish years. You’re killing it brother🤞
Finally a real retail trader without the influencer side of it. Well done.
Hey id just like to say I watched your video a couple years ago when you first tried day trading and sucked, and it’s cool to see where you are now, I’m making progress myself 👍✌️
early cover one of my biggest flaws ... i tally missed points ..hope it will make me sick of looking at it and will start to hold my trades :D
Some gems in here. I find me catching myself in these often.
I just watched the old video where you loose it all. Cool to see you kept at it.
Great video. Very much on point. 👍
Words of Wisdom!
Loving the new haircut, Dan! I don't think the last one suited as much. Any interest in doing investing/trading challenges where margin/futures (borrowing money) isn't required?
Great video, really enjoyed it!
thanks, python
Watched your journey. So proud of you
Best advices u can get as a new trader :)
do you know something daniel '' i feel every single word you have said and its looks the same about the time since 4 years i still strangling and you know what i for real sitting you as my mentor in this gurney and is wising that i can follow your steps asap . i appreciate it bro
Awesome video! I just found the best loser wins and was debating on reading it
you will love it.
I've watched your journey from the first challenge you did with TBM. Truly inspiriing watching you grow.
Could you share how you do your recording/scren record and live stream. I think that would be helpful. I want to learn to screen record cos I thnk it would add ane xtra layer of accountability or my growth
04.38 incredible lesson!!! i was going through that! this are really clarificant. Thank you bro! 1st video i see, new sub. Greetings from Argentina
you're an inspiration, ever since the tbm vid! grats!
If micro commissions are keeping you from profitability, you've got other problems. Fantastic tool for futures traders. Great video!
good point. thanks for watching!
Well done proud and cool seeing your journey
Top tier advice! I was wondering why my 100x leverage + no stop loss strategy wasn’t working 😬
Such solid lessons based on real life experience. Thank you Daniel :)
Oh shit ive been watching you for years. So badass you are finally profitable.
Man, it took my 5 months to pass my first combine, now I can pass them with ease, but reaching a payout is difficult. Seems like I’m getting better every xfa I get. I’m opening my new one next week, and with Topstep allowing the micro to mini ratio increase, I’m thinking this time around I should reach it.
Great video
Watched you do that thing with Trades By Matt a long time ago where he made so much in a week and you were struggling. To see where you have come now is nothing short of insane so wishing you all the best!! I'm one year in with trading and almost break even in my trades. You are an inspiration to not give up!
im 18 and lost nearly all of my saved up money trying to trade, i had 10k dollars in my account and it was going well to start with but now down to 900 dollars, super depressing but this video is reassuring thanks Daniel
Hi how many trade do you take per month in average ?because I think I’m overtrading but don’t really realize( I overtrade but I’m profitable , but I’m obligated to look at the chart all day
Wich is not adaptated to my life )
usually 3 per day.
Congrats on your recent successes! Any insights on the difference between "always trade your plan" and "don't marry your bias" as these can seem contradictory and I've heard both given out as advice from successful traders? Maybe it's just - come up with a plan, stick to your entry and exit goals, but once that specific trade is over you should be willing to adjust to price action regardless of your original thesis?
yes, i would say usually my plan would be "I want to see price react this way at this level, then i will short." i see it, i take it. marrying my bias would be "market should sell-off today. i will sell here at the highs. oops, that didn't work. let me try again. dangit. well, it's gotta go down, i'll short the next sweep higher."
Amen
This is the most helpful trading video I’ve seen. Thank you!
Awesome video. Been following since your first day trading video years ago.
Motivewave has such beautiful colors. I'd pay $100 a mth for dat man. ty 4 vid
Bro you're an excellent trader congrats I lost money exactly by shorting and the market went long.
Good reminders, thanks. I needed that after this week..
What ive learned about investing on the stock market
Its like going into a fist fight. If you are not prepared, not used to getting punched and dont have the nerves to see it thru. You will get obliterated
Great vid Dan, thank you!
Aye, shoutout to Dylan. 🐐
Daniel can you make a short or something about your setup on MotiveWave?
check out the last video on my channel. i do a complete overview and setup.
@@DanielInskeep omg my bad😅 didn’t get pushed when it was released ig
Side note love the content over the years keep it up👏
Thanks for making this this video Daniel! Can't hear this enough.
how long have you been profitable and how profitable? Keep up the good work!
Hey, I liked the content on this channel in the beginning where it was mostly focused on getting better at spending your income, finding out how to save money, investing in an ETF and things like that but I am not interested in trading, which has been almost the entirety of your recent content. Are you focussing most of your content on this channel on this trading in the future? Would love an honest answer so that I can decide if I want to keep being subscribed while not watching any of these videos and hoping for other content again.
yeah, it will be mostly all trading content now. i understand if that’s not interesting to you.
@@DanielInskeep Thanks! I appreciate the honesty.
Proud of u
Nice vids! What avg profit margin per month as profitable trader?
Im stuck in my marriage unfortunately. I used to trade options where id find the set up on the 1hr or 4 hr so the direction i was going for was generally 1 way that i was focusing on. Now that option premiums have been insane I have tried futures for months and i continue to find myself marrying a direction. Even when I know I should flip so i try flipping ill get stopped out and think i was right initially so will flip back to my bias and take a big L on the day on these slow grind up or down days.
Daniel how many timeframes you use?
pre-market i start with top-down from the daily. intraday, i have the 1m, 5m, and 15m in front of me.
Really great advice.
What’s the difference between 2.Recognizing your fear get comfortable and 3. Don’t marry to your biases?
2. be willing to accept your risk if the trade goes against you. be patient for your target to hit.
3. if the market tells you you’re wrong, listen. be adaptable. be nimble.
@@DanielInskeep Thanks for the explanation. I can see your points do have some merits but these two points can also be contradictory or they could be saying the same thing but in a different way. Basically one tells you to hold onto your conviction the other tells you to change your conviction.
if the market is confirming, you should not be scared out of a trade. if the market is telling you something different, you should listen and adapt. they work in conjunction with each other.
@@DanielInskeep That makes sense. May I ask you how long you have been profitable on a monthly basis?
Great advice!
how many trades do you take on average daily ?
3-4
Lets go!
Huzzah!
i disagree with the micro take.
Think of what you're asking small size to do: catch large moves, every day/consistently, in the right direction.
That's way too much to ask, and way more than: will 86.75 go to 100?
We're all here to trade for a living, practicing undersized is like using your local mini-golf to practice for the PGA.
the point is to adjust your size to accommodate necessary risk.
Did you ever do karate? I think I recognize you
100% on all of this
That's my hardest part about trading is not trying to trade every move
Daniel, i'm pregnant
oh like that's cool... umm how many months along are you? have we met?
@@DanielInskeep watchu mean have me met ma boi??
Damn bro you got some explaining to do lol
Oh so your bias knocked you up huh?!😂
😂😂😂@@DanielInskeep
I LIKE U...ATLEAST U R TRUE TO URSELF AND TO COMMUNITY UNLIKE SOME YOU TUBERS SCAMMING AND LYING
Guilty of everything. How about the revenge trading? lol
GG
I wish someone donated me so i could be a funded, funded trader. :(
To summarize the video:
1. Risk management
2. Emotions
3. Objectivity
So you're the anti-guru guru?
sharing what i learn for free without selling anything isn’t very guru-y.
This guys hot lol
The best and most genuine advice i have seen in years this is basically all you need in trading
So happy to be here for your journey buddy. Keep up the good work. But the best part of this video is really your ability to look critically at your performance without damaging your moral. That’s the sign of strong trader
thanks mal, always nice to see you around.
Bromigo, the first tip you gave finally clicked with me at 2 in the morning as I woke up randomly thinking about how many times I got stopped out last week…. Just felt like I wasn’t comfortable with my position size and my risk. I was always a few ticks short. Moved to micros today and felt so free lol 😂 great stuff man.
Good Job on Beeing a Profitable Trader!
thanks rush!
all really good stuff. ive been trading for 3 years, started with options and switched over to futures prop accounts 6 months ago and this month made enough to take out 2 withdrawls and finally become profitable for the first time ever. I remember seeing your early videos and the difference between then and now is huge.
congrats 🙌
I as well became finally profitable yesterday with my latest payout approved!! let' s try now to push harder
Excellent video my dude !!
Clean haircut
This is gold, Thanks Daniel!
Great video!! Definitely worth a watch at the start of each trading day. I think I will be making this a part of my morning prep before even looking at the charts. Thank you!
Brilliant video Daniel! Exactly what I needed! Thanks
Way to Go Daniel. Great Advice no matter your level of trading.
1:00 left before this beautiful video is unsealed
This is great advice. Love to see you profitable.