Edward XL CEO of GoatFunded Trader

From Day Trader to Funding Traders| Serial Real Estate Investor | CEO of @lGoatFunded and @lMTIsoftware

[Edward @EdwardXLreal]

I went from 20K in debt to being a Multimillionaire at 23

Here are 7 lessons I’ve learned in this journey

[Edward @EdwardXLreal]

In one WORD, what separates a GOOD trader from a BAD trader?

Excluding emotional management and risk management.

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[Prop Firm Journal @PropFirmJournal]

Here are some reasons to choose @GoatFunded , the newest company featured on https://t.co/Aodnx0RbiA.

[Edward @EdwardXLreal]

BAD traders think in days

PRO traders think in years

The more you work with detachment from the outcome,

the higher the chances of success and achieving PAYOUTS.

[Edward @EdwardXLreal]

Available for few more days ❤️

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[Edward @EdwardXLreal]

What SOCIETY thinks Trading is:

- 100% luck
- Gambling

What it actually is:

- Study
- countless hours of backtesting
- endless hours of forward testing
- statistical edge
- validation of a strategy
- risk management
- emotional management
- failures
- small successes

And ultimately, significant successes.

[Edward @EdwardXLreal]

Success in trading and life hinges on a clear self-perception.

If you recognize and leverage your abilities effectively, positive outcomes follow.

A keen self-awareness is the compass guiding both trading decisions and life choices.

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Join a global community of viewers and share your thoughts in real timeEveryone loves fun livestream🧐
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[Edward @EdwardXLreal]

“I'll start next year" is the BIGGEST contradiction in the world.

If, for some reason, you were to lose your memory and the sense of time ceased to exist,

and you were told that today is January 1, 2024

You’ll start pushing today

So, what changes?

The difference is that you are being influenced by social constructs.

Unplug from these beliefs.

[Edward @EdwardXLreal]

Which currency pairs would you NEVER trade in your life?

I'll share mine:

NZDCHF
GBPCHF
CHFJPY

What are yours?

[Edward @EdwardXLreal]

2. TEST ALL CONFIRMATIONS

I know it can be tedious and time-consuming, but it's necessary.

How can you know which confirmations suit you best if you haven't given these confirmations a chance to be tested?

[Edward @EdwardXLreal]

3. START THE SCREENING PHASE

Now, once you have tested these confirmations, both in backtests and forward testing, start eliminating those you are not comfortable with or that provide a low statistical advantage.

[Edward @EdwardXLreal]

4. SELECT 2-4 CONFIRMATIONS

Select a few confirmations, ideally 2 to 4, but it depends on you.

I personally wouldn't go above 5 confirmations because it can become misleading.

[Edward @EdwardXLreal]

What are the CONFIRMATIONS to use for a PROFITABLE STRATEGY in 2024?

Here's a thread 🧵

[Edward @EdwardXLreal]

1. IMMERSE YOURSELF IN STUDY

The first thing to do is study, study, study.

I'm not telling you to use every concept, but if you want to understand what can work for you, you need to study a lot and have a lot of information.

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[Edward @EdwardXLreal]

The BEST EXISTING TIMEFRAME is M1.

I've seen debates open up about such an ABSURD thing.

""Traders"" claiming to have the right answer on which timeframe is more profitable.

In the most subjective profession in the world, which is trading.

ALL TIMEFRAMES WORK

And furthermore, you should never use just one.

You should always conduct a multi-timeframe analysis, use more of them, depending on the type of strategy you are employing.

Using only one timeframe without having a general context is like driving without fog lights,

unable to see what's ahead of you beyond 5 meters due to the fog.

[Edward @EdwardXLreal]

Trading isn't glamorous; it's a repetitive and often tedious grind.

Yet, it's the discipline to stick to the routine, day in and day out, that transforms a trader from boredom to profitability.