Another textbook win. Easy day.
There used to be a time when I thought trading was difficult.
Now it’s routine:
Setup
Execute
Win/Lose
Repeat
It’s easier than you think. Just takes a few years to figure out.
Trade breakdown from this morning:
1. MES: 15m range high and Previous Day High both taken at 8:22 AM
2. Rejection from PDH and IFVG formed at 8:33 AM —-> Market Order Execution Short
Stop Loss on the high, 1:1 Risk to Reward
3. Patience until trade plays out
4. Take Profit hit at 8:54 AM. +$940 on the day.
I don’t think that there’s really an ethical implication here. If you’re a profitable trader, you make money whether war happens or not. You didn’t start the war. You bear no responsibility for it. If you lost would you still feel guilty for taking the trade? Probably not. Traders only make educated guesses, they aren’t 100% certain of outcomes.
The market would’ve likely still done the same thing whether you were part of it or not. All you did was push a button. You didn’t take a life. You didn’t do anything to affect the war at all. There’s no reason to feel guilt.
I hate that YouTube or paid courses are pretty much the only ways to learn. It allows unethical people to take advantage of people that are trying to improve their lives. Then those people waste a ton of time learning something that doesn’t even work. One of the most horrible sides of the trading space.
One thing I love about the markets
There's always another opportunity
Don't stress about missing a trade or having to wait until the next day
Missed one earlier today, but was given another chance
You don't need every move
Just the ones that fit your rules
Sometimes knowing when not to trade can help and hinder you.
For instance, the setup today was outside of my risk parameters. But had I taken it, it still would’ve won because the market was strong enough.
As traders, we face uncertainty everyday. But our job is really to manage risk. You can’t do that if you break your rules. Breaking rules to make money, is just as bad as breaking them and losing.
@TheH0n3stTrader Most people don’t want to be billionaires. They just want freedom and financial security. Turns out, those things aren’t as expensive as everyone thinks.
My guy just doesn’t know how to scale a personal account. Does he just withdraw after every win? He didn’t need props, just needed to learn how to leave the account alone to grow. He was already making 10-20% per month. With results like that, his growth would be astronomical if he just let it compound. Complete ignorance of equity curves and principles of compound interest.
Screenshot of my timeline.
This is part of the problem in this space.
It’s easy, it’s hard
The truth is somewhere in the middle.
It’s simple, not easy
It requires time and effort, but it’s not hard
The reality is anyone can do this
Don’t psych yourself out, just persevere
This is really only true for the first few years and only if you’re starting from scratch.
After that, it’s just the same process everyday on repeat. Why make it seem like success in this business is impossible?
I know people who have become profitable in less than a year. Stop acting like you have to be the GOAT in order to make money.
@TradersConf Most people won’t be able to relate anyway. Only other traders know how difficult it is to get there. Everyone else will call it luck or just be secretly jealous. They aren’t happy for you. They just wish it was them.