Be thoughtful about those guardrails.
Ex. If you over-trade, its common advice to "limit to 1 to 2 trades a day"
That's like saying "I'd like to lose weight"
Those 1 or 2 trades, won't help you if they are still both wrong (the root cause of what's driving your overtrading)
Rather, approach it as "I will only trade on this set up"
Set the guardrail where if its not that set up, you don't trade at all.
Confidence comes from preparation, and then keeping the promises you make to yourself.
Limiting your failures, but still failing doesn't help that.
Position the guardrail to address the root cause.
@Investandbefree@goldeneyet69014@skrkb8@benjune @drakesmithgolf @OutlawRider6 Certainly it was an unbelievable amount of work and organizing and delivering the course in a way for others to learn and really digest, is honestly incredibly selfless and generous. Thank you - you owe us nothing … but man I’m interested!
@Investandbefree I’m definitely putting in the time with the longer time frames from your LTF IV - but beyond intrigued about the new and ever improving method !
@Investandbefree You are a rare combination of unwavering discipline, dedication, and a savant-like ability to cut through the noise . I’m self-aware enough to recognize that I can’t replicate your strengths in the same way—but I d definitely love the chance to learn from you again.
Without more detail its tough to say what the root of the issue is. However, if its gone on that long, your journal should be pointing to one or two things repetitively making it easy to isolate and wrap the right guardrails around.
As general advice. Back up a step.
Pick one set up only. One trade per day. Change the time frames to reduce the noise. For ex, put the option time frame on 15m rather than 5. Trade only the dominant side and use a 90/10 trim until you rebuild confidence capital. Then go to 80/20 etc.
@equitiesndallas Nowhere in LTFIV is the option chart part of your PM prep for alignment and set up for the predictive move post open.
Options are simply derivatives of their respective commons.
Go back through the section on alignment and pm prep. It will clarify through the step by step
@Investandbefree You are at the pro level - they train and practice their craft hours on end. You remind me - trading requires the same discipline and time. It’s good to be reminded even you continue to hone your skill.
@Investandbefree@EvgeniaVolkov10 Sounds very intriguing - I'm working on the longer time frames as well. I'd love to hear more about the new longer time frame method- if you choose to make that available. Knowing you - it will be worth the wait.
@Investandbefree Fantastic! Well done Dan - I’m currently practicing the longer time frames with on demand - Then slowly will start attempting these longer stronger trades.
To my point earlier, I'm sure there are some 'gurus' calling out a 'rug pull'...but if you did your homework you would have known this is coming at least from yesterday.
That's when I told @benjune to expect something similar.
Pay attention to charts, not drama.
Despite my current limited presence on X, I still get alot of 'how to' questions.
This morning I was asked how to know it will be variable in advance.
For those with LTFIV there's a page on this, but here's the cheat notes
If you are flat overnight, you will be highly variable through some portion of open. Expect it.
You can see the below from last night, and you can find numerous examples of the same with a quick visual search.
Today that was combined with the daily being at cross purposes on MACD...basically the market advertising that no decisions have been made and to stay out til it does.
Handy shorthand tip: Imagine you are trading on just the daily or 4h time frame only. If there is no obvious set up there, then stay out til there is. Nothing you do on the shorter time frames will move far without them.
@Investandbefree That sounds amazing - I'm very interested in any improvements or tweeks to the 4 hour approach if you ever share a new course etc. - Thanks again for a life changing education!