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@SayLessFX Failed to break the most recent high.
Strong bearish candle.
Also hit the same level twice on the down side
Wait for a break of that low and go short (sell)
Some people do not have the mental ability to be a trader.
ANYONE can trade.. we trade everyday without realising… You trade cash for goods daily.
But to be a TRADER what do you need?
Risk management … why?
Because even when we go to the shop to purchase something we know our limits - our risk to over spend.
Treat trading like a business.
Emotions kill 99% of traders.
FOMO = Trust your system/rules
Greed = Realize you can always lose trades
Anxiety = Reduce your risk
Anger = Focus on the next opportunity
Fear of losing = Start thinking in probabilities
Master your emotions to control your emotions.
@TradingComposur Deviating from your plan but
Still managed to yield profits
Is a habit that will destroy your trading❌
The real win is trading your plan
Not hitting your take profit🏆✅
10 Rules of Trading
1: Know your edge
2: Know yourself
3: Forget $$, focus on trading well
4: Play the long game
5: Be intransigent with risk control
6: Tune out the noise
7: Set achievable goals
8: Let your profits run (as much as possible)
9: Stay humble
10: Relax
What else?
The trading world is like an underground world that you are not suppose to know about
I remember back in the day before I became a fulltime trader I would sit there on my lunch shift and watch videos of big time traders pulling insane numbers
Like my yearly salary in one trade type of numbers
Everyone else around me didn't know this world existed
And when I did show people what I was doing they tried to clown it saying it's a scam or that's just gambling
They didn't know this type of money was out there for the taking
Everyone has been conditioned since birth that the only way to come up in this world is to go to college get a nice job and work your way up the corporate ladder
It's a lie
And once I learned about it....I couldn't let up
I could not just quit and pretend like I never saw what was possible
If I would have quit it would have always haunted me
Now I pull those crazy numbers that I use to watch back in the day on my lunch shift
It's crazy how life works
There are plenty of spots left at the table for those that want it
You reading this I'll see you at the top 🫡
Another day, Another Breached Challenge 💀
I recently failed phase 2 500k challenge at @fundedengineer . Phase 1 completed with solid risk control and super happy with 1% risk and passing in 2 days with a winning streaks, properly one of the best passing with 0 errors whatsoever.
Phase 2 unfortunately I wasn't that disciplined if not kindda rushing, risk parameters weren't as original plan and kindda everywhere. It's a mess and fully my fault. It feels worse than phase 1 losing phase 2 as it's way easier to pass.
I have been working on adjusting & optimizing my strategy as previous deep drawdowns & losing funded account indeed showed me potential flaws within the way I traded. During this time, I gotta admit that it's hard to keep executing flawlessly as I tried to keep changing things around. The result is, breached 😂
For the past week, reviewing all the losses, 275 old trades in live trading and more than 500 trades in simple backtesting, changing R:R, testing high R:R, 1:1 to negative R:R...... really showed me something. I adjusted & added a few things, still keep it as simple as I can. These losses again reminded me that I'm not good at executing complex strategies with many confluences.
The Goal is consistency & longevity & peace of mind.
The scaling plan at Funded Engineer is getting better and better each day, simply the best in the industry already. That's why I'm going to get funded again first, then go for more firms later.
There are many more legit firms in the space doing their best. Hopefully I can trade well first and experience more firms and share the good vibes.
Focus on the what matters.
Added watermark for my breached challenge Lmao 💀
Love & Gratitude