Trade identification (set ups) are waaaaaay over emphasized and contribute little to a trader's edge. How a trade is sized and exited and the management of emotions and process are far more important aspects of trading. The vast overwhelming obsession over set ups is misplaced
@nypost It’s not secret I see them spray everyday over the skies of New Jersey it’s horrifying. Blue skies get sprayed and turn the skies grey the rest of the day , followed by rain
Keep your trading simple. Your process must be consistent, repeatable and scalable. You should be able to explain the basics of your strategy in an elevator pitch. The more things change, the more they stay the same.
@tradertheory No matter what you do . Trail stops or wait to tp . If you trade long enough this will happen to you . Part of the game. Take the small loss and move on to next trade
Trading is only real after u pay taxes. Until then you aren’t profitable. You need to be consistent and only your numbers can prove that . This game takes 10 years plus. You have to know who you are as a person internally. You need full self control.
I rotate CL GC ES HG GBP. One or two will be trending above or below 200/100 day ma on big time frames. I stick with the direction until the party is over . Then rotate into a different market . Some trends last weeks to months and I will play pullbacks and continuations into the trend. I add to winners . Making 4-10 x my risk on any given trade .
Once u make it in trading and become consistent its becomes a job. The job is to follow the rules and stay consistent and not get to high or low. What I truly care about the most is my family and making sure I make an impact on people. Yea money can be exciting in the beginning . But that’s not what life is about . God is good
Two oil longs to start the week . 1 k each . One loser -250. The macro theme has been oil. War and all time high oil prices leading gas prices to go up substantially. All I care about is the technicals and what drives them. Above 200 and 100 day MA, the longs are smooth . I set targets and alerts when size is on and wait. $cl $mcl $war $es $gas