The biggest myth in trading is you have to be some sort of perfect person with perfect emotions. Nah. Mastering yourself is enhancing your qualities and improving your flaws. But you have to lean on your strength always. Even if some may consider your strength a flaw in personality. Hard to explain.
Who ever said that? 😂 that is a bullshit victim mindset statement.. no serious trader has ever said that. Every single one of them tells you they leave loads on the table and clearly make mistakes basically every single day 😂
Trade when your mad at your significant other see what happens. If your not right in the head that day even with all your rules data . There is a massive chance you will fk up.
Sooooo true. I traded out of desperation because I needed quick money. Bad mistake. It takes time, discipline, strategy. It will mess you up if you are not prepared.
You got a subscriber. I have been trading for 3 years and I lost a lot of money, time and finally stumbled upon a setup that works for me. Knowing your own personality is very important and picking a setup or making one based on that is the perfect blend. Well said brother.
Brother i will tell you now incase you are just beginning, that only 1% of day traders make money in the long run, do not think you will be the exception, the amount of AI and algorithms within stocks and shares brings it to an effective economic equilibrium making it borderline impossible to actually 'win money', if something works, everyone does it making it no longer profitable. Take your money and put it into an index fund like VTI, VOO, VXUS, VT which are all really good ETFS, if you want a slightly more risky one when youre younger to get a higher yield (not playing with your retirement money as an old man), something like VUG is good (this was a copy paste i made so ik ur noit in the beginning)
Idk but i guess that's why having stoploss is important. So it filters out trades that are against your system? I think rather than the system fking up your entire capital, it is more about the trader having a risk management system that prevents you from losing too much when your "trading system" gets caught in the algorithm... And earning enough to cover one or two losses + profit when your "trading system" evades the algorithm and works.
@@turtlecat3507 That 1% statistic is flawed. Here's why. 100 "traders" sign up at a brokerage. 95 make a deposit, 90 take at least one trade. Of those 90, 40 quit right away finding out how risky trading is, 50 stay. 40 of those 50 have families, jobs, or another obligation that they subjectively find more important than trading and do not take trading seriously (as you must to make profit.) 10 take it seriously and trade for at least a year. By that time 5 of those 10 have quit due to lack of long term discipline/risk management (100% controllable). Of the 5 left 1 goes all out with trading and gets funded at a prop firm, the other four may make small profits over time and continue trading as a hobby/spare income. This cycle is continuous. There's always a new wave of fresh rookie traders being added to the loss statistics. Therefore simply by dedicating yourself to learning and sticking with it long term, you are already putting yourself above the other 95%. I've seen you under multiple comments discouraging people about trading. Go focus on yourself if you have nothing positive to say here. Best.
Yup. Traded for about a year with a bit of money. I am not an emotional person, but trading took me to those highs and lows. I could feel amazing after one trade then feel worthless after another. It's crazy, but if you can controll your spending, it's also pretty fun.
I heard write everything down my first 2 years. I never did. I thought it was stupid. I didnt become a good trader until I started writing everything down. Why my trade didnt work, what was the market like, etc. Im a price action trader and my go to is inside bars. I still lose, but I have a much better win rate. And I dont trade with hope. I set my levels and when I get an alert you just go from there.
The biggest trigger I have about teaching traders is that they SAY they want to trade and yet their actions, process, procedures don’t corroborate them wanting to really be a trader.
Please teach me trading I have a massive passion for trading, seeing your comment makes me agree that most people won't actually do it properly, almost all my waking hours are about investing and daytrading. Please teach me
All these day traders get keeping and acting like they know anything about a market losing their bank accounts, while some kid holding crypto makes 10x their net worth in 1 day 😂😂😂, cringe
Nice video as always but here is my problem I have been making losses trying to make profit in trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
As a beginner who don't understand how trading really works and you really want to make profit from it. I will advise you to first start working with an expert
The biggest thing I learned early is that (if the trade isn't going my way) I panic when I don't know what I'm doing. I don't do well with uncertainty. So, every trade I make has to have a detailed plan. Stay disciplined; fight temptation to jump into things that look good at first glance.
Great advice Umar, I am working ver hard on this long journey and enjoying this learning process. No rush until I feel like it´s time to start trading without emotions or impatience.
I’ve been on a really hot streak for like 3 months now. I wouldn’t say I’m a “day trader” but I’m a “daily trader”. Some positions are short term, some are long term plays. I don’t trade on usual metrics, I’ve just been going with companies that I believe are doing the right thing and headed in the right direction. I believe they’re positioned well with their debt, cash on hand, market share, and most importantly product offerings and innovations. And I’ve hit major growth on literally *everything* for months now. Most of it has been in tech, as that’s what I understand the best. I caught 10 shares of NVIDIA 2 days before the 30% jump this week (I know that doesn’t seem like a lot to many people but it’s a lot to me) as a great example. A lot of this has been just “feelings” and “hunches”. The only thing that’s not really performing well is my index fund holdings. I’m aware this is not a great long term strategy. And I’m not stockstradaumus. But for what it’s worth I’m dumping virtually all of my individual stock holdings on Tuesday. Idk why. Call it a hunch. Believe me or don’t. But I think we’re hitting 52 week highs for a lot of these tech companies because they’re beating Q2 projections, they’ll stagnate through the summer, maybe losing 2-5% over the next three months, and we’re looking at a fall crash. Could be wrong. But it’s what I’m feeling in this current market that I’ve been very very right on. Do what you will with that.
I don't take it super serious, and I'm still learning a I go, but I'm a LOT more successful than I ever thought I would be. My hope was just to make an extra 2k per month, but within the 2nd week, I was making 5k per week on about 2 trades a day during London market (except the 2 days prior to NFP).
Glad to see your video on my feed. I used watch a few other TH-camrs, bought courses and trading tools.. and followed trades of a couple of em I'm down so much so I stopped watching altogether…210k to 80k. It got addictive. My resolve is the lot are amateurs.
Before you make an investment decision, consult fiducial advisers, taking advice verbatim from youtube is like going to the intern to take lessons passed on from professionals.
You can find them online, make sure theyre registered, have a fduciary responsibility with no disclosures, I work with LOREN LENA WALKER. Some work with commissions, either way negotiate like your life depended on it
hello irenatrulove can I get a phone-no to this advsor you use? What are the fees like? And what is the risk/reward with working with one. I had short positions and got margin calls over 30k when the market began to pump on both accounts
Purvis, If you care for supervision do your own research. what does it look like leaving a number in comments? It will be unsolicited to do that on someone else’s channel. I have made a killing and drawn over 350 thousand in the past 7 months.
I've been saying this to myself until I hear you say it today. Trading will definitely expose your personality flaws. Therefore you must become a better human being in order to become a better trader. That's my experience.
Discipline is the biggest factor in all of trading learning to take a loss and putting a stoploss to avoid blowing up your account is the one thing every trader needs to master!
Yep. Learned lots about myself and how I react to things when dealing with stocks. Learned what's best for me is to find something long term and let it ride. I create a net negative if I day trade and let my emotions interfere.
started trading 3 weeks ago and blew already 80% of my account. I ve had more valuably lessons about myself in this time than in the last year combined.
As a brand new trailer I traded $300 into $90,000 in 4 months and got greedy and tried to flip that into a million. Because I wasn't making my goal I got emotional and started revenge trading until I lost. I taking a break and next time I will learn from my mistakes
One of the biggest issues I never hear are people who are at work during trading hours. The ones who don’t have a strategy the way your saying are likely at their day job and can’t take it as serious as you say. At least that’s my thinking
The last part about emotional flaws is an actual thing. It's very critical to understand yourself in trading, for example, if you're very impatient by nature. Swing trading won't work for u and vice-versa. Even how much drawdown you are able to take is very important. ✌️
The directions of the financial market either (resistance,up trend or support,down trend) is the foundation of success in trading, bracking the rules would always lead to emotional damages, and blowing of accounts.
The reason most people suck at it is because it's a negative sum game. Short term traders make money from losing short term traders and it's negative sum because of the transaction fees.
It’s really not for everyone. There’s no shame brother. It’s a really tough business and the reality is most people never make it. If it was easy everyone would do it. Most people you see online are fake
That means your destined for great things if you maintain faith in King Yeshua. He will bless you surely and abundantly and guarantee your eternal residence. Patience is key. In the mean time learn His ways and be proficient in it. You will be above the scams if the world, of which include trading on the stock market and selling future generations away into bandage. You will be free and thus you will promote freedom in all you do. As long as you remember your King, Yeshua is He, and He loves you very much
So its harder than it look. Like fr everybody its so much. You can either treat it as gambling or really focus and study this stuff. I haven't started cause im still learning bro like fr. I hope this work out. Once I complete this understanding of this mission I will be satisfied and take it to new heights. I have to hype myself up and everybody else. Believe it or not we have to change the future bro
Literally all you need. It took me so long to understand that. Was always looking for the best indicator and trading on smaller Timeframes. Learning charts is really like learning a language.
In addition, if you want to master the market, you have to master yourself first. This means controlling/eliminating all emotions from a trade..@@onyx_vii7808
why ur not making money : you dont understand and dont take it serious. an awnser any human being can awnser for literally any skill based question. very helpful
Where I disagree is the first point. It’s exactly what you should do. Wake up perform and call it a day and do it again every single day. Some months are slow some months are great. Short term noise in equity curve is what throws off most traders.
I trade EU, works well when there is a Breakout, works better in trending condition, I have some data not so much still working on it, Average RR is 5 with Win Rate around 40-50% on Data. Thank you for pointing out what needs to be done.
I shouldn't be saying this because I'm just trading for only 3 days now but, damn, I'm getting a taste of my flaws. But on the good side, I'm learning and understanding it too.
Trading confirmed that I was impatient and very emotional and cannot control my impulses. So it’s been a battle but I’m slowly getting better. It’s funny how that works. He’s so right 😅😅😅
I had everything in a notebook, my edge is supply/resistance set on 4HR time frame w/ trendline continuations or failures depending on the distance/direction from aforementioned supply/resistance. My strategy worked best in the trending market- but is still possible in this consolidation period that appears to be breaking down. I’m three years in.
I 100% agree with the emotional flaws part because for myself I’ve had days where my emotions took over and I lost about 3 or 4 % of my funds just because of a simple tantrum setting me back a a few weeks
Brother i will tell you now incase you are just beginning, that only 1% of day traders make money in the long run, do not think you will be the exception, the amount of AI and algorithms within stocks and shares brings it to an effective economic equilibrium making it borderline impossible to actually 'win money', if something works, everyone does it making it no longer profitable. Take your money and put it into an index fund like VTI, VOO, VXUS, VT which are all really good ETFS, if you want a slightly more risky one when youre younger to get a higher yield (not playing with your retirement money as an old man), something like VUG is good
Mr Umar Ashraf, please I have no idea of trading, please how can I enter into this activity thank you so much. I will also like to get into your teachings.
You are true, I do analyze my trade every day win or lose. for last one year. And I know my edge. my only problem is I spend to much on R&D for next strategy.
Can i say that; we are not supposed to improve our flaws (we've past that age), we are supposed to understand it and create counter measures so your flaws don't affect your trading cuz like he said (and I have found it so), TRADING WOULD EXPOSE YOUR EMOTIONAL FLAWS
Guys please do not day trade. Over the long run you will always lose. Technical analysis isn’t real because a stocks price isn’t reflective of the company’s value at that specific point in time but rather the markets prediction of future earnings. This guy is selling you a lie. If you really want to be a P/L trader get a bas in math from a top 20 and break into quant trading. Warning tho u gotta be a genius. Source: I work in sales and trading.
My edge is I don’t have emotions because I’m a psychopath. I log every trade in a spreadsheet with entry time, exit time, indicators met, strategy, etc. My win rate is 92% all time. And since I scalp trade my monthly account growth is 22% per month all time average. I exit trades prematurely every day. And I enter on momentum so it’s very consistent to get 1% gains per day. And I trade 100% of my account balance on every trade like a psychopath.
The biggest myth in trading is you have to be some sort of perfect person with perfect emotions. Nah. Mastering yourself is enhancing your qualities and improving your flaws. But you have to lean on your strength always. Even if some may consider your strength a flaw in personality. Hard to explain.
Facts
Who ever said that? 😂 that is a bullshit victim mindset statement.. no serious trader has ever said that.
Every single one of them tells you they leave loads on the table and clearly make mistakes basically every single day 😂
Trade when your mad at your significant other see what happens. If your not right in the head that day even with all your rules data . There is a massive chance you will fk up.
@@GrgAProduction many TH-cam channels feed that information to people who don't trade or just began trading
More than working on your strength, it's about working on your flaws, learn from mistakes and not repeat them..
Sooooo true. I traded out of desperation because I needed quick money. Bad mistake. It takes time, discipline, strategy. It will mess you up if you are not prepared.
No you lost money because day trading so just gambling with extra steps. Dont get sucked into this cult of idiots...
True. But U also have to Go through that process.. to understand what will Happen
One thing is for certain, it is NOT quick money haha... oh if I had a nickle for every account blown due to this desire I would be a quadrillionaire
@@bedirsayar8443yup
@@bedirsayar8443 So true.
Damn. You just straight told me about my damn self. 😂
It everyone until we evolve our brain
Fr
So make yourself better
So true I’m learning how to control my emotions and that my mental stops must go before my physical stops
You got a subscriber. I have been trading for 3 years and I lost a lot of money, time and finally stumbled upon a setup that works for me. Knowing your own personality is very important and picking a setup or making one based on that is the perfect blend. Well said brother.
Let me help you
Is there any sort of community or fourm I can join?
Brother i will tell you now incase you are just beginning, that only 1% of day traders make money in the long run, do not think you will be the exception, the amount of AI and algorithms within stocks and shares brings it to an effective economic equilibrium making it borderline impossible to actually 'win money', if something works, everyone does it making it no longer profitable.
Take your money and put it into an index fund like VTI, VOO, VXUS, VT which are all really good ETFS, if you want a slightly more risky one when youre younger to get a higher yield (not playing with your retirement money as an old man), something like VUG is good
(this was a copy paste i made so ik ur noit in the beginning)
Idk but i guess that's why having stoploss is important. So it filters out trades that are against your system?
I think rather than the system fking up your entire capital, it is more about the trader having a risk management system that prevents you from losing too much when your "trading system" gets caught in the algorithm... And earning enough to cover one or two losses + profit when your "trading system" evades the algorithm and works.
@@turtlecat3507 That 1% statistic is flawed. Here's why. 100 "traders" sign up at a brokerage. 95 make a deposit, 90 take at least one trade. Of those 90, 40 quit right away finding out how risky trading is, 50 stay. 40 of those 50 have families, jobs, or another obligation that they subjectively find more important than trading and do not take trading seriously (as you must to make profit.) 10 take it seriously and trade for at least a year. By that time 5 of those 10 have quit due to lack of long term discipline/risk management (100% controllable). Of the 5 left 1 goes all out with trading and gets funded at a prop firm, the other four may make small profits over time and continue trading as a hobby/spare income. This cycle is continuous. There's always a new wave of fresh rookie traders being added to the loss statistics. Therefore simply by dedicating yourself to learning and sticking with it long term, you are already putting yourself above the other 95%. I've seen you under multiple comments discouraging people about trading. Go focus on yourself if you have nothing positive to say here. Best.
Trading is more about You Vs You than You vs the market.
Yup. Traded for about a year with a bit of money. I am not an emotional person, but trading took me to those highs and lows. I could feel amazing after one trade then feel worthless after another. It's crazy, but if you can controll your spending, it's also pretty fun.
True True
Treat it as a Business,
Livelyhood , stay serious and stay Focus
Be about it and
Pray about ❤🙏🙏🕊️
I heard write everything down my first 2 years. I never did. I thought it was stupid. I didnt become a good trader until I started writing everything down. Why my trade didnt work, what was the market like, etc. Im a price action trader and my go to is inside bars. I still lose, but I have a much better win rate. And I dont trade with hope. I set my levels and when I get an alert you just go from there.
The biggest trigger I have about teaching traders is that they SAY they want to trade and yet their actions, process, procedures don’t corroborate them wanting to really be a trader.
Please teach me trading I have a massive passion for trading, seeing your comment makes me agree that most people won't actually do it properly, almost all my waking hours are about investing and daytrading. Please teach me
Disciplined and Consistent Quality learning, save the quantity for Quantitative Analysis and the Law of Large Numbers.
@@Luciddreaming365
Understand time… how time affects the market and why
I will teach you for a month for FREE. @@Luciddreaming365
All these day traders get keeping and acting like they know anything about a market losing their bank accounts, while some kid holding crypto makes 10x their net worth in 1 day 😂😂😂, cringe
Nice video as always but here is my problem I have been making losses trying to make profit in trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
As a beginner who don't understand how trading really works and you really want to make profit from it. I will advise you to first start working with an expert
Could you recommend your advisor? I'll be happy to use some help.
Sonya Lee Mitchell is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
The biggest thing I learned early is that (if the trade isn't going my way) I panic when I don't know what I'm doing. I don't do well with uncertainty. So, every trade I make has to have a detailed plan. Stay disciplined; fight temptation to jump into things that look good at first glance.
Good advice! If people had their targets marked and their stop loss placed before even entering they would be in a better position
The point about emotional flaws is so so true!
Great advice Umar, I am working ver hard on this long journey and enjoying this learning process. No rush until I feel like it´s time to start trading without emotions or impatience.
Just remember it’s impossible to trade without emotions. You need to train your emotions. They’ll always be there.
I’ve been on a really hot streak for like 3 months now. I wouldn’t say I’m a “day trader” but I’m a “daily trader”. Some positions are short term, some are long term plays.
I don’t trade on usual metrics, I’ve just been going with companies that I believe are doing the right thing and headed in the right direction. I believe they’re positioned well with their debt, cash on hand, market share, and most importantly product offerings and innovations.
And I’ve hit major growth on literally *everything* for months now. Most of it has been in tech, as that’s what I understand the best. I caught 10 shares of NVIDIA 2 days before the 30% jump this week (I know that doesn’t seem like a lot to many people but it’s a lot to me) as a great example. A lot of this has been just “feelings” and “hunches”. The only thing that’s not really performing well is my index fund holdings.
I’m aware this is not a great long term strategy. And I’m not stockstradaumus. But for what it’s worth I’m dumping virtually all of my individual stock holdings on Tuesday. Idk why. Call it a hunch. Believe me or don’t. But I think we’re hitting 52 week highs for a lot of these tech companies because they’re beating Q2 projections, they’ll stagnate through the summer, maybe losing 2-5% over the next three months, and we’re looking at a fall crash.
Could be wrong. But it’s what I’m feeling in this current market that I’ve been very very right on. Do what you will with that.
You speak from experience , thats real man..
How do you know that for sure?
I don't take it super serious, and I'm still learning a I go, but I'm a LOT more successful than I ever thought I would be. My hope was just to make an extra 2k per month, but within the 2nd week, I was making 5k per week on about 2 trades a day during London market (except the 2 days prior to NFP).
When you see that these "mentors" are no longer mentors,
You've made it 😌👏
Big fan ❤️
Having a system changes your whole mentality. Even if you make a loss then also you are confident. One who loses without a system just gets scared.
What a powerful phrase!
Trading exposes your emotional flaws.
Glad to see your video on my feed. I used watch a few other TH-camrs, bought courses and trading tools.. and followed trades of a couple of em I'm down so much so I stopped watching altogether…210k to 80k. It got addictive. My resolve is the lot are amateurs.
Before you make an investment decision, consult fiducial advisers, taking advice verbatim from youtube is like going to the intern to take lessons passed on from professionals.
how can one get such an adviser?
You can find them online, make sure theyre registered, have a fduciary responsibility with no disclosures, I work with LOREN LENA WALKER. Some work with commissions, either way negotiate like your life depended on it
hello irenatrulove can I get a phone-no to this advsor you use? What are the fees like? And what is the risk/reward with working with one. I had short positions and got margin calls over 30k when the market began to pump on both accounts
Purvis, If you care for supervision do your own research. what does it look like leaving a number in comments? It will be unsolicited to do that on someone else’s channel. I have made a killing and drawn over 350 thousand in the past 7 months.
Exceptional analysis Omar, you've laid it bare🎉🎉🎉🎉
This man spitting facts 💯
Spitting facts all day long. Trading has learned me so much about myself and I'm just getting started.
Your comment about "trading will expose all your flaws" seared itself into my brain.😮
I've been saying this to myself until I hear you say it today. Trading will definitely expose your personality flaws. Therefore you must become a better human being in order to become a better trader. That's my experience.
100% when it comes to exploding the emotional flaws …. Yeap it just shows what’s our reality
Discipline is the biggest factor in all of trading learning to take a loss and putting a stoploss to avoid blowing up your account is the one thing every trader needs to master!
Thats what ive mastered as a beginner .
Finding that process is one of the hardest things to figure out.
Yep. Learned lots about myself and how I react to things when dealing with stocks. Learned what's best for me is to find something long term and let it ride. I create a net negative if I day trade and let my emotions interfere.
I never understood why people take big risks when they have enough funds. Give me that 50k and I'll never lose money.
started trading 3 weeks ago and blew already 80% of my account. I ve had more valuably lessons about myself in this time than in the last year combined.
As a brand new trailer I traded $300 into $90,000 in 4 months and got greedy and tried to flip that into a million. Because I wasn't making my goal I got emotional and started revenge trading until I lost. I taking a break and next time I will learn from my mistakes
The truth of it is each of your losses is someone else's gain, if you choose not to gamble your money you'll never lose.
This guy is always spitting facts
This guy knows what's he's talking,I think he's saying this based on experience, probably the mistakes that he did in the past
8 yrs and still at loss. I will make it now. The time has come. I can feel it slowly coming my way.
really??
@@Light_PainterWhat type of strategy you using?
@@Light_Painter nice, hope you will make more
@@Light_Painter what strategy do you use?
@@Light_Painter bro what
& that 2nd reasson is why i love trading, its like a mirror for my emotional flaws.
One of the biggest issues I never hear are people who are at work during trading hours. The ones who don’t have a strategy the way your saying are likely at their day job and can’t take it as serious as you say. At least that’s my thinking
The last part about emotional flaws is an actual thing. It's very critical to understand yourself in trading, for example, if you're very impatient by nature. Swing trading won't work for u and vice-versa. Even how much drawdown you are able to take is very important. ✌️
Trading is an art, not a science. That’s another thing people don’t understand.
Extremely important to have stop losses set or trailing stops
This guys shorts are gems upon gems.
If they were gems he wouldn't be doing TH-cam
Facts, it took me 3 years and shit load of money money lost before trading even and lil profit
Yes. It is really true trading exposes us. I keep making mistakes, i trade gold futures,
For losing traders, do the opposite of your emotion. Hit Sell instead of Buy and Buy instead of Sell.
Truth i have been waiting to hear since so long 👍🏻
Thank you Umar!
So true! I’ve learned a lot about myself 💯
The directions of the financial market either (resistance,up trend or support,down trend) is the foundation of success in trading, bracking the rules would always lead to emotional damages, and blowing of accounts.
The reason most people suck at it is because it's a negative sum game. Short term traders make money from losing short term traders and it's negative sum because of the transaction fees.
You speak from experience 👏👏
i tried 2 years ago and got the conclusion that im not cut out for it. now i rather think maybe i wasnt willing to reflect and improve.
It’s really not for everyone. There’s no shame brother. It’s a really tough business and the reality is most people never make it. If it was easy everyone would do it. Most people you see online are fake
That means your destined for great things if you maintain faith in King Yeshua. He will bless you surely and abundantly and guarantee your eternal residence. Patience is key. In the mean time learn His ways and be proficient in it. You will be above the scams if the world, of which include trading on the stock market and selling future generations away into bandage. You will be free and thus you will promote freedom in all you do. As long as you remember your King, Yeshua is He, and He loves you very much
Emotions are not flaws. Some of them just don't fit in trading and investing. It's absolutely normal to have fear of loss
So its harder than it look. Like fr everybody its so much. You can either treat it as gambling or really focus and study this stuff. I haven't started cause im still learning bro like fr. I hope this work out. Once I complete this understanding of this mission I will be satisfied and take it to new heights. I have to hype myself up and everybody else. Believe it or not we have to change the future bro
Stop... Market is manipulated. Its all about trend along with support and resistance and flow. Dont overthink it...
i agree with the trend idea i use 3 trend tools custom but i have automatic back tests on my tools with w/r roi profit ect ect
I personally just follow price action with S/R and candle confirmations. works like a charm@@Ai-Professor.1
I have like 3 systems to help understand what the hell is going on, price action, supply and demand , and fibonacci
Literally all you need. It took me so long to understand that. Was always looking for the best indicator and trading on smaller Timeframes. Learning charts is really like learning a language.
In addition, if you want to master the market, you have to master yourself first. This means controlling/eliminating all emotions from a trade..@@onyx_vii7808
why ur not making money : you dont understand and dont take it serious.
an awnser any human being can awnser for literally any skill based question. very helpful
Where I disagree is the first point. It’s exactly what you should do. Wake up perform and call it a day and do it again every single day. Some months are slow some months are great. Short term noise in equity curve is what throws off most traders.
Wow.. I'm speechless. Exposing oneself. So true.
Trading is like fighting, Knowledge is useless without experience.
Great point 👍
i don't understand how some people make trading so complicated with fancy words....keep it simple
Don't be serious on trading. You'll make money for sure. And please keep an external income. It'll manage your emotion in trading
The last line is facts,
Ready to learn and make that money
Thanks. I'm on the right path.
I put money on options and whatever I think I should pick I go with the opposite. Works 100% of the time 20% of the time
I trade EU, works well when there is a Breakout, works better in trending condition, I have some data not so much still working on it, Average RR is 5 with Win Rate around 40-50% on Data. Thank you for pointing out what needs to be done.
Pitchforks are the most accurate tool. I will teach you how to actually make money with it
Last line exactly 💯
I shouldn't be saying this because I'm just trading for only 3 days now but, damn, I'm getting a taste of my flaws.
But on the good side, I'm learning and understanding it too.
You earned a subscriber here for sure
The second thing is an attitude, the first one is only work. ❤
Umar continues to be the most real
It sounds mundane, but it's very true and very powerful
Golden advice here
Almost broke my computer just because of my anger when I was losing money😂😂😂😂 it's not easy very painful to watch
so true, keep it up! 🔥
Emotions? What emotions? Algorithmic trading baby 😎
Trading confirmed that I was impatient and very emotional and cannot control my impulses. So it’s been a battle but I’m slowly getting better. It’s funny how that works. He’s so right 😅😅😅
Any job does that until you master it. It becomes your character.
You are sooooo right.....
I had everything in a notebook, my edge is supply/resistance set on 4HR time frame w/ trendline continuations or failures depending on the distance/direction from aforementioned supply/resistance. My strategy worked best in the trending market- but is still possible in this consolidation period that appears to be breaking down. I’m three years in.
You are right on point!
Effectively all traders lose to a simple low cost index fund in the long term. Dont waste your time, just put your money in an index fund.
This is true im down 53k just starting to make money back from real trades now that i put my emotions aside.
I 100% agree with the emotional flaws part because for myself I’ve had days where my emotions took over and I lost about 3 or 4 % of my funds just because of a simple tantrum setting me back a a few weeks
Brother i will tell you now incase you are just beginning, that only 1% of day traders make money in the long run, do not think you will be the exception, the amount of AI and algorithms within stocks and shares brings it to an effective economic equilibrium making it borderline impossible to actually 'win money', if something works, everyone does it making it no longer profitable.
Take your money and put it into an index fund like VTI, VOO, VXUS, VT which are all really good ETFS, if you want a slightly more risky one when youre younger to get a higher yield (not playing with your retirement money as an old man), something like VUG is good
❗️❗️great information ℹ️
Amen....I found out more about myself since I've been trading. Patience is my biggest problem.
Mr Umar Ashraf, please I have no idea of trading, please how can I enter into this activity thank you so much. I will also like to get into your teachings.
Journal your trades and stay disciplined with the process. Stop focusing on the outcomes and focus on the process.
One of a young trader go deep about trade and free to tell every body about that. God bless him. Thank you so much.
You are true, I do analyze my trade every day win or lose. for last one year. And I know my edge. my only problem is I spend to much on R&D for next strategy.
Very good video. Spot on
100% learning so much day by day about myself.
Can i say that; we are not supposed to improve our flaws (we've past that age), we are supposed to understand it and create counter measures so your flaws don't affect your trading cuz like he said (and I have found it so), TRADING WOULD EXPOSE YOUR EMOTIONAL FLAWS
Thank you for sharing.❤
Guys please do not day trade. Over the long run you will always lose. Technical analysis isn’t real because a stocks price isn’t reflective of the company’s value at that specific point in time but rather the markets prediction of future earnings. This guy is selling you a lie. If you really want to be a P/L trader get a bas in math from a top 20 and break into quant trading. Warning tho u gotta be a genius. Source: I work in sales and trading.
A legit question: in July 2023 What are 5-10 examples of high-income skills when it comes to ecommerce? 🤔
My edge is I don’t have emotions because I’m a psychopath.
I log every trade in a spreadsheet with entry time, exit time, indicators met, strategy, etc.
My win rate is 92% all time. And since I scalp trade my monthly account growth is 22% per month all time average.
I exit trades prematurely every day. And I enter on momentum so it’s very consistent to get 1% gains per day.
And I trade 100% of my account balance on every trade like a psychopath.
Do you have any suggestions on how to get started on day trading?