How come Jim Simons wasn't on TH-cam selling indicators? It's almost like he was too busy making billions because he had algorithms that actually worked. Everything is free - www.imantrading.org/
I didn't watch it yet, but can assure everyone reading this, yes, WE are the holy grails, like ImanTrading said. No strategy works if you, the reader, and writer of this comment, can not make it work. Sounds "stupid" or very simplified, but yes, a strategy is not the tool that gets the job done. It's our brain.
Everything you have said in your videos are things I remember realising when I started trading around a year ago. I would then go on TH-cam and nothing made sense. Even before you made the video on TradingGeek who I used to watch I always had this underlying feeling that he was a liar because I would see videos from other people and then he would come out with the same topics at the same times. At first I even thought it was just deja-vu. I always questioned if SMC is so good and reliable, why not just run an algorithm. Surely that would be simpler right? Its not exactly a hidden unthought-of solution and the answer is clear then I learnt how these things actually work and your entirely correct. You should stop giving people the answers because your going to get the market shut down. Make them read for themselves a little.
My cat meowed when you mentioned the cat meow trading system... coincidence? I think not... And that's why I'm now looking for just 10 lucky people to buy my cat meow trading system course at a limited time, crazy low price of $997!
Discretion is everything. It really doesn't take that long to understand how to read the chart and learn a strategy, even starting from absolute zero. What does take forever is the process of filtering out good/bad setups based on the context of the chart, which can only be gained through tons of experience and honest self-reflection.
So by this logic you can just teach an ai the strategy give him 20 years of data and let him use the strategy and filter the good/bad setups and after that that ai must be profitable? So Iman's logic of saying if these strategies work than make them an algo doesn't work. Just like discretion doesn't work since ai would be able to filter the good and bad setups better than any human being can
@@metotan34 I feel like it would just be easier to learn how to trade yourself. Major institutions have been trying to implement AI algos to trade long before AI became mainstream… for the most part the results have been lackluster. The closest they have is statistical quant models, also from my understanding it is incredibly tedious to build a time-series processing AI model anyway so you’re likely better off learning yourself. Why teach an AI to trade when you can teach yourself to trade?
You may never see this and it may not matter much but you’re the best trade channel on TH-cam. I’m a complete beginner at trading but I’ve researched enough hobbies and whatnot to know there’s always a ton of bullshit to weed through on ANY topic you research. I’ve watched probably 4 or 5 videos each from 20 or 30 different channels and have paid pretty little mind to most of them because I’m in the stage of this where I’m not really trying to retain the info in the videos yet I’m trying to see who’s here to teach and who’s here to make money off the thought of teaching. And watching your vids is definitely helping get passed the first step. Thanks for the work you do and keep it up. If your goal is to help beginners then you’ve definitely accomplished it. Again thanks for the insight and I look forward to keeping up with your vids.
I'm in pretty much the same position as you. I'm trying to weed through the clutter and find out what is actually useful. Hearing a lot of what Iman says has given me some real interesting things to think about and he has touched on a lot of subjects that I haven't really heard anyone else talk about yet.
hey idk if u will see that message but if u could share some or ur channel that u think is good to give a shot im in ( im french it’s also hard to find good trading channel in french, im switching to english)
Remember kids, discretion isn’t only a term used when someone is trading based on nothing but intuition. It also can be used for any percentage of intuition in the process of making a trade. For every trade you always use some intuition. (Good or bad) bad intuition is a huge reason people don’t become profitable. Learning to trade could almost be simplified down to changing your intuition about the markets from bad to good through years of the 2 types of learning.
“All systems only start working when you decide when not to follow them” I’ve spent the last two years digging through everything trading from books to TH-cam videos to podcasts to Reddit forums and everything in between… and this statement has to be the single most profound and impactful thing I’ve heard yet. All I can say is thank you! 🙏
Trading is rather simple. React, don’t predict. Cut out noise of the masses (90% fail at this) Have insane amount of resilience and drive Learn endlessly from what doesn’t work True the process and the profits will follow Process > process There is no holy grail after I searched endlessly for 3-4 years. Price action is all you need.
You can make money by reacting AND predicting. It depends on your system. Resilience and drive alone aren't going to do much for you. There are a lot of resilient and driven people that never accomplish much. Everyone's process is different.
@@Darryl147 that’s hilarious, unfortunately I am not a bot. Would probably get a lot more done if I were though. Flowery choice of words tho, agreed. You got me there.
FACTS!! trading is so personal that it is very difficult to be profitable by following someone else's strategy. understanding your own unique preferences and pitfalls is absolutely key in crafting your own profitable strategy, and the more experience you have trading it, the better your intuition will be to help you execute!
This is exteremely underrated, big ups to you man. 'When your learning is targeted on something consistent, that's when good progress can be made'. This shows that every stategy can work, if you just stick with it and dont focus on anything else, then the experience will make that strategy profitable. Cheers
I have lost thousands by listening to fake gurus. The reality is that the game is highly manipulated but you can still make money. Just be patient and consistant and more than anything, pleeeasssee don't forget to put a stop loss to every trade you make. I got liquidated many times for refusing to put a stop loss. lost upwards to 3k in one day.
Great video! I really appreciate that you are covering aspects of trading that are nearly never covered by anyone else on youtube. You stand out in this space for that! Keep it coming bro.
Conditions: a conglomerate of information that most of people refuse to rely on as a criteria on their trading system. Market behaves differently almost every day because of economic drivers, some days it will run smooth and others it will be choppy due to that, market makers are either accepting and taking risk by positioning themselves making the markets move beautifully or just adverse to it leading to slow days. That's a very simple way to put it but the majority of "price action traders" have little to no understanding of macro economics, gamma levels, options, correlation and its inefficiencies, and the undeniable input within all of that is discretion, you can't trade with such robust system as if it was easily replicable by anyone, I'd say a big part of it is the intuition to grasp all of this information and know when to place a trade, it took me 5 years to realize that the market isn't just triangle and double top patterns lmao. Great video man, your comprehension on the concepts of trading is way ahead when compared to 95% of people who join this business
All i need is volume, price action, supply and demand zones, market awareness, and a liquidity tracker and i'm consistent. The best way to trade is the market itself, how buyers or sellers are hitting the market.
I know this is a 10 month old video. But I just found your content and it's awesome. Really like your realistic style and humor as well still being informative. Entertaining and educating. So many trader channels are just selling fake promises in the most serious way. This really is a breath of fresh air.
[I watched your video completely] consistency means doing something repeatable over and over and over again without even using any kind of emotion, but some people rather to name their emotions something else like experience, intuition or whatever. after three years of losing I came to the conclusion that if I had used the most sнitiest REPEATABLE SYSTEM in the world even if it would be a coin toss at the worst circumstances I would be breakeven and I could prevent all of those unnecessary losses, this are all my PERSONAL thoughts and I respect what you think anyway
Absolutely true. As soon as you have a losing streak. When even bigger like 5 losses in a row ( also depending on strategy, RR ) It starts affecting your psychology. You will 100% doubt your strategy. This uncertainty that what will happen next, handling your drawdown, looking at PnL (Also considering fees that you pay ) - is what makes trading so difficult. That's why it is psychology that matters. When you put money on table your psychology will be f*ckd up. Only if you manage position sizing, manage risk, also consider how fees will accumulate at end. You can find out that whether you will be profitable or not. But to even do that you will have to deal with uncertainty. It is like doing business - But investing in high risk startup. Even after you have backtested data that proves that your strategy works - when applying that in real life - You will see your PnL daily, losing streak drawdown - it will affect your decision making. You will tweak your strategy. Big fund managers have one big advantage ( depending on instrument they are trading - when it comes to fees paid and lot size profit ratio ) Also market conditions are different which means that probability changes accordingly. This fact itself also creates uncertainty and varying profit or losing month
I deeply respect your no-nonsense approach. I honestly think nobody has ever said what you are saying about strategies being a perspective through which you can learn price action. I have been a quant developer for 3.5 years and everything you say is backed up by the back tested numbers of hundreds of ideas. If you go back far enough, every strategy reverts to the mean. None are profitable long term. I had to come to the honest conclusion that I have been focusing on the wrong things for 3 years. Now I only study price action, never attempting to predict future price but instead react to price in real time. This is the only way.
amazing, i also found 1.33 to 11.50pm my time (gmt+10 just after the u.s open) is my sweet spot as i'm a short term trader too. logic if you need it: the action changes near 12.00 and often it is virtually a new session with the 4 hr chart traders coming into play. the only way around this rule is this. have a 2 hr sleep first, do the us open session and stop at 11.50 or shortly after, close trades. have a break till 12.05 off the computer and start again seeing it with new eyes and wait for a new move/direction. expect it to be quite different to the slightly earlier session. trade for about 15 to 20 min again and stop. check all trades are closed and turn the computer off so it's hard to come back to it. that's when you lose all of what you gained and more if you come back.
I have used rsi divergence and support and resistance or supply and demand zone ..... it worked for years for me and never failed in testing for over 20 years of data.... this was the only way i made profit
@@scalpESNQThank you for the comment on @nativeanish! Would you mind sharing some specific details on how to (day?)trade / your system using rsi divergence, supply demand, support resistance? Would highly appreciate your support in developing my trading consistancy. Cheers
@@ImanTrading tested for 20 years data... Testing 20 years of data took more than 2.5 months on 1 and 5 minutes timeframe on different instrument. Now after trading for over 2 year, started with very less capital and made enough to sustain my family and me for coming 7 years if the CPI is about 9.5% without doing any capital gain in upcoming 7 years but I am data scientist now works for investment bank so get very less time to trade and look to chart now. But TH-camr like you are very important for this financial industry to tell the difference between big money movement and how big pockets like hedge funds, mutual funds, investment bank are one who makes the market, generate profit from the market and how fake TH-camr and influencer are making fool to general trader in the name of indicators and trading strategies. I also want you to make videos and awareness on topics like "people think that market is just a ocean of money, people can put down their hands and take out money with some ponzy indicators and trading system" or "how general people are just victim of rivalries of institution trader". I hope you create awareness in this industry as much as you can...
Love your videos bro, you be getting your points across so well while cracking me up at the same time. Thank you for all the value you put into these videos. Definitely gonna keep going through your channel , its filled with so many gems.
You told me to watch this vid because I was lost and it honestly did educate me and contribute to the foundation needed to get into this trading gig. I still have no clue on exactly how to start I've quite literally been fuckin around on Tradovate market replays every now and then but I don't really know what I'm doing still.... It feels like everything I'm looking at is just in some foreign language and I'm just clicking and clicking. This vid did help though and I now have more notes so props to you I just need to continue figuring out a foundation to properly start. Tbh I think I just need to watch a Tradovate tutorial so I can actually know how to navigate through that bs but as for now imma watch wtv vid you mentioned in this one and continue with the notes.
You validated everything I began realizing myself. This is one of those rare videos on TH-cam. Thank you for summarizing my chaotic thoughts, and all I have learned but in a cloudy, unclear, hazy way, in a way that I couldn't do for myself, that helps me gain clarity and make sense of it all. You're a fantastic intelligence summarist guru ;) As a musician, sometimes you have a feeling of accomplishment when you really compose a great song and sometimes you are surprised that someone else thinks that of something you didn't really much about yourself or that it came super easy to you. Not sure where you are after creating this video, but if you personally felt that sense of accomplishment after making it because you put in a hell of a lot of work, completely deserved, you truly helped me, and if you didn't think much of it, because it came easy to you, it's definitely a hit and you may be a natural! Most likely both. Amazing work really. Much appreciated.
Hey Iman, (I know that's not your name, I forget it) I really appreciate your videos. I have been improving my ability to trade over time through *practice.* I greatly attribute my decision to just start practicing to you, and I am thankful for that.
Great video Iman!!! It’s really eye opening to me. I have jumped around from strat to start. I really just need to focus on what was working. And then be open-minded to tweaking it.
Can't say I'm 100% on you with your thesis. I believe a system has to be repeatable and the style has to be personalized to the trader. Adding discretion basically means not following the rules, as you can twick and system based on your personal perspective or feeling, I believe ( probably wrongly) that discretion must be part of the trader's trading process but has to be incorporated by repeatable and trackable rules. Edge are indeed created out of discretion (how otherwise can you create an edge being the market random) but the then created trading plan cant be influenced by discretion..if it is influenced, then you have a new edge, with new outcomes everytime.. see where im going with this! My 2 cents here. Love the channel, have a great day!
Bro Bro Bro Bro 🔥🔥🔥🔥🔥🔥 If only there was a button that gives a larger like I woulda been glad to use it … So enlightening man! Thanks! You don’t know how insightful this videos is, honestly!
Well... I cant thank you enough for all the content you share, especially the psychology itself. Knowing that I have ADHD has made the path a bit easier. You confirmed that 'feeling' I've always had by just putting 'probably has ADHD' on the right side, which is actually what I'd like for my trading style. I like data, and the only way I could get a huge chunk of it in a fast timeline was choosing scalping and really have long sessions on Sim accounts. I dont have many experience, but by now, I've tried a couple of trading style and some strategies. Started the journey in Day trading Forex to now practicing over and over again price action in Futures. I don't have enough lines to tell how much bs i found on the way, but really... no trader is like you and I'm really thankful for that. You're doing an excellent job... real job here...
Great video! This really helps paint the picture of all that needs to be done inorder to become a consistent profitable trader. Keep up the great contact!
I’ve been trading for over a decade. And agree with the video. But similar to your obs recommendation. I say go to trading view and use the long and short trade tool. Put that up. Screenshot that and save the pictures. After 100 trades. Look at them. Like a deck of cards you probably only actually have 4 styles of trades. Either ditch or fine tune the biggest loser. And maximize the biggest group of winners.
every strategy works if you master it. anyone who says other wise got burned trying something and just refuses to believe someone can be profitable with it lol
Thank you very much! For beginners like me who are going through the learning process and have just joined the NFC community, every insight and support counts.
I'm interested how you came to the opinion that: Any pattern / system will "appear" to work on large datasets (the markets) but nothing happens afterwards consistently enough for it to be automated on its own. I personally think it is possible to create a system which is fully automated and makes money consistently. The reason is simple - if it's theoretically possible to create a super advanced AI (think AGI), that is capable of picking up on nuances that humans do, then it doesn't make sense to say you can't automate a trading strategy and keep it future proofed. Basically AI should be able to get to a point where it's abilities match or exceed the discretionary abilities of humans. Obviously it wouldn't be called discretion with AI, it would just be a super advanced algorithm, but it would arrive at similar decisions. Once this level of computing intelligence is achieved I can't see how a human would be able to improve that computing intelligence because the computing intelligence will likely always have better ideas of improvements to be made on itself than humans do. So the idea that it will only work for a while doesn't work because in theory the computer should be able to adapt better than the human. What I am interested in is how the markets will change when several super intelligent computer systems are trading, I think you will still have some successful human traders not using AI to aid their trading, but I think the market dynamics might change to a point where it becomes very difficult to make money in the markets, simply because the good moves to catch will have to also be caught by AI, and there is only so much money to be made, so perhaps it means markets become less oversold and less overbought and market stays closer to fair value, reducing the volatility and making the markets more efficient. This would help the retail investor/trader, but I think be a bad thing for the professional trader because it would be very hard to outperform the retail investor. I don't know though. I am interested to hear people's thoughts about whether they think super advanced AI trading systems will increase or decrease volatility? Or do you think not much will change?
this will take a lot of code to implement and cost millions if humans do it. so after you get chat gpt to write that code for you, maybe your idea will work. let us know.
I doubt it requires AI, if a person can consistently trade then a machine can do it without thinking if the rules are made exact enough. If there are no exact rules then I don't believe it is actually a consistent system yet
hi Iman, I just started watching your channel and like many others, have also followed a lot of the gurus that you have exposed (but that's another long comment!) I have been trading for a couple of years now and have found myself having an edge and acting on it only to become stagnant because I wasn't discipled in following my own rules. So your point on having an edge is within reach for everyone, but only keeping yourself discipled to your own rules is what will make the difference between stagnant and successful trading.
Not gonna lie, this video changed my perspective and I give you credit for me passing 2 funded accounts challenge in 2 weeks. Thanks man, you're doing good work!
im the best trader in this comment section maybe of all time. average 2,82% every day with no day under 1% or even endet in minus. just btc spot . from 1145 usdt to 3860usdt. chance of 44 coin flips in a row 2,88% gain or loss everyday is 5,84 ^-14. i made this profit by letting my bot make 140k trades in this time and the chance to return to zero is 1^-300. chance of having a +-0% day is 1 in 1538 days when i look at gaussian normal disribution. belive me or not i dont care.
Your video perfectly sums up what any objective analysis of paid trading systems, courses and mentorships will tell us... if the product is so good, why not just trade it and get rich rather than going through the trouble of selling it to others? I know you said exactly that on your slides but it bears repeating... especially with highly leveraged instruments like futures... if a good, reliable rules-only system truly exists, a smart trader should be able to make millions off it.
Im soo used to hearing you talk about fake traders,i wasn't expecting much feom you but i actually got very educative content from this video,i just subscribed to your channel 👊🏾👊🏾
Great video and just what I was wondering. I'm a beginner of 7 months and rely on educated guesswork and instinct to give a fairly consistent about 90% win rate, though not rich yet as I'm still mainly in demo mode with an account/margin to match my tiny account and I'm just starting to get the hang of those nasty big stop losses. I've often thought instinct is the part rarely spoken about and maybe, like magic, it should stay that way.
I trade slow trades on big timeframes, (but with greater return) because I found that my strategy is less likely to be stopped by big high timeframe moves. I currently have a trade that has been open for over a month, and I find it very calming that I don’t even have it look at it for days and it won’t really have changed much
SMC is the most promising but I have realized there are two challenges: 1. Perfecting a strategy to the point of intuition 2. Teaching a strategy Traders seldom sink deep enough into any strategy before abandoning it, and I don't blame them. Strategies are sold as magic while they're not. It takes patience and much loss to turn a strategy into intuition. And I have seen profitable traders using very basic tools such as support and resistance. Intuition can't be taught, it can only be honed over time.
SMC is basic just like support and resistance, I believe what most of you guys do not understand is that support and resistance is not a stand alone strategy it is a component of a strategy.
@@owuorunmasked7969 I would love to agree with you but I can't SMC is a strategy comprising of different components down to confirmation and entry techniques but support and resistance is a component bro!!! Like there is literally no one who trades support and resistance only, then how would they enter their trades? How do they get entry confirmation? They all combine it with probably candlestick patterns which is another component that's it.
In my limited experience, coding pattern-based strategies is worlds harder than coding indicator-based strategies so I wouldn't assume that any pattern-based strategy can be easily coded and therefore eliminated by the market. There are also tools to handle many of the more subjective elements, so I also wouldn't assume that certain strategies are too subjective to be coded. In short, basically anything can coded, but expect it to be hard.
I think discretion is 100% part of the system. What you seem to be referring to as “discretion” is people doing whatever they want and imposing their opinions in the market instead of following the system. Your system should tell you exactly where/how/when/why you’re allowed to use discretion and what the limits are for doing so.
No... what I refer to as discretion is the definition of the word according to the dictionary, "The freedom to decide what should be done in a particular situation."
@@ImanTrading sure I’m not arguing against that but the distinction I’m trying to make is discretion in trading should not be “I feel like doing this, so I will”. There should be very specific scenarios in which you allow yourself to use discretion and bend the rules a bit. Otherwise you are arbitrarily imposing what you think should happen vs reacting to what is actually happening. It’s an emotional response for most people and they call it “being discretionary” when they have no clue what they’re actually trying to accomplish. I understand it is hard to truly quantify the discretionary parts of your system but you absolutely need to define when and how you do it or else it is arbitrary.
Hopefully that makes sense. I don’t think we really disagree on any of this, just think it’s important not to take that dictionary definition and run with it, doing whatever the hell you feel like and calling it being discretionary
@@masonconfer788 correct, I can’t remember if I included the difference between hope and intuition in the video or if I removed it to improve the speed and flow of the video.
This is good information. I am glad I found it. I can even apply to my "pay check" job to be less soul sucking when dealing with others and their inefficiencies.
These are not only applicable to trading. Journaling, gathering data etc. are best way to improve yourself in anything you do. From going to the gym, work, business and even your personality. I had some mental health problem, due to work (also physical health as I found later on). Because I was journaling, writing different notes also and so on, after I had like couple of sessions with great therapist I found, we were able to find what really happened. My therapist told me that the biggest lie which people still believe and is even used in citations is that "people don't change". All you need is environment and like 1% change a day. You will not see it, but others will. After 3 years of working in this toxic environment, my therapist " painted" 2 pictures of a person. Both of them was ME. They were completely different people. Concluding, the methods you emntiining here are ones which all should apply to their daily life. Not only as trader, but to better them self.
Can agree on the gym part. I write down everything i do, and now that im thinking: i stopped growing (muscle) as i paid less and less attention to what i was writing down, i should change that
Hey bro just started my trading journey like a month ago and just wanted to say thank you so much bro you don’t understand how much money you have saved me and many other people. Thank you for being your authentic self and not falling for the same things these fake gurus fall for. Much appreciated man and keep up the great work.
1 thing I disagree on is that charts look the same on different timeframes. This just simply isn't true. Trends are much stronger on higher timeframes. Higher timeframes are driven by fundamental supply and demand and economic factors while the lower timeframes are driven by deception and institutional price war tactics that try to achieve the higher timeframe trends as unobviously as possible. Technical strategies work better on lower timeframes while fundamental strategies work on higher timeframes.
Absolutely love this video. It is True only discretion on the traders part of when to use whichever setup allows the trader to learn going forward to improve hit rates. That kinda said you then get risk reward folks that swear you have to have one...... I don't I manage my risk as that is the only thing I control so if the reward keeps going up I don't force myself to take profit I instead move my stop up every so often until my discretion says I'm near the top or my stop is triggered!
Absolutely love this video. My take though is that this can be true only with 100% manual price action strategies. I don’t think what you’re talking about still 100% works with global macro strategies. Those are not based on pattern but on long term cycles and macroeconomic trends which are somewhat more predictable. That’s why it’s the most used approach in the professional world.
Everyone is different. Even if i teach you 1 strategy that works good for me, this not mean it works for you the same way. Theres no holly grail strategy, but there are some strategies that work's better than another. People think different, react different, so no surprise the same strategy don't work for everyone. You need to find what work's for you and stick with that. Only sticking with 1 strategy for a long time, after hours, day's in front of charts can make you better. You will start to recognize patterns and will know if has a probability to works or not. Look that i say "probability", that's because we all work with probability, and not certain. Of course, this aligned with a good risk management and discipline. This 2 in fact is way more important than the strategy itself. Even if you have the best strategy available around there, but if you don't have a good risk management and discipline, you deffinattely will fail. No matter how much money you will have.
This is very true i came to a realisation that i can't really follow anyone's trading plan so I am using what i learn to develop my on plan and understanding of the market.
Monthly to weekly time frames, support and resistance, 1 to 1 risk reward ratio and extreme patience seems to help me a lot. I see trading as a nice little side income and a good hobby definitely isn’t a get rich quick scheme
There will always be noise in the market. No one can ever explain every price move of every minute of every day. Being able to get in ahead of whales is a winning strategy regardless of fundamentals.
lol I dont know why sooo many "traders" feel all you have to do is x and be consistent. Literally anything works in trading the issue will be your human tendency to do the opposite
Chart indicators and patterns are not prediction tools; they are simply "Indicators". They just reflect the "past" and current stage of the price based on your personal analysis and research.
Depends on your weapon, rifle, shotgun, handgun or sword, all of them can kill your enemies but if you don't know how to use your weapon, you will going to die, same as your strategy
Honestly when I found your channel I was kind of disappointed. I just had discovered trading was something and watched videos about it on TH-cam. I was hyped, then i found your channel. I am verry lucky that youtube pushed your videos on my feed. They are a great balance between encouragement and realism ! Thank your for all the informations and for having openend (a little bit more) my eyes
How come Jim Simons wasn't on TH-cam selling indicators? It's almost like he was too busy making billions because he had algorithms that actually worked.
Everything is free - www.imantrading.org/
Head and shoulders shampoo pattern is my go to :)
I don't have much going in life... but at least I can be my own Holy Grail :D
I didn't watch it yet, but can assure everyone reading this, yes, WE are the holy grails, like ImanTrading said. No strategy works if you, the reader, and writer of this comment, can not make it work.
Sounds "stupid" or very simplified, but yes, a strategy is not the tool that gets the job done. It's our brain.
Everything you have said in your videos are things I remember realising when I started trading around a year ago. I would then go on TH-cam and nothing made sense. Even before you made the video on TradingGeek who I used to watch I always had this underlying feeling that he was a liar because I would see videos from other people and then he would come out with the same topics at the same times. At first I even thought it was just deja-vu. I always questioned if SMC is so good and reliable, why not just run an algorithm. Surely that would be simpler right? Its not exactly a hidden unthought-of solution and the answer is clear then I learnt how these things actually work and your entirely correct. You should stop giving people the answers because your going to get the market shut down. Make them read for themselves a little.
What is your edge? @imantrading
My cat meowed when you mentioned the cat meow trading system... coincidence? I think not... And that's why I'm now looking for just 10 lucky people to buy my cat meow trading system course at a limited time, crazy low price of $997!
Cat meow indicater 100% win rate confirmed?
Do I get a picture of the cat with the course?
do you have a promo code -10% pls ?
my cat purring nonstop while the market consolidating on 10sec chart. that speak something.
Discretion is everything. It really doesn't take that long to understand how to read the chart and learn a strategy, even starting from absolute zero. What does take forever is the process of filtering out good/bad setups based on the context of the chart, which can only be gained through tons of experience and honest self-reflection.
Direction is amateur, Entry is professional 🤝🏾.
holy u spoke pure gold dam
no other truth. well said
So by this logic you can just teach an ai the strategy give him 20 years of data and let him use the strategy and filter the good/bad setups and after that that ai must be profitable? So Iman's logic of saying if these strategies work than make them an algo doesn't work. Just like discretion doesn't work since ai would be able to filter the good and bad setups better than any human being can
@@metotan34 I feel like it would just be easier to learn how to trade yourself. Major institutions have been trying to implement AI algos to trade long before AI became mainstream… for the most part the results have been lackluster. The closest they have is statistical quant models, also from my understanding it is incredibly tedious to build a time-series processing AI model anyway so you’re likely better off learning yourself. Why teach an AI to trade when you can teach yourself to trade?
You may never see this and it may not matter much but you’re the best trade channel on TH-cam. I’m a complete beginner at trading but I’ve researched enough hobbies and whatnot to know there’s always a ton of bullshit to weed through on ANY topic you research. I’ve watched probably 4 or 5 videos each from 20 or 30 different channels and have paid pretty little mind to most of them because I’m in the stage of this where I’m not really trying to retain the info in the videos yet I’m trying to see who’s here to teach and who’s here to make money off the thought of teaching. And watching your vids is definitely helping get passed the first step. Thanks for the work you do and keep it up. If your goal is to help beginners then you’ve definitely accomplished it. Again thanks for the insight and I look forward to keeping up with your vids.
Thank you so much :)
I'm in pretty much the same position as you. I'm trying to weed through the clutter and find out what is actually useful. Hearing a lot of what Iman says has given me some real interesting things to think about and he has touched on a lot of subjects that I haven't really heard anyone else talk about yet.
Same here.
Same bro, and always try out using a marker sim before actually trading!
hey idk if u will see that message but if u could share some or ur channel that u think is good to give a shot im in ( im french it’s also hard to find good trading channel in french, im switching to english)
Price action + discretion = every trading strategy works. You’re the “strategy”
I love this comment
Any good resource to learn price action books or videos ?
@@arjunpudu799 hey hope youre doing well, did you find any videos that are worth the watch?
Remember kids, discretion isn’t only a term used when someone is trading based on nothing but intuition. It also can be used for any percentage of intuition in the process of making a trade. For every trade you always use some intuition. (Good or bad) bad intuition is a huge reason people don’t become profitable. Learning to trade could almost be simplified down to changing your intuition about the markets from bad to good through years of the 2 types of learning.
“All systems only start working when you decide when not to follow them” I’ve spent the last two years digging through everything trading from books to TH-cam videos to podcasts to Reddit forums and everything in between… and this statement has to be the single most profound and impactful thing I’ve heard yet. All I can say is thank you! 🙏
Trading is rather simple.
React, don’t predict.
Cut out noise of the masses (90% fail at this)
Have insane amount of resilience and drive
Learn endlessly from what doesn’t work
True the process and the profits will follow
Process > process
There is no holy grail after I searched endlessly for 3-4 years.
Price action is all you need.
I think following the trend and react based off a price action on smaller time frame helps alot too
Wrong. This guy will get cooked in the market.
@@StoicMagicians explain why please
You can make money by reacting AND predicting. It depends on your system. Resilience and drive alone aren't going to do much for you. There are a lot of resilient and driven people that never accomplish much.
Everyone's process is different.
Your honesty is so refreshing. Discretion is all, you touch on so many solid, unassailable points here. keep it up.
I feel like anyone using unassailable in a TH-cam comment has to be a bot, right!?
@@Darryl147 that’s hilarious, unfortunately I am not a bot. Would probably get a lot more done if I were though. Flowery choice of words tho, agreed. You got me there.
@@bluedatamedia apologies then, I am just impressed cause I had to Google the word.
FACTS!! trading is so personal that it is very difficult to be profitable by following someone else's strategy. understanding your own unique preferences and pitfalls is absolutely key in crafting your own profitable strategy, and the more experience you have trading it, the better your intuition will be to help you execute!
True. Everyone's mind works a little bit differently.
This is exteremely underrated, big ups to you man. 'When your learning is targeted on something consistent, that's when good progress can be made'. This shows that every stategy can work, if you just stick with it and dont focus on anything else, then the experience will make that strategy profitable. Cheers
I have lost thousands by listening to fake gurus. The reality is that the game is highly manipulated but you can still make money. Just be patient and consistant and more than anything, pleeeasssee don't forget to put a stop loss to every trade you make. I got liquidated many times for refusing to put a stop loss. lost upwards to 3k in one day.
Great video! I really appreciate that you are covering aspects of trading that are nearly never covered by anyone else on youtube. You stand out in this space for that! Keep it coming bro.
i love how this guy is down to earth and raw so underrated
Conditions: a conglomerate of information that most of people refuse to rely on as a criteria on their trading system. Market behaves differently almost every day because of economic drivers, some days it will run smooth and others it will be choppy due to that, market makers are either accepting and taking risk by positioning themselves making the markets move beautifully or just adverse to it leading to slow days. That's a very simple way to put it but the majority of "price action traders" have little to no understanding of macro economics, gamma levels, options, correlation and its inefficiencies, and the undeniable input within all of that is discretion, you can't trade with such robust system as if it was easily replicable by anyone, I'd say a big part of it is the intuition to grasp all of this information and know when to place a trade, it took me 5 years to realize that the market isn't just triangle and double top patterns lmao. Great video man, your comprehension on the concepts of trading is way ahead when compared to 95% of people who join this business
All i need is volume, price action, supply and demand zones, market awareness, and a liquidity tracker and i'm consistent. The best way to trade is the market itself, how buyers or sellers are hitting the market.
I know this is a 10 month old video. But I just found your content and it's awesome. Really like your realistic style and humor as well still being informative. Entertaining and educating. So many trader channels are just selling fake promises in the most serious way. This really is a breath of fresh air.
[I watched your video completely] consistency means doing something repeatable over and over and over again without even using any kind of emotion, but some people rather to name their emotions something else like experience, intuition or whatever. after three years of losing I came to the conclusion that if I had used the most sнitiest REPEATABLE SYSTEM in the world even if it would be a coin toss at the worst circumstances I would be breakeven and I could prevent all of those unnecessary losses, this are all my PERSONAL thoughts and I respect what you think anyway
those are some wise words man thank you
Absolutely true. As soon as you have a losing streak. When even bigger like 5 losses in a row ( also depending on strategy, RR ) It starts affecting your psychology. You will 100% doubt your strategy. This uncertainty that what will happen next, handling your drawdown, looking at PnL (Also considering fees that you pay ) - is what makes trading so difficult. That's why it is psychology that matters. When you put money on table your psychology will be f*ckd up. Only if you manage position sizing, manage risk, also consider how fees will accumulate at end. You can find out that whether you will be profitable or not. But to even do that you will have to deal with uncertainty. It is like doing business - But investing in high risk startup.
Even after you have backtested data that proves that your strategy works - when applying that in real life - You will see your PnL daily, losing streak drawdown - it will affect your decision making. You will tweak your strategy.
Big fund managers have one big advantage ( depending on instrument they are trading - when it comes to fees paid and lot size profit ratio )
Also market conditions are different which means that probability changes accordingly. This fact itself also creates uncertainty and varying profit or losing month
This is the MOST SENSIBLE VIDEO about Trading. Great content brother! Keep doing honest videos.
It took me 4 years to create my own strategy. This is helpful. Thanks.
Nice bro, what does it include?
@@Eddikaeseberg price action
@@Sniperentryforex do you add fundamental analysis to your trades?
I deeply respect your no-nonsense approach. I honestly think nobody has ever said what you are saying about strategies being a perspective through which you can learn price action. I have been a quant developer for 3.5 years and everything you say is backed up by the back tested numbers of hundreds of ideas. If you go back far enough, every strategy reverts to the mean. None are profitable long term. I had to come to the honest conclusion that I have been focusing on the wrong things for 3 years. Now I only study price action, never attempting to predict future price but instead react to price in real time. This is the only way.
amazing, i also found 1.33 to 11.50pm my time (gmt+10 just after the u.s open) is my sweet spot as i'm a short term trader too. logic if you need it: the action changes near 12.00 and often it is virtually a new session with the 4 hr chart traders coming into play. the only way around this rule is this. have a 2 hr sleep first, do the us open session and stop at 11.50 or shortly after, close trades. have a break till 12.05 off the computer and start again seeing it with new eyes and wait for a new move/direction. expect it to be quite different to the slightly earlier session. trade for about 15 to 20 min again and stop. check all trades are closed and turn the computer off so it's hard to come back to it. that's when you lose all of what you gained and more if you come back.
I have used rsi divergence and support and resistance or supply and demand zone ..... it worked for years for me and never failed in testing for over 20 years of data.... this was the only way i made profit
Been trading since 2010 and this is how I run my system also
@@scalpESNQhow to combine rsi with supply demand please help me
@@scalpESNQThank you for the comment on @nativeanish! Would you mind sharing some specific details on how to (day?)trade / your system using rsi divergence, supply demand, support resistance? Would highly appreciate your support in developing my trading consistancy. Cheers
“Never failed,” impressive. You must be insanely rich then.
@@ImanTrading tested for 20 years data... Testing 20 years of data took more than 2.5 months on 1 and 5 minutes timeframe on different instrument. Now after trading for over 2 year, started with very less capital and made enough to sustain my family and me for coming 7 years if the CPI is about 9.5% without doing any capital gain in upcoming 7 years but I am data scientist now works for investment bank so get very less time to trade and look to chart now. But TH-camr like you are very important for this financial industry to tell the difference between big money movement and how big pockets like hedge funds, mutual funds, investment bank are one who makes the market, generate profit from the market and how fake TH-camr and influencer are making fool to general trader in the name of indicators and trading strategies. I also want you to make videos and awareness on topics like "people think that market is just a ocean of money, people can put down their hands and take out money with some ponzy indicators and trading system" or "how general people are just victim of rivalries of institution trader". I hope you create awareness in this industry as much as you can...
"dont move the stop either" followed by "dont move the f*cking stop" really hits home
Love your videos bro, you be getting your points across so well while cracking me up at the same time. Thank you for all the value you put into these videos. Definitely gonna keep going through your channel , its filled with so many gems.
You told me to watch this vid because I was lost and it honestly did educate me and contribute to the foundation needed to get into this trading gig. I still have no clue on exactly how to start I've quite literally been fuckin around on Tradovate market replays every now and then but I don't really know what I'm doing still.... It feels like everything I'm looking at is just in some foreign language and I'm just clicking and clicking. This vid did help though and I now have more notes so props to you I just need to continue figuring out a foundation to properly start. Tbh I think I just need to watch a Tradovate tutorial so I can actually know how to navigate through that bs but as for now imma watch wtv vid you mentioned in this one and continue with the notes.
You validated everything I began realizing myself. This is one of those rare videos on TH-cam. Thank you for summarizing my chaotic thoughts, and all I have learned but in a cloudy, unclear, hazy way, in a way that I couldn't do for myself, that helps me gain clarity and make sense of it all.
You're a fantastic intelligence summarist guru ;) As a musician, sometimes you have a feeling of accomplishment when you really compose a great song and sometimes you are surprised that someone else thinks that of something you didn't really much about yourself or that it came super easy to you. Not sure where you are after creating this video, but if you personally felt that sense of accomplishment after making it because you put in a hell of a lot of work, completely deserved, you truly helped me, and if you didn't think much of it, because it came easy to you, it's definitely a hit and you may be a natural! Most likely both. Amazing work really. Much appreciated.
Hey Iman, (I know that's not your name, I forget it)
I really appreciate your videos. I have been improving my ability to trade over time through *practice.* I greatly attribute my decision to just start practicing to you, and I am thankful for that.
Price action is fractal - yes!!! I'm a total beginner and I noticed this right away.
Great video Iman!!! It’s really eye opening to me. I have jumped around from strat to start. I really just need to focus on what was working. And then be open-minded to tweaking it.
I’m jealous you didn’t include my strategy in the thumbnail 😂
I do agree, discretion is superior but refined mechanics is needed FIRST.
This is the best and most realistic trading video on the internet
Can't say I'm 100% on you with your thesis. I believe a system has to be repeatable and the style has to be personalized to the trader. Adding discretion basically means not following the rules, as you can twick and system based on your personal perspective or feeling, I believe ( probably wrongly) that discretion must be part of the trader's trading process but has to be incorporated by repeatable and trackable rules. Edge are indeed created out of discretion (how otherwise can you create an edge being the market random) but the then created trading plan cant be influenced by discretion..if it is influenced, then you have a new edge, with new outcomes everytime.. see where im going with this! My 2 cents here. Love the channel, have a great day!
Bro Bro Bro Bro 🔥🔥🔥🔥🔥🔥 If only there was a button that gives a larger like I woulda been glad to use it … So enlightening man! Thanks!
You don’t know how insightful this videos is, honestly!
Well... I cant thank you enough for all the content you share, especially the psychology itself.
Knowing that I have ADHD has made the path a bit easier.
You confirmed that 'feeling' I've always had by just putting 'probably has ADHD' on the right side, which is actually what I'd like for my trading style.
I like data, and the only way I could get a huge chunk of it in a fast timeline was choosing scalping and really have long sessions on Sim accounts.
I dont have many experience, but by now, I've tried a couple of trading style and some strategies. Started the journey in Day trading Forex to now practicing over and over again price action in Futures.
I don't have enough lines to tell how much bs i found on the way, but really... no trader is like you and I'm really thankful for that. You're doing an excellent job... real job here...
This is one of the better nuanced videos you've made. Even if i would convey is a bit different, you are pretty spot on.
Thank you for the video, your professionalism and your kindness in sharing your experiences and education.
You are the one and only person who shares 100% truth about trading and "gurus". I feel so much better after watching your videos. Bless you bro.
Great video! This really helps paint the picture of all that needs to be done inorder to become a consistent profitable trader. Keep up the great contact!
I’ve been trading for over a decade. And agree with the video. But similar to your obs recommendation. I say go to trading view and use the long and short trade tool. Put that up. Screenshot that and save the pictures. After 100 trades. Look at them. Like a deck of cards you probably only actually have 4 styles of trades. Either ditch or fine tune the biggest loser. And maximize the biggest group of winners.
every strategy works if you master it. anyone who says other wise got burned trying something and just refuses to believe someone can be profitable with it lol
You remind me of Ibby Ansari's deep dive videos 👍🏿 well done. Love and respect from Jamaica 🇯🇲
Thank you very much! For beginners like me who are going through the learning process and have just joined the NFC community, every insight and support counts.
As a beginner from where i can learn
@@bylydos1780😢 same prob
I'm interested how you came to the opinion that:
Any pattern / system will "appear" to work on large datasets (the markets) but nothing happens afterwards consistently enough for it to be automated on its own.
I personally think it is possible to create a system which is fully automated and makes money consistently.
The reason is simple - if it's theoretically possible to create a super advanced AI (think AGI), that is capable of picking up on nuances that humans do, then it doesn't make sense to say you can't automate a trading strategy and keep it future proofed.
Basically AI should be able to get to a point where it's abilities match or exceed the discretionary abilities of humans. Obviously it wouldn't be called discretion with AI, it would just be a super advanced algorithm, but it would arrive at similar decisions.
Once this level of computing intelligence is achieved I can't see how a human would be able to improve that computing intelligence because the computing intelligence will likely always have better ideas of improvements to be made on itself than humans do. So the idea that it will only work for a while doesn't work because in theory the computer should be able to adapt better than the human.
What I am interested in is how the markets will change when several super intelligent computer systems are trading, I think you will still have some successful human traders not using AI to aid their trading, but I think the market dynamics might change to a point where it becomes very difficult to make money in the markets, simply because the good moves to catch will have to also be caught by AI, and there is only so much money to be made, so perhaps it means markets become less oversold and less overbought and market stays closer to fair value, reducing the volatility and making the markets more efficient. This would help the retail investor/trader, but I think be a bad thing for the professional trader because it would be very hard to outperform the retail investor. I don't know though.
I am interested to hear people's thoughts about whether they think super advanced AI trading systems will increase or decrease volatility? Or do you think not much will change?
this will take a lot of code to implement and cost millions if humans do it. so after you get chat gpt to write that code for you, maybe your idea will work. let us know.
I doubt it requires AI, if a person can consistently trade then a machine can do it without thinking if the rules are made exact enough. If there are no exact rules then I don't believe it is actually a consistent system yet
Reminders + Journaling slides are gold. Don't normally leave comments on videos but this one was too good to not. thanks iman
Just like the girls that don't normally send nudes.
hi Iman, I just started watching your channel and like many others, have also followed a lot of the gurus that you have exposed (but that's another long comment!) I have been trading for a couple of years now and have found myself having an edge and acting on it only to become stagnant because I wasn't discipled in following my own rules. So your point on having an edge is within reach for everyone, but only keeping yourself discipled to your own rules is what will make the difference between stagnant and successful trading.
Not gonna lie, this video changed my perspective and I give you credit for me passing 2 funded accounts challenge in 2 weeks. Thanks man, you're doing good work!
im the best trader in this comment section maybe of all time. average 2,82% every day with no day under 1% or even endet in minus. just btc spot .
from 1145 usdt to 3860usdt. chance of 44 coin flips in a row 2,88% gain or loss everyday is 5,84 ^-14.
i made this profit by letting my bot make 140k trades in this time and the chance to return to zero is 1^-300.
chance of having a +-0% day is 1 in 1538 days when i look at gaussian normal disribution.
belive me or not i dont care.
Your video perfectly sums up what any objective analysis of paid trading systems, courses and mentorships will tell us... if the product is so good, why not just trade it and get rich rather than going through the trouble of selling it to others? I know you said exactly that on your slides but it bears repeating... especially with highly leveraged instruments like futures... if a good, reliable rules-only system truly exists, a smart trader should be able to make millions off it.
Im soo used to hearing you talk about fake traders,i wasn't expecting much feom you but i actually got very educative content from this video,i just subscribed to your channel 👊🏾👊🏾
Great video and just what I was wondering. I'm a beginner of 7 months and rely on educated guesswork and instinct to give a fairly consistent about 90% win rate, though not rich yet as I'm still mainly in demo mode with an account/margin to match my tiny account and I'm just starting to get the hang of those nasty big stop losses. I've often thought instinct is the part rarely spoken about and maybe, like magic, it should stay that way.
Lol 90% win rate. Did god tell you how to trade too.
@@Darryl147 I said "win" not profit and now, there is no God in my world, just how I like it.
I trade slow trades on big timeframes, (but with greater return) because I found that my strategy is less likely to be stopped by big high timeframe moves. I currently have a trade that has been open for over a month, and I find it very calming that I don’t even have it look at it for days and it won’t really have changed much
SMC is the most promising but I have realized there are two challenges:
1. Perfecting a strategy to the point of intuition
2. Teaching a strategy
Traders seldom sink deep enough into any strategy before abandoning it, and I don't blame them. Strategies are sold as magic while they're not. It takes patience and much loss to turn a strategy into intuition. And I have seen profitable traders using very basic tools such as support and resistance.
Intuition can't be taught, it can only be honed over time.
SMC is basic just like support and resistance, I believe what most of you guys do not understand is that support and resistance is not a stand alone strategy it is a component of a strategy.
@@thepeerlesstrader
To me it has higher predictive value than basic S&R
Confluence is KING
@@owuorunmasked7969 I would love to agree with you but I can't SMC is a strategy comprising of different components down to confirmation and entry techniques but support and resistance is a component bro!!! Like there is literally no one who trades support and resistance only, then how would they enter their trades? How do they get entry confirmation? They all combine it with probably candlestick patterns which is another component that's it.
This. This is actually the best channel I could've come across
very powerful set of videos man, THANK YOU FOR THIS 🔥💎
so true discretion is the best part edge you cant quantify context and conditions but if you could you would be the best quant firm in the world
Fact
In my limited experience, coding pattern-based strategies is worlds harder than coding indicator-based strategies so I wouldn't assume that any pattern-based strategy can be easily coded and therefore eliminated by the market. There are also tools to handle many of the more subjective elements, so I also wouldn't assume that certain strategies are too subjective to be coded. In short, basically anything can coded, but expect it to be hard.
I think discretion is 100% part of the system. What you seem to be referring to as “discretion” is people doing whatever they want and imposing their opinions in the market instead of following the system. Your system should tell you exactly where/how/when/why you’re allowed to use discretion and what the limits are for doing so.
No... what I refer to as discretion is the definition of the word according to the dictionary, "The freedom to decide what should be done in a particular situation."
@@ImanTrading sure I’m not arguing against that but the distinction I’m trying to make is discretion in trading should not be “I feel like doing this, so I will”. There should be very specific scenarios in which you allow yourself to use discretion and bend the rules a bit. Otherwise you are arbitrarily imposing what you think should happen vs reacting to what is actually happening. It’s an emotional response for most people and they call it “being discretionary” when they have no clue what they’re actually trying to accomplish. I understand it is hard to truly quantify the discretionary parts of your system but you absolutely need to define when and how you do it or else it is arbitrary.
Hopefully that makes sense. I don’t think we really disagree on any of this, just think it’s important not to take that dictionary definition and run with it, doing whatever the hell you feel like and calling it being discretionary
@@masonconfer788 correct, I can’t remember if I included the difference between hope and intuition in the video or if I removed it to improve the speed and flow of the video.
love it why 5 years of jumping strategy to strategy and frustration, you opened my perspective, love itttt new subs
You sound so much like David Spade - I'm always expecting the comedic spin 🙂 I'm subbed and your teachings are great.
This is good information. I am glad I found it. I can even apply to my "pay check" job to be less soul sucking when dealing with others and their inefficiencies.
you are single handedly the best youtuber that helped me. appreciate you dawg
These are not only applicable to trading. Journaling, gathering data etc. are best way to improve yourself in anything you do. From going to the gym, work, business and even your personality.
I had some mental health problem, due to work (also physical health as I found later on). Because I was journaling, writing different notes also and so on, after I had like couple of sessions with great therapist I found, we were able to find what really happened.
My therapist told me that the biggest lie which people still believe and is even used in citations is that "people don't change".
All you need is environment and like 1% change a day. You will not see it, but others will.
After 3 years of working in this toxic environment, my therapist " painted" 2 pictures of a person. Both of them was ME. They were completely different people.
Concluding, the methods you emntiining here are ones which all should apply to their daily life. Not only as trader, but to better them self.
Can agree on the gym part. I write down everything i do, and now that im thinking: i stopped growing (muscle) as i paid less and less attention to what i was writing down, i should change that
You absolutely spoke my mind in here fam, trading is literally using what works for you
I seem to do better when i set orders . I think i make better decisions without the pressure of having to make the decision in the moment.
Thanks for explaining it clearly!
The "K** if you trade after 9:50" got me real good, holy shit xD.
Hey bro just started my trading journey like a month ago and just wanted to say thank you so much bro you don’t understand how much money you have saved me and many other people. Thank you for being your authentic self and not falling for the same things these fake gurus fall for. Much appreciated man and keep up the great work.
A system based on a cat's meow seems very quaint and quite cute
A systematic trader can really relate to this video… This guy really knows what he’s talking about…
"Kys if you trade after 9:50'" XD, I also need that kind of motivational reminders.
Not even 20 seconds into video and yours animation already did cause pain in my soul. Congratz
good
i can relate so much - i always was bad at extremes but good at chops and consolidations in certain trading hours xD
1 thing I disagree on is that charts look the same on different timeframes. This just simply isn't true. Trends are much stronger on higher timeframes. Higher timeframes are driven by fundamental supply and demand and economic factors while the lower timeframes are driven by deception and institutional price war tactics that try to achieve the higher timeframe trends as unobviously as possible. Technical strategies work better on lower timeframes while fundamental strategies work on higher timeframes.
See if you can pass the test in this video: th-cam.com/video/ZbvZWvEgoMY/w-d-xo.htmlsi=Vgq7HDhD3dAcpNTO
Not a single person has so far
@@ImanTrading no I get it but the instrument I trade is very different on timeframes
@@infraredxray that’s why I was very clear about saying “within reason” during that section
You are one of the realest person in the industry rn, keep up the work!!
Absolutely love this video. It is True only discretion on the traders part of when to use whichever setup allows the trader to learn going forward to improve hit rates. That kinda said you then get risk reward folks that swear you have to have one...... I don't I manage my risk as that is the only thing I control so if the reward keeps going up I don't force myself to take profit I instead move my stop up every so often until my discretion says I'm near the top or my stop is triggered!
Absolutely love this video. My take though is that this can be true only with 100% manual price action strategies.
I don’t think what you’re talking about still 100% works with global macro strategies.
Those are not based on pattern but on long term cycles and macroeconomic trends which are somewhat more predictable.
That’s why it’s the most used approach in the professional world.
Just what I needed to hear at this very moment, thanks. I'll be re-watching this whenever it is relevant to me
This brings me a lot of hope. Thank you so much!
Everyone is different. Even if i teach you 1 strategy that works good for me, this not mean it works for you the same way. Theres no holly grail strategy, but there are some strategies that work's better than another. People think different, react different, so no surprise the same strategy don't work for everyone. You need to find what work's for you and stick with that. Only sticking with 1 strategy for a long time, after hours, day's in front of charts can make you better. You will start to recognize patterns and will know if has a probability to works or not. Look that i say "probability", that's because we all work with probability, and not certain. Of course, this aligned with a good risk management and discipline. This 2 in fact is way more important than the strategy itself. Even if you have the best strategy available around there, but if you don't have a good risk management and discipline, you deffinattely will fail. No matter how much money you will have.
You are invaluable, Iman
This is very true i came to a realisation that i can't really follow anyone's trading plan so I am using what i learn to develop my on plan and understanding of the market.
You have "the best" channel on trading and whatnot..... I've been a subscriber since u had like 10k.....the best content on trading ever!❤
10:04 4th bullet point in general goes hard
Note to self: In order to speed up all of this, trade a simulator for a year on the weekend ✍🏿
Monthly to weekly time frames, support and resistance, 1 to 1 risk reward ratio and extreme patience seems to help me a lot. I see trading as a nice little side income and a good hobby definitely isn’t a get rich quick scheme
TBH, this guy is possibly the only honest youtube trader in existence.
Naah, there is VP.
these are some top tier vids, hella informational and funny i’ve been binging for a minute
You can automate it if you backtest and forward test well.
Essentially what he’s saying is no strategy works without prior experience… this is what he means by discretion
There will always be noise in the market. No one can ever explain every price move of every minute of every day. Being able to get in ahead of whales is a winning strategy regardless of fundamentals.
Where do I find your trading rules ? Do you have them written down?
lol I dont know why sooo many "traders" feel all you have to do is x and be consistent. Literally anything works in trading the issue will be your human tendency to do the opposite
Head and shoulder shampoo pattern 🤣🤣🤣🤣 you're great
Chart indicators and patterns are not prediction tools; they are simply "Indicators". They just reflect the "past" and current stage of the price based on your personal analysis and research.
Depends on your weapon, rifle, shotgun, handgun or sword, all of them can kill your enemies but if you don't know how to use your weapon, you will going to die, same as your strategy
How to journal trading? Can you show some journals you have made?
I like your tip to record your trade and later go lack learn if that trade was good.
❤So much juice in this! Thank you! I needed the affirmation.
i felt you talking specifically to me on journaling lmao
Honestly when I found your channel I was kind of disappointed. I just had discovered trading was something and watched videos about it on TH-cam. I was hyped, then i found your channel. I am verry lucky that youtube pushed your videos on my feed. They are a great balance between encouragement and realism ! Thank your for all the informations and for having openend (a little bit more) my eyes