Thanks for your insight. One breakthrough that I have learned is the importance of tracking my trades (excel). Without some form of a database, I wouldn't know if my strategy or edge really works.
That is Totally true, but not because is working now will work in the future, The past is not the future, so it's essential to keep researching "alpha" to get better in the models/systems you are trading
Same here. After I started to track my trades I very quickly found that I need to follow my stop loss religiously with my trading strategy. Funny enough, this made me more relaxed because I realized that my setup really is invalidated once it hits my stop loss. It's not arbitrary. I'm still not profitable with my day trades, though.
Thanks for sharing your research, even though you decided to stop trading. I think videos like this are way more important than the typical "make millions with this simple indicator"-videos. How do you trade now (if you are)? Do you trade longer time frames?
Yes, never out the market 🤩, I allocated the main trading capital in a house, I get less return but family is happy 😃… but this is another type of issues that I think is valid to talk about in a different video , when to trade or why to trade?… what do you like the most of all those ideas 💡? Can you share ?
@@ccorrales just rewatched the video to give you a good answer :) I liked the point about biases influencing your trading. When searching for an edge/system it's important to realize that even though it worked for n trades, it does not mean it will work for the next n. The winning trades could very well be attributed to variance, and you need to be aware of that. Also it's probably a good idea to keep refining a working system, because it will probably stop working at some point if you don't. "Choosing your input carefully" is something I think about often, but also too less. If someone wants to sell you something, there's a high chance that the content is oversimplified or wrong, because the goal is not to teach, but to sell. That's my main filter for content. Also, I'm going to read "Systematic Trading", because it was so influential for you. I'm curious what quant traders on X you find share their knowledge, and what you have learned from them. I follow some, but most give a very incomplete picture about what they do. E.g. they show what levels they are watching, but not why. Or what I struggle the most: What strategies there are, when you want to enter. You obviously want to enter very early, but what are the profitable traders thinking when they enter a trade at a specific point. Once a move is confirmed, the R/R is garbage. At least for me. I found some success when looking at lower time frames, but find it difficult to understand the probability that it will be valid for the higher time frame. "Maximizing returns correlates with minimizing stupidity". I can relate to that sentence so much. Having a trading journal really helps with that.
that's a good question, i have use many of them if not all, switching between them back and forward, i just use OneNote, i choose simplicity over anything else...
Thanks for your insight. One breakthrough that I have learned is the importance of tracking my trades (excel). Without some form of a database, I wouldn't know if my strategy or edge really works.
That is Totally true, but not because is working now will work in the future, The past is not the future, so it's essential to keep researching "alpha" to get better in the models/systems you are trading
Same here. After I started to track my trades I very quickly found that I need to follow my stop loss religiously with my trading strategy.
Funny enough, this made me more relaxed because I realized that my setup really is invalidated once it hits my stop loss. It's not arbitrary.
I'm still not profitable with my day trades, though.
Thanks for sharing your research, even though you decided to stop trading.
I think videos like this are way more important than the typical "make millions with this simple indicator"-videos.
How do you trade now (if you are)? Do you trade longer time frames?
Yes, never out the market 🤩, I allocated the main trading capital in a house, I get less return but family is happy 😃… but this is another type of issues that I think is valid to talk about in a different video , when to trade or why to trade?… what do you like the most of all those ideas 💡? Can you share ?
@@ccorrales just rewatched the video to give you a good answer :)
I liked the point about biases influencing your trading. When searching for an edge/system it's important to realize that even though it worked for n trades, it does not mean it will work for the next n. The winning trades could very well be attributed to variance, and you need to be aware of that. Also it's probably a good idea to keep refining a working system, because it will probably stop working at some point if you don't.
"Choosing your input carefully" is something I think about often, but also too less. If someone wants to sell you something, there's a high chance that the content is oversimplified or wrong, because the goal is not to teach, but to sell. That's my main filter for content.
Also, I'm going to read "Systematic Trading", because it was so influential for you.
I'm curious what quant traders on X you find share their knowledge, and what you have learned from them. I follow some, but most give a very incomplete picture about what they do. E.g. they show what levels they are watching, but not why. Or what I struggle the most: What strategies there are, when you want to enter. You obviously want to enter very early, but what are the profitable traders thinking when they enter a trade at a specific point. Once a move is confirmed, the R/R is garbage. At least for me. I found some success when looking at lower time frames, but find it difficult to understand the probability that it will be valid for the higher time frame.
"Maximizing returns correlates with minimizing stupidity". I can relate to that sentence so much. Having a trading journal really helps with that.
Interesting, thanks. I do relate with your experience.
What's your note taking app?
that's a good question, i have use many of them if not all, switching between them back and forward, i just use OneNote, i choose simplicity over anything else...