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Once again some great advice. There are numerous perhaps hundreds of vids on this channel with good advice and perhaps because of this a viewer may end up confused. Most successful traders find a way, strategy or technique that works for them and then repeat it over and over again. I would love it if Mark you can perhaps tell us how you trade every day? Do you have a single way that you repeat over and over and if so could you set it out here?
Biggest lesson i learnt in 2023 in the trading market is that nobody knows what is going to happen next, so practice some humility and follow a strategy with a long term edge.
After U lose a shitload of money, pain will reprogram Ur brain, you will not even think about not following Ur plan, you will let trade run for days until it hits the target. You have to lose a lot in order to make even more.
I’m in the same slump , what I found to help my self is to put my self in a bad situation like depositing my full bank account money or rent money it makes sure I don’t break rules
If you can’t stick to the plan, then you have a bad plan. 1. You may be risking too much on each trade, the lower you can get it the better(to keep you mentally and financially in the game). 2. You may be over trading in un-optimal markets. (Which can be fixed by creating your own regime change filter, known only by you). 3. You may be moving stoploss as market goes against you( can be fixed by steps 1&2 and using an Atr based stoploss that adjusts with the market). 4. You may be bad at exiting. ( you get good at exits when you learn to manage expectations with flexible risk to reward instead of 1:1 or 3:1 etc. The market might only give 3 pips, it might give 2000. You need some type of signal to get out, so there is no guess work while under pressure . This also applies to taking a loss. A lot of times your exit signal will get you out before your stop is hit automatically increasing your average risk to reward.) 5. You may be trading a timeframe that’s too low for your current ability. ( if you can’t analyze every candle that forms the timeframe is too low. If your are trading by hand the daily is probably your best bet to actually succeed). 6. You dont know how to code. ( learning to code will give you a super power that many do not have, and will allow you to trade lower timeframes. The less money you have the more skill you need. Your code should do as you told it and you won’t have to make any quick decisions that might make you deviate from your plan. Even when trading with a bot losing still feels like losing. You have to put the fear away of putting your all into something and still losing, and live with the outcome, not die about it.) hope this helps I’ve been trading 14 years and still learning to this day. Stick to it and you’ll make it.
This is one reason why I shifted to more fundamental trading, if there isn't any news that aligns with my assets (forex) and that won't give me any noticeable directional momentum then I don't trade that day, I literally take the day off. This has helped immensely to keep me focused on where to look for open the market and manage my schedule as well, no more sitting and waiting for setups.
Here's a tough question, how do I gauge the liquidity or more importantly - LACK THERE OF - without doing it my usual way of entering a position and getting stopped out in fifty points and wrecking my account for the day. - OR- Here's the other way....I wait and then the market moves without me..... Is this a damned if you do and damned if you don't scenario.....After all these years I'm leaning on that being the real answer. This always happens and the market doesn't even seem loose....but as soon as I enter the freaking algorithim pushes the market against me in such an aggressive manner it's unbelievable..... THAT'S MY QUESTION....You asked for comments and questions so this is mine. A tough one and not easily answered. So lets hear your response. UKspreadbetting.
✔ Trade with our Sponsor Broker: Pepperstone www.financial-spread-betting.com/ccount/click.php?id=89 Trade sensibly! 75.5% of retail investors lose money.
✔ We are seeking more contributors who can produce great video educational content about trading for our channel. If you think you have what it takes please get in touch by sending a message to traderATfinancial-spread-betting.com (remove the AT and substitute by @).
✔ It seems a lot of our viewers are non-subscribers. Make sure to subscribe to our youtube channel as we upload regular videos! If you hit the “Bell” icon () you will receive a notification on youtube every time that we upload a video on our channel. Bell icon hitters are super fans of our channel.
Once again some great advice. There are numerous perhaps hundreds of vids on this channel with good advice and perhaps because of this a viewer may end up confused. Most successful traders find a way, strategy or technique that works for them and then repeat it over and over again. I would love it if Mark you can perhaps tell us how you trade every day?
Do you have a single way that you repeat over and over and if so could you set it out here?
Biggest lesson i learnt in 2023 in the trading market is that nobody knows what is going to happen next, so practice some humility and follow a strategy with a long term edge.
That is the way. If only I could perform an action "Stick to my trading plan" consistently...
After U lose a shitload of money, pain will reprogram Ur brain, you will not even think about not following Ur plan, you will let trade run for days until it hits the target. You have to lose a lot in order to make even more.
I’m in the same slump , what I found to help my self is to put my self in a bad situation like depositing my full bank account money or rent money it makes sure I don’t break rules
@@wolflike1417 pls don’t there are other ways that are safer and work just as well. I made a long comment about it
If you can’t stick to the plan, then you have a bad plan. 1. You may be risking too much on each trade, the lower you can get it the better(to keep you mentally and financially in the game). 2. You may be over trading in un-optimal markets. (Which can be fixed by creating your own regime change filter, known only by you). 3. You may be moving stoploss as market goes against you( can be fixed by steps 1&2 and using an Atr based stoploss that adjusts with the market). 4. You may be bad at exiting. ( you get good at exits when you learn to manage expectations with flexible risk to reward instead of 1:1 or 3:1 etc. The market might only give 3 pips, it might give 2000. You need some type of signal to get out, so there is no guess work while under pressure . This also applies to taking a loss. A lot of times your exit signal will get you out before your stop is hit automatically increasing your average risk to reward.) 5. You may be trading a timeframe that’s too low for your current ability. ( if you can’t analyze every candle that forms the timeframe is too low. If your are trading by hand the daily is probably your best bet to actually succeed). 6. You dont know how to code. ( learning to code will give you a super power that many do not have, and will allow you to trade lower timeframes. The less money you have the more skill you need. Your code should do as you told it and you won’t have to make any quick decisions that might make you deviate from your plan. Even when trading with a bot losing still feels like losing. You have to put the fear away of putting your all into something and still losing, and live with the outcome, not die about it.) hope this helps I’ve been trading 14 years and still learning to this day. Stick to it and you’ll make it.
This is one reason why I shifted to more fundamental trading, if there isn't any news that aligns with my assets (forex) and that won't give me any noticeable directional momentum then I don't trade that day, I literally take the day off. This has helped immensely to keep me focused on where to look for open the market and manage my schedule as well, no more sitting and waiting for setups.
Thank you for great tips! You really helped me to realize something important.
Cheers for this, good grounding advice.
Hello sir, I am trading on 30 minute chart, how many trades should I hold at the same time?
Nice vid
Here's a tough question, how do I gauge the liquidity or more importantly - LACK THERE OF - without doing it my usual way of entering a position and getting stopped out in fifty points and wrecking my account for the day. - OR- Here's the other way....I wait and then the market moves without me..... Is this a damned if you do and damned if you don't scenario.....After all these years I'm leaning on that being the real answer.
This always happens and the market doesn't even seem loose....but as soon as I enter the freaking algorithim pushes the market against me in such an aggressive manner it's unbelievable..... THAT'S MY QUESTION....You asked for comments and questions so this is mine. A tough one and not easily answered. So lets hear your response. UKspreadbetting.