Donât listen to anyone else but yourself. Once you start letting other peopleâs opinions influence your already thought out plan, you start to doubt yourself and lose confidence in your own decision making. I am a naturally insecure person so this continues to be a challenge for me, but itâs not as bad anymore.
You are not alone, so donât be alone. Find a trading coach or peer group. There are fantastic groups to join with the most humble people you will meet and help with education, support and validation of your struggles: TopStepTrader community chat, futures.io, FT71âs youtube, etc.
Take care of yourself physically. The body fuels the mind. I suggest strength training over cardio. I say this because strength training is the practice of lifting heavier and heavier weights with the sole purpose of failing, so that futures higher weights lifted are yesterdays failures youâve over come. It is the perfect analogy for market movement: any resistance that is met with ease is indicative of little effort. When your lifting becomes easy, youâre not trying hard enough. When prices move easily, the participants are not trying hard enough.
God bless you all and I pray you find success, wisdom and peace in your day trading. It is the most fun Iâve ever had, the most freedom Iâve ever had and the most difficult thing Iâve ever done.
Keep your charts simple. If it looks like someone threw up trend lines, moving averages, entry/exit signals, clouds, oscillators, etc on your screens, you are doing it wrong.
Learn about volume. It is the single most important confirmatory piece of technical analysis that gives truth to the movement of price. That is my opinion.
Learn about order flow. This is as (or more) important as volume. Because order flow shows you what the buyers/sellers are doing in real time. You can see the contracts above and below being added or taken away. You can see the difference between buyers and sellers competing on the movement of price. Itâs more of an art than science.
Accept that losing is extremely common: like foul balls, strike outs, missed Minnesota Vikings field goals, net ball serves, etc. it is part of the âgameâ. You will have losses. The market will always move in the direction that will cause the most amount of harm to the greatest amount of people. But YOU get to decide how much harm and loss you will take.
Donât trade just to trade. Donât trade just because you are at your trade desk (or home office, or whatever you call your trading area). This was hard for me because my ADHD and impulsiveness put me into some bad trades, still does.
Set a daily loss limit in your software that stops you from trading anymore that day when itâs hit. One of my biggest mistakes (and I still do it sometimes) is ârevenge tradingâ. Itâs when you have a loss or two, big or small and you feel like you want to âget it backâ. This will destroy your account and success.
Donât chase. This was hard for me to do. My plan would trigger an entry for long/short and I would miss it, and see it running and I start to think, âThatâs 3 points of movement I just missed! There has to be more in it.â And then you enter and it moves against you. This will kill your account.
History proved that once BTC broke out ATH & macro bulltrend will run in 280-300 days (Blue boxes)
So this bullrun will finish at Q1-2025.
In this period BTC tends to outperform Alts in first days but once BTC starts consolidating Alts tend to recover sharply. Strong projects can give you ONCE-IN-A-LIFETIME gain in this period if you HOLD well in blue box. #DYORAlways #BTC #Write2Eam
One thing I have to say about halving is that the market has risen now with the rumors of this halving, after halving most of the whales will empty the market, we have a heavy fallâ
KSM doesn't have a bad chart either, but it can correct the price a little, and after that it will be attractive for long position, place an order for it, you can buy from the $50 range đđ„
All the points in the chart are clear đđ°$KSM #TrendingTopic #Write2Eam #DYORAlways
KSM doesn't have a bad chart either, but it can correct the price a little, and after that it will be attractive for long position, place an order for it, you can buy from the $50 range đđ„
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