How did my week go? Should I consider changing something?
Taking a look at my most marking activities this week, my thought process might interest some.
Reminds me of something... Slow choochooing trends.
I think they can be good. Always reminds me of NEO the crypto.
Was slow choo chooing then just skyrocketed up, mainstreet kindly throwing money for free at me ^^
In this game you are always going back and forth. Always tweaking it. Making compromises.
Constantly thinking. And every week or month (or quarter), or 🤢 day 🤮 for day traders, you don't come to fresh new conclusions but rather you add weight to your permanent conclusions and slowly steer the ship wheel the direction you consider the best.
It is a constant thing, there is no "end game", the markets change all the time so here.
Lazy bums that want "rich quick" might get extremely lucky, and then give most of it back, and then use their luck perf to sell courses on the internet (the shame).
Keep in mind there are less "turtle trader that made huge gains 40 years ago turned to education teacher on something that does not work" than lottery winners.
I gave up on plenty of things: Trading the waves 1 & 2, going for reversals on 5 (and previous ones except 3 if I think it is C), trying to enter too early on 3, trying to enter on 4 (but rather chase it after 5 went past 3), overstaying my welcome on vertical 5's.
Imagine being the guy that tries to catch every more and do every thing (when trust me they can never do just 1 thing right), these clowns always talk and years later, mathematically they should be billionaires, but where are they? Vanished. 100% of the time they are not even capable to understand that what they are saying leads to billionaire.
Real story I told someone ... he can make the biggest gains in history (according to himself) double digit percents in a day np ... "cool so in a month you will be billionaire", genius answer "I can't reach billionaire I don't have 1 million to turn into a billion I only have thousands" ... My eyes... My brain...
Are these people missing braincells? Neurons not connected?
I physically cannot bring myself to explain this xd
I've been taking on average 1 bet a day. That's a good 20/month. A bit more. This week I took 6 ones.
And I roughly estimate for every 10 1R goes away in spreads.
It is natural to always want to be in the market. And 1 excuse is even if some positions might not be the best, there is no better way to learn than being IN.
But I can counter this excuse. Being in less = more thinking, one can go further (there is no analysis paralysis only noobs with excuses) the more info or knowledge the better, it's infinite so... And another plus is take 100 trades you just won't remember anything, but take a few and they'll stay in there. I think I am at my limit, I can't recall all I have taken off the top of my head, but if I spot them it will come back most of the time. Big winners stay more :)
On the other hand you have this trading vip signal educator I recall vividly, going "my best trade was on gold I made so much bla bla bla" "oh nice, can you tell us more about it?" "emmm I do not quite remember" 🤣
These guys are just so funny.
You better have a good memory. Oh and also, not lie and just copy paste "education" (found for free on the internet) that you sell to gullible suckers.
I have been thinking all day about this actually, since midday, and I really do not want to take 0's. I sort of do Elliot waves but I have my own names and own rules and own waves idc about textbook I care about what I saw with my own eyes.
And when a trend goes, the first pullback that often happens around the break (just like with EURUSD) is the one I call... guess how? 0.
Fitting name because it truly feels like 0. I better enter on 1. My only regret this week is EURUSD, which I expected.
I am a little disappointed on NatGas, I thought after I quit my job this would never happen again... but of course here we go again...
I constantly get plenty of opportunities, I do not need to go for those... Feels really like forcing.
I am quitting this specific breakout early pullback join. 1 or 2 more R is not really worth it. No it is not just from that 1 EURUSD fail.
Normally here is where you do even MOAR backtesting to see how those go, and for once it is a quite easy backtest even after the move completed: whether it continued or reversed you can easilly spot those breakout-doesn't go far-pullback patterns on a chart.
I am not an expert at this but I am quite certain you rarely get 7R out of those.
Lovely. The theory in books tell you this is how they operate, the anecdotes tell you the same thing, the OG's say it too, and the market data keeps repeating the same thing.
Those are quick moves (down), this could even be a majority of day traders (you get rich quick even quicker by day trading right?) that ended up bagholding for 2 whole weeks because "but I don't want to lose I am scared".
They probably got so relieved, smiled, all the stress went away. Ye they'll get what's coming when it never comes back. Like Nick Leeson.
I love hearing anecdotes, and tricks and tips, and I love writting about it. Really trying to make short ideas but I just go on and on.
There is so much to think about, understand, talk about.
I feel very good about eliminating a pattern I hesitated about.
Reminds me of something... Slow choochooing trends.
I think they can be good. Always reminds me of NEO the crypto.
Was slow choo chooing then just skyrocketed up, mainstreet kindly throwing money for free at me ^^
In this game you are always going back and forth. Always tweaking it. Making compromises.
Constantly thinking. And every week or month (or quarter), or 🤢 day 🤮 for day traders, you don't come to fresh new conclusions but rather you add weight to your permanent conclusions and slowly steer the ship wheel the direction you consider the best.
It is a constant thing, there is no "end game", the markets change all the time so here.
Lazy bums that want "rich quick" might get extremely lucky, and then give most of it back, and then use their luck perf to sell courses on the internet (the shame).
Keep in mind there are less "turtle trader that made huge gains 40 years ago turned to education teacher on something that does not work" than lottery winners.
I gave up on plenty of things: Trading the waves 1 & 2, going for reversals on 5 (and previous ones except 3 if I think it is C), trying to enter too early on 3, trying to enter on 4 (but rather chase it after 5 went past 3), overstaying my welcome on vertical 5's.
Imagine being the guy that tries to catch every more and do every thing (when trust me they can never do just 1 thing right), these clowns always talk and years later, mathematically they should be billionaires, but where are they? Vanished. 100% of the time they are not even capable to understand that what they are saying leads to billionaire.
Real story I told someone ... he can make the biggest gains in history (according to himself) double digit percents in a day np ... "cool so in a month you will be billionaire", genius answer "I can't reach billionaire I don't have 1 million to turn into a billion I only have thousands" ... My eyes... My brain...
Are these people missing braincells? Neurons not connected?
I physically cannot bring myself to explain this xd
I've been taking on average 1 bet a day. That's a good 20/month. A bit more. This week I took 6 ones.
And I roughly estimate for every 10 1R goes away in spreads.
It is natural to always want to be in the market. And 1 excuse is even if some positions might not be the best, there is no better way to learn than being IN.
But I can counter this excuse. Being in less = more thinking, one can go further (there is no analysis paralysis only noobs with excuses) the more info or knowledge the better, it's infinite so... And another plus is take 100 trades you just won't remember anything, but take a few and they'll stay in there. I think I am at my limit, I can't recall all I have taken off the top of my head, but if I spot them it will come back most of the time. Big winners stay more :)
On the other hand you have this trading vip signal educator I recall vividly, going "my best trade was on gold I made so much bla bla bla" "oh nice, can you tell us more about it?" "emmm I do not quite remember" 🤣
These guys are just so funny.
You better have a good memory. Oh and also, not lie and just copy paste "education" (found for free on the internet) that you sell to gullible suckers.
I have been thinking all day about this actually, since midday, and I really do not want to take 0's. I sort of do Elliot waves but I have my own names and own rules and own waves idc about textbook I care about what I saw with my own eyes.
And when a trend goes, the first pullback that often happens around the break (just like with EURUSD) is the one I call... guess how? 0.
Fitting name because it truly feels like 0. I better enter on 1. My only regret this week is EURUSD, which I expected.
I am a little disappointed on NatGas, I thought after I quit my job this would never happen again... but of course here we go again...
I constantly get plenty of opportunities, I do not need to go for those... Feels really like forcing.
I am quitting this specific breakout early pullback join. 1 or 2 more R is not really worth it. No it is not just from that 1 EURUSD fail.
Normally here is where you do even MOAR backtesting to see how those go, and for once it is a quite easy backtest even after the move completed: whether it continued or reversed you can easilly spot those breakout-doesn't go far-pullback patterns on a chart.
I am not an expert at this but I am quite certain you rarely get 7R out of those.
Lovely. The theory in books tell you this is how they operate, the anecdotes tell you the same thing, the OG's say it too, and the market data keeps repeating the same thing.
Those are quick moves (down), this could even be a majority of day traders (you get rich quick even quicker by day trading right?) that ended up bagholding for 2 whole weeks because "but I don't want to lose I am scared".
They probably got so relieved, smiled, all the stress went away. Ye they'll get what's coming when it never comes back. Like Nick Leeson.
I love hearing anecdotes, and tricks and tips, and I love writting about it. Really trying to make short ideas but I just go on and on.
There is so much to think about, understand, talk about.
I feel very good about eliminating a pattern I hesitated about.