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8-figure day trader Umar Ashraf sat down live with 15 unprofitable traders — and uncovered a truth most traders don’t want to face. One trader had a plan. A solid one. 5 trade max per week. 1–2 trades per day. Size staying consistent. But he was still losing. "My...

19,820 görüntüleme • 3 ay önce •via X (Twitter)

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He's right, I do have it in my notes because he did say it! 😆 On multiple instances, but here's him saying it on Trader Round Up: Timestamp 1:00:00 “They have to have the last two Mondays and the last two Fridays always, because they are the beginning and the end of the week.” ---- Timestamp 59:53 "In fact, every Monday, you should have two Mondays and two Fridays. In my opinion, if you’re going to ask me, like I teach my sons, they have to have the last two Mondays and the last two Fridays always because they’re at the beginning and the end of the week. So that’s what Cameron made money with today. He used information that is gleaned from that range, where we’re at in price action, and using the higher timeframe expectancy that we saw, that rejection when it went up to take that short term high." ---- Timestamp 1:00:46 "But every one of you listening, if you were my kid, if you were sitting with me, you would be hearing me tell you: Do you have two Mondays worth? Do you have both Fridays? Present today’s Friday and then last Friday’s Opening Range high, low and close, and the gradient levels on it? And then where are we in relation to that? Are we significantly above it, significantly below it, are we in close proximity to it? Because Monday’s Opening Range gap and Friday’s Opening Range gap are like a big huge draw on liquidity. It'll act like a big magnet. Not all the time, it’s not a panacea, but if we’ve traveled a lot one way, those Opening Ranges tend to be a factor on the close of the week and the beginning of the week. So Monday’s trading and Friday’s trading, using that framework that includes two weeks worth of Monday and Friday, have them in there. Even if you don’t want to carry Tuesday, Wednesday, and Thursday, the week prior to last week at least have that previous Monday in there, because that way you’ll gonna have a full range of opportunity that the algorithm will refer back to."

Pipmunch

189,637 görüntüleme • 1 ay önce

A 1988 Chicago Trading Pit documentary accidentally described the exact reason 90 percent of modern retail traders will never stop until they blow up. The film was shot in the peak years of open outcry, back when trading meant shouting yourself hoarse in a physical pit, taking speech therapy at Schwab Rehabilitation Center, and sometimes ending up in the medic's chair with a busted lip from a fistfight over a trade. At 16:34 in the film above, one trader said this. "When I first started I heard stories of other traders making 50 or 100 thousand a day. I said if I made that kind of money I would quit. I would take the summer off. When I had my first five-figure day, ten thousand plus, I found myself in the pit the next day." He made his summer's worth of money in one session. He came back the next morning. Every retail trader today who says "if I just double my account I'll cash out" is that trader. Every day-trader who promised themselves they would quit after their first six-figure year is that trader. Every options gambler who tells their spouse "one more good week and I stop" is that trader. The 1988 documentary called it the game. The people who stayed in it called it being a gladiator. The paramedics on duty at the exchange called it a job. Modern brokers call it engagement. Every Robinhood push notification is designed to reproduce the pit floor without the paramedics. That single confession from a Chicago pit trader in 1988 has probably explained the last four decades of retail blowups better than every behavioral finance textbook combined. Retail traders build spreadsheets tracking P&L in real time because they cannot look away from the score. Options traders open the app on the toilet because the pit is now in their pocket. Prop shop hires get told the money is what matters when the actual driver is the same dopamine that trapped the 1988 gladiator. The full 19-minute documentary is above. Almost none of the viewers have actually asked themselves what number would make them walk. The framework is free. The willingness to actually name the number that ends the game before you get there is the entire edge.

Kursor

142,647 görüntüleme • 10 gün önce

Losses in forex is inevitable Basically what happens is that when a trader loses money in the Forex market, the money does not go to any particular person or entity. Instead, the money is considered a loss and disappears from the trader's account. When a trader loses money, the losses are simply deducted from their trading account balance. When a stock tumbles and an investor loses money, the money doesn't get redistributed to someone else. Drops in account value reflect dwindling investor interest and a change in investor perception of the stock. The best way to deal with a big trading loss is to take a small break. Consider your strategy and your position size before jumping back in. When you do decide you are ready, start small. If you are trading as an institutional trader, you will be taxed just as any other employee. In case you are a retail Forex trader, you will need to report your profits and losses. Retail Forex traders use a Form 1040 or Form 1040NR in the USA. Either trading too big or too often is the most common reason why Forex traders fail. Overtrading might be caused by unrealistically high profit goals, market addiction, or insufficient capitalization. The maximum loss per trade can be categorized into three levels: conservative, moderate, and aggressive. Traders who are conservative about safeguarding their capital will take a chance of no more than 1% on their total trading capital per trade. Good morning traders

FxLion

25,437 görüntüleme • 2 yıl önce

8 years back, I spoke to jack schwager, the man behind the Market Wizards series. Sandeep Rao - SEBI Reg. RA🖖 spoke to him again recently on In The Money, and it was an interesting conversation. Market Wizards is probably the only book I've read multiple times when I was trading actively. The one thing that stood out to me from the video was the debate between systematic vs. discretionary trading. There's a common assumption that the best traders are rules-based, meaning they follow a fixed set of rules. The logic is that this helps them keep their emotions in check so they can follow the signals dispassionately. But what Jack found among the traders he interviewed was that almost all of them were discretionary traders. They had rules, but they knew when not to follow them. Meaning, they knew when their approach wasn't working and when they had to change the "rules" they were following. The one purely systematic trader he ever profiled kept changing his systems. He once showed Jack the equity curve of the original system he made his first money on. It went straight up while he traded it, and straight down after he abandoned it. If he had stuck to it with blind discipline, he would have been wiped out. At the very least, what this shows is that there isn't just one way to make money. There are numerous approaches that work, and you ultimately have to figure out what works for you and stick with that approach until it stops working, because nothing works all the time. People change, the markets change, and so do the strategies. Full episode link in comments.

Nithin Kamath

71,860 görüntüleme • 1 ay önce