My Bad Start to Day Trading in 2023 | Full Plan 

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This is why you're one of the VERY few traders on the internet that I fully trust.

This was amazing, Umar. So many traders can relate to this, but few professionals are this transparent, open, and honest. Great video!

I really like that you said not to revenge trade or go back in to earn your money back but, instead go back in and focus on rebuilding your confidence and comfortability in trading. That's great advice because revenge trading makes you take on unnecessary risk to try to make your money back. It also makes it really hard to think clearly when you revenge trade.

Appreciate the transparency and candor - and the struggles shown in this video coming from an experienced trader and owner of TradeZella at that! This is proof positive that no one is impervious to the woes of trading psychology, discipline, planning your trade and trading your plan. Your honesty and insight to your corrective plan is truly helpful. Thanks for putting this out there for all to see

Definitley one of, if not the most, educational videos I’ve seen from your channel. Process, journaling and reviewing is the least “sexy” but probably most important part of trading that newer traders neglect. I’m guilty of that myself.

Great video! Thank you for sharing! These are mistakes that anyone could make at times and it really helps to analyze what went wrong. It's like you're sharing thoughts with us from your trading journal. Thank you again! This video was very helpful!

Thank you for sharing. I look forward to seeing you work out of this drawdown.

Amazing Umar, this has helped alot! thank you for sharing, been following for a while.

Great video Umar, thanks for sharing! You’ll get out of this slump soon I believe in you

Thank you Umar for showing transparency and the ups and downs in Trading... Few traders talk about this

The only thing green there is your transparency, and we love it !!!

Thanks for the transparency Umar, this was a great video and shows that it is just as important to have processes in place for trader rehab as it is to run and scale when confidence and trading accuracy is high.

Awesome video love the transparency 👏🏼

I really appreciate you Umar, thank you for everything you share. Helps me massively.

Thank you for being so transparent with your trading. Learning from mistakes is so critical. This was a very helpful video. Crush it going forward !!!

Great video - love the transparency. As someone around 12% down on my account it's comforting to know even experienced traders hit these levels of drawdown and make similar mistakes - particularly moving my mental stop losses!

Thank you for sharing your wins as well as your losses! I’m new to trading and your channel and your integrity is inspiring. Peace

Please can somebody please help me out here, losses keep piling up in my trading account😢😥

Thank you for great video and pointing out where the problems were. I know many bears got their axx kicked this year with same bearish bias whole month of January. It's understandable you had strong bearish bias bec you did so well last year shorting everything and so did many other traders. I try to take each day without any bias (which is very hard to do!) and only look at if it made higher low or lower high, etc and try to be more objective and not get in on the first confirmation but make sure my thesis played out correctly then enter on 2nd opportunity (dip buying if bullish or sell the rip if bearish) and that worked out much better. Also using multiple time frame has helped me so much rather than just 1 and 5min charts but using 15min and hourly charts throughout the day to avoid shorting around support level and avoiding buying near resistance level. This year should be a choppy year where it lures people in looking bullish, then quickly heading down and vice versa so it's a hard year to trade. You are an Amazing trader so chin up and I'm sure you'll continue to do an Excellent job!

I've hade pretty much these same problems for the last two weeks and in the moment couldn't understand what I was doing wrong. Thanks for this!

Great Video, this "losing" video is even more helpful than the winning ones, I found similar mistakes on myself as well, great leaning experiences, thank you very much

This is just a transient bad time. I am sure you will bounce back. Thank you for being so transparent and genuine.

Trying make it take it one day at a time!! From a draw down of over 100k to finding consistency and transforming my mental game! You gotta see some of my past mistakes and blowing up multiple accounts just insane.. never again! Thanks to this channel and other great mentors..

thank you so much for sharing!

Great video keep your head up thanks for showing the bad rainy days Great learning lesson 👍

This may two hands down be the best trading video I have seem in a while. I trade for a living in Hawaii and see too many youtubers that only post gains. Thanks a ton! You dont have to be correct on the trade but you do have to be correct on how you manage the trade.

Very nice video, thank you for sharing man!!

Ugh I was making the exact same mistakes last week. After watching this I have a fresh new outlook for this week. Size down, wait for confirmation, and take it slow. The gains WILL return.

Honest assessment You see where the issues are and how to correct them. Thats half the battle Bro!

Very helpful, thanks for this.

Many thanks Umar for a host sharing!!!

I appreciate this video a lot - very relatable

Made the same mistakes this Friday with Spy. Needed to hear your advice towards the end (don't go in this week trying to win back what I lost.). Thanks man! Hope this week is better for you.

Your lessons are so uniques and make so much sense. Thank you, you're changing my life. I'm start getting better at this. Struggle with add up on position going against me. Works well some time, but when it don't, it can hurt

Would like to see a video on time & sales. Keep up the great work on explaining your wins/ loses 💯

Love the honesty. Actually shows something traders go through.

we appreciate your honesty about the work you sharing with us, you will bounce back again keep going👍🏽

Thanks Umar it was helpful to watch an amazing transparency

Hey @umar Ashraf: Thank you for taking the time to explain the concept of losing trades. It was truly insightful. I would appreciate it if you could elaborate on the part where you mentioned adding positions without any confirmation. Identifying these confirmations seems to be particularly challenging for new traders, and I'm eager to gain a better understanding of this aspect.

Have Patience clear ya mind every day no bias

im going through the struggle...thanks for the tansparency. even great traders like yourself go through rough patches. i hope i make it out as well

That was great points, I had same positions and same bad trades

dont worry man. youre a great trader and an even better man for having posted this. youre going to be fine.

Thank you for being so transparent with your trading, well recently im quite ok with what im earning with sir Louise tactics

I had to watch this , blew 2 accounts in the last 14 days thank you 🙏🏻 going to reflect on my trades as well & come back stronger been fighting the market. Thinking we are still in a down trend.

Love love love these videos, down 10k last week on similar principles, mistakes. Trading my bias versus observing what price action is doing. Also, chasing and forcing entries without being patient and waiting for confirmation. Also trading on tilt, rushing to gain back quick, causes more downside.

love the honesty ...shows that even the best traders do loose (sometimes)

One thing im struggling with is position sizing after winning streaks. Usually what happens is I hit a winning streak of couple trades/days and then I start to use bigger positions instead of sticking to the plan. I continue to build a 3% increase from 100% of account instead of building a cushion and then picking up from where i left off on my plan. Goal is to keep my soldiers (money) alive as long as possible for the 240-250 trading days and not get a big cushion then lose it and then continue chasing with big positions

Informative video, thanks.

Love the leadership and teaching!

Great video! I can definitely relate. I started trading live seriously in October last year. Great results during that month. Then I got too cocky, and started thinking about scaling through frequency of trades, instead of size. I don't think that I need to tell you what started happening to my equity line. I didn't even do any analysis. I just entered the market.

Thank you sir……value a lot……❤

Thank you for this video. It's exactly what I needed to hear. Iam trading a 60k account and iam down 10%(after almost 3 weeks). Iam absolutely 100% positive because I made before on another account constantly 1% per day. I know I can do it. Here my mistakes: iam was to lazy to write my daily review, iam not checking on my mistakes, I was to focused that the market will crash so I looked only for shorts. I was to proud! Now from Monday back to basics , every trade will be Analysed, every mistake will be found and changed. Only trading what I see and not what I imagine or think. Adapting quicker to the market. Happy trading. Don't listen to your ego you can do everything what you want, you can reach every goal. But the time between now and reaching your goal, is called DISCIPLINE!!! Never loose your discipline be always positive believe in yourself.

This transparency is so valuable! I guess my question is as an experienced trader what led you to make these mistakes which seem like something that somone of your experience would have stopped making a long time ago.

Great video umar! for es futures idk if you haven't done so but I would recommend using bracket orders

Thx so much!

Hey Umar thanks for this video, I have question : Do you think taking a long break can impact your trading? as you came back after long break.

Great video Umar

So helpful. What i really would like as a new trader are examples of plays to look for. For instance, you have your morning top reversal. How do I find a list of common plays to start with since creating my own would take many years of experience? I can spot that morning reversal now that im aware of it.

Another thing to try to chart looking at many months like a full year as your data source, is what is the percentage that your first trade of the day was a "winner". Then what percentage of your second trades were "winners", and so on. Most people will notice a hard pattern that the percentage of "winners" of the later trades of the day gradually goes down. You'll have evidence of how many trades you in specific should be trading in one day.

Same to me Umar...my start of the year has been red...started green about 2 days then...a series of red!

Keep it up bus we’re all looking up to tou

OMG thank you so much for sharing this 🙏 I couldn't relate more to this video!!!! After having such a great week of profit, I lost it all in one day because of the exact same reasons💔Could you please do a video on price actions ?

Umar, could you do more trade recaps this year?😃

Finally, you realized that you need to recap and share your red trades too not only green trades. Transparency is key.

My biggest depression is i am not sure about sizing down, I size down and I always win big percentages but small amount and i size up to normal expected trading size and lose big. so gains always small and losses always large it becomes very depressing. it makes the P&L look like a never ending story to make up even over time and it makes me feel i am always on the opposite side of the momentum. Thank you for sharing.

great lessions

Great video Umar as usual...would like to know how you handle slippage with 100 contracts or even 10 or 20 contracts. I usually trade with 50 to 60 cents contracts with high volume like SPY, AAPL, TSLA etc. For example, I'm trading SPY with 10 contracts @ 50 cents and sometimes there is a delay with filling my order when I want to get out and I experience slippage so how do you do it with 100 or 300 contracts? Your response is most appreciated! Thanks

If you know how to trade and understand price action, you can very well take trades every day and be consistently profitable. The saying not to take trades every day is a myth and primarily applies to neophytes. Most retail traders in general will lose because they don’t understand the markets as a whole, and don’t understand the underlying direction of price.

Hey umar what confirmations do you normally look for? I only trade spy so my main confirmations are apple, uvxy going opposite of spy, 200MA and other big holdings in spy

Amazing video

This loss trades really helpful and also great learning here than winning trades

awesome video

this video is pure gold

Thank you

Brilliant mindset.

I'm from India. I was profitable since 3 months. Now this month has gone bad. Still I'm hopeful for the best. Your videos give me hope and motivation. You're a genuine trader who teaches from the heart. God bless you

Thank you Umar. I wanted to ask: how do you ensure you actually do your post analysis because I feel I psychologically avoid reviewing my past trades, both winners and losers because of the pain.

hey man great content do you have any course which we can buy?

Very insightful Umar ! Appreciate your transparency. I have been warning people not bring that 2022 bearish bias into 2023 market . That easy to short market won’t be the same. The selling pressure in the market is dwindling down. Any gap down or pullback will be met with constant buy up.

Loved this yo 👏🏿 Here documenting my trading journey on RU-vid as well 👊🏿 Respect from Jamaica 🇯🇲 🎈

Adversity makes a man stronger. Thanks Umar for the transparency

Can you do a video on taxes? Just like what you do during tax season in terms of filing paperwork, how do you prepare for it, any tips for it etc.

Heavy content❤

All you mentioned trading mistakes are all mine here as well. We seem forgetting our original points and the problems becoming like a wildfire as I ain't as discipline as you. Well, I adjust some positions, then see how it goes. Kinda hard to play as a warrior type of trading.

umar, what strategy are you using? support resistance? volume profile?

best video ever

What computer specifications do you use to support so many monitors and trading platforms?

Lots of love ❤ from Ranchi Jharkhand India . I am a huge fan of urs . This video really was amazing and lots of learning points . you just explained it so well and honestly that every trader even me who has 1.5years of trading journey , can relate . From this video I Got so clear answers to my trading problems Thanku 🥰

I always trade with a stop loss about 7 or 8 points away on /MES. Most of the time, my stop loss gets hit, and then the trade goes in my direction, sometimes for a huge gain, after I'm out of the game. But there have been a couple of times where I was lucky to have the stop loss in place. Do I put the stop loss further away?

You are not alone. The market is difficult for everyone now it seems..

When you say no confirmation, what type of confirmation were you looking for?

Very important video !

Umar couldn't find the reason on ur switch to futures? you seemed to be doing decent on equities contracts. is there a reason your going through the learning process again through futures? i am aware es is essentially spy but still. thanks

Thanks

Thank you for being transparent with us Umar, its only making your reputation better by showing us trading is all about constant learning no matter how experienced you become in the financial markets! You got this man... the past couple of years P&L prove that.

Same phase i am going throoo now buyest view and last 2 week are so bad only taking down side entry and same only trade in down side when market is going up but I am finding down trade now i also have to change my mind and be neutral and trade with plan.

We in the same boat, same though processes same mistake. :(

hello sir why don't you showing us the Higher timeframe confirmation so that clear understanding will be established ?