Hey right now im in the phase that he mentioned, im in my first year, can you give me tips? And my impulse is too high while trading any tips (i risk low but still)?
@mr.variety Journaling. Journal everything during your trading day. What the market context was, what set ups you took. Most importantly, your emotions during the trading hours.
Hey right now im in the phase that he mentioned, im in my first year, can you give me tips? And my impulse is too high while trading any tips (i risk low but still)?
@@mr.varietybest advice I can think of is to listen to some trading psychology, especially during trading. U might know and understand it but as soon as ur at the chart, you don’t even consider it anymore. Same with me. So I think it might help to listen some psychology while trading. Listen to the bad side of stranding, making u understand while u trade.
Normal, your brain will slowly start to recognize the patterns and price flow that is familiar to you..but it could take 4 months, could take 4 years. Keep the risk light b/c there will be mistakes made as market direction shifts and changes. You want to try to avoid having the mistakes be so heavy and costly. Hope you’re analysis is getting more tuned. I guess it spends on what you are trading..but when looking at SPY, I trade the Index Dow Jones..correlates with SPY. Sometimes the NY open price moves really fast..sometimes it takes 30min maybe 2 hours for the market to find clear support after all the early liquidity..at least giving you confidence/better clarity in placing good stops and letting the rest ride. What’s been helping me a lot recently is..literally..give the market time to wobble around, finding its “balanced” state. And if you are still having a hard time reading the chart flow..just keep reviewing the chart and pay close attention to how it eventually bounces of an area from NY open time, that’s if you are trading US Equites/SPY/Indices (from my experience). Just sit on your hands and observe how it likes to dance around at the open..things will begin connecting. I intentionally put all my focus and energy into understanding the US30 Index, Dow Jones..which is basically correlates with SPY. So watching Umar’s trades, I can now understand what he’s talking about..but it’s taken just over 4 years for me. Prop firms are nice too, if you have a decent trade system that works for you. Just keep the risk low..so you don’t have to ever worry about hitting your daily max loss on prop firms. I began with FTMO, but there’s many great firms out there. For example, if you’re max daily loss is $10K on a prop account. Risk like $500-1000. No need to rush..keep it light so your emotions are well balanced. It’s your personal journey. Learn from others, take bits and pieces and do what gravitates to you more. 🙏💯 Just a tip..I experienced the same thing..watching the price action for hours on each session..even during Asian/London session when there’s almost no volume..but it helped me learn sooooo much. Nice thing about Index trading is that you can easily enter a position pre market or after hours..helps me “be in line early” before the major moves begin to happen. Sometimes the pre market / after hours moves happen aggressively too before NY open. Quick example..during this most recent CPI data report..I was going long before the open, but I was rationalizing my decision based on technical price action. Market pumped right at 5:30am aggressively and then continued to go a higher during NY open. So it felt nice being able to be in early without the stress for making a decision during the open.
You don’t need to blow money to get the experience and knowledge. Backtesting and forward testing on demo is more than enough to experience the markets and gain confidence in your system
@@suggondees4882If you really have that control over yourself and you implement that then you are special. Bcuz inspite of all the caution and advices, My hard head wouldn't just follow thru with it. So much that in a paper I would write down 'things never to do' and how badly it has affected me, And I had it pasted in a wall, Yet once Trading started I lose control over myself. Now after losing total capital of 3k$, Now I really understand the gravity of my mistakes and strictly am following a system.
Cant be better said than this. Long term - Quality over quantity. For me it was 4 years of chasing money (2018-2022) and not focusing on self mastery. Now its all about self preparedness before getting into the market then observe the market and play. Money becomes by-product.
I felt this. Now I only trade if it hits a support or resistance level 3 times and is over bought or oversold on the rsi but before that I’d jus wake up n see oh we bearish for the day lemme get a short position 😂
completely disconnect from the outcome or the money, cultivate the habit of consistently showing up and doing what you're supposed to do every single day not what you want or feel. put all your effort on the process over outcome and in a years time you'll be on another level mentally.
His contents are so so good. Keep the strategy consistent, second he said "keep the risk consistent" which is so so important without which you cannot become profitable even if your trading accuracy is at 70%. I can explain more but that'll make this the longest comment in this comment box.
Hey right now im in the phase that he mentioned, im in my first year, can you give me tips? And my impulse is too high while trading any tips (i risk low but still)?
So true. Everybody thinks that if they 5 years or 10 years, it’s supposed to mean something, but I’m reality, it all depends on what you do with that time.
Facts! I spent the last 4yrs on and off. Jumping from “mentor” to mentor, course to course and strategy to strategy just to find myself in a worse place and wasting 4yrs on this journey. 🤦🏻♂️
I am very grateful i know these things its been 3 months *I started trading" actively i mantain my journal, plan trades, learning to manage my risk cuz its like in the video, trying to improve every day. , Also sticking to one strategy
Market takes time so we need more time to understand if you are willing to be trader I think we need a time and we will get better result just don’t give up
Honestly I feel like you do a great job telling people how trading is for real 🙏 if you are a new trader it’s a long journey and this man is telling the truth 👍 this man can give you the short cut if you have right mind set 🧘♂️
Hey right now im in the phase that he mentioned, im in my first year, can you give me tips? And my impulse is too high while trading any tips (i risk low but still)?
@@mr.variety well some basic tips that I use that works for me is only trade one ticker each ticker seems to have its own characteristics like I trade usd/jpy on forex only (if your stocks I would do spy) never zoom in too much I use weekly, daily, 4 hour for direction and reversal trades and use the minute for entry. but what really helped me is decreasing your position sizing to a point where you could almost care less if it wins or looses that puts your mind solely on the price action. you'd be surprised how much a couple 100pips moves will add up. but really it's just experience you need to find your balance and figure out what type of trader you are. sorry tried to keep it short hope that helps :)
The biggest trick I have learned is t only trade I. The direction I f the higher TF’s like weekly and monthly. Another lesson I have learned is s to enter on the deep dip and avoid breakouts at all cost.
Even though what he's saying CAN happen. Maybe it's a good thing as you are finding yourself, costly to donyes BUT you eventually find your ground then build from there. I'm sure we’ve all been down that path before 😎👍
So how did u get intentional can you please make a video addressing specifically this problem. And solutions you took … time it took you and your journey after this. I myself struggle with this alot. It would be of great help and great content as well … love what u do broda
Man i am in my first 2 years and i also do all this stuff. I said to myself that i go away from Scalping and Switch to H1-H4( i trade smc) . But if i have my level of interest found in the higher time frame, i go back to 5min and try to catch a trade too my interest level. Dont know how to stop this
Hey right now im in the phase that he mentioned, im in my first year, can you give me tips? And my impulse is too high while trading any tips (i risk low but still)?
This reality I have leaving Actually I feel the same I am 1.5 year In market but still I will not Focus I don't know why but I can Learn a lot right now I will definitely do it..✨
Nowadays . its not scarcity of information. 😂 but its overloaded. Many which u dont even need 😊. 1 STATMENT. ONE STATEMENT FROM A WISE MAN. IS ENOUGH. ITS ALL BOU TIMING. HE SAID TO ME . 😊 IF U FEEL MARKET WILL GO DOWN. IT CAN GO UP TOO. DONT 😂😊 . JUST PRACTICE UR WAY
I'm having the same experience right now as a newbie to trading. I don't have any strategies and no intentions of trading. Although I chart my trades, I'm just unplanned, and there's no strategy that I can stick to for the rest of my trading career. I'm only a college student and use my extra allowance to fund my trading account. Any advice you can give?? How can I find strategies that best suit me?
I think you should not be regretful about those years because those years made you a better trader. It was all part of the learning process.. I would say those years were part of the growing process. i would only be regretful if i knew i can improve at something and not take action.
After 1 year of trading and blowing my account few times I learned to respect the market. Now I'm not profitable yet, but at least I'm not blowing my acc anymore 🤞
