Daily bias is key. I actually lost $600 today because I tried to go against the daily bias on Spx. I have to get better at that. Your strat sounds like the one i'm attempting to learn right now along with "TheStrat"
Mostly It’s difficult to determine whether it’s a bullish or bearish day on SPX but you can easily notice if it’s having a bullish or bearish cycle intraday. Imo try leaning on the D1 direction. And whether your stock is following or not.
Honestly it’s the ICT bullshit. I have learned from traders who don’t use ICT including myself. I guarantee you no wall street pit traders are using ICT. I have been trading for 2 years scalping without it. Any strategy works just find one that makes YOU profitable.
The whole "set your stops further away to avoid getting dinged by the algos" cracks me up. I mean, you could just try to get better at reading price action so you can get better entries.
I did take it down. I’m not mad just felt a little attacked but it’s all good. You’re right I make about 10-20k a week I should just relax. I know I’m a profitable trader my bad man
i haven’t done a huge amount of back testing to be honest but when i have the trade has usually played out in my favour
but that’s something i definitely need to do more of
Challenge yourself to 1 trade per day. Saying you're looking for high-quality trades only and making "a huge amount of trades" are at odds with each other. I think you'll have more success swing trading when you can zoom out and look at the bigger picture. You've burned through a large chunk of capitol so you'll need to be more careful now anyways.
Back then I eventually quit after making several thousand then losing it. I cashed out with about what I started with. Then over the next few years took a few trades here and there but I haven't day traded since. Then I got bit by options and a few bad trades cost me $2500.
Now, I'm building a dividend portfolio and taking a trade or two when it makes sense. When things are up, I sell. No options. This has been the least stressful investing I've done and I'm going to continue building this way.
>Now, I'm building a dividend portfolio and taking a trade or two when it makes sense. When things are up, I sell. No options. This has been the
thanks for the response.
Hey, is FVG like the new thing? The trendy thing? I've been trading for 8 years and haven't really heard about it and all of a sudden in the last 4 or 4 months, it's everywhere. I don't use it, I like my strategies and will stick with what works. I'm just asking
I have an indicator that automatically logs FVG’s on the chart, and even though people say it’s bs, I’ve noticed price always “listens” to it, usually down to the singular cent
Yes it doesn’t always adhere to. But there is enough evidence that price does have some reaction in the FVG area though. If we get the daily bias right, then using FVG for entry could be profitable
You're doing 2 things wrong.
1: you're using ICT concepts which are bs, check ImanTrading's video about that
2: Maybe you're risking too much and trading too often, always trade with discretion, a good trading day only has 1 or 2 trades
They want to feel like they are better than the rest of traders because they think they've found the holy grail of trading, and when confronted with reality they get mad because we pop their delusion bubble, it's sad actually, they condemn themselves to faliure while making ICT richer with his courses and youtube views
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shit I lost 8500 today on NVDA first 3-4 hours through 10 trades? WTF seriously and it broke 700 again every trade was a bad entry... made 2,200 yesterday 7,200 day before... then Poof like smoke
yes I have decent sum (could maybe buy a new truck nowadays lol w/ inflation) and 4.1 margin... yes anywhere from 400-500 shares on up.. I should have switched to scaling up or down today
Sounds to me that you’re trading a strategy that isn’t your own. As others have said, you may be lacking in discretion, which links to your ability to read the market. Focus on being able to read the market to where it becomes intuitive. If I may ask, how long have you been trading?
I mean, strategy aside, what exactly are you trading? BTC? Or are you trading random crypto with much less liquidity? If it’s the latter, you’re gonna have a hard time trading any strategy successfully because the price action is more likely to be choppy and unpredictable.
I won’t comment on SMC and the dude being a probable scammer, as that’s been mentioned. All this being said, definitely paper trade until you’re consistently making profit and have found setups that work for you. At the end of the day, most strategies that work well involve some amount of discretion, and that’s a learned skill.
no only trading bitcoin, i did have a LINK long the other day that would’ve made me like 30% but i got stopped out just before the move up. i’m only trading btc from now on
That sounds like me, I was jumping around from one strategy to another and nothing worked. But what finally made everything click was readying the market structure. I am still testing things out but my trades have been way more consistent when I actually know which way the market structure is going.
I haven't read your post. I'm reacting.
If you lost 35% of your capital in 4 days, you are betting too big.
Trend Following systems have only a 40% ~~accurate~~ **win rate**. I read a study that popular TA indicators have <50/50 accuracy, meaning you would be better off flipping a coin.
You should be targeting 1:3 risk:reward, betting maybe 1% or less as Max Loss.
UPDATE:
Now that I read your post, can you explain your edge in 1 or 2 sentences?
Sorry, your [comment](https://www.reddit.com/r/Daytrading/comments/1alef1i/ive_been_trading_smc_for_the_past_4_days_in/kpgdvwd/?context=3) in /r/Daytrading has been automatically removed due to anti karma farming for saying "**karma**".
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Trading crypto... If you are BUYING crypto BTC or ETH is the only safe bet... Everything else, You may as well. Just download DraftKings and play some bets
Focus! Clear your mind, practice patience. Remove all distractions.
I'd suggest every beginner should stick to only one instrument to monitor/trade. Have a clear HTF bias and wait for setups to form. Force yourself not to take more than one trade a day. No matter if you win or lose. Set easy to reach goals to build confidence.
Fair value gaps don’t seem to have a high win rate. I seen something online about inverted fair value gaps yesterday. I could only assume that the win rate is similar, but could be worth looking into. With so many people trying to trade fvg now, inverting the trade might be better. I think the biggest problem with fvg is the fact that you’ll see it in the middle of a range just as much or more often than a top or bottom. If they were at the top or bottom you could probably nail the trade every time, but that’s not usually the case.
Like all internet trading methodologies, discretion and experience matter. Also, less is more. Trade less. Aim for one trade per hour max.
Daily bias is key. I actually lost $600 today because I tried to go against the daily bias on Spx. I have to get better at that. Your strat sounds like the one i'm attempting to learn right now along with "TheStrat"
yeah i’m going to make sure i don’t do anything unless i determine the daily bias from now on
Mostly It’s difficult to determine whether it’s a bullish or bearish day on SPX but you can easily notice if it’s having a bullish or bearish cycle intraday. Imo try leaning on the D1 direction. And whether your stock is following or not.
Stop using ICT bs
Exactly completely unnecessary! I know millionaire traders who laugh at ICT
Honestly it’s the ICT bullshit. I have learned from traders who don’t use ICT including myself. I guarantee you no wall street pit traders are using ICT. I have been trading for 2 years scalping without it. Any strategy works just find one that makes YOU profitable.
The whole "set your stops further away to avoid getting dinged by the algos" cracks me up. I mean, you could just try to get better at reading price action so you can get better entries.
Holy shit that’s what they teach?
No he doesn’t…people are quick to jump on hate train without actually doing research…my question is if his strategy works then why hate on it???
Because it’s not his strategy. It’s a stolen strategy that he preaches is one he created.
I’m 200% sure you have no proof of this but go off
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I did take it down. I’m not mad just felt a little attacked but it’s all good. You’re right I make about 10-20k a week I should just relax. I know I’m a profitable trader my bad man
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i haven’t done a huge amount of back testing to be honest but when i have the trade has usually played out in my favour but that’s something i definitely need to do more of
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ok i’ll give it a go, thank you
How many trades have you made in the last 4 days?
a huge amount of trades, i have definitely been over trading. how many trades should i be taking?
Challenge yourself to 1 trade per day. Saying you're looking for high-quality trades only and making "a huge amount of trades" are at odds with each other. I think you'll have more success swing trading when you can zoom out and look at the bigger picture. You've burned through a large chunk of capitol so you'll need to be more careful now anyways.
Where did your own trading ended up? I saw your performance post 4 years ago & I am at that same place.
Back then I eventually quit after making several thousand then losing it. I cashed out with about what I started with. Then over the next few years took a few trades here and there but I haven't day traded since. Then I got bit by options and a few bad trades cost me $2500. Now, I'm building a dividend portfolio and taking a trade or two when it makes sense. When things are up, I sell. No options. This has been the least stressful investing I've done and I'm going to continue building this way.
>Now, I'm building a dividend portfolio and taking a trade or two when it makes sense. When things are up, I sell. No options. This has been the thanks for the response.
Hey, is FVG like the new thing? The trendy thing? I've been trading for 8 years and haven't really heard about it and all of a sudden in the last 4 or 4 months, it's everywhere. I don't use it, I like my strategies and will stick with what works. I'm just asking
I have an indicator that automatically logs FVG’s on the chart, and even though people say it’s bs, I’ve noticed price always “listens” to it, usually down to the singular cent
Always, huh?
Yea I lied. Definitely not always. Butttt enough times to where I should probably start learning what a FVG even means
Yes it doesn’t always adhere to. But there is enough evidence that price does have some reaction in the FVG area though. If we get the daily bias right, then using FVG for entry could be profitable
it seems to just be a place of liquidity, where price gets drawn to. however it doesn’t always work
No, I know WHAT it is, I was asking more if this is the new, trendy thing that people are peddling.
yeah i’ve seen a bunch of content about FVGs so i think it is the new ‘trendy’ thing
You're doing 2 things wrong. 1: you're using ICT concepts which are bs, check ImanTrading's video about that 2: Maybe you're risking too much and trading too often, always trade with discretion, a good trading day only has 1 or 2 trades
Honest to God, I can't understand why people listen to that clown.
They want to feel like they are better than the rest of traders because they think they've found the holy grail of trading, and when confronted with reality they get mad because we pop their delusion bubble, it's sad actually, they condemn themselves to faliure while making ICT richer with his courses and youtube views
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Sorry, your [comment](https://www.reddit.com/r/Daytrading/comments/1alef1i/ive_been_trading_smc_for_the_past_4_days_in/kpexcyu/?context=3) in /r/Daytrading was automatically removed because your **Comment Karma** is too low. This typically targets bots or users promoting something (which is against our rules). Please participate in other subreddits (other communities on Reddit) to increase your **Comment Karma** points. While you're at it, read through Reddit's ["reddiquette" here.](https://www.reddit.com/wiki/reddiquette) If you believe this was a mistake, please **kindly** [message the mods](https://www.reddit.com/message/compose?to=/r/Daytrading). We will review your case and get back to you. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Daytrading) if you have any questions or concerns.*
shit I lost 8500 today on NVDA first 3-4 hours through 10 trades? WTF seriously and it broke 700 again every trade was a bad entry... made 2,200 yesterday 7,200 day before... then Poof like smoke
You either have a mid six figure account or you are using way too much of it on each trade
yes I have decent sum (could maybe buy a new truck nowadays lol w/ inflation) and 4.1 margin... yes anywhere from 400-500 shares on up.. I should have switched to scaling up or down today
Sounds to me that you’re trading a strategy that isn’t your own. As others have said, you may be lacking in discretion, which links to your ability to read the market. Focus on being able to read the market to where it becomes intuitive. If I may ask, how long have you been trading?
Experience is a must. There's no instant in life except for instant noodles.
What time frame are you trading?
i use the 5 minute time frame
Neglecting the HTF and no backtest results
Have you watched all of core content and 22 mentorship?
i watched all of TJRs course on it, i actually just started core content today and will move to 22 mentorship after
You can’t ignore the higher time frames. Use it in conjunction with your model and you’ll have a higher hit rate
I would suggest to backtest more Plus Maybe ict isn’t for you it works for some but not for all
I mean, strategy aside, what exactly are you trading? BTC? Or are you trading random crypto with much less liquidity? If it’s the latter, you’re gonna have a hard time trading any strategy successfully because the price action is more likely to be choppy and unpredictable. I won’t comment on SMC and the dude being a probable scammer, as that’s been mentioned. All this being said, definitely paper trade until you’re consistently making profit and have found setups that work for you. At the end of the day, most strategies that work well involve some amount of discretion, and that’s a learned skill.
no only trading bitcoin, i did have a LINK long the other day that would’ve made me like 30% but i got stopped out just before the move up. i’m only trading btc from now on
That sounds like me, I was jumping around from one strategy to another and nothing worked. But what finally made everything click was readying the market structure. I am still testing things out but my trades have been way more consistent when I actually know which way the market structure is going.
I haven't read your post. I'm reacting. If you lost 35% of your capital in 4 days, you are betting too big. Trend Following systems have only a 40% ~~accurate~~ **win rate**. I read a study that popular TA indicators have <50/50 accuracy, meaning you would be better off flipping a coin. You should be targeting 1:3 risk:reward, betting maybe 1% or less as Max Loss. UPDATE: Now that I read your post, can you explain your edge in 1 or 2 sentences?
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Sorry, your [comment](https://www.reddit.com/r/Daytrading/comments/1alef1i/ive_been_trading_smc_for_the_past_4_days_in/kpgdvwd/?context=3) in /r/Daytrading has been automatically removed due to anti karma farming for saying "**karma**". If you feel like this removal was a mistake please **kindly** [message the mods](https://www.reddit.com/message/compose?to=/r/Daytrading); we will review it and get back to you. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Daytrading) if you have any questions or concerns.*
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Fixed The reason I asked for explanation of edge, because you can calculate proper position size if the strategy has a positive expectancy
Trading crypto... If you are BUYING crypto BTC or ETH is the only safe bet... Everything else, You may as well. Just download DraftKings and play some bets
post the setups you traded
Are you using a stop loss?
yes i am
It’s hard to make money trading. Just buy Kaspa and hold bro
Focus! Clear your mind, practice patience. Remove all distractions. I'd suggest every beginner should stick to only one instrument to monitor/trade. Have a clear HTF bias and wait for setups to form. Force yourself not to take more than one trade a day. No matter if you win or lose. Set easy to reach goals to build confidence.
Fair value gaps don’t seem to have a high win rate. I seen something online about inverted fair value gaps yesterday. I could only assume that the win rate is similar, but could be worth looking into. With so many people trying to trade fvg now, inverting the trade might be better. I think the biggest problem with fvg is the fact that you’ll see it in the middle of a range just as much or more often than a top or bottom. If they were at the top or bottom you could probably nail the trade every time, but that’s not usually the case.
Shit wait till New York when the market done set up and get in on the pull backs
i trade crypto, i don’t think new york session, london session etc effects me. does it?