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Traders with 5-10 years of experience but still not profitable
Sorry, no clue. That's what it's supposed to do. It's possible that someone made a post quoting or mentioning you and then deleted it.
You can always go to your Profile (start with UserCP, then Your Profile and then Mentions or Quotes) and check your mentions and quotes. You will be able to see any mentions or quotes you have had there. This will let you see who and what it might have been -- again, if not deleted.
You can also always check your current notifications by clicking on the "Your Notifications" in the upper right corner of every page, if you have some. If you have anything indicated, click on them, and you will go to your Profile, and then you can check your Mentions and Quotes there.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I'm an INTP, but in VanTharp's blog where you're asked to determine how well you relate to each element of each dichotomy, I didn't feel the weak one was unfamiliar at all... just less familiar than the one I identified with most strongly. I love to problem solve. I typically see things from a dozen different perspectives which is often helpful... But sometimes, seeing so many sides makes it hard to make decisions. Not a great quality when seeing the reasons why the market will go up, and why it will go down. LOL I'm working on it
One thing that keeps coming back to me is this:
Psychology is mentioned again and again but the modern markets are very close to efficient and many/most traders simply do not have an edge.
If you trade without an edge, psychology can only help you in dealing with the inevitable losses ahead.
I have to still finish the article. Good thing we have the day off so we can play catch up. Dozen perspectives? This is why I prefer scalping. Use a trading chart with a longer term chart on the side. but most decisions are made off the trading/short term chart.
It's interesting that VWilson who trades the PATS system, goes for a couple of points with 32 ES contracts and has 8 runners. 2 or 3 trades a day.
No narrative, just his trading. Or maybe it's her trading.
I usually watch these in the early morning hours while waiting for the birds to start singing.
i compare trading to nascar racing . You can do perfect driving on practice laps by your self or simulator . Come sunday and the race is on . Your competing with the best and your adreniline is through the roof with car all around you at 200mph . Can you keep a clear head in the race and not have your subconcious on auto pilot making stupid actions and not keeping to your race plan . that to me is where psychology comes in .
Profitable trading comes from consistency in process & routine. For a trader to become consistently profitable he needs to master his inner self first.
What gets a trader to become consistent and perform better has to do is more about trading & life balance, which all starts with self awareness and behavioural pattern recognition.
What most traders lack is self awareness, and not being able to ,recognize & recondition the self sabotaging behavioural patterns that keeps them stuck and causes them to give back profits.
Every trading can make money, the hard part is keeping it.
Most traders focus too much on the outcome and get attached to the results & Pnl rather than sticking to their process and keep it simple. (again easily said than done)
The reason most people don't become consistent, because first they are blinded & unaware of the problem and second they don't put enough effort to rewire and change their emotional and behavioural conditioned patterns that keeps them stuck in their old behaviour.
Working on self awareness, to eliminate weaknesses & patterns that don't serve a trader well, capitalizing on strengths is where all the work lies.
Trading performance & consistency is not only about having a technical edge and following your technical setups & signals , it's more about consistency in execution, attitude, emotional, mental, behavioural & as well as constancy in various aspects of life in general.
For an example, one cannot have consistent results when they are inconsistent in your sleep, preparation, exercise, physical, mental & emotional routine. just to name a few.
One has to work on his over all behaviours in trading and outside of trading to bring the right consistent mindset and behaviours and change the old survival patterns that don't help in trading as a human being.
So most of the work is within, its about looking inside and trying to find one's unmet needs, such as the need to prove, Fear of being wrong, The need to control outcome, perfectionism Not good enough patterns ...etc just to name a few cooking patterns.
These are just a few points worth for every inconsistent trader to think about and re-evaluate their trading approach and behaviours.
small changes can make huge difference.
Being able to have emotional self awareness to track your behaviours, blindspots and emotional patterns, is the first step required to start changing from within, which is different from one individual to the other. it's a self journey that few traders are willing to take to discover their inner demons, and what is causing them to repeat that patterns over and over.
Hope this sheds some light and helps traders to start looking internally rather than externally.
Hope that helps
Have a great weekend all & Happy Easter !!
All the best
Gus Joury
P.S. I am currently working on a powerful NT8 integrated solution to help traders structure their process and help them track their behavioural patterns to eliminate their weaknesses, recognize & overcome their self sabotaging patterns.
I will be looking for beta testers soon.If any of you guys are interested, please feel free to DM me or email me at [email protected] to add you to the beta users list.
Video didn't come through, but I'm with you on the scalping. I'm going to refocus on that hard. I just got my trial of Jigsaw set up yesterday after the market closed. I'm hoping to paper trade until I'm comfortable with reading the ladder and hope to dip a toe in live account, before the end of the week. Just working with the Sierra Chart ladder for a couple days and focusing on scalping, allowed me to tighten my stop loss from 10 pt to 2 pt in the MES. Surprising thing was how often the occasional 8 or 10 point profit occurred. I'm excited about next week!
I feel you, completely. This industry is full of such amazing people, and so many out to take all your money and give nothing in return. I've experienced both sides. I've been a part of some fantastic groups, learning and growing...but somehow missed the one fact that I needed to find the type of instrument that fit ME. Not the "hot" market that everyone flocks too. Nothing wrong with those, it's great, it's liquidity. But I lost so much money trying to trade markets that my eyes and sensibilities couldn't trade. It wasn't until I found the treasury futures and started my little Discord group, did it all begin to land for me. Now I don't dread taking the trades, I'm not in an anxious state all the time. Not because of WHAT I'm trading, but the fact that it's MY market for ME.
I've played tennis, golf, snow skied, and musical instruments....and I'm only as good as the equipment that I connect with. If I don't connect with the tools, then I'm not at my full potential. So I've worked hard to find the right tools (software, data, indicators, strategies, instruments, etc...) to get me to a place where I can consistently be profitable and content with calling myself a success trader.
I feel your frustration. I feel your confusion. I feel your passion to know. I feel your desire not to waste time and get on with this, or get busy doing something else!
I'm sure that if you use the info provided, you will find the channel on youtube. The video link that I sent you was from one of Mack's students. Here is a link to Mack's Price Action Trading System:
Also, you might check out Lindsay Duff at "Responsible Daytrading".