What he says is correct if he means that it's probably not necessary to stare at a screen all day, and it's not particularly sustainable if you try to run a business/career doing it. However, I understand that this is something many people associate ...

Trading for a living

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Trading for a living

I just read about the outage at one of the CME data centers in Chicago. Allegedly due to a cooling problem. Isn't it winter in Chicago? And don't they have multiple redundancies and failovers for such critical infrastructure? Unbelievable. That ...

Trading for a living

Yes, that's correct. The accounts I linked here are simulated. They all trade the same system, which I've been testing since the beginning of August, and primarily serve as a tool for performance tracking and to see if it's something I might also ...

Trading for a living

It's hard to name a top 10, but I would say the following are some of my all-time favorite books. Market Wizards: Interviews with Top Traders - Jack D. Schwager Trading in the Zone - Mark Douglas Trade Your Way to Financial Freedom - Van K. Tharp ...

Trading for a living

I am not ignoring what others share here, but I don't see how individual charts or general knowledge about trading are supposed to help me solve a problem that could not be more clearly defined than if I said, that I need to make at least a ...

Trading for a living

I'm not saying that people aren't trying to help, but rather that I don't need „lectures“ from people who tell me what I'm incapable of, that I lack knowledge, without ever having provided any evidence themselves. Yes, you posted a chart and ...

Trading for a living

None of the people who have responded here have demonstrated anything about their knowledge or ability to make a living from trading let alone being profitable for a long time. Just a few handpicked charts, a lot of stupid comments of people with ...

Trading for a living

What you're saying is true, but that's not what I mean when I talk about subjectivity. With Subjectivity in trading I mean that trading decisions are based on a trader's personal perception, intuition, and emotions, rather than on strict, ...

Trading for a living

I don't want to fit the market into anything, but simply have a system/plan that delivers sufficiently profitable results for me at the required time intervalls, regardless of what the market does or doesn't do. We've already said that ultimately, ...

Trading for a living

Yes, that's right. But that's precisely what I haven't been able to do so far, and that's where I need help: to develop a clear plan that I can implement and that leads to the desired results. I'll be attempting another prop trading challenge with ...

Trading for a living

I don't feel that more knowledge helps me to focus on something. It has the exact opposite effect on me. Technical or fundamental analysis that is not quantifiable and therefore not repeatable is inherently subjective and remains subjective for me. ...

Trading for a living

Strategies based on identifying impulse and correction waves, particularly within the framework of Elliott Wave theory, are widely considered subjective. Why the Strategy is Subjective Interpretation Differences: Different analysts can look at the ...

Trading for a living

First of all, thank you so much for your support and for trying to help me. I'll try to clarify again what I can and cannot do when it comes to trading and what principles should be in place for a 100% objective trading plan that I can follow and ...

Trading for a living

A single chart example, without seeing the exact entry and exit criteria, will hardly help me identify a repeatable approach that I could test/execute. If such setup occurs every day, perhaps one of the bright minds here could post charts for every ...

Trading for a living

Yes, that's right. It's not a fair comparison. I just wanted to make it clear that a 2% return per week is already quite a lot.

Trading for a living

Yes. Less risk and higher return is always better, of course. The question is how this can work in practice over the long term. I am currently at a maximum drawdown of 5.3% with a 0.25% risk per trade. Most prop firms have a maximum drawdown limit ...

Trading for a living

From ChatGPT If your monthly expenses are €5,000 and your historical expectancy is 0.26R per trade, I can calculate very precisely how much capital you realistically need to live from trading without being destroyed by drawdowns. This is a ...

Trading for a living

"While it is technically possible to make an entire year's income in one single, high-stakes trade, this approach involves extreme risk and is highly likely to result in catastrophic losses, including potentially losing all capital. There is no ...

Trading for a living

Thanks. Yes, that sounds good at first, but my problem is that such general terms don't really help me create a concrete trading plan that takes my personal circumstances and goals into account. The complete context is missing. I could just as ...

Trading for a living