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  • #42,481
  • Sep 25, 2024 6:46am Sep 25, 2024 6:46am
Quoting MoHoSK
{quote} Apparently you can do that in Tradovate settings.
Yes, you can indeed. It was a recent addition, at the last platform update.
  • #42,482
  • Sep 25, 2024 7:26am Sep 25, 2024 7:26am
Quoting Quickly
{quote} Yes, you can indeed. It was a recent addition, at the last platform update.
This should stop me killing my account in 1 day
  • #42,483
  • Sep 25, 2024 7:52am Sep 25, 2024 7:52am
Quoting MoHoSK
{quote} This should stop me killing my account in 1 day
Yes, discipline is probably the #1 skill a successful trader requires. Far above anything else.
  • #42,484
  • Sep 25, 2024 7:57am Sep 25, 2024 7:57am
Quoting pipmaster77
{quote} Yes, discipline is probably the #1 skill a successful trader requires. Far above anything else.
Yep, already lost 3 trades on Gold. Its really choppy today
  • #42,485
  • Sep 25, 2024 7:59am Sep 25, 2024 7:59am
Quoting MoHoSK
Morning guys. Is there a platform that wont let you open another trade after you reach your daily goal or loss?
Please read this book. It will help you a lot.
Attached File(s)
File Type: pdf Book on Market Discipline.pdf   1.4 MB | 24,988 downloads
Drawdown is more important than Account Size !
  • #42,486
  • Sep 25, 2024 8:12am Sep 25, 2024 8:12am
Quoting procrude
{quote} Please read this book. It will help you a lot. {image}
I dont think anything can change my bad habits. When market going up , i sell and when market going down i buy.
  • #42,487
  • Sep 25, 2024 8:17am Sep 25, 2024 8:17am
Quoting MoHoSK
{quote} I dont think anything can change my bad habits. When market going up , i sell and when market going down i buy.
You belong to the 95% traders who think alike. But, you can always change your bad habits. Market discipline is very important If you want to be a successful trader. If you can control your Fear and Greed, learn how NOT to force a trade and create a good Strategy you will start seeing some Gains. Good luck.
Drawdown is more important than Account Size !
  • #42,488
  • Sep 25, 2024 8:20am Sep 25, 2024 8:20am
BTW, What the F* is going on with Gold... rate cuts will get Gold in the $3000 area. Exactly what Bank of America predicted.
Drawdown is more important than Account Size !
  • #42,489
  • Sep 25, 2024 8:45am Sep 25, 2024 8:45am
Quoting procrude
{quote} You belong to the 95% traders who think alike. But, you can always change your bad habits. Market discipline is very important If you want to be a successful trader. If you can control your Fear and Greed, learn how NOT to force a trade and create a good Strategy you will start seeing some Gains. Good luck.
Its not that easy. 10 years of bad habits. I can control myself for a couple of days and follow my system and make money then next day i will kill my account on a single trade. Open another account and do exactly the same .
  • #42,490
  • Sep 25, 2024 10:20am Sep 25, 2024 10:20am
Quoting MoHoSK
{quote} I dont think anything can change my bad habits. When market going up , i sell and when market going down i buy.
then you only need to learn to find sideward market and you are fine. work with your habits and dont change it. just recognize it and trade matching to this (so trading to your own character type). solutions in trading are often simple.
  • #42,491
  • Sep 25, 2024 10:33am Sep 25, 2024 10:33am
Quoting Capablanca
{quote} Not really if we make a more extreme example (which may be the case for swing traders). Picking you example: If balance is 102,000 at start of day, your balance/equity cannot go below 97,000. = 5k static If balance is 102,000 at start of day and equity is at 106,000 (4K unrealized profits), your balance/equity cannot go below 100,700.
Unless its a balance based drawdown account, then it can go down to just above 97k before busting the daily dd limits.
  • #42,492
  • Sep 25, 2024 10:56am Sep 25, 2024 10:56am
Quoting MoHoSK
{quote} I dont think anything can change my bad habits. When market going up , i sell and when market going down i buy.
I was like you before.... Just a suggestion dont look for home run trades everytime.... ONce ina while when you have golden setup do it ... otherwise day trading base hits the way to go.... IF market selling (then on any retrace sell) n vice versa i.e go with the momentum pick your breadcrumb.... The moment i started doing it improved my profitability.....
Extreme gut feeling trader
  • #42,493
  • Sep 25, 2024 11:34am Sep 25, 2024 11:34am
Quoting pipmaster77
{quote} Yes, discipline is probably the #1 skill a successful trader requires. Far above anything else.
While discipline is important, long-term profitable trading requires more than that as it is a performance-based endeavor where you are not paid for your hours but for results. The highest level of discipline won't do you much good in trading if there isn't a working plan behind it. On the other hand, the most profitable trading plan is of no use to you if you lack the discipline to execute it correctly.
  • #42,494
  • Sep 25, 2024 12:11pm Sep 25, 2024 12:11pm
Quoting montygoldy
{quote} I was like you before.... Just a suggestion dont look for home run trades everytime.... ONce ina while when you have golden setup do it ... otherwise day trading base hits the way to go.... IF market selling (then on any retrace sell) n vice versa i.e go with the momentum pick your breadcrumb.... The moment i started doing it improved my profitability.....
Its like my mind is playing tricks with me. I know how to trade but i always do the opposite whats right. Im not sure how to change that.
  • #42,495
  • Sep 25, 2024 1:55pm Sep 25, 2024 1:55pm
Do not forget to like this post if it is interesting for you. Cheers.
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  • #42,496
  • Sep 25, 2024 2:00pm Sep 25, 2024 2:00pm
I know you guys are going to give me a bunch of crap and that it's probably a waste of money but I am going to try a challenge from the 1 month old
Fortunatraders FX Prop that was starter by Andy the supposed most banned prop trader guy. Already some crappy reviews on trustpilot with no payouts.
I am not endorsing this whatsoever but will report back after my money is wasted. Trying 10K for $43. Worse news rules in the industry at a 16 minute blackout period for funded accounts! I am prepared for all of you to swat my hands with a stick. As a US trader this seems like one of the only Forex Prop Firms available that isn't confirmed scam. Rules seem clear if you read the entire website. EOD drawdown. Plus this guy is 25 years old not 12.
I am going to copy trade my personal FX account since they use Ctrader and I don't.
  • #42,497
  • Sep 25, 2024 4:00pm Sep 25, 2024 4:00pm
Quoting MoHoSK
{quote} Its like my mind is playing tricks with me. I know how to trade but i always do the opposite whats right. Im not sure how to change that.
One suggestion what's work for me, and it was discussed here in past. Buy smaller challenges, and trade them different days. I buy only 10k even smaller. Currently had 3 funded accounts, ftmo, the5ers 5k and alpha. Only ftmo paid twice, all challenges gone by now but profit from ftmo was much bigger than cost of challenges anyway. So for example instead building 100k account buy 20k few accounts. You hit daily loss on one, no problem. Next day you start and trade second one, leave old one, do not revenge you come back later to one in loss. Somehow it works for me, but everyone is different, got different expectations etc.
  • #42,498
  • Sep 25, 2024 4:25pm Sep 25, 2024 4:25pm
Funny
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  • #42,499
  • Sep 25, 2024 5:48pm Sep 25, 2024 5:48pm
Quoting procrude
BTW, What the F* is going on with Gold... rate cuts will get Gold in the $3000 area. Exactly what Bank of America predicted.
my personal opinion its because of wars one after another before before it was covid before trump sanction n fight with china…. Its just one ends another starts…
Extreme gut feeling trader
  • #42,500
  • Sep 25, 2024 7:26pm Sep 25, 2024 7:26pm
Quoting montygoldy
{quote} my personal opinion its because of wars one after another before before it was covid before trump sanction n fight with china…. Its just one ends another starts…
Great thing about gold and indices, you have correction now and then, but can't go wrong with buy and hold. Great for swing trading, obviously cannot do that with the props though.
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