How am I not down 800k with only 100k profits after 900k down?
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By saying "Winning $1M and losing $900k" he means sum of all wins = $1M and sum of all losses = $900k and that gives you profit off $100k (difference between $1M and $900k)
back when i first started out i was doing the exact same thing, cluttering my charts with 10 different trendlines, fibs, and indicators just waiting for every single confluence box to tick before pulling the trigger, and shock horror i’d just get wiped out every time. took getting my teeth kicked in by the market a few thousand times to finally realise trading is just a massive numbers game where u can't avoid taking hits.
the confluence box checklist thing is such a common trap because it feels like discipline while youre doing it, more boxes ticked feels safer, but really its just delaying the trade until the move is already half over or the setup decayed into something worse. the numbers game part is the real lesson though, most people want trading to feel safe on a per trade basis when the safety only actually shows up over a large enough sample. did dropping the indicators happen gradually as you got more confident, or was there a specific losing stretch that made you just rip them all off the chart at once
I had the same problem with confirmations. One indicator said yes, another said no, so I kept adding more until I could justify the trade I already wanted to take.
Now I mostly use the 4H for context, the 15M–1H for the setup, and only go lower for the entry. If the picture still isn’t clear, I just skip it.
kept adding more until i could justify the trade i already wanted to take is the tell right there, the indicators werent actually informing the decision at that point, they were just decoration on a decision that had already been made emotionally. the 4h context, 15m to 1h setup, lower for entry structure sounds like it works because it gives each timeframe exactly one job instead of asking all of them to agree before you feel safe enough to click
2. TOO MUCH CONFIRMATIONS Rookie traders be like: First, I'll check the Dollar Index to analyse the current US dollar strength Then I'll draw trend lines on the Daily chart to understand where the preceding trend is heading, Then I'll go to the H4 chart and draw ONLY the major support and resistance / major supply and demand, Then I'll go to the H1 chart and find candle stick patterns, such as: pinbars, engulfing candle, morning star, etc.(and all those marketing shyt),, or I'll just identify the "long" wick candles and decide after it has formed....
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It’s hard for them to understand that even simple setup can make money and you don’t need to have dozens of confirmation to enter the trade LOL. Add to this, wrong interpretation of trading as a whole, as always winning activity.
