Trading Log: On the path to getting funded

[BackInTheGame78]

Clearly you are taking a lot of time to learn which is good. I wouldn’t worry much about dealer activity market making etc. there is so much liquidity in currency markets it would literally take a government entity to push a dealer around. Just assume New York and London and China are major time zones and where you want to trade, basically

Those are SMC/ICT concepts which a lot of what I am working on is built on. It would be foolish to ignore that type of stuff, it's there in every market, even Forex, where they are the only ones who are legally allowed to act in that way. Those patterns repeat over and over again where they drive price up, then return back to the OB to fill more orders since they can't fill a million orders or however many they are buying at once without causing a huge spike, so they do it over a bunch of different times. It's almost ridiculous how often the same thing happens.

The NY Reversal is almost always started inside the London KillZone and then again going the other direction in the London Close Killzone. The setup is when London sweeps the Asia high or low and then reverses. Not there every day but averages 2-3x a week clear as day and almost always plays out the same way.

For a swing trader or position trader holding positions over many days, those aren't important. For someone scalping on low timeframe those are very important.

 

[jaygreenb]

In January through March of 2020 trading patterns with insight from reading and watching the news, mostly triangles I turned 7k into 150k day trading nothing but cash bonds, who were telegraphing covid weeks in advance and then options on bond ETFs and then SPX options. Maybe a couple of overnights but mostly day. I had 100k of PnL on the first week of March and literally turned my screen off to take a client meeting that would never net me the money I had in the market. Can prove everything I just said. It is possible. Read the book OP - turn people’s feedback off and almost suggest you consider not posting here. The guy with the tip is the worst guy to listen to. If you get good you will make more sometimes in a day than 98% of Americans will make in a year.

How you do you earn your income today and you have to be at least a multi millionaire by now right? Question is a little tongue and cheek but this post reads like a broke degenerate gambler reminiscing about a win streak half a decade ago. The problem most run into with this strategy is they can have a perfect hundred win streak but one loss or a bad string can erase it all. It is building bad habits to build wealth and maintain it over an extended period of time, eventually you get caught offsides

 

[Divorced w 3]

How you do you earn your income today and you have to be at least a multi millionaire by now right? Question is a little tongue and cheek but this post reads like a broke degenerate gambler reminiscing about a win streak half a decade ago. The problem most run into with this strategy is they can have a perfect hundred win streak but one loss or a bad string can erase it all. It is building bad habits to build wealth and maintain it over an extended period of time, eventually you get caught offsides

You made a statement that people are gullible sucker loser who are attempting to trade in the way op is trading. All I did was give you an example of someone successfully doing it relatively recently. if the way I discuss this subject doesn’t convey a certain amount of confidence and experience to you, okay

 

[jaygreenb]

You made a statement that people are gullible sucker loser who are attempting to trade in the way op is trading. All I did was give you an example of someone successfully doing it relatively recently. if the way I discuss this subject doesn’t convey a certain amount of confidence and experience to you, okay

Think you have me mixed up with another poster, never said anyone was a gullible sucker. My point really was, you can have a good run but over time there is usually not sustainability in it for a million different reasons. You obviously have experience with this, what have been your results after that period of time. Are you still trading? have you continued to make outsized gains?

 

[Divorced w 3]

Think you have me mixed up with another poster, never said anyone was a gullible sucker. My point really was, you can have a good run but over time there is usually not sustainability in it for a million different reasons. You obviously have experience with this, what have been your results after that period of time. Are you still trading? have you continued to make outsized gains?

This is not my trading log, and you did call him gullible.

 

[BackInTheGame78]

This is not my trading log, and you did call him gullible.

This is not my trading log, and you did call him gullible.

Even better...I've spent my whole life proving people wrong. Maybe this time will be different tho.

Doubtful. Might as well be pouring jet fuel on a forest fire.

 

[jaygreenb]

This is not my trading log, and you did call him gullible.

That was first post on this thread, please show me where

Even better...I've spent my whole life proving people wrong. Maybe this time will be different tho.

Doubtful. Might as well be pouring jet fuel on a forest fire.

Brother, you did what exactly you were warned about in 2021/22 during the following crypto bear market. I genuinely hope you succeed but you are rewriting history.

 

[BackInTheGame78]

That was first post on this thread, please show me where
Brother, you did what exactly you were warned about in 2021/22 during the following crypto bear market. I genuinely hope you succeed but you are rewriting history.

Show me one person who didn't fail first in attempting to do anything and I will show you a person who hasn't accomplished much of anything.

Failures are a necessary and useful teacher on the path to success if you choose to learn from them.

Thomas Edison failed 10,000 times before he created the light bulb and when they asked him "How does it feel to have failed 10,000 times?" and he replied "I have not failed. I've just found 10,000 ways that won't work. But I only need to find 1 way that works."

There are plenty of millionaires and even billionaires who failed badly numerous times before they succeeded. Know why they succeeded when others didn't? Because they never stopped believing they could and they never let singular failures stop them on the way to their greater purpose.

They certainly never allowed people like you to tell them what they were and were not capable of achieving in life.

Most people think success is some magical thing that just happens, but it's not. It's a byproduct of a lot of failures and a lot of behind the scenes work and grinding away in obscurity when nobody is watching at what is going to make them better. It's a byproduct of how you talk to yourself every day internally.

If you've never read Billionaire Richard Branson's story perhaps you should. That dude flamed out so many times most people would have just quit. He decided to keep going and became a Billionaire.

A side note from one of the best Day Traders of all time, Lance Breitstein, who worked at Trillium and who basically is the top earner for them in their history with multiple years over $20 million dollars...this dude worked there for 2 years under one of the best mentors they had and never had a single profitable month for 2 years!! 2 years! Perhaps he should have just given up also?

I'm not like you. I'm built different. I don't care about failures, I accept them and I learn from them. Then I don't fail again in the same way.

 

[jaygreenb]

Show me one person who didn't fail first in attempting to do anything and I will show you a person who hasn't accomplished much of anything.

Failures are a necessary and useful teacher on the path to success of you choose to learn from them.

Editing, since you added to your post.

Failure along the way to success certainly is part of the process but it also does not guarantee it. A lot of that depends on what type of adjustments you make, what strategy you are using and in what application/context. The reason I mentioned it to you previously, is because I see you making the same mistakes this time around, saying the same exact statements with the same type of bravado. Comparing famous millionaire/billionaire businessmen and inventors to essentially day trading is laughable. Not even in the same stratosphere. The men listed solved problems and created value to society as a whole. Trading is at best looking for micro inefficiencies in markets to exploit but for most is basically gambling. Trading is not actually creating anything and major reason most fail. It also has about a low a barrier an entry as possible, that is why you see so many people who havent done anything gravitate to it

My point to Divorcedw3 is although he had a good streak, it wasn't something that he maintained and had success with over the long term. Not a knock, but just the reality of the situation. Anyway, wish you well

 

[BackInTheGame78]

Editing, since you added to your post.

Failure along the way to success certainly is part of the process but it also does not guarantee it. A lot of that depends on what type of adjustments you make, what strategy you are using and in what application/context. The reason I mentioned it to you previously, is because I see you making the same mistakes this time around, saying the same exact statements with the same type of bravado. Comparing famous millionaire/billionaire businessmen and inventors to essentially day trading is laughable. Not even in the same stratosphere. The men listed solved problems and created value to society as a whole. Trading is at best looking for micro inefficiencies in markets to exploit but for most is basically gambling. Trading is not actually creating anything and major reason most fail. It also has about a low a barrier an entry as possible, that is why you see so many people who havent done anything gravitate to it

My point to Divorcedw3 is although he had a good streak, it wasn't something that he maintained and had success with over the long term. Not a knock, but just the reality of the situation. Anyway, wish you well

Exactly what mistakes am I making when I am actually using stop losses this time which was main issue initially and there is no Luna to get caught up in Futures?

I also am far, far more versed in when to enter and staying out of traps and ranges using numerous things as confirmation but especially volume, something I never really did back then. The biggest thing I need to work on are my exits. I am losing a lot of profit by poor in trade management.

It's not luck, it's not pressing a button randomly and stuff just happening to go my way. It's been a lot of hard work, studying, replaying, and watching videos and reading books about various things.

Even the trades I lost woud have been big wins if I simply waited it out for 10 more minutes. But I am more mindful of cutting trades so I cut them. I took a bad entry and I replayed every one of them over and over again to see where I fvcked up.

If you think never fvcking up is the only way to actually prove you are successful then I've got news for you, you are the one who is delusional.

Some of the most profitable day traders have win rates of 55-60% and some even lower.

At what point do actual results matter to you?

Apparently never.

And as far as comparing myself to billionaires the point is that at one point they were broke, not billionaires. Apparently to you that meant they'd never succeed.

Which is probably just how they liked it, as do I.

 

[jaygreenb]

I'm not like you. I'm built different. I don't care about failures, I accept them and I learn from them. Then I don't fail again in the same way.

You are right, you are not like me. I have actually built a real business with employees and made well over 7 figures investing.

Exactly what mistakes am I making when I am actually using stop losses this time which was main issue initially and there is no Luna to get caught up in Futures?

I also am far, far more versed in when to enter and staying out of traps and ranges using numerous things as confirmation but especially volume, something I never really did back then. The biggest thing I need to work on are my exits. I am losing a lot of profit by poor in trade management.

It's not luck, it's not pressing a button randomly and stuff just happening to go my way. It's been a lot of hard work, studying, replaying, and watching videos and reading books about various things.

At what point do actual results matter to you?

Apparently never.

What results? You capitulated at the literal bottom of the market and disappeared for over a year only to reappear when the market was pumping again.

 

[BackInTheGame78]

You are right, you are not like me. I have actually built a real business with employees and made well over 7 figures investing.


What results? You capitulated at the literal bottom of the market and disappeared for over a year only to reappear when the market was pumping again.

I am trading futures. That market never went away and it never will. Corn, Soybeans, Wheat, Oil, Forex, Gasoline, Natural Gas, Metals, etc...

Did I? You sure about that? Think you need to get your facts straight. Sometimes the time spent in silence is the time when the most work is getting done.

My last crypto buy was when I bought 3000 Trias at a little over $1.50 and then sold it at $17. Do the math on that one Einstein.

 

[jaygreenb]

I am trading futures. That market never went away and it never will. Corn, Soybeans, Wheat, Oil, Forex, Gasoline, Natural Gas, Metals, etc...

Did I? You sure about that? Think you need to get your facts straight. Sometimes the time spent in silence is the time when the most work is getting done.

My last crypto buy was when I bought 1500 Trias at a little over $1.50 and then sold it at $17. Do the math on that one Einstein.

Yeah, on an account you hadn't logged into for a year and a half, by your own words. Einstein. Your delusion will be your own detriement, oh well

Holy sh!t, I forgot I bought 3000 Trias toekns when they were down around $1.50 a piece, like a year and a half ago... I logged into Kucoin and see they are worth 50K today....since they no longer do business with US Residents I need to transfer it to my wallet over the next week or so to sell

Haha...nope, just someone that has made a of money in crypto, lost a lot of money stupidly and then made a smart decision in one of my last moves before I took a break during the downturn.

Honestly it was just a calculated guess. Sometimes they pay off, sometimes they don't.

 

[BackInTheGame78]

Yeah, on an account you hadn't logged into for a year and a half, by your own words. Einstein. Your delusion will be your own detriement, oh well

I also had a lot trapped staking and still staking...mainly big positions in ATOM and DOT.

Since I started they have gained 300 ATOM and almost 400 DOT...as well as a lot of GLMR, ACA and ASTAR from the parachain auctions.

My positions are down currently but they were never sold. Not going to make that mistake again of HODLing in a downturn.

And technically, by fundamentals, we have not hit a true Bear Market since well before 2021 on anything past the 3D chart

We put in a Higher High, a Higher Low and then another Higher High. There was no Lower Low or Lower High on the weekly or monthly charts.

On the 4D chart we put in a lower highs and lower low to switch bearish but then had a change of character to Bullish and put in a higher high. A higher low will confirm the bullish trend change on the 4D.

Bro, you've got millions, take a few weeks off and take a class on market structure. Fundamentally Bear Markets make lower highs and lower lows on whatever time frame you are looking at and that hasn't happened below 4D.

 

[jaygreenb]

I also had a lot trapped staking and still staking...mainly big positions in ATOM and DOT.

Since I started they have gained 300 ATOM and almost 400 DOT...as well as a lot of GLMR, ACA and ASTAR from the parachain auctions.

My positions are down currently but they were never sold. Not going to make that mistake again of HODLing in a downturn.

And technically, by fundamentals, we have not hit a true Bear Market since well before 2021 on anything past the 3D chart

We put in a Higher High, a Higher Low and then another Higher High. There was no Lower Low or Lower High on the weekly or monthly charts.

On the 4D chart we put in a lower highs and lower low to switch bearish but then had a change of character to Bullish and put in a higher high. A higher low will confirm the bullish trend change on the 4D.

Bro, you've got millions, take a few weeks off and take a class on market structure. Fundamentally Bear Markets make lower highs and lower lows on whatever time frame you are looking at and that hasn't happened below 4D.

I really could care less about TA and charts. Time is better spend increasing your income to put into the market. It is about long term value proposition, secular/macro trends and managing risk. You can classify it any way you want but when you took your "break" that is exactly when you should of put your foot on the gas and started buying one of a few plays that are worth holding and more than just a trade. You would have built the base to catapult yourself to where you actually want to be.

 

[BackInTheGame78]

I really could care less about TA and charts. Time is better spend increasing your income to put into the market. It is about long term value proposition, secular/macro trends and managing risk. You can classify it any way you want but when you took your "break" that is exactly when you should of put your foot on the gas and started buying one of a few plays that are worth holding and more than just a trade. You would have built the base to catapult yourself to where you actually want to be.

I used that time to switch jobs twice and get a 20K raise each time and then drop 84 lbs as of this morning and be in the best shape I have been in since my senior year in college ready for the beach with a full set of abs. At that time my health was a more important focus for me.

And to invest heavily in reading materials and to work on increasing my knowledge base because I knew I had a lot to work on and improve on. I've done that by a significant amount, but I still am improving each day and need to continue to improve. I'm still nowhere near where I need to be.

 

[BackInTheGame78]

Had a busy few days and once again, still haven't learned my lessons on patience. This is going to be a battle with myself.

So, Wednesday I had my second losing day, down $600. On the strength of longing RBOB Gasoline at what I thought was a breakout but turned into a pullback. Why, because I wasn't patient and failed to wait for candle close confirmation.

Cut the trade at $600 loss but if I only would have zoomed out a little more and saw, it was a clear cup and handle pattern forming and not more than 10 minutes later it exploded for a huge gain right thru it and continued up the rest of the day. That trade would have completed the challenge.

Lesson learned? Wait for confirmation, always.

Yesterday I had a green day up $300 with a few small wins, then today followed with another green day +500, but again my penchant for cutting winning trades early but me in the ass.

Any one of the 3 trades I was in would have completed the challenge as they all ended up being +2000 trades. I shorted copper early this morning at 4.71 and within 30 minutes it reached 4.60. The short was after London swept the liquidity of the Asia high and reversed, a classic NY Reversal inside the London KillZone. I got in the trade about an hour after it started after reaching a high of 4.7455, and then got out before it completed it's move downward. Why? I'm an idiot.

Then I shorted Silver with an entry at 2.875. Why? Because there was a very high confluence of factors going into it...a tweezer top rejection on the H4 chart from a Bearish OB, an Evening Star Doji on the H2 chart, and a Bearish Spinning Top and Gravestone Doji on the H1 chart. Ended up getting down to 28.270...even half of that would have completed the challenge for me.

Then, I saw Copper stop along the support trend line, start moving sideways and then patiently waited to see if we were going to get a breakout, which is what I was expecting, or a breakdown which I felt was unlikely since it just hit a new high. Waited and waited and it broke out of the triangle upward, I got in at 4.6345, and then got out again early, then it got back up to 4.6675, again easily would have completed my challenge.

The good? My chart reading skills and technical analysis continues to be on point. The bad? I continue to bail on winning trades early. No more. Come Monday, I am setting stop losses and take profits prior to the trade and it either hits or gets stopped out. Once it moves up high enough I will likely move my stop to break even tho so I don't take idiotic losses on winning trades tho potentially.

I feel super confident in my charting abilities and chart reading skills, but I refuse to allow them to play out.

Enough is enough.

Either way, it was a good overall week, closing up $1100 and just under +5K. 4 green days and 1 red day. A little under $1100 to go to pass the challenge and my drawdown is still under $50 out of $3000.

Overall, 11 green days to 2 red days so far since the beginning and lots of profit left on the charts.

Got a long weekend of bar replays to go thru on my trades and then setting up my plans for the week ahead. Another week like this one and I will complete the challenge successfully. But I am wanting to take care of that early on...as long as there are opportunities. I will not force them.

 

[BackInTheGame78]

Very interested in Forex pairs next week as there appears to be a massive Cup and Handle on the $DXY daily chart in the handle position and about to make the turn to break thru...

Foreign currencies likely getting shattered next week or the week after if it takes a little longer to play out.