Hey, fantastic video! You did an excellent job describing your processes as you navigate your trading journey. I went through a similar experience when I first started trading. One key factor that helped me achieve a breakthrough was making my trading process very black and white. By this, I mean I adhered to specific, well-defined rules based on my backtesting. If a setup didn't meet all my criteria, I simply didn't take the trade, even if it looked promising. This approach helped me eliminate emotional decision-making and treat trading as a disciplined process. Another strategy that helped me during losing streaks was having a go-to setup that I knew inside out. This setup was my reliable fallback. Whenever I faced a series of losses, like five in a row, I would exclusively trade this specific setup to get back on track. It served as a confidence booster and helped me regain my winning streak. Keep up the great work!
I passed that stage recently!! Was definitely a hard one to pass but yeah my problem was get rich quick mindset which led me to overwaiting for the perfect trade and when I didnt have a trade for 10 days I would just take any trade to feel like I am doing something so I would lose the trades I would take,,, and the trades that I would already project and not take, they would hit top
@@summonlucifer if it’s your first 10 days there’s really no way to tell how good of a trader you are. You have to look at performances over at least 5 months to a year, sometimes more than that.
i have lost over 7 prop firm challenges just like this, with a different strategy everytime. Starts off good because my strategy worked at the time, then market changes and shit goes left. I have learned different strategies works in different market conditions, took me a while to understand that, still struggling but we are getting better everyday. For me its all strategy, systemizing everything, no own decisions. But thats just me though, good luck out there guys! be safe
Too many pairs, stick to 1 - 2 max, too many sessions stick to one session everyday. Entry - 15/5m only. Also HTF ‘trend’ isn’t as important unless you’re executing on the daily/weekly, you want to focus where is this current day ‘likely’ to expand. If your results don’t improve from this I’d be surprised.
Bro I understand you so well, for me the challenge chart also always looks like break even just under the break even line and then does a head dive at the end.
The head dive is crazy haha, It happened to me before I was like 2% away from blowing the account, and then completely reversed and I managed to pass it, so I have faith its recoverable.
@@jakeghattaora I had a 160% yesterday at 3pm, then lost it over the course of the night. Then gained it all back and more between 2-3am. I feel like its making me a little less emotional in the fact that I made such big swings, but at the same time it makes me a bit anxious to try and stay profitable. Seems like we're in the same exact boat.
@@zayaboi Big swings definetly can numb you emotionally, which is a good thing because you will be less reactive to those type of moves in the future. Keep it up though bro, we will make it.
Reason you think you’re BE is because you’re trading small at times then you trade large and get back to baseline by a lucky hit or extended RRR. If you place constant risk per trade over 100 trades you’ll see that you are actually unprofitable. First step is awareness.
99% of break even traders are actually unprofitable. You think you’re BE but you’re not. Place same risk for all trades and you’ll see how you’re not actually BE.
Risk management is part of profitable trading. If you have a consistent variable risk management strategy based on your performance and you're BE, it doesn't matter if you place 1% for all trades because that is not your risk management strategy. But I get where your coming from.
Hey, fantastic video! You did an excellent job describing your processes as you navigate your trading journey. I went through a similar experience when I first started trading. One key factor that helped me achieve a breakthrough was making my trading process very black and white. By this, I mean I adhered to specific, well-defined rules based on my backtesting. If a setup didn't meet all my criteria, I simply didn't take the trade, even if it looked promising. This approach helped me eliminate emotional decision-making and treat trading as a disciplined process. Another strategy that helped me during losing streaks was having a go-to setup that I knew inside out. This setup was my reliable fallback. Whenever I faced a series of losses, like five in a row, I would exclusively trade this specific setup to get back on track. It served as a confidence booster and helped me regain my winning streak. Keep up the great work!
Hey man, this is really good advice, I will definitely look into implementing these tips, I appreciate it bro.
Very good advice. Experience is speaking from your words. I am breakeven trader too. 😊😊
I passed that stage recently!! Was definitely a hard one to pass but yeah my problem was get rich quick mindset which led me to overwaiting for the perfect trade and when I didnt have a trade for 10 days I would just take any trade to feel like I am doing something so I would lose the trades I would take,,, and the trades that I would already project and not take, they would hit top
if you're a breakeven trader, you're already a better trader than 90% of traders.
And if I’m profitable 20% my first 10 days where does that put me
@@summonlucifer Come back here in a few months, thats called beginners luck
@@summonlucifer if it’s your first 10 days there’s really no way to tell how good of a trader you are. You have to look at performances over at least 5 months to a year, sometimes more than that.
@@summonlucifer lucky
@@summonlucifer in the lucky people group
i have lost over 7 prop firm challenges just like this, with a different strategy everytime. Starts off good because my strategy worked at the time, then market changes and shit goes left. I have learned different strategies works in different market conditions, took me a while to understand that, still struggling but we are getting better everyday. For me its all strategy, systemizing everything, no own decisions. But thats just me though, good luck out there guys! be safe
is it possible to get a template of your trading journal?
Too many pairs, stick to 1 - 2 max, too many sessions stick to one session everyday. Entry - 15/5m only. Also HTF ‘trend’ isn’t as important unless you’re executing on the daily/weekly, you want to focus where is this current day ‘likely’ to expand. If your results don’t improve from this I’d be surprised.
Thanks for the advice bro, you're right, it's something I've already been working on refining, will need to do some more testing first.
Brother could you drop the link for your trade tracking spreadsheet? im in the same boat as you rn, loved the insights and the transparency here fam
Bro I understand you so well, for me the challenge chart also always looks like break even just under the break even line and then does a head dive at the end.
The head dive is crazy haha, It happened to me before I was like 2% away from blowing the account, and then completely reversed and I managed to pass it, so I have faith its recoverable.
@@jakeghattaora I had a 160% yesterday at 3pm, then lost it over the course of the night. Then gained it all back and more between 2-3am. I feel like its making me a little less emotional in the fact that I made such big swings, but at the same time it makes me a bit anxious to try and stay profitable. Seems like we're in the same exact boat.
@@zayaboi Big swings definetly can numb you emotionally, which is a good thing because you will be less reactive to those type of moves in the future. Keep it up though bro, we will make it.
Please share your track sheet 🙏
Better a breakeven trader than a losing trader........
bro ill be real with u i was like u what changed it is sticking to one pair trading all those will make u lose bias etc just stick to one pair
Reason you think you’re BE is because you’re trading small at times then you trade large and get back to baseline by a lucky hit or extended RRR. If you place constant risk per trade over 100 trades you’ll see that you are actually unprofitable. First step is awareness.
drop the dc cuz lemme c if i can help
99% of break even traders are actually unprofitable. You think you’re BE but you’re not. Place same risk for all trades and you’ll see how you’re not actually BE.
Risk management is part of profitable trading. If you have a consistent variable risk management strategy based on your performance and you're BE, it doesn't matter if you place 1% for all trades because that is not your risk management strategy. But I get where your coming from.
Gluck
Not hating, just saying.
join pb