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Different things work for different traders I guess. I rarely watch the charts more than 2,3 hours a day. Patiently wait for a trade, make 1% and I happily close the platform. 5 % DD in a day? Apologize if I am wrong, but are you trading a relatively smaller account? How many hours per day do...

Love it :D :D

No FOMO. There is always another opportunity around the corner!

I assume you are asking from a viewpoint of an investor? I would only be interested in track record. If you offer a different product as other market participants, it is only a plus point, as you can claim diversification benefits... If I misunderstood the question, I apologize :)

I think the key fact here is you have a second job which covers your monthly expenses. Another key fact is, how quickly could you get similar job like your current fulltime? Anyway, if you go with trading, good luck!!! :)

For me, 0.5% is 1R. I sign for 100% consistency of 1R per day anytime. In a year, thats over 120% what is a nice return! :)

Yeah true. I was thinking about studying the algos some years ago, but then I thought it is just way too much to learn to be able to compete on the same level with professionals. I would always prefer to outsource the coding to a specialized expert instead of waste thousands of hours to learn it...

Was just going to say this :D

Hi, I would suggest you do two things: 1. Decrease position size. If you are so emotionally attached to the trades, your position is probably too big for you. Also, how much are you risking per trade? Decrease that as well. Once you see consistency, you will be happy you did it. 2. Set profit...

Exactly - you are looking for an area that was the root of the strong move

Good luck!!

Hi SimpleMeLike, thats the thing. I know myself and I am not profitable in choppy markets. By choppy I do not mean ranging, to be clear. Choppy does not work for me therefore I stay out of choppy markets. Interesting points though. Did you try answering them yourself? Seems you do know where...

Not sure if I understand you correctly. With professional forex traders you are talking about the ones employed at institutions or are you talking about fulltime retail traders (for which this is also their primary source of income)? I trade 4 pairs regularly, 3 more I watch and might enter a...

Yeah that is also a good point...

I would guess the amount of journaling depends on the amount of trades you take in a day. If you enter a few trades, then you should have time to make 3 screenshots (higher timeframe, entry and exit), no? If you enter 50 positions daily I would also not bother. I would journal only the most...

The way I look at the zones: if they do not pop up nicely immediatelly, you can first search for big candles and then to search for the indecision zones that caused the move. It helps if while marking them you switch timeframes to get a nice area...

True!

Hi, thanks for your comment :) Personally, I am convinced it is not doomed, but I always want to hear other opinions! I believe the biggest advantage manual non-institutional traders have, is that we do not NEED to trade. Meaning, we take a look at the markets, if it looks choppy, we stay out...

Good luck on your journey, ICT is a legend. Also, risking 2% on a single trade is way too much, especially for a beginner. Risk 0,5% on a single position first. this will also help you with getting emotions under control. Also, there are plenty of prop trading companies where you can get funding...

So what you are essentially saying, is that manual daytrading is doomed?