Bhel puri...Improving Brooks the Padu Way

trading bitcoin demo .....just loving it.....i used to dread sundays...........me and btc made for each other
as you can the trading is far from a train wreck
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padutrader said:
also with 5 min you will get a lot more 'reversal ' signals: which go 3-4 ticks and fail........it takes a long time and a lot of learning to sit through these false signals and let your profits run....that is why Brooks mostly scalps......if you do anything else in 5 min you will get stressed out.
so use longer time frames ....trading will still be hard but you will get less false signals and so trading will be less stressful.

now scalping is literally the hardest thing in the world to do........i would estimate that is so hard that less than 1 % of all traders are good at it.....

what most people find the hardest to do, is doing nothing: try sitting for an hour and do nothing think nothing..
but that is what you have to do in trading

i hope all this does not discourage you......it is no wonder that 95% of all traders lose money.

but it is the greatest game in town and the most rewarding monetarily, emotionally......
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Yes, PADU...

GO PADU!!!
 
the advantage of scalping something which trades 24 into 7 is that you need not be desperately praying for a opportunity. you can pick and choose and take what you think are the best.
 
padutrader said:
also with 5 min you will get a lot more 'reversal ' signals: which go 3-4 ticks and fail........it takes a long time and a lot of learning to sit through these false signals and let your profits run....that is why Brooks mostly scalps......if you do anything else in 5 min you will get stressed out.
so use longer time frames ....trading will still be hard but you will get less false signals and so trading will be less stressful.

now scalping is literally the hardest thing in the world to do........i would estimate that is so hard that less than 1 % of all traders are good at it.....

what most people find the hardest to do, is doing nothing: try sitting for an hour and do nothing think nothing..
but that is what you have to do in trading

i hope all this does not discourage you......it is no wonder that 95% of all traders lose money.

but it is the greatest game in town and the most rewarding monetarily, emotionally......
More...

Maybe you shouldn't try to trade every single little move in the market, but maybe you should look to only trade certain price action around certain levels. Levels from which you know they attract action, volume and create momentum.

Trading is about consistency, not about being right all the time, or being in the market all the time. I would prefer a strategy with 5 trades per day and a 80% accuracy over a strategy with 50 trades but maybe around 50% accuracy.

Also, money/risk management, it has been posted maybe a 100 times before in this thread, your risk management is horrible. You martingale, scale in on horrible positions, move stops way to often and take large losses, yet almost all profits you take to early, so you can never recover those losses. You recover your losses with martingale, but that doesn't work in the long run, never. You track record is the evidence for that fact.
 
But hey, who am i, I can't give constructive criticism, right.

No, the issue is you will probably think you know it all beter, yet again.
 
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