By order flow I mean orders that institutions or retail want filled and you take the other side. Not open to retail. Maybe if you target crypto or sports you can do it as a retail person being a market maker or bookie.
What makes a consistently profitable trader different from others?
- Thread starter qwB
- Start date
OK thanks.
#1 Context to be defined as ability to understand macro direction, the current stability / integrity of the market you're trading and also pick up on micro price pattern changes within that, that sometimes last days, weeks or even longer.
Otherwise you're just relying on a strategy / entry vehicle and you're at the mercy of the market not changing. As soon as it does and you lack context to understand that its game over for you.
#2 Properly capitalized or at the very least not having the pressure of needing to produce income to live off of(goes to mind set / mental essentially)
The gap between making "X" defined as a livable wage on a sizable account vs trying to produce "X" also defined as a livable wage on a smaller account is almost not even the same thing. It's two totally different leagues and trying to do the later just adds to the complexity and drastically reduces your chances of success.
Otherwise you're just relying on a strategy / entry vehicle and you're at the mercy of the market not changing. As soon as it does and you lack context to understand that its game over for you.
#2 Properly capitalized or at the very least not having the pressure of needing to produce income to live off of(goes to mind set / mental essentially)
The gap between making "X" defined as a livable wage on a sizable account vs trying to produce "X" also defined as a livable wage on a smaller account is almost not even the same thing. It's two totally different leagues and trying to do the later just adds to the complexity and drastically reduces your chances of success.
As you know there is no right or wrong way to trade, if there was one way every trader would be a millionaire, but it sounds like you have found your edge (Well done)
I have a similar situation i trade Fibs levels or should i say my Fib levels, which are certain Fib levels which i have found repeat themselves consistently on a low time frame, i once mentioned a little how i trade and got shot down by the Fibonacci gurus who were saying all my levels were wrong, Fibs don't work, etc etc.
But if it works for me.
agreed.... some of us study/test/etc and recognize certain conditions/techniques that work for us. these are unique to each of us, understood by each of us and its difficult for others to buy into without developing those ideas themselves.
cheers
toucan
Consistency, discipline, knowledge in their own branches of strategies, immense experience accumulated throughout many years of trading, and always backtesting before going live. Balance in all things.
%% THAT;
+ lots of work..........................................................................................................
RE helps also;
a lot better than rent control
