@Onyx
Hey, you got it wrong, homie. Keep blaming everything around you or some BS you learned on the internet. Bottom line is if you don’t have a strategy, and it sounds like OP is still trying to discover his, you’re going to grasp at straws as to why.
All I’m saying is that you have to have a strategy you develop and stick to it no matter what. That includes risk, setup, etc. Revenge trading is not psychology but rather a shitty perspective because you’re wrong on market direction.
If you have that strat, psychology doesn’t matter because you know what you’re doing, and it becomes mechanical.
@Lior
To each their own, but I’d say you’re the 1% that believes that.
Sticking to your strategy 100% of the time is controlling emotions and psychology.
Not gonna keep arguing with you.
Delaney said: @Onyx
Revenge trading isn’t psychology. It’s a lack of knowledge, system, data, plan, and understanding of probability and market statistics.
You can know all of that and still have a shitty trading day due to revenge trading because you couldn’t control your emotions. That’s literally psychology. Stop trying to be a contrarian.
Onyx said:
Your psychology isn’t good; work on it (only really works with experience, relax, etc.)
“Your psychology isn’t good” = bad trading plan, bad risk structure, no collected data, too little knowledge, bad understanding of probabilities and statistics…
Onyx said:
Your psychology isn’t good; work on it (only really works with experience, relax, etc.)
After 4 years, his “psychology” should be strong enough. Not really because of what he is telling there but not because ‘oh my psychology is not good enough/sadface’.
So whether his strategy sucks, or he’s not following the rules, or whatever other mechanical error in his system.
Oh my god, this ‘psychology’ thing, how much damage that BS is doing to the trading community.
ICT is a complicated way to see markets. SMC is just a new concept developed by ICT’s students to make it simpler. It takes more time to understand markets using ICT than price action for sure.
Secondly, in trading, what is very difficult, is to know if you are really good or just being lucky. You have to ask yourself 2 questions: Uno (Was I lucky when I passed the challenge?) - second (in the period I passed the challenge, was the market respecting my strategies? If yes, how many months per year does it respect my setups?)
Third, I didn’t like this statement you wrote: ‘When I was a beginner, I used to win 10R +. Now I can’t even win and trust my trade idea of 2R.’ When you were a beginner, did you do 10R consistently or just from time to time? The second question, how aren’t you trusting your trades? Did you do your homework (the backtest)?
Think always about probabilities, and know the flaws; are your risk management good? Did you have a well backtested strategy? What are the market conditions your strategy doesn’t work on? And a lot of questions.
I started off with simple chart pattern/EMA break stuff and switched to the ICT concepts.
ICT helped pass challenges, but I began relying too much on the FVG/OBs.
I now use the RSI + Pattern Breaks and I’ve never been in such a zone. I’ve definitely fallen back into old habits and blown a couple of live accounts, but again it’s really just been emotional and psychological things messing with me rather than taking my time and relaxing sometimes.
4 years in and I finally feel confident enough to take any trade I set my mind on because I’ve blown enough accounts and made enough mistakes to learn from.
Note that when your emotions get out of whack whether positive or negative, you failed. Fix that, and you got it friend! Believe in yourself and remain humble. Good luck!
Blake said: @Adrian
Good for you! What’s your favorite pattern breakout, and do you use the RSI for divergence?
Favorite pattern breakout has to be the ascending/descending triangle pattern. Been a very reliable continuation to follow. And yes, I almost never enter a trade without seeing divergence.
You just rushed into it and lost a bit. It’s part of your journey as a trader. ICT didn’t mess you up; you not realizing you need to take a break is what is messing you up. When you pass a funded account, just be patient.