Now that we’re in September I have officially been trading for 4 years now. I started back in 2019 around the time of the whole C19 thing. In that 4 years I passed 10 FTMO challenges, which was pretty noteworthy, I came up with a very profitable strategy involving 7 different trading patterns.
I do remember when I was first starting out, I literally didn’t have a computer at the time. I would backtest for hours and hours on my cell phone, on tradingview. Looking for good patterns that produced consistent wins.
I would buy books on market structure, stock trading, studying probability, studying how casinos work, how professional poker players make money. Just anything and everything involving the world of day trading and everything else involved.
I was HUNGRY, dedicated, my purpose was to become a successful forex trader no matter what. I finally started to make some headway within my 2nd year. This is when it all “clicked” for me, I was able to spot profitable patterns pretty easily at this point. But it was year 3 where it really all came together.
I had figured out this giant puzzle. I thought that would make me even more driven and passionate but it actually had the opposite effect.
This led to me pretty much just phoning it in on my sessions. I can’t tell you the last time I filled out my trading journal even, let alone my trading log, or did any proper backtesting.
You have to practice “seeing” the patterns to keep it in your memory of what they look like. Like playing a sport, you have to continue to practice or your skills will suffer.
I need to get back to HUNGRY, PROFESSIONAL, RELENTLESS, and doing anything and everything to keep my skills at a top notch level.
So #1, I’ll be simplifying my trading down to just 3 trading patterns. The EMA pullback, Retrace, and Consolidation TC. Reversals do not have as high of a win rate as the trend continuation patterns, and if it’s a solid reversal you’ll eventually have a TC pattern within that move anyway.
Same with breakouts, just simply wait for the TC pattern rather than trying to trade the breakout itself.
All 3 of these TC patterns have at least a 1 bar confirmation on the 5 minute chart. So there is absolutely ZERO reason for a trading session to ever feel frantic or hectic. You simply wait for the confirmation, and then take the trade.
No confirmation, no trade. Simple as that. It’s important to remember there will ALWAYS be another proper trade probably within the next half an hour if you happen to miss one.
#2, I need to be taking my brand, The Currency Collective itself, much more seriously as well. This means updating the website, logos, live stream quality, starting and ending the streams on time, more of an experience that I used to provide with my early videos. Back when I was HUNGRY like I mentioned earlier.
#3, I just started up a $50,000 FTMO challenge, the new unlimited version, I believe on Sunday. I dropped the account down all the way to just $500 remaining.
I don’t want to throw the account away and waste that money, instead I will be running a recovery program on it. $10 risk until I get 10R, then $20 risk until I get another 10R, I’ll repeat that with $50 risk, $100 risk, and finally back to my original .3% or $150 risk to finish it up. This will allow me to get back on track with my trading before I risk any large amounts of money.
I will allow myself to take compound trades on Retrace moves and deep EMA pullbacks on existing 1 hour trends ONLY. Other than that I’ll stick with my current strategy of a straight .3% risk. I didn’t do it on purpose, but this will make for some great content as well, being able to recover the account from such a huge loss (which I’ve done before).
Those are the main things I’ll be working on. I have not taken a single proper break since I started this whole thing way back in 2019, so starting this week I will be taking 2 weeks off completely – from trading, and from making YouTube videos.
This is the time that I need to regroup, revamp, and come back HUNGRY like I used to be. I am a person who is normally all about excellence, I let that slip quite a bit recently but I’m bringing it all the way back.
I hope you guys enjoyed the video, my own little public pep talk to myself I guess. So I’ll be out of town until the 17th, and I’ll start back up the new and improved live streams on the 18th of this month. You can expect a much more awesome experience at that time.
I hope you all enjoy the rest of your holiday weekend. I’ll see you soon.
Lucid Dreaming by | e s c p | https://escp-music.bandcamp.com Music promoted by https://www.free-stock-music.com Creative Commons / Attribution 4.0 International (CC BY 4.0) https://creativecommons.org/licenses/by/4.0/
Forest by | e s c p | https://escp-music.bandcamp.com Music promoted by https://www.free-stock-music.com Creative Commons / Attribution 4.0 International (CC BY 4.0) https://creativecommons.org/licenses/by/4.0/