Received this message earlier and I want to just share something with you that might help you in your journey as a trader.
Back in 2020/21 @Trader_XO was smashing the markets. Nailing every move and risking off when it was the right thing to do. I was a seasoned trader back then, could trade intra day and I could also nail bottoms but my problem was taking profit and risking off at the right time.
The May 21 dump was my one and only lesson. I took a big hit that day. In hindsight, it was clear the market was heading lower. I just didn’t have the experience back then to notice in real time. I saw what XO was doing and he was the driving force behind the changes I made heading into 2022 bear market.
Since then I’ve been trading this market up and down without taking huge losses. Everything has been controlled risk management and executed with precision. Knowing exactly where I'm wrong and why with clear targets in mind.
Me and XO do have different systems but we always seem to come to the same conclusion and one thing I’ve learnt since developing my own system is that almost ALL systems come to the same conclusion in the end.
If you’re trading orderflow, it’ll show up via momentum based oscillators. At every divergence you'll see a bunch of traders offside attempting a breakout. If you’re trading moving averages and the fast one is above the slow one it’s likely the market will be trading above a key level too. If you’re looking at structure, many things will line up with it. A good trader uses multiple factors of confluence to frame a trade. This can help define whether a setup is A+ or B-
It was never the system that was the problem. It was more so my lack of ability to allow the market to guide me. I was ignoring the warning signs. I was emotionally invested in a bunch of crap and I ultimately paid the price. I never had the experience of taking losses because it was an up only market and everything I touched went up.
The only reason I am still here today is because I stuck it out, learned from my mistakes and developed my skills through a bear market. A market that is a lot more difficult to trade than an up only market. You learn a hell of a lot about yourself, your ability as a risk manager and your system ultimately improves with each trade.
XO was someone I looked up to and now I’m being compared to him. We also talk often. I consider him a good friend and he’s one of the best to ever do it. I also respect him for helping the smaller guys in the space. Always interacts with the smaller accounts and brings them up.
If you want something you’ll work hard and you’ll not let yourself quit. It’s just not something I’ve ever thought about. I knew I’d always make it. No reason why any one of you reading this can’t too.
