getting bumbled in the market shift entering trading vacation... -2k on the week pretty much worst week of the year and biting into this months profits... right now offering risks are paying out as longs. having a hard time adjusting to this.... after such a great month of buying failed breakdowns. +21k on the month i should be happy and i am but in all honestly slipped off the deepend here towards the end of the week. this is not the trader i want to be. walking away while im up coming back without the need to trade and will have better evaluation of whats worth playing and what isnt.
Awesome Job! Great video lesson! I hope to see you again at the next conference
Thanks Jake! Love the explanation of thought process - appreciate it!
Thanks Jake, this is great!
Thanks for sharing Jay
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if you like the video shoot me some karma as always im a trader myself not a profesional investment advisor and these videos are for entertainment purposes only you always gotta trade what works best for you just like i trade what is best for me
I watched this video on the day you posted it.. much appreciated insights.. helps me to find my own selection criteria.. I like slow and predictable moves over fast and unpredictable
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Update on small account challenge of $5k since February 2nd just crossed +$3k today rebuilding that foundation very nicely so far. Trading less trading smaller adapting to what the market is rewarding. Missing tons of plays keeping losses small so far so good. Might allow myself to size back up a little bit at the end of this week if I hang onto this Rhythm 🤘🏻. Hope everyone is having a great February im curious what’s the biggest lessons some of you guys have learned so far this month post in the comments. Let’s hear the good the bad and the ugly. Are you up or down? And how well are you adapting to the current conditions ?
Having a plan and sticking to it “Patience “ I’m a relatively new trader so I’m excited after 5 months of studying and paper trading. I have developed somewhat of a comfort level because I’m prepared and not shooting from the hip. Yes I’m up this month 👍👍
Slowly climbing back from the losses, one goode trade at a time. You've been an inspiration Jake - Keep doing what you're doing man, appreciate it.
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pain + reflection = progress..... february is going to be revolved around trading less trading smaller re-engineering better strategy to adapt to this newer market. +1200 on the week. not the end of the world but definitely a step back from what ive been doing in previous weeks and months stepping my risk down to $150 per trade from last years $300-$400 risk trades when i get convincing stats will be stepping back up with size. this is pyramid trading, this tactic is used to protect my account longer term and previous months and years of success. this tactic prevents profit bleeding and keeps you more level headed to adapt in current conditions. challenging myself to grow a $5000 account in this market this is going to force me to be more meticulous more selective and be more aggresive with tracking and data. February will not be about growing my account like previous months have been february will be about developing a more fine tuned selective angle with quality over quantity. i wish everyone a fantastic february, when in doubt getting back to strategy and process and prioritizing these over profits is key.
Thank you for sharing your insights. Protecting your gains while adapting to new trends in the market, developing/fine tuning a strategy and tracking data , sounds like great advice to me.
@Jayray_68 Thanks for sharing your struggles and goals. It's looking like it has been paying off
Thanks for linking this in chat today. We appreciate your input. You are a warrior sir.
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been a struggle this year for me back to updating trades will try to stay ontop of it while im out of my groove, if i get back in my groove might not be updating nearly as much. also im on downsize mode... going from 300-400 dollar risk trades to about 200 dollar risk trades to protect my account during this time of struggle. have been giving back tons of 1 for 2 1 for 3 risk reward trades so will be making some adjustments in my trading to take these base hits a little more often until i statistically start severely underestimating plays again. 2024 is eat or be eaten. time to adjust
Thanks for sharing Jay!
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