This video was a prime example of good trades taken just poor management.
As you guys can tell from my dialog, I was clearly not level headed when it came to my decision making today. I was trying to follow ICT's commentary but I was getting confused as I was also trying to interpret it with my own understanding of the current levels on my charts.
As I stated in previous videos, I was feeling lots of anxiety and emotions today because I tend to go through that after a very good trading week. I feel like it's personal confidence after a good trading week gets affected due to me striving for perfection.
We see several mistakes in this trade, I was buying at premium levels, 19,750 - 19,798.50. Till ICT commented that he would not be long here (Thanks ICT, idk what i was thinking 😂 )
I then revised my idea and saw we had traded under the Bullish fvg from 9:51am, once price trades through it that is usually one of my favorite trades to take because price tends to react very quickly to those areas.
If you're right or wrong, you will find out quickly usually.
Once price reversed, I caught a beautiful trade of over 300 points, but because it was MNQ and I had already taken several losses from forcing my trades, I needed many more points to make back the money I had lost to prior trades.
This leads to a flawed thinking of mine, I tend to target trades over 300 - 600 points..
And the problem is that often times I will be right and catch those trades, but its unrealistic of me to always expect myself to catch these trades as not every trading day will present me those price moves.
So some things I have learned today through my trading mistakes and losses:
1. Place SL above the highs when I enter a trade (the volume imbalance tapping me out made me want to cry 😢 lol) sl was hit at 10:25am.
Plan of action, be more patient with my trades and if I enter a trade, trust it fully, calculate my risk and accept the trade for what it is.
2. We failed to take profit at the 9:30am lows. It was a clean profit, inside of the 1st presented FVG. I most definitely should have taken profits there, despite my trade entry being above where price traded to and continuing lower. I most likely would've not wanted to hold through the trade or might have trailed my sl past BE causing me to get stopped out with minimal profits.
Below is the trade where we can see we could've simply risked 40 points to mave over 300.
Its better to just take the profit at the liquidity area (the lows) and then watch to see if price will continue lower or reverse for learning purposes.
There is no need to always catch 300+ moves BRUNA. Come on. Lets keep it simple.
Anyways guys, this is my attempt of analyzing my mistakes today. I am wholeheartedly in this trading journey and I wanna share all the mistakes and losses and problems with you guys in hopes that if someone is also struggling with these issues, that you might learn from my mistakes and maybe learn something from my mark ups.
If you guys enjoy this type of content I would appreciate you guys giving it a like, share with your friends. There is more to come (:
Forex, Crypto and Futures Trading Risk Disclosure:
The National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC), the regulatory agencies for the forex and futures markets in the United States, require that customers be informed about potential risks in trading these markets. If you do not fully understand the risks, please seek advice from an independent financial advisor before engaging in trading.
Trading forex and futures on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.
There is a possibility of losing some or all of your initial investment, and therefore, you should not invest money that you cannot afford to lose. Be aware of the risks associated with leveraged trading and seek professional advice if necessary.
BDRipTrades Market Opinions (also applies to BDelCiel and Aligned & Wealthy LLC):
Any opinions, news, research, analysis, prices, or other information contained in my content (including live streams, videos, and posts) are provided as general market commentary only and do not constitute investment advice. BDRipTrades, BDelCiel, and Aligned & Wealthy LLC will not accept liability for any loss or damage, including but not limited to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
Accuracy of Information: The content I provide is subject to change at any time without notice and is intended solely for educational and informational purposes. While I strive for accuracy, I do not guarantee the completeness or reliability of any information. I am not responsible for any losses incurred due to reliance on any information shared through my platforms.
Government-Required Risk Disclaimer and Disclosure Statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Performance results discussed in my content are hypothetical and subject to limitations. There are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading strategy. One of the limitations of hypothetical trading results is that they do not account for real-world financial risk.
Furthermore, past performance of any trading system or strategy does not guarantee future results.
General Trading Disclaimer:
Trading in futures, forex, and other leveraged products involves substantial risk and is not appropriate for all investors.
Do not trade with money you cannot afford to lose.
I do not provide buy/sell signals, financial advice, or investment recommendations.
Any decisions you make based on my content are solely your responsibility.
By engaging with my content, including live streams, videos, educational materials, and any communication through my platforms, you acknowledge and accept that all trading decisions you make are at your own risk. BDRipTrades, BDelCiel, and Aligned & Wealthy LLC cannot and will not be held responsible for any trading losses you may incur.
As you guys can tell from my dialog, I was clearly not level headed when it came to my decision making today. I was trying to follow ICT's commentary but I was getting confused as I was also trying to interpret it with my own understanding of the current levels on my charts.
As I stated in previous videos, I was feeling lots of anxiety and emotions today because I tend to go through that after a very good trading week. I feel like it's personal confidence after a good trading week gets affected due to me striving for perfection.
We see several mistakes in this trade, I was buying at premium levels, 19,750 - 19,798.50. Till ICT commented that he would not be long here (Thanks ICT, idk what i was thinking 😂 )
I then revised my idea and saw we had traded under the Bullish fvg from 9:51am, once price trades through it that is usually one of my favorite trades to take because price tends to react very quickly to those areas.
If you're right or wrong, you will find out quickly usually.
Once price reversed, I caught a beautiful trade of over 300 points, but because it was MNQ and I had already taken several losses from forcing my trades, I needed many more points to make back the money I had lost to prior trades.
This leads to a flawed thinking of mine, I tend to target trades over 300 - 600 points..
And the problem is that often times I will be right and catch those trades, but its unrealistic of me to always expect myself to catch these trades as not every trading day will present me those price moves.
So some things I have learned today through my trading mistakes and losses:
1. Place SL above the highs when I enter a trade (the volume imbalance tapping me out made me want to cry 😢 lol) sl was hit at 10:25am.
Plan of action, be more patient with my trades and if I enter a trade, trust it fully, calculate my risk and accept the trade for what it is.
2. We failed to take profit at the 9:30am lows. It was a clean profit, inside of the 1st presented FVG. I most definitely should have taken profits there, despite my trade entry being above where price traded to and continuing lower. I most likely would've not wanted to hold through the trade or might have trailed my sl past BE causing me to get stopped out with minimal profits.
Below is the trade where we can see we could've simply risked 40 points to mave over 300.
Its better to just take the profit at the liquidity area (the lows) and then watch to see if price will continue lower or reverse for learning purposes.
There is no need to always catch 300+ moves BRUNA. Come on. Lets keep it simple.
Anyways guys, this is my attempt of analyzing my mistakes today. I am wholeheartedly in this trading journey and I wanna share all the mistakes and losses and problems with you guys in hopes that if someone is also struggling with these issues, that you might learn from my mistakes and maybe learn something from my mark ups.
If you guys enjoy this type of content I would appreciate you guys giving it a like, share with your friends. There is more to come (:
Forex, Crypto and Futures Trading Risk Disclosure:
The National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC), the regulatory agencies for the forex and futures markets in the United States, require that customers be informed about potential risks in trading these markets. If you do not fully understand the risks, please seek advice from an independent financial advisor before engaging in trading.
Trading forex and futures on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk appetite.
There is a possibility of losing some or all of your initial investment, and therefore, you should not invest money that you cannot afford to lose. Be aware of the risks associated with leveraged trading and seek professional advice if necessary.
BDRipTrades Market Opinions (also applies to BDelCiel and Aligned & Wealthy LLC):
Any opinions, news, research, analysis, prices, or other information contained in my content (including live streams, videos, and posts) are provided as general market commentary only and do not constitute investment advice. BDRipTrades, BDelCiel, and Aligned & Wealthy LLC will not accept liability for any loss or damage, including but not limited to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
Accuracy of Information: The content I provide is subject to change at any time without notice and is intended solely for educational and informational purposes. While I strive for accuracy, I do not guarantee the completeness or reliability of any information. I am not responsible for any losses incurred due to reliance on any information shared through my platforms.
Government-Required Risk Disclaimer and Disclosure Statement:
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Performance results discussed in my content are hypothetical and subject to limitations. There are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading strategy. One of the limitations of hypothetical trading results is that they do not account for real-world financial risk.
Furthermore, past performance of any trading system or strategy does not guarantee future results.
General Trading Disclaimer:
Trading in futures, forex, and other leveraged products involves substantial risk and is not appropriate for all investors.
Do not trade with money you cannot afford to lose.
I do not provide buy/sell signals, financial advice, or investment recommendations.
Any decisions you make based on my content are solely your responsibility.
By engaging with my content, including live streams, videos, educational materials, and any communication through my platforms, you acknowledge and accept that all trading decisions you make are at your own risk. BDRipTrades, BDelCiel, and Aligned & Wealthy LLC cannot and will not be held responsible for any trading losses you may incur.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.