SOCOM
Elite Member
- Jul 21, 2010
- 4,302
- 3,273
Gotta add some additional social media code to your trading bots LOL.
[Journey] Going all-in with trading - Index Futures + Crypto + Prop Firms
- Thread starter INCC
- Start date
Gotta add some additional social media code to your trading bots LOL.
- Feb 12, 2018
- 5,095
- 6,549
I don't trade with bots, but I know there are tons of them built just to monitor and act on Trump's ramblings.
- Feb 12, 2018
- 5,095
- 6,549
Not possible.
I am a prop trader, meaning I use funded accounts provided by proprietary trading firms, and they don't offer options trading (to my knowledge). There are only futures and CFD firms.
There are definitely certain aspects of it that I must master, like options expiring, among other things, as that can directly impact my trading, but I will always be a day trader. Options flow is too complicated to add on top of my order flow learning stack right now.
Rufai
Supreme Member
- May 23, 2020
- 1,371
- 1,189
Edit: I'll also add The Candlestick Bible. A must have for every trader.
Many traders fail not because of their setup, but because of their trading psychology. I see that you have many books on technical analysis, but not many on trading psychology. One book I highly recommend is Trading in the Zone by Mark Douglas.
I also suggest that you stick to one or two trading pairs or instruments, do a lot of backtesting, master those instruments, set a maximum number of trades per day, and, more importantly, stick to your plan, as this is very important in trading.
Good luck with your journey, and I wish you all the best.
Last edited:
- Feb 12, 2018
- 5,095
- 6,549
I do have it and some other books from him.
The thing with these books is that you need to read them many times, once a month or so, because you keep forgetting. Some things you need to experience first before you understand what he is talking about.
Thanks mate!
destroi
Regular Member
- Sep 21, 2012
- 270
- 113
I agree, trying to trade everything at once is the best way to lose quickly.
- Feb 12, 2018
- 5,095
- 6,549
Thanks!
I don't think you have much time holding that short, to be honest.
Going into September will be dangerous, but August is usually a poor-performing month for crypto, so you likely have another couple of weeks of safe sailing.
- Feb 12, 2018
- 5,095
- 6,549
I have officially lost my FTMO account.
Yesterday was one of the biggest short liquidations in BTC history - around $1 billion of shorts got taken out.
I was positioned in the wrong direction; had I followed and adhered to my own rules, this wouldn't have happened. I was so convinced the market was nuking that I kept adding to losers and adjusting my stop-losses. When the fire broke out, I thought this would retrace, and I could at least get back the majority of my account... that never happened, and it took me out completely.
While this historic liquidation event couldn't have been predicted, the simple rules I set for myself could have easily prevented this:
1. Never move stops
2. Never add to losers
3. Max daily loss of $400
I will get a new account next week. We live and learn.
The wick to the upside is so big that I need to open a daily chart to show you:
Yesterday was one of the biggest short liquidations in BTC history - around $1 billion of shorts got taken out.
I was positioned in the wrong direction; had I followed and adhered to my own rules, this wouldn't have happened. I was so convinced the market was nuking that I kept adding to losers and adjusting my stop-losses. When the fire broke out, I thought this would retrace, and I could at least get back the majority of my account... that never happened, and it took me out completely.
While this historic liquidation event couldn't have been predicted, the simple rules I set for myself could have easily prevented this:
1. Never move stops
2. Never add to losers
3. Max daily loss of $400
I will get a new account next week. We live and learn.
The wick to the upside is so big that I need to open a daily chart to show you:
share4win
Supreme Member
- Jan 2, 2014
- 1,261
- 459
Sorry to hear that, being in the game is more important than earning big $$$, especially on prop firms. I leanrt this hard lesson after blown more than 5 accounts and moving very slowly with strict stop losses. Keep moving and good luck.
- Jul 13, 2024
- 2,122
- 5,980
My ETH position liquidation price was $2400, it was not reached but it was enough for me to close it and move the money to a safer place (a sportsbook to recover the losses and hopefully put it back on Kraken soon, lol)
Today was brutal, next months will also be risky, good luck with the new account
Today was brutal, next months will also be risky, good luck with the new account
Jackreach3r
Registered Member
- Jun 11, 2026
- 54
- 9
I’ve done the whole crypto trading thing.
The best you can realistically hope for is maybe 10% a year, and even that isn’t guaranteed. Meanwhile BTC itself can easily outperform that, so why go through all the stress of trading just to possibly make less than simply holding?
The bigger problem is we don’t have enough signals to make good decisions. Whales and insiders often know what’s happening before it reaches the news media. By the time the average trader hears the news, the whales already made their trades and most of the move is over.
That’s why I stopped caring about trading strategies. You’re always reacting late with less information.
just holding BTC makes more sense.
The best you can realistically hope for is maybe 10% a year, and even that isn’t guaranteed. Meanwhile BTC itself can easily outperform that, so why go through all the stress of trading just to possibly make less than simply holding?
The bigger problem is we don’t have enough signals to make good decisions. Whales and insiders often know what’s happening before it reaches the news media. By the time the average trader hears the news, the whales already made their trades and most of the move is over.
That’s why I stopped caring about trading strategies. You’re always reacting late with less information.
just holding BTC makes more sense.
- Feb 12, 2018
- 5,095
- 6,549
I am not planning to trade just crypto. I am focusing on getting good at one thing instead of trading all markets and instruments at once.
10% per year makes no sense at all.
That means in 1 year, you couldn't even pass the FTMO evaluation, since the requirement is 10% in phase 1 and 5% in phase 2. There are a plethora of traders who make 5-6% per month.
Because of the capital requirement?
To make anything meaningful, I would need to invest hundreds of thousands of dollars in upfront capital and wait a couple of years for BTC x 3 - this isn't a possibility for me.
The alternative is to have 4-5 x $100k funded accounts, making that 5% per month, which is about $20-$25k per month.. or around $300k per year.
This obviously requires skills, practice, and years of experience, but this is exactly what I am trying to achieve here. If you read my opening post:
Heavy autism is on my side, so technically not average.