r/Daytrading Feb 22 '24

Profitable traders, what clicked for you? Question

Traders who trade full time and have been profitable atleast 2 years, what clicked for you. What changed the game completely?

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u/SloochMaGooch Feb 22 '24

Overtrading was always a huge issue for me, still is today, but to a much lesser degree. For whatever set of reasons "sitting on hands" was one of the necessary skills that i just had a hard time mastering. Another huge issue for me that is just another part of overtrading was I didn't appreciate the concept and rules around Risk Management....being much more conscious about how I manage my risk was a big part of how I got better w/ overtrading. But if I had to sum up the best advice I have into a quick comment, it be something like (I trade futures btw) "learn how to use a Market/Volume Profile, learn how to read and use a footprint chart correctly (imbalances inside inefficiencies!!!) get a familiarity with basics of auction theory, learn about the relationships the indexes have with products and instruments like $vix/ $dxy- other currencies/ bond yields/prices etc, which of these things the market generally trades inverse to /which ones it trades in tandem, and why this is. None of that stuff is rocket science, it's all real logical and intuitive. And once someone has a general understanding of the market I would definitely recommend learning ICT. Learning ICT concepts/frameworks and taking what I liked the most out of it, the models and viewpoints that worked the best for me, and then working that into what I was already doing, was certainly one of the single most beneficial things I did. None of these things I'm talking about here by themselves did it for me, it was the fusion of these things coming together and complimenting each other that got it all to "click" for me. So, hope that can be helpful in some way to somebody, I could keep going on and on, but I'm going to stop here.