Which hurts more?💔 Missing the entry😮‍💨 Selling too early ...

Trading Foundations - Trading involves creating rules and strategies to filter market data and generate profit over time [6] - Success in trading is not about being right, but about managing risk and reward, with win rates as low as 36% being profitable [7] - Traders analyze market data to identify areas where price is likely to change direction, aiming to make 5x the risked amount [7][8] - Key tools for day trading include Trading View for charting and analysis, brokers like Blowfin or Bybit for crypto, Topstep for stocks/futures, and a trade journal for data input [13][14] Technical Analysis - Identifying trends using trend lines helps determine potential areas for price reversals [27][28] - Fibonacci retracements (236%, 382%, 50%, 618%, and 786%) are used to find key levels for potential price reactions [31][32] - Fair Value Gaps, identified by gaps between candle wicks, indicate high-impact zones for potential entries [37][38] - Trend-based Fibonacci extensions, combined with five-wave patterns, can help predict the tops of trends [41][43] Trading Psychology and Risk Management - Trading success relies heavily on mindset, understanding that being wrong on a trade doesn't make it bad [45][47] - Risk management involves setting stop-losses and calculating position sizes to maintain a fixed risk factor, such as risking $100 per trade [51][52] - Even with a low winning percentage (e g 30%), profitability is possible by allowing profits to run and maintaining a good risk-reward ratio (e g 36%R average win) [59][60] Strategy Building and Testing - Building a trading plan involves observing patterns, creating a rule book with entry criteria, and testing in a simulated environment [67][68] - Backtesting using bar replay mode on Trading View and a trade journal helps quantify the strategy's winning percentage and average win/loss [70][71] - Paper trading on an exchange with demo funds allows for real-time execution in a simulated environment before risking actual capital [78][79]

Friday was brutal.I know I covered a bunch of this stuff on stream and videos over the weekend but I wanted to put a few things down in writing.First things first: take care of yourselves.If your head is fucked up, it might make sense to take some time before getting back in the saddle.That being said, you have to get back on the horse but do so with the right mindset.This is a lonely profession, so take the time to try to clear your mind and check in with your trading friends.I know a thing or two about ge ...

RT Breakout (@breakoutprop)Don’t revenge trade.You can’t change the past.But you’re in control of your actions now.Remove your portfolio all-time high and your losses from your mind.Focus on what you can do today, not what you should’ve done days ago.Losers punish themselves with their past mistakes.Winners focus on the present and the future. ...

Missing an obvious (in hindsight) trade will make anyone frustrated for a moment.Fixating on the frustration is where it becomes a problem.Staying upset about missing an “obvious” one means you’ve lost confidence in your own ability to find the next one. ...

Trading Psychology - Trading success is heavily influenced by mental fortitude, accounting for 90% [1] - Emotional control is crucial, as emotions can override the importance of technical analysis (charts) [1]

Risk Management - Mastering risk management is crucial for scaling trading operations [1] - The perceived impact of a 2% gain varies significantly based on the capital base, highlighting the psychological aspect of risk management in trading (2% on $5K vs 2% on $100K) [1] Trading Platform - RT Breakout provides capital to traders [1] - Traders are responsible for managing risk and leveraging their edge [1]

Prop Trading Mindset - Prop trading firms emphasize consistent performance over high-risk, high-reward strategies [1] - The evaluation phase is viewed as an audition to demonstrate emotional control and adherence to a trading plan [1] - The goal is to remain solvent and demonstrate competence to gain credibility within the firm [1] Risk Management - Avoid excessive risk-taking ("swinging for a home run") during the evaluation [1] - Focus on long-term sustainability rather than short-term gains [1]