How I became a profitable trader part 3

️⃣9️⃣ Most traders who say that trading is mostly psychology than technical analysis. They are either gamblers (uncalculated high risk), are lazy (which may affect even their backtests) or don’t have consistent profitability yet.

3️⃣0️⃣ According to Huddleston, many smart traders and my opinion – In most cases people using old retail trading methods used by most traders (who lose money) like Support and resistance, Supply and demand, Wyckoff, some Fibonacci retracements, Depth Of Market DOM (which can be spoofed – research – institutions don’t want you to know where their orders are), Trend lines, Volume profile, Indicator strategies for trade entries and Old candlestick patterns in the candlestick Bible book. Unless if someone does the opposite of them or in a few cases combines them with some good concepts. The market makers made the price algorithm to go against these methods in this point. The strategis do low winrates and you can’t guarantee getting high reward to risk ratio on low winrates (like the people using them claim) because momentum will be against you, hence the low winrate. Unless if you’re still stubborn enough to at least accept some showing a 2, but but hopefully 3 year + profitable trade history using them.

3️⃣1️⃣ Using AI LLMs available to the public for strategies or trade signals. The CEOs of the companies will program them to only give profitable predictions to themselves, and not bring competition to their trading. Most if not all of the companies are controlled by the illuminati anyway, so would probably be threatened not to make everyone profitable, aside from good trading basics. The only way you could use AI to its full potential is if you can make your own.

3️⃣2️⃣ Scammers who show fake profitable trade histories on a computer browser, by changing figures that appear on a screen using Inspect element browser extensions. Though most people say refreshing the website page resets the modifications, there are now permanent change extensions available as I’ve heard. This is not possible with cellphones and also not on the trading platforms (eg. Metatrader, C trader or tradingview etc), making both options safer for viewers. You can research on this if you want, it’s not too complicated.

3️⃣3️⃣ Scammers in some corrupt countries bribing to get licenses to teach trading. Even though these government agencies check for profitability by law, make sure you do your own investigation.

3️⃣4️⃣ Scammers paying people who do interviews on YouTube etc to market them as a profitable mentor without proof

To help you understand the trading terms in this post you can consider other mentors not using ICT, who I mentioned earlier and Charlie Burton (licensed but with low winrate strategies) or anyone on the world trading competitions website (I annual competitions, not quarter).

Though those of the competitions have lesser credibility due to higher risk trading (cause of egos) and no trade winrate transparency. Ict doesn’t teach trading basics to help you understand my post

Remember that studies said 97% of daytrades don’t make money consistently. Scammers (mentors/signal providers without trade history proof of profitability) are the main problem in our trading industry (and other online businesses).

Any profitable mentor will use their best form of trade history to their advantage to sell their course, like any other businessman. Another small percentage of mentors aren’t scamming on purpose but never had proper mentorship and are under the dunning Krueger effect (don’t know what they don’t know).

Meet you on the Robbins world trading competitions top 5 leader board end of next year above Larry’s mark, for some of you who trade ICT. I would appreciate an intriguing and worthwhile challenge. Be prepared to show your drawdown and average risk percentage per trade, as I will. It’s about time that an Ict student smashes Larry’s record.

Don’t forget to consider the risk of black swan events on Ecn or Stp accounts without negative balance protection for those on Robbins competition. I risk lower to reduce risk. I will have capital from my B book trading of this year and next year to use in the extreme unlikely even that I’ll owe the broker money.

I also don’t trade commodities which are affected more with real supply and demand in life. They and have the biggest black swan event recorded in history of -300% in oil (versus a maximum of -20% of asset price in forex – USDCHF).

To further mitigate risk of black swan events without negative balance protection I also take only sell trades in all my financial instrument (not synthetic indexes) trading. Most black swan events (rare violent manipulations) are crashes sells and not buys (research on it, AI being faster). I’ll also only have 1 open trade at a time to reduce risk in case a black swan happens against my favor.

Black swan events have increased the past few years probably as market maker’s response to increase in profitable traders. Huddleston confirmed they shall increase a few years ago.

Some brokers are now removing negative balance protection (you not losing more than all your a capital if price rarely moves in an instant too much against your trade) on Ecn and Stp accounts.

For the rest of rest of the traders research even on AIs how you can use your trading profit’s verified broker statements and tax returns to get working visas to live in better countries, like other traders doing in Dubai etc.

Government required disclaimer :

I’m not a financial advisor. This post is not financial advice but my opinion, experience and observations on the markets studying with ICT concepts. Past performance is not a guarantee of future performance. Forex, CFDs, binary options and futures are risky types of investments and are not suitable for all types of investors. You may be at risk of losing all your trading capital, or more with brokers/accounts without negative balance protection.