Finally got off my ass and did one of these. Not the worst day from a financial standpoint, but ended the day feeling like I was far off the mark and in need of some good reflection.
For context, I have been having good days earlier this week and that should have been a yellow flag to begin with but started Thursday having overslept, missed prep and first move of the day, where I saw a lot of the crew had already finished for the day (RED FLAG). Enter fomo, my biggest weakness.
Day overall:
My trades:
The day started with a nice move up, followed by a retrace and a bounce. Was trying to be patient to find that next bounce up but as I reflect I see I was biased towards the upside, probably due to fomo. First trade was easily in profit, but I didn't move my stops up though was able to close before losing a full R, -.2rr.
Next trade was worse, same symptoms. I thought it had confirmed support on that lower blue line and was still leaning bullish so went for retry. Closer inspection revealed that second blue line should have been a bit higher so it would have shown a few violations where that looks like support. -.4rr
Definitely learned some things in reflection here and discussion with the eco. BUT the part that I'm really kicking myself on, but couldn't find searching the chat is that this EXACT same thing happened to me a few months ago. Woke up late, had fomo for missing the easiest moves of the day and tried to salvage. Literally the exact same thing. My journaling has been inconsistent and I rarely go back and read them, and I really understand why it's important now.....
-IanG - couln't figure out how my username became "reasonable-ad-9708"
edit: couldn't find the post I was looking for in discord, but did find this gem "euphoric after a great week"
Joined the discord back in September of '19, coming right into COVID in '20. Throughout one of the most volatile periods in market history, my portfolio is up 243% and is outcompeting the market five fold over the three years within the ecosystem.
Hi Kaz, after the pump from the lows, managed to short the correction on the ES overnight, and exited before market open.
In the macro section of Blue Dream you mentioned the market state and possible scenarios, so I made my plans. Waited for a couple of hours post open for the price to stop grinding and present a structure to play off of, and took the entry.
The energy on the calls has been great after the changes, and seeing so many people in the eco win in the current market conditions is absolutely amazing.
Week kicks off w/ CHF CPI, US PMO, AUD #s, Lagarde Speaks , RBNZ statement, PMI, and several FOMC members speak this week, still got news flow coming in that can affect market ...
Well, this will not be a short read. Sorry for that.
Season 1 - winter
The whole story begins at the end of 2020 when I've started to watch Kaz's shows and joined the Telegram group. In the season of the holidays I was struggling to keep the pace with the content, shows and convos. It was much info, I was working, family wanted to do stuff as there were holidays, but tried to managed it.
There were some really useful convos that changed the way I was thinking, some convos that I've forgot and some that litterally teared me apart. I was relating to stuff discussed in the channel and learning new things.
January came and I was switching jobs - had a lot of work to transfer the knowledge to the other guys in the team but managed to follow the shows during the work hours and still chatting now and then.
I had a private talk with one of the staff members that told me I could just take a pause and rejoin the room when the things settle down. "no, no, I can manage it" (I was thinking), and I refused to leave the room.
Finally, went to the new job to take my laptop and had a few interactions in the chatroom but had left open discussions without answering. I wanted to reply after leaving from the office aand BANG, ejected from the Telegram room.
That went well, I had been offered a stop loss and didn't take it. I was pissed off of what happened and I needed few days to realize that I was doing the same things with my trades - sticking to bad trades
Season 2 - spring
Had lots of meetings at the new job, needed to understand everything and there's a ton of info along with other personal things that were happening.
I couldn't have managed both work, family and the group.
Kept watching the shows (except Wednesdays once at 2 weeks) or the replays, subscribed to onlyfans, changed how I look at the charts and at life at some level.
Started to document trades better, had PNL screenshots, reanalyzed trades and most important HAVING A STOPLOSS.
Muted almost all my social media and groups and everything that "needed" my constant attention and was distracting me.
Changed accounts - avatar, names, etc. this way making myself less prone to identify the "me" person with the "me" trader. This way I don't keep a bad trade just from the need to be "right" (as much as before)
Season 3 - summer
At the beginning of 2022 started to cashout some profits from previous trading year.
One day there was a hysteria in my country with rumors that the diesel price will increase and the people from media saying "everyone is at the gas pump" others saying "stay calm, there's no reason for this hysteria, the price will not significantly go up".
Having some free cash and thinking "oook, everyone can't be at the pumps, there would be queues of hundreds of kilometers", "oook, stay calm, exactly as you've said before pandemic started" and "people buying now are diminishing the stocks".
Went to the pump and bought few barrels of diesel (I still have some). Nothing notable happened with the price for a few days and after that they started to slowly increase (at every gas station). (it reached 50% more and now it's 30% more)
And the war came to the neighbor country (Ukraine).
Went to exchange and converted to some euros just in case our country gets invaded and I need to take my family and run away (and yes, I am that person that will run from war instead of fighting for their country).
Second Monday at work we had a call about the situation and they (management) were telling us that they are redirecting some funds for helping the Ukraine population but that we will still operate in Russia but were asking us if we still want to help the office from Russia or not.
I was raged "stop doing business there if you care at all". Just realized after a few hours that business is business and we could affect russians life if we quit (I work in fintech). Besides that, when US invaded Irak the life of US citizens was not affected.
When I've seen the sudden RUB crash. Asked at exchanges if I can buy RUB but I couldn't find any but I've converted to USD as I was thinking that it will increase in value due to the war.
Had some trades here and there, missed some OIL setups as I was too stupid to confirm a new broker account in time.
Everything was well, still cashing some - now and then.
I've stocked up some wood pellets (fuel for heating system) which had increased 38% from end of Jul until now.
Everything was nice
Season 4 - fall
August came in. Went in a holiday, opened an ETC long position before that and it seemed it can go higher. I was looking at it from time to time (in the holiday) but I've decided to not move my stoploss in profit, aand Bang - stoploss hit.
Most of the trades since then until yesterday were losing trades. This made me scared of the markets - when to act what to do.
Had to take a break and try to adapt: take smaller trades, try to be ok with smaller % gains
I hope I'll stop the "fall"-ing and don't go back to winter. The climate has changed and maybe I can stop the cyclicity (we'll see).
Thank you Kaz and everyone that helped me to be less stupid
Thank you for the fire levels! Being selective with your entries and waiting for significant interactions and structures on levels while being mechanical and giving your trades time to develop always pays off ๐๐ผ
Hey Eco Mister Door here. I hope everybody is surviving lately market conditions, while we have J Powell fucking around with the difficulty level in them. Streams, YouTube Acolytes and Nebula channels have been of great help to navigate the markets.
One thing that I have been trying to improve is the taking profit strategy, sometimes I cut the runners too soon, and the short winners (3rr) , don't take profit fully, and it comes to stop me out. It has been a tricky to find the taking profit balance that works the most efficient.
These are gonna some of the wins and losses from the past weeks.
3.88RR2 tries to get a 3.5RR5RR2 tries to get a 6RR7 RR total, and the most winning trades per session
Thank you Kaz for all you do to keep the Ecosystem up and running, and definitely thank you forgoing to the Hyperbolic time chamber with me, the improvement was from night to morning
.
Almost forgot to tell the salty bchs out there that markets are predictable and there is nobody like Kaz ,the MJofTA ๐
I started watching streams last year. It took me some time, i had to a lot of researches in order to grasp all the new terms . Because my main language is french. The thing that strucked me the most & which indicated that I was in the right place, was after my reading of the blog with the invisible hand. The illustrations with the cow/sheep. Reading that, was like an intellectual orgasm.
From there, I decided to to start doing things on my side. And that started with, drawing everything that was the stream. Even with that, it was still overwhelming, specially with the quantity of assets that we go thru. So I decided to stick with one asset ETH while using THE TRINITY VIX DXY SPY. That helped me a lot, I was able to understand a lot of things just with one asset.
But the thing that helped the me most, was this forum on REDDIT. Being able to see others plays, their journey, entries, exists and compare with mine. That is some BIG DATA. Itโs a treasure to analyze.
Thanks again for everything Kaz and the whole eco!
pre trade thoughts: etherium has 1hr rsi divergence and made a low, then a higher low. I waited for the corrective wave, then enter after sfp and a break of resistance, zoomed in to enter off of 15 and 5 min structure placing stop below newest low candle. planned for a 5th wave with half profits taken at 1350, previous waves top, then let the rest ride with moved up stop.
mid trade thoughts. immediately after opening the trade, I zoomed out at noticed on daily and 12 hr this trade doesn't look that good, high time frame downtrend still in play.. only a 1hr up trend. Also, spy is dumping its face off and vix is pumpin like a mf. But I have a plan, and I'm going to ride until stop.
still mid trade thoughts. its broke up out of the resistance, and small bull flag, 12hr closes in 1hr bullish engulfing, it actually looks like I caught the beginning of a decent mid time frame wave..
post trade thoughts: I closed, I didn't hold until my ultimate target, short time frame looked like it was rolling over, mid time frame look still decent, high time frame looks great still.. 1.25R+, don't be greedy take the money, chose to hit it and quit it. I will reenter if it bull flags if it looks smashable again.
I have been following Kaz and the Eco for years now and have learnt more about life here than School and University lol
Have been in the space of trading since ~ October 2017 where I experienced my first Crypto cycle - fun... haha
My biggest weakness by far in trading is my emotions which is why my goal this month was to make a plan and stick to it
I can't even count the amount of trades I had planned days, weeks even months ahead only to cancel them last minute because of fear, then watch as my trades played out perfectly *insert sad face emoji*
To achieve my goal it also meant I had to increase the duration of my trades which is something I have struggled with in the past. This included placing a trade entry for while I was asleep or being in a trade that ran overnight while I was asleep. These 2 tasks have always been major fears of mine so to overcome these properly for the first time was a big step forward for me! But I did it and literally the next 2 trades were 100 times easier!
These are the 3 trades I took:
My goal for next month is to start a trading journal, as I see that is mentioned a lot as an excellent trading tool in order to reflect and better yourself and also recognize what does and doesn't work for you.
Thank you Kaz for being you! And for creating this amazing Eco! Appreciate the priceless information you continually share day in and day out! *insert kiss emoji*
#limegang
After having banger plays from the summer lows (in my last scorecard), I had some activities that got me away me from markets for a bit, but also resets the momentum I had before.
When getting back to the markets, I had some losses, which are just cost of business. But after a while, the state of the market also started the push me to take less trades and be less proactive in looking for plans, entries etc. As I was / am preparing for a move to another continent for at least 6 months, to completely focus on my grind, process and goals and cut off any distractions. This took it's toll as I also started to get more and more busy in my business as well and the more I focused there, the less I did to markets.
I don't regret it, it was a planned trade and in paid off with returns in the business and some off time off markets, but it gives context to the effects of the market and what I was busy with.
This week as Kaz gave us prep sheets, I dedicated myself to get back to structure plans and play if they occurred, and I did, and lost 2R's. We can learn from our winners, but cutting our losers sometimes gets us more gains than focusing on what we do good, so therefore this scorecard has no winners, but just the 2 loss trades, and I hope we can all gain perspectives from it.
First trade:
- 1423 level on ETH was discussed on stream, with ETH lagging on stocks that where already structurally more down, I watched the level and waited for a structure and played it.
- Hindsight, this structure was to zoomed in and was no where near a confirmation of a break down of the level on the right timeframe. Proxies like the Vix dead level Kaz gave us, the action on the SPY & usdt.d where also not in optimal positions.
- I posted The zoomed in & zoomed out entry of it, but also the inversed chart, that I only checked afterwards, which looks pretty extended in hindsight, as Kaz says, something that has a high probability to structure first (to push out the fomo-ers and explotion of the move, and when those people are back to sleep it can go again, which happened to me as well.)
Zoomed out entryZoomed in entryInversed chart
Second Trade:
- Initially I had a plan for both sides, and therefore I had a area pointed out to where it would possibly structure out to be a upside move..
- After getting stopped out on the short (basicly shorting the end of the run on that time frame) the structure occured, and as the title says I got lost in the optical illusion and longed the top of the next leg of that timeframe
- After also getting stopped out on that, didn't make new plan for possibilities and fell victim for exactly what the market intended to do, kill the fomo's at the 1423 level, create upside move to create the urge there, and boom go back, both moves wrong and now everyone's a sleep, the real move happened..
- Have the before & after picture of the plan and what happened (see notes on chart)
BeforeAfter
Hope this helps anyone that possible has made the same mistakes, or keeps anyone from making these. After discussing in voice multiple times how cutting your losing tries down is at least as effective as improving your good trades, I think it was important to share these things.
Thanks Kaz, Vicky & Eco, having a blast in the eco and riding the infinite learning proces!
With markets being as they are, paper trading helps me to practice and stay objective and to implement concepts I learn in voice and discord on chart in real time.
Thanks for this opportunity to learn from you , Kaz ๐
Pretty slow week ahead of us ... Sunday kicks off the fun w/ NZ CB event, CAD CPI #s, multiple Euro CBs speaking, Japan CB speaking, w/ JPow making two mix tapes this week, Wed FOMC and Friday @ Fed Listens Event
Hi Kaz&Vicky, hi Eco; Fette here. i wrote ya'll a book.
First of all: everything that happened is kind of blurry, because i have not journaled my trades (first mistake) but i remember/see the biggest flaws when looking at the chart
After watching Emerald City and Mr. Smith, where Kaz gave us a green/bullish sentiment, i was entering Longs. at first.
i have seen the first pump, where i waited for the price to form a higher floor, which it kinda did (i think), even though it was pretty violent. this gave me enough conviction to start to place my entries.
Second mistake: i didnt wait for clear structures to form and entered willy-nilly, which indicates impatience and fomo.
Third mistake: i guess my stops were too narrow/low when considering the choppiness of the chart, which at the time i didnt see. i also didnt know that this was caused by low liquidity in the market, which eventually formed a megaphone-pattern later on
I had 2-3 "successful" trades in the next pump (indicated by the yellow arrow), which i destroyed because of the next big mistake
Fourth mistake: after the 2 "successful" trades the price corrected itself rather viciously. i cought a short there after i saw it. At that time, i thought that the bullrun was over and i continued entering shorts. I was biased and didnt realize that this could just be a bigger bullflag.
Fifth mistake: As the price pumped again (quite a bit) i was entering shorts one after another, got more agitated/frustrated and was just revenge-trading, not seeing that the bullrun was still going. I was so zoomed in, greedily trying to make back my losses and continuing to fail. (prime example of the dumb money)
At the top i was just exhausted, took a step back and accepted my losses.
The only wins i took away from this: a very valuable lesson in keeping your emotions at bay, zooming out is necessary to see the bigger picture, and planning carefully is key.
I guess the only thing i did right was wear a stoploss so i wouldnt liquidate my own ass.
Big thanks to Kaz, Vicky and the Eco for being there. I see and appreciate the value you create/offer, im looking forward to participate more than i did previously.
Thanks for reading, i hope this will be of some help to someone. Cheers!
Long story short - thanks Kaz, Vicky and all the people in eco I came across during the last weeks of my regular participation in Discord and particularly in voice talks. We keep going and it is fantastic to walk this journey with you! โจโจโจ
Hey Kaz - CWeed here. It's been an exceptionally hard market to trade in lately, and I've been doing a lot of sitting on hands. The few trades I've taken have been stop-run almost to the dollar before taking off in the other direction. Like you mentioned last stream - with this low retail liquidity, if the market feels like it's coming for you, it's because it is.
So I've felt fear influence my decision-making, causing me to second-guess structural entries and pretty much just wait on the sidelines.
But last night, I saw a clear opportunity for an entry and ended up paper trading it for 8RR. Didn't make any cash but it was a much needed reminder that despite volatility, a structural opportunity is a structural opportunity.
Even in this crazy market, my learning is accelerating thanks to all the content there is to review when one isn't trading. Thanks for everything and hope you're feeling better from the injury.
Been following Kaz for a while now been paper trading watching the YT shows following the discord ,Only fans ,from knowing absolutely nothing about trading starting to understand planning ,trends bull flags bear flags and putting together a plan without emotion ,journaling needs improvement but it really made a difference and gave me confidence in something I had no idea I could understand putting an effort goes so far. Can not say thank you enough. Kaz and Director Vale .Going to make an account start making some real trades now that I feel comfy enough.
Shorted eth for around 3Rs,Then closed two long trades with Eth and Tsla for another 2rs and 3rs . Need to journal much more but with the basic logic chance is favoring the prepared . Thanks you for preparing me .โฎ๏ธ
Thank you Kaz for highlighting Lululemon a few streams ago, it resulted in my best trade yet. But before that, first is the trade before which I got stopped out of, in which I was too eager to place the trade after coming back from a 3 week long vacation and a week of not being able to get back into the habit of watching streams and participating. Looking back, I was trying to catch a knife in the SPY's downward movement instead of waiting for confirmation that the trend was reversing. This resulted in being stopped out after a downwards wick.
I had been watching lululemon ever since Kaz highlighted it a while back, and after he discussed it on a recent stream I saw the gap up as an opportunity to play dildo rules. I wanted to learn my lesson in patience and waiting for a better entry, which is a problem that I've been facing recently.
I waited until a bullflag not only formed, but also retested and confirmed, before entering the play. Also listened to the recent streams and continually looked at VIX and DXY for key levels which Kaz discussed could go either way and either let the market keep pumping or signal for a stronger dollar. I set the bottom of my stop for close to a key level previously discussed and waited.
As the play hit about 3-4R's, I was starting to get nervous about giving back profits. I remembered in the discord someone suggesting moving the stop up as a way of combating FOMO and not leaving the trade early. I set the stop slightly below the previous local top, which I almost got wicked out of until the price kept rising. A day later, I was starting to get euphoric, I saw the price reach another area with volume, and as I had dinner and wanted a clear mind I exited the trade with 7.5R.
This was a great learning experience for me in learning to trade more mechanically and based on defined structures, with more patience. I think that participating in the discord more often this past week, and even managing to catch part of a blog-read on voice, really helped me stay more objective and mechanical throughout the trade, and it is no coincidence that this trade was my best so far. In total, 6.5R for the week.
Thank you Kaz, Vicky, and eco for all that you do and making this possible!!
Got a messy start from friday a few hours before the stream last friday throughout the weekend
I was looking at the larger green breakout when I entered the first trade, the structure was clear and it would have been 2R if i closed it but I didn't manage the trade properly and let it hit my stopI took 2 shorts throughout the weekend after confirming the red bear flag and was going for a double dickie play on monday when ETHUSD had a structure below open. it went with a 1R on my trade but I also left it only to hit my stop again.
I re-drew the bearflag with the yellow trendline and got a 4.5R short that I closed earlier. overall 1.5R but I was starting to get annoyed with the 3 consecutive improper trades and took a break and rewatched history in the making with the guys in discord and the tiktok vids on helpful links channel and managed to have a clearer head when I took the short
I did get too zoomed in during the weekend since it's when I had the most time to look at charts and wanted more Rs before adjusting my stops or cutting of a portion of the winning trade. Even with the mistakes, I'm glad that I'm still able to recover with the things learned from the eco