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Traders with 5-10 years of experience but still not profitable
May I respectfully suggest not being so skeptical? While I have no firsthand knowledge of scrying, I am pretty sure it is the most plausible explanation for the success of Bezos and Musk j/k
Have you tried a slower timeframe ?
For example let's say you've been trying on a 1 minute chart , without success , try a 5 minute chart , you will have more time.
Also try something much simpler , maybe 1 price action setup , and trade that only.
I definitely agree with you on 2 and 3. And this is where I am at now.
I am stuck between 3 minutes bars and 24 Range bars when I trade the futures markets manually. I know the style of trading I will do. I know my risk and reward and I know myself and I know exactly what I am looking for and what I want to do.
Just can not make decision between trading with 3 minutes bars and 24 Range bars.
Once I pick one. I swear, I am NOT changing nothing else ever.
No one can pick the chart for you. Only *you* can decide which one (or ones) you need to use with *YOUR* strategy. You do that by paper trading or trading very small positions that won't hurt your wallet any more than you can afford to lose, until you have collected enough data to make that decision. Just pick the one that performs best. Have you backtested your strategy? Have you forward tested it?
Do you mind if I ask what are realistic returns? What kind of cash are you pulling in? I don't want to become some loser that spends 10 years of his life in his Mom's basement trying to figure this out, only to make a few thousand dollars a month. It's either world changing money or I'm going to do something else.
This entire trading thing is littered with so much false information I don't even know what to believe anymore. How are you supposed to learn this stuff if everything out there you have to be skeptical about? It doesn't help that everyone talks about 'risk management' and 'psychology', but from personal experience it isn't hard to set a R/R or a stop loss or worry about emotions. Either you can discipline yourself or you can't. I'd much rather have stellar ideas that generate returns and worry about the R/R and Risk Management as needed because right now I can set stops and be disciplined but I have no ideas on how to actually make a profit and predict where the market is likely to head.
Don't let this guy kid you. RRR is so little to the trading process it's almost laughable. Having a solid idea of where the market is headed is 90% of trading. The other 10% is setting proper risk parameters. You can enter a trade at a suboptimal time but still make money if you guessed the direction right and it's heading in your favor. Setting a perfect entry with a good stop loss and proper RRR will only get you so far if the market moves 4 ticks in your favor and then reverses for another 50.
The trading educators will sell you on BS like trading "psychology" and "risk management" and sell that as if it were the holy grail to profitability when what they should be doing is training you on how to actually predict market moves and how/when to trade. If you notice there are very little idea generation courses and it's all about the basic shit that a monkey could figure out.
If it were easy everyone would be doing it... then the market would adapt until it wasn't easy anymore. There's no shortcut, no holy grail and no substitute for just sitting and watching the price and the volume and whatever indicators "speak" to you. If you find that you can't sit in front of a computer screen and just watch the little bars get big and then get small, for months on end and still find it exciting, then you're going to have a tough time of it. All those gurus, if they were that good in predicting the direction of the market and making profit, they wouldn't be selling you books and courses or spending copious hours making videos.
Then there is the very real practice of well-known successful people doing interviews and saying there's no time like the present to buy Bitcoin. Then, while everyone frenzy buys bitcoin, that "expert" is secretly selling. Warren Buffet says, "If you're sitting at a poker table and you don't know who the sucker is, it's you!" Looking for someone to teach you to trade the market properly from a book or a video course is about as likely as someone teaching you brain surgery by the same method.
The market is just an auction. Nothing more. Nothing less. If you want to be a trader, imagine that you want to learn to trade cars by going to auction and buying them to sell for profit. If you have a love for cars, pick something else. I really have no innate love for the S&P 500, but the process of trading is the draw. So whatever hypothetical auction you use in the mental exercise I just suggested, pick something you have no particular affinity for. Now, no one can teach you the value of things. You learn by doing, making mistakes, making fewer mistakes and if you're lucky, occasionally picking up a useful tip here and there from someone willing to share their experience. Even the profiteering gurus can teach you a thing or two... occasionally.
If you're in a rush and don't want to put in the time at the auction I don't know what else to say. If you're in it primarily for the profit and not the process, then yeah.... there aren't any successful traders.
j/k 
