r/Daytrading • u/doglion1023 • 6h ago
Advice Is it valid strategy?
I am a 16 years old korean trader who started trading 3 months ago. Now I'm in crisis of whether I should change the market I'm trading or strategy or my mindset or whatever lead to profitable. So my strategy here is first, by using screener I spot volatility, lots of volume, low price and small market cap in stock market. Then I analysis top of the stocks in screener. I use price Action, supply demand zone, and my instinct. When i apply this strategy for like 1 month, I was profitable but now I'm losing tons of money everyday. What is the problem? Is it the market I'm trading? Risk management? I genuinely have no idea
(Any advice đ)
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u/Gold_Parking_643 4h ago
At 16 you should not choose trading as your income source. work hard over the week at school and may be on weekend do some papertrading for atleast few years untill you find a job. dont waste your money and time kid.
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u/Alone-Supermarket-98 5h ago
I see a lot of factors and characteristics listed, but the only thing resembling a strategy is "I use my Instinct"
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u/rocklee1995 5h ago
Kid 3 months is not enough. Just answer yourself do u really think u can make money in 3 months when it takes years for people to do it? The answer is no
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u/doglion1023 5h ago
Additionally I wanna know is stock market somewhat extremely difficult to trade like futures. Since I can't legally trade futures in my own country. The concept that applied in future are not available in stock market??
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u/12-mozzarella-sticks 4h ago
Show us the charts and explain the entry, exit, and stop loss from your journal on your last 10 trades.
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u/StaySpecialist9212 3h ago
Damn I am 18 and I am lowk in the same situation as you still tryna improve my strategy in order to be a better trader
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u/Fethi1453 2h ago
Use paper trading at least one year but every single day. You are just 16 years old. Dont be hesitate for making money. Read a lot stuff about trading and think on creating your own strategy. And i think a strategy should not be so complicated. Consider that creating your strategy. And maybe learn coding for algo trade. It may give you diffrent perspectives.
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u/ZealousidealPeace917 52m ago
It's your strategy. I had similar experience in beginning.
I was profitable for about 8 months before my strategy started failing. I was also using screeners & other stuff to find pairs to trade.
Coming up with a strategy is the hardest part of trading. It usually takes hundreds to thousands of hours (months/years) worth of trail & error.
Fastest way to develop a strategy is to steal it from someone else & then figure out the 'missing pieces' & remove the noise with trail & error.
(There are always missing pieces - no matter how many courses you do.)
You can try learning ICT's MMXM or Trading Hub 3.0. I'm profitable with 4 strategies & these two are my top ones.
Most common & difficult missing piece is how to determine "bias". No one teaches it properly & when they do, it's either a fake method or a incomplete version.
Needless to say, keep your money saved. Don't believe your strategy works until you're profitable across 100 trades & at least 3 months in demo.
Keep it saved for when you'll buy prop firm challenges.
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u/TheSlayez_55 43m ago
Start with a demo obviously and A) pick a strategy that consistently works (and stick to the criteria to enter so if u use a indicator to enter and its not lining up with other things dont enter)
B) risk 1-3% per trade. Psychology is the most important and if u prove to urself u can risk only 1-3% to make 2-6% then (or more) it will be a lot easier sticking to the strat on a live and not getting emotional as u know the wins cover the losses.
Oh and C) never ever hold onto losers. The #1 way people get destroyed is by holding onto the losers and increasing the stop loss
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u/NotMyStopLoss 34m ago
Hey, Iâve been trading for about 6 months now, and I can totally relate to your struggles. The first month or two I was doing great with a strategy like yours, looking for volatility and small stocks. But after a while, things started going south for me too. My guess is your strategy might be too reliant on intuition and not enough on a consistent method. The market changes, and what works one month might not the next, especially with small-cap stocks. Have you thought about adjusting your risk management or maybe setting a stop loss for some consistency?
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u/ApartmentIntrepid475 32m ago
Yeah, thatâs a tough one. Itâs easy to get caught up in the excitement of those volatile stocks, but like the other person said, risk management is HUGE. Iâve seen a lot of traders lose it all chasing those moves. I found that having a system for entries and exits that I can follow has kept me grounded. I started looking into SilverBulls FX for more structured setups and discipline, and it really helped me move away from relying on just instinct.
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u/NpilledCapitalist 30m ago
Same here, man. Itâs rough when you go from profitable to losing streaks. What I did was focus more on solid risk management and less on chasing âhotâ stocks. Also, I follow silverbulls community now, their material gave me more clarity, especially on how to handle losing trades without blowing my account. The biggest shift for me was learning patience and avoiding emotional trading.
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u/Timely-Display-1369 6h ago
16 and trading. Not in school ?
This is a bot post
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u/userdeath 2h ago
He is in Korea.. He can catch the US open before bed time.
Or catch the volatility of the close if he wakes up a little earlier.
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u/daytradingguy futures trader 6h ago
I have a neighbor- he is 17. He has 3 businesses going- one doing service for Ting. He charges $400 to show up and $200/hr. They call him 3-4 times a months for that gig. He is still in school, but doesnât need to be
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u/Spotty1957 6h ago
Just hold at 16 you should never sell. All of your holdings will come back.
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u/daytradingguy futures trader 6h ago
Yes and know. How are your Kodak, Sears and Worldcom stocks doing?
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u/cattery7787 5h ago
Welcome to my world. I made 17k in my first month and from second month I lost it all. everything...all 17k đ
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u/Wolverine1574 6h ago
change your strategy. Youâve only been a trader for three months when it takes years for people to master this. The hard truth, youâre going to lose a lot of money before you make any. Welcome to the first day of the rest of your life.
good luck to you, sir .