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19 contributions to InvestCEO with Kyle Henris
Trading View Black Friday Sale!!!
For those of you that have been waiting to grab a Trading View subscription, this is the biggest deal they do every year. To answer a couple of your questions: - No you don't have to get Trading View. It's not my product so use whatever you want. - Yes it is what I use and most members will tell you it's worth it. - Personally I get the Premium plan. You only really need the Essential Plan though to have all the features. - The annual discount is the better deal. https://www.tradingview.com/gopro/?share_your_love=kdh2021
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New comment 21d ago
Trading View Black Friday Sale!!!
1 like • 23d
@Dylan Coombs cheers Dylan 👍
1 like • 22d
Thanks again @Dylan Coombs 👍
Progress vs Problem Avoidance
This is a lesson that will be crucial for many of you. There is a big, big difference between making actual progress versus putting in time and work: Progress = taking the challenging action steps necessary to make real, incremental improvements over time. Problem avoidance = putting in time that's related to your goal, but doing so in an attempt to make things easier or get to your goal faster. Here's examples of the differences... - What you do: Go through the course for a 4th time, or watch a bunch of videos on a completely different strategy hoping to discover some new revelation. (Problem avoidance) - What you should do: Create daily and weekly habits of going back through your detailed trade log to find the single biggest factor you can improve the following week. This could be your profit factor, your quantity of trades (in relation to over or under trading), or your win rate (in relation to where you're creating your plan areas). You then focus on only that thing, keeping everything else equal. Measure the result over a period of weeks. (Progress) - What you do: Increase your risk size or try to copy trade multiple evaluation accounts in an attempt to reach your income goals as fast as possible. When you get close to renewal, you take on more risk to make sure you pass or fail. (Problem avoidance) - What you should do: Focus on building a single account at a time until you have proven you're responsible in managing money like a fund manager would. This means you protect capital, make incremental gains over time, and work your way to a payout before you try to scale. You recognize that with real money you don't just "get to start over." (Progress) - What you do: Lose a trade, or a streak of trades, go on tilt, and then turn to the community to vent. Then you post screenshots of the trade asking "what you did wrong." (Problem avoidance) - What you should do: Accept that losing is a necessary and unavoidable part of the trading process. There is no right answer or solution for losing. Instead, you create daily habits around mindset and emotional control. You don't skip days working on those habits and judge your success or failure on the trade not by whether you won or lost, but by whether you did what you said you were going to do. (Progress)
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New comment 7d ago
Progress vs Problem Avoidance
4 likes • 27d
100% - as i reached the end of the month on my EA i had thoughts of taking on more risk in the short term. Thought better of it, paid the $30 renewal and have now slowly worked my account back up. As far as i remember, it was the tortoise that won the race... 🐢
EA advice
I am coming to the end of my 30 day EA, I won’t make it to $53k by the renewal date (tricky week last week 👀, learned a lot this month, different mental ball game trading live compared with paper trading in practice, it shouldn’t be but it is) My success rate is about 20%-30%. with each trading day I have done less of what doesn’t work. More of what does, managed risk better as time went on, got more comfortable with losses safe in the knowledge the market is there tomorrow for another potential win. With 2 days left on my EA, Do I: - Risk a $1,000 3:1 play tomorrow and chance hitting my profit target, converting to PA and fist pump into next month? - Be responsible. Take the learnings, keep trading, pay the $30 renewal and get over the line next month? Whats the risk appetite of the InvestCEO community?? ☺️
Poll
5 members have voted
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New comment Nov 15
2 likes • Nov 15
Thanks @Jonathan Hutchins @Kyle Henris - took both points on board. Didn't do anything stupid. Managed risk and stretched PT. One Win and one Loss this morning at 3:1, Account balance moved on up again. (actually ended up at 25:1 😂 I don't think i can call those ones yet!) They way I treat one account will be the way I treat 20 accounts so I'm going to keep going, pay another months fee and work the account to its profit goal. Good exercise in patience and risk management. Working on the long term process, may take a little longer to refine but ill let you know when i pass.
1 like • Nov 15
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Building my Trading Business
Making big strides today with our business. Just passed 5 more combines to create backups for the 5 XFAs we have with Topstep. Our current accounts have a good cushion and I've paid myself once so far from them. I think I'm on the last phase of the InvestCEO business plan! Hoping to continually grow this and pay myself multiple times a month from it. This is 100% doable! Just stick to the plan and maintain good habits and actions!
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New comment Nov 12
Building my Trading Business
3 likes • Nov 8
Nice one @Mertik Trades mee
Lessons lead to funding. 150k
Hey invest Fam! I posted a bit ago in celebrations when I passed my first 50k EA. Well… I passed another the next day, ripped some success, and then watched my wings melt as I did my best Icarus straight to crashing both… Well after a few weeks of scrutinizing review and practice, I was ready to go for the next round on Thursday with completely re-formed strategy that ended 3 accounts today where you see them in the screenshot. I’ve got so much more to learn, but here’s a couple things that I hope can turn my mistakes into your lessons. 1. Be careful of high profit targets on a $2,500 drawdown. If you’re above 3:1 in an EA, trail it before it accidentally eats 30% or more of your drawdown in one trade -no, I am not saying big ratios are bad! Increasing your reward is one of the best things and one of my biggest improvements. However, if you’re in an EA, the drawdown does not grow. Let’s say you’re risking $200 and shooting for a 5:1 ($1000 profit). Your trade pushes to 4.5 before reversing and slamming your stop. Well that 2500 drawdown was increasing with that trade. So will be down your $200 loss plus the $900 profit you had at one point. From $2500 to $1400 drawdown in one trade (plus commission if the 1400 wasn’t bad enough : P). Pretty brutal huh? On this run my average risk ratio was 6:1, but if I was above 50% of my profit target, I put in a trail-stop or trailed manually to protect my drawdown. This was pretty crucial for me. 2. Trust yourself!!! -Yes, self confidence is important, but there’s a lot of need beyond that. I have watched myself lose as much if not more from over-caution and self doubt than I have from being too aggressive. Closing trades that would have hit profit no problem, being too scared to place the better trade, then following it up with a bad setup because of fomo. It’s a messy cycle. Yes, I messed up from over aggressive trading, but that was actually a poor response from the backlash I was feeling from letting fear change my decision making process.
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New comment Nov 11
Lessons lead to funding. 150k
1 like • Nov 7
Hi @Jonathan Hutchins @Tyler Wilson - im in the middle of an EA, after a string of losses, i found this approach very helpful. I know closing out of trades before it hits profit is not advised but it has saved me on 2 occasions this week where i have banked $200 profit before price turned in the opposite direction. 👍
1 like • Nov 7
@Jonathan Hutchins nice 👌 - limiting risk size has been key over the last week to stay in play. Cheers for the response, good luck with the rest of it!
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Ivan Delahunt
4
81points to level up
@ivan-delahunt-8627

Active 20h ago
Joined May 15, 2024
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