Emmitt Smith shares his trading journey and the importance of consistency in trading. He discusses the evolution of his trading strategies, including learning supply and demand. He emphasizes the significance of risk-to-reward ratio and trade management.
Emmitt shares his insights on conquering emotional challenges and staying consistent in trading. He emphasizes the importance of sticking to a trading plan and understanding market trends. Emmitt also discusses his experience with prop firms and the lessons he learned from his first payout. He recommends mastering trend analysis and journaling trades as key aspects of trading.
Additionally, he shares his exit and trade management strategies and offers advice for traders to be realistic and patient in their journey.
Podcast Interview
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Interview Link
YouTube – @emmitt.trades
Instagram – @emmitt.trades
Emmitt’s Trading Strategy
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Key Lessons
[10:22] If you can’t maintain a 70-80% win rate over the course of a month, you’re potentially not going to be in profit.
[17:16] If you’re going through a losing pattern, but you have data from the past understanding that this strategy is profitable, the worst thing you can possibly do is, again, jump off that ladder, remove that strategy and move towards something else instead of understanding the reason why you went through that lose streak.
[43:25] One payout doesn’t mean anything at all even though you feel like you’re on top of the world.
[46:39] Don’t go blowing through all your money to try to become a millionaire in two days.
[46:50] If you treat trading like a business, you will get rewarded like it’s a business.
[48:24] If you understand where the markets are going in higher timeframes, more often than not, even if you don’t fully have down entry tactics, you’re going to be correct.
[52:16] Don’t fill your head with everything you see on Instagram and begin to have a frustration towards yourself because you’re not there.
[52:27] Take your time. This is your journey. This is your money. This is your investment and tailor it to work for yourself.
