Query: "SMC"

Summary:

Sole 100% Trader:

• The sole 100% plus other conditions totaling above 60% qualifies for SMC-S which means homebound in certain cases where individuals still can work.

SMC Overview:

• SMC (Special Monthly Compensation) is automatically granted based on VA disability service connections and percentages.
• There are various types of SMC that are automatically granted based on eligibility criteria.

SMC Pros and Cons:

• Pros:

  • Helps visualize supply and demand, support, and resistance in trading.
  • Incorporating volume profile could significantly magnify returns and winning rate.
  • Effective when one understands and executes trading concepts properly.

• Cons:

  • Complexity: It can be seen as complex with many indicators and concepts involved.
  • Market Conditions: It may not work effectively in all market conditions.
  • Risk: Over-reliance on the strategy and lack of risk management can potentially lead to losses.

SMC Concepts and Learning:

• Important Concepts:
  • Liquidity, fair value gaps, premium/discount, identifying major swing sequences, and order blocks.
• Learning Approach:
  • Start with basic concepts, take notes from reliable sources such as TTrades, Arjo's channel, DodgysDD, and CasperSMC.

Trading Tips:

• Advice:
  • Stick with what works best for you, rather than switching strategies based on others' opinions.
  • Developing a solid trading system, unique strategies, and maintaining discipline is crucial.
  • Focus on essentials like supply and demand zones, swing highs/lows, market momentum, rotation length, and correlations between assets.

SMC Critics:

• There are varied opinions on SMC, with some finding it effective when applied correctly, while others critique it as unnecessarily complex or repackaged support and resistance concepts.
• Profitability in trading often depends on the individual's understanding, discipline, and ability to adapt strategies to their unique style and market conditions.

Ultimately, success in trading, including using strategies like SMC, depends on a mix of knowledge, experience, risk management, and psychological readiness.