It’s hard knowing the right trading process to follow


I had lunch with a candidate for our September training class, who asked a really good question: “How did your past in sports and law influence your path as a trader?”

Answer: Process

To become successful in the past, I needed to follow and trust the process.  To be successful as a new, developing and even experienced trader you must trust and follow the process.

Admittedly, the challenge for many in the trading community is following the right process for you.  And sometimes it’s hard to know if you are following the right process as a trader.

For example, a trader from another prop firm sat down with me recently and shared his trading journey.  I just had to ask this trader, after listening to how the firm traded and what it so obviously lacked, “Why are you still at your firm?”  The whole firm set up described to me by this visiting trader was…..sketchy. It can be hard to know at times if you are following that right process.

I shared an example of the work a consistently profitable trader is doing on the desk to reach his next level, during my lunch.  In his monthly review, here are his words on how he can reach that next level:

I spoke about this in more detail in our latest online class here (start video at 33:23) .

The trader in the monthly review above is following the right process.  He makes money.  He is trading a style that fits his personality and cognitive strengths.  He has a super mentor, role modeling for him.  He has great technology and capital available.  And an excellent trading coach to help him grow (not me).

Now he just needs to continue doubling down on process and shun judging his trading on PnL.  He needs to be patient and work on his strengths and with his team members.  The waiting can be the hardest part for a trader like him.  But that next level will come with his approach to let process drive performance.

From my seat, it’s the traders following and trusting the right process for them, who are making the most progress.

* no relevant positions



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