Posts Tagged ‘ trading mentor ’

A Trader’s Definition of Hell

Jan 11th, 2017 | By | Category: Futures, General Comments, SMB Fundamentals, Trader Development, Trading Lesson, Trading Psychology
What would a trader's definition of hell be? I say it's the following: On your last day on earth, the trader you became will meet the trader you could have become. Scary to think about isn't it? I have two ways of avoiding "trader hell" that I'll share with you. Focus on process. I can guarantee you that if you spend your days toiling in the need to be right, make money, "win", or get revenge - you will end up in trader hell. What separates many elite performers, in nearly all elite-performance fields, is a strong commitment to process. It's not about the scoreboard, it's not about what happened on your last trade, it's Read more [...]


3 ideas to improve waiting for your trades

Jan 1st, 2017 | By | Category: General Comments
Yesterday I wrote about the #1 trading frustration of top traders on our prop desk. (#1 issue top traders want to fix in 2017 on our prop desk.) Today let's offer 3 ideas to solve this frustration: 1. Journal your progress on waiting for setups.  When are you successful waiting for setups? When are you early to enter and why? Patterns will emerge, when you are tracking this specific goal.  A better understanding from tracked data on this issue will help you improve. For example, many traders are too aggressive trading on Mondays.  They are so hyped up to show the market how they will improve on Monday that they Read more [...]


#1 issue top traders want to fix in 2017 on our prop desk

Dec 31st, 2016 | By | Category: General Comments
It's the end of the year, and time for trading business plans for 2017 from the traders on our desk. When viewing the trading plans of our best traders the issue that repeats the most to fix in 2017 is........ Waiting for the setup! These are highly profitable traders, and even some seven-figure traders. These are experienced traders who have shown a history of success and consistency of edge in different market environments. Repeatedly the issue most top traders on our desk struggle with is forcing trades. There can be a fine line in some cases from seeing the trade then putting on size and forcing the trade. Read more [...]


Win the Trading Day!

Dec 17th, 2016 | By | Category: General Comments
This is part 3 of our trader survey that breaks down the results from our trading community. You will be amazed at what you learn about the challenges and successes that traders in our community are having. Read more [...]


Solutions to develop a more consistent trading process

Dec 16th, 2016 | By | Category: General Comments
This is part 2 of our trader survey that breaks down the results from our trading community. You will be amazed at what you learn about the challenges and successes that traders in our community are having. Read more [...]


The results from our SMB trading community survey (Part I)

Dec 15th, 2016 | By | Category: General Comments
This is part 1 of our trader survey that breaks down the results from our trading community. You will be amazed at what you learn about the challenges and successes that traders in our community are having. Read more [...]


Why did I make this trade ($MGM)?

Dec 13th, 2016 | By | Category: General Comments
I made a trade in MGM today, and instantly self-talked: "Uhm, why I am in this trade?" It was not a trade that I trade well. It is not a trade that fits my personality. It is not a trade that extenuates my strengths. Why? Why? Why? We make progress as traders when we stop making trades that do not work for us. In this case, it was so tempting to lay some risk into the gamers as they were reacting well and there was a substantial news catalyst behind the idea (see below). Here is the trade I made: The saving grace was that I did not trade the idea with size, and my stop was uber tight. But the whole Read more [...]


Two ways to make more in OPHT

Dec 12th, 2016 | By | Category: General Comments
I gave a Junior Trader a hard time in our review after the close for not holding a winner longer.  In all fairness, I should do the same for my trading.  There are two areas where I could have traded OPHT better, consistent with trading that makes sense to me. I like trading stocks like OPHT.  They had horrible news in a very important drug for them (see below).  This breeds a LOD opportunity for my trading system. The intraday chart pattern set up very nicely, with OPHT unable to trade below 5.85, nor above 6.10. I made some money trading OPHT today.  But I need to do two things better when trading such Read more [...]