It is important to study the traders who are succeeding and learn from them.
In his Daily Report Card, that this top trader shares with Dr. Steenbarger and myself, you can see he is “crushing it”:
entry quality 9/10
Great finish to a great month – think I netted around 775k for the month. Pretty staggering considering my best month was 350k just last month. I did a great job of using my momentum and my profits to scale up as the opportunity was there and I had great focus and consistency throughout.
What is even better perhaps, is this month really pushed me past some bigger goals I had – making a million dollars of income on a year from trading, being the top guy at the firm (not sure but I think I am there). These goals didn’t seem attainable even after last month but sticking to the process got me there in the end.
Yes these results are staggering.
What we can learn most from this trader is: “sticking to the process got me there in the end”. This trader was working on sizing intensively, middle of the year. He was not breaking out to new highs in PnL. We could see his improvement, but the PnL was not skyrocketing relative to his improvement.
He kept working on sizing. Specifically being patient AND aggressive. This is a tough thing to do as a trader. You want to trade bigger and it’s hard to wait. Getting in early causes sloppy trades that can find your stops.
He was close. We could see it was coming. But he needed to stick to the process.
And then heightened opportunity visited. He was ready. His trading muscles had been developed during those months were he was improving, but the PnL was not cooperating.
It all came together in October with a personal best.
And then last month, with even more opportunity, he made a new personal best for the month as you can see above.
Bitcoin, other cryptocurriences, and blockchain are offering multiples of opportunity in the market. Opportunity met preparation for this trader.
One developing trader on our desk has found inspiration from watching traders like him “crush” the markets. That trader wrote:
Was really cool watching some of the guys have monster days today. Really was quite inspiring and motivational. It gives hope that someday that will be me. The more important aspect of today was the lessons I learned from these traders and the takeaways from why they were so successful today. I need to study what they did to understand why they had such fantastic days.
Perhaps this trader will inspire you as well.
Just four years ago he was a 10k a month trader. Last year he was a 7-figure trader. This year he is even better. In four years? Who knows? Expect that he will be much better.
I end The PlayBook with, “You can be better tomorrow than you are today.” This trader above is Exhibit A.
As always your feedback/questions are welcome- [email protected]
*no relevant positions