30 Trading Habits in 30 days: AM Idea Sheet

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am meeting

Welcome back to our new series 30 trading habits in 30 days.  In this video, I share why we created this series for the trading community and how it can help your trading.  If you have missed the prior habits they are archived.

Today we share habit #4- AM Idea Sheet.

Developing traders often miss trades.  They miss easy trades.  Frankly, trades they cannot afford to miss. Missing your best setups harms PnL, trader psychology, confidence, and trader progress.  Mostly, it pisses you off.

But what is even worse for developing traders missing an A+ trade is the loss of that trade experience.  You missed improving as a trader in your A+ trades.  This is the largest loss of all, substantially more important than lost PnL.


First you must be exposed to trading edge, a setup with edge.  Then you need experience trading that edge to turn it into skill.  One does not just read about edge and start trading that setup profitably.  A trader is exposed to edge and then must execute this trade in real-time numerous times before they can trade it profitably.

You must feel what it is like to make the trade.

See the nuance in these trades.

Replay it in your head.

Journal it.

Talk about it.

Obsess about it.

Rethink sizing it.

As a developing trader you must control the things that you can control.  And being in those best setups is something you can control.  It takes proper preparation.  It takes building habits so you are prepared and do not miss you best trades.

One habit to consider for your trading is an AM Idea Sheet.

You can see a partial snapshot of our SMB AM Idea Sheet from one of our new traders above taken from before today’s open.

Why did we create this AM Idea Sheet?

As a trading coach I grew frustrated with one training class missing the first trade we teach- Changing Fundamentals Trend Trade.  Admittedly, I did some yelling at them to set expectations it was not acceptable to miss these trades for their trader development.  Then we took proactive steps with a new habit.  That new habit was the AM Idea Sheet.

New traders are taught the best setups to trade when they first begin.  And each morning they scan the marketplace for such setups and then input them into the AM Idea Sheet.  They share this with their trading peers and me.  This primes the trader to be prepared for their favorite trades.

It is hard to miss can’t miss trade when you input them into a spreadsheet by hand each morning and review the best ideas of your trading peers as well.

This is a habit so you do not miss your best trades.

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*no relevant positions

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