{"id":49507,"date":"2020-01-09T10:47:27","date_gmt":"2020-01-09T15:47:27","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=49507"},"modified":"2020-01-09T10:47:27","modified_gmt":"2020-01-09T15:47:27","slug":"why-are-you-losing-money","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/why-are-you-losing-money","title":{"rendered":"Why Are You Losing Money?"},"content":{"rendered":"

As traders we all have\u00a0losing<\/span>\u00a0trades but are you consistently\u00a0losing<\/span>\u00a0money<\/span>\u00a0trading? In this video Merritt Black explores 5 key areas where you could improve.
\nView Video Transcript<\/strong><\/span>

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why are you losing money as a traitor as<\/div>\n<\/div>\n<\/div>\n
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traitors we all lose money as in we have<\/div>\n<\/div>\n<\/div>\n
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some losing trades here and there a bad<\/div>\n<\/div>\n<\/div>\n
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month here there but if you’re<\/div>\n<\/div>\n<\/div>\n
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consistently losing don’t worry you’re<\/div>\n<\/div>\n<\/div>\n
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not too alone there’s a lot of you out<\/div>\n<\/div>\n<\/div>\n
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there but with the experience we have<\/div>\n<\/div>\n<\/div>\n
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here at SMB we can help you so we’re<\/div>\n<\/div>\n<\/div>\n
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gonna look at five key areas why you<\/div>\n<\/div>\n<\/div>\n
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might be losing money and we’re gonna<\/div>\n<\/div>\n<\/div>\n
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dive right in<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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hi I’m Merritt black head of futures for<\/div>\n<\/div>\n<\/div>\n
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SMB Capital a proprietary trading desk<\/div>\n<\/div>\n<\/div>\n
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based out of midtown Manhattan so the<\/div>\n<\/div>\n<\/div>\n
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first reason that I see people losing<\/div>\n<\/div>\n<\/div>\n
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money consistently is because they don’t<\/div>\n<\/div>\n<\/div>\n
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have a good what we call higher<\/div>\n<\/div>\n<\/div>\n
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timeframe read okay<\/div>\n<\/div>\n<\/div>\n
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in our group when we teach we talk about<\/div>\n<\/div>\n<\/div>\n
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developing a narrative developing a<\/div>\n<\/div>\n<\/div>\n
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thesis developing the big idea using a<\/div>\n<\/div>\n<\/div>\n
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higher time frame and developing skills<\/div>\n<\/div>\n<\/div>\n
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laws of market dynamics ways to see what<\/div>\n<\/div>\n<\/div>\n
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the markets up to the story that’s<\/div>\n<\/div>\n<\/div>\n
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unfolding as we call it and that’s how<\/div>\n<\/div>\n<\/div>\n
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we see our overall risk reward landscape<\/div>\n<\/div>\n<\/div>\n
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and what the market is up to and if the<\/div>\n<\/div>\n<\/div>\n
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market doesn’t continue doing what its<\/div>\n<\/div>\n<\/div>\n
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currently up to that’s meaningful<\/div>\n<\/div>\n<\/div>\n
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information for us that’s a shift in<\/div>\n<\/div>\n<\/div>\n
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what we call the current market<\/div>\n<\/div>\n<\/div>\n
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condition so how good are you doing at<\/div>\n<\/div>\n<\/div>\n
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reading that current condition seeing<\/div>\n<\/div>\n<\/div>\n
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the higher time frame quite simply<\/div>\n<\/div>\n<\/div>\n
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seeing the key levels key lines in the<\/div>\n<\/div>\n<\/div>\n
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sand as we call them key inflection<\/div>\n<\/div>\n<\/div>\n
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points that’s a skill in and of its own<\/div>\n<\/div>\n<\/div>\n
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and there’s a lot of traders out there<\/div>\n<\/div>\n<\/div>\n
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who don’t frame context as I’m<\/div>\n<\/div>\n<\/div>\n
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discussing it here the nearly good<\/div>\n<\/div>\n<\/div>\n
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enough it’s a very very lacking skill it<\/div>\n<\/div>\n<\/div>\n
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doesn’t matter how good you are at<\/div>\n<\/div>\n<\/div>\n
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recognizing a shorter term pattern on<\/div>\n<\/div>\n<\/div>\n
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the lower timeframes if you can’t see<\/div>\n<\/div>\n<\/div>\n
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the context of that situation well<\/div>\n<\/div>\n<\/div>\n
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enough you’re you’re kind of you you’ve<\/div>\n<\/div>\n<\/div>\n
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got a headwind right you’ve got an<\/div>\n<\/div>\n<\/div>\n
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uphill battle in front of you there so<\/div>\n<\/div>\n<\/div>\n
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get the hard time frame down get that<\/div>\n<\/div>\n<\/div>\n
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narrative down be able to see what the<\/div>\n<\/div>\n<\/div>\n
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markets up to and what the key levels<\/div>\n<\/div>\n<\/div>\n
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are personally I think market profile<\/div>\n<\/div>\n<\/div>\n
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and volume profile are fantastic tools<\/div>\n<\/div>\n<\/div>\n
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to frame this to simplify some higher<\/div>\n<\/div>\n<\/div>\n
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time it higher timeframe information<\/div>\n<\/div>\n<\/div>\n
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down to meaningful usable workable<\/div>\n<\/div>\n<\/div>\n
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thesis and things that you can use to do<\/div>\n<\/div>\n<\/div>\n
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better secondly timing right there’s<\/div>\n<\/div>\n<\/div>\n
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there’s other people out there maybe<\/div>\n<\/div>\n<\/div>\n
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this is you you’ve got a good<\/div>\n<\/div>\n<\/div>\n
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on let’s say volume profile and what the<\/div>\n<\/div>\n<\/div>\n
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markets up to whether it’s in a big fat<\/div>\n<\/div>\n<\/div>\n
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balance area or whether it’s trending or<\/div>\n<\/div>\n<\/div>\n
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whatever’s going on you can see those<\/div>\n<\/div>\n<\/div>\n
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things and you know what it’s up to and<\/div>\n<\/div>\n<\/div>\n
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therefore you have a pretty good<\/div>\n<\/div>\n<\/div>\n
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directional bias in mind and whatnot<\/div>\n<\/div>\n<\/div>\n
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but you can’t seem to get the timing of<\/div>\n<\/div>\n<\/div>\n
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the trades down right if you don’t time<\/div>\n<\/div>\n<\/div>\n
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it right you’re still wrong even if your<\/div>\n<\/div>\n<\/div>\n
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idea is right so timing is huge are you<\/div>\n<\/div>\n<\/div>\n
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fast enough the lower and lower<\/div>\n<\/div>\n<\/div>\n
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timeframes you go to the more problems I<\/div>\n<\/div>\n<\/div>\n
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see people who aren’t quite quick enough<\/div>\n<\/div>\n<\/div>\n
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on the trigger<\/div>\n<\/div>\n<\/div>\n
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whether that’s due to some form of<\/div>\n<\/div>\n<\/div>\n
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psychology issue where there’s a<\/div>\n<\/div>\n<\/div>\n
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hesitation a fear uncertainty whatever<\/div>\n<\/div>\n<\/div>\n
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it might be those things need to be<\/div>\n<\/div>\n<\/div>\n
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addressed so that you’re able to act<\/div>\n<\/div>\n<\/div>\n
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decisively when the conditions are right<\/div>\n<\/div>\n<\/div>\n
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to do so another big thing I see it’s<\/div>\n<\/div>\n<\/div>\n
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quite simple but it’s impactful is that<\/div>\n<\/div>\n<\/div>\n
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people aren’t prepared enough as the<\/div>\n<\/div>\n<\/div>\n
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market comes into a situation where it’s<\/div>\n<\/div>\n<\/div>\n
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almost time to buy this is the the time<\/div>\n<\/div>\n<\/div>\n
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of the trade sequence that we call<\/div>\n<\/div>\n<\/div>\n
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stalking the trade before that it’s all<\/div>\n<\/div>\n<\/div>\n
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about the analysis and okay I’m not even<\/div>\n<\/div>\n<\/div>\n
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interested in this market okay but now<\/div>\n<\/div>\n<\/div>\n
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it’s at a critical inflection okay now<\/div>\n<\/div>\n<\/div>\n
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it’s telling me that the trade is on now<\/div>\n<\/div>\n<\/div>\n
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I’m stalking the trade when it’s time to<\/div>\n<\/div>\n<\/div>\n
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stock the trade you gotta be a hundred<\/div>\n<\/div>\n<\/div>\n
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and ten percent on that market focused<\/div>\n<\/div>\n<\/div>\n
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not looking at your phone not watching<\/div>\n<\/div>\n<\/div>\n
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TV not in a chat room typing something<\/div>\n<\/div>\n<\/div>\n
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out you got to be focused on executing<\/div>\n<\/div>\n<\/div>\n
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and so preparedness is huge for<\/div>\n<\/div>\n<\/div>\n
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increasing your speed of going and being<\/div>\n<\/div>\n<\/div>\n
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able to time trades and execute them<\/div>\n<\/div>\n<\/div>\n
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well what kind of timing tools and<\/div>\n<\/div>\n<\/div>\n
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skills are you using or have right what<\/div>\n<\/div>\n<\/div>\n
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tools are you using what skills do you<\/div>\n<\/div>\n<\/div>\n
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have<\/div>\n<\/div>\n<\/div>\n
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have those been assessed in our group<\/div>\n<\/div>\n<\/div>\n
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mentoring and whatnot<\/div>\n<\/div>\n<\/div>\n
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we’re all about assessing the skills<\/div>\n<\/div>\n<\/div>\n
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that you have and highlighting the ones<\/div>\n<\/div>\n<\/div>\n
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that you don’t have so that we can teach<\/div>\n<\/div>\n<\/div>\n
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and grow them for me a big part of<\/div>\n<\/div>\n<\/div>\n
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timing is about understanding the rhythm<\/div>\n<\/div>\n<\/div>\n
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of the market how it kind of ebbs and<\/div>\n<\/div>\n<\/div>\n
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flows per a given volatility situation<\/div>\n<\/div>\n<\/div>\n
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also order flow whether you call it<\/div>\n<\/div>\n<\/div>\n
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order flow like I do whether you call it<\/div>\n<\/div>\n<\/div>\n
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reading the tape like Bella and Steve do<\/div>\n<\/div>\n<\/div>\n
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it’s all about it it’s it’s down to the<\/div>\n<\/div>\n<\/div>\n
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nitty gritty of what our buyers doing<\/div>\n<\/div>\n<\/div>\n
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right now how aggressive are they are<\/div>\n<\/div>\n<\/div>\n
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they absorbing are they showing sighs<\/div>\n<\/div>\n<\/div>\n
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what’s going on what our sellers doing<\/div>\n<\/div>\n<\/div>\n
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right now are they aggressive are they<\/div>\n<\/div>\n<\/div>\n
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absorbing are they showing sighs are<\/div>\n<\/div>\n<\/div>\n
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they weak are they strong that is what’s<\/div>\n<\/div>\n<\/div>\n
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really gonna help you avoid kind of<\/div>\n<\/div>\n<\/div>\n
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getting run over by a freight train from<\/div>\n<\/div>\n<\/div>\n
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time to time because you’re you’re right<\/div>\n<\/div>\n<\/div>\n
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there with the pulse of the market by<\/div>\n<\/div>\n<\/div>\n
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using the tape reading the order flow<\/div>\n<\/div>\n<\/div>\n
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it’s a critical skill for helping with<\/div>\n<\/div>\n<\/div>\n
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the skill set of timing thirdly trade<\/div>\n<\/div>\n<\/div>\n
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management this is a big one that I see<\/div>\n<\/div>\n<\/div>\n
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in in our groups and our students people<\/div>\n<\/div>\n<\/div>\n
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will develop really good narratives big<\/div>\n<\/div>\n<\/div>\n
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you know big picture view like we talked<\/div>\n<\/div>\n<\/div>\n
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about really great levels they come in<\/div>\n<\/div>\n<\/div>\n
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they time the trade well and then what<\/div>\n<\/div>\n<\/div>\n
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happens the trade management gets they<\/div>\n<\/div>\n<\/div>\n
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get in their own way we have students<\/div>\n<\/div>\n<\/div>\n
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who what we call mastermind the trade<\/div>\n<\/div>\n<\/div>\n
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which is a sarcastic phrase because<\/div>\n<\/div>\n<\/div>\n
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they’re essentially being idiots with<\/div>\n<\/div>\n<\/div>\n
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their masterminding of what’s going on<\/div>\n<\/div>\n<\/div>\n
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they’re really getting in the way of the<\/div>\n<\/div>\n<\/div>\n
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trade just letting it work so trade<\/div>\n<\/div>\n<\/div>\n
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management is absolutely critical so<\/div>\n<\/div>\n<\/div>\n
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some of the biggest problems I see with<\/div>\n<\/div>\n<\/div>\n
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that typically are around stops initial<\/div>\n<\/div>\n<\/div>\n
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stop placement is something that needs<\/div>\n<\/div>\n<\/div>\n
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to be assessed needs to be tested needs<\/div>\n<\/div>\n<\/div>\n
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to be back tested whether visually or<\/div>\n<\/div>\n<\/div>\n
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quantitatively you look at how much room<\/div>\n<\/div>\n<\/div>\n
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the trade needs to work and that needs<\/div>\n<\/div>\n<\/div>\n
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to fit within your overall trade plan<\/div>\n<\/div>\n<\/div>\n
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for are you someone using order flow and<\/div>\n<\/div>\n<\/div>\n
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whatnot to quickly get out but then<\/div>\n<\/div>\n<\/div>\n
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you’ll need to do what quickly get back<\/div>\n<\/div>\n<\/div>\n
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in or are you the type of trader<\/div>\n<\/div>\n<\/div>\n
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where you want to use wider stops and<\/div>\n<\/div>\n<\/div>\n
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really give their trade room to let the<\/div>\n<\/div>\n<\/div>\n
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whole the full idea work out you really<\/div>\n<\/div>\n<\/div>\n
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get to choose which of those two traders<\/div>\n<\/div>\n<\/div>\n
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you want to be I personally prefer to be<\/div>\n<\/div>\n<\/div>\n
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a little tighter<\/div>\n<\/div>\n<\/div>\n
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and have some reentry’s and things like<\/div>\n<\/div>\n<\/div>\n
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that and and take a little less heat and<\/div>\n<\/div>\n<\/div>\n
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maximize that risk reward I think<\/div>\n<\/div>\n<\/div>\n
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reading order flow and whatnot helps do<\/div>\n<\/div>\n<\/div>\n
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that but it’s really important that you<\/div>\n<\/div>\n<\/div>\n
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figure out what type of trader you want<\/div>\n<\/div>\n<\/div>\n
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to be and how you want to place stops<\/div>\n<\/div>\n<\/div>\n
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initially because it can kill you even<\/div>\n<\/div>\n<\/div>\n
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if you get the hard timeframe right and<\/div>\n<\/div>\n<\/div>\n
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you get your timing right it can still<\/div>\n<\/div>\n<\/div>\n
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be wrong<\/div>\n<\/div>\n<\/div>\n
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another thing is moving stops once the<\/div>\n<\/div>\n<\/div>\n
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trade starts to work that’s a big one<\/div>\n<\/div>\n<\/div>\n
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you know all those natural emotions and<\/div>\n<\/div>\n<\/div>\n
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different things come into play here<\/div>\n<\/div>\n<\/div>\n
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where you want to protect profits so you<\/div>\n<\/div>\n<\/div>\n
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aggressively kind of trail a stop or<\/div>\n<\/div>\n<\/div>\n
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move it with with momentum or whatnot<\/div>\n<\/div>\n<\/div>\n
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and a lot of people take themselves out<\/div>\n<\/div>\n<\/div>\n
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of really good traits especially on the<\/div>\n<\/div>\n<\/div>\n
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retail trader side you see that a lot<\/div>\n<\/div>\n<\/div>\n
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the more and more I think you get<\/div>\n<\/div>\n<\/div>\n
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towards institutional type trading<\/div>\n<\/div>\n<\/div>\n
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granted they are trading you know<\/div>\n<\/div>\n<\/div>\n
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typically hard timeframes the more they<\/div>\n<\/div>\n<\/div>\n
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give trades room to breathe to not be<\/div>\n<\/div>\n<\/div>\n
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taken out by simple you know noise if we<\/div>\n<\/div>\n<\/div>\n
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could call it that so really consider<\/div>\n<\/div>\n<\/div>\n
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initial placement and then how you<\/div>\n<\/div>\n<\/div>\n
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manage those stops if and when you move<\/div>\n<\/div>\n<\/div>\n
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them going forward I know we my traders<\/div>\n<\/div>\n<\/div>\n
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to keep stops very very stable away from<\/div>\n<\/div>\n<\/div>\n
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things typically in a more ranging type<\/div>\n<\/div>\n<\/div>\n
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market but if you are in more of that<\/div>\n<\/div>\n<\/div>\n
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momentum higher tempo trending market<\/div>\n<\/div>\n<\/div>\n
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you can trail those stops a little more<\/div>\n<\/div>\n<\/div>\n
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not too tightly granted if you’re just a<\/div>\n<\/div>\n<\/div>\n
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momentum scalper and you’re only trying<\/div>\n<\/div>\n<\/div>\n
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to capture a direct leg and as soon as<\/div>\n<\/div>\n<\/div>\n
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it starts to to turn or on you or<\/div>\n<\/div>\n<\/div>\n
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whatnot you want to be out fine trail to<\/div>\n<\/div>\n<\/div>\n
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your heart’s content because you know<\/div>\n<\/div>\n<\/div>\n
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very tightly with the momentum because<\/div>\n<\/div>\n<\/div>\n
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that’s what you need to do again you’ve<\/div>\n<\/div>\n<\/div>\n
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got to pick your identity you’ve got to<\/div>\n<\/div>\n<\/div>\n
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decide what kind of trader you want to<\/div>\n<\/div>\n<\/div>\n
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be and then you’ve got to go execute<\/div>\n<\/div>\n<\/div>\n
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that trade management flawlessly number<\/div>\n<\/div>\n<\/div>\n
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four this is a huge one lack of process<\/div>\n<\/div>\n<\/div>\n
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do you really have that trader identity<\/div>\n<\/div>\n<\/div>\n
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that I was just talking about do you<\/div>\n<\/div>\n<\/div>\n
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know the exact type trader you want to<\/div>\n<\/div>\n<\/div>\n
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be and have you gone from that general<\/div>\n<\/div>\n<\/div>\n
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identity you know mission statement type<\/div>\n<\/div>\n<\/div>\n
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thing down to the nitty<\/div>\n<\/div>\n<\/div>\n
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of developing processes for how you time<\/div>\n<\/div>\n<\/div>\n
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traits the timeframes you operate on the<\/div>\n<\/div>\n<\/div>\n
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tools that you use and how you use them<\/div>\n<\/div>\n<\/div>\n
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how the tools work together how you<\/div>\n<\/div>\n<\/div>\n
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might handle dissonance what do you do<\/div>\n<\/div>\n<\/div>\n
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with confluence what’s your risk plan<\/div>\n<\/div>\n<\/div>\n
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how do you handle moving stops how do<\/div>\n<\/div>\n<\/div>\n
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you initially place them documented<\/div>\n<\/div>\n<\/div>\n
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process plans for the way that you<\/div>\n<\/div>\n<\/div>\n
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operate and do these things you need to<\/div>\n<\/div>\n<\/div>\n
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have this because when the going gets<\/div>\n<\/div>\n<\/div>\n
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tough you need something that you can<\/div>\n<\/div>\n<\/div>\n
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lean on something that you can revert<\/div>\n<\/div>\n<\/div>\n
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back to and you know be your rock that<\/div>\n<\/div>\n<\/div>\n
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you can you find that stability when the<\/div>\n<\/div>\n<\/div>\n
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chaos is there whether that’s from<\/div>\n<\/div>\n<\/div>\n
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market chaos or from your own internal<\/div>\n<\/div>\n<\/div>\n
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chaos with emotions and whatnot you need<\/div>\n<\/div>\n<\/div>\n
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to develop process most people have not<\/div>\n<\/div>\n<\/div>\n
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developed proper processes for how they<\/div>\n<\/div>\n<\/div>\n
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go about operating in their trading<\/div>\n<\/div>\n<\/div>\n
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business which brings us to our next and<\/div>\n<\/div>\n<\/div>\n
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last point number five maybe your<\/div>\n<\/div>\n<\/div>\n
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problem is that you have process but<\/div>\n<\/div>\n<\/div>\n
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you’re unable to follow it we see this a<\/div>\n<\/div>\n<\/div>\n
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lot out there oh you know my system told<\/div>\n<\/div>\n<\/div>\n
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me to do the right thing but I just<\/div>\n<\/div>\n<\/div>\n
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messed it up I got in the way<\/div>\n<\/div>\n<\/div>\n
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trading is all between your ears all<\/div>\n<\/div>\n<\/div>\n
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these type things right it happens to<\/div>\n<\/div>\n<\/div>\n
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two humans all over the world having a<\/div>\n<\/div>\n<\/div>\n
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process is one thing but then being able<\/div>\n<\/div>\n<\/div>\n
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to execute on it is another thing that’s<\/div>\n<\/div>\n<\/div>\n
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why I listed them as points for and then<\/div>\n<\/div>\n<\/div>\n
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points:5 they’re different things so if<\/div>\n<\/div>\n<\/div>\n
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you are struggling to execute flawlessly<\/div>\n<\/div>\n<\/div>\n
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on your process I can’t strongly enough<\/div>\n<\/div>\n<\/div>\n
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urge you to take a look at the work and<\/div>\n<\/div>\n<\/div>\n
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the blog and the books of dr. Brett’s<\/div>\n<\/div>\n<\/div>\n
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Steinberger he has some fantastic<\/div>\n<\/div>\n<\/div>\n
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resources out there on being able to<\/div>\n<\/div>\n<\/div>\n
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self coach minimize errors play from<\/div>\n<\/div>\n<\/div>\n
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your strengths all these type things and<\/div>\n<\/div>\n<\/div>\n
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speaking of playing from your strengths<\/div>\n<\/div>\n<\/div>\n
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that would be my kind of initial advice<\/div>\n<\/div>\n<\/div>\n
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for you if this is what you’re<\/div>\n<\/div>\n<\/div>\n
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struggling with check for alignment<\/div>\n<\/div>\n<\/div>\n
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right you take your car in get a check<\/div>\n<\/div>\n<\/div>\n
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for alignment<\/div>\n<\/div>\n<\/div>\n
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take you trading to the shop get it<\/div>\n<\/div>\n<\/div>\n
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checked for alignment how does your<\/div>\n<\/div>\n<\/div>\n
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trading identity that you’ve carved out<\/div>\n<\/div>\n<\/div>\n
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and you do have your processes in place<\/div>\n<\/div>\n<\/div>\n
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right and all your business plan and the<\/div>\n<\/div>\n<\/div>\n
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timeframes you’re operating on and<\/div>\n<\/div>\n<\/div>\n
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whether you’re a momentum trader are<\/div>\n<\/div>\n<\/div>\n
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looking for more mean reversion stuff or<\/div>\n<\/div>\n<\/div>\n
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\n
a combination of the two what are you<\/div>\n<\/div>\n<\/div>\n
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doing<\/div>\n<\/div>\n<\/div>\n
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specifically and here’s what’s important<\/div>\n<\/div>\n<\/div>\n
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how does that align with you<\/div>\n<\/div>\n<\/div>\n
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who you are your strengths where you’ve<\/div>\n<\/div>\n<\/div>\n
\n
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been successful in the past in areas of<\/div>\n<\/div>\n<\/div>\n
\n
\n
life outside of trading how does your<\/div>\n<\/div>\n<\/div>\n
\n
\n
methodology align with who you are and<\/div>\n<\/div>\n<\/div>\n
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your strengths it’s very important<\/div>\n<\/div>\n<\/div>\n
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because otherwise you run into some<\/div>\n<\/div>\n<\/div>\n
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ownership problems if you don’t really<\/div>\n<\/div>\n<\/div>\n
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own a trade any of the any of you who’ve<\/div>\n<\/div>\n<\/div>\n
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been trading for any time you don’t own<\/div>\n<\/div>\n<\/div>\n
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a trade if you don’t accept the risk if<\/div>\n<\/div>\n<\/div>\n
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you don’t fully take responsibility for<\/div>\n<\/div>\n<\/div>\n
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a trade idea you’re not going to be able<\/div>\n<\/div>\n<\/div>\n
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to go execute it flawlessly in any<\/div>\n<\/div>\n<\/div>\n
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consistent manner you know if you get<\/div>\n<\/div>\n<\/div>\n
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your ideas from Twitter or someone else<\/div>\n<\/div>\n<\/div>\n
\n
\n
someone gives you a hot tip or whatever<\/div>\n<\/div>\n<\/div>\n
\n
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you put the trade on you’re much more<\/div>\n<\/div>\n<\/div>\n
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likely to botch one of those trades<\/div>\n<\/div>\n<\/div>\n
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because you’re not fully bought in it’s<\/div>\n<\/div>\n<\/div>\n
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\n
not your trade idea and to go a little<\/div>\n<\/div>\n<\/div>\n
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deeper cycle psychologically a lot of<\/div>\n<\/div>\n<\/div>\n
\n
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people actually look for those trades<\/div>\n<\/div>\n<\/div>\n
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because it gives them discomfort relief<\/div>\n<\/div>\n<\/div>\n
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psychologically because they don’t have<\/div>\n<\/div>\n<\/div>\n
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to take ownership it wasn’t their idea<\/div>\n<\/div>\n<\/div>\n
\n
\n
so take a look at that as well so number<\/div>\n<\/div>\n<\/div>\n
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one has your higher timeframe Reed can<\/div>\n<\/div>\n<\/div>\n
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you see what’s going on in the market<\/div>\n<\/div>\n<\/div>\n
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what it’s up to where that would change<\/div>\n<\/div>\n<\/div>\n
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assess that take a look at what you’ve<\/div>\n<\/div>\n<\/div>\n
\n
\n
done in the past and take a look at how<\/div>\n<\/div>\n<\/div>\n
\n
\n
good of a job you are doing at seeing<\/div>\n<\/div>\n<\/div>\n
\n
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the key levels day in day out if you<\/div>\n<\/div>\n<\/div>\n
\n
\n
don’t think this is possible for those<\/div>\n<\/div>\n<\/div>\n
\n
\n
of you at home who think that’s crazy<\/div>\n<\/div>\n<\/div>\n
\n
\n
all we can do is let the market start to<\/div>\n<\/div>\n<\/div>\n
\n
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trade each day and see where the levels<\/div>\n<\/div>\n<\/div>\n
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form and then go from that forward it’s<\/div>\n<\/div>\n<\/div>\n
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\n
simply not true guys you could and this<\/div>\n<\/div>\n<\/div>\n
\n
\n
is this is not a pitch it’s just saying<\/div>\n<\/div>\n<\/div>\n
\n
\n
hey check it out our room where I post<\/div>\n<\/div>\n<\/div>\n
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\n
my levels every day it’s preposterous to<\/div>\n<\/div>\n<\/div>\n
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think that they<\/div>\n<\/div>\n<\/div>\n
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on the precision of those levels and<\/div>\n<\/div>\n<\/div>\n
\n
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just how often the market turns from<\/div>\n<\/div>\n<\/div>\n
\n
\n
them and they are significant after the<\/div>\n<\/div>\n<\/div>\n
\n
\n
fact that it’s preposterous to say that<\/div>\n<\/div>\n<\/div>\n
\n
\n
that can’t be done come take a look for<\/div>\n<\/div>\n<\/div>\n
\n
\n
yourself so have a higher time frame<\/div>\n<\/div>\n<\/div>\n
\n
\n
read work on your timing skills perhaps<\/div>\n<\/div>\n<\/div>\n
\n
\n
you need to grow in some of the tools<\/div>\n<\/div>\n<\/div>\n
\n
\n
that you’re using right perhaps you need<\/div>\n<\/div>\n<\/div>\n
\n
\n
to learn how to use a footprint chart<\/div>\n<\/div>\n<\/div>\n
\n
\n
perhaps you need to learn how to use<\/div>\n<\/div>\n<\/div>\n
\n
\n
cumulative Delta things that can<\/div>\n<\/div>\n<\/div>\n
\n
\n
quantitatively make it easier on you<\/div>\n<\/div>\n<\/div>\n
\n
\n
your cognitive load in real time to<\/div>\n<\/div>\n<\/div>\n
\n
\n
assess the strengths and weakness of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
buyers and sellers don’t I I really<\/div>\n<\/div>\n<\/div>\n
\n
\n
recommend not to be archaic if you will<\/div>\n<\/div>\n<\/div>\n
\n
\n
like it’s 1994 and just stare at a time<\/div>\n<\/div>\n<\/div>\n
\n
\n
and sales window there’s much much<\/div>\n<\/div>\n<\/div>\n
\n
\n
better tools these days<\/div>\n<\/div>\n<\/div>\n
\n
\n
number three trade management how are<\/div>\n<\/div>\n<\/div>\n
\n
\n
you approaching this it’s but it’s a<\/div>\n<\/div>\n<\/div>\n
\n
\n
part of your trainer identity how are<\/div>\n<\/div>\n<\/div>\n
\n
\n
you placing stops how are you managing<\/div>\n<\/div>\n<\/div>\n
\n
\n
stops once things start to work it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
very important that you get those right<\/div>\n<\/div>\n<\/div>\n
\n
\n
with the the knowledge that it will<\/div>\n<\/div>\n<\/div>\n
\n
\n
never be perfect for all traits that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
the thing that Boches a lot of trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
management for people is they tend to<\/div>\n<\/div>\n<\/div>\n
\n
\n
think oh well that wasn’t ideal with the<\/div>\n<\/div>\n<\/div>\n
\n
\n
benefit of hindsight so therefore if I<\/div>\n<\/div>\n<\/div>\n
\n
\n
just would have done this it would have<\/div>\n<\/div>\n<\/div>\n
\n
\n
been perfect so I’ll do that next time<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then they use methodology B instead<\/div>\n<\/div>\n<\/div>\n
\n
\n
of a and then the next time B was the<\/div>\n<\/div>\n<\/div>\n
\n
\n
better one or a was the better one you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know you just keep missing find a way<\/div>\n<\/div>\n<\/div>\n
\n
\n
where you’re happy with the misses<\/div>\n<\/div>\n<\/div>\n
\n
\n
because it’ll never be perfect and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
process either you don’t have a process<\/div>\n<\/div>\n<\/div>\n
\n
\n
or the the last one you’re unable to<\/div>\n<\/div>\n<\/div>\n
\n
\n
follow your process in which you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
take a look at alignment with strengths<\/div>\n<\/div>\n<\/div>\n
\n
\n
and things like that so five tremendous<\/div>\n<\/div>\n<\/div>\n
\n
\n
ways that I see all the time across<\/div>\n<\/div>\n<\/div>\n
\n
\n
Twitter across students junior traders<\/div>\n<\/div>\n<\/div>\n
\n
\n
you name it struggle in these areas and<\/div>\n<\/div>\n<\/div>\n
\n
\n
we can really help you with them what do<\/div>\n<\/div>\n<\/div>\n
\n
\n
you need to do besides all the 150<\/div>\n<\/div>\n<\/div>\n
\n
\n
things I’ve said so far quite simply you<\/div>\n<\/div>\n<\/div>\n
\n
\n
need to track your results you need to<\/div>\n<\/div>\n<\/div>\n
\n
\n
study and interpret the meaning of those<\/div>\n<\/div>\n<\/div>\n
\n
\n
results and then you need to implement<\/div>\n<\/div>\n<\/div>\n
\n
\n
changes not 2010<\/div>\n<\/div>\n<\/div>\n
\n
\n
at once but one change at a time track<\/div>\n<\/div>\n<\/div>\n
\n
\n
what you’re doing keep your statistics<\/div>\n<\/div>\n<\/div>\n
\n
\n
take a look at how things are evolving<\/div>\n<\/div>\n<\/div>\n
\n
\n
assess is part of your end of day review<\/div>\n<\/div>\n<\/div>\n
\n
\n
how good of a job that I do today at<\/div>\n<\/div>\n<\/div>\n
\n
\n
seeing what the higher time frame was up<\/div>\n<\/div>\n<\/div>\n
\n
\n
to and where the key levels were as<\/div>\n<\/div>\n<\/div>\n
\n
\n
before we come into this session how<\/div>\n<\/div>\n<\/div>\n
\n
\n
good of a job did I do with that today<\/div>\n<\/div>\n<\/div>\n
\n
\n
can I get better at that can I continue<\/div>\n<\/div>\n<\/div>\n
\n
\n
to develop that skill we have four other<\/div>\n<\/div>\n<\/div>\n
\n
\n
skills you can develop too so track<\/div>\n<\/div>\n<\/div>\n
\n
\n
study review and then implement<\/div>\n<\/div>\n<\/div>\n
\n
\n
incremental change and I promise you you<\/div>\n<\/div>\n<\/div>\n
\n
\n
will be unable to prevent getting better<\/div>\n<\/div>\n<\/div>\n
\n
\n
as a trader so if you like what you’ve<\/div>\n<\/div>\n<\/div>\n
\n
\n
heard please head over to SMB futures<\/div>\n<\/div>\n<\/div>\n
\n
\n
dot-com take a look at how you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
really get way deeper into these topics<\/div>\n<\/div>\n<\/div>\n
\n
\n
with myself through our mentoring<\/div>\n<\/div>\n<\/div>\n
\n
\n
classes through our futures foundation<\/div>\n<\/div>\n<\/div>\n
\n
\n
program have a look at S&P; futures comm<\/div>\n<\/div>\n<\/div>\n
\n
\n
and trade well<\/div>\n<\/div>\n<\/div>\n
\n
\n
<\/div><\/div>\n<\/div>\n<\/div>\n

\"\"<\/a><\/p>\n

* no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

As traders we all have\u00a0losing\u00a0trades but are you consistently\u00a0losing\u00a0money\u00a0trading? In this video Merritt Black explores 5 key areas where you could improve. * no relevant positions<\/p>\n","protected":false},"author":290,"featured_media":49508,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-49507","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nWhy Are You Losing Money? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/why-are-you-losing-money\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Are You Losing Money? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"As traders we all have\u00a0losing\u00a0trades but are you consistently\u00a0losing\u00a0money\u00a0trading? In this video Merritt Black explores 5 key areas where you could improve. * no relevant positions\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/why-are-you-losing-money\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-09T15:47:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2020\/01\/losing-money.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"smbcapital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"smbcapital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"15 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-are-you-losing-money#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-are-you-losing-money\"},\"author\":{\"name\":\"smbcapital\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/57cc9affbbb6763e0012594ad884b25a\"},\"headline\":\"Why Are You Losing Money?\",\"datePublished\":\"2020-01-09T15:47:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-are-you-losing-money\"},\"wordCount\":3045,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-are-you-losing-money#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2020\/01\/losing-money.jpg\",\"articleSection\":[\"Free Daily Trading Video\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-are-you-losing-money\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/why-are-you-losing-money\",\"name\":\"Why Are You Losing Money? 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