The Factor Report (PRIVATE)

Futures mkt trader since 1975. Shokunin.
Author. Market Wizard.✝️an. Price science
Membership Factor Report

[The Factor Report @PeterLBrandt]

Novice and aspiring market speculators think the magic is found in trade identification.
The "what" and "when" components of trading -- while necessary -- represent only about 5% of a trader's "edge."
Yet aspiring traders spend 80% of their time, energy, hopes and fears on trade identification and the next trade.
The real landmine in trading is self-sabotage. Dealing with human emotions is the battle line that matters.
You want to know yourself, I mean really know yourself -- the good, the bad and the ugly?
Become a trader.
This is why all the trading services who talk about their last trade (made 250% on XYZ) is such an absolute joke.
Trading services who talk about their winners are trading services you must avoid at all costs.
The real enemy in trading is self.
You want to know your biggest enemy to trading success? Well, just look in a mirror. It is you, not what you know or don't know, that keeps you from gaining traction in trading.
After three to five years of experience a person should know what they need to do to be profitable. The challenge is actually doing what you know you must do.
The task is overcoming self.

[The Factor Report @PeterLBrandt]

Déjà vu time for the Yen???
On Sept 22, 1985 (weekend) the global Central Bankers intervened in FX markets via Plaza Accord to dampen $USD strength
On Sept 20 Jen futures closed at $.0042
The Japanese Central Bank was most aggressive selling billions of dollars
Shorts were trapped
This old goat was among the shorts
Yen put in series of gaps in subsequent days, gaining 20% in two weeks
Can this happen again? $USDJPY

[jack schwager @jackschwager]

The audio for the new MW book Market Wizards: The Next Generation has just been published. Note there is a pdf with charts that accompanies purchase of the audio. There is a new narrator for this book, Hopper Stone. I believe he did a superb job.

https://t.co/TyMJSI6eG8

[jack schwager @jackschwager]

This "weekend rule" came up with my interview with Peter in Unknown Market Wizards. It is sound advice.

[The Factor Report @PeterLBrandt]

On weekend rule 👇

[The Factor Report @PeterLBrandt]

As a Corn and Bean trader since 1975 I found it very interesting recently when all the newcomer "commodity experts" were shouting BUY BUY BUY for $DBA
It was a huge "tell"

[The Factor Report @PeterLBrandt]

Opinions are a dime a dozen
Narratives only get traders in trouble
In my trading I have no desire to have an opinion or a narrative
I trade price and price alone

[The Factor Report @PeterLBrandt]

Would anybody be surprised if we get a short squeeze in the U.S. Dollar? $DX_F

[The Factor Report @PeterLBrandt]

Probably not important
Gold destined for the lowest close in 2026

[The Factor Report @PeterLBrandt]

FRIDAY CLOSING LOSS RULE
My trading policy is to liquidate any trade that shows a loss on a Friday for two reasons
1. Enjoy a weekend without sweating a loser
2. Friday losses often get worse the following week
Rules rule

[The Factor Report @PeterLBrandt]

#factormembers recent posts on the member's site https://t.co/RmvHZs53ob | Join our community here https://t.co/NNomYq6L6S

[The Factor Report @PeterLBrandt]

Cash Crude Oil
If we look at the monthly closing price chart we see a massive multi year channel
This would be a monster if completed above the 2022 high projecting price toward $200
The daily chart is coiling in a sym triangle

[The Factor Report @PeterLBrandt]

As I see it Bitcoin has met its initial target at Feb low. This does not mean that BTC cannot work lower or have a terminal wash-out. I do not see a tradable low until October.

[The Factor Report @PeterLBrandt]

Gold
My target is the lower portion of Channel #3, perhaps into Channel #2 terrritory
But we will see
Strong opinions weakly held $GC_F

[Steven Goldstein @AlphaMind101]

Trading is not an intellectual activity. It's an emotional one.

The decisions that cost you money aren't analytical failures. They're emotional ones. Fear. Greed. Ego. The inability to pull the trigger. The inability to let go.

Over-intellectualising pulls you toward analysis and perfectionism and away from the one thing that actually matters: taking risk.

The best traders don't eliminate the emotional side. They learn to work with it. Ignore it at your peril — it's always there, and it will always find you.

[The Factor Report @PeterLBrandt]

Something I cannot quite understand

Why people take losing trades personally

The markets don't know you. They have no idea who you are. They could care less what your hopes, fears and aspirations are. The markets are totally cold. Unfeeling

So why take a losing trade personally

Probably because you have misplaced assumptions and expectations. You assume the market cares about you enough to offer a profit. Your expectations are falsely placed

When I enter a trade I expect it to be a loser. I assume it will be a loser. This way I take risk management seriously

I know my trading stats. Over 200 trades I can come within a 10% on my estimate of ROR, win rate, PF, etc

But on any given trade or series of trades I do not have a clue. I may think I know where a market is going, but in reality I have no idea

So why would I take a loss personally. A trade is nothing more than a datum point in a series of data points subject to random probability theory. A loss is not a personal indictment

[The Factor Report @PeterLBrandt]

Worth reading 👇👇👇👇👇

[The Factor Report @PeterLBrandt]

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Oops again

[The Factor Report @PeterLBrandt]

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