dan

a man with a plan | MMM 👁️ STDV + SMT THEORY 🔮

[dan @danfutured]

Everything is gonna work out just fine,

[The Inner Circle Trader @I_Am_The_ICT]

I was asked how to overcome anxiety and fear of losing trades...

For thing we must do is to remind ourselves that we alone are the one in control of entering trades. Risk is nonexistent, until we are in a position. We must have a sound model in which we employ with our trades... not impulsive hunches or copying someone else.

We must control greed and this is by limiting the number of trades we are permitting ourselves in any given metric, e.g. - per week, day or session.

We must know our self, what causes us to go off the rails, or gives us too much of an ego driven mania. This can only be discovered in a systematic desensitization process of deleveraged executions with a single model, away from the witness and influence of anyone else.

Learning to be content with enough. As humans, we tend to covet what others have or can do. Accept the fact that you are learning to read the market well, over time.

It does not happen for everyone quickly and it is absolutely normal for you to feel as if it is taking longer than you want.

Submit to it and the time you personally require. This is self-control, not denial of success.

There are no shortcuts, no matter how anyone else markets it or promises.

"Slow is smooth, smooth is fast."

[The Inner Circle Trader @I_Am_The_ICT]

What Makes Taking Losses Scary?

The absence of a sound trading model and impeccable Risk Management.

You fear losses, because you don't know your model, it's efficiency and yourself.

You will lose, given enough opportunities trying.

A sound model in the hands of a capable, sober-minded Trader, that employs impeccable Risk Management, prevents fear of losses; and replaces it with concern over KPI's.

The more you know...

[yimika. @yimikaaaa]

Stop wasting your 20s trying to find love, go find moneyyyyy and get rich.

[krabstrades @krabstradez]

God, i'm ready to unlock a new level in life.

[krabstrades @krabstradez]

The hardest battle is between your old habits and your new standards.

[L2WTrades @L2WTrades]

sat next to a 20 year old guy on a plane who casually mentioned he made $4.5 million last year

didn't look rich

t-shirt

jeans

beat up backpack

i asked what he did

"i trade futures"

"full time?"

"yeah, about 3 hours a day"

"$4.5 million in 3 hours a day?"

"well, it's not really about hours, it's about decisions. i probably make 10-15 decisions per month that matter. the rest is just waiting"

"what do you mean?"

"most people think trading is constant action. it's not. it's 99% waiting for your setup, 1% executing. that's why most people fail. they can't handle doing nothing"

he pulled out his laptop

showed me his calendar

90% of trading days marked: "NO TRADE"

"this is march, see? 31 days. i traded 7 times. made $380k that month"

"7 trades made $380k?"

"yeah, because they were the RIGHT 7 trades. everyone else took 200 trades that month and lost money because they were WRONG trades. quality over quantity"

"how do you know which 7 to take?"

"i don't trade unless i'd bet my house on it"

"what?"

"every trade, i ask myself: would i bet my house on this setup? if the answer is no, i don't trade. most setups? the answer is no. but 7 times this month, the answer was YES"

he kept talking:

"the biggest mistake retail traders make is thinking they need to trade every day. you don't. you need to trade WHEN YOUR SETUP APPEARS. some months that's 15 times. some months that's 3 times"

"what about consistency?"

"consistency isn't daily trading. consistency is ONLY taking your setup. if your setup appears once a week, you trade once a week. if it appears 5 times in a day, you trade 5 times that day. the market doesn't care about your need for action"

"but i feel like i'm wasting time if i'm not trading"

"that's employee mindset. you think time = money. it doesn't. correct decisions = money. i make more doing nothing 24 days a month than you make forcing trades every single day"

he was right

i was trading out of BOREDOM

not opportunity

i tested this for 90 days:

BEFORE "house bet" filter:
- 156 trades
- 41% win rate
- -$3,800

AFTER "house bet" filter:
- 11 trades
- 73% win rate
- +$14,200

11 trades in 90 days

because i stopped trading

and started WAITING

the plane guy was right:

"most traders are addicted to action. they need to DO something. that's why they lose. the real money is in doing NOTHING until the perfect setup appears. but doing nothing feels like you're not working, so people force trades"

"how do you handle the boredom?"

"i have a life outside trading. i go to the gym. i read. i travel. trading is 3 hours a day MAX. the other 21 hours i'm living. you guys are staring at charts 12 hours a day hoping something happens. that's not trading. that's gambling addiction"

he closed his laptop

"here's the secret: the less you trade, the more you make. i know guys trading 500 times a month making $0. i trade 15 times a month making $400k. the difference? i'm SELECTIVE. they're ACTIVE. market rewards selectivity, punishes activity"

flight landed

he gave me his card

"if you want to make real money trading, stop trying to trade every day. start waiting for YOUR setup only. 90% of trading is waiting. 10% is executing. master the waiting and you'll make more money doing nothing than everyone else makes doing everything"

i never saw him again

but i think about that conversation every single day

the math is simple:

you're not paid by the trade

you're paid by the CORRECT trade

taking 200 trades with 40% accuracy = -$5k

taking 20 trades with 70% accuracy = +$50k

same account

different approach

completely different outcome

most of you are over-trading

thinking activity = profit

it doesn't

selectivity = profit

the traders making $500k+/year

they trade LESS than you

not more

they're better at WAITING

not better at TRADING

master the wait

make the money

[BD @bd_dumptruck]

The best thing I ever decided to do was stop caring what people thought and just went on my own path

Do it yourself or sit back and watch someone else live your dream

[BD @bd_dumptruck]

Dont forget the ones that trade a fixed RR

Putting your stop and tp at 1rr or 3rr for example is gambling

[The Inner Circle Trader @I_Am_The_ICT]

https://t.co/W58zPs4d8K

[BD @bd_dumptruck]

1st Presented -> Monthly Opening Price -> 2 STDV Level

How simple for +90 points

Buyers and sellers are hard at work today
@I_Am_The_ICT

[dan @danfutured]

@I_Am_The_ICT HTOOOWWWWN🤘

[The Inner Circle Trader @I_Am_The_ICT]

Don't give undeserving people your time or presence.

[BD @bd_dumptruck]

Blessed to wake up for another week 🙏

[BD @bd_dumptruck]

Dear Lord

We are ready 🙏

[david @joker_szn]

your equity curve is a mirror, it reflects how much you trust your system vs how much you deviate

if you want to change your trading, you have to change the person the market is reflecting back at you

[dan @danfutured]

@bd_dumptruck The TRUTH👁️

[dan @danfutured]

@I_Am_The_ICT Well thanks man, you as well boss man😎‼️

[The Inner Circle Trader @I_Am_The_ICT]

Have great weekend Daniel.

:)

[BD @bd_dumptruck]

You must be blind to think this does not work

up 2-2.5 -> down 3.5-4

The stdv does not lie
$NQ

[BD @bd_dumptruck]

Improve your life and discipline outside the charts and you see it reflect to your trading

How can you expect to be disciplined in the charts if your a lazy sack of 💩 all day everyday