My wife sat me down last month.
I had just closed my best trading week of the year.
$18,000 in 3 sessions.
She said
“I need you to get a job.”“A real one.”“Something with a title and a schedule and somewhere to be.”
I showed her the trading account.
She looked at it for 4 seconds.
Then said:
“I do not care about the money.”“You play PlayStation until 4pm.”“My friends ask what you do and I do not know what to say.”“You have no structure. No colleagues. No office. Nothing.”“It feels like living with someone who gave up.”
$300,000 to $500,000 a year.
2 to 3 hours of actual work.
And the woman who knows me best looks at me like I am her unemployed husband who refuses to get a job.
The market rewards results.
The people around you reward the appearance of effort.
Those two things are not always compatible.
Claude controlling @tradingview live — switching symbols, writing Pine Script, batch scanning futures, replay trading, drawing levels. All from the terminal. Still rough edges but the vision is clear.
Thank you to everyone attending @Traders4ACause 🙏🏻
As a special gift to all attendees we are providing 30 DAYS OF FREE ACCESS TO @MyInvestingClub
-NO CREDIT CARD
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Tape is important in #trading, but...it comes behind so many much more important other factors.
There is no way i would recommend beginner trader to focus majority of focus or study time on tape (l2 orderflow) itself over other stuff out there. Watching tape as newbie trader without having any context on tickers expectations is nearly useless. Prioritize. For example:
Statistical research 2 hours per day on how many tickers per month squeeze 100, 300, 1000% and sorting database will be far more useful and applicable than spending same time on order flow l2 observations.
Segragating tickers performances in % moves and multi-day runners chances IF there is hot sector presence vs not so, for one two or more years historically will be far more more useful research than spending those hours on watching level 2 action.
Observing how tickers behave when testing prior obvious high time frame levels (fake breakouts or clean rejects) and tracking this live or spending an hour daily to do it for 100s or 1000s of historical tickers will be more useful spent time than spending that same time on level2 observations.
Doing simple binary historical test on 1000s of breakout setups and checking how many fail or succeed and what is average delivery move might take a lot of hours to gather such data. Yet that time will be better spent for beginner bull trader than spending same hours on observing level 2.
Researching unique catalysts that every once a while have significantly bigger capital influxes, private placements, or have heavy hot sector exposure and spending an hour daily on that research for as many samples historically will be better spent time than spending that hour on watching live level 2 action on your ticker of choice.
By level 2 I mean regardless of tool used, whether its default tape window, Bookmap, footprint chart, doesn't matter. All same category.
Is level2 useful and something that trader needs to learn and get better at? Of course. But for beginner with 1 to 2 years of trading roll it is by no means priority. Addictive nature of traders make so many traders believe that staring at the chart of some ticker moving is better than doing research which is just not the case.
I have done thousands of hours on each side and know how to value one vs the other.
#smallcaps
What really works in the market
1. Pullback after breakout
2. Trend break and rejection
3. Liquidity trap mean reversal
These are 3 concept that you need to get familiar with because all markets are moving in this direction
#tradingtips
24 green months in a row
18 months above 5 figures
3 years working together
I brought this trader from beginner to pro. He left his job and now trading for a living and supporting his wife and two daughters
The story of a man who risked everything
1/10
📈 How to Master $TSLA 101: Quick Guide
I will share with you a strategy that I teach in the room, called Bull Trap Reversal. I will usually look for a key level breakout of a supply zone for then waiting a chart pattern and order flow to look for a reversal short play.
On the right you can see how we traded in the room.
I hope you will find it useful using this strategy. Please Like & Share if you want more or have questions
$TSLA #stocks #tradingtips @bookmap_pro #bookmap
Trading Tip of the day: Bear Traps = Best long entries Who is trying to learn how Futures react to levels will find these 2 examples interesting.
If you look in the bookmark messages you will find that we talk often about bear and bull traps.
Big Hands or Smart Money often use these patterns to trap retailers, manipulate the market and move price action as they prefer. $ES $NQ this morning
#Futures #chartpatterns
Becoming a successful trader, making 7 & 8 figure does not mean having a 90% win rate strategy.
The secret is that you need the Trader’s Mindset. 🧠🧐
I am writing here few tips that I collected from all the profitable traders that I mentored or interviewed during the years.
1. **Accept the Market:** "Don't fight the market's momentum. Accept it as it is, and you'll make wiser trading decisions.
2. **Set Clear Stop-Loss:** "Always have a predefined exit strategy with a stop-loss. It protects your capital and prevents you from fighting a losing trade.
3. **Stick to Your Plan:** "Stay disciplined! If your trading strategy says to exit, follow it. Emotions can lead to fighting a trade.
4. **Learn from Mistakes:** "Every trader makes mistakes. Instead of fighting them, learn from them. It's how you grow in the trading world.
5. **Diversify Your Portfolio:** "Avoid putting all your eggs in one basket. Diversification can reduce the urge to fight a single trade's outcome.
6. **Avoid Revenge Trading:** "Revenge trading is a dangerous habit. Don't try to 'win back' losses by fighting the market. Stick to your strategy.
7. **Mind Your Risk:** "Risk management is key! Calculate how much you're willing to risk on a trade and stick to it. Avoid overcommitting.
8.**Review and Reflect:** "Regularly review your trades. Reflect on your decisions to understand where you might be fighting the market unnecessarily.
#tradingeducation #tradingtips
I was once a rookie trader who would succumb to his own demons as well
But then I made a decision that my goals are more important than a short term hit of dopamine from gambling
No one can be disciplined for u
It's a decision that you have to make
It's 100% in ur control
💡 Don' t try to catch every move when you trade. Don't try to catch every trade. Don't try to trade everything.
The secret of being profitable and consistent is to specialize in something.
Now focus on this
#tradingtips
$SPY possible range clearout and reversal like prior time. Over past 2 months it was trap mode all week long, every range break was false resulting with short term reversal.
I've said it so many times but I really want drive this across to you guys because clearly it flies over some people's heads
Im not saying dont learn new concepts news ways of trading. Im not saying dont improve your skills and terminology and hone your craft
There is nothing wrong with that at all!
What im saying is for most of you that lack results it's not a lack of TA knowledge that is holding you back
I am a multi-millionaire and I became a millionaire before I ever found SMC strictly trading support and resistance
The most basic simple "retail" shit that most turn their nose up at.
I made a killin doing that
SMC def helped me take my precision to the next level but I didnt need it to achieve profitability it was just to hone my craft more. Im at a level where I can do that.
I didn't need to know a bunch of shit I just needed to manage risk, be consistent in my execution and control my emotions day in day out
But nobody wants to do that. It's much easier to learn a bunch of trading concepts than conquer your inner demons. WAY EASIER
Same way people hide from their problems using drugs and alcohol...
Lotta of you do that but with technical analysis binge watching videos and information overload
But lotta you aint ready to have that talk
Humans are driven towards pleasure and we run away from pain. It's in our nature
The idea of perfection the idea of a holy grail an enigma is a pleasurable idea
You learning how to kill your ego learning how to be a good loser and embrace imperfection is painful
It's hurts your ego to even think about
That's why you search for this new knowledge whether you want to admit it or not
You want perfection. you want to avoid the pain of being wrong of taking a hit to your ego
Your hiding from yourself
Stop running
You must conquer your nature
Once you do...your basically there
When you stop being angry because things didn’t work out as expected, and embrace the process and study your results - good and bad - you begin to see the lessons and the path to success. Then you are empowered!