This week I visited another trader in London. He was kind enough to host me for a few days and helped me meet other traders both retail and bigger players from the prop world. Here are a few things I’ve observed from that trip. Continue reading “A frog in London, tales from the trading world”
Man, i wish could have attended this class. Below are excerpts from Mike Bellafiore’s posts following the class. Continue reading “SMB Capital’s Mike Bellafiore on Dr. Brett Steenbarger’s Master Class”
2016 has come to an end. It’s time to review the results, and the processes.
I’ve wrote this in a private forum. The discussion was about traders who have been studying for years but are stuck running in circles. It kind of pissed me off so i decided to be brutal. Continue reading “How to reach the next step in your trading”
I funded my first live account one year ago, knowing i wasn’t ready yet. Let’s review what happened since then, where i’m at now and what the next step is.
I realize i haven’t posted in here in months. Many things happened since the last post. Please find below random observations, thoughts i’ve had since then.
- I went on a ski trip in February. I was on a roll before. Spotted setups on my phone during the trip but abstained from trading them. What i wasn’t prepared for was the comeback. It took me weeks to get back in the game. Barely. I couldn’t read the market at all, and thus was frustrated for not taking advantage of opportunities when they were there. I know i shouldn’t be that emotional to missed opportunities and that it shows my youth in the game. I may be lying to myself but i think all accomplished traders went through that stage at one point in their development. It probably takes more time when you’re on your own at home than when you’re in a bank, hedge fund, prop firm, with experienced people to coach you. In any case, we’re in june now, and I haven’t reached that level of synchronicity with the market since then.
- If there’s one thing i learnt, is that the trader is the edge, not the strategy. The more i know about the market doesn’t implicate more money in my account. It’s not the opposite either, obviously, but the correlation is very low. Of course having more knowledge (market structure, time and price, etc) helps, but it such a ridiculous part of what’s necessary. It’s not even close to having control over yourself. And don’t forget money management either.
To say that i’m unsatisfied with my trading week would be an understatement. While i didn’t lose money, i didn’t make any either. In fact, i didn’t place a single trade despite the numerous opportunities offered by the market this week. Some i had identified in advance but didn’t capitalize on, some i didn’t see at the time, only after the fact, mostly because i was doing something else at the same time. A study of my diary shows that i can only blame myself and not, say social media, which is both a blessing and a curse (more on that later). I’m clearly going through the phases of a developing trader. And since it’s been a while since i’ve written on this blog, i’d like to take this opportunity to show where i’m at.
Continue reading “20160131 Trading Journal entry”
Sometimes you come across material that is so good you just want to copy-paste the whole thing. What i’ll do instead is just giving you the link. The core of the post is about what the developing trader should focus on. Hint: it’s not the “setups”.