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Goal of this thread is to master Perry's newest paradigm after February 25th presentation to confirm personal fit (or not).
Develop and FOLLOW new money management rules (to include only trading sim until consistently profitable).
Renew focus, rules, trading plan, screens, method, tracking, analysis, bookkeeping, money management, and trading mindset.
Share journey, preparation, experience. Warts and all.
Moving forward.
Simplify. One method. One contract. One platform. One solution.
First and foremost it's about Psychology. We can learn methods, write rules, prepare a trading plan, create a great trading environment, and set oneself up for success. Since we were probably already successful in other endeavors, it's just another plan to succeed. Plan, execute, succeed.
Nope.
I'm use to managing outcomes over time, and loosely, trading is feedback loop is much quicker and unforgiving.
I'm use to be being in the Project Director/Manager role. The market is the boss, not me.
I'm use to being the decision-maker, trading should fit. Nope, much more personal.
I'm use to being right most of the time. Blown up a couple accounts being right in the markets.
I'm use to other people sweating the details. My trading analysis has fallen by the wayside.
I'm use to gathering lots of info and viewpoints. That can easily distract in trading - too many methods, indicators, charts, pretty colors, moving squiglies.
I'm use to success and acting with confidence. Blowing an account up can shake that belief in one self.
Solutions.
Find/develop a method that is a natural fit. Don't force it. In trying new methods, stick with it, analyze trades, keep an honest journal including feelings. Move on if called for, but don't mix and match.
Keep it simple. One method. One contract. Half a day schedule. Less than 5 trades. Respect and follow Money Management plan, even when I "know" better!
Sim is for dummies. Bull#$%&! If I cannot exercise discipline to trade in sim as I would with real money, guess what, I'm not going to be disciplined in my real account. And have not been.
Turn off the voices - no trade rooms, read less longer term financial news. Focus on immediate playing field, make my own decisions and knowing why, analyze those decisions.
Learn from the masters, but do not overload. Easy to overload on this great Forum. I always come back to Trading in the Zone. And I am committing to Perry's Paradigm as it looks to fit my style. And Perry's advice has been better than any I've ever paid for. Emulate a successful trader.
First goal is to live to trade another day. Second goal is to trade profitably.
Sounds too simple, but have never achieved either goal, for any length of time.
In the past, I've used sizing calculators, Risk/Reward/Ruin analysis, trade rules, daily rules, weekly rules, percentage stops, dollar stops, etc. And I may again. But this time I'm going to make it much simpler.
Those are the fleeting triangles that show up when everything lines up. @osir noted in Perry's new thread that a setting to True on 5.1 Show History Status on the MTFAnalizer makes them less fleeting. I'm going to watch the video again to verify and see what else makes them tick. There is a lot to take in on Perry's refinements. He colors the bars now which might interest you.
The Pack finished poorly, that's for sure. Better to go in hungry and without a bye on your last game. Next year. We've got a great bench.
You came to the right forum. Don't trade real money til you find what works for you. I've been distracted with alot of different systems, methods, platforms, etc. I'm working with Perry's new system, Ninja, and sim until I can learn to follow rules. Watch his seminar from last week and his new thread. And you can't go wrong going thru his old work either. Best of luck.
