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I got a few really good takeaways, chief among them is asking yourself what are your issues? and the common thread among almost all afternoons with FIO members, lots of analysis about trades, self, and the self that trades. Oh yes, the comment that if you don't know what is going on in other markets than you won't understand a move in yours was really helpful and will likely get me to broaden my scope. I have seen that in action, but it didn't click till I heard you say it.
I couldn't attend, but I have two quick questions if you could address that would be great.
First, how do you deal with the risk of ruin involved with leverage? You did not say how many contracts you trade, but you did hint that capitalization is tough, so, I wonder how do you deal with the 100s of thousands of dollars you are liable for when trading NQ.
Second, how do your approach to trading the news evolve? You mentioned you traded price and and volume and you showed insight into that, but I am unsure how you came to trade planning with news in mind.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
I thought it was excellent and that @SoftSoap illustrated beautifully the discipline required to become a successful trader. All the beginner traders out there should watch this, it's not glamorous, but trading (even sucessful trading) rarely is. Another lesson beginners could take from this, is the amount of work, that ISN'T looking at charts or trying to design holy grail indicators, that is involved in becoming succesful.
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
It was the best presentation that I have not seen for a long time. What impress me the most was that he is only trading for less than a year and he is already good and on the right path...
Make me thinking... who was he in his past life?
