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My Trading Quest - a 90 day Trading Course Challenge
I have been asked a question about what psychology books I recommend.
There are many books, courses, and articles on trading psychology, so it is important to find someone who resonates with you. Mark Douglas doesn't resonate with me but many people rave about him.
So, my suggestion is to go to youtube and listen to Mark Douglas as his books and seminars are there to listen to. See if he resonates with you.
I have highlighted my favorites
Other people on youtube to check out are:
Brett Steenbarger - he has a new youtube series [yt]https://www.youtube.com/playlist?list=PL4Xc9uwUmmqShzbxH8epZGVIUHmuKX7Ha[/yt]
Rande Howell
Urban Forex
Axia Futures
Mandi Pour Rafsendjani
Clay Trader
Chris Capre
Van Tharp
Steve Ward
Gary Dayton
Norman Hallett
Books and Courses
All of the above plus
Market Mind Games - Denis Shull
Reminiscences of a Stock Operator - Edwin Lefevre
Sway: The Irresistible Pull of Irrational Behaviour - Ori and Rom Brafman
Let the Trade Wins Flow - Dr Harry Stanton
Thinking, Fast and Slowly - Daniel Kahneman
The Mental Edge in Trading: Adapt Your Personality Traits and Control Your Emotions to Make Smarter Investments by Jason Williams
The Psychology of Trading: How to Create and Maintain Your Winning Edge - Jason Alan Jankovsky
The Power of Habit - Charles Duhigg
Trade With Passion and Purpose - Mark Whistler
The Hour between the Dog and Wolf - John Coates
Ruth Barron Roosevelt
Dr Alexander Elder
LR Thomas
Ari Kiev
Yes, I selected a lot! You can learn from everyone. Note that some are not "trading" books but they do relate to traders.
LR Thomas, Clay Trader, and Axia Futures have some very good beginners material on Youtube.
When you find someone you relate to then you can go down that rabbit hole but remember it has to be practical.
These are the ones off the top of my head and if I have missed anyone I think is important I will post it.
Listened to the trading room for the first 90 mins of the US Open
Start of the Sim Trading Phase
Reviewed the potential trades for Sunday and Monday for ES and NQ
Start of the Sim Trading Phase
Sim trading didnt start great with my profit target wrong in the first trade and the second not being a valid trade.
If I had my profit target in the correct position then it would have been hit. So what did I do wrong? My NT7 platform had a problem so I rebooted it and didnt check my settings!!!
The second trade was a simple mistake and still hit my profit target. As it wasnt valid I did not count it in my numbers.
Overall my results were a good start even if I didnt hit my daily target.
Below are my results of possible trades and sim trades.
There appears to be problem posting images so the following are links to the results
ES Results
NQ Results
I will report back tomorrow on my progress and any lessons I learn
DAY 28 Apex Sniper Trading Bootcamp Daily Review
Today is the second day of Sim Trading
Actions I took:
Listened to todays webinar
Listened to the trading room for the first 90 mins of the US Open
The second day of Sim Trading
Reviewed the potential trades for Tuesday for ES and NQ
Todays Webinar
Over the last couple of weeks Apex have introduced two new trade setups and a third one today.
I have learned them (easy) and watched them on the live charts. I have decided, not to use these until I have results from the original boot amp setups. I will keep watching them to see how they perform.
The Second day of Sim Trading
First, I have a question. Should I post my charts or just the results like below?
The following are the 3 trades that I traded today.
2 ES and 1 NQ trades that all went to target. Total Profit $210.
The running P/L for 2 days of Sim is $312.50
I didnt make any mistakes today and achieved 3 0 and then stopped trading.
The question is how to work my modified 3 3 when I am trading two instruments of different values?
My options are:
Ignore the value and just stop at the 3 wins or 3 losses?
Balance the instruments by trading 1 ES and 2 NQ per trade?
Trade the mix until I profit $250 Net or Lose $250 Net?
Apex investing suggest when trading for funding, that you use the second option (1 ES and 2 NQ)
I will review these options to see what I prefer.
Potential trades for Tuesday for ES and NQ
Good trades could be found on both ES and NQ.
The Potential Trade stats look really good with an average of over 90% win rate.
Even though it would appear that the potential is there, you must remember that these are based on 23 hours per day and the sample is still relatively small. The indications are great but the real results becomes reality when you trade live.
I will report back tomorrow on my progress and any lessons I learn
Disclaimer
avidly following this thread. big thanks for doing this, my friend. really wish someone had done this a while ago.
traded forex quite heavily for 4 years and looked at all kinds of trading / mentoring courses. here are my 2 cents:
1. the old saying " those who trade don't teach & those who teach don't trade" may have some merit. as trading (at least for me) is such a full time endeavor, i.e., screen time, journaling & analyzing, tweaking the system, etc. couldn't understand how someone can find time to teach / mentor while also trade full time.
2. but i can't rule out the possibility that there are real deals. he/she may just like extra income from teaching (so essentially work two full-time jobs, trading AND teaching), and / or genuinely like to teach. but I haven't been able to find these "rare creatures".
3. like your attitude re. some training experience you had. even if things didn't work out, you still learned something. also, even if a particular training doesn't work out, can we entirely blame others? trading is such personal thing, a fantastic system for one guy may be a total disaster for others. also a good trader may be a terrible teacher.
Yes, please post charts. I have enjoyed following along and appreciate your methodical documentation. I go back and review my charts based on the times you placed the trades to see if they are similar to the ones I traded in my sim account. Thanks for all your work on this.
Listened to the trading room for the first 180 mins of the US Open
The third day of Sim Trading
Reviewed the potential trades for Wednesday for ES and NQ
The Third day of Sim Trading Losing Day
I had a busy day so could not focus on my trading. (Lesson 1)
Lesson 1 I missed several trades because I was not focussed I need to remember to walk away and come back when I can focus.
The market had some big moves and was very fast most of the US Day. (Lesson 2)
Lesson 2 The markets were so quick that I didnt have time to ensure they were valid. There will always be another trade so I dont have to take the potential trade in front of me.
What I did right, was not to take revenge trades or trades that I was not sure were valid or didnt have time to validate.
Today, I live sim traded 2 trades, 1 ES (Loss), and 1 NQ (Win). Total Loss $190.
The running P/L for 3 days trading 1 contract on Sim Live is $122.50
If you look at the chart below you will see the bar on the left has a black number above it (13K). On the fourth bar from the right, you will see a white number above it (18K). As per the normal rules of divergence it requires for a short to have made a Higher High and the indicator makes a LL.
I find that the OD divergence is very accurate. It would require for this example, that the second OD number be at least 80% of the first but preferably 50%.
At the time I took the trade (Arrow marked OD Short), The bar had an OD number of approx 60% of the 13K. I took the trade, was stopped out and when the price went higher, the OD moved to the HH. I know that the OD number is dynamic but I have never been caught out by this before. At the time I entered it was a valid trade.
The trade became a valid trade where the second arrow (marked Missed Valid). I missed this trade as I was still reviewing the loss (Lesson 3). This trade was two types. First a DR Divergence trade and secondly an Enhanced trade.
Lesson 3 Be in the NOW and focus on the chart
DR Divergence
Below the chart, you can see the red and green histogram. This is the trend direction indicator. Note below the first OD Short arrow compared to below the Missed Valid Arrow, this indicator has two hills. Price made Higher Highs and the DR Indicator made Lower Lows therefore DR Divergence.
Enhanced Trade
There are a couple of different forms of enhanced trades but this one is identified by:
Reversal Bar
Red Box at top of the bar
New White Line (MM) from the bar
An existing line (orange PP)
The first Chart is the ES Trade
Trade 2 Review NQ Short OD + DR Divergence
This was a simple trade and the reasons I took it is explained above.
The following is the trades from the NT7 Summary Panel
Potential trades for Tuesday for ES and NQ
Today, especially during the US daytime was very fast on both markets. NQ was quicker then ES.
In my list of potential trades for the day, I have not listed a number of trades as I would consider them not to be realistic trades.
Apex Investing does have a Semi-Automated program that would have helped to get into quick trades. I believe that this program is for more experienced traders who already know the rules and can make super quick decisions on the validity of the trade. I have heard only good things about the program but have not yet used it.
I will report back tomorrow on my progress and any lessons I learn
