A question arrives from TN reader, Ian B:
Don’t know if you remember me, Ian B, the newly disciplined trader)!
from your Plug In Trader, which I bought a while back…
I mentioned a while back that I would be greatly interested in something akin to plug in trader, but on much shorter time frames, with pre defined stops/targets.
As I said before, they really have worked wonders for me, as regards bringing much needed discipline into my trading
Hoping this will fit the bill. Please let me know if you have time
Yours in anticipation,
Ian B, (the newly disciplined trader)
And here’s my reply:
Great to hear from you and I’m so glad to hear you’re making good progress with your discipline. This really is the springboard for successful trading so it sounds like you’re well on your way
Yes, I think you’ll be very interested in the method that’ll be heading your way soon.
It’s similar to Plug-In trader in that you’ll have clearly defined entry points and fixed stops/targets but we’ll be dropping down the timeframes to analyse intraday action.
This means you’ll have a new set of trades to consider [across all 5 markets] every night (if trading end-of-day).
Anyway, watch this space and I’ll keep you posted!
All the best,
It really is good Ian found a solid way to work on his discipline.
Even if it means he might have to grind-out the inevitable flat periods any strategy must go through!
He knows all he has to do is knuckle-down and follow the rules.
And when he looks back at his record of results after 6 months, a year, two years, he sees the blips and bumps are all part of the mix.
It’s simply business as usual as far as trading goes.
And the cumulative result his mix of winning trades and losing trades produces is what matters.
NOT the outcome of any one trade.
Or the result of any one week.
Or any one month.
Trading is a long term venture. You’re in it for the long haul to make money on an ongoing basis. So it makes no sense to have long-term profits in mind only to mentally live or die by the result of each individual trade.
This is easier said than done when real-money is involved and emotions are high, I know.
But that’s precisely why it’s so important to have an operating strategy – a set of trading rules – you can trust and put your faith in.
Anyway, if you too would like a solid methodology that can block and neutralise poor trading discipline, thereby releasing your true trading potential…
Or if you’d simply like to track institutional order flow and learn how to find high-probability trades with a simple yet rarely used ‘market X-Ray’ tool…
Keep an eye on your emails.
I’ll be sending you more details of my new strategy very soon.