You do not rise to the level of your goals. You fall to the level of your systems.
Your goal is your desired outcome. Your system is the collection of daily habits
This year spend less time focusing on outcomes and more time focusing on the habits that precede the results.
THE
#1
QUESTION I GET ASKED !!
"How did you get into SMB?"
I emailed the HR department my DRC, Write-ups/Playbooks, Weekly Reviews, and Monthly Reviews every day from 1/2023 to 11/2023
Attached below is the level of work that I was sending👇
🧵After tracking more than 60 trades with average success (still profitable), Panda challenged me to remove "C" setups over the next 20 trades & follow my plan no matter win/lose.
The results:
Win Rate: 65%
Followed Plan: 17/20
P&L: +$4,644
What I learned (cont'd)...
⭐️You don’t need to trade every day to make money. Key level + SPX momo = 🔥
Here is the log of my trades and verified P&L! If you enjoyed reading please like/RT. A special thank you to Panda for all the help and leadership.
I traded $SERV so well today!! I would put my execution up there with anyone
Feels good to make tangible progress and improvement after all my hard work
— but still so much room for improvement
Factors that lead to my success today:
- Getting proper sleep
- Following morning
Stockfetcher scanner to find these =>
//
show stocks where the close dropped more than 10 percent over the last 3 days
and the High is below the High 1 day ago
and the Low is above the Low 1 day ago
and close is above 5
and average volume(30) is above 500000
sort by volume
$NVAX vs $DJT Rollover
What are ALL the similarities and differences of this $NVAX rollover versus the one in $DJT?
Both worth going for? Why or why not?
Details plz, one-word answers not enough. Let's crowdsource thoughts & I’ll do a short video dissecting them.
$AAPL +1k (QA)
As discussed, AAPL had its WDCC event yesterday where the stock didn’t do much on the conference and closed at lows. Admittedly, I took my eyes off this name, and it only came up on my radar because of the discord call I am on with my pod mates, so shoutout to
"If you are taking off risk when there is still massive positive expected value per your system that is objectively a bad decision." -
@TheOneLanceB
My DRC goal for the past 2 weeks has been to hold winners until the EV turns negative per my system.
Best Day of 2024 for me!!
Growth = (Efficacy of time spent) x (# of hours)
You need to be doing the work that will have the highest impact on your EV. This work is often what we want to do the least instinctually
Writing up the top opps in extreme detail
Watching videos of your trading
Daily Report Card
No one is doing something that you can’t do. If you say otherwise, it is a limiting belief.
- If you want to be the best, you can
- If you want to be fast, you can,
- If you want to trade size, you can
Use negative emotions adaptively to fuel you for positive change. If you missed an opportunity or made a mistake, how can you ensure that it never happens again?
I WILL NOT LEAVE THIS OFFICE UNTIL I AM SATISFIED THAT I AM PREPARED FOR NEXT TIME
THE BIGGEST LESSON IVE LEARNED IN 2024
**When you give selflessly. You actually get more in return**
Many traders have a SELFISH mindset. They keep everything to themselves. They don’t want to share their edge, write-ups, knowledge, etc.
“As I have said, give me a blank chart and don’t tell me what it is, I can trade it, shouldn’t matter what is it.”
ty panda for teaching me the proper mindset needed to execute my trades
@pandaoptions
🐼
$tmus 140c 143c +$760 🟢
Throw the comparison game away in the garbage. Give back to others and the community. Be humble and be the trader that shares
There are 3 ways to give back; time, money, and wisdom. Everyone at any scale can make a difference!
1% Better Every Day
Everyday think of new ideas to improve your process: tweaking your scanners, organizing your baskets, talking to traders, adding trades to your playbook, tweaking your layout - this list is endless
Strive for constant improvement and obsess over your craft
$CHWY ideal execution:
1. Long on the
@TheRoaringKitty
tweet ASAP
2. Taking sales into capitulation
3. Flipping short once we turn
4. Add on rollover once we trigger backside
5. Fully cover on break of prior bar highs
GL 😁
Thought after new
@TheOneLanceB
video on the topic of revenge trading -
“I place my stops, not where I am right/wrong on the trade, but where the EV diminishes.”
By thinking this way, I am not susceptible to the pain of being wrong. I don’t add any energy to that belief
$MU is a prime example of studying technical analysis as fractals. The same principles apply to both Intraday and Daily charts.
Swing short forms when we break prior bar lows on the Daily, targeting the 20 MA:
Entry => $151.50
Risk => $157.50
Target => $135
Assuming a 40%
Trade Breakdown: $AAPL Next-Day Continuation
This was a 1-share learning trade on AAPL following a strong breakout day. I aimed to capture potential continuation after the previous day's momentum.
After hitting new all-time highs, AAPL showed incredible volume and strength the
@TheOneLanceB
My submission:
Just realized, I forgot to write about the options as they could further add asymmetry to the trade given 1dte. I will refine and write about this tomorrow morning 😂🙏
You don't need to trade every day to grow an account.
For this challenge, I waited for primed A+ setups. I only traded stocks testing big levels + SPX momentum and avoided the choppy range-bound days. Most trades had 2-3 day gaps.
Every trade had a R/R of 3x or better.
Process over Profits.
Money will be a natural result of your actions, so attach your emotion to consistency following your plan first, profits second.
Focus on 1 set up at a time, you don't need to catch every trade. identify a trade, make a plan, and execute it (win or loss).
Meanwhile, I have gained 15x the value that I have given
Other traders are
- Sharing scanners w me
- Sharing other edges w me
- Etc.
Be the trader that shares and gives back to the community, even if you get nothing in return!
Turns out you actually get more than you give 😉
Focus on the trade, not P&L.
The 3 mistakes I made were deviating from my stop and selling early to avoid losses when they didn't work immediately.
These 3 trades would have been 3 of my top winners if I stuck to the stop I had planned before taking the trade.
$META Breaking News was the easiest $100 today
- headline: Zuck announces Quest 3 mixed reality device
- tight bear flag consolidation
- tailwinds of $SPY $QQQ in your favor
- increased volume on the break
another day, another layup 🏀
@TheOneLanceB
Have to keep it brief because open is in 3 mins lol. Could write pages about this.
We should focus on the most overextend stocks because they provide the most E(v)
Overextended - using measures of price and volume acceleration and distance from above the UBB and MAV
$SMCI,
DISSECTED IN 60 SECONDS ⏱️
TPST Intraday 10/11/23
-Judging quality of consolidations
-Death candles for a reversal
-Head & shoulders short
Full library at
💭Most people don’t even know what it is they want to achieve
Write down your goals, and work hard everyday to achieve them. Take the small wins and learn to embrace the journey.
Rmbr a ship without a destination, is just a ship lost at sea
3 Key Takeaways
⭐️ Focusing on money while managing money can lead to deviating from your plan, albeit counterintuitive.
⭐️ Embrace the journey and celebrate growth, stay focused but that doesn’t mean dismissing your success
Psychology and discipline have always been undervalued aspects of trading. Listed below are the 4 most common psychological pitfalls of traders that I see:
1. Fear of Missing Out (FOMO): Seeing others make quick profits can trigger FOMO, leading you to chase risky trades you
I was recently inspired by someone that I look up to on the importance of giving back.
“No matter how big or small, we can all make an impact.”
Today, I got my first check and made my first donation!!
Posting online, to document my journey and hopefully inspire others 🙂
@TheOneLanceB
Similarities:
- Price acceleration above Upper Bollinger Band
- Weak close on sell-the-news event
- Once backside, makes a quick down leg, failure to meaningfully bounce at the MA. Holding in lower quartile
- On the rollover, great swing entry trialing prior bar highs on Daily
People often compare hard work to fire or heat… something that burns inside of you
but anyone who has worked hard will know that there are actually a lot of cold and lonely moments
its about how long you can endure it
Avoid focusing on the negative.
In the past, I would have gotten hung up on my mistakes and dismissed the progress from my other 17 trades. It's easy to get upset about 3 mistakes rather than celebrate the progress made over the 17
Celebrate growth and learn from your mistakes.
@TheOneLanceB
Concepts from VTGN are so analogous to GME imo. Waiting for the right side of the V would have prevented you from taking a rip.
Once we get tight against highs, no reason to not flip long - ALWAYS need to be listening to the chart
frustrating that I can’t trade it 🤦♂️
@PandaOptions
$xle +$530 💰🫡
Panda = goat of catching rotations
*In hindsight, I could have managed this trade better, but I didn’t feel comfortable holding into the weekend
Fun Fact - 2023 T4AC Chicago is where I got my foot in door at SMB Capital. The event is definitely worth the networking experience AND more importantly the $75 to charity
Would highly recommend ‼️
Traders4ACause is excited to announce that we'll be returning to Chicago on May 16th!
Join
@TheOneLanceB
and
@zkschell
in the windy city for food and drinks at
@BarCargoChi
from 4-7PM!
All ticket proceeds benefit
@StridesForPeace
Space is limited!
💭Where there is no temptation, there is no glory
If you’ve never been tempted to quit, you’re not doing something challenging enough. At the end of the day, the only way to grow is through perseverance.
9/25 - 9/29 TAKEAWAYS:
1. When I focus on the trades that my grandmother could make with her eyes closed, I perform extremely well. FOCUS ON THE DAMN LAYUPS!!
💭 Success is nothing more than a few simple disciplines, practiced every day; while failure is simply a few errors in judgment, repeated every day. It is the accumulative weight of our disciplines and habits that leads us to either fortune or failure.
-Jim Rohn
As my income grows, my goal is to regularly donate to more charities that I take an interest to along with the Impact Competition.
- T4AC
- Habitat for Humanity
- St Jude
- World Food Program
- Etc.
💭If these variables decrease the risk of a breakout trade, then on the flip side, they also increase the reward and probabilty of success
Essentially, increasing the EV of the breakout
Similar to how more legs/capitulation of an overextension increase the EV of the reversion
Some variables that significantly decrease chance of false breakouts / getting wicked out:
-length of consolidation
-tightness of consolidation
-how in-play the ticker is
-breaking to new prices (not in no man’s land)
-volume
Any I'm missing?
"Much liker in poker, the higher the expected value, the more we want to bet" - classic lance quote
Challenge for myself - when I see these variables in my breakout trades, I will bet 25% bigger
- would love any thoughts on this, makes a lot of sense to me but open to feedback
@CryptoGoo5e
@thelaptoplegend
Thx for sharing Goose!
After I make a mistake, I like to remind myself to “make one good decision.”
and deliberately focus all of my attention here
In sports this is called a “next play mentality”
After the trade I can be at peace with any outcome so long as I made +decision