hello traders its a samurai trader here welcome to this short video I just want
to cover a couple of ideas on putting the odds in your favor
one of the greatest challenges for us as day traders particularly is maintaining
our confidence and over 70 percent of the traders that I work with are
already experienced traders and some of them have been trading or attempting to
trade for 10 to 20 years but not really successfully and what I tend to find is
so many traders have developed the really bad habit of focusing on
individual trades rather than blocks of 20 let me explain we know that as
traders we are our own worst enemy and many of you have heard this saying by
Pogo I've met the enemy and the enemy is us when it comes to trading over 90% of
trading is psychology 5% is money management and 5% is strategy so how do
we maintain the discipline or ensure that we execute the trade now for active
day traders it's very easy to execute 20,30 trades a day as I'm about to show
you some scalping I did today so before we go to that of course we need to
understand the risk if you haven't read this risk disclaimer before or Phil
Newton you my channel on YouTube please do also if you wish to go to full screen
down on the bottom right hand corner you can go to full screen and just make it
easy to see the charts and of course all of this I cover comprehensively
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expensive software to buy etc there is now over 20 hours in the program so if
you haven't already done so please subscribe to my channel so let's go and
have a look at some chart and I want to talk to you about some concepts ah
before I do yesterday and this went out to members we were discussing the t20
trades and I mentioned on there that one of the best T 20's you can take is
after a double top or a t19 or a t89 so actually shorted 20 contracts
just as I finished that video if you go back and have a look at the video that
we sent out that I sent out last night and actually down here I was filled for
if I remember correctly 14 it come down here at touched it filled therefore
fourteen contracts and the balance were filled over here and that was a good six
or seven on twenty contracts tick per contract are really nice T20 so traders
had to show you that it was a great result so let's go and have a look at
some scalp you know I did today now many of you are aware that I'm
involved in the funds management in industry with we trade few accounts a
new service for a group that's about to start up and we're going to be doing a
lot of scalping on the ES which is what I don't normally trade I usually trade
the NQ I love the NQ but with the problem with the NQ is you can't execute
large volumes that is a hundred contracts at a time not generally
without getting some slippage so we had so I did some scalping very quick
scalping it was a great we're normally all going there as you know I'm very
focused on my trading but here I was doing some quick scalps and yes there
are all winners you can see here I did one two three four five six seven all
winners but that that really got me thinking about some think that I've been
dealing with a number of students that is really rather than focusing on
individual trades to really look at blocks of 20 now
you may remember I did this some time ago and I just want to bring it up again
because I think it's really important that you can see there that in a few
minutes what was that that was in 15 that was in a period of only about 20
minutes I'd scalp seven trades now for you as a trader if you're an active day
trader I want you to thinking blocks of 20 now you may be targeting only 10 a
day build your confidence but you put the date over here and you mark each
trade off as you do it so let me just quickly read this out in case you've got
trouble reading it I saw the top they use the following chart to tell you the
number of trades actually it should say you execute it study let me just
actually fix that if you don't mind because I'm going to mail this out you
execute each day whilst in demo mode set a target of 20 live executed trades a
day minimum remember repetition is the mother of
learning and let me just say this traders because I want to send this out
now do this also when you're live trading that is when you've got a goal
because discipline is like a muscle the more often you use it the better of a
stronger it becomes so you put the date over here on discipline focused and
patient on a sniper so for trades here over T1 T2 over T6
and t7 can be with the trend you T10 and T20 of course a change in trend
t25 with the trend 34 bounds 89 so in developing your confidence particularly
for new traders you will really want to trade with the trend so as you execute
and particularly why you're rebuilding your career that is if your has failed
and you're restarting again or if you're a brand new trader and as you know I
highlight you must execute at least 100 trades flawlessly of each setup before
you go live and when I say flawlessly of course you're going to have 20% losses
there so you're gonna have your losing trades but at least
we follow the rules now you can see here that we had there at room and renko
through with them all in great detail but perhaps this isn't a good page for
you to show because I've taken a number of trades for a whole host of reasons
here but you had a to t1-2 had another one three another to four five six
seven eight okay sorry those will tweet t25s my apologies
over t25 yet at T20 which is there then you had an 89 bounce head see
within that time you had 10 trades what this does to your self-confidence as a
trader it's like a muscle that rebuilds your
confidence as one of the things that I get every day is from my experienced
traders that have found a tough or from what I call and please no one be
offended for nervous Nellie's those that are really fearful about getting their
career underway so when you create and you run with these chart you start to
build your self-esteem you build your confidence when you're executing at
least 20 now you may be willing to do 40 trades a day great we'll just mark up 40
because you're going to execute actively and by the way that was a 1000 volume
chart you were looking at you can do 40 easily over a two-hour period now
remembering now today by the way is the 12th for fourth over fourth over 12 2015
there are a ton of trades today we had some incredible volume if I remember
correctly on the ES was 2.8 million contracts so it was very high volume
today and remembering you're waiting for the sweet spot so for students remember
you're waiting for the t34 and 89 confirms the trend trade you're waiting
for them to be not intertwined but you're waiting for them to be heading up
and angling of course very very important so I just wanted to get this
across a short video on building your confidence and building your muscle
discipline muscle by executing twenty a day and stop focusing on the one trade
okay so if you haven't already subscribed to my youtube channel please
do now for members I'm gonna send that document out some to you all if you're
new to my channel you'd like to receive it drop me an email trader at I'm a day
trader I'll send it out to you or if you've got any questions about day
trading or if you'd like to chat to me if you're considering investing in my
program drop me an email thank you traders