Lance Breitstein 🇺🇸🌎
@TheOneLanceB
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Ex-Trillium Top PnL 8-Figure Trader I turn good traders into greats & greats into 🐐s Advisor: @SMBCapital Founder: @Impact_Comp |
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🧨 MAGNUM OPUS TRAILER! 🧨
This trailer shows how serious I am about making the best trading course ever!
All videos are being made at this production quality & the majority will be 100% FREE alongside a premium model to recoup my costs & help support charities around the 🌎
🚨THE GREAT UNVEIL - MAGNUM OPUS🚨
Many of you have seen me reference that my top goal this year is Project MO.
Project MO = Magnum Opus.
Magnum Opus will be the greatest trading course ever made, a compendium of everything I learned throughout my career with an expected
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🚨THE GREAT UNVEIL - MAGNUM OPUS🚨
Many of you have seen me reference that my top goal this year is Project MO.
Project MO = Magnum Opus.
Magnum Opus will be the greatest trading course ever made, a compendium of everything I learned throughout my career with an expected
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$10,000 WAGER AGAINST S&P FURUS
I am EXTREMELY skeptical of one’s ability to succeed only intraday trading the s&p or similar indices.
NO BROKEN SLOT MACHINE = NO EDGE!
Yet huge FinTwit ecosystem of courses & chatrooms exist giving false hope to good-hearted people that can’t
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THE “RIGHT” SIDE OF THE V: such a powerful concept that many traders don’t conceptually understand. Just bc prices are same, doesn’t mean the e(v) in each moment is the same. Same prices on same chart can have DRASTICALLY DIFFERENT E(V)! (1/4)
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TO THOSE THAT QUIT TRADING
A few weeks ago I found out that one of my favorite trainees ever quit after 5 years in the trenches. Hard-working, grateful, fun to be around. Just a great dude. We chatted on the phone for a while and I relayed a few points to him that I wanted to
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MESSAGE TO NEWBIE TRADERS
There is a trader
@smbcapital
that is 6 months in on the job and up $4k so far in November.
He has high standards for himself and didn’t view that as a win. He has his eyes set on a $10k month in December.
While I admire aiming high, I expressed how
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Madaz,
I have a proposal for you, if you are open to it.
I’d love to spend a week or two in-person this winter, helping you refine and improve your trading.
My (draft) conditions are:
-We create free public videos of all lessons so that others can learn from our work and use
P/L: -$41.4K👎Terrible trading performance today. Got single trade max lossed on 3 separate occasions getting stuck in multiple liquidity traps on $TPST $MNTS. Got long $MNTS over highs and got rugged. Was short in the morning and got grinded back and was too early on $TPST
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MULTI-LEG MEAN REVERSION CONCEPT (MISTAKE EVERY ROOKIE MAKES)
This concept is so important that I am detailing it here for those that might not catch video I’m making on it.
1. The more legs down that a stock makes in a row, the MORE probable a bounce becomes.
2. The more legs
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MOST REWARD = LEAST CONFIRMATION
Too many traders wait for too much confirmation where EV is way worse.
Best EV often is buying the turn / breakout / news BEFORE the market proves you’re right.
Harder psychologically, but more profitable!
-TheOneDaVinciB 🎨🖼️
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DONT PUT THE CART BEFORE THE HORSE!
One of the biggest mistakes I see beginner traders make is they overly focus their time on risk management and psychology, rather than developing and refining strategies with real edge.
It isn’t that risk management and psychology aren’t
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I AM THE VERIFIED
@KINFO
GOAT 👑🐐
Yesterday I decided to takeover the
@Kinfo
leaderboard using my personal trading account. Sorry
@Steven1_994
much love & respect 🤣 (
@Kinfo
plz confirm authenticity of my
#1
All-Time Top PNL leaderboard position)
This will be the last time I
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NOBODY CAN DO THE WORK FOR YOU
I was lucky to work at a top prop firm w all the tech and learning resources imaginable. I still had to do the work. 60 hour weeks, study sessions every Sunday for 10 years. There was no substitute for doing the work.
I’m lucky enough to work w
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YOUR TRADING GURU MIGHT BE A FRAUD IF:
I’m starting a new series for all the most egregiously fraudulent Furus. Will be a funny compilation over time.
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REBIRTH - A NEW CHAPTER
Sometimes to be true to our values and maximize our growth we must kill our old identities. Identities are how we see ourselves and how we relate to the world and how others relate to us.
Today is the death of Lance the Trader. This rebirth is trigged by
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DONT cut your losses quickly and hold your winners longer.
Cut your losses exactly where your system tells you to and hold your winners to exactly where your system tells you to.
If you don’t have rules and a system… well, good luck pal.
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2023
@SMBCAPITAL
TAKEAWAYS
Over the last few weeks I’ve held over a dozen 1-on-1 calls with SMB traders and here are what I view as the biggest takeaways:
1. As with most trading years, huge chunks of PNL come from an exceptionally small percent of the opps. Most 7-figure
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People’s Champ has still got it
15/15 flawless victory
Lets run it back tomorrow
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Meanwhile, I’ll set these right here.
It isn’t that money CANT be made in futures or elsewhere. Hundreds of ways & people doing so.
But buyer beware that if your Furu doesn’t provide proof, their teachings might have NO edge.
Many unethical marketers are preying on you.
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DRAWDOWNS ARE A PART OF TRADING!
WE MUST ACCEPT THEM FROM OUR GURUS!
Part of FinTwit cleaning itself up also means that we must accept that the REAL GURUS STRUGGLE TOO!
On average, I spent 2-4 months PER YEAR in a drawdown!! Generally because of one big trade gone wrong, but
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It brings me great joy to have this public performance after blocking so many trolls last week 🤵♂️🎩 (lol @ me actually picking the bottom in CRWD after all)
Sold 85%, holding 15% big picture.
“Bedtime” now. Recap vid later tonight.
Confirmed best trade of my career 🏆🐐
MY RISKY GAMBLE!
My theory is peak panic has occurred overnight due to the capitulation in the yen / Nikkei. Largest move ever there.
I’m making the risky move of loading futures across assets and staying up all night on the bet we pare risk overnight and I’ll sleep during US.
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AUG ‘24
@SMBCAPITAL
TAKEAWAYS
1. Yes, I’m not afraid to call a spade a spade. This month was the first month in a while where I was disappointed by the performance of some of the traders.
Too many traders were overly cautious on the morning of August 5th. Too many were hoping
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Sometimes you need to start over and build a better foundation to be able to reach even higher.
Even if it feels like the same starting spot, it isn’t the same place because of the knowledge and experience you now have.
Don’t let your ego prevent you from going down a more
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MY RISKY GAMBLE!
My theory is peak panic has occurred overnight due to the capitulation in the yen / Nikkei. Largest move ever there.
I’m making the risky move of loading futures across assets and staying up all night on the bet we pare risk overnight and I’ll sleep during US.
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If I were to try a new best practice of sharing all the slide decks I use for my videos, would people find it useful to reference them?
Like = yes.
If > 100, will be worth the effort and I’ll find easiest way to do so.
(Deleting tweet in 24 hrs)
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Too many traders get upset from missing part of a move.
The point isn’t to catch every move or every part of it. That is a fool’s errand.
The point is to find the set of rules that capture the highest expected value for your system in the AGGREGATE, not in any one situation.
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“I HAVE NO EDGE! WHAT NOW!?”
Lost and confused and unsure how to find edge?
Here is my advice: every day start building a database of charts and start reverse-engineering all the big moves. This is how
@Qullamaggie
and
@lx21
developed their strategies, how my trainer and I did
DONT PUT THE CART BEFORE THE HORSE!
One of the biggest mistakes I see beginner traders make is they overly focus their time on risk management and psychology, rather than developing and refining strategies with real edge.
It isn’t that risk management and psychology aren’t
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MY H1 ‘24 TRADING STATS & UPDATE
The close today marks the end of H1. Overall, I’d rate this year a 7.5/10 so far. Some incredible price action trades, particularly with options, but less opportunities on the breaking news front.
I didn’t expect I would trade at all this year,
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Despite the haters, I’ve always respected Madaz’s transparency which is more than 99% of Fintwit.
We all have struggled.
But Madaz is open to growth & has more balls than those chirping from the cheap seats.
Excited to learn from each other, details being discussed 🤜🤛
I conditionally accept your offer,
@TheOneLanceB
, pending a couple things namely will I be trading with my own money or prop money and also your mentorship fee.
Feel free to DM me.
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MY
#1
FINTWIT OBSERVATION:
Most failing traders wrongly attribute their struggle to issues of psychology & risk mgmt.
Reality is most have ZERO EDGE.
They are naively fooled by randomness into thinking their wins are edge.
This seduces them to troubleshoot the wrong problem.
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SOMETIMES YOU JUST NEED TO TAKE THE LEAP!
One of my fav young traders at SMB has been working his ass off for ages. He was doing everything right, building a strong foundation.
I mentor and guide, but don’t closely track any individual’s pnl. So a few months ago, he reached
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Short-term rewards are becoming increasingly addictive at the cost of our long-term well-being.
Vaping, OnlyFans, TikTok, junk food, smartphone use, social media, clickbait.
To separate from these norms takes real intention. Few will be able to do so. Will you?
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Never forget that any advice you are given is always tinted by an individual’s own experiences and biases.
We must be aware of that and do our best to normalize any advice for our own situation and experiences.
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Created this annotated chart for Magnum Opus. This took me < 10 mins.
Imagine if you made a massive database of these for every top opp to skim through!? PRICELESS!
Exactly the type of work
@lx21
&
@Qullamaggie
did to build edge.
LOWER HIGH BACKSIDE TA NUANCE
IWM great lower high short today for a swing.
-Euphoric daily move
-Day B cracked hard w weak close
-Weak Day C open pushes close to Day B highs
**ADVANCED CHART TIP: Common to find lower high where high of Day C stalls close to high of Day A!**
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THE LESSON
Many assumed their fav furu would step forward:
As of now, NOT A SINGLE PIECE of proof was provided by ANYONE!
Be skeptical! Demand answers!
There ARE 100% real teachers and traders out there.
But most are frauds fleecing good people w a dream.
✌️🙏
/End Rant
$10,000 WAGER AGAINST S&P FURUS
I am EXTREMELY skeptical of one’s ability to succeed only intraday trading the s&p or similar indices.
NO BROKEN SLOT MACHINE = NO EDGE!
Yet huge FinTwit ecosystem of courses & chatrooms exist giving false hope to good-hearted people that can’t
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MY TAKE ON
@Trader_Dante
'S EDGE & UPDATED THOUGHTS ON FUTURES / FX EFFICIENCY
For those who closely study
@Trader_Dante
or have taken his EFL course:
Why does Tom Dante have edge? What are all the reasons you can come up with?
If I get all my work done today will make a vid w my thoughts.
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MY 2024 GOALS
-I start w a deep reflection of the prior year
-Many goals I carry forward each yr as standards
-MOST IMPORTANT is I then systemize & break down how I’ll achieve these, then work the process steps into my schedule 📆
-Doc is read & updated regularly 📝
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I started using Evernote in Nov ‘15 to catalog my trading until Nov ‘21.
Over that time I have 3,848 notes which are a mix of DRCs, detailed write-ups, chart compilations, & more…
~2.6 writeups per day for years.
That is what it takes to be great!
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A quick video message to those in a drawdown.
And then this YouTube video has my step-by-step drawdown best practices.
What is the longest drawdown you’ve ever been in?
What most helped you persevere through it?
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“Most important habit I built in ‘23 is writing up the best setups each week in detail & finding solutions to catch the ones missed. Not BS solutions, but detailed process changes to catch the next setup that presents itself like the one I missed.” -
@smbcapital
trader
This 👆
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Let me help you all:
If you follow anyone that speaks w certainties rather than probabilities as to what a stock will or wont do, unfollow & mute them.
Total hubris.
Not once in my whole career have I known what a ticker will do.
I should use this thread to call ppl out 🥊😂
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EXPECTED VALUE DYNAMICS: Maybe the most important ADVANCED-LEVEL topic in trading is understanding how EV changes through time. As each bar elapses, the probabilities & risk/reward of the pattern are changing with it. One’s trading & system must dynamically reflect this. (1/6)
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This week we will be bombarded on social by uninformed political views, noise, and distraction.
Shut out the noise.
Don’t engage in the pointless debates or doomscrolling.
Focus on what you can control.
Do your best to make yourself and the world a little bit better 🕊️🌎
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For most intermediate traders, the easiest way to reach the next level and elevate your game is to prudently push size in YOUR version of “easy money trades” (the free throws / layups).
As presented at the
@smbcapital
trading summit:
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I love seeing funded traders at these fraudulent “prop shops” brag about their capital. “$6m in funding” 🙄
1. It’s not your money
2. Your risk limit is like $4k on that
3. You’re in sim anyways
Silly to brag about size of a paper account.
All that matters is money in the 🏦
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END OF MY POWERLIFTING JOURNEY
I have enjoyed lifting weights since my teenage years. This is a hobby I’ve taken quite seriously at times despite never competing; only against myself to see what progress I can make and the love of learning about the human body.
My last frontier
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THE GOAL ISNT TO BE PERFECT, BUT TO BE GREAT 90%+ OF THE TIME!
It has been a pleasant surprise to see how imperfect many of my mentors and idols are.
@peterattiamd
drinks alcohol a few nights a week.
My team of sleep doctors struggle w the same trade-offs we all do.
I’ve
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TRADE WRITE-UP TEMPLATE / EXAMPLES
My trade write-up is attached.
For examples of good write-ups, in order of experience I’d look through these accounts:
@TheShortBear
@MoistMango12
@CryptoGoo5e
@brandonsochacki
@neel_trades
@OzairMadhani
@TheOneLanceB
Could you give us a template or an example of someone with a good write-up? Thanks.
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Great advice for traders.
“Dealing with the temporary frustration of not making progress is an integral part of the path towards excellence.”
“This impatience in dealing with frustration is the primary reason that most people fail to achieve their goals.”
An email from Coach Sommer I revisit often:
Hi Tim,
Patience. Far too soon to expect strength improvements. Strength improvements [for a movement like this] take a minimum of 6 weeks. Any perceived improvements prior to that are simply the result of improved synaptic
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If you have no edge, then there is NO risk management system or sizing system that will EVER allow you to win in the long run.
Tight stops or liquid markets w/o edge just means you go bankrupt in a more controlled manner.
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PREDICTOR OF TRADING SUCCESS
One of the best new hires for
@smbcapital
is
@brandonsochacki
. He absolutely CRUSHED it in April and made some serious coin as a student that hasn’t even started full-time yet 🤯
His monthly review is 34 pages long (with charts / data tables).
The
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Speaking to sushi master in Japan:
How long did it take you to become a master?
“Don’t know. Still apprentice.”
Beginner’s mind.
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The lowest hanging fruit that traders of all levels are sleeping on…. is sleep.
Sleep had the highest correlation on my pnl of any factor in my control!
I know many are rolling their eyes, but I promise you it’ll change your trading and your life like it did for Swang when we
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While the Furus flex their Lambos to suck in more victims, I’ll flex this:
A thank you letter for providing funding that allows more kids w learning disabilities to attend Camp Ramapo.
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What ONE thing, if executed properly, would double your PNL in ‘24?
Deconstruct that and build systems to ensure its achievement.
Every day you need to RELENTLESSLY pursue & be CONSCIOUS of it.
AWARENESS IS ALWAYS STEP ONE!
All else is pretty much noise.
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LAST 2022 FITNESS GOAL: ✅
300lb bench @ 168 BW / 14% BF.
Spent years training due to lockdowns in ‘20 & getting Covid end of ‘21.
Regardless of travel or schedule, don’t think I’ve missed lifting 4x/week this whole year.
Let’s fucken gooo! Bigger & better now in ‘23! 🔥💪
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MY
#1
T4AC TAKEAWAY
@Qullamaggie
said he had reviewed charts going back decades so I asked how many he’s written up.
“At least 10,000 charts in detail…”
I ask
@lx21
and he scoffs:
“Countless. Notebook upon notebook full.”
THERE IS NO SHORTCUT FOR YOU DOING THE DEEP WORK!
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One of the greatest and most relevant trading aphorism of all time is still “the trend is your friend.”
I propose a corollary for traders:
“The best trades immediately go in your favor.”
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Retail world is hysterical.
I can guarantee you not a single one of these people are anywhere near even the top 100 GOATs of trading.
Nor would I be near that list.
Half these people def would be on a list of trading Furus though 🤡
In your opinion,
Who are the top 3 GOATS of trading?
Why?
What does someone have to achieve to be given the GOAT status?
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That’s a wrap! Officually done recording the first 30 videos for Magnum Opus.
Between trading AND filming, this week was absolutely brutal 😵☠️ Thx to this team for making it easy on me!
It takes an army to make the greatest trading course of all time!
FULL CREDITS:
Rob
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Nobody achieves anything great w/o INTENSITY!
People can’t comprehend the work I put in to reach the levels I did.
Just about every Sunday I was in the office reviewing for 10 YEARS. Most on here can’t do a DRC every day for a single month.
YOU NEED TO BE FUELED BY A WHY.
David Goggins on the Huberman Lab podcast discussing the science and “How to” of Building Immense Inner Strength
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The best trader I’ve ever met is on here freely sharing trading advice. He literally is head & shoulders above me 🦒🐢
Let’s all show
@TheShortBear
some love on his way to 100k followers!
Meeting incredible friends like you has been the best part of this platform! 🙏
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If
@ag_trader
publicly verifies his trading on
@Kinfo
, I will donate $50,000 to the charity of his choice!
Tired of anon trolls talking shit w zero repercussions.
Giddy up 🤡
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Friends (Online & IRL),
In 2024, I am pursuing a project that will be incredible for both the trading community and my philanthropic work.
Much of my schedule is non-negotiable (
@Impact_Comp
, exercise, SMB, etc.). Saying yes to this project will mean saying no to everything
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Back to your regular scheduled programming next week. Had to take some time for a fam emergency 🙏
Despite everything, we pushed through & recorded all intro work for Magnum Opus. Thx to my team covering for me.
Landing page up w/in a month. On track for release by year-end.
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BOTCHED SMCI & FEELING SHITTY? READ THIS IF YOU WANT TO GROW!
Seems like there is a lot of salt in the Twittersphere this weekend. I feel your pain! Trust me, I did WAY more than my fair share of suffering the extreme rollercoaster of emotions this week… Up all night stalking
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GME - TAPE READING EXPLAINED CLIP
Normally I dont share Patreon clips, but YOLO!
This is from my June 24 Top Opps Dissected vid & adds context to what I just tweeted.
I will likely release all my past top opps Patreon vids as bonus content w Magnum Opus paid packages.
“It’s not about what is on the box & whether that’s bullish or bearish. The real importance is how the market reacts to what’s on the box.”
(Re: the 6/6 afterhours & 6/7 premarket ARCA buyer in GME.)
No fear of him returning 6/7 premarket = TOP WAS IN! Tape reading is real!
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TWO VARIABLES TO GROWTH
1. How many hours you work
2. How effective those hours are
I’ve seen many put in the hours, but into work that was totally ineffective.
The work where you grow the most is often the emotionally difficult and draining deep work.
Part of what I
@ganondalf33
@TheOneLanceB
It’s hard to beat someone that has deep passion for the trading game and has the efficiency to work on long projects and data until almost perfection.
Both Lance and I showed up before other traders, left after, sacrificed social life and were obsessed with growth.
Very
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Traders spend too much mental effort forming a view rather than just trading what the chart is telling them.
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MAGNUM OPUS LANDING PAGE IS LIVE!
Sign up to receive updates on my FREE(mium) trading course, exclusive content, raffles (maybe a couple
@Traders4ACause
Vegas ticekts 🎟️ 👀), & more!
Big news coming next week. People’s Champ has been
@WIRED
& busy 🤔🏆
🚨THE GREAT UNVEIL - MAGNUM OPUS🚨
Many of you have seen me reference that my top goal this year is Project MO.
Project MO = Magnum Opus.
Magnum Opus will be the greatest trading course ever made, a compendium of everything I learned throughout my career with an expected
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Many spend more time worrying about edge erosion than they do collaborating and learning.
These patterns have existed for decades. And will continue to exist for decades more as long as human psychology still exists.
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A trader mentoring session rarely goes by where I don’t reference the best question I received last year.
Brand new trader unassumingly asked: “If you’re always telling traders to go back to basics, why do they ever stray from them to begin with?”
Such a powerful and profound
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Sadly, the selling of market subscriptions and services is highly unregulated.
While he is only 19 years old, Furus and frauds like this should be prosecuted and held accountable.
Until then, buyer beware! 30k dumbasses following him and many paying for his discord 🤡
3 years ago I got kicked out of high school.
Today, at 19 years old - I just closed on my $2.3 Million Miami home.
Take. Risks. In. Life.
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SOCIAL MEDIA GRATITUDE:
Thank you to everyone that has reached out and expressed gratitude or let me know how much my content has helped them!
I put an immense amount of time & money into releasing FREE content bc I truly enjoy sharing what I’ve learned with you all.
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A co-worker dug up an old email from me.
Timeless andvice and Current Lance still agrees.
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FUNDED TRADER PROGRAMS (“PROP FIRMS”) - ARE THEY LEGIT?
*Disclaimer: Before you flame me, I am new to this subject & am seeking your thoughts and experiences!*
These offerings have exploded onto the scene & the scale of them, like
@ApexTradeFund
&
@topstep
, is absolutely
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What a gift to have had another year on this planet 🙏🌎
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THE POWER OF SCALPING (& DETAILED REVIEW)
@brandonsochacki
, a young buck at
@smbcapital
, found scalping elevates his game.
These “easy money trades” for HIM provide the pnl cushion to swing hard on the special opps.
Notice how detailed & thoughtful his monthly review is? 🤜🤛
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3 anonymous traders flew out their elite trading psychologist, Dr. Jonathan Katz, for a weekend of great hiking, friendship, & fantastic convos.
Jonathan & I also got to record our fireside chat. I am excited to bring his insights to the masses in the coming weeks 🙏
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SIMPLE SYSTEMS WORK
Nasdaq overextended for days now. How do you avoid taking losses fighting it?
You define the turn for YOUR system.
For me, I often use prior bar lows for in-play trending names.
No idea if QQQ will crack more, but I avoided all the cuts on the way up.
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WHAT DOES IT MEAN TO PLAY TO YOUR STRENGTHS?
In trading there are always a dozen places to expand your trading. Perhaps you want to expand into low floats or IPOs or imbalance trading?
Especially at top prop shops (the real kind 🙄), there are traders finding success in all
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The most mentally & emotionally difficult work is where the biggest gains are made.
Deep work w phone off, only charts or tape & our execs. It isn’t easy, it isn’t fun. You push through it bc of hunger to improve.
I always told ppl, my work day BEGAN once the market closed.
To access your best brain state for getting work done (of any kind), does the science say you should fight (your way into focus) or seek flow? Cal Newport explains:
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(PART OF) WHY I QUIT TRADING
Everyone that says they’ll start giving back “once they make X dollars or achieve Y” is bullshiting themselves. Bc there will ALWAYS be more money, more things to achieve.
I’ve NEVER once seen someone say enough and magically start help others if
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🕵️♂️ TRANSPARENCY IN THE TRADING WORLD 🌎
Let’s set the bar for those who claim expertise or market services! To lead the charge, I asked
@TRLM
to verify my achievements. (Ty Lee &
@TRLM
for everything 🫡👑🐐)
Take note of those who refuse to do the same 🤔
Your move Furus! ♟️
For over 20 years, Trillium has been the premier place to start and grow your trading career. We are proud to have played a role in
@theonelanceb
success and are happy to validate his history with us.
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Last night confirmed Biden is not mentally fit for office. Total embarrassment. His family and friends need to take him aside.
Trump is not morally fit for office. Total embarrassment.
Replace Biden with any centrist and do the world a favor.
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EASY MONEY TRADES MAKE TRADING CAREERS!
My presentation from the incredible 2024
@smbcapital
traders summit is now live!
CC:
@traderkylec
(might be useful given our last convo)
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A LESSON ON VOLATILITY AND RISK
(As e-mailed out to SMB Traders)
Q: Lance, was it better to trade a basket of banks (JPM, BAC, KRE, C) together or to move my risk into the one or two opps likely to go up the most?
A: The best place to allocate risk on Friday was the most
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The 3 biggest advantages in trading over poker?
-As you scale & increase bet size, the skill level of opponents doesn’t improve.
-There are no blinds or ante. You can be as patient as you want.
-You can collab & operate in a pod!
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MUST-WATCH INTERVIEW W
@HUMBLEDTRADER18
So much 🔥 for beginner & even elite traders!
-Power of easy $ trades
-How to accelerate learning
-Why we need more 👩🏼 in trading
-And 🪺… my JAW-DROPPING Jan/Feb ‘21 PNL (VERIFIED)
Thx Shay, such a blast! 🙏
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Sharing publicly bc I claim 100% of Patreon proceeds go to charity.
Along w my match, we donated $159,000 to the Fred Hutch Cancer Center ()
This model inspired me to do the MO course. Off to LA to begin filming tmrw. No more trading from me ✌️
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Trading is highly competitive & emotionally charged. We’ll never be Zen masters.
The most competitive people use negative emotions to fuel growth and change. To not change is too painful for them.
Frustration can fuel incredible growth as long as it’s used constructively.
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Too many traders wait for too much confirmation & then the EV is no longer any good.
Best EV often is buying the turn / breakout / breaking news BEFORE the market has agreed you’re right.
Also plz call me TheOneDaVinciB for my epic chart scribbles 🎨🖼️
@TheOneLanceB
I had a question.
In one of your podcasts, you'd mentioned that the expected value is the highest (within your setup) when there's uncertainty.
Can you elaborate on how this plays along with right side of V trading?
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2 goals I LOVED from a mentee:
-Treat market hours as sacred; dont let the outside world distract you from 8:00-4:15. This makes it easier to trade in the zone.
-Beware fake-productive activities like podcasts / reading that feel good but arent the true work I need to improve.
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BEST PRACTICES ON PNL HOLES: Common Q asked of me on twtr. Simplified for brevity / twtr consumption.
1. Cliche but true - best way out of hole? STOP DIGGING! Cut daily limit or shutdown until clear-headed. Immense strong emotion to “bet bigger & make back”. MUST FIGHT THIS!
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% OF ACCT TO RISK IN A+ TRADES?
One of the great discussions brought up at Friday night’s trader dinner was going around the table hearing opinions, working towards an answer on this.
Opinions varied wildly! 2%, 5%, 40%!!
Why?
Because the answer depends on 2 things:
1. The
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Curious:
If you are struggling rn as a trader and don’t mind sharing, what do you think your biggest constraints are?
What do you think is the difference between your current skill and achieving the level you wish to be at?
Replies will help me target content.
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"You can't change your past, but you can reframe it.
Find the lesson in it. Find the opportunity in it. Pull the teachable moment out of it and share with others.
You can't choose your history, but you can choose the story you tell about it."
-
@JamesClear
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