Let’s start this discussion with the definition of a compulsion; An irresistible urge to behave in a certain way, especially against one’s conscious wishes.
Most of us have spent our adult lives either working for ourselves or for someone else. We have been trained since elementary school that in order to be successful we must possess a strong work ethic and be constantly busy as any downtime is somehow frowned upon and the spurge of laziness is quickly cast upon you by your superiors or family. Study 3 hours a day, make so many calls a day, accomplish this task, etc. This has trained our brains to associate busyness with success.
Now imagine an environment that actually rewards you for being patient and taking your time, and most importantly, not working all day every day.
Since launching Pro Trader over 5 years ago it has been our goal to re-train people’s brains and remove the engrained “compulsion” to work 8 hours a day. What we do is to teach people to be professional traders who are patient and understand the dynamics behind executing high probability trades.
it is clearly apparent that the people who can adopt this methodology are consistently making the best returns by trading less, and those that are trading by compulsion are often seeing a declining equity curve in their accounts.
With that in mind, how many trades did you execute last month?
Our current trade plan incorporates our WHALE trades and 1-2 high probability trades a week on the FTSE. This trading style has helped us achieve a consistent 100% per annum return while still having time to enjoy other aspects of our lives.
I spoke to Ken Rawlings yesterday who independently verifies our whale trades and he confirmed that if you traded just the 4 top whale trades since June 2017, the below returns would have been achieved.
EXPIRY, ORBIT, DEG AND GRAVITY (THE TOP 4 WHALE TRADES – 80-90% PROBABILITY)
June 2017: 6.35% = RESULT FROM 5 TRADES
July 2017: 5.28% = RESULT FROM 4 TRADES
Aug 2017: 5.12% = RESULT FROM 6 TRADES
Sept 2017: 7.37% = RESULT FROM 4 TRADES
Oct 2017: 3.11% = RESULT FROM 3 TRADES
Nov 2017: 2.47% = RESULT FROM 2 TRADES
Dec 2017: 6.76% = RESULT FROM 2 TRADES
Jan 2018: 4.49% = RESULT FROM 5 TRADES
Feb 2018: 6.38% = RESULT FROM 3 TRADES
Mar 2018 (so far): -0.06%
Grand TOTAL (to date): +47.26% (9 months) trading 2-5 times a month!
Through much experience we know that the more you push and try to ‘force’ money out of the market, they less you will make. You don’t need to trade every day. It’s better to focus on your best set ups and increase your leverage. Many new clients feel the compulsion to trade everything and anything that comes up, however once you have a set up that works for you, you simply need to increase your leverage to make more money, rather than hunting for new set ups… Its al about focus.
What I would like you to do today is print off your last year of trading statements and work out what you have made on each market you trade. If there is a market which is overall negative on the year then look to cut this out of your trade plan.
Also, look to start recording all of your trades so you know which trades are working for you and which are not.
Reduce your trading to just 1-2 trades a week (take only the high probability trades which make complete sense)
Traders who trade a lot or who day-trade tend to rack up the costs in spreads and commissions combined with losing trades. Not to mention, there is a very real mental cost that comes with trading a lot, it’s incredibly stressful and draining, which has a physical cost on you, as well as, your personal relationships.
You do NOT need to trade a lot to make a lot of money. Find a market that works for you and work that market.
I want you to make a promise to yourself that you will try this starting tomorrow: You will COMMIT to trading less and let the market offer you easy clear set ups. Try it and come back to me in a month and let me know how you got on. I know that if you follow through with this, you’re not only going to see your trading results improve, you’re also going to be awakened to an entirely different trading mindset, something that I hope will completely change the direction of your trading career and even your life.