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Call me Vidvad - I day trade futures

  • #663
  • Feb 11, 2025 8:55pm Feb 11, 2025 8:55pm
CONFIDENCE is the secret ingredient so many traders are missing. Makes perfect sense too..it takes a special mindset to show up everyday confident in the ability to make the most of trading these unpredictable markets. Which is why every trader wants a thousand EAs and backrest results, or quotes , or books, or epiphanies. It's all to reinforce our confidence in our decision making with trading.

Which is why the overall message here resonates well....the sooner you realize you'll never truly be confident with the direction of a trade, but that you can become confident with your ability to display discipline and no fear or greed... the sooner you become profitable.
  • #664
  • Feb 11, 2025 9:05pm Feb 11, 2025 9:05pm
Quoting RickM
{quote} Hi Vidvad The best trading book I have read is not about trading, it’s about learning to be a winner. No one has ever won a gold metal at the Olympic’s without believing they have already won it already. The visualisation of feeling like a winner and then believing you are a winner is essential before you can ever become a winner. It’s impossible to become a winning trader until you believe (at least visualise the feeling) you already are a winner. Mark Minervini (hedge fund manager and best trader from the Master Wizard’s book series) visualised...
Attached File(s)
File Type: pdf Mindset Secrets for Winning by Mark Minervini.pdf   2.9 MB | 363 downloads

Attached File(s)
File Type: pdf Think_and_Trade_Like_a_Champion.pdf   5.7 MB | 373 downloads
  • #665
  • Feb 11, 2025 9:24pm Feb 11, 2025 9:24pm
Quoting T721
{quote} {image} {image}
Great work mate, thanks for sharing.

Can I expand on my thought process in this forum that I used last night when I was trading Gold Futures like several of the other traders also traded as well.

My wife comes in around 7pm “how’s it going”.
Me.. “great, just made two fantastic scalps on Gold, made some decent money”
Wife.. “oh, how much”
Me.. “I’ll tell you later”.

I had really been using visualisation techniques to trade my favourite setups just in my mind. With my “If - then” statements up on my screen, I had visualised winning huge profits on both trades using different “if / then “ statements. So I traded them at least 6 times in my head and practiced the actions I would take when they appeared.

About a hour later, a great momentum move occurred and with a relaxed confident mindset, I knew exactly how I would enter the trade. I had won before I had even entered and I won the trade for real when it happened.
The next setup occurred about a hour or two later and I was ready, I knew what I had to do.

Wife.. “you never told me your profits. Any good?”
Me.. “yes, like I said , I made $……….

This is a true story from last night
Trading thin liquidity at the boundary of the charts
  • #666
  • Edited 10:33pm Feb 11, 2025 10:16pm | Edited 10:33pm
Quoting RickM
{quote} Great work mate, thanks for sharing. Can I expand on my thought process in this forum that I used last night when I was trading Gold Futures like several of the other traders also traded as well. My wife comes in around 7pm “how’s it going”. Me.. “great, just made two fantastic scalps on Gold, made some decent money” Wife.. “oh, how much” Me.. “I’ll tell you later”. I had really been using visualisation techniques to trade my favourite setups just in my mind. With my “If - then” statements up on my screen, I had visualised winning huge profits...
Hi RickM,
I get the „be confident idea” and I think it’s the truth, but Mark M. Also said that the one has to admit that he sucks(he said it for people who think that they’re great and stop learning and I understand the point of this one too) but still I can’t comprehend these two ideas and make them work as my edge. Even tho one’s for trading process and the other one is for learning, in the end it all gets into an edge. May you, guys advice something about it?
Thanks in advance.
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  • #667
  • Feb 11, 2025 10:39pm Feb 11, 2025 10:39pm
Quoting RickM
{quote} Great work mate, thanks for sharing. Can I expand on my thought process in this forum that I used last night when I was trading Gold Futures like several of the other traders also traded as well. My wife comes in around 7pm “how’s it going”. Me.. “great, just made two fantastic scalps on Gold, made some decent money” Wife.. “oh, how much” Me.. “I’ll tell you later”. I had really been using visualisation techniques to trade my favourite setups just in my mind. With my “If - then” statements up on my screen, I had visualised winning huge profits...
We have agreement with my dear wife, if we would like to talk about my business, let's do it at the end of the month, when results for the month are in.
It is very rarely happens, as when I feel really great about the day or the week, I spill the beans and we celebrate together. I appreciate to have partner like that.

Cheers All, tomorrow is a new day and only 12th day of the month!
  • #668
  • Feb 11, 2025 11:34pm Feb 11, 2025 11:34pm
Quoting Ju4ara
{quote} Hi RickM, I get the „be confident idea” and I think it’s the truth, but Mark M. Also said that the one has to admit that he sucks(he said it for people who think that they’re great and stop learning and I understand the point of this one too) but still I can’t comprehend these two ideas and make them work as my edge. Even tho one’s for trading process and the other one is for learning, in the end it all gets into an edge. May you, guys advice something about it? Thanks in advance. {image}
You can only suck if you are outcome oriented, but rarely if you are process oriented. If we follow the correct processes then the good outcome will be our reward. If our outcome is disappointing, the fault is normally not following correct processes we put in place or not adapting it quick enough for current market conditions.
Trading thin liquidity at the boundary of the charts
  • #669
  • Feb 12, 2025 7:36am Feb 12, 2025 7:36am
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-Mark Minervini, Think and Trade Like a Champion, page 20

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- Mark Minervini, Think and Trade Like a Champion, page 104

The words you quote Rick do not appear in any form in either of the two Minervini books. Interviews I've seen with Minervini would seem to contradict how you characterize his beliefs on matters of humility.

I think you might be confusing the famous Bruce Lee quote for some reason.

True confidence grows from humility, not arrogance. Any confidence attached to ego is a weakness for the trader as such confidence would be unjustified and therefore an over-confidence.
Life itself is a privilege, but to live life to the fullest is a choice
  • #670
  • Feb 12, 2025 7:47am Feb 12, 2025 7:47am
Quoting RickM
{quote} Have a read - “Mindset secrets for winning” by Mark Minervini ... Using his words. Fear the man that know he’s already won, not the humble guy.
If you can find this quote and attribute it to Minervini, please link the source. I suspect Minervini never said anything like this and in fact I believe he himself, if he was here, would disavow it.

I know Minervini is a proponent of the work of Mark Douglas, and humility is a prerequisite for accepting the five fundamental truths of trading and the 7 principles of consistency:

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Life itself is a privilege, but to live life to the fullest is a choice
  • #671
  • Feb 12, 2025 8:20am Feb 12, 2025 8:20am
Quoting Ju4ara
{quote} Hi RickM, I get the „be confident idea” and I think it’s the truth, but Mark M. Also said that the one has to admit that he sucks(he said it for people who think that they’re great and stop learning and I understand the point of this one too) but still I can’t comprehend these two ideas and make them work as my edge. Even tho one’s for trading process and the other one is for learning, in the end it all gets into an edge. May you, guys advice something about it? Thanks in advance. {image}
Whatever Minervini might say about confidence, he never says one should not be humble.

Quite the opposite.

You are correct in your reading of Minervini.

Going forward, I'd ask anyone posting to this thread who wishes to attribute an idea to someone other than himself to post a link or screenshot or otherwise support the claim being made.

Thank you all.
Life itself is a privilege, but to live life to the fullest is a choice
  • #672
  • Feb 12, 2025 10:04am Feb 12, 2025 10:04am
Vidvad,

I totally agree with you on confidence vs humility. A friend of mine wrote his Masters dissertation on the the perils of overconfidence in trading, and then he went on to trade full-time right after school and is still at it. Confidence goes together with self-esteem, which is at the root of the issues with overconfidence - one is taking the results of trading personally.

On the other hand, I don't think humility is all you need. To stay at it and not be affected by a string of losses, one needs something else. Resilience comes closer to it, and confidence should be replaced by trust in one's process/method, and that requires rigorous backtesting and other forms of validation that don't involve wishful thinking.
  • #673
  • Feb 12, 2025 10:17am Feb 12, 2025 10:17am
[quote=medici;15147892]
To stay at it and not be affected by a string of losses, one needs something else. Resilience comes closer to it, and confidence should be replaced by trust in one's process/method, and that requires rigorous backtesting and other forms of validation that don't involve wishful thinking.


Perfect statement. Rigorous Backtesting is a must, took me a year of that before started trading live. Wishful thinking is a MindFuck at its best.
  • #674
  • Feb 12, 2025 2:51pm Feb 12, 2025 2:51pm
I got served this ad for some trading Furu on a social media site. I removed the identifying information. I also blocked out the salesy and scammy marketing language.
If you take all of that away, this makes perfect sense to me given what I am trying to accomplish at this stage of my trading journey.

One instrument, one strategy, and then one week of practice. Then, the following week, do it all over again. Same instrument, same strategy, and practice until perfect.

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Life itself is a privilege, but to live life to the fullest is a choice
  • #675
  • Feb 12, 2025 7:42pm Feb 12, 2025 7:42pm

ONE market, ONE strategy, ONE week

is all it takes to turn your trading journey into a lifestyle.

Choose your favorite futures contract, choose your favorite strategy, and trade just that instrument and that strategy for one week.

ES (US500) or NQ (Tech100)
MES or MNQ (micros)

Life itself is a privilege, but to live life to the fullest is a choice
  • #676
  • Feb 12, 2025 8:14pm Feb 12, 2025 8:14pm
"All you need is one pattern to make a living.” – Linda Bradford Raschke

“I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.” Jim Rogers

"The goal of a successful trader is to make the best trades. Money is secondary. " Alexander Elder

"If your goal is to trade like a professional and be a consistent winner, then you must start from the premise that the solutions are in your mind and not in the market." Mark Douglas

"If most traders would learn to sit on their hands 50 per cent of the time, they would make a lot more money." Bill Lipschutz
Master your Mind,,,Master the Market
  • #677
  • Feb 12, 2025 8:30pm Feb 12, 2025 8:30pm
"All you need is one pattern to make a living.” – Linda Bradford Raschke

"If most traders would learn to sit on their hands 50 per cent of the time, they would make a lot more money." Bill Lipschutz

The best 2 quotes ever.
It's better to be out wishing to be in... than to be in wishing to be out!
  • #678
  • Edited 9:39pm Feb 12, 2025 8:41pm | Edited 9:39pm
Once I got the "edge", this short is always on top of my Google bar.

Inserted Video
  • #679
  • Feb 13, 2025 1:06am Feb 13, 2025 1:06am
Quoting vidvad
ONE market, ONE strategy, ONE week is all it takes to turn your trading journey into a lifestyle. Choose your favorite futures contract, choose your favorite strategy, and trade just that instrument and that strategy for one week. ES (US500) or NQ (Tech100) MES or MNQ (micros)
Yes, absolutely, but that leaves a couple of questions to be answered:

 

  1. How do you find and validate a strategy that lives up to this? This website seems to be full of people trying to do just that but with little success.
  2. Is one week of practice really all you need? driven18, for example, seems to have struggled with "MindFuck" for more than a week. And some people speak of 10000 hours being required.

  • #680
  • Feb 13, 2025 2:02am Feb 13, 2025 2:02am
One week is a very very short time to learn to trade.

Took me several years. But it takes more time apperently for an old monkey like me.
It's better to be out wishing to be in... than to be in wishing to be out!
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