Would you like to become a professional trader or just improve your results? What is your idea about trading for living?
The mindset behind a successful trading career might surprise you. Process is more important than prediction. Repeatable work, that you do again and again, is the secret sauce of the trader. So, before you ask for our market opinion, please define a process. Because, if you don’t have a process, even if you get one trade right, you’ll be dependent on someone else for the next market call.
So, let us help you build your process. How do you do that? Here’s an introductory video that describes trading as a profession that’s a good first step.
We believe we know the Holy Grail of trading. It is not a mysterious black box system you can buy; it is not a single algorithm or a unique indicator setting either. Instead, we believe The Holy Grail is within each trader, but it must be uncovered. You do that by leaning to read charts through practice and experience – which will eventually lead you to create your own trading process.
People often ask for my market opinion; but, I’m reluctant to share it since one tip isn’t going to help them long term. What would help long term is a true understanding of a trading process, solid chart reading skills and an easy, almost mechanical, trading system. If they had that, then they won’t ever need anybody’s opinion or even any market “news.”
Once you’ve developed your skillset, then you can make decisions based on the ultimate source of profit, actual price action.
Consider your profession for a moment. In it, you have an edge that you built while learning and applying your skills. You grew and became a master by experience. Consider trading a similar profession, where you need a certain edge, a skillset to be successful. So, back to the original thought, is a tip going to provide you with the skill that you need to succeed in trading? Against seasoned professionals who trade, and work on their craft, for living?
We created Trader Skillset to introduce our process to traders who are serious about developing their skills. We believe our Context-Momentum-Signal process, is exactly what traders need. We also added a fourth key area, “Mindset,” which is a lifelong learning area, where we hone our craft.
As traders, our main focus is not interpreting news, predicting the future or analysis. Yeah, we start with context analysis, which is kind of a forecast at first blush; but, the focal point is always optimizing our current decisions and actions based on risk, reward and probability – rather than predicting the future. We do so in the largest casino around, the world’s financial markets. But, we are not gamblers in the casino. Instead we like to think of ourselves as more like the casino owners who benefit from having the rules of the games tilted to their advantage. We play games where we can win often and where the odds are with us. We do not win all the time, but we make sure the odds are in our favor. How do we do that?
We have created three action plans. One is for strong, fast moving trends; another one for slow, decelerating trends and a third for ranging markets. Which plan we actually use to trade is determined by our context and momentum analysis. The key is to adjust our action to the present market conditions. We call it “structured flexibility.”
Remember trading is a profession not a form of recreation. As traders, it’s our job to process information, prices and momentum, in order to form setups that are worth a trade. Come join us here at Trader Skillset, where we show traders how to become professionals. We’ll help you set up a process, learn to read charts and, most importantly, identify setups that are worth a trade.
If you have any questions or comments, please drop us a line.
The time zone we reference on our charts is Pacific Standard Time. Therefore, the U.S. cash market opens at 6:30 AM PST and closes at 1:00 PM PST.