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Oh, the Places You'll Go!

Posted on 10/19/2021

 


“You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You're on your own. And you know what you know. And YOU are the one who'll decide where to go...” ― Dr. Seuss, Oh, the Places You'll Go!


Anything is possible when you develop the skill of active trading. It may take weeks, months or even a year but the reward for such effort is enormous.

A member emailed me to say she never thought she would make the money that she has as a result of trading.


The setups I teach are not complicated and can be easy to trade. Setups like

Momentum Burst Stocks that move in sharp burst of 3 to 5 days


Range contraction Period of range contraction is followed by range expansion. This setup is ideal for low risk entry.


Earnings Reaction A Stock price will react positively or negatively to earnings surprise. We focus on stocks with big earnings surprise.


Exhaustion Buyer or seller exhaustion leads to turns. We look for buying exhaustion to short and we look for selling exhaustion to go long.



Members Feedback :After negative year, back to account all time highs!

Posted on 10/14/2021

 gravatarnurih4:57 PM Oct 14th 2021

After negative year, back to account all time highs!


Months and months and months months and months of chop and 6% drawdown from February’s ATH in personal account. Not to mention the amount of $$ lost selling late in February or paper profits too.

emailed EG and paid euro bootcamp in July. Joined EG forum here last week July. Deep dive , study, attend all calls, innovate and lead, network and part of members group in this EG site

..wanting to quit over and over and over and over

October , it all clicked, and now back to account ATH!!

today sold major in strength. EG always says professionals sell and peel into gap ups. Took full advantage.


now looking to make the return for the year now that back to account ATH of February 2021. Only took almost a year to get back.


it’s possible. One day after you keep studying, you will get mind clarity.


how will you know? Your trades become effortless. No second guessing. Like EG says, if it works it works. If it doesn’t, who cares.


but your eyes get better and you spot higher probabilities setups. You also know peel and take risk management seriously. Ans most importantly you never forget humility and the game is to extract free money.


Thanks to EG, his boot camps, his calls, and all the members here that I’ve been networking and learning from. Even reading experienced members archive has been gold. Let’s go!




https://stockbee.podia.com/november-2021-bootcamp

How to get started in trading

Posted on 10/10/2021

 

On membership site I would be having a series of zoom meetings starting Monday.

These 4 meetings will give you basic understanding of trading and how to put together your trading approach .

Will help both beginners as well as established traders.


4 pm to 5PM Monday to Thursday


Monday: The basic questions every trader faces at beginning

Tuesday: How to select your timeframe and frequency

Wednesday: How to build skills in your selected timeframes

Thursday: How to compress your path to profitability

Anticipation setups for 10/5/2021

Posted on 10/05/2021

 Market are under correction and shorts have been working well. There are not many good long setups in these conditions. Follow through on short setups has been good. 





NET is one stock I am monitoring for possible short if it breaks down from here.



RRC I am monitoring for a possible short as it is extended and likely to pullback 10% or more quickly  



How can you get confidence to be able to handle your own account and make 100 million dollars

Posted on 9/19/2021


You need correct market knowledge and correct skills. That will require effort and time. Once you start on that journey you will start gaining self efficacy.

The most important determinant of your success in trading or in your personal life is your self efficacy beliefs.

Once that is in place your self talk will change to "hey I can do this", "hey I don't have all the answers but I am confident of finding the answers", "hey I know how to bounce back from setbacks" .

Self efficacy beliefs are task specific. So your personality is determined by hundreds of self efficacy beliefs you built throughout your life.

The process of developing self efficacy beliefs is at peak when you are a child and a pre adult. For many of us in our adult life we stop actively growing (except for our weight -:) . We operate at a certain level of self efficacy beliefs and get stuck in a orbit. Unless events or life events, or opportunities force us to examine our belief we become very comfortable with them

When people attempt trading some find early success and some find early setbacks. That experience sets your self efficacy beliefs. Some people give up believing markets are too difficult or manipulated or beyond my understanding . Their self efficacy beliefs dictate their behavior.

Once your self efficacy beliefs specific to trading change you will start experiencing success. That does not mean you will not have setbacks. If you have high self efficacy you will find a method. If you don't have it, even the most profitable method will not work for you and you will keep finding faults with methods.

Self efficacy beliefs is the biggest determinant of your trading success. This is true of life as well. Your self efficacy beliefs determine your success in any domain. Unless you work on self efficacy you will find many inhibitors and will be constantly dissatisfied with any method, guides, videos, or instructions, or site. You will constantly chase new methods, new scans, new claims, new gurus, new newsletters, and so on.

The self efficacy beliefs theory is not some tin foil hat theory I coined or invented. Albert Bandura first wrote about self efficacy in 1977. His research on self efficacy is considered most influential in developing social learning theories. His work revolutionized our understanding of human behavior, destiny, character, personality, and so on. He is considered the greatest living psychologist.

Anyone who has taken a course in educational psychology or worked in training industry or in human resource field would be very familiar with Albert Bandura's work.

He defines perceived self-efficacy as people's beliefs about their capabilities to produce designated levels of performance that exercise influence over events that affect their lives.

Self-efficacy beliefs determine how people feel, think, motivate themselves and behave.

He postulates that self efficacy beliefs determine whether or not a certain behavior or performance will be attempted, the amount of effort an individual will contribute to the behavior and how long the behavior will be sustained when obstacles are encountered.

Every immigrant who came to this country for last hundreds of years had high self efficacy beliefs. People with high self efficacy beliefs left their poor and difficult circumstances to come to this country to find better life. All that they had when they came to this country was high self efficacy beliefs and few dollars. They had the confidence that somehow they will build a better life in the New World.

If you go to Ellis Island you will see the stories of people with high self efficacy beliefs who left poverty, famines, religious persecution, imperial regimes, and came to this country. There is an half an hour documentary they show and if you see it , it is a very emotional story of people with high self efficacy beliefs leaving their country, families, friends behind to come to this country and build a new life and new future for themselves and their next generation.

Same way self efficacy becomes very critical in learning complex skills like trading and if you want enduring edge and success.

Psychologist have found that self-efficacy beliefs help determine how much effort people will expend on an activity, how long they will persevere when confronting obstacles, and how resilient they will be in the face of adverse situations. The higher the sense of efficacy, the greater the effort, persistence, and resilience.

Profitable trading involves all these challenges. You need to put in lot of effort to understand and internalize key concepts like equity selection, entries, exits, risk, risk/reward and then put it all together. In the process you will have several setbacks and false starts. If you have enhanced self efficacy beliefs you will persist in face of such adversities. If you have high sense of self efficacy beliefs then you will spend time mastering trading software, and mastering trading setups and make them work. Absent that you will abandon your effort at first hint of failure.

Learning to trade is not an easy task. It is one of the most challenging task you would handle in your life. Some are lucky and they find success instantly. For rest it is a big battle.

People with a strong sense of self efficacy beliefs approach difficult tasks as challenges to be mastered rather than as threats to be avoided. They have greater intrinsic motivation. That helps them to engage for long periods in activities and helps them overcome repeated obstacles. They do not have discipline problem. You will see this in all people who achieve something beyond ordinary in their life. They are driven people. They have a high tolerance for failure. They don't have all the answers but they know somehow they will find the answers.

Sometime back I was reading a study on entrepreneurs and it says most of the fortune 500 businesses were started by people with less than 10000 dollar. What they had was high self efficacy belief.

Same is true of most successfulness traders. They started with small stake and through trial and error and persistence figured it out and then made great fortunes.

People with high self efficacy beliefs set themselves challenging goals and maintain strong commitment to them, and heighten and sustain their efforts in the face of failure. People with high self efficacy beliefs quickly recover their sense of efficacy after failures or setbacks, and attribute failure to insufficient effort or deficient knowledge and skills that are acquirable rather than external circumstances.

Your self-efficacy beliefs also influence your thought patterns and emotional reactions. This is critical in trading. You should not be overly excited by profit on single trade and same way not get depressed by loss on single trade. At the end of the day trading is probability game. High self-efficacy helps create feelings of serenity in approaching difficult tasks and activities and activities where outcome is uncertain.

If you have low self-efficacy beliefs then often you believe that things are tougher than they really are. As a result this belief that fosters anxiety, stress, depression, loss of discipline, over trading and a feeling of being lost. You are unable to solve your own trading problem.

Psychologists believe that self-efficacy beliefs influence the level of accomplishment that one ultimately achieves. Self-beliefs can also create the type of self-fulfilling prophecy in which one accomplishes what one believes one can accomplish. This further enhances self efficacy beliefs. This leads to higher performance this in turn leads to higher effort and higher accomplishment which in turn further enhances self efficacy.

The goal of this site is to constantly challenge you to enhance your self efficacy beliefs. To constantly goad you to keep working on your self efficacy beliefs. To challenge your existing beliefs. To provoke you to examine your current beliefs. To offer you a template for enhancing your self efficacy beliefs.

If you do that then you will achieve your trading goals. And you will not need this site, or alerts, or alerts with sound effect.

Everyday think of how you can enhance your trading related self efficacy beliefs.

August Bootcamp August 20th to Saturday August 28th

Posted on 7/30/2021

 If you want to develop an enduring edge, dedicate 9 days to get an in depth look at methods that work.  Many Stockbee members have made these methods work for themselves. 


This bootcamp starts Friday August 20th and will run until Saturday August 28th.


Current Price $450. 


The course includes live and recorded sessions as well as individual assignments. 

https://stockbee.podia.com/august-2021-bootcamp


Live Sessions will be on Saturday , Monday, Wednesday, Friday

Live sessions will have two time to suit most people .

Morning will be 6 to 8 am . Evening will be 8 to 10 PM ( These sessions will be repeat sessions to Suit Euro and US time zones)

The Rest of the days is for video lessons and Deep dives.


What is different in this boot camp compared to previous one..

The time available and technology available to do this allows me to do things differently and go in to significant details. In a 2 or 3 days boot camp it is a race to focus only on  important thing. That is not a constraint here as it is week long effort along with pre recorded videos.

Swing Trading all setups will be covered with added emphasis on execution. It will have Deep dive built in . It will have details on setting scans, charts, orders, etc.

Working People all details will be covered. Again will have videos on all scans , process, daily opportunities and managing them . 401k, TQQQ, Country in Trouble,

Day Trading . All details of my setups and how I execute.

Market Monitor : entire section going in to details of all scans , chats , colors and how to use it.

Situational awareness : details of how to develop and use it

Psychology: details of possible ways to handle trading issues. visualization

Trade Execution

OLC Organizing like crazy to make profits 


The technology allows us to drip content , so once you finish say a deep dive you get to see bonus videos.

Technology allows us to drip more videos post bootcamp based on questions.

Because lot of this is pre recorded it gets over problem of maintaining flow without getting distracted by unrelated questions by participants

All and all this will be very exhaustive bootcamp with anticipated 100 plus videos and background material .


Only way to sign up for it is by using the link.

https://stockbee.podia.com/august-2021-bootcamp

2021 Bootcamps

Posted on 7/16/2021

 

Euro Bootcamp (This is most popular and recommended)

Rated as best bootcamp so far by members who have attended multiple bootcamps 


https://stockbee.podia.com/euro-bootcamp/buy


Hello fellow members,

I have just gone through the EURO Bootcamp and I'm very impressed.

Euro Bootcamp Review: I'll keep this short and concise, the best trader education I have come across.


April Bootcamp 

Same topics as Euro bootcamp but with more emphasis on tactics.


https://stockbee.podia.com/april-2021-bootcamp/buy


Are the bootcamps very different?

I attended both. There were nuances of learning that were new to me in the second one, so I would recommend getting both. I believe I can get a quick ROI on my investment in these bootcamps as I make the time to review and peruse them, and as I improve my daily practice from knowledge gleaned from them

leroyr



Swing Trade Only if you understand the game

Posted on 7/12/2021

 


The objective of swing trades is to generate .1 to 5% return on your account per trade while keeping draw downs as low as possible.

Swing trading methods became popular as antidote to trend following methods that were very popular but were leading to wide swings in account and draw downs.

As cost of trading decreased and spreads between bid and ask narrowed they became mainstay of active traders and hedge funds, Wall Street banks and now quant funds.

Swing trading has existed for hundreds of years for the same reason, that is it allows you to grow account without big draw downs like trend followers have. It helps you avoid the ulcers involved in trend following.

At one time largest amount of capital was allocated to trend following methods. Today only relatively modest amount is in pure trend following funds.

Swing trading also evolved as a way for small accounts to grow their account rapidly by doing several trades and not seating in dead trend periods. Schwab lowered commissions to 39 dollars (from typical 100 dollars plus each way) and that led to swing trading boom. Subsequently commissions have kept on decreasing. Now they are zero.

Ever since then Swing trading as a style as coexisted along with position trading and trend following and has become main style of trading. For all the sophistication involved in quant funds, at heart it is just swing trading method using high powered computers.

When you gun for 3 to 5 day moves, you have to do several hundred such trade in a year to make a difference to your account.

Success rates in swing trading is 50% or so. Success rate in trend following is 20 to 25%.

Which means you need to do upwards of 500 plus trade to make big returns in swing trading. A

Swing trading is primarily high volume game with low per trade profitability. You can increase your per trade profitability by increasing your per trade risk or using 80 /20 sell and hold tactic I use.


For a beginner I personally think swing trading is easier to learn than trend following or position trading.

Things you do hundreds of time , you can learn quickly. If you are going to make only 10 position trades in a year, by the time you realize whether you learned anything , years will be gone.

Do a deep dive

Posted on 7/08/2021

 

If you want to trade a particular setup then do a deep dive on that particular setup on past 1 to 3 years market data.

Look at at least 1000 to 3000 past examples of that setup and note down your observation. From that study create a pattern book.

When you do deep dive look for variation of the setup. Same setup has many variations. Note that down.

Study the range of moves the setup makes. Note what happened before start of the setup. Note what happened during the setup progression. Not what happens when the setup ends. Note the number of days of market moves. Note the magnitude of the moves.

When you do a deep dive like this on 1000 to 5000 setup in short time period of days or weeks you understand this setup and it becomes part of your way of thinking as you have invested significant brain energy in that activity. As a result you become good st identifying it in real time.

Psychologists have word for it called Mastery Experience. That experience changes your beliefs about that particular ability to find that setup.

Once you do a deep dive and you master a pattern next challenge is to execute it in real market environment. This requires innovation and process flows. You try one way of doing it , if that does not work you try another way till you find way to do it. Process hacking is how humans develop ways to make things work.

There is another way you can speed up this process. You watch others do it and then mimic their actions. Human learn many processes and gain knowledge this way. Procedural knowledge is primarily gained this way. The psychologists call that vicarious learning . This can speed up learning very quickly. This is why humans like watching how to videos. Many things we learn this way in single trial.

While you are doing deep dive or attempting to trade this particular setup , the social surrounding and messages you get is important. If while attempting this say your boyfriend keeps telling you , you will never make money trading or it takes years to become good at it then you will be influenced by that social conditioning. As against that you are in an environment where you see other doing it successfully and encouraging you then you put in more effort and try to make it work. Psychologists call it social conditioning.

To do a deep dive like this you need to be in healthy state. If you are suffering from a bad cold on a particular day you may not be able to do this activity. That is called psychologists somatic effect. Our performance depends on our physical and mental well being.

These are proven techniques to speed up learning skills and especially Procedural skills.

So if you want to dramatically improve you trading do a deep dive.

Why it is easy for beginners with no baggage to become profitable faster.

Posted on 5/27/2021


 

Dear Stockbee family,


I would like to share my experience with you all.


I come with a technology-pharma background. I wasn’t happy with what I was doing in my last job. I came across Stockbee leadership boot camp through my husband and I joined the boot camp to help me brush up on my leadership skills.


December 2020: Just before attending the leadership boot camp, I learned a little bit about the Stockbee community and understood that Pradeep cultivates the traders. I was looking to make a career change and was looking at different opportunities and stock trading was something that allured to me as it had the possibility of flexible hours and being able to make money as well. I was very nervous as stock trading was completely alien to me and I had no exposure before. I had very limited knowledge and did not have any idea about charts or fundamentals or technical natures of stocks.


January 2021: After putting in lots of thoughts, I decided to quit my job in mid-January and adventure into the trading world. We only live once right J


February 2021: I started reviewing material from the Stockbee guide section right after my resignation. I attended all of the boot camps offered since January, performed deep dive on momentum burst and 4% b/o, try to understand the processes, timing, and edge around it. I attend all the meetings planned by Pradeep. This allows me to take advantage of his wealth of experience and knowledge that he shares with us daily. 


I enrolled for a TC2000 gold subscription for a year. I set up all the scans in TC2000 provided in the guide section. I set up a brokerage account in IB and ensured that I have funds available for trading. 


March 2021: I started trading hands-on 4% b/o with 10-15 shares depending on the share price in my actual account. I ensured to stay under $50 and not to go for higher-priced stocks. This allowed me to understand how trading tools work. I consistently followed Pradeep’s message and only traded 4% b/o. Initially, I was very slow and suffered from FOMO. I continue to tweaked my process and ensured that it works for me. I ended up gaining around 2K with an account size of 15K. 


During this time, I spoke with few Stockbee members with different backgrounds to help me motivate and keep going. I understood the process and gained confidence during this period.  If you guys are reading this, you know who you are, and thank you from the bottom of my heart for giving me your valuable time and insights.


April-May 2021: After gaining some experience with tools and repeatedly follow the process in a real environment, it gave me the conviction to increase my share size. I increased share size from 10 to 100 and account size from 20K to 150K. I kept repeating the same process day in and day out for high-priced (FHP) stocks. I had good gains and losses due to the market conditions. I kept on top of the SA and tweaked my process every moment and I gained 20K in April and 10K in May until today. 


I have come to the Stockbee community with no Trading experience. I have never read any books or blogs on trading. Stockbee has many best-performing members and tons of material available. It’s been four months with the Stockbee community. I feel lucky that I met Pradeep and got the right advice, instead of having to do trials and errors.  Pradeep is very generous to us and gives us his honest opinion and guidance. I am only copying a readymade recipe from Pradeep along with my self-leadership skills which are working very well for me. It’s been an extremely satisfying experience with Stockbee.


Although, I am still very much new and have no idea what the future holds, I hope my story helps folks in a similar situation as myself. There are many folks here, whose performance I aspire to replicate and am working that I can become as good as them. 


Thank you,

Fiona


You can make money this week

Posted on 5/24/2021

If you focus on setups instead of stocks

If you use swing setup

If you have right tools

If you have right scans

If you have process flow

If you target 8 to 20% move

If you can buy breakouts early

If you can use stops

If you can peel position in to profit

If you can sell in to strength

If you can use momentum burst setup


Get the training to be a profitable trader

Work on procedural memory to improve your trading

Posted on 5/19/2021

 


Procedural memory is memory about how to perform procedures.

We have as an adult thousands of procedural memory. We perform these processes without thinking.

Driving a car is about procedural memory. We drive effortlessly without thinking. We are not even conscious of the process unless something happens.

Shaving, brushing your teeth, washing dishes, cooking, and many other things are stored in brain as procedural memory where we can do them without thinking.

The day you realize trading success is about developing procedural memory specific to a setup or style of trading , you will be on path to success. You will do things that will enhance procedural memory.

Trading success is about developing expertise. When you try and develop expertise you train your procedural memory.

As a trader you need to develop a setup specific procedural memory. If you are trading 4% or $ b/o , you need to develop procedural memory specific to that setup.

Same way if you are going to trade anticipation setup and want to buy first viable setup on stock with momentum, you need to develop procedural memory about it.

Procedural memories are implicit memories. They allow us to lower cognitive load. They are learned intuitions.

Procedural memory is memory about how to do a process. It is stored in memory as one schema.

A process containing say 32 steps is not stored in memory as 32 discrete step but as one sequence of step. When performing that task the brain efficiently recalls all those steps simultaneously so you can do the task effortlessly.

Procedural memory helps free up the brain to do other things.

It frees the brain by reducing cognitive load. We have thousands of procedural memories developed over our lifetime. They make our life easy.

As a infant we have very few procedural memories but we quickly build them as we grow and they become part of us.

For example take a simple skill like swimming or brushing your teeth, it is a procedural memory once you develop it you can perform it without thinking or without focusing on a step by step sequence. But it takes us some time to develop.

Same is true of trading . If you read about trading or buy trading manual you will not develop procedural memory. You develop trading related procedural memory by doing actual trading . If you do a process thousands of time you develop procedural memory.

How many hours and tries are required to learn to swim or perform dance or gymnastic. It is same for trading.

If your setup is fast setup requiring fast entry and exit like say day trade , then procedural memory is even more important. You have to perform the task at speed without thinking too much.

New traders spend too little time developing procedural memory.

Before they can develop procedural memory they switch to new ideas and setup.

One day they ride bike for few hours struggle, next day do few hours of swimming and give up because water enters nose and ear, next day they try something new. In the process they do not have procedural memory for setup.

Stick with a setup for six months to a year to become good at it.

Procedural memory also allows us to do vast number of day to day tasks. Imagine if you had to learn to drive everyday, or learn to walk everyday. Life would be impossible without well developed procedural memory.

Same things happens in trading. As a trader you develop hundreds of procedural memories to make your trading effortless.

Where to enter, where to exit, where to abandon a setup without waiting for stops to hit, how to determine risk are all procedural memories developed through practice.

Finding anticipation setup is procedural memory. Once you develop it , you can quickly go through 400 to 500 stocks and identify those 5 to 6 good setups. No amount of instructions and manual can make you learn that skill unless you do it daily for say 90 to 100 days.

Most successful traders who survive the market for many years have developed a procedural memories specific to a style of trading or a setup.

They can instinctively trade those setups without thinking about individual processes or steps involved in that setup. They are not conscious of the steps.

A novice watching them trade many times do not understand their decisions. Many times they get out of a trade just before it hits a pothole or avoid certain trade that novice will take.

Lot of it is instinct developed as a result of procedural memory development. It is like a driver instinctively hitting breaks at sign of something on the road.

For discretionary trading it is all about procedural memory development on a specific setup.

If your efforts at training procedural memory to trade a setup or style are successful then you will become efficient in trading that style.

Once you learn a setup it become relatively easy to develop procedural memory on related style or setup.

But it is difficult to develop procedural memory on another instrument or style. That is why you will see many successful traders focus on very narrow niche in the market.

Some focus on growth investing , some focus on value, some on options, some on futures, some on currencies.

Within that they focus on very niche setup. Some trade say growth stock as swing trades, some trade them as position trades. These two setups require distinct procedural memories.

Most successful traders learn by trial and error that sticking to their setup is best because when they do it the procedural memory automatically kicks in.

As against that novice traders are ambitious, they want to trade as many setups as possible. They don't want to miss out on any style or instrument like option or futures. So they try and simultaneously develop procedural memory. That obviously leads to failure.

If we know that the key to discretionary trading success is procedural memory then why is it difficult to develop procedural memory?

To develop procedural memory you need highly structured environment.

When you learn to drive, it is done under structured environment. You learn it in step wise manner under close supervision. There is someone sitting next to you closely supervising every step and also ensures you don't get killed.

Every month you will see some young kid getting killed in car accident, and the reason is largely to do with lack of well developed procedural memory and bravado.

As against that much of learning to trade on your own is unstructured and unsupervised process unless you join a trading firm or a Wall Street trading house or bank.

You are your own instructor and you need to create your own structure and you need to give yourself correct feedback and you need to ensure you do not get killed by blowing up your account. And more importantly you need to persist for months in learning stage still it becomes effortless exercise.

If you want to develop trading procedural memory and make thousands or millions the first step is to put all your effort in developing procedural memory.

It is not about trying thing once, it is about the 500th attempt and the thousandth and three thousandth attempt that makes you effortless. That is what develop procedural memory. You can not do it in 15 days.

If you read the classic Wall Street books like How I made 2 million dollars in stock market by Darvas or Reminiscence of a Stock operator, you will see that much of the struggle depicted in those book is about trying to find a setup and a process and sticking to it.

Once Darvas found his setup and developed a process it was easy. In Livermore case he went from setup to setup and from day trading to position trading before making big money.

It is the same thing that happens on Stockbee site hundreds of novice join every year. Some give up in few months , those persist for months , six month, a year at some stage develop procedural memory and then they develop their own setups .

Some still stick around , because they find the environment enriching and motivating. They like learning from others and continue to improve.

Some become very good at particular style or time frame like day trading . They start their own site.

Some are scared of sharing their setup and secretive, they spend time talking in riddles. Some do not want to help others. But that is what makes the world interesting . Not everyone is motivated by helping others.

The Stockbee site fosters such ecosystem and survives the process as new traders bring in new ideas and new energy . And some old traders here take on mentor ship role to guide newcomers.

As a novice trader if you understand the role of procedural memory in trading you would approach the task differently. You will set process goals as against monetary goals.

You will focus on well developed setup idea with step by step instructions.

You will try and find someone to supervise your process and ensure you do not get killed during the earning process.

In most procedural memory development situation a apprentice model has shown to be most effective for learning.

When you attempt to develop procedural memory on your own, unless you are extremely motivated and driven (or the correct word according to psychologists is you have very high self efficacy beliefs) the task is difficult. That is why you will see few extremely motivated individuals make it in this field.

This is the reason most ordinary and less motivated traders fail before they can achieve profitability.

They blame markets or other things for it but in many cases the fault lies with failure to train procedural memory.

In order to develop procedural memory for any given time frame or style or set up first you need to start with well defined setup with clear step by step process led out with clear explanation for each step.

For example if you were to decide to trade a swing trade setup, you need clear well defined highly structured process that you can follow and master till you can do it on your own without supervision. That is why I and many other traders here repeatedly share processes, setup and repeat things till people get it.

That is why this site puts so much focus on becoming process oriented.

Develop process flow and develop procedural memory. Once you do that you are on your own.


Get the training to be a profitable trader