JJ

@alifarhat79 Our Russian chauffeur #clickandclack

@factor_members The last one looked obvious too, but i tend to agree leaning bullish here, but mostly waiting. Too choppy.

@factor_members Getting a ton of value from the factor spreadsheet. I had multiple draw downs on open equity this month, including today, but tracking ror on sequential closed trades shows a draw down for the month of < 1%. Much better for my mental capital than measuring OE. Thank you! 🙏

@factor_members Yes - immensely so. Please do more. 🙏

@factor_members 4-8, sometimes more if Im just getting a feel for things. 4 if im locked in.

@factor_members Yes - works well

When you start out, every setup looks like an opportunity. As you gain more experience the ability to discern the setups that perform better for your style and process start to reveal themselves, but it takes self reflection and discipline to notice and then slow down. I wrote about my own experience with this here: crowdedmarketreport.com/trading-for-a-… Cc: @Crowded_Mkt_Rpt

It took me time to understand this trading isn’t about doing more. In the beginning, I thought progress meant activity. More trades, more screen time, more involvement. It felt like I was getting better. But looking back, I was just staying busy. Nothing really improved until I started doing less. Fewer trades. More waiting. More time just watching instead of reacting. That’s when things started to make sense. Not because the market changed but because I did. I still make mistakes. That part doesn’t go away. But now I see them faster. And that alone changes a lot. Turns out, trading isn’t about pushing harder. It’s about knowing when not to. Did things start improving for you when you slowed down or when you pushed more?

@ImreSG @Wordsofrizdom Just wrapped my third listen, what a fantastic interview. So many nuggets to unpack, going to write up my own notes. Well done for both of you. The "tell" I have noticed for poker players is use of the words EV and variance. I hear that and my ears perk up.

@Ramblin_Rebel13 @gfc4 Low IQ is my edge

@gfc4 Can't fix this, it's part of human nature. Lot of it is ppl saying, "this person's IQ is 10pts+ below me and lacks my pedigree, yet they've outearned me by 50x? Must be a grifter". Part of that is fair (lot of scammers), but part of is ego - damage that and ppl get defensive

Dear extreme skeptics of the forthcoming Market Wizards book, Most of you seem to be intelligent people intent on ensuring that the series doesn't become a platform for frauds and scamsters. In this regard, we are in the exact same camp and you should know that I spent hundreds of hours reviewing materials and learning processes to deal with the reality that document forgery is pretty easy in the era of AI. Please know that I took this very seriously. If you review some of my public work (see papers etc) or talk to people who know me, you will likely discover that I am quite thorough and pride myself on adhering to a high level of integrity. While I am happy that the book is top of mind for many of you, the repeated attempts to denigrate the book are becoming a bit tiring. And while I wanted to respond to everyone addressing their concerns, there just aren't enough hours in the day. As I believe that you are well meaning and intelligent people I have a suggestion: Consider that you are literally judging a book by its cover (and table of contents). Further, consider keeping in mind the idea of "due process" and perhaps at least skim the book before reaching a definitive conclusion. Thx

@lanmarcap @factor_members Same, this was the book that made things click for me.

@factor_members Diary of a Professional Commodity Trader was the biggest influence in my trading journey. I know you don’t love your book, but it was pivotal for me and I’m sure many traders. I’m not sure trade this trade would have happened if not for that book

You already provide most of this information, and I trade similar setups, mostly influenced by your rules and pattern identification (influenced, not copied). There is so much judgment involved along the way, the kind of subtleties that are only picked up by first hand experience. One has to experience that on their own for it to translate to consistent positive EV decisions over time.

@Ramblin_Rebel13 @factor_members Can't come soon enough

@factor_members May 29th cmegroup.com/media-room/pre…

One of my favorite quotes from the interview with @gfc4 that will be published tomorrow on YouTube. George was referring to something @dollarsanddata said

@factor_members What about this one? Excuse the black background, I am a geriatric millennial cc @McClellanOsc

Spot on. I can make better decisions before the trade is on. Once the trade is on, the highest EV decision has proven over and over to be sticking to the plan I put together before the entry stop executed. Where this can become challenging, thus pre defines rules are needed: advancing stops, advancing exits on particularly strong breakouts, ie the trade management. This is the really hard stuff.

REACTIVE BEHAVIOUR w.r.t. TRADING 1/ When you touch a stove hotplate you immediately pull your finger away without even thinking about it. This is the limbic system at work which is dominated by emotion & impulse. (as opposed to the cerebrum which is analytical & intellectual) Reactions happen instantaneously, way before you have time to analyse the situation & come up with an approp. response. It’s a survival mechanism & it serves us very well. Sometimes in trading, you react & then after you wonder, . . . . “D’oh, why did I do that?” Perhaps, a way to circumvent this, in trading, is to become aware of & try to anticipate problems & take steps to stop them from occurring. (Instead of reacting to the problem as it arises in real time) Not always that easy. Simplistic Ex: I place mental stop & price reaches it. I don’t like to be seen as a loser & thus lose status within my 'tribe' (survival mechanism), so I don’t place my stop & keep holding for ‘just a little bit longer’ (reactive behaviour) . . . & we know how that story ends Instead, could place live GTC stops. We anticipate the problem above & prevent it from happening. Then there are other more complex reactive behaviours that happen so quickly you’re not even aware what just happened, until 1 or 2 seconds later as the 'brain' catches up. It’s been said that the limbic system processes information 200 times faster than the cognitive brain. (recall hot plate example above) Good luck trying to front-run that in real time !! Ain’t gonna happen. (b.t.w. is "ain’t" even a real word?) **************************** So, best bet, is to have contingencies in place (in advance) that limit the reactive behaviours that we are all prone to. (Note that i said 'limit' & not 'eradicate') Write some down for yourself, right now if you like. Thoughts anyone?

Great write up. I have a generator that runs on propane, which solves the gas rotation problem, but still have that for other gas powered devices that I use. An alternative that has risen in popularity over the recent years are portable battery banks. You can run them safely indoors. Price is comparable to generators and some are large enough to connect to your home panel, but you can also get several and place them near the appliances, or move them to wherever you need power . You don't even have to charge them from solar, you can keep them topped off from the grid when it is working.

I have owned a generator for years, because I live among trees and power lines in the Pacific Northwet. The urging from @ChrisMartzWX is important, but needs elaboration. When you buy a generator, you need to figure out a safe place to operate it, away from any breathable air intakes for your house. That is especially important if you don't have your house wired to run with generator input, and if you are going to be running an extension cord in through a cracked door or window. Every winter someone dies from carbon monoxide poisoning from a generator. Don't be that guy. You also need to store the fuel for it, which is a problem because that takes up a good bit of space. You then need to implement a program to rotate that fuel, so you are not storing it for longer than 3 months at a time. Gasoline goes bad, especially if it has ethanol in it which attracts water vapor to get absorbed into the fuel. This can provide the needed materials for biological growth which ruins your fuel, and also clogs your carburetor if you use that fuel. So set a reminder to put the unused gasoline into your car to burn it up every 3 months, and refill those gas cans. Plus, put fuel stabilizer in when you refill the cans then. Some generators are made to run on your municipal natural gas lines. That is great, unless you live in earthquake country where your methane supply can get disrupted. And hooking it up to your natural gas line adds an installation expense, because you will need a plumber. Next, you need to put it on your calendar to start that generator periodically, ideally once a week. Doing this is good for the engine, because it keeps everything lubricated. It also flushes the fuel sitting in the bowl of your carburetor, so it does not go bad sitting in there. Yes, this is a pain, but do you want the generator to start when you need it? If so, accept the price. The last point is optional, but important to me. Avoid the cheap discount generators, and buy a quality one. I have a Honda, which costs more, but I have gone cheap before and regretted it. The cheaper ones are almost impossible to get parts for, so if it breaks a lot of repair shops won't even look at it. Electric start is also really nice, but it further emphasizes the rule about starting it once a week, to keep the starter battery charged.

@factor_members I think its a matter of what we are used to, or in other words personal preference of how we process the visual data. I have spent the last 30 years using black background computer terminals with teal colored text, so I configure my charts similarly.

@kamfongchun @Ramblin_Rebel13 @factor_members Billy Ray Valentine, Capricorn

@Ramblin_Rebel13 @factor_members Cant argue with the logic. "Lookin' good Winston" "Feelin' good Billy Ray"

@factor_members Out of the things to get moving, OJ might want to join in

@factor_members I felt the need to get in early on this one too, have another buy at breakout with risk sized to the profit I should have on the first tranche if we hit it.

@factor_members I got burned on the initial breakout. Big drop back below the ice line on low volume. Was filled well below my stop. Not going to try that again. Liquidity is now non-negotiable in my market selection.