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SD Trader Meetup, hosted by the 🐐@TheOneLanceB Main Takeaways!
1. Know your why in trading
- Understand WHY you chose this career path where the first few years you just eat shit and consistently lose money. Why are you entering this field of work? Why do you need to be successful? WHY?
2. The number one predictive variable of a great trader is HUNGER:
- It does not matter how educated one is over the other, how much smarter, if someone knows coding or is proficient in backtesting, the person who has the hunger for it will outperform everyone else over time. BE HUNGRY.
3. Dont label yourself, trade the broken slot machine
- "I am a large cap trader", "I trade earnings," "I have only traded futures before." Wherever the broken slot machine is, is where we should be. Lance's top ops are mainly small caps, yet he placed a trade on NG recently. Be where the EV is just outrageous. Place yourself in the highest EV bets.
3.5 Place yourself in high EV setups with great expectancy
- Lance places himself in trades where LARGE EV setups. Even though if he traded the setup make 100k on the setup 8 / 8 times. Then he trades it the 9th time and gets absolutely destroyed on it and loses 100k, people will say "Why are you trading that stuff? Didn't you get absolutely fucked?", yeah he did, in that one scenario but the EV of the setup was just overwhelmingly positive that overtime the setup is still VERY profitable.
- Lance's take-profit system is VERY simple, PBL/PBH on the 2min. His take-profit system is allowed to be very simple when he places himself in very high EV positions.
4. When squatting, tighten your core and use your breath to add structure as well. @TheStrongTrader
- Needed help on my squat form and when you have someone like Tanner in front of you, it's a no-brainer to ask for advice.
5. SD is absolutely beautiful
6. SD traders are tall af.
Side note: Had a surreal moment when Lance was talking to us traders in a group. A while back I saw a picture of Lance talking to a group of traders at the SMB Desk. And I would close my eyes and visualize myself there on that desk, thats where I want to be. And while he was talking to us traders in a group at that meet up, I just had a surreal feeling. It was just a taste of what it was like while visualizing myself earlier. I cant wait to put myself in the position more and more often.
Had an amazing time at the end of the day! This was my first trader meeting with my good friend @AAramTrades. Finally was able to prove that Lance was a real person and not just an AI. Was great meeting a person that I really admire and take inspiration from. Lance's trading ideas, but also ideas about life in general are inspiring and remind me why trading is the best career on earth, his ideas keep me going despite hard times and help me make tough decisions. Was comforting to meet other PST traders in person as well bonding on how waking up at 4am and 5am sucks but how it needs to be done. Still had lots of people to meet and great traders I just didn't get the chance to talk to. Excited to go for the next meet-up in Jan if everything aligns correctly! If there others had other takeaways let me know! Thank you Lance 🐐!!
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