The Short Cut to Success

There is a thread on TradersLaboratory that I contributed to. The OP suggested I was keeping what I did secret and that I should "reveal all my secrets".

During the last 6 months or so since this blog began, I believe I have set out a short cut to success in this business. Following this roadmap, Kiki became CP (consistently profitable) in less than 6 months, albeit with personal mentoring from me, but still using the roadmap I set out in the blog.

I wanted to paste my answer to that TL post below in case you don't read TradersLab.

Guys, you are looking for a pre-packaged mechanical formula for discretionary trading. That is a contradiction. "Discretionary" means "discretionary".

To me a setup is like a picture. When the picture is "right" I enter the trade. Sometimes I draw on where the support is, sometimes momentum is more important. Order flow is always important but sometimes its the VB I want to see right and sometimes the CVD must be trending. It always depends on the circumstances.

The only way to "get it" is to do what I did: look at what happened just before a good trade triggered. That's why I push SIM trading so hard. Until you recognise FOR YOURSELF what the difference is between a good setup and no setup, you are doomed to lose. You want to run before you can walk. There is no substitute for the work to train yourself to see.

Now as far as the FloBot is concerned, that is not discretionary trading. Its mechanical trading, which is something different. The rules for FloBot are not discretionary. They are specific but general. The performance from FloBot will probably not be as good as a discretionary trader. Its strength lies in the trader not being required to focus 100% one hundred percent of the time and also because a trader can trade a number of markets at a same time.

If you can't work out your exits yet, why don't you do what I suggested in the blog: take all your profits at the first logical scale point or at a fixed minimum profit objective. If your win rate is as high as it should be, you'll make money.

Since I started teaching Kiki to trade and writing the blog, I have received many, many emails from people who have turned their trading around and become CP (consistently profitable) by using what was in the blog. It's all in there. Providing mechanical setups for discretionary trading is not doing you a favour and I won't go down that road.

There is no free lunch to becoming a trader, a doctor, a lawyer or any profession. A student needs to follow the curriculum, study hard, do the practice. The exams then are easy.