Prop Firm Principles for 7 Figure Trader

Trade stocks in play
Utilize principals of elite performance
Become a little better everyday
Trade your A+ set ups
How good can you be?

> Four key components for elite performance
>
> Talent code - Dan Coyle
>
> Domain knowledge
> Sustained energy
> Purposeful practice / rehearsal
> Critical feed back

> Scalable =
>
> Think in percentages
> Work out clear rules for each trade
> Trades w Percentages of daily loss risk
> Trades w Percentages of book

Ideas for Trading A+ Setups

Fresh news play

A+ Set up
Catalyst
+/- 3%
Volume 3x avg daily volume or more
Above or below significant level
Market trading in same direction

A+A+ setup

Includes above and Above or below 52w high or low

Catalyst edge +

% Risk of daily loss by style of trade
Up 3%
30% of intraday risk

2-5% of book for swing
A+A+ - Set up where full risk

2nd day play

Catalyst
+ volume 3x AvgDaily Volume or more
+ closed high of day / low of day
Market trading in same direction

2 trades to trade.

Pull back to a significant inter day support
Break above resistance previous HOD


A+A+ Set up

Includes above and 2nd day after making new 52w high or low

Table of contents date, symbol, and style trade

Each tab has trades in them labeled in table of contents

Day Trading Stock Scanner Data

Stock Symbol
Volume today
Avg 30 volume
Vol% of avg vol - RVOL
Gap %
Change %
ATR
Float short
Price
Earnings Date (If upcoming)

Breathing Techniques - Box Breathing & Tactical Breath

Tactical Breath - During Intense Workout / Performance / Training Environment

Breath through nose during performance for 2 reasons:

1.  It releases trace amount of nitrous oxide to help to deliver oxygen to cells.
2.  Stimulate nerve cells behind sternum that trigger nervous system which calms down your body and mind during fight or flight

Put Right Hand On Belly
Inhale 4 count / Exhale 8 Count
Start next breath immediately after exhale

Step 1- Belly Breath

• Breath deep through your nose pushing your belly out
• Push your belly into your spine releasing breath through your nose

Step 2 - Belly + Diaphragm

• Breath deep through your nose pushing out belly and then your diaphragm
• Release breath from diaphragm first than you belly

Step 3 - Belly + Diaphragm + Chest

• Breath deep through your nose pushing out belly then your diaphragm than raising your chest
• Release chest then diaphragm then chest

Training Breath - Non Performance / Stress Situation  - 5 - 15 min (3) times per day

• Inhale 5 count / Exhale 5 count

My perfect trading routine

Routine to Become My Best Trader

Daily Market Trading Days

4:00a - 5:30a - Morning Workout

5:35 - 5:45a - Post Workout Meal

5:45a - 6:45a - Pre Market Preparation / Stocks in Play / Build Play Sheet / If - Then Statements

6:45a - 7:05a - Box Breathing / Visualization Exercises for open

7:05a - 7:25a - Final Prep for trading open / Set alerts for key levels in SPY / Volatility Instruments
                         and stocks in play / play sheet

7:30a - 9:30a - Trade open / Journal

9:30a - 11:30a - Upload to Tradervue / Journal about open / Take opportunity to learn / Watch
                           tape / Watch SMBU Video / Identify opportunities for close / Set alerts for key
                           levels / Have a nutritious lunch / Visualize the closing trading

11:30a - 2:00p - Trade the close / Journal

2:00p - 5:00p - Upload to Tradervue / Make notes on Tradervue charts (bubbles) / Review morning
                         playsheet ideas / Create Playbook Trade / Create anti playbook trade / Analyze ideas
                         you should have traded / Journal / Watch Tape / Find stocks for 2nd day and technical
                         plays for tomorrow

Before Bed - Visualize executing this perfect daily routine

Swing Trading Checklist 8/13/16

Trading checklist 8/13/16

Top down approach
Market analysis 
Sector analysis 
Stock analysis 
1.  What pattern am I trading?
2.  What's the probability of this pattern?
3.  What's the IV percentile of the trade?
4.  Do I need to add long or short delta to my portfolio?  Am I leaning long or short delta?  
5.  What are the current market conditions?  What are my indicators telling me? Above 200? 50? 20? %R?
6.  Have I followed my trade plan?


Sent from my iPhone

Swing Trading Checklist 8/13/16

Trading checklist 8/13/16

Top down approach
Market analysis 
Sector analysis 
Stock analysis 
1.  What pattern am I trading?
2.  What's the probability of this pattern?
3.  What's the IV percentile of the trade?
4.  Do I need to add long or short delta to my portfolio?  Am I leaning long or short delta?  
5.  What are the current market conditions?  What are my indicators telling me? Above 200? 50? 20? %R?
6.  Have I followed my trade plan?


Sent from my iPhone

Characteristics Of Champions

- Champions have a clear plan for success and for achieving their goals
- Champions welcome challenges as a means to learn and grow
- Champions produce normal and predictable results in very abnormal and unpredictable environments
- Champions rehearse success on a daily basis mentally, physically, and emotionally
- Champions value the process of success more than any particular outcome (this is what is controllable and within   our ability to deal with) not the outcome
- Champions have a dream and a passion for success that will carry them through the tough times.
- You can't be the best ever if you don't make the difficult decisions on a daily basis
- Set a dream goal.  Work backwards to fill the points in the journey to get their.

SMB Dr Steenbarger takeaways 8/13/16

SMB Brett Steenbarger 8/13/16

Breathing exercises 
-building concentration and focus 
- Attention span can be trained 
- journey to the wild Devine?
- bio feedback devices 
- time of tremendous opportunity for individual traders.

What is making people successful in current environment 
- uniqueness of perception (ability to see something other people don't see)
- unsuccessful traders look at same charts and stocks that others do. 
- when HFT programs look at markets they don't see time at all.
- if you look at a chart and look for bars with expanding volatility you can see if buyers or sellers are in control
- successful traders are playing a different game 
- odds are very low if traders are trading strategies that are available everywhere.
- successful traders have developed on a desk with a mentor in a team environment.
- first start out copying their trades than develop your way of implementation 
- implementing something quantitative to aid their decision making. (Brett S : models likely hood of 5-10 moves in ES Futures)
- successful traders are deep thinkers and analytical thinkers or fast thinkers with pattern recognition
- you must know your cognitive strengths
- huge institutions are trading momentum strategies, value strategies, volatlity strategies.  And they are spending a lot of money trading reversal strategies
- sizing up must be organic and slow like weight lifting you can't go from 200lbs to 400lbs.
- look at things you learned well in your life and reverse engineer it.  Figure out how you learn best. 
- ground goal setting in day to day reality of the markets and trading. 
- what people do first in the morning for their day like tony Robbins has huge benefit
- review day and week goals 
- At end of trading day review market helps you be more primed the next day. 
- Have routines in personal life that GIVE YOU energy
- when you visualize something you review it often thus making it second nature