Words of Rizdom

The Easy Money Trading Concept Elite Traders Use - Lance Breitstein

Mar 12, 2025
Guest
Lance Breitstein
Lance Breitstein, a seasoned trader with over 15 years at top prop firms Trillium and SMB Capital, shares his aggressive scalp trading tactics known for yielding significant profits. He offers a controversial critique of retail trading prop firms and stresses the importance of mentorship in honing trading skills. The conversation delves into the challenges of navigating misinformation, the necessity of intentional learning, and the critical need for realistic expectations in trading. Lance discusses how community support enhances growth and the personal fulfillment beyond trading.
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ANECDOTE

Tesla Trade Boosted Confidence

  • Lance Breitstein made a pivotal trade on Tesla, earning around 11,000 dollars, significantly above his normal daily gain.
  • This success motivated him to keep improving and believe in his potential as a trader.
ADVICE

Practice Trading Intentionally

  • Increase the effectiveness of your practice by reviewing and drilling charts with intentional focus.
  • Use methods like typing out your thought process to anchor correct trading reactions.
INSIGHT

Mentorship Over Tools

  • Retail traders often miss breaking news, which skews strategy effectiveness, especially for mean reversion.
  • Mentorship outweighs tools and capital as the most critical factor to trading success.
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