237: Is ICT Her Uncle? Find out… Tori Trades Tells All
Jul 26, 2023
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Tori Trades reveals her trading journey mentored by a family member, emphasizing discipline and preparation. She discusses emotional challenges, transitioning to live trading, and evolving strategies. The podcast explores automation, trend lines, female traders' experiences, and trader strategies with a light-hearted conversation.
Tori focused on mentorship and practical learning under her uncle's guidance in day trading with Trade Station.
Transitioning to swing trading reduced screen time and allowed for alerts-based entries on higher timeframes.
Consistency in strategy application and risk management is vital for trading discipline and stability.
Self-awareness aids in recognizing emotional triggers for better decision-making in trading scenarios.
Tori addresses gender dynamics in trading and the underrepresentation of women, calling for more research on this topic.
Traders are challenged to dedicate a month to mastering a single trading strategy to improve skills and gain valuable insights.
Deep dives
One-Year Mentorship with Uncle Mike
Tori describes spending a year learning to trade under her uncle's guidance, focusing on day trading with a reliance on Trade Station. The process involved deep immersion into the trading world, discussions about psychology over breakfast, chart analysis during the day, and reflections on fundamentals during dinner. The emphasis on mentorship and practical learning over an extended period was highlighted.
Transition from Day Trading to Swing Trading
Tori elaborates on her evolution from day trading to the swing trading approach, emphasizing a shift to higher timeframes like the one hour, four hour, and daily charts. This transition allowed for reduced screen time, alerts-based entries, and a more relaxed trading style. Her success with the swing trading strategy encouraged a deep dive into statistical analysis and a focus on improvement.
Risk Management and Strategy Consistency
The importance of risk management and strategy consistency is underscored as Tori discusses the significance of sticking to a single strategy for an extended period to cultivate discipline and stability in trading. She emphasizes a blend of self-awareness, emotional regulation, and adherence to defined rules to navigate the ups and downs of the market.
Mindset and Self-awareness in Trading
Tori advocates for self-awareness as a cornerstone of successful trading mindset, enabling traders to recognize and address emotional triggers that may impact decision-making. By acknowledging and managing emotions, such as attachment to trades or micromanagement tendencies, traders can maintain focus and objectivity in their trading approach.
Women in the Trading Industry
Reflecting on the gender dynamics in trading, Tori delves into the underrepresentation of women in the industry, exploring potential factors influencing women's participation in finance. The conversation highlights the need for more research on gender disparities in trading and the unique challenges and opportunities women encounter in the field.
Consistency and Strategy Mastery Challenge
Tori issues a challenge to traders to dedicate a month to mastering a single trading strategy, emphasizing the significance of consistency and focus in honing a specific approach. By committing to one strategy and tracking results diligently, traders can gain valuable insights and refine their trading skills.
Stats and Trade Analysis Insight
Revealing key trading statistics from seven months of data, Tori shares metrics like profit factor, win rate, and trade analysis scores, offering a glimpse into her trading performance and strategic approach. These insights underscore the importance of data-driven decision-making and continuous improvement in trading.
Emotional Self-regulation and Discipline
The interview delves into the challenges and strategies for emotional self-regulation and discipline in trading, emphasizing the importance of self-awareness in navigating the psychological aspects of trading. Tori's insights shed light on the mindset and resilience required to manage emotions and maintain consistency in trading.
Transition to Swing Trading and Alert-based Entries
Tori's shift to swing trading from day trading is explored, focusing on reduced screen time, alert-driven entries, and a relaxed trading style on higher timeframes. The transition enabled a more systematic and strategic trading approach, enhancing efficiency while minimizing emotional involvement in trading decisions.
Risk Management and Strategy Consistency
The discussion highlights the critical role of risk management and consistent strategy application in achieving trading success. Tori's emphasis on following predefined rules, maintaining emotional balance, and upholding trading discipline underscores the key elements contributing to her trading proficiency.
Self-awareness and Mindset Mastery
Tori's insights into self-awareness and mindset mastery underscore their pivotal roles in navigating the complexities of trading. By prioritizing self-awareness, emotional balance, and adherence to a disciplined trading approach, traders can enhance their decision-making capabilities and achieve optimal performance in the market.
