Systematic trading can lead to immediate success and reduce reliance on others.
Analyzing and tracking personal data is crucial for building confidence and avoiding emotional trading decisions.
Deep dives
Transitioning to Systematic Trading
The speaker talks about transitioning from discretionary trading to systematic trading. They mention that their brother introduced them to a cool strategy and once they started following a system, they saw immediate success. The speaker expresses the benefits of system trading, such as less stress and reliance on others. They also talk about the importance of data analysis in developing a system.
The Role of Charts and Data
The speaker emphasizes the use of charts and data in their trading approach. They mention that they primarily rely on daily charts and focus on key data points such as gap-up levels, open, high, low, close, market cap, flow volume, and time of day. The speaker highlights the importance of tracking and analyzing one's own data set to build confidence and reduce dependency on others.
Following the System and Avoiding Emotional Trading
The speaker shares the importance of following their system and avoiding emotional trading decisions. They discuss the temptation to take profits too early and the consequences of deviating from the system. The speaker suggests staying disciplined and not getting caught up in fear of missing out (FOMO) or second-guessing trades, and instead placing trust in the data-driven system.
The Journey of Finding Success and Overcoming Challenges
The speaker reflects on their trading journey, acknowledging that they experienced initial success but also faced difficulties, particularly in terms of not following the system perfectly. They discuss the process of analyzing data during rough patches and making adjustments. The speaker advises traders to focus on the process rather than the outcome, remain adaptable, and take personal responsibility for analyzing data.
A little over two years ago Chris was a full time music teacher entering the peak of quarantine. When he began losing students his brother approached him about the trading market enthused to share the information he had discovered. Chris knew he needed a change in careers; however, trading was not at the top of his list. In March 2020 Chris changed his life embarking on his journey to becoming a 6 figure trader. In today’s episode we dive into Chris’s journey towards success. Chris quickly found success remaining in the greens and avoiding dipping below his bankroll. He made the pivot to system based trading. This approach differs from other methods; however, Chris dives into how this works for him.
