I’m trading for financial independence. Having a method of building wealth, both by trading and by investing, is a critical life skill. I want the peace of mind of knowing that whatever happens, I know I can invest my own money in the stock market. I don’t want to depend on a job, a partner, or anything else in this life. I know as long as I have an internet connection, I can use my skills to improve my future.

I approach investing on a regular basis. I continually add long term stock picks to my portfolios to grow them over time.

For my options accounts, I look for high probability moments in time where I have an edge. I only trade setups in which I have an edge.

I don’t have specific goals. I can only trade and I can only make what the market can give me. Sometimes the market has a ton of momentum – other times it lingers for weeks or months. Giving yourself monthly or quarterly goals is a poor idea as it becomes a mental game and can really become a blocker.

My goal is to identify high probability setups and trade them with precision. If you focus on being a better trader, the profits will come. If you focus on making money, that’s when you get in trouble.

But, that being said, usually I can 3-5x an account relatively easily when the market conditions are right, so that’s what I aim for. The time frame though, varies.

My objective is to continue growing as a trader and educator. I strive to constantly learn, as well as teach new methods and strategies, while maintaining the foundation I’ve built. I strive to continue to grow my investment and trading accounts overtime.

​I trade US equities and commodities. I trade stocks, options, and futures.

• For investments, these are long term – I plan to hold them for 5-10 years or more.
• For options trades, typically I trade between 1-30 DTE or less.
• When trading futures, these are day trades

I trade a variety of setups. I trade: Finding Phoenix (identifying relative strength buys after a dip), the Run into Earnings (pre-earnings momentum), the Short Squeeze (an explosion at the highs), Earnings trades (trading the actual earnings report), the Squeeze (multi-time frame, combo with any other trades, triple squeeze), and intraday futures setups.

The rules are different for each setup, but overall I prefer to enter on pullbacks to the 34 EMA on the daily chart. I like to see confirmation of a shift in momentum to the upside, such as a high volume move, VZO buy, or moving average cross to confirm the direction.

On trades below a certain risk level, I don’t use stops, especially with butterflies. On more expensive trades, I’ll use either a 50% stop or a stop below the 50 SMA on the daily chart.

I like to scale out on the way up. I like to take profits at resistance levels, then new high, and then at the Fibonacci extension targets. Sometimes I take profits based on percentage gains.

• Risk less on lower probability trades; risk more on higher probability trades in a strong market. Risk less when the market’s shaky or extended. Risk more when the market pulls back into support.
• Risk per position fluctuates between 1-5% on a trade.

Read the news. See what happened overnight around the world. Check on any earnings reports that happened before the close, the night before, or before the open that day. Check to see what’s moving. Look at the indexes. How are they trading? Is there a gap from the night before? Is the gap up or down? What’s the current market condition? How do my trades look?

My post market activity is to relax. When the market’s closed, it’s time to spend time with my family.

What Tools will I use for my trading business? ​I use a combination of trading tools that are absolutely necessary: SqueezePro, TurboVZO, Phoenix Finder, Index Grid, TrendStrength Turbo Candles.

I have a variety of subscription services: Chaikin Analytics, Likefolio, CML Viz.

I also use paid news sources: Wall Street Journal, Barrons, New York Times, LA Times, MarketWatch, and more.

Per trade:

I review trades every Tuesday on my newsletter at www.Fivestartrader.com. I look at the entry and exit, my targets, if I managed the trade correctly, and if I could’ve made improvements.

Per year:

I do an overview every year in December to look for key themes. I want to know what I did best, what I did worst, and how I can adjust what I’m doing to maximize my potential for the next year.

I read for about 4-5 hours every day, at least. I’m always looking for new ideas, new collaborators, and ways in which to improve my methods.

My biggest challenge, and also one of the most important aspects in trading, is to continue to fit your trading into your life. When I do that, I can be disciplined. When I don’t, my discipline slips. In order to trade, you must be calm and at peace, and that’s something you can’t do when you can’t focus.

Ensuring that I build my life to fit within my trading career is critical for me.

1. I’ll be disciplined every day, and in every trade.

2. I’ll be my own trading “self”, never trading another’s plan.

3. I love taking small losses.

4. I’ll always earn the right to trade bigger.

5. I’m not addicted to trading just to see what happens.

6. I’ll only trade high reward setups that have the probabilities in their favor.

7. I’ll be a bricklayer – making the same types of trades over and over again.

8. Once I find a setup, I don’t hesitate; once in a trade, I don’t overanalyze.

9. I’ll always keep a detailed trading log/journal and will act upon what it tells me.

10. I’ll review my work and shift over time to adjust for what’s working and what isn’t.

Everything I do will be for the success of my trading business.

NEVER FORGET: This is the “You Are Screwed” Trading Mindset

1. You have no trading plan.

2. You have no money management rules.

3. You’re prone to emotional swings.

4. You’re nervous when in a trade.

5. You try to predict rather than react.

6. You revenge trade.

7. You don’t cut your losses fast enough.

8. You watch every tick.

9. You never review your trades.

10. You’re losing MONEY!