From Gambler To Elite Trader

There is a big desire to want to be right about “calling” the future outcome of a market 


Would you rather make more money, consistently




Be right about calling the market top/bottom and not be in the trade?


Trading is a damn hard job


Only about 10% of all traders make money (Student)


Only about 2% make a living as a trader (Pro’s)


Only about 1% make incredible returns (Elite)


To be clear, about 90% of traders LOSE money trading (Gamblers)

I work with every one of these groups from the struggling trader who is looking to start this new trading business/lifestyle


To people who make over a million dollars in a single day

I have identified a number of characteristics of each trader type and I will break each one down



New traders who are full of confidence that they are able to predict the future and rightly so, they are usually very successful already in another area of their life. 


They are addicted to news and are always looking for a narrative to why “the market” did something


They throw money at every idea that they have with random amounts


They have no plan for when to stop out of their position if they are wrong and will hold on to their losing positions much longer than they should


They have no plan for when to take profits if the trade works out and will let a winner turn in to a long term loser


They are constantly betting on the most extreme outcomes with their trades anticipating Armageddon or parabolic ramp ups


They don’t understand how to size their positions correctly


They do not keep accurate records of their trades


They stack indicator upon indicator on their charts


They don’t use checklists or systems to ensure they are following a plan


They might have a trading plan but it isn’t properly built, missing things like manual backtests which give you fairly accurate statistics such as: 

-number of trades per year/month/week/day

-avg win

-avg loss


-std-deviation of expectancy

-win rate

-avg drawdown

-max drawdown




They are unsure of what their expected monthly returns will be over the next quarter and even the next 5-10 years


They don’t have a Profit and Loss statement for their trading business


They are at the most confident and dangerous with their own money at this stage in their trading journey believing that they have this trading thing figured out


Gamblers lose the most amount of money compared to all other trader types on a % of net worth basis


Gamblers are manic depressive, with huge optimism before every trade and quickly feel the pit of despair in their gut as they watch another trade go against them 


Gamblers can continue at this for years before finally throwing in the towel and giving up




Eventually they develop a systematic approach to making money in the markets and move to the next phase which I call STUDENT



Students are traders who have moved away from being tied to the news all day/night. 


They no longer focus on the news/narrative or presidential tweets to make money in the market


They now spend far less time trading


They take very small positions when they do trade, and may even just paper trading without real money


They keep records. They may not know what they need to be recording but they are learning to be more meticulous=


They still chase for news events as to why a market/asset moved but they also are aware and begin to separate trading from news


They seek out a mentor


They find a trading system to study and learn how to focus on what’s important and divorcing from all that is irrelevant


The pit of despair that is constantly in their gut as Gamblers, is far less frequent as is the extreme optimism before every trade


They narrow down their trading setups to one at a time and focus on that one setup


They cancel dozens of newsletter, chat rooms, signal services and special news feed services and find one single service that works with their system saving thousands of dollars


They may only break even that year or make $1 profit (which is frustrating)


They see the opportunity that having a system to trade can provide and seek out ways to tighten up their results by trading more assets or learning how to compliment the system adapting it to be their own system


This can take years for a Gambler trader to move to a Student trader that can see the light at the end of the tunnel


It may take years for the Student trader to become a Professional trader




The professional trader runs trading as a business


The professional trader has a detailed trading plan, workbooks, p&l statements, pro-formas driven by backtests and live tests


They have heuristics they monitor constantly to ensure they are implementing their plan efficiently


They are focused on their own personal performance and are fanatical about daily routines, health and wellness, mental state, and adapt their world to ensure they are operating themselves and their trading business as best as they possibly can


They take accurate position sizes


They implement their system at peak efficiency


They are constantly reviewing the previous trading day/week/year


They are constantly testing new systems to implement as they market evolves


They do not blame the algo’s, the Fed, a Tweet or some other reason


They take responsibility and continue to adapt as the markets change (or don’t) over the years


They mentor student traders because they learn more themselves when they mentor


They don’t spend money on frivolous items


Simpler is better


They make consistent returns week after week, month after month, year after year


Very few traders make it to being a professional trader who earn a very consistent income and grow their accounts methodically


Even fewer get to the Elite level




Elite Traders have all the characteristics of a professional trader but have such a high level of focus and commitment to implementing and managing their system that the rest of their life is on the sidelines


Elite traders are fanatical about high performance for themselves and have been at the professional trader level long enough that the edge they have in the markets has played out over years

If you can identify yourself on that list then you know what to focus on to move to the next higher level on that list of traders


Turn off the news


Study and Implement a system

Find a mentor

Focus on your habits and how to structure a high performance lifestyle

Build and implement a thoroughly researched and backtested trading plan


You can do all of this on your own, all of the information in the world is available if you just know how to find it, separate the good from bad, and take the time to iterate over and over on each new idea




We have reopened the Quantitative Earnings System to just 50 Traders for Black Friday


I limit the number that we offer because as you can see by my tweets, I’m very interested in great people making amazing lives for themselves through trading. 


I don’t want to sell this to the whole world, only those who really want to succeed and make a future in this business


The system only runs for about 2-3 weeks per earning season and only trades the best setups where the positive price outcome regardless of the companies earnings report/news. 


This past earnings season we made 13% in two weeks on 17 trades. If you do that 4 times per year, that’s some big results in 8 weeks of work



I truly hope my work serves you

Everything you need to bring your trading to the next level.

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