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Nana's Notes
by SherylTrades
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I knit, I fish, I Nana. Retired microbiologist turned day trader, going on three decades with the markets.
This newsletter does not constitute financial advice, and reflects only the personal views of the author. Making money with day trading is notoriously difficult; please see MFT's earnings disclaimer here.
Magic Pills and Paper Hands
Dear Market Flow Trader Family,
Are you a newer trader who spots A+ setups, only to bail when the trade shows some red? Do you kick yourself when the trade goes green, as the setup told you it would? That is called having “Paper Hands” in the trading world, and you are not alone. Paper Hands is the #1 struggle for beginning traders and an ongoing battle for many experienced traders as well.
What you are probably experiencing, family, is a lack of trust.
If you’re part of Taylor S's program, you’ve been honing your Trader’s Triangle: Edge, Process, and Mindset. Still, once in a trade, your heart starts pounding through your chest. You forget every reason for validating your entry. You are looking to exit. I’m here to tell you, I have a magic pill for this malady. But unfortunately, it’s a hard pill to swallow: you simply need more reps.
If Edge is a set of trading rules that gives you a statistical probability of profit over time, and Process is the mechanical execution of your Edge, the Mindset required to put Edge and Process together effectively begins with TRUST. Unfortunately, the only way to build trust is to see your methodology work over and over. According to the Consistency Roadmap developed by the MFT leadership team, hundreds of practice trades are required before you should even try for a funded account. I've heard Sage say that it takes thousands of trades to reach the confidence and fortitude required to make that mouse *click* precisely when you’re supposed to, and prevent you from making another *click* until your Process dictates.
I say Mindset begins with trust, but trust is an individual journey. Our histories and unique situations influence how we get from insecurity to trust. Sometimes, it can be helpful to have someone else observe our idiosyncrasies from a different perspective. MFT's Resident Consistency Coach, Taylor S, is among the most qualified people I know to help you focus your energies—whether your struggle is Edge, Process, or Mindset. In addition to the nuggets he shares in the Market Flow Trader Lobby, members are telling me that his Group Coaching sessions are “the most productive part of the week” and that they are “logging into a session with questions and logging out with answers.” One member of his Consistency Accelerator Program wrote, “I’ve gotten way more out of this (than the) many $5k and $10k programs in my life.” That’s high praise, but it’s not surprising to hear. Taylor has coached professional traders worldwide, and his coaching is in high demand. We are grateful to have him in the MFT community.
I'll leave these here just in case you are interested in exploring what Taylor's program adds to Patrick's system...
- You can check out the Consistency Accelerator here
- Or, use this link to upgrade to the Consistency Accelerator (if you've previously purchased Futures Masterclass)
It was just six months ago that I found Patrick Wieland on YouTube, and I joined The Market Flow Trader Community a short time later. Every day, I am more and more impressed—not only with the ever-growing library of teaching materials but also with the quality input from the membership. I had a few software questions about my platform this week, and multiple people reached out to help. You guys are the best! And during lunch on Monday, one of our most experienced traders, who often trades 300 contracts, generously gave us an hour of his time for a Q&A. Priceless. If you’re interested in watching how Patrick went from YouTube to creating this community, you can check out this
This year marks thirty years since I placed my first trade. I am still learning, still growing, and still adding to my toolbox. If you are looking for a place to start, Patrick’s strategies offer the perfect blend of “simplicity and consistency,” and have helped new and seasoned traders alike. His "Opening Range Breakout Strategy" has become one of my favorites, and I believe a trader who learns to trade this setup effectively could make a single trade and finish most days before 10:00 a.m. Now, THAT is freedom.
I hope to see you all tomorrow, pre-market, in Market Flow Trader!
To Your Success,
SherylTrades
