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.
Dear Market Flow Trader Family,
Last week, we enjoyed a visit from our eldest, David. When our son visits, we spend a few hours trading with him, sharing our process, and working on his mechanics. You would think he has every advantage, having access to Bumpa (Kevin) and me, and he does. But like his dad, David has a painfully short attention span, and only he can find a way to overcome that challenge. That means more time trading in simulation until he clearly defines his EDGE and strengthens his muscle memory.
I felt it important to share a part of David’s journey and how we are helping him avoid the mistakes most new traders make. I am giving you, trader family, the same advice I give my own child: embrace developing your EDGE, PROCESS, and MINDSET in a simulated account. I believe there is nothing more costly than ignorance, and that is especially true in trading.
"Trading in simulation is like learning a video game; each level kicks my butt until I learn how to beat it. It might take me a thousand tries, but each time I understand my opponent a little better, and I learn to use my tools and weapons a little better. All it costs me is time." ~David (Nana’s Firstborn)
David also brought his wife and their two beautiful girls to visit. Nothing gives this Nana as much joy as seeing those two darlings at play—and I am so grateful that we, as young grandparents, have the time to give. With four married children spread across the country, there is no way we could see them as much as we’d like if not for the life we live, the life we have thanks to trading.
This life neither came quickly nor easily, so I caution you: If someone tries to tell you their “secret new method” is different, don’t buy it. Seriously, save your money. I am not saying none of those people can trade. Some can. I’m saying that subscribing to an alert service or following someone on Discord teaches you nothing, and does not build a professional skill set. An amateur trader following a professional trader still loses money. If you’ve gone that route, like a great number of our members in the past, you know that to be true. Luckily, you’ve found us. It’s fortunate because Market Flow Traders are taught to practice their trading mechanics before risking capital.
I want everyone reading this to become an independent-thinking, highly profitable TRADING MACHINE! I just can’t, in good conscience, tell you it’s going to be easy. Profitable trading requires tons of effort while you are developing your EDGE, PROCESS, and MINDSET. Patrick’s setups are among the most accessible and most reliable to identify and trade. Still, it’s your instinctive “monkey brain” making you trade with greed, fear, and revenge. At our Live Trading Desk, Coach Reven will often respond to a new trader’s “rookie question” with, “Why are you in here? Why are you not spending this time on the course material where that question is answered? There are no shortcuts!” Old Rev also struggled in his past life. Everyone has. He’s saving you from the mistakes he’s made. Learn, practice, then trade. Market Flow Trader may be the only place where you are encouraged to not trade. Stay in that practice account until you are confident in your process.
"If every trader is looking at the charts, but only a few succeed, then the path to success is not found in the charts." ~Reven Wood, MFT Coach
Let me ask you something: Do you consider yourself a high-performing individual? Taylor Stockwell, the MFT Consistency Accelerator Coach, shared some inspiration this week, likening our trading path to a pro athlete, where “most of the work happens outside of gameday. To become successful, athletes surround themselves with coaches and other high-performing individuals.” Do you think the NFL or NBA would offer you a contract without knowing your abilities? Likewise, The Market will only pay you (or take from you) according to your skill set. You can watch Taylor’s full message here.
Patrick Wieland created The Market Flow Trader Community to help traders avoid the pitfalls he’s suffered along the way. He’s surrounded himself with high-performing coaches, developed effective and concise educational material, and built a thriving community of serious-minded traders because he has a heart for your success, as do we all. If you are ready to beat this level you’ve been struggling with, or feel inspired to trade shoulder-to-shoulder with a group of like-minded, high-performance trading professionals, I expect to see you tomorrow morning at our Live Trading Desk.
To Your Success,
SherylTrades