Stock Trading Secret to Success 12-21-22

Welcome to today's edition of The Daily Ticker 12-21-22

THE FEEDBACK LOOP

Have you ever heard of The Scientific Method?
Sounds fancy but it’s the key to unlocking your trading success.

Without getting technical it’s basically a process of asking a question, and then trying to prove it, to determine if it’s true.

It goes like this: Question > Test > Results > Assess > New Question.

You keep this feedback loop of results open until you either prove something is not true, or until you validate your assumption.

“If I walk 10,000 steps per day, will I lose weight?” 

Sounds simple right? Ask a question, then see if it’s true.

Then why is trading so hard for so many? – It’s because we focus on the results and not the test. We never “blame “ the actions.

We get frustrated when we don't get the result that validates our question. When in fact we got exactly what we needed – feedback. 

Every trade is feedback to improve. Improve your edge, your trade management, and most importantly your mindset.

As 2022 nears an end, we reflect on the year that was and the coming year. 

Each December we host an epic coaching session that typically goes over three sessions and lasts six hours.

Members of our community are invited to “think deeply” and answer four questions. The same four questions I required traders at my firm to submit.

The first question, while on the surface seems masochistic, instantly makes you a better trader. If you implement the feedback.

Here it is: What absolutely did not work for you this year? Give detail, open the wound , feel the pain, and pour salt in it. (big list of what doesn't work)

Removing unforced errors, the actions that clearly move us in the wrong direction avoids the hole that most dig out of. Those pesky small but clearly dumb decisions that slowly drain our trading account and our confidence.

So here’s what separates those moving toward their dreams, and those hoping the pain magically goes away.

Focus.

Are you focusing on improving or blaming? Are you still holding onto losing trades from 2021 or embracing the lessons of 2022?

How you see results influences your next steps. How you spend your spare time dictates your future.
When you’re finally open to feedback, trading becomes a WONDERFUL experience. Each trade moves you closer to profitability.

The only thing in your way is better questions.

Yesterday is a fantastic example. The Market and sectors were less bearish, some stocks rallied. Stocks that are “easy to trade” when order flow is bullish.

But we’re not bullish right now. So that creates a new question: What kind of profits and position sizing is best for bearish rallies?

Your turn.

Pete

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🥇 Finviz Screener | Find the Top Stocks to Buy Now
https://youtu.be/K5JZNCWIhZo

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https://youtu.be/lcB83RcN23Y

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