Your Mindset Framework is the key element to your trading
This manifesto unpacks why having a purpose for trading is important to developing the right frame of mind, and why this matters.
A short practical masterclass on how to take a defined purpose for trading and establish a long term trading career for more time and freedom.
The ALPHA Membership is for people:
- Who believe that trading is less about how much money you make and more about how effective you are at executing a plan and following rules…
- Who believe that developing a mindset of discipline for trading starts with reshaping expectations…
- Who believe that with every trade there is a probability of being right or wrong, and being wrong is just as ok as being right…
- Who don’t care about the performance of others, but only the correct execution of their own plan…
- Who believe that trading is a long-term journey towards discovering contentment with achieving enough.
- The DIYtrades ALPHA Membership centers around a principles-based approach to establishing a mindset of accepting your own plan and rules, and diligently following them.
- Being a part of this community of traders goes beyond how to trade and what to trade; it’s about trading in a way that creates an automatic and consistent performance (your enough); one that achieves your objective.
- TIP: The big secret is to have a realistic view of your trading objective, and align every part of your plan and rules(while maintaining that approach daily).
If this resonates with you, read on. What I have will help define you as a trader and help you create a consistently profitable performance.
ALPHA covers the mindset and rule framework of the intraday trader (in a unique and different way).
By mindset, I mean everything that goes into your purpose and reason for trading and aligning that with your intent to abide by a trading plan and rule framework.
(In most cases, that “rule framework” involves deciding how much time is spent trading, how much capital is used, a method for entering / exiting a trade; and so on.)
Example (at a high-level):
- Your reasons and purpose for trading have to do with gaining control of your time, by spending as little time as possible earning a return in the form of profitable trades.
- You identify and allocate sufficient trading capital and reset this balance periodically.
- You trade with a trading plan that is evergreen (you don’t need to modify it, because that is your edge.)
- A trade is placed with a size relative to the anticipated range for the given stock and partial to max size.
- Entering and exiting trades is relative to the applicable components; stock price, volume, liquidity, and catalyst.
There is more to being a member of ALPHA than this high-level, of course. The nuances is where all the impact is; it is the stuff between the lines. Once you know the basics, breakthroughs come in the nuances.
You’ll Become A Better Trader
Becoming better can be subjective. I’d like to believe that you are here now because you are not consistent and want to be. Anything less than consistent profitability, like breaking even, or running at an overall loss with your trading, is cause for change. That change, if applied successfully, can only produce an outcome that is better than your current situation.
Therefore, you’ll be a better trader not just because you are making money consistently, but you are doing it with more time, little to no stress and emotional energy, and the contentment that comes from focusing on the long term path rather than the short term profit.
Being a member of ALPHA is not about learning how to trade. Not directly, anyway.
Rather: You’ll learn how to create a mindset that connects with your actual monetary needs from trading, and how that becomes the foundation for how you define your rules and trading process.
You’ll learn how to go from focusing on your P&L to focusing on actual trade execution and decision making, establishing a primary core set of trading setups, with rules that help shape how you trade those setups, in a way that you can do it repeatedly and consistently.
Growing your account and sizing up on trades is not the emphasis, or goal. Money in your trading account is a tool that you leverage to generate a realistic monthly income that you can live off of, and also enjoy other pursuits.
When you are able to do this well and adopt this shift, whether you are new to trading or not, and can establish this as your core philosophy, you will accept that growing your account becomes superfluous.
Resetting your account at whatever interval you establish (monthly, quarterly) allows you to funnel your trading profits to the necessary accounts for your daily expenses, savings, retirement, spending, or whatever accounts you use.
You’ll learn how to create an ‘automated’ trading framework that you can accomplish at will, all within whatever amount of time you dedicate to your trading business, from an hour of trading a day to full time.
If this resonates with you, the method I’ve injected into ALPHA will blow your mind. It’ll reframe trading for you. And, I have no doubt, will change the game for you.
You owe it to yourself, and the people you support, to become a better trader, and ALPHA will show you how.