The Backpack Trader Podcast

Ep 07: Zero Commission Brokers Transform Retail Trading

Listen Later

What is the Trade Plan Hacking framework?


Andrew Keene, the president and CEO of Alpha Shark Trading and a former CBOE floor trader, is renowned for his "trade plan hacking framework," which he believes is essential for transforming traders into the CEOs of their own trading businesses. This framework focuses on creating a structured trade plan, acquiring confidence in it through testing and practice, and ultimately executing it live, all while emphasizing trading discipline and integrity. Keene advocates for minimal trading, suggesting that a well-crafted day trade plan should require only an hour or less each day, while swing trading should involve tested and unique trade plans tailored to each symbol. He also warns retail traders about the risks associated with zero commission brokers and social media hype, stressing the need for rule-based strategies and understanding order flow to navigate the options market effectively.


Key Takeaways

  • Traders can become the CEO of their trading business by following the Trade Plan Hacking framework.
  • Discipline and mindset are crucial in the trading world.
  • The power of quitting in day trading helps avoid over trading and maintain discipline.
  • Analyzing big flow data and sticking to rule-based setups are important in options trading.
  • Learning trading techniques, strategies, and methods is crucial for success in trading.
  • Retail traders now have low-cost entry and exit options with zero commission brokers.
  • Watching order flow is important for making trading decisions based on insider information.


    • Connect with Andrew Keene:
    https://alphashark.com/

    https://www.linkedin.com/in/andrewkeenetrader/

    Connect with Troy Noonan

     https://www.backpacktrader.com/

    https://www.youtube.com/c/BackpackTrader

    ...more
    View all episodesView all episodes
    Download on the App Store
    The Backpack Trader PodcastBy Troy Noonan