Traders Mastermind

In this episode, I speak to Saul Lokier.

Saul is the CEO of The 5ers. 

An online prop firm funding traders since 2016.

We delved into many topics, including:

• What happened with My Forex Funds
• Where he thinks the prop industry is going
• How he can tell right away if a trader is likely to succeed or not
• Big trader payouts
• His favourite 1 minute EUR/USD trading setup
• Recovering from the scars of big losing trades
• and much more

I asked Saul some pretty direct questions that we all want to know the answers to and he answered them all…

Enjoy!

As a day trader you might often think “what’s the point of looking at the daily chart?”

Reasonable question.

Does it really matter what the daily is doing if you’re taking intraday positions?

It matters a lot…

And in this episode, I share two valuable (and unique) ways you can use the daily chart to improve your day trading decisions.

Check out the new discipline tracker feature on Trading Plan Pro

Have you ever stopped to wonder why a certain trading strategy works?

Why does that unique combination of candles make a valid setup?

Well, understanding why the VWAP works is a great starting point…

Why?

VWAP is an institutional benchmark of value.

Many algos are designed to match the VWAP, and beating the VWAP on an order worked throughout the day is a target for many dealers.

So, the typical bounce off the VWAP trade is something that has a lot of meaning behind it.

In this episode, I explain why I believe the VWAP trade works and explore the thinking behind it.

We’re all got something in the market that frustrates us. Something that annoys us and causes us to start trading in a way we really don’t want to.

That trigger can be a catalyst for:

• Over sizing
• Chasing trades
• Taking short term trades
• Not using a stop

And we know that cascades into an outcome we really don’t want…

In this episode I explore some of the ways you can stop yourself falling into a bad habit death spiral!

See more of Louise at: https://hypnosisfortraders.co.uk/ 

I bet you didn’t know that Louise Nonweiler used to be a croupier?

Working in top-end London casinos seeing gamblers bet up £100k per hand gave her a unique insight into the mindset of risk-based decisions. (And seeing a lot of players on tilt….)

Fast forward to today and Louise is better known for her work with serious traders. Helping them acquire the mindset required for high-performance trading.

In this super varied discussion, Louise and I covered a bunch of topics.

Including

• Taming the ego
• Visualisation techniques
• Fixing self-sabotage 
• The ‘elastic band’ hack to help program your thinking
• Ambition and drive

And of course, Louise and I always like to talk about health, wellness and general self-care.

Big Macs and news anyone?!

A really fun chat that I know you’ll find valuable.

Price action course: https://www.tradersmastermind.com/price-action-trading-course/

Discipline tracker download: https://www.tradersmastermind.com/discipline-tracker/

The Meditating Trader is a US futures day trader with 5 years of experience.

We discuss how the first 3 years were ones of experimentation to find the market and strategy that suited him.

• How he grades the market conditions
• His favourite day trading strategy
• Thinking in terms of ‘R’ units
• How meditation helps his trading and allows him to have an unconventional approach to daily risk.

Advice he’d give to himself 5 years ago…

Join us: https://www.tradersmastermind.com/

This is a story about Zorro.

Zorro was a day trader who carved out a unique edge. Made a bunch of money, used that money to start a business, sold that business, and made a bunch more money...

Check out the website: https://www.tradersmastermind.com/

Trading is tough, but you don’t need to play the game on hard mode. Sadly there’s not an ‘easy’ option, but you can give yourself a better chance to win…

In this episode, I discuss what I believe it takes to become one of the few winners and the steps needed to get you there.

Check out the website: https://www.tradersmastermind.com/

“C’mon just one more trade, there’s money to be made. A quick trade, grab some cash and you’re done”

Ahh that siren call of the market!

You’ve had a good morning, made some money, feeling good and decide to call it a day.

But before you know it, that urge creeps up.

That little voice telling you to come back to play.

A little scalp, boost that P&L.

We all know how that ends…

In this episode, I share a little trick I learnt to help combat that urge to trade when you said you wouldn’t.

Check out the website: https://www.tradersmastermind.com/

You’re a trader, of course you know how to analyse a chart!

Draw some squiggly lines, make some notes and bosh.

Expert chartist level unlocked…

But then so does everyone else.

Drawing support lines, trend lines and adding a few fibs doesn’t equal an edge

So what does?

Let’s find out…