Trader | Head of Trading, European Desk @raentrading
85 subscribers
Nov 30, 2023 • 14 tweets • 3 min read
To Nathan. A thread.
Nathan has been demo trading for 18 months. He has taken 876 paper trades and has a strike rate of 91%. His ROI is better than 99% of global hedge funds.
Today he went live.
His 0.01 lot position took 3 minutes and 42 seconds to stop out.
It is uncanny, he postulates, that with such a high strike rate, he has lost on his first trade.
It makes him feel uncomfortable and as a result he feels the need to back test another 14 years of market data to gain confidence.
Dec 31, 2022 • 30 tweets • 7 min read
Everything you need to know to smash 2023
A thread
To make money trading, you need an edge and the ability to execute it effectively.
For over 15 years now, I have taught how I both read price and trade these markets.
However, recently, I have been talking more about you: the trader.
Dec 30, 2022 • 10 tweets • 2 min read
Increasing performance is a process more complex than simply stating your problems and giving broad, generic solutions.
Traders say to me things like: “I need to start journaling to improve”.
This is nothing more than a statement of intent.
It doesn’t help you to take action.
To improve, you must:
1. Actively work out HOW to implement a solution to an existing problem (It helps enormously to ask yourself why you have the problem in the first place)
2. Implement that solution
3. Continually evaluate the efficacy of that solution going forward
Dec 30, 2022 • 14 tweets • 2 min read
Some pointers for your 2022 trading review
A Thread
A year end review can be boiled down into three simple questions:
1. What worked well? 2. What didn’t? 3. What’s next?
To do a deeper dive, here are some key questions to ask yourself.
This is, by no means, an exhaustive list.
Remember: Curiosity is the basis for improvement
Dec 22, 2022 • 45 tweets • 6 min read
The progression of a trader: Surviving to thriving
A thread
Your very first aim as a trader should be survival.
Survival is built upon the foundation of realistic expectations.
Dec 19, 2022 • 21 tweets • 4 min read
Trading while in a full time job
A thread
I’m frequently asked how one should trade when in a full time job.
I did this for many years.
In actual fact, I built the record I used to get into prop whilst working a 9-5.
So, it can be done.
Dec 11, 2022 • 15 tweets • 3 min read
How I prepare for the market open each week
A thread
As I’ve mentioned before:
Saturdays are for reviewing the week that was.
Sundays are for planning the week to come.
This is the process I follow Sunday evenings.
I do this around two hours before my broker opens (9PM UK):
Dec 9, 2022 • 13 tweets • 2 min read
How to execute when in drawdown
A thread
Traders often ask me if I get fazed by drawdown.
The answer is no.
I have absolutely 100% conviction in my edge.
I never lack conviction, even for a second.
Fuck fear.
Fear breeds losses.
Nov 25, 2022 • 19 tweets • 5 min read
I've posted a lot of threads recently.
I've bought them together (and included some older ones) for easy reference:
The best trade caller I've ever known
A thread
This is the story of someone who could read the market well but could not translate it into profitability.
I originally tweeted this around 2.5 years ago.
I repost it today, almost word for word.
Nov 21, 2022 • 21 tweets • 4 min read
Fading for a living
A Thread
In last night's webinar, I retold the story of a trader I knew that made his fortune fading everyone.
I want to retell it because it's not only fascinating but a fantastic lesson in executing an edge and not second guessing yourself.
Nov 19, 2022 • 15 tweets • 2 min read
The one thing I'd have done differently
A Thread
If I could go back in time and do one thing differently in my trading career, it would have been to stop wasting time.
Nov 18, 2022 • 13 tweets • 3 min read
The greatest wtf moment in my career
A Thread
I like to retell this story from time to time because it was the day, I truly learnt you're sometimes just one trade away from losing everything and there is an element of luck in this business.
Nov 17, 2022 • 4 tweets • 1 min read
There is a dearth of setups for me today but this one (from the orange line) in USDCHF is bread and butter. Will see if it can tag 0.9547
Just realised there are three orange lines on that chart lol
Hopefully you realised the one I am talking about entry from (not the upper and lower ATR)
Nov 16, 2022 • 19 tweets • 3 min read
Lessons from the biggest traders I've known
A thread
Almost every day in prop there was a lesson to be learnt.
I was the recipient of much advice from one particular legend in the pits, who used to walk around, pointing a stubby finger at traders and spouting pearls of wisdom laced with profanities.
Nov 14, 2022 • 4 tweets • 1 min read
Based on these drawings?
1. Don't blindly buy a level that has been hit as support multiple times
2. Don't blindly sell a level that has been hit as resistance multiple times
3. Recognise you will miss trades (but investigate this phenomenon carefully and see if changes are needed)
4. Consider cancelling a bid if you miss the first retest and it moves away before coming back
Cont...
Nov 12, 2022 • 15 tweets • 1 min read
My Edge
A Thread
I don't think my edge lies in the fact I can spot a good level to trade at.
This is important. But it is not my edge.
Nov 9, 2022 • 9 tweets • 2 min read
A few thoughts on "catching a falling knife"
A (Short) Thread
First things first:
How you define the trend depends on the time frame you are viewing the market through.
Trends can merge.
A downtrend on a 1m can be in the context of a daily uptrend.
The concept of trading a pullback is fading a short-term trend and joining a longer one.
Nov 8, 2022 • 26 tweets • 4 min read
Patience:
How to develop it as a trader.
A Thread.
To develop any skill, you need the motivation to do so.
So, let’s begin there.
The quickest way to get motivated to develop patience, is to understand the true cost of impatience.
Nov 4, 2022 • 8 tweets • 2 min read
The Daily Plan (A Thread)
When I started out in prop, we had to fill this sheet in every single day we traded.
It still remains one of the most useful things we did to improve as traders.
The reason for this, is the structure it provided to each trading day.
The first section gets you paying attention to the economic calendar so you can assess what the market is waiting for and the times you can anticipate volatility.
Oct 25, 2022 • 13 tweets • 2 min read
A year in the life of a trader
A thread
January:
Watch a YouTube video of a 19-year-old trader at the wheel of a Lamborghini.
Send him a message to ask how you too can start making money.
Receive a link to a highly reputable broker - a paragon of financial excellence.
