Success in the financial markets comes from having consistently large profits while maintaining consistently small losses. There is no other secret sauce or magic formula. The randomness of the market is decisive. It often will reward bad habits and sloppy trading by offering large profits to gamblers. It may often seem to you that the market rewards impulsiveness and punishes disciplined traders. The only way to bind your risk management, technical knowledge, and psychology together is to maintain an excellent journal and record of your trades. The trader and psychologist, Dr. Alexander Elder, says: “Show me a trader with good records, and I will show you a good trader.” I could not agree more.
That is why I believe this week we are offering perhaps one of the most important webinars we have ever held for our community:
Developing Your Edge/Playbook Through Journaling by Mike Baehr
Date: Wednesday, July 22, 8pm ET
Location: Webinar Room
In this webinar, Mike will help you develop your edge (your edge is your secret to trading success) through journaling and “playbooking” your best trades. Mike will also share how he himself tracks the statistics for each of his trading strategies in order to validate if a particular strategy provides him with an edge in the market. Without good journaling, it is unlikely that even the most talented traders will succeed in the long term. Please, attend this webinar and learn from a veteran, someone who retired from the US Marine Corps (dare I say part of the most formidable military force in the world) as a Sergeant Major after 23 years of service. There is so much to learn from Mike. Every time I see him or talk with him, I must admit, I admire even more his discipline, charisma and leadership skills.
Back during the time Mike was learning how to trade, Carlos initially helped him get going and then became his mentor. Subsequently, Carlos was Mike’s guest at his retirement ceremony at Marine Corps Air Station Miramar in San Diego . In February 2020, at our NYC meetup, Mike gifted Carlos with a shadow box frame that included his military rank badge and a picture of them together. You can watch a video of this presentation here: https://youtu.be/qjCDhZ3syaU
As always, a recording of Wednesday’s webinar will be available for later viewing.
To your success,