Trading Monk @DhammaTrader

This video will make you a profitable trader 👇

You trade live because you KNOW there's an edge. You KNOW the math works over time. So WHY are you trying to "learn" from every single loss? A rule-based loss isn't a FAILURE. It's the system doing EXACTLY what it's supposed to do. If you're still treating losses as problems to fix, you DON'T truly understand edge yet. You don't understand positive expectancy. And that means you'll BREAK during drawdowns. You'll tinker. You'll "improve." You'll abandon ship. All while thinking you're growing. If you REALLY trusted your edge? You'd know the only thing that matters is EXECUTION. Win or loss? That's on the system. YOUR job is simple: Don't deviate from the rules.

Save this. Print it out. Pin it up. Read it and use it daily.

Dan Zanger in Momentum Master: “Observe and live in the firestorm of the market for a few dozen years, and you’ll learn not to stick your hand in the fire when you see it. I got burned too many times to forget what “chop and slop” truly means, whether long or short. Market behavior follows distinct repetitive patterns that teach clear lessons, so when you see a market starting to act badly, you’ve learned instinctively that it’s time to back off for the required weeks or months. During that time you don’t go on vacation and turn your back on the market; you still need to be watching the market every day so you’ll know when it has calmed down and is back to normal. Diligence even during a choppy market is part of good timing.” Zanger’s point is that the market has a certain feel when it is healthy and a certain feel when it is not. After enough time watching it, traders learn to recognize when conditions have turned hostile. In those periods, the issue is not just that setups look less clean. It is that the market stops rewarding good decisions. Breakouts fail, reversals stall, momentum fades quickly, and both longs and shorts can get chopped up. Experience teaches that when the market starts acting this way, it is usually better to back off rather than keep forcing trades. But backing off does not mean disconnecting. It means staying close, continuing to watch, and waiting for the market to settle and return to a more normal rhythm. That idea connects directly to follow-through, because follow-through is really the proof of whether progress is real. A breakout above resistance may look bullish, a strong market bounce may feel promising, and a gap up may grab everyone’s attention, but none of that means much by itself. The real question is always what happens next. Does the stock continue higher? Does it hold its gains? Does it absorb selling and remain in a position of strength? Or does it immediately stall, fade, and slip back into the range? The initial move may create excitement, but follow-through is what confirms intent. That is why choppy markets are so dangerous. Chop is not just about volatility or noise. It is about the absence of sustained progress. The market may still produce triggers, but those triggers do not lead anywhere. Stocks break out but cannot hold the breakout. Strong candles get retraced. Good entries fail to expand. In that environment, the problem is not always the setup itself. The problem is that the market is not in a condition where follow-through can develop consistently. Zanger is also pointing to an important truth about corrections. Markets do not only correct through price; they also correct through time. Sometimes the market does not collapse. Instead, it drifts sideways, churns around, and frustrates traders for weeks or months. That kind of correction can be even more deceptive because it keeps traders engaged while quietly destroying follow-through. It creates movement without progress, action without resolution. Traders who feel the need to always be involved often get worn down the most during these periods. The lesson is that timing is about more than entries and exits. Good timing also includes knowing when conditions are too unstable for real progress to occur. There are periods when the market is calm, constructive, and ready to reward sound decisions. In those periods, follow-through tends to show up more naturally. Then there are periods when the market is unsettled and erratic, where even strong-looking moves struggle to hold. Recognizing the difference is a major part of trading skill and wisdom that no indicator will tell you.

The Importance Of A Stop Loss:

Mark Minervini explained the Holy Grail of trading any stock. Serious traders must watch it.

Until you become deeply committed to the game for the long term, consistent profitability will remain out of reach. Tom Basso became profitable after about four years, using systematic trend‑following built on mechanical models, primarily trading futures across commodities and financial markets. Stanley Druckenmiller reached profitability in roughly four years as well, relying on top‑down macro discretionary trading in global currencies, bonds, and equities. Linda Bradford Raschke took around four to five years to become consistently profitable, focusing on short‑term swing trading built on intraday setups in U.S. equities and futures. Ed Seykota became profitable after about five years through computerized trend‑following systems, trading mostly commodity futures. Michael Marcus also needed around five years, using aggressive position sizing on breakout strategies in commodities and currency futures. Bruce Kovner reached profitability in about five to six years, trading options‑layered macro directional bets across currencies and commodity futures. Paul Tudor Jones became profitable after five years, applying macro trend trading combined with strong risk‑overlay techniques in currencies, interest rates, and commodities. Mark Minervini took six years to achieve consistent profitability, specializing in precision entries on high‑relative‑strength U.S. large‑cap stocks. Jesse Livermore needed about six years, relying on tape reading and trend‑following techniques in U.S. equities and commodities. Marty “The Pit Bull” Schwartz took the longest—about ten years—before becoming profitable, trading technical breakout and momentum strategies in U.S. futures such as the S&P, bonds, and currency.

Market Wizard Linda Raschke’s 12 Technical Trading Rules: 1. Buy the first pullback after a new high. Sell the first rally after a new low. 2. Afternoon strength or weakness should have follow through the next day. 3. The best trading reversals occur in the morning, not the afternoon. 4. The larger the market gaps, the greater the odds of continuation and a trend. 5. The way the market trades around the previous day’s high or low is a good indicator of the market’s technical strength or weakness. 6. The previous day’s high and low are two very important “pivot” points, for this was the definitive point where buyers or sellers came in the day before. Look for the market to either test and reverse off these points, or push through and show signs of continuation. 7. The last hour often tells the truth about how strong a trend truly is. “Smart” money shows their hand in the last hour, continuing to mark positions in their favor. As long as a market is having consecutive strong closes, look for up-trend to continue. The up trend is most likely to end when there is a morning rally first, followed by a weak close. 8. High volume on the close implies continuity the next morning in the direction of the last half-hour. In a strongly trending market, look for resumption of the trend in the last hour. 9. The first hour’s range establishes the framework for the rest of the trading day. 10. A greater percentage of the day’s range occurs in the first hour then was the case in the past, and thus it has become increasingly important to trade aggressively if there are early signs of a strong trend for the day. 11. There are four basic principles of price behavior which have held up over time. Confidence that a type of price action is a true principle is what allows a trader to develop a systematic approach.

After 10s of books read, 100s of hours of webinars/seminars watched, and 1,000s of trading hours since 2006, for me, it came down to these 5 books. If u are curious about my process + what I share & want to learn more, there is no better place to start than the books below. 👇🏼👇🏼

This is why 99% of Swing traders don't make money:

Bullish Momentum Pattern.

@ThrillTrades I love your approach. What is the Win/Loss ratio that you aim to achieve with it? It seems you’ve found a very simple and very profitable setup.

Trade like a monk — calm, disciplined. Cut losses like a sniper 🎯 — precise, no hesitation.

Volume is a gauge of how powerful the buyers are… Never trust a breakout that isn’t accompanied by a significant increase in volume. Stan Weinstein

@ThrillTrades Welcome back! 👌🏻

Work diligently, patiently and persistently. And you’re bound to be successful. — S. N. Goenka

The typical trader doesn’t predefine his risk, cut his losses, or systematically take profits because he doesn’t believe it’s necessary. The only reason why he would believe it isn’t necessary is that he believes he already knows what’s going to happen next. -Mark Douglas

4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique. - Mark Douglas, Trading in the zone

Mark Douglas 5 Fundamental truths about markets: 1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.

"A mistake is when you don't follow your rules. If you don't have rules in trading, everything you do is a mistake." ~ Van Tharp