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Trading Tips And Planning

We hear this a lot. Every day.

"I know how to trade really well, if only I could trade less."

Of course they catch the big winners, they are taking every trade. But guess what, the losses are killing them.

One day away

Regardless of their progress, all of these traders are one day away from blowing an entire account.

Why? Because they are either:

  • Willing to take massive drawdown
  • Lack enough planning to know when NOT to trade (yes, you're overtrading).

Focusing on the tools and your charts is avoiding your real problems:

  • Well-executed risk management
  • Your relationship with money
  • Doing the work of creating an action plan you really follow

"Maybe it IS about the risk management?"

Doing the hard work isn't fun, you will avoid it and drift back to new strategies.

The work doesn't give you the rush like a green trade. But nothing feels as good as being net positive month-over-month.

Walking off path isn't just slowing you down, it's moving you backwards.

  • Every day you have poor risk control, you deepen your bad habit.
  • Every day you take random trades, you are strengthening your inner gambler.

Each one of those days takes you further away.

You are going to have to spend just as much time to walk back all those bad habit days before you even start to succeed.

That endorphin rush from going green one day feels good, but you always give it back in time -- are you seeing the cycle? the casino is winning.

Take as long as you need.

But you can't skip the risk management. There is no other way.

Okay okay. So what can I do?

  • Calculate your max daily risk so you’d need at least 10 losing days in a row to blow up an account.
  • Never, ever, ever break your max daily loss rule. Ever. Full. Stop.
  • Reduce your contract size as far as you need so you can actually follow your rules this time.
  • Yes, read some psychology books. But stop over-consuming and start doing (not just planning).
  • Journal how you feel and what you see; before, during, and after your trading. Keeping that stuff in your head isn't having an impact. Write it down and make it real.
  • Have a trading buddy or coach. Someone who holds you responsible without judgement, only constructive criticism.
  • Build your confidence and plan your levels yourself. Take trades based on those levels and watch them work. You need trust in yourself or you'll be prone to seeing "opportunities" all over the place.
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Not A Broker-Dealer

We are not a broker-dealer, as such term is used in United States financial services regulations, and that we do not trade securities on our or another party’s behalf as part of the Sites or Services, nor do we directly offer any financial advice of our own as part of the Sites or Services.

Risk

Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Trading Evaluation Disclaimer

The candidate pass rate of the BluSky evaluation program was 16.9% between April 1, 2023 – Nov 30, 2023. This percentage is based on users that entered the Trading Evaluation and entered the BluLive stage during this time period. The Trading Evaluation is a realistic simulation of trading under actual market conditions and is difficult to pass even for experienced traders. The Trading Evaluation is not suggested for individuals with minimal trading experience.

Hypothetical Performance

Hypothetical performance results have many inherent limitations, some of which are last updated June,6, 2022 described below. No representation is being made that any account will or is likely to achieve profits or losses like those stated herein; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program despite trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

Testimonials

Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.

General

We urge you to not blindly follow anyone's trades, including ours. It is your responsibility to do your own research and determine each trade you place in the market. We are not financial advisors, nothing in any of our presentations is intended as investment advice. Trading in any market is very risky. By showing our own processes and tooling, we are only trying to educate you in the market. In fact, most trader's do not succeed. We are hoping to help you learn more and demonstrate ways you could potentially increase your chances. But using any of the systems/platforms/indicators/strategies we demonstrate will never be a guarantee of success.

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