Thursday, 15 July 2010

Guest Blogger Alan

Hi from Kiki,

 I am posting the next guest blogger tonight for EL as he is still training.  Thanks again, Alan.

Anyone who’s been around trading for a while knows there are two critical aspects of trading success: (1) A methodology with a consistent statistical edge; and (2) The discipline to flawlessly execute the methodology.

Sounds simple, but like everything else in life, the devil’s in the details. That’s what the EL training is about – the details. We’ve only completed three days of a months-long process, but already we’re digging deep into both the mechanics of creating a tradable system, and the psychological mindset required to execute a trading plan.

I’ve been working on my trading plan every day, and each time I review it I see it’s lacking in – you guessed it – DETAILS. It’s the small stuff that reveals the big picture.  Sometimes we get lazy and think that if we can grasp the big stuff, the small stuff will follow. What we’re doing in the EL training is the other way around. It’s like that old Chinese proverb: “A thousand details add up to one impression.” Or as EL might say, “A thousand details add up to one picture” – a picture of what a good trade looks like.


  1. Hi EL,

    I was wondering what your take on the Schonfeld letter is:

    Concerning the troubles of small traders in the current environment.

  2. Alex, looks like a reality check to me.

    I'm going to write a post in response to your question. Watch out for Monday's post. Thanks for asking me to comment. I heard about the letter a couple of day's ago but had not read it.

  3. I think the letter is utter hogwash. It may apply to stocks but I have been watching virtually every tick on the ES for the past 5 years and I see more opportunity these days than ever. Every day there is ample opportunity to make a very large income without having to risk the farm. There must be something else going at the prop firm to trigger that plan.