Monday, 6 September 2010

Yes, It can be done!

This post is to show what can be done if a trader is taught how to learn and and is shown what is needed to learn to trade, and he puts in the time and effort that is required.

The formal marathon training finished at the end of July, and the CP traders-to-be continued their SIM trading, using 1 to ones with me as needed. None of the traders were CP before the training, even in SIM. Now, everyone who is reporting their current results to me is hitting their 70% plus win rate. Some are successfully trading live with real money, while others are still trading successfully in SIM, waiting to transition to live when they are psychologically ready. I also had a report back from one of the 5 guys who received the DVDs of the training for free, and he reported an 80% win rate already. Great work! The harder you work, the luckier you get.

But one trader's report this week-end has to be shared. I do so to give all yet to be consistently profitable traders a heads up: Yes, It can be done! I don't want to take anything away from "T" who put in all the hard work and effort, nor do I want to take anything away from all the other students who are making remarkable progress, successfully hitting their targets, but if you read the early posts in this blog you will see me say very clearly that almost everyone can be taught to trade if they are prepared to put in the work and use the right teaching method, provided that they do not over trade for their available capital.

Below is the email I received and underneath that is my reply- let it be an inspiration to all yet to be CP traders:

" Hi Tom,
Here are my stats for the previous week. I started scaling using 2 contracts with fixed profit targets. After the first target is hit, the stop on the remaining contract is moved to breakeven + 1 tick (suboptimal, yes, I know). I also decided to stop trading the 6E until I've gained CP in the ES. After that I might bring 6E back (on SIM). 

My win rate for the 12 trades of the week is 100%. Of these there were 3 scratches, several scratches of the second contract and 1 error (still profitable). 

My win rate for the 25 trades is 100% (counting each scale as a seperate trade).

My win rate for the last 25 trades not counting the scales as seperate trades (which means the last 32 trades) is 96%.

My win rate for the last 25 trades if I remove the washes and don't count scales seperately (which means the last 40 trades) is 84%.

My win rate for my 64 trades in the ES since training started is 76%.
Needless to say I try not to be ecstatic here :-D.

Actually I am experiencing conflicting emotions, most of them like "this is a lucky streak" followed by "if it was this simple everyone would be doing it". Finally , I know the market volatility will pick up soon and I might not do as well at all then. So I am prepared but enjoying the moment.

T   "

"Hi T


I think you have got it. It's not complicated. The markets have been kind to you too but it doesn't matter how you look at it, you have learned to trade consistantly. Your win rate can fluctuate, but unless you completely lose your focus and discipline, I cannot imagine that you will lose your mojo. Most CP traders have a moment that they look back on when everything just clicked. Looks like you have just had yours. Congratulations on the result and the hard work you put into it.

Tom "


  1. Hi Tom. I'd like to get one of the DVD sets but not sure which one to get. Is there a big difference between the Theory and the Live Trading set? I assume the Live Trading set would include all of the theory? Any comments appreciated. rgds. Joe

  2. Hi Joe, the theory DVDs are what you need first as it is a detailed explanation of each of the pictures (setups plus nuances) we use and how to trade them. The Live trading DVDs put that theory into practice. We start each day doing prep and visualization for the FESX and the ES and then spend the rest of the 14 hours plus actually trading the live market. You see how I trade the markets using the theory of all the entries and the exits using money management. I explain my thought processes as we go along. The live trading does include all the theory but has the different picture explanations spread out over the 10 days.

  3. Hi Tom,
    My question is somewhat similar to Joe's. For a day trading novice, which DVD set would be best? I'd assume the CP Set, but not sure if it's too overwhelming for a beginner trying to learn to be consistently profitable.
    Thanks in advance.

  4. Pat, The theory DVDs are just that. Me going over charts of past action explaining pictures and how to trade them. The CP set includes 10 days of live trading with me starting the days with daily prep, envisioning and then trading live as the markets unfold. By no means is it overwhelming. The CP set is a whole end to end process and includes mentoring.