There are many things you can to do help identify trades and be consistent. Few traders will follow through on the things required, and therefore most traders struggle. The ones who learn to do what's required become the few who succeed. You must find your own path to success in trading, as every person is unique, and their interests, skills, risk tolerance, resources, time, etc., and so much more make trading something that each person must define for themselves. If you took Thomas' trade plan exactly, it may not work for you - you must make it match your style that you will discover.
Here are some suggested places to start. This is your journey and you must find your way through it - use these to guide you.
Read this knowledge base article on what's available to you at BCT
https://support.basecamptrading.com/hc/en-us/articles/360048212453-How-do-I-get-started-at-Base-Camp-Trading-
Watch the live or recorded sessions from Tuesday Night Training. Continue watching these until you're comfortable with the content. It's ok to watch them more than once, or several times.
https://basecamptrading.com/member-home/office-hours/
Get the Naked Trading Mastery course, and commit to learning everything that's in it. This is the foundation of every trade we take at BCT. Watch this course repeatedly until you've learned nothing from it, then watch it again 3-6 months later to see what else you'll learn from it. Keep repeating it every so often.
https://basecamptrading.com/courses/naked-trading-mastery/
Write out your trading plan, which is a written approach to everything you do in trading. That includes how much of your account to trade, how you'll practice in paper trading, when and how you'll transition to real trading, how you'll keep up with learning, as well as detailed strategies that you use. This is where most failed traders dropped the ball and didn't do this part. This is your business plan and hold yourself accountable to it. Without your plan - your set of rules - you will likely struggle to be consistent.
Follow your trade plan. Only do things as defined in your trade plan. If there's a question or situation you don't have an answer for in your trade plan, add it to your trade plan, then follow it consistently.
Paper trade your plan using the same parameters you would with real trading (i.e., if you have $10K to trade, then use $10K in your paper trading). Prove that you can be profitable in paper before using real money.
Create a trade log and log every trade - yes, even paper trades. Your log could be handwritten in a notebook, or in a spreadsheet. Collect the details that help you determine whether you're following your trade plan. Periodically analyze your trade plan, and note where you followed your plan vs where you didn't. See if the trades that followed your plan worked. If you followed your plan, then you can start to tweak your plan to make it better. If you didn't follow your plan or continually broke the trading rules you've set for yourself, then you can't determine whether your plan is working.
Start to identify where you want to focus your trading. E.g., Futures intraday trading, or EGOS, or 11-Hour options, etc. Accelerate your learning curve by taking BCT's courses. Intensives are the most complete training we have, though they're also the most expensive (but are the most valuable). Update your trade plan with your new knowledge and strategies, and work them into your trading.
Continue to follow the Base Camp Trading trading rooms, and don't be afraid to ask questions. Take courses, read, and continue to optimize your trade plan. Once you're profitable in paper, ease into real trading, and continue what you've been doing as you follow your plan. If real trading isn't profitable, go back to paper and figure out what needs changing. You can do both real and paper trading at the same time to get in more practice. You can be paper trading a new strategy while real-trading the one you've learned well, as you expand your trading experience and knowledge.
Backtesting is also a way to get a LOT of experience fast. No fancy tools are needed - just go back in time in the charts and step forward bar by bar, anticipating how you'd handle trades and instantly seeing the outcomes.
There's more to it, but that's a good start. The decision to do all of these things - or not - is totally up to you. Many traders succeed in following a path like this, but there's no guarantee that trading will work for you. That's true of any significant endeavor you take on in life. It sounds like a lot to do - and it is - but this isn't something you're going to master in a week. But neither is running a Pizza business. Or getting a college degree. Get started and pretty soon you'll find you're gaining experience through hours of practice, and you're on your way.
IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone. Disclaimer: Futures, Options, and Currency trading all have large potential rewards, but they also have large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, options, or currencies. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. MicroQuant, LLC does not verify the performance track records of any third party offers. Prior to purchasing any products or services from third parties it is your responsibility to perform your due diligence and verify such claims before purchasing. As always, past performance is not indicative of future results. CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
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