Trader Story - #1

“When Trading Goes Off - How to Get Back On Track” or Recover

Trader Background: Don‘s trading went off and he is now doing a technique I call “Bunny Slope”. It’s a method of several rules that teach you how to get back on track after several loses or when trading just off.  

Trading Situation:  “Bunny Slope” is a way to get your trading back slowly. To build consistency and NOT give the market your cash while doing it.   If your trading falls off or you are having many losing trades one after another this is a good way of getting back in the game successfully.

Trader Story:

“Trading started to come under control after our session ... positive for two days with very cautious trading ... let many trades I would normally take go by after I made my initial threshold goal to not give any back.  I felt I was being too cautious and turning my back on trades.  Also, I was not
allowing trades to go to the target I set, rather I was getting out at the first hesitation with a profit. On Wednesday, took some trades with a newer setup after hitting the $25 profit target ... ended up stopping trading early with a slight loss.  No trades on Thursday .. only one good setup (that I missed) before I had to leave.”  Don

Coaching Feedback in color: T- Trader C- Coach

T- Trading started to come under control after our session ... positive for two days with very cautious trading ... 

C- This is very good and feeling in control is the key

T- let many trades I would normally take go by

C- This is OK too try to focus on the future not the past I call this thinking forward not backwards.....we can ONLY change what’s coming not what we've missed

T - after I made my initial threshold goal to not give any back. 

C- This is good and ALSO a temporary situation this will change as your confidence improves - remember patience and DO NOT get hung up on past things

T- and I felt I was being too cautious and turning my back on trades.

C- Your assessment of the situation is accurate, temporary, and will pass over time don’t OVER THINK it. Use each missed trade to fine tune the next one YOU WILL TAKE. The goal is to have good data and clean set ups

T- Also, I was not allowing trades to go to target, rather I was getting out at the first hesitation with a profit.

C- This is also a normal feeling at this stage of recovery.  With each new trade just stay in a bit longer - remember it’s not all or nothing but a slow progression back to great trading, control and confidence. Focus forward

T- On Wednesday, took some trades with a newer setup after hitting the $25 profit target ... ended up stopping trading early with a slight loss.

C- Was this new set-up a tweaking of the old one or a whole new one?  Again focus and sticking to one type of trade till mastered is more important then switching strategies mid stream. Working one till its perfected creates a SOLID feeling create stats that allow you to fine-tune. Remember when going through the “recovery” it’s important NOT to worry about the dollar amount you’re making.  Increasing is easy to do only when you are consistent again.

T- No trades on Thursday ... only one good setup (that I missed) before I had to leave.

C- All is good don’t "push" relax into the trade take small steps to expand time in trade and keep to your goals....they will also stretch with it.

GREAT JOB! - Robin

Method is designed to:

·        Build confidence

·        Gain trading control back

·        Stay out of emotions

·        Improve trading stats

·        Gain back profitability

·        Ramp up to regular trading stride

Basic Bunny Slope Method:

·        Reduce size

·        Set a small goal for the day

·        Go one week reaching the goal and raise it when comfortable

·        Be careful not to push your trading

·        Set strict stop loss

·        Stay disciplined

·        Go Slow