Ranges. Most have a hard time trading in what they think is a range. The truth is just about 99% you are always in a range, at least when you jump up to higher timeframes. That's the first thing to realize, you are never not a in range. With this ground rule in place, we then move on and talk about the rules for trading in a range. We talk about general guidelines to follow. We also dive into what we call "calling the bluff"-- the real simple concept is that most breakouts fail and how to approach this when it's obvious the your control chart timeframe is in a range.
Discover the common element that all successful traders have, that's what we discuss in today's episode. We dive deep and go beyond the surface level of what is called conviction. We talk about what really makes conviction and how conviction plays a critical role in every aspect of your trade execution. We also discuss the critical elements of having a reliable system that predicts the market and instead of being reactive. That predictive ability comes from convection. In some ways it is a circular argument but we expand on this in this episode.
In this episode, we answer some of the top questions asked by traders in our group. Let's jump in and get started.
What do you do with conflicting signals?
The quick answer is you must have a control chart. Your control chart is the controlling chart for your thesis of the trade and controls the probability of that trade. Then looking at other indicators and other charts should either confirm or deny your thesis from the control chart. Listen for more…
Fade Trade and How to Get Your Fade Trade?
We say this often… if you haven’t mastered momentum trading you haven’t gained your fade card. The path to mastering fade trading is to first master trading with momentum. What you find is momentum trading almost becomes way too easy—but guard yourself. What is the purpose of trading? To pull capital from the market. In this convo, we go deeper about fading and the pitfalls of why traders fade instead of trading the most reliable trades. Listen for more…
Can you over trade or what is over trading?
We have a different take… can you really over trade? We start with this question. Is it really possible? What does over trading really mean? On most things, we try to provide a definitive answer, but here we realize that over trading really comes down to the individual and their trading system.
How does the market really move? In this introductory conversation we talk about how the market moves at a high 10,000 ft level. This should be no surprise to anybody who has followed RDT-- the market moves from level to level. What does that really mean? NephewElite shares some of his thoughts on what he's learned in his short trading career and then RexDogActual jumps in and finishes it off. We title this talk introductory because in further discussions about bias and momentum, we break down even further how the market truly moves.
Show notes and bonus video can be found here: https://rexdogtrading.com/always-in-podcast/how-the-market-moves/
To have edge, you must be trading with conviction. To trade with conviction, you must have a trade system you believe in and trust. Your trade system should be built on what we call your own theory of the market. This is how the market moves, how it reactions, maybe even why it moves and reacts.
Your own theory of the market doesn't have to make sense to anybody else, i just need to make sense you and provide your edge and conviction. Sure, there are fundamental ways the markets moves and many of how we think, talk, and trade it have already been defined. This is what we call basic trader knowledge. Seldom is there an edge in that. What we discuss in this episode is to go beyond that. To share that, you have permission to create your own theory of the market. We discuss the why and a bit of how to do that it today's episode.
Show notes and bonus content found here: https://rexdogtrading.com/always-in-podcast/creating-your-own-theory-of-the-market/
In the first episode we start with a question all traders face… am I crazy? The answer is yes and no. We start by really asking or sharing what happens when you tell other people you are trading. NephewElite has dealt with this first hand the last few months as he has transitioned to becoming a full-time trader. Rex shares his perspective on what happens when you share you are a trader and why you most likely shouldn’t. This being the first show, we also introduce ourselves a bit and share some background. We are new to creating the show and figuring out the best dynamic between us, what provides the best insight and value and entertainment. We will figure out the best that works and grow into it. Any feedback you have, please get in touch and share.
You can find this show and any extras mentioned at: