Hey Mike. Not sure where you’re at, thanks for everything. Couldn’t email you or visit your kronicle site like I used to. Miss you man. All the best. Hope all is well, and that you’re just taking a break.
Having a good dataset is probably the most important thing and you can’t get that without consistency. Thats been my biggest hurdle. But habit building has helped me quite a bit to give myself a process to start. Then when I started taking action on it, it started becoming easier. But only after doing it often enough. Right now it’s still a little painful to force myself through it, but hopefully it goes from a system 2 process to a system 1.
Thank you Micheal . Your insights have started my trading off with some habits that will definitely benefit me in the coming years. I would love a video about your take on Memoir of extraordinary popular delusions and the madness of crowds. Love it
Hey Michael, do you know the math intuitively on dynamic risk adjustment? I don't want to use full-Kelly and it seems like DRA is better than half-Kelly. For someone with a positive win-rate and bigger winners than losers (somewhere around 65% and 1.5R to 0.8R for me, it moves some based on management). It should make sense to decrease risk a little after each loss, reset to neutral after a win, then increase a little after each win, right? I'm starting at 5%, dropping down to a minimum of 2%, and climbing to a maximum of 9% (max 3 steps down from neutral, but 4 steps up, since win-streaks have a probability to be slightly longer than losing streaks). I've been digging more into the numbers lately to help prevent me from making dumb decisions psychologically like blowing up my entire upwards equity curve in one or two sittings where I just lose my cool at a losing streak. I think the better I can wrap my head around the numbers the more it will do for me. It's starting to shift my perspective a lot, still requires some faith that the probabilities will play out eventually in reality but it's better than just trying to execute a strategy without that context.
Came back to the channel to rewatch this video having a tough time with myself recently. Detaching from the money and outcome of any one trade has been so tough while on a losing streak. Hope all is well. Thanks again.
Would love to hear you speak about mindset when starting with say $5k vs $50k (cash account no margin). I think a lot of people have to start extremely small because of corporate greed and having to settle for jobs that pay less than they are worth but also want to trade and invest in their future or maybe they are forced to manage their own retirement due to not having a 401k plan at their job. Great ideas on mindset in this video!
Hi Michael, I’ve attempted to purchase the online course multiple times now with multiple cards and each time it says the credit card info is invalid. Is anyone else having this issue?
Coach Mike, I traded like a broke ass bitch today :(. However, the norm for the past 4 months has been consistent process. Thanks for all you do sir, you’ve helped me so much.
Need your videos back Mike!!!!!! All your videos provided so much value for me this year thanks
We miss you, Michael. I need your daily pep talk!
Hey Mike. Not sure where you’re at, thanks for everything.
Couldn’t email you or visit your kronicle site like I used to.
Miss you man. All the best. Hope all is well, and that you’re just taking a break.
Any opinion sounds kind of good. That is so true…
Having a good dataset is probably the most important thing and you can’t get that without consistency.
Thats been my biggest hurdle.
But habit building has helped me quite a bit to give myself a process to start. Then when I started taking action on it, it started becoming easier. But only after doing it often enough.
Right now it’s still a little painful to force myself through it, but hopefully it goes from a system 2 process to a system 1.
Thank you Micheal . Your insights have started my trading off with some habits that will definitely benefit me in the coming years. I would love a video about your take on Memoir of extraordinary popular delusions and the madness of crowds. Love it
Hey Michael, do you know the math intuitively on dynamic risk adjustment? I don't want to use full-Kelly and it seems like DRA is better than half-Kelly. For someone with a positive win-rate and bigger winners than losers (somewhere around 65% and 1.5R to 0.8R for me, it moves some based on management). It should make sense to decrease risk a little after each loss, reset to neutral after a win, then increase a little after each win, right? I'm starting at 5%, dropping down to a minimum of 2%, and climbing to a maximum of 9% (max 3 steps down from neutral, but 4 steps up, since win-streaks have a probability to be slightly longer than losing streaks). I've been digging more into the numbers lately to help prevent me from making dumb decisions psychologically like blowing up my entire upwards equity curve in one or two sittings where I just lose my cool at a losing streak. I think the better I can wrap my head around the numbers the more it will do for me. It's starting to shift my perspective a lot, still requires some faith that the probabilities will play out eventually in reality but it's better than just trying to execute a strategy without that context.
Thank you very much. Consistency. Confidence.
Came back to the channel to rewatch this video having a tough time with myself recently. Detaching from the money and outcome of any one trade has been so tough while on a losing streak. Hope all is well. Thanks again.
Trade smaller and cut your frequency
Would love to hear you speak about mindset when starting with say $5k vs $50k (cash account no margin). I think a lot of people have to start extremely small because of corporate greed and having to settle for jobs that pay less than they are worth but also want to trade and invest in their future or maybe they are forced to manage their own retirement due to not having a 401k plan at their job. Great ideas on mindset in this video!
Always start with a cash account to build your strategy and test its profitability. Only size up after demonstrating profitability and consistency.
Hi Michael, I’ve attempted to purchase the online course multiple times now with multiple cards and each time it says the credit card info is invalid. Is anyone else having this issue?
🙏
Coach Mike, I traded like a broke ass bitch today :(.
However, the norm for the past 4 months has been consistent process. Thanks for all you do sir, you’ve helped me so much.