Article by Brett Steenbarger on the success of new traders

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Factor Update, September 29, 2018

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1% risk rule

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Can the interpretation of a chart vary depending on screen size?

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Factor Update, September 22, 2018

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Factor Alert, September 18, 2018 — Fireworks in several markets

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Factor Update, September 15, 2018

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Trader's Discipline factor Peter brandt

Patience and Discipline – A Trader’s Friend

 

Patience … Discipline … Discipline … Discipline … Patience

 

I know my sweet spot. Every trader should strive to know his or her sweet spot.  We should strive to only take a trade when the market set up is in our sweet spot.  We should strive to avoid trades out of our sweet spot.

If you, as a trader, do not know your trade set up with great intimacy, then how in the world will you know if you are exercising patience and discipline?

Once you know exactly what your sweet spot is and is not, then the real challenges begin.
 

The real challenges for me (and it could be different for you) are different
nuances of patience and discipline.

Patience to wait for just the right set up
Discipline to sit on the sidelines and not getting pulled into a trade that does not fully satisfy my requirements
Discipline to pull the trigger when the right trade comes along
Discipline to remain detached from open positions and properly manage each trade according to trade management guidelines developed over decades of market speculation
Patience to allow a position with a substantial profit potential the room and time to bear full fruit

 

The above challenges are very, very real. The markets can force a trader to let his or her guard down. The markets are all about forcing traders to make mistakes. Markets are constantly luring traders with such deceptive messages as:

“Trade now and trade often”
“You’re missing out on some good moves”
“The only way to make money is to trade”

 

In fact, there are times when NOT trading can be the action with the best outcome. Trading just to trade often leads to drawdowns. Then comes the urge to find trades in order to recover the drawdown. Often this leads to a worse drawdown. Before a trader knows it he or she can be in a 20% to 30% or greater drawdown resulting from trades that never really qualified as trades in the first place. This is when the the capital drawdown becomes a significant emotional drawdown. Vicious cycles can easily come upon us as traders.

 

 

Factor Membership

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Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

checkTrading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book
checkWeekend Update: 10-16 pages full of in-depth chart analysis and charting commentary
checkAlerts: Detailed information on specific charts as unique opportunities present themselves
checkMarket Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically
checkWebinars: Monthly member-only webinars where Peter speaks about current conditions and fields member questions
checkKnowledge Center: Fast and easy access to current and archived content from Peter’s extensive library of content
checkAutomatic notifications: Email and social media notifications are sent out when new content is published

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View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work. Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about. For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.

Factor Trading - An Introduction

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Factor Update, September 8, 2018

This content is for members only

Gold Possibility

The possibility continues to exist that Gold is forming a massive inverted H&S pattern on the monthly chart.

However, a close below 1180 would place the possibility of the H&S pattern into doubt. A close below 1124 would suggest a retest of the 2015 low at 1045.

 

Gold possibility - Peter Brandt - Factor Trading

Silver however completes another bear pennant.  The 2015 low of 1363 is now with spitting distance.

 

 

Factor Membership

.

Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

checkTrading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book
checkWeekend Update: 10-16 pages full of in-depth chart analysis and charting commentary
checkAlerts: Detailed information on specific charts as unique opportunities present themselves
checkMarket Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically
checkWebinars: Monthly member-only webinars where Peter speaks about current conditions and fields member questions
checkKnowledge Center: Fast and easy access to current and archived content from Peter’s extensive library of content
checkAutomatic notifications: Email and social media notifications are sent out when new content is published

.

View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work. Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about. For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.

Factor Trading - An Introduction

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