Another good year

It's the first trading week of August 2015, for those of you that don't know August is a special month for me. It was the first trading week of August 2013 when I moved to the realm of profitable trader. From that moment on I have yet to have a losing month. I will probably never forget what I sat down with my wife and told her of my plan that last week of July 2013. I told her starting August 1 I'm going to trade this one plan and this one plan only for the entire month. I will disregard everything else, and stay focused on just one plan. At the end of that month I had made a small profit. So I sat down with her again told her I finally made profit month end. And I'm going to repeat it again the next month. I have been doing the same thing ever since. I look for the same trade the same setups and trade only the same market. I have only made adjustments when my trading Journal showed that it was necessary. Now in the beginning I did not make very much that first couple months. I started out trading small using only a micro account just as I tell everyone in the forum to do. I gradually increase my position size to where I am today where I have move some of my trading to the futures market due to cost reasons. This brings up another important point. You need to trade small in the beginning because if you can't make money trading a couple micros is no sense trading a larger. But more importantly as you become profitable you need to gradually increase your position sizes not only for money management which is important. But to allow time for yourself psychologically adjust to your trading.

There are important lessons be learned here. The need to be focused. The need to quit searching. The importance of trusting yourself and no one else. The importance of having a spouse that supports you. And the importance to not only grow your understanding of the market but to allow yourself time to grow with it.

I can say with certainty that being coming profitable has nothing to do with trading setups. It has nothing to do with fancy indicators or squiggly lines, pin bars or any other candle formation. To become profitable you need to understand who is in control of the market. Use their orders to run your order to profit. Trading setups that you choose are strictly to control yourself and that's what so many of you need to learn. It's hard because it opposite of what most trading education teaches. As you focus on your chart you should not be looking for setups, you should be looking to determine if the market is being bought up or sold off, are the bears in control or are the bulls. If the bears are in control how far they likely to push the chart before they run smack into a herd of bulls. Once you have determined this you look for the low risk entries. Your entry setups are to keep you from trading haphazardly.

I wish you all a profitable trading. Allen