The Disciplined Trader
Traders all over the world suffer from one problem. They lose money consistently. Dive deeper and you will find that the reason they lose money is that they either don’t have a trading system or if they do then they don’t follow it.
- They Break their rules
- They Don’t follow their plan
- They Don’t have a plan
- They Don’t have a system
- They Don’t have a mentor
- They Don’t have a support mechanism (community)
- They Don’t have a trading edge
- They Don’t have a probabilistic mindset
- They Don’t have the most important trait of successful traders – Discipline
We at iTradeAIMS recognize this as the biggest and most important problem. This is why we would like to present to you a simple solution to eliminate this problem.
Allow me to repeat one more time that the biggest problem of traders all over the world is only this; The LACK OF DISCIPLINE.
We present a logical and achievable 3 stage training process that will, if followed correctly, turn YOU into a 100% disciplined and consistently profitable trader.
If you are struggling to find success then we would like to urge you to please accept the challenge and start Your 3 Stage Training Challenge Today.
Learning to trade successfully can be a frustrating activity at first and often quite complex.
Inspired by Mark Douglas’s idea of Probabilistic Mindset presented in his book “Trading in the Zone” and Josh Kaufman’s famous Ted Talk “The First 20 Hours” and his book we present to you here, a comprehensive pathway to successful trading.
Why is it so hard to learn new skills in the beginning?
“Most of us are deeply disturbed at the prospect of being horrible at something, even temporarily. When you try something new, you’re usually very bad, and you know it. The easiest way to eliminate that feeling of angst is to quit practising and go do something else, so that’s what most of us do.
The early hours of trying something new are always challenging, but a little persistence can result in huge increases in skill. The human brain is optimized to pick up new skills extremely quickly. If you persist and practice in an intelligent way, you’ll always experience dramatic improvements in a very short period of time.” says Kaufman
Following this plan will allow you to undergo a gradual evolution process. You will become a consistently successful trader.
This process can be applied by traders of all experience levels. It does not matter if you have been trading for a month or 10 years.
Whether you have just started or have been trading for 2-3 years you can benefit from this concept.
We have worked with thousands of traders from around the world. We have learned a lot from them. Having worked with traders for over a decade we know that the most important factor for trading success is … “Discipline” or the Lack thereof…
Most traders are not disciplined and those who think they are disciplined are mistaken most of the time.
They simply take it for granted. Trading attracts very clever and successful people. Most traders have already found some success in other parts of their lives. They assume that since they were disciplined in a different field of life they will automatically be disciplined in trading as well.
That could not be farther from the truth. Trading is a different ball game.
Top 3 tips for mastering a new skill? (by Josh Kaufman)
“First, decide what you want to be able to do. I call this a *target performance level*: what does skilled performance look like? If you have a clear idea of how good you want to become, it’s much easier to find specific practice methods that will help you get there as quickly as possible.” says Josh Kaufman in his Forbes Interview.
In stage one, you decide to learn to trade the Setup 1 Strategy but at the same time, your objective remains focused on becoming a disciplined trader.
Second, break the skill down into smaller parts. This process is called *deconstruction*. Most skills are really just bundlles of smaller subskills you use at the same time. By breaking down the skill into managable parts, you eliminate the early feelings of overwhelm and make it easier to get started.
In trading, you learn about the Entry Method, Exit Method, Trade Management, Risk and Money Management. You will also learn about several techniques of Technical Analysis and trading indicators.
We will break this down into smaller chunks. In stage 1 you will focus on 3 main indicators and Entry Alert. You will focus only on a single entry method. You will be given a simple Trade Management plan which will automatically decide your Exit Technique.
Third, practice the most important subskills first. A few subskills will always be more important than others, so it makes sense to begin by practicing the things that will give you the greatest increases in performance. By focusing your early practice on the most critical parts of the skill, you’ll see a dramatic increase in your performance after a few hours of practice.
Disciplined Trading is the most important and core skill a trader must acquire. This is why we have put this at the core of this training process. The T20 Principle will help us achieve this.
This is why we have devised this 3 stage training mechanism and integrated it into the Core AIMS Trading Course.
Brief Introduction to the 3 Stages:
In Stage 1 you work on your discipline. You will be learning and applying our core trading strategy called AIMS The Setup Strategy. You will learn and trade only what we call The Setup 1.
You will be required to create a written trading plan and accept and apply the T20 Discipline Challenge.
How you trade during Stage 1 is Predefined and Prescribed. The best way to learn a new skill is to break it down into smaller chunks.
The three stages have broken down the skill of trading into 3 parts.
It is an objective and rigid plan.
There are no rule changes that you can make to adapt to your style. However, as you continue to progress you will learn about yourself, the market and what works especially for you.
You will then take those lessons into account and integrate it into your Stage 2 plan.
Stage 3 will often be a very unique trading plan that applies specifically to you and you only.
But before you get to that stage you have to earn the right to be there.
How Long Does it Take to Complete A Batch?
The speed at which you complete each stage will depend on the trading or chart time frame you have chosen. And the time frame you choose will be largely dependent upon your lifestyle. No matter what it is, you should go with what suits your lifestyle and personality.
If you chose anything between H1 to D1 time frame, you will complete at least 5 Batches of T20 trading only Setup 1. It will take 1-3 months.
If you trade intraday then it should take you no more than 1 month to complete at least 1 batch. Intraday time frames are anything below the daily time frame, including H1, M30, M15, M5 and M1.
If you chose to trade the shorter time frames of M5 or M15 then you need to have 5 Batches of T20 Trading only setup 1.
Your target is to achieve at least an 80% discipline score per batch.
You need to be able to achieve an average of 70% discipline for all the batches before you move to stage 2.
Stage 2 is created as a result of the review at the end of Stage 1. You will now add the Hunt Entry Signals to your Setup 1 Template. Complete another 5-10 Batches depending on your time frame selection as above.
Stage 3 is the pinnacle where you have a fair idea of what type of trader are you and what type of entries and trade management works best for you. Most probably now we might introduce you to AIMS The Fruit Method. It’s more personal at this stage.
But remember, you can’t take a short cut to get here. You have got to pay the “correct” price.
Keep in mind that you will be connected to us, the AIMSters, via our Live Trading Group (Join The Discord Server) and through your Journal that you keep within the AIMS Forum, during the entirity of this process.