Mind Over Markets George Papazov

Want to learn how to find out what traders are doing?  This is called following the smart money, and order flow is a key analysis tool to help you gain an edge on the market.

In today’s episode Leo and I discuss our trading into the end of the year, and openly share some of our personal struggles with our trading.  More importantly, we go into details on finding the problem and helping each other fix the issues.

We then move into the topic of using the DOM (or price ladder).  This is a tool that allows you to see EVERY order that trades through the book.  This is a big advantage to find continuation or turning points in the stock market, and to trade with the momentum.

We get down into the nitty gritty details of how to use this tool, and discuss the following in this episode:

What is the Order Book
Visible Liquidity


Big Inventory as a Magnet / Target
Why is a big sell order above a bullish thing?
Why is a big buy order below a bearish thing?


Hidden Liquidity

This was an incredibly fun episode to record with Leo, an amazing trader and all round great person to talk trading with.

We look forward to seeing you at our third installment of Between the Spread series on our podcast.  Just a reminder, new episodes of the series are released on the first Thursday of each month.

Thank you so much for listening and have a wonderful day.

Resources



Follow LEO on Twitter here
LEO's DOM here.
Checkout the TRADEPRO Futures & Order Flow Course here
Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here
Connect with our community online: Trade Pro Academy
Catch up with our earlier episodes: Mind Over Markets Podcast
Join our FREE trading room here
Follow me on Instagram here and on Twitter here

A trading strategy is critical to your success, but do you know the process to create one?

Every day we hear someone telling us that WE NEED a trading strategy.  So much emphasis is put on this topic, that new traders rush the process and are doomed from the beginning.

In today’s episode, we really dive deep into the process you should follow to refine your idea into a professional trading strategy.  It isn’t just about having an idea and then going to SIM to start “testing”.  

In this episode, I give you the complete steps to ensure that you create a strategy that works, because it is battle-tested and aligned TO YOU as the operator.

Here is an overview of the strategy creation process:

Start with an idea.
Create a one-pager. 
Back-test with software.
A/RS - Analyze then Reiterate or Scrap 
Live test in SIM.
A/RS - Analyze then Reiterate or Scrap
Live test with real money, small scale.
Review and create a scaling plan.
Trade, Review & Adjust

If you follow this process, along with the notes in the podcast episode, you will find the flaws in the strategy long before you commit real money to it.

This means that you will have all the confidence in the system and yourself by the time it passes the stringent quality control in the process above.  

You WILL FINALLY find your edge and yourself as a trader - and that should be extremely exciting to you.

Lastly, as promised, here is the “idea one-pager” I started with this holiday season to back test the 30-second opening range.  I have since made MANY changes in qualifiers and avoided the infamous chop that comes with this age old strategy.

The point is, you get an idea for a starting ground FOR YOUR next trading idea.



Thank you for listening, and have an amazing rest of your day.

Resources

Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here
Connect with our community online: Trade Pro Academy
Catch up with our earlier episodes: Mind Over Markets Podcast
Join our FREE trading room here
Follow me on Instagram here and on Twitter here

Today we talk about the art of building and sustaining performance like a top athlete.  I discuss 10 TIPS to get you to step into the mindset of a top performer.  

Think of the greatest things in life you have ever accomplished so far?  What are you most proud of? 

Was it easy to get?  Was it any easier after you accomplished that thing?

Now here’s the real question, if you’re gonna achieve more amazing things, do you REALLY believe it’s gonna get easier? NO!

The truth is peak performance requires constant effort and energy to sustain.  You are never really at the top, even when OTHERS think you are.  You need constant work, internal motivation, and an obsessive desire for success.

Here are 10 tips to help you channel that high-performance energy into your trading:

It never gets easier, you only get stronger. 
You don’t deserve to coast.
You can’t just get back to peak performance, you have to work hard to STAY THERE! 
Your body is your vehicle, it’s your temple, it’s a miracle - treat it well.  
Your mind is a miracle. 
Have an offseason, use it wisely. 
Know when it’s game time, and go hard.  
Look back and see how far you’ve come. 
The past will never be, the future may never come as you expect it. Live in the moment.
Learn to receive. 

Whether you like it or not, as a trader, you are in the business of extreme performance.  You need to constantly work on yourself to maintain a high level of success, because your competition is doing that and more.  

The EDGE in your trading that YOU are looking for IS YOU!

Happy trading everyone.

Resources

Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here
Connect with our community online: Trade Pro Academy
Catch up with our earlier episodes: Mind Over Markets Podcast
Join our FREE trading room here
Follow me on Instagram here and on Twitter here

In this episode Leo and myself talk about the most foundational concept of order flow trading in futures - the time and sales.  This is also called “reading the tape”. 

This is a brand new segment we will be co-hosting and airing together the first Thursday of every month, where we will discuss a new order flow topic each month.

For the first ever episode of our Between the Spread order flow series, we went in depth on these topics and much more:


Market Receipts or (fills) - why it is important to follow these transactions and what information they reveal about large position traders

Order Types - breaking down the types of orders retail and professional traders use and how they impact the time and sales and order flow

At Ask - a market buyer matches with a limit seller
At Bid - a market sellers matches with a limit buyer
Above Ask - a big market buyer purchases all available limits and flips to next level to trade with more inventory
Below Bid - a big market seller eats all the best bids and flips down to next level to trade with more inventory



Above/Below = Sweeps/Aggression/MarketOrders - learning the foundational importance of what sweep orders are and how they indicate an important market sentiment - this will shock you and is opposite of what you think it means.  This is why traders often use it so wrong.
Aggression (responsive) - the concept of how to see aggression in the time and sales and what it means for the current trend and sentiment
Absorption (passive) -  how to find market absorption and when it can mean the trend will continue, or when it is expected to reverse
Speed (how fast orders are coming through) - Gives idea or sense of potential velocity of the upcoming move.

How to spot? Aggression / Absorption / Speed - applicable examples of how Leo and George use this information to form an edge in their trading strategies.

How to respond once you’ve spotted?

This could really be a full on lesson in any order flow day trading course, but we are here to provide information to you so you can get started with reading the time and sales.

It was a blast to record with Leo, and be sure to check him out on Twitter (link below). 

We are extremely excited to keep this series going and the future episodes we have planned are gonna blow your mind.

We need your help though, please leave us a rating and review on iTunes if you love the show so we can bring you more great content.

Thank you for listening, we’ll see you next time.

Resources

Follow LEO on Twitter here
Checkout the TRADEPRO Futures & Order Flow Course here
Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here
Connect with our community online: Trade Pro Academy
Catch up with our earlier episodes: Mind Over Markets Podcast
Join our FREE trading room here
Follow me on Instagram here and on Twitter here

In today’s episode I’ll be talking about an exciting topic - what happens when you start making money in the markets?  What ways can you generate income streams outside of trading with your profits?  We’ll dive into principles of income generation, active and passive source ideas, and I reveal all my income streams on this show.  

Let’s start out by the only two ways you can use to earn income, and it’s important to understand which one will work with your lifestyle at the moment.

There are also only two real ways to actively earn income

Trade your time for money 

This is where most people make their “income”
These are salary jobs that pay you fixed annual income
In exchange you offer your time, your health
You exchange what ELSE you would rather be doing
The perception here is that “risk is low”
Financially, there is a low risk
BUT you are also giving up all and any opportunity to make MORE
NOT ALWAYS - look at Bezos, as CEO he traded his time, for LOTS OF MONEY
But his net worth DID NOT grow from his salary, but his equity stake - which is an investment in Amazon stock 


Trade your money for the opportunity to make more money 

This is how generational wealth is created
We will all need to become investors at some point
Especially if we become great day traders (make lots of money with small money)



In the graphic below, courtesy of MotivationalSpeaks.com, you can see a comparison of how the wealthy spend their time and money, compared to those people without the money mindset habits.  I don’t like the word “poor”, but I think the graphic really helps you compare the mindset of each type of individual.



SOURCE: MotivationalSpeaks.com

In the episode, we also discussed some active and passive sources of income.  These are just ideas, and by no means an exhaustive or complete list.

This should just get your gears turning and get you thinking.  The most important thing to consider is what type of income source will work for you RIGHT NOW.  It takes time and grinding with active sources until you can accumulate some savings to put the money to work.  However, we are always working actively - at any stage of our career and life.

ACTIVE SOURCES

Affiliate marketing
Flip retail products
Start a drop shipping business
Create an app / business
Create a blog or YouTube channel
Rent out your home short-term
Rent out useful household items
Provide work on freelancing website
Monetize your hobbies - photography, video editing, etc

PASSIVE SOURCES

Rental income
Peer-to-peer lending
Dividend stocks
REITs
Purchase private company ownership stake
Advertise on your car

And lastly, here is my personal list of income streams at the moment. I talked about each in detail, and how I plan to expand the streams in the upcoming year.

My Personal Income Streams

Rental properties
Shareholder in private businesses - capital gain and royalty streams
Shareholder of TRADEPRO Academy - active income stream
Crypto node ownership
Stock market portfolio - outsourced
Affiliate partnerships for products I SUPPORT! Never those I don’t.

That is all for this episode, I hope you enjoy the listen and learn a ton.

No matter what stage of life you are in, there is always the opportunity to earn more income, and plan your next big ideas and investments.

Thank you for supporting our podcast; I wish you health, happiness and great trading!

Resources

Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here
Connect with our community online: Trade Pro Academy
Catch up with our earlier episodes: Mind Over Markets Podcast
Join our FREE trading room here
Follow me on Instagram here and on Twitter here

Day trading with hotkeys is an amazing way to increase your speed advantage and to get a better handle on your execution.  I personally don't day trade without them anymore.

However, hotkeys are often used the wrong way and at the wrong time of a trader’s development journey.  

In this episode, I cover these topics and more on hotkeys for day trading:

Who should NOT be using hotkeys yet
Questions to ask yourself to determine if you can benefit from a faster workflow
Hotkeys I use for daytrading, explained one by one
The software and hotkey hardware I use for super quick trading
Step by step process on how to setup hotkeys for any trading platform

One of the most important things to know from the very beginning, is that hotkey trading WILL CHANGE YOUR TRADING, and it could be for better or worse.  It is very important you are only using them when you are ready, and when you have a solid trading plan with a definable edge.  

I would strongly NOT recommend hotkeys for any traders who are dealing with:

Traders working on their impulsive and emotional trades
Someone who doesn’t have a trading plan yet
Swing and longer time frame traders - don’t need the speed edge
New traders - it’s important to do the actions and steps yourself at first
If you aren’t profitable WITHOUT hotkeys, they won’t be the holy grail - they are just assistive technology

If you’ve decided you are ready to take this leap and setup your hotkeys, I’ve included some great questions to ask yourself to identify areas where you can implement hotkeys.

Questions to Help You Uncover Trading Hotkey Opportunities

Do you ever find that you are missing trades because you cannot get in fast enough? If so - you need trade entry hot keys - either markets or limits
Is it hard for you to move your stop loss as you scramble around the price ladder or chart to find where it is and drag it up / down?  If so - stop trailing hotkeys - trail to BE is one I use.
Do you find it hard to move multiple contract stops to one price level, or take profits? If so - move stop and move target hotkeys are great.
Do you sometimes get into trades because you couldn’t cancel your order fast enough? If so - cancel limits
Do you ever wish you could get out of trades quicker?  If so - market exit.
Do you ever wish you can switch between chart drawing tools on your platform?
Do you find yourself doing any repetitive, time consuming tasks overall?

And as promised on the episode, here is a look at my hotkey mapping on my StreamDeck device.  



Remember, this is for Sierra Charts, and your trading platform may not provide some of this functionality.  It is important to check with your platform first, and identify what can be created into a shortcut, and ultimately mapped to a hotkey.

I hope you enjoyed this episode as much as I did recording it.

Happy hotkey day trading, and I’d love to hear from you - how has this process helped you make your trading more efficient?  Are you planning to use hotkeys, which ones did you decide to go with?

Happy trading - and remember, manage that risk and trade like a TRADEPRO.

Resources

Purchase the 15 key Elgato Stream Deck mentioned in the podcast HERE
Purchase the 30 key Elgato Stream Deck XL mentioned in the podcast HERE
Checkout this gaming mouse with 20 programmable hot keys built in HERE
Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here
Connect with our community online: Trade Pro Academy
Catch up with our earlier episodes: Mind Over Markets Podcast
Join our FREE trading room here
Follow me on Instagram here and on Twitter here