Fast Track Your Learning Process! - Lori's Fast Track Learning Technique


#1

Have you seen Lori’s Daily? Or maybe you’ve seen Lori in the Elite Room or on a THT webinar. Want to get where she is in her trading?

The best way to do that is to FOLLOW the path Lori took. Bellow, is her path spelled out for you in detail.

FAST TRACK YOUR LEARNING PROCESS

  1. Watch the training course several times. Pay attention to every detail given. Take notes. Watch again.

  2. Look at still charts and mark up all the setups you see in a day in the market of your choice. Give screenshots of your marked up setups to Lori or a team member to check and see what you understand or still need help with. "You don’t know what you don’t know until someone who does shows you." - Darrell Martin

  3. Go into NinjaTrader market replay and practice. Replay a 2 to 3-hour morning session because they generally have more setups, so that is a more active practice session, NQ seems to have the most setups. Be sure plot markers is on showing where your trades were. These can be turned on in the data series at the bottom. Screenshot your morning, and mark up all the power plays that set up that morning. This will show you where you need work. i.e. are you missing a specific type of power play, or are you slow seeing setups or jumping in too fast. Doing this will help show you where you need work in the live market. Always replay on single speed so you learn patience. When you have gone through this process, repeat until you are taking nearly all the same trades in the live replay market that you are marking up afterward on the still chart.

  4. Do not interpret practicing in replay as collecting ticks. It does not matter how many ticks you collect during this practice time. It does matter how well you see power plays and how well you are managing the trades you take. This is the time to make the mistakes and learn what to do and what not to do. “It is much less painful and cheaper to learn in practice/demo than in live trading.” - Darrell Martin The following bad habits need to be broken while in demo before going live: A. No chasing a trade. If you missed the entry, do not enter late. Wait for the next setup. B. No forcing a trade. If the setup does not have all of the components, then it is not a valid setup. If you are “stretching” something to “fit” the setup, it is not a real setup. C. No taking a trade because you missed the last one or it stopped you out and you are trying to make that up without a real setup. D. Interpreting what you see in live different than when you see it on a still chart. Everyone has taken a trade that they went back over later and thought…why did I take that trade? … that was stress in the heat of the moment causing you to see things differently than they were. E. Drop the “need to be right.” The market is always right. We can only control our entries and exits and getting the best “edge” we can get.

Everyone makes mistakes, learn from them while in demo. Practice until you can answer all these questions with a yes. A. Did you follow the rules for setup entry? B. Did you place your stops correctly? C. Did you trail reasonably well to protect some profit along the way? D. Did you lose your habit for taking “creative entries.” Creative entries are those entries that did not have a power play but you thought it looked like a good place to enter. The market will correct you nearly every time you take one of these which will hurt you psychologically when trading. If you are prone to taking creative entries or over trading, try limiting the number of trades you allow yourself to take in any session to 3 to 5 trades. Start at 3 work to 5.

Practicing in replay is NOT about collecting ticks. It is about learning to trade well. When you do that, the money will follow. If you take a trade that loses, but it was a legitimate power play setup, that is ok. Not every setup will work out. That is the way the market works. These setups give us a HUGE edge to be successful traders, but no setup is 100% profitable. Do not let those trades get you down. If you followed the rules, then you did everything right.

Do not even think about going live until have had at least 20 days (replay sessions of at least 2-1/2 hours of market time) in a row with no more than one mistake per session. By mistakes I mean entering late or entering early or taking a creative entry that was not a power play. If you can’t do that in replay, you will not be able to do it in a live market, and you will be handing money to the market. When you do finally go live, I suggest limiting the number of trades you take so you are not tempted to trade creatively and are more focused on the real power play setups.

Note: Replay is free, even if you don’t have a live account with Ninja. You can download one day at a time and replay for free. If you are a Nadex trader, there is no replay for Nadex but using the NinjaTrader market replay and chart trader will benefit you by learning the setups and seeing them. When it is time to demo trade in Nadex, you will know you have your setups down.

Other helpful links: Market Replay in NinjaTrader - Practice seeing setups, taking entries, exits and managing trailing stops, the 4 instruction links together here Market Replay - Setup, Download and Replay Instructions How To Get 12 Months Experience In A Few Hours


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#2

Hey lori I have a ton of questions, But I will just ask one, which system should I learn first? SEES? Power plays? OR should I purchase the Master course.

Due to the fact I work 2 jobs, I am looking to do nadex spreads. Any advice is appreciated