Transcription
The seven-step daily routine for high-performance traders is about developing daily routines and processes, building your headspace, your belief system, your mindset, and your daily habits to bulletproof yourself to master the markets. It's a free audio program, free download. The links are in the description box below. Let's get started.
Good day traders. Stacy Burke from Stacy Burke Trading. Welcome to the new month of July. New month, new timing cycle. All markets only do three things. They continue to do the same three things every single day. Hunting, repeating, money-making setups. Crystallize the simple process of marking off the first trading day in a new month. And why is that? Because all markets only do three things. And when markets break out, that breakout will either succeed or fail. If they don't break out, then therefore, by definition, they are in a trading range. We talk about the simple process, keeping things very simple, hunting the same repeating money-making setups.
Now, where some traders struggle is that they're actually going there trying to read the price action candlesticks. And I keep saying to traders, keep it simple. The candlesticks are the illusion. What setup are you hunting? Now, new month, new timing cycle. We use daily charts. I use daily charts because I'm looking for opportunities from the daily time frame to identify the templates, the money-making templates, not to try and trade the market. A simple thing to understand about the monthly cycle. We talk about this in all the higher time frame videos, nothing needs to be redone. Go back through your charts and build your muscle memory. A month will open. It will make a high and a low and a close and it may be a down-closing month. It will make an open. It may go lower and it may trade higher, pull back and close into the end of the month bar chart. Or it may open, trade up and down, and close right near where it opened. Those are the basically the three monthly charts right there. Three monthly bar charts.
But the purpose of marking off these first candles in the first new month, new timing cycle, there's an institutional mandate. Forget about price action. Forget about everything else. What setup are you hunting? I'm looking for one of two setups. It's that simple. I'm not trying to read price action or figure out where one market might go. I'm just looking for either the dump, coil, and pump template, which will come in different variations. Now, I'm looking for the New York session setup. If traders get this setup in Asia, they get it in Asia. It doesn't matter what instrument you're trading. Does it set up into your timing window? I'm not reading price action. I'm not tape reading. I'm looking for markets that are either pumping, coiling, and dumping or dumping, coiling, and pumping. And I'll keep repeating it. The instrument is irrelevant. All markets only do three things.
Creating a state of mind unaffected by the market's behavior means hunting the same simple repeating money-making setups. There's no need for science projects or complicating things or making things up. All markets only do three things and I'm only looking for one of two setups. So, I'm not worried about what a market might do. I don't try to predict. I don't even care. I'm just looking for that setup. And when a new month starts, we can mark off the first trading day in the new month because when a market breaks out, we can form a thesis. Do we get one of those templates setting up into our timing window? Simple process, very simple, repeatable, and scalable in size when those opportunities present. If there's major red news, we wait until after the news, but the thesis is still in place. If the train has already left the station when I get to my timing window, is there any low-hanging fruit left on the tree? Simple process. I'm not trying to read the markets. I'm looking for either dump, coil, and pump or pump, coil, and dump. That's it. The same things will keep happening again and again and again. And why is that? Because that's what markets do. They have to move. Arbitrage, accumulation, distribution, liquidation, hedging, whatever you want to call it, they will move every single week. Global commerce, all of these things will continue to happen. So, I'm only looking for these templates. If I don't see those templates setting up into my timing window, I don't try to read price action or tape read or sit at the screen catching moves all day. The same setups show up every single week over and over and over again. Nothing changes. Nothing changes. It's the same things over and over and over again. The only variable is the trader going there trying to read the tape or catch the high or catch the low. The same things keep happening because that's what markets do. And once that penny drops, you realize how all the other things out there are smoke and mirrors. The trader is the only variable.
Are there any daily signals? Are we inside? So sometimes traders will trade an instrument because of its volatility. That's a trader's own discretion. Hence the term discretionary trading. Does it present into your timing window? If there's no daily signal or a market does not have a setup, I don't try to read the price action. Daily signals, signals on the day. Is it a dump, coil and pump or a pump, coil and dump template? Everything else is the trader. The trader will either look for trades, tape read, get into early, chase something, overlever on a market with no edge or little edge, randomly be trading all day long. And I repeat, sit on your hands and wait, hunt the setups. Nothing changes. They all only do three things. The instrument is irrelevant. The same process applies. Marking off the first trading day in the new month, hunting signals, putting those instruments on your watch list. It doesn't matter when it occurs, but we have a monthly cycle, but we will still have daily signals. Traders that are diligent will put those instruments on their watch list.
Now, I had to clarify something for a trader yesterday. The daily signals are the same. It's whether or not the setup presents into your session. It's not I'm picking a signal for my session. All daily signals are the same. Then does it set up into your session? Whether it's Asia, London, or New York, daily signals, signals on the day, timings, levels, behavior of price. And for traders from the master class and the gold apex extraction, you will recognize the dummy-proof model. Dummy-proof. Why? Because all time frames are driving this move. Simple. If I don't get one of these templates, I'm not trying to read candles. Reading candles, tape reading, price action. No. What setup are you hunting? Does it set up into your timing window? What was the daily signal? Were there any signals on the day? Timings, levels, behavior of price, behavior of the trader.
So, as we start our new month, I'll encourage traders to go back through as many instruments as possible. Build your muscle memory. It's not about guessing. It's not about tape reading. It's not about mastering the algorithm. What setup are you hunting? What money-making setup are you hunting? And then managing your behavior in between so that you're not randomly looking for trades and reading the tape. What is the edge? Where's the money-making edge that you are hunting? If you can't define that or even draw a picture of it, what is it that you're doing when you go to the screen? What time will your setup present? My friend Steven doesn't trade until after 10:00 a.m. If he doesn't get his setup, he doesn't try to read the tape. He's looking for one of two setups. And when I say the phrase to traders, once you see it, if indeed you do see it, you can't unsee it. You realize how all the other information out there almost becomes comical. And then you'll realize how there's so much gibberish and garbage out there.
Institutions work from levels. Price levels. There's prices on every single chart. Institutions do not tape read. They don't make up fancy terms for all kinds of foolish things. They build liquidity. Their algorithms build liquidity. High-frequency trading market makers. Tier one, tier two institutions. Everything on the inside is the fairy tale, make-believe, the smoke and mirrors, gibberish, hogwash. It's fake. Timings, levels, behavior of price. What setup are you hunting? Hogwash is not a setup. Stay out of the inside. Timings, levels, behavior of price. Setup. Yes or no. Train your eyes to move horizontally at the levels. Do not get distracted by the hogwash inside. It's all just liquidity. Timings, levels, behavior of price. What time is it? What level am I at? How is price behaving? Do I have one of those two setups? Don't kid yourself. You're either buying low in a market that you think is about to go higher or you're selling in a market that you think is about to go lower. That is it. That is all that there is. Buying low or selling high. It's that simple. I'm not trying to catch the high or catch the low in any market. I'm looking for markets to offer me one of those two templates. And if a market's trading inside, I don't care how much volatility it has. That's not my setup. I need markets to break out. That's what offers a daily range opportunity. Daily time frame signals for level-to-level opportunities.
So, in closing, go back through your charts. New month, new timing cycle. The same things will keep happening because all markets have to move and they all only do three things. If you're chasing all kinds of fairy tales, remember this phrase, the only variable is the trader. Hunt the setup. Sit on your hands in between. Be patient and understand and learn how to scale them up in size. Trade with size, not frequency. Quality, not quantity. Money-making trading setups. Rinse and repeat. Start the new month off strong, traders, discipline, confidence, and a winning mindset. As my friend Steven says and Joe Willink say, discipline equals freedom. Keep it simple, repeatable, and scalable. The only variable is the trader. Brand new month, new timing cycle. Keep everything simple. Have a great day and may the markets go with you.