7 Components of Profitable Trading Systems | Andrew Falde, SMB Capital

EP 028: How to avoid ‘predicting’, the purpose of options markets & the 7 components of profitable systems w/ Andrew Falde
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* Sitcher: www.stitcher.com/podcast/chat-...

[@overcastfriday81]

@48:50 This is the best advice I've heard in the entire series. If you thought you had a great system, plug it into a spreadsheet with random daily price changes. It's brutal and flushes out pretty much everything you think should work.

[@andrewereynolds1408]

Andrew's psychology is spot on. He explains the root of successful trading. Good interview.

[@TheArkhamRebellion]

One of the clearest and best discussion about trading psychology I've heard. Great guest

[@TC-cv1dg]

The Arkham Rebellion ...sold you did he. Buy his course...roflmao

[@andrewereynolds5840]

Andrew Falde discusses trading strategies with great clarity. His psychological approach is spot on. Great interview Aaron.

[@andrewereynolds1408]

Andrew Falde provides great clarity on how to implement trading strategies. His logic & psychology is spot on. Good job Aaron.

[@Krogzaxants]

This information is amazing! One of the best interviews. Thank you Aaron and Andrew. Learned alot from this interview.

[@2321brendan]

Im listening to this one again. Loving this series .Good Work Aaron. He speaks the truth on the numbers ie trend trading win% etc . From my experience and testing

[@joseluis-tg7vt]

Great interview. Risk management is king. I really liked the 7 steps to cataloging a system. Thanks

[@nsanenaren]

I love how he gives him self many options in his trading strategy. "If" "Then" scenarios, which then offer a whole new trade set up scenarios, if's wonderful to hear. Certainly a valuable insight into the mind of a successful trader!

[@ChatWithTradersPodcast]

+Naren Patel agreed Naren, it's a great way of thinking about trades.

[@momomimi5853]

Excellent interview as usual very informative.

[@LakesideTrades]

Super good video even 4+ years later. Great insights, thanks Andrew and ChatWithTraders!

[@shantosunny13]

Aaron very good interview.... I regularly watch all your videos.... All this experience of all people help in my trading.. I am clear on my system All your interviews helped me to choose a better edge trading system And helped a lot in mental psychology. I to have a confidence that I can make a multifold return... I love this channel

[@journeyofbear6423]

Clear interview. Some psychological reinforcement for things I'm working on.

[@hamisintunzwenimana8083]

Good General 1. Create Systems - Market Sentiment / Plan 2. IF Then Systems / Rule Based

[@nahaktam6515]

Great interview. So glad I found your channel! Thank you 👍🙏

[@vikasarsid1299]

This experience cost a lot, thank you for sharing this experience 🙌

[@Hugo-xj2mj]

Thanks Aaron and Andrew!

[@XpLoeRe]

Hes a genius !!!!! thank you for the GOLD information

[@ChatWithTradersPodcast]

+Roman Sterlin glad you enjoyed the interview Roman.

[@Setobagh365]

Hey Aaron, Big Fan! When he said about specific program to boost to that professional level from an amateur, Could you ask him what kind of course he was referring to be specific?

[@joey86bu1]

Awesome!

[@Fm-ho8kc]

Thank you

[@ArchimedeanEye]

Wow, Andrew is great!

[@momentumstocks3493]

I have never made a prediction in my life....gurus that do make me laugh.

[@rockefeller94]

where can I see the video he talked about and his strategy?

[@ChatWithTradersPodcast]

+Ricardo, you may be able to find a link in the show notes here: chatwithtraders.com/ep-028-andrew-falde/

[@momentumstocks3493]

He is the exception because 99% of people won't spend a dime on education....

[@yasharthnathani]

superb

[@justinallen007]

do you guys have like an app or something that i could listen to this with my phone

[@chaseramos4865]

look on spotify

[@Sketching4Sanity]

Much Love

[@XX-xv6xe]

I learned so much

[@vwazp]

wow, what a great guest.

[@ChatWithTradersPodcast]

+vwazp yeah, Andrew shared some really solid insight.

[@joeola1842]

Hi, is there any Forex trader here?

[@honglee6100]

this guys genius.

[@dieyanmari]

I agree. take some notes on all of the episodes and these stand out for self-reminders.

[@honglee6100]

ive used some of these things to play better poker overall

[@anarsim5926]

Solid talks

[@bestofthebesteverything6415]

thanx aaron but please add transcript to all videos

[@SSEnrich]

I am also able to be right 30-40 % of the trend trades I take. The problem is that they stop around 20 pips and revers. So I am forced to take a small profit. That happens very often. The big winners that give 100 pips are very seldom. Of course I will not give up and I will look into if it will help to tighten the stops. However it does look like it is not possible to succeed no matter what one does. At least not currently.

[@scottydog9997]

Here is a secret, take partial profits as insurance against it coming back to bite you. Just remember even professional traders never get the full move.

[@daylansantiago7841]

This is a little bit late but I hope I can help. Perhaps the issue is the timeframe since those amounts of pips are typically seen in lower ones. I have notices that the lower the time frame the more erratic the market becomes, hence changing trends more often. On the larger scale however, the market isnt affected by so much noise like the lower one do so the trend of them are more stable. So my advice would be to use trend strategies in higher time frames and mean reverting ones in lower time frames. Hope this can help .

[@momentumstocks3493]

run my scans find nothing.....run my scans find nothing....repeat,repeat..repeat...then bam a stock passes everything. Place a buy order When filled place a stop. Trail my stop. IF the stock hits my target price or hits my stop i get out.... 1-2 a week in enough to check on prices. That's it

[@bboyonnon]

Genuine question _ if its profitable and appears to be trending , why not move your stop loss up ? I understand price targets just wondering why , or what's the benefit of exiting a position instead of following it with a SL?

[@Talearchive]

Im guessing his talking about jim cramer lol 17:00

[@ControlTheGuh]

I like the trading options angle, don't like how hard this guy is pushing the cmd courses

[@scottydog9997]

Its a good course, it teaches you how to intraday trade, without being extremely biased. I did it myself, and I have been trading off and on for 5 years prior, trying to algotrade. It gave me an edge by understanding what institutions are truly looking for, and proper market structure.

[@Dubsackjack]

lots of hours on youtube :/

[@ChatWithTradersPodcast]

+Dubsackjack - you can listen to the podcast on iTunes, Soundcloud, Spotify (and others too), if that's more convenient.

[@fullhalfangel]

Watch on 2x speed.

[@VanTlou]

Please interview Todd Brown from tradeempowered.com/, his a system developer, a teacher and a great trader..

[@garytibo]

I did that to...WAY to much bad information on the internet...

[@b.roccatellojames2491]

Quick summary, if you want to be a trader just pay thousands of bucks to SMB capital. For thos e of you who missed it, they are in mid town Manhattam, and they have a proprietary strategy, a propietary risk managemnet and a proprietary technology that, as a retail trader you don't have. So if you are not in mid town Manhattam, talking their proprietary language you don't have any real edge. So you cannot be comparable to a six figure trader trading on a proprietary software in midtown manhattam. So please forget trading, your only playbook for your misarable life will be to clean the streets.... and with some luck it will be the streets in midtown manhattam.

[@scottydog9997]

You don't have to buy their stuff to learn what they do. Their KZbin channel gives almost everything away for free. This is coming from someone who paid for the course, which I still believe what I paid for was fair value.

[@TaejonTycoon]

@@scottydog9997 which course did you pay for? They have quite a few. I was thinking about buying two of them when I get enough money.

[@scottydog9997]

​@@TaejonTycoon If you are going to do any, do the DNA course, which is what I did. This all depends on your skill level, and even after studying their course, you will still have to develop your own style and methodology that suites your psychology. If you want to save money on it, study the crap out of statistics, learn some python / excel to build your own backtesting models (towardsdatascience.com may help), and start a process of journaling what you do. Mike's book's "The Playbook", and "One Good Trade" cover the majority of what is in the course. However it has structured lessons, and videos to help you along. Depends on what you want out of the course. I can give you a list of books that cover the bases to save you $3k if you want. Don't burn through capital if you can avoid it. If you are looking to invest rather than trade, for your long term holds check out whalewisdom.com. For trading, a lot of what is contained in the course is also discussed on chat with traders as well, just take rigorous notes, and you will see a lot of the similarities. Lets be honest here, edges are only found in statistically significant and repeatable risk/reward trades, that can be executed without emotion. If you aren't willing to put in the work/time to study the crap out of the markets with a passion, and find things that work, you wont make it.

[@greenscorpio1967]

the Jack Schwager was dull fell asleep

[@momentumstocks3493]

People need to be more honest with them-selves before even trying trading.. Not everyone can do it. Common sense, emotional intelligence, greed, fear...all play a part. If you are a drug taking criminal that cheats on his wife...i doubt you will make it as a trader...

[@richardgray8680]

The Wolf of Wall Street?

[@trixy8669]

@@richardgray8680 He wasn't a trader.

[@endicotto]

Oh lord. Someone actually listen to all this? I get it about the psychology in the first part. Many have said that. But the rest of it. TURN IT OFF.

[@techninja9]

One of the worst interview , no good knowledge imparted .

[@iansalce9645]

That means you're totally ignorant😆