August 23 - August 27
TradeSpace, PR - A World of its Own
My first week working with the Sang Lucci team at TradeSpace in Puerto Rico has been nothing short of extraordinary; to 99.9% of Americans, a place like TradeSpace is merely a fantasy. As an amateur trader, at best, I’ve been flooded with emotions from extreme optimism to relentless frustration. It is hard to put to words the inspiration that comes from being surrounded by experienced and successful traders in real life, as opposed to being a chatroom.
The Trading the Post community and folks walking around TradeSpace carry a common desire to provide help when asked. Not only will people answer a question, they’ll go out of their way to provide clarity and foster dialogue. As an inquisitive individual, I’ve found myself caught in hour-long conversations with others trying to understand their perspective on trading.
Whether it’s because I’m such a novice or overly curious, TradeSpace and the Trading the Post room provide the ultimate outlet for those, like me, seeking to learn from others in their trading journey.
Working for the Trading the Post team, in particular, has been a steep hill to climb. Having taken the Sang Lucci Master Course in 2020, I had a strong foundation of skills to use coming in. However, the TTP members/educators are on a different level. These traders have an incredible ability to monitor countless stocks, chat in the room, and recall others’ positions.
Throughout my life I’ve always found situations where I am confused and frustrated to be the places where I become addicted to learning. Coming into TradeSpace on the weekend to rewatch TTP content and speak with others has sparked a lot of memories from studying in the library during college.
For me, there is always a phase in the learning curve where I am frustrated and feel my work is not making progress, but I am confident that the resources I have been given and the individuals I am surrounded with I’ll make progress.
Lastly, there is a common trait among all of the traders I’ve spoken with in TradeSpace: resiliency. In one way or another every trader has said, “just stick with it and eventually it will come,” which only drives me more to continue learning and placing trades to use as experience.
The Sang Lucci Company - From the Army
Although working virtually is something totally new to me, Nico (@Nico), Norse (@Norse), and Matt(@Matt_Money) have been incredibly receptive, reliable co-workers to provide support.
Coming from one of the largest organizations in the world, the Army, I was brought up on the phrase “if you show up at the right time, in the right place, with the right uniform the rest will work itself out.” Applying that mentality to a small, dynamic team has forced me to take a different view on completing work, understanding expectations from others, and how to be most effective in the role that I have.
Additionally, the Sang Lucci team took the time to develop a communication course/protocol, called TightOps, to create a common expectation for all employees to understand how communication and coordination should work with others. To most this training would be boring and pointless, but I cannot stress how impactful it can be to an organization that has a common understanding of communication.
When an organization takes the time to establish clear tasks on a transparent platform, with the ability to provide feedback, the progress of work is limitless.
Joe’s Trading - Week 1 Report
- P/L for the week: - $322.37
- Number of Trades: 41
Showing up at TradeSpace I was trigger happy with placing Trades, to say the least.
Over the last couple days I’ve described myself as a sports commentator: I can speak the language of traders and comprehend what they’re doing, but when you put me in the QB position I’m at the level of an eighth grader.
I’ve been shooting from the hip on placing trades from the conversations in the TTP chat, people around me, and quick ideas I’ve had.
As I’ve relentlessly binged TTP content and continued to think about the mistakes I’ve made, I have developed a new appreciation for more rigid entry/exit criteria, strategies I need to follow, and a closer watchlist to better understand.
This upcoming week I will place ¼ the number of trades I made last week and be much more strict in analyzing moving averages, levels of support and resistance, VWAPS, and overall sentiment at those levels.
I am to the point of creating a list of considerations by my computer to look at before entering a trade and questioning each before I execute.
I did have a lightbulb moment when I was rewatching one of Ronchero’s videos this weekend. A student asked, “how does he watch his P/L in his Iron Condor positions as they’re developing.” Ronchero replied, “I can’t be concerned about that, I’m watching the price levels to make sure my thesis still holds before I worry about that.”
That statement was so brief yet so profound for me.