The following is a short interview with longtime member danielsan who has been with Trading the Post for nearly two years(see more on our results page). In the room, danielsan is trading a handful of names with laser focus (TSLA, AFRM, to name a few). He is an example of a trader who has found their lane and continuously adds to their skillset.
Q: Do you want to give us a little bit of your background and trading style, and how that developed up until now?
Sure, I was in the corporate world working for a salary, 401K, and benefits, then got into the Real Estate game but wanted more freedom. I didn't know anything about stocks, 401K, IRA, much less trading. Seriously, my best friend modified my 401K so I could make money, and then after a few months, I checked out how it was doing, and it was up for the first time. It was magic to me, and I wanted to learn how to trade. Bitcoin was my first ever trade in some individual stock/crypto idea back in 2016-2017. I like to trade fast and slow as far as my trading style goes.
Q: Can you comment on the influence and impact of Ronchero / TTP and what skill/mindset the room helped you develop?
I want to hit the nail on the head here because the impact of Ronchero and the TTP has been "gold" for lack of a better term, and what I mean by this is for me, in my trading, is that I had to come to terms with myself, really had to adjust my mind. One example I will give you is at some point, Ronchero said,
"There are only a few that get to hold the coveted trophy of being a winner in trading. Will you be one of them?"
That really got me, and I made up my mind to be on the side of winning. I had to make that choice purposefully. There are countless times Ronchero will say what he says, and I find myself taking it in, making tweaks, improving my trading. TTP promotes winning setups and a winning mindset that, in turn, has helped me develop as a trader. I certainly don't need or want idle chatter about the "why," don't know, don't care... I want the "what are you going to do about the move and when are you going to do it." Another thing is the room's stability, which comes from Ronchero day in and day out. He's consistent. This is what traders do; they go to work and trade. Ronchero is there every step of the way in the chat.
Q: In the room, you usually mention a small basket of names with a lot of focus (TSLA, AFRM, AAPL). How did those names become your primary trading names? What advantages do you see in trading a small number of names?
It's a priority for me to find a good fit in life and trading. TSLA offers faster moves with lots of range, AAPL offers slower moves with a smaller range, and AFRM can provide a little bit of fast and slow with a great range. I like the way they move, but let me be clear: there's a time and place to trade them and to not trade them. For me, the advantage of focusing on a few stocks, that have a range in different timeframes (less than 15 minutes, an hour, an overnight hold and/or swing,) offers opportunity. By being patient with the stocks in hand, I'm able to have my set up come about more frequently. Something to note is that I miss a lot of moves on other tickers on some high-range days, and I'm okay with that. I don't mind waiting for my darlings of tickers to present themselves in total weakness or greatness to open up a trade.
Q: You use the SL services and indicators in conjunction very well (Flow, Sentiment, and Tape). Were there any pivots or turning points when the combination of these tools clicked for you? How did you develop your current setup?
Thank you, I appreciate that. It was pretty gradual in terms of change using the tools. A lot of data comes in and I had to choose what is serving my trading. All of the services in SL are telling a story, but the next level for me was when I was able to put them all together to paint the story. With the data like the Squeeze-O-Meter, Wiseguy Alerts (option flow), and some other sentiment indicators provided, I'm able to formulate a thesis behind a trade. I'm not trying to evaluate each sweep of all these names. We have WSJ to do that... When essential items are aligned or not aligned, the trade can work out well in either direction. I had to think for myself how to use it, but the SL team provided all the necessary guidance.
Q: In our Off-Topic channel, you frequently reference books you’ve read on trading and psychology. What’s one recommended read you have and why?
So that is a tough one to answer because I read a lot. Each book offers different points of view for different minds, so I'll go with what I'm currently reading (again), which is Jack Schwagger's "The New Market Wizards." In particular, Part 7 / Psychology of Trading and Part 8/ Putting it all Together are really great chapters of the book and go a bit deeper into some great methods of thought, along with some intriguing examples of mindset. I get to read these interviews with some of the greatest traders of all time and get a glimpse of their thought process. I get to surround myself with greatness, and I want to be the sum of that, be it via a book or chatroom.
Q: Can you comment on the influence and impact of Lucci and the broader Sang Lucci Master Course?
Sure thing. Having come across Sang Lucci and the Master Course, I was able to get a glimpse of what's on the other side of these charts, Level 2, Time / Sales, and what this-or-that could signify in terms of direction. For me, it was like entering Grad School, where I was able to tap into traders that were next level(s), that have been in this game for decades, have worked in prop firms, mentored by players in Wall Street that know what they are teaching and trading. So that in itself was pretty influential for me so long as I had the mentality to trust the process of learning and evolving along the course.