Lecture Notes: Trading and Mentorship

Introduction to the Session

• The session is a live stream and mentorship.
• Initial technical difficulties with OBS streaming service.
• Focus on mentoring children, particularly son Caleb, to not rely on traditional employment.

Teaching Philosophy and Methodology

• Importance of hard work and not relying on parental financial support.
• Teaching method differs slightly for children, focusing on sincerity and genuine care.
• Intention to teach students mindset and processes for trading.
• Warning against solely relying on others for learning trading.

Trading Mindset

• Importance of having a clear reason for being involved in trading.
• Acknowledgment of the risky and unpredictable nature of markets.
• Emphasis on responsibility and self-reliance in trading decisions.

Trading Preparation

• Set up to watch market from 8:00 to 10:00 AM, especially around high-impact news.
• Importance of preparation before trading, including mental readiness.

Market Dynamics

• Focus on understanding how markets behave and move.
• Strategy to trade based on certain predictable patterns.
• Use of NASDAQ as a primary focus, with occasional reference to Forex.

Trading Strategies and Concepts

• Introduce the concept of smooth areas in price action as targets.
• Explanation of relative equal highs/lows as key points for potential market moves.
• Use of various analytic tools like fair value gaps and order blocks.

Risk Management

• Stress on trading with micro-contracts initially to mitigate risk.
• Discussion on avoiding over-leveraging; caution against gambling mentality.

Market Interpretation and Analysis

• Analysis of market data in real-time.
• Recording and analyzing how long price moves take and what they feel like.
• Importance of studying price action to build a framework for trading.

Psychological Aspects of Trading

• Dealing with emotions like anxiety and excitement during trading.
• Preparation for adverse trading conditions and unexpected market moves.

Conclusion and Next Steps

• Encouragement to journal and document trades for future learning.
• Closing remarks on the importance of time and practice in developing trading skills.
• Invitation to participate in the next session for more technical insights.