Ninja Talks EP 13: Monk Mode
A Bambi's biggest trading obstacle in 2023 will be over trading in a bear market, especially the crypto kiddies looking for their next pump.
This is why you have to restrain from whoring yourself out to the market in the hopes of making a quick buck.
We call this, monk mode.
Not the whoring, the opposite.
Monk mode is abstinence from indulgence and has been the theme of a couple of our past episodes - and for good reason, it's what 99% of tiktok traders these days suffer from, so as a public servant and your local connoisseur of fine trade ideas I give you the following guidance.
Create a fatal funnel of filtration.
Filter trades through a strict process.
Example;
Potential
Potential high quality
Triggered high quality
Triggered+ confirmation on lower timeframe high quality
You can use tradingviews watchlists and flag function to get the job down easy.
This process will ensure you (1) Take only A+ setups (2) Remove all unnecessary trade setups (3) Maintain a higher win rate (4) Improve confidence and reduce anxiety and most importantly (5) Eradicate over trading.
Does this make sense what I'm saying?
Tldr version;
Create a very strict filtration system to ensure you don't chase weak trades and only profit from A+ setups.
Hope this helps.
Follow me here and on Twitter for more.
See you in the next episode Ninjas!
Nick
This is why you have to restrain from whoring yourself out to the market in the hopes of making a quick buck.
We call this, monk mode.
Not the whoring, the opposite.
Monk mode is abstinence from indulgence and has been the theme of a couple of our past episodes - and for good reason, it's what 99% of tiktok traders these days suffer from, so as a public servant and your local connoisseur of fine trade ideas I give you the following guidance.
Create a fatal funnel of filtration.
Filter trades through a strict process.
Example;
Potential
Potential high quality
Triggered high quality
Triggered+ confirmation on lower timeframe high quality
You can use tradingviews watchlists and flag function to get the job down easy.
This process will ensure you (1) Take only A+ setups (2) Remove all unnecessary trade setups (3) Maintain a higher win rate (4) Improve confidence and reduce anxiety and most importantly (5) Eradicate over trading.
Does this make sense what I'm saying?
Tldr version;
Create a very strict filtration system to ensure you don't chase weak trades and only profit from A+ setups.
Hope this helps.
Follow me here and on Twitter for more.
See you in the next episode Ninjas!
Nick
Disclaimer
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