We have discovered that by working in teams, we can increase our ability to be more disciplined traders. Yes, I did say work. All the successful traders I know are very hard workers. We are not a signal service and you will miss out on the value of joining by blindly following all the opportunities presented. I repeat, we are not a signal service. We share setups, not trades, and a setup only becomes a trade because of your decision to take it.
Working together in teams has great benefits in certain areas, but only if you take the responsibility that working with others require. Helping other traders will benefit you more than you can imagine.
Accountability is the key factor in empowering traders to know they must do the right thing.
Doing the right thing covers every aspect of the trading space, from being honest and thoroughly backtesting your strategy to keeping a detailed and complete journal. Also, reviewing each trade with your teammates to identify problem areas where you can improve.
The most important thing to be successful is trading correctly. Only then can you put the odds in your favor, and let the results you know are possible be realized.
The Cycle of Doom
One of the biggest problems for new traders is they are results orientated. No strategy will give you an equity curve which is straight up. It is impossible to be right all the time, or even 90% for that matter. Reaching an 80% win rate in a month is an incredible feeling, but we can be 50% right and still be very successful.
The vicious cycle most newbies fall into is they learn a strategy, and if it happens to lose a few trades, they give up and move on to the next strategy. Probability works in the long term, not the short term. By strategy jumping, the newbie doesn’t give the strategy results the time necessary to get into the long term, and so the cycle of doom begins. Learn a strategy, begin trading it, make profits, go into drawdown and then give up and search for a new strategy, rinse repeat.
Trading Team Structure
Each team will be focused on trading the same strategy. Within each team you will be working in groups of 3 members. How you run your group is up to your group to decide. How you set up your trading plan is up to you to decide. As you go through the training period you will see different possibilities, but there is a basic structure to ensure you get the most out of it.
The basic structure includes:
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Analyzing different markets to identify opportunities
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Sharing the setup with specific details
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Entering and managing the trade through to completion
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Reviewing the trade and each member’s execution of it
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Group meetings to share your experience and thoughts
Once you feel you understand what Crush Pro Teams are and how they are run, go ahead and mark this lesson complete. Next we will introduce you to each team and the strategy being traded by that team.