Main Idea Thread - The NEW R.I.C.H. Trader (formerly R.I.C.H. Crypto)

a bit of a far fetched idea

  • akashic records recovery of lost bitcoin wallets via seed phrase from dreams
  • design smart contracts for successful algorothmic crypto trading

Another lesson from seduction subs :

Keep trading playful, see it as a game.

Have fun while trading, being light hearted.

Always better for success :wink: Especially when you want to be in the flow!

Same with seduction!

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Something correlated to seeing trading as a bigger business, instead of seeing it as a ‘one-man business.’ I don’t know exactly how to put this, but something that helps the user see trading as a business, a living organism, and not just as a reflection of themselves.

In the sense of being able to plan future growth and follow short-, medium-, and long-term strategies. Something that helps them find and faithfully follow a growth strategy without constantly putting themselves and their own feelings into the equation.

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Well, when I’m trading, a lot of focus is required. In that process, it’s likely that some noise or distractions from the mind itself will trigger thoughts and take you away from the moment of trading, so that’s already a significant mental drain, until the focus returns, you start again, and this loop can become something that paralyzes us.

Focus, total attention to the here and now, mental energy and constant flow when we are trading.

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I can double down on this, in the past month I was so biased and not clear headed mentally that I missed some good trades.

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Alright, I’ve been thinking a bit and I just thought of something. I was thinking about subs results, and why my trading performance dropped after few good months.

And seeing @SaintSovereign’understanding of the customer maybe you can shed light on this, or have a better understanding than me on this.

There is some kind of “winner effect” in trading where when you win, it gives you the confidence to take risk, keep trading and apply your strategy.

It have to be balanced with good risk management and be careful not to fall into greed, as in deviating from our strategy or taking massive risk.

But there is also the opposite effect where when you start to lose, confidence drop, doubt gets into your mind and you fall into a rut.

It would be nice to keep a bullet proof winning mindset in trading as drawdown will happen, but we need to be able to bounce back quickly from those to get back in a winning mindset.

Winners keeps winning and loser keeps losing.

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How long until release? I’ve got some ideas that I’m starting to sketch out but might need a week or so until I feel like they’re able to expressed.

If I do a rough sketch:
There are only 3 things you need. Knowing when to buy (enter, go long), knowing when to sell (exit, go short), and knowing when to hold (waiting).

If we look at the Market Wizards 99% of them do this one thing
RISK MANAGEMENT

Everything else is about following their chosen system and tricks/tips to do that. - (finding a system and edge is good, should be included)
Qullamaggie knowingly overtrades because it scratches his itch.
Some guys do meditations to have patience for when the market makes its move
A lot of them aim to know when they are in flow - or when the markets are making a move. Stockbee also talks about this. He looked at the market whole 2024. When his trading setups started working in July he put on 200%+ of his portfolio. By august he was down to 20% exposure again. (knowing when to hit the trigger).

Soros taught Druckenmiller to bet big when he’s certain. (they wanted 15b exposure during the Pound event, Stan only got halfway there).

When reading about all of them though; They failed.
Qullamaggie went from 5k to 100m within 12years. He blew up 3 times.

Most of the advice I’ve found is on what not to do. Buffett’s rules:
Rule #1 Don’t lose money.
Rule #2 Never forget Rule 1.

(of course Buffett lost money multiple times, and one of his worse investment was Berkshire Hathaway itself).

If we’re going by the big abstractions:
“Knowing what matters”

There’s also this aspect of having fun. It’s not just deep focus or deliberate practice. It’s about deliberate playing “What if I turn the chart upside down and trade” - What if I enter here and here and not where everyone expects etc. - Just to get the cognitive machine running.

Qulla collected thousands of chart images, Stockbee wrote in the market in his market monitor daily in excel. Just to get a daily touch of the market. To start feeling the market.

Risk management isn’t just a good thing; It’s Biology. It’s survival. If you lose, you die.

Journalling as a way of tracking the patterns underneath that impacts your trading (moods, behaviors etc).

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Van Tharp said before that the most important thing is to turn your trading philosophy into an executable system and leave emotion out of it.

Whatever that is called, sign me up.

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You’ve still got time, no worries there.

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Noooo :sob: I wanted to try this out so soon!

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I don’t think this will be out for a while. I saw Saint asking for a trading simulated platform suggestion.

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Oh well :frowning:

No choice but to let them do the testing then.

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Yeah, we’ve got scripting being tested now. But, I can’t ask any testers to use their real accounts unless we can first establish a baseline, even though it’s “play money.” But, it may not be as far off as you may believe.

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:heart_eyes:

Please excuse my insistance, since I started trading three years ago I’ve wanted a sub for that hahaha, I’m very eager for this one!

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I would like to be a tester how does one apply for it?

(Do I need to slide you some cash?)

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I thought about that, how can you bribe a guy who creates ways for you to make money… it’s ridiculous you ethical beings you!

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I want to come back on C&C vs Rich Trader,

Now I see the importance of fundamental in even short term trading. So it should be included in rich trader. Both Rich Trader and C&C should rely on fundamental, but I see more rich trader analysing the fundamental to then use technical analysis to enter then market compared to C&C who will determine X market will gain a lot of value.

Exemple of analysis from Rich Trader : Japan’s economy is going strong, they are waiting for a new PM’s nomination and we are not sure yet where their economy is going, let’s not form a bias, but let’s follow the news. Oh, this PM is elected and they are pro inflationniste, probably that the yen will lose value and it will be reflected when trading, how do I enter the market now.

C&C analysis : People in the west seem to have less kids, it seems like they replace their kids by having more pets and caring more for them, I should invest in pet care, service and products!

@SaintSovereign Analysis made by C&C is more related to big trend in the world, looking how the world move and investing according to this (flow of money, investment), while rich trader is more of a fundamental analysis of the momentum of an instrument over the course of the day, week, month, etc.

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Just aiming to summarize the basics that I already assume will be included

  • Resources, Mentors etc
  • Learning
  • Pattern recognition - Most likely chart analysis.
  • Discernment of information flow (words vs actions and the results of those actions/words) - aspects from ETWP but focused on opportunities in financial markets - what matters and what doesn’t
  • Psychology / Detachment - Being able to bet bigger, pyramiding. Not taking profits too early etc.
  • Manifestation
  • Risk/Reward / Asymmetric bets
  • Discipline
  • Finding entries and exits

Stuff that I want and specifically want to highlight as useful to R:Trader

  • Risk management
  • Recognizing strengths/weaknesses in your own psychology - and utilizing that knowledge to find instruments and trading styles that are appropriate for yourself.
  • Situational Awareness - Understanding the context and environments for why certain setups/styles are working, and when they might stop working. Keeping up to date on the environment and seeing when there are turning points.
  • Probability thinking - It’s not about what happens. It’s whether it is likely to happen or not, and what the gains are. “Will this go up” vs “Is this a good R/R?”
  • Accepting uncertainty - as a follow-up to probability thinking
  • Pain Tolerance. - You’re exposing yourself to emotional pain and stress. Needs to get accustomed and remain stable during volatile times.
  • Resilience/Anti-fragility - This is somewhat similar to above, and what I mentioned how trading is in the end biological - survival is what matters. Anti-fragility is what can allow one to come back up if blowing out.
  • Action-taking - When you recognize a setup, it’s time to execute. And you might need to execute multiple times. Paul Tudor Jones was in news articles for calling the exact bottom on 1987 crash, what they don’t mention is how he had entered 4 times, at a loss and this last time was the last and profitable. This will depend on each traders style, but often letting winners run and cutting losses quickly is ideal.
  • Data analysis - not just the standard analysis, but analysing your own trade performance, trade database etc.
  • Compartmentalization - If I have a shitty trading day, I don’t want that to impact my family/friends. Likewise, it should not impact my following trading day - or ideally a bad trade should not impact the next trade.
  • I don’t know how to express this in words but “Personality integration” - Actually identifying and becoming A “Successful Trader” (should link well with the Raikov talk above)

Some problems that traders stumble upon

  • Scaling up - They reach success at lower levels but fail to adapt their style or come up with new styles that can handle more money.
  • Cognitive Flexibility - Accepting that the market is right and you’re wrong (when that is the case)
  • Boredom - Overtrading, jumping from style to style, setup to setup.

I believe that covers most of what I had in mind with some rough sketches, will edit in anything after this if it comes to mind,

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@SaintSovereign if there is still a need to test eventual versions of Rich Trader, I’m down for it.

I’m not the most self aware, but I’m on charts every day.

Also I use more of a swing trading style so, I’m not in and out every day of the market.

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I’m new here but I’m not new to trading. I’m currently running Dragon Reborn and Genesis Mogul but have only finished one loop.

To have a very successful, yet generic Trader sub there are a few things that a person needs to possess in their core before they are a successful and profitable trader.

I would love to see a multistage set like EOG, but specifically for trading in general.

  1. Being able to see the markets with a calm mind so you can see what the charts or financial statements are subtly hinting at you, NOT telling you. There is a big difference.

  2. Detaching from outcome. Make your trade and then release it to do whatever it’s going to do. Your decision is already made, the outcome is out of your hands.

  3. Having grounded confidence in your trading abilities and having confidence in your trades.

  4. Being brutally honest with yourself on what you are lacking as a trader and then finding ways to learn how to overcome what is lacking and to implement the corrections consistently.

  5. Having a calm and classic Stoic core (The GLM sub comes to mind)

  6. Having patience like a mature cat. Wait until the prey (in this case the trade) comes to you. Not firing off a bunch of orders that should never have been placed in the first place.

  7. Having a balanced life and healthy eating habits. (Look at how many large and unfit traders there are)

  8. Being able to let the trading day go when the day is finished.

  9. Resilience

  10. Having a good solid form of relaxing and resting (meditation, etc. The Dragon Reborn sub comes to mind)

I’m really looking forward to this one and hope it comes out in 2026.

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