In the continuing win-win spirit of educating traders at minimal cost and continuing our support of charities, readers of Chronicles of a Million Dollar Trader can receive $250 off the timeless Jellie Webinar Series, while benefiting needy children via World Vision.

Following up on yesterday’s video, today was a day of preparation on many fronts as – for the first time in this man’s two decade trading journey – I came to grips with the preparation truly required to move from trading’s equivalent of routinely flying airplanes to piloting the space shuttle.

Most of today’s pre-launch training was spent attending an incredibly inspiring men’s event hosted by a group called “Guywire”, which was a timely reinforcing event in terms of reminding ourselves of our true mission and purpose, which is to show and reflect God’s grace and glory … something that I fear had diminished a bit in recent times as I once again become more active in the politically “correct” (or more accurately stated, “incorrect”) world of Twitter and social media.

Without belaboring that point, I’ll say at the time of this writing that I honestly don’t know if I’m supposed to pursue or succeed this endeavor.  This is because it’s become clearer to me every year that God has opened and closed various windows and doors of opportunity based on His design … not mine.

I certainly don’t need the money given my non-market related income, nor do I seek or want any more recognition other than to show what God can do when we simply surrender our will to His.

So why am I pursuing entering trading’s equivalent of the space shuttle launch pad?  Frankly, it’s because I feel that there’s a deeper element of fear that I’ve never been able to fully eradicate from my trading and life, and one that despite painful setbacks and perceived successes on multiple fronts, has held me back from completely surrendering my will, capital, and everything else for which we are all simply temporary stewards.  And it’s time to fully eradicate this fear.

This element of fear became painfully evident to me on Friday morning, when this multi-million dollar trader traded a woefully minuscule 15 contracts on the tight initial balance break, which is one of my top 5 trade setups. And while it had been some time since we had seen such a tight opening range, I chose to play it safe … which in the long run is ironically the more risky choice.

Anyway, here’s my pre-launch checklist as I get ready to close the cockpit door and begin the launch sequence.

- Acknowledge where this endeavor stands in life’s priority, which is far behind God, family, and pay-the-bills income. (For non-book readers or newer blog readers, please remember that I trade to grow assets and NOT to put food on the table.)
- Engage simplest dashboard scenario; DOM, 2 chart timeframes, F6.
- Initial sequences will reflect an extreme Sniper mode with a target of 1-2 high-probability points. We’ll build on that after lift-off.
- Trade extremely infrequently and only when able, passing on most opportunities to ensure the recognition of higher-priority non-market commitments and the strongest level of focus and execution when able.
- Don’t rush or force things … if the first trade is an hour or day from now given circumstances, so be it.
- Stay on high alert level at all times.
- Maximize focus by eliminating all involvement in intraday social media, all social drinking, and sex during the work week.
- Tithe 10% … no exceptions.
- Remember that just as dark and light can’t co-exist, neither can fear and love. For fear will always be defeated by love.
- Love everyone and everything and let go all grudges and judges.
- And yes, once and for all, forgive Jon Corzine.

So there it is as I see the shuttle door closing.

I guess the outcome is no longer in my hands.

In fact, it never was.

Fire up the engines.

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270 ES contracts.  $28.4 million of value.  I invite you to join me on my journey as I push myself to new limits.

I could and may fail (1).

But I have to try.

This weekend will be about getting in shape … physically, mentally, and spiritually. For opportunity will only favor the prepared.

Another journey. Another unknown destination. Am I too old at 54?

We’re about to find out.

(1) Failure is not an option.

Categories : The Weekend Trader
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This weekend’s edition follows up on recent discussions on Twitter, including a discussion on MATD, why I’m tweeting (hint: personal journaling!), and acknowledging our weaknesses.

Key Thursday & Friday tweets are also shown below.

Have a peaceful and fun-filled weekend.

Categories : The Weekend Trader
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In today’s video, I follow up on Friday’s trade sequence tweets with emphasis on KISS and developing an “acquired instinct” (using our NFL quarterback’s example from the beta Jellie team!) to maximize trading success.

I also continue to discuss my thoughts on maximizing the use and context of social media, including a stellar post today by Peter Reznicek of Shadow Trader style describing how he traded the exact same sequence. Maybe we can get him on a Trading After Dark episode!

Key Friday tweets and a chart reference are also listed below.

Categories : The Weekend Trader
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Today’s video reminds us of the need to manage our finite amount of human capital (as much or more so than our trading capital!), as well as the need to optimize our trading results and how social media and our ego can help or detract from this effort.

Enjoy and have a restful weekend.

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Feb
22

My Favorite Trading (& Life) Motivational Tunes

By Don Miller · Comments Comments Off

We all have our favorite motivational tunes … here are my three favorites that help get the life and trading juices flowing at this end, with their corresponding videos.

I could – and have – watched these hundreds of times.

You Haven’t Seen the Last of Me – Cher
When the market humbles you and you need that encouragement to take the next step.  One of my favs as I re-enter the blogging & Twitter “spheres” with energy. Cher also reminds us we can get better with age!

The Glorious Unfolding – Steven Curtis Chapman
When you need to look to the unseen future … in your trade sequence, trading career, or life … with obvious larger overtones.

100 Years – Five For Fighting
My daily theme played every morning during the 2008-09 $1.6 million run.

Categories : Motivational
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Today’s video discusses why today’s market action was different and highly predictable, as well as my current Twitter objective and mission.

Key Friday tweets are also posted below.

Have a great weekend!

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Feb
16

Update: Twitter #JellieTrades Tagging

By Don Miller · Comments Comments Off

After thinking over this weekend’s video and our experiment to begin tagging Jellie-related trading tweets with #jellietrades, I thought it would be helpful to frame the effort a bit by laying out some groundwork.

So here are my thoughts as we head into the week.

Tagging Objectives

1. To supplement other reputable planning services or tweets – which primarily focus on planning at the beginning or end of the U.S. session – with evolving observations before they occur or as they begin to evolve.

2. To provide an outlet to strengthen trader awareness of the need to plan, anticipate, and effectively execute high probability opportunities.

3. To enhance a virtual trading community where past Jellie participants (who may have participated live or via the continuously-available webinars) can leverage off each other and take advantage of the mastermind principle, and where non-Jellie traders can observe and learn. Iron sharpens iron.

Tagging Benefits

1. It’s Free. Yes, you often get what you pay for, yet by using some of the auto-streaming and filtering techniques available on platforms such as TweetDeck, you can create an effective virtual trading team by including or excluding specific individuals.

2. No chat room infrastructure required. Frankly, chat rooms in my view are to trading what DOS is to the PC … old school.

3. Avoids the “U.S. day session only” trader trap by allowing for 24 x 7 participation and observation. As many know, most of the cleanest trade set-ups and triggers now occur well outside of U.S. regular session hours.

4. Provides a sense of camaraderie in what can be a very lonely business for those trading alone.

5. Increase trader confidence when you see other similar-minded traders seeing what you see.

6. Help you get into the flow of the market if you’ve stepped away for a brief or extended time.

Tagging Guidelines

1. Posts should be limited to derivatives of the S&P 500, including ES futures and the Exchange Traded Funds such as SPY, SSO, and SPXU.

2. Posts should be primarily related to narrating to the anticipation of Jellie market patterns, technical observations, time of day, or trading set-ups.  Note the bold use of “anticipation”. Acceptable comments could include: “3rd push on ES approaching”, “2095 was 3rd push on ES”, “watch for possible break from low 5 min ADX”, “looking for MATD 1st support 2088″, “Watching for F6 turn”, or posts with similar content or intent. Using our age-old hockey analogy, the idea is to provide a heads-up as to where the puck is going to be, versus where it is or has been.

3. Posting of trade entries, exits, and/or targets are completely optional and up to trader discretion.  If you do post entries, please don’t post any exits unless you’ve previously narrated to the setup.

4. To minimize unnecessary noise, please don’t repost the same observation if someone else has already posted the same observation.

5. Please don’t post any fictional and/or after the fact genius posts, and feel free to filter out those who do.

6. Use Jellie acronyms and shorthand whenever possible.

7. If posting or following tagged items in any way decreases trader focus, productivity, or profitability, stop doing it.  Case in point, if you have to choose between focusing and effectively managing a sequence vs. telling the world about it … duhhhh!

OK, so those are some initial thoughts. Clearly, we’re also looking to a bit of an honor system to self monitor and adjust should this evolve into more than just a crazy initial experiment.  I’m keenly aware of the benefits, challenges, and pitfalls associated with any group trading dynamic in what is largely an individual sport, and – in this case – an open platform with the full spectrum of professional and not-so-much traders, so we’ll see where this lands based on your feedback.

It’s also probably a good time to remind ourselves of the risks associated with investing or trading, keeping in mind this effort is strictly social networking and not a service offered by me or my education business.

As to my own posting activity, please keep in mind I have multiple business efforts and time commitments over the course of the week, and those businesses – including my trading – come first as should be the case for all. As such, I may post and/or tag frequently or infrequently based on market conditions and other obligations.

Lastly, as with anything we’ve done over the past 15+ years, this is about traders helping other traders. If it works and helps, great.  If not, no biggie and we move on.

Feel free to send any comments, suggestions, or feedback to me at don@donmillereducation.com, and have a great week.

Categories : #JellieTrades
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