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.

The Continuing Trader – Closing a Chapter

By Don Miller · Comments Comments Off

Please note if the video below starts in the middle, restart it to the beginning. Thanks.

Tonight’s post closes the current chapter in this trader’s public life, while putting the last decade of sims, diaries, books, posts, videos, and tweets in perspective.

It also marks a personal revision to my Chronicles & Twitter Avatar as shown on the right, to one that emphasizes reflection more than success … which may be very ironic since I don’t expect to tweet much in the future. As I’ve said in the past, I’ve always struggled a bit with the initial cover, although success, celebration, and positive emotion is and should indeed be part of the business.

I’ve learned over the last 55 years never to say never, so let’s just call it closing a chapter.

In the meantime, a reminder that there is a wealth of educational information contained on this site which can be accessed via the top menu or other page links, including the initial diary (be sure to check the key post index in the lower left margin!), some of my favorite postsformal trader educational tools, six episodes of the Trading After Dark series, and more.

As for me, I intend to continue to hone my trading and life skills as long as God gives me breath, as well as continue to grow and evolve much like the jellyfish we all strive to become.

May God bless all of you in your pursuits, and may we all strive to love, uplift, and inspire.

Until we meet again.

Don Miller
Twitter @millerdon

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As we approach the end of the summer trading season, today’s returning 26 minute video covers a lot of ground including optimizing personal momentum, balancing life and trading priorities, current market rhythms, U.S. RTH (Regular Trading Hours) vs. ETH (Extended Trading Hours) opportunity, social media, trading distractions, personal lessons from 20 years of trading, and more.

And here’s the John Wooden link referenced in the video.

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The Weekend Trader – Stop Being Timid!

By Don Miller · Comments Comments Off

Today’s video discusses the excitement, passion, and assertiveness required to successfully compete in one of the most challenging businesses around.

We also continue the discussion of the overstatement of probability and statistics.

Love, uplift, and inspire … and stop being timid!

Have a great weekend!

And yes, that’s my 174 pound body (high school weight!) at the end.

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While we could do hundreds of analogies relating trading to boxing, I’ll let this simple quote from Muhammad Ali do this weekend’s speaking.

“Impossible is just a big word thrown around by small men who find it easier to live in the world they’ve been given than to explore the power they have to change it. Impossible is not a fact. It’s an opinion. Impossible is not a declaration. It’s a dare. Impossible is potential. Impossible is temporary. Impossible is nothing.”

So true.

Love, uplift, and inspire.

Have a great trading week!

Categories : The Weekend Trader
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This week’s edition focuses on the incredible danger related to the over-complexity of this business and almost comical aspect of many aspects of this business which generate a great deal of discussion, yet often do a tremendous disservice to the true business of trading.

Focus on the traffic light, have your foot ready for the accelerator and brake, and execute.

THAT my friends is trading.

Everything else is noise.

P.S. I know I started off by saying I’d keep this brief … yet felt the full 20 minutes was important.

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Jellie Team Member Top 10 Light Bulbs

By Don Miller · Comments Comments Off

As the 2016 Jellie Tank winds down today, I awoke to this note from one of our players summarizing his Top 10 Light Bulb moments, which he’s graciously allowed me to share in the hope it may help others:

Hi Don,

I wanted to thank you a million. This experience has really opened my eyes and it was a priceless experience. There are many light bulb moments that will completely change the way I trade and I know it will put my results and performance on fast forward, saving me years of frustration.

Here are my top 10 light bulbs. These will always be close by my trading desk.

1. Always think about the other trader. Recognize what every player at the table has to do.

2. Average up. If you average down and don’t average up you will always have your greatest size on losers and smallest size on winners (This happens to me).

3. Create outliers. Never cap any time period p/l because doing so will mean you will never have an outlier.

4. Have confidence and be confident in your own work. Be like Steph Curry. Push it and push it hard and press it when hot. “Find your grip and rip it!”

5. Focus on execution. Stalk trades most of the time and maximize execution. If scalping, realize the baloney vs. the filet and that you only have so much mental capacity (this does happen to me where bigger ideas were missed trading smaller ideas)

6. All bets should not be equally weighted. If everything is equally weighted it gives equal importance to scalps and PJOs. If your account size doesn’t permit varying size based on opportunity, stick to only PJOs.

7. Always be ready for your next shot. If you were playing basketball you wouldn’t just walk off the court after taking your first shot. (This will be a big thing for me as I sometimes get distracted and think the next trade is far away)

8. Buying on the bid and selling on the ask means you are always going against the immediate market action. You want to be the aggressor.

9. KISS. If there is a problem, it is not the indicator, it is you.

10. Always be thinking, where does the market have to go to tell me I am wrong. Stop should be based on this and I should be out as soon as the premise changes. I can always get right back in (see #7 – always be ready for your next shot). (This will be huge for me as there are times where I lose focus, get sloppy and what should be small loses turn into big losses).

Thank you, thank you, thank you.


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The Weekend Trader – The 24 Hour Store

By Don Miller · Comments Comments Off

Today’s video discusses the need to always make oneself available to opportunity no matter when it may occur.

Also, a heartfelt warm welcome to incoming Jellie Trading Team #13.

Have a peaceful weekend.

Love, uplift, and inspire.

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Today’s video sheds some fervent light on tapping into our true potential.

We are ALL diamonds currently undergoing polishing.

Have a great trading week!!

P.S. One footnote is that the 5pm ET timeframe I reference near the beginning reflects the closing of the RTH futures market. The traditional RTH equity close is typically 4pm ET.

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