The deck is stacked!

I have heard dozens of traders lament that the market is fixed.

They believe the deck is stacked against them.

I have a very different view of the market.

I believe the market is designed to pay you money.

I agree the market is fixed – that the deck is stacked.

It is stacked in your favor if you do three things:

  • You consistently execute setups that have an edge;
  • You cut their losses when you are wrong; and
  • You exploit your gains when you are being rewarded.

If you start with an edge in your setups and you cut your losses and let your profits run, then the following is true:

  • The market is designed to pay you money;
  • A good trade works immediately and profoundly; and
  • Any trade that does not work immediately and profoundly is suspect.

When a trade immediately takes off in the trader’s direction, surprisingly, most traders cannot get out of it fast enough.

They cannot believe their good fortune.

You should view this favorable explosion as the norm and let the market go in your direction until the market either stalls or retraces by a preset amount.

If the market is designed to pay you money, then each trade has the potential to be a home run.

Of course, we know that most trades do not immediately explode in your direction.

When faced with a trade that does not move or, worse, drifts against the trader, most traders make excuses for the trade and think of reasons to hold onto it hoping it is still going to work.

You should do just the opposite.

A trade that does not go in your direction should be given the minimum amount of room to work and, if it does not, it should be exited.

After all, each trade is just a small probability.

It is important to keep in mind that when you are in a trade that is not working, you are not able to see the next trade which has a better chance to reward you.

In conclusion, the deck can be stacked in your favor if you just understand that:

  • The market is designed to pay you money;
  • A good trade works immediately and profoundly; and
  • Any trade that does not work immediately and profoundly is suspect.

Wishing you success in your trading,

Copyright © 2009-2011 by Jeff Quinto
all rights reserved
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About the author

Jeff Quinto has been called "America's Preeminent Futures Trading Mentor". Jeff is a 40-year veteran futures trader, former CME member and a world-class trading coach. He has coached hundreds of futures traders, including traders from Hong Kong, France, China, England, Australia, the US and Canada.

Jeff strongly believes that professional traders are world-class competitors, comparable to professional golfers, top tennis players, and Olympic athletes. None of these competitors could have achieved their top-ranked status without first having a world-class coach.

Jeff is that world-class coach for futures traders.

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A word about risk
Trading futures contracts may not be suitable for all investors. You may lose a substantial amount of money in a very short period of time. The amount you may lose is potentially unlimited and can exceed the amount you originally deposit with your broker. This is because trading is highly leveraged, with a relatively small amount of money used to establish a position in assets having a much greater value. If you are uncomfortable with this level of risk, you should not trade these contracts.
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