0:02 this is the only way that you're not
0:03 just going to get funded but actually be
0:06 able to keep your account scale it and
0:08 just frankly be able to trade
0:10 consistently long term hi I'm Matt Don
0:12 leevy and I am the founder of photon
0:14 trading and we have now helped countless
0:17 Traders do exactly that by helping them
0:18 not just acquire funding but actually
0:20 scale their accounts long term by
0:23 implementing this exact week I'm about
0:25 to show you so you want to get funded or
0:27 you know at least become consistently
0:28 profitable right but when you get to the
0:30 end of the month what you you see is you
0:32 know you look back and your strategy
0:33 probably performed quite well but your
0:35 results are down here and until you
0:36 close that Gap you're never really going
0:38 to find consistency or actually get
0:40 anywhere with your trading so how do we
0:41 do that well that's exactly what I'm
0:43 going to show you here today and don't
0:44 worry I'm not going to you just give you
0:46 some mindset hack and just tell you you
0:48 just got to be more patient bro you just
0:49 got to be more disciplined because look
0:51 whilst that's true I'm going to give you
0:52 something practical that you can
0:54 Implement today make the exact change to
0:56 strategy and actually start minimizing
0:58 that Gap long term and start making
1:00 gains so
1:02 back when I continuously had that
1:04 performance discrepancy in my trading
1:05 it's because I was either losing Larry
1:07 or hind at Harry I was always both
1:08 basically in my trading because when
1:10 you're losing Larry it's when you're
1:11 thinking oh you know should I buy or
1:13 should I sell or when you're in a trade
1:14 should I hold on to the trade what
1:16 should I do should I get out and so
1:18 afterwards once price actions played out
1:19 right that you're then hindsight Harry
1:21 you're think I knew I should have bought
1:22 there it was just obvious of course I
1:24 should have showed there or of course I
1:25 should have held the trade like why did
1:28 I get out right and just always look in
1:30 hindsight right hindsight vision is 2020
1:32 as they say and you're just constantly
1:33 oscillating between being in
1:35 decisiveness right having that in
1:36 decisiveness before you enter a trade
1:38 and then swinging up the other way and
1:39 having regret when you're looking back
1:41 in hindsight but we don't want to be
1:42 doing that right we don't want to be
1:44 constantly fluctuating between those two
1:46 poles like a pendulum we want to be bang
1:48 at the top we want to be centered and we
1:51 want to have clear objectivity okay we
1:52 want to get rid of swaying between those
1:54 two emotions in decisiveness and regret
1:56 because down there is where the masses
1:58 are right that's where the losing 90% of
2:00 Traders are but the Masters would are
2:02 they doing where's the top winning 10%
2:05 well they are extremely objective do you
2:06 think when you are consistently
2:08 profitable you're having all of these NS
2:10 and doubts before you enter a trade or
2:11 you know always constantly having regret
2:13 and hindsight after trade no you always
2:15 know that you made the right decision
2:17 because you followed what you need to do
2:18 right you have that objective Clarity so
2:19 how do we get there because you don't
2:21 want to be a hindsight Trader for the
2:23 rest of your life thinking just next
2:24 week I'll get it next week I'll do it
2:26 next month next I'm being there right
2:27 don't keep spinning your wheels you just
2:28 you're never going to get there
2:30 otherwise right so
2:32 if you want unwavering certainty when
2:35 you approach the markets every day well
2:37 by unwavering certainty I do not mean
2:38 that you're going to certainly win every
2:39 trade I just mean that you have
2:41 unwavering certainty that you made the
2:43 right decision right how do you get that
2:45 how can you be 100% certain that you're
2:47 making the correct decision ahead of
2:49 time right none of this hindsight stuff
2:50 well there are two types of trading
2:52 strategies and the first is the
2:54 discretionary system so obviously from
2:55 the moment of looking at a chart
2:57 starting analysis all the way through to
2:59 actually executing and making those
3:01 Trading know management decisions
3:02 there's a lot of decisions you have to
3:04 make in between right but if you're very
3:05 discretionary there's going to be a lot
3:06 of question marks there where you kind
3:07 of know what you're doing you sort of
3:08 have this style you do a little bit of
3:09 here and there but like sometimes you do
3:10 it that way sometimes you use that time
3:12 frame sometimes you use this EMA
3:14 sometimes you use that type of zone
3:16 right it's too discretionary and the
3:18 more discretion you have the higher the
3:19 chance you have of making those
3:20 emotional Stakes because there's a lot
3:23 of room for self-doubt and hesitation to
3:26 creep in okay when you have that so if
3:28 you can replace as many of those steps
3:29 with objective criteria what do you
3:31 think is going to happen as that
3:33 discretion comes down your chances of
3:34 making those emotional mistakes are
3:37 going to drastically reduce so that's
3:38 why we have the second type of trading
3:41 strategy which is a mechanical strategy
3:43 okay and it's literally as simple as if
3:45 this happens you do this and if that
3:47 happens you do that right there's no if
3:48 buts and Mayes you just follow it
3:51 literally like a flow diagram um almost
3:53 the point where you could code it into a
3:55 computer to do it right so you either do
3:57 it or you don't do it the system tells
3:59 you what to do not your own gut instinct
4:01 because if you think about the market as
4:03 a game like Pac-Man hopefully some of
4:06 you guys know that but yeah essentially
4:07 markets are the ultimate freedom of
4:09 expression right you can do whatever you
4:10 want you can buy you can sell you can
4:12 trade any asset class you can risk this
4:14 much you can risk that much um you know
4:15 you could use any strategy you want
4:17 right you get the idea it's it's
4:19 completely down to you and to get from A
4:21 to B you could go a million different
4:22 ways right there's a million different
4:24 ways to make a million dollars in the
4:26 market but what we want to do is we want
4:28 to have very very clear strategies where
4:29 instead of being able to go way whatever
4:31 you want and change it up every single
4:33 time instead you just take the exact
4:35 same path and you can only take that
4:36 path and if you get halfway down the
4:38 path and the next step isn't there well
4:40 then you stop you cannot proceed because
4:42 that is not part of your strategy okay
4:44 because if you compare two Traders one
4:46 who has that clearcut know with buts or
4:47 maybe strategy mechanical strategy
4:50 versus someone who's quite discretionary
4:51 right they've got a bit of a style you
4:53 know they sort of trade this way they
4:54 sort of use that pattern or whatever but
4:56 there's a lot of room for like you know
4:58 adjusting in there and making different
5:00 decisions when
5:02 inevitably those Traders eventually take
5:04 some losses okay in this instance for
5:06 losses how do they know if those losses
5:09 are a part of their probability model or
5:10 are they bad trades that simply could
5:12 have been avoided right well how do you
5:14 know that well as Traders we know that
5:16 we are dealing with something called
5:17 random distribution okay it's just a
5:19 fancy word for essentially saying we
5:21 don't know the order and the sequence in
5:23 which our wins and losses are going to
5:25 occur right quick example is if you had
5:28 a 60% win rate a lot of people kind of
5:29 think oh yeah I'll probably have about
5:30 six wins and I probably have about four
5:32 losses right and that would be easy to
5:33 deal with if they happen in that order
5:35 but it's markets individual trades are
5:37 random and unfortunately sometimes you
5:39 have two or three losses in a row then
5:41 one loss then one win and that constant
5:44 unpredictability is what twists so many
5:47 people's minds but as we know over a
5:49 large number a large number of Trades
5:51 your Edge should come through to your
5:53 expected value now one little mindset
5:55 thing I will talk about and I said I
5:57 wouldn't at the start is consistently
6:00 profitable Traders have two layers of
6:02 beliefs that contradict each other but
6:03 you need to have them both and that is
6:05 on the micro level right so looking at
6:08 an individual trade completely uncertain
6:10 completely unpredictability predictable
6:11 you have no idea if it's going to be a
6:12 winning or losing trade right because of
6:15 random distribution but on the macro
6:17 level right there is actually a relative
6:20 certainty and predictability over that
6:21 large series of Trades okay and
6:23 profitable Traders can hold on to both
6:25 of those conflicting beliefs that it's
6:27 random in the short term but essentially
6:29 predictable and somewhat consistent in
6:31 the long term okay and that's why you do
6:33 not need to know what's going to happen
6:35 next to be consistently profitable okay
6:36 happy day is fine so that means I take a
6:37 loss it's okay
6:40 but if you have that discretionary style
6:42 and you take four losses again how do
6:44 you know oh yeah that is part of my Edge
6:45 it's just the cost of doing business
6:47 it's fine I keep executing or if you're
6:48 like well actually it wasn't really a
6:49 trade I should have taken I'm going to
6:50 you know that's when the doubt
6:52 hesitation comes in and then you're not
6:54 so sure okay so you need to eliminate
6:56 the variable that is you and the only
6:58 way to do that is to be able to have
6:59 those exact decisions that you can look
7:01 back and manage did you do everything
7:03 did you tickle every box in your plan
7:06 and did you do it the right way okay
7:07 quickly to put some numbers on it you
7:08 got those two Traders mechanical and
7:10 discretionary both take those four
7:13 losses quick maths both down minus 4%
7:14 right I don't know what I was doing
7:17 there but yeah down 4% so mechanical guy
7:18 he doesn't worry right because he looks
7:20 back knows that he made all the right
7:22 decisions doesn't have that fear and
7:24 hesitation so what does he do he just
7:26 executes because it's the right thing he
7:27 knows he made the right decisions he's
7:28 consistently profitable and he can make
7:30 consistent actions but but the
7:31 discretionary person they're doubting
7:32 they're hesitating they're sweating they
7:33 don't know if they made the right
7:34 decision so they hesitate out of fear
7:36 they don't want to take a fifth loss
7:38 they don't take the trade and what they
7:39 see they see their strategy should have
7:40 played out they should have been in it
7:41 so they go okay they get a little bit of
7:43 confidence they take their next trade
7:45 and now they get a plus 2% trade but
7:46 when you get to the end of that sequence
7:48 where it's a week or a month or whatever
7:49 just by missing that one trade right the
7:51 mechanical person's on plus three the
7:53 discretionary person is on minus two and
7:55 it's that difference that makes all the
7:58 difference because over the long run the
7:59 mechanical person is going to keep
8:00 consistently executing and getting
8:02 consistent results and the person that
8:03 has that hesitation only takes one bit
8:05 of hesitation to just keep you in that
8:07 cycle and make you doing the break even
8:09 dance okay because hesitation kills
8:12 Traders now no one likes losing trades
8:14 but imagine a world in which you did
8:17 enjoy your losses well how can it happen
8:19 well when you realize that you've made
8:20 the right decision and you understand
8:22 random distribution then you know that
8:24 every time you take a loss it's just one
8:27 step closer to your next profitable run
8:30 of trades right it's as simple as that
8:32 but before I had that mechanical
8:35 framework behind me right for years what
8:37 would happen is I would take a loss then
8:38 I would kind of doubt and hesitate I
8:39 would find every excuse Under the Sun to
8:40 realize that it probably wasn't a trade
8:42 I should have taken so then when you
8:44 doubt and hesitate and you're fearful
8:45 you skip the next trade and then you
8:47 obviously it always ends up being the
8:49 winning trade that you skip right so
8:50 then naturally you get fomo you Revenge
8:51 trade you rush into a trade that you
8:53 shouldn't have taken you take another
8:54 loss and then you're just stuck in that
8:56 Loop spinning your wheels and people do
8:58 this for years and some Unfortunately
8:59 they never break out of it and and they
9:02 just give up which is a shame because
9:04 you can change this Implement a chical
9:06 framework because if you don't have that
9:08 proven defined Edge that's the root
9:09 cause of nearly all of your problems
9:11 probably if you're watching this now
9:13 what do I mean by a proven defined Edge
9:16 well would you play poker if you
9:18 couldn't see your cards would you put
9:19 all those chips in and bet your own
9:21 money your hard own money if you had no
9:23 idea what your hand was well Traders are
9:25 betting on hands when they don't even
9:26 know what cards they're holding right
9:28 you're literally taking trades and
9:30 setups we have no idea what your Edge is
9:32 what are the numbers behind your trades
9:33 what is your strike rate what's your
9:35 expected you know profit expectancy you
9:37 have no idea so of course if you don't
9:38 know what you're going to be betting on
9:39 your emotions are going to be through
9:40 the roof and you're going to be so
9:42 inconsistent with your decision- making
9:44 so discretionary training is so tough in
9:46 your psychology like when you're doing
9:47 this at scale and you're trying to trade
9:49 big money do you really want to be
9:51 betting when you have you don't know
9:52 your proven defined Edge right it's very
9:55 easy to second guess those decisions and
9:56 then it's extremely hard to go and
9:58 accurately back test and Jour strategy
10:00 because it's too l
10:00 right you can cheat yourself in your
10:02 backst you can say could I would have
10:03 taken that or no I wouldn't have taken
10:05 that but then subconsciously you know
10:06 deep down that then when you go to live
10:08 market you don't really have the faith
10:10 in what you're doing because you don't
10:13 have the data behind it that you trust
10:15 okay now the part of success to trading
10:18 is simple it's not easy but it is simple
10:20 and what that requires is you get that
10:21 mechanical strategy you have a
10:22 mechanical framework that you can
10:25 repeatedly and consistently execute
10:26 because when you have that and you have
10:27 those things that you can then go and
10:30 proove your edge with hardcore data
10:32 because you will actually trust it
10:33 because you know that they are trades
10:35 that you will have definitely taken and
10:36 not kind of loose ones that you can kid
10:38 yourself that you wouldn't and when you
10:40 have that data that you trust that is
10:42 when you have that bulletproof mindset
10:43 okay we don't have to do all this
10:45 esoteric crazy mindset stuff you just
10:47 need data that you trust behind it will
10:50 make a Monumental difference to your
10:51 psychology and your confidence when
10:53 you're trading and when you have that
10:54 confidence what are you going to have
10:56 you're going to have consistent actions
10:57 and when you have consistent actions
10:59 that eventually leads to consistent
11:01 results results in the market you now
11:02 finally have cracked the code because
11:03 now you have something that you can
11:06 sustain right you can do this at scale
11:08 you can do this with big Capital because
11:09 of that work that you've done before
11:12 right because it makes logical sense and
11:15 then rocket emoji right off to the moon
11:18 and all that fun Jazz now in all
11:20 seriousness if you were given a million
11:22 dollars account today right and it was
11:23 the only money you're ever going to be
11:25 given this is your one chance are you
11:28 truly ready to trade it what I mean by
11:30 that is would you confidently risk 1% on
11:32 that account okay so would you risk 10
11:34 grand right now on the next trade with
11:35 your current strategy with your current
11:36 understanding with your current levels of
11:37 of
11:39 confidence probably a lot of you
11:42 wouldn't right and the hard C reality is
11:44 is you will never be able to scale and I
11:46 mean big numbers if you really want to
11:47 do this as a career you've got to be
11:49 thinking big okay and You' got to try
11:51 and imagine trading those numbers are
11:53 you going to be able to do that with
11:54 extreme confidence and Clarity that's
11:56 required to be able to execute at that
11:58 level right with that pressure even just
11:59 going for your funing challenges or
12:01 whatever it is and you've got family
12:02 friends down your back whatever just
12:04 wherever that pressure is coming from
12:06 even now before you're at that stage
12:07 right you need that Clarity and your
12:09 proven Edge okay because we want to go
12:10 from having that discretionary loose
12:12 style to having as mechanical as a
12:14 framework as we can have to stop swaying
12:15 between you know that indecisiveness and
12:17 regret hesitating before a trade and
12:19 regretting after and fomo getting that
12:21 death soup where we can be centered and
12:22 we're objective and we know exactly what
12:23 we need to do every single time
12:26 regardless of the outcome okay we have
12:28 that path we're not kind of just making
12:29 it up a little bit as we go along each
12:31 day sometimes doing this sometimes doing
12:32 that no we do the same thing every
12:34 single time and that's how you break out
12:36 of that break even dance or even worse
12:38 losing and we get that all nice
12:40 compounding curve that we are all
12:42 chasing okay now all trading strategies
12:44 fit somewhere along the scale where you
12:45 have completely discretionary all the
12:47 through to 100% mechanical where you can
12:50 literally code it okay now I personally
12:52 believe that the sweet spot if you are a
12:56 manual human Trader is around 70 to 90%
12:57 mechanical okay I believe that having
12:58 that little bit of room for discretion
13:00 actually gives us a bit of an edge over
13:02 algorithms right having our human
13:04 intuition when you're experienced and
13:06 when you've earned the right to do so
13:07 can actually help you just to know
13:09 sometimes when to kind of stay out or to
13:10 put your foot on the gas right and get a
13:11 little bit more aggressive and that
13:13 comes with time so I believe having a
13:15 little bit of room in there is actually
13:17 a good thing so look if you want
13:19 consistent results you just got to be
13:21 consistent in what you control can
13:22 control right I don't think probably
13:24 you're watching this any of us are right
13:26 yet at the biggest size to be able to
13:27 influence the market and move the market
13:29 that would be nice one day that would be
13:31 the goal but right now we can't do that
13:33 so we just have to be consistent in what
13:35 we can control which is our execution
13:37 our decisions and all that stuff right
13:39 so we just need to be a slave to our
13:40 strategy if our system tells us what to
13:42 do we do it okay so you don't need to
13:44 try and predict the markets and know
13:45 exactly what's going to happen next
13:47 which so many people try to do you just
13:50 need to try to be in the market every
13:52 time a high probability trade set up by
13:55 your plan is provided it you execute you
13:58 make the right decision you move on okay
13:59 so the golden question
14:01 how can you make your strategy
14:03 mechanical well I'm going to show you
14:04 exactly how to do that and I'm going to
14:07 show you my exact mechanical plan in the
14:09 next video here and show you actually
14:11 how to break through into consistency so
