About TraderHank

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January 22nd, 2016

I had a great year of learning options strategies with Marc Nicholas of the Day Trading Zones, as well as learning how to read my charts correctly.  One would think that after 8 years of trading you would finally have it down to a science but that is not the case with trading.  7 years ago, I met a Trader on the golf course and I asked him who taught him to trade, he said he was self taught and then I asked, how long did it take him to become consistently profitable, he said 10 years.  Wow, I thought, but I can tell you, if you are on this journey, 10 years is about right.  You have to keep yourself from blowing up your accounts so you can stay in this game.  This year I'm going to continue to focus on my options strategies with a heavy focus on the SPY.  I've also decided to start trading the emini ES futures intraday when price sets up.  My focus on just the ES has made me a better chart reader and now I feel I know where the puck is going at all times.  Always remember what the great one said (Wayne Gretzky) about what made him great was that he never skated to where the puck was, he skated to where the puck was going.

Gretsky
Gretsky

        

06-01-2015

      Hard to believe that we are almost half way through 2015 as I set here in Las Vegas as the heat has finally came hitting 104 degrees yesterday.  Actually it has been the nicest spring since my move from LA over 4 years ago.  Anyway, I've learned a lot over the 4 years since I've left, some good things and some bad, but most of the bad leads to good, if you know what I mean.  I've found a love for options trading, something that I had no idea would become one of my most important trading vehicles.  I've learned so much so fast, it blows my mind away, and the best part is that my options trading has been profitable from the start, unlike my day trading Equities and even Forex took awhile to become profitable.  So presently I'm still trading equities during the day, in and out by the end of the day.  I'm swing trading Forex, looking for an entry starting Sunday evening and looking to get out before Friday @ 3pm EST.  Last but not least, I'm trading options, looking to put two trades on per week, a weekly spread and a monthly spread.  

      My greatest achievement over the last year and half has been to do monthly presentations at our Las Vegas Day Traders Meetup group.  I share everything that I've learned over the last 8 years of trading and have become a much better trader as a result.  Go to meetup.com to find your local group and start to attend, share and make some great trading buddies.

      I've also started to do some coaching on the side to help fellow traders that need a little something extra.  If you are a struggling trader and would like some coaching via email, I'd be glad to help you, just send me an email using the contact form on this site.  No charge for now, but soon I'll be charging monthly in the future once I cannot handle all the pupils, so please use me while I'm free.

     Last thing, I've spent thousands on education, prop firms etc.  I've been around the block from having spent time with VCM, Team Trading, Oliver Velez, and most recent IFT or Ifundtraders.com.  None of which I could recommend nor endorse (just google these names and you will know why, stay away!) if you are looking for trader education, stick to the list on my blog role where you will find people that really care about traders, not just their pocket books.  If you need additional recommendations for education please contact me.  If you are brand new, I'd start with Tom Willard's Youtube channel.  Tom gives you an excellent course on Technical Analysis for free that would cost you several thousands of dollars anywhere else, and the best part is that Tom is a Pristine Trained Trader.  

PS

     I'll continue to share my trades on this site as well as share any new developments or ah ha moments.  Please contact me if you feel that I should cover a special topic and if you are ever in the Las Vegas area, make sure you join me at one of our monthly meetups which are on the first Wednesday of the month.  You can find the link to our group under the Blogroll area on this site.  Lastly, I wish you all good trading!

      

10-19-2013

Pivot High is all about Day Trading equities using the Pristine Method with a little salt & pepper added.  All of my equity trades are "day" trades and I'll be out of the trade before the end of the trading day on Wall Street.  As we move into 2014 I'll be placing a few swing trades that I'll post here as well.  I'm already posting a few of my Forex trades which are a type of swing trade that I use a completely different method of trading Vs Pristine which is due to my timezone more than anything else.  Recently, I've been waking @ 3 am PST to trade the Forex market this week using the Pristine Method and I'll be posting the results on these trades in the future for as long as I can stay awake, lol.

My private thoughts will be shared in my Diary category.  These will be my insights on new discoveries.  I'll also recap many of my own aha moments using the Pristine method and how they keep my trading in the right direction.  I really don't care about news, I read pure price action and most recently I have removed all the moving averages from my equity charts, what an eye opener!        

TraderHank
TraderHank

My story 07-06-2010

     Since 1993 I've been looking for another way to stimulate my mortgage business.  Once a 30 year loan is made to a customer, he/she really does not need you again for 30 years.  You do your best to get referrals, etc, write newsletters, send out promotional items, etc.  In the end, there is only so much you can do while you wonder where your next loan deal is going to come from.  By 2007 most of my bankers that I originated loans for began going out of business.  This is when I begin to think I was attempting to save a dying business.  It does not matter how great a marketer is as Dan Kennedy would say, if your business is selling the last buggy wip you're done!  In April 2008 after flying all over the country looking for something, a new business, a new opportunity, etc. I came home empty handed.  My wife and I spent several thousands of dollars in master mind groups, internet businesses, a laundromat, more Real Estate by mistake, etc. suddenly to realize that we still had not found what we were looking for in a business.  Working 15-20 hours in a day is no way to conduct yourself, nor is it a way to have a long life.  With all the taxes required to operate a small business, I found it impossible to be profitable running my Laundromat.  Finally, we decided to sell everything as fast as we could, the economy was starting to crumble and I knew if things got worse, we would be in for some tough times.

      God answered my prays in April of 2008 when I met a former mortgage broker who had quit the business several years earlier and became a day trader.  I had no interest in his trading until he said "I go flat daily".  I did not know what this ment, he explained that at the end of the day, he sold off all of his stocks and went back to cash at the end of each day, no holding overnight.  This was like someone hitting me in the side of the head with a brick.  You see, I've always held any stocks over time, never did I sell them right away, nor did I ever learn when to sell.  Well, I bought him lunch, asked a lot of questions, and he pointed me in the right direction.  He sent me to trading school at Pristine, TPM I in August of 2008 and since my wife and I have fell in love with this new opportunity.  Three years of study, night and day, weekends, holidays, etc. we have truly paid the price and at last we are profitable.
     
      Why trading you may ask?  Well, now we have no employees, no workmans comp, no licenses to be had, no continuing education, no retail space needed, no customers needed, no inventory, no health department, no board of equlization, no State Tax,  and best of all, I work in my underwear every day off my kitchen table. All you need is a computer with an internet connection, a small amount of capital and you're in business!  It does not matter how bad the economy gets, a good trader will make money every day.  Can anyone do this?  No, not everyone, it's the same reasons that some will never graduate from college, it takes hard work, study, and most of all patience.  If you have all of these attrabutes, than yes, you can do it too!
      
       My nightmare is almost over for me and my wife, we have stopped the money bleeding from our wallets, we have divested ourselves from all our other businesses, we have wiped the slate clean.  No more working hard, but smart!  I give God all the glory...

9 Responses to About TraderHank

  1. jally says:

    Thanks Trader Hank! I was really uplifted after reading your story. I have also taken Pristine and doing the method, but, I still did not become consistent. What patterns do you primarily find are successful to trade? How is your management? and how long did it take for you to find your niche and be profitable?

    Waiting to hear from you!

    Jally

    • TraderHank says:

      Good questions Jally, I trade very similar to Paul Lange, lead moderator of the PMTR, I look for gap plays at the open during gap season, if no tradeable gaps are found, I’ll look for a momentum plays very similar to my 9:45 wide range bar plays but on the 5 minute chart. Then, I move on to looking for my 9:45 am plays that I’ll focus on for late morning or early afternoon entries, so my daily list consist of daily setups from the daily charts, gapping stocks, 5 minute momentum plays (LOOKING FOR WIDE RANGE BARS) and my 9:45 am wide range bar plays. All examples will be found on this web site under categories. Lately, I’ve been using daily trader pivot lines for longer targets as well as prior pivot highs or lows from the 60 minute and daily charts. As far as finding a niche and becoming profitable, it took me 5 years, no joke, 5 years of study, my a-ha moment is when I started to take my plays with 1 lot, for most this will be 100 shares. I place my stop and my take profit areas and wait to confirm that my stock is trending in the correct direction before going to a full share size. I’ve found that most traders will become impatient doing this and add way to soon before confirming the uptrend/downtrend. By doing this exercise you will begin to perfect reading of price action, now most will ignore what I just said, I did the same thing, I was told to do this over 3 years ago but never realized the significance of doing this exercise. It will only take about 1 week of entering your plays with just 1 lot before you will see the benefits in your trading. Start doing small lots now, and ask me more after a few weeks of doing this, I’m sure you will have many more questions as you will become profitable using the Pristine Method…

      • jally says:

        Thanks so much for your input! You’ve touched a point that is my main issue. Thanks for the heads up, I will definitely try it and keep you posted. Also, how do you scan for your wide range bars in the morning? Do you have a special scan for that? Which platform do you use?

        Thanks!

      • Zeek says:

        Hi i love your site. You mentioned “gap season” would you be referring to earnings season or when would you say its “gap season?” Also where could i learn more about the “5 min, 9:45 momo plays?”

  2. kc says:

    u lucky u got some training after greg and oliver split up

  3. Eric says:

    Great story. In a similar situation. Live out here in LA. Just filed chapter 7 in our business of 7 years. Been trading for a year and a half with little success. I decided to not trade with money until I sort out finances. However I trade every morning until 8:30-9 to get my screen time in. I already have the dedication and fortitude to keep pressing forward, but it is great to read such an encouraging turnaround. Thanks for sharing everything, God Bless

    • TraderHank says:

      Thanks for the comment Eric, I wish you well on your Journey! With all of the good simulators out there, there should be no reason for you not to succeed in this business…

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