The Best Traders Are Solution Oriented

Let’s talk about a mindset shift that I believe could change everything for you.

The people that I see succeed at trading have one thing in common. If they perceive something as a challenge, they constantly try to get better and fix it.

Hate Mondays? Fix It. Make This Trade At 9:30AM

The Big Picture

The best traders are solution-oriented. If a problem comes up, they seek a solution and then work at it until it’s fixed.

The people who fail at trading are different. Inevitably, they play the victim card. It’s non-stop problems. They complain and complain (and all it does is keep them stuck).

So, if you have the same problem creeping up many times, I suggest you journal. I’m a big fan of journaling. Get your journal out and talk with yourself.

Instead of saying “woe is me, the market is against me…”

Consider asking a question:

“How can I fix this?”

Instead of saying “it’s the pumpers, it’s the dumpers, it’s the brokers, it’s the halts…”

Get out your notebook and start looking for solutions.

Because…

There Are No Problems, Just Solutions

I believe there is a 99% chance that for every problem you have ever had in trading, there is a simple solution. Now, a lot of people don’t like to hear this, because it puts the responsibility back on them.

That said, let’s review some of the most common “problems” I hear from students every day.

Perceived Problem

“My broker won’t let me trade those stocks because they’re too volatile.”

Simple Solution

If your broker blocks stocks you want to trade, change brokers.

Perceived Problem

“I’m a bagholder.”

Simple Solution

Never buy a stock unless you know where you’re going to get out. Never trade without a trade plan that includes an entry, a stop loss, and a target.

That last one almost always leads to…

Perceived Problem

“When things are moving fast, it’s hard to come up with a plan.”

Simple Solution

Don’t trade it. If you ever feel like you don’t have enough time, move on to the next.

Let’s unpack that…

I NEVER take a trade without looking at 3 timeframes:

• 2-day, 5-minute candles
• 2-month, 15-minute candles
• 1-year, 1-day candles

Now, some traders use different timeframes. That’s fine, okay? You have to find your solution to that particular dilemma.

The point is…

If you ever feel like you don’t have enough time to establish key levels so you can plan your trade, don’t trade it.

We are in a target-rich environment. So, if you’re feeling FOMO, then you are creating a problem…

Perceived Problem

“I experience fear of missing out because I keep missing the big moves.”

Simple Solution

Fight the FOMO.

I could go on and on with simple solutions to problems.

Here’s a related mindset shift that helps successful traders stay solution-oriented…

Think In Years and Decades

Most trading problems have to do with impatience.

How long do you want to trade? I’ve been trading for 20+ years (and I plan on trading until the day I die). I’m trying to make it to 125.

Now, I might joke about it a lot, but in my mind, I have about 70 years of trading ahead.

If you can think in terms of years and decades, and focus on solutions rather than problems, here’s what happens…

No Single Trade Matters

Is any one trade really that important? With one exception, the only answer is no.

Here’s the exception, in one of my favorite quotes:

“One trade will never make your career, but one trade could be the one that ends it.”

Now, I’ve touched on four of the most common perceived problems traders bring up. There are literally dozens more I’ve heard over the years.

So far, I’ve never come across one without a simple solution.

My Take

In trading, there are no problems…only solutions. I want you to ALWAYS have a solution-based mindset. If you think there isn’t a solution, there is.

My friend, if you’re playing the victim card, if you’re making up excuses for this or that, it’s probably not going to end well.

Watchlist

Last week during the big tech sell-off, one company everyone talked about was CoreWeave (NASDAQ: CRWV). Everyone was worried about its debt.

Now, I’ve been saying it’s a great company. After its Q3 earnings beat, Wall Street is a believer again, too. With that in mind, today’s watch is the Leverage Shares 2X Long CRWV Daily ETF (NASDAQ: CRWG)

We like to call these single-stock ETFs “wallet padders” because they tend to move slowly, but when they hit the Oracle signal, the trade plan is simple.

Yesterday, CRWG hit the signal but didn’t hit the target. If it continues to hold, and CRWV keeps bouncing, look for a continuation play today.

On My Radar

• Much-anticipated Anthropic (NASDAQ: ANT) IPO is set for Nov. 19
• CoreWeave (NASDAQ: CRWV) Q3 earnings curbed recent fears about the company’s debt
• Massive barrier just removed by the SEC unleashed my favorite breakout pattern