20 - Day Trade Challenge Rules

1. Questions

If you have a question post it in the Facebook group. If you have a question more than likely others will as well. I monitor this group all day and will answer them very quickly.

Or you can email me at TraderJanie@quantitrader.com

2. Meditate

Ya, ya I know this is not something I like to do either but since I’m the kind of data driven person I am, I can’t ignore the benefits of it anymore.

... Its only 5 minutes a day.

I’m going to make this very simple though.

Each night BEFORE you log on to the Signals, you are required to sit in a quiet place for 5 minutes.

  • Set a timer for 5 minutes – we all have timers on our phones
  • Sit upright but comfortable
  • Feet on the floor
  • Hands on your lap
  • Take 5 very slow and deliberate breaths
  • Close your eyes
  • Try to empty your mind. This is very hard to do so do not chastise yourself for not being able to
  • Once thoughts come sauntering in just recognize you have them and let them go
  • There is nothing you need to do or can do for the next 5 minutes
  • You are putting your brain into a place it needs to go to change it.

3. Enter your trades

Enter your trades according to the very simple Signals Page Rules.

4. Accountability Spreadsheet

This is where you will JOURNAL - EVERYTHING!

After entering your trades for the next day, fill in your Accountability Spreadsheet according to these rules

When you exit a trade you must not focus on $'s made or $'s lost. A successful trade is one you complete according to the rules, not one that loses money or makes money. 

You must never research a stock. We hold trades for 2-3 days, nothing in a company's fundamentals will make a hill of beans to your trade. I know there will be a lot of push back on this one but the algorithms have been tested over all scenarios - Fed rate changes, earnings, etc - and you must not worry about it while in this challenge.

You must never bring up a chart of the stock you are holding because your brain will filter the patterns according to --- well your brain --- let the algo figure out the pattern. Let your brain do other things. 

The most important aspect of this challenge is -  DO NOT WATCH THE STOCK INTRADAY -  the only thing you need to know about the stock is if the algo signals it as a HOLD or a SELL. 

This is where you will be begin to create neural paths. The pathways along which information travels through the neurons (nerve cells) of the brain can be compared with the paths through a forest. As people keep taking the same route through a forest, the path becomes more and more habitual. But in order for the path to become habitual, you have to create it first. Then once created continue to use it. 

The neural pathways in the brain begin to solidify by age 25; however, new neural pathways can be created with a bit of effort. By challenging yourself and taking on new habits, you can grow more neurons and create new pathways.

This is the most important part of this Challenge. You must follow the rules of the Challenge to create these neural pathways.  

Just Saying!!!

5. Join the 20 - Day Trade Challenge Closed Facebook Group

This is where you can interact with other members of the challenge.  I will also be posting relevant news each morning from around 10:00 to 12:00 EST. 

You just click the Join button and I will approve it once I'm sure you are a member here. 

Remember ...

1. You need a brokerage account. We do not paper trade nor use a simulator.

These are excellent tools for learning a system but not for learning how to reign in emotions when trading. Our emotional link to our money is what we need to change. 

2. You need a rudimentary understanding of trading terms. We enter all trades with a LIMIT ORDER so you need to understand what that is. You need to understand what "Filled or not Filled" means. You need to know what to do when the signals say:

  • BUY
  • SELL
  • HOLD

3. We will be using an algorithm that goes long only so if you don't have a margin account, you're good to go.

4. Each night, you log on to Quantitrader.com (QiT) web site Members/20 - Day Trade Challenge Signals about 2-3 hours after the market closes, typically around 8:00 PM EST. The data we use routinely takes 2-3 hours to become available after the market closes. 

5. Enter the trades according to the signals posted.

6. Go about your business and do not watch the market the next day to see if you are filled on a trade, you'll find out the next time you log on to the website for the signals.

7. One more very important item I'm going to ask you to do. Quit all other trading for the next 20-days. 

This is very important, if you are going to cut the umbilical cord.

You need to concentrate on retraining your brain.