Matt is a trader, athlete, entrepreneur, speaker, father, and world changing force for good. Matt has a total of 6 years experience trading the stock market, which awards him a full-time income,in only a few hours of screen time per week. As the CTO of Real Life Trading, Matt teaches classes/courses, live webinars, group mentoring sessions, and offers personal coaching ― sharing his knowledge with the RealLifeTrading.com (RLT) community. His humble and authentic presence truly shines through when delivering in-person seminar presentations on mindset, parenting, entrepreneurship and trading. In this episode of How To Trade It, Matt shares the simplicity of his one-and-done strategy. You don’t want to miss it!
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You’ll want to hear this episode if you are interested in…
- [05:13] Focusing on the process
- [10:25] Odds of success
- [11:03] Matt’s challenging experiences
- [16:08] Casey’s takeaways
- [17:04] The Snapback Strategy
- [22:30] One and done trading
Focus on the Process, not the Profit
Matt is a tech/software guy, and therefore, rather practical. When he first started trading, he began tracking or recording all of his trades. It didn’t take long for him to discover that if he just followed the plan, he would be more profitable than if he kept trying to make corrections based on what the market was doing. Matt no longer makes any adjustments once he takes his trade and sets his stops. It doesn’t matter if he wins or loses, Matt finds success in knowing that he followed his plan. It takes training and discipline to get to that point, but once you do, trading becomes so much easier and less stressful. Matt encourages his students to focus on the process and forget about whether or not they are making money on the trade…the profits will come, if you stick to the plan.
The Snapback Strategy
The Snapback Strategy was originally known as the Tesla Snapback Strategy. Matt learned early on that if he was going to be consistent and stick to his plan, he couldn’t waste time looking at a bunch of different stocks - he simply traded Tesla. The name “Tesla” was removed because the strategy can be applied to any stock. It’s kind of the opposite of an opening range breakout. The idea behind this strategy is that in the first three minutes that the market is open, a high and a low is set. Using that first candle as a guide, you place your order, and if it breaks above, you will move in the opposite direction by getting a short order ready; if it breaks below, you prepare a long order. If you think of this in terms of football, the Quarterback generally gets the ball and takes a few steps back before throwing or running the ball forward. Matt has copy and paste orders ready, so that he can buy with ease. There are specific order types that he uses that will help him get into a trade, but only if it moves, or snaps-back, in his direction.
One and Done Trading
The Snapback Strategy is so simple that sometimes people are afraid to try it. You will always trade at the opening of the market…using the first candle from the three minute chart. Once you get the high and the low, you will plug those numbers into your spreadsheet, set the stop and take profits that are already pre calculated for you, and then you walk away. It’s that easy. Matt has even taught this strategy to middle and high schoolers. It’s great for beginning traders as well. Matt uses a traditional R system where he knows a predefined exit before he even takes a trade. If he sets his loss at 1R and his take profit at 1.2R, even with 50/50 odds, Matt knows he will be profitable.
Resources & People Mentioned
Connect with Matt DeLong
- Website: http://reallifetrading.com
- Twitter: https://twitter.com/mattdelong90
- Facebook: https://www.facebook.com/matt.delong.336
- LinkedIn: https://www.linkedin.com/in/matt-delong-86576639/
Connect With Casey Stubbs
- Website: https://caseystubbs.com
- YouTube: https://www.youtube.com/TradingStrategyGuides
- YouTube: https://www.youtube.com/caseystubbs
- Twitter: https://www.twitter.com/caseystubbs
- Facebook: https://www.facebook.com/TradingStrategyGuides
- LinkedIn: https://linkedin.com/in/caseystubbs
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Disclaimer: Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment. Therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.