Brian Rehler is the founder and CEO of TraderShark. He started trading over 30 years ago with a capital management fund where he was making 5% a year. But he decided to go into the military and joined the Army ROTC. He operated as a Desert Storm Medevac pilot. After the army, he became a mortgage broker for 20+ years.
But when the Dodd-Frank Act came out, he let his mortgage license expire and started trading full-time. Since then he’s founded TraderShark, wrote 5 trading manuals, started speaking at trading presentations and shows, and has perfected the craft of easy scalping. Listen to this episode of How To Trade It to learn more about his trading psychology and scalping strategy.@tradershark1 shares his scalping strategy and trading psychology in this episode of How To Trade It. Check it Out! #stocks #stock #trading #trader #StockMarket #Investing #DayTrading #StockPicks #scalping Click To Tweet
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You’ll want to hear this episode if you are interested in...
- [1:23] Brian Rehler’s background.
- [6:14] The transition into trading.
- [12:14] Learning from failed trades.
- [15:07] Why you need an accountability partner.
- [18:40] How Brian finds success scalping.
- [23:10] How to increase your winning percentage.
- [24:48] How Brian handles the losers.
- [27:04] How to connect with Brian.
Revenge trading is the death of any trader
When most people take a loss, their ego takes over and they tend to revenge trade. They immediately jump back in and try to make up what was lost. However, as you will learn, "revenge trading" is one of the biggest psychological trading hazards. Brian learned he had to slow things down, to think before clicking. He relies on indicators to tell him when to buy or sell. You have to have a clearly defined set of rules that tells you when to get back in. You have to set potential specific targets and stop limits. You only get back in when your rules line up. Brian points out that it’s easy to say “don’t trade on emotion” but it’s far harder in practice. He still has to catch himself. It’s why he firmly believes “Trade what you see, not what you believe.” Check out our guide to learn how to trade without loss with.
What you can learn from a failed trade
What can you learn from a losing trade that will make you a better trader? What can you do better next time to make a failed trade a successful trade? Our brains tell us “you suck” but you can rewire your brain and adjust and learn from the failed trade. No trader should expect to win every single position they ever enter. Instead, traders should strive to have the best winning percentage possible. Even the best traders still typically have winning percentages below 70 percent. Brian notes that “The quality of our lives is equal to the quality of the questions we ask ourselves.” Don’t tell yourself that you suck. Just tell yourself “I learned one more way not to trade” and ask yourself how you can turn it around. Put your brain to work and start problem-solving. After all, we control our complete success or complete failure. Brian believes success also hinges on having an accountability partner—listen to find out why.What can you learn from a failed trade? @tradershark1 Brian Rehler shares his thoughts in this episode of How To Trade It! #stocks #stock #trading #trader #StockMarket #Investing #DayTrading #StockPicks #scalping Click To Tweet
How Brian finds success scalping
What type of trader are you? Long-term, short-term, swing-trader, day-trader? To Brian, day-traders are scalpers. He likes to use a daily chart and a 4-hour tick-chart. His goal is to be in and out of a position with the S&P best Emini strategy quickly (it’s $12.50 a tick and 4 ticks are $50). So when he trades it may only go up 2 or 4 ticks. If he can make $75 a trade, he can make $150 in a couple of hours.
How much you trade and the risk you take depends on each individual person. He emphasizes that you have to develop your risk threshold. He likes low-risk high-probability trades where he can knock out $75 with only two contracts. If you increase the contract size, you increase your earnings. Small amounts add up. Why else does he like scalping over long-term trading? He shares his thoughts, so keep listening.
Can scalping increase your winning percentage?
If you’re trying to predict the weather a week out, you’ll get the forecast wrong a lot. You’d be right more often if you’re only predicting an hour out, right?. Scalping is similar to a short-term forecast: It’s a low time-frame, so you only have to predict what’s happening in the next few ticks. So the odds of getting it right are higher than when trying to do long-term forecasting. Working within a trading time frame that you are comfortable with can help you better manage your portfolio's overall performance.
Most of Brian’s charts are a wave time-frame. So he watches for when a higher time-frame chart goes a specific direction. Then he looks at a lower time-frame chart to enter the position. The short-wave needs to confirm the higher time-frame. If you trade your lower-time frame against your wave, you’re going to get your hand slapped. He encourages everyone to trade with two charts. How does Brian handle the losers? Where does he set his stop-loss? He answers these questions AND shares a special offer just for listeners. Don’t miss it!Can scalping increase your winning percentage? @tradershark1 shares his take in this episode of How To Trade It! #stocks #stock #trading #trader #StockMarket #Investing #DayTrading #StockPicks #scalping Click To Tweet
Resources & People Mentioned
- Use the code “Casey” for 25% off anything on the website.
- The Dodd-Frank Act.
Connect with Brian Rehler
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