[12/24/2024] Just before Thanksgiving, I had a massive red day losing over 37% of my account. Today, on Christmas Eve 2024, I've officially recovered from my second drawdown. My first drawdown took me 36 trading days to recover. The second drawdown was 4x larger and took me just over half the time (19 trading days) to recover. Progress! Here's what worked for me - spoiler alert it was 98% mental: - MISSION - know yours. I started with an exceptionally small account ($200) and my future dreams were tripping up my current situation. If you're starting out small (or in simulation), remind yourself that your priority now is to gain market experience, build a scalable strategy, and develop your own edge. Don't put the cart in front of the horse. Write down your long term goal(s), then break them down into short term goals that aim to get you there. Refine your goals as necessary, and check in frequently to determine if you're on track or need to adjust. Humble yourself and start as basic as your situation and background requires. - SELF-CARE: I CAN'T EMPHASIZE ENOUGH HOW IMPORTANT IT IS TO BE KIND TO YOURSELF. You need to do honest self-analysis of what lead to the loss/drawdown (to identify actionable adjustments). We're all human; we all make mistakes - sometimes repeatedly. In the face of defeat, it's important to also recognize your wins and find a silver lining - somewhere, ANYWHERE. There's always something to build on. You can't build confidence if you're constantly tearing yourself down. Be realistic (see MISSION), but cut yourself some slack, will ya? - DISCIPLINE AND RESOLVE: Be patient and wait for quality A or A+ setups - write down your criteria and stick to them. Don't chase something out of your wheelhouse, or it will be harder to consistently identify variables that lead to a trade's success or failure. You start at zero. Treat every trade like it's your first and only trade of the day. For God's sake, go for base hits. Swinging for the fences may work once or twice, but you'll lose more often than you win in the long run. If you can consistently get BASE HITS, you'll find that sometimes those base hits really connect actually turn into home runs. Don't try to make up for a big loss with a couple trades. Take days, weeks, months to grind back out and use it as reminder that it's easier to be disciplined on cutting losers than to grind back from deep red. Starting out, stick to one (maybe two) high quality setups (as a beginner, or when learning a new strategy, stick to the higher probability setups - "Thinking in Bets" by Annie Duke). Don't be afraid to go back to the simulator or SIGNFICANTLY reduce share size and trade volume if you need to refine your process. - RISK MANAGEMENT: Your capital is your army of $. It takes money to make money. Don't send your troops into a high risk/low reward situations. Set "Kill Criteria" (from "Quit" by Annie Duke) to establish hard boundaries for when your trading day is over - and stick to them! Know your exit (stop loss) and profit target before you enter any trade. - ROUTINE: Set up a pre-trade checklist and run through it every day BEFORE you start trading (late adoption). Review trades every evening with a fresh mind to analyze what went wrong, what went right. - JOURNAL: This arguably goes under routine, but it's important enough to stand on its own. Journal every trade. Review your journal every day. Don't just journal what went wrong. Also look for the easiest trade of the day (even if you didn't take it) to identify what made that one good/easy (thanks, Derek!). Look for trends to help you identify variables to improve your edge: certain price range? certain % gain? volume/relative volume? news? float? other technicals or fundamentals? certain times of day? physical/emotional condition (look up IMSAFE)? You're not just looking for patterns on the chart - you're looking for physical, emotional, and logistical patterns as well to find your sweet spot.

Hey all! So grateful to have you all in here! With the changes to our community coming up VERY SOON (We are ahead of schedule!), we wanted to take a second and outline the future of our community posts: ✅ Clear Purpose: Posts should focus on questions, insights, and experiences that align with making money using the strategies taught in the Legacy Profits Club. ✅ Specific and Relevant: Posts should directly relate to trading, risk management, and the strategies we teach in here. Off-topic posts, self-promotion, or conflicting strategies can confuse our members, expose them to scams, or lead to unnecessary losses from copying other strategies that they don't understand. ✅ Engagement Focused: Encourage conversations with thoughtful questions, polls, charts, and actionable advice. ✅ Respectful and Constructive: Let's maintain an empowering, encouraging community. Some examples of quality posts: - "What's been your biggest challenge implementing the earnings strategy?" - "Would love some feedback on this chart I marked up trying to spot the trend!" - "What's the ideal position size for the small cap gap?" - "I was assigned shares in the wheel strategy, what's next?" - "I landed 5% on the earnings strategy today but it kept going! How can I improve my ROI?" ⚠️ What About Low Quality Posts? 🚫 Avoid self promotion or spam. 🚫 Please refrain from off-topic discussions. 🚫 Posts with conflicting trade strategies will be removed. 🚫 Absolutely no disrespectful engagement or inappropriate content will be tolerated. In general, we want to keep this community focused on Legacy Profit Club trading strategies because we know they work. We want people to see success quickly and can offer the most help around those strategies. Let's keep this space inspiring and beneficial for everyone here! The Legacy Profits Club is here to help you succeed with our strategies and make your first $1000 in the market fast by giving you laser focused skills you can use for the rest of your life.

This week, we wrapped up our FIRST month of the Legacy Profits Club. So far, though we've had some trades that haven't met entry requirements, or have only made smaller profits than we hoped, we've had NO LOSSES. I made this spreadsheet so we can track the trade ideas together in here and see how we are doing! To make the math simple, the spreadsheet assumes 1 contract of each wheel strategy and 15 shares of the other trades to provide both a consistent position size and enough for 3-5 exits of round number shares. More details on the assumptions of the spreadsheet can be found on the "notes" tab. So far, using just the minimums, we made $152.85 in our first month! Check it out for yourself! I hope it's inspiring to you what you can do with minimal investment through our community! We'll keep it updated with each new trade and I'll post on here with the results each month. Here's to many more great months! Congrats, everyone!

"Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful." – Albert Schweitzer

Hey traders! We've got some big news for you! The Trash Panda Trades Community (Which is changing to the Legacy Profits Club soon--more details on the what and why will be released before too long) is currently under construction. Consider our community heading towards a 2.0 update! Over the next 3-5 weeks, you'll notice some revamping happening all with one goal in mind: to help you hit your financial goals faster than ever. What's in store? - A new look - All these improvements call for a fresh paint job! I'm sure the new look and streamlined process will be a welcomed by all. Especially when the cash starts flowing in! - New features - We'll be doing away with some things and introducing new ones with the goal of becoming hyper-focused on helping you make your first $1000 (and more) in the market. How? though a detailed process that is safe (good risk management), simple (uncomplicated, narrowed down strategies only), and supportive (we learn better together). When will these changes take place? From now until sometime in January, you'll notice our exciting updates roll out piece by piece, week by week. When the changes are substantial, I'll try and point them out. Otherwise, consider them Easter eggs and make sure to check in frequently to make sure you haven't missed anything! Colby and I are committed to making sure these changes count where it counts (your bank statements and life goals). So, by the time we are done unveiling the full Legacy Profits Club, it'll be the hub for all of your market ambitions. Why are you rolling it out slowly? I know patience is tough and you're eager to see what's next! Trust me when I say it will be worth the wait. Stay tuned. Get ready to grab all those profits that are about to come your way. And get ready for a transformation that has the potential to bless your family for future generations financially. Here's to new beginnings, bigger profits, and taking this journey towards wealth together!