…or a Hollywood Blockbuster
(There is a formula.)
I went back recently to my old trading journals (and there’s over two decades of them) and reviewed how I used to build trading set ups 20+ years ago and how I do it now. While certainly some details and tools have changed (I used to plot my charts and indicators by hand then!)…the one thing that remained the same was the way I told my trade’s story.
Even now I discuss the “Individual Currency Story” or “ICS” in my chat room each morning.
Every trade has a narrative.
The trades that we take have a story that we can wrap our head around and then prove with price.
That’s how I still build my trades today: Like a story. Three acts, seven point. Worked for Shakespeare. Good enough for me.
This point was driven home by a recent Carl Ichan interview I watched on CNBC. Each of the stocks he owned had a story. It wasn’t just his story but the story of the company, how he got interested, why he chose to buy it, why he still holds it today…or not.
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