…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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This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.