<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:googleplay="http://www.google.com/schemas/play-podcasts/1.0"><channel><title><![CDATA[The Indentured Trader]]></title><description><![CDATA[Learn to start trading by actionable steps that I learned from a Market Maker and I paid good money for.

This is to help all aspiring traders avoid the painful mistakes I made when starting to Trade.]]></description><link>https://www.theindenturedtrader.com</link><image><url>https://substackcdn.com/image/fetch/$s_!4Wm9!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff27e3c64-90ba-4b42-ad89-b0aade7a4a6d_1280x1280.png</url><title>The Indentured Trader</title><link>https://www.theindenturedtrader.com</link></image><generator>Substack</generator><lastBuildDate>Mon, 11 May 2026 12:33:43 GMT</lastBuildDate><atom:link href="https://www.theindenturedtrader.com/feed" rel="self" type="application/rss+xml"/><copyright><![CDATA[Jon]]></copyright><language><![CDATA[en]]></language><webMaster><![CDATA[tid10k@substack.com]]></webMaster><itunes:owner><itunes:email><![CDATA[tid10k@substack.com]]></itunes:email><itunes:name><![CDATA[Jon]]></itunes:name></itunes:owner><itunes:author><![CDATA[Jon]]></itunes:author><googleplay:owner><![CDATA[tid10k@substack.com]]></googleplay:owner><googleplay:email><![CDATA[tid10k@substack.com]]></googleplay:email><googleplay:author><![CDATA[Jon]]></googleplay:author><itunes:block><![CDATA[Yes]]></itunes:block><item><title><![CDATA[PRESERVE CAPITAL, SURVIVE TO TRADE]]></title><description><![CDATA[Some days, the winning trade, is no trade at all.]]></description><link>https://www.theindenturedtrader.com/p/preserve-capital-survive-to-trade</link><guid isPermaLink="false">https://www.theindenturedtrader.com/p/preserve-capital-survive-to-trade</guid><dc:creator><![CDATA[Jon]]></dc:creator><pubDate>Mon, 21 Jul 2025 23:01:02 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!xOEa!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9704e08f-39ca-4b2d-85ca-1531badc0242_3761x1937.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<h1><strong> The Discipline Trade</strong></h1><p><strong>"I cannot trade this. I will stay out today and live to trade tomorrow."</strong></p>
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   ]]></content:encoded></item><item><title><![CDATA[MARKET TRADERS TORMENT]]></title><description><![CDATA[The Prognosis & Recovery]]></description><link>https://www.theindenturedtrader.com/p/market-traders-torment</link><guid isPermaLink="false">https://www.theindenturedtrader.com/p/market-traders-torment</guid><dc:creator><![CDATA[Jon]]></dc:creator><pubDate>Fri, 18 Jul 2025 04:14:21 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!wnfn!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F86491090-dc97-4d3e-824b-ab7a21c17b52_1869x1147.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><strong>T</strong>here will be trading days when the market gives to you, there are days the market will taketh away from you, and there will be days it will just humiliate you, just a little sting now and then to remind you how infinitely small you are compared to it.</p><p>Then, there are those legendary days! </p><p>The days when it violently throws you down the stairs,  like a rag doll in a force five tornado, ejects you through a reinforced plate glass window, and unceremoniously leaves you bloodied, lacerated &#8212; dignity in shreds, and your pride stripped away laying you naked for all the big market participants to see, barely clinging onto trading life.</p>
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   ]]></content:encoded></item><item><title><![CDATA[Issue #3- Trading Platform, Which One?]]></title><description><![CDATA[What is the best trading platform/software to start practicing on?]]></description><link>https://www.theindenturedtrader.com/p/issue-3-trading-platform-which-one</link><guid isPermaLink="false">https://www.theindenturedtrader.com/p/issue-3-trading-platform-which-one</guid><dc:creator><![CDATA[Jon]]></dc:creator><pubDate>Tue, 15 Jul 2025 10:19:26 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/c55b6313-9d9d-4d48-a0a1-e49d8d0bb95b_1313x1180.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p><strong>The Indentured Trader</strong><br><em>indentured</em> (adj.): bound by a contract, especially one in which a person agrees to work for someone for a fixed period of time.</p><p>Trading is exactly that &#8212; a contract you sign with yourself.<br>It demands repetition, resilience, and total commitment.</p><div><hr></div><p><strong>Lo and behold &#8212; finally, your first actual step on the trading journey toward consistent profitability.</strong><br>Or so you think.</p><p>You might even be saying to yourself:</p><blockquote><p>&#8220;Finally. Enough of the preaching. Time to start doing something.&#8221;</p></blockquote><p>You couldn&#8217;t be more wrong.</p><p>Just because <strong><a href="https://tid10k.substack.com/p/copy-the-indentured-trader?r=1p5rhm">Issue #1</a></strong> and <strong><a href="https://tid10k.substack.com/p/the-indentured-trader?r=1p5rhm">Issue #2</a></strong>  didn&#8217;t have you clicking buttons or watching charts does not mean you weren&#8217;t already in motion.<br>Your journey &#8212; the real one &#8212; started back at <strong>Issue #1</strong>.</p><p>Should you believe otherwise, I encourage you to go back and read it again.<br>Read it twenty times if you have to.</p><p>(Just to make one thing easy on you, I linked them up for you&#8212; just click on on the link, and it will take you directly there.)</p><p>If you don&#8217;t internalize what&#8217;s in there &#8212; if you are unable to implement those ideas as  a part of your core as a trader &#8212; then stop now.</p><p>Take it from me  &#8212; I have been there already.</p><p><br><strong>Bin it. Go do something else! </strong></p><p><br>Otherwise, this business will put you through the ever so painful meat grinder, and you&#8217;ll think it was just bad luck.                                                                                        </p><p>That is the only consistency you will acquire.</p><p>The development of a trader&#8217;s mindset takes time. A fact I could not have reconciled myself to upon embarking on this journey<strong>. </strong>. </p><p>Had I followed the very advice I&#8217;m now giving you &#8212; the same advice my mentor gave me &#8212; I might&#8217;ve spared myself a very painful learning curve.</p><p>I was obstinate and stubborn &#8212; maybe you won&#8217;t be!</p><p>In that time, I faced:</p><ul><li><p>Draw downs.</p></li><li><p>Bad days.</p></li><li><p>&#8220;The market&#8217;s out to get me&#8221; beliefs.</p></li><li><p>The odd win that made me feel like a genius.</p></li><li><p>Maybe even a big win that lures you to think you&#8217;ve <em>made it.</em></p></li></ul><p><strong>Beware.</strong> That&#8217;s the market baiting you for more generous donations.<br>Just like a carnival game &#8212; they make it look easy, hand you a win, then take you to the cleaners.</p><p>And they&#8217;re so good at it, you won&#8217;t even know it&#8217;s happened &#8212; until it&#8217;s all over, and you can&#8217;t even afford a McDonald&#8217;s cheeseburger.</p><p>And to drive this opening monologue home:</p><blockquote><p>If you&#8217;re elated after a win, or depressed after a loss, then congratulations &#8212; you&#8217;ve just met your first real opponent: <strong>your own emotional vulnerability.</strong></p></blockquote><p>There will come a moment of clarity for each one of you,  when you tire of the emotional roller-coaster, all the aforementioned above that provide the catalyst for those highs and lows, and that will be the singular moment you embark on your individual journey toward emotional containment and discipline. </p><p>That journey is unique to each of you, </p><p>You cannot, you must not compare yourself to others. </p><p>You will arrive in your own time, and according to your own talents and abilities.</p><p>At the end of the day, ideally , you shouldn&#8217;t feel <em>either</em>. A small win? Good. A  large win. Fine. A small loss, if you executed your plan correctly. No problem.</p><p><br>It&#8217;s just another day<strong>.</strong> Accepted risk. Accepted outcome.</p><p>Job done, time<strong> </strong>for a margarita.</p><div><hr></div><div><hr></div><p><strong>&#128205;Section 2 &#8212;</strong></p><p>In the subtitle of this issue, It asked:</p><p>&#8220;What is the best trading platform/software to start practicing on?&#8221;</p><p><em><strong>Answer:</strong></em></p><p>Whatever platform you feel most comfortable with &#8212; and that fits your individual criteria.</p><p>Not the answer you were hoping for? Quite.</p><p>If you&#8217;re searching for the best platform, you&#8217;re already thinking about this the wrong way.</p><p>There is no singular &#8220;best.&#8221; Only the one that suits:</p><ul><li><p>Your screen setup.</p></li><li><p>Your preferred contract(s).</p></li><li><p>How you process and interpret information visually.</p></li></ul><p>You&#8217;ll hear loud voices online swearing by NinjaTrader, Sierra Chart, TradingView, Jigsaw, Tradovate, Interactive Brokers, TradeStation &#8212; and a dozen more.</p><p>Some are fantastic.</p><p>Some are complete overkill.</p><p>Some are absolutely not beginner-friendly.</p><p>All of them have quirks that will, at first, drive you mad.</p><p>None of that matters.</p><p>The point is: you must select one &#8212; and stick with it.</p><p>No platform hopping.</p><p>No perfect solution hunting.</p><p>No paralysis by analysis.</p><p>Your job right now is simple:</p><ul><li><p>Choose a platform</p></li><li><p>Learn it inside and out</p></li><li><p>Use it to build muscle memory and execution discipline</p></li></ul><p>That&#8217;s it.</p><p>You&#8217;re not here to become a platform expert.</p><p>You&#8217;re here to become a trader.</p><p> To achieve that, you need a tool you don&#8217;t wrestle with &#8212; something that fades into the background and lets you focus on what matters: execution.</p><p>It&#8217;s said that a master swordsman becomes one with their blade &#8212; that the weapon becomes an extension of the body.</p><p>Same principle here.</p><p>Your platform must become part of you.</p><p>Every hotkey, every chart, every nuance &#8212; second nature.</p><p>If you&#8217;re hesitating on order entry, fumbling around settings mid-trade, or unsure what that line on the chart means, you&#8217;ve already ceded edge to the market. More than likely, you just made an involuntary donation to it, and it won&#8217;t even show you any gratitude either.</p><div><hr></div><div><hr></div><p><strong>&#128205;Section 3 &#8212; Your First Assignment: Pick Your Platform</strong></p><p>If you&#8217;ve been wondering why this newsletter only comes out once a month, here&#8217;s your answer.</p><p>This issue is the assignment. It marks the first time you actually start doing something concrete &#8212; not just absorbing ideas, but implementing them.</p><p>Your first task is simple:</p><p>&#128295; <strong>Choose a trading platform that works for you.</strong></p><p>Now &#8212; print out the <a href="https://www.theindenturedtrader.com/p/your-first-trading-platform?r=1p5rhm">companion guide</a> I&#8217;m including with this issue. It contains quick breakdowns of the platforms I&#8217;ve personally used, links to explore them further,   More importantly, it gives you a structured starting point.</p><p><strong>A Few Things to Keep in Mind:</strong></p><p>There are platforms where you can trade any asset class. Others are tailored to specific products (like futures, Forex, options, or crypto). Those specialized platforms can often simplify execution and workflow &#8212; but only if they match your needs.</p><p>The industry is always evolving, and firms are constantly competing for your business. Fees are getting cheaper, but they still matter &#8212; especially once you go live. Learn to read a fee schedule.</p><p><strong>&#128161; TIP #1: Choose a Platform That Includes a Simulator</strong></p><p>Nearly all modern platforms offer some kind of sim &#8212; but double-check. A good simulator is non-negotiable at this stage.</p><p>But remember: a simulator is only as useful as you make it.</p><p><strong>&#128161; TIP #2: Trade the Sim Like It&#8217;s Real Money</strong></p><p>Don&#8217;t treat it like a toy. Don&#8217;t &#8220;see what happens.&#8221; This is the part where you train your brain. If you don&#8217;t treat sim trading like it&#8217;s real, then your muscle memory, your mindset, and your habits will all be trash when it matters most.</p><p>Here&#8217;s your move:</p><ul><li><p>Pick a platform.</p></li><li><p>Open an account.</p></li><li><p>Fund it with a token amount (even $20 will do).</p></li><li><p>Subscribe to live data (usually ~$15/month, maybe less).</p></li></ul><p>Treat every fee as an educational expense. A small one &#8212; and one that could save you thousands later.</p><p><strong>&#128161; TIP #3: Don&#8217;t Train with Delayed Data</strong></p><p>Most platforms offer free delayed data &#8212; and that&#8217;s great for chart watching, but not for execution practice.</p><p>Delayed data = training with a false sense of security. Your fills aren&#8217;t real. Your reactions aren&#8217;t in sync with the live market. Your results don&#8217;t reflect reality.</p><div><hr></div><p>&#8252;&#65039; Real Story: Sim Success &#8800; Live Success</p><p>I once took a $50,000 sim account &#8212; running on delayed data &#8212; and ballooned it to $200,000 in just a few weeks.</p><p>(I was being a Scrooge, didn&#8217;t want to shell out for live data.)</p><p>I thought I was unstoppable.</p><p>The sim made trading feel easy &#8212; smooth, even fun. And I let it lure me in under the illusion that I was ready.</p><p>Here&#8217;s what the sim cannot replicate:</p><p>Your real money. In real market conditions.</p><p>You don&#8217;t know what that feels like until you&#8217;ve lived it.</p><p>And when I did?</p><p>What followed was a brutal overdose of reality.</p><p>The fills, the speed, the slippage, the emotion &#8212; it was all too much  &#8212; overload.</p><p>I simply wasn&#8217;t ready when I thought I was. Not even close.</p><p>I&#8217;ll share the full story one day in the chat room &#8212; when there are enough of us to make it worth the telling.</p><p>The conclusion is simple:</p><p>Fake trading teaches fake confidence. Train and Trade as if it were real,.</p><div><hr></div><p><strong>&#128161; TIP #4: Look Ahead &#8212; Prop Firms &amp; Platform Compatibility</strong></p><p>If you&#8217;re aiming to get funded through a prop firm down the road (and you should be), it makes sense to start with a platform they already support.</p><p>Switching platforms later &#8212; when you&#8217;re already deep into routines and muscle memory &#8212; is an added burden.</p><p>Not a deal-breaker. But an unnecessary detour.</p><p>That said, once you&#8217;ve mastered one platform, others become easier. The core logic is the same across most. So don&#8217;t obsess &#8212; just plan ahead.</p><p></p><p><strong>&#128073; Next Step</strong></p><p>In the companion guide, I&#8217;ve listed several platforms I&#8217;ve personally used &#8212; with notes on each, and why they may (or may not) be right for you.</p><p>&#128204; I trade one market, one time frame. That&#8217;s it.</p><p>This isn&#8217;t some secret trick. It&#8217;s how real traders win.</p><p>Even big brokerage firms train new recruits to specialize &#8212; one or two stocks, one or two commodities &#8212; until they master it.</p><p>The market doesn&#8217;t hand out second chances &#8212; and you can&#8217;t afford to give away any edge it doesn&#8217;t already have. </p><p>Especially as a &#8220;Retail Trader.&#8221;</p><blockquote><p>You&#8217;re now at the crossroads where most traders mess it all up.</p><p>Want to avoid their mistakes?</p></blockquote><ul><li><p>Download the guide.</p></li><li><p>Subscribe to the newsletter.</p></li><li><p>Show up ready.</p></li></ul><blockquote><p>No fluff. No hacks. Just the road you actually walk to get good.</p></blockquote><div><hr></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.theindenturedtrader.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.theindenturedtrader.com/subscribe?"><span>Subscribe now</span></a></p><p></p><p><em>&#9888;&#65039;<strong> Disclaimer</strong></em></p><p><em><strong>The content of The Indentured Trader is for educational and informational purposes only. Nothing in this newsletter constitutes financial or trading advice. Trading futures, stocks, and other financial instruments involves risk and may not be suitable for all investors. You are solely responsible for your own decisions and trades.</strong></em></p><p><em><strong>I am not a licensed financial advisor. I&#8217;m sharing my own experiences and insights in the hope that they may help others &#8212; but they are not guarantees of any outcome.</strong></em></p><p><em><strong>Always do your own research. Always use risk capital. And always protect yourself &#8212; because the market won&#8217;t.</strong></em></p><p></p>]]></content:encoded></item><item><title><![CDATA["Your First Trading Platform: ]]></title><description><![CDATA[A Practical Companion to Issue #3"]]></description><link>https://www.theindenturedtrader.com/p/your-first-trading-platform</link><guid isPermaLink="false">https://www.theindenturedtrader.com/p/your-first-trading-platform</guid><dc:creator><![CDATA[Jon]]></dc:creator><pubDate>Mon, 14 Jul 2025 22:20:35 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!XYbm!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adb01b9-3cea-4cc7-9fc6-e7721ef42462_1172x1172.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<h2>&#128295; Intro </h2><blockquote><p>This document is a practical follow-up to <em>The Indentured Trader, Issue #3</em>.<br>If you&#8217;re looking for a simulator to start practicing with, this guide cuts through the noise and gives you direct links, real-world notes, and key considerations to help you make a choice fast &#8212; so you can stop platform-hopping and start learning execution.</p><p>This is <strong>not</strong> a review or ranking &#8212; it&#8217;s a short list of platforms I&#8217;ve used personally.<br>You&#8217;re not trying to find the best platform in the world. You&#8217;re trying to pick one, learn it cold, and use it to develop muscle memory and execution skill.</p></blockquote><div><hr></div><h2>&#128421;&#65039; SECTION 1 &#8212; What You&#8217;re Looking For</h2><p>Before you decide, here&#8217;s what matters most at this stage:</p><ul><li><p>&#9989; <strong>Includes simulator mode</strong> (non-negotiable)</p></li><li><p>&#9989; <strong>Live data available</strong> (~$5&#8211;$15/month)</p></li><li><p>&#9989; <strong>Supports the asset class you intend to trade</strong></p></li><li><p>&#9989; <strong>Is compatible with any prop firm or evaluation you may pursue</strong></p></li><li><p>&#9989; <strong>Simple, intuitive charting and execution</strong></p></li><li><p>&#9989; <strong>You can learn it in under a week</strong></p></li></ul><p>Platforms like Sierra Chart, TradeStation are all full online brokers and you can trade every asset class there is. These platforms will demand far more time as the learning curve is much steeper.</p><p></p><h2>&#128202; SECTION 2 &#8212; Quick Platform Breakdown</h2><p>Below are a few platforms I&#8217;ve personally used, along with comments and affiliate links where available.</p><div><hr></div><h3>1. <strong>Tradovate</strong></h3><p>&#128279; <a href="https://www.tradovate.com">https://www.tradovate.com</a></p><ul><li><p>Futures only.</p></li><li><p>Clean interface, web-based, fast.</p></li><li><p>Built-in simulator and order flow tools.</p></li><li><p>Easy for beginners to pick up.</p></li><li><p>Used by several major prop firms (e.g. Topstep, Apex).</p></li><li><p>Downside: very limited if you're not trading futures.</p></li></ul><div><hr></div><h3>2. <strong>NinjaTrader</strong></h3><p>&#128279; <a href="https://ninjatrader.com/">https://ninjatrader.com</a></p><ul><li><p>Futures focused, but heavy desktop software.</p></li><li><p>Offers a free version with sim + live data package (~$14).</p></li><li><p>Steeper learning curve.</p></li><li><p>Extremely detailed customization &#8212; a plus if you&#8217;re technical.</p></li></ul><div><hr></div><h3>3. <strong>TradingView</strong></h3><p>&#128279; https://<a href="http://www.tradingview.com">www.tradingview.com</a></p><ul><li><p>Wide asset support: stocks, forex, crypto, indices.</p></li><li><p>Great for visual learners.</p></li><li><p>Fast, modern interface.</p></li><li><p>Simulator is good but not execution-based.</p></li><li><p>Not directly supported by most futures prop firms.</p></li></ul><div><hr></div><h3>4. <strong>Sierra Chart</strong></h3><p>&#128279; https://<a href="http://www.sierrachart.com">www.sierrachart.com</a></p><ul><li><p>Built for serious futures traders.</p></li><li><p>Exceptional data handling and depth-of-market display.</p></li><li><p>Steepest learning curve.</p></li><li><p>Excellent for scalpers once you get comfortable.</p></li></ul><div><hr></div><h3>5. <strong>Jigsaw Daytrading</strong></h3><p>&#128279; <a href="https://www.jigsawtrading.com/">https://www.jigsawtrading.com/</a></p><p>Hardcore order flow platform.</p><ul><li><p>Simulator is excellent &#8212; real execution feel.</p></li><li><p>More for intermediate/advanced traders.</p></li><li><p>Expensive, but widely respected.</p></li></ul><p></p><h3>6. <strong>Ironbeam </strong></h3><p>&#128279; <a href="https://www.ironbeam.com">https://www.ironbeam.com</a></p><ul><li><p>Easy order flow platform.</p></li><li><p>Simulator is adequate &#8212; I experienced a few issues </p></li><li><p>Beginners &#8212; Easy to learn &#8212; Simple interface.</p></li><li><p>Good place to start, not widely known.</p></li></ul><div><hr></div><h2>&#129706; SECTION 3 &#8212; Prop Firm Compatibility</h2><p>If you plan to test with an evaluation company at some point, start with a platform they already support. Saves you the trouble of switching later.<br>Most common prop firm platforms:</p><ul><li><p><strong>Topstep</strong> &#8594; Tradovate, NinjaTrader</p></li><li><p><strong>Apex</strong> &#8594; Tradovate, NinjaTrader</p></li><li><p><strong>Leeloo</strong> &#8594; Rithmic feed (via NinjaTrader or others)</p></li></ul><p>Double-check before committing. Detailed issue on Prop Firms comes later when you are ready.</p><div><hr></div><h2>&#129504; SECTION 4 &#8212; What You Should Do Next</h2><ol><li><p><strong>Choose one platform &#8212; TODAY.</strong><br>Don&#8217;t compare endlessly. Pick one that feels right and commit.</p></li><li><p><strong>Fund the account (even $20 is fine).</strong><br>Get live data. Treat it like it&#8217;s real.</p></li><li><p><strong>Learn every screen, button, and hotkey.</strong><br>Build muscle memory so the tool disappears and you can focus on execution.</p></li><li><p><strong>Trade one market. One time frame. One time of day. One style. </strong><br>Do this until you stop caring about the platform &#8212; and start caring about results.</p></li></ol><div><hr></div><h2>&#129534; Final Note</h2><p>This sheet isn&#8217;t meant to give you every option &#8212; it&#8217;s meant to remove 90% of the noise.  You&#8217;ll only get better by doing, not by searching.</p><p>I am currently using Tradovate as my go to simulator, live trading and any prop firm evaluations. It simply works for me. It is intuitive and allows me the features I want from a platform. </p><p>Ninja Trader acquired Tradovate approximately three years ago. The platforms are almost identical. Ninja Trader is more sophisticated than Tradovate in its features and customization&#8217;s. I have no idea if Ninja Trader intends to phase out Tradovate or not. If they do, you won&#8217;t lose anything, if you learned Tradovate, you will be able to transfer to Ninja Trader with little or no transition  time.</p><div><hr></div><h3>&#128229; Want more templates like this?</h3><p>Subscribe to <em>The Indentured Trader</em> and get early access to new issues and downloads:</p><p>&#128279; theindenturedtrader.com</p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.theindenturedtrader.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">The Indentured Trader is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[STRUCTURE IS ONE OF YOUR EDGES]]></title><description><![CDATA[Structure Is an Edge: Why Small Advantages Stack Into Consistent Wins]]></description><link>https://www.theindenturedtrader.com/p/structure-is-one-of-your-edges</link><guid isPermaLink="false">https://www.theindenturedtrader.com/p/structure-is-one-of-your-edges</guid><dc:creator><![CDATA[Jon]]></dc:creator><pubDate>Sat, 28 Jun 2025 02:42:56 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!4Wm9!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff27e3c64-90ba-4b42-ad89-b0aade7a4a6d_1280x1280.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<h1><strong>Discipline Is Not a Prison: Adaptation and the Myth of the Rulebook</strong></h1><blockquote><p><em>&#8220;If you follow rules blindly, you&#8217;re a machine. If you ignore them, you&#8217;re reckless. But if you understand when and why to adapt &#8212; that&#8217;s life. That&#8217;s trading. .&#8221;</em></p></blockquote><p>Most traders love to throw the word <strong>discipline</strong> around like some kind of magic shield.<br>They talk about rules, structure, process &#8212; as if writing them down is enough to protect them from the merciless nature of the market.</p><p>The truth is:</p><p><strong>Rules are only as useful as your ability to evolve them.</strong></p><div><hr></div><h2><strong>Today I Broke My Rule &#8212; And Didn&#8217;t Regret It</strong></h2><p>Friday 27th June<br>End of the week.<br>End of the month.<br>End of the quarter.</p><p>A textbook <strong>&#8220;no trade&#8221;</strong> day by my own system &#8212; low participation, institutional traps, and a high likelihood of donating this week&#8217;s progress back to the market, with interest.</p><p>Today Friday June 27th, a marked difference.</p><p><strong>The structure was real.</strong><br>Not some &#8220;imposter trend&#8221; with fake momentum and nasty reversals.</p><p>This was a clean intraday trend &#8212; small candles, orderly pullbacks, commitment behind the moves.</p><p><br>So I adapted! <br>I took the trade.<br>And I booked <strong>$700.00</strong> on a measured 2-lot position in ES using a trailing stop.</p><p>It wasn&#8217;t emotion.<br>It wasn&#8217;t gambling.</p><p>It was <strong>recognition</strong> &#8212; of structure, of opportunity, and of a setup that actually <em>deserved</em> the exception.</p><div><hr></div><h2><strong>Discipline &#8212; or Disobedience?</strong></h2><p>That&#8217;s the razor&#8217;s edge, isn&#8217;t it?</p><p>Had I taken the trade out of boredom, frustration, revenge, or ego &#8212; just trying to squeeze out one last win for the month &#8212; it would&#8217;ve been a total miserable and disgusting failure of discipline.</p><p>But I didn&#8217;t.</p><p>I took it because I knew what I was looking at &#8212; and more importantly, I knew what it <em>wasn&#8217;t</em>.</p><p>That&#8217;s not disobedience.<br>That&#8217;s <strong>professional adaptability</strong>.</p><blockquote><p><strong>&#8220;If you trade with structure. You trade with confidence.&#8221;</strong></p></blockquote><div><hr></div><h2><strong>The Danger of the Word &#8220;Adaptation&#8221;</strong></h2><p>Let&#8217;s be clear:</p><p><strong>Adaptation is not a get-out-of-jail-free card.</strong></p><p>Too many traders say &#8220;I adapted,&#8221; when what they really did was break their rules out of impulse and hope. Those are but two sentiments that should never, ever, be employed in your trading plan.</p><p>If you can&#8217;t explain your adjustment in clear, logical terms&#8230;<br>If you can&#8217;t repeat it next week with confidence&#8230;</p><p>It&#8217;s not <strong>adaptation</strong>.<br>It&#8217;s <strong>rationalization</strong>.</p><p>And that&#8217;s how you blow yet another account. I should know, I&#8217;m guilty of that very charge, not just once either. I am a repeat offender.</p><blockquote><p><em>&#8220;We are not prisoners of our rules.<br>We are authors of our process.<br>And like all great authors &#8212; revision is the key.&#8221;</em></p></blockquote><div><hr></div><h2><strong>Discipline Is the Foundation &#8212; Not the Ceiling</strong></h2><p>Discipline is essential. It keeps you alive.<br>It is not some far away la-di-da fantasy  &#8212; it&#8217;s the very <strong>foundation</strong>.</p><p><strong>Mastery begins when you can flex without folding</strong> &#8212;<br>When you can tell the difference between:</p><ul><li><p>Adapting to valid market conditions,</p></li><li><p>And chasing shadows in the fog.</p></li></ul><p>When you can say:</p><blockquote><p><em>&#8220;This move deserves at least the consideration of a trade.<br>I&#8217;ll take it &#8212; not because I feel like it,<br>but because the structure is real and the risk is controlled.&#8221;</em></p></blockquote><p>That&#8217;s when you move beyond being a rules-based beginner&#8230;<br>&#8230;to being a <strong>thinking, consistent trader</strong>.</p><div><hr></div><h2><strong>Postscript: Structure Within, Structure Without</strong></h2><p></p><p>There&#8217;s an irony here.</p><p>The same rules and systems we rely on to bring order to life &#8212; laws, routines, structure &#8212; are mirrored in how we trade.</p><p>In life, structure keeps us sane and permits society to function.<br>In markets, it gives us edge. and permits us to take profits.</p><p>Lose either, and we descend into a state of chaos.</p><p>We&#8217;re not just looking for patterns in price &#8212;<br>We&#8217;re looking for <strong>order in the chaos</strong>.<br>Something to <strong>anchor</strong> us in the storm.</p><p>Let&#8217;s face it:<br><strong>Life is chaotic. now, more than ever, the same is true of the markets.</strong></p><p>So yes &#8212; we build rules.</p><p>But sometimes, those rules need to <strong>bend</strong>.</p><p>Too rigid, and we become prisoners of our own systems.<br>Too loose, and we lose the very edge structure gives us.</p><p>The objective isn&#8217;t to follow rules blindly.<br>It&#8217;s to know <strong>when to follow</strong>, <strong>when to bend</strong>,<br>and <strong>when to stand aside</strong>.</p><p>At some point, the market will hand you a move that doesn&#8217;t fit your playbook &#8212;<br>And just like life, will throw a wrench in your day, or worse.</p><p>And in that moment&#8230;</p><p>You&#8217;ll either freeze &#8212;<br>Or adapt and execute &#8212; without apology.</p><p><strong>You choose.</strong></p><div><hr></div><blockquote><p><em>&#8220;A trader has to learn how to trade &#8212; not how to take a trade.<br>What I mean is, a trader has to learn how to read the market.<br>Learn how to anticipate what it will do based on what it&#8217;s telling you &#8212; and go with it.<br>Ask any aspiring trader what they&#8217;re doing and they&#8217;ll tell you about the latest indicator or crossover strategy they&#8217;re using&#8230;<br>That&#8217;s not trading. That&#8217;s just taking a trade.&#8221;</em><br><strong>&#8211; Mike Valtos</strong></p></blockquote><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.theindenturedtrader.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading The Indentured Trader! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[THE INDENTURED TRADER]]></title><description><![CDATA[Why I write the Indentured trader.]]></description><link>https://www.theindenturedtrader.com/p/the-indentured-trader-aeb</link><guid isPermaLink="false">https://www.theindenturedtrader.com/p/the-indentured-trader-aeb</guid><dc:creator><![CDATA[Jon]]></dc:creator><pubDate>Thu, 19 Jun 2025 22:48:55 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/e405c239-cd2c-4ab2-a7e4-983ab02b229c_1671x1458.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p>Thank you for visiting.</p><p>If you&#8217;re thinking about trading for a living &#8212; or you&#8217;ve already taken a few losses &#8212; you&#8217;re not alone. I&#8217;ve been through it too: blown accounts, deep frustration, and the painful realization that trading success doesn&#8217;t come quickly or easily.</p><p>This newsletter isn&#8217;t here to sell hype or shortcuts. It&#8217;s here to speak plainly &#8212; about what it actually takes to become a consistently profitable trader. That road is steep, and it&#8217;s not for everyone. But if you&#8217;re committed to doing this right, from the ground up, then this is a place built for you.</p><p>I named it <em>The Indentured Trader</em> because trading demands a contract &#8212; not with the market, but with yourself. It&#8217;s not a quick escape or a shortcut to wealth. It&#8217;s a commitment to work through your own flaws, your own habits, your own psychology. That&#8217;s the real challenge here.</p><p>Here, I share what I&#8217;ve learned the hard way. Not theory &#8212; but hard experience. The goal is to save you from wasting the time, money, and emotional energy that most traders burn through before they figure out what they&#8217;re actually up against.</p><p>This is not the place you start trading. This is the place you start becoming a consistently profitable trader.</p><h2></h2>]]></content:encoded></item><item><title><![CDATA[ THE INDENTURED TRADER PART 2]]></title><description><![CDATA[Issue # 02 Monday 16th June 2025]]></description><link>https://www.theindenturedtrader.com/p/the-indentured-trader</link><guid isPermaLink="false">https://www.theindenturedtrader.com/p/the-indentured-trader</guid><dc:creator><![CDATA[Jon]]></dc:creator><pubDate>Wed, 11 Jun 2025 05:34:38 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/d1746845-e852-416c-b237-642157ace6b5_1671x1458.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://www.theindenturedtrader.com/p/the-indentured-trader?utm_source=substack&utm_medium=email&utm_content=share&action=share&quot;,&quot;text&quot;:&quot;Share&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://www.theindenturedtrader.com/p/the-indentured-trader?utm_source=substack&utm_medium=email&utm_content=share&action=share"><span>Share</span></a></p><p><em><strong>Indentured</strong></em> (adj.)</p><p>&#8220;<em>Bound by contract, especially one that requires a person to work for another over a fixed period of time, often under restrictive or demanding conditions.&#8221;</em></p><p>&#8212; Oxford English Dictionary</p><p></p><p><strong>W</strong>hat are you thinking now?</p><p> &#8220;I have decided to trade for a living,  I will commit wholeheartedly by resigning my position at work, and get started Monday morning .&#8221; </p><p>Have you actually given any serious thought to it, or will you emulate so many others before you that trod that very same  trading path of self destruction?  As I myself did.</p><p>What expectations do you have, are they realistic? How would you know if they were or not?  </p><p>Without any thought or consideration, you sign up on a platform you know zero about, fund it with no idea of how much except some arbitrary amount. No clue what you will trade, so you try trading everything, </p><p>Does this sound familiar? If so, likelihood is you have just blown your first account, walked the same exact path as thousands, probably tens of thousands before you, as I did. </p><p>You are experiencing the pain of losing your first deposit. (<em><strong>DO NOT forget the pain of losing this money, it will serve you well further down your trading journey!)</strong></em> You consider the groceries it would have purchased, the rent it would have paid, the credit card bill you didn&#8217;t pay but should have. It stings, but you don&#8217;t quit quite yet, you dig your heels in, vowing to show the market who&#8217;s boss, so, you reset, throw another deposit in and convince yourself it will be different this time around. So it goes, on and on until you reach breaking point, and you are broke, dejected, to say the least, and calling your old employer to see if they have filled your former position yet.</p><p>I sincerely hope you are getting the picture here, there is so much to learn and do, before making that first trade. The preparation you do now, whilst you keep your full time job, will save you much down the road and stand you in good stead to become that profitable trader, a coveted member of the five percent that make it.</p><p>If it hasn&#8217;t occurred to you yet, it should do so now. What I write here in these newsletters is not to discourage you, on the contrary, it&#8217;s to encourage you, but, to do it right from the very first day. The training I parted a lot of money for, that you will benefit from here, if, IF, you want to.</p><p>There comes a moment in every trader&#8217;s journey when they realize they&#8217;re not fighting the market &#8212; they&#8217;re actually fighting themselves. Let that moment be here, now, not two years hence, or more. If you can truly assimilate this into your thinking right at the outset and accept it as one of the holy truths of trading, and there are many, then congratulations are in order, you have indeed taken your first step to consistent profitability!</p><p>Would you rather compete in a marathon on a blisteringly hot day, or a five mile run? Here, I would save you the hardship and pain of running a hundred marathons to discover that all important lesson.</p><p>It&#8217;s not the S&amp;P that&#8217;s out to get you, the algorithms, or the news.  </p><p>It&#8217;s your own impatience that clicks the button early.  </p><p>Your own greed that won&#8217;t let you take profit.  </p><p>Your own pride that refuses to admit the trade is wrong.  </p><p>The revenge trade isn&#8217;t about &#8220;getting back&#8221; at the market. It&#8217;s about *not accepting* that you lost &#8212; and needing to prove something to yourself.</p><p>The market doesn&#8217;t defeat you. You defeat yourself, that&#8217;s the enemy within.</p><p>The market is a direct reflection of who you are, and it will reveal your innermost flaws, not just as a trader, but as a human being, like any great selection course, the only difference here, the market was not designed to do that, but the result is much the same. Every time you blow up a trade, you&#8217;re not uncovering some hidden flaw in your edge &#8212; you&#8217;re revealing a flaw in your mindset. That&#8217;s the point. That&#8217;s the indenture.</p><p>New traders think the market is an opponent. It&#8217;s not.  It&#8217;s a mirror. It reflects your flaws instantly and without apology, and that&#8217;s why this work is so personal.</p><p>When I started trading, I thought I was here to beat the market.  You hear it often, &#8220;I beat the market, I cracked the code,&#8221; </p><p>The lesson here, there is no market to beat. It&#8217;s a facility for transactions, in itself, one giant broker, matching buyers with sellers and vice versa. Of course, you have many participants, what&#8217;s more, many different types of participant. Some have better facilities, faster computers, faster connections, insiders like the market makers, institutions, wholesalers, and at the very bottom of the trading food chain, us, the lowly retail trader. As a retail trader though, we have no need of the lightning speed, nor do we need to beat anything, not the market, not the professional traders and certainly not the market makers or those that live and breath this industry. </p><p>To do so, is tantamount to trading suicide, and your express ticket back to the depressing grind of that underpaid, overworked ten hour work day. </p><p>The real work, is to train yourself.</p><p>I&#8217;ve had trades where everything lined up &#8212; the setup, the plan, the levels. And I still blew it because I couldn&#8217;t sit through the discomfort.  </p><p>I&#8217;ve also had trades where I followed my process to the letter &#8212; and walked away calm, clear, and confident, yet, the trade still lost money. Accept it, it is possible to execute everything perfectly, and still lose. Another holy trading truth.</p><p>I&#8217;m unsure when I realized the fact that the win isn&#8217;t the green number. The win is *discipline under pressure.* Every trade is a test of emotional control. The market offers the conditions, you supply the response. A practice you can control, but first must be learned. Remember, you are managing risk. What other industry manages risk? </p><p>Do you know? </p><p>The insurance industry. They are masters of managing risk, and they have it down to an art. That&#8217;s why they are still in business. </p><p>Do you want to stay in business as a trader? Then you need to learn and master risk as well as they do. They know they will have to pay out on insurance claims. Over the long run, they manage that risk so well, they make hundreds of millions. </p><p>Will you manage your risk as a retail trader to the same degree? If you want to be around to trade tomorrow, you better!</p><p>If you&#8217;re trying to improve, stop tracking only your P&amp;L. Start tracking your emotional performance and your risk</p><p>A few prompts that helped me:</p><p>- What emotion led to this trade?</p><p>- Did I follow my plan or react to pain/hope/boredom?</p><p>- Would I take this exact trade again with no emotion?</p><p>You&#8217;re not building a trading strategy, not yet anyway, &#8212; you&#8217;re building a trader and that&#8217;s you, that&#8217;s why this is difficult.</p><p>You&#8217;re not indentured to the market.  You&#8217;re indentured to your own growth, and that&#8217;s eternal.</p><p></p><p>A final quote that was told to the group on my particular selection by the CO.</p><p><em><strong>&#8220;There are only two reasons for failing this course. Either, you are unwilling, or unable&#8230;&#8230;&#8221;</strong></em></p><p></p><p><em>As I write these newsletters, I realize it will demand more of my time to write them. From here on in, I will be writing a newsletter once per month. Next newsletter on the 16th July, we will start delving into what risk management is. It is a very large subject, so may cover numerous issues.</em></p><p><em>I will also briefly discuss setting up your first trading simulator to start practicing and will cover this in more detail later. I may also hold a live chat on Substack for anyone whom is interested.</em></p><p></p><p><strong>Welcome to The Indentured Trader &#8212; Not the place you start trading.                    The place you start becoming a profitable trader.</strong></p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.theindenturedtrader.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading The Indentured Trader! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://substack.com/@theindenturedtrader/note/p-165061802&quot;,&quot;text&quot;:&quot;Leave a comment&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://substack.com/@theindenturedtrader/note/p-165061802"><span>Leave a comment</span></a></p><p></p>]]></content:encoded></item><item><title><![CDATA[THE INDENTURED TRADER PART 1]]></title><description><![CDATA[Issue # 01. Monday 2nd June 2025]]></description><link>https://www.theindenturedtrader.com/p/copy-the-indentured-trader</link><guid isPermaLink="false">https://www.theindenturedtrader.com/p/copy-the-indentured-trader</guid><dc:creator><![CDATA[Jon]]></dc:creator><pubDate>Sun, 01 Jun 2025 10:02:37 GMT</pubDate><enclosure url="https://substack-post-media.s3.amazonaws.com/public/images/d28f0ce9-0bb5-48cb-81a1-5111f15f1c2e_1557x1386.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p></p><p><em><strong>Indentured</strong></em> (adj.)</p><p>&#8220;Bound by contract, especially one that requires a person to work for another over a fixed period of time, often under restrictive or demanding conditions.&#8221;</p><p>&#8212; Oxford English Dictionary</p><p><strong>L</strong>ike much of the world today, the trading space is full of fake gurus &#8212; an ocean of phonies, liars, bounders, cads, and anyone else willing to sell you a dream that rapidly becomes a nightmare. You could wander the trading wilderness for years, wasting time, energy, and your finite financial resources &#8212; only to throw in the towel in despair, disillusioned, and swearing never again to jeopardize your mental well being at the mercy of the trading game. You resign yourself to believing that trading is reserved for the &#8220;Rich &amp; Shameless,&#8221; and you're condemned to serve out your miserable days in some limited miserable job with limited miserable prospects.</p><p>If you are happy with your weekly paycheck however, and going to the bar of an evening and sinking some cold ones with your mates, power to you, this newsletter is not for you.</p><div class="captioned-image-container"><figure><a class="image-link image2" target="_blank" href="https://substackcdn.com/image/fetch/$s_!ULm3!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!ULm3!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg 424w, https://substackcdn.com/image/fetch/$s_!ULm3!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg 848w, https://substackcdn.com/image/fetch/$s_!ULm3!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!ULm3!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!ULm3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg" width="626" height="390.1478873239437" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/a6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:177,&quot;width&quot;:284,&quot;resizeWidth&quot;:626,&quot;bytes&quot;:21156,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://tid10k.substack.com/i/164834116?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!ULm3!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg 424w, https://substackcdn.com/image/fetch/$s_!ULm3!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg 848w, https://substackcdn.com/image/fetch/$s_!ULm3!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg 1272w, https://substackcdn.com/image/fetch/$s_!ULm3!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6e1c7f8-63a7-4dbc-986d-26f30cd3c289_284x177.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div></div></div></a></figure></div><p></p><p>All else though who dream of something more, you've been thinking about something else, have you not?&#8212; Freedom.</p><p>Time to do what you want, when you want and the finances that make it all possible, after all, what's the point of having all the time, if you don't have the finances to enjoy that time? Maybe it was a passing thought while lying in bed. Maybe it came up in a conversation with friends over a drink. Or maybe it was that viral article about a twenty-year-old who turned ten bucks on the sidewalk and traded it into fifty million by the next morning.</p><p>And now, you have just become the next victim in a very long line of them to fall for the dream, the fantasy of rags to riches, of sunsets in some tropical Shangri-La. The reality? No money left, no hair left, and a new wardrobe addition you never imagined: a straitjacket. Maybe if you&#8217;re lucky, it&#8217;s a designer label straitjacket at least.</p><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!IP1C!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!IP1C!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png 424w, https://substackcdn.com/image/fetch/$s_!IP1C!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png 848w, https://substackcdn.com/image/fetch/$s_!IP1C!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png 1272w, https://substackcdn.com/image/fetch/$s_!IP1C!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!IP1C!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png" width="648" height="486.6328125" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/a9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:769,&quot;width&quot;:1024,&quot;resizeWidth&quot;:648,&quot;bytes&quot;:1813377,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://tid10k.substack.com/i/164783646?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F73e88e90-a028-4179-8f50-14969df437a3_1024x1024.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!IP1C!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png 424w, https://substackcdn.com/image/fetch/$s_!IP1C!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png 848w, https://substackcdn.com/image/fetch/$s_!IP1C!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png 1272w, https://substackcdn.com/image/fetch/$s_!IP1C!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa9b635d6-c79b-4304-8a28-ae4b81777d9f_1024x769.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Who Am I?</p><p>Well, if you've seen the title of this newsletter, you already know something about me.</p><p>I&#8217;m The Indentured Trader &#8212; not because I&#8217;ve made it, but because I&#8217;m still in the trenches. I&#8217;ve been a soldier at a high level, a pilot, a flight instructor (which I still am). But the truth is, I turn sixty this year, and some harsh realities of being that age have crept in.</p><p>I won&#8217;t go into them all here, but I know I won&#8217;t be keeping my flight medical much longer. I don&#8217;t want to be tethered to unreliable clients or grind through a routine that&#8217;s no longer mine. I want the same thing you do: freedom. and that has led me to the same place you have arrived at &#8212; trading.</p><p>I&#8217;m writing this newsletter mostly for myself. To document my journey. To become the trader I want to be. But, if in the process, if I can help someone else on that same path &#8212; maybe you &#8212; then it&#8217;s worth it.</p><p>Unless you&#8217;re a prodigy or secretly gifted in ways you never imagined, you&#8217;re going to fight the same battles everyone else has. All the books and YouTube videos will bury you before you even begin. You&#8217;ll hear this same terrifying statistic over and over again: &#8220;90 to 95% of all traders lose money.&#8221;</p><p>It&#8217;s true. Brutally so. And yes &#8212; I was one of them.</p><p>But here&#8217;s the difference: I&#8217;m still here. And now, I&#8217;m finally starting to make headway toward consistent profitability.</p><p>I&#8217;ve been in and out of trading for the last ten years. Options, equities &#8212; blindly swinging at things I barely understood. What did I expect? To succeed?</p><p>That was a fool&#8217;s dream, and you know what they say about fools and their money!</p><p>I didn&#8217;t get serious until last April or May. That&#8217;s when I really began. Before that? Just flailing around, drowning in a sea of information, analysis paralysis, and yes &#8212; still bald.</p><p>And so, this newsletter is precisely about that space. The time in between you have that brilliant notion, and prior to that first memorable trade. The chaos. The doubt. The moment you realize you&#8217;re not just choosing a career &#8212; you&#8217;re choosing to be fundamentally changed, and to change your life for the good, forever.</p><p><strong>What You&#8217;ll Get.</strong></p><p><strong>Every two weeks, I&#8217;ll break down a topic &#8212; not just for beginners, but for anyone who&#8217;s still stuck in that pre-trading purgatory. We&#8217;ll tackle everything that should come before your first trade: the emotional preparation, the traps, the misconceptions, and the decisions no one ever talks about. There is so much to cover before you even consider clicking that mouse button to execute your first trade.</strong></p><p><strong>Next Issue.</strong></p><p><strong>I&#8217;ll include the full subject roadmap, plus the first subject and one book I believe every aspiring trader must read before spending another cent. Trust me &#8212; the book alone will save you many tears and will get you grounded and well on your way to being in the right mindset.</strong></p><p><strong>And allow me to leave you with this final gem of a quote.</strong></p><p></p><p><em><strong>&#8220;Learn from the mistakes of others. You can&#8217;t live long enough to make them all yourself.&#8221;</strong></em></p><p><strong>&#8212; Eleanor Roosevelt</strong></p><p></p><p><strong>Welcome to The Indentured Trader &#8212; Not the place you start trading.</strong></p><p><strong>The place you start becoming a profitable trader.</strong></p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://www.theindenturedtrader.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading The Indentured Trader! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://substack.com/@theindenturedtrader/note/p-164834116&quot;,&quot;text&quot;:&quot;Leave a comment&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="https://substack.com/@theindenturedtrader/note/p-164834116"><span>Leave a comment</span></a></p><p></p>]]></content:encoded></item></channel></rss>