Greetings, reader! I welcome you to my personal blog.
My name is Stanislav (Stan) Bernukhov, I’m full-time Futures, Options and Forex trader with more than 12 years of experience, (trading part time before 2008). For a number of years, I run a blog on Russian (Bernuhov.com). Now, in 2017, I’ve decided to run the additional project (commonsensetrading.pro) for my English-speaking fellow traders. Here, you will find articles, webinar recordings, and other useful content on trading, which, I hope, will help you become a better trader.
Why is this project named “Common Sense Trading”?
I believe that you don’t need any fancy tools to be successful (Complex indicators, sophisicated software for reading order flow e t.c.). The best trading decisions are usually made with a naked price chart, combined with volume histogram (or volume profile) for confirmation. The rest comes from our ability to make realistic assumptions and interpret market action correctly.
In a sports world, best athletes are not the ones who train in fancy gyms. In a trading world, best traders are not the ones who use fancy software. “Сommon sense” is not the same as “Conventional wisdom”. It involves constant reality check, honesty, ability to find/implement best practices and maintain self-awareness.
Welcome to the community of conscious traders!
My brief Bio:
2004-2008: Accumulating initial trading experience. Mostly trading Forex, struggling to make any profit. Trading part time.
2008-2012: Decided to start trading full time. Transitioned from Forex to Futures (CME). A free fall of S&P500 index and commodity futures allowed me to build up a decent trading account and make a living out of the process. After having gained some experience, I added currency pairs to my list of tradable instruments again. In 2012, I’ve passed “Combine” program from Topsteptrader project, trading ES (S&P500).
Started trading options on futures (CME and Moex). Learned not to sell naked out-of-the-money options 🙂 Avoided losing most of my funds, having withdrawn it 1 month before broker gone bankrupt (PFG Best). Eventually, mastered advanced options strategies and added them to list of my tools.
2012 – till now: Still in the game, actively trading. Now, mostly swing trading futures/Forex (1-5 days) on liquid markets (Currencies, Gold, Crude Oil, Stock indices).
What shaped my trading:
There is so much to be learned in trading. Below I’ve put my own small “top-5” list of most useful concepts and ideas. At least, they were so for me. There they are:
#1. Price action and chart reading:
After several fruitless years of indicator based trading within a period of 2004-2007, I’ve finally come to reading naked price chart and “price action” analysis. Books and ideas of Larry Williams, Linda Raschke, Joe Ross and other authors helped me to trade naked price chart profitably.
#2. Market auction theory:
Webinars and books by Jim Dalton helped me add important pieces to a puzzle. I haven’t become “profile trader”, but use market profile for analytical purposes. It helps me see more than before and distinguish signal from the noise.
Books by Tom Williams and other authors helped me to recall forgotten yet powerful principles of the Dow theory, which is still relevant in today’s markets.
#4. Reading order flow.
Application of “Jigsaw Dom” (add-on for NinjaTrader trading platform) allowed me to watch markets from a bottom-up perspective and understand how trending days differ from rotational days. Now I apply order flow for confirmation while trading stocks and futures.
#5. Self-coaching and deliberate practice:
Books by Brett Steenbarger and webinars by Andrew Menaker helped me become more conscious and disciplined. There’s still much to work on – after all, trading is a mental game. The mental game requires building mental edge – every day, step by step.