February 23, 2017

About author

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 17 years of experience.  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, sophisticated software for reading order flow  e t.c.). The best trading decisions are usually made with a naked price chart, combined with a 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, the best athletes are not the ones who train in fancy gyms. In a trading world, the best traders are not the ones who use fancy software. “Сommon sense” is not the same as “Conventional wisdom”. It involves constant reality checks, honesty, the 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 the 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 the “Combine” program from the 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 Learned not to sell naked out-of-the-money options 🙂 Avoided losing most of my funds, having withdrawn them 1 month before the broker went bankrupt (PFG Best). Eventually, mastered advanced options strategies and added them to the list of my tools.

2012 – till now: Still in the game, actively trading. Now, mostly day and swing trading futures/Forex/Cryptos (1-5 days), employing partially manual, partially algorithmic strategies (Python + Binance, C#)

 

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.

#3. VSA: 

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.