Important Announcement – Before You Subscribe To Our Premium Service

By Lawrence

What I am going to say will impact your decision to subscribe to our premium service – Lawrence Chan. April 7, 2023

TLDR

1. I am going to have very limited amount of time helping new subscribers from now on because of high priority in running my proprietary trading firm and hedge fund management duties. I am a professional trader first and being an operator of this site is a muse.

2. All existing content and services will continue to be offered indefinitely – both free and premium areas.

3. I will still try to give my thoughts about the markets in the morning through the real-time commentary tool. It is the best way to show traders the thought process on how to prepare for a trading day.

4. Premium articles are useful to help one building one’s trading career. Some of those trading models presented are the backbones of the algos we use in our proprietary trading. This shows how powerful they are in the right hands.

5. I will continue writing the monthly newsletter.

6. I will try to produce new premium content like videos and research articles several times a year.

7. Support will be limited for free members.

8. Existing premium members know how to find me and I always reply to them.

9. I will limit or stop taking in new premium members in the future.

10. As of May 2023, real-time tools and end of day bias reports are no longer updated due to complete revamp of the backend is needed. We do not have an exact target time for the transition. The goal is to get part of the tools working first and build up from there.

No need to read the rest if you don’t want to.

My Thoughts

Not everyone succeed in trading. A retail trader needs all the help to stand a better chance. Since I can’t provide as much time to help, I have to make sure you know the limitations of what this site offers.

Over all these years, I get to meet many of you online and even in person for a few of you. I am very grateful for the friendship. This is also the main reason for keeping daytradingbias running.

If you are a retail trader just started trading, you can sign up for free and read all the non-premium trading materials I wrote over the years. You will learn a lot from them. Whether you can change yourself to match the markets you want to trade will be a true test of your personality.

What Has Changed

Over the past two years my team has worked very hard to pursuit our goal in building a top-notch proprietary algo trading firm. We are entering the next stage of our business. The amount of work will grow exponentially going forward as we expand our operation.

There were many technical obstacles we faced during our early days. Many of which are very costly and caught us by surprise. Instead of sticking to certain brokerages with their faulted technologies, we were forced to look for alternatives and build our own trading tools and framework from scratch.

Now that the hard part in developing the foundation is completed and battle tested, the rest is much easier going forward.

Why Algo Trading

I trained professional traders in my earlier days in the financial industry. One thing no one will tell the young guns is that the firms do not care if you make it or not. They are not grooming you to become a proficient trader. They are looking for those who are born with certain traits that can do it right. In other words, these firms know that you can’t really learn from a good professional trader by learning the trading techniques.

Unless you can think like a great trader, you can’t trade like one.

On the other hand, a proper view of how price actually moves, instead of believing in all those bullshit out there, can help one finding profitable trading algos, one at a time.

So even if someone can’t trade successfully by discretion, it is still possible to do it mechanically as long as the algo is consistently profitable and manage by someone else.

In short, for both the 90% of normal people, and a proprietary trading firm scaling up, algo trading is the best way to go.

Why Building a Firm

Being a good consistent professional trader can make good money. It is a fact.

But to build a firm that scale up massively, it takes way more than trading skills and industrial knowledge. It takes someone who has managed large amount of money, with strong technical background, and the will power to take on this long game. I know I am qualified.

So instead of taking on a easier path to trade for myself, I decided to give this venture all I have to see if I can maximize the potential.

Who knows how much we can accomplish in five years. In ten years I aim to grow our operation into a power house in the financial world.