Shawn Lucas Quote 1

Shawn Lucas opened his eyes to the world of currency exchange in the early 90’s. After getting his degree in Economics, he spent his time working on the trading floor with Charles Schwab.

Over the years, Shawn slowly moved from investing in Stocks to trading Forex. During the transition, he used his knowledge of investing in Stocks and tweaked it to Forex. But it wasn’t until one light bulb moment where Shawn married the Average True Range (ATR) indicator with a certain piece of price action and tipped the probabilities in his favor, that he finally found peace (and consistent profits).

This success led Shawn to start his own company, after an unusual trip to China. You may have heard of it: Apiary Fund.

Podcast Interview

Trading Nut by Cam Hawkins 29: This One Simple Tweak Was The Final Piece In His Trading Puzzle w/ Shawn Lucas
00:00:00 00:00:00

Interview Links

TraderOnTheStreet.com
ApiaryFund.com
Facebook
@apiaryfund

Broker and Platform

Interactive Brokers



Key Lessons

  • [14:01] In my career, it was never a one trade type setup, it was always building a position and working around the positions.
  • [18:49] Making money in the currency market, at some point throughout your career, you get to the point where it just starts to get easy.
  • [24:47] The ATR gives you this idea of what the candle size the magnitude of each candle ought to be.
  • [27:37] If you’re not in line with what the market is willing to give you, then ultimately, you’ll fail as a trader every time.
  • [27:51] As long as you’re in sync both with the time it takes the market to give you and the magnitude of the movement the market’s gonna give you then you’re very well balanced and you can perform some really great things in the market.
  • [30:57] A strategy is really designed to tell you what to do in the market and part of that strategy ought to be designed to tell you how much risk to take in that market.
  • [31:30] So many traders focus on “what to do” and “how much I should do” but there are very few traders who focus on “how to do it”.
  • [42:08] As long as your tuned to those price cycles, things will generally work out for you in the long run.
  • [45:38] Getting a really solid consistent performance out of the Crypto market is developing, it’s in its early development stage.
  • [49:33] I don’t want trading to become a job, I just want it to be fun and I wanna be able to make money.
  • [53:15] There is nothing better in this world than learning this art, this skill. It’s so liberating!

Shawn Lucas Quote 3

Shawn’s Trading

  • He trades Forex
  • He’s the head trader/founder of Apiary Fund
  • He uses price action and focuses on the non-trending periods of the market
  • He looks only at the ATR only in the cycles of the market, the distances between the pivot points
  • He uses a rule that he would only target one-third of the price cycle
  • He uses multiple entry positions on different trigger points (different timeframes) which he calls layers
  • He’s scalping in and out of the market while his initial setup is starting to form on the timeframe he’s getting the signal on
  • 98% of his trades are done on the EURUSD
  • He doesn’t scan through the rest of the market and only focuses on the EURUSD
  • He wakes up 5:30 in the morning, looks at the market and starts building a few positions prior to the new events
  • He starts building his positions during the consolidation phase
  • He also trades Cryptocurrency
  • He’s building longer term positions in the Crypto market

Shawn Lucas Quote 4

Shawn’s Strategy of the Week

Say the market has moved in the entire price cycle on the 5-minute chart which means it has moved from a pivot low and he’s expecting a pivot high.

  • If he sees an exhaustion play and if the market moves into a consolidation on the 1-minute chart, he marks the apex bar and several inside bars of that apex bar
  • He puts his triggers around that apex bar and looks for a reversal or a continuation trade based on his price structure on the 5-minute chart
  • Once the market crosses the trigger bar, he gets into the trade and targets one-third of his price cycle


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