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Hello, my Friends!
Traders, welcome to the last month of the year – the stretch where legends are made and accounts are either crowned or crushed.
📊 This is rebalancing season. Giant hedge funds and institutions are quietly (and sometimes not so quietly) repositioning billions for year-end reporting.
🎬 Windows get dressed and volatility gets invited to the party whether we like it or not. But no one knows exactly how this movie ends.
This week delivered pure adrenaline:
Microsoft sparks panic by reportedly slashing AI software sales quotas
Hours later: “Actually, we didn’t” – CNBC cites internal Microsoft rebuttal ($MSFT whipsaws)
Bank of Japan sources leak a probable December rate hike – the Yen surges
Zuckerberg signals up to 30% cuts to Meta’s Metaverse division – reality check for VR bulls
Choppy, confusing, headline-driven price action – classic December prelude.
Yet beneath the noise, the message is crystal clear: markets punish the unprepared and reward the disciplined.
The timeless lesson as we charge into the final 31 days of 2025: Have. A. Plan. Whether you’re launching a business or simply protecting the gains you fought for all year – a clear plan is your unfair advantage.
Lessons from the Trenches
If you’re reading this while staring at another blown prop account, another “almost made it” payout that slipped away, or yet another firm that “changed the rules” – this letter is for you.
Most struggling traders are wasting months – obsessing over the wrong thing. They hunt for the “perfect” prop firm: → Lowest spreads → Highest leverage → No time limits → Fastest payouts … all while possessing exactly ZERO proof that their strategy actually makes money over time.
Here’s the order that actually works:
Build a complete, written trading plan
Forward-test it live with real money (even if it’s just $10–25 micros)
Journal every single trade with brutal honesty
Achieve consistent profitability on your own capital first
ONLY THEN choose a prop firm to scale what already works
After 100 trades, calculate three numbers:
Win rate %
Average R:R
Expectancy (the only math that matters)
If expectancy is positive → congratulations, you now own a real edge worthy of prop capital!
You already have everything it takes to turn this around - the only question left is the order in which you do the work.
Weekly Journal
🔔 This week served as a real-world reminder that life does not pause for the open bell.
Personal matters overlapped with my core trading hours, forcing me to dial risk-down to an absolute minimum.
The same happens to everyone - whether you trade full-time or still hold a 9-5 - unexpected obligations can pull you away from the screens without warning.
12/04/25 Session
Every single day begins with defining a risk tolerance I can live with, even on an “off” day. A complete plan must already exist so that when capacity is reduced, execution can still occur with discipline.
From a market perspective, the dominant theme continues to be rotation into small- and mid-cap equities. The Russell 2000 has shown consistent bullish structure and offered me the cleanest entries into New York session
I chose the higher-probability path: entering nearer the midpoint of the move once price had proven it could absorb supply and continue higher. Catching less than 50% of a confirmed trend with a favorable risk/reward profile will always outperform trying to nail the absolute low.
This past week delivered several additional payouts. With December now in full swing, the focus shifts from pure execution to strategic reflection.
Over the coming days, I’ll be conducting a comprehensive year-end review: analyzing performance metrics and stress-testing processes that carried me through 2025.
More details on next week’s letter so make sure to tune in my friends!
Newsletter Partner
Shoppers are adding to cart for the holidays
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Read our guide to find out why growth marketers should make sure CTV is part of their 2026 media mix.
Until next time,
Steve B
Founder, The Daily Impulse
Important Disclaimer:
This newsletter is for educational purposes only and does not offer financial or investment advice. It should not be taken as a recommendation to trade assets or make any financial decisions. I am not a registered investment advisor, broker, or licensed financial professional. Please be cautious and ensure you conduct thorough research or consult with a financial professional before making any investment choices. Trading and investing involve significant risks, including the potential for substantial financial loss.
Some content, including advertisements, promotions, or links, may be sponsored or part of affiliate programs (such as with proprietary trading firms). I may receive compensation, commissions, or other benefits if you click on affiliate links, sign up for services, or make purchases through them. These relationships do not necessarily imply endorsement, and all opinions expressed are my own unless stated otherwise. Potential conflicts of interest may exist due to these partnerships.
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