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In this interview, Josh and Sam—the duo behind the global men’s grooming brand Menspire—sit down to unpack how they scaled from a single UK shop to 30+ locations worldwide, balancing craftsmanship, standardized systems, and a values-driven partnership. Their story isn’t about charts, but the parallels to markets are loud: process over vibes, quality control at scale, and picking the right partners the way you’d pick the right trades. You’ll hear how they codified consultations into a repeatable seven-step framework, built an education engine, and kept the brand consistent from Dublin to Dubai—all while staying disciplined enough to survive a decade in a brutally competitive industry.
Read on to translate their playbook into trader strategy: how to create a checklist that prevents “same again” complacency, why leadership and emotional intelligence matter for your PnL as much as they do for a franchise, how to vet collaborators like you’d vet prop firms, and how brand (your edge) lets you charge a premium because you deliver a premium. If you’re a newer trader, this piece will help you connect the dots between a world-class service business and a durable trading process—so you can build something repeatable, scalable, and resilient when markets (or life) get messy.
Josh Lamonaca Playbook & Strategy: How He Actually Trades
Your Edge: A Repeatable Process That Survives Any Market
Great trading feels artistic, but the edge is built like a craft shop: standardized steps, checklists, and quality control. This section shows how to turn “good taste” into a repeatable pipeline so your winners don’t rely on vibe or luck.
- Write a one-page playbook that defines your A+ setup: market regime, higher-timeframe bias, triggers, invalidation, targets, risk per trade.
- Pre-market checklist (5 minutes): mark key HTF levels, define bias, list two triggers you’ll act on, one condition that cancels all trades.
- Only take trades that match at least 4 of 5 criteria on your A+ card; otherwise, pass.
- Limit to two core play types (e.g., trend continuation + failed breakout fade) to reduce noise.
- Track a rolling 20-trade sample; if expectancy < 0, pause live risk and review.
Setup Selection: Top-Down First, Trigger Second
Stop trying to manufacture trades. Let structure do the talking, then drop down to time your entries with precision. This section gives you a simple, top-down path from bias to execution.
- Start daily on HTF (D1/H4) to set directional bias; trade only in-bias unless a clear reversal structure forms.
- Map three prices before London open: HTF supply, HTF demand, and session midpoint; no entries in the dead zone between them.
- Define two valid triggers per setup (e.g., break-retest + rejection wick; liquidity sweep + BOS); anything else is ignored.
- If spread or volatility is outside your pre-defined envelope (e.g., ATR(14) > 1.5× 3-month median), size down by half.
- “Two-look rule”: if price reaches your level twice and fails to trigger, delete the setup.
Risk: Small, Consistent, Non-Negotiable
Skill scales only if risk is capped and consistent. Here’s how to protect the business side of your trading so one day never defines your month.
- Risk 0.25–0.50% per trade; hard daily loss limit = 1.5R; hit it and you’re done.
- Max 2 correlated exposures at once; if two GBP trades are on, the second must be half-size.
- No adding to losers, ever; scale in only after first position is at break-even and structure confirms.
- Weekend and news gaps: cut size to 0.25R or stand aside if event risk > your time stop.
- Drawdown ladder: at −4R on the week, cut size by 50%; at −6R, stop trading and perform a full review before resuming.
Execution: Clean Entries, Cleaner Invalidation
Entries are cheap; exits are where the money is made. This section turns your chart marks into exact orders and invalidation so you don’t “negotiate” with the market.
- Place stops beyond the structure that, if broken, proves you wrong (not a random pip count).
- First target at 1R to pay risk; move stop to break-even only after a clear micro BOS in your trade direction.
- Time stop: intraday positions must make meaningful progress within 90–120 minutes, swing positions within 2 sessions; otherwise reduce to half or exit.
- If price tags your level but spread widens beyond your cap, skip the trade—no market orders out of plan.
- “One-and-done” rule per level: if stopped out at a level, do not re-enter there without new structure.
Management: Let Winners Work, Cap the Tail Risk
Managing open risk is a craft. These rules keep you from choking winners or riding losers into drawdown.
- Scale out 25–33% at 1R, second partial near opposing HTF level; trail remainder behind structure, not fixed pips.
- If volatility compresses (ATR(14) drops 30% from entry), tighten to the last confirmed swing; if it expands (>30%), widen trail behind the new structure.
- For breakouts, require a close outside the range; wicks alone don’t qualify for adding.
- If correlated positions both hit first target, flatten one and let the cleaner trend run.
- News protocol: if a high-impact event is due within 30 minutes and your trade isn’t >0.8R in profit, flatten.
Sessions & Timing: Trade When Your Edge Lives
Not every hour is created equal. This section gives you simple clocks so you harvest volatility where your setup thrives.
- Primary windows: 30 minutes pre-London to London +2h; New York open to NY +2h. Avoid mid-session chop unless holding a swing.
- Only take first touch of pre-marked HTF level during your session window; later touches require stronger confirmation.
- If first two hours of your session are trendless (no HH/HL or LL/LH on M15), switch to “observe only.”
- Cut size by 50% on Fridays after NY open; protect the weekly PnL.
- No new positions in the last hour of your session unless already in a trade that’s >1R and trending.
Data & Journaling: Turn Craft Into Metrics
Craft becomes a business when numbers confirm it. This section shows how to measure what matters so you can prune what doesn’t.
- Journal every trade with five tags: setup type, trigger, session, volatility regime, mistake/clean.
- Calculate weekly: hit rate, average R win/loss, expectancy, and distribution by tag; only scale what has >+0.3R expectancy over 30 trades.
- Keep a “mistake ledger”: any deviation from plan costs −0.25R in paper; three in a week triggers a size cut the following week.
- Snapshot your chart at entry, partial, and exit; annotate reason for each decision within 5 minutes, not after the fact.
- Run a monthly kill list: remove the lowest-expectancy tag from live trading for the next 20 trades.
Psychology & Routine: Protect the Operator
Discipline is easier when the routine is simple and visible. These habits cut noise and keep your head clear when it matters.
- Pre-market 10-minute routine: hydrate, screens on, checklist, two deep breaths before placing any order.
- One decision aid only (checklist or flowchart); if it’s not on it, you don’t trade it.
- After any two consecutive losses in a session, take a 20-minute reset; third loss = session closed.
- No social feeds or PnL panels during live decision windows; reveal PnL only at session end.
- Sleep, training, and nutrition tracked alongside PnL; if sleep < 6 hours, cap size at 0.25R that day.
Scaling & Capital Allocation: From Solo to System
When your edge proves itself, scale thoughtfully. This section turns consistent results into bigger ones without breaking what works.
- Increase size only when the last 40 trades show positive expectancy and drawdown < 6R; bump risk by +0.1% increments, never more than once per month.
- Cap total open risk at 1.5% across all positions; if taking a third trade, one of the first two must be at break-even or partially realized.
- Keep 20–30% of capital in reserve to survive volatility spikes and platform/liquidity surprises.
- Quarterly stress test: replay your plan through three historic high-vol regimes and confirm your drawdown remains within limits.
- Diversify across uncorrelated instruments/setups, not just more size in the same pattern; one strong setup, one complementary setup.
Samuel Palmer Playbook & Strategy: How He Actually Trades
Principles First: The Operating System Behind Every Trade
Before charts, Samuel runs decisions through a simple operating system—clarity on edge, consistency in process, and care for execution. This section turns that philosophy into rules you can act on today.
- Write a 6-line “edge statement” covering: instruments, timeframe, bias source, trigger, invalidation, and exit logic.
- Standardize chart templates: one clean HTF view (D1/H4) and one execution view (M15/M5); no extra indicators intraday.
- Pre-market decide: “trend, range, or transition?”—only one label allowed per session.
- If the day’s label changes mid-session, size halves automatically for the next trade.
- No discretionary overrides without adding a new rule to the edge statement after market close.
Market Mapping: Top-Down Bias With Precise Levels
Samuel starts with structure, not signals. You’ll define bias from the higher timeframes and translate it into two or three actionable levels that guide the session.
- On D1/H4, mark the most recent swing structure and identify HTF supply/demand zones; bias aligns with the latest break of structure.
- Pre-session, place exactly three levels: primary entry zone, invalidation line, and profit-taking zone; delete all others.
- If HTF bias is up, only plan longs at demand or failed-breakout sweeps; shorts require a confirmed reversal (lower high + break of prior low on H1).
- Build a session midpoint line (previous day’s value area or 50% range) and avoid fresh trades in the dead zone within ±0.15% of it.
- If price tags your level in pre-market with low liquidity, require a second touch during session hours to validate.
Risk Framework: Non-Negotiable Guardrails
Edge is fragile without risk discipline. These rules keep your capital safe and your head clear so you can actually compound.
- Risk 0.25–0.50% per trade; never exceed 1.5% total open risk.
- Daily stop = −1.5R or 3 trades, whichever comes first; hit it and close the platform.
- Cap correlated exposure: max 2 GBP or 2 tech beta names simultaneously; the second position must be half-size.
- No adds to losers; adds allowed only after +0.5R open profit and a fresh structural confirmation.
- In weekly drawdown > −5R, cut risk in half for the next 10 trades and trade only the primary setup.
Entry Triggers: Clean Confirmation, Fast Execution
Samuel’s entries are simple: structure plus one confirmation, then act. This section nails the exact mechanics so there’s no “hope clicking.”
- Valid triggers: (1) break–retest with a close back through your level and a tight rejection wick; (2) liquidity sweep of the level followed by a micro break of structure on M5.
- If spread > 1.5× its 30-day median at the trigger, skip the trade.
- Time stop at entry: if the trade hasn’t moved +0.3R within 30–45 minutes intraday, reduce risk by half or exit.
- Place stops where the trade idea is invalidated (beyond the structure), not at fixed pip counts.
- One attempt per level per session; a stop-out at that level requires new structure before re-entry.
Trade Management: Let Structure Lead the Exits
Exits are scripted before entry. This section gives you clear protocols to harvest winners and cap tail risk without micromanaging.
- First scale at +1R for 25–33% of size; move stop to break-even only after a fresh micro BOS in your direction.
- Trail behind last confirmed swing; do not trail on fixed pips.
- Expand or tighten the trail with volatility: if ATR(14) rises >30% from entry, widen behind the new structure; if it compresses >30%, tighten.
- On breakouts, require a candle close outside the range to add; wicks don’t qualify.
- If HTF target is hit during low-liquidity hours, flatten most (50–75%) and leave a runner only if structure remains clean.
Session Design: Where and When the Edge Lives
Samuel treats time as a variable. You’ll concentrate activity in the windows that historically produce your best follow-through.
- Primary windows: London open to +2h, and NY open to +2h; avoid mid-session chop unless managing an existing swing.
- Only the first touch of your pre-marked level qualifies in-session; later touches need stronger confirmation (two-condition trigger).
- Fridays after NY open: size halves and no new trades in the final 90 minutes.
- If first two hours show no directional structure (no HH/HL or LL/LH on M15), switch to observe-only mode.
- No fresh entries within 30 minutes of high-impact events unless the trade is already >0.8R in profit.
Play Types: Two Core Setups, Nothing Extra
Focus beats variety. This section defines the two setups Samuel consistently runs, so your journal builds depth, not clutter.
- Trend Continuation: trade in HTF direction from demand/supply after a break–retest; entry on M5 micro BOS; stop beyond the origin of the impulse.
- Failed Breakout Fade: after a range fake-out and close back inside, fade toward the opposite side with partials at mid-range and HTF zone.
- Each setup has exactly two valid triggers; anything else is noise.
- If a setup logs expectancy < 0 over 25 trades, remove it from live trading for the next 15 trades while you review.
- Keep a laminated one-pager with both setups and triggers visible during the session.
Data & Review: Turn Craft Into Compounding
What gets measured improves. You’ll track just enough data to refine edge without drowning in spreadsheets.
- Tag every trade by setup, trigger, session, volatility regime, and mistake/clean.
- Weekly metrics: hit rate, average R, expectancy, max adverse excursion (MAE), and “time-to-+0.5R” by setup.
- Maintain a “mistake ledger”: each rule violation records −0.25R in paper; 3 violations in a week triggers a mandatory size cut next week.
- Screenshot entry, partial, and exit with two-sentence annotations within five minutes of action.
- Monthly kill list: remove the lowest-expectancy tag and replace it with a refined rule or drop it entirely.
Psychology & Routine: Protect the Operator
Samuel builds habits that make discipline automatic. This section gives you a simple routine that reduces noise and decision fatigue.
- Pre-market 12-minute routine: water, posture check, HTF scan, session label, checklist read-aloud.
- Hide PnL and account balance during live decision windows; reveal only after the session.
- After two consecutive losses, take a 20-minute reset; third loss ends the session.
- If sleep < 6 hours or mood < 6/10 (self-rated), cap risk at 0.25R and trade only the primary setup.
- One decision aid only (checklist or flowchart). If it’s not on it, you don’t trade it.
Scaling & Capital Allocation: Grow Without Breaking What Works
Scale is earned, not switched on. These rules help you increase size methodically while keeping drawdowns shallow.
- Increase per-trade risk by +0.1% only after 40-trade samples show positive expectancy and max drawdown < 6R.
- Keep 20–30% of capital in reserve for volatility spikes and platform/liquidity surprises.
- Cap total open risk at 1.5%; a third position requires one existing trade at break-even or partially realized.
- Quarterly stress test: replay your plan through three historic high-vol regimes; if simulated drawdown exceeds limits, reduce risk and tighten rules.
- Diversify by uncorrelated setups or instruments, not by adding more size to the same pattern.
Size Risk First: Fixed Percent, Never Martingale Into Pain
Samuel Palmer treats risk like the master switch—on a fixed percentage, never adjusted mid-trade because feelings changed. He pre-sets a small, constant fraction of equity per idea, so outcomes are measured in R, not dollars, and the math stays clean. Josh Lamonaca echoes the same discipline: decide the loss you can live with before you decide the entry you love. When both traders lock risk first, every subsequent choice—entry, add, or exit—becomes a checklist item, not a negotiation.
Palmer refuses to add to losers; scaling is reserved for trades already proving themselves, and only after structure reconfirms. Lamonaca caps total open risk across correlated themes, making sure one narrative can’t sink the whole book. When volatility widens stops, they shrink size rather than chase the same R with bigger exposure. This way the worst day is pre-defined, survivable, and boring—exactly how pros keep playing long enough for edge to pay.
Let Volatility Decide Position Size, Targets, And Time Stops
Samuel Palmer sizes around the market’s mood, not his own—when ATR and realized range expand, he cuts position size and widens stops; when volatility compresses, he allows slightly larger size with tighter invalidation. He lets average true range inform profit targets too, aiming for multiples of current range instead of arbitrary pips. Josh Lamonaca backs the same idea with a “volatility envelope”: no trade goes on if spread or slippage sits outside that envelope, and targets adjust to the day’s breathing room. In high-volatility regimes they shorten holding time and get paid sooner; in quiet regimes they accept smaller, slower wins.
Palmer uses a rolling volatility lookback to set a time stop—if price hasn’t moved a fraction of ATR within a defined window, he reduces or exits. Lamonaca won’t average to “maintain R”; he shrinks size to keep risk constant when stops must be wider. Both traders treat volatility spikes as a risk event first and an opportunity second, prioritizing survival over hero trades. By letting volatility pick the size, the distance, and the clock, they convert chaos into structured decisions that protect the equity curve.
Diversify By Underlying, Setup, And Holding Period To Smooth PnL
Samuel Palmer spreads risk across different instruments and play types so a bad day in one corner doesn’t drag the whole book. He pairs a trend-continuation setup with a failed-breakout fade, ensuring one thrives when the other struggles. Palmer also mixes intraday clips with occasional swings, so he’s not forced to chase when session volatility dries up. Correlation is checked, not assumed—if two tickers move on the same narrative, he treats them as one risk.
Josh Lamonaca mirrors the approach by rotating focus instead of forcing trades where the market isn’t paying. He limits concurrent positions that share the same driver, cutting size or skipping the second idea entirely. Lamonaca staggers exits—scalps for cash flow, runners for trend—so realized PnL doesn’t hinge on a single outcome. Together, they show that diversification isn’t “more trades”; it’s deliberately mixing underlying, setup, and duration to make the equity curve steadier and your head clearer.
Trade Mechanics Over Predictions: Rules, Triggers, Invalidation, Preplanned Exits
Samuel Palmer doesn’t try to be a macro oracle; he runs a checklist. Before the session, he defines the bias, the exact trigger that puts him in, and the structural line that proves him wrong. If the trigger doesn’t print, he doesn’t “interpret”—he waits. Invalidation sits beyond structure, not a neat pip count, so a single candle can’t bully him out or trap him in. Preplanned exits mean first partials at defined checkpoints and a trailing stop behind swings, not vibes.
Josh Lamonaca follows the same blueprint: build the trade like a mechanic assembles parts, then test it under stress. If spread, slippage, or volatility violates his envelope, he skips the order even when the chart looks perfect. Both traders write the exit logic before entry, so they never ask “what now?” mid-flight. The result is boring on purpose: clean triggers, tight invalidation, and exits that execute like muscle memory—because process beats prediction over a long enough tape.
Prefer Defined Risk Structures; Avoid Unlimited Tail Exposure And Correlation
Samuel Palmer prioritizes trades where the maximum loss is predetermined and small relative to the potential gain. He uses structure-based stops and pre-sized positions to keep downside linear, refusing open-ended exposures that can snowball through slippage and gaps. When an idea requires a wide stop due to volatility, Palmer shrinks size rather than “trusting the story,” keeping the risk capped and the account stable.
Josh Lamonaca echoes this discipline by filtering out setups that stack hidden correlations—same narrative, same driver, different tickers—and treating them as a single risk. He avoids adding to losers, forbids averaging to “fix” R, and cuts overlapping positions when a theme starts dominating the book. Both Palmer and Lamonaca prefer clean, defined-risk structures with clear invalidation and staggered profit-taking, so tail events stay contained and no single narrative can hijack the equity curve.
In the end, Samuel Palmer’s biggest lesson is that results come from systems, not spurts. Across the conversation with Josh Lamonaca, he keeps returning to the same spine: define your edge in plain English, standardize the steps, and hold the line when conditions change. The Menspire playbook—codified consultations, quality control across franchises, and relentless training—maps one-to-one onto trading: build a checklist, make craftsmanship repeatable, and let consistency—not mood—compound. When volatility spikes, he shrinks size instead of stretching stops; when the market is quiet, he accepts smaller, slower wins. That bias toward defined risk and preplanned exits is how you keep the worst day survivable and the next day tradable.
Palmer and Lamonaca also show why diversification and brand discipline matter. They don’t spray effort everywhere; they mix a few complementary “setups” (education, service, content) the way a trader mixes underlying, strategy, and duration to smooth the equity curve. They cap correlation—no one theme can hijack the business—just like a trader caps total open risk across related positions. Most of all, they elevate mechanics over prediction: clean triggers, clear invalidation, and time-based accountability. Treat your trading like they treat Menspire—document the craft, protect the downside, and scale only what proves itself—so you’re still in the chair when the market finally pays you.
