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Mandi Pour Rafsendjani joins for a candid, Q&A-style deep dive into trading performance and psychology. She’s a Melbourne-based DAX (DE40) day trader and long-time trading coach who sharpened her edge by profiling institutional pros and learning how they think under pressure. In this conversation, Mandi explains why her statistics pushed her away from FX for a while, how fundamentals and cross-market correlations filled a missing piece, and why retail traders struggle without benchmarks, checklists, and a high-performance environment.
You’ll learn a practical framework to separate a strategy problem from a mindset problem, reframe “taking a loss” into protecting capital, and use stats to kill the ego-driven chase for 90% win rates. Mandi breaks down the habits she sees in millionaire traders—process over feelings, weekly goals, open debate, and relentless curiosity—and shows how to copy that edge as a retail trader with simple tracking, clearer exits, and deliberate practice that builds self-trust. By the end, you’ll know exactly what to fix this week and how to measure it so your trading stops depending on your mood and starts running on rules.
Mandi Pour Rafsendjani Playbook & Strategy: How She Actually Trades
Risk First, Always
Before chasing setups, Mandi frames every decision around capital protection. This section shows how she boxes in risk so a single trade never threatens the week, and how she sizes positions to keep her head clear and execution clean. Follow these rules to make risk a boring constant and your edge the only variable.
- Risk a fixed fraction of equity per trade (e.g., 0.25%–0.5%) and never exceed 1% under any circumstance.
- Place the stop where the trade thesis is invalidated, not at a random distance; if that’s too far, skip the trade.
- Use volatility-adjusted position sizing: size = (risk per trade) ÷ (stop distance in points × instrument value).
- Hard-stop every position in the platform; no “mental stops.”
- Cap total open risk: maximum portfolio heat ≤ 1.5%–2% of equity.
- If you suffer 3 consecutive losses in a session, stop trading and switch to review mode.
- Predefine “catastrophe rules”: news spikes, platform issues, or abnormal spread → flatten first, explain later.
Market Focus & Session Structure
Mandi favors a small universe and consistent hours to reduce noise and decision fatigue. Here’s how to pick your markets and structure your day so you catch the best flow without chasing.
- Specialize in 1–2 primary instruments whose rhythm you know (e.g., DE40/DAX index or your main futures/FX pair).
- Trade during the instrument’s most liquid sessions only; outside liquidity windows = no new risk.
- Block your day: 30–45m premarket prep, 2–3h focused execution window, 20m debrief.
- Define “no-trade” days up front (major central bank days if you don’t trade news, holidays with thin liquidity).
- Keep a calendar of recurring catalysts (opens, closes, data releases); plan A/B responses for each.
Premarket Prep & Bias Building
A clear premarket read keeps your execution fast and unemotional. This is how Mandi frames context with just enough information to act, not overthink.
- Mark higher-timeframe structure first: prior day high/low, weekly high/low, value areas, key swing levels.
- Log overnight range and ADR/ATR; if range is compressed, expansion plan; if expanded, plan for mean reversion.
- Note 2–3 scenarios only (trend, range, squeeze); write the trigger that proves each one likely.
- Pre-identify “trade locations”: levels where you will act without hesitation if your trigger appears.
- If bias is unclear after prep, reduce the size by 50% or stand aside until the first hour resolves.
Entry Triggers You Can Execute
Entries must be simple enough to execute consistently at speed. These rules define the exact cues Mandi looks for so you can press the button without second-guessing.
- Only trade when location + trigger align (e.g., retest of premarked level + rejection wick + delta shift or momentum break).
- Wait for confirmation on your chosen timeframe (e.g., 1–5m close through level or failed break and reclaim).
- Enter on the first clean confirmation; if you miss it, do not chase—allow one planned pullback entry only.
- For trades against the immediate impulse, require additional confluence (divergence, absorption, failed breakout).
- If the spread widens beyond your pre-set limit or slippage exceeds 0.3R, skip the entry.
Stop Placement & Initial Targeting
Your stop and first target define the whole trade profile before you click. This section gives you mechanical placement so you can calculate size and accept outcomes upfront.
- Place stops beyond structure that invalidates the idea (e.g., beyond swing high/low or volume node), not “x ticks.”
- First target at 1R or nearest opposing structure—whichever comes first.
- If price stalls before 0.8R, scratch at breakeven minus costs on the first sign of failure.
- For trend trades, trail under/over last confirmed swing once 1R is hit; scale 50% at 1R, let 50% run.
- No widening stops. If you want more room, you must reduce the size before entry.
Trade Management In Real Time
Once in the trade, Mandi shifts from prediction to risk control and execution. Use these guardrails to avoid the common “hold and hope” drift.
- Convert to “if-then” statements: “If price closes back inside level, then reduce 50%” instead of subjective feelings.
- If the thesis changes (e.g., structural break against you), exit immediately—do not negotiate.
- Move stop to breakeven only after a structural shift in your favor (e.g., higher low after breakout, not just +0.5R).
- Limit total trade actions: max 3 decisions per trade (initial, scale, trail) to avoid over-managing.
- If you speak out loud while trading, keep a one-line mantra: “Protect risk, trade plan, accept outcomes.”
Psychology: Building Self-Trust On Purpose
Mandi’s edge grows from habits that reduce cognitive load and emotional noise. These rules help you perform like a pro even on average days.
- Pre-commit to process goals for the session (e.g., “journal every trade within 5 minutes; no second entries without reason”).
- Use a checklist at entry that fits on one screen; if any box is unchecked, pass.
- After a loss, tag the emotion but act by rule: no revenge trades, 10 deep breaths, re-read scenario plan.
- Define “acceptable loss” language: you didn’t “lose,” you “paid 0.4% to test a valid edge at a valid location.”
- Protect energy: 90-minute focus blocks, then a 5-minute walk; fatigue trades are auto-disqualified.
Statistics, Journaling & Review
Pros don’t guess; they measure. Here’s how to run the feedback loop that upgrades your edge weekly.
- Track R-multiple, win rate, expectancy, average adverse excursion, and time-in-trade.
- Separate data by setup type and session window; kill or downsize the lowest-expectancy combinations.
- Weekly review: export top 10 winners/losers, identify common entry location and management patterns.
- Turn every repeated mistake into a rule you can obey (e.g., “No counter-trend trades in first 15 minutes”).
- If expectancy drops two weeks in a row, cut risk by 50% until stats stabilize.
News, Volatility & Correlations
Context can flip risk in seconds. This is how Mandi filters macro and cross-market signals without drowning in information.
- Know today’s tier-1 releases and the 15-minute windows around them; either flatten or use half size during those windows.
- Use a simple volatility gate: if current ATR > 1.5× 20-day ATR, halve size and widen stops proportionally (pre-planned).
- For indices/FX, watch one or two confirming instruments (e.g., US yields, EURUSD when trading DAX) for risk-on/off tells.
- If correlated instruments diverge from your thesis, scale down or scratch early—don’t argue with flow.
Playbook Setups (Template)
A playbook turns ideas into repeatable money. Below are templates you can adapt; fill with your instrument’s levels.
- Range Fade at Premarked Extremes
- Location: prior day high/low or weekly VWAP bands.
- Trigger: rejection wick + momentum slow + failed follow-through.
- Management: scale 50% at mean, trail remainder to opposite band; cancel on clean acceptance beyond level.
- Trend Continuation After Pullback
- Location: reclaim of breakout level or pullback to rising/falling VWAP.
- Trigger: higher low/lower high + close back with impulse.
- Management: partial at 1R, trail under/over last swing; add only on fresh confirmation.
- Failed Break Reversal
- Location: breakout beyond prior high/low that immediately stuffs back in range.
- Trigger: inside bar close + delta flip/absorption sign.
- Management: tight initial stop beyond failure wick; scale aggressively at first structure.
Weekly Planning & Environment
Edge compounds when your environment supports discipline. Use this to turn one good day into a consistent month.
- Choose one improvement theme per week (e.g., “exits at structure,” “halve risk after 2 losses”).
- Pre-write three scenarios for the week with exact levels and triggers; keep them visible while trading.
- Set a weekly loss limit (e.g., 3R or 2%); if hit, stop new risk and conduct a deep dive the next morning.
- Hold a 15-minute Friday review: update playbook, archive screenshots, and write one new rule you’ll actually obey next week.
Implementation Checklist (Do This Today)
Small actions create momentum. This final section gives you immediate steps to put the playbook to work right now.
- Print a one-page entry checklist and tape it next to your screen.
- Hard-code default risk, max portfolio heat, and platform hard-stops.
- Pick one setup and trade it exclusively for 20 trades; track expectancy before adding a second setup.
- Create a “flatten fast” hotkey and practice it three times in the sim before the session.
- Schedule your premarket (30m), execution block, and debrief as calendar events so they happen by default.
Size risk first, so one bad trade never sinks you.
Mandi Pour Rafsendjani starts every trade by pricing the worst-case outcome before thinking about profit. She treats risk like rent—paid upfront, predictable, and never allowed to spike just because a setup “looks good.” That’s why her default is a small, fixed fraction of equity per idea, adjusted only when volatility demands it. The goal is simple: protect decision quality so one loser never hijacks the week.
In practice, Mandi anchors size to the stop at thesis invalidation, then back-solves the position so the loss equals her preset fraction. If the stop needs to be wider than usual, she cuts the size instead of “hoping” a tighter risk will survive noise. She also caps total portfolio heat, so multiple open trades cannot compound into a damaging drawdown. After two or three consecutive losses, she halves risk or pauses entirely, proving the edge with fresh data before returning to full size.
Use volatility-based position sizing to stay calm and consistent
Mandi Pour Rafsendjani sizes trades to the market, not her mood. When volatility expands, she automatically reduces position size so the same stop distance still risks the same small fraction of equity. When volatility contracts, she can step up size modestly without changing her risk per trade.
She measures recent range (ATR or average true range works) and converts it into a stop distance that sits beyond normal noise. Position size is then back-solved: risk per trade divided by stop value equals units to trade. This keeps her R consistent across calm and wild days, so execution feels the same. If spreads widen or slippage rises, Mandi trims size again—because the goal is stable decision-making, not maxing out exposure.
Diversify by underlying, strategy, and time to smooth the equity curve.
Mandi Pour Rafsendjani keeps drawdowns manageable by spreading risk across different instruments, setups, and holding periods. She doesn’t rely on one “hero” trade; she runs a small mix—trend continuation, failed break reversals, and range fades—so if one goes cold, another can still pay. Rotating attention across a couple of uncorrelated markets further reduces equity lumpiness, especially when one index or currency pair is choppy.
She also staggers time frames, pairing quick intraday opportunities with selective swing holds to avoid being trapped by a single market regime. Each slice has its own rules, risk, and review, so mistakes don’t infect the whole book. Mandi treats exposure like a soundboard: if volatility spikes in one area, she lowers that channel and lets others play. The result is fewer emotional swings, steadier stats, and a smoother curve that keeps her focused on the process instead of P&L.
Trade mechanics over prediction: define triggers, stops, and exits
Mandi Pour Rafsendjani treats predictions as noise and mechanics as the job. She predefines a trigger that must print at a location she marked premarket, then executes without second-guessing. The stop sits where the idea is objectively wrong—not “a few ticks”—so size is back-solved before entry. If the trigger doesn’t appear exactly as specified, she passes and preserves focus for the next clean shot.
Her plan includes the first scale, the active management rule, and the exit condition before she clicks buy or sell. If price reclaims her invalidation level, she’s out immediately; if it hits 1R or the first opposing structure, she scales per plan and trails behind fresh structure. When she misses the A+ entry, she allows one planned pullback entry only—no chasing, no improvisation. By reducing the session to a series of if-then statements, Mandi turns trading into execution practice instead of fortune-telling.
Build process discipline with checklists, benchmarks, and weekly reviews.
Mandi Pour Rafsendjani runs her trading like a sport: every session starts with a tight checklist and ends with a measurable score. She benchmarks process, not just P&L—entries taken at planned locations, stops honored, management rules followed. If a rule is broken, it becomes a highlighted task for the next session, not a story to rationalize. The aim is fewer decisions, cleaner repetitions, and a repeatable routine that works even on average days.
Her weekly review is simple and unforgiving: export trades, group by setup, and keep only what shows positive expectancy. She tags mistakes by category—late entry, chasing, moving stops—and writes one new constraint she’ll actually obey next week. Mandi also caps weekly loss and session decisions to prevent fatigue from erasing discipline. Over time, this loop hardwires self-trust, so execution stays steady while the market changes.
In the end, Mandi Pour Rafsendjani’s edge isn’t a mystery indicator—it’s a system that makes good decisions easier and bad decisions rarer. She puts risk first and prices the worst-case outcome before she thinks about profit, then lets volatility dictate size so each trade risks the same small fraction, no matter how wild the day feels. She narrows her focus to a few instruments and a tight session, builds a simple premarket plan with clear scenarios, and only trades when location and trigger align. Stops live where the idea is wrong, first targets are defined, and management is reduced to if–then rules so execution stays clean.
What ties it together is discipline you can measure. Mandi journals hard stats, reviews winners and losers by setup, and prunes anything that drags expectancy. She diversifies by underlying, strategy type, and time horizon to smooth the curve—and when volatility, spreads, or emotions spike, she cuts size or stands down without drama. If you copy just a few habits this week—fixed risk per trade, volatility-based sizing, premarked levels with one trigger, and a Friday review with one new rule—you’ll feel the same shift Mandi keeps pointing to: less noise, steadier execution, and a playbook that actually compounds.
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