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This interview features Chris Capre—ex-FXCM #1 broker, former hedge-fund trader, and founder of SecondSkies—digging into how neuroscience, meditation, and bio-data meet price action. Recorded as a live session, it’s a candid look at why Capre matters to retail traders: he’s blended 20+ years of market experience with human performance science to build a training approach that targets execution under pressure, not just chart patterns. You’ll hear how he went from early streaks and painful drawdowns to building systems that protect both financial and psychological capital—so you can actually trade your plan when it counts.
In this piece, you’ll learn Capre’s practical playbook: using bio-data and AI to manage performance anxiety in real time, sizing risk so a single mistake can’t trigger a confidence-killing cascade, and building consistency before expanding into more asset classes. We’ll cover his framework for staying in the market ~90% of the time without forcing trades, the role of mentorship and feedback loops (like elite sports), and how to guard your most valuable asset—your confidence. If you’re a beginner aiming for clean execution, or a developing trader wanting peak-state decision-making, you’ll leave with clear steps you can apply in your next session.
Chris Capre Playbook & Strategy: How He Actually Trades
Core Philosophy: Probabilities, Not Predictions
This section lays out how to think like a pro before you even touch the keyboard. The idea is to stop guessing tops and bottoms and start stacking edges—structure, trend, volatility, and execution quality.
- Trade the scenario with the highest confluence of trend + structure + volatility; ignore everything else.
- Define your risk in R (risk units) before the entry; never change it mid-trade.
- Judge yourself by process metrics (did you follow rules?) and expectancy, not single-trade P&L.
- If conditions don’t match your playbook, you do nothing; flat is a position.
Market Structure: How He Reads Price Action
Here’s the quick structure map used to decide if a market is even worth touching. You’ll classify the tape, mark the key levels, and only then consider setups.
- Start on the daily to mark HTF swing highs/lows, prior day/week high/low, and obvious supply/demand zones.
- Drop to the 4H/1H to confirm trend (higher highs/higher lows or lower highs/lower lows).
- If structure is choppy (overlapping candles, alternating wicks, no clean swings), pass—low quality.
- Note volatility regime via ATR relative to its 20-period average; prefer average-to-high volatility.
Setups He Actually Trades
These are the bread-and-butter plays built around trends and levels. Keep the universe small, master the executions, and collect stats.
- Trend Pullback to Value: in uptrends, buy pullbacks to 20EMA/previous swing high turned support (reverse for downtrends).
- Break-and-Retest: wait for a clean break of the HTF level, then enter on the first retest with rejection.
- Failed Break (Reversion Snap): fade failed breakout back into the range when a break can’t hold two bars beyond the level.
- Session VWAP Reclaim (intraday): trade back to VWAP after a decisive reclaim with higher lows/lower highs confirming.
Risk Sizing & “R” Framework
You need sizing rules that protect confidence while keeping you in the game long enough to realize expectancy. This is the backbone of consistency.
- Risk per trade: 0.25%–0.5% of equity until you have 200+ live trade samples; cap daily loss at 1.5R, weekly at 4R.
- Position size = (Account * %Risk) / Stop distance; round size down, never up.
- If you hit the daily stop, you are done; log, decompress, and do a short review.
- Reduce unit risk by 50% after any −4R rolling drawdown; restore only after +4R recovery.
Stops That Respect Volatility
Stops should sit where the trade thesis is invalidated, not where you “feel safe.” Use structure plus volatility so you don’t get wicked out.
- Default stop: below/above the last swing + 0.5×ATR(14) on your execution timeframe.
- For break-and-retests, place the stop beyond the broken level by 1.0×ATR(14) or the nearest failed swing, whichever is farther.
- Never move a stop farther once in the trade; only tighten per a trailing rule.
Entries & Timing Triggers
Your trigger turns a good idea into an actual position. Wait for the price to prove your idea, then execute without hesitation.
- Acceptable triggers: strong rejection wick off your level, engulfing close with trend, inside-bar break in trend direction, or VWAP reclaim/lose with a close.
- Enter on market only if the bar closes with the trigger condition; otherwise, use a limit near the level with predefined invalidation.
- If the trigger hasn’t printed within three bars of the level touch, skip the trade—your timing is off.
Trade Management: Scaling, Trails, and Exits
The goal is to harvest the edge without giving it back. Lock in partials, trail intelligently, and avoid discretionary flip-flops.
- First scale at +1R (25%–33% off); move stop to breakeven only if structure confirms (higher low/lower high forms).
- Trail behind the 20EMA or last swing by 0.5×ATR(14) once price reaches +1.5R; tighten to 0.35×ATR above/below the most recent swing at +2R.
- Full exit when trend structure breaks (LL in an uptrend or HH in a downtrend) on your execution timeframe.
- If you miss a scale, do not chase; follow the next rule-based trail.
Playbook for Different Volatility Regimes
Markets change character; your rules adapt with them. Use ATR to switch gears smoothly.
- Low Vol: halve position size or skip mean-reversion fades; prioritize clean break-and-retests only.
- Average Vol: run standard risk and standard trailing.
- High Vol: cut size by 25% but widen stops by +0.25×ATR; take earlier partials (at +0.8–1.0R).
Intraday Routine (If You Trade Sessions)
Structure your day so you make fewer, better decisions. The routine protects focus and keeps you in execution mode.
- Pre-market (15–20 min): mark HTF levels, session ranges, overnight high/low, and A+ watchlist with scenarios.
- During session: alarms at levels; no chart surfing outside your instruments.
- Post-session (10 min): annotate winners/losers with reasons tagged (setup, timing, management).
Swing Routine (If You Trade Higher Timeframes)
Swing trading uses slower rhythms but the same discipline. You’ll prepare, place, and step back.
- Scan daily after the close for trend + level + ATR filter; set alerts, not constant chart watching.
- Use OCO orders (entry/stop/target) so you don’t micromanage; check twice daily only.
- Weekly: prune laggards, re-rank A+ markets, adjust watchlist to 5–8 instruments max.
Mindset & Performance Under Pressure
Execution quality is a skill you train like an athlete: measure, adjust, repeat. Keep arousal in the performance zone.
- Pre-trade reset: 60–90 seconds of box breathing (4-4-4-4) before placing any order.
- If heart rate or perceived arousal spikes after entry, step away for two minutes; no changes allowed during the cool-off.
- Two mistakes in a row (rule breaks) trigger a session stop and a 5-minute debrief.
Journal, Tags, and Weekly Review
Your journal is a dataset, not a diary. Tagging turns experiences into edge.
- Log each trade with tags: setup, trend state, ATR regime, entry trigger, R multiple achieved, rule errors (Y/N).
- End-of-week: compute win rate, average R, expectancy, time-in-trade; identify top/worst tag combos and drop the bottom one for a week.
- Create a “drill list” of the two most costly errors and run 10 chart replays to rehearse the correct action.
Instruments & Platform Simplicity
Fewer markets, fewer indicators, better outcomes. Keep the chart clean so decisions are fast and repeatable.
- Focus on 4–8 liquid symbols you understand; add a new one only after 50 logged trades on an existing setup.
- Indicators: price action + 20/50EMA, ATR(14), VWAP (intraday). Remove everything else.
- One template per timeframe; identical colors/levels so your brain recognizes patterns instantly.
Risk of Ruin & Drawdown Protocol
Protect the account and your confidence. A small step back now keeps you trading tomorrow.
- Max open risk: never more than 1.0–1.5R across all positions; correlated trades count as one.
- Equity curve rule: if you drop −6R from the peak, trade half-size until you regain +4R.
- Monthly stop: if the month hits −8R before the 20th trading day, stop new trades and switch to study/replay for the remainder.
Continuous Improvement Loop
Edge decays unless you maintain it. Use a tight loop to keep sharpening.
- Each Friday, pick one micro-skill to improve next week (e.g., “only enter on inside-bar breaks at HTF levels”).
- Run 20 chart replays on that micro-skill and record hit rate and average R before going live on Monday.
- Archive updated screenshots of A+ examples into a personal playbook you review before each session.
Building a Real Trading Edge With Price Action and Probability
Chris Capre explains that edge isn’t a hunch; it’s a repeatable process grounded in structure, trend, and statistics. He reads swing highs and lows first, then asks whether momentum and volatility actually support continuation before acting. Instead of guessing tops or bottoms, he waits for the price to confirm his idea at a level he’s mapped in advance.
Capre keeps every decision tied to probability: what happens most often after this pattern at this level in this volatility regime. He defines risk in R before entry and judges success by expectancy, not single-trade outcomes. By combining price action with strict validation—engulfing closes, retests, or failed breaks—he turns good-looking charts into trades with measurable odds.
Risk in “R”: How to Size So One Trade Never Kills You
Chris Capre frames every position in risk units—R—so sizing becomes math, not emotion. He sets the stop first, calculates position from the chosen R, and refuses to nudge a wider stop after entry. A typical approach is risking a small fixed fraction per trade, then capping the day at a limited total R to protect confidence. If the structure looks messy or ATR spikes beyond his playbook range, he simply reduces R or skips the trade.
Capre also runs a clear drawdown protocol to keep losses small and recoverable. After a string of losing trades or a defined negative R threshold, he halves unit risk until performance stabilizes. He restores full size only after logging a clean, rule-following recovery in positive R. This way, account survival and execution quality stay intact while the statistics of the strategy play out.
Volatility Filters and Session Context to Pick Only High-Quality Setups
Chris Capre first checks volatility because it determines whether a setup even deserves attention. He uses ATR and recent range behavior to label the regime and align stop width and targets accordingly. If ATR is compressed or candles overlap, he downgrades the setup or passes. When volatility expands and structure is clean, he looks for pullbacks or break-and-retests that historically perform best in that regime.
Capre also keys off session context—who’s active and when. He treats London open, New York open, and post-news windows differently, favoring levels and VWAP reactions that tend to hold during those flows. If the market drifts into lunch hours or pre-event chop, he stands down rather than force marginal trades. By marrying volatility filters with session rhythm, he narrows his focus to A-quality opportunities and avoids death by a thousand low-odds clicks.
Execution Over Prediction: Triggers, Retests, and Managing the Trade Live
Chris Capre emphasizes that prediction is optional, execution is mandatory. He waits for a clear trigger—engulfing close, inside-bar break, or strong rejection at a mapped level—before pulling the trigger. If price breaks a key level, he prefers the retest to prove it can hold, not just a one-bar spike. When the trigger prints, he executes without hesitation because the decision-making work was already done.
Live management is rules-driven, not reactive. Capre scales a portion at +1R when structure confirms and then trails behind swings or a short EMA to stay with momentum. If structure breaks—lower low in an uptrend or higher high in a downtrend—he exits rather than negotiate with the market. Missed entry or missed scale? He doesn’t chase; he resets and waits for the next valid trigger.
Process Discipline and Performance Habits to Stay Consistent Like a Pro
Chris Capre treats trading like a sport: routines, metrics, and recovery protocols. He starts with a short pre-market checklist—levels, scenarios, risk per trade—and a one-minute breathing reset before any order. After entries, he protects focus by avoiding chart-surfing and sticking to his watchlist rules. If he breaks two rules in a session, he stops trading and debriefs immediately. The goal is to preserve confidence as the primary asset, not to squeeze one more marginal trade.
Capre’s journaling is data-first: every trade gets tags for setup, volatility regime, trigger type, and R result. Each week, he reviews expectancy by tag and drops the worst offender for seven days to clean the playbook. He rehearses A+ examples with chart replays so execution feels automatic during live flows. When drawdown hits, he reduces size, increases review frequency, and focuses on one setup until metrics normalize. Consistency is built by these small habits executed relentlessly, not by finding a mythical perfect indicator.
Chris Capre’s core message is simple: stop guessing and start executing a repeatable edge. He marries price action with probability, then backs it with performance science—breath control, awareness of arousal, and real-time bio-feedback—to keep decisions clean when money is on the line. You map structure on higher timeframes, wait for your trigger at the level, size in, R, so a single mistake can’t nuke your month, and let the stats play out. When volatility is thin or your physiology drifts into a sub-optimal state, you stand down; edge is as much about the trades you skip as the ones you take.
Capre also pushes breadth with discipline: rotate across asset classes so you can be in the market when opportunity rotates, but keep the playbook tight—pullbacks, break-and-retests, and failed breaks you’ve actually logged and tested. Use ATR and session context to filter quality, scale at logical milestones, and trail behind structure instead of vibes. Journal like an athlete, tag every trade, and run weekly reviews to drop your worst offenders and drill your best setups. In short, Chris Capre’s “secret sauce” isn’t a magical indicator—it’s a system that fuses rules, risk math, volatility awareness, and state management so you can trade consistently for years, not weeks.
