Level 4: Execution & Discipline

Pierce & Pierce Academy

⏱️ Total time: ~2.5 hours across 6 modules
🔒 Access: Insider subscription required ($99/month)
🚧 Status: Coming Q1 2025

What You'll Learn in Level 4

You can analyze markets institutionally. But can you act on your analysis without emotional override?

Level 4 teaches execution discipline—the difference between knowing what to do and actually doing it.

Most traders fail not because they can't analyze markets, but because they:

Size positions emotionally (too big on FOMO, too small on conviction)
Enter at worst times (chasing pumps, panic selling dips)
Hold losers too long (hoping they come back)
Cut winners too early (locking in small gains, missing big moves)
Revenge trade after losses (trying to "get even")
Ignore their own analysis (override systematic process with gut feel)

Institutions don't have these problems. They use frameworks.

By the end of Level 4:

✅ You'll size positions based on conviction × regime × volatility (not gut feel)
✅ You'll enter after exhaustion signals (not during FOMO pumps)
✅ You'll cut losses systematically (before they become catastrophic)
✅ You'll avoid 90% of behavioral mistakes retail traders make
✅ You'll run a complete institutional trading workflow (analysis → execution → review)

This is where analytical skill becomes actual results.

Prerequisites

You must complete Levels 1-3 before starting Level 4.

Level 4 assumes you can:

Think about markets institutionally (Level 1: mental models)
Read and interpret signals (Level 2: data interpretation)
Synthesize signals into market view (Level 3: analytical frameworks)

Level 4 teaches you to act on that market view systematically.

If you haven't completed Level 3 yet: Go to Level 3 →

Access Level 4

Level 4 is coming Q1 2025.

Level 4 requires Insider subscription ($99/month).

Insider subscription includes:

Levels 1-3 (18 modules, complete analytical training)
Level 4 (6 modules, execution discipline) — Coming Q1 2025
All future modules as they're released (no additional cost)
Market briefs (Mon/Wed/Fri)
Token research reports

Upgrade to Insider ($99/month) →

Already an Insider subscriber? You'll get automatic access when Level 4 launches.

The 6 Execution Frameworks (Coming Q1 2025)

Module 19: Position Sizing Frameworks

⏱️ 25 minutes | Coming Q1 2025

What you'll learn:
How to translate conviction levels (7/10 bullish) into position sizes. Learn Kelly Criterion, risk parity, and volatility-adjusted sizing that institutions use.

Key questions you'll be able to answer:

How much should you allocate to a 6/10 conviction trade vs 9/10 conviction trade?
How do you adjust size based on regime (bull vs bear vs sideways)?
Why do institutions size by volatility (not just conviction)?

What you'll be able to do:

Use Kelly Criterion for optimal position sizing
Adjust size based on conviction score (from Level 3 composite framework)
Scale size by volatility (VIX, realized vol, regime context)
Avoid over-sizing (the #1 killer of retail traders)

Framework preview:

Position Size = f(Conviction, Volatility, Regime, Portfolio Context)

Base Allocation by Conviction:
├─ 9-10/10 conviction = 15-20% of portfolio
├─ 7-8/10 conviction = 10-15% of portfolio
├─ 5-6/10 conviction = 5-10% of portfolio
└─ <5/10 conviction = 0% (don't trade low conviction)

Volatility Adjustment:
├─ Low vol regime (VIX <15) = +25% to base size
├─ Normal vol (VIX 15-25) = Base size
└─ High vol regime (VIX >25) = -50% to base size

Example: 8/10 conviction in high vol regime
→ Base: 12.5% → Vol-adjusted: 6.25%

Module 20: Entry & Exit Discipline

⏱️ 25 minutes | Coming Q1 2025

What you'll learn:
How to enter positions during forced flow exhaustion (not mid-cascade). How to exit systematically (not emotionally). Pre-commitment strategies that work.

Key questions you'll be able to answer:

When is a dip "buy the dip" vs "don't catch falling knife"?
How do you identify forced selling exhaustion (optimal entry)?
Why do pre-committed exits work better than discretionary exits?

What you'll be able to do:

Identify exhaustion signals (from Level 2 liquidation cascade framework)
Enter systematically (after exhaustion, not during panic)
Set pre-committed exits (take-profit levels, stop-losses)
Avoid FOMO entries (the most expensive mistake retail makes)

Framework preview:

Entry Checklist (All must be YES):
□ Composite score supports direction (≥7/10 for longs)
□ Exhaustion signal present (liquidations complete, funding reset, volume spike)
□ Regime appropriate (don't buy dip in markdown regime)
□ Position size calculated (conviction × volatility adjustment)
□ Exit plan defined (take-profit levels, stop-loss, invalidation)

Exit Framework:
├─ Mechanical stop: -10% from entry (no exceptions)
├─ Invalidation stop: Key thesis broken (e.g., funding reverses, ETF outflows begin)
├─ Take-profit: Scale out at 20%, 40%, let 30-40% run
└─ Regime change: Exit if regime shifts (e.g., risk-on → risk-off)

Module 21: Drawdown Management

⏱️ 25 minutes | Coming Q1 2025

What you'll learn:
What to do when you're wrong. How institutions cut losses without panic. The 3-tier drawdown protocol (monitoring → response → recovery).

Key questions you'll be able to answer:

When should you cut losses vs when should you hold through drawdown?
How do you prevent small losses from becoming portfolio-destroying losses?
Why do institutions have drawdown protocols (not discretionary decisions)?

What you'll be able to do:

Implement 3-tier drawdown protocol (-5%, -10%, -15% triggers)
Distinguish normal drawdown from thesis invalidation
Scale down size after losses (not up—no revenge trading)
Recover systematically (not emotionally)

Framework preview:

3-Tier Drawdown Protocol:

Tier 1: -5% Portfolio Drawdown (Yellow Alert)
├─ Action: Review all positions
├─ Question: Is thesis still valid?
├─ Response: Cut positions with invalidated thesis
└─ Continue: Positions with intact thesis

Tier 2: -10% Portfolio Drawdown (Orange Alert)
├─ Action: Cut all position sizes by 50%
├─ Question: Is this regime-driven or stock-specific?
├─ Response: If regime-driven (risk-off), move to cash
└─ Continue: Rebuild slowly as signals improve

Tier 3: -15% Portfolio Drawdown (Red Alert)
├─ Action: Move to 100% cash
├─ Question: What went wrong systematically?
├─ Response: 2-week trading pause, full process review
└─ Recovery: Restart with 50% normal size for 1 month

Module 22: Avoiding Behavioral Traps

⏱️ 25 minutes | Coming Q1 2025

What you'll learn:
FOMO, revenge trading, anchoring bias, confirmation bias. Learn the institutional checklist system that prevents emotional trading.

Key questions you'll be able to answer:

Why do you buy tops and sell bottoms (and how to stop)?
How do institutions avoid FOMO (they use systematic filters)?
Why does "following your gut" lose money systematically?

What you'll be able to do:

Recognize behavioral traps in real-time (before acting on them)
Use pre-commitment devices (checklists, forced delays)
Distinguish conviction from FOMO (one has analysis, one doesn't)
Implement cooling-off periods (24-hour rule for emotional trades)

Common traps + institutional fixes:

Trap #1: FOMO (Fear of Missing Out)
Symptom: See +20% pump, feel compelled to buy
Fix: 24-hour rule (if still compelling tomorrow after analysis, consider)

Trap #2: Revenge Trading
Symptom: Take loss, immediately open new position to "get it back"
Fix: Mandatory 48-hour pause after any loss >5%

Trap #3: Anchoring Bias
Symptom: "I bought at $50k, so I'll sell when it gets back to $50k"
Fix: Ignore entry price, make decisions based on current analysis

Trap #4: Confirmation Bias
Symptom: Only read analysis that confirms your position
Fix: Mandatory devil's advocate (write bearish case for longs, bullish case for shorts)

Trap #5: Recency Bias
Symptom: "Last 3 dips were buyable, so this one is too"
Fix: Regime check (are we still in same regime as last 3 dips?)

Module 23: Building a Trading Journal

⏱️ 20 minutes | Coming Q1 2025

What you'll learn:
How to track decisions (not just outcomes). The post-trade review framework that compounds learning. Template provided.

Key questions you'll be able to answer:

Why did that trade win/lose (luck or skill)?
What patterns emerge in your winning vs losing trades?
How do institutions learn from every trade (not just the big wins/losses)?

What you'll be able to do:

Document trade thesis before entry (pre-commitment)
Track execution quality (did you follow your plan?)
Review outcomes vs thesis (was analysis right but timing wrong?)
Identify systematic mistakes (patterns in your errors)

Journal structure:

Pre-Trade (Before Entry):
├─ Composite score: X/10
├─ Key supporting signals: (list 3-5)
├─ Conviction level: X/10
├─ Position size: X% (formula used)
├─ Entry price: $X
├─ Exit plan: Take-profit at $Y, stop at $Z, invalidation if [condition]
└─ One-sentence thesis: "Why I'm entering this trade"

During Trade:
├─ Daily check: Is thesis still valid? Any new conflicting signals?
├─ Regime changes: Note if risk-on/risk-off shifts
└─ Emotional state: Note if feeling FOMO, fear, or confident

Post-Trade (After Exit):
├─ Exit price: $X
├─ Return: +X% or -X%
├─ Exit reason: [Mechanical stop / Invalidation / Take-profit / Regime shift]
├─ Execution quality: Did I follow my plan? (Yes/No + explanation)
├─ Analysis accuracy: Was my thesis correct? What did I miss?
└─ Key learning: One sentence on what this trade taught me

Monthly Review:
├─ Win rate: X% (but also: were wins bigger than losses?)
├─ Best trade: Why did it work?
├─ Worst trade: What went wrong?
├─ Systematic patterns: Do I have recurring mistakes?
└─ Process improvements: What will I change next month?

Template provided: Google Sheets trading journal with formulas

Module 24: Advanced Integration

⏱️ 30 minutes | Coming Q1 2025

What you'll learn:
Putting it all together: Daily routine, weekly review, monthly performance analysis. The complete institutional workflow.

Key questions you'll be able to answer:

What's the minimum viable daily routine for institutional-quality analysis?
How do you balance analysis (Levels 1-3) with execution (Level 4)?
What does a complete institutional trading workflow look like?

What you'll be able to do:

Run complete daily workflow (10 min analysis + 5 min execution review)
Execute weekly deep review (30 min synthesis + portfolio adjustment)
Conduct monthly performance analysis (what worked, what didn't, what to change)
Maintain discipline through winning and losing streaks

Complete institutional workflow:

Daily Routine (15 minutes):
├─ Analysis (10 min)
│   ├─ Update dashboard (from Level 3 Module 18)
│   ├─ Check key signals (ETF flows, funding, reserves)
│   └─ Update composite score
└─ Execution Review (5 min)
    ├─ Check open positions (is thesis still valid?)
    ├─ Check for exhaustion signals (new entry opportunities?)
    └─ Update trading journal (any position changes?)

Weekly Review (60 minutes):
├─ Deep Analysis (30 min)
│   ├─ Regime assessment (are we transitioning?)
│   ├─ Correlation analysis (BTC-alts, crypto-equities)
│   ├─ Next week's key events (Fed, earnings, unlocks)
│   └─ One-paragraph synthesis (market view for next week)
└─ Portfolio Review (30 min)
    ├─ Position performance (any need to cut/add?)
    ├─ Drawdown check (are we in Tier 1/2/3?)
    ├─ Execution quality (did I follow plans this week?)
    └─ Next week's plan (specific trades I'm watching)

Monthly Review (2 hours):
├─ Performance Analysis (1 hour)
│   ├─ Return vs drawdown (am I taking appropriate risk?)
│   ├─ Win rate and win/loss size (are wins bigger than losses?)
│   ├─ Best/worst trades (what worked, what didn't?)
│   └─ Systematic patterns (recurring mistakes?)
└─ Process Improvement (1 hour)
    ├─ What did I do well? (reinforce)
    ├─ What did I do poorly? (fix)
    ├─ What will I change next month? (specific, measurable)
    └─ Update frameworks based on learnings

After Level 4: What's Next?

You now have complete institutional-grade training.

You can:

Think about markets correctly (Level 1: mental models)
Read and interpret signals (Level 2: data interpretation)
Synthesize signals into market view (Level 3: frameworks)
Execute systematically without emotional override (Level 4: discipline)

This is the complete package. What comes next is application.

As an Insider subscriber, you continue to receive:

Market briefs (Mon/Wed/Fri)
Token research reports
All future modules as they're released (no additional cost)

Welcome to the top tier of retail crypto market analysis.

Frequently Asked Questions

When exactly does Level 4 launch?

Target: Q1 2025 (January-March 2025)

We're building Level 4 to meet the same institutional standards as Levels 1-3. Insider subscribers will get automatic access when it launches.

What if I'm not ready for Level 4 yet?

Perfect. That's why we built progressive levels.

If you haven't started: Begin with Level 1 (Free) →
If you're on Level 1: Continue to Level 2 →
If you're on Level 2: Continue to Level 3 →
If you've completed Levels 1-3: You're ready for Level 4 when it launches

Level 4 will be there when you're ready.

Do I need Insider subscription now or can I wait?

You can wait until Level 4 launches.

Right now, Analyst subscription ($29/month) gives you Levels 1-3 (18 modules). That's 6-7 hours of content and practice.

Upgrade to Insider ($99/month) when:

You've completed Levels 1-3 and want Level 4 training
You want all future modules at no additional cost

Current benefits comparison:

Analyst ($29/month):

Levels 1-3 (18 modules)
Market briefs (Mon/Wed/Fri)
Token research reports

Insider ($99/month):

Everything in Analyst, plus:
Level 4 (6 modules, coming Q1 2025)
All future modules (no additional cost)

Upgrade to Insider ($99/month) →

Will Level 4 include live trading examples?

No. Level 4 teaches frameworks, not trading signals.

We'll teach:

How to size positions (the formula)
How to identify entry points (exhaustion signals)
How to manage drawdowns (the protocol)

We will NOT give:

"Buy Bitcoin here" signals
Real-time trade alerts
Portfolio management advice

We teach you the system. You apply it.

Can I upgrade from Analyst to Insider anytime?

Yes. Upgrade anytime, cancel anytime.

Both subscriptions are month-to-month. No contracts.

Upgrade to Insider ($99/month) →

Not an Insider Subscriber Yet?

Level 4 requires Insider subscription ($99/month).

What you get:

Levels 1-3 (18 modules, complete analytical training) — Available now
Level 4 (6 modules, execution discipline) — Coming Q1 2025
All future modules as they're released
Market briefs (Mon/Wed/Fri)
Token research reports

Upgrade to Insider ($99/month) →

Or start with Analyst ($29/month) and upgrade later:

Start with Analyst ($29/month) →

Pierce & Pierce Academy
Professional-grade market analysis education for serious retail investors

Questions about Level 4? Email: academy@pierce-pierce.com