Derek

Trader | Hybrid Athlete | Thinker — Chasing Self-Mastery 💡

Mentored by @arjoio | Part of @MMTTrading & @pipback_com

[Derek @Derek_Tradez]

The trading book that changed my mindset...

and my favorite lessons from it.

A Market Wizards thread 🧵

(free book tracking Notion at the end)

[Derek @Derek_Tradez]

2R + a runner as early as London session on a Monday with no news...

Meanwhile, people still wait for high-impact news events on the calendar, or for FOMC, which is in 2 days.

If price action is volatile enough to be traded, you'll be able to tell. You'll be able to tell if it's consolidating as well.

Both can happen with or without news, so adapt to the changing conditions.

[Arjo @arjoio]

This has to be one of the worst rules I've ever seen; they're not even hiding it anymore.

Someone sent me this; it's from the 5ers, a CFD firm.

So what do you do if Gold or the Indices are just trending up? Do you sell to make sure you're not getting banned? What?

[Derek @Derek_Tradez]

It's been a minute since the last newsletter✌️🏻

https://t.co/BMpYEMdQMU

[DR22 Ω 🪬🎭 @DejaRu22]

You need to be talking to strangers.

By not doing so, you are greatly diminishing your capacity for luck, serendipity, and synchronicity to occur in your life.

As you raise your frequency and increase your level of consciousness… you will find that more and more, you will “just happen” to “randomly” bump into the exact kind of people you needed to meet.

Complete strangers will reveal themselves in miraculous ways. But the catch is that you have to talk to them. Life has a hilarious way of making this work time and time again.

Real ones can attest to this being fact.

EVERY SINGLE PERSON that you hold dear to your heart, were at one point complete strangers that you decided to take a chance on, and get to know…

And the odds of your paths crossing… were next to impossible.

If you consider the weight of the entire life trajectories of both parties. It’s a miracle that your realities happened to align in the same point in space and time.

However, because it actually DID happen, and that you ACTUALLY happened to meet them… IT WAS FATED FROM THE BEGINNING; the probability was always going to be 100%. Ya dig?

The paradox of choice, free will, and determinism.

Be glad you met the people you adore and love, because it was both an impossible event, yet one forever destined (and pre-arranged ;-) )to take place.

[Derek @Derek_Tradez]

Never about being perfect, just about being better than yesterday.

[Derek @Derek_Tradez]

This is not an AI summary. These are my entire handpicked notes from The Mental Game of Trading by Jared Tendler.

All actionable steps systemized, important images included, etc.

https://t.co/KyVEdqeFQe

This book is a must-read if you're a trader. But it's a very hard read, in my opinion.

[Derek @Derek_Tradez]

@AkashGWaghmare7 Hello mate! DMed you :)

[Derek @Derek_Tradez]

The trading book that changed my mindset...

and my favorite lessons from it.

A Market Wizards thread 🧵

(free book tracking Notion at the end)

[Derek @Derek_Tradez]

@_DidZW Man, I used to fill up my gas tank for ~€73, yesterday it cost €98 and I'm like "wait what" 😭

[Derek @Derek_Tradez]

I see CFD firms restricting accounts left and right now.

Reducing leverage, applying a daily risk limit, a risk per trade limit... Just because you got a few payouts.

All steps in the wrong direction, in my opinion.

Futures firms have been taking all the right steps recently. Improved rules, bigger choice of challenges, removing all pesky affiliates and focusing on a few quality affiliate partners.

I think it's time to make the switch for good.

[Derek @Derek_Tradez]

The markets are anything but efficient, they’re not rational.

They are driven by humans and if there’s something humans are not, it’s rational or logical when exposed to stress.

[Derek @Derek_Tradez]

@DalalStreetBets @PipBack_com It clearly means that you are sent a legal letter that you could be sued if you even try to complain or mention something about a rule, which was intentionally placed in a difficult to find place to make trading with said firm even harder.

[Derek @Derek_Tradez]

Alright, it seems most of you voted that you're struggling with psychology. But this is a common mistake I wanted to address.

A lot of people think their problem is psychology, but they have not proven that they even have an edge to begin with.

They trade a random trading strategy, and think it automatically gives them an edge.

But my question is, do you have data to back your claims that you do have an edge?

[Derek @Derek_Tradez]

@isaacthequach How does the random photo of a car contribute to your otherwise worthless post?

[Derek @Derek_Tradez]

@ChinazaNjemanze Let's start with the fairly straightforward one, risk management.

What's the issue there?

[Derek @Derek_Tradez]

What's holding you back right now?

[Derek @Derek_Tradez]

@daymson1337 They do look quite decent, ngl, but I'm banned there :D

[Derek @Derek_Tradez]

So, you not only lose your account due to "hidden" rules, but you could get sued by a whole legal and compliance team 😂

[PipBack @PipBack_com]

But things got worse after his account was breached…

He received confidentiality clause.

It states you’re not allowed to publicly disclose:

- account details
- platform terms
- private communications

Even after you no longer have an account with them.

[Derek @Derek_Tradez]

@Nagesh_sakhare_

[Derek @Derek_Tradez]

Every trading strategy can be turned profitable.

But your strategy isn't the problem. Your discipline is.

You can't stick with one strategy long enough to let the edge compound.

[Derek @Derek_Tradez]

Creating your trading plan with "only 3" concepts isn't as easy as it sounds. You'll still need to study your ass off.

But focusing on these 3 will give you a huge advantage: you will never fall victim to Analysis Paralysis, something that plagues SMC traders daily.

[Derek @Derek_Tradez]

Everything you need to know about Smart Money Concepts to trade profitably (simplified in 5 tweets)

a thread 🧵

[Derek @Derek_Tradez]

3. Order, Mitigation & Breaker Blocks

Do yourself a favor and learn about the Fair Value Area instead, combining these 3 blocks into 1 singular concept: FVA.

This makes things even simpler: the market is either offering fair value, or seeking liquidity.

https://t.co/wTsinmo6tr