G Knows

| The Journey | MTA |

[kyce @kycefn]

$IWM: Red circle = start of 2022 = when I started small caps.

I have been trading extra patient recently. Helps me to zoom out on IWM and see where it is.

The longest period of weakness since 2008.

[Lance Breitstein 🇺🇸🌎 @TheOneLanceB]

@Systematic___ Probably a few* that are profitable.

Just not MOST of the marketers :)

[Lance Breitstein 🇺🇸🌎 @TheOneLanceB]

$10,000 WAGER AGAINST S&P FURUS

I am EXTREMELY skeptical of one’s ability to succeed only intraday trading the s&p or similar indices.

NO BROKEN SLOT MACHINE = NO EDGE!

Yet huge FinTwit ecosystem of courses & chatrooms exist giving false hope to good-hearted people that can’t afford to waste their time or money.

If the marketer is not providing edge and verifying proof, it is unethical for them to cause harm to their consumers.

My $10,000 gauntlet for those marketing courses/services:
-3 years of statements
-Indices traded > 80% of trading days
-Over 250 index trades per year
- Net PNL > $250k from the daily trading of indices (not just one big chop on an in-play name)

If proven wrong, I will redact this statement and publicly make a video that I am wrong and provide credibility to you.

LETS SEPARATE THE WHEAT FROM THE CHAFF!

[G Knows @GKnowsWorld]

@csc187 The worst type of advice - "advice" from someone who doesnt know you, doesnt have what you want, and doesnt know anything about what you do.

[G Knows @GKnowsWorld]

If you’re profitable you have a system, whether you realize it or not. A system, methodology, strategy is what separates profitable trading from blind impulsive gambling. Show me a profitable trading who doesn’t follow a similar framework on most of their trades…

[AsymTrading @AsymTrading]

I think it's hilarious to drop the system traders vs discretionary traders grenade and then walk away. This is a debate that's decades old and certainly won't be resolved here. Same with technicals vs fundamentals.

People point to guys like Seykota, who literally talks about overriding his own systems based on gut feeling - literally the definition of discretionary trading. "But he usually follows his system.." Ok - he still feels discretion is critical to his success. Also, he has enough actual trading experience to change his systems - which is a requirement for long-term systems trading. You have to understand the markets enough to change the system to make it relevant. Otherwise, the system goes into the dust bin like all the rest. Study LTCM as a case study of what happens when you think you can pigeon hole the market into a box and account for everything.

People cherry pick one quant dude, who is zomg so amazing. Guess what, buttercup - you're not him and you never will be. How the hell does that benefit you as an individual trader who in all likelihood can't program anything? You're going to try to model your trading off of what? Some secret algo that you have no access to? Good luck trying to replicate that. Maybe you can sift through the 1,000 black box systems and find something useful.

I'd rather study and model myself off of something far more repeatable and accessible to the lay person - studying discretionary individual traders who actually have verified results. If someone needs PhD in statistics to build a successful algo system, then good luck for the layman trying to do the same.

And I'm not talking about just building an algo - any numbskull can do that. Most people who claim they have successful algos are full of shit - just like all the black box salesmen conning people out of their money. I had some idiot the other day claiming they run like 20 algos and do this that or the other. That means your algos suck balls if you have to run 20 of them to make money.

Almost none of the guys in the USIC are running algos. If these algos are so good, then why wouldn't you just demolish the discretionary competition with actual trading competition? Because it's a fantasy that most can't actually replicate and isn't realistic for 99.9% of the people reading this thread.

Anyway...I'm done stirring the hornet's nest for the day. Back to real life.

[Lance Breitstein 🇺🇸🌎 @TheOneLanceB]

DONT cut your losses quickly and hold your winners longer.

Cut your losses exactly where your system tells you to and hold your winners to exactly where your system tells you to.

If you don’t have rules and a system… well, good luck pal.

[Goshawk Trades @GoshawkTrades]

Backtesting isn't a perfect science as with anything in trading,

But as Jim Simons says:

“Past performance is the best predictor of success.”

And I couldn't agree more.

[Cody 🇺🇸 @OddStockTrader]

In Life:

"It's not what you know, it's who you know"

In Trading:

"It's precisely what you know not who you know"

Learning to trade is the great equalizer.

[G Knows @GKnowsWorld]

@TyzenTrades well deserved man you did it the right way! happy for ya

[G Knows @GKnowsWorld]

If you have the latter, then you wouldn't struggle with the former...

Whatever you struggle with define what it actually is at its core, and then ask yourself "is this really my issue or is it actually something else?"

Make sure you're solving for the right thing.

[G Knows @GKnowsWorld]

Many traders think they struggle with discipline, really they struggle from not having a strategy that has a proven edge.

Many traders think they struggle with patience, really they struggle with conviction in the setup reaching the target.

I can go on...

[G Knows @GKnowsWorld]

1 year finding an edge.
1-2 years realizing you don’t actually have an edge.
1 year finding an actual edge.

Trading takes so long because it takes most people a long time to realize there are no shortcuts. Until you have 6-12 months of consistent profitability you have nothing.

[Oko @OkoTrading]

1 year finding your edge
3 years to stop being a cunt

[Goshawk Trades @GoshawkTrades]

My Favorite quote:

“To anticipate the market is to gamble. To be patient and act only when the market gives the signal is to speculate.” - Jesse Livermore

To be a trader we can't just place random bets, we must wait for our edge otherwise we are just gambling.

[G Knows @GKnowsWorld]

Have said this for years 70-80%+ of your work should be done OUTSIDE of market hours. Defining, tracking, testing, refining your edge until its PROVEN.

The other 10-20% during market hours is simply EXECUTING that edge. There shouldnt be too much thinking.

Scalping is different

[G Knows @GKnowsWorld]

This only happens to traders without a well defined process and edge with scanners built.

A traders job is to come to the market and look for their edge; if it's not there then you dont trade.

Most trade randomness and/or are addicted to the excitement that comes from gambling.

[CooperBaggs 💰🍞 @edgaralandough]

Traders will hate on the 9-5 but sit in front of their screens 9-4 😂😂😂😂

[Lance Breitstein 🇺🇸🌎 @TheOneLanceB]

Let me help you all:

If you follow anyone that speaks w certainties rather than probabilities as to what a stock will or wont do, unfollow & mute them.

Total hubris.

Not once in my whole career have I known what a ticker will do.

I should use this thread to call ppl out 🥊😂

[AllDayFaders @team3dstocks]

Of course u need GOOD entries. But to think entries are more important than exits, is like saying the plane take-off is more important than the landing. If i had to choose, I'll take a shitty take-off anyday. but by god, please give me a pilot that knows how to land the plane.

[G Knows @GKnowsWorld]

Great commentary.

Tough one bc of the halt over HOD/PMH but anyone who got burned ignored too many warning signs.

One of my favorite sayings of yours... "better to be a little late than [way] too early"

[Nathan Michaud @InvestorsLive]

$MF can see thoughts live in the room re: traps

First takeaway: What was the prior close? Will circuit bands be close? No matter what we know have to be self aware and on toes anytime this is the case.

2nd: You're taking a trade that you'll be right or REALLY REALLY wrong - is that edge?

3rd: Gamified tape? 14 sec circuit down and swipe? Is it showing the signs? Is a circuit down really bearish? Or is it part of their plan to paint the picture they want you to see? To make you think it's bearish and start to entice shorts to size up into a circuit down to only swipe you on the 14th second of the 15th second holding pattern for a circuit halt?

4th: Attempting to trade between halts on names with tight circuit bands opens you up to at on of risk.

5th: Let it re-test and prove you right and THEN think about it - most times you'll realize that you're proven wrong within seconds.

Just some tidbits from discussions when situations like this happen 👇

[G Knows @GKnowsWorld]

@TattedTraderGuy @EclipseTrades Look on the bright side. Furus bring noobies to the market. 5% will eventually learn and seek out real education and the rest will take the other side of our trades.

[RickyAnalog 🐢 @RickyAnalog]

This is HUGE for anyone that felt overwhelmed using Spikeet before. Now you have ZERO excuses. #GetToWork