@SwingTraderQ PJTs comment was specific. He was not praising Buffetts ability to read the market or pick stocks. What he said is that Buffett at a very early age understood the power of compounding - and used it to generate great lifetime gains.
@PeterLBrandt two things to consider: what system are you using you trading? you should have a pre-established numerical answer to that question (the way i trade it is 1%) But.....there is psychology, as an account grows are you still willing to risk losing 1%? 10k? what if it is 100k risk?
BREAKING: US pending home sales surged +9.6% YoY in the 4 weeks ending May 10th, to 346,104, the highest since September 2022.
Strength was broad-based, with gains recorded across every major US metro except Houston, Detroit, and Seattle.
This comes as mortgage rates declined for 3 consecutive weeks in April, boosting homebuyer confidence.
Furthermore, mortgage purchase applications increased +4.0% in the week ending May 13th.
Strengthening demand is feeding through to prices, with the median home sale price rising +2.2% YoY in the 4 weeks ending May 10th, to $397,740, the highest since July 2025.
This also marks the 2nd-largest increase over the last 7 months.
The US housing market just keeps pushing higher.
@FelipeGuirao Excellent article. ‘The losing problem is universal. The acceptance work is individual.
That is the only place the work can happen.’
‘Systems don’t fail traders - traders fail systems’
@Jubal_Hardin @MasterShinobi88 I think the opposite is going to happen ... already is happening. We are moving back to an aristocratic society - much like Europe. There will be 'haves' and 'have-nots'. This is already the case....'have-nots' are just living on credit and stock market dreams for the moment
@mwebster1971 Mike - Thank you for all the educational work you put out. Sooo appreciate all of it. I thought of you today as we broke to new highs...and was VERY happy to throw the precedent out!!!!
@MarkRitchie_II VanTharpe made the same comment in a book. He went on to say that success is often determined AFTER you buy - trade management. In my own trading I find buying relatively easy - clear buy and stop. It is WHo and HOW to sell (trade management) that is a lot more nuanced.
@TheOneLanceB 100%. I feel like I am working with a 6 year old genius…. On one hand really smart… on the other hand really dumb. You need to keep a very close eye on what it outputs