Thanks to the really good webinar last night @ThorYoung , I saw SPY inflection of $419 using the 3-day 5 min chart. Saw the high volume candle wick through $419 and vwap, entered short. #BBTfamily@MikeB_BBT @NormBBT @BearBullTraders#tradeoftheday
One of the most intangible aspects of trading relates to how a trader's mindset develops and matures with time.
This is part of the reason why I like to spell out the arc of a trader's journey that I've witnessed time & time again.
As impractical as it seems, let me elaborate:
"New goals don't deliver new results. New lifestyles do.
And a lifestyle is a process, not an outcome.
For this reason, your energy should go into building better habits, not chasing better results."
โ@JamesClear
A thread on trading in early 2021
So imagine you turn up at the biggest poker table in the world with a wad of money, you are playing against all the other poker players. You start off well (luck will favour some) and think โwow Iโm good at thisโ.
1/9
@vlowtrades Judge your performance based on how well you planned and executed a playbook trade, not PNL. Also, embrace learning and education as another way to measure success. Deep dive into trading psychology if you have not done so already, big fan of @Crede_Perform
"Oh you silly poors, six hundred dollars is a *lot* of money if you invest it wisely and NO WAIT NOT LIKE THAT HOLY SHIT NO STOP WHAT ARE YOU DOING?!?!?!?"
When you see an A+ setup, you have to take it, no hesitations. Submission for BBT trade of the day. Couldn't have made this trade without the help of everyone at BBT, thank you! #DayTrading#BBTfamily@BearBullTraders@MikeB_BBT @NormBBT
REMINDER: Wall Street hedge funds running to the exchanges to halt trading to prevent losses is another example of why the game has always been rigged in favor of the elites.
When you lose it is okay, but when they lose the game is turned off.