Just off the top of my head. Be prepared to trade the long side or short side.
1. Dont pick bottoms.
2. Expect the unexpected.
3. Protect yourself on EVERY trade.
4. Do NOT add to a loser.
5. Get out when you can not when you have to.
6. Markets can remain irrational longer than i can remain solvent.
7. Do not let your opinions or guesses guide your trades
8. Do not let your emotions guide yoir trades.
9. Do not pick bottoms.
10. Do not pick bottoms.
Life is too short to worry about stupid things. Have fun. Fall in love.
Regret nothing and do not let people bring you down.
Study, think, create and grow. Teach yourself and teach others.
—Professor Richard Feynman
Was responding to a good dude hitting a wall in clarity of trading this current market. Good trader, no ego, working smart. Just in one of those places where it’s just hard.
“This too shall pass”
You can have an edge that goes cold at times. Markets do that, we do that to ourselves at times too.
My buddy @paxtrader777 calls it capitol preservation or not worth my money
@agnostoxxx calls in meme trading both work
It becomes personal, impacts your world and thinking. We have the tools to Limit loss and they should be utilized. Proper entry and exit levels. Spots to reduce risk and make it a free trade. Spots to add aggressively to winning positions. This a the stuff that allows you to grow into a long term trader.
I’ve said this often but I am an EQ trader, intuitive and focused on a few contacts to trade. Expand my knowledge base and dig in.
Sometimes I’m wrong, happens a lot, I have a better batting average than most major league ball players. It took a long time to get there, started on the floor learning how to scratch a trade.
Expanded to learn how to push a market, I don’t have the leverage I had in the pits anymore can’t push sofr like back in the day but I can use those lessons to help me add to winners.
One of the best lessons I’ve learned is to always have skin in the game. It doesn’t have to be size. It does shine light on my perspective relative to the market.
You refine your view by price action relative to the market. The market is never wrong until the crowd is wrong.
There are tools you can use to help expose those potential scenarios and set ups. You need a clear mind to take those trades. Trading defensively is appropriate at times trading aggressively is appropriate at times
Letting the market come to you is special and it doesn’t happen every day.
I highly suggest to consider matching DV01 to expectations matching the markets price performance to confirm or deny your thesis. Then it’s a trade with confirmation and not being right.
@Bitcoin_Teddy Why make millions when you can make billions? Waiving his salary is just a distraction. It feeds the false narrative that Trump isn't in it for the money. It's publicity. It's all part of the show.
Trade identification (set ups) are waaaaaay over emphasized and contribute little to a trader's edge. How a trade is sized and exited and the management of emotions and process are far more important aspects of trading. The vast overwhelming obsession over set ups is misplaced
Against impossible odds, hope endures. 🇺🇸
American search and rescue teams rescued an infant from beneath the rubble following the earthquake in Venezuela. Every life saved is a victory.