If you spend all day focused on macro headlines instead of the actual price action in front of you...
you will suck at trading.
Everyone who was too busy analyzing the macro news, missed one of the best rallies in recent histories.
Instead of focusing on news, focus on what actually pays traders:
-price action
-volume
-relative strength
-market trends
-tight consolidations
-EMA support
-institutional accumulation
-leading sectors
Charts show where money is actually flowing.
It does not matter how slow you go as long as you do not stop.
- Confucius
In terms of trading, I have found myself being forced to stop multiple times in the past because of some mistakes I had made.
- I wanted to get rich quick.
- I wanted to triple my account overnight
-I needed to make back all the money plus more that I lost on the previous trade.
This is all related to oversizing.
I've said a million times before, it doesn't matter how much experience someone has or how amazing this particular setup looks, The market owes you nothing and there's no guarantee the next trade is going to be a winner.
Do not oversize. In my opinion, the most important part of risk management is position size. Putting all your eggs in one basket thinking you are going to win big is the number one reason you will not last long in this trading game. You might get lucky and win on this one but if you continue to oversize, you're going to run into a losing trade and end up losing your entire bankroll.
There is a mathematical formula that will tell you how much you should be risking based on your strategy's win rate that will allow your account to absorb the inevitable losses while also steadily growing. Math does not lie. It is not emotionally based. It is fact.
Manage your risk.
Position size correctly.
Trade smart and stack wealth.
#stackstrading
#positionsize
#optionstrading
#monentumtrader
#riskmanagement
#stackalope
@PradeepBonde
about the >9M volume..
There are many stocks that have an average volume of much greater than 9 million. In that case, this would have relatively no significance.
I must be missing a lot.
The market has a way of humbling people right after they start feeling invincible.
The best runs often follow the hardest periods — but the hardest lessons often follow the biggest highs.
Everything is cyclical.
Keep your ego on a leash.
Winning streaks are not an excuse to abandon discipline.
Stay consistent with risk management and position sizing, especially when you feel unstoppable.
@MagnomTrader@PradeepBonde It's what I use. I'm not sure what you're asking can be done but, I believe anything can be done in thinkorswim. I custom code my own filters using thinkscript to find what I am looking for.
@iNeeraj_Gupta@PradeepBonde That's how I began to feel about it. Everyone is always talking about making sure you're focusing on the correct theme. But if you're only taking breakouts on proper setups then you're already looking at the correct theme.