I am contemplating selling some of my Bitcoin and going to Gold with the money.
Looks to me that Gold is going to gain substantially on Bitcoin $XAUBTC
The reason I post Tweets is to hopefully find just a few handfuls of folks that actually want to take trading seriously and learn. I am just trying share the things I had to learn the hard way. If my messages help, I'm glad
It’s worth recalling again that while Nawaz Sharif was allowed a weekly meeting with about 100-150 people which included party workers/leaders, doctors, lawyers, Imran Khan has been denied this basic right for over 8 months. Even during periods of martial law, no political leader was ever denied this facility.
Load shedding, inflation, poverty, unemployment, broken roads, a collapsing health and education system, injustice, weak passport, instability, and corruption, this is all PML-N has given Pakistan after more than 30 years in power.
Expect the first 3 to 4 years to be losers or breakeven at best -- so make sure your sizing is small (max risk 70 basis points) and you cut losses quickly, otherwise you will not learn enough about the markets and yourself to become successful
DO NOT BE A DAY TRADER
میں امریکہ میں مقیم کئی پاکستانیوں کو جانتا ہوں، جنہوں نے ٹرمپ کو اس لیے ووٹ دیا، کہ وہ عمران خان کو رہا کرائیں گے۔ عمران خان تا حال و��ڈ میں ہیں،
جو کچھ پاکستان میں ہو رہا ہے وہ فاشزم ہے، احتجاج کرنے والوں پر فائرنگ کی جاتی ہے۔ عام لوگوں کو دہشتگردی قوانین کا سامنا ہے، عمران خان کے بیٹوں کو ویزا بھی نہیں دیا گ��ا، مہدی حسن
Twelve million ounces of physical Silver tendered against the June Comex contract $SI_F
Next time someone tries to tell you that Comex only deals in paper Silver, remind them of this
Imran Khan expected from us the same resistance Kashmiris have shown in the last few days, and we let him down. This guilt feels so heavy on my conscience.
Major support in Silver comes in at $54
Here is how the dynamics of price behavior works:
Late comer bulls who bought >$90 missed the top and have sworn to themselves that they will never sell out
In fact, they have stated their intent to buy more at $65 and more at $60
They will mark the bottom by puking out their positions below $60 swearing to never trade Silver again
This is how bottoms are made every time in every market be it Silver or Bitcoin or Soybeans or Sugar or the S&Ps
$SI_F #silver
‘I further promise you, that all my wealth and property will be in Pakistan. I will take ownership of this country and won't be like those leaders who create hideouts abroad’- Imran Khan
A harsh reality
Are you out to turn a little into a lot in a hurry?
Look folks, there has been tons of research done on the success rate of retail traders. By exchanges, regulatory agencies, brokerage houses, trading platforms, academic researchers and the like.
The numbers are in and you are a fool to begin with if you think your are an outlier -- although all retail traders think they are outliers (and they usually are on the left side of the bell curve distribution).
Expectations and eagerness to trade for the sake of money are inversely correlated with success. Sorry, but true (of course except for in your dream world).
You want to turn $50k into $5 million in five years? Well, go for it if you that is your dream. But know that professional career traders in zero-sum markets (like futures, day trading anything and crypto) plead with you to trade their asset class. Please, I beg you to trade futures (my asset class).
Fresh meat is always welcomed.
Maybe you are among the 2 in 1,000 that can with a few years of experience achieve back-to-back-to back-100% years. I do not want to do anything to prevent your effort. I wish you well. In 50 years I've witnessed many try.
Or, do you have realistic profit expectations and want to become excellent in some niche of market speculation?
Then you have a chance.
But your chance depends on your ability to protect your capital and avoid big losses.
Here is the reality folks -- the real world where 99% of us live.
Pick your asset class. Now have adequate capital (the amt is disputable but I use the figure of $50k). Next know that no matter what you do it will take three to five years to even pick up the scent of where your excellence might be hiding.
Your challenge will be to develop some scheme or system or approach that is repeatable. Every successful trader has a different method. No exceptions. You cannot copy anyone. There are reasons why I won't go into.
You might have to try a few different approaches to find what methods are suitable to you.
But here is the HUGE challenge you face.
You will have to keep your capital intact (relatively speaking) or have deep pockets to get through the three to five years of the steep learning curve.
You will also need to avoid the fast talkers who want you to believe they have your answers.
Following are appeals I received via email in just the past week from "reputable" trading services (these are verbatim):
-$10,000 into $30,417. 14 out of 20 trades doubled
-that's a 1,004% return in 6 days, turning a $605 bet into $6,684
-1004% on UMAC
- +100% on BBAI in a day
-See how stock flips could have made $92,000 in one year!
-Soured 1,025% in just six months
-convinced this could be this year's next 1,000%
You fall for these lines, you are done for. Another reality is that not everyone is made for crazy success in trading. Most people would be better off living frugally and putting as much money as they can into a 50% SPY, 30% fixed income, 10% energy and 10% precious metals portfolio and let it work over time. Then pursue a day job that excites you.
So, don't be conned by the circus acts that promise you the moon. Trading is hard work. Tedious. Boring often. Stressful.
My standard recommendation to most young people is to get an education in a field that you like and where jobs are available. Like welding. Or supply chain management. Or engineering.
98% of you young folks will thank me for this advice someday.
Taking a profit is often a "damned if you do, damned if you don't" dilemma.
While taking a profit is always better than taking a loss, there are times when taking a profit can create anxiety and outright regret.
Let's say you buy a stock at 50 with a mental target of 100 and maybe the possibility of 150.
Next let's say the stock goes to 100 but you do not take profits.
Next let's say that your trailing stop (if you use these) takes you out of the trade at 80.
Do you then regret not taking profits at 100? Of course you do if you are even part human being.
But what if you would have taken profits at 100 but then the stock kept running? Chances are you would have also regretted the decision to take profits at 100.
You see, taking profits is a damned-if-you-do-damned-if-you-don't business.
I hate regret. I decided many decades ago in my 50 year career that regret is something a trader needs to avoid. Living in a cycle of regret is not healthy for trading will sooner or later come back to bite you.
So I made a decision to create rules and stick by them. Rules created process for me so that my emotions were not led around by my last or current trade.
I take profits at targets when I have a light position on. If I take a heavier position I will then take profits at the initial target on a portion of my trade and hold out for a 2X profit on the other portion.
Do I miss the occasional rocket-ship market by taking profits? Of course. There is no perfect trading plan.
There is an alternative way that from time to time I will employ in a trade. That is using a simple moving average on a partial position so that I adopt a trend following approach on some of the risk I take.
In a trade following approach inevitably the top cannot be picked so some money is given back at the trend change or major correction. But again, there is no perfect model.
My recommendation to new traders is to commit yourself to the path of least regret, whatever that might be.
What makes Imran Khan extraordinary is not his wins but his ability to win when winning feels impossible and all the hope is gone.
- Won the 1992 World Cup with a ragtag team that nobody, including the team itself, believed had any chance of winning. His sheer belief and will made it possible.
- Built a free cancer hospital for the poorest in society when everyone said it was a crazy idea and the model won’t work. Decades later it has expanded into other cities treating millions of cancer patients every year.
- Defied every critic and launched a political movement for justice that became Pakistan’s largest political party breaking the monopoly of two military backed political dynasties. He played clean in the dirt, and still won.
- Now at 73, in prison, fighting the final round for his people against monsters that don’t know the concept of sovereignty and freedom, and refuse to decolonize the country.
There is a clear pattern in his story. When there is no hope left and all the odds are stacked against him, that’s when he wins, and wins big!
By the end of it, this will be one of greatest story ever told.
صنم جاوید پر شدید تشدد کیا گیا آنکھ ضائع کرنے کی مکمل کوشش کی گئ ہسپتال میں زندگی کے لئے لڑ رہی ہے صنم جاوید پر تشدد ایک ٹک ٹاکر کو راضی کرنے کے کئے کیا گیا شدید گرم کمرے میں بند کیا گیا جہاُں نا پنکھا نا ہوا تھی یا رب العالمین ہم نے تو سنا تھا کہ کفر کا نظام چل سکتا ہے ظلم کا نہیں مگر چار سال ہو گئے مولاکرم فرمائے 🥹💔