Excelsior

[Excelsior @excelsiormagis]

Marty Schwartz (Market Wizards by @jackschwager) #marketwizards

[peoplewish @Peoplewish]

There is zero rush. Wait for your pitch. Block out the noise. Focus on your plan. Not someone else’s.

[Lone @lonextrades]

Qullamaggie on Hard Periods in Swing Trading

“But yeah, these periods happen a couple of times per year, so it’s just part of the game. You just have to man up and stay patient — that’s the only way. Because I know that the good times are gonna be back. I know that there’s gonna be a period of a few weeks or a few months where I’m gonna make at least a million dollars. I don’t know if it’s gonna be this year, but it’s definitely going to be somewhere next year, and I just have to wait for that time.”

[Lance Breitstein 🇺🇸🌎 @TheOneLanceB]

How to win at trading:

Forget PNL. Fix one mistake from the prior day. Repeat.

[MARKET INSIGHTS! @IManghaila]

“There is nothing like losing all you have in the world for teaching you what not to do. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn!” - Livermore just after the turn of the century

[The All-In Podcast @theallinpod]

it’s makers vs takers

[The Factor Report @PeterLBrandt]

@tradesbysci Matters little what we make
What matters is what we hold onto

Easy to make money trading
Tough sometimes to keep it

[Mark Cuban @mcuban]

I have an idea for you. Get a bunch of Dem donors to buy or lease or take over a small hospital. Plenty are close to going out of business.

Have it charge ONLY MEDICARE RATES. For everything. Be completely transparent with every penny you spend so everyone can see what it truly costs to run a small hospital.

See if you can make it work. See what services you can offer. Do not ask for any government subsidies. It has to operate at least to break even.

There are some hospitals that already do this. It wouldn’t be unique. If it works out, you can buy another one. Then another one. Till you have a network.

I’ll help where I can. And for those asking the inevitable, I have tried. As I posted earlier, they all ghosted me after learning how transparent I wanted to be.

[Steve Burns @SJosephBurns]

You must clarify your trading system framework if you want to have confidence in using it with discipline.

[david friedberg @friedberg]

if @elonmusk paid 100% of his net worth ($1.4 trillion) as a tax it would only cover federal government spending for 77 days. this isn’t a tax problem…

[Wall Street Mav @WallStreetMav]

@SenWarren Why would we want a policy of the government paying for childcare?

Our policy should be to create an economy where women can stay home to raise their children. Forcing everyone to become a two income family, in order to survive, is retarded.

[peoplewish @Peoplewish]

Usually a waste of time buying stocks on FOMC days before the meeting. Every now and then you might get lucky, but in my experience it’s usually better to wait for the decision and the market’s reaction. FOMC days are often best treated as trader abstinence days. I look at them as vacation days.

[Axios @axios]

🚨 BREAKING: Gavin Newsom says he is under investigation by Trump's DOJ https://t.co/PJJMyfSQ0u

[The Rabbit Hole @TheRabbitHole]

“One of the sad signs of our times is that we have demonized those who produce, subsidized those who refuse to produce, and canonized those who complain.”

— Thomas Sowell

[AT09 @AT09_Trader]

Just finished The Market Wizards: The Next Generation. Incredible read.

Here are the top lessons that stuck with me.

-Take the first small loss. The first loss is almost always the cheapest one. The longer you wait, the more it costs you, both in money and in the mental energy spent hoping it turns around.

-Any stock can do anything. No matter how strong your thesis is, the market does not care. A stock can defy logic, fundamentals, and every chart pattern you know. Respect that uncertainty and never bet like you have it figured out.

-Being early is being wrong. You can have the right idea and still lose if your timing is off. The market can stay irrational longer than your account can stay solvent, so wait for confirmation instead of trying to predict the turn.

-Stop out quickly. When the trade goes against your plan, exit fast. Hesitation turns a small, manageable loss into a damaging one. The stop is there to protect you, so honor it.

-Try to get green as fast as possible to prove you are in the right trade.

-Focus on defense more than offense. Protecting your capital matters more than chasing big wins. You cannot make money if you blow up your account, so survival comes first and the gains follow.

-Don’t hope, just get out. Hope is not a strategy. The moment you find yourself praying a trade comes back, that is your signal to close it. Hope keeps you in losers far too long.

-Size based on how attractive the trade is. Not every setup deserves the same size. Push hard when the odds are clearly in your favor and stay small or pass when they are not. Your best ideas should carry the most weight.

-Scale back once you have made it. A common pattern among the Market Wizards: after achieving real success, many traders deliberately pull back the time and energy they pour into the markets so they can live more balanced lives. The goal was never to trade forever. It was to win and then enjoy it.

I was especially mesmerized by Simon Russo’s story.

@jackschwager @gfc4

[zerohedge @zerohedge]

*NEW YORK KNICKS WIN FIRST NBA CHAMPIONSHIP SINCE 1973

[Excelsior @excelsiormagis]

@SenWarren We may or may not go to Mars but watch Warren and the likes benefit the most from all the advances Space X makes

[Excelsior @excelsiormagis]

“Replace your opinions with trade signals, your ego with position sizing, and your
emotions with a trading plan.”

-@SJosephBurns

[Steve Burns @SJosephBurns]

“Your goal is not the upside, your goal is to limit the downside.”

— Mark Minervini