I make a tons of mistakes in the market. I will acknowledge my mistakes no matter how painful it is to look back and correct my mistakes and make sure I will never be that stupid ever again.
Pain + Reflection = Progress
This man understands the markets.
He predicted:
1. Japan’s crash
2. The 2008 recession
3. The U.S.–China power shift
Ray Dalio just issued a new warning.
Here’s what he sees coming: 🧵
On March 25, 2015, two Stock Market Wizards sat down to discuss the principles that led to their success
3X US Investing Champion David Ryan & 2X US Investing Champion Mark Minervini have mastered the art of super-performance
10 Rules they follow to reach +100% Returns (Thread)
The man who turned $10,775 into $18 million in 16 months from June 1998 to December 1999 and later $18 million to 42 million in just two years.
The 10 points of his Trading Strategy from the Legend J. Dan Zanger you need to read:
People ask me for list of favorite books.....this my main shelf...Reminiscences probably favorite book and its not there....Marty Zweig book have not read entire thing yet. Screen time/trading is the only way to learn to trade though. Go through past big winning names bar by bar and see how moved. I've recently been re-reading all market wizards now that been trading a while and the pieces I find relevant (I see my old highlights) are different.
I believe that to be great, you have to learn to think like someone who is great.
This is why I've taken note of golden nuggets or quotes @markminervini has come out about life and markets.
Share and spread the wisdom 🔁
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Life Advice:
Ok another great question that is both important and personal, however I'm happy to share as I'm a big believer in 'counting the cost' of things and I'm not just talking money in this case prior to undertaking a significant life change...
Ok time for a word of encouragement & personal story for all of you out there who've been a bit banged up over the past year or to anyone thinking about quitting. Early on in my first year on my own in market I was down. Down on money, down on confidence and down on strategy...
$SPX One mistake I made: I shouldn't get into the market too aggressively. I was afraid that I might miss out causing me to position sizing too aggressively. I know the market is about to pull back. If you position your size too large, even a 1% drop will make you anxious...
Seems like the most recent follow-through day was held well. And some of the individual stocks are breaking out of their base. The market is overbought now, and a pullback is expected.