Maxx14

[Trading Composure @TradingComposur]

"To get what you love, you must first be patient with what you hate."

― Al-Ghazali

[Navalism @NavalismHQ]

"The purpose of wealth is freedom."

@naval

[James Clear @JamesClear]

Work hard on what comes easily.

[Alex Hormozi @AlexHormozi]

You’re nervous because you’re underprepared.

Hard to be nervous when you’ve actually done the same thing the same way 100 times in a row.

Action alleviates anxiety.

[Adam @AdamColb_]

Note to self:

- Goal without deadline = Fantasy

- Goal + Deadline = Objective

- Goal + Deadline + Plan = Intention

- Goal + Deadline + Plan + Consistent action = Success

[Fernando Cao @thefernandocz]

I’m 24.

I used to be stressed out of my mind and wasted years of my life making the wrong decisions.

Then I spent 100+ hours studying Charlie Munger’s letters to learn his mental models on decision making.

Here’s what I found:

[Alex Hormozi @AlexHormozi]

The world belongs to those who can keep doing without seeing the result of their doing.

[EDDIE CHENG @ecomEddie]

I’m 33.

When I was young, I wasted years drinking, smoking, and being a degenerate.

Then I discovered Naval Ravikant and he changed my life forever.

Here are 20 teachings from the wisest person of this century (that will change your life too):

[Maxx14 @Maxx1418]

@RealEmirHan

[Sara | Perception & Performance @PerceptivTrader]

When we get out of our comfort zones to take more risks, we don't become less fearful; we become braver.

— Jordan B. Peterson

[Alex & Books 📚 @AlexAndBooks_]

All of human knowledge is contained within these two books.

[Adarsh Chetan @AdarshChetan]

Say goodbye to 9 to 5 job.

Here're 7 websites that pay you from home:

[Bishal Nandi @LearnWithBishal]

The Internet is beautiful.

I've spent the last 3 years collecting the best websites.

Here's a list of my 8 best picks:

🔖10/10 would Bookmark:

[MATT GRAY @matt_gray_]

This took me 15 years to learn, I’ll teach it to you in 5 minutes.

How to go from founder prison to founder freedom:

[MrBeast @MrBeast]

I’m gonna give 10 random people that repost this and follow me $25,000 for fun (the $250,000 my X video made)

I’ll pick the winners in 72 hours

[ThiccTeddy @ThiccTeddy]

Using Volume To Validate Moves/Price Action

This thread will teach you the basics of examining candles and determining whether they are validated or invalidated by volume

🧵👇

[James Clear @JamesClear]

Money plays an important role in life, but it can't be the only filter for how you decide to spend your time. Nobody will ever pay you to go on a date with your spouse or take your kids to the park or grab coffee with your parents.

[Sara | Perception & Performance @PerceptivTrader]

I say this all the time to the traders I guide:

Every new method or goal you attempt to implement comes with a trade-off. The problem arises when you seek the positives without accepting all the conditions.

Examples:

✔️ If you wanna stop chasing moves, you gotta accept price moving without you.

✔️If you go in with a bigger risk you gotta accept a potential bigger loss.

✔️If you wanna focus on high-quality trades, you must accept that you will miss out on some opportunities.

✔️If you wanna expand your watchlist and take more trades, you gotta accept that you'll have more losses.

✔️If you wanna trade with discipline, you gotta accept the emotional challenge during losing streaks.

If you're committed to achieving a goal, make sure you understand the terms of the deal you're signing up for.

Make peace with the potential downsides and figure out how you'll handle them. Planning avoids unexpected surprises.

[Trader Mind Mastery @tradersmindedge]

Your risk per trade should be at a level where you could lose 20 trades in a row and still have your account.

I promise you, you won't have any fear if you risk was that low.

The FEAR arises when you have TOO much at stake.

Your position size is too large.

[Sara | Perception & Performance @PerceptivTrader]

Here's a quick piece of advice for the week ahead:

𝗗𝗶𝘃𝗼𝗿𝗰𝗲 𝘆𝗼𝘂𝗿 𝗣𝗻𝗟.

It's better said than done, but it's the only way you'll deliver your best performance.

Money is important to us, that's no lie, and we tend to tie it to our self-worth. From that point on, it gets tough to trade unbiased - everything that happens in the market becomes a personal attack on your identity.

So, how can you 'forget' about the PnL?

You don't fully. 𝗝𝘂𝘀𝘁 𝗹𝗶𝗸𝗲 𝗶𝗻 𝗮 𝗱𝗶𝘃𝗼𝗿𝗰𝗲, 𝘆𝗼𝘂 𝗱𝗼𝗻'𝘁 𝗲𝗿𝗮𝘀𝗲 𝘁𝗵𝗲 𝗽𝗲𝗿𝘀𝗼𝗻'𝘀 𝗲𝘅𝗶𝘀𝘁𝗲𝗻𝗰𝗲, but you remove emotional ties to them! Similarly, you won't forget money's existence in your trading but here are some key steps to remove your emotional attachment to it:

𝗙𝗼𝗿 𝗯𝗲𝗴𝗶𝗻𝗻𝗲𝗿𝘀: remove the connection between money and trading. Treat it like a game of numbers and probabilities.

Get a job, part-time, or side hustle to cover your bills. By removing the financial pressure, all you have left is focus on the process and quality of execution. Starting a trading journal won't seem that useless anymore.

There's still self-imposed pressure about where you should be in your journey but that all comes from the comparison (eg: I'm already in this for x years and I'm still nowhere). If social media are contributing to this, remove the apps from your phone and walk your own path.

Some traders get to consistent profitability in 2 years, others in 10 years. I've seen both. The most important thing to realize is that 𝘆𝗼𝘂𝗿 𝗷𝗼𝗯 𝗶𝘀 𝗻𝗼𝘁 𝗱𝗼𝗻𝗲 𝗮𝗳𝘁𝗲𝗿 𝘆𝗼𝘂 𝗮𝗰𝗵𝗶𝗲𝘃𝗲 𝘆𝗼𝘂𝗿 𝗳𝗶𝗿𝘀𝘁 𝗺𝗼𝗻𝘁𝗵𝘀 𝗼𝗳 𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁 𝗽𝗿𝗼𝗳𝗶𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆, there's a lot of work to do in sustaining it long-term. The interesting thing is that the traders who achieve it faster have a harder time sustaining it compared to the traders who take longer to achieve it. So no rush and no comparisons. It's a personal journey.

𝗙𝗼𝗿 𝗲𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲𝗱 𝘁𝗿𝗮𝗱𝗲𝗿𝘀: access your performance in points rather than in PnL. Have other sources of income and fulfillment in life upon which you can build your self-identity. Do everything to detach your self-worth from trading results and attach it to great execution.

Understand in what conditions you tend to hold bad and exceptional performances. Work on your weaknesses but save the big plans for your strengths by doubling down on the factors that allow for great performance.

Bottom line: It's nearly impossible to forget about money's existence in trading but if you divorce yourself from it, you'll step up your game by far!

Have a great trading week.