Randomness and Luck could play a dangerous role, which has the potential to spell disaster, especially when someone is just starting out. #mydadthetrader
Later on you will come to realize that the market has a very real and complicated function, and for you,.. as a single small time player, it is completely unrealistic to expect the market to work in your favor at all times. Expect and plan on trades turning out to be losers.
Viewed in isolation having turned $1,000 into $50,000 is great, but not when you’ve turned $200,000 into $50,000, losing 75% of the trading capital you had available at one point. Relentless protection of trading capital is key! #mydadthetrader https://t.co/iyWkMh5xRK
In the end, the only way you will end up trading over the long term is if you feel a sense of progress, motivation and achievement from your actions. You're here because it was your own choice, might as well enjoy the ride! #mydadthetrader
Regarding RSI, Stochastic, MACD et al. Markets can remain overbought far longer than many bears have the ability to pay up for a losing short position. OB/OS measures good for trading range mkts. Severely OS mkts tend to mean revert.
Don’t ever have a FOMO moment. You will learn that there are always other trades, there are always ways to get into a trade you’ve missed, and a golden rule to follow is move only once you are ready to do so… until then we sit back…
There are various different types of trading styles, and matching your own personality to the one most suitable is critical to your own trading longevity. https://t.co/nus6rB8WC5
I want to build wealth consistently, so my focus is not on finding something that works once, but instead can be repeated regardless if markets goes up, down or sideways. #mydadthetrader#trading
A major benefit of the Max Draw Down Limit is that it also ensures that you protect any new growth in your portfolio, in other words, newly acquired capital. #mydadthetrader
Many traders when quizzed will admit that their expectations of how much risk they can tolerate often is far different to how they actually tolerate risk once in a trade. #mydadthetrader https://t.co/eoHQBC5zeW
Once you get to the point where you realize you are in this for the long haul, then the result of the very next trade you are about to take becomes a bit less daunting - #mydadthetrader https://t.co/zw7tSqxNlr
Trading can add an immense amount of stress to your daily life if your goals are not aligned with who you are,.. personally at your core, and in line with your own tolerance for risk and appreciation of reward. #mydadthetrader , https://t.co/TfclgQRnoY