Karmic Trader

Personal trading notes of a novice trader.
On twitter to learn.
90s cricket's fan.

[Karmic Trader @trader2201]

@NickSchmidt Months

[Karmic Trader @trader2201]

@NickSchmidt Seykota talks to traders' pain points like he has lived through all of them himself but just won't let us know.

@gfc4

[Karmic Trader @trader2201]

@gfc4 Course/seminar/mentorship*

[Karmic Trader @trader2201]

This book could be called Contradictions of the great traders and still live up to its utility. Won't give you what you want but will guide you how to build what you need. Read and keep revisting.

[George Coyle @gfc4]

After many suggestions over the years, I decided to turn my trader principles paper into an e-book. This book condenses the consistent principles of a century of great traders. Quick read that could have a strong impact on your results. Pick up a copy: https://t.co/Hp31rotMJb

[Karmic Trader @trader2201]

@takmanish007 @gfc4 This 👆😭😅

[Karmic Trader @trader2201]

@rjpjr12 @gfc4 On emotional side, personally I like the stability of doing less and having less rules vs frequently bringing in 'discretion' into the process. Leads to less friction over long term ie many trades. But everyone's different so I understand they might find peace in something else.

[Karmic Trader @trader2201]

@rjpjr12 @gfc4 One can propose that after premature folding, one can hop onto something which is actually 'moving' but we all know how that goes in the real time. More decisions usually lead to below average results most of times unless one is a twitter (phantom) trader.

[Karmic Trader @trader2201]

@DThomasStealth tbh, he outlined 2 extremes and as usual, the truth is hiding somewhere in the middle. He has a point but he didn't choose best examples.

[Karmic Trader @trader2201]

@DThomasStealth Personally, thats the biggest (& quite tragic) 'big picture' lesson from Livermore for me.

[Karmic Trader @trader2201]

@DThomasStealth It's incredibly tough indeed as the game keeps reseting all the time irrespective of the past & success is transient. Unlike conventional careers, trading has much higher risk of demotion/firing lurking all the time.

[Karmic Trader @trader2201]

@RichardMoglen @TraderLion @jackschwager and @gfc4. To remind us what hasn't changed (& most likely won't) over the generations of MWs.

[Karmic Trader @trader2201]

@gfc4 Don't want to nitpick but from my experience, its a bit more nuanced than this. Your horse just making its mind at the gate vs already bolted a fair distance and now getting into a reverse gear are two v different scenarios imo.

[Karmic Trader @trader2201]

@CFlanders7 Every trader worth his/her salt does 😁

That lucky jail break which we know we didnt really deserve as we walked into a market choke-hold while fully awake.

[Karmic Trader @trader2201]

@kswindia How else they sell courses? They don't trade anyway

[Karmic Trader @trader2201]

@gfc4 Actually, it's not that uncommon in pro-sports (markets are pro sports). Top players always go out of 'form' but their out of form performance is about average/not too bad and then they kill it again when the form returns. Repeat long enough = legend.

[Karmic Trader @trader2201]

@gfc4 Excluding maybe Rentec & twitter money managers (specialized group of twitter traders)*

[Karmic Trader @trader2201]

@mmonis To keep tradeds guessing why it's happy.

[Karmic Trader @trader2201]

@iManasArora @rahul1239320 @sumitkbehal OG post's framing reduces trading to intellectual pursuit which is incomplete as best. Sneak check your guru by how excited he got by that post. YKIFK 😁

[Karmic Trader @trader2201]

@iManasArora @rahul1239320 @sumitkbehal Agree w/ Manas. In initial post, he says human laziness leads to moat. Very valid for discretionary trading but then there's systematic/algo trading as well. Still they lose money as still a human takes the final call and getting crushed by emotions.