I think the market will correct to a degree when the Fed tries to taper. I also believe that like a junkie who knows they have a date with rehab, it will binge up to its check in and as they say at Betty Ford, it will be 'coming in hot'
Heres a simple rule for you young PMs that are making way to much money for your collective IQ, dont take your foot off the gas until the Fed actually stops printing.
More than 30 yrs ago my trading and my wealth improved dramatically when I made the decision to never let a loss exceed 8% max! I decided that if I was going to blow up it would have to happen one small loss at a time. Going forward I never even had a large double-digit drawdown.
Over 18,000 pages of individual stock precedents in my personal model book. I've been compiling by hand, stock by stock since the 1980s... most of which I personally traded. And I'm still adding to it today!
Today's buy and never sell stocks like Apple, Amazon, Google, etc. will turn out to be no different than other periods in history when over confidence led to losses and decades of under performance.
https://t.co/Thzte0c4tM
When you're in a nice trade, great entry, solid plan, well thought out target and you're getting that itch to tap out early, remember what the old man told me on the NYMEX floor 'Hey kid, if you want to take the train to California, you don't get off in Chicago'
This is my only Tweet on this subject. If $BTC has wide-body candlestick bar (WBB) through 12,250 on big volume expansion, then much higher probability for 🚀🌕, or at least 22350
Climbing out of a hole in your trading account remember your P+L acts like any chart on the planet, theres resistance at even on the year. Why? Cause you relax your sphincter and go back to trading with the same attitude that got you in the hole. You can never relax in this game
Chapter 9 of @markminervini classic Trade like a stock market Wizard. Follow the leaders—they should make their lows first. Now is the time to be getting your watch lists ready—see Amazon chart vs Nasdaq 2001-2003.
Your psyche and confidence will be as important as any strategy or chart knowledge you will learn over your career. Good trading is about good execution and good execution is about confidence and positive mental attitude. The mind is a powerful tool, good and bad
One of the most important tip from Chinese experts = use high flow machine when covid 19 patient’s oxygen start desaturating to avoid intubation!!!!! This virus can cause sudden drop in oxygen level out of nowhere @CMichaelGibson@FYang_EP@terrorpandaz