#Trading wisdom! ⬇️⬇️⬇️
My 1 liners put together! Long thread!
➡️retweet pls!
1. Be specialist in 1 set-up.
2. Be ruthless with losing #trade. Show complete lack of patience with losers. You can always re-enter
3. Plan your week / day - remove guessing while the market is open
4. When adding new #trading strategy to your arsenal - start it as a consistency challenge (my pinned tweet) with smallest size possible & grow size as you become better
5. Rather than support / levels, think of buyers / sellers [what are scalpers, day traders, swing traders doing near previous high / low]
6. High win rate makes us feel good but if that is your aim - there are other better things to go
7. Most strategy will work if applied to the right market environment. Learning to read market environment is more important to the strategy.
8. #Trading teaches #Trading. Not videos or books
9. Bulls make money, Bears make money but Pigs are slaughtered... Plan your bias for the day & stick to it!
10. Always know the price where you are wrong
11. #Trading strategy has to work with your personality
12. Following someone else's plan is a sure way to stay mediocre at best
13. Survival is the name of the game! Trade small
14. #Trading is an art! What do artists do a lot? They practice!
15. Rookies try to catch every market move
16. Run away from people who preach "risk management is not necessary" like a plague. They have not traded long enough!
17. Market does not have a 50% chance of either going up or down... 50% would make Traders life very easy. It chops around a lot making most #trading strategy edge-less
18. If Technical Analysis made money, why are there so many losing traders? Show me someone who cannot draw lines in a chart
19. Fear of giving back open profit is more powerful than fear of losing
20. #Trading is 90% execution; 10% analysis / preparation / planning
21. Could have, should have, would have does not make money
22. Any 1 trade can cause ruin. 99% win rate strategy will destroy your account if the 1% takes it all away
23. If you think you know - research Dunning Kruger effect
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