Some trading advice I just made up:
⦿ Losing $1 hurts more than winning $100 feels good.
⦿ Making money is easy, keeping it is hard. That's a lie, making money is not easy.
1/7
⦿ Losing $1 hurts more than winning $100 feels good.
⦿ Making money is easy, keeping it is hard. That's a lie, making money is not easy.
1/7
⦿ No matter how many charts/stats/tables/hot tips you have, you're still just guessing and hoping.
⦿ You can lie to friends and family and strangers, but never lie to yourself.
⦿ Your system is probably crap and no better than a coin flip.
2/7
⦿ You can lie to friends and family and strangers, but never lie to yourself.
⦿ Your system is probably crap and no better than a coin flip.
2/7
⦿ If you factor fees/comms/taxes into your P/L calculation up front, you won't waste so much time being angry about those necessary expenses later.
⦿ Businesses only care about you if that concern translates into revenue (directly or indirectly). Your broker is a business.
3/7
⦿ Businesses only care about you if that concern translates into revenue (directly or indirectly). Your broker is a business.
3/7
⦿ Blaming Twitter accounts' advice for your loss may relieve a little pressure, but it was still YOUR money you lost.
⦿ Tight stops are the prevent defense of trading - they just prevent you from winning
⦿ Gurus make their money off subscriptions, not trading.
4/7
⦿ Tight stops are the prevent defense of trading - they just prevent you from winning
⦿ Gurus make their money off subscriptions, not trading.
4/7
⦿ Paper trading is fun but useless. Just because your paper trade filled, doesn't mean your cash trade would have. The win rate is artificially inflated to get you to start trading real money.
⦿ There's a reason more than half of FinTwit has been trading less than 9 years.
5/7
⦿ There's a reason more than half of FinTwit has been trading less than 9 years.
5/7
⦿ Being a permabear or permabull means you've resigned yourself to losing about half the time.
⦿ If your spouse makes that Concerned Face when you tell them you're about to trade for a living, you can imagine their Divorce Face when you tell them how much you lost.
6/7
⦿ If your spouse makes that Concerned Face when you tell them you're about to trade for a living, you can imagine their Divorce Face when you tell them how much you lost.
6/7
⦿ Money is great. Money is important. But no one on their death bed wishes they had spent more time at the office. Get what you need and leave the casino.
Good luck, s̷u̷c̷k̷e̷r̷ friend.
7/7
Good luck, s̷u̷c̷k̷e̷r̷ friend.
7/7
