Thread-Its real tough decision to become full time trader from a job.Most stuff you must have read all over about capital,spare money,expectation on returns etc..Let me share some truth from my understanding as I have seen both world 9-9 corporate and then full time trading 1/23
What should not force the decision-"passion". Rethink twice if there is really a passion.This passion factor is mostly mirage but what actually lure most is our gambling instinct and addiction.Thin line between gambler wish and passion when comes into trading 2/23
If you have put in lot of efforts like years and years of midnight oil burn,lot of books,hours and hours of videos,tonnes of articles,serious engagement with some group,forum etc to learn,loads of back test or analysis,recording learning,application of learning in real time 3/23
Thread - What I can share with you after 5th anniversary?
Enough is discussed about capital,risk,psychology, trade management, discipline,trading systems etc.These are all basics and one should first get them right before moving further..So not going to discuss about it.. 1/26
Let me try to discuss about things which are less spoken..Mostly about habits and routine to manage ourselves better..Am not saying these are must but just sharing what I feel right as it helped me to steer things clearly in these 5years..2/26
Dig deeper not wider.This is information age and tonnes of info flowing..it all looks great and bookmark everything but you will never read..Some times all looks garbage and you will miss some gems..3/26
Thread about fighting the strong trend.Mostly re-plug from old tweets 1/10
Any professional Doctor,Engineer,Teacher or let it be anyone never forget basics but over time improve from learning and experience..Traders are the category who skip basics and complicate things over time.. 2/10
Learning should improve basics..And one of the quite basic thing is not fighting the gap or drive with preemptive trades..For eg, any clean gap which develops value higher from gap tend to close on gap side.3/10
Small thread from my old journal about few rules I marked when moved from mechanical to discretional way of trading..I have made some improvement for sure and still finding ways to improve 1/8
Every trade comes with some context and logic.When that reasoning gets invalidated stay out of the trade and wait for next info.Don't skip the original reasoning and look for another favorable reason to hold the trade 2/8
It happens all the time.Many scenarios play out to favor yes as well as no for every decision..So first thing is to quit the trade when original logic is negated then think about alternative.Once you are out of the trade you can rationally analyse things in a better way 3/8
My experience from running a advisory service.
Caution : Long thread ahead (promotional)- take diversion :)
I wanted to share something about running a advisory service and sharing my learning.What was the reason behind launching @greentickz and running it? 1/n
@greentickz Of course primary reason is I wanted money for various reasons and thought of offering my learned wisdom and everyday work in exchange to earn money.
Secondary reason is I always believed I have the skill to narrate things in a better in way to reach out people 2/n
@greentickz or in other words have the ability to explain things in a simple way.And Market profile is a perfect subject for me while learning as well for sharing as its all about inquiring the auction as and when its taking place and visualize what is ahead for the auction 3/n
Believe in process and not in systems..Market environment changes time to time and if you plan to stick with just few systems then going gets tough but a process to explore,practice,adapt can help you over time.Better way is to get the context of everything 1/n
Learn the context of everything..Let it be price move,settlement mechanism,option pricing,inventory mechanism whatever it could be..Try to go beyond myths and rules but explore context behind it..That could open new avenue further 2/n
Avoid following people to take decisions.Avoid seeking answers for your decision.Own responsibility and make it on your own.Following people should be only to explore new areas to widen knowledge.Everybody fails at times and random following could only lead you to failure 3/n