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I have been trading many yrs. I traded through tech bubble & housing, & 9/11. I have traded through “irrational exuberance” and quiet creeping rallys that slowly crush traders as well as fast and furious down markets. One fact I know, I need a daily plan. We all have clay feet!
I have been to the mountain top of trading and back to the valley! have seen traders lose huge fortunes beginning with 1 bad trade. I have lost big money trying to trade like someone else. When I relearned to trade on screens I put a process together to protect me from me.
Every day I am reading,learning always asking questions I move forward daily or am regressing placing myself in a position to not see the 1 trade that can sneak up on me & can set off a huge downward spiral I know it can happen to me I have seen it happen to better traders then I
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PaxTrader777
@paxtrader777
When I talk about paying for my trades what I mean is-i take some early profit to mitigate or remove my risk. eg, if I am long or short of the opening range in ES I cover 1/4 or 1/3 of my position for 4 pt profit to remove my risk and move my stop to breakeven or scratch.
Once I pay for my trade I have 3/4 of my position left, i will take 25% off for profit at the next target and have half my unit still on for the longer intraday target and the last 25% or 1/3 on as my runner.
After I pay for my trade I remove risk and mock in profit, I put my feet up and let the market either scratch me out or pay me and build a position. I learned to let the algos or programs do the work I used to do as a market maker in the NQ pit. It allows me to sit with a trade
Read 5 tweets
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PaxTrader777
@paxtrader777
Most traders struggle with the same issues. Getting in too soon-or to late or not taking a loss when we should have as a result turned it into a much bigger one or not getting out of good trades too quickly or not taking profit when we should only to turn the trade into a loser
2-or getting stopped out and have the market run back in my direction. When I began my career off the floor onto the screens I sat with my notebook and screens and me. The markets go up or down or sideways. Nothing I could change there. What I worked on was managing my positions
3-these errors and mistakes were all rooted in fear for me. Fear of losing money, fear of being wrong or missing a move or leaving money on the table. I had to relearn-or to transfer the skills I had on the floor to managing positions on the screen. I have to accept price action
Read 6 tweets
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PaxTrader777
@paxtrader777
All successful traders have one major thing in common-TRUST! I did not trust myself in the second phase of my career after MFG. I put the minimum in my account so my mistakes weren’t 100k mistakes. I had to restructure my life with good routines, become good habits become trust!
When I learned to trust myself again I could trade successfully again. No matter what was going on in life, I trusted my method,I trusted myself. I took my P&L off my screens and traded my process. My personal life was no longer erratic, so my trading was no longer erratic. TRUST
Everyday is a new opportunity to overcome my weakness. To be the best version of myself that I can. As long as I am working at being a better husband, father, son, brother etc, then I am also working on being the best trader I can be. Everyday!
Read 3 tweets

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Jeffrey Ladish
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The Blockchain Bartender
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While some alts are still drawing higher lows/sitting on massive “supports”, a good 90% of shitcoins look like the first pics setups & are waiting on $Btc to run

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Harshraj O+ve
@meinincubator
Ur True Journey as a #Trader starts only after you learn to ignore & stop Trading on so called Analyst Trading Call, Views, Opinions & start trying ur own Trading Strategy, Plan, System;
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Mystery Trader
@MysteryTrader99
Top bollinger V-bottomed on $INDU #Dow ... Put your seat belts on, equities about to rip... (Yet another confirmation signal $USDJPY about to run as well)
#Dow Daily: First Posted back in April 🤓 . Took longer than other indices but finally breaking out to ATHs. Updated chart with long term TLs, and although we have decent amount of room to run, #Dowjones is approaching a hard limit soon. #Markets #economy #stocks #SPX
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