Post

How to get URL link on X (Twitter) App

On the Twitter thread, click on or icon on the bottom
Click again on or Share Via icon
Click on Copy Link to Tweet
Paste it above and click "Unroll Thread"!
More info at Twitter Help

Madan

Jun 26, 2020 • 7 tweets • 2 min read • Read on X

#MwMnuggets

Top traders who last lead well balanced lives ☺️

If we do not take care of our needs when we are away from the markets, then our mind will act to fulfill those needs while we are in the mkt.

Think about it for a second ☺️

(1/7)

If we dont play or add excitement to our 'out of the mkt' life (now i can hear some mind voices - 'what is out of the mkt life? I breathe mkt 24/7 ), then those needs will be met while we are in the mkt.

This eventually leads to disaster, to say the least

(2/7)

Being 'out of the mkt' intentionally (not the off mkt hours ☺️) is actually a trading task.

Many ppl want to be in the mkt to avoid personal issues - like drinking to avoid facing reality. Market is not a place to rectify our personal issues.

(3/7)

Mkt has an uncanny way of giving immersive experience and rob us out of our money.

It is important to exercise, take a vacation (for excitement) and even taking a break during the day. But, do not take the mkt with you when you do those things.

(4/7)

When we start worrying about trades that we might have missed and 1000 other possibilities, then we are like a puppet on a string & the mkt is pulling our strings ☺️

Many folks go for vacations but they still carry the mkt with them mentally & they call this 'passion' 😃

(5/7)

If we take the mkt with us, then those parts of us that wanted the vacation or the break will disrupt our performance during those times in which we need full attention to the mkt

We are all stuck now cos of COVID19 but hope you get the point.

(6/7)

Long story short - consistent top traders keep their lives in balance and and their pleasurable needs are always met outside the markets 😁

Mkts are never a place of fun/hope/excitement for them. If it is, then do not get surprised with your results.

Happy trading all !!

(7/7)

• • •

Missing some Tweet in this thread? You can try to force a refresh

This Thread may be Removed Anytime!

Twitter may remove this content at anytime! Save it as PDF for later use!

More from @madan_kumar

Madan

@madan_kumar

Jun 8, 2023

"A mind needs books as a sword needs a whetstone, if it is to keep its edge".

Have been interacting with many traders and realized that many folks have a limited/lack mindset on 'making' money.

This thread is to promulgate the concept i read in 2 books

1/9

It says that many a times, we are the one standing between a wealthy and our mediocre life 😊

Both these books were written 2500 years apart but still deliver the same message essentially

Both books elaborate upon the importance of wealth in a person's life.

2/9

Left - Kautilya Arthashastra - Chanakya - approx date 300 B.C.

Right - Secrets of the millionaire mind - T Harv Eker, 2005

A poor but well meaning social worker will not be able to change / help society without deploying wealth. He might have the intention but no means

3/9

Read 9 tweets

Madan

@madan_kumar

Mar 31, 2023

Subjectivity in risk management --

I would like to briefly talk about risk mgmt in this thread (something that is not talked about much anywhere else)

The whole question of risk management is far from an objective subject.

1/11

One needs at least one subjective piece of the puzzle to put it together: an individual’s acceptance to risk.

That is subjective, meaning no rule says how risk-averse you should be. That is an integral part of your emotional makeup 😊

2/11

The problem is that human nature does not operate to maximize gain but to maximize the chance of gain, i.e., maximize the # of winning trades & minimize the # of losing trades.

The result is not only risk-controlled but profitability is also controlled 😆

3/11

Read 11 tweets

Madan

@madan_kumar

Dec 5, 2022

Someone sent a WhatsApp message about how to trade without emotions, and i think there is a huge misconception going on that if you are a mechanical /system trader, you trade without emotions..😄😅

Nothing could be further from the truth.

(1/5)

Science says we express our emotions in the same six ways. Many believe that when a trader is successful, he trades without emotions.

Let me break the bubble now - one can't eliminate our emotions, nor should you. We have to keep them from becoming destabilizing.

(2/5)

If we don't feel the pain of a loss, then we will become desensitized to losing, and our financial survival will be tenuous.

And, in many ways, large profits are even more insidious than large losses because they cause overconfidence and a false sense of ability 😅

(3/5)

Read 5 tweets

Madan

@madan_kumar

Oct 25, 2022

Unresolved Trauma !!

If we live life with the attitude that 'my trauma messed me up (the proper word would be the F word but not in the public domain 😊) and thats why I am the way I am, instead of learning, healing and ...

1/4

.. growing, then we are now the problem. We are not responsible for our traumas but we are responsible for breaking the cycle and not hurting the people that love us.

This is actually very important in trading. Let me tell you how ---

2/4

If we bring those unresolved traumas with us into trading, they will attempt to resolve themselves in the markets. It will create situations that will enable us to face financial trauma in order to identify those stored feelings inside us

3/4

Read 4 tweets

Madan

@madan_kumar

Aug 31, 2022

https://twitter.com/madan_kumar/status/1559540334832472064

Recently I wrote a thread about Trainers, coaches, and mentors. Here it is --

https://twitter.com/madan_kumar/status/1559540334832472064

Following up with that thread, I am going to write about a mentor's essential qualities in this one.

Please bear with me for the length of this thread 😊

1/15

1. He cannot be a teacher only. His primary occupation must be trading (albeit a consistently successful trade).

How to figure that out? Honestly, No idea. It is not as easy as finding the sun in the morning, but some of the pointers below might help 😅

(2/15)

2. He should have seen several market cycles. Higher the number of years of full-time experience under his belt, the better it is. Start with 10 years + at least

3. He does not have to give it away for free (if you ask me personally, it’s just pie-in-the-sky)

(3/15)

Read 15 tweets

Madan

@madan_kumar

Aug 16, 2022

Trainers. Coaches and Mentors --

Many folks are back in vacation mode - much needed one actually.

Well, the topic discussed in this 'LONG' thread has not been confabulated much in the trading books/seminars and articles but nevertheless, a very cardinal topic (1/24)

Think about this...Before we embark on a road trip, i always wash my car (along with filling my tires with air and the tank with petrol). Not only is a clean machine more pleasing to the eyes, but a clean windshield is more transparent to the eyes 😅

(2/24)

This pristine condition however, is about as ephemeral as that freshly filled tank of petrol.

Between the smoke &dirt, to pollution & oil, it is amazing how quickly, dirt & gunk can collect on a clear windshield and morph it into an opaque sheet of glass.

(3/24)

Read 24 tweets

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Share this page!

Enter URL or ID to Unroll

Madan

Try unrolling a thread yourself!

More from @madan_kumar

Madan

Madan

Madan

Madan

Madan

Madan

Did Thread Reader help you today?

Don't want to be a Premium member but still want to support us?

Send Email!