Sparrow Profile picture
20 Nov, 42 tweets, 3 min read
Repeating the same mistake is self sabotage.

By monitoring ur mistakes & continuing to work on urself u can minimise their impacts.

Key to generate above avg profits.
Your reality is shaped by your beliefs.
U don't trade the markets, u trade ur beliefs about the market.
Contributors in trading:

1. Trading psychology: 60%
2. Position sizing: 30%
3. System development: 10%

Ed Seykota & Tom Basso. (Market wizards)
A superperformance trader is totally committed to being the best and doing whtever it takes to be the best.
If u blive u must struggle to become successful then u probably will struggle a lot.
Realise that u r the root cause of ur results in trading.

When u do that, u hav started on the road to success.
Accept all the mistakes and let the Market become ur financial University.
If u aren't committed then u tend to do a dance with any obstacle u encounter.
"I created the results" : Responsible Trader.

Life is a process. There is no success or failure. There are only feedbacks.
Empower urself.

The most powerful two words one wud ever listen from someone. This is the time. Its now. Not tomorrow or any day. Now.
Attitude vs Results

Pessimistic: loose
Neutral: average
Empowered: superperformance

U must know deep in ur heart that u have won and feel grateful for ur success.
The most powerful change happens at the spiritual level.
An uncommitted person may do a dance with the obstacles that could last a long time.
Celebrate your losses.
When u want to b right, u r not dealing with obstacles. U r forcing things.
If the market tells u its time to get out at a loss, do that.
If u fight with losses then u cud easily turn a good trading system into a losing system.
Good traders realise that they can have 10-20 losses in a row. Its part if the business of trading.
Always talk to urself and tell ur mind: I won't ride craps ! No matter what.
Always welcome new information, never disregard them.
The behaviour u most want to change r the mirror images of the qualities u value the most. Look within. Invert.
Professional traders know it is possible to lose 1L which is just the trading cost but, retail traders r much less likely to pay 10k to attend a course that cud reshape their trading. That's a losing mindset when u r committed.
The thinking behind such mindset is that the loss is a cost of doing business whereas the course is an uncessary cost.

Legendary traders always learn. Its a fact.
Put the process before the outcome.
Make friends with ur inner self who have beliefs tied to the core.
If one person can do something, everything else can do it too.
Being able to move to another perceptual position is one of the critical aspects of genius and greatness.

Start practicing.
Flaws: Most people want to be right all the time.

They want to make money on every trade.
We live in a polar world. Think both ways. Like in trading we have both profits and loss. One cannot ignore one. Both exists together. Try to appreciate both.
People who value profits too highly tend to take them quickly.
Whatever u cannot accomplish in life is a model of stuck state.
People get what they want out of the market-
1. Excitement
2. Punishment
3. Justification
for their emotions.

Market wizard Ed. Seykota.
If U cannot b perfectly content with nothing, u certainly cannot b content with anything.
All possibility is infinitely interesting, whereas some possibility is somewhat interesting and one possibility is a problem.
Give up being right and embrace every possibility.
U need to develop a routine that will keep u performing at a top level.
U need to set the rules to guide ur behaviour & b able to withstand anything that might cause u to break those rules.
U need to set rules bfore u trade & rehearse ur disaster plan always.
All great traders develop systems that fit who they are.
People are brainwashed to think that success is picking the right stock.
Picking the right stock and holding it until u dies is not the magic formula for success unless u r very very lucky.

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01.10.2020 Image
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ANUP engg: A combination of all:
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4. Wedging up handle.
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it shows the strength of the stock to nifty. so if a stock is stronger than the index, this line wud go up. if the index is weak and the stock stable then also it wud go up. other cases also valid. so when there are opposite moves btwn the stock move and relative strength line,
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27 Sep
Tweetstorm: Weekend learning Ross haber notes part 2:
@RichardMoglen did a fantastic job in this one. Relating concepts with charts is just so great.



1. What a chart looks like
2. Then drop down to fundamentals
3. Earnings acceleration
4. Sales picking up
5 annual: earnings
Bill told: estimates are conservative

ROE: 17%
Institutions sponsorship: pickup
Insurance, cos, trusts increasing their sponsorship
Quality of them is also important
Top notch mutual funds buying it.
Idea is to ride their good tails.

How many funds ?
-big sponsorship
-increasing for quarters

*How much as too much?
Use it as secondary indicator
Smart & successful funds
Not necessarily the funds own the stock it doesn't mean that manager is great.
Read 11 tweets

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