@_spikeet revolutionized the game for u mofos. check em out. and no im not paid to promote em. if anything im lowkey jealous that u guys can now access data in seconds, that used to take me MONTHS of all-nighters to collect & track MANUALLY. To put it in perspective:
@_spikeet My spreadsheets had 10-30+ columns per ticker (row) depending on what I was tracking.
then 100s to 1000s of rows , and each ticker took me 8 to 20 minutes to manually fill across, so about 10min per row.
Do the math.
Sometimes my friends would stay up all night with me to help
@_spikeet but that didnt last long b/c they got bored/burned out super quick lol Then at one point I tried to get my GF to help (especially with when I was creating the lowfloat Volume Forecast). But after 2 days she quit too lol. And i dont blame her, it was tedious & boring as FUCK.
Eventually it all paid off, but I spent years populating spreadsheets that u guys can now generate in SECONDS. let that sink in. YEARS vs SECONDS. Imagine if i had that power back then at my fingertips. So yeah, take full advantage of those mofos. u have no clue how lucky u are.
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The more I answer questions the more I realize how full of shit this industry is. the amount of scammers & "gurus" out there who lure beginners in w/ unstainable strategies that offer short term satisfaction but long term failure is astounding. They lure u in with shit like this
Meanwhile the reality is THIS.
and u guys are EATING this shit up like it's fucking cheesecake.
STOP falling for this BS.
Most of my time spent on DMs is literally me helping ppl UNLEARN the shitty habits they built up listening to fuck ass scammy gurus that blow up themselves but then refund with YOUR money
That's precisely why I say that I never use basic S/R levels as areas to risk off. Read all my smart vs dumb money threads. big players are liquidity hunters. All they care about is getting easy fills (from retail's market orders), & stop losses are LITERALLY liquidity gold mines
and where to most ppl place their stops? around basic ass support/resistance levels & round numbers. That's why basic S/R levels actually fail WAY more than they hold. Ppl just have confirmation bias & only focus on the few times that they work, then say "sEe? iT rEjEcTeD hErE"
but for each time a S/R level worked, I can show u 39 other examples where it didnt. S/R is not enough UNLESS it overlaps with several other supply/demand indicators ( MAs, bagholder areas like volume profile or #vwapBoulevard , open interest clusters, mean reversion zones etc
When I say demand/supply zones i'm not JUST talking about basic technical analysis 101 support/resistance levels. Many things contribute to demand or supply and some of the most accurate ones are not even on the chart.
why do u think sometimes a stock will have ZERO obvious resistance but keep rejecting?? or a stock will have zero obvious support levels on the chart but keep holding dips everytime? stop thinking the chart has all the answers. we'd all be billionaires if it were that simple.
That's why I always say find a setup & master it. There is no universal indicator that works for all asset classes. something will work with a 80% winrate on setup ABC but have a 20% winrate on setup XYZ. some things that work like MAGIC on lowfloats dont work at all on LCs etc
Most ppl enter the trade first then place their stop a certain amount away from their entry. "i'll enter here and just risk X cents". That's wrong. Your stop loss should ALWAYS be protected by a key supply (if short) or demand (if long) area. That's the whole point of a stop loss
it has to be protected by an area that the stock is NOT likely to breach. If ur entry is too far away from such an area (thus fucking up ur R/R) then ignore the trade. That's why I always say exits come before entries. If i cant find a good area to risk off then fuck the trade
That's also why I want my stop to be protected by as many factors as possible. A basic ass support/resistance area is not enough. I need multiple safeguards. My stop loss is my quarterback. I want EVERYBODY protecting that mofo. throw in 2 tight ends & block the RB if we have to
Honestly 1 of the reasons I want to spend less time in front of screens is simple. There is NO END to this game. Uwill NEVER be satisfied no matter how much 💵u make. And the more 💵u make, the LESS that 💵means to u, so u endup increasing size endlessly just to get the same rush
When u're a beginner trader, making ur first $100 in 1 day feels like the best day of ur life. U're excited & want to tell everyone.
Fast forward 1 year later and making $5K in 1 day feels like the worst day of ur life b/c that's ACTUALLY a day where u underperformed.
Then add another year & u see where this is going. Eventually u get to a point where u're making entire SALARIES in 1 day and still feel like like u underperformed. U become so detached from reality that u forget that some ppl will never even see that kind of money in a lifetime
Ive obsessed over this stock shit for years, and all those years of research, tracking, observing and trading have shown me that there are 5 undeniable and timeless truths about traders (smart money vs dumb money).
Here are the top 5 facts, use those to sharpen your trading:
🎖1 - Discipline
Starting with the most obvious one, if u already read my tweets.
Smart money are knowledgeable & disciplined.
Dumb money are (contrary to popular belief) knowledgeable enough to make money, they just dont have the discipline to STICK to what they KNOW works.
⌚ 2- Doomed to fail
Dumb money are only patient when they're losing. In short, they take profits on winners WAY too fast, but hold on to losers WAY too long. small winners, HUGE losers.
Smart money spend little time on losing trades but milk the FUCK out of winning trades.