🚨EXTRA BONUS THREAD OF STUDY MATERIAL/MOTIVATIONAL TWEETS I LIKED:🚨
This will also include some other awesome threads I’ve read in the past that are SUPER useful
Awesome advice from @singlesdoubles about stop losses. Reasoning, levels like this are where beginners would normally set stop losses because it’s usually under a psych support, and that’s where market maker try to stop loss people out before going up again
Here is a trading rules piece that has been sitting in my camera roll, totally forgot who made it but whoever did is a legend, read all the way through, it’s awesome
View this google document from @NotGuruGruden it will take about many thing I have talked about but talks about even more as well, super helpful. Gives you more examples
Lastly, I can’t teach you guys everything. That comes with screen time and experience. If I could only tell you one thing to take from all of this, it would be to get as much screen time as you possibly can, that is the only way you will learn, that and experience.
I hate to say this, but if you want to learn, you will 99% HAVE to and PROBABLY lose money starting out, and losing money will teach you more about yourself, it will show you the emotions you have when trading, and better help you to control them for the future.
@MrZackMorris literally lost $50,000 or something like that and had to restart from $800. Look where he is now.
Other than that, I can’t tell you guys who to trust on twitter. People have their opinions on different groups. Some people think Atlas is a whole scam, but at the end of the day, you have to realize that all these FURUs and famous stock traders all started in the same exact
place as we did. Trust who you want, and the more you are in the fin twit community, the more you will start to understand.
I truly thank you for reading all of this if you got here, it took me about 10 hours (2 days) to put this all together despite all the homework I have, and one day when you guys feel comfortable with sharing your knowledge, I suggest you capitalize on that.
Educating others helps not only others, but it helps YOU reinforce ideas into your head that are basic fundamentals that are very important to know and help make you a better trader.
I will continue to keep uploading chart reviews at least 3 times a week, depending on my homework, and once my Christmas break comes I’m going to start a YouTube channel that will be a series that goes from “How to read a candlestick” all the way to option trading
I will also be looking to start a podcast as well, depending on how much work it is and if I will be able to manage it with school and sports, so that’s something to look forward to.
I am motivated AF and my goal is to become a millionaire by this time next year and there’s a reason I set my goal so high.
With that being said, read this tweet from @RHODESA_ for my closing. If you aren’t already go follower him, he’s a great trader and you will learn many lessons (especially psychology) from him along the way
Finally, just understand the market is made to make you lose, 90% of traders fail not because they are bad, but because they give up, DON’T GIVE UP. You have to learn the games that market makers play (such as keep dropping the price to try and get people out)
in order to better anticipate what’s going to happen, and get out for profit.
Something I really love is this: If you make a trade and get profits from it, but didn’t follow your rules, that is a FAILED trades. If you make a trade and lose money, but you follow your rules, that is a SUCCESSFUL trade. Remember this.
Following your rules is very important and @singlesdoubles does a good job at emphasizing this all the time, and it’s why he is so successful (at the time of writing this he is on a 34 green day streak).
Lastly, I am profitable on one of my accounts, and not the other, and I still have a long ways to go, but if you guys know @ripster47, he educated people for about 3 years while all at the same time he wasn’t profitable and he was still losing money.
It can take years to become profitable, it doesn’t just happen overnight and people have to realize that.
I can tell you to watch all these videos and read 50 books, but I really believe (and have experienced thus far), that I have learned the most through experience. Watching better traders is good, but that’s only part of the puzzle, you NEED to experience everything.
I did this all for free, and I don’t have any paid services or anything like that, and I won’t ever ask you for money, but if you would like to tip me for any of this, I would be extremly grateful
cashapp $dodgyyyyy
Venmo - ryanw.27 paypal.me/RyanWilson863?…
That’s all, thank you!
Venmo is Ryanw27 not ryanw.27 my bad
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they will flush (meaning people take profits when market opens) and bounce in the first 30 minutes ending up in a 50%+ run. This is where you have to watch volume, if you notice a TON of premarket volume (meaning the premarket volume is already HIGHER than yesterday’s total
volume), AND then the volume triples at market open, that’s usually a good sign and results in a huge run throughout the day (not all the time but a good probability).
I have a little secret for you though, if you are new and this seems like all too much, follow people like @notoriousalerts@Mini_Tradez (you will find others) who post alerts throughout the day. They usually are already on top of the stocks that day
I’ve been getting TONS of dms asking how I find my plays/setups and I’m going to give you the most honest/helpful answer I have. This is for option and shares plays.
When I first started trading, I was like you guys, I would always DM/reply to people asking how they found their plays and I would get a TON of different answers. Overtime, this is what I learned:
This is going to be a lot to explain, and I’ll try to organize this the best I can, so try and bear with me. It will probably take two threads to explain all the different options to find stocks, so the next thread will be linked at the end of this one.
Ascending triangle on $SPY (3 min), paper traders try practicing playing the breakout (wait for 5 min close above line for confirmation). Super popular setup you should know.
BTW this won’t always break above, could break below which is a good time to short or buy puts for more experienced traders
It broke under, which means could see drop to 446. Under 446.40 would be confirmation because that was the last higher low
At this point, you know tons. You have put the time in studying, you are either a hard worker or a smart kid in school lol, but some of you guys (not all) are still not seeing success. This is the level where you would learn/know options.
Before I get into the psychology part of trading, which in my opinion is the most important part of trading, I’m going to go over some options stuff. If you don’t know what options are, you’re going to have to watch a couple videos to learn them first.
Before thinking about trading options, I definitely recommend paper trading them first on Think or Swim (TD Ameritrade) because they can be VERY risky. I would also put 2% or less of your account in them when first starting to play them on your actual account
Alright, you know a lot at this point . You are a master at supply and demand, know support resistance, know the indicators you like/use, and can identify trendlines.
I’m going to be talking about volume in this thread and at the end of this, you’re going to realize that price action is good to use, but price action + volume is the GREATEST combination you can ever have in trading
Volume, or volume price analysis, is the one of the most important skills to know in trading and you should definitely drop a follow to @Brady_VPA as he is the volume master where I learned everything regarding volume from.
So, at this point, you should know how to use support and resistance, and you should know how to chart levels and candles pretty easily
You also may OR may not try to use a million indicators on your charts thinking the more you use, the more money you will make
After watching the price action video from level 2, you should immediately watch this video right here:
Ok so at this point, you have a decent amount of knowledge and one thing that starts to make you become a successful trader from this point, is SURROUNDING yourself with other people like you that are motivated to learn, AND 10x BETTER TRADERS. (VERY IMPORTANT)