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Ripster

24 Oct, 3 tweets, 2 min read

#tradingtips #newbie 1/3
You are new & lost money, studied hard, got a strategy but scared to get back?
✔️Take 50 trades with 1 contract or 100 shares.
✔️Prove to yourself that you can win 30 trades atleast out of 50,then scale
✔️Find conviction/consistency first,$$ comes later!

#tradingtips
#newbie 2/3
Once u can win 50/60% of ur trades; find out do u win big and lose small? Is ur Win 2R 3R? If after winning 60% times ur still down...go back to drawing board...find new strategy..do test run again until u start to win more than u lose!!

#tradingtips
#newbie 3/3
Does not matter you win 8 times out of 10 if u give all up in 2 loses.
Trading/Investing to be successful u can't do Random. Probability and Statistics of your System is what matters!

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More from @ripster47

Ripster

@ripster47

1 Sep

#tradingtips #goldenrule You don't need to win 90% of time to succeed. You can win 40-50% of time and still be at a top and make $$$ and succeed.Key is to have winners many times bigger than losers. And to do that we need discipline and Rules. Keep #winnersbigloserssmall 1/3

#tradingtips #goldenrules Letting winners run rule is another way of saying to keep winners bigger than losers.We as emotional biengs are impatient with our winners and patient with our losers,to succeed be patient with winners and impatient with losers. 2/3

#tradingtips #goldenrules Many a times we find rself going no where and portfolios going lower even when we have a winning strategy and we have so many winners; because , when we lose we wipe our last few winners.Conquering your mind is the final step after u master a system 3/3

Read 4 tweets

Ripster

@ripster47

18 Aug

#tradingtips #entry #riskreward 1/5
If price is extended from ema or makes New Highs and you slap the ask, you already skew your risk reward (in case of short you slap bid at new lows)
You have to let entry come to you for best risk reward, find pullback in the trend!

#tradingtips #entry #riskreward 2/5
When you chase, you are one providing liquidity to someone who is going to exit at that price, so you will be immediately down or negative in your position.
Even though our mind is wired to give us FOMO and we click the market buy..its wrong

#tradingtips #entry #riskreward 3/5
rather than skewing your risk reward chasing 5 plays....wait for a pullback in trend on 1 play and have size with conviction with clear support/risk off level...same if shorting...wait for resistance level bounce

Read 5 tweets

Ripster

@ripster47

22 Feb

#tradingtips #riskreward #scaleinscaleout 1/4
So a conviction play that you are swinging you can also trade around the core. Core being you size that you never touch.
Risk Reward is based on timeframe you are trading.
If you looking for swing, it is off 1 day/1week charts

#tradingtips #riskreward #scaleinscaleout 2/4
or 1 Hr charts..

For overnights/or intraday 10 min / 1hr can be used.

Risk is always support/trendline/ema etc stop level. Reward is based on timeframe you are trading.

#tradintips #riskreward #scalein #scaleout 3/4
Example
Trading 1K shares of $DMTK
73->82, Scale out 200 shares there, another 200 at 87
If it crashes back to 70 add back 400 shares , u still had 600 core, back to 1k position, goes 83 sell 300 scale out, 300 at 87 and then so on

Read 4 tweets