Ten Ways to Be a Trader NOT a Gambler:
A Thread 🧵 👇
A Thread 🧵 👇
Trade based on the probabilities NOT the potential profits.
Trade small position sizes based on your account size NEVER put your whole account at the risk of ruin.
Trade a plan NOT your emotions.
Always enter a trade with an edge that can be defined DO NOT trade with entries that are only opinions.
Trade based on quantifiable facts NOT predictions.
Trade after extensive research on what works and what doesn’t. Don’t trade in ignorance.
Trade the correct position sizing with risk management is your number one priority and profits as a secondary concern.
Trade in a way that eliminates any chance of ruin NOT to get rich quick.
Trade with discipline and focus DO NOT change the way you trade suddenly due to winning or losing streaks.
Trade in the present moment and DO NOT get biased due to old wins or losses.
Summary: Trade like a casino not a gambler.
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