BobaTrader🧋 Profile picture
Nov 12 8 tweets 2 min read Twitter logo Read on Twitter
Theres a lot of different skills you can learn to make money.

But I believe trading blows everything else out of the water.

Heres why: Image
Financial Independence:

Learning trading can lead to significant financial gains, offering a path to financial independence.

As a successful trader you can generate consistent income, which can be reinvested or used to fund various aspects of your lives.
Flexibility and Freedom:

Trading allows for a flexible lifestyle.

You can trade from almost anywhere in the world, as long as you have a computer and internet access.

This flexibility extends to choosing your working hours, especially in markets that operate 24/7 like futures.
Skill Development:

Trading hones various skills such as analytical thinking, decision-making under pressure, and emotional discipline.

These skills are valuable not just in trading but in various aspects of life.
No Ceiling on Earnings:

Unlike traditional jobs, trading doesn’t have an income ceiling.

Your earning potential is influenced by your skill, strategy, and market conditions, not a set salary or an hourly rate.
Adaptability:

Trading teaches adaptability and continuous learning.

Markets are dynamic, and successful traders learn to adapt their strategies to changing market conditions.
Psychological Growth:

Successful trading requires significant psychological strength and emotional control.

Traders often develop resilience, patience, and the ability to deal with loss – all of which are valuable life skills.
Trading is not a guaranteed path to success and carries a lot of risks.

It requires dedication, continuous learning, and a disciplined approach to risk management.

For those who master it, though, trading can be an incredibly rewarding skill, both financially and intellectually.

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More from @BobaTrader

Nov 12
Becoming a full time trader was the best decision I ever made.

But it wasn't a decision I made overnight.

Here's how I made the shift once I achieved consistent profitability: Image
𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚 𝐒𝐨𝐥𝐢𝐝 𝐓𝐫𝐚𝐜𝐤 𝐑𝐞𝐜𝐨𝐫𝐝:

Before even considering full-time trading, I ensured I had a consistent track record of profitability.

This wasn't about just a few successful trades, but about consistently making profits over a significant period.

I needed to prove to myself that my strategies worked in various market conditions.
𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐂𝐮𝐬𝐡𝐢𝐨𝐧:

I saved up enough capital to not only trade with but also to have a substantial emergency fund.

This was crucial because it reduced the pressure to make money from trading immediately.

I had enough to cover at least six months of living expenses without dipping into my trading capital.
Read 11 tweets
Nov 11
You WILL FAIL as a daytrader

If you do not understand the importance of psychology.

Lets dive deep into trading psychology: Image
𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐏𝐬𝐲𝐜𝐡𝐨𝐥𝐨𝐠𝐲:

Trading psychology refers to the emotional and mental aspects that affect trading decisions and behavior.

It's about understanding the influence of fear, greed, confidence, and discipline on your trading activities.

Essentially, it's the human element in the mechanical process of trading.

This aspect of trading is crucial because markets are not just driven by numbers and data but also by the collective emotions and reactions of traders.

Understanding trading psychology is key to maintaining objectivity, making rational decisions, and avoiding the common pitfalls that emotions can lead to, such as panic selling or overconfidence.
𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐢𝐧𝐠 𝐓𝐫𝐚𝐝𝐢𝐧𝐠 𝐏𝐬𝐲𝐜𝐡𝐨𝐥𝐨𝐠𝐲:

Implementing trading psychology starts with self-awareness.

It involves recognizing your emotional triggers and understanding how they can sway your decision-making.

This means being aware of how fear might make you exit a profitable trade too early, or how greed can lead you to hold onto a losing position for too long.

To implement good trading psychology, traders often set strict rules for entering and exiting trades and adhere to them rigorously to avoid emotional decisions.

It also involves setting realistic goals, keeping a trading journal to track emotional states during trades, and regularly reviewing and learning from past trades.
Read 6 tweets
Nov 5
Once you get to making $100 a day, the next step is getting to $1000 a day.

Scaling your trading sounds exciting, but most people do it wrong.

Heres how I was able to scale: Image
1️⃣Gradual Increase:

Don’t jump from $100 to $1,000 in one go.

Scale up your trading size gradually.

Small, consistent increments will help manage risk.
2️⃣Maintain Risk Ratios:

As you increase your trade size, keep your risk percentage constant.

If you risk 1% per trade on a $10,000 account, risk the same 1% when your account grows to $100,000.
Read 9 tweets
Nov 4
I quit my 9-5 to DAYTRADE full time when I was 24

Since then I went from making $50k a year to $50k a MONTH.

Here are 7 things I learned in the process: Image
(1/7) Risk Management is Everything:

I quickly realized that to make consistent profits, I needed to control my losses. It’s not about the gains I could make, but about how much I could afford to lose while staying in the game.
(2/7) Education Never Stops:

The markets are always changing, and my learning had to keep up.

Books, courses, webinars – every bit of knowledge I gained translated into better trading decisions.
Read 9 tweets
Oct 23
My first year trading full time I was making $5k-$7k a month.

Within 3 years I was able to scale to $50k+ a month.

Heres how I did it: Image
Discipline and Routine:

Consistency is key.

I established a daily routine that included research, chart analysis, and risk management.

Sticking to this routine allowed me to stay focused and make informed decisions.
Risk Management:

Protecting your capital is paramount.

I never risked more than 1-2% of my trading capital on a single trade.

This ensured that I could withstand losses and continue trading.

Preservation of capital is crucial
Read 9 tweets
Oct 17
Want to make CONSISTENT money daytrading?

You need to focus on just ONE strategy.

Heres the strategy that made me millions: Image
When you stick to just one trading method your chances of success increase exponentially.

Mastering one strategy will yield much better results in terms of profits and consistency.

When I first started trading, I dabbled with multiple strategies, getting overwhelmed.

I realized the importance of mastering one over juggling many.
The basics of my trading is using supply & demand concepts to find trade entries and exits.

Supply zones and demand zones are crucial areas on a chart which can predict potential reversals or continuations.
Read 13 tweets

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