Profile picture
Trading composure @yvanbyeajee
, 8 tweets, 1 min read Read on Twitter
THE ROLE OF SELF-KNOWLEDGE IN DISCRETIONARY TRADING —A THREAD.

[Traders doing other types of trading might also find this useful.]

1./ Your own mind is the starting point of all things. All that you truly know is what is within you. That is all you have access to.
2./ So, you can only understand others and things that are outside of yourself insofar as you understand yourself.

For everything we understand and make judgments about are only reflections of us.
3./ In other words, you can only see, like, or dislike something (in a person or thing) that you see, like, or dislike somewhere within yourself first (in some facet or another.)
4./ In the same way, to understand others and be able to predict their behavior (collectively), you need to understand yourself first.
5./ The herd mentality is a contagious phenomenon. To prevent it from sneaking up on you, it's useful to train yourself to read, understand, and manage skilfully your own emotions and urges.
6./ In improving your ability to read and predict your own potential urges, you can then finetune your ability to predict others’ collective behavior too.

Prediction is an estimation of what is possible given a certain set of observed conditions.
7./ By no means does prediction mean or imply 'a sure thing.' That's the mistake many traders make.

Again, prediction is only an estimation, informed or otherwise, and it exists on a continuum, from low probability to high probability.
END./ With self-knowledge, you can become good at making predictions that have higher odds of success.

And above all, you can become good at taking advantage of those predictions.
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Trading composure
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!