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Steve Burns Profile picture
Steve Burns
@SJosephBurns
I tweet about trading, financial markets, & financial freedom. I also share what I find inspiring & motivating. I’m a trader & the founder of https://t.co/TT0duLcHc3
41 subscribers
Aug 19 • 7 tweets • 3 min read
6 Lessons most New Traders Learn Too Late in their Journey: Thread 🧵👇 Image Risk/Reward Ratio Is More Important Than Entry Signals.

Your potential maximum risk of loss versus your potential for maximum gain on any individual trade is more important than an entry signal.

An entry signal can just be an indication that there is a greater probability of one thing happening than another.

An entry signal without the context of position sizing, stop loss, trailing stop, and profit target is meaningless as it doesn’t define your risk/reward ratio.
Mar 22, 2023 • 11 tweets • 2 min read
10 Economic Lessons from Professor Milton Friedman Noble Laureate and founder of monetarism: 🧵👇 "Inflation is taxation without legislation, silently robbing the fruits of your labor." - Milton Friedman
Feb 3, 2023 • 5 tweets • 1 min read
U.S. government is monitoring a suspected Chinese surveillance balloon that has been moving over northern states over the past several days. (FN) Pentagon spokesperson Brig. Gen. Pat Ryder said during a briefing on Thursday afternoon that the U.S. government has detected a high altitude surveillance balloon over the continental United States.
Jan 30, 2023 • 9 tweets • 2 min read
4 Types of Trades

All your trades should end in one of four ways: ⬇️ 1. A small win: You take a profitable exit, this is usually a short term trade.
Jan 28, 2023 • 13 tweets • 2 min read
New Trader Blueprint To Profitable Trading ⬇️ 1/12 Educate yourself on the basics of trading your market through reading online articles, books, videos, and eCourses to master the basic vocabulary.
Jan 27, 2023 • 7 tweets • 1 min read
If there are any holy grails in trading, these are it: 1/5 Big wins and small losses. With a 3:1 risk/reward ratio you can be a winning trader with a 33% win rate.
Jan 26, 2023 • 8 tweets • 1 min read
7 Habits Of Highly Destructive Traders⬇️ 1. Blaming outside forces for trading results is a destructive behavior. High frequency traders, market makers,& irrational markets, give an undisciplined trader license to make reckless trades. Less responsibility taken for results, the more destructive it can be with an account
Jan 18, 2023 • 13 tweets • 2 min read
The Anatomy Of A Successful Trader: 12 Key Traits: ⬇️ 1. From the start the traders that are successful are committed to doing the needed work to overcome the learning curve.
Jan 17, 2023 • 11 tweets • 1 min read
10 Trading Truths: ⬇️ 1. The markets change, all signals don’t work in all markets. What worked in a trending market may not work in a range bound market.
Jan 16, 2023 • 11 tweets • 2 min read
Think Like a Trader: 10 Psychological Trading Rules: ⬇️ 1. Never trade so big that you end up watching every price tick even though you are not a day trader.
Jan 14, 2023 • 11 tweets • 2 min read
Warren Buffett's partner at Berkshire Hathaway is a business genius just like him.

Here are 10 of the best Charlie Munger quotes: ⬇️ “In my whole life, I have known no wise people (over a broad subject matter area) who didn't read all the time -- none, zero. You'd be amazed at how much Warren reads--and at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out.”
Jan 13, 2023 • 11 tweets • 2 min read
Golden Rules of Trading: ⬇️ If you don’t have a full trading system with an edge stop trading until you develop one.

Never trade anything you don’t understand completely. Don’t trade stocks, futures, forex, crypto or options until you understand the risk and how they work.
Jan 11, 2023 • 9 tweets • 2 min read
Formulas for Managing Trading Emotions: Losing Money – Trading Better = Despair

Do not despair look at your losses as part of doing business and as paying tuition fees to the markets.
Jan 10, 2023 • 11 tweets • 2 min read
10 Price Action Strategy Trading Tips: ⬇️ 1. Where price is in relation to the moving average in its time frame can show the current trend.
Jan 9, 2023 • 11 tweets • 2 min read
10 Things That Screw Up a Good Trading System: ⬇️ 1. Not honoring your original stop losses. Big losses make winning systems losing ones. Profitable trading systems keep losses small.
Jan 7, 2023 • 8 tweets • 1 min read
The Top 7 Things Traders Must Manage For Success: 1. Traders must be great risk managers.

“At the end of the day, the most important thing is how good are you at risk control.” - Paul Tudor Jones
Jan 6, 2023 • 11 tweets • 1 min read
10 Important Trading Lessons & Tips ⬇️ 1. If you are not trading a quantified strategy then you have no edge and your actions are just random in nature. You will just have strings of luck and misfortune with no consistency.
Jan 5, 2023 • 11 tweets • 2 min read
10 Metrics that Lead to Trading Profitability ⬇️ 1. Expected win versus loss percentage. Your winning percentage performance is the first step to profitability. Your risk/reward ratio determines the win percent you need to be profitable.
Jan 4, 2023 • 11 tweets • 1 min read
10 Trading Truths ⬇️ 1. The markets change, all signals do not work in all markets. What worked in a trending market may not work in a range bound market.
Jan 3, 2023 • 8 tweets • 2 min read
The 7 Skills A Trader Must Have. ⬇️ DISCIPLINE: Traders must have control over their emotions & follow a plan. Discipline is a required skill in trading. Without it, a trader is either a gambler or trading based on fear & greed. Without discipline, a trader will be gamed by those in control of their emotions.
Dec 31, 2022 • 14 tweets • 1 min read
10 Principles For Trading Consistency: 👇 The mindset of a trader must accept uncertainty, trade within their framework of profitable principles, but can accept losing money. Traders accept risk for the potential rewards. Traders accept they don’t know what will happen next but can manage the risk while they seek rewards