I've been trading stocks daily for 8 years.

But if I had to start all over again?

I'd stop doing these 3 things immediately: 1/ Wanting to win on every stock

When I started I never found a stock that I didn't like.
There was always a reason to buy.

I'd win on lots of stocks and even win big on some of them but no single trade made a huge difference to my account.

I've gone through the 2023 macro outlook reports from 8 of the biggest institutions such as:

- Goldman Sachs
- JP Morgan
- BlackRock
- Deutsche Bank etc

Here are the main points from each: Goldman Sachs expects global growth of 1.8% in 2023 due to US resilience and a bumpy China reopening.

They're more bullish than other institutions.

10 books every serious trader should read this summer:

👇👇👇 1) Alpha Trader by @donnelly_brent

This is a book to read and reread.

It covers specific strategies and tactics as well as habits of successful professional traders.

Alpha Trader is pure trading gold and has practical advice that improved my P&L.

When it comes to investing we think of Warren Buffett, but the unsung hero is Peter Lynch.

He coined the term 'tenbagger'.

Peter achieved an incredible 29% CAGR over 13 years despite owning 100s of stocks.

Here are 10 of Peter's tips for multibagging stocks.

👇👇👇 1/ "Everyone has the brainpower to make money in stocks. Not everyone has the stomach".

Everyone likes the idea of buying the dip until there is a dip.

As @iancassel says: "10% of successful stock picking is picking great stocks. The other 90% is not selling them."

If you buy stocks, then you need to know how to read a balance sheet.

Balance sheets tell you if a company:

• is in good health
• needs more cash
• could go bankrupt

Here's a quick guide to reading balance sheets:

👇👇👇 1/ The balance sheet measures the financial health of a company at a specific point in time.

It's made up of three parts:

1) Assets
2) Liabilities
3) Equity

The assets are always equal to the liabilities and equity.

This is known as the accounting equation:

A = L + E

It's sadly been 160 days since Russia invaded.

Here are 10 charities you can donate to in order to support Ukraine:

👇 1/ Sunflower of Peace provides backpacks with first aid and medical supplies to Ukrainian soldiers, citizens, and volunteers.

Each backpack is designed for 5-10 people and is geared for survival in extreme conditions.

Donate here: sunflowerofpeace.com/links

Stanley Druckenmiller once made >$1bn buying Deutschmarks.

In 4 decades of investing he had 0 down years.

Here are his secrets of achieving 30%+ for 30 years straight. 1/ Keep your ego aside whilst trading

Outperformance is generated through mental flexibility.

Being able to change your mind quickly can:

- Save you a lot of money
- Make you a lot of money

Don't allow losses to affect your judgement.

10 must-have Gmail skills everyone needs to know: 1/ Send & Archive

Send & Archive moves the email from your inbox to your archive.
It won't appear again unless you get a response.

Click the gear icon > See all settings > then click Show "Send & Archive" button in reply.

The former (#DKL) has been my worst trade of 2022 so far.

It was too big a position in a hugely illiquid stock.

I got complacent due to illiquid stocks rallying like crazy during 2020 and 2021.

I also..

https://twitter.com/shiftingshares/status/1499369237198032905

Made the mistake of not cutting the lot once it went through my stop.

I should've sold the lot but again thought it might bounce back. It didn't and I ended up selling at worse prices.

One rule I didn't break was to make the mistake of averaging down..

Brent Donnelly (@donnelly_brent) has professionally traded currencies since 1995 working for HSBC, Citi, and Nomura.

He's written 2 books on trading and his newsletter AM/FX is a must read for daily macro.

Here are 16 of Brent's tips on how to succeed as a sell side trader. 1/ Study as many other traders as possible, but don't copy them.

Good traders take what they like from other respected traders and build their own style.

You can't be successful by copying someone else blindly.

You won't have the same conviction or know what to look out for.

10 takeaways from Rich Dad Poor Dad by @theRealKiyosaki.

🧵👇 1/ It's not how much money you make. It's how much money you keep.

Someone who earns £1m a year is broke if they spend £1m a year.

They have to keep going because they're not rich enough to stop.

Spend less than you earn in order to make money work for you.

The Nomad Investment Partnership Letters from 2001 to 2014 are a treasure trove of stock market gold.

Nomad returned 921% in 13 years, and it takes hours to read all 181 pages.

Here are the best takeaways summarised in 17 tweets. 1/ The power of the owner operator.

"Sam Walton did not make his money through diversifying his holdings. Nor did Gates, Carnegie, McMurtry, Rockefeller, Slim, Li Ka-shing or Buffett."

Great businesses are often heavily concentrated with one single focus.

I've scanned over 250,000 charts in the last 8 years.

Knowing how to read charts sets you apart from the 90% of traders who fail.

Here are 6 things that put you in the top 10%:

👇👇👇 1/ Clean up your charts

Just because an indicator exists doesn't mean you should use it.

Some use Fibonacci, Elliot Wave, RSI, MACD, Bollinger Bands..

I used to have RSI on my charts then realised I didn't have an edge with it.

So I took it off.

Use only what works for you.

5 simple steps from starting a trading account and growing it quickly:

👇 1. Find a repeatable edge

If you don't have an edge then your capital will be taken away by those who do.

Every profitable trading system needs a well-define edge that allows you to profit over the long run.

How do you find an edge?

I've spent hours listening to @MikeBellafiore's podcasts on trading stocks and reading both of his books.

To save you time, here are 10 of the best takeaways:

👇 👇 👇 @MikeBellafiore 1/ Trading is a business from which you need a good foundation.

• get consistent; if you can't do this you won't make money
• increase your sizing and scale up
• diversify and start adding new trades to your trading arsenal

Focus on making one good trade. Then another one.

I spent over £15,000 on business education from 4 universities.

90% of it was useless stretched over 1,000s of hours.

Save yourself the time and read these 7 points: 1/ Michael Porter's 5 Forces framework

Five competitive forces shape every industry and analyse its strengths and weaknesses.

• Competitive rivals
• Power of suppliers
• Power of customers
• Threat of substitutes
• Potential market entrants

Let's start with rivals...

I have added to my position in @bidstack.

#BIDS has an attractive asymmetric risk/reward for several reasons:

• Capital raise of £10.9m at 2p
• Finally starting to monetise and grow
• Everybody hates it so no hype in the price

Some further thoughts below: 1/ Bidstack is a technology stock which places non-intrusive (native) ads into games.

Historic slow progress from the co has seen the stock written off because of its previous extreme overvalution in 2019 (40p+).

Bidstack overpromised and underdelivered and reality set in.

If I had to start trading all over again, here is how I would start and get to profitability in 15 steps.

// THREAD // 1/ Find the exact types of stock you want to trade.

Specific sector?
Specific platform?
Specific market cap?

I would identify a segment of the market to trade and focus on.

I'd then:

• Learn about these stocks
• What drives the stock prices
• The mechanics of the market

When Aldi arrived in 1990 nobody expected it to conquer the UK.

But within 20 years it had disrupted an industry and changed the way a nation shops.

Today, Aldi holds nearly 8% of the market and is closing on the Big Four.

Here's how it did it.

//THREAD// 1/

For those that don't know, Aldi is a German discounter chain that prides itself on low cost.

It looks cheap. This is done deliberately.
Merchandise is stacked on pallets and basic shelves.

Aldi doesn't want you to think any expense has gone into aesthetics.

Reminiscences of a Stock Operator is a must-read for traders.

It follows the life of legendary trader Jesse Livermore who made $100,000,000 shorting the market in 1929.

Here are 10 of Jesse's timeless trading tips.

//THREAD// 1. "There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again."

People say charts are silly. But charts are the collective money-weighted sum of emotion.

Most people agree that PhDs are clever.

But in a trading experiment where 40 PhDs won 60% of the time - 38 out of 40 lost money.

Why did this happen? Position sizing.

Here's how to increase your trading profits with effective position sizing.

[THREAD] Each PhD started with $10,000.

They risked capital on 100 turns and they both won and lost what they risked on each turn. Risk $1 to win or lose $1.

But almost all of the PhDs risked too much capital early in the game.

Greed and a lack of understanding odds were big reasons.