Just finished reading The Ride of a Lifetime by @RobertIger.

Incredible life and work advice from his perspective on @Disney distilled into 250+ pages.

Here's a thread of my top 10 takeaways:

Technical Analysis Masterclass- Part 2

'Entering the trade'

Entering a trade without ascertaining a certain things is gambling.

In this masterclass we will learn the pre-requisites to enter a trade.

DON'T ENTER A TRADE WITHOUT DETERMINNG THE FOLLOWING.

Please share.

We understand what reward to risk (popularly called risk to reward) is.
It will be denoted by R:R.

We will also try to bust a few myths about R:R and how to avoid losing trades.

Before entering a trade, you need to determine 3 things.

1. Entry trigger
2. Stop loss
3. Target

1. Entry trigger = Reasons for entering a trade. There could be multiple reasons or a single reason for entry.

Generally a set of reasons AKA confluence is a higher probability trade and a generally a safer entry.

Example of an entry trigger.

2. Stop Loss.

The price in the opposite direction of the trade where the trade is exited, at a loss.

At this level, the reason for the entry becomes invalidated according to TA and the price can then move in the opposite direction, probabilistically.

3. Target is the possible price level that the asset might touch based on previous trends or confluence AND where a possible reversal could occur.

Target is the next path of least resistance from where the price might reverse.

We will always ONLY use TA to determine all 3.

On December 25 Mr Pool retweeted August 16 message about the Phoenix and that the worst was still on the horizon to come. 1/*

Maybe now we can assume that November 3 message meant "FUD" nor "FUN". Putting the word in capital letters seems to indicate the aspect the word fud has in our space, FUD. 2/*

Brad started it on December 22 (1/3 posts (Don't say? Sure) = 13 = Plan B). 3/*

And immediately the SEC followed dropping the bomb (1.3 billions (Don't say? Sure) = 13 = Plan B). 4/*

FUD materializes, Bitstamp is one of the first that haltes XRP trading and so on. 5/*

I had the most bizarre experience outside of a bar yesterday, which my partner very aptly described as "toxic mask-unlinity." (A Thread.)

I was standing outside, waiting for a lyft to get home, when two cis men came out of the bar to smoke cigarettes. They're discussing the masks that folks are wearing in California at the moment because of the very dangerous air pollution from the fires happening.

I happen to be wearing one of those masks, because I think lungs are important and I like breathing. I dunno. One of the men notices me standing there, and says, "Like this f*cker right here. What is this shit?"

He goes on a homophobic rant about me, the pansy with a mask, and what a Very Manly Man he is because he's not afraid to smoke a pack of cigarettes while California is on fire. He doesn't need a mask, because something-something-heterosexual-something.

And part of me is just... impressed by the fact that this dude thinks he's Owning The Gay Libs by not wearing a mask to protect his lungs from smoke and particles in the air that are literally DANGEROUS... while chain-smoking. Outside of a bar.

🧵EMA + VWAP STRATEGY

Every trader has a go-to strategy that works best for them. My trading is all about keeping it simple stupid and revolves around two indicators - Exponential moving averages and vwap.

Here's the strategy that I utilize on nearly 80% of my trades.

👇

What are Exponential Moving Averages?

EMA's are a type of moving average that places a greater weight on more recent data points.

8EMA = Exponential Moving Averages of the last 8 candle closing prices.

EMA's adjust with respect to chart time frame.

What is VWAP?

Volume Weighted Average Price - A key intraday indicator in my trading that offers the true average price based on price & volume.

Calculation: (Price x # of shares traded) / total shares traded

EMA's I use

- 8
- 21
- 50

While I do utilize the 50EMA, the 8 & 21 EMA are most important for this strategy. Some people use the 9 and 20 which are essentially the same thing. REMEMBER: EMA'S adjust with respect to time frames.

A+ Set Up Criteria - (What I look for)