Becoming a great trader is a process of self-discovery. It is very important to understand this from the get-go and start by finding a proven style, or methodology that jives with who you are.
10 Trading Tips for any strategy. (Thread)
Becoming a great trader is a process of self-discovery. It is very important to understand this from the get-go and start by finding a proven style, or methodology that jives with who you are.
Did you know 3 out of every 4 stocks follow the direction of the general market? Anytime you are trading against the trend you are putting the odds heavily against yourself.
Next time you take a loss, try not to take it too personally. Sometimes you can do everything perfectly and you are still going to take a loss. That’s part of being a consistently successful trader.
By maintaining a trading journal and doing post-analysis, you can answer extremely important questions like…
What is working? What am I doing right?
What is not working? What am I doing wrong and how can I fix it?
The fact is, the only thing you need is price and volume. Remember, it’s not the actual news that is important. It’s the reaction to the news that matters. Hence the phrase, “price is news.”
The key is to focus on a small area of market knowledge and make it a never-ending journey to learn everything you possibly can related to that one specific area of the market. Everything else is irrelevant!
When you keep your focus small, on what matters, and you do it very well – that is when you will find success in your trading and be able to make those decisions much more quickly because you are able to instantly decipher what the charts are telling you.
You need to have a list of rules that you agree are non-negotiable – especially as a new trader. However, too many rules will cause you to hesitate when it is time to act. Don't be too rigid in your approach or you will miss amazing opportunities!
More from TraderLion
The market’s best investors have made millions from the simple saying:
“Buy right, sit tight”
Sounds simple - but what does “buying right” even mean?
Use TraderLion's 10-Step Ultimate Guide to buying right 👇
By the end of this thread, you'll know how to:
1. Build an objective list of buy criteria
2. Have 10+ real world examples to study
3. Increase your win rate.
4. Increase your profitability
Let's dive in!
Buy Rule #1: The General market must be in an uptrend.
3 out of every 4 stocks follow the market trend both to the upside and to the downside.
This means that if you are buying a breakout in a downtrend, it already has a 75% chance of failing!
It doesn't matter if the stock is in a leading group with an impressive RS line and strong fundamental story.
At the end of the day, market direction is the MOST important factor!
Here's an excerpt from How To Make Money In Stocks by stock market legend William O'Neil:
Here's another video by @richardmoglen that will help you determine if the stock market is in a downtrend:
https://t.co/shD5OjkP6s
Let's move on to #2.
“Buy right, sit tight”
Sounds simple - but what does “buying right” even mean?
Use TraderLion's 10-Step Ultimate Guide to buying right 👇
By the end of this thread, you'll know how to:
1. Build an objective list of buy criteria
2. Have 10+ real world examples to study
3. Increase your win rate.
4. Increase your profitability
Let's dive in!
Buy Rule #1: The General market must be in an uptrend.
3 out of every 4 stocks follow the market trend both to the upside and to the downside.
This means that if you are buying a breakout in a downtrend, it already has a 75% chance of failing!
It doesn't matter if the stock is in a leading group with an impressive RS line and strong fundamental story.
At the end of the day, market direction is the MOST important factor!
Here's an excerpt from How To Make Money In Stocks by stock market legend William O'Neil:
Here's another video by @richardmoglen that will help you determine if the stock market is in a downtrend:
https://t.co/shD5OjkP6s
Let's move on to #2.
More from Traderlion
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I hate when I learn something new (to me) & stunning about the Jeff Epstein network (h/t MoodyKnowsNada.)
Where to begin?
So our new Secretary of State Anthony Blinken's stepfather, Samuel Pisar, was "longtime lawyer and confidant of...Robert Maxwell," Ghislaine Maxwell's Dad.
"Pisar was one of the last people to speak to Maxwell, by phone, probably an hour before the chairman of Mirror Group Newspapers fell off his luxury yacht the Lady Ghislaine on 5 November, 1991." https://t.co/DAEgchNyTP
OK, so that's just a coincidence. Moving on, Anthony Blinken "attended the prestigious Dalton School in New York City"...wait, what? https://t.co/DnE6AvHmJg
Dalton School...Dalton School...rings a
Oh that's right.
The dad of the U.S. Attorney General under both George W. Bush & Donald Trump, William Barr, was headmaster of the Dalton School.
Donald Barr was also quite a
I'm not going to even mention that Blinken's stepdad Sam Pisar's name was in Epstein's "black book."
Lots of names in that book. I mean, for example, Cuomo, Trump, Clinton, Prince Andrew, Bill Cosby, Woody Allen - all in that book, and their reputations are spotless.
Where to begin?
So our new Secretary of State Anthony Blinken's stepfather, Samuel Pisar, was "longtime lawyer and confidant of...Robert Maxwell," Ghislaine Maxwell's Dad.
"Pisar was one of the last people to speak to Maxwell, by phone, probably an hour before the chairman of Mirror Group Newspapers fell off his luxury yacht the Lady Ghislaine on 5 November, 1991." https://t.co/DAEgchNyTP
OK, so that's just a coincidence. Moving on, Anthony Blinken "attended the prestigious Dalton School in New York City"...wait, what? https://t.co/DnE6AvHmJg
Dalton School...Dalton School...rings a
Oh that's right.
The dad of the U.S. Attorney General under both George W. Bush & Donald Trump, William Barr, was headmaster of the Dalton School.
Donald Barr was also quite a
Donald Barr had a way with words. pic.twitter.com/JdRBwXPhJn
— Rudy Havenstein, listening to Nas all day. (@RudyHavenstein) September 17, 2020
I'm not going to even mention that Blinken's stepdad Sam Pisar's name was in Epstein's "black book."
Lots of names in that book. I mean, for example, Cuomo, Trump, Clinton, Prince Andrew, Bill Cosby, Woody Allen - all in that book, and their reputations are spotless.