1⃣ In trading less is more, less activity generally leads to more profits and smaller position sizes lead to better odds of keeping profits over the long term. Less activity in trends allows an easier way to make money. Less position size leads to smaller losses when wrong. ✨
2⃣ It is better to specialize in trading, pick a market, pick a method and master it. It is better to be a master of one set up, pattern, stock, market, or system than to dabble in many.✨
3⃣ The big profits are in the multi-day and weekly trends, not the intra-day range.✨
4⃣ Only check prices on a time frame that is needed and required for your method, watching every single tick is not optimal for the vast majority of trading methods.✨
5⃣ Trading is not about being right all the time it is about limiting losses when you are wrong and maximizing profits when you are right.✨
6⃣ The weakest part of any trading method is the trader executing it. There are many ways to make money in the market but they all require discipline and consistency to make any of them work long-term.✨
7⃣ It is crucial to understand the difference between what is noise in price movements and what are real signals. Studying historical charts and backtesting will separate the noise from the signal.✨
8⃣ The traders that manage risk exposure the best are generally the ones that win in the long term.✨
9⃣ Only trade liquid markets, stocks, commodities, cryptocurrencies, and options. Wide Bid/Ask spreads can make a good system unprofitable.✨
🔟If you trade in the direction of the trend for your time frame, manage the risk of ruin, and stay disciplined you can make money in the markets, but if one of these is missing it will cost you money to trade, sometimes a lot of money.✨
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