Things I know after Trading for 5 years that I wish I knew in my 1st year: ๐งต
Collaborated with @niki_poojary
Collaborated with @niki_poojary
1. Stop trying to focus on theta decay to earn money. Use Price Action to build your capital & get profitable.
2. Quit Averaging trades. It is the worst thing you can do to your account.
3. Instead of averaging, reduce quantities when wrong and increase quantities when right.
2. Quit Averaging trades. It is the worst thing you can do to your account.
3. Instead of averaging, reduce quantities when wrong and increase quantities when right.
4. Spend money on learning from the best. Don't spend too many years being in losses.
5. You can avoid big drawdowns as long as you focus on money management a lot.
6. If you were in losses, focus on how the best traders are earning and try to learn from them.
5. You can avoid big drawdowns as long as you focus on money management a lot.
6. If you were in losses, focus on how the best traders are earning and try to learn from them.
7. Non-directional trading is not the safest way of trading. Being against the trend can blow up your account.
8. Put some money into learning option selling. Start compounding with that knowledge. Let compounding work its wonders.
9. Focus more on learning. Less on negativity.
8. Put some money into learning option selling. Start compounding with that knowledge. Let compounding work its wonders.
9. Focus more on learning. Less on negativity.
10. Focus less on building followers & more on providing maximum value.
11. Rather than showing off cars & vacation spots. Build friendships & relations with traders with a similar mindset to you.
12. Not every day will be a green day. Learn to accept losses and red days.
11. Rather than showing off cars & vacation spots. Build friendships & relations with traders with a similar mindset to you.
12. Not every day will be a green day. Learn to accept losses and red days.
13. Don't compare your Mtm to others. Some are fake while others have a lot of backup capital from other businesses.
14. Assemble a support system of individuals who appreciate you for who you are and are focused on growth.
15. If you earn> 50 Lakh, trade in a company account.
14. Assemble a support system of individuals who appreciate you for who you are and are focused on growth.
15. If you earn> 50 Lakh, trade in a company account.
16. No shame in changing your view of the market. Be loyal to what the trend is telling you, not your old opinion.
17. Practice is the only solution to becoming a skilled trader.
18. Become friends with people who are net profitable.
17. Practice is the only solution to becoming a skilled trader.
18. Become friends with people who are net profitable.
19. Executing a Trading Strategy with only 1 lot Will do more for your growth than any trading book/tweet ever will.
20. Embrace not being comfortable. If you're comfortable you won't grow.
21. We grew the most after our biggest losses and learned from them.
20. Embrace not being comfortable. If you're comfortable you won't grow.
21. We grew the most after our biggest losses and learned from them.
We have more but we'll stop here. Both @niki_poojary & I are not the best traders but just shared our learnings from the past 4-5 years.
If you enjoyed this:
1. Follow us @niki_poojary & @AdityaTodmal for more
2. RT the tweet below to share this thread with your audience
If you enjoyed this:
1. Follow us @niki_poojary & @AdityaTodmal for more
2. RT the tweet below to share this thread with your audience
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