It took me 5+ years to learn
I’ll teach it to you in 5 minutes.
Even your business degrees (MBA) won’t teach you this.
Here are the these 10 lessons which will lessen your learning curve and make you a profitable trader.🧵👇
I’ll teach it to you in 5 minutes.
Even your business degrees (MBA) won’t teach you this.
Here are the these 10 lessons which will lessen your learning curve and make you a profitable trader.🧵👇
(1) Immerse Yourself In the World Of Trading
Understand that learning the markets can take years. Immerse yourself in the world of trading and give up everything else.
Understand that learning the markets can take years. Immerse yourself in the world of trading and give up everything else.
(2) Markets Are Based On Human Psychology
The essential element is that the markets are ultimately based on human psychology, and by charting the markets you’re merely converting human psychology into graphic representations.
The essential element is that the markets are ultimately based on human psychology, and by charting the markets you’re merely converting human psychology into graphic representations.
(3) Trading System
The trading system gives the trader the ability to control his or her emotional states rather than allowing them to control him. A system is a disciplined method for organizing dynamic, ever-changing market phenomena.
The trading system gives the trader the ability to control his or her emotional states rather than allowing them to control him. A system is a disciplined method for organizing dynamic, ever-changing market phenomena.
(4) Accept the Risk
To whatever degree you haven't accepted the risk, is the same degree to which you will avoid the risk. Trying to avoid something that is unavoidable will have disastrous effects on your ability to trade successfully.
To whatever degree you haven't accepted the risk, is the same degree to which you will avoid the risk. Trying to avoid something that is unavoidable will have disastrous effects on your ability to trade successfully.
(5) How Much Do You Make When You Are Right ??
I have learned many things from him (George Soros), perhaps the most significant is that it’s not whether you are right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong
I have learned many things from him (George Soros), perhaps the most significant is that it’s not whether you are right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong
(6) Good Money Management Alone is Not enough
….If your system isn’t any good, you’re still going to lose money, no matter how effective your money mgt rules are. But if you have an approach that makes money, then money mgt can make the diff between success and failure.
….If your system isn’t any good, you’re still going to lose money, no matter how effective your money mgt rules are. But if you have an approach that makes money, then money mgt can make the diff between success and failure.
(7) Markets Are Not A Random Walk
The markets are clearly not a random walk. The markets are not even efficient because that assumption implies you can’t make an above-average return. Since some people can do that, I disagree with the assumption.
The markets are clearly not a random walk. The markets are not even efficient because that assumption implies you can’t make an above-average return. Since some people can do that, I disagree with the assumption.
(8) Loses Are Part of Business
Wanting to make money in the markets without accepting there will be losses is like waiting to breathe but only wishing to exhale.
Wanting to make money in the markets without accepting there will be losses is like waiting to breathe but only wishing to exhale.
(9) Trading Psychology Acquired Through Time & Effort
A trading philosophy is something that cannot just be transferred from one person to another. it’s something that you have to acquire yourself through time and effort.
A trading philosophy is something that cannot just be transferred from one person to another. it’s something that you have to acquire yourself through time and effort.
(10) Be Ready To Correct the Errors
Your sense of insecurity will keep you alert, always be ready to correct your errors and sail through it.
Your sense of insecurity will keep you alert, always be ready to correct your errors and sail through it.
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Happy Trading:)
Happy Trading:)
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