FROM ZERO TO 250K DOLLARS: insights on successful prop firm trading from @paladinbhutia latest interview.
What I learnt and what you can apply no matter your style of trading.
🧵Thread
Trading is about having an edge,having the right risk management mindset and having enough capital to trade.
Flipping accounts is a high risk high reward technique. It's the same thing as gambling.
3. He talked about changing is mindset. "Isolate to elevate"
while I don't totally agree with this quote. I believe what's very important is keeping only friends that are traders also and understand what you do.
Paladin talked about how he was constantly on the charts learning and improving is skill set. Instead if going out partying and chasing girls.
Paladin system is a very simple system, he risks 0.5% to 1% targeting like 1-2 risk reward ratio.
. In my own personal journey into trading I always wanted to make big money all trades. I'll end up giving back All my profits to the market
Back to paladin
Maximum 2 losses in a day,maximum 4 losses in a week.
Once we take two looses, we tend to want to revenge this loses and make the money back. I personally have fell for this trap. Close your computer after two looses in a day.
6. Your goal is to survive before you thrive:
In an industry where 90% of people fail.
Once you've made some money from tht investment then you can up your risk.
With a 1-2 risk reward. He his able to get out of a loosing streak fast.
I'll personally incorporate this in my trading and give feedbacks
When you make your analysis it is more likely to catch a part of the move than the entire move. It increases your accuracy.
As long as you're catching it consistently you'll be fine
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Gbpusd
Gbpjpy
Most successful prop traders have seen, limit the number of pairs they look at.
@paladinbhutia win rate is btw 50 to 70% depending on the market conditions.
Paladin talked about how he only takes between 3 to 6 setups in a week.
Sitting on your hands in trading is magical. I'll ask you to try
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Speech Delay is most common in children nowadays
In ancient times, our grandparents used to follow typical natural way of caring the needs of a child. All they used were more of natural products than chemical based for the growth of child.
One of major step followed was to feed Gurbach Jadd/ Vasa Kommu/ Acorus Calamus for initiating good speech ability in a child. This stem was needed to babies on Tuesdays and Sundays in mother's milk.
Vasa is feed to baby after the 1st bath on 12th day in week. Weekly only thrice it is fed and named as :
Budhwar - Budhi Vasa
Mangalwar - Vaak Vasa
Ravi Vaar - Aayush Vasa
This stem is burnt and rubbed against the grinding stone in mother's milk or warm water to get a paste
The procedure to make it is in the link
https://t.co/uo4sGp7mUm
It should not be given daily to the child. Other main benefits are
1. It clears the phlegm in child's throat caused due to continuous milk intake. It clears the tracts and breathing is effortless.
2. Digestion
For children who haven't got their speech and is delayed than usual should feed this vasa on these days in week atleast for 6months. Don't get carried away with this dialogue
"Some gain speech little late"
In ancient times, our grandparents used to follow typical natural way of caring the needs of a child. All they used were more of natural products than chemical based for the growth of child.
One of major step followed was to feed Gurbach Jadd/ Vasa Kommu/ Acorus Calamus for initiating good speech ability in a child. This stem was needed to babies on Tuesdays and Sundays in mother's milk.
Vasa is feed to baby after the 1st bath on 12th day in week. Weekly only thrice it is fed and named as :
Budhwar - Budhi Vasa
Mangalwar - Vaak Vasa
Ravi Vaar - Aayush Vasa
This stem is burnt and rubbed against the grinding stone in mother's milk or warm water to get a paste
The procedure to make it is in the link
https://t.co/uo4sGp7mUm
It should not be given daily to the child. Other main benefits are
1. It clears the phlegm in child's throat caused due to continuous milk intake. It clears the tracts and breathing is effortless.
2. Digestion
For children who haven't got their speech and is delayed than usual should feed this vasa on these days in week atleast for 6months. Don't get carried away with this dialogue
"Some gain speech little late"
1/ Here’s a list of conversational frameworks I’ve picked up that have been helpful.
Please add your own.
2/ The Magic Question: "What would need to be true for you
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?
Please add your own.
2/ The Magic Question: "What would need to be true for you
1/\u201cWhat would need to be true for you to\u2026.X\u201d
— Erik Torenberg (@eriktorenberg) December 4, 2018
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody: https://t.co/Yo6jHbSit9
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?