Read this thread from @lilithsaintcrow. I really mean it. Just read it. Because if what she is saying is true (and I happen to think it is) it explains *so much*
An example using the Flat Earthers: A thread of many parts:
Let me explain something to those of you who didn't grow up around violently abusive white supremacists.
— Lili Saintcrow (@lilithsaintcrow) January 7, 2021
*They absolutely do not believe their own bullshit*, but it's useful for them to pretend they do.
So how does this translate into the really *really* important thread I quoted at the beginning?
The core idea is that you can just say "I believe the Earth is flat" and *nobody* can prove you don't. Evidence is irrelevant, because we are *playing a game*.
1) People will rationalise their existing ideas. E.g. I don't like fat people, because... they're lazy, or they smell, or they are genetically inferior, or it's Tuesday or whatever insane reason you like.
4) It is impossible to *prove* whether someone genuinely believes it or not. To be fair, I expect that some of them don't even know.
6) People make shocking decisions on the basis of shit data.
Well I expect that some people are a lost cause. They have got so completely lost in a maze of justifications and lies that they are impossible to reach.
I'd argue that this kind of thing is largely the product of *ignorance*. Now I don't mean that we aren't arguing effectively - there are many cleverer and more eloquent people than me working on this. I think it's to do with *experience*.
1) stop peddling bullshit, and
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Covering one of the most unique set ups: Extended moves & Reversal plays
Time for a 🧵 to learn the above from @iManasArora
What qualifies for an extended move?
30-40% move in just 5-6 days is one example of extended move
How Manas used this info to book
The stock exploded & went up as much as 63% from my price.
— Manas Arora (@iManasArora) June 22, 2020
Closed my position entirely today!#BroTip pic.twitter.com/CRbQh3kvMM
Post that the plight of the
What an extended (away from averages) move looks like!!
— Manas Arora (@iManasArora) June 24, 2020
If you don't learn to sell into strength, be ready to give away the majority of your gains.#GLENMARK pic.twitter.com/5DsRTUaGO2
Example 2: Booking profits when the stock is extended from 10WMA
10WMA =
#HIKAL
— Manas Arora (@iManasArora) July 2, 2021
Closed remaining at 560
Reason: It is 40+% from 10wma. Super extended
Total revenue: 11R * 0.25 (size) = 2.75% on portfolio
Trade closed pic.twitter.com/YDDvhz8swT
Another hack to identify extended move in a stock:
Too many green days!
Read
When you see 15 green weeks in a row, that's the end of the move. *Extended*
— Manas Arora (@iManasArora) August 26, 2019
Simple price action analysis.#Seamecltd https://t.co/gR9xzgeb9K