As traders, we primarily compete with ourselves to honor our rules and execute our edges.
With money on the line, trading is an incredibly strenuous mental game where emotions can flare up leading to costly mistakes
The Importance of Mastering Trading Psychology.
(Thread) 👇
Instead, it means learning to transcribe your emotions into data that you can use and analyze to connect past states to current ones.
We execute at our highest ability when we can use emotions as fuel and for intuition but are not so dominating that they cloud our judgment.
They compete with passion, emotion. This drives them and they are able to unlock their full potential.
This involves developing awareness and techniques that address the root causes of emotions, preventing them from negatively impacting your trading.
You will find the same signs start to develop before you for instance experience tilt and enter a trade outside of your system.
It will allow you to build instincts, and overcome performance flaws.
Mastering Trading Psychology can’t solve your trading problems alone, but it can take your existing performance to the next level.
It will also drastically improve your discipline & consistency.
Look no further than @JaredTendler’s high-performance framework...
A repeatable system that reaches the root of your issues.
His framework is based on over 16 years experience working with institutional traders, PGA Tour Golfers, and Champion Poker Players to help them perform at the highest level—consistently.
Traders are too focused on building a strong technical system and completely disregard the mental game—stunting their performance.
We are launching the Trading Psychology Masterclass, helping hundreds of students improve their performance and consistency.
Join them here 👇
https://t.co/dJXxUQmS0U
The first webinar is coming up fast on April 9th! ⌛️
Grab your Early Bird Tickets here 👇
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As traders, we primarily compete with ourselves to honor our rules and execute our edges.
— TraderLion \U0001f981 (@TraderLion_) March 26, 2022
With money on the line, trading is an incredibly strenuous mental game where emotions can flare up leading to costly mistakes
The Importance of Mastering Trading Psychology.
(Thread) \U0001f447
More from TraderLion 🦁
The market’s best investors have made millions from the simple saying:
“Buy right, sit tight”
Sounds simple - but what does “buying right” even mean?
Use TraderLion's 10-Step Ultimate Guide to buying right 👇
By the end of this thread, you'll know how to:
1. Build an objective list of buy criteria
2. Have 10+ real world examples to study
3. Increase your win rate.
4. Increase your profitability
Let's dive in!
Buy Rule #1: The General market must be in an uptrend.
3 out of every 4 stocks follow the market trend both to the upside and to the downside.
This means that if you are buying a breakout in a downtrend, it already has a 75% chance of failing!
It doesn't matter if the stock is in a leading group with an impressive RS line and strong fundamental story.
At the end of the day, market direction is the MOST important factor!
Here's an excerpt from How To Make Money In Stocks by stock market legend William O'Neil:
Here's another video by @richardmoglen that will help you determine if the stock market is in a downtrend:
https://t.co/shD5OjkP6s
Let's move on to #2.
“Buy right, sit tight”
Sounds simple - but what does “buying right” even mean?
Use TraderLion's 10-Step Ultimate Guide to buying right 👇
By the end of this thread, you'll know how to:
1. Build an objective list of buy criteria
2. Have 10+ real world examples to study
3. Increase your win rate.
4. Increase your profitability
Let's dive in!
Buy Rule #1: The General market must be in an uptrend.
3 out of every 4 stocks follow the market trend both to the upside and to the downside.
This means that if you are buying a breakout in a downtrend, it already has a 75% chance of failing!
It doesn't matter if the stock is in a leading group with an impressive RS line and strong fundamental story.
At the end of the day, market direction is the MOST important factor!
Here's an excerpt from How To Make Money In Stocks by stock market legend William O'Neil:
Here's another video by @richardmoglen that will help you determine if the stock market is in a downtrend:
https://t.co/shD5OjkP6s
Let's move on to #2.
More from Traderlion
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
