The first step to successful trading is to be clear about everything you do.
BUT, the reality is that most traders don't even know what they are doing.
And because of this-
Three things which will make a difference in Your trading Results.
A thread-
The first step to successful trading is to be clear about everything you do.
BUT, the reality is that most traders don't even know what they are doing.
And because of this-
They don't have any Trading plan
They don't know what is suitable for them
And the list goes, on and on.
If you are among the people as described above, don't worry, There is nothing wrong with you, almost 90% of Traders are like that.
Find one style that is suitable to your personality and double down on it.
Why?
They Find something new every now and then, jumping from one strategy to another, searching for Holy grail.
So, FIND ONE THING, AND WORK ON THAT TILL IT STARTS WORKING FOR YOU.
And Trust me, in your way, there will be times where other trading systems will look Fascinating to you, but my friend those who do not fall in that trap
When you know you have only one style, you will become a master of that style with time.
And this has worked for me till now, when i did the above i found all my answers.
I found all rules, Experiences, Just because I selected to do only 1 thing at a time and master it.
One thought can lead to another thought and the new one can lead to another one.
We love to know what the big traders have to say about something.
“This is Number 1 Reason most traders are unsuccessful in trading”
Why?
Let's look at an example-
A trader named Rahul is an intraday trader and has a good plan to follow.
He gets a setup in Nifty to buy above 15000 with sl at 14950.
He saw that a big trader has just posted that “ NIFTY IS GOING TO FALL LIKE A HOUSE OF CARDS ”
Rahul is in panic mode, his heart beat just got faster cause that big trader predictions never go wrong
He exited nifty at market order at cost, phew i just saved my ass not going against the BIG BEAR - Rahul says.
Nifty closes about 500p up that day.
This can further lead to more negative events, next day, but I think you may have got the point.
You should be the pilot of your Plane either it reaches the destination or crashes down.
Even if you don't succeed At Least you would be happy that you took the chance.
As a beginner you will make a lot of mistakes, A lot of screw-ups but as my friend @KillerTrader_ used to say, don't screw up-to an extent that you can't unscrew.
How to not Screw too much as a beginner -
Do all kinds of things you want to, but keep the bet small.
Fear----which leads to ----- You don't have courage to put the next trade.
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1/“What would need to be true for you to….X”
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:
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
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:
Next level tactic when closing a sale, candidate, or investment:
— Erik Torenberg (@eriktorenberg) February 27, 2018
Ask: \u201cWhat needs to be true for you to be all in?\u201d
You'll usually get an explicit answer that you might not get otherwise. It also holds them accountable once the thing they need becomes true.
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
THREAD: 12 Things Everyone Should Know About IQ
1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE
2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n
3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)
(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)
4. IQ predicts many important real world outcomes.
For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3
5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)
1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE
2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n
3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)
(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)
4. IQ predicts many important real world outcomes.
For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3
5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)