BC TRADING
Saved by @Alex1Powell

Some reflections on trading psychology...
1/

 Trading is as simple as "do you think it will go up or do you think it will go down", yet this is one of the hardest jobs I've ever experienced and I've been lucky (or so I'm told) to have experienced a few - musician, pe associate, baker, biz owner, insurance underwriter.
2/
But with this simplistic binary proposition comes a tremendous amount of pitfalls which is well explained imv by Daniel Kahneman’s book “thinking fast and slow”, that illustrates a lot of why traders succumb to these pitfalls time and time again...
3/
And that is, Humans are innately horrible (horrible) traders. And it's no wonder why trading has an extremely low success rate. As I've come to realise from reading that book some years ago, we - Humans, tend be risk-averse when winning, that is to say...
4/
we tend to take our profits or whatever we have gained quickly; and tend to be risk-seeking when losing in that we tend to let our losses or whatever we may lose a chance (or give more risk) to recoup what we could end up losing.
5/
Traders will have heard the adage "let your winners run and take your losses quickly”. But as easy as that sounds, and as explained by Daniel Kahneman in so many words - it is in fact our psychological make-up to do the complete opposite!!
6/
Understanding, accepting and appreciating this is key to having a successful trading career imo because it is an extremely difficult thing to come to terms with. But by doing so, good traders go on to take steps to set up rules and processes to avoid those pitfalls that we...
7/
as humans often fall into when making financial decisions. The sooner a trader or aspiring one understands and does this, the better they stand to becoming a successful one whether that be via systematic trading or discretionary with a systematic element - a methodology...
8/
a process, and rules for risk management. Because at the end of the day, the odds are heavily stack against us and it all comes from within our own selves - our innate psychology. This continues to be a constant reminder to myself since "to err, is human" (A. Pope) and...
9/
as humans we are likely to err at times again and, to err in trading could very well be the precursor to the end or "game over". And when that happens, it is ridiculously hard place to come back from!
10/
This past week I've had a good number of profitable trade ideas but there was one 'problem child' - short EURGBP which made me think a lot about trading psychology and although there was a satisfying end, I came away with some very mixed feelings...
11/
The basis was for a dovish ECB tilt given recent data and lockdowns into winter since the past meeting, and a brexit deal making progress while seeing how the GBP rolled with the punches in recent weeks like the market was more hopeful than not.
12/
ECB response turned out to be underwhelming and no-deal Brexit risks went up causing EURGBP to shoot up nearly 2 handles. But as I continued to take losses by shedding more losing positions as it went up, I also continued to reestablish more shorts even though my thesis...
13/
turned out be wrong. Eventually, when 0.9125 came (a strong level I had marked out on my chart some weeks ago) I went on to short it in much bigger size than usual as I had a view on GBPUSD levels and believed it would be supported there after the sell off:
14/
After a big pull back, I closed out most of that position and ended up slightly in the green net on EURGBP for the week with a little bit left to run as I planned to leave a small bullish bet for the weekend. But it isn't normal that revenge trading should work out this way..
15/
and it all feels like a dirty win. After all, it did take headlines from a German Foreign minister to trigger the sharp pullback to come away with a strong finishing trade and one that could be considered very very lucky.
16/
In hindsight, patience and self-restraint was lacking and this goes back to what we know about our inherent trading psychology when dealing with losses. Had I been more patient, I would’ve most likely avoided a lot of unnecessary stress and losses between and re-engaged...
17/
at my marked-out level with more confidence and calm. Next time I find myself in that situation, it will be a time to step-back, reevaluate, replan, then having done all that to re-engage with a plan instead of fighting it relentlessly and compulsively.
/End

More from Trading

Aneesh Philomina Antony
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If u are looking to enter a scrip just before the breakout
what would u look for?
How would u identify scrips just before breakout?

Here are a few pointers
Carefully understand the them and use at ur own discretion
(All comments r compiled from a question i posed)

1/23

Price is testing the same resistance repeatedly since long.
But now in recent times it's forming multiple candles near the same resistance with low volume.
Observe it and see for opposite move.
As soon as u get a positive candle, get in to it.

2/23

1. Volume buildup (vol > when resistance point created) along with, increase in OI, increase in delivery % on HTF
2. On LTF, price stalling around breakout area for at least 1-2hr.
3. No major events.

3/23

Stock reaching breakout LVL with HL-HH
Contraction of price and volume near it especially near 20 days ma.
If there is any breach of the latest HL it should be followed by a bullish candle with good volume.
Left side of the chart has a rally with a very steep slope of ma.

4/23

Number of wide range green bars with high volumes.
If stock is at its ATH then it adds more conviction bcz there wont b supply after that point

Consolidation below the resistance, volume of the candles & strong bullish candle closing at near highs just below the resistance

5/23
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Emperor\U0001f451
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@EmperorBTC
Crypto Day-Trading Secret Strategy.

SIMPLE. HIGH PROFIT. NO NONSENSE.

One of the best strategies for Scalping crypto.

Share it to help all beginners.

(A THREAD)🚀🚀


We will use three basic indicators.

1. Pivot Points
2. Stoch RSI
3. VWAP

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USE THE STRATEGY:

I will introduce the tools and then explain the strategy.

I Will talk about the calculations to arrive at the indicators separately.

IMPORTANT- Don't use the indicators alone.
Eg. Stoch RSI has less than 26% hit rate so you can't use it alone to trade.

Tool 1- Pivot Points:

They are reversal points based the historical prices.
Go to the indicators tab and type 'Pivot point standard'

The settings to be used have been disclosed in the pic below.

Note- You can choose your own settings but I have disclosed the ones I use.


This is what they will Look like.

Ignore All notations and just remember.
ALL the lines are Support or Resistance lines
(Lines of Interest)

It doesn't matter if it's been denoted as P,R or S.

We will learn how to use them below, practically.
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Christian Reshoeft
Christian Reshoeft
@reshoftc
(Thread) Why do I own individual stocks?

Thesis:

1. The digitalization of our world is 10% complete.
2. This megatrend will continue for at least another decade.
3. If you enjoy spending your free time on individual stocks, then the potential for outsized returns is possible.

What is my approach?

There are two parts to my portfolio.

- 40% in Vanguard All-World ETF. This is on autopilot w/ regular contributions.
- 60% in what I consider to be high growth stocks

I keep a balance by adding cash. No shuffling around unless it gets too out of whack.

The latter is the interesting part.

I invest in companies that can

1. successfully disrupt an industry with new business models $TTD $SQ $PTON $TDOC

2. further enable the digital transformation with their services and infrastructure $ZS $HUBS $TWLO $CRWD

I intend to hold my shares indefinitely and allow my investments to compound over time.

I don’t believe that it is possible to time the market. Markets go up and down. I hold on knowing that quality businesses tend to bounce back.

The list of reasons to sell is always long.

If you have full conviction in your holdings, then no single piece of “infotainment” should make you change your mind.

Ignore it + people who make predictions about the economy.
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Rohit Katwal
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@rohit_katwal
William's Alligator is probably the most underrated indicator in moving average category.

Alligator follows the premise that market is sideways for 70% of the time and trending only 30% of the time.

This is where William's Alligator can be a great tool for traders.


Why William's Alligator can be a great tool for traders?

It can identify Bullish, Bearish and Sideways market pretty easily. Problem is, traders don't know how to use it effectively. Alligator has three lines:

1. Lips - Fastest Line
2. Teeth
3. Jaws - Slowest Line


Book Interpretation is when Lips Crosses above Jaws, it's a buying opportunity and when below its a shorting opportunity. And when three lines are crisscrossing, instrument is sideways.

BUT this does not make it a tradeable indicator in practice. Here is what should be done.

Firstly, when all the Alligator lines are moving up or down and are widening, this phase is called "Alligator eating with its mouth wide open". When the lines are crisscrossing, this indicates the alligator is sated.

Now, how to use it? with Basic TA and Indicator like MACD

Rules to remember:
1. As long as price is above Alligator, BANKNIFTY is bullish.
2. As long as MACD is trading above 0 line, BANKNIFTY is bullish.
3. Horizontal Lines are the only S&R.
4. CONGESTION is followed by TREND is followed by CONGESTION.
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JayneshKasliwal
JayneshKasliwal
@JayneshKasliwal
How to Avoid Big Losses In trading ?

1. Avoid Stocks Below 200 ema
2. Sell Stocks in Stage 4 Down Trend
3. Dont Trade Stocks that are moving in Circuits
4. Avoid News based Trading

A thread With examples🔖

Retweet to Educate Your Trading Friends !
1/n

A Study Shows that 90% of the winning Stocks stay above 200 ema before a big Advancing Phase

1. Simply Not Holding or Buying Stocks below 200 ema Saves a lot of time and Money.
2. You can looses opportunity Cost if you buy stocks below 200 ema.
3. TimeFrame: Daily 200 ema

2/n


B. Sell Stocks in Stage 4 Down Trend

1. Stocks Exhibiting this are in complete Bear Grip
2. The 30 week ema acts as reference for stage analysis
3. These Stocks can be short sold on pullback to 30wema
4. Happens after Topping Phase
5. TimeFrame : Weekly , 30 Week Ema

3/n


C. Dont Trade Stocks that are moving in Circuits

1. Mostly these stocks are Speculatve and Operator Driven.
2. You never know what is the top of the trend and may get Stuck with Huge Losses

Example : TTML , Alok , Ruchi etc
This is Pyramid Structure and news driven also
4/n


D. Avoid News based Trading
1. Whenever a postive News comes in Market People Jump in Buying the Stocks without thinking .
2. Most of the the times the news is factored in or gets factored after heavy buying
3. Your Money may get Stuck

Example : PnbBousing , AdaniPower
5/n
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