The Life of a Trader: Trading Beyond Charts and Data
In the world of trading, it’s not just about nailing entries and exits, studying charts, or hunting for the “next big move.” Trading is a...
Archives
2024
Diversification: Don't put all your capital into one trade or one type of asset. Diversification can help mitigate risk, though it doesn't eliminate it.
Breakout and Retest
Favourite two setups for a breakout and retest trading strategy:The second pattern on the first candle of the day works well. And you can close...
How to be a trader
Becoming a trader typically involves a blend of education, practice, psychological preparedness, and strategic risk management. Here's a step-by-step guide on how to start and...
Avoid Overtrading: Sometimes doing nothing is the best action. Overtrading can lead to higher fees and potentially poor decision-making due to fatigue or haste. Wait...
Continuous Learning: Markets evolve, and so should your knowledge. Read books, attend webinars, join trading forums, buy trading courses. Watch the odd YouTube video here...
Pennystock Supernovas
Timothy Sykes has a great framework to focus on stocks that usually run pre-market. The step to focus on is step 3: Step #1: The...
Study patterns
“Price action - when looking at a chart, we're looking at a literal painting of how the entire neural network of traders as a whole...
Use Leverage Wisely (or not at all): While leverage can amplify profits, it also magnifies losses. If you use leverage, understand it fully and manage...
Avoid Prediction, Focus on Probability: Instead of trying to predict the market, focus on probabilities. What are the odds that your strategy will work based...
Risk Management is Key
Never risk more than you can afford to lose. A common rule of thumb is to risk no more than 1-2% of your total trading...
Understand What You're Trading
Whether it's stocks, forex, commodities, or cryptocurrencies, know the specifics of what you're dealing with. Each market has its own dynamics, trading hours, and influencing...
Twitter (x) is a great tool to gauge market sentiment and research projects to invest in. Sometimes you can spot counter trends and get a...
There's more than one way to skin a cat. We don't need to get bogged down watching gazillions of YouTube videos to end up with...
Based on several brokers’ studies, as many as 90% (more likely 95%) of traders are estimated to lose money in the markets. So take what...
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Wait for the trade to come to you
Using support and resistance levels I drew a squiggle of where I think the price will go. My bids are set in the yellow box...
How to pocket watch cryptos
1. Use Dexscreener or GMGM 2. Scan a token you like or something under filters such as > $20k minimum liquidity, > $1m market cap,...
Rules to short a stock
Other tips: • TradingView: Add VWAP (blue line), 200 SMA (purple line), Volume • Watch on 5 mins at pre-open • Use TradeZero for shorting...
Remember: all crypto and penny stocks are going to zero one day so be sure to lock in gains or be ready to short after...
Close your trades
Risk management is the hardest thing to learn - despite planning the trade 100%, I round-tripped all the profit by not closing the trade near...
