For all of the negatives that come with working from home. A MASSIVE POSITIVE is being able to spend time with my kids during my breaks.
#Workfromhome
#ilovemyjob
As a trader, you are both the owner & the employee. As the owner, you create the rules & as the employee you have to do your job.
#Entrepreneur
#trading
Trading is a game of survival. Survive long enough to not blow all your money when learning. Survive long enough to allow your system to reach the levels of profit that you expect. Survive long enough to allow your money to compound & start seeing the results that you dream of.
When I first started trading I tried to overcomplicate everything because I thought that that's what it took. 13 years later I find myself going more & more back to the basics each year & focusing on mastering the simple. It's a classic case of moving backward to move forward.
We're being sold a lie when it comes to trading & that's why many people think it's a scam. Think about it like this, if I had a program that could teach you how to be a doctor or a chemist in a week would you believe me? HELL NO! Trading is a skill & it takes time to develop it.
My main problem as a new trader wasn't making good predictions. It was convincing myself to exit prematurely because I was 1) Scared to lose money. 2) Scared to give back profits. 3) Scared because the trading guru on the forum didn't agree. Quote from
@LoneStockTrader
#Trading
Had a trader share this with me the other day saying it was his "weapon against losers." I think this is an excellent example of the mindset that we need to have going into trading & how we should approach each opportunity. Also, do yourself a favor & read "Trading In The Zone"
When I set off on my trading journey my wife was the only person who believed that I could become successful. She saw the worst of me throughout that journey, yet always kept a smile on her face. Without her, there's no way I would have made it.
#NationalSpousesDay
#Trading
My main problem as a new trader wasn't making good predictions. It was convincing myself to exit prematurely because I was 1) Scared to lose money. 2) Scared to give back profits. 3) Scared because the trading guru on the forum didn't agree. Quote from
@LoneStockTrader
#Trading
All trades should be executed off of rules not feelings. Even experienced traders who use their intuition to help with their decision making fall back on a clear rules-based reason to get involved in the trade. Today's quote is from
@Canny4
#Trading
9 yrs ago I read the book that is now the 1st one that I recommend all traders read. To that point, I had only read books on technicals as I didn't understand the value of psychology. Wish I would've read it earlier but was still a massive help. What's your game-changing book?
If you fully understand & accept your risk prior to taking a trade then there should be nothing to worry about during the trade & no emotional backlash afterwards. Quote from
@LoneStockTrader
#forex
#stocks
#trading
There are a lot of traders that are great at making predictions but can't enter positions. Sometimes this is due to a lack of entry rules & other times this is due to fear. At the end of the day, a prediction is pointless if you can't execute the order.
Quote -
@TraderDivergent
Trading's a journey of self-discovery & during it you'll learn a lot about yourself. When finding your fit as a trader it's important to understand that it doesn't just happen, you have to work for it. But man when things click it feels good! Quote from -
@MikeBellafiore
#Trading
When new traders watch me trade they often comment on how cool it must be to trade without emotions. THE TRUTH IS I do have emotions & I feel every bit of them while trading. The difference is that I no longer allow them to influence my decision-making. Quote -
@TradingComposur
I used to pop out of bed & get directly to the charts. However I found that I wasn't viewing the markets clearly. I now make sure to give myself at least half an hour to "really wake up" before I make any type of decisions concerning my money. Quote from
@TradingComposur
No matter how big your profits are, there are always people with bigger profits. Don't let ego get into your mind, always focus on improving yourself and stop comparing.. via
@sjosephburns
from
@TraderHarneet
Too many traders get caught up focusing on the small picture. Whether it's having a great day or a bad day. The truth is consistent positive habits are more important than results because that is what will lead you to the long-term goals that you desire. Quote from
@Sjosephburns
Years ago I read the book that is now the 1st one that I recommend all traders read. To that point, I had only read books on technicals as I didn't understand the value of psychology. Wish I would've read it earlier but was still a massive help. What's your game-changing book?
Here's the thing about trading. Almost everything works, but not everything works consistently throughout different market conditions. This is the difference between those who take their time to test the markets & those who just jump in for a quick pay off.
I always say that your trading strategy should be a reflection of your personality. If you're constantly doing something that you're uncomfortable with, it's only a matter of time before you lose trust in what you're doing & start making mental errors. Quote from
@yvanbyeajee
I believe that a "perfect" journey is one that's imperfect. After all, it's the imperfections that allow us to learn our most valuable lessons hence making the journey memorable. When asked what I would change about my journey, my answer is always nothing.
#PerfectingTheJourney
@SJosephBurns
As someone who graduated in 2007/09 & then went on to become an investor. I can tell you that paying for 6 years of college + grad school & not being able to get a job because I was overqualified for entry positions & underqualified for everything else was a lot riskier.
As a younger trader, I remember listening to all of the news pundits before each trading day & when it was time to go into the charts I would only see what they convinced me to see. This is called negative confirmation bias. Have you ever done the same? Quote from
@SJosephBurns
I hate when people make fun of someone for failing. Attempting to follow your dreams takes guts & although it may not have paid off in trading, that mindset & the ability to take action on it will eventually earn that person success in something else. Quote -
@MikeBellafiore
2 Losses & a single win in the markets last night. Unfortunately one of those losses was a max risk loss on the GBPJPY which means the single wasn't able to make up for it. I share this because this is what the reality of trading looks like. You win & you lose.
#wednesdaythoughts
Many traders think that the battle is between them and the markets when in reality it's much more between them and themselves. Quote from
@SJosephBurns
#Trading
#Investing
9 yrs ago I read the book that is now the 1st one that I recommend all traders read. To that point, I had only read books on technicals as I didn't understand the value of psychology. Wish I would've read it earlier but was still a massive help. What's your game-changing book?
When you know that you're going to be profitable at the end of the year, they day to day results slowly start to become meaningless. The PROCESS of trading the right way starts to mean a lot more than the OUTCOME of any individual trade. Quote from
@yvanbyeajee
#Thursdaythoughts
I started seeing MASSIVE changes in my trading results once I stopped blamig the markets, my system, market makers, etc. and started blamin myself. Today's quote is from
@yvanbyeajee
#Thursdaythoughts
#trading
It's still a little sad to see traders upset at me over this year's transition to bigger and better things, but to say that I've abandoned them...well, I won't feel guilty for that at all. I give away MORE FREE content then what others charge for & for that I'll never apologize.
I don't waste time with racist people, never have, never will. Just like internet trolls, attention is exactly what they want so just keep it moving & don't let it ruin your day.
When I first started trading my chart featured more indicators than price. Seriously I had about 6 indicators & then all needed to pine up before I could take a trade. Needless to say, I rarely took a trade & when I did it was usually too late.
#Trading
#NewTrader
My mindset in trading is similar to that at the casinos. Once my money is on the table (entering a position) I assume that I'll never see it again. This may seem odd but if I'm not comfortable taking the risk then I shouldn't be involved in the 1st place Quote by
@PeterLBrandt
Are you more concerned with feeding your ego or account? I once worked with a trader who was intent on having a 90% win rate. He eventually did so but it came at the expense of having a negative risk ratio & despite winning 90% of the time he broke even
Quote from
@PeterLBrandt
Out of the 4 stages a trader goes through. The "Conscious Incompetence" stage is by far the most frustrating. This is the stage where you know what you're supposed to be doing, yet you just can't seem to consistently do it. Give me a 👍below if you've ever been there.
If you find that you're having issues with trading psychology & controlling your emotions, it's important to not just be aware of WHAT mistakes you're making, but also understanding the deeper reasons behind WHY you're making them. - Quote from
@TradingComposur
#ForexTrading
It's incredible what can happen when you believe in yourself. And when that belief starts to fade (and it will), surround yourself with those who will believe for you. We are nothing without a strong support system. In a world where everyone is against us, they keep us strong.
The problem with winning right away is that in most cases it encourages bad habits & motivates traders to up there risk. These same bad habits & poor risk management tactics are what will destory your account down the line once your beginners luck ends. Quote from
@yvanbyeajee
Trading isn't about going finding action, rather, allowing the action to come to you. Have a plan, wait for the market to give you the opportunity that you're waiting for then pounce. Other than that you shouldn't be involved in the market. Quote -
@MikeBellafiore
#Trading
All traders go through drawdowns & knowing that they're normal does wonders for your mind-state & allows you to push through vs. give in to the temptation to quit, revenge trade, etc. What tips do you have on how to mentally deal with drawdowns? Quote -
@TradingComposur
#Trading
Recency bias is a major problem for traders as we tend to let the outcome of our last trade affect our outlook on the next. Until you can learn to let the past go (good or bad) & focus on the consistent execution of your trading plan. You will struggle. Quote from
@yvanbyeajee
Go to college & you'll get a good job.
#LiesYourParentsToldYou
I graduated into the recession & there was nothing available. Went to grad school to buy time & then was either underqualified due to lack of experience or overqualified because I had a Masters.
#ThursdayThoughts
Many believe TRADING MORE is the solution. But let me ask you this, if your trading is in a bad place to begin with then doesn't MORE simply fuel that negative fire?
SUCCESS SOLUTION: Do less of what's hurting you & more of what will help you.
Quote -
@PerceptivTrader
We always know exactly how much time we have in a day. Unfortunately, we don't know how much we have in our lifetime so it's important to maximize every second.
This post reminds me of an conversation I had with
@sjosephburns
during our Podcast interview.
#financialfreedom
As an athlete my coaches would always tell me to have a short memory & not get caught up over the previous play. I do the same in my trading. Once 1 is over, I don't hold on to it (emotionally) instead I move on to finding the next. Quote from
@PeterLBrandt
#quoteoftheday
#forex
Between learning how to trade and becoming consistently profitable at trading, comes a phase where you're thrown out into the wild & forced to prove that you can survive on your own. This experience is what ultimately earns you success. Quote is from
@yvanbyeajee
#WednesdayWisdom
Twitter follower accuses me of being too negative...I respond that I'm not negative, just sharing the reality of trading...He says I'm wrong...I ask him to please provide me an example...He blocks me....I'll take that as a win.
Many traders hate the idea of using rules because they think it limits them. Well, you know what, they are right! It does limit them... FROM MAKING MISTAKES! - Today's quote is from
@Sjosephburns
#Trading
#Forex
#Stocks
Trading's a journey of self-discovery & during it you'll learn a lot about yourself. When finding your fit as a trader it's important to understand that it doesn't just happen, you have to work for it. But man when things click it feels good! Quote from -
@MikeBellafiore
#Trading
Something that has taken my trading to the next level has been addition by subtraction. What I mean by that is not necessarily winning more, but manging m losses better so that they have a far lesser impact on my overal P&L
#SaturdayThoughts
#Trading
Missing trades is just as damaging as taking trades that you're not supposed. What causes missing trades? FEAR! Specifically fear of losing money. Remember losses are the cost of doing business in trading. THEY ARE NORMAL. Don't fear them, plan for them. Quote -
@RestartedTrader
Very few supported me when I 1st started trading. I had 2 choices. 1) Listen to them and give up on my dreams. Or 2) Use them as motivation to succeed. I went with the later & now those same people who laughed want me to manage their money or teach them how to trade as well.
Many traders hate the idea of using rules because they think it limits them. Well, you know what, they are right! It does limit them... FROM MAKING MISTAKES! - Today's quote is from
@Sjosephburns
#Trading
#Forex
#Stocks
Trading is a business. Winners are your income, Losers are your expenses & what's left is your net profit. So looking at things like this, WHY THE HELL would you think that you're supposed to win every trade? Can you name a business with no expenses? Graphic from
@JasonGraystone
I wanted to say that I appreciate the love you've shown me over the years. Excited to have reached the 20K milestone & although I'm only celebrating this because my mentor told me to celebrate all wins, the NUMBER of followers isn't nearly as important as the QUALITY!
#Thankyou
I've always believed that if you invest the right type of energy into doing the right type of things for the right type of reasons then it's never the question WILL I be successful, rather simply a question of WHEN? - Quote from
@sjosephburns
#Motivation
#Passion
@Goals
9 yrs ago I read the book that is now the 1st one that I recommend all traders read. To that point, I had only read books on technicals as I didn't understand the value of psychology. Wish I would've read it earlier but was still a massive help. What's your game-changing book?
Most traders don't struggle because they can't find an entry, they struggle because they are terrible at finding an exit. That goes for both where to take profit when you're right & when to call it quits when you're wrong. Quote from
@SJosephBurns
#Trading
#NewTrader
It's incredible what can happen when you believe in yourself. And when that belief starts to fade (and it will), surround yourself with those who will believe for you. We are nothing without a strong support system. In a world where everyone is against us, they keep us strong.
Recency bias is a big problem for many traders as we tend to let the outcome of our last trade affect our outlook on the next. Until you can learn to let the past go (good or bad) & focus on the consistent execution of your trading plan. You will struggle. Quote from
@yvanbyeajee
Hi, my name is Akil & I'm a professional trader. I have emotions. I have fears. I still get nervous when it's time to enter a trade. My heart still beats faster when involved in a trade. I still feel all of the same emotions that you feel. The difference is I DON'T ACT ON THEM.