Trader. Essentialism. Positivity. Accountability. Health & Wellness. โIf itโs not worth doing every day, itโs not worth doing any day.โ
#SetupsOverFriends
๐ธ
"I will do the work necessary each day to improve as a trader, continuously learn, develop trading skills, build good habits, and implement best practices to build the foundations of my trading business."
Always ADD value.
Be PRESENT.
Be PATIENT.
Execute.
@KobeissiLetter
@CasualtyWar
Itโs gonna end real well for anyone sitting on some cash waiting to buy a lightly used overpriced car that suddenly has no demandโฆ
@neel_trades
I made a giant leap when I started coming into each day with the mindset that my job is to take 0 trades and talk myself out of most. Then, I save my highest contributions for the best opportunities that show up. They arenโt everyday and I donโt NEED to trade everyday. The time
@LevinBurant
@unusual_whales
They are incentives for world brightest minds to make attempts at doing things that would make significant positive impact on society which are seemingly impossible to tackle with a high likelihood of failure.
If it was easy everyone would do it. But itโs not. So those who
@cellblock3138
Just reminds me of the scene from home alone when Kevin tells Marley to call his son.
We had a similar circumstance. Just remember part of their evil plan was to isolate and divide people. Letting it continue is only playing into their goal. Admitting wrong when taking such a
This book has meant a lot to me. This copy is now in my library.
75th anniversary edition of Reminiscences of a Stock Operator. Copy 838 of 1500 published.
Signed letter from the late Edward C. Johnson III inside who was CEO of Fidelity (one of my brokers).
This week was certainly a challenge. A lot of focus went into MEME Mania and how to make as much money as possible trading these stocks in either or both directions.
In my view this is when the market likes to challenge your process and edge. It takes you away from focusing on
@traderthiz
Pay it. Not question. Everyone knows the โ37k compounding in the market over time blah blahโ but the fact remains the psychological benefit and the amazing feeling of not owning is king and ultimately pays more.
Good on you bro! ๐ช๐ฝ
Bout half way through my multi-week move from MA โก๏ธ FL.
Stoked to get down there and get the desk up and running. Been having fomo and missing the collaboration and enjoyment it brings.
Hoping to be up and running July 1. Likely depends on internet connectivity.
Been
This post from Lukas
@TheShortBear
reminded me a lot of his Chat With Traders episode.
It reminded me how often you hear professional traders talk about the importance of treating trading like a business. But what does that really mean? I neglected it for a long time.
I actually learned this the expensive and time consuming way over many years.
Jumping from every room looking for the one. Turns out they all are pretty much the same. No one gives you the edge or the shortcut. You still are going to have to do it all yourself. Save yourself the
You donโt need courses that teach regurgitated and watered down information. All the best strategies have been written by LEGENDS, and published to send the elevator down to our generation (either free or small fee).
Spend a few hundred/thousand hours going through the following
Honestly its wild these are posted for free. Don't stop. Unprecedented value add.
Idk how they don't get 10,000 likes and dozens of questions.
You don't have to do this but I'm confident you will improve all parts of your trading if you decide to.
$SMMT Breaking News
Wonky executions, this was kinda a first for me as I typically don't trade breaking news but the news pending halt made this catchable. Sales could use some work per usual but happy with the overall process that went into this trade
Some conversation to end the week with the pod about underperforming based on your interpretation of how the market has been. How good you feel the setups have been. Where you feel you should be vs where you are. If your EC is or isnโt at all time highs.
Fact is youโll never be
โWe only swing at pitches we like. If anyone tried to swing at every pitch or felt that they havenโt swung in the last two pitches so they ought to swing at the third oneโฆโ
That would not be the way to do it. Wait for THE pitch.
Last night, in preparation for today, I reviewed, watched and took notes on a few things highly relevant.
I reviewed several recent opportunities for mean reversion trades:
1. I reviewed the charts on multiple time-frames
2. I reviewed my notes and other traders' notes from
This is what youโre up against when you decide to become a trader. You think itโs easy money but you have no idea the mindset, knowledge, and brain power of those that are at work 18-20 hours a day to find and exploit and edge.
The time/work it takes to succeed, and the art and
Jim Simons performance is the best ever.
66% per year on average for 30 years.
At this rhythm $100 would turn into $401,090,745 within that time frame.
In other words, the self imposed liquidity cap of $10billion would have been reached after 30 years if Jim started with $2.5k
@itsmekimmyjo_
@MarioNawfal
Yes. If you actually read the post. It clearly says the third party firm added a 10k multiplier to all options trades, not just the DJT trade. They did not catch the mistake by the third party firm. So this was 34 contracts or notional of 3400 shares. Not 34,000 contracts or
@MikeBellafiore
Specifically, one big question within the โwhat could you have done betterโ section:
where/when could you have added more size without greatly increasing your risk
Lot of people out there tryna quant these and rely on scans alone for finding EP trades.
Iโve had the conversation numerous times that the nuances that make a GREAT EP are not something a scan will develop results from.
The ONLY way to find the BEST ones consistently is to dig
Just finished the book "Big Mistakes: The Best Investors and Their Worst Investments."
There is such a load of information in this. I enjoyed it as a change of pace. So many good quotes and references. All the big boys landed in the book.
The big picture takeaway is even the
Wake up every morning thinking about how to be dangerous. Itโs non-negotiable.
Edge in this world comes from doing things other refuse to do that are hard. Easy is for a reason.
Donโt just go through the motions. Complete tasks effectively, efficiently, thoroughly and with
@MikeBellafiore
What could you have done better, why are those details and nuances important, and what solutions can you implement in your process to make sure next time you will execute what we reviewed.
An honest conversation with myself:
I have taken the last few weeks away from trading, unplanned & unrelated to me.
With the opportunity to reflect and see alternate perspectives, I have identified major shortcomings I MUST address before itโs too late.
I have big goals and
@PradeepBonde
Iโve been yelling this for a while now. There is a difference between EP, PEG, and breaking news.
All can appear to the novice similar based on initial reaction in the chart (gap & vol).
But how big the move is, how long it lasts, and slope of price relative to time that
Heading into 2024 my focus is going to remain on perfecting my discipline and removing distraction.
Part of that for me includes avoiding social media and outside influence on my trading style/playbook.
I donโt believe it is a coincidence I finished the year with back to back
$RUM what an unbelievable opportunity this week.
Will be doing an in depth review of this trade.
Asymmetric R/R and EV = exponential growth opportunities.
@madaznfootballr
Whatโs the point of making multi millions if you donโt enjoy it? I get the long game. I do. Goal dependent too. But you make 10-20-30m why wouldnโt you enjoy some of it? Just to have more of it down the line and see a bigger number when you wake up?
You could walk outside
@BRICKW0RLD
5 fouls in a close game with 4m to go.
Couldnโt risk ref making a BS call or making a bad play. Teammates should recognize thatโs a major mismatch at that point and have been cheating to help.
Make no mistake as it is no mistake. Pay attention to the under followed accounts posting the "boring stuff" you don't even take the time to fully read.
It's where the real work ethic is. It's where the true understanding is. It's where the real traders are.
The path for
THE
#1
QUESTION I GET ASKED !!
"How did you get into SMB?"
I emailed the HR department my DRC, Write-ups/Playbooks, Weekly Reviews, and Monthly Reviews every day from 1/2023 to 11/2023
Attached below is the level of work that I was sending๐
It can be done alone but together we are stronger, smarter, faster, better.
I've been in many rooms and fact of the matter is I've always been better off without 99% them. I have met some great people and close friends inside these rooms but at the end of the day the vast
Famous saying goes โYou are the average of the 5 people you spend the most time with.โ
And yet aspiring traders wonder why rooms and chats full of nonsense drag them down.
Be as discerning about your trading mentors as you would your best friends. Results will follow.
$COIN $MARA $BTC, etc.
The discussion around the news and the bias coming into today from my perspective. Please feel free to engage and let me know your ideas and thoughts.
The move on all the crypto names went several weeks into months. A few of them like $MARA and $COIN
โMost people arenโt obsessed with their goals because they donโt really think they are worthy of them. It is easy to dream about what you want. But in between where you are and what you want, there is a tremendous amount of hard work and discipline required to get there.โ
Eleven Rings by Phil Jackson:
Forget the ring. Being fixated on winning, or more likely, not losing, is counterproductive. Especially when it causes you to lose control of your emotions.
What's more, obsessing about winning, is a loser's game. The most we can hope for is to
Today was a great example of things lining up for an excellent opportunity.
Trading day-to-day for whatever reason makes it easy for us to get complacent in our thinking that this setup is similar to any other previous one. It's just another rubberband. It's just another XYZ.
Best day in many weeks today. Focused on one setup that was developing I know has asymmetrical risk/reward. $PRZO
A key takeaway today: After a period of contraction comes expansion. With that period of expansion, especially in a small cap ticker, we need to expect an increase
What are some key takeaways from your week? โ๏ธ
Snip it from my Weekly Reviewโฆ.
The TLDR Rundown:
1.Periods of contraction lead to expansion - donโt get biased on direction when the setup is there.
2.Continue to do less. Iโm seeking out ONLY the highest quality setups from
Talk about this at length and believe it to be true through and through.
Was having a bit of a frustrating week before today. Seemed to miss or not capitalize on all the opportunities which is inexcusable - but besides the main point. Was able to take some nice easy setups.
I
โThere arenโt many avenues in life worth pursuing that you can master in weeks..โ
โSometimes you have to get uncomfortable to make progressโ
โDo itโ
@TradesTurbo
Fun to listen to Sam chat tonight. Glad I got to tune into some of it. Some great takeaways from the bit I was
I've learned this lesson a lot of times over the 10 years I've been trading.
I can end up spending a lot of time and energy on the hot chick and forget about my A+ easy money setups all around.
I did good this week keeping one eye on SMCI/NVDA and still trading my easy money
Baby
#2
is expected any moment now.
Iโm running last minute scans to come up with good list of first and middle names starting with E then P or reverse P then E.
That way I can name my kid EP or PEG and tell my wife in a few years it has meaning to our lifestyle for numerous
From this week's review:
First off so it's not hidden at the bottom - Thanks to the ones out there engaging with me and talking about these things with me every day as they unfold and in spare time. Collaboration is key in growth. Anyone ever interested in reviews and
$PLUG food for thought for now...
Everyone knows this is a trashy company
Everyone knows this could be a BK candidate
Everyone knows this is a cash-burning machine
Everyone knows they have massive dilution
Everyone knows this HAS to go down cause it's up over 100% from local
Thatโs a fantastic take-away from what Iโm sure was a great event with elite traders
You donโt rise to the occasion you fall to the level of your training.
Itโs not the hours spent in the game itโs the hours spent when no one else is around. When everyone who wants what you
One of my fav lessons from the
@smbcapital
Miami event was that I spend way too much playing ball instead of learning how to play.
Seeing
@ozairmadhani
focus on writeups/studying got me thinking: Why is my effort going towards actual execution when most of it should be studying
$MARA
โThe first step to being prepared for the next one is to review the most recent one.โ - me๐๐ฝ
I spent a large portion of review in 2023 building out and refining a mean reversion playbook.
I have always significantly underperformed on the short side and I had no one to
@DolanVKent
Long, Short, Calls, Puts, ETF's, funds, insiders, traders, investors, earnings, financial documents, PR's/timing, dilution, SBC, interest rates, fed, presidency, etc, etc, etc...
An edge can be executed without a master-level education in the above and more. But I have never met
Kids one year old. Watching the masters intently and just ate medium rare grilled steak and about 6 scallops wrapped in bacon.
Spoiled as shit but cracking me up with his appetite and mannerisms at 1.
As a momentum burst or swing trader you canโt get sucked in to selling good entries early to try and catch a correction or pullback.
If you do so you will always miss the biggest and baddest moves.
Consistency in selling a small piece into strength and accepting the risk to
Good thing I didnโt sell here when my opinion told me we were extended and due for a pullback. Iโd be livid with myself. Why itโs important to sit in winners, raise stops, and let it trade
@daytradingzoo
Yes. Lower win rate but a higher profit factor.
Winners could and should be 10-50-100x what a loss would be for same setup.
Best ones work right away and donโt give you a second shot to capture the same R:R based on EV.
$META perfect reminder of what we saw in $COIN. Been saying it for a few days now and it played perfect.
When it canโt breakdown on bad or negative news and digests on elevated RVOL the upside move is violent.
Plenty left on the bone.
This is a key element in compounding your efforts.
Bot just the review. But what did you learn? Where did you screw up? What could you have done better? Did you miss the trade all together?
Most importantly; what are the solutions to your error? What best practice can you
During trade review, I highlight the ones to learn the most from.
This week:
M: $VFS - Should've sold more into strength on the breakout
Tu: $TSLA - Should've sold more into strength on the breakout
Wed: $MGOL $WOOF - Should've sold more into strength on the breakout; High
@daytradingzoo
@HegemonicTrader
I think regional trading coops is a really great idea.
@sanglucci
got this going in PR. It hasnโt caught on yet. Thereโs deff enough traders out there to have one near or around most major metro areas.
I think the best part about living in costal Florida is getting to the beach multiple times a day knowing itโs almost always gonna be above 70 degrees.
Before, during and after trading hours.
The ocean is medicine and I love to take advantage of this.
@MoistMango12
I see your point in having a deep understanding of the market and various plays. Especially to pick up on some nuances that can be helpful for other trades in the playbook.
Can I get the same benefits from watching it and reviewing it but not trading it - saving myself all that
You have to be present to take advantage of the opportunity because you donโt know when these days will show up.
You have to have a workflow and process to identify the tradable setups.
1. Daily technical setup based on EV of move
2. Fundamentals/News or "agenda"
3. Intraday
This book has meant a lot to me. This copy is now in my library.
75th anniversary edition of Reminiscences of a Stock Operator. Copy 838 of 1500 published.
Signed letter from the late Edward C. Johnson III inside who was CEO of Fidelity (one of my brokers).
@mvnnnyyy
TY Manny. You follow and partake with some of the greats of the X Underground Wrld like
@SperoTrades
@neel_trades
@ozairmadhani
@BensStocks_
sharing the real process loop you need to partake in for best chances of success. Keep following the right ones and doing the dirty
Please everyone take some time to look this over and give me some feedback here or in DMs. I know you're gonna click the link so actually take the time to provide the feedback you feel is constructive.
The intent behind this is to be comprehensive. It may be repetitive at times.
This is the Daniel Negreanu.
6x poker world champion and 7th richest poker player in the world.
He said: "If you focus on the result, you're focusing in the wrong place."
Here's my favorite 7 poker concepts that made me a better trader:
Give it a quick read. Might help reinforce what you already know to be true!! Sometimes, you just have to be reminded.
โTA01 - Don't Cheat the Entry (VOLUME)โ
Gohlke confirming once again what we already know but is easy to forget:
hard work and positive mindsets beat talent. This applies to EVERYTHING.
Get after it. ๐ช๐ฝ
"You have to think you have the same talent level as them. I know they have draft picks and I know I'm not going to the NBA, but I know on any given night, I can compete with those type of guys and our team can compete with those type of guys."
โ
@OaklandMBB
's Jack Gohlke
I have never used
@KoyfinCharts
before this weekend.
I have to say I'm unbelievably impressed with everything they have available.
It is a great platform, easy to use, and pretty much everything you could ever want to look for is there. I see this becoming a staple.
Fact of the matter is it doesnโt matter the outcome after the fact. What was the setup? WHY? How did we get here? Where did we come from? What did you do at the time? How were you feeling? How could you have done better? How could you have added more size for no additional risk?
@neel_trades
Was thinking more about this last night as it is an important part of our trader identity for long-term success.
I have this slide in my trading business plan. I wanted to share with you & others since it feels as though our post resonated with a few other traders.
Not sure
@LeifSoreide
@johnscharts
It is a spreading misconception that an earnings gap and a EP is the same.
Many donโt differentiate the important nuances between the two that make them completely different setups.
"A systems first mentality provides the antidote: when you fall in love with the process rather than the product ($), you don't have to wait to give yourself permission to be happy. You can be satisfied anytime your system is running."
@BensStocks_
You donโt know what you donโt know + time.
Itโs incredibly difficult to comprehend the amount of information you need to understand & process plus be good at to have a chance at being successful.
When you first start you can think you know plenty.
Then days, months, years
This mornings reflection on whatโs around me:
I make it a point to exercise and eat healthy daily. The fuel for our body and keeping in shape is key for so many reasons in this short life.
Weโve gotten to a point in society where we are so unhealthy that walking is considered
Everyone will have moments of weakness.
The desire to stop. Break your discipline. Take the โeasyโ path.
Take a step back, minutes of silence & deep breathes.
That moment will pass.
$NVDA - Reduced to 1/4 at $890 pivot
$GCT - Reduced to half at $40
$BMR - Full size since yesterday
Three trades. Same theme. Big moves. Low-risk entries.
Helluva Friday.
The 10,000 hour rule is based on becoming the best of the best: it requires a tremendous amount of practice to reach the top 1% inย a given field.
It takes 10,000 hours of practice to become an expert in any given field. And not just any practice, but deep practice thatโs
Bout half way through my multi-week move from MA โก๏ธ FL.
Stoked to get down there and get the desk up and running. Been having fomo and missing the collaboration and enjoyment it brings.
Hoping to be up and running July 1. Likely depends on internet connectivity.
Been
@TradetheMatrix1
As you know volume on breakouts (or lack there of) is only one piece to a puzzle
Many continuation moves occur on elevated but not significant RVOL.
But RVOL relative to price for a BO tells us that with higher RVOL we should expect to see a faster move away from price.
If