Want to read Price Action like a pro?
Then get The Ultimate Guide to Price Action Trading
You’ll learn how to "decode" the markets so you can identify high probability trading setups consistently — and profitably
Click image below to download, it’s free
"A big mac doesn't cost $3.99, it costs your health."
"Netflix doesn't cost $17.99, it costs your time."
"Social media isn't free, it costs your focus."
"Lesson: There's always a hidden cost."
- Anonymous
Richard Dennis was a trader who trades the Futures market (during the 70s and 80s).
His rise to fame came when he was featured in Market Wizards as he took a $400 trading account and turned it into $200 million.
Here are 10 pieces of trading advice from the market wizard...
Jesse Livermore is possibly the most famous trader of all time.
He started trading at the age of 14 and amassed a fortune of $100 million in the 1920s.
Here are 8 powerful trading lessons you can learn from him...
(It'll save you a ton of money and heartaches)
Stop loss and position size go hand in hand.
If you increase your stop loss, reduce your position size.
If you decrease your stop loss, you can increase your position size.
Understand their relationship and you'll never blow another account.
If you’re broke, don’t be a trader.
Instead, get a job so you can pay the bills.
Then, you can learn how to trade.
This puts you in a position of strength as you remove “the need to make money” syndrome.
Doing this will 10x your chance of success.
If you’re broke, don’t be a trader.
Instead, get a job so you can pay the bills.
Then, you can learn how to trade.
This puts you in a position of strength as you remove “the need to make money” syndrome.
Doing this will 10x your chance of success.
There are 5 possible outcomes for your trade:
1. Breakeven
2. Small win
3. Small loss
4. Big win
5. Big loss
Eliminate
#5
and you’ve just taken a big step forward.
I tried chart patterns and failed.
I tried trading indicators and failed.
I tried harmonic patterns and failed.
I tried candlestick patterns and failed.
Eventually, I realized it was not the tools—but me.
And everything clicked.
How to filter for breakout stocks:
52-week highs
All-time highs
Rate of change
Increased volume
Low float
Market cap
Above 200 MA
Volatility contraction
Don't focus on goals like: I want to make $20k a month.
It will NOT improve your results.
Instead, focus on the process like:
I will follow my plan consistently regardless of the outcome.
I will stay out of the market when I don't have a setup.
There are 5 possible outcomes for your trade:
1. Breakeven
2. Small win
3. Small loss
4. Big win
5. Big loss
Eliminate
#5
and you’ve just taken a big step forward.
Many traders think you need to take high risk for high returns.
Wrong!
You should risk small, let your edge play out, add capital, and compound your gains over time—that's how you make it BIG.
Trading is not a job.
It’s a business.
An identity of the 5%.
An individual who is in control.
A belief that you can achieve when others fail.
An expression of your thoughts, feelings, and attitude—without discrimination.
Trading is freedom.
Ed Seykota is a Market Wizard and has achieved a return of 250,000% over 16 years.
If you want to learn his trading method and reduce your learning curve, then this thread is for you.
Here are 11 powerful lessons to get you started…
How to filter for breakout stocks:
52-week highs
All-time highs
Rate of change
Increased volume
Low float
Market cap
Above 200 MA
Volatility contraction
"A big mac doesn't cost $3.99, it costs your health."
"Netflix doesn't cost $17.99, it costs your time."
"Social media isn't free, it costs your focus."
"Lesson: There's always a hidden cost."
- Anonymous
I tried chart patterns and failed.
I tried trading indicators and failed.
I tried harmonic patterns and failed.
I tried candlestick patterns and failed.
Eventually, I realized it's not the tools—but me.
And everything clicked.
How to filter for breakout stocks:
52-week highs
All-time highs
Rate of change
Increased volume
Low float
Market cap
Above 200 MA
Volatility contraction
There are 5 possible outcomes for your trade:
1. Breakeven
2. Small win
3. Small loss
4. Big win
5. Big loss
Eliminate
#5
and you’ve just taken a big step forward.
Stop loss and position size go hand in hand.
If you increase your stop loss, reduce your position size.
If you decrease your stop loss, you can increase your position size.
Understand their relationship and you'll never blow another account.
There are 5 possible outcomes for your trade:
1. Breakeven
2. Small win
3. Small loss
4. Big win
5. Big loss
Eliminate
#5
and you’ve just taken a big step forward.
I wrote a 3381-word guide on price action trading.
If you want a copy, just reply “what’s up” and I’ll send you the link to get a copy.
(Due to limitations, I can only reply to the first 1000 people.)
Stop forcing trades when there’s nothing.
Instead, pick a level to trade where you’ll lose small when wrong—and earn big when right.
You pay less commissions, make less mistakes, and have less stress.
Trading will not make you rich.
At least not next week, month, or year.
But if you persevere, protect your downside, and compound your returns—you might just make it.
I tried chart patterns and failed.
I tried trading indicators and failed.
I tried harmonic patterns and failed.
I tried candlestick patterns and failed.
Eventually, I realized it's not the tools—but me.
And everything clicked.