Tom retweeted
Imagine a sniper who shoots because he is tired of waiting for the target.
He misses, reveals his position, and fails the mission.
Boredom is not a reason to pull the trigger.
It is part of the job description.
Tom retweeted
most traders think they're failing because they lack "alpha"
truth is most just lack a defined trading personality
imo the two main types of winners in this cycle are the grinder and the venture capitalist
the grinder treats the terminal like a video game
-high frequency
-low emotion
-stacking small/medium wins all day long
-compounding wins into a massive stack
the VC treats the terminal like their vc fund
-low frequency
-high conviction
-waiting weeks for one right coin or narrative to click
-sizing in heavy when the risk/reward is skewed in their favor
both are printing, but they rarely cross paths
the middle area of these trading personalities is where you blow up
it's the people trying to do both who get chopped up
they overtrade their high conviction plays and undersize their scalps
pick your lane and stay in it
-if you're fast, play the volume
-if you're patient, play the narrative
-ignore everything in between
become an expert at one and you'll have a much higher chance at being a profitable trader
Forgot I did this 😭 snapped tho
Caught a vibe for @nickvrnn & @homeofjerks ...check me out 🐸🐸🐸🔥🔥🔥
@Notnowitslit - "Home of Jerks FREESTYLE"
soundcloud.com/bartcooksnfli…
😭😭😭
Replying to @ppbnny @Esoteric005
Bitch my avg entry is 60k dumbass , better wit folks like this out the chart I stand on what I said. It’s impossible for me to lose money ..he a parasite & u need throat lozenges
Extremely good story and it highlights some of what I went through…
Cutting losses quickly and deading your ego is important to being a successful trader. Hopefully we all are learning that in this space. Market humbles everyone eventually
I had a trading mentor once. Not some guru with a course. A legit maniac who blew $400,000 of his own money before he figured it out
Now he makes $80,000 a month and hasn't lost a funded account in 19 months
I asked him what changed. He looked at me like I was stupid and said:
"I stopped trying to be right and started trying to be rich. Those are two completely different goals and most traders never figure out the difference"
He explained:
"When I was losing $400,000, I had the best strategy in the room. My analysis was beautiful. My charts looked like a professor drew them. I could explain why price should go to a certain level better than anyone. And I was dead broke. Because I was trading to prove I was smart, not to make money"
"What does that mean practically?"
"It means I would enter a trade, price would go against me, and instead of taking the loss I'd add to the position because my analysis said I was RIGHT. The market was wrong. It would come back. I'd move my stop. Add more. Move it again. Add more. By the time I finally accepted I was wrong, a $500 loss had become a $15,000 loss. Because being right was more important to me than being profitable"
"So what changed?"
"I made one rule. The only rule that matters. When price hits my stop loss, I'm out. No exceptions. No analysis. No 'but the market should...' Nothing. Stop hit. Position closed. Move on to the next setup. That one rule saved my career"
"That's it? Just honoring stop losses?"
"That's it. But you don't understand how hard it is. Your ego is screaming at you. Your analysis looks perfect. Every fiber of your being says 'just hold a little longer, it'll come back.' And sometimes it does come back. Which makes it even more dangerous. Because the one time it doesn't come back is the time you lose your entire account"
"He pulled up his journal and showed me two periods:
Period 1 (the $400k loss era): Average win: $2,000. Average loss: $8,000. Win rate: 55%. He was RIGHT more often than wrong and still hemorrhaging money because his losses were 4x his wins. He was right about direction 55% of the time but too stubborn to take small losses when he was wrong
Period 2 (the $80k/month era): Average win: $3,500. Average loss: $800. Win rate: 42%. He was WRONG more often than right and making $80,000/month because his wins were 4x his losses. Same strategy. Same chart. Same person. The only thing that changed was that he started taking his stop losses instead of fighting them"
"The math is so simple it's insulting. If your average win is bigger than your average loss, you make money. You don't need to be right. You need to let your winners run and cut your losers fast. That's the entire profession in one sentence"
"Why did it take you $400,000 to learn that?"
"Because every trading course teaches you how to ENTER trades. Nobody teaches you how to LOSE trades. Losing is a skill. Accepting that you're wrong quickly and moving on with a small loss preserved is the most profitable skill in trading. It's also the one nobody practices because it doesn't feel good and you can't make a sexy YouTube video about it"
"Any other advice?"
"Yes. Lose on purpose."
"What?"
"When you start on a demo account, I want you to deliberately take losing trades. Enter a trade and immediately hit your stop loss. Watch the $500 disappear. Feel it. Then look at your account and notice that you're still alive. The account is still there. You can still trade tomorrow. Do this 50 times. After 50 intentional losses, you'll never be scared of a loss again. And a trader who isn't scared of losing is the most dangerous person in the market"
You are broke because you never lost
That mentor taught me more in one conversation than 2 years of YouTube ever did
I teach this loss-management system inside my Discord. Free access in bio. Come learn how to make your first $10,000/month trading
Tom retweeted
HOW TO MAKE YOURSELF MORE VALUABLE AT WORK
1. Find out what problems cost your company money.
2. Learn how to solve one of them.
3. Keep a record of your results.
4. Get comfortable speaking in meetings.
5. Learn to explain your work in dollars and outcomes.
6. Build relationships with people who make decisions.
7. Know what competitors pay for your skills.
Being good at your job matters. Making sure people understand your value matters too.
Tom retweeted
First of all, this glorification is not new. I remember reading TRADER Magazine (yeah, bet yah too young to know about that). At least those were real traders.
Ask the real OG traders who they looked up to and you'll hear names like PTJ, John Arnold, Steve Cohen, Soros, Druckenmiller, Ken Griffin, and Jim Simons.
This doesn't even include the countless other unknowns
Ask them who Kimchi is and you'll probably get a blank stare.
There's this bizarre celebrity trader culture developing where people with large audiences and livestreams are being treated like some of the greatest traders alive.
Somewhere along the way, people started confusing being famous for trading with being famous because you're actually good at trading.
Those are two very different things.
the rise of traders as celebrities makes a lot of sense to me
most people can't realistically become the next LeBron, but they can learn how to trade from someone who started out just like them
that relatability, combined with the potential to make money, creates a different kind of connection between traders and their audiences
i expect that to become a bigger part of the social trading
$hugo gamble 6k
First human companion?
9KcwEpr7TnnaTuoXVcc3J4wxq5ptVr7fsH53w9M7pump
$Ribbit got in around 50k
78ZBbCJkwQjXxRJJ2xv4gXU1BZvAayrvysqF4bmZpump
Funny I got exposed to this $nihilism as well. Turns out it was the winner. 400k.
2ay4jNY3JxfuXJzhZ8DrAKkGzpirgD7Dv2ccL9zmpump
$hoodwf hood warfare viral asf, 29k. Been accumulating
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