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9 Learnings I got from my mentor when I was learning about Financial Markets and trading during my initial days.
9 Learnings I got from my mentor when I was learning about Financial Markets and trading during my initial days.
Lesson-1
Pay attention to the buyer and seller equation because patterns are bound to fail. Focusing on market structure and trends makes more sense as Trends can continue but patterns may fail.
2/11
Pay attention to the buyer and seller equation because patterns are bound to fail. Focusing on market structure and trends makes more sense as Trends can continue but patterns may fail.
2/11
Lesson-2
Markets have to be learned it cannot be taught. He said “I will guide what should be done, but you have to figure your way”
He never taught me any pattern, he made me understand market structure instead and said "Learn from everyone but form your own observations"
3/11
Markets have to be learned it cannot be taught. He said “I will guide what should be done, but you have to figure your way”
He never taught me any pattern, he made me understand market structure instead and said "Learn from everyone but form your own observations"
3/11
Lesson-3
New flow in markets is in four quadrants. Out of which the 1st quadrant is the most dangerous one (Unknown-Unknown). These are black swan events. You have to safeguard yourself and your capital from these days.
4/11
New flow in markets is in four quadrants. Out of which the 1st quadrant is the most dangerous one (Unknown-Unknown). These are black swan events. You have to safeguard yourself and your capital from these days.
4/11
Lesson-4
What works for you will only work for you
Focus more on building your own strategy. You can take inspiration from others but in the end, trading is your craft and you will have to nurture it by developing your own trading strategy.
5/11
What works for you will only work for you
Focus more on building your own strategy. You can take inspiration from others but in the end, trading is your craft and you will have to nurture it by developing your own trading strategy.
5/11
Lesson-5
Risk Management and Capital allocation per trade are key
Every successful trader has their own math, you will need your own equation to succeed. Your equation's job is to safeguard you from not get trapped in the Unknown-Unknown part of markets.
6/11
Risk Management and Capital allocation per trade are key
Every successful trader has their own math, you will need your own equation to succeed. Your equation's job is to safeguard you from not get trapped in the Unknown-Unknown part of markets.
6/11
Lesson-6
Never take a view from anyone on a Stock or a Setup
It is your setup that suits best to your psychology. He said “Don’t get into second guessing. If the trade setup suits you and your trading psychology, just follow it”
7/11
Never take a view from anyone on a Stock or a Setup
It is your setup that suits best to your psychology. He said “Don’t get into second guessing. If the trade setup suits you and your trading psychology, just follow it”
7/11
Lesson-7
No matter what your view about a stock/index is. If the trade has gone against you, just exit.
Don’t go over the internet to get confirmation bias - because when in trade, your mind starts playing with you more than the markets play with you.
8/11
No matter what your view about a stock/index is. If the trade has gone against you, just exit.
Don’t go over the internet to get confirmation bias - because when in trade, your mind starts playing with you more than the markets play with you.
8/11
Lesson-8
Always trade what you see not what you feel or hear.
What you feel and hear is noise. Trading noiseless help you to be focused and objective.
9/11
Always trade what you see not what you feel or hear.
What you feel and hear is noise. Trading noiseless help you to be focused and objective.
9/11
Lesson-9
Your profitability is directly proportional to how easy is your setup to execute.
The setup should have clear entry and exit levels. Defined plan of action before you pull the trigger.
Say ‘No’ to subjectivity and ‘Yes’ to objectivity.
10/11
Your profitability is directly proportional to how easy is your setup to execute.
The setup should have clear entry and exit levels. Defined plan of action before you pull the trigger.
Say ‘No’ to subjectivity and ‘Yes’ to objectivity.
10/11
Most of my trading success comes from getting the right mentor in the early stage of my trading journey.
Everyone needs a mentor in life no matter whatever profession they are in, we all need that guidance.
This thread is my tribute to my trading mentor!
11/11
Everyone needs a mentor in life no matter whatever profession they are in, we all need that guidance.
This thread is my tribute to my trading mentor!
11/11
That's a wrap!
If you enjoyed this thread then
1. Please re-tweet the first tweet and help me reach more learners
2. Follow me @kaushikaki
3. Subscribe to my YouTube @TheNoiselessTrader" target="_blank" rel="noopener" onclick="event.stopPropagation()">youtube.com
If you enjoyed this thread then
1. Please re-tweet the first tweet and help me reach more learners
2. Follow me @kaushikaki
3. Subscribe to my YouTube @TheNoiselessTrader" target="_blank" rel="noopener" onclick="event.stopPropagation()">youtube.com
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