The Trader's Edge: ๐งต (1/n)
2/n
Every trader comes into the market with a lot of optimism and hopes of getting rich. A few lucky trades and they think they know how to trade.
๐ "Phony Confidence"
Every trader comes into the market with a lot of optimism and hopes of getting rich. A few lucky trades and they think they know how to trade.
๐ "Phony Confidence"
3/n
When markets change, the trader may struggle & start losing money. The majority quits at this point, but some turn to books, courses, and "finfluencers" for guidance.
๐ "Despair"
When markets change, the trader may struggle & start losing money. The majority quits at this point, but some turn to books, courses, and "finfluencers" for guidance.
๐ "Despair"
4/n
With every finfluencer building his own tools & indicators, the trader tries on every tool that he likes like a new kid in a toy store.
With every finfluencer building his own tools & indicators, the trader tries on every tool that he likes like a new kid in a toy store.
5/n
Once the trader has tried everything they have an appetite for, they go on the hunt using the new tools.
But when the time comes to make a kill, the hunter is busy analyzing all his new tools and the prey evades
๐ "Analysis Paralysis"
Once the trader has tried everything they have an appetite for, they go on the hunt using the new tools.
But when the time comes to make a kill, the hunter is busy analyzing all his new tools and the prey evades
๐ "Analysis Paralysis"
6/n
With time & experience, the trader learns to use only a few best tools that suit their style and realizes that they need to be confident that they can make a killing.
๐ "Sustainable / Expert Confidence"
With time & experience, the trader learns to use only a few best tools that suit their style and realizes that they need to be confident that they can make a killing.
๐ "Sustainable / Expert Confidence"
7/n
Expert confidence, borne of deep fluency, allows us to understand the risks we are taking. ๐ง
Expert confidence, borne of deep fluency, allows us to understand the risks we are taking. ๐ง
8/n
In a picture, the roller-coaster journey looks something like this:
In a picture, the roller-coaster journey looks something like this:
9/n
No amount of Technical Analysis or indicators in the world will make you a good Trader.
The edge of Technical Analysis is Win Rate.
The edge of Trading is Risk/Reward.
No amount of Technical Analysis or indicators in the world will make you a good Trader.
The edge of Technical Analysis is Win Rate.
The edge of Trading is Risk/Reward.
10/n
A good Technical Analyst can be a bad Trader.
A good Trader can be a bad Technical Analyst.
Understand the difference.
A good Technical Analyst can be a bad Trader.
A good Trader can be a bad Technical Analyst.
Understand the difference.
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