Tradestl (@tradestl) 's Twitter Profile
Tradestl

@tradestl

Equity and options trader. #ozarktrades

ID: 1313459200660508672

calendar_today06-10-2020 12:41:20

422 Tweet

6,6K Followers

120 Following

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A month ago you couldn't get out of stocks fast enough, now there are no sellers in sight.... Talk about a V shaped bottom.

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The market is a great career but it can also suck the energy out of you.  I worked full time all day every day for 15 years. After a while you realize this is not sustainable if you want to maintain a normal life

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After 15 years full time I started to take off summers now I only work 2-3 hours a day and still make more than I did a few years ago.  Remember after a certain amount of money there is nothing that can replace lost time.  Enjoy you life as it goes too fast

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I think if more traders reviewed their wins/losses and really studied them it would enable them to work less make more money and be more happy.  Trader burnout is a real thing

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One thing that has helped me be successful is finding the work/life balance.  I currently work 15 hours a week but when I’m working I’m 1000% focused.  I have tons of free time and time away from the screens to rejuvenate and to avoid burnout

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$CRWV Never short an IPO, that is something I learned throughout the years. Even though the chart looks overbought it is not worth the fight. I learned this from $TLRY the hard way back in 2018

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One of the biggest fallacies of being a day trader is that you have to trade stocks every day. The best traders will pass on the majority of setups they see, waiting for that perfect setup that only comes around a few times a month or possibly even less

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When you just start out trading you want to multiply your account as fast as you can, leaving profits in your account to grow and compound.  After you become profitable it’s so important to pay yourself and take profits out of your trading account

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Successful traders who consistently take profits out of the market need a backup plan of some sort, a safe place to park cash. It could be real estate, mutual funds, treasuries ect.  It doesn’t really matter, but there is nothing better then watching it grow month after month

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The market is like a history book you can look at and study every single day. No matter what your trading style is, there is no better way to learn than studying previous winners

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Chart patterns often repeat themselves and the more charts you look at the more proficient you will be and the easier it will be for you to predict what could happen on your next setup

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I used to keep a binder of all big runners. One page would be the move on the way up and then another page of the move back down. When a new runner would pop up, I would go to the binder and see if any previous runners acted the same way

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In different cycles stocks will react differently.  As a short seller I always knew shorting in November and December could be extremely tricky.  This past year was a great example of that with the quantum names.  They were almost impossible to short

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Such an important topic in trading is position sizing. When the market is hot and you are trading well pushing your size is so important to having a big year.  Conversely if you are on a cold streak sizing down is important to preserving your capital. Know when to push the limits

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There are several rules to be a successful trader but the # 1 rule imo is to be a good risk manager.  At the end of the day good traders are good risk managers. Without properly managing risk and downside your career will be cut short

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It’s virtually impossible to mimic another trader to a T. How many out there have tried (and failed) to be the next Warren buffet?   We all have different abilities, see things differently and different risk tolerance and position sizing.    So many things go into making a great

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Hoping $CRWV does something silly like 200+ in the coming days and I may have to revisit this for a quick intraday short x.com/Tradestl/statu…

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Tax question.....I have multiple brokers and multiple 1099's. My cpa (who does specialize in trading) always does their own account reconciliation and the income always comes out out much higher than the 1099 resulting in significant more in tax payments. Does anyone's cpa just