The greatest trick the devil ever pulled was convincing you not to buy something solely because "it already pumped". As a result you not only end up accumulating deadweight like 2017 ghostchains, but also are positioned in the underperformers within rising sectors itself.

If the edge was fully in the strategy, everyone learning it would be banking. This is never the case. The edge is in you as the trader. It always has been and always will be.

Learning how price moves and where opportunities lie is one thing. Training your mind to stay calm and execute fearlessly in every situation is another entirely. You need both skills to make it in this business.

After having spent the better part of the last 5 years fully focused and dedicated to risk management, I can tell you that you are guaranteed to make mistakes. What always comes as no surprise to me is when I see all of the tell-tale signs of hubris in traders and try to warn

If your next trade isn't extremely obvious, just sit on your hands. Especially if you just took a loss, accept it and accept you might need to sit with the L for a bit. The market always swings from easy to hard mode and back again. Don't try squeeze juice that isn't there.

Comfiest place is holding spot bags with long term horizon while simultaneously jumping in and out of levered plays on the same bullish coins. Removes psychological barrier from taking profits during aggressive expansion while allowing you to catch the full meat of the move.

Never feel bad about missing a trade, there's always another. Never feel bad seeing others win, you aren't seeing their losses. And of course, always respect the pump.

Sizing down is the best way to scratch the FOMO itch when you want to buy at unideal prices. You won't be too upset if you're wrong, but also won't be upset from missing the move if it goes. Size up when there are bargains on the table and invalidation is close by.

One of the best pieces of trading advice you will ever hear. 👇 I've termed it Progressive Exposure.

When I reflect upon the best practices of this year, I'm reminded of this ubiquitous trading quote: “Win or lose, everybody gets what they want out of the market.” — Ed Seykota Did you come to the market with the resolve to make money? If so, then how much did you keep? That's

cleaning out my old notebooks, I found all sorts of gems... "Players tend to get attached to fancy techniques and fail to recognize that subtle internalization and refinement is much more important than the quantity of what is learned." Joshua Waitzkin

Ashford Trader My wife accused me of being addicted to trading. I agreed our relationship was getting choppy but I was convinced we could break out of it. So I asked her for another go with a clear target of where we wanted to be and a stop incase it didn’t work.

Trading is complicated because it is NOT (Win rate * RR) - (Lose Rate * RR) = Success It actually is the above and in addition: •Edge erosion •Backtest errors •Emotional mistakes •Liquidity issues •Black swans •No locates •No BP If your strategy does not have true

Trying to stay out of shit trades is like watching paint dry. It’s right there in front of you and you know you shouldn’t touch it but... Oh, fuck you shouldn’t have touched it.

In honor of Jim Simons, Here are 11 lessons from the greatest trader of our time:

3. The purpose of retirement is not to quit work. It’s to quit the type of work you have to do for money, so you can do whatever work you want and not need to stress about how much it pays.

The best trade management advice I ever received: "Give your trade some room to breathe." Sounds simple, but it contains some key lessons: 1. Don't use stops that are unnecessarily tight. Unless your entry is godly or the setup justifies it, give yourself a bit of space to be

1. Gaining an edge. He consistently outperformed the index with his first hedge fund achieving a Sharpe ratio of 3.0, which is absolutely insane. Here is a great speech of his discussing the importance of discovering an edge.

Steven Goldstein Every issue I’ve tackled in life from things as varied as learning to trade, to increasing my 5km run times, has been based on having a goal > making a process based plan to achieve it > following the process > regularly tracking the outcome against my intended goals > regularly

Fantastic post comparing Trading and Poker. yes, yes and yes! spectramarkets.com/amfx/trading-i…