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Recommended Books for a Trader from Beginner to ExpertHere is my subjective list of recommended books for traders. While there is some overlap in the material—especially regarding technical analysis and risk management—each book offers unique concepts and tools, enriching your learning path and expanding your skillset. I'm not sharing any links but all books are easily accessible on the internet. Beginner Level: 1. “Trading the Trends” by Fred McAllen This book introduces readers to the fundamentals of market operations, technical analysis, and option trading. McAllen, a retired stockbroker and active investor, emphasizes the importance of recognizing market trends early and provides strategies suitable for long-term investing. The book includes real-world examples to help readers understand and apply trend-trading techniques effectively. 2. “How to Swing Trade” by Brian Pezim & Andrew Aziz Co-authored by experienced traders, this book focuses on swing trading strategies, which involve holding positions for several days to weeks. It covers topics such as identifying profitable trades, managing risk, and understanding market psychology. Additionally, the book introduces fundamental analysis concepts, aiding traders in making informed decisions. Andrew Aziz is the founder of Bear Bull Traders, a community of independent stock traders and analysts. Intermediate Level: 3. “Charting and Technical Analysis” by Fred McAllen In this comprehensive guide, McAllen delves deeper into technical analysis, teaching readers how to interpret price movements and market trends. The book covers various charting techniques, candlestick patterns, and indicators, providing readers with the tools needed to make informed trading decisions. It's designed to help traders recognize market tops and bottoms, entry and exit points, and understand the dynamics of buying and selling pressures. 4. “How to Day Trade for a Living” by Andrew Aziz This book offers a comprehensive overview of day trading strategies, including risk management principles and the configuration of stock screeners. Aziz shares his personal experiences and insights, making complex concepts accessible to intermediate traders. The book also provides guidance on developing a trading plan and maintaining discipline in the fast-paced world of day trading. Andrew Aziz is the founder of Bear Bull Traders, a community of independent stock traders and analysts. 5. “The Wyckoff Methodology in Depth” by Rubén Villahermosa Villahermosa provides an in-depth exploration of the Wyckoff methodology, focusing on principles such as accumulation/distribution, markup/markdown, cause-effect and other. The book includes numerous case studies that demonstrate the application of these techniques, making it suitable for both day and swing traders. Readers will gain a solid understanding of market cycles and the behavior of different market participants. Expert Level: 6. “Wyckoff 2.0” by Rubén Villahermosa Building upon his previous work, Villahermosa introduces Volume Profile analysis and integrates it with Wyckoff principles. This advanced material is designed for experienced traders looking to deepen their understanding of market dynamics and enhance their trading strategies. The book provides detailed explanations and practical examples to help traders apply these concepts effectively. 7. “Markets in Profile” by Jim Dalton Authored by a renowned industry expert, this book explores Market Profile analysis, a tool used by many traders to understand market behavior. While it may not be highly practical for all readers, it offers substantial insights and encourages traders to think critically about market structure and participant behavior. The book emphasizes the importance of context in trading and provides a framework for understanding market movements. All Levels: 8. “Trading in the Zone” by Mark Douglas Focusing on trading psychology, this book addresses the mental aspects of trading, such as discipline, confidence, and risk perception. Douglas provides insights into developing a winning mindset and overcoming common psychological barriers that traders face. It's a valuable read for traders at any level seeking to improve their mental approach to trading. Let me know what you think
COINBASE:BTCUSDEducation
by hermes_trisme
Must-Read Investing Books: The Top 5 for Every InvestorWelcome to Part 2 of our must-read book series. Last time, we took a deep dive into the fast-paced world of trading, giving you the trading must-reads to sharpen your short-term, high-risk market chops. Now it's time to slow down and shift into a lower gear. Trading is a thrill, but investing is where the long game pays off. While trading is about timing, investing is about patience—and, some might even say, good investing is boring. So let’s be real, mastering both is how you dominate. In this Idea, we’re focusing on the timeless art of investing. Whether you’re gunning for that Warren Buffett-level compound interest or just looking to stack up some dividends, these five books will teach you how to think like an investor. Grab your coffee and your notepad—let’s dive in. 📖 1. The Intelligent Investor ✍️ by Benjamin Graham We’re kicking things off with the granddaddy of all investing books. Benjamin Graham’s The Intelligent Investor is the Bible of value investing. Benjamin Graham is the father of value investing, and his no-nonsense approach to buying undervalued stocks and waiting for the market to catch up is the gold standard. Graham teaches you how to analyze companies for their intrinsic value, while cautioning against the emotional rollercoaster of market volatility. It’s all about buying low, staying patient, and letting time do its thing. 🔑 Key Insight : Ignore market noise and buy undervalued assets with a long-term view. Stick to your strategy and let time do its thing. 📖 2. Common Stocks and Uncommon Profits ✍️ by Philip Fisher Philip Fisher introduces growth investing with a focus on buying quality companies. In Common Stocks and Uncommon Profits , Fisher explains his "scuttlebutt" approach—researching a company thoroughly, from its management to its industry (think investigative journalism on a stock). This book is a must-read for those looking to spot the next Apple AAPL or Amazon AMZN before they become household names. 🔑 Key Insight : Invest in great companies with solid growth potential. Deep research is your key to success. 📖 3. The Most Important Thing ✍️ by Howard Marks Howard Marks is a legend in the world of risk management and value investing, and The Most Important Thing is essentially his playbook. Marks dives deep into risk, market cycles, and contrarian thinking—he teaches you how to avoid getting wrecked by the market’s irrationality. This isn’t your typical book on the topic of investing; it's a mindset shift and an eye-opener—everyone is a genius when markets rise. But what defines the true investing skill is how you perform in tough times. 🔑 Key Insight : Success in investing is more about managing risk than chasing returns. Protect the downside, and the upside will take care of itself. 📖 4. The Little Book of Common Sense Investing ✍️ by John C. Bogle John Bogle—the finance genius who invented the index fund—drops some serious knowledge in The Little Book of Common Sense Investing . This book strips away the complicated jargon and exclusivity surrounding Wall Street and keeps it simple: low-cost index funds will beat active management in the long run. Bogle’s philosophy is all about minimizing fees and letting compounding work miracles over time. 🔑 Key Insight : Keep it simple. Low fees and long-term compounding are the keys to building wealth. 📖 5. The Essays of Warren Buffett: Lessons for Corporate America ✍️ by Warren Buffett and Lawrence Cunningham Okay, we all know Warren Buffett is the GOAT when it comes to investing. The Essays of Warren Buffett is a collection of his legendary letters to Berkshire Hathaway BRK.A shareholders, curated and organized to offer a behind-the-curtain insight on everything from corporate governance to value investing. Buffett has a knack for simplifying complex financial ideas, making this book an invaluable resource for investors of any level. 🔑 Key Insight : There’s no better teacher than Buffett when it comes to long-term, value-based investing. His wisdom is timeless and actionable—invest in solid companies with long-term growth prospects, and don’t get distracted by short-term market swings. 📚 Bonus Picks: The Investor’s Library Expansion Pack Looking for even more wisdom? Here are a few more titles to round out your investing education: 📖 The Snowball by Alice Schroeder A biography of Warren Buffett, The Snowball takes you inside the mind of the Oracle of Omaha, showing how his investment philosophy developed and how he built his fortune. It’s part investing guide, part life lesson, and all-around a fascinating read. 📖 The Psychology of Money by Morgan Housel This book explores how our emotions, biases, and behaviors affect our financial decisions. The Psychology of Money breaks down complex financial concepts into easily digestible stories that reveal how investors can avoid the psychological traps that lead to poor decision-making. 📖 One Up on Wall Street by Peter Lynch Legendary investor Peter Lynch shares his strategy of finding "tenbaggers"—stocks that increase tenfold in value. Lynch teaches that sometimes the best investment ideas are right in front of you—pay attention to the businesses you love and understand. 📖 A Random Walk Down Wall Street by Burton Malkiel Random Walk argues that trying to time the market is a fool’s errand. Instead, Malkiel promotes the idea of efficient markets, where it’s almost impossible to outperform the market consistently without taking on substantial risk. It's an excellent guide for those who believe in passive investing and long-term strategies. 📖 Mastering the Market Cycle by Howard Marks Another essential from Howard Marks, Mastering the Market Cycle teaches you how to recognize the ups and downs of the market and adjust your strategy accordingly. Timing the market may be impossible, but understanding its cycles will give you an edge. And there you have it—five more powerhouse reads to add to your investing library. These aren’t just books; they’re roadmaps from some of the sharpest minds in finance. Whether you’re looking for market cycles with Howard Marks or tapping into Warren Buffett’s timeless wisdom, each of these picks will help you get better in the long game. The best investors aren’t just lucky—they’re educated, patient, and, most importantly, they’re always learning. So grab a book, dive in, and start stacking knowledge that compounds just like your portfolio should. 💎 Got any personal favorites that didn’t make the list? Drop them in the comments—we’re always down to discover more investing wisdom!
SP:SPXEducation
by TradingView
2
Top 5 Books Every Trader Should Have on Their ShelfLet’s face it: there is more to trading than blindly smashing the buy and sell button after you’ve picked up the latest buzz on Reddit’s messaging boards. What’s happening between your ears is just as important as what’s happening on your charts. And sometimes, it might as well help you make sense of it all. So, where do you start if you want to sharpen your edge? Books . Real, old-fashioned, mind-expanding books. The kind of reads that will school you in both the mechanics and mindset of trading. Forget the social media noise—we’re listing five books that will hand you the wisdom, strategies and mental toughness you need to not just survive but thrive in the seemingly chaotic world of markets. Let’s get into it. 📖 1. Reminiscences of a Stock Operator ✍️ by Edwin Lefèvre 🧐 What’s it about : This is the OG of trading books. A classic that was first published in 1923, it follows the life of the legendary trader Jesse Livermore, who made and lost millions more times than most traders have had profitable months. It's less of a step-by-step guide and more of a philosophical deep dive into what drives traders to win, lose, and repeat the cycle. 💡 What’s the takeaway : You’ll find yourself nodding along, thinking, “Yep, been there” every few chapters. And trust us, Livermore’s lessons on greed, fear and market timing are still as relevant today as they were a century ago. 📖 2. Trading in the Zone ✍️ by Mark Douglas 🧐 What’s it about : If there’s one book that will help you stop blowing up your account because you’re caught in emotional trades, this is it. Mark Douglas breaks down the psychological barriers traders face and teaches you how to think in probabilities. Spoiler alert: The market owes you nothing. Douglas teaches you how to embrace the uncertainty of trading and act probabilistically—playing the odds, not emotions. 💡 What’s the takeaway : If you're constantly getting blindsided by your feelings, there is a high probability that this book will snap you out of that spiral and teach you how to approach the market with a level head. 📖 3. Market Wizards ✍️ by Jack D. Schwager 🧐 What’s it about : Ever wish you could pick the brains of the world’s greatest traders? Jack Schwager did it for you. This book is essentially a collection of interviews with the top traders of the 80s (think Paul Tudor Jones, Bruce Kovner, and Richard Dennis). Schwager’s interviewing style makes it feel like you’re sitting in on private conversations, absorbing their secrets, strategies and market philosophies. 💡 What’s the takeaway : There’s no single “right way” to trade. Whether you're a scalper or a trend follower, you’ll find someone here who matches your vibe. Plus, these stories prove that anyone—from a college dropout to a former blackjack player—can conquer the market with the right mindset and persistence. 📖 4. Technical Analysis of Stock Trends ✍️ by Robert D. Edwards and John Magee 🧐 What’s it about : If you’re serious about technical analysis, this is the trading bible. Originally published in 1948, this book largely introduced the world to concepts like trend lines , support and resistance , head-and-shoulders patterns , and much more. Edwards and Magee laid the foundation for almost every technical analysis tool you see around today. 💡 What’s the takeaway : This gem will teach you how to recognize trend changes, continuation patterns, and reversal signals that can sharpen your trading entries and exits. 📖 5. The Alchemy of Finance ✍️ by George Soros 🧐 What’s it about : If you want to understand not only how to trade but also how the world of finance operates, this is the book. Written by one of the most successful (and controversial) investors and currency speculators of all time, George Soros, The Alchemy of Finance is part autobiography, part deep dive into Soros' legendary "reflexivity" theory. It's not just about looking at price action—it's about understanding how traders' perceptions affect markets, often driving them in irrational directions. 💡 What’s the takeaway : Soros teaches you to think bigger than charts and numbers—to anticipate shifts in market psychology and position yourself accordingly. Wrapping Up You can binge all the videos, tutorials and online courses you want, but nothing beats the distilled wisdom found in a great trading book. These five reads are the perfect balance of trading psychology, real-life stories, and technical analysis insights that will help you become a better, more knowledgeable trader. Bonus tip : if you start now, you’ve got a couple of months until Thanksgiving when you can brag about how many pages you read. 📚 Additional Picks for the Avid Trader If you’re hungry for more insight, we’ve got a few additional picks for you. Of course, they offer a wealth of knowledge from market titans and cautionary tales from the trading trenches: 📖 More Money Than God by Sebastian Mallaby A brilliant history of the hedge fund industry, revealing the strategies and personalities behind some of the greatest trades ever made—and showing you how the masters manage risk and opportunity. 📖 When Genius Failed by Roger Lowenstein A cautionary tale of Long-Term Capital Management, the "genius" hedge fund that imploded in spectacular fashion. Learn what happens when ego and leverage collide in the financial world. 📖 The Man Who Solved the Market by Gregory Zuckerman This is the story of Jim Simons and his secretive firm, Renaissance Technologies, which revolutionized trading with quantitative models. It’s a must-read for anyone intrigued by the world of algorithmic trading. 📖 Big Mistakes by Michael Batnick Everyone makes mistakes—especially traders. This book dives into the biggest blunders made by history’s top investors and traders, showing you that even the greats are human—and how to avoid repeating their costly errors. 📖 Confusion de Confusiones by Joseph de la Vega Originally written in 1688, this is one of the first books ever on trading (to many, the first ever), set during the time of the Dutch stock market bubble. It may be old but its lessons on speculation, greed and market psychology are as timeless as they come. 🙋‍♂️ What's your favorite book on trading and did it make our list? Comment below! 👇
Education
by TradingView
10
Books on trading and Profitunity strategy by Bill WilliamsIn this article, I will share books that were useful for me in the process of studying trading and the Profitunity trading strategy by Bill Williams. Bill Williams "Trading Chaos 1 and 2" ♡ The first and third books by Bill Williams contain complete and up-to-date information on the Profitunity strategy. The second book "New Trading Dimensions" is intermediate and less relevant. The book Trading Chaos 1 includes trading psychology (an integral part of trading), the basics of understanding the markets, candlestick patterns (divergent bars and determining the trend based on a pair of bars, the market facilitation index, volume and squat bar), Elliott waves (characteristics, determining waves using the MACD 5/34/5 indicator, an analogue of the modern Awesome Oscillator, and the Fibonacci ratio), fractals, trading in waves (impulses 1-3-5 and ABC correction). And also very important topics — how to work with your internal structure and how our brain functions (Chapter 11). The book Trading Chaos 2 (co-authored by Bill Williams' daughter Justine Gregory) includes a description of the Alligator indicator in combination with the Awesome Oscillator, divergent bars and fractals. And also tools for working on yourself - morning pages (Chapter 13, from the book by Julia Cameron "The Artist's Way") and autogenic training for traders by Johannes Schultz (Appendix 3). Tom Hougaard "Best Loser Wins" ♡ The book greatly expands the perception of markets, the approach to trading and deeply describes the psychology of trading. The book was first published in 2022 and perfectly complements the books by Bill Williams. John J. Murphy "Technical Analysis of the Futures Markets" A basic book on classical (linear) technical analysis, which also contains up-to-date information on Elliott Wave Theory in addition to the corresponding section in the book by Bill Williams "Trading Chaos 1". Alexander Elder "Trading for a living" (How to Play and Win on the Stock Exchange) A book on the psychology of trading and classical chart analysis, includes a detailed description of popular indicators and a description of the basic strategy "Three Screens" (analysis of the chart on the senior and junior timeframes), as well as an important topic "Risk management". Steve Nison "Japanese Candlesticks" A basic book on classical candlestick (bar) analysis. Thomas DeMark "Technical Analysis - a new science" Constructing trend lines based on the support price minimums and maximums described in the book led me to search for an indicator that displays such bars, as a result, I first became acquainted with the Bill Williams Fractals indicator, even before I became acquainted with his strategy. Theodore Dreiser "The Financier" ☽ A novel published in 1912 based on the life story of the American millionaire Charles Yerkes (1837-1905). The book shows how the financial and economic environment surrounding the main character (Frank Cowperwood) already from childhood forms in him the psychology of a businessman and stock dealer... Robin Sharma "The 5 AM Club" ☆ This book is not about trading, but about healthy habits. But for me the book became useful, including in trading, because I made the following conclusion for myself - it is important to rest (take breaks) every day, and not only on weekends and vacations. And it is worth starting with the fact that after waking up there is free time (about 1 hour) before business activity begins, i.e. either wake up earlier, or move all things forward, so that you can start your day easily. And taking breaks in trading is very important, so I recommend paying attention, for example, to the algorithm for removing limitations using neurographics. (◉ ‿ ◉) There are many good books, as well as good strategies, but I am sure that only independent deep study, practice, good concentration and self-control will allow you to find your own understanding of the markets and your own approach to successful trading.
CME_MINI:ES1!Education
by grigorykov
AUDNZD. one of the best book ever you gona read on trading.book notes my faviourit trading book. youtu.be all was looking for parallelisms of behavior learning read the tap. all I knew was the arithmetic of it it was a matter of fact mine was the ideal way to operate in a bucket shop. being right by using your head if I was right when I tested it was one man's business to anyhow it was my head wasn't it prices either were going the way doped them out help from friends or partners or they are going other way and nobody could stop them out kindness to me. in od day whenever a bucket shop was found loaded with too many bulls on certain stock it was common practice to some broker wash down the price of that particular far enough to wipe out all the customers that were long of it whenever was an unexplained sharp drop which was followed by instant recovery the newspapers 2 if my order is big my own sales would tend future to press the price when you know what not to do in order to not to lose money. you begin learn what to do in order to win . you begin to learn. if the stock doesn't act right don't touch it being unable to wrong you cannot tell which way it is going no diagnosis no prognosis no profit. i had to study what was going to happen to anticipate stock movements it was the change in my own attitude toward the game that was of supreme to me it taught me little by essential difference between betting on fluctuations and anticipating inevitable advances in declines between gambling and speculating I had to go further than an hour in my studies of the market which was something I never would have learned to do in the biggest bucket shop in the world I interested my self in trade reports and railroad earning and financial commercial statistics they call me the boy plunger . i like to study the moves, I never thought that anything was irksome if it help me to trade more intelligently. before I solve a problem I must state it my myself, when I think I have found a solution I must prove I'm right. i know how to prove it and that is with my own money. there is much to learn from partial victory as from a defeat don't be a sucker, this semi sucker he loves to buy on declines he waits he measures his bargains by the number of points sold off from the top, big bull markets the plain unadulterated sucker utterly ignorant of rules and precedence buys blindly because he hopes blindly he makes most of the money until the one of the healthy reactions takes it away from him at one fell swoop but the careful mic sucker does what I did when I through I was playing the game intelligently according to the intelligent of others big money is was not in the individual fluctuations but in the main movements that not reading the tap.but sizing up the entire market and its trend it all was my sitting got that my sitting tight its no trick at all to be right on the market you all ways earily bulls and bulls earily bears and bear markets I know many man who was buying and selling as price as very level which is how the greatest profit and their experience invariably match mine that is they made no real money out of it. men who can both be right and sit tight are uncommon I found it one o the hardest things to learn but it is only after a stock operator has firmly grasped this that he can make big money . its easy to millions will come to traders after he knows how to trade than hundreds did in the days of ignorance the reason is that a man may see straight and clearly and become impatient or doubtful when the market takes its time about doing as he figured it must do that's why who all are not all in Wallstreet not in the soccer class not even third grade never the less lose money.the market does not beat them they beat themselves because though they have brains they cannot sit tight. old turkey was dead right is doing and saying what he did and had not only the courage of his convictions but intelligent patience to sit tight. you must study of general conditions and not tips or general factors affecting individual stocks then get out of you all your stocks wait until yous see or if you prefer until you see the turn of the market the beginning of the reveal of the general conditions have to use your brains and your visions to do this. trade less unintelligently was that my initial operation seldom showed me a loss that naturally made me decide to start big it gave confidence my own judgment before I allowed it to be vitiated by the advice.of others or even by my own impatience at times without faith in his own judgment, no man can go very far in this game. that's all I earn to study general conditions to take a position and stick to it. i can wait without a twinge of impatience I can see a set mack without being shaken knowing that it is only temporary. i watch the market with to look quotation board and to read the signs is one process union process going up, price is high but the stock as acted as accumulated I watched a couple of days without trading in it the more I watched it the more convinced i became that it was being bought on balance by somebody who was no somebody who not only had big bank roll but knew what was why very clever accumulation I through. as soon as I was sure this I naturally began to buy it 160. I kept on buying it 500 share at clip the more I bought stronger it got and I was feeling very comfortable I couldn't stop that stock go up a great deal more not what I read on the tape . my tape reading simply told me someone manipulated by the insiders made the tape tell a story. I belive competed for my education as a trader .it all I need to learn was not to take tips but follow my inclination it was that I gained confidence in my self and I was shake off the old method of trading that seratoga expirance was my last haphazard hit . buying stock comfortable way know its not so much to buy as cheap as possible or go shorted at top prices buy. buying and sell the right time, when I bearish and I sell a stock each sale mut be lower level. the previous sale , when I buying reverse is true I must buying in rising scale I don't buy a long stock on scale down I buy on scale-up let example I buy 200 share at no the stock goes up ill after I by it at least temporarily right in my operation because its point hier it show me profit I'm right I go and buy 2000 shares if market is rising I buy a third lot of 2000 shares say the price goes to 114 I think enough to time being for the time I all was try to buy effectively in such a way as to help my side of the market when it comes to selling stocks its plain nobody can sell unless somebody wants those stocks if you operate large scale you will have to bear that in mind all the time a man studies conditions plans his operations carefully and proceeds to act well that man cant sell at will you cant expect the market to absorb 50,000 shares one stock easily as it does one hundred he will have to wait until he has a market there to take it there comes to time the requisite buying power there . that opportunity comes he sees it as rule he will have been waiting for it he has to sell when he can not when he wants to learn the time he has to watch and test it's no trick to tell when the market can take what you give it. starting movement its unwise to take on your full line unless you are convinced that conditions are exactly right to remember stocks are never too high for to begin buying or are too low to begin selling after the initial transaction don't make a second unless the first shows you a profit wait and watch that is where your tape reading cones in to enable you to decide as the proper time for beginning . at the exactly right time, it took me years to realize the importance of this it also cost some hundreds of thousands of dollars 500 stock don't buy all together if he is merely gambling the only advice I have to give him is don't . i realize big money must necessarily be in the big swing whatever might seem to give a big swing its initial impulse the fact is that its continuance is not the result of manipulation by pools or artifice by financiers but depends upon basic conditions and no matter who opposes it the swing inevitably run as fast and as long as the impelling forces determine. the man is not limited in his trading he could buy or sell an entire list in certain stocks a short line is dangerous after a man sells more than a certain percentage of the capital stock the amount depends upon how where and by whom the stock is but he could sell a million shares of the general list if he had the price without the danger or being squeezed. man must study general conditions to size them so as to anticipate probabilities. in the long run commodity prices are governed but by one law the economic law of demand and supply the business of the trader in commodity is simply to get facts about the demand and supply presence and perspective he does not indulge in guesses about a dozen things as he does in stocks the massage of the tape is same that will be perfectly plain to anyone who will take the trouble to think he will find if he asks himself questions and considers conditions that answer will supply them self directly the object is reading the tape is to ascertain first how next when to trade that is whether its wiser to buy than to sell it works exactly for stocks cotten weed or oats. you watch the market that course of prices as recorded by the tape with one object to determine the direction that is the price tendency price we know move up or down according to the resistance they encounter for purposes of easy explanation say like everything move along line of least resistance, therefore, they will go up is less resistance to advance than to a decline and vice versa. speculator profit from rise or fall from whtever he maybe speculating line of least reisitance at the moment of trading and what he should wait for is the moment that line defines its selfs becuse that is his singnal to get busy reading the tape see 130 has been stronger than buying and reaction in the price logically followed up to the point where the selling prevaild over the buying superficial students of the tape may conclude that the price is not going to stop short of 150 and they buy after reaction begins they hold on or sell out small loss or they go short talk bearish the public whipswed that one marvels at ther persistance not learnning there lession eventily something happens increase the power of either the upward or the downward force and the point of greatest resistance moves up or down buy for 130 will for the first time be stronger than the selling at 120 be stronger tha the buying price will break old barrier or movement limit and go on as rule is always a crowded traders who re short at 120. becuse it looks aweek or long at 130 becuse it looks so strong when the market goes against them they are forced after while either to change their minds and turn or close out more cleariy the line of least resistance thus interligent trader who has patiently waitted to detrmine this line will enlist the aid of fundamental trade conditions and also force of the trading of that part of the community that happennened to guess wrrong and must now rectifying mistakes such corrections tend to push prices along the line of least of resistance narrow market when prices not getting anywhere speak of but move with a narrow range there is no sense to trying to anticipate what the next big movement is going to be up or down thing s to do watch the market read the tape determine the limits of the get nowhere prices and make up your mind that you will not take and price breaks throught the limit either direction a speculator must concern himself with making money out of the market and not insisting that tape must agree with him never ask it reasons explanations speculative guns that is waitting for the linee of least resistance defines it self and begin buying only when the tape said up or selling only only said down . he should accumulate his line on the way up let him buy one fifth of his full line if that if that doesnot show him a profit he must not increase his holdings he has obviousely begun wrrong he is wrong tempororily and there is no profit in being wrong anytime. man can spend years at onething and not acquire a habitual attitude towards it quite unlike average beginner the diffarence distinguishedes the professional from the amature it is the man way a looks at things that makes or loses money for him in the speculative markets you have to get out you have a market that absorb your entire line failure to grasp the opertunitunity to get out maycost you millions you cannot hesitste if you do your lost nether neather runs like the price the bears by means of competitive buying for you may thereby reduce the absorbing capacity and i want to tell you that perceving your opportunity is not as easy it sounds a man must be on the look out so alertly when his chance sticks in its head at his door he must grap it. i get my pleasure out of matching my brains against the brains of othere traders men whom i never seen and never talked to and never advised to buy or sell and never expect to eet or know when i make money i make it backing my own opinions i dont sell them or capitalize them if i maid any way i would imagaine i had not earned it.your propostion does not intrest me im intrested in game only as i play it for my self and in y own way . speculator has a host of enemies maney of whom successfully bore from within i had in mind my many mistakes i have learned that a man may possess an original mind and life long habit of independent thinking and with all be vulnerable to attacks by the persuasive personality im fairly immune from the commoner speculative ailments such as greed and fear and hope but being ordinary man i find i can heir with great ease i ought to have been on my guard at this particular time bacuse not long before that i had an experience that proved how easily a man may be talked into doing something against his judgment and even against his wishes . i learn my self that i could not trust my self to remain equally unaffected by men and misfortunes . all times . man know himself thoroughly if he is going to make a good job out of trading in the speculative markets to know what i was capable of in the line of folly was a long educational step . a trader studying basic conditions remanbering market precedence and keeping in mind the psyshology of the public as well as the limitations of his brokers must also know himself and provide against his own weaknesses i have studied and reckoned on my own reactions to given impulses or to the inverable temptations of an active market quite in same mood and spirit as i have considered crop condtions anylyize reports of earnnings so day after day broke and enxiouse resume trading i sat in front of quation board in another brokers office where i couldnt buy or share one share of stock studying the market not not missing a single trasaction on the tape . watching the psychological moment to ring full speed ahead bell by reason of condition whole world. than one day entire market become quite weak and prices all stock begain to fall i had a profilt of least four point in each and evry one of the 12 stocks that i was short of i knew that i was right the tape told me it was now safe to be bearish so i promptly doubled up i had my postion i was short of stocks in a market that now was plainly bear market there wasnt any need for me to push things along the market was bound to go my way and knowing that i could afford to wait after i double up i dint make long trade for long time . when something happens on which you did not count when you maid your plans it behooves you to utilze the opertunitiey that a kindly fate offers you for one thing on a bad break like that you have big market one that you can turn arround in and that is the time to turn your paper profits in to real money , even bear market a man cannot 120,000 share stock without putting price on himself he must wait for the market that will allow him to buy that much at no damage to his profit as it stands him on paper . my expirance 30 years of trader is that such accident are usally along the line of least resistance which i base my postion in the market another thing bear in mind is never try to sell at the top it isnt wise sell sell after reaction if there is no rally as i said before man doesnot have to marry one side of the market death do them part. honesty is a best practice the big money was in being square and not in welshing , i never throught it good business to play any game in any place necessary keep an eye on the dealer becuse he was likely cheat if unwatched. but against the whining welsher the decent man is powerless fair play is a fair play i could tell you a dozen instance where i been the victim own belief in the sacredness of the pladged word or of the inviobility gentlemen agreement. life it self from the cradle to the grave is gamble. expirance has taught me that a man can aways find an opportunity to make his profit real and that opportunity usually coes at the end of the move . that inst tape reading or hunch. you can transmi knowlage that is your particular card index facts. but not expirance a man may know what to do and lose money if he doesnt do quicly enough onservation expirance and mathamtics these are thr sucessful trader must depend on. he must not observe accurately but reemanber at all times he has obserb he cannot bet un reasonable or unexpected how ever personal convection maybe about mans unreasonabaleness he must bet on probabitilites try to anticipate them years of practice of the game consitance study of always remanbering enable the trader to act the instant when te unexpected happens as well as when the expected come to pass after years of the game it become habit to keep posted he acts almost automatically he acquires the invalauble professional attitude and that enables him to beat the game at times this diffrents between the professional and the amature or accasional trader cannot be overmphased . i find instance menory and mathamtics help me very much. wall street makes money on mahamtics basis it makes money facts and figures when i said trader ha to keep posted to the minute and that he must take professional attitude toward all developments im merely expirance trader act so quckly that he has all kind of reson to give advance but never the good and sufficient reasons becuse they are based on facts collected by him years of working and thinking and seeng things from the angle of the proffesional professional attitide i keep track of all commedites allways ints habit of years figures and condition yield mathamtics expirance has tought me that the way a market behaves excellent guide for an operator to follow its like a taking a patient temperature and pulse or nothing the clour of the eye balls and the coating of the tought. buying ten thousand , fifteen tousand bushels instesd taking two or 3 trasaction price went down and quarter cent on my selling now i need not waste time the way market took my weat and the desproportion decline on my selling told me there is no buying power there such being the case what is only thing to do of course sell lot more i found expirance that abto be a steady dividend pay in this game. and observation gives you best tips for all. you need to observe the stocks . vision without money means heartaches with money it means achivements that means power and that means money that means achivement the majority of cases the object of manipulation is sell stock to the public at the best possible price its not question of alone selling its distributing . i sell stock on balance if the demand is what it ought to be it will absorb more than the amount of stock i was compelled accumulate in the earily stages of manipulation when this happens i sell the stock short that is tecnically in othere words i sell more stock i actually hold it is perfafectily safe for me to do so since im really selling against my costs ofcox demnd from the public slackens stock try to be advance than i wait i see stock become advance weekday entire market maybe develope rectionary tendancy or some sharp traders may precive there no buying orders are no buying to speak my stocks and he sells it. and his fellows follow what ever resons maybe my stocks go down , i begin to buy it i give it the support that a stock i have if its good order own sponsers and more im able to to support it without accumlating it that is without increasing it the amount i shall have to sell later on observe that i do this without decreasing my finceal resources ofcox i i sold short at higher coving prices when the demand rom the public or fro the traders or from borth enabled me to do it sometimes stocks get waterlogged as were it doesnt go up that is a time to sellthe price naturally will go down on your selling rather futher thn you wish but you genarally nurse it back as long as the stock that im maipulating goes up on my buying i know im hunky and i need be i buy it with confidence use my own money without fear priceisely as i would anyothere stocks that acts the same way its line of least resistance . when the price line of least resistance is established i follow it not im manipulating that particular stocks at particular moment becuse im a stock operator at all times when my buying doesnot put stock up i stop buying and then proceed to sell it down and that also is exacitly what i would do with same stock if i did not happen to be manipulating the principal marketing of the stock as you know i done on the way down its perfactily astonishing how much stock a man can get rid of a decline i repeate at no time during the manipulation do i forget to be a stock trader my problems as manipulator after all are same that conforont me as an operator all manipulation comes to end when the manipulator cannot make a stock do what he wants it to do when the stock maanipulating doesnt act as it should quit dont argue with the tape do not seek to lure the profit back quit while the quitting is good and cheap . you dont sell and bulk on the advance you cant big selling is done on the way down from the top . i canot put your stock to 125 or 130 i like to but it cant be done so you have to begin your selling to from this level my opinion all stocks are going down and petrolume products isnt going to be the one excepttion its better for go down now on the pool selling than for it to break next month on selling by someone else it will go down anyhow . value making information kept from public while the now tacit term prominent insiders go to the market and buy all the cheap stocks they can lay their hands on as this well informed but unostentatious buying keeps on the stocks raises finacial reporters knowing that the insiders ought to know reason to the rise ask questions the unanimously anonymous insiders unanimously declare that they have no news to give out they do not know that there is any warrant for the rise continues and there comes a happy day when those who know have all the stock they want and can carry street at once begin to hear all kind of bullish rumors the tickers ell the traders on good authority that the companey has definitly turn the corner trend is know down ward just as they brought without any flourish or trumpets when the compneys business term for better they now silentily sell inside selling the stock naturally decline then the public begins to get the familier explanations a leading insider asserts that everything is ok and decline is merly the result of selling by bears who are trying to affeted the genral market
Education
by YODA-TRADER
📖 5 Books On Trading That Everyone Should Know 📖📖 5 Books On Trading That Everyone Should Know 📖 📖 1. Reminiscences of a Stock Operator - Edwin Lefèvre. 📖 Reminiscences of a Stock Operator is a fabularized biography of the most famous speculator of all time Jesse Livermoore. Jesse Livermoore operated in the stock and commodity markets in the early 20th century in the 1920s to be exact. He was one of those speculators who made an astronomical fortune almost from scratch. He made and lost fortunes. His wins and losses as of today could be counted in the hundreds of millions of dollars. His speculative concepts and brilliant remarks on the markets, inspired and still inspire speculators around the world today. Despite the passage of 100 years since those events, the strategies and trading approach have not lost their value, I would even say they have gained. The book reads very well, it is written in accessible language, everyone will be able to understand it and take something for themselves. A must-have item on the shelf at every trader's home. 📖 2.The Disciplined Trader - Mark Douglas 📖 The Disciplined Trader. One of the first books that on such a scale spread interest in psychological elements in trading. Mark Douglas, after working with many traders in his career, noticed that mental elements are one of the main barriers to success in trading. He presents in his book the principles and mental attitudes that are necessary for success in this industry, it is worth mentioning that these attitudes are fundamentally different to what we have been taught to live in society. An ideal book for people who feel that the technical aspect has been mastered, but still feel that they have some internal blockages that block them from achieving systematic results in trading. 📖 3. Market Wizards - Jack D. Schwager 📖 Market Wizards. Book-talk. This is the first, and considered by many to be the most important, part of Jack Schwager's conversations with prominent traders. In it we can hear their stories and thoughts on trading of such people as: Jim Rogers, Paul Tudor Jones, Larry Hite, William O'Neil. In the book we can read a lot of conversations in which each trader brings something from himself and presents his specific view of the market. We will learn a lot about technical analysis, as well as fundamental analysis, risk management and many other aspects related to trading. Everyone can find something for themselves. It is not a book to be read from cover to cover. 📖 4. The Intelligent Investor - Benjamin Graham 📖 A book of investing legends. The most prominent investment advisor of the 20th century. Since its publication, the book has become, so to speak, a holy book of the stock market and the philosophy of "value investing" with which every investor must become familiar. Its philosophy and the principles it recommends to follow teach and inspire investors around the world to this day. It is worth mentioning that Warren Buffett was one of Graham's disciples and repeatedly mentions how great an influence he had on him. A must-have item for any aspiring long-term investor 📖 5. Technical Analysis of the Financial Markets - John J. Murphy 📖 Another holy book this time on technical analysis. This book is a comprehensive expedition presenting the vast majority of technical analysis concepts. John J. Murphy, thanks to his 30 years of experience working in financial institutions, takes the reader through all the topics that are key to understanding technical analysis. It is an excellent primer, which allows for an accessible and understandable introduction to the world of technical analysis. The book lays a solid foundation, thanks to which you will be able to expand your analytical skills. Everything we need to know about charts can be found in this book. It is no wonder that to this day it is a worldwide bestseller and the most popular book on the technical aspects of market analysis. 📖 Have you read any of the books mentioned? share your opinion in the comments. ✨If you liked the post leave a like and follow to stay up to date with upcoming materials.✨
Education
by InvestMate
26
✍️WEEKLY QUOTE: You don't need to know in order to make money✍️...Having an awareness or an understanding of some principle, insight, or concept doesn't necessarily equate to acceptance and belief. When something has been truly accepted, it isn't in conflict with any other component of our mental environment. When we believe in something, we operate out of that belief as a natural function of who we are, without struggle or extra effort. To whatever degree there is a conflict with any other component of our mental environment, to the same degree there is a lack of acceptance. It isn't difficult, therefore, to understand why so few people make it as traders. They simply don't do the mental work necessary to reconcile the many conflicts that exist between what they've already learned and believe, and how that learning contradicts and acts as a source of resistance to implementing the various principles of successful trading. The answer is quite simple: The typical trader doesn't predefine his risk, cut his losses, or systematically take profits because the typical trader doesn't believe it's necessary. The only reason why he would believe it isn't necessary is that he believes he already knows what's going to happen next, based on what he perceives is happening in any given "now moment." If he already knows, then there's really no reason to adhere to these principles. Believing, assuming, or thinking that "he knows" will be the cause of virtually every trading error he has the potential to make (with the exception of those errors that are the result of not believing that he deserves the money). If he believes that anything is possible, then there's nothing for his mind to avoid. Because anything includes everything, this belief will act as an expansive force on his perception of the market that will allow him to perceive information that might otherwise have been invisible to him. It's the ability to believe in the unpredictability of the game at the micro level and simultaneously believe in the predictability of the game at the macro level that makes the casino and the professional gambler effective and successful at what they do Their belief in the uniqueness of each hand prevents them from engaging in the pointless endeavor of trying to predict the outcome of each individual hand. They have learned and completely accepted the fact that they don't know what's going to happen next. More important, they don't need to know in order to make money consistently. Because they don't have to know what's going to happen next, they don't place any special significance, emotional or otherwise, on each individual hand, spin of the wheel, or roll of the dice. In other words, they're not encumbered by unrealistic expectations about what is going to happen, nor are their egos involved in a way that makes them have to be right. As a result, it's easier to stay focused on keeping the odds in their favor and executing flawlessly, which in turn makes them less susceptible to making costly mistakes. From Trading in the Zone by M. Douglas
BITSTAMP:BTCUSDEducation
by Yelli_trades
19
Mid cap coins for the next bull run. Research!Trading mid-caps and low caps (aka sh!t coins) is only a good strategy in a bull run for BTC and ETH. But here are some notes on things to look into for the next bull run to keep yourself busy. Understand how they work and how they plan to provide value to make money. DO NOT BUY RIGHT NOW! RESEARCH! Curve finance ecosystem Ape coin (bitcoin of gaming crypto) ($20 target next bull run) Gala games (possible 10X $0.6 target) Vulcan forged (billion $ market cap w/ $45 target) Adshares (if they pull off what they're talking about = big IF) Seedify.fund (face of gaming IDOs) SuperFarm (Ellio trades) Verasity (might replace streaming has a cult following) Illuvium ($500 target in bull run fully diluted valuation is a problem) Microcap games (interesting) Wilder world ZooKeeper And then the bigger names: Kusama Solana Vs Polygon Vs Polkadot narrative Solana: Radium Polkadot:polkadex & polka starter The biggest return will come from coins that still have a strong narrative such as the metaverse but have experienced the biggest losses without dying. If you can see how these projects work and what makes them tick you'll be better positioned for the evolution of the metaverse narrative in the coming years. Right now is not the time to buy it's the time to sit on your hands with the majority in cash. Dry powder will become valuable as the market tanks further trying to convince the FED to print more money. Current moves feel like a bear market rally so yes if you need to scratch an itch it's an "in and out 20 min adventure" don't say I didn't warn you. Just my opinion but stay off the tracks for a little longer and jump on the train as it passes instead of getting run over Now is the time to learn. An hour a day just watching Krowns crypto cave or real vision finance will do wonders in a year if one is consistent. Avoid the blizzard and stay warm digging for the sunshine. Even if YouTube is all you got for now it'll do. Maybe pick up an Undoing Project by Michael Lewis book if you like micro or A People's History of the world by Chris Harman if you like macro. All the best, see you on the moon.
BITSTAMP:CRVUSD
by GreatScottTheMoon
Stay sharp in these volatile times!These are crazy times. In 2020 I started to seriously dedicate myself to becoming a profitable trader. the past few months have been very volatile. and for me as a beginner it is also very difficult to earn even a little constant results. and maybe you recognize yourself in my situation, But I have learned a lot from all this chaos ;) , and therefore I have written down a few of my own experiences that hopefully will help you to get a little more consistent results. as I say, I am no expert and this is therefore certainly not financial advice. but especially in these times I think it is nice to help each other a little and learn from each other's mistakes. 1. It's okay to not have open positions from time to time. Occasionally it can be frustrating, if you take a loss, but that's okay, hopefully you learned something from it. I now consider the current (short-term) trend to be neutral/Bearish. and I am now reading Technical Analysis of the financial markets and in that book there was a sentence that I did find reassuring: "It is during these periods of sideways market movement that technical traders experience their greatest frustration, and systems traders their greatest equity losses". Take these times to prepare yourself for a more predictable market phase. 2. Trying to predict a bottom can be dangerous. Try to wait for confirmation, or a known pattern. Take LUNA/USD as an example, luckily I didn’t had any money in this coin. But you don't want to get stuck in a long position, don't forget to set a stop loss either, and the last point actually ties into point 2 3. A well-known rule is that you should not add to a losing position. I thought I had remembered this but I did catch myself doing it at the beginning, especially in times like this it can be disastrous, usually it doesn't end well. I wish everyone the best coming times, hopefully most will achieve their goals. Keep thinking rationally and try to keep your emotions under control. I wish you all the best. Let me hear from you in the comments, I am very curious about your experience in this market. Perhaps you have a suggestion for me, I would be very happy with that. AMEX:SPY
AMEX:SPY
by StijndeVries
2
Best Books on Stock Market & Finance📚 Books are always the best way to acquire knowledge even in the presence of latest technologies/e-books/videos. There are 1000s of books in the market. So I have picked the best ones according to me! 📚 I have sub divided the books to acquire knowledge in any specific field 💲 Finance and Motivation - For knowing more about money and it's fundamentals. Suitable for - Anyone with the interest to know about money 💲 Technical Analysis - Knowledge about candle sticks and other trading patterns Suitable for - Anyone with the interest to know the technical analysis done by traders 💲 Fundamental Analysis - Knowledge about the base of a company with it's fundamentals/results Suitable for - Anyone with the interest to know and analyze fundamentals of companies for investments. 🤔 Pre-requisites - None of the above book require any prior knowledge. Thank you for viewing book recommendations. Let me know through the comment section if you have any doubts or feedbacks. All the best! Happy trading/investing :) 😄
NSE:SBILIFEEducation
by Omsai1238
74
📖 Trading Books 📖As a trading coach & mentor, I often get asked about where to go and find resources. Anything from books to specific strategies. So I thought it would be interesting to not only share with the community some books I have liked over the years. But to ask for your favorite books, any suggestions - any thoughts on the books listed? Even if they're slightly outside of the conventional trading manual concepts - there are some great Wall Street stories, banking or business esq books. Be great to get some conversations going! Here's the second wave. The next wave - moving away from trading manuals per se; Another list; And lastly some books worth mentioning but were just off the top 20 spot. So what are your best books? why? what do you make of some of the books mentioned? Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Education
by Mayfair_Ventures
52
INTERESTING BOOKS 2Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped. Thank you very much. * LIKE this idea and FOLLOW me, because: - Here, you will see clean charts; - Trades with clear risk management; - The best of Dow Theory, Price Action and Candlestick psychology; - Chart patterns with statistics. * * My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
BITSTAMP:BTCUSDEducation
by Nathan_The_Finance_Hydra
7
Bearish on SCHLFundamentally, I think SCHL should be taking a beating like the hotel and airline stocks.(dropping like 50-75%) What is SCHL? Scholastic Corporation is an American multinational publishing, education and media company known for publishing, selling, and distributing books and educational materials for schools, teachers, parents, and children. Products are distributed to schools and districts, to consumers through the schools via reading clubs and fairs, and through retail stores and online sales. Why? Because NYC schools just announce a full year shut down over the weekend. this is huge. it will set a precedent for other cities to follow imo. In addition to that, SCHL has been super backwards. although they have made a website, a lot of the way they sell and make money is still old fashion. they focus on school book-fairs to generate sales, sales rep marketing the catalog and materials to teachers (FACE to Face meeting) to generate sales. then in-turn, the teachers will market it to student (FACE to Face meeting) in the class room. The point is, a lot of that will be f2f, in person, which would require the school to be open. in addition to that, you know damn well kids rather play games than read books when they are learning from home. I would start a short position around $30.55 Cover around 22.50
NASDAQ:SCHLShort
by WallSt007
MUST READ!! Best Trading/Investing books to Read!!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Brett Steenbarger “Routine is necessary for efficiency; breaking routine is necessary for adaptation.” Trading/Investing books that I highly recommend. Some of them are listed below; 1. Brett Steenbarger's books 2 . Van Tharp's books 3. Pit bull 4. Millionaire Traders 5. Think and Grow rich 6. Trade mindfully 7. Emotional Intelligence 8. The power of habit 9. The art and science of TA 10. Alexander Elder's books 11. Mark Douglas Books 12. The way to trade 13. Mean market and lizard brains 14. When markets collide 15. When genius fail 16. As you think 17. The power of your subconscious mind 18. Dark pools 19. Way of the turtle This is a just a handful of books to get your started :) Happy Trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow Thank you for your support :)
TVC:GOLDEducation
by SMPTrader
12
The best Van Tharp's Quote!! Read all his books!SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Van Tharp “When you understand what’s involved in winning, as do professional gamblers, you’ll tend to bet more during a winning streak and less during a losing streak. However, the average person does exactly the opposite: he or she bets more after a series of losses and less after a series of wins.” Over the 18 years of trading the Futures/ Stocks and Currencies market, Van Tharp's books have help me immensely. I suggest you read his books. Some of them are listed below; Trade your way to financial freedom Super Trader Trading Beyond the Matrix Safe Strategies for financial markets Financial freedom through electronic day trading I have a large collection of trading books. If anyone needs suggestions on great trading books i would be happy to send you a list :)
Education
by SMPTrader
9
Herbalife, HLF, Elliott Wave Fractal Comparison. Possible wave 4"Beautiful Pictures from the Gallery of Phinance", Robert R Prechter Jr. Copyright 2003 Robert R Prechter Jr. Pages 18 & 19 The drawings I've added to this chart are directly pulled from page 19 of the book mentioned. The original charts referenced are the DJIA from 8/24/1921 to 09/03/1929, and the second chart in the comparison is the DJIA from 12/06/1974 to 01/14/2000. The similarities are many. The reason why I took interest in this chart is because I noticed a huge boom in social media marketing by Herbalife distributors, pushing their products and heavily recruiting new customers and new distributors. The chart immediately reminded me of the Elliott Wave Fractal so I decided to compare. It looks good and I am assuming a long to somewhere near the $80 - $85 range. I don't want to get too specific but I expect the final waves (4 & 5) to end sometime near the end of 2019, roughly 12 months from now.
NYSE:HLFLong
by RickSmash
1
EURUSD a little outlook for what to trade next weekIf you´ve been following me the euro have been very good to us this past weeks with 3 winning trades and 1 loss. For monday i´ve got a Bullish Cypher pattern if price heads south to but it up at strong Support. If price heads north we are gonna sell it at the blue Bat pattern at a lesser, but still good reistance area, but compared to the Cypher this pattern got a lot higher R:R so its well worth it. We always try to be one step ahead of the market, and put in orders when we don´t have any emotions aboute it. We use the IF THEN method to see, if this happens, we do that, and if it does this in stead, we do this in stead. We are planning for several senarios while we don´t have our emotions haning on the outside of our cloth and then we just stick with our analysis cause we know its tested and profitable so we just have to control out emotions, and focus on money management! A subject i see more and more here on TradingView not beeing giving much of a thought, but its almost more important than your trading method if you want to see the returns you are dreaming about. How come some people that have the same size account, makes the same amount of pips make a totaly different return on account. It´s MONEY MANAGEMENT the art of when to increase or decreace your position size! So please spend some of your weekend reading on Fixed Ratio money management vs. Smoothed Ratio money management, you will be amazed! I´ve got a starting point for you read the book by "Ryan Jones - The Trading Game Playing By The Numbers To Make Millions" It will change your trading career! Kind Regards Thomas Jeff
by UnknownUnicorn101425
12