A big part of this game is preserving capital when the market doesn't favor your style of trading--be more selective, manage trades tighter, and know that better conditions certainly will come.
Adam Grimes
7,008 posts
Adam Grimes
@AdamHGrimes
I teach people to make money in financial markets.
**I will never contact anyone via DM and ask for $$ or offer to manage $$. Anyone doing so is a scammer.
- I have to say... in my decades doing this I have seen some shit. But the shit we are seeing tonight is shit I have never seen before. This is crazy, off the map stuff. Just... wow.
- The FREE trading course is now complete: 9 modules, 55 units, over 22 hours of video and hundreds of pages of exercises. Better education than others charge thousands of dollars for: practical applications and deep theory. Get started today! ow.ly/LYK230k4yF4
- My little book, Quantitative Analysis of Market Data, is completely free for kindle this week ow.ly/XVYS30f40B7
- So here's something that might be challenging and thought-provoking. Look at the five candlestick reversal patterns in this graphic, focusing on the bounce from the lows... standard price action stuff, right? Ask yourself: how are each of these different? Do the patterns
- it's a good exercise to watch a market in a range and to remind yourself that this is just random motion... that you have no edge, no predictive ability in this environment, and that the future is completely unknown. Not many trading books tell you this... ;)
- Monthly S&P 500 Cash here. I've had many interesting discussions with people over the last few weeks about shorting into "overbought" moves. I think I understand the reasons why people are so focused on this, but I think it's deeply flawed psychology. When I used to trade like
- The "secret" to market timing is that is not about predicting timing at all, but about recognizing when certain, constructive conditions exist for the kind of trade you want to make... so that you can then follow the momentum if it develops.
- We are going to try something different over the next few weeks. At the advice of several people and a few friends, I'm going to be much more active on Twitter and will also share some stuff that will be off-topic from markets. We will see how it goes. ;)
- FOMO is a killer. It compromises your decision process in many interesting ways. If you're looking at a move like last week's and feeling that you missed it, you're likely to: - put on a position too late, chasing prices - put on too large of a position to "make up" for missing
- Discomfort is a part of learning and growth. To get better at something, we have to push through discomfort. Avoidance of discomfort is what keeps so many people so comfortably mediocre.
- This is a trade I will take every time: A simple bull flag following sharp upside momentum.
- To everyone calling a bottom using the same tools you used in recent years: your tools worked in a bull market. Anything worked to call a bottom over the past 10 years. Anything. The game has changed. Whether you adapt or not... that separates the winners from everyone else.
- The number of people I get who want to post on my blog or for me to promote their stuff is astonishing... people trying to "hack expertise". Most of them are 20-somethings who can't have actual trading experience, but they would like to sell you trading "advice". Gross.