How deep a pullback goes tells you how strong the trend is...
A shallow dip to the 38.2% level means buyers could not wait.
A dip past 78.6% means they were in no hurry at all.
A shallow dip to the 38.2% level means buyers could not wait.
A dip past 78.6% means they were in no hurry at all.
0
0
0
300
A winning streak can be more dangerous than a losing streak...
After a loss, traders get careful.
After five wins, they get bigger, faster and less picky. The account usually gives it back in one trade.
After a loss, traders get careful.
After five wins, they get bigger, faster and less picky. The account usually gives it back in one trade.
2
0
1
391
Moving averages work best in trends and worst in ranges...
In a trend, price respects them.
In a range, price cuts through them both ways and every cross is a fake signal. First decide which market you are in.
In a trend, price respects them.
In a range, price cuts through them both ways and every cross is a fake signal. First decide which market you are in.
0
0
11
598
Mind Math Money retweeted
The 200-day moving average works partly because everyone watches it...
Funds, news headlines and new traders all point at the same line.
A level becomes important when enough money agrees it is important.
Funds, news headlines and new traders all point at the same line.
A level becomes important when enough money agrees it is important.
2
2
11
593
A time stop is underrated...
If a trade has not done what you expected within a set number of days, get out, even without a loss.
Money stuck in a trade going nowhere is money missing the next one.
If a trade has not done what you expected within a set number of days, get out, even without a loss.
Money stuck in a trade going nowhere is money missing the next one.
0
0
3
509
GN ✨
Corrections feel personal. They are just the market taking back what it lent to optimism.
Corrections feel personal. They are just the market taking back what it lent to optimism.
1
1
3
504
Fibonacci levels are not magic numbers...
They work best where they line up with an old high, an old low, or a round number.
One reason to watch a level is a guess. Three reasons is a plan.
They work best where they line up with an old high, an old low, or a round number.
One reason to watch a level is a guess. Three reasons is a plan.
0
1
5
540
The trader in Reminiscences of a Stock Operator, based on Jesse Livermore, said his thinking never made him the big money...
His sitting did.
Over 100 years later, the hardest part of a winning trade is still doing nothing while it works.
His sitting did.
Over 100 years later, the hardest part of a winning trade is still doing nothing while it works.
0
0
2
469
A strategy has to fit your life, not your heroes...
A day trader's method will break a person with a full-time job and two kids.
The best strategy is the one you can actually follow on a normal Tuesday.
A day trader's method will break a person with a full-time job and two kids.
The best strategy is the one you can actually follow on a normal Tuesday.
0
0
1
513
Buy the breakout, or wait for the retest?
The breakout gets you into every big move, plus every fake one.
The retest gets you a better price, but some moves never come back. Which one do you trade?
The breakout gets you into every big move, plus every fake one.
The retest gets you a better price, but some moves never come back. Which one do you trade?
0
1
6
537
GN 🌙
The trend is your friend until it stops making higher lows. Friendship has conditions.
The trend is your friend until it stops making higher lows. Friendship has conditions.
1
1
7
608
The 200-day moving average works partly because everyone watches it...
Funds, news headlines and new traders all point at the same line.
A level becomes important when enough money agrees it is important.
Funds, news headlines and new traders all point at the same line.
A level becomes important when enough money agrees it is important.
2
2
11
593
Satoshi Nakamoto's estimated one million $BTC have never moved...
The creator of the network has not sold a single coin that anyone can see.
Whatever you believe about Bitcoin, that is a strange kind of conviction to compete with.
The creator of the network has not sold a single coin that anyone can see.
Whatever you believe about Bitcoin, that is a strange kind of conviction to compete with.
1
0
2
511
Mind Math Money retweeted
In trading, being early looks exactly like being wrong...
Same red number. Same stop hit.
Wait for the chart to confirm the idea, not just your brain.
Same red number. Same stop hit.
Wait for the chart to confirm the idea, not just your brain.
0
1
10
625
Mind Math Money retweeted
Small accounts tempt traders into big risks...
"It is only $500, I can afford to swing for it."
The habits you build on $500 are the habits you bring to $50,000.
"It is only $500, I can afford to swing for it."
The habits you build on $500 are the habits you bring to $50,000.
0
2
9
606