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Business ideas #5 : Trading 
Ok, trading is not really a business idea but we are here to learn some way to make money ?
Right ?
I already shared my story about how i lost big and win bigger in trading.
It's time for us to go deeper in this subject.
THREAD
Ok, trading is not really a business idea but we are here to learn some way to make money ?
Right ?
I already shared my story about how i lost big and win bigger in trading.
It's time for us to go deeper in this subject.
THREAD
Introduction
Trading is quite a stunning niche
When you think about it, you picture guys in front of 10 screens full of weirds lines doing hard stuff, swimming on a pool full of money.
It's cliche but its far from true.
Everyone can trade if he want to learn...
Ready ?!
Trading is quite a stunning niche
When you think about it, you picture guys in front of 10 screens full of weirds lines doing hard stuff, swimming on a pool full of money.
It's cliche but its far from true.
Everyone can trade if he want to learn...
Ready ?!
1 - Trading is HARD
Pareto law is even more ruthless in trading than real life
There are around 90 % loser and 10 % winner
Why?
Because trading require some basic but hard skills to master:
- discipline
- humility
- ability to learn
- cold blood
- strategy
- patience.
Pareto law is even more ruthless in trading than real life
There are around 90 % loser and 10 % winner
Why?
Because trading require some basic but hard skills to master:
- discipline
- humility
- ability to learn
- cold blood
- strategy
- patience.
2 - You will lose money
Many traders broked their account.
In some book, they joke about it, they call it "the tuition" to be able to make it.
It's like fire, you know you don't touch it when you get burn.
You stop making dumb trade when you lose money.
Trials and errors
Many traders broked their account.
In some book, they joke about it, they call it "the tuition" to be able to make it.
It's like fire, you know you don't touch it when you get burn.
You stop making dumb trade when you lose money.
Trials and errors
3 - It's you vs you
You are the guy who push the buy button.
You are the guy who push the sell button.
If you win, it's on you.
If you lose, it's on you.
Greed, fear, confidence, excitement ...
You will have to fight those emotions on a daily basis
You are the guy who push the buy button.
You are the guy who push the sell button.
If you win, it's on you.
If you lose, it's on you.
Greed, fear, confidence, excitement ...
You will have to fight those emotions on a daily basis
4 - What to trade ?!
It's up to you.
- Stocks : regulated, less profit but less risks
- Cryptocurrency : high profit is doable but it's still the far west, you can lose BIG
- Forex : i never touch it , i can't develop on this one
Their are cons and pros for every market.
It's up to you.
- Stocks : regulated, less profit but less risks
- Cryptocurrency : high profit is doable but it's still the far west, you can lose BIG
- Forex : i never touch it , i can't develop on this one
Their are cons and pros for every market.
5 - You must be prepared - Books
It's a foolish thing to start trading without learning the basics.
Here's a good starter list :
- Trading for a living
- One good trade
- Trading in the zone
- Markets wizards
- The disciplined trader
It's mandatory, don't skip this part.
It's a foolish thing to start trading without learning the basics.
Here's a good starter list :
- Trading for a living
- One good trade
- Trading in the zone
- Markets wizards
- The disciplined trader
It's mandatory, don't skip this part.
6 - You must be prepared - Podcast
Fortunately, there are a goldmine available on Youtube : @chatwithtraders
This is just the best , a podcast about pro sharing their :
- trading strategies
- win
- loss
- tips
- value
It's just gold.
Fortunately, there are a goldmine available on Youtube : @chatwithtraders
This is just the best , a podcast about pro sharing their :
- trading strategies
- win
- loss
- tips
- value
It's just gold.
7 - Why you should read books and listen those podcasts ?
Because trading is not about buying and selling.
There are so much area you must master :
- money management
- risk management
- portfolio
- type of trade
- finding your edge
- Stop loss
- indicators
- emotion
...
Because trading is not about buying and selling.
There are so much area you must master :
- money management
- risk management
- portfolio
- type of trade
- finding your edge
- Stop loss
- indicators
- emotion
...
8 - Ok it's done, can i trade now ?
If you read this book.
You know the theory.
It's time to practice.
What kind of trader will you be ?!
Which trading signals ?!
What's your system ?!
If you read this book.
You know the theory.
It's time to practice.
What kind of trader will you be ?!
Which trading signals ?!
What's your system ?!
9 - Type of traders
To summarize, their are 4 types of traders :
- scalper : they enter and leave a trade withing second/minutes
- daytrader : they enter and leave withing a daily timeframe
- swingtrader : weekly/monthly timeframe
- investor : buy and hold, it can be years
To summarize, their are 4 types of traders :
- scalper : they enter and leave a trade withing second/minutes
- daytrader : they enter and leave withing a daily timeframe
- swingtrader : weekly/monthly timeframe
- investor : buy and hold, it can be years
9 bis
Every 4 archetypes of traders are very differents ones and require totally different emotions and syste.
I love to scalp for the thrill, but i'm very bad at it.
I'm an average day trader.
I've got very good results with swing trading.
Define which is for you
Every 4 archetypes of traders are very differents ones and require totally different emotions and syste.
I love to scalp for the thrill, but i'm very bad at it.
I'm an average day trader.
I've got very good results with swing trading.
Define which is for you
10 - Which trading signals ?
Trading signals is the discipline within the discipline.
It's a vast one and their are book dedicated to only ONE signals.
It's up to you to do your work and study the basics.
My indicators are quite simple, bollinger band, rsi and chart pattern.
Trading signals is the discipline within the discipline.
It's a vast one and their are book dedicated to only ONE signals.
It's up to you to do your work and study the basics.
My indicators are quite simple, bollinger band, rsi and chart pattern.
11 - System
Good trading is boring.
A trade meet your signals.
You go in.
Reach the target : you go out.
Lose a certain amount : stoploss
Rince - repeat.
All of that without emotions nor hesitation.
Your system are backed by math and stats.
You win in the long run
Good trading is boring.
A trade meet your signals.
You go in.
Reach the target : you go out.
Lose a certain amount : stoploss
Rince - repeat.
All of that without emotions nor hesitation.
Your system are backed by math and stats.
You win in the long run
12 - The traps
Tilt :
It's the trap who killed many career.
You lose, you want to make it back and you let your emotions take control.
Game over.
Overconfidence :
You won few trade or a big one.
You think you are smarter than the market.
You are done at this very moment.
Tilt :
It's the trap who killed many career.
You lose, you want to make it back and you let your emotions take control.
Game over.
Overconfidence :
You won few trade or a big one.
You think you are smarter than the market.
You are done at this very moment.
13 - Conclusion
To me, trading is one of the most beautiful art this earth had.
It's a mix between human psychology, math, stats, discipline...
But you must not forget it's real life, it can be money lost and odds are clearly stacked against you.
To me, trading is one of the most beautiful art this earth had.
It's a mix between human psychology, math, stats, discipline...
But you must not forget it's real life, it can be money lost and odds are clearly stacked against you.
If you find this thread valuable, follow and retweet to join the family.
Check my pinned tweet for other content like this one.
I wish you luck in your trading career but it's pointless because only skills can help you in this one
If you have a question, shout me a DM.
Check my pinned tweet for other content like this one.
I wish you luck in your trading career but it's pointless because only skills can help you in this one
If you have a question, shout me a DM.
Bonus part 
In the bonus part, i will share with you with my loss and my wins.
I will also update with valuable insight or story related to trading.
Bonus #1 : How i made and lost a tons in cryptocurrency https://twitter.com/amillionjourney/status/1333108502164889601?s=20
In the bonus part, i will share with you with my loss and my wins.
I will also update with valuable insight or story related to trading.
Bonus #1 : How i made and lost a tons in cryptocurrency https://twitter.com/amillionjourney/status/1333108502164889601?s=20
My favourite chat with traders episode :
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- (the best of the best about swing trade)
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- (the best of the best about swing trade)
