11 Sharp Learnings from the book “Psychology of Money” for Traders, which you didn’t notice before.
(Also a Giveaway) 🧵 <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905746778361858/photo/1’</p></div>
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Even the best backtested strategies with exceptional ‘Edge’ is a fail without proper ‘Risk management’ <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905757331185669/photo/1’</p></div>
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Fear & Greed are the two basic human sentiments which act as big forces in Trading. Whole Price action is based on these two only. Never ignore them. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905768152567808/photo/1’</p></div>
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Always cut your losses short & let your profits run. Most basic but most important lesson for a trader. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905778722111488/photo/1’</p></div>
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Never overestimate your ability to define the risk involved in your trades. Despite of best of analysis a trade may go against you. Always go with SL. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905788171976704/photo/1’</p></div>
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Nothing comes easy in this world, if something is easy, everybody will do that & that’ll lose its value. Trading is no exception to that & that makes it worth pursuing. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905797017780224/photo/1’</p></div>
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When we are in loss & want profits badly, we tend to increase the quantity in next trade, purely based on hope. This is a recipe of disaster. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905806442266624/photo/1’</p></div>
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Not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905815506165760/photo/1’</p></div>
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Always take a trade keeping in mind the possibility that SL may get hit despite of best of predictions & take only those quantities where you are ok with hitting the SL. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905826142982151/photo/1’</p></div>
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The ultimate goal of this hustle is you become financially free & spend all your time with your loved ones. Never forget them. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905840881799169/photo/1’</p></div>
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Never compare yourself with anyone else. Be it a car or the MTM. Everyone has their own journey. Focus on yours. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905852579708930/photo/1’</p></div>
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There’s always someone more successful than you. Always be humble. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/CnceptualTrader/status/1560905863023525895/photo/1’</p></div>
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