The little intro section hits home hard. I think this point in the journey is breaking point for most. After big losses, the mental hurdles you have to jump through are immense. You start to question if any consistency you had before that was just luck, if you ever knew what you were doing at all in the first place, and feel like you're going back to square 1. I'm not sure you ever really get over it if it's a truly significant amount to you, but this mindset is fantastic. Printing this out and putting it by my trading setup:
"Lean into failure, as it is the key to your success. Accept it as part of the journey and create a culture of non-acceptance towards letting failure lead you to give up."
Tried and failed so many times. So many of the point made here are read, but in many cases so misunderstood. The is a element of this is the journey you have to walk to become a consistent trader. In my case I didn't have mentor to talk to and share my experiences with, in many way trading is a social endeavour but also a isolated one and finding the balance is, well for me was hard to come by. Excellent work looking forward to the next chapter.
Can you pls do a post on the effects of Artificial Intelligence / Machine Learning on trading, even discretionary trading. I don't know if you know but USIC 2nd place last year, Gemy Zhou (440% in a bear market) trades with AI/ML only💀. Suddenly, it seems even timeless strategies/setups will see a lot of competition in the future. Scary what AI/ML can do already in its infancy (450% returns in a bear market) and tbh discretionary trading is something an AI can likely learn to do too given what we're are seeing chatgpt do. AI/ML is much more than just an automated system with a set of hard rules. AI learns everyday. As Jordan Peterson says here - https://youtu.be/V-hB-4fnqtM - the future just 2 years out is scary.
Great insights! I’m sort of a beginner although been at it since 2020 - born out of the pandemic.
A few questions:
How do u go about getting a mentor? I would love to have u as my mentor! How do u even start to build a pod? Where do u look? I’m a lone world trader following people of Twitter (how I found you)
Can u elaborate on the lies we tell ourselves?
Really trying hard to break my impulsive trading habits and really focus on planned trades. Any tips on how to build that muscle?
Another good reading, been following your steps since you were a moderator at Madaz´s team. Could you please write a post explaining how to use historical data (i.e. historical premarket gappers) to have the best execution and rules?
Fantastic topic. Really like this one.
The little intro section hits home hard. I think this point in the journey is breaking point for most. After big losses, the mental hurdles you have to jump through are immense. You start to question if any consistency you had before that was just luck, if you ever knew what you were doing at all in the first place, and feel like you're going back to square 1. I'm not sure you ever really get over it if it's a truly significant amount to you, but this mindset is fantastic. Printing this out and putting it by my trading setup:
"Lean into failure, as it is the key to your success. Accept it as part of the journey and create a culture of non-acceptance towards letting failure lead you to give up."
Thanks for shinning a light on the path to consistent profitability. Leaning into "mimicking a pro".
Tried and failed so many times. So many of the point made here are read, but in many cases so misunderstood. The is a element of this is the journey you have to walk to become a consistent trader. In my case I didn't have mentor to talk to and share my experiences with, in many way trading is a social endeavour but also a isolated one and finding the balance is, well for me was hard to come by. Excellent work looking forward to the next chapter.
Another great post! Thank you Lukas!
Request:
Can you pls do a post on the effects of Artificial Intelligence / Machine Learning on trading, even discretionary trading. I don't know if you know but USIC 2nd place last year, Gemy Zhou (440% in a bear market) trades with AI/ML only💀. Suddenly, it seems even timeless strategies/setups will see a lot of competition in the future. Scary what AI/ML can do already in its infancy (450% returns in a bear market) and tbh discretionary trading is something an AI can likely learn to do too given what we're are seeing chatgpt do. AI/ML is much more than just an automated system with a set of hard rules. AI learns everyday. As Jordan Peterson says here - https://youtu.be/V-hB-4fnqtM - the future just 2 years out is scary.
https://mobile.twitter.com/gemyzhou/with_replies
Thanks again!
Thx u man appreciate your work
Great insights! I’m sort of a beginner although been at it since 2020 - born out of the pandemic.
A few questions:
How do u go about getting a mentor? I would love to have u as my mentor! How do u even start to build a pod? Where do u look? I’m a lone world trader following people of Twitter (how I found you)
Can u elaborate on the lies we tell ourselves?
Really trying hard to break my impulsive trading habits and really focus on planned trades. Any tips on how to build that muscle?
Could evoke so many memories of every statement laid out. worth reading again and again to get this set in mind and stick to it forever.
Amazing writeup. So much value Warren Buffet would be all in.
Another good reading, been following your steps since you were a moderator at Madaz´s team. Could you please write a post explaining how to use historical data (i.e. historical premarket gappers) to have the best execution and rules?
Greetings from Madrid
Jose
Thanks really helping me
I blowed up before big time. What I do now? Three years trader now.