mikefx 🐉$MON $BUBBLE ❤WELL3 .NYAN🔫😼 Tabi 🟧 @miszer_crypto

Prawdziwe szczęście jest proste. To mieć kogoś, z kim możesz się śmiać, rozmawiać, przytulić, pomilczeć, wspominać… albo po prostu być obok. I najważniejsze: Nie ucz swoich dzieci, jak być bogatym. Ucz je, jak być szczęśliwym. Bo kiedy dorosną, powinny znać wartość rzeczy – a nie tylko ich cenę. — Steve Jobs 🕊

Trade Like A Casino, Not A Gambler: Anyone who has driven down the strip in Las Vegas can tell who is rolling in the money – the Casinos! Why do gamblers keep going back, despite losing the majority of the time?  A combination of misplaced hope, fantasies about the Big Win, promising themselves they will be able to walk away at will, and probably the inability to calculate probabilities. These symptoms are often shared by new traders who have lost money in the stock market, when visions of effortlessly trading their way to prosperity clouded their judgement. In gambling there are only two sides; you are an either gambler, or you are the house. The gamblers have the long term odds stacked against them. The casino has stacked the odds against the gambler, and the more they risk, the greater the chance that they will leave empty-handed. The winning principles of trading can be understood by using the casino paradigm. Profitable traders operate like casinos, with the odds in their favor over the long term. They have learned to trade with historically, back-tested trading systems that put the odds on their side. Much like casino operators, they risk small amounts of equity per trade (around 1% – 2% of their accounts), so no one trade can hurt them. Most unseasoned traders behave like gamblers. They bet on stocks so haphazardly that they have a 50-50 shot like a roulette wheel – red or black. Many times, these traders hurt themselves by buying into the market in a downtrend and shorting into a rally, believing that they can pick the bottom or top. Some new traders would love to have a 50/50 win ratio, because most don’t get that lucky. New traders often have no concept of risk management, and like gamblers, they eventually give back all their winnings to the house. Richard Weissman’s book Trade Like a Casino taught me trading is about becoming the casino by using math and probabilities instead of emotions. By being psychologically disciplined and refusing to become invested in outcomes, traders will overcome emotional barriers to trading success. Casinos set table limits so a gambler cannot hurt their bottom line on any one bet. By understanding the importance of risk management and a positive expectancy model, traders will control their own odds. Traders must have the discipline to stick with positive expectancy models. Casinos don’t panic and change their rules when a gambler goes on a winning streak, because they know luck eventually runs out. Traders should never go off their trading plan to try and win back money that they lost. Luck is what gamblers hope for, while good traders are trading for a positive expectancy. Successful traders and casino operators consistently play the probabilities and manage risk in order to win. Traders should trade the market – not the money involved in their account. Each trade must be based on a proven trading system of entries and exits, and not by how much money a trader hopes to make. Traders should follow the flow and let the market come to them, never letting failed trades from their past force them to revenge trade. Winning traders always stick with their historically proven trading system. Casinos do not close down if gamblers go on a winning streak, because they have calculated the odds and play based on those odds. If we can’t beat them, let’s join them. Be the casino, not the gambler.

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Things you can control: • Prepare a strategy and rules with a statistical edge • Calculate the appropriate risk • Set a stop loss and enter • Exit Things you cannot control: • Controlling market movements • Winning every trade • Today's profit target • Avoiding losing streaks Don’t torment yourself over the things you can’t control, and focus on what you can do. Good night😴

@wannabechamp pass

Bulletproof Risk Management for Prop Firms With this risk strategy, your account is only at risk if you lose 17 trades in a row 👀 RT & Reply 'PASS' and I will DM my free guide (video + PDF) (Free for 48 hours only)

Never go all in. Dollar Cost Average is key! Take your time and let your plays compound. Slow and steady wins the race

"Accepting losses" doesn't mean enduring something unpleasant. It means understanding how losses lead to profits, finding edge in losses, and recognizing that "losses = accepting the system." There's no good or bad between wins and losses. Both are parts of the system, and both are necessary for the system's edge. You ultimately retain profit precisely because you take profits at rule-based points and cut losses at rule-based points, repeating these actions. Accepting losses means accepting the system itself. This isn't about forcing yourself to believe, but rather having already experienced and understood this many times through thorough testing and practice. Good night😴

🥉Third-rate traders don't know the data. 🥈Second-rate traders know the data. 🥇First-rate traders "experience" the data. Backtesting isn't just a place to get data. It's a place to experience data, and that's the most important part. Many traders think that just getting data from backtesting is enough. Of course, that's important too, but just knowing the data leads to doubts during inevitable losing streaks and drawdowns, causing anxiety that the market has finally changed. Traders who have "experienced" the data through extensive practice have repeatedly gone through the chronological events leading up to the system's final performance. They understand through experience that losing streaks and drawdowns are necessary parts for probabilities to converge, and these don't invalidate the system. Above all, they have confidence in their ability to continue executing their rules accurately. Through understanding based on their own experience and the transformation of their beliefs, they become unable to obsess over immediate results. They simply repeat the same actions without thinking. Good night😴

Telling someone not to be swayed by emotions is pointless. Because those emotions reflect the trader's beliefs and thought processes, which are tied to their understanding of trading. These emotions will always be consistent with their level of understanding. In other words, since your understanding can't surpass those emotions, you inevitably feel them justifiably. You can't escape yourself. Instead of aiming to become unfazed by emotions, aim for a state where those emotions don't arise in the first place. Emotions in trading are secondary emotions, different from fearing thunder or darkness. Babies who don't understand numbers or charts don't feel fear or joy looking at them. Feeling fear or joy from looking at a chart always presupposes "how you understand it." In other words, emotions in trading change based on changes in understanding and perception. That's why I constantly emphasize the transformation of beliefs and thought processes through deep understanding. This understanding is built through practice and experience in trading based on probabilistic thinking with extensive backtesting. Deep understanding is understanding through action. Knowledge is merely a gateway to understanding; ultimate understanding is action. That's why data alone is insufficient in backtesting; practice is the most critical aspect. It's not about knowing the data, but about "experiencing" the data. Experience cannot be skipped. Simply knowing probabilistic thinking as knowledge is meaningless. The key is how much you've practiced profiting through a large number of trading samples. Traders who have extensively practiced with their systems through tens of thousands of backtests have no reason to be anxious about losing streaks. They become incapable of fixating on immediate results. This is the transformation of beliefs and thought processes through experiential understanding. There's no need to deal with emotions that no longer arise.

Amateurs cannot increase their funds even with a 90% win rate. Professionals can increase their funds even with a 45% win rate. How deeply do you understand the reason why?

@nicktheriot_ scale

1. Praca daje pieniądze 2. Pieniądze kupują aktywa 3. Aktywa budują majątek 4. Majątek zapewnia niezależność Niby proste, ale większość ludzi zatrzymuje się już na drugim punkcie. Konsumują pieniądze zamiast wydać je na aktywa albo niepotrzebnie się zadłużają 🤷‍♂️

@Dominik87742705 co za swir

@Dominik87742705 moj stary po mleko

Rich people buy time. Poor people buy stuff. Ambitious people buy skills. Lazy people buy distraction.

@Samuel_Ecom1 Funnel

@OptionsBuffett Trade

The hardest parts of trading: 1. Patiently waiting for the right setup 2. Boldly pulling the trigger on the right setup 3. Calmly accepting the final outcome of the right setup