Tag: trading
-
Mental Models for trading
I’m a big fan of Farnam Street and its Knowledge Project. Shane has captured a lot of different mental models, which can be used to make better decisions. I think this can also be applied to improve your trading. Within this article series, I will try to look into the most relevant mental models and…
-
Boring Review – January 2023
January is over, and it is time to recap and gather statistics on my trade strategies. For simplicity, I call them The Boring Strategy 1 (TBS1) and 2 (TBS2). I trade it on two pairs – US30 (Dow Jones Industrial Average Index) and GBPUSD(British Pound / US Dollar, also known as “the cable”). As of…
-
What does a realistic trading journey look like?
For many people, the first question when they start trading is, when do I become profitable? How long will it take? How many days do I have to trade to learn it? These are unfortunately questions that nobody will answer for you. And if someone says they will, they are likely trying to sell you…
-
Trading is not predicting
Most new traders think they need to become some sort of a wizard and predict what the market will do. This strategy is doomed and will fail because it’s like trying to predict the future. Unless you have a time machine, I can only wish you good luck. Trading itself is so difficult because it…
-
ChatGPT
Welcome back after a long break. Turns out maintaining habits is sometimes harder than one may think. Today I will start with something easy. ChatGPT. I am sure many of you have been playing with it already but how will it impact trading itself and the industry? First, let’s define what ChatGPT is and how…
-
Every trade is atomic
All physicist scream now “THIS IS NOT WHAT ATOMIC MEANS”. Whatever ladies&gents. Welcome to my blog. Every trade you take is an independent event. It has nothing to do with the trade you took previously and it will have nothing to do with the next one. You take it because you want to pay the…
-
Why do you trade
Why do you trade? You should ask yourself that question and find an honest answer. If it is good enough to get you through the pain of failing over and over and over again, you will succeed in trading, assuming that you actually love it. Most people want to leave their day-jobs or just want…
-
Profitable trading is boring
There is a major misconception around trading. If you look at Instagram or TikTok, it is full of “traders”, traveling the world with hot girls, while making a fortune on their phones / macs, posing with a Rolex, in front of the Lambo. Everything is new, shiny and exciting! The reality is slightly different. Profitable…