BowTied Trader
@BowTiedFXTraderI’ll tell you what your favorite gurus won’t. I post about FX trading. No bullshit, just real-life experience. Hit follow and I’ll help you become consistent.
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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,…
Why You Can't Succeed Even When You "Know How to Win" 🧵 There are many traders who know how to win, yet few succeed. Why? ↓Thread 1/5
Its wild that it takes some states so long to count votes. Not shady at all. Trump for the win! 🇺🇸
Remember when it comes to trading, all the important stuff is what you don’t hear people talk about. Risk management system, exit strategy, time frame clarification, disciplined process. People who try to follow traders don’t end up happy. Need to put this near my trading post.
You are an essential part of keeping the system running accurately. And the biggest risk within the system is you.
This is an aspect of becoming a successful trader that most overlook. Reprogramming yourself is the biggest hurdle that needs to be overcome. Not building out your system or edge but it’s the intangible part of trading that’s hardest to conquer. Going against natural…
Your actions reflect your beliefs and thought processes. If you can't follow the rules, - You likely believe that the outcome of the current trade is more important. - You don't trust the statistical edge of the system. - You think the outcome is your responsibility or…
If you don't invest time in self-exploration, you risk internalizing others' random and conflicting perceptions of you. Developing a deep, intimate understanding of your own identity is crucial for safeguarding against adopting disempowering opinions from others. Many will try…
Probabilistic thinking is key in derivatives trading for managing uncertainty, assessing risk, developing robust strategies, and achieving long-term success. It helps traders make informed decisions based on the likelihood of various outcomes. This is where expected value comes…
Thanks to @samuraipips358 it seems like more and more people are talking about probabilistic thinking, and training themselves to be indifferent to wins and losses. A step in the right direction!
This is an excellent way of thinking. IMO this is what separates the novice from the expert.
The Basics of Probabilistic Thinking: Understanding Expected Value🎲 When trading using probabilistic thinking, all results of trades executed according to the rules—both wins and losses—are necessary. As long as you're following your trading rules, you're making money. This is…
The core of this is also applicable to trading ladies and gents. Same sort of bias occurs when you have winning or losing streaks. Focus on the result of the overall system after a large enough sample size has been accrued.
Your subconscious doesn’t see context. It pattern-matches using sample. If a persuader floods you with biased sample that always shows a group in a certain light, it warps your perception of them. Some refer to this as “implicit bias.”
Doesn't matter what bullshit life throws at you or how tough your current situation is If you: Do your cardio daily Go outside for an hour daily Eat quality foods daily Lift weights 3-4x weekly You'll be okay And yes you have time Every single one of you
Recognize uncertainty, assess likelihoods, evaluate outcomes, and make decisions based on expected value. Large sample sizes reveal true probabilities. Adjust with new info.
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