|Forum - Wall Street Pit
||Stock Due Diligence for All|
|From: Lionmaster (Rep: 6265)||Date: 07/18/2020 14:51|
|Forum: Wall Street Pit - Msg #2865578||Thread #674179689 (Rec: 11) |
|How to become a great trader overtime. You gotta go ALL IN. No question on this. Starting off you gotta know the dynamics of the stock market. Then you gotta focus on game theory. Trading is not investing although trading uses some of the skills in investing ie due diligence. You gotta focus on the 6 rules that is speed , info, time/consistency, mindset, capital, and reputation. Focus on improving a few of these daily. Trading is competition by its core and you have to become a beast of all beasts. Never ever trade scare what fake paid gurus teach. They all wanna string you along and make you pay more of their courses. You need to become a master of your own domain. Think today what you can improve on and don’t procrastinate. When I started out FT trading I used to spent 17 hours daily just working on everything. It’s the mindset and attitude and that’s one of the trading rules as well.|
1) Speed - How can you become a faster trader and faster at finding and or deciphering the news. How fast is your trading setup to be. Are you able screen stock fast, do lightning fast DD and put on a fast trade.
2) Information - Where do you get your information as a trader. Do you still rely on old news source or ways. Are you able to dig for info most traders missed? Regarding sector trading do you know all stocks in hot sectors? Do spent time DD all stocks beforehand go company website and learn.
3) Time/Consistency - Are you putting in the hours day in and day out. Also while on vacays are you still focusing the same. Are you the one who get up early before market opens and stays late into the night studying. Are you putting in good # trades consistently but not over trading.
4) Mindset - As far as your mindset goes do not take trading as a joke. Do push yourself learn new trading strategies ie algos and not just 1 strategy ie stock market is dynamic. Are you able focus when mkt is down & stay away from distractions. Can you turn trading into #1 passion. No Buts IFs. Can you become a Lion.
5) Capital - The capital advantage from quant algo prop firms cannot be overstated. They create havocs vs retail traders. They possess immense capital advantage to go w speed against your trade as long as you in it. The best algos from Goldman have a 90% win rate. They don’t use charts you do. As you built up your own capital over time you will be more and more powerful. You can stem the tides and turn the tides and battle with the better and or best traders on Wall Street.
6) Reputation - Do provide your level of trading expertise to help other traders freely so they become better traders. That in turn will help your credibility game because many times you will gain valuable insights faster ie sectors or stocks by networking with top traders. Reputation is key. Warren Buffett becomes massive successful because he’s reputable and able to pick the best stocks by networking with insiders and get the best managers to run for him after the acquisitions.
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***Disclaimer & Disclosure*** I posted this message for your casual reading only. The message(s) above is neither an investment advice nor suggestion(s) to buy or sell ANY securities at ANY time, PERIOD. Please discard this post at once and DO NOTHING and MOVE ON. The accuracy, completeness or timeliness of the information posted here is not guaranteed by me. There may be delays, omissions, or inaccuracies in the information due to my own haste to do MY OWN fast due diligence for MYSELF only! The message postings here is 100% free and posted as casual and fun reading only. Last but not least, I am not a registered investment advisor in any shape or form, please do not ask me for ANY investment advice.
And by the time you read this post, I ALWAYS have bought any of securities mentioned above AHEAD of time before I post. And, I plan to sell all of the securities mentioned above within minutes or keep some for daytrading and/or short-term investing. It is my decision. The decision to buy or sell any security that may be listed above is done purely at your own risk. Please consult a licensed broker before trading. You now HOLD 100% responsible for your own trades and own actions!
1998 Yahoo! Stock Picking Challenge 1st Place Champ! Out of approximately 200,000 contestants.
Top 25 Finisher 2006 CNBC Portfolio Challenge! Out of 250,000 contestants.
What is history is history, now learn to do your own stock picks and be a champ also! Empower yourself!
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