64 Powerful Pieces of Trading Wisdom

64 Powerful Pieces of Trading Wisdom

The following are top tweets from Tino @tradersreality.

Traders Reality Wisdom:

Knowledge only becomes wisdom if it is transferred and applied. I have compiled 64 of the best tweets that focus on the psychology of trading. This is beneficial for those who would rather refer to this document in their spare time, maybe print it off and have it near their trading desk? Enjoy…

1. It’s so important to understand what is meant by failure? Failure occurs when you lack knowledge, even if you have the knowledge and still fail…well I guess determination and perseverance come into play.
2. If you are prepared to study an indicators entry and exit criteria, why would you assume that is all that is needed to make money. Pay more attention to the function of how the market works. Then you will realize that indicators alone are not sustainable.
3. You have to build calluses in your mind. The tough conditioning of losses builds a character that eventually develops a discipline of awareness and embraces uncertainty. Train your mind to lose, perform to win…
4. The development of a irrational trading mind starts with the traders lack of conviction on their preferred trading personality. It’s paramount to your progression that you establish your trading personality.
5. Most new traders are back testing how their method will perform. Most new traders neglect to train the mind which equals emotional imbalances. 
6. A Trader that boasts of his victories, tends to be hiding his losses. Entertain the Trader that talks of losses for he has been humbled.
7. I used to take losses and be angry. Then I accepted one important element in trading. I
8. Believe Me When I Tell You…Unless You Accept Uncertainty, You Will Forever Have Expectations That Will Lead You To Losses. Learn Acceptance.
9. Some Are Happy To Accept Reality Of Being Correct But Not If Wrong. This Battle In Our Mind Will Forever Obstruct Our Progression as Traders
10. Losses are Gold to every trader.
11. An Old Saying Can Be Related To This “Observe Your Enemies (Emotions) They Highlight Your Faults.
12. Many Hide From Losses. Little Do They Know, Losses Are The Key To Changing And Becoming Aware Of What Needs To Be Done To Improve.
13. Trade for the moment, for the dwelling on expectation of a move is sure to upset and damage your trading moral.
14. The market will never teach you how to win. It will teach you how to become one with your mind. The battle is in our minds. 
15. Never Start Your Trading Week Convincing Yourself How Much Money You Are Going To Make. Focus On Trading Well. The Money Will Come…
16. Rule Of Sales: Customer Is Always Right. Rule Of Trading: Market Is Always Right!
17. Taking Time Away From The Markets Creates Transparency In Your Mind To Correct Behaviors That Sabotaged Your Trading.
18. Your philosophy is the determining factor to your trading success.
19. The minute that we change our minds and stop giving power to the past, with its mistakes, loses power over us.
20. Our brains use biological mechanisms to translate expectations of what we want to perceive…Manage these mechanisms to trade mindfully.
21. Why Get Mad If Your Indicators Give You A False Signal? There Is No Indicator That Factors The Unknown.
22. Never be excited to trade…This will set you up to avoid taking losses…More importantly feeding The Ego.
23. It is through adversity, you are then able to reset your mind and focus on forming new habits to overcome the self limiting beliefs.
24. There’s no greater wisdom than of those who tell you not to make a mistake.I guess the smart learns from himself. The wise learns from others.
25. The only factors that market makers rely on is fear and greed of retail traders. Not to forget that they make the market. So they can see all orders and simply send price in that direction to get their orders filled
26. Does your imagination as a profitable trader hinder your approach to trading successfully? Do not be fooled by short term success.
27. A Trader Will Continue To Encounter The Dark Perils Of Trading… It Is Only When He Accepts That He Is Allowed To Be Wrong, He Is Then Free. 
28. Trading is about the expression of one’s character to manage their behaviour through the chaos of the financial markets. Only when he is one with his mind he expresses his true ability as a mindful trader.
29. Let’s Face It…Trading Is Like This…Some Will, Some Won’t, So What!!!! Next Trade. If you understand this…You free your mind of expectation
30. It’s Really About Taking Your Profits And Accepting Your Losses. Everything Else That Intervenes Is Bad For The Trading Soul.
31. Trading Safely Is Like The Habit Of Driving Safely, Always Pay Attention, Whether You Are Angry Or Happy, You Still Have To Drive (Trade) Safely. Habit Will Protect Your Car (Capital).
32. Results orientated: in poker, you have no control of the outcome of the flop. You only have the strength of your hand to go by. Acceptance and understanding of variance sustains longevity. This is no different in trading. 
33. The beauty of trading is this. The harder you work, the harder it is to surrender.
34. The only way you can really apply yourself when taking a trade is to not care…how do you do it? Simple. Practice…like driving a car. Are you continuously conscious of changing gears? No. Subconsciously you do it without hesitation. It’s the only way to move forward.
35. Anyone that enters into the realm of trading usually has the perspective of “me against the market”…The true reality is, it’s “ Me Against Myself” before you confront the battle of trading, confront the battle in your mind.
36. A mistake that traders make, one that took me a while to overcome was once I entered a position,I turned from a trader into an investor…Biggest mistake you can make. If your position is losing, get out, don’t “ride it” in hope it will return. Waiting to break even costs money.
37. Trading should be the same way you would bet on a roulette table: 1) you bet/trade 2) your number hits/trade is profitable 3) you take your winnings/close trade. So why would you allow a winning trade to turn into a loss. Take whatever is given by the market. You never knew it would be a winner.
38. Admitting that you lose is the first step to transitioning as to why you lose. Many traders, even myself, have struggled with accepting this. It’s only when enough money is lost that you then decide, “to survive in this game, I have to accept it’s OK to be wrong”. 
39. When you decide to not allow your conflicts of the mind to deter you from making systematic and objective decisions, you will be taking the first step to becoming a trade
40. Once you detach from the money. You then become a trader. A trader thrives on the process not the result. Being results oriented most likely guarantees expectations, which definitely guarantees upsets and mistakes.
41. Many will learn from their mistakes, but few focus and study their behaviour when they were right…Learning from mistakes saves you money…Learning from your wins, makes you money.
42. A Retrace. The idea behind it is “oh it needs a break” or “it’s taking a breath”…that’s what the market makers want you to think. A retrace is a stop hunt for the market makers to suck in as much liquidity as they can to fill their orders. Don’t be fooled.
43. When you learn to detach from what the market is fooling you into believing, you are then in a position to take advantage of the market makers momentum. Get in and get out. The market is no place for heros. You will get slaughtered.
44. The mind is a great thing. Funny how you place a trade and then all of a sudden the entry you took does not seem to align with your analysis? Hindsight does that to you, but we can avoid this by simply accepting what to and what not to focus on and what it should be.
45. There were days when I felt compelled to trade. This was because I had FOMO. A fear of missing out mindset is guaranteed to make you successfully lose each time you enter into the market with this way of thinking. Cash is a position too.
46. If you really want to succeed in this game, you have to let go my friends. This game takes no prisoners. It doesn’t care if you have a $1 million account or $1,000, to the market, it’s liquidity, they will take it from you. Unless you learn to play the game.
47. The great thing about trading is, you only need to be right 50% of the time..there are traders that are right less than 50% of the time and are profitable.??? Money Management and Mind Management are what makes money.
48. Be aware of the FOMC. This is a passport for the market makers to really take out areas of liquidity for their own gain. If you have profited from today’s movements. Great…Don’t give it back. Let the Dumb money get swallowed.
49. At some point you will develop the skill set to be able to close a losing position and re enter. Avoid being results oriented, focus on the process of execution, if done correctly, the results will always be positive.
50. Your objective as a trader is to survive. If you trade and win, great…Next trade. If you lose and lose small, great…Next trade. It really is all about the process of entry to exit and simplifying this behaviour by managing your emotional imbalances.
51. Avoid thinking like the herd. It pays to really focus on the behaviour of the one who controls the herd. Then you will have you answer.
52. You will only improve your trading if you allow yourself to. The same way thing stands if you close a losing position when your rules tell you too and close a winning position when your rules tell you too. Becoming aware of your behavior, then you can grow.
53. It’s nothing to be afraid of…Losses are indefinite in this game…Just aim to keep them small.
54. Trading is all about gathering the wisdom of those who are prepared to share their losses, their wins and determination to find the balance with their mind.
55. Who cares if you made a call and said price would hit a certain price area, are you a genius? Have you developed a flawless consistently profitable indicator? Who cares! Demonstrate your ability to manage risk effectively before you claim the title of “Trader”.
56. If you feel the market is out to get you…your right…but the flip side, the market can be very rewarding, it’s all down to perspective and mindset.
57. Don’t fool yourself into thinking that the current trade you have is the final one. There will always be tomorrow.
58. It’s no secret, the market makers will manipulate price.They can also manipulate your mind. If you’re thinking is irrationally based, then this is your greatest adversary. Fix your thinking…Then you will see trading for what it is
59. I guess the greatest tool to a trader is a drawdown….this exposes you, to your faults and thoughts. Using a drawdown can be advantageous and help you improve your trading. Drawdowns happen regardless. It’s what you decide to take and learn from each one.
60. If there is one thing I can share with everyone. If you’re trading. Always, Always, Always, pay yourself…This game is about longevity. 
61. So you are left with a zero account after you had received margin call on a position to only see it be closed out…the irony is, the moment you placed the trade, your mind said “that’s too much”, but greed stepped in…be systematic, not impulsive.
62. I guess the key to trading successfully is to accept that you have no idea how the market will behave…However, have a very clear vision of how much money you are willing to risk. Always make money management your priority
63. Always, always, protect yourself…I guess the science of boxing and trading are really no different. The battle you must overcome is the battle of “You Against Yourself.”
64. There is no indicator that will manage your emotions during trading. However, executing a plan, without hesitation will eliminate you responding emotionally to any circumstance that arises in the market

Trade Well My Friends

You can follow Tino on twitter at @Tradersreality and visit his website at tradersreality.com.