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The market is like the ocean. So vast, so deep & expansive. Most of us ride paddle boards or surf boards in this simile… maybe a few are fishing/charter boats. Hedge funds are like oil tankers or cargo ships.
While some may create wakes, the currents & waves are far beyond our control. All we can do is try to recognize the signs, and ride the waves as they come. 🏄♂️🤙
TM retweeted
Heads up - today is "quadruple witching."
Four kinds of derivatives expire at once (stock options, index options, stock futures, index futures). It happens just 4 times a year, and today is one of them.
What it means for you:
😕 sounding more and more like “The Matrix” could actually happen, if we aren’t already in it 😵
👇🤌
Nobody tells you this when you start trading:
The hardest part isn't necessarily understanding charts/setups. It's the version of you that shows up when you're down.
If you look back to your most disappointing stretches, you will realize that somewhere in there, usually after a phase of market that tired you out, you broke your composure, and then your rules.. which led to mistakes.
If you really think about it, the market isn't always testing your analytical skills ie how well you can see setups, or rotations or what have you. Sometimes it's testing your temperament. Can you take 10 red days in a row and still show up on the 11th relatively unfazed and neutral? Can you remain in a positive spirit even when nothing is going your way? Can you maintain your focus on yourself even when others around you are outperforming you?
The traders who make it aren't always the ones who are smarter. They aren't the ones who are the most fearless. They just stopped treating every loss or disappointment as a verdict on who they are. Your P&L is not your identity. Your last ten trades should have no vote on your next one.
You're going to have stretches where nothing works. Everyone does. Those stretches aren't the market rejecting you. Learn how to lose well first, and part of losing well is learning how to lose less. The winning comes later, and it comes quicker than you expect once you become a better loser.
If you're in the middle of it right now, still here, still trying: that's the whole game. Keep going. Persistence always pays in the end.
I think it was Druckenmiller that said something like “it doesn’t matter if you’re right or wrong, it matters how much money you make when you’re right, and how much you lose when you’re wrong.”
And it was spot on
🤌
Always remember that the goal is to make money, not be right. If a setup fails, move on... to the next one.
Look at historical price action. What do you notice before price moves? Any tendencies? Can you duplicate that in a scan? Then fine tune.
Always something setting up
$MAT interesting look here. Wedge base, breakout, retrace, and now may be trying to push this immediate downtrend
$SNAP trying for downtrend breach and channel mid line reclaim 👀
Maybe she goes for a run?
TM retweeted
Million ways to get it... choose one.
Bring it back. Now double your money and make a stack.
On to the next one
On to the next one
On to the next one
On to the next one
On to the next one
$SBUX potential cup & handle build. Needs to confirm to go. Back above 110 has a shot. On my list.
#FF Happy Friday
Traders:
@SunriseTrader
@TechCharts
@OMillionaires
@the_chart_life
@SimpleSwings
@enrichtrades
Tools/Data:
@EquityClock
@InsiderTape
@VolumeLeaders
@ExplainThisMove
$GILD showing an IHS build on the daily. It's trying... Looking for 153 and upside continuation 👀
$PATH target hit 🎯💪
$NOW if can hold above today's low, could have to potential to push to 146+ on next leg. Needs to get back above that channel mid-line
$PATH popped up on my radar today. Ending diagonal into an IHS build. Potential to 16.30 plus if structure holds and it's able to push.
TM retweeted
Prem Watsa, the investor they call the "Canadian Warren Buffett," has quietly bought more than $66M of Under Armour this year, right at its lowest levels in a decade. Everyone gave up on the brand. He's backing up the truck. $UA 👇
Notable accumulation on $ENR 👀 Repeat buying following the falling wedge breakout. Earnings 8/4. Insider chart via @insidertape


















