Posted inTrading Grimoire
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I heard an interview with a trader (https://www.youtube.com/watch?v=1ETvTftY-tw) who never takes a trade that he is not willing to accept a complete loss on. I'm thinking about that PLTR protective…
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Latest "Trading Education Notes" files
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Posted inTrading Grimoire
Get Really Good At One Thing
Everybody seems to say this. For me it could be the strategy I've been working on paper trading lately. But everyone says lack of focus will cost you.
Posted inTrading Grimoire
Patience
You need patience. You can't say "I don't want to wait, I might miss the trade." You wait for confirmation and then only get in if you didn't miss the…
Posted inTrading Grimoire
Open Interest
Open interest in options is how many live contracts are currently held. Larry Williams points out that when there's a lot of open interest, there's nobody left to buy. It's…
Posted inTrading Grimoire
Trading Thesis
Traders refer to a "thesis" a lot. I've come to believe this is just jargon for a hypothesis. "I think it will do this".
Posted inTrading Grimoire
Options Are For Strong Conviction Trades
I got some advice recently that I liked: options are for strong conviction trades. "I think this might work" is for shares trades, not options. "This is working as expected"…
