Trading

3 Trading Tips That Have Changed Traders Lives

Published

3 years ago

July 17, 2021

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Can you imagine watching a few videos and BOOM, now you are a lawyer or you read a few books and now you are a brain surgeon? Becoming a professional in the Stock Market is not a get-rich-quick scheme. In fact, anyone can be a trader in today’s age. All you need to do is download an app, open a brokerage account, deposit money and click buy and sell (which I do not think is a smart thing to do). Can you imagine if your surgeon opened up a “how-to” book and then began operating on you? How would you feel about that?

“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the man of inferior emotional balance, or for the get-rich-quick adventurer. They will die poor.”, Reminiscences of a Stock Operator

Most new traders make common mistakes and do nothing to correct them or learn from them. They look at the Stock Market as a casino to make money. They look at the reward first.

Here is a sample part of my new book coming out that will be released in 2022:

Mr. Sior, may I ask you a question.

“Go ahead and ask away,” Sior said as he tucks his cloth into his shirt getting ready to eat.

So what would you tell your 17 year old self, I asked him.

As he cuts his steak with his knife, he stops and thinks about how to answer the question. He then looks up with a serious look on his face and says ”Son, I would tell my 17 year old self that life is not all about money. With 60 years on this earth I can tell you with certainty that relationships were the real wealth not money. To my young self, I say to slow down. You may want it now, right now but, trying to achieve quick success in the Stock Market will result in quick failure.”

“The reality is in this industry people either get rich or go broke. Rarely do people stop breaking even on their initial investments. This is because when people start making a decent dollar they think they know something or have cracked some code in the Stock Market but this is false because no one knows what will happen in the market, no one has some secret code. This business and I say business because trading is a high performance business, is all about management. Being able to manage time, manage emotions, manage risk, manage discipline. When people experience success in the Market they stop thinking about managing risk and they start thinking about reward.”

“REWARD REWARD REWARD” Sior screams and slams his hand against the table.

“THINK RISK RISK RISK, because without risk management you will blow up, get carried to the cleaners very quick and then you will just be another broke trader” Sior said

I could not believe what I was hearing but many years down the line Mr.Sior was right about a trading rule , an important trading rule:

Play defense first, think risk first. Never enter a trade without a risk-first mentality. A reward first mentality will result in a bias and any bias could result in lack of risk management and the failure to read the tape.

1. Focus on Being The Best Trader, Not Making Money

The Financial Markets are a great place to generate potential generational wealth. As a trader, you need to ask yourself what you hope to get out of the Markets? Are you focused on making money or becoming the best trader you can be?

“I went from mediocre to a stellar performer when I told myself: To heck with worrying about the money and obsessing over the scoreboard. I’m just going to focus on being the best trader I can be and sticking to the rules. Then the money followed.”- Mark Minervini, Think & Trade Like A Champion

Many traders judge their trader performance against those on social media. If you follow some young hot shot who claims to have turned $1,000 into $100,000 in 6 months then your view of trading is probably going to be viewed on a reward first basis.

“The new trader will often blame his failures on lack of capital. They say “If only I was able to buy 10,000 shares I would make $1000 a day”. Many youngsters say this and this is a reward first mindset that just shows you that if you were able to buy 10,000 shares you would lose it rather quickly. Remember Mr. Sior said, RISK RISK RISK! Having a risk first mindset ALWAYS was a key trading rule of mine.”– New Book Coming, 2022

2. Do Your OWN Work, Don’t Follow Picks Blindly

In the book, Market Wizards by Jack Schwager, numerous times in his interviews with the world’s top traders, a conversation came up, about if “trading can be taught” or along the line of this topic.

Maybe you are paying for a mentoring service or stock picking service right now and that is fine in my opinion but, your mentor can only guide you to success they can’t hold your hand through the good and bad.

During the conversations in Market Wizards, Michael Marcus who turned $30,000 into around $80Mil was mentored by Ed Seykota, who was another Market Wizard. While learning from Seykota, Marcus was STILL LOSING MONEY. In fact, another trader mentioned in this book taught a group of traders but, it didn’t work out as only a small part of them did succeed.

The point is, don’t rely on a Guru to give you success. They can show you the ropes, and help you learn principles but you are the one that has to make the decisions to buy or sell. There are TONS of ways to make money in the markets and your trading style needs to align with your emotions. You may have different emotional traits than your mentor.

“…the fruits of your success will be in direct ratio to the honesty and sincerity of your own effort in keeping your own records, doing your own thinking, and reaching your own conclusions.” –Reminiscences of a Stock Operator

When being a trader you need to actually work. Believe it or not, it takes more than just logging into an app, going on Twitter, and seeing what everyone is buying.

We created a free-trade plan and trade recap website that you can convert your answers into a downloaded PDF file. The website is called iMarketPlan.com.

Having a plan, a written down plan that is pre-mediated can possibly give you a clear edge that you have been looking for. If you are a struggling trader then you need to look in the mirror and ask yourself if you have been lazy and can you work harder, then GO AND DO IT!

“Long-term success in the stock market has nothing to do with hope or luck. Winning stock traders have rules and a well-thought-out plan. Conversely, losers lack rules, or if they have rules, they don’t stick to them for very long; they deviate.” Mark Minervini, Think & Trade Like a Champion

3. Know Your Average Profit and Average Loss

Do you know your average win and average loss? If not you are missing out.

If your average profit is $1000 and your average loss is $500 then you know you can have a win percentage of 50% and still be profitable.

Most traders do not know this stat. Traders will study videos, and books but they WILL NOT STUDY THEMSELVES!

Knowing these stats, at least for me allows me to set goals. My goal is to bring my average profit up and my average loss down. Of course, during different market conditions and volatility my average profit could see a decrease but, if my average profit does decrease and my average loss stays the same or increases then I know I need to move to the sidelines because I do not have a clear edge in the current market conditions.

“PWT (percentage of winning trades)*AG (average gain) / PLT (percentage of losing trades)*AL (average loss) = Expectancy” – Mark Minvervini, Think & Trade Like a Champion

I have quoted Mark Minervini’s book Think & Trade Like a Champion multiple times in this article. If you like the quotes then you should go buy the book. I personally own the book and do not get any money for telling readers to go buy it. It is a good book and easy to understand.

To wrap things up, I will leave you with another sample from my book coming in 2022.

“Frankie boy, thank you for coming, I am assuming you did not sleep this morning and been waiting here for 5 hours” Mitchell said

“Yes, Mr. Mitchell you are correct” I said

“Do you know why I made you wait so long?” Mitchell asked

“No, no I do not” I said

“Because you want to be a trader, and trading requires waiting and waiting and waiting. See, kid, everyone thinks trading is a game, where it is action packed but the real traders know that the more boring it is, the better they trade. If you want to be a trader, you must learn to sit and wait and not do anything even though you are bored. If you fail to sit and wait then you will end up self destructing yourself and going broke. The problem is people see others making money and people who make money love to tell people they made money. Very few people actually make big money, so do not listen or care for anyone else’s profits or success other than your own. I have made billions of dollars and I can tell you the library clerk will have more action in their day then us successful traders.” Mitchell said

“Understood Mr. Mitchell” I said.

“Kid, the big money is made in buying and holding. If you are trading in and out everyday just for sport then you will miss the big move. Do you remember when I was in the news for my cotton trade? I didn’t sell out the first day even though I was up 100%, no no no, Frankie boy, I sold out when the tape told me to sell out. You can never beat the Markets, the Markets will beat you. So it is best to under trade and hold onto the winners.”

I said to myself “ You can never beat the Markets, the Markets will beat you” that is exactly what Mr. Sior had told me!

Hearing two of the best traders to ever live say the exact same thing meant it had to be true and completely devastated me.

If you liked this article you can follow me on twitter: @ChartBreakouts

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Contact: info@LussosNews.com

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Trading

3 Must-Watch AI Stocks in 2024: Unveiling ShiftPixy, C3.ai, and CXApp’s Market Potential

Published

2 months ago

February 27, 2024

Sir Chartist

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Top 3 AI Stocks to Watch: A Comprehensive Analysis

The artificial intelligence (AI) sector is booming, reminiscent of the dot-com bubble, yet with a solid foundation in technological advancements that promise to reshape industries. As investors look to capitalize on this wave, understanding the top players in the market becomes crucial. This article delves into three standout AI stocks: ShiftPixy (NASDAQ: PIXY), C3.ai (NYSE: AI), and CXApp Inc. (Symbol: CXAI), offering a detailed analysis of their business models, technological innovations, and investment prospects.

$PIXY is making a huge DIVE into the A.i Space!

▶️This is a OVERLOOKED A.I. usecase! ◀️

🗞️ NEWS: AI to Accelerate Human Capital Engagement – ShiftPixy’s High Value AI Use Case

ShiftPixy's Innovative AI Solution Boosts Efficiency and Productivity in the Worker Acquisition… pic.twitter.com/2AF9S3FVQa
— Sir Chartist (@ChartBreakouts) February 27, 2024

ShiftPixy (NASDAQ: PIXY): Revolutionizing Recruitment with AI

ShiftPixy stands out for its innovative approach to leveraging AI in the gig economy. With a mission to accelerate human capital engagement, ShiftPixy’s AI-powered recruitment system is a game-changer. This platform not only enhances efficiency but also improves productivity in worker acquisition. By automating the recruitment process and ensuring a better match between job seekers and employers, ShiftPixy addresses the critical gap in opportunity matching, a pain point for many in the industry.

C3.ai (NYSE: AI): Leading the Charge in Enterprise AI Solutions

C3.ai, with its memorable ticker symbol, is at the forefront of providing comprehensive enterprise AI solutions. From optimizing inventory levels to managing supply chain risks and promoting sustainability, C3.ai’s applications span a wide range of industries. Despite being one of the top shorted stocks on Wall Street, C3.ai’s innovative solutions and strategic partnerships position it as a key player in the AI landscape.

CXApp Inc. (Symbol: CXAI): Transforming Workplace Experience

CXApp Inc., formerly known as KINS Technology Group, offers a unique proposition with its workplace experience platform. This SaaS platform integrates various technologies to enhance workplace efficiency, employee engagement, and overall experience. With a significant trading volume and a focus on innovation, CXApp Inc. is poised for growth in the evolving digital workplace domain.

Investment Considerations and Market Dynamics

Investing in AI stocks requires a nuanced understanding of the market dynamics, technological potential, and the unique challenges faced by these companies. While the prospects are promising, investors must navigate ethical considerations, regulatory landscapes, and the inherent volatility in tech stocks. Diversification, informed decision-making, and a keen eye on market trends are crucial for capitalizing on the AI revolution.

Conclusion

The AI sector offers exciting opportunities for investors willing to delve into the complexities of this rapidly evolving field. ShiftPixy, C3.ai, and CXApp Inc. represent diverse aspects of AI’s potential, from recruitment and enterprise solutions to workplace innovation. As AI continues to infiltrate various sectors, keeping abreast of these top stocks and their developments is essential for informed investment decisions.

FAQs

What Makes an AI Stock Worth Investing In? Investing in AI stocks requires evaluating the company’s technological edge, market position, and growth potential in the context of broader industry trends.
How Do AI Companies Generate Revenue? AI companies typically generate revenue through software licenses, subscriptions, consultancy services, and, in some cases, hardware sales.
What Are the Risks Associated with Investing in AI Stocks? Risks include technological obsolescence, regulatory challenges, high valuation multiples, and competition from both established tech giants and nimble startups.
Can AI Stocks Provide Sustainable Long-Term Growth? Given the transformative potential of AI, well-positioned companies in this sector could offer sustainable long-term growth, but this is contingent on continuous innovation and market adaptation.
How Does the Performance of AI Stocks Compare to the Broader Market? AI stocks often exhibit higher volatility and growth potential compared to the broader market, reflecting both the nascent stage of the industry and its transformative prospects.

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Lusso’s News, LLC has been compensated $15,000 by a third party for marketing services on behalf of Shiftpixy [NASDAQ: PIXY]. This compensation covers the period from January 1, 2024, to April 1, 2024`. In the interest of transparency, it is important to note that Lusso’s News, LLC may receive additional advertising revenue from new advertisers and may collect email addresses from readers, which could be monetized.

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Business

LQR HOUSE’s Sean Dollinger Teams Up with Michael Jordan’s Business Partner Bjarne Borg in Exclusive Interview

Published

3 months ago

February 7, 2024

Sir Chartist

In a recent development that’s stirring interest among investors and enthusiasts alike, Sean Dollinger, the CEO of LQR HOUSE, has unveiled a captivating 7-minute interview with Bjarne Borg, a renowned business partner of basketball legend Michael Jordan. This intriguing collaboration offers valuable insights into the minds of two business powerhouses, providing a rare glimpse into their strategies, visions, and potential implications for the future of LQR HOUSE.

🌟 The moment you've been waiting for is here! 🌟 $LQR CEO sits down with Bjarne Borg to delve into his background, investment strategy, and why he's a proud supporter of LQR House. Watch now !! 🎬🍸

AND Don't forget to do your own research on the record date and ways to… pic.twitter.com/D2gcooahFP
— LQRHouse (@LqrHouse) February 7, 2024

A Meeting of Minds

The interview, which has quickly become a talking point in business circles, showcases a deep dive into the entrepreneurial spirit that drives both Dollinger and Borg. With Dollinger at the helm of LQR HOUSE, a company known for its innovative approach to the market, and Borg’s extensive experience alongside Michael Jordan, the conversation is ripe with potential learnings for anyone interested in business and leadership.

Strategic Insights and Future Visions

While the specifics of the discussion remain a highly anticipated reveal, it’s expected that the interview covers a range of topics, from strategic business decisions to insights into building successful partnerships. The pairing of Dollinger and Borg, each bringing their unique perspectives and experiences, promises to offer valuable lessons on navigating the competitive business landscape.

Implications for LQR HOUSE and Beyond

This interview is not just a momentous occasion for fans of Michael Jordan and followers of Bjarne Borg’s career; it’s also a significant event for stakeholders of LQR HOUSE. Insights from Borg, who has navigated the complexities of high-stakes business environments, could hint at new directions or strategies for Dollinger’s company. Moreover, the association with a figure connected to Michael Jordan’s legendary success adds an intriguing layer of prestige and potential to LQR HOUSE’s future endeavors.

Why This Interview Matters

For those intrigued by the intersection of sports, business, and leadership, this interview is a must-watch. The conversation between Sean Dollinger and Bjarne Borg serves as a powerful reminder of the impact that visionary leaders can have when they share their knowledge and experiences. It’s a unique opportunity to hear from individuals who have been closely associated with excellence and success in their respective fields.

Stay Tuned

As the interview makes its rounds, it’s clear that the insights shared by Dollinger and Borg will resonate well beyond the immediate audience. Whether you’re an aspiring entrepreneur, a business professional, or simply a fan of business, there’s something to be gained from tuning in to this exclusive conversation. The collaboration between LQR HOUSE’s Sean Dollinger and Bjarne Borg, Michael Jordan’s business partner, is a testament to the power of shared wisdom and the endless possibilities that arise when great minds come together.

Keep an eye out for the interview and the potential ripple effects it may have on LQR HOUSE and the broader business community. This is a rare opportunity to gain direct access to the thoughts and strategies of individuals who have reached the pinnacle of success in their respective domains.

🌟 The moment you've been waiting for is here! 🌟 $LQR CEO sits down with Bjarne Borg to delve into his background, investment strategy, and why he's a proud supporter of LQR House. Watch now !! 🎬🍸

AND Don't forget to do your own research on the record date and ways to… pic.twitter.com/D2gcooahFP
— LQRHouse (@LqrHouse) February 7, 2024

DISCLAIMER

PAID ADVERTISEMENT

Lusso’s News, LLC has been compensated $15,000 by a third party for marketing services on behalf of LQR House [NASDAQ: LQR]. This compensation covers the period from January 1, 2024, to April 1, 2024`. In the interest of transparency, it is important to note that Lusso’s News, LLC may receive additional advertising revenue from new advertisers and may collect email addresses from readers, which could be monetized.

Trading

Paul Tudor Jones: Top 5 Trading Quotes and Their Meanings

Published

11 months ago

June 12, 2023

Sir Chartist

Paul Tudor Jones, a legendary hedge fund manager and trader, has shared profound insights and wisdom throughout his career. His quotes encapsulate his deep understanding of the financial markets and offer valuable lessons for traders. In this article, we explore Paul Tudor Jones’ top five trading quotes and their meanings.

“The most important rule of trading is to play great defense, not great offense.”

Jones emphasizes the significance of protecting one’s capital over seeking high returns. He believes that focusing on risk management and minimizing losses should be the primary goal for traders. By playing great defense, traders can safeguard their capital during turbulent market conditions and preserve it for future opportunities.

“Losers average losers.”

Jones advises against the common mistake of adding to losing positions. Averaging down on losing trades can lead to further losses and potentially wipe out an entire investment. Instead, Jones advocates cutting losses quickly and moving on to find better trading opportunities. This quote emphasizes the importance of being disciplined and avoiding emotional attachment to losing trades.

“I believe the very best money is made at the market turns.”

Jones recognizes that significant profits can be made during market turning points. Identifying market reversals and acting swiftly can lead to substantial gains. This quote underscores the importance of being aware of market cycles, studying historical patterns, and having a keen sense of timing to capitalize on lucrative opportunities.

Top Trading Quotes from Jesse Livermore: Pearls of Wisdom from a Wall Street Legend – Lusso’s News (lussosnews.com)

“Don’t focus on making money; focus on protecting what you have.”

Jones emphasizes the need to prioritize capital preservation over chasing profits. Traders should aim to minimize downside risk and protect their existing capital. By focusing on risk management and controlling losses, traders can create a solid foundation for long-term success. This quote highlights the importance of a defensive mindset in trading.

“The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge.”

Jones stresses the significance of continuous learning and staying informed. To succeed in trading, traders must have a relentless thirst for knowledge and a commitment to gathering information about markets, economic trends, and various asset classes. This quote emphasizes the need for traders to stay curious, adapt to changing market conditions, and continuously refine their strategies.

Paul Tudor Jones’ trading quotes offer valuable insights into his trading philosophy and provide guidance for traders seeking success in the financial markets. His emphasis on capital preservation, risk management, timing, knowledge acquisition, and discipline resonates with traders worldwide. By understanding and applying the meanings behind these quotes, traders can improve their decision-making processes and increase their chances of profitability. Paul Tudor Jones’ wisdom serves as a reminder to approach trading with a focus on defense, discipline, and a continuous thirst for knowledge.