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#41
Open OverWise board / Re: Trading rules
Last post by Henrik Ekenberg - Jul 25, 2024, 09:21 AMTo conquer the market, organization and precision are essential. It's important to establish a structured approach and adhere to it consistently
Longer post : https://overwi.se/forum/index.php?topic=160.0
Longer post : https://overwi.se/forum/index.php?topic=160.0
#42
Open OverWise board / Trading rules
Last post by Henrik Ekenberg - Jul 24, 2024, 11:17 AMRegardless of a trade's potential, it's difficult to prosper if the market conditions are unfavorable
Longer post : https://overwi.se/forum/index.php?topic=158.0
Longer post : https://overwi.se/forum/index.php?topic=158.0
#43
Open OverWise board / Six Things Mentally Strong Peo...
Last post by Henrik Ekenberg - Jul 24, 2024, 10:54 AM- They move on. They don't waste time feeling sorry for themselves.
- They embrace change. They welcome challenges.
- They stay happy. They don't waste energy on things they can't control.
- They are kind, fair, and unafraid to speak up.
- They are willing to take calculated risks.
- They celebrate other people's success. They don't resent that success.
#44
Open OverWise board / Read IBD Stock charts
Last post by Henrik Ekenberg - Jul 22, 2024, 04:34 PMRead IBD Stock charts
#45
Open OverWise board / Reading List
Last post by Henrik Ekenberg - Jul 22, 2024, 02:33 PM- Trade Like a Stock Market Wizard by Mark Minervini
- Think and Trade Like a Champion by Mark Minervini
- Mindset Secrets for Winning by Mark Minervini
- All of the books by William O'Neil
- All of the Market Wizards books by Jack Schwager
- How to Trade in Stocks by Jesse Livermore
- Superperformance Stocks by Richard Love (if you can find it)
- How Charts Can Help You in the Market by William Jiler
- How I Made $2,000,000 Dollars in the Stock Market by Nicolas Darvas
- Momentum Masters edited by Bob Weissman
#46
Open OverWise board / Cut losses....
Last post by Henrik Ekenberg - Jul 22, 2024, 11:06 AMCutting losses is crucial in trading to prevent larger, potentially devastating financial setbacks.
This strategy ensures that losses remain manageable and do not disproportionately impact your overall portfolio. By setting limits on losses, traders can preserve capital and remain in the market longer, allowing for future opportunities to recover and achieve gains.
It's about protecting against the downside to fight another day, ensuring that no single trade can significantly harm your financial health.
This strategy ensures that losses remain manageable and do not disproportionately impact your overall portfolio. By setting limits on losses, traders can preserve capital and remain in the market longer, allowing for future opportunities to recover and achieve gains.
It's about protecting against the downside to fight another day, ensuring that no single trade can significantly harm your financial health.
#47
Open OverWise board / Add image to forum use : image...
Last post by Henrik Ekenberg - Jul 22, 2024, 09:47 AMHi,
You often need to resize the image to post it here - Max 128 kb -.
I use https://imageresizer.com/
You often need to resize the image to post it here - Max 128 kb -.
I use https://imageresizer.com/
- Select image
- Select JPG in "Save image As"
- In "Target File Size" use 128 KB
- Do resize image then save the file to your computer
#48
Open OverWise board / 20 trading acronyms along with...
Last post by Henrik Ekenberg - Jul 16, 2024, 02:23 PM- TA - Technical Analysis
- FA - Fundamental Analysis
- BMO - Before Market Close
- AMC - After Market Close
- ITM - In The Money
- OTM - Out Of The Money
- ATM - At The Money
- HOD - High Of Day
- EOD - End Of Day
- ER - Earnings Report
- BO - Breakout
- SR - Support/Resistance
- ROA - Return On Assets
- NAV - Net Asset Value
- P/E - Price-to-Earnings Ratio
- ROE - Return On Equity
- YTD - Year-To-Date
- WC - Working Capital
- ROI - Return On Investment
- BAR - Breakout And Retest
#49
Open OverWise board / Re: Welcome to the hardest gam...
Last post by Henrik Ekenberg - Jul 16, 2024, 01:57 PMThe Critical Need for Preparation in Speculation
Lawyers, doctors, engineers, and other professionals who achieve success spend anywhere from two to five years studying and preparing to practice their profession before they begin making any money.
Yet, men enter into speculation in Wall Street without any preparation. They have made no study of it whatsoever. They try to deal in something they know nothing about. Is it any wonder then that they lose?
The Pitfalls of Guesswork and Rumors
Speculators and investors who simply guess, follow tips, rumors, newspaper talk, and so-called "inside information" have no chance of ever making a success. Without a solid foundation of knowledge and strategy, they are bound to fail.
The Importance of a Well-Defined Plan
Unless they follow a well-defined plan based on Science and Supply and Demand, they are sure to lose. Success in speculation, like any profession, requires diligent study, preparation, and the application of sound principles.
Conclusion
Entering the world of speculation without proper preparation is a recipe for failure. Just as professionals spend years honing their skills before seeing any returns, aspiring traders must invest time in learning, developing a strategy, and understanding the markets. Guesswork and following the crowd will not lead to success. Only those who approach trading with the seriousness it deserves, backed by a well-defined plan, will have a chance at achieving long-term success in the markets.
Lawyers, doctors, engineers, and other professionals who achieve success spend anywhere from two to five years studying and preparing to practice their profession before they begin making any money.
Yet, men enter into speculation in Wall Street without any preparation. They have made no study of it whatsoever. They try to deal in something they know nothing about. Is it any wonder then that they lose?
The Pitfalls of Guesswork and Rumors
Speculators and investors who simply guess, follow tips, rumors, newspaper talk, and so-called "inside information" have no chance of ever making a success. Without a solid foundation of knowledge and strategy, they are bound to fail.
The Importance of a Well-Defined Plan
Unless they follow a well-defined plan based on Science and Supply and Demand, they are sure to lose. Success in speculation, like any profession, requires diligent study, preparation, and the application of sound principles.
Conclusion
Entering the world of speculation without proper preparation is a recipe for failure. Just as professionals spend years honing their skills before seeing any returns, aspiring traders must invest time in learning, developing a strategy, and understanding the markets. Guesswork and following the crowd will not lead to success. Only those who approach trading with the seriousness it deserves, backed by a well-defined plan, will have a chance at achieving long-term success in the markets.
#50
Open OverWise board / Welcome to the hardest game in...
Last post by Henrik Ekenberg - Jul 16, 2024, 01:47 PMA Sobering Reality Check: The True Nature of the Trading Game
Unfortunately, you're playing with some of the sharpest, fastest, most intelligent, well-informed, stubbornly irrational, and in many cases, unethical minds in the world.
You're up against the computer that can react faster than you. The trader who has more experience than you. The fund that has more money than you. The insider that has more information than you. The others that will misinform you. The inner voice that will do its best to undo you.
So, leave all your dreams of making quick and easy money behind.
The First Aim is Survival
Your absolute first goal is to learn how to stay in the game.
You can only do this by mapping the territory. By understanding how the enemy thinks and acts. By having a solid game plan. And by picking your battles very, very carefully.
Ready to Play?
To survive and eventually thrive in this game, you need to shed any illusions of easy money. Instead, focus on building a foundation of knowledge, discipline, and strategy. This isn't just about making trades; it's about outlasting and outthinking some of the most formidable competitors you'll ever face. Are you ready to take on the challenge with the seriousness it demands? It's time to prepare, strategize, and execute with precision. The game is on.
Unfortunately, you're playing with some of the sharpest, fastest, most intelligent, well-informed, stubbornly irrational, and in many cases, unethical minds in the world.
You're up against the computer that can react faster than you. The trader who has more experience than you. The fund that has more money than you. The insider that has more information than you. The others that will misinform you. The inner voice that will do its best to undo you.
So, leave all your dreams of making quick and easy money behind.
The First Aim is Survival
Your absolute first goal is to learn how to stay in the game.
You can only do this by mapping the territory. By understanding how the enemy thinks and acts. By having a solid game plan. And by picking your battles very, very carefully.
Ready to Play?
To survive and eventually thrive in this game, you need to shed any illusions of easy money. Instead, focus on building a foundation of knowledge, discipline, and strategy. This isn't just about making trades; it's about outlasting and outthinking some of the most formidable competitors you'll ever face. Are you ready to take on the challenge with the seriousness it demands? It's time to prepare, strategize, and execute with precision. The game is on.