"People who opened the door to the dimension" ✨HERE and NOW ✨".
⚡️7 tips for successful trading from Larry Williams.⚡️ 🔜🔻
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1) Doubt comes from being overwhelmed with fear. You have to prove that your system works, if you can prove it, it will be much easier to stick to it.
2) Place stop losses not according to the market, but according to your own system. If you feel that something is not going according to plan, then stop using it.
3) When the market begins to squeeze into a channel and there is no room for significant volatility, i.e. the channel becomes very narrow and small, a trend reversal is imminent. A close above or below the channel is the best indicator.
4) News trading is not a reliable source for trading, I don't attach any importance to it. I only look at my charts and indicators.
5) Question: How to understand the intentions of major players; when are they bluffing or playing for real? And what to focus on in such a game?
Answer: I don't think they're bluffing, I don't think they're really playing, I think there are a bunch of «scribblers» who say people move the market. 🔻
I know these people, I've been in the market for over 50 years, I've known some of the biggest traiders
in the history of the world - my best friends. They don't play the market that way.🔻
It doesn't mean that someone can't try to do it at some point, but it's like an enduring phenomenon. 🔻
I think the people who write this are trying to piss you off, make you paranoid in the market, thinking "they" versus "me" instead of thinking about what the market is doing, that's what really matters. 🔻
You must trade what is in front of you. Not all this gossip, not news, not ideas. Pay attention to your markets.
7) Question: Larry, how did you make 1.1 million out of 10,000? Answer: I was completely focused on what I was doing, and perhaps more importantly, I used a very, very aggressive form of money management. 🔻
If you want to make a lot of money, you must increase your risk, but remember that if you increase your risk, it means that at the same time you increase the likelihood of losing money. 🔻
These are two sides of the coin, this is a double-edged sword, so I want to advise if you want to have big money, make small bets! 💫Good luck and good trading! ✨This post is based on this twitter thread.