⁦this is fintiwits in a tweet: ⁦@1ChartMaster⁩ Makes a watch list. Someone then wants him do the work for him. If you can’t find the time to do your own homework you’re not going to make it in this game

Stop over trading and focus on the best charts. Patience it only takes pushing the button one time to buy right. Sniper mindset.

Martin Luk (@martinlukkt) returned +283% in @USICOfficial 2024. An impressive performance for anyone, and certainly for a 22-year-old who’s 4 years into his trading journey! Along the way, he’s learnt many lessons. Just sharing the lessons is one thing. Telling them through his stories and experiences hits 10x harder. (Personally, I think Martin is a natural storyteller and a remarkable young man.) *** “Two bad months ruined my whole year [2022].” “In late May [2023], I realised +80% on a trade in $CVNA, setting a new all-time high in my P&L. This was my ‘aha’ moment in trading. I realised my trading can actually make progress. This gave me confidence and I slowly developed sit-out power.” “Setting tighter stops has two big benefits: 1. Limited psychological barrier to taking and accepting losses. This means I can disregard losses and seek re-entry right after getting stopped out. […] 2. A tighter stop can exponentially improve risk���reward.” “When you tighten your stop by 50%, R also increases by 50%. But the higher the return, the larger the absolute increase in R. By tightening your stop from 3% to 1.5%, you can gain an 8.34R advantage on a trade with a 25% return, and a 25R advantage on a trade with a 75% return.” “I focused too much on the instant impact and failed to think about long-term growth. One day, I was daydreaming, trying to imagine how my trading would look after 10 or 20 years. I suddenly realised that if I truly want to become consistently profitable, trade for the rest of my life, and manage a much larger account, I cannot make those simple mistakes and ruin my account again.” “If I keep overtrading now, I will still overtrade in the future, no matter how experienced I become or how big my account grows. In that moment, I shifted my focus from short-term to long-term, and the urge to overtrade went away.” “Knowing how hard it’d be to recover from a huge drawdown again, and seeing the many random trades in my journal I could’ve easily avoided, I told myself I couldn’t afford to trip over the same stone twice. So, I reduced my position sizes and started small (progressive exposure). The result was consecutive best-performing months that significantly contributed to my outperformance last year.” “It takes hundreds or thousands of trades to get rich, and only one trade to go bust.” *** I can’t tell you how excited I am for this one: The 22-Year-Old Who Returned 283% in USIC 2024 Martin Luk’s key lessons from 2024 and his journey to date 🔗