BTCTrading

Introduction

Primarily, I identify as a trader. The genesis of this website stems from the imperative to centralize the knowledge I've acquired through my trading endeavors. Recognizing a genuine need for practical, no-nonsense trading information applicable to the market, as opposed to theoretical musings, was the catalyst for this initiative. I firmly believe that offering assistance to others in their journey concurrently benefits oneself.

The Realities of Trading

Essentially, a trader must adeptly discern the market's trend direction across various time frames relevant to their trading objectives. However, this task is often fraught with ambiguity. Successful trading requires embracing and thriving in the face of this ambiguity.

While certain setups and signals may prove effective for a handful of accomplished traders, they prove futile for most aspiring ones. Why? Because they do not constitute the essential components of the trading process. Successful traders leveraging setups and signals have already crafted a mental map of market behavior, identifying the market's conditions and trends across relevant time frames.

The primary reason most traders experience losses is their resistance to embracing uncertainty. Attempting to convert the inherent uncertainty of market behavior into a foolproof system with rigid rules is a common pitfall. It's your comprehension of the market's trend that transforms setups and signals into high-probability, profitable trades. Standalone setups and signals lack the depth provided by personal judgment, missing a crucial element.

Trading is about being comfortable with ambiguity, tolerating confusion, and accepting discomfort. It's about not having an exact script for when to trade, tolerating exceptions to rules, and confronting uncertainty head-on. Despite the desire for simplicity and certainty, the market thrives on complexity, uncertainty, and ambiguity. Simplistic setups cannot encapsulate these dynamics, nor can they provide a lasting, genuine edge.

Mastering the Art of Speculation

Contrary to the belief held by many, including most economists, that speculation lacks skill and success is merely luck, I contend that successful speculators possess a discernible skill. Although not easily teachable, their skill lies in the ability to sense the shifting direction of the speculative crowd, akin to a flock or herd, precisely as this change begins.

Alternative Approach: What to Do If You Avoid Speculation?

Consider delving into William Bernstein's book "The Four Pillars of Investing" and adhering to the guidance within. Bernstein, an authoritative voice in the field, shares valuable insights both in his book and on his website. In essence, my advice is to refrain from speculation and instead follow William Bernstein's counsel for sound investment management.

Resources

Short List of Investing Books

This list is not exhaustive; rather, it comprises "interesting" books that will reward readers for the time spent. While some "classic" and "important" books may be missing, they did not align with the intended purpose.

How to Lie with Statistics

Darrell Huff, 1954, W. W. Norton and Company - A classic book on how numbers can be used to deceive.

Statistical Analysis: An Interdisciplinary Approach to Univariate and Multivariate Analysis

Sam Kash Kachigan, Radius Press, 1986 - A great book for traders/analysts seeking a rigorous understanding of their work.

Quantitative Techniques for Financial Analysis

Jerome Valentine and Edmund Mennis, The Financial Analysts Research Foundation, 1980 - The best basic book on quantitative techniques I have encountered.

Extraordinary Popular Delusions and the Madness of Crowds

Charles Mackay, 1841, Reprinted by many companies - A fabulous survey of crowd behavior, including accounts of great manias. Be sure not to miss the non-financial material.

The Profit Magic of Stock Transaction Timing

J. M. Hurst, Prentice Hall, 1970, Reprinted by Trader's Press, 2000 - The first mention of trading bands/envelopes and an important book on cycles.

About

• Simplicity In Trading - My motto for trading is simplicity. While others complicate it, trading is a simple endeavor at its core, reflecting the perceived value at any given moment.
• Comprehensive and Different - I approach trading in a way that prioritizes traders first, with the business thriving as a result. It has been an amazing experience.
• Straight Talk - I refrain from recruitment or sales, focusing solely on trading and managing my business.
• Karma, Legacy, and the Flow of Prosperity - I believe in abundance and giving back. My involvement with the online trading community and my drive to build tools and services are centered on helping traders. If I can leave a legacy of assistance and sharing, I consider that a success.
• An Army of Mimes - Instead of being mimicked, I encourage readers to consider and tweak my ideas for themselves.

Contact

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