Thread by @TraderMagus, Random edu thread Environment recognition is one of the most underrated skills [...]

Magus

TraderMagus

Random edu thread

Environment recognition is one of the most underrated skills a trader can have

This applies to macro & micro

The market is either trending or rangebound

Learn to identify this and deploy a strategy based on this knowledge

Toolset

Over time on twitter you see the herd move from tool to tool hoping to find what they think they& #39;re missing

Pro tip: You aren& #39;t missing anything

What you use to make decisions matters not

What does matter?

That you are comfortable with the tool and understand how it works

Screen time and backtesting is key

Screen time helps you find things of interest

Backtesting confirms or denies the idea & allows you to make data backed decisions

Idolize no man

Us humans are herd animals, we are instinctually more comfortable following others

Just because that alpha sounds smart doesn& #39;t mean he& #39;s worth following

Learn to think for yourself

Backtesting as previously mentioned will build your confidence

If you& #39;re doing better now than ever before, don& #39;t attribute it to your own skill

The market is giving us more opportunity than normal

Take the money & stay humble

Build out a robust system that can survive on many markets & time frames

You can follow @TraderMagus.

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