10 Charts on $AAPL (Apple Inc): Price Action and Technical Analy
And today I've chosen this tiny excerpt from Jesse Livermore.
Why?
Because there's an obvious lesson in trading that beginners and intermediate traders fail to grasp which needs to be conveyed and underlined as often as possible. Even pro traders ought to be reminded of it every now and then.
It goes like this:
In trading there is no holy grail. Stop looking for it.
No black box will ever earn you an immaculate track record with no losses. No even close.
If you have serious intentions for your trading journey, perhaps the name of the author of the simple quote I brought you sounds familiar. Jesse Livermore is arguably the greatest trader of all time. And even the almighty Jesse Livermore acknowledges that had ups and downs.
Even the almighty Jesse Livermore could not accurately predict what a stock or commodity was about to do.
What makes you think you can come up with an unbeatable system of 100% winners?
What makes you think that if you just find that secret sauce, that secret combination, you'll be able to crack the market and win all the time?
What makes you think the market is crackable?
The fact that nowadays there's so much information about any stock?
The massive indoctrination promoted by the finance industry?
The size of the whole financial apparatus and the ties of the economists along with their complex theories?
The fact that you command technical analysis and are able to read a chart, which gives you an illusion of control?
Forget it. You're heading in the wrong direction.
Jesse Livermore's brings me to another point. He was a winner on balance.
Yes. Although there is no certainty about what the markets will do tomorrow, next week or next month ... leaving you with the obvious impossibility of keeping a clean sheet of winners ... There are instead price behaviors that tend to happen more often than not and which tend to manifest over the long run.
What does that leave you with?
Do not focus on the unwinnable and exhausting adventure on the pursuit of a perfect trading system.
Focus instead on understanding which imperfect yet profitable system, resembling your personal features, works more often than not. And then focus on executing it autistically and creating the conditions to execute it. Namely making sure your trading account stays alive, that your bets are not high enough to kill it in case of a loss or a sequence of losses, while they remain big enough to allow you to profit from the randomness that the markets offer ... over the long run.
Aside from these reminiscences, today I brought you the price action analysis of $AAPL. Monthly time frame, in line with my work and personal bias.
Enjoy!
Link in bio for full analysis.
Why?
Because there's an obvious lesson in trading that beginners and intermediate traders fail to grasp which needs to be conveyed and underlined as often as possible. Even pro traders ought to be reminded of it every now and then.
It goes like this:
In trading there is no holy grail. Stop looking for it.
No black box will ever earn you an immaculate track record with no losses. No even close.
If you have serious intentions for your trading journey, perhaps the name of the author of the simple quote I brought you sounds familiar. Jesse Livermore is arguably the greatest trader of all time. And even the almighty Jesse Livermore acknowledges that had ups and downs.
Even the almighty Jesse Livermore could not accurately predict what a stock or commodity was about to do.
What makes you think you can come up with an unbeatable system of 100% winners?
What makes you think that if you just find that secret sauce, that secret combination, you'll be able to crack the market and win all the time?
What makes you think the market is crackable?
The fact that nowadays there's so much information about any stock?
The massive indoctrination promoted by the finance industry?
The size of the whole financial apparatus and the ties of the economists along with their complex theories?
The fact that you command technical analysis and are able to read a chart, which gives you an illusion of control?
Forget it. You're heading in the wrong direction.
Jesse Livermore's brings me to another point. He was a winner on balance.
Yes. Although there is no certainty about what the markets will do tomorrow, next week or next month ... leaving you with the obvious impossibility of keeping a clean sheet of winners ... There are instead price behaviors that tend to happen more often than not and which tend to manifest over the long run.
What does that leave you with?
Do not focus on the unwinnable and exhausting adventure on the pursuit of a perfect trading system.
Focus instead on understanding which imperfect yet profitable system, resembling your personal features, works more often than not. And then focus on executing it autistically and creating the conditions to execute it. Namely making sure your trading account stays alive, that your bets are not high enough to kill it in case of a loss or a sequence of losses, while they remain big enough to allow you to profit from the randomness that the markets offer ... over the long run.
Aside from these reminiscences, today I brought you the price action analysis of $AAPL. Monthly time frame, in line with my work and personal bias.
Enjoy!
Link in bio for full analysis.