I thought of you when I read this quote from “How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology” by Andrew Aziz – “The first category consists of low float stocks that are priced under $10. These stocks are extremely volatile, moving 10%, 20%, 100% or even 1,000% each day.” Start reading this book for free: https://a.co/flbloS8

“Rule 7: Retail traders trade only Stocks in Play, high relative volume stocks that have fundamental catalysts and are being traded regardless of the overall market.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“If you examine the work of most successful traders, they all take many small losses. Their results are littered with numerous small losses of 7c (cents), 5c, 3c, and even 1c per share. Most good day traders have few losses that are more than 30c per share. Most winning trades should work for you right away.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“There have been times when I’ve been in the trade, had an $ 80,000 position, and all I needed to do was to sell. But as I was looking at my keyboard, I found myself frozen like the proverbial deer in the headlights. I couldn’t even figure out which keys to punch. This sort of paralysis is not unusual when you’re overwhelmed.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/6jUCqga

“Keep a daily record of both your trading results and your physical condition and you will see these relationships for yourself. Begin preventive maintenance by keeping your body, and thus your mind,”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“One of the key contributors to traders’ self-discipline is their physical and mental health. People who eat well-balanced nutritional meals, exercise regularly, maintain proper body weight and fitness levels, and get adequate rest are likely to have the levels of energy and alertness that are required to make them effective traders.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“I am holding around $ 25,000 in my trading account and I usually choose 800 shares to trade. My daily goal is $ 500 or $ 120,000/ year. That is sufficient for my lifestyle. What is your trading goal?”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/2ZfSrKe

I thought of you when I read this quote from “How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology” by Andrew Aziz – “Rule 5: Success in day trading comes from risk management – finding low-risk entries with a high potential reward. The minimum win:lose ratio for me is 2:1.” Start reading this book for free: https://a.co/9Xee8Ge

“One of my favorite trading expressions is “live to play another day”. This simple saying says so much about the mindset of a professional trader. If you survive the learning curve, then the good times will come and you can become a consistently profitable trader.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“From when the market opens at 9: 30 a.m. until around 11: 30 a.m. New York time, is when the market will have the most trading volume and also the most volatility. This is the best time to trade and to especially focus on momentum trading”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/79m0OoM

“The majority of day traders don’t trade penny stocks or on the over-the-counter (OTC) market. Penny stocks are extremely manipulated and they do not follow any of the rules of the standard strategies. We trade real stocks. Sometimes we may be trading Facebook (ticker: FB) and sometimes we may be trading Apple (ticker: AAPL), but we will always be trading the stocks that are having a big day.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“You just want to ensure you are trading stocks that are moving because they have a fundamental reason to move and are not just moving with the overall market conditions: Stocks in Play.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/6mZch8o

“Of the various HFT programs that are currently operating, one of the least effective is the so-called “Buy the New Low” program. When a stock reaches a new intraday low, many day traders will go short to ride the downside momentum. This program then begins to buy the shorts from those day traders to push the price higher. This causes day traders to panic and to cover their shorts. Because the organizations behind HFT programs have almost limitless buying power, the plan sounds flawless. The plan quickly breaks down, however, when another large institutional seller is behind the trade and decides to dump their large positions.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/dhNBlhx

“It is extremely important to stay away from stocks that are being heavily traded by institutional traders. As an individual retail day trader, you must stick to your retail trading territory.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/ip43QAP

“As a retail day trader, you profit from volatility in the market. If the markets are flat, you are not going to make any money; only high frequency traders make money under these circumstances. Therefore, you need to find stocks that will make quick moves to the upside or to the downside in a relatively predictable manner.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/3lxbH0E

“But if you short sell that company at $ 5 and then the price, instead of going down, starts going higher and higher, then there won’t be any limit to your loss. The price may go to $ 10, $ 20, or $ 100, and still there will be no limit to your loss. Your broker wants those shares back. Not only can you lose all of the money in your account, but your broker can also sue you for more money if you do not have sufficient funds to cover your shorts.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/67NJwwm

“Day traders can borrow shares from their broker and sell them, hoping that the price will go lower and that they can then buy those shares back at a lower price and make a profit. This is called selling short, or simply short.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
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“overall, in my opinion, the most common reason that people fail in day trading is that they do not regard it as a serious business. They instead treat it as a form of gambling that will quickly and easily make them rich.”

— How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology by Andrew Aziz
https://a.co/2JoAPYJ

“Which books came up the most Here are…

“Which books came up the most? Here are the top 17—everything with 3 or more mentions—in descending order of frequency:

Tao Te Ching by Lao Tzu (5 mentions)
Atlas Shrugged by Ayn Rand (4)
Sapiens by Yuval Noah Harari (4)
Siddhartha by Hermann Hesse (4)
The 4-Hour Workweek by Tim Ferriss (4)
The Checklist Manifesto by Atul Gawande (4)
Dune by Frank Herbert (3)
Influence by Robert Cialdini (3)
Stumbling on Happiness by Daniel Gilbert (3)
Superintelligence by Nick Bostrom (3)
Surely You’re Joking, Mr. Feynman! by Richard P. Feynman (3)
The 4-Hour Body by Tim Ferriss (3)
The Bible (3)
The Hard Thing About Hard Things by Ben Horowitz (3)
The War of Art by Steven Pressfield (3)
Watchmen by Alan Moore (3)
Zero to One by Peter Thiel with Blake Masters (3)”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/2h5LRTr

“For would be entrepreneurs he calls them “wantrapreneurs”…

“For would-be entrepreneurs (he calls them “wantrapreneurs”), or entrepreneurs who’ve grown a little too comfortable, Noah has a recommendation—ask for 10% off of your next few coffees. “Go up to the counter and order coffee. If you don’t drink coffee, order tea. If you don’t drink tea, order water. I don’t care. Then just ask for 10% off. . . . The coffee challenge sounds kind of silly, but the whole point is that—in business and in life—you don’t have to be on the extreme, but you have to ask for things, and you have to put yourself out there.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/73NXa96

“To be a successful creator you don’t need…

“To be a successful creator, you don’t need millions. You don’t need millions of dollars or millions of customers, clients, or fans. To make a living as a craftsperson, photographer, musician, designer, author, animator, app maker, entrepreneur, or inventor you need only 1,000 true fans.”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/671cltP

“I remember walking out of the station around…

“I remember walking out of the station around midnight. It was up on the top of this mountain, a beautiful place. I remember looking out and just saying, ‘Oh, my God, when am I going to like this? When am I going to really be happy with the work that I’m churning out?’ I look back on that all the time . . . if I could go back and just tell myself, ‘Don’t stress about it, it’s all going to work out in the end.’”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/bNIHxAb

““If I’ve learned anything from podcasting it’s don’t…

““If I’ve learned anything from podcasting, it’s don’t be afraid to do something you’re not qualified to do.” TF: This is a common thread throughout this book. Kamal Ravikant, Naval Ravikant’s (page 546) brother, told me how Naval once said to him (paraphrased): “If I had always done what I was ‘qualified’ to do, I’d be pushing a broom somewhere.” As I’ve also heard said, “Amateurs built the Ark, professionals built the Titanic.” Dan preemptively disarms potential criticism of his credentials by saying in nearly every episode, “Keep in mind that I’m no historian, but . . .””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/cyypmw7

“*From Time Enough for Love “A human being…

“*From Time Enough for Love: “A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/iKPs1bF

“TF Chase and I share many philosophies including…

“TF: Chase and I share many philosophies, including this one. I didn’t accept advertisers for the podcast until I had 100K + downloads per episode, as measured at the industry-standard 6 weeks post-publication. Why? Novice podcasters (which I was), bloggers, and artists of all types get too distracted in nascent stages with monetization. For podcasting: In the first 3 to 9 months, you should be honing your craft and putting out increasingly better work. “Good content is the best SEO,” as Robert Scoble originally told me.”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/1THKojl

““I think we need to teach kids two…

““I think we need to teach kids two things: 1) how to lead, and 2) how to solve interesting problems. Because the fact is, there are plenty of countries on Earth where there are people who are willing to be obedient and work harder for less money than us. So we cannot out-obedience the competition. Therefore, we have to out-lead or out-solve the other people. . . .”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/62h4x27

““What could possibly be more important than your…

““What could possibly be more important than your kid? Please don’t play the busy card. If you spend 2 hours a day without an electronic device, looking your kid in the eye, talking to them and solving interesting problems, you will raise a different kid than someone who doesn’t do that. That’s one of the reasons why I cook dinner every night. Because what a wonderful, semi-distracted environment in which the kid can tell you the truth. For you to have low-stakes but superimportant conversations with someone who’s important to you.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/hxKXwRp

“I like to study what Seth doesn’t do…

“I like to study what Seth doesn’t do as much as what he does. Seth has no comments on his blog, he doesn’t pay attention to analytics, and he doesn’t use Twitter or Facebook (except to rebroadcast his daily blog posts, which is automated). In a world of tool obsession and FOMO (fear of missing out) on the next social platform, Seth doesn’t appear to care. He simply focuses on putting out good and short daily posts, he ignores the rest, and he continues to thrive. There are no real rules, so make rules that work for you.”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/9tmMiom

“In Money Master the Game Ray Dalio elaborated…

“In Money: Master the Game, Ray Dalio elaborated for Tony: “When people think they’ve got a balanced portfolio, stocks are three times more volatile than bonds. So when you’re 50/ 50, you’re really 90/ 10. You really are massively at risk, and that’s why when the markets go down, you get eaten alive. . . . Whatever asset class you invest in, I promise you, in your lifetime, it will drop no less than 50% and more likely 70% at some point. That is why you absolutely must diversify.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/dGJJZAv

“Asymmetrical risks and rewards “Every single one of…

“Asymmetrical risks and rewards: “Every single one of them is obsessed with asymmetrical risk and reward. . . . It simply means they’re looking to use the least amount of risk to get the max amount of upside, and that’s what they live for. . . . [They don’t believe they] have to take huge risks for huge rewards. Say, ‘How do I get no risk and get huge rewards?’ and because you ask a question continuously and you believe [there’s an] answer, you get it.” TF: Here’s a wild example. Kyle Bass at one point”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/4eQW1qN

“In Losing My Virginity which had a huge…

“In Losing My Virginity, which had a huge impact on me around college graduation, he described his very first flight: “We were trying to catch a flight to Puerto Rico, but the local Puerto Rican scheduled flight was canceled. The airport terminal was full of stranded passengers. I made a few calls to charter companies, and agreed to charter a plane for $ 2,000 to Puerto Rico. I divided the price by the number of seats, borrowed a blackboard, and wrote virgin airways: $ 39 single flight to puerto rico. I walked around the airport terminal and soon filled every seat on the charter plane. As we landed in Puerto Rico, a passenger turned to me and said: ‘Virgin Airways isn’t too bad—smarten up the service a little and you could be in business.’””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/fhazkWb

“As Tony recounted Buffett told him “Investing in…

“As Tony recounted, Buffett told him, “Investing in yourself is the most important investment you’ll ever make in your life. . . . There’s no financial investment that’ll ever match it, because if you develop more skill, more ability, more insight, more capacity, that’s what’s going to really provide economic freedom. . . . It’s those skill sets that really make that happen.” This echoes what Jim Rohn famously said, “If you let your learning lead to knowledge, you become a fool. If you let your learning lead to action, you become wealthy.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/8QRG3sk

“Matt is one of the people I most…

“Matt is one of the people I most try to emulate. He is exceptionally calm and logical under pressure. I’ve seen him face multiple data-center collapses with near-indifference, calmly sipping beer before another billiards shot. What should I tell a hugely influential journalist asking about it? “Tell him we’re on it.” Then he sunk another ball. He’s the epitome of “getting upset won’t help things.” I frequently ask myself “What would Matt do?” or “What would Matt say to me?””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/aFJqExC

“TO BE CLEAR Block out at 2 to…

“TO BE CLEAR: Block out at 2 to 3 HOURS to focus on ONE of them for today. This is ONE BLOCK OF TIME. Cobbling together 10 minutes here and there to add up to 120 minutes does not work. No phone calls or social media allowed.”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/4LZer0v

“TO BE CLEAR Block out at 2 to…

“TO BE CLEAR: Block out at 2 to 3 HOURS to focus on ONE of them for today. This is ONE BLOCK OF TIME. Cobbling together 10 minutes here and there to add up to 120 minutes does not work. No phone calls or social media allowed.”

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/66qLa9A

““My recommendation is to do little tests Try…

““My recommendation is to do little tests. Try a few months of living the life you think you want, but leave yourself an exit plan, being open to the big chance that you might not like it after actually trying it. . . . The best book about this subject is Stumbling on Happiness by Daniel Gilbert. His recommendation is to talk to a few people who are currently where you think you want to be and ask them for the pros and cons. Then trust their opinion since they’re right in it, not just remembering or imagining.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/gkkJQCT

““Because most of us say yes to too…

““Because most of us say yes to too much stuff, and then, we let these little, mediocre things fill our lives. . . . The problem is, when that occasional, ‘Oh my God, hell yeah!’ thing comes along, you don’t have enough time to give it the attention that you should, because you’ve said yes to too much other little, half-ass stuff, right? Once I started applying this, my life just opened up.””

— Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss
https://a.co/bdUR4yq