I am a big fan of stocktwits.com. Having a network of people is helpful. Having a specific network is most helpful. Being able to filter a specific network is indispensable. Being able to follow individuals and stocks is similar to being able customize your screen space. Over time you figure out what works for you. Add and subtract and add again. I am still in the beginning but here is how I am currently using ST.
My morning routine now includes scanning tickers, I start with $MACRO and from there I the daily and hourly top trending tickers. As micro term opportunist I am less focused on the big picture but I use “common points”. If you are not at an exchange it is hard to understand what other people are seeing as common points. It is also very hard if you are at an exchange. Stocktwits categorizes it for you. I also look at the $ES_F throughout the trading day.
I contribute and use the $Study hash tag. It has been a place of great resource. I can’t wait till there is a way to subscribe to all links from a specific hashtag. They are constantly iterating and I am sure it is somewhere on their list. Learning is very important, like golf, learning is not a game you win it is a game you play. ST makes it easier. Getting multiple points of view is essential for strengthening or weakening your view, finding an equilibrium.
Phil Pearlman’s Market Shrinkology is a much watch. Howard Lindzon and Tadas Vinkanta also produces some great interviews across many different topics. There are several others that I hear people talking about but I have not had a chance to watch. For a full list check out stocktwits.tv.
There are not many people who can relate to trading professionally. We are a small fraternity. It is important to move the conversation from your head to stocktwits or paper or any place. Just get it out, if you are fortunate to have someone ask you to further explain it, you should embrace it. It is the age old question, if you have a thought but no one hears it, is it really a thought? Whether you realize it or not, we are all going through the same things. I have the benefit of a strong network and part of that has been built through ST.
When I struggle it is because of pace of trades and discipline. Posting my trades to ST has been a distraction. When I had an online trading room I could speak it and then type it. I have mostly stopped posting trades because I have to be aggressive at times. It is hard to be both aggressive and post trades. Above anything, I do not want to be the hindsight trader. My position would sometimes be different than I was posting. Not direction but in size. Keeping track of the two added to the distraction.
So back to the reasons I generally struggle. Pace of trades and discipline. After not trading very well for a few days because of the pace of trades. I went back to posting the trades for a day. It forced me to slow down. A big part of trading is being aggressive when your strategy is clicking. For multiple reasons, my vision was off. I was aggressive at the wrong places. I needed to slow down, what I saw as a problem posting trades became a positive. I slowed down and was able to regain my vision. ST forced me to slow down.
A ST helped me see I was not being disciplined, I posted “I needed to take a break”. I didn’t. I took a trade almost immediately afterwards. It was a nice winner. @mangist responded “Time for a 4 minute break?” At the time, I was just happy to make money and be done for the day. I subconsciously put that in the good behavior category. I made some smart ass comment about 4 minutes is a long time when you only trade a few hours. It was a clear violation of rules and without @mangist I would have be more prone to do it again as I got positive feedback, winning.
I look forward to seeing how ST evolves and how I evolve around it. I am in the beginning stages but it is off to a good start. You can find me on ST here.
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