YouTube video by Kardec Trader (uploaded Jan 5, 2024) giving practical trading advice: focus on a small set of confluences (only three) to avoid decision paralysis during execution. The speaker illustrates with an example comparing absolute dollar losses versus percentages and emphasizes simple, executable rules ("Just buy, just sell, just go").
And I tell people this about trading, too. If you have a lot of confluences and a lot of things that you have in your trading, look at three and say, what If I had a gun to my head, I can only pick three things to enter and exit. What would those three things be? Because I can give you a confluence of 20 different things that I can look at and justify all of them. But the moment it's time for me to sit in front of a computer and execute, those 20 things are going to mess up my brain. They're going to be like, well, this is saying this. This is saying that, you know? So for me, it's like, what are the three? These three are good. Just. Just buy, just sell, just go. That's it. I know the cost of the trade. It cost me nine grand. And if I go, well, this trade cost me 2%. Where's my current account size? What's 2%? It cost me 9 grand. Boom. I lost 9 grand again. Boom. Okay, I took the 18 grand loss. Damn. Today's not a day. So the numbers just kind of work easier for me. Percentages, like, in the moment, I'm gonna go crazy if I start thinking percentages and all these different things.
