Host of The Words of Rizdom Podcast & @chartfanatics The #1 Trading Podcast In The World 👇
Joined October 2021
- Tweets23.2K
- Following882
- Followers96.5K
- Likes29.4K
Pinned Tweet
AI Algorithms Are Playing A Game Most Retail Traders Don’t Even Understand🚨
Trading veteran Michael Filighera joins us on the podcast to share nearly five decades of experience across global markets, revealing how trading algorithms operate and why understanding them is becoming increasingly important.
In this episode, you’ll learn:
• How Algorithms Are Impacting The Markets
• The 3 Essential Rules For Trading Profitably
• Why Having A Clear Entry, Target & Stop Is Crucial
• How AI Is Changing The Future Of Trading
• Lessons From 47 Years In The Markets & So Much More
Full Episode👇
The World’s BEST Stock Trader with 1499% Returns Over JUST 2 Years Reveals ALL!
2 x World Trading Champion @JLawStock joins Words of Rizdom to share his exact journey to World Class Results.
In this episode you will learn:
• How J Law Started His Trading Career
• Coming Back From Huge Drawdowns
• His Exact Process of Finding & Managing Trades
• How He Uses AI within His Trading
• The Psychology of Trading Profitably & So Much More!
Tomorrow 3pm GMT this full episode will be available on YouTube.
This episode has been professionally dubbed into English, Cantonese, Mandarin & Arabic 🤝
Riz Iqbal retweeted
Brian Stonk has made $2 million in prop firm payouts in 3 years. He still drives the car he had in high school.
He left his engineering degree with one year to go. In his first 6 months of prop trading, he was $10,000 to $20,000 down.
What turned it around:
• He tracks what he spends vs what he gets paid. His goal is 5x. He is around 10x
• He added a second account only after a payout
• After a payout, he takes small wins instead of trying to grow the account fast
• 3 losses in a row means he is reading the market wrong that day
• The urge to win it back with one big trade gets written down, not traded
Riz Iqbal retweeted
If you can't explain your entry in one sentence, it's worth asking whether you need all those extra rules.
Riz Iqbal retweeted
Trader Mayne has made over $10 million trading forex and crypto.
His entry is simple: price sweeps liquidity, then breaks structure.
He told us most of these concepts are made complicated on purpose.
A complicated strategy is easier to sell than to trade.
Riz Iqbal retweeted
1. Use one fixed stop.
Every Nasdaq trade gets a 10 point stop. The stop is the only part of a trade he fully controls, so it never moves.
"Be right or be right out."
Riz Iqbal retweeted
Okala has taken over $5 million in prop firm payouts and runs around 76 funded accounts.
He didn't start with 76. He started with one.
His process, in 5 steps:
Riz Iqbal retweeted
Watch the trade: youtube.com/shorts/L_miQ7hcw…
Riz Iqbal retweeted
One of our traders took the same Gold trade on two accounts.
Account 1: the usual 1 to 3 target.
Account 2: a bigger target, just under 1 to 5.
Both targets hit. Then price kept running.
Same entry, two plans.
One target or more?
Riz Iqbal retweeted
🧠 The version of you that panics on a bad trade is only one version of you.
Trading psychologist Rande Howell borrows an idea from quantum mechanics to explain this
In his view reality starts as potential
The one observing it is what gives it shape
That is how a self is formed, the person you think you are
His process has two steps
First, regulate your emotions so they do not wipe you out
Then build mindfulness, so you can look inside and notice what is happening
That is when you start to see it
The "me" you were a moment ago is just one way your self can be organized
There are many others
For Rande that is a reason for hope
It means you can build a trading mind that works much better than the one you started with
You are not stuck with the trader you are today
More from Rande in the first reply
Riz Iqbal retweeted
"You can trust your backtest. You cannot trust a feeling."
That is how Gianluca Bruni thinks about every strategy he trades
For him backtesting is the proof
It tells you if what you are doing actually makes money
So he takes it very seriously
Many traders backtest just to get more experience in the market
He does it differently 🔍
He defines the exact conditions he is looking for
He checks the market structure
Then he makes every rule objective so each backtest is done the same way
That way the results actually mean something
And he can judge his strategy by facts instead of feelings
Gianluca goes deeper on his backtesting process in the full episode
Riz Iqbal retweeted
Stage 4: Profitable, but not stable
The money is already there.
Now you start sizing risk up and down, and controlling your emotions becomes the main job.
Umar says traders can stay in this stage for years.
Riz Iqbal retweeted
Stage 1: Novice
You are a blank slate.
The job here is learning the process and the rules. Making money is not the job yet.
Riz Iqbal retweeted
Umar Ashraf has made 8 figures trading.
He says it took him 8 years. It should have taken 3 to 5.
The extra years went into skipping stages he didn't know existed.
Here are the 5 stages every trader goes through 🧵
Riz Iqbal retweeted
JadeCap went from construction worker to a world record $2.5 million single prop firm payout. Over $4.5 million in payouts in total.
He owns a Ferrari. He drives it once a week. The rest of the time, he is in his office.
He started with $10 to $25 risk per trade, and spent his first 5 years jumping between strategies.
How he runs it now:
• One position size for 3 months. Any change is a discipline problem
• Prop trading is a business, with its own company and its own card
• One prop firm until it pays out, then spread across firms
• Early payouts go back into accounts and an emergency fund
Riz Iqbal retweeted
Matteo Conti spent 7 years at one of Europe's largest banks, running €15 billion a year.
Now he teaches retail traders to treat a prop firm challenge like a business, with a plan tested in simulations before any money goes in.
Most people buy a challenge and hope.
Riz Iqbal retweeted
1. Ask 2 questions every day
Write down 3 things you did well today.
Then 3 things you could do better next time.
After a few weeks, the same problems keep showing up. Now you know where to focus.
We sat 15 unprofitable traders in front of Umar Ashraf, a trader with over $30 million in profits.
The same mistakes kept coming up:
1. Overtrading
2. Revenge trading
3. Cutting winners early
4. Switching strategies
5. No discipline
Most of these have nothing to do with strategy.
Riz Iqbal retweeted
🖼️ If you have ever watched an auction, you already understand how markets move.
Andrea Cimitan @andreacimi explains it with a painting
A painting is up for sale at $1 million
One bidder says he will buy it for $1 million
Another says he will pay $2 million
The price goes up because people are willing to pay more
The painting is the supply
The bidders are the demand
The auctioneer matches the two
Financial markets work the same way, with one difference
It is a double auction, with buyers and sellers on both sides
In his view, when you learn to read when this auction is in balance and when it is out of balance, you get a good idea of what price might do next
Every candle on your chart is an auction
Watch Andrea break down the full idea on Chart Academy
Riz Iqbal retweeted
Connor Bates @ConnorJBates_ has one rule before he trades any stock
It must do at least $80 million in daily dollar volume
The best stocks like Nvidia and Sandisk trade huge volume
That usually means institutions are buying
And he wants to follow them
Institutions are the ones who build the base
When the stock starts to move they support it on the pullbacks 📈
Big volume also lets you get in and out easily as you scale your size
Thin stocks with low volume are different
Their moves are more random and much harder to trust
His $80 million number is not fixed forever
It can go higher as your account grows and you manage more money
More from Connor on picking the right stocks in the full episode 👇
Umar Ashraf @UmarAshraf used to make a common mistake after every bad trading day.
He would go and try to learn more.
Now he says more information does not make you a better trader.
After a bad day, he would ask himself what he was missing.
But nothing was missing from his education.
He was only trying to explain why he could not read the market that day.
Even now, there are days the market sells off and Umar cannot read it.
Sometimes there is nothing he missed at all.
In his view, the market is random at times.
Those are the days you accept it, instead of running to learn something new.
Less information will always make your life as a trader easier.
Umar breaks this down further in the full episode below.
