Trading Foundations - Trading involves creating rules and strategies to filter market data and generate profit over time [6] - Success in trading is not about being right, but about managing risk and reward, with win rates as low as 36% being profitable [7] - Traders analyze market data to identify areas where price is likely to change direction, aiming to make 5x the risked amount [7][8] - Key tools for day trading include Trading View for charting and analysis, brokers like Blowfin or Bybit for crypto, Topstep for stocks/futures, and a trade journal for data input [13][14] Technical Analysis - Identifying trends using trend lines helps determine potential areas for price reversals [27][28] - Fibonacci retracements (236%, 382%, 50%, 618%, and 786%) are used to find key levels for potential price reactions [31][32] - Fair Value Gaps, identified by gaps between candle wicks, indicate high-impact zones for potential entries [37][38] - Trend-based Fibonacci extensions, combined with five-wave patterns, can help predict the tops of trends [41][43] Trading Psychology and Risk Management - Trading success relies heavily on mindset, understanding that being wrong on a trade doesn't make it bad [45][47] - Risk management involves setting stop-losses and calculating position sizes to maintain a fixed risk factor, such as risking $100 per trade [51][52] - Even with a low winning percentage (e g 30%), profitability is possible by allowing profits to run and maintaining a good risk-reward ratio (e g 36%R average win) [59][60] Strategy Building and Testing - Building a trading plan involves observing patterns, creating a rule book with entry criteria, and testing in a simulated environment [67][68] - Backtesting using bar replay mode on Trading View and a trade journal helps quantify the strategy's winning percentage and average win/loss [70][71] - Paper trading on an exchange with demo funds allows for real-time execution in a simulated environment before risking actual capital [78][79]

Trading Strategy - The industry observes that some traders claim 90-100% win rates, particularly on CT [1] - The industry suggests aiming for a 2-3 risk/reward ratio per trade [1] - A 33% win rate can lead to break-even or profitability with the suggested risk/reward ratio [1] - Risk-reward strategies are highlighted, referencing @Tradermayne [1]

Trading Strategy - Plan the exit strategy before entering a trade [1] - Determine the stop-loss level based on where the trading idea is invalidated [1] - Assess the Risk:Reward (R:R) ratio before initiating a trade [1] - Size the trade according to the stop distance to limit potential loss to a fixed dollar amount [1] Risk Management - Define the maximum acceptable loss for each trade [1] - The loss should be limited to the pre-defined risk amount [1]

Entrepreneurship & Innovation - Encourages embracing a "sandbox" mentality in life, fostering creativity and challenging conventional boundaries [1][2][3][4] - Advocates for taking calculated risks with a high risk-to-reward ratio to avoid conforming to traditional paths [6] - Emphasizes the importance of "radical naivety" – believing in one's ability to succeed despite potential failures, as a catalyst for innovation [14][15] - Highlights that creativity is a skill that can be developed through problem-solving and leveraging opportunities [27][28] - Suggests that pursuing high-risk, high-reward endeavors pushes individuals to the edge of their knowledge, facilitating rapid learning and growth [32][33] Project Management & Teamwork - Illustrates the power of student-led initiatives, citing an example where 13 high school students supported the Slovakian government's crisis communication during the pandemic, reaching over 55 million sessions on their website [9][10] - Underscores the value of asking questions and not being afraid of the answers, which led to the development of a project management system and social media presence for the Ministry of Education [11][15][16] - Promotes the idea of "doing it and asking for permission later," emphasizing the importance of taking action and learning from mistakes [19][21][22] Business Ventures & Industry Insights - Showcases the development of a weather probe venture, highlighting the integration of knowledge from various fields like branding, marketing, and project management [23][24][25][26] - Mentions a second venture focused on connecting students with corporate opportunities in industries such as insurance, banking, medtech, and automotive [26][27] - Details winning a US Navy challenge by creating a software tool for creating replacement parts, despite initial limitations [17][18][19]