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The Hazards of Not Being Prepared. How do you prepare for the trading day? Preparation is key when trading and from time-to-time we are going to slip out and get caught out. In this video I'm going to describe a recent time for me where I wasn't prepared and the lessons we can all learn from it. OK.
The moment in time we were having a bull market, market has been stuck in a range waiting for a Fed announcement that came on the day I produced this video.
I'm looking specifically at the YM (futures) or DOW. In my mind I'm not expecting anything to happen before the Fed announcement and I don't really even want to get sucked into a position on the day of the announcement. However, yesterday Mario Draghi came out and said something which ripped the DAX to the upside and of course DOW futures responded as well which broker the DOW from its range and I wasn't really prepared for this.
Even so I took a trade on this and I'm going to expand on why not being prepared effected this and expand on the notion that not being prepared can lead to real danger ahead.
When you take a trade and see the market ripping off, you then want to almost undo that mistake by taking another trade immediately. Chasing markets doesn't work in the long term...
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https://www.youtube.com/watch?v=2JlnoX3bELkAbout the Site 🌐
This site provides links to random videos hosted at YouTube, with the emphasis on random. 🎥
Origins of the Idea 🌱
The original idea for this site stemmed from the need to benchmark the popularity of a video against the general population of YouTube videos. 🧠
Challenges Faced 🤔
Obtaining a large sample of videos was crucial for accurate ranking, but YouTube lacks a direct method to gather random video IDs.
Even searching for random strings on YouTube doesn't yield truly random results, complicating the process further. 🔍
Creating Truly Random Links 🛠️
The YouTube API offers additional functions enabling the discovery of more random videos. Through inventive techniques and a touch of space-time manipulation, we've achieved a process yielding nearly 100% random links to YouTube videos.
About YouTube 📺
YouTube, an American video-sharing website based in San Bruno, California, offers a diverse range of user-generated and corporate media content. 🌟
Content and Users 🎵
Users can upload, view, rate, share, and comment on videos, with content spanning video clips, music videos, live streams, and more.
While most content is uploaded by individuals, media corporations like CBS and the BBC also contribute. Unregistered users can watch videos, while registered users enjoy additional privileges such as uploading unlimited videos and adding comments.
Monetization and Impact 🤑
YouTube and creators earn revenue through Google AdSense, with most videos free to view. Premium channels and subscription services like YouTube Music and YouTube Premium offer ad-free streaming.
As of February 2017, over 400 hours of content were uploaded to YouTube every minute, with the site ranking as the second-most popular globally. By May 2019, this figure exceeded 500 hours per minute. 📈
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