"The Good Samaritan" (from "Day Trading")

The second content of the ultimate trader described in the chapter "The Second Secret—Someone on your opposite side, and they are not friends."

From the second part of that secret.

In the market there are always sellers and buyers, so you must be aware of both sides.

This is a common phrase you’ll see in FX books and the like.

Topics such as “go against the crowd’s psychology” are also often encountered.

Is it the same nuance?

However, day trading presents it with a strong and clear expression.

“Successful trading is when you buy from those who are releasing products (stocks) for sale at prices that are too cheap, and sell it to someone else when you know it is overpriced.”

It’s a harsh expression that leaves no room for dissent, but

could this be the mindset of the ultimate trader (laughs).

In the concluding part, there is a more noir metaphor.

“In many senses, the ultimate trader plays the role of the ‘Good Samaritan’ (the merciful person who helps those in need in the New Testament). 1) He buys stocks from the crushed when they are suffering to save them, and 2) when the greedy want to buy stocks, he sells to satisfy them. In a sense, the ultimate trader alleviates others’ pain and fulfills their desires.”

1) Those who cannot withstand unrealized losses and cut losses (sell orders) ⇔ Entry (buy orders)

2) Those who cannot resist wanting to buy at high prices (buy orders) ⇔ Take profit (sell orders)

That’s what it’s saying, right?

Perhaps the ultimate trader is a merciful person (laughs).

After all, “day trading” is also interesting as a reading.

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