Meetup

(GIMG) Greendale Investing Meetup Group

MEETUP LINK – https://www.meetup.com/greendale-investing-meetup-group/
We’ll meet on the last Monday of the Month (usually), starting at 6pm, ending by 7:45pm

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Directions to Meeting Location:
Greendale Public Library (click for map)
Community Room in basement
5647 Broad St, Greendale, WI 53129

Enter through the front of the Library, and ask for the Community Room

You are ENCOURAGED to bring something to the meeting: an investing book or article, an investment quote or saying, website link, market insight, etc. I REALLY APPRECIATE INSIGHTFUL QUOTES ON THE STOCK MARKET! Don’t just bring a stock tip!

AGENDA, Monday July 26, 2021, starting at 6pm

1. Opening Bell – Let’s get ready to trade (info)

2. Welcome! Introduction and Goals for this Group

3. TOPIC: Mind Over Money: Trading the Mental Game

20 cognitive biases that screw up your decisions
https://www.insider.com/cognitive-biases-that-affect-decisions-2016-7
https://i.insider.com/56a111cfdd0895ac0c8b46cb?width=700&format=jpeg&auto=webp – PICTURE

T H E C O G N I T I V E B I A S C O D E X
https://upload.wikimedia.org/wikipedia/commons/6/65/Cognitive_bias_codex_en.svg – PICTURE

List of cognitive biases
https://en.wikipedia.org/wiki/List_of_cognitive_biases
https://en.wikipedia.org/wiki/Cognitive_bias

“You do not trade the markets. Instead, you trade your beliefs about the market.” — Van K. Tharp
Be careful what you believe. Beliefs can create your boundaries. — Steve Burns, @SJosephBurns

I believe that everything revolves around your beliefs, mental states, and mental strategies, so with that in mind, everything about trading is 100% psychological, including why and how you trade or which system you will follow or build. — Van Tharp, @vantharp

So true. Trading is all about dealing with all your own biases and tendencies and learning how to deal with your own fear and greed — Angelo Dizon, @valkyrie_andizo, replying to @vantharp

E.G.O.= Everyones Got an Opinion — Herb
It takes two to make a market.

How INVESTED are you in a particular stock, financially? mentally? emotionally?

Traders shouldn’t marry positions, they should just be speed dating. — @GossettTrading

Sell-buy.jpg

Do you truly believe in choice? If you answer is yes, count how many times you blame others, circumstances and make excuses. The most powerful human trait is the ability to choose. The more you use this wonderful gift, the more empowered you become. Believe in choice and use it! — Mark Minervini, @markminervini

Mental state: ADHD vs. patience. Stress tolerance/ability to handle drawdowns. Childhood lessons from family. Spouse concerns. What do you do all day? Glued to a screen, or set and (forget) it? Match your psychology to the market.
Are you responsible? For your life? for your money? Victimhood: self-limiting. Agency/action.
What do you want in the market? Goals, Income, Growth. Or do you want Action, Excitement, Purpose?

Great Cryptocurrency Scam (2017-2018).jpg

F.O.M.O. = Fear of Missing Out (after a stock rises)
F.O.L.O. = Fear Of Loosing the Opportunity
F.O.L.E. = Fear of Losing Everything (after a stock falls)
F.U.D. = Fear, Uncertainty, Doubt

Can you answer these Psychology / Mindset questions from “Creating Your Own Trading Plan”?
https://docs.google.com/document/d/1-YmtTsvfwPhYybxiLLDomJvV2Ig-s9YBZGz619s2qnA/edit#heading=h.lljwlt4xundc

Confessions of a trader
A place where you can anonymously post your trading struggles

Confessions

Trading Psychology: What You Need To Know About FOMO

3 Common Psychological TRADING Mistakes

1. FOMO
2. Revenge Trading
3. Gambler’s Fallacy

The 3 deadly #trader traps according to @markminervini
1) #EMOTIONS. Causing you to do things that are irrational
2) #OPINIONS. Forming an idea that limits your vision
3) #EGO. Keeping you from admitting and correcting mistakes
From his great book: Think & Trade like a champion. — SystematiCK Trader, @SystematiCK_

How to overcome your fears in trading.jpg

4. Stock “Share” Time: What idea did you bring?

5. Stock “Quote” Time

6. Closing Bell (by 7:30pm)

Please RSVP. The Community Room has a limit of 24 people, for social distancing.

–Herb Ripka

For more details – http://herbripka.com/meetup/

FUTURE MEETINGS: Monday August 30, 2021, (LAST Monday of the Month) starting at 6pm
FUTURE MEETINGS: Monday Sept. 27, 2021, (LAST Monday of the Month) starting at 6pm

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Recommendations
Start by going to IBD University and Review the Information. Investor’s Business Daily
Learn to use the Time Saver Table, General Markets Indicator, and Psychology Indicators. Read the Big Picture every day.

Book List
Read The IBD Bible – How to Make Money in Stocks by William J. O’Neil, who was the founder of IBD.
24 Essential Lessons for Investment Success: Learn the Most Important Investment Techniques by William J. O’Neil
Secrets for Profiting in Bull and Bear Markets by Stan Weinstein
Reminiscence of a Stock Operator by Edwin Lefevre
Market Wizards by Jack D. Schwager
How I made $2,000,000 in the Stock Market by Nicolas Darvas.
Come Into My Trading Room: A Complete Guide to Trading by Alexander Elder
Trend Following by Michael W. Covel

Disclaimer:
Investments are not insured or guaranteed. “Investments” may lose value. This website (and the Meetup meeting, or meetup.com) is not an offer, solicitation of an offer, or advice to buy (or sell) securities.
Any information presented or discussed as a part of this presentation is only opinion.
It should not be taken as advice and should not be acted upon.
This information is presented to be educational. Your individual financial requirements have not been taken into consideration.
As always, one should seek appropriate professional advice before entering into financial or other arrangements.

GOALS:
Our Meetup Group Aims For Three Goals: 1-MAKE MONEY, 2-HAVE FUN, 3-LEARN. Your participation, while voluntary, will help us achieve at least two goals. Which ones? Well two out of three ain’t bad.
No real estate, there is another local Meetup group for that.
No politics or religion.
No gold or collectibles or coins, unless you want to.
Touch on fundamentals, not emphasize it like NAIC.
Mainly technical trading, leading to Nicolas Darvas’ “techno-fundamentalist” & William O’Neil
If its handled by a stockbroker, we’ll cover it.
OUR EMPHASIS: IBD (Investors Business Daily) CANSLIM by William O’Neil, Market Wizards (see Jack Schwager books), Jesse Livermore, Nicolas Darvas, Ed Seykota, Richard Dennis, Trend Following by Michael Covel, Turtle Trading.

E.G.O.= Everyones Got an Opinion — Herb
That is what makes a market!

$$$$$ LINKS
(GIMG) Greendale Investing Meetup Group – THIS PAGE
http://herbripka.com/meetup/

(GIMG) Greendale Investing Meetup Group – MEETUP LINK
https://www.meetup.com/greendale-investing-meetup-group/

Herb’s Investing List on Twitter
https://twitter.com/HerbRipka/lists/investing

FinViz Screener Test_Macro
https://docs.google.com/spreadsheets/d/1UEXklnwIGyPRRfUjUGAc0h-dnu0m3JnblCtsvpyh5ys/edit#gid=0

Inflation_Tax_Table_2020 “The (Rarely Seen) AFTER-Tax, AFTER-Inflation spreadsheet”
https://drive.google.com/file/d/1sSK0DhyEsuMcQT04IaZYcbnN6I5Xy5HS/view?usp=sharing

Stock Concepts
https://docs.google.com/document/d/1QHHNNG9ucnEzNUZa_Rn1aeLQf_E0WX1DX8L3qoOFqkc/edit

Creating Your Own Trading Plan
https://docs.google.com/document/d/1-YmtTsvfwPhYybxiLLDomJvV2Ig-s9YBZGz619s2qnA/edit#
This document “Creating Your Own Trading Plan” is a great transition from our discussion of the Three M’s to our next topic on “7 Parts of TRADING”

7 Parts of TRADING
https://docs.google.com/document/d/1j5fIe-lJa-pu9tmC_JLvS7PlKI8jPzqaUBAkf9Ph3YA/edit#
1. Trading Plan
2. Trading Strategy
3. Trading System
4. Trading Tactics
5. Trading Metrics
6. Trading Review
7. Trading Fruits

Confessions of a trader
A place where you can anonymously post your trading struggles
https://confessionsofatrader.com/

Money Quotes
https://docs.google.com/document/d/1STEI1KdC9X45SRlX9FWKlGbhJIz2U06zpQhhM3ySYAI/edit#

Wealth Quotes

Inflation Adjusted Dow

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https://www.newtraderu.com/

https://twitter.com/SJosephBurns/status/1344995980106735619
University of Finance Twitter:
Options: @DanFitzpatrick
Backtesting: @TrendSpider
Stocks: @DanZanger
Education: @MarwoodJB
Forex: @austinsilverfx
Patterns: @Trendspider_J
Price Action: @priceinaction
1 on 1 Mentor: @GossettTrading
Psychology: @TradingComposur
Finance: @dmuthuk

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I recommend (and use) XLQ – Your solution to working with market data in Microsoft Excel since 2000
https://www.qmatix.com/XLQ allows you to work with market data in the way you want. No interface or program design restrictions. Create your own layout or easily modify any existing spreadsheets to have them always updated and up to date, even in real-time.

Herb Ripka