How to protect profits by being a risk first trader ?
Look at the watchlist candidates and analyse how many are above 50dma.
Progressive exposure: u scale up when markets and stocks r doing right.
When things get wedged up, u get few flushes.
U have to learn everything to be able to do by urself.
Importance of mistakes and learning from them.
People have bad habits. They want to be how great traders are but, don't do they don wht they do. Remove bad habits.
Building the case apart from technicals helps build the full picture: conviction.
Read all signals, signs and the chart.
Its just a big game and u ride on the shoulders of the big funds.
Risk first trader: When u go into a stock u need to know wht risk u have ?
Big position with small risk.
Dan zanger: Dollar stops
Taking small risks and big position. Look for large risk multiples.
U don't go broke taking profits.
Sell into large risk multiples.
Progressive exposure: Big question around position sizing
Top leaders in UNIC 2020, top 3 r using a 3% stops.
Coming from cash: do some testers
Pilot buys say half size, add later or cur them. Putting feelers out there and get feedback.
Price acceptance: u want people to stop taking about prices. Not to argue.
Price touchdown, volatility reduction & ATR reduction.
Look for decks to clear out. They clear out weak hands. U then enter again.
Choppiness is the worst time to trade. Hard thing is sitting on ur hands. Take ur position sizing down and be more on cash. That's how progressive exposure works. Be fluid, go with the flow.
Sell into strength if u can. Get on and off. While u sell u need multiple of ur risk. U hav to read wht u r doing.
Its important to not let opinion on the stock. Look for compounding ur gains quickly. U cannot make 70% easily if it were an easy buy.
Look for confluence of different systems. That's ur only edge.
Focus on just one pattern and get some real expertise on it. Don't be a system jumper. This is wht people do for years. U have to know wht u r playing.
***The End***
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Covid-19: people went broke-people also saved much
spending would be unleashed
supercycle coming
Innovation cycle of digital revolution
U r the architect of ur own life
TML: True Market Leader
How many TML's are extended?
Concern: short term excesses
long term: super-cycle
Economic boom-secular supercycle-FED-people wanna spend.
Short term super volatile pullback~f(rapid ascend)
Currently, there is institutional adaption is high in Bitcoin
Never violate the trend.
Be very cautious about people who become ur mentor.
position sizing
shortening losses
sector allocation
keep these as ur guard rail.
We r in the interpretation business rather than a prediction business.
Rule: not to sell based on fear of losing profits.
Look for psychological indicators, put-call ratio etc.
Its just competition vs ourselves.
Your eyes wud b walking through the patterns after ur big practice for time.
Know the character of the stock.
No matter how great the fundamentals if the stock if its not forming setups it just doesn't matter. If u wanna look for character, look at the left.
Up on vols
Ipo scan
Industry group
RS line: New highs before price
Buy stocks early nd pyramid final position at traditional breakout.
Have a tight and logical stops.
Have plan to reduce on weakness
Best companies wan to up.
Best stocks can't avoid indexes
Market always fool u
Focus on wht u own and wht u wish to own.
Don't try to read too much into markets.
As vaccine goes out, more traditional companies getting into limelight.
Great trades don't require predictions.
U just have to see it and take action.
-->>Have a consistent routine:
-> weekend study
-> all fishing on weekends
-> u have full weekly bar
-> Sunday afternoon
U r always 4 days away from a potential rally(FTD).
Keep urself on the toes and keep training.
Once u catch a big name one time, u get hooked. U want to do that again.