It's never been easier to learn from Market Wizards.

Yesterday I watched a webinar with US Investing Champion @1charts6 as he shared his 10 Principles Of Trading.

These are a must read for any trader that wants to be profitable long-term.

Here they are (bookmark this): #1. Put Risk First

Here are some general guidelines Oliver shared:

→ Stock: 3-5% stop loss
→ Maximum Loss: always know it!
→ Protecting Principal Capital is key

To make money, you first have to stop losing money.

Here are 3 key Stop Loss approaches he shared as well:

Learning how to trade Earnings Gap ups has made traders like @Qullamaggie millions.

This level of success is what every momentum trader strives for.

But, how do you identify which gaps are worth trading?

Here's my 3-Step Gap Trading Guide (that can be applied instantly): Why trade gap ups?

Simply put, a single earnings gap has the ability to change your year (and career!).

$TWLO and $FSLY were two incredible examples from 2020:

But, not all gaps have TWLO or FSLY potential.

So, let's cut the BS & focus on the best:

You will find the market's next leadership stock by running these 10 screens every weekend: 1. YTD Performance > 100%

It's a high chance that the names already up 100% will continue to lead the market higher throughout the rest of the year.

If you want to be in those names, highly recommend studying/scanning this list on a weekly basis.

So far 62 results... ↓

There's been a lot of talk about the market being extended & what this means going forwards for the next couple of weeks.

Instead of relying on other peoples' opinions, I use @mwebster1971 Webby RSI Indicator.

Here are some historical examples & what this could mean near term: First and foremost, what is Webby's RSI indicator?

It's not the traditional RSI that you may be thinking of...

It stands for Really Simple Indicator.

And, it is really simple:

In February of 2023, I suffered the single worst overnight loss of my career, losing 8% of my capital in a matter of minutes.

I was devastated & went through a ton of growth as a trader in a short period of time.

Here are the 10 most impactful lessons I've learned since then: 1. Recovering Emotional Stability Must Be Your #1 Priority

It's human nature to want to make money back that you feel the market took from you.

Unfortunately, this mindset is flawed & will result in more losses.

The best thing you can do is focus on recovering a level head.

Creating a focus list can be daunting, especially when you have a universe of over 100+ different stocks.

The best way to narrow it down is by focusing on stocks that can double your money.

Here’s how you can make this mindset a reality when trading: 1. When you first look at a chart, glance to the left.

What does the price action tell you?

Where are the next large liquidity zones?

Is the stock trading near or at 52-week or all-time highs?

Asking yourself these questions will tell you all you need to know.

An example:

The great William O'Neil taught many how to 'fish' for their own food in the market & equipped the regular trader with skills to change financial futures.

Here are 20 of my favorite charts from one of his best resources, "How to Find & Own America's Greatest Opportunities": 1. Accustaff Weekly from 1995.

One of the most beautiful moves out of an IPO that I've ever seen.

95% of traders have a half-assed grasp on what it takes to be profitable in the markets.

The pros have a trading plan that outlines every piece of their process.

Here’s how you can create a multi-step, bullet-proof trading system to set yourself for success: First things first, what is a trading plan?

This is a written document that provides the foundation for how you are going to trade, independent of strategy.

It can be split into 7 general buckets:

Whether you like it or not, the market is constantly changing and evolving.

And, if you're not constantly learning and refining your edge, it's only a matter of time before you stop making money.

Here's how a Beginner's Mindset helps you stay ahead (in 4 easy steps): 1. Acknowledge that you don't know everything

This is one of the key principles of @markminervini's work - the only successful traders are the ones who realize they don't know it all.

A setup is one of the most powerful weapons in any trader's arsenal.

The better your setups, the better your chances of making life-changing returns.

Here are the 3 setups every trader must know: In this thread, I will be breaking down each of the setups below and providing my personal entry & exit tactics along with examples.

1. High Volume Close
2. Inside Day and Up Pattern
3. Key Moving Average Pullback

Let's jump into them:

When I first started trading, I had no idea what I was doing.

I've put together a list of rules that would've helped me dramatically – right from the jump.

Here are the most important Buy, Sell, & Position Sizing Rules for the Beginner Trader: Let's start with Position Sizing Rules.

The first main goal with Position Sizing is to...

"RESPECT RISK ALWAYS"

This sentence alone will save a new trader huge amounts of money money, a lot of headaches, and most importantly time.

Mark Minervini dropped out of school at 15 and became one of the greatest traders of all time.

There is a ton to learn from a 3x US Investing Champion.

Here are 25 of the most impactful quotes & lessons from Mark's book, "Trade Like A Stock Market Wizard": "The difference between interest and commitment is the will not to give up. When you truly commit to something, you have no alternative but success."

To be a great trader, you have to make the leap. Go head first.

This is exactly what Mark did, and look at him now.

1/26

Most traders have no structure to track how their mind operates before, during, or after the trading session.

That was one of my early issues–which lead me to create my own journalling routine:

The 3-2-3 Method.

Here’s what it is & how you can implement it in 30 min or less: The 3-2-3 Method is a simple mental model to build journalling into your routine in 30min or less.

It is broken up into 3 parts:

1. Premarket (3 questions, 5 min)

2. During Market Hours (2 questions, 10 min)

3. Postmarket (3 questions, 15 min)

Let's break down each one:

Bar-by-bar replay of the market's most impressive winners is the best strategy to build confidence as a trader.

This type of study is rewarding because you develop a feel for how *you* would have traded the stock.

Here's a 2007 $FSLR case study, where I do just that:

1/17 The story begins in late January of 2007, when FSLR breaks out above the $30 whole number on volume.

This name had been showing impressive RS and would have been on my IPO watchlist.

One of the focus traits here is the hold of $27.50, a key whole number for institutions.

2/17

Finalizing the focus list for tomorrow. Market looks to be in a pretty good spot leading into earnings...

Wide Focus Chart Thread ↓

$ALGM $AMD $AXON $COIN $DUOL $FSLR $IOT $NVDA $ONON $RBLX $SE $SPOT $SQSP $TSLA $MBLY

Tomorrow FL:

$AXON $COIN $IOT $RBLX $SQSP $TSLA $ALGM leading down to the 50DMA, see if it can get some support here and move up back through the $46 area

10 screens to run this weekend to make sure you’re trading the best stocks in the market: 1. Short Stroke

With the short stroke scan you want to review what stocks have performed the best over the past week.

It’s likely the accumulation that occurred over the past 5 days will continue if the market environment continues to stay healthy.

I've seen tons on ChatGPT and how it can make you a better writer, coder, etc…

But I've seen NOTHING on how it can help you improve as a trader (so I took a multi-hour deep dive exploring the possibilities).

Here are 8 ways to make ChatGPT your personal trading assistant: 1. Historical deep dives & studies

The historical data that GPT-4 was able to access & then return to me is nothing short of mind-blowing.

I asked it things like:
• Historical bear markets
• Leading stocks over the past decade
• Summaries of events

Here are its responses:

2 years ago I would’ve killed for the weekend routine I have now.

Here are the 3 scans I run every Friday that have completely simplified my weekends: Scan 1: Short Stroke

• 5-day Performance > 10%
• Average 20-day Volume > 200,000
• Price > $5

I run this scan to see what has performed the best over the past 5 days. I then sort the list by highest 5-day % gain & analyze where $$ went throughout the week.

I've spent countless hours trying to perfect my daily & weekend routines in the market.

I've also been able to improve my performance while spending way less time at the desk...

Here's how you can build YOUR perfect trading routine (to simply perform better & win time back): Over the course of this thread, you’ll master two things:

1. The optimal daily routine structure
2. The optimal weekend routine structure

Buckle up - it’s going to be a valuable ride. Let’s dive in:

12 pieces of trading wisdom that you must have printed on your desk: 1. Trading more ≠ more profits

The most underappreciated aspect of a successful trader is their ability to sit out when the environment isn't right.

Wait for your pitch!

If you’re like any trader to ever live you’ve had issues with overtrading.

I know I did, and it led me to create a system that changed the trajectory of my trading career.

The Confidence System: The main premise of The Confidence System is to combat overtrading by implementing these 3 steps:

1. Defining Your Setups
2. Grading Confidence In Your Setups 1-10
3. Applying Rules Based On Confidence to Conquer Overtrading

Here’s how to apply it (in 30 minutes or less):