When you are trained your whole life by schools and workplaces that something is only valuable when it’s doing well, the reaction to a pullback is totally understandable.
The system doesn’t teach anything to do with BTD and what that really means on a deeper level.
This is not a JOKE. This is your hard-earned capital.
Have some god damn rules in place to be successful.
Randomness in your methods achieves zero success.
Have rules, have a journal, write it all out. It's not optional. Don't care if you are a 30 year veteran in the "market".
Tip of the Week:
Knowing where the market is headed will help you know where your positions are headed. Chart and watch $SPY $QQQ $DIA $VIX to understand market direction. Even if your position looks good, the market correcting could effect your positions. @KingStTrading
$QQQ Nasdaq with a rough day, but it is just still building a base. Potential inverse H&S or Double bottom. The 300ish level has been and still is the important area. For the RSI fans this also gives a chance for a momentum divergence.
In my experience the money made in trading is about recognizing the environment that we’re in & taking advantage of the moments where things are set up for us in our strategy & we’re in a good mindset. The rest of the time we’re grinding to stay in the game for those moments.
In my view, any set of trading rules should cover these main topics at the least:
Determining Market Conditions
Stock Selection
Entry Setups
Stop Loss Management
Position Management/ Sell Rules
Mindset/Psychology
Post Analysis
Routines
Dealing with earnings
Crisis Management
$SOS Daily and Weekly charts... Tight coiling on both with an inside week at the bottom of it's trendline and #BTC running. Wouldn't be surprised if this gaps up PM tomorrow 🚀
If you want to invest in the future, invest in:
Electric Vehicles
Cryptocurrency
3D printing
Biotechnology
Artificial Intelligence
FinTech
Space & Satellites
Rare Metals
Semiconductors
Energy Infrastructure
Renewable Materials
Data storage & management
Online gaming & betting
$SPY #chart#marketahead
Market is ready for Weekly Breakout if it bases over 394 level. If retest 388 , that would be normal but should hold
But Ideally if VIX falls to 20 and no bounce; 400 incoming!
Will be watching these key pivots!
Watch Vaccine Plays for continuation!
Amateur poker players feel the need to play every hand, good or bad, have no discipline and can’t wait to put all of their money at risk, before they blow out.
Pros sit back, play their best hands, pass on many and know when & where to press.
Markets work the exact same way.
One of the biggest mistakes one can make in trading is forming an opinion/perspective of future market direction and becoming emotionally attached to that view until it plays out.
If price action tells you the tides have changed, you have to adapt.
#tradingtips
Amateur Shorts use High of Day as risk/stops on their shorts
✔️When that level breaks, they scramble to cover
✔️New Buyers come in to trade the breakout
This results in Explosive moves
#shortsequeeze
$SPY #SPY
Bullish thesis: Break/close over daily resistance today.
Bearish thesis: the previous weekly support trendline is now potentially acting as a level of resistance into the end of the week.
Let price action lead the way, simple as that.