How to improve your trading quickly⚡️
1. Stop strategy hopping. Find a setup or strategy you like, stick with it and perfect it.
2. Zoom out and pay attention to bigger timeframes and trends. Even if you are day trading smaller time frames, the bigger trends have a massive impact on the quality of smaller time frame trades.
3. Discipline. Have a bulletproof risk management system. Plan risk on every trade.
4. Don't overleverage. This is a big one. Consistent size betting with a consistent trading strategy is key.
5. Focus on a couple tickers to trade every day. You'll get really good at knowing how they behave. $SPY and $ES $MES (futures) are great for this IF you have a good trading system.
6. Journal Your Trades. You cant improve what you don't measure. If you journal every trade, you'll start to see which trades are good and which are bad and it will help you identify what trades to take, and which to stop taking.
Please like and RT this to help out a new trader 🙏
@TradeAddict@ShortDaPos@SDPTimeMachine Yes it does get more R, but the success rate drops. I defined 1 R as the break of the 15min candle to the high of day
@TradeAddict@ShortDaPos@SDPTimeMachine I tracked the 15 min candle break for two months and it was giving me a 65% win rate with a 1/1 rr, but I would love to find out how to backtest that
5. There are no Absolutes in Trading 🚫 Speak in terms of what a stock "could do" or "should do" but never think a stock "WILL do" something.
6. Risk the Proper Amount of Capital Per Trade 💸 Don't oversize, double down, or "YOLO". Home runs come as a result of good trading.
$ATER Solid short trap long play 💯entered a tad early with that starter, re-entered immediately when 92 break became the short trap and ended up being a pretty epic squeeze. Took an add thru $5.55 when shorts didn't get an exit on any significant dips.
$ADN this is the biggest red flag you can see if short (and good sign if you're looking to play a long squeeze). The dreaded dip hold. Saw the squeeze coming from $3.41 after the sub 40 trap but still got a couple good targets out of a higher short signal. Going to be a wild one.
$ATER was a busy one. Short, flip to long bias for the squeeze, afternoon full on short bias to targets (still waiting for finals). $RCAT morning long scalps flip to short bias. $PLX short scalps, flip to long bias for the squeeze, didn't get as much as expected, B/E on rest.
Watch-List 12-23 📈🎅📉 $SOPA $ACST $AVCT $NSTX $RELI $ENSC $BFRI $BVXV $SEAC $RCAT $GRTX $BRTX $ABUS $ISPC $AMC
Have a great day tomorrow folks. Trade safe and have fun.
https://t.co/Bfqou7YeXP
Watch-List 12-22📈📉 $GRTX $BRTX $PTPI $SEAC $SOPA $SPRB $ACST $AVCT $ISPC $ABUS $PPSI $AMC
Lots of good setups playing out this week, volume tends to die off a bit in the afternoon but not a bad week of trading so far. Trade safe 👊
📈https://t.co/Bfqou7YeXP