BambooFlow

[BambooFlow @Kalmerrick]

@Qullamaggie @lonextrades David provided trading notes

[Simon Russo @SimonRusso__]

https://t.co/OA5Bp7IaLe

[Simon Russo @SimonRusso__]

https://t.co/ngOP7mLHAS

[Simon Russo @SimonRusso__]

"$1.5 million to learn what Coltrane could have taught me for the price of a record."

Giant Steps (04 of 06)

(link below)

[Simon Russo @SimonRusso__]

"The best setup in our entire arsenal is named "avoid." We do nothing with it by definition of the category.”

Forswear the Filter (03 of 06)

(link below)

[BambooFlow @Kalmerrick]

@Schvitzless @SimonRusso__ @JohnStrongHodl 100% agree. @SimonRusso__

[Lone @lonextrades]

Qullamaggie on Eliminate Randonmess by Focusing On Momentum, Volume, and Range

“CRNC uh no, no no no. It’s definitely not a good short setup. No no no, nope nope, nope nope nope nope. It’s too random, it’s too random. It’s a thin uh, it’s a thin random stock. Nope, I don’t think it’s a good short. Like we got the good short setups guys. The good short setups have already been like, you don’t get them all the time. Like it doesn’t mean this thing can’t go down, but the good short setups we got them like earlier this week and late last week. This is not, this is just too random. It’s just a random liquid stock.

You know one thing you gotta eliminate for trading is randomness. Stop trading random stocks. You need to focus on stocks that have range and volume, momentum range and volume. I don’t think CRNC is a good one. Good one I don’t think so.

Yeah no problem. I’m just trying to keep people away from these random stocks where we sometimes they can look good but there’s really no edge there, they’re just too random. And then you know, a lot of people like they see a setup but just because you see a setup doesn’t mean it’s a good one. You kinda need to get the right setup in the right stocks. I guess that’s what I’m trying to say.”

[Simon Russo @SimonRusso__]

https://t.co/dkfZUM4onz

[Simon Russo @SimonRusso__]

"My achievement is not that I've made $500 million in the last five years trading markets... my achievement is the contentment I have found inside my craft."

Craft is Cathedral (01 of 06)

(link below)

[Lone @lonextrades]

Qullamaggie on To Make Millions In Trading, Actively Work on Being Inactive

“So I’ve never in my trading career being this inactive. I’m working on it. I’m actively working on being inactive and really waiting for those perfect opportunities, because that’s where the big money is. You only need those perfect opportunities—they only come around maybe a couple of times a quarter. So it doesn’t really make sense to just force trades 90% of the time or do some mediocre setups.

It just doesn’t make sense. I know what type of stocks where my big money comes from—it’s EPS, like earnings EPS. That gap up over multi-month and sometimes multi-year ranges. It’s like high tide flags of different types, like something like Tesla. We had channel breakouts like Tesla a couple of times last year, high tide flag and channel breakouts. We had stuff like Celsius even now. This one was a very small size for me, but you know, this is the concept right here.

DQ was another one of these channel breakouts, and all of these stocks had already doubled or tripled after I bought them—oh sorry, before I bought them. That’s what I said before. My biggest winners on the long side are the stocks that have already doubled or tripled in a few months. And then we also have their parabolic shorts—stuff like Laser that I nailed. This one was pretty recent. Just have to wait for the really good ones.
GME obviously—how could I forget this? The parabolic short, then the channel breakout here, and the flag breakout here, the high tight flag here. Best trading stock ever.

So those three or two setups—that’s where my big money has come from. Everything else is pretty much noise, or even the oil names like XOP and the other oil, gas ETFs and stocks. Unfortunately, I got stopped out of it, but if I had maybe yeah… this was a tricky one but look at what it made.
You know, these types of setups—if I see something like this, I go size. Those are the setups that work really well. And if I don’t see stuff that looks like that, I know there’s nothing to do for me personally. It’s a lot of mediocre setups. Like every day you get some mediocre setups. Sometimes they work really nice, sometimes they don’t—or most of the time they don’t—because they’re mediocre setups.”

[Lone @lonextrades]

Qullamaggie on Bad Markets and Dying From a Thousand Cuts

“But remember, markets need to be in an uptrend for these things to work. You know, you won’t get these types of setups when a market’s doing this or this, right? Or this. You won’t get stocks like that.

But once we start trending higher—you know—the 10-day starts turning up, the 20-day starts trending up, the 10-day goes above the 20-day… you gotta pay attention. Sometimes it may be the end of a bear market rally when you get those, or near the end of a bear market rally. So that’s why I put another filter: I used the 100-day to see if it’s sloping higher or lower.

You need to have like a green light, yellow light, red light kind of thing—to know when not to trade, when to take less size, etc.
Because trying breakouts and EPS in bad markets… it’s not gonna end well. You’re gonna die from a thousand cuts.

You really need to be super patient.”

[Market Rebellion @RebellioMarket]

First & Foremost Protect Your Ass—-PTJ