EASetup

Momentum Trader. Spotting EPs and Breakout Patterns. Sharing real-time setups...

[EASetup @emaxback]

@fpbegin nice job, are you keeping it through earnings?

[EASetup @emaxback]

@MisterLowRisk I went long on the 1st pullback. Kind of fav. pattern and I got a decent entry as well...Just the volume on the bounce was weak and I raised to BE after being up 20%. you made the hell of a trade, congrats. 2 faces of the same medal 😀

[EASetup @emaxback]

@MisterLowRisk I was stalking it for a 1st pullback entry, but nothing so far.

[EASetup @emaxback]

@JSpitTrades For me the converse...😀 because of the potential next day Gap. This is one of the few real edges in trading.

[EASetup @emaxback]

@IntlSpeculator and do we want to talk about the name of the company? So great somehow.

[EASetup @emaxback]

@IntlSpeculator @MisterLowRisk Du missade ingenting 😁

[EASetup @emaxback]

@Tequila_Trades Yeah, you can see it on the 13-min chart. Tight stop

[EASetup @emaxback]

@IntlSpeculator Long as well. I was stalking it since one week hoping for a C&H breakout before the earnings, but no...So EP will be 😀

[EASetup @emaxback]

@MisterLowRisk I lived in Sweden in that time too 😀, but it looks different this time sadly. Let wait and see.

[EASetup @emaxback]

@IntlSpeculator Pretty unfiltered....nice

[CJ @IntlSpeculator]

If I could go back to the start as a trader I'd lay this out as a rough roadmap to keep in the back of my head:

1. Playful chaos

Be like a baby who is first learning about the world.

Try everything. See what feels right and what you ENJOY the most.

Don't get too hung up on what others tell you or recommend.

Even the best often have biased opinions...

Tell Warren Buffet you want to daytrade, he will probably regard you as a fool.

Realize anything goes in the market as long as you can make it work.

2. Building a foundation

Start refining and zooming in on the areas where you identified aptitude.

Like hacking away rough pieces from a marble block.

It's a mess at first but slowly starts to resemble something real.

3. Specialization

Become as narrow as possible, eliminate the excess.

Refine and iterate over and over.

Aim to become "that guy" in a narrow field.

The hyperscalper guy, the deep value guy, the theme stock aggro swing trader or whatever.

The marble statue will have taken shape but it will be rough and coarse looking.

You are still pretty bad, but thats ok.

4. Refinement

Here is where the real work begins. The narrow road.

You have your core strat, you know what to do. You survived the initiation.

But you are really just another pleb who made it to the starting line.

Only here will stuff like trading psychology and maximizing performance become relevant.

From here on out you chip away at tiny pieces and progress will be slow.

Weeks and months, maybe even years just to notice a granular improvement.

Like grinding WoW or Diablo late game.

5. Mastery

I can't talk much on this one.

Wish I could say I'm there but it will take time, might never reach it.

Don't think many do...

We're talking decades across different market environments.

Someone like @PeterLBrandt who's constantly adapting yet steadfast in his core principles.

I will revisit this one in a decade or two...

_______

Personally I failed pretty hard at this.

I was too afraid to experiment early on.

Then lazily latched on to an ineffective method.

So had to go back to experimenting, yet this time too afraid to narrow down and close doors, so spun wheels for years.

The trading journey is indeed a long one.

[EASetup @emaxback]

@IntlSpeculator Probably the biggest issue in the way you trade is the "size" of the capital (besides patience). This has to be large in order to give you the chance to be free to choose..just in case something really nice pops up.

[EASetup @emaxback]

@JungleJorge2 Look at the volume the previous 3 session. 2 big bars. Someone add positions there and there was to buy ;-)

[EASetup @emaxback]

@GjonbalajPajtim The setup is still intact with the bounce off support 👍🏻

[EASetup @emaxback]

$NWL looks pretty good here, low risk entry on the upper BB break, nearing a well developed 4-month C&H Pattern
#StockMarket

[EASetup @emaxback]

@IntlSpeculator Because there is un-charted territory above it 😇

[EASetup @emaxback]

@TraderJohnny_ Could be. Also $RKLB and $EVEX look nice

[EASetup @emaxback]

@TraderJohnny_ A lot of stocks are fading away, kind of tricky market despite the indices holding

[EASetup @emaxback]

@anandragn and $FLYE too

[EASetup @emaxback]

@anandragn $LIMN silent alarm yesterday ;-)