This is brilliant and shows exactly how fucked young people are. My personal opinion since presenting The Retirement Crisis in 2016, is that crypto is the way to unfuck your future, and debasement of currency is the root cause. @profgalloway and I may differ but he is dead right
Dan Zanger famously turned $10,775 into:
• $2.6 million in 12 months
• $18 million in 18 months
• $42 million in 23 months
In various interviews, @DanZanger underlined the importance of chart patterns, along with price and volume. He’s even named his website chartpattern[.]com.
And yes, setups are important for getting good entries. But a setup alone can never be an edge.
As @PradeepBonde put it: chart patterns are just one element of Zanger’s system. Believing that this is the main reason for his success is a “myth”.
What are some other elements to a wildly profitable trader’s system?
1. Stock selection
2. Situational awareness
3. Chart pattern nuances
Though not always explicitly addressed in Zanger’s interviews, the clues are there.
Let’s take a closer look at these 3 elements, Zanger style.
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Extract from this week’s stack:
3 Key Elements to Dan Zanger’s System
Going beyond chart patterns
🔗 https://t.co/gOFSJA4eIx
Trader loses 50k in 3 minutes!
Folks, if you’re breaking down in tears after 2 bad trades, your position sizing is way off. Understanding risk management is the key to making it.
https://t.co/mP43HKdeY3
Over the past 3 years, this 26-year-old trader has hit 7 figures in profit each year.
I had the opportunity to have a 30-minute conversation with him to discuss the secrets behind his exponential success.
Here's what I discovered: