Mike Tielke

I've had my nose to the grindstone for a few years now - started trading in 2022. Posting here for the sake of accountability. Any advice is much appreciated!

[Mike Tielke @mtielke1]

@1ChartMaster I call it QM, which is my abbreviation for Qullamaggie. IE, big move, then 2 weeks tightening range, higher lows at the 10 or 20

[Mike Tielke @mtielke1]

@preppytrader Great advice! I booked some of my GLD this week actually

[Mike Tielke @mtielke1]

@preppytrader Thanks for this! What do you think about the volume on this particular example? I feel like I often see the day "1" bar have extremely high breakout volume, with the "2" day relatively light volume and narrow range. Wondering your thoughts on the "2" day having high volume

[Mike Tielke @mtielke1]

@timothysykes Your education is so valuable and appreciated. I enjoy reading what you and your students are up to. Thanks for sharing!

[Mike Tielke @mtielke1]

Sold/trimmed plenty on Friday. Kept names that help up well. By size:
VRT
LEU
OKLL
COGT
BE
QURE
SLNH
PYXS
HIVE
IVVD

Let's be real, Friday sucked ass. I'm really happy with how I handled everything in the moment however. Going to be very defensive for now

[Mike Tielke @mtielke1]

@mwebster1971 Yessir! Same with How to make money in stocks of course. New lessons every time.

[Mike Tielke @mtielke1]

@preppytrader "Piece of shit company. I'm long" 😆

[Mike Tielke @mtielke1]

I believe I should have done more selling today. I had a hard time getting rid of things that I had a large profit cushion on. But I also was trying to balance "hold your winners longer". Ultimately, I should have realized that "break even" was too far away

[Mike Tielke @mtielke1]

Started a couple shorts last week (HWM 8/13, MSTR 8/14). Have been selling a bunch this week (bye bye BTC AMD HOOD all winners). Still holding 1/2 NBIS PGEN NAIL; 1/4 PLTR ETHU URGN. Losses today in UUUU IINN (full Rs). Selling is working better right now... But for how long??

[Mike Tielke @mtielke1]

@preppytrader Contarian opinion, aka "what I want" haha

[Mike Tielke @mtielke1]

@preppytrader You've been riding the wave from what I can tell. The consensus expectation seems to be 5-10% market correction. My contarian opinion is that this was selling capitulation today (eg: PLTR). VIX didn't spike though like I would expect for that theory though... 🤔

[Mike Tielke @mtielke1]

@Dexerto But did he also not turn on the AC in the summer or heat in the winter?

[Mike Tielke @mtielke1]

@TaPlot $NRGV

[Mike Tielke @mtielke1]

@preppytrader Thank you for your patient and detailed explanation 🙏👍 I feel like trading is always a paradoxical contradiction. I try to find that fine line between two concepts that are total opposites, but still are both true somehow. It's so interesting, and that's the "art" of it all

[Mike Tielke @mtielke1]

@preppytrader Ok I see what you mean. You don't change your rules, you just utilize different tactics that work better in certain conditions. Sorry if it's a stupid question - I've noticed when I adjust my process, it's always at the worst time. The market changes right when I finally adjust

[Mike Tielke @mtielke1]

@preppytrader Side question relevant to TGEN: you noted the other day that stocks were undercutting the ORB, so you wanted to be mindful of that. How do you decide between making adjustments to rules to adapt to market conditions, versus maintaining rules (like stop loss under ORB).

[Mike Tielke @mtielke1]

@preppytrader Let's do it