Peter Griffin

Swing trader, stockbee-member

[Monis @mmonis]

As a trader, capital preservation is a must.
For a company, a simplified form,
Net Income = Revenue - Expenses

Roughly for traders
Net Income = Sum total of wins - Sum total of losing trades

Every trader will have losing trades - This corresponds to the cost of doing business

Net Income as a trader can be increased by,
Increasing the total wins and reducing the total losses in trades.

I prioritize,
optimizing on losing trades and then working on winners

Rules to keep in check the losses, in this market (not in any particular order)
1. If you are negative on the day, do not add trades

2. I treat unrealized profit as my money, have a strict rule to not give back more than 50% of the unrealized profit after 10% position moves in your favor

3. Avoid exposure in related stocks - For example, if memory stocks are moving lower, it does not make sense to have a position in $DRAM, $MU, $WDC, $SNDK simultaneously.

4. Overnight risk:
a. Evaluate how much unrealized gains are carried forward.
b. Be mindful of the overnight margin in choppy conditions

5. Most important: Remind yourself of how to mitigate risk before market teaches you the lesson

[Ryan Pierpont @RyanPierpont]

🧵Majority of names would benefit from more time, but there are certainly pockets of strength, some examples below (some are still in range, some late). Seems like more of a “hold your runners market” vs new buys, but you never know. Day by day. Have a great long weekend. 🍻

[Peter Griffin @Simpletradingz]

@mmonis This breakout is not really good imo. Entering now is chasing.

[Peter Griffin @Simpletradingz]

@mmonis $SNDK $666 level for tomorrow could be good

[Peter Griffin @Simpletradingz]

@DeItaone @grok what does this mean

[Peter Griffin @Simpletradingz]

@AnkurPatel59 This is wrong, usually when you see the VCP, it normally takes only a few days to pop or drop. Point is you usually find vcp at its last stage.

[Peter Griffin @Simpletradingz]

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[Peter Griffin @Simpletradingz]

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[Andrew O'Connell, CFA, FRM @realpristinecap]

I’m currently in 1st place of the US Investing Championship with a +119% YTD return 🏆

A lot of people ask me what tools I use to execute my trading process.

Here are the 5 custom @tradingview indicators @JohnMuchow & I built that power my daily workflow 👇

[Mark Minervini @markminervini]

It’s clearly a challenging environment for breakout plays. A number of setups are failing before they even get the chance to move through their pivots.
Historically, September has been the worst month of the year for stocks, but we didn’t experience that seasonality this year. The bad news is we’re not out of the woods yet. Seasonally, October ranks as the third-worst month — nearly tied with February for second place. Caution advised.
Long-term SPY holders, stay the course. Pullbacks should be contained within the context of bull market.
Our $SPY Advisor Model remains on the May 8, 2024 buy signal.
November is a strong month and December the strongest of the year. That said, stock traders should always let the individual names guide you. No traction, no size. https://t.co/JXzFFTmMtn

[Ryan Pierpont @RyanPierpont]

A lot of people have too many rules. Rules are a must in your trading/investing plan but they must be simple. Your playbook should not be the length of a CVS receipt. People will have 10 things that meet their criteria on a trade setup but they won’t fire because another one of them that doesn’t meet their criteria holds them back. You just need to ask yourself, “Does it pass the eyeball test or not?”

For example, you shouldn’t give a flying f%#k if a stock is above the 21 SMA but below the 21 EMA, or worry about trying to draw an exact trend line (or whatever). That doesn’t matter, focus on the BULK OF THE SITUATION. If you think a stock that’s set up at 200 bucks can double to 400, no need to fret over getting an exact entry within a few dollars (for the investing crowd out there). When in doubt, price structure and market environment (and patience) are most important, don’t overthink it.

If you can’t easily describe/teach your rules/plan to somebody else it means it’s too complex. Simplicity is all you need to succeed. Dumb it down. Small steps of progress daily compounds over time. 📈HAGW

[Peter Griffin @Simpletradingz]

@elonmuskTN 39

[Peter Griffin @Simpletradingz]

@TMLTrader Hi, what software did you use, to get the Earning data?

[Peter Griffin @Simpletradingz]

@RoaringKitty Lfgggg

[Peter Griffin @Simpletradingz]

@mmonis Thank you for replying. I should’ve wait for a consolidation instead of went in on the fallen knife. Is that white line the vwap btw?

[Peter Griffin @Simpletradingz]

@mmonis I mean 241

[Peter Griffin @Simpletradingz]

@mmonis I enter early and got stop out around 239 and kicking myself now. Did you enter when it breaks out of the consolidation around 240 area?

[Peter Griffin @Simpletradingz]

@ia_william Thank you for your reply, I have send a request to join.

[Peter Griffin @Simpletradingz]

@ia_william I tried this but my video is not natural fluid like this one. It was basically an AI photos with voice over. Is there any setting I need to apply on Fliki?

[Peter Griffin @Simpletradingz]

@mmonis @brunk_greg Thank you for sharing, what criteria did you use for stock selections?