No Journal - This is the biggest, most important element of trading! Documenting your losses, finding flawed habits, and making a conscious effort to fix those habits! It also will highlight good behavior (strengths), familiarity with certain stocks as they each have their own cadence! e.g., TGT does not move as fast or violently as NVDA. Most importantly, the journal is a contract with yourself, to improve and continue improving!
Attempting to Become Your Own Get Rich Quick Commercial! - What you see on social media of wild gains come with either stupid degrees of risk, or fairly large ports! I myself with a quarter-million-dollar port on average only stand to make $2,500 a day with (1%), but the numbers get larger exponentially, 2% = $5,000 = 3% = $7,500. Don't be impressed by $ - but %'s = the magic sauce to financial independence! All it takes is (1% a day)
Large Positions in Any One Play! - 10% is the max; 5% should be your norm! 5% equals 20 plays! But you'd be surprised how often you hit your 1% goal with smaller positions and less capital exposed, it might happen in 2 to 3 plays! Give it a try! It will change the game for you!
Stop Losses Are Meant to Be Hunted! - It gives an illusion of a failsafe! But only, only, only makes sense when you're attempting to protect profit! Not protecting a just-opened position! Always mark a place on the chart where YOU will manually close a position at candle close! I teach this in master! Pre-programmed orders are stupid, after all, why would you show the enemy where you're located? But with a manual stop always protect your pre-drawn level!
Design Your Trade - I teach @Master to design their trade! Meaning never chase the candle! Always have your trade plan defined and let the trade come to you! Always let the trade come to you, and never ever betray your plan! FOMO is what we label chasers, bag holders are what we label those who chased late! Be neither! Be the engineer, plan a risk reward of 1.5 or greater (this is a rule) - planning your trade is the opposite of falling for market traps but rather have the market fall for your trap, which one sounds more in control?
Bonus - Don’t be a know-it-all, don’t overcomplicate the system, the thesis, or your process! Keep it simple! Do you see me using unnecessary trade lingo? Lines, fibs, trend lines, candle patterns, fancy bam methods, no!!! Why? Cuz less moving parts equal a more reliable product! Make your trades more reliable and be less is more like Honda, not PHD level engineering like Mercedes….
Tune in to masterclass, take the next step in accountability. $1348 sounds like a lot, but so does losing $15,000 - the next 30 days with me will change your life! I promise! Upgrade to @Master today!