So i think i finally have made a break though in my learning and my trading.
i took a big step back last week after loosing 4 trades in a row, i felt like a sham and i felt like i was making a mistake pushing myself into trading the past 3-4 years, but "i can see clearly now the rain is gone".
I watch the interview Tim had with Dux and it really struck a cord with me, he had talked about that there were 2 plays that had a 85% win percentage and you pretty much couldn’t go wrong with them; and that you had to wait to see these plays, just have patience and really watch for the right plays. These two plays were shorting on the first red day after 3-4 green days in a row (promos) and waiting for the bounce after a massive panic.
so i really took this to heart today when trading BLTO because i was studying all weekend about how if i want to be profitable i need to stick to 1-2 patterns. So the only pattern i will be trading now is the bounce play after major panic sell offs (unless there is a terrible catalyst or something, Tim's DVDs have showed me to stay away from stuff like that)
and man it paid off, i know i could of waited and made a little more but the point was to have a great trade and a plan that i built myself (i am not subscribed to Tim's or anyones alerts)
In the end i have to say thank you to both Dux and Tim, being able to do this has been my dream since 2014 and this year has been the year I am actually dedicating myself to it. Thanks guys, and Tim....I hope someday soon I can be your next millionaire student
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well done!
Nice.. I liked the Dux video too..
great article......is there a scanner we can build to identify stocks with first red day?
I'm working on one right now with TOS. If yoh follow me - I'll post it once I have it. It will be a custom script.
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