HERE'S A QUICK GUIDE TO HOW I WENT FROM UN-PROFITABLE TRADER TO PROFITABLE AND ALSO RECAPPING MY RECENT SIGNIFICANT LOSSES IN LAST 2 WEEKS. 

ELEMENTS TO BECOMING A PROFITABLE TRADER: KISS

 

THIS GUIDE WILL APPLY TO ALL TRADERS IN THEIR JOURNEY. TAKE WHAT YOU CAN FROM THIS AND APPLY IT. IF YOU HAVE TO ASK YOURSELF WHERE TO START, THEN YOU ARE PROBOBLY NEWER TRADER AND START FROM THE TOP TO BOTTOM.

 

RULES:

1.     BREAK RULES
A. TIME OFF
B. DISCSIPLINE IN OTHER AREAS OF YOUR LIFE
C. GYM
D. REPLAYING THE SETUP IN YOUR HEAD A THOUSAND TIMES

2.     FOLLOW RULES

 

EMOTIONS:

1.     REPLAYING THE SETUP
A. HOW DID IT MAKE YOU FEEL WHEN THE STOCK DID THIS?
B. DID YOU GET ANGRY? DID YOU FREEZE? DID YOU WANT TO ADD TO POSITION?

2.     BEING AWARE OF YOUR EMOTIONS AT ALL TIMES IS KEY TO GOING TOO TIME OUT

3.     STUDY ALL YOUR PAST TRADES EVERY DAY UNTIL YOU BECOME PROFITABLE THEN REPEAT

4.     WHAT SIZE ACCOUNT ARE YOU TRADING? DO YOU HAVE CASH OUTSIDE YOUR ACCOUNT TO RELY ON? ARE YOU WIRING OUT PROFITS? 1 STEP AT A TIME. WHEN YOU SEE GREEN, LOCK IT IN! DOESN’T MATTER IF YOU’RE SCALPING, THE SETUPS WILL EVOLVE BETTER FOR YOU AS YOU GROW YOURE EMOTIONS WITH TRADING.

5.     WHY ARE YOOU ENTERING TOO SOON? FOMO. WHY ARE YOU BUYING BEFORE LEVELS? FOMO. ARE YOU FORCING TRADES OVERTRADING? DESPERATE FOR CASH. ARE YOU ENTERING LOTS OF TESTING POSITIONS? THEN AVERAGING DOWN? OVER CONFIDENT.

 

PATTERNS:

1.     EDGE
A. IS IT PREDICTABLE? GOING TO HAPPEN AGAIN! AND AGAIN!

2.     PATTERNS WITHIN PATTERNS
A. UNDERSTAND THAT THE FRAMEWORK CAN BE APPLIED INTRADAY AND DAILY…WHEN THEY LINE UP TOGETHER IT FORMS MOST PREDICTABLE PATTER.

B. DIP BUYS CAN BE DAILY LIKE #5 AND INTRA DAILY LIKE FRD PANIC DIP BUY
C. TRACK SETUPS (SHOW STATS)

D. TRACK MARKET SENTIMENT VIA 1 DAY SPIKERS (# OF GAPPERS, % OF GAPPERS, CLOSE TO OPEN ON GAPPERS, SECTOR OF GAPPERS)
E. UNDERSTAND THE CATEGORY OF STOCK YOUR TRADING WILL GREATLY EFFECT THE PATTERN.

3.     7 STEP FRAMEWORK TIM SYKES IS DIFFERENT THAN 1 DAY SPIKERS!!!

4.     TREND TRACKING WITH DATES AND TICKERS

5.     CANDLESTICKS/ PRICE ACTION

6.     DIP BUYING CRITERIA – DIFFERENT PATTERNS CAUSE FOR BUYING SHARES A DIFFERENT WAY. YOU CANT CHASE STRENGTH ON A MULTIDAY/MONTH BREAKOUT, RATHER WAIT FOR CONFIRMATION BUY ON DIP BUT, YOU CAN CHASE STRENGTH ON CERTAIN OTHER PATTERNS

7.     KEY LEVELS
A. TRADE BASED OFF KEY LEVELS, IF YOU’RE NOT PROFITABLE, THEN SET KEY LEVELS AND WAIT FOR THEM TO PLAY OUT CORRECTLY.

 

TRACKING DATA

1.     SPREAD SHEETS…GET KYLE WILLIAMS

2.     # OF SETUPS TO TRACK (NEW? 1-2) (VETERAN? 3-4 MAXXXXXX)

3.     TESTING TO TAKE IT TOO NEXT LEVEL WILL SHOW YOOU WHAT PROFITABLITY FACTOR YOU’RE AT.

 

BEING CONCIOUS OF EVERYTHING

1.     VOLUME
A. CONTINOUOSLY INCREASING VOLUME OR JUST 1 DAY VOLUME SPIKES (CGC VS HUBC)

B.    WHAT TIME OF DAY IS THE VOLUME COMING IN?

C.     WHERE IS ALL THE VOLUME COMING FROM? SHORTS LONGS, WHOS WINNING? VWAP GUIDE.

D.    HOW DOES VOLUME EFFECT THE TAPE/LEVEL 2? STUFF OR SMOOTH LIKE BUTTER?

E.     DOES VOLUME COME IN SMOOTH OR SPARADIC. LOST 2K ON $ICU BECAUSE OF SPARADIC DROPS WITHOUT WARNING. DO YOU WAIT FOR THE SPIKE AND THEN ENTER? OR STAY IN WAITING RISKING A DEATH DROP?

2.     DAILY/ INTRA DAILY
A. WHEN LINED UP TOGETHER IT ALWAYS PRODUCES THE BEST RESULT ($CGC)
B. HOLDING KEY LEVELS TO A TEE?
C. FOLLOWING THE 7 STEPS? IF NOT WHY TRADE IT?
D. 1 DAY SPIKERS ARE FOR ADVANCED TRADERS AND GAMBLERS
E. WHAT DAY OF THE SPIKE OR COLLAPSE IS THE STOCK ON?
F. WHAT SIDE OF THE MOVE IS THE STOCK ON? FRONT OR BACK.

3.     SECTOR MOMENTUM
A. UNDERSTAND HOW DIFFERENT SECTOR MOVE. BIOTECH, CHINESE, WEED, AI, ETC.

4.     OVERALL MARKET
A. IS IT TANKING? THAT BREAKOUT PROB WON’T WORK
B. IS IT BOUNCING? DIP BUYS WILL PROB GO FURTHER THAN YOUO EXPECT
C. IS IT SPIKING?
D. IS IT CHOPPING UP AND DOWN? STAY ON SIDELINES

5.     TIME OF DAY
A. YOUO WILL ONLY FOLLOW THIS WHEN YOU TRACK YOUR SETUPS

6.     YOUR ATTITUDE
A. YOU WILL ONLY FOLLOW THIS WHEN YOU TRACK YOUR MOOD
B. DO YOU FEEL SHAKEY? MONDAY EFFECT
C. ARE YOU OVER COCKY? PROFITS EFFECT
D. ARE YOU THIRSTY FOR PROFITS?
E. ARE YOUR SHOULDERS TIGHT AFTER A CERTAIN AMOUNT OF HOURS ON THE CP?

7.     ASKING YOURSELF WHY ON EVERY SINGLE STOCK PURCHASE OR SHORT. YOU NEED TO KNOW WHY!

 

 

FINDING PROFITABILITY IS AN EVERY-DAY THING. YEAH, SOMETIMES YOULL GET LUCKY BUT EVERY DAY YOU WAKE UP UNEMPLOYED AND NEED TO FIGHT TO EXTRACT PROFITS OUT THE MARKET…ONLY IF THERE’S A SETUP OF COURSE.