When you go scanning through charts you will be amazed at the setups you will find. Institutions set up the charts and our job is to find them before they move. Do the homework and the setups keep coming.
When I find a sector ETF with a nice setup that's about to breakout I go dig in and find the best ticker's setup in that sector. ✍️ Sector rotation is the life blood of a bull market.
If you haven't noticed by now most of the big moves start with an earnings gap up. Pay attention during earnings season and take note of gap ups. It's kinda like a cheat code for finding future leadership.
I love this community and feel like I finally found my place where I belong. I get up everyday around 4am no alarm and dig right into the charts. You can't fake passion and if you don't love the process you will not make it.
When you follow the sector ETFs you can see the setups develop prior to the rotation. If you put in the work you can follow the "smart money" as it rotates around the market.
I learned to trade options because I'm good at reading price action and wanted to be able to capitalize on fast downward movements. I developed my intraday puts strategy off the "h" pattern. It has changed my trading forever.
If a stock gaps down below my stop especially on low volume. What I do is take my stop loss order off and I will place it below the low of the first 15min candle. This is commonly referred to as the 15 min rule. This will often times keep you from being shaken out of a trade.
We are all so blessed to have this platform to learn from. you never want to be the smartest guy in the room. If you can't learn something on X you are following the wrong traders.
I will be taking tomorrow and most of next week off from trading.
Traveling next week and no reason to press my luck.
Weekly watchlist will still be out this weekend.
Currently up 151.61% YTD
It's still hard for me to grasp that I have gone from being a professional fisherman to being followed by some of the best traders on X. Just goes to show if you put your mind to it you can accomplish almost anything. Don't go for average go for elite. EST 🎣
Stop trying to trade all the time. Be very selective and patient. Overtrading kills performance in the long run.
Learning what setups you trade the best and waiting for them to develop is a superpower.
I keep getting asked why I don't have a paid discord. The answer is simple, because I don't need your money and I like helping people. Knowledge is powerful.
Woke up at 4am jumped right into some charts. Then had to go run a 6hr fishing trip. Come home and jump right back into the charts. I'm not sure if it's passion or a sickness but I can't get enough of the chart work. 🖥
Most people don't want to do the chart work. They want someone to tell them what to buy and when. I didn't like that much so I dug in and learned to find my own setups. The years of chart work has sharpened my skills beyond my wildest dreams.
Decided to take tomorrow off from trading. Had a huge day today and don't want to spoil my fun for the holiday trying to press my luck. Taking my family out on the boat to the island for some beach time. 🏝
Good luck and stay focused on the charts.
You probably notice by now I like stocks at or near ATHs and you would be correct. I was taught things that appear expensive tend to get more expensive over time.
Think of a Rolex and a Timex. One will be worthless in 20 years and the other will be worth much more. ✍️
When it's easy to find quality setups then it's risk on. When setups are hard to find then it's risk off. A simple but effective way to analyze the market.
It was scary to quit my job without a steady income stream but I decided to go after my dreams and never looked back. Now I make my own schedule and make 5x what I was making working for someone else and get to spend a lot more time with my family. Best decision of my life.
I continue to get the same question over and over. "How do you find setups and what scanner do you use?" The truth is I only use the new ATH scanner and find my setups manually scanning my watchlists one chart at time. I consistently put in the work and it is paying off.
Before I use to think posting setups was giving away my work. But I swear the more I post the better my setups are doing. Maybe just a coincidence 🤷♂️
If you thought trading was going to be your get rich fast ticket reality is probably setting in fast. This game is not for the faint of heart. It takes courage, grit, self confidence, commitment, persistence and most of all a never quit attitude to succeed.
During earnings season I make a special watchlist of PEGs so I can scan them as a group very quickly. Many will likely be leaders are the following quarter.
When a stock goes up fast it's natural to pause and go sideways to digest the move and wait for the MA's to catch-up. This will create a flag or base and give a clear entry point when it decides to go higher. Block out the noise and focus on the levels.
People out here paying for discords and the Capt. is posting winners weekly for free. Karma is a beautiful thing. Helping people actually feels better than making money. 🤔
If it was easy everyone would be doing it. The truth is that most people just don't want to put in the time and do the hard work it takes to become successful.
No one was a pro baseball player in little league. It takes a level of dedication most aren't willing to put forth.
Scanning for setups is like a scavenger hunt. You never know what you will find until you dig in an go hunting. The institutions setup the charts and it is our job to find them before they move.
The main reason I gave up my discord is because people would make a lot of money swinging options when the market was trending up, only to get over confident and end up blowing up their accounts when the conditions would change. Respecting risk is key to longevity in the market.
Before the market opens have a list of tickers you are interested in written down with full game plans. This will help from being overwhelmed when the market opens.
$ANET another example of a stock putting in a new ATH pulling back this time to the 50ema finding support before pivoting and bouncing back to another new ATH. Anyone starting to see a pattern here? ✍️
People keep asking me the same question. Where do you find all theses setups? What scanner do you use? The answer is simple. I find setups manually by scanning my watchlists with my eyes. 👀
Do the homework and the setups keep coming. 💯
$DELL buying support can be scary at the time but having a defined stop always helps me get over any fears. Nice volume confirmation as it pushed back into the gap above.
$AMAT another example of buy the first pullback after a new ATH. The inside day was the clue a pivot was coming. The best trades will often times make you a little squeamish when you take them.