136 [Is this the start of a larger correction or just a mild bull market pullback? Jun 15, 2020]

  • SHOP bought 2400shares orhs. Stopped out, about to trigger again and I will rebuy it, and I’m gonna do more size than I had last time. Ok let’s see if it can finally go. What can I say it just looks very strong. The 1min orhs or lows do have little bit higher fail rate than 5min or 60min, but many times you can get in earlier so it’s the price I’m willing to pay.
  • NVAX took a starter long, been building hls past three weeks or so, trying to come out of this little range. One of hottest momo stocks. Adding on taking out highs.
  • ZM new ath, this is why you’ve got to pay attention to rs during these bull market corrections. Sometimes it’s like picking up free money, not always, but sometimes.
  • Don’t think I’m gonna trade much more today, I have enough exposure, I’m in the best of the best names. ZM aths, SHOP coming out of a nice range, NVAX coming out of a range. NET has been historically a choppy name, but it’s been building relentless hls, and showed rs during market sell off last thur/fri so could really go now finally. FSLY ath, DDOG ath, DKNG short may even reverse long in a few days if builds nice setup. BILI ath, SE ath, PDD ath, BYND lagging a bit raising stop, MELI ath, ZS riding 10day, TSLA bouncing. TQQQ keeping short as a hedge against long portfolio.
  • It’s a very basic stuff, always orhs, orhs, orhs. I don’t buy pullbacks, I don’t do anything arcane. I have a very basic entry and exit criteria. And now we are gong back to waiting mode, it’s all about waiting to see how these things play out, I’m not looking for any action, I’m just looking to make money.
  • I usually do one or two entries. Sometimes I take a starter just to see how it acts, and then I add once I see price action confirm. Like NVAX, first I took a starter on 5min orhs, then I added once it confirmed (took out the highs again).
  • You always sell some into strength and then use a trailing stop. On shorts you have to cover more aggressively bc shorting works differently to going long. When I go long stuff I’m looking for a 30/50/100% move over a period of months or quarters, so maybe every 3/5/7% or so I sell 5/10% of my stock, then I use a trailing stop for the rest.
  • Guys there is no such thing as a MM shakeout, no one cares about your stops. It’s all algos, they release a piece of news, the algos got it wrong at first, or some algo got it wrong at first thought it was bad news. Don’t worry about it no one is gunning for your stops, no one cares about your shares, the market doesn’t give a sh*t, it’s all supply and demand. Sometimes sh*t just happens, no you’re not the centre of the universe. It’s like some people really think there is someone out for them, like someone is gunning their stops, no. Stops get hit, sh*t happens. I lose money on 70% of my trades. If you wanna make it in trading, you better get used to getting stopped out, a lot. It’s all about small losses and big winners in this game. You’re gonna get stopped out a lot, you’re gonna be wrong more than you’re right. Just how it is.
  • It’s all about getting to the point where you realise you are in the best things. All the stocks I’m in are the best stocks rn, the growth momo leaders. They show the best rs and it just doesn’t make sense to trade anything else rn. It’s all about waiting for new ranges to develop, it’s all about the ranges, both shorting and going long. It’s all about the ranges, just need to wait for ranges to develop.

Misc:

  • Mullen USA, look at this car, it looks awesome. Wait, is this Chinese? It says USA, hm..
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