209 [Now is the time to sit and profit from the swing setups from weeks ago! Oct 12, 2020]

  • TSLA, I liked the setup so much I already did some premarket.
  • Probably gonna sit and just trim and trail, just don’t see anything on the short side yet, and this is the time we profit as swingtraders, the positions we bought 2/3weeks ago or last week, now we just sit, trim and trail, this is where the money is made, let the crazies daytrade, let them frenetically trade, this is not what we do, we do it the easy way.
  • PINS, this is where it broke out, low 38s, that’s where the breakout was, this is just a continuation move. If you want to make tens of millions in the markets, you buy setups like this [22/9/2020], if you want to have mediocre results you buy setups like these [12/10/2020]. Same with NIO, if you want to make tens of millions you buy setups like here [29/9/2020], if you want mediocre results you buy continuation setups [12/10/2020]. Something like CRWD, if you want to make a lot of money you buy it here [21/9/2020], this is just a continuation move [12/10/2020]. I’m not saying continuation setups can’t work, but it’s always better to buy the primary breakout, just have better odds. Any time you see a continuation setup, you should already be in it and you treat it as a potential add spot, not like an initiation setup. You’re just not gonna have great odds over the long term trading continuation setups, you should always try to get the primary breakouts, that’s where the big money is. I usually don’t add, only if I see something really good, and it also depends how big a position I have initially.
  • NVAX and MRNA both look pretty decent, they’re hot sectors, corona is getting more into the media, vax stuff, these things could go. Anytime there’s a hot sector, I always keep track of them, these are the best looking ones in the sector rn.
  • Anytime you get downticks in the market, that’s when you see the true strength, remember, downticks in the market are opportunities, nothing to be scared of.
  • RUN, I really didn’t see a short setup here, was kinda choppy, it did remind me of OSTK when it topped, but OSTK was more obvious, bc it built lhs for four days in a row and it had a clean rangebreak on the daily and 60min. RUN looks very similar, also went sideways for 4/5days, but it never built these obvious lhs, and it didn’t have a clean tight range break, it was just a hard one, I don’t see a setup here.
  • SNOW ipo breakout, this thing could be a setup orhs. It’s just breaking out of an ipo base, there’s no resistance, you only need to be concerned about support if you’re swingtrading on the long side. Who cares that there are people underwater, there’s people underwater in every stock, unless it’s hitting new aths, it’s not your job, your job is to follow good setups. It’s just a bs term for something that doesn’t exist. Like look at NFLX, look at the declines on this stock, how many times was this thing down like 70%, look at the so called resistance created here, the stock went straight up. The stock has momo and it has a good setup that’s all you need to care about.
  • Log scale makes it hard to see the chart, Arith I think it’s easier to see recent price action, I already know the stock is up a lot, I want the high res on what’s happened recently. But then there are stocks that are really beaten down, then I do it the other way round, and use the log chart to see what’s happened recently.
  • All you need to concern yourself with is the setup quality, you don’t even need to know the price, round numbers, there’s no edge in it, if you’re focussing on round numbers I think you may be focussing on the things that may not matter at all. That’s the hard thing in trading, to separate the things that don’t matter from things that matter, it took me a long time to remove a bunch of nonsense from my trading, that’s the hardest thing, anyone can identify a good setup and follow some simple position management rules, money management rules and exit rules, but cutting out things that don’t matter, that’s the hardest thing. Setups are number one.
  • As a momo trader, it’s very important to know what sector something is and what’s hot and what’s not hot, bc the sh*ttiest stocks in a hot sector are gonna go up much more than the best stocks in a sector that’s not hot. That’s one of the most important things to learn in the stock market, the sh*ttiest stocks, I’m talking stocks on the edge of bankruptcy and outright frauds, if they’re in a hot sector and get momo, they’re gonna make bigger moves than the best stocks in a sector that’s not very hot. That’s something you need to understand and build your trading strategy around.
  • SOXL can’t get above vwap, took a starter, it’s an extended etf, up 5days in a row, and now it’s building lhs and it’s below vwap, this is exactly what you want to see. I don’t know if this thing is gonna go higher or lower, but all I know is, my risk is about $2.5 and if this thing pullsback, why can’t it pullback to the 10day, that’s like $40 lower. This is a good short setup, and I have a set risk, and I may add more.
  • Chart database examples, this is what everyone should do, go back 20/30/40years, look at big winning stocks, every stock that 2/3x in a short amount of time and just look for setups, it’s the same patterns occurring over and over again, you need to build a database with setups you can review and just train your brain to identify those setups, that’s all you need to do.
  • My goal is for everyone of you to stop looking at my stream that’s my goal, I don’t want you guys here, I want you to learn from me then get lost, bc then I know I have succeeded, that’s my goal, I’m not here to extract money from you, you are here to extract knowledge from me, and when you can stand on your own two legs, get tf out of here.


  • Time duration, I think I’ll start with 5days. I’ll make it one day longer than David has been following me.
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