• LIZI could be a short watch, it’s low priced but I think I’ll do it anyways, it’s up from what like $3 to £20 pm, oh it’s already fading pm, okay we’ll see. Oh I missed it I’m so slow.
• GME it’s almost the the 50day now, guys you need to learn these just look at this thing, the stock was screaming in our faces it wanted to go down, had lower highs and when it broke the range out of the gate yesterday, look at the move it made so far, went down 38% from that rangebreak, that’s an insane move on the short side, it’s just so incredibly textbook the ranges on this stock. I do think GME will have a big bounce 100/200% very easily, I hope it doesn’t do it today I hope it goes down one more day down to like lower the better, then has an insane like 200/300% up day that would be so epic holy f*ck. Oh GME that one is rallying too, didn’t even hit the 50day, alright let’s see if it will get rejected on the 10ema though, bc that’s the one that’s been acting as resistance the past 3/4 sessions. If it holds the 10ema and starts going higher I’ll just cover my short, I was really hoping for this thing to gap down.
• GME is up 37% on the day and yet it has only retraced half of yesterday’s move, the percentage moves in that stock, crazy. GME halt on the upside. GME probably wants to go straight to 100 here, halted again damn I guess I should have covered orhs, I would be $2M richer if I had covered orhs, oh well. Let’s see if it can get rejected here, this $100 is a big level, it’s inside of this base and also the 20ema is here, I would be $3M richer if I’d covered orhs, partial position obviously otherwise I wouldn’t be in this thing anymore. GME I’m seeing that it just got rejected into the declining 20ema, and now I know exactly where my stop is gonna be, and that’s that I’m not gonna be sloppy this time, in case it wants to go to 200 later. I’m a little bit annoyed it bounce today, if this thing had gapped down another $3/4/5 to the 50day, or even undercut the 50day, I would have had a big big long position on this thing, now it’s just idk I don’t think this bounce is gonna stick, but maybe it will idk. What I’d love now is if it builds a tight range on the 60min, I would love to trade against that. Good thing I didn’t panic cover my short, looks like it got rejected at resistance, such a technically friendly stock.
• SNAP, damn didn’t open as low as I thought it would, nm I bought orhs, I thought it was gonna open a couple bucks lower, oh wait I fatfingered bought 1/10th size. I’m a little bit annoyed I didn’t see it rallied in the last few mins before the market opened it actually had a big like $1.50 rally into the open, so when I bought it orhs I thought I was buying it on the daily like here just a little bit above the 10day, just where it broke out here 55/56 level, so yeah I hope it works but I didn’t see it rallied. SNAP took out orls, and now it’s prob gonna bounce, undercut the 65ema and now it’s gonna bounce.
• TSLA still staying below the 10/20day here so far. I just can’t resist TSLA, I always have to do a starter, it’s such an easy stock to trade, high priced, ultra liquid, it’s so easy to just do some shares with a market order, you don’t have to care about slippage stuff like that.
• PINS I’m not super excited about it as an ep, bc it’s already had like a year long run, the whole move started with this ep here [31/7/2020] when it was early in the run just coming out of a long sideways base, then it had another one secondary [29/10/2020] big volume but this one didn’t go straight up, it pulled back and then it went higher, now this is the third one. Usually when you’re looking for earnings EPs you want the first or second, or the third would be fine if it’s coming out of a longer base or correction, but this one is not that long of a base, the fail rate is much higher. And you can also see the volume is nowhere near the last two EPs, it’s not really surprising anymore, yeah it beat the analyst estimates but it’s not really a surprise anymore to the market, kinda expected beat so to say.
• PENN this thing had several really really good breakouts, had one here [15/7/2020] was textbook bounced off the 50day had a breakout from that range, gapped up broke the range after surfing the 50day for a few days. Then it had one here [8/12/2020] look at this thing 5*, two picture perfect breakouts.
• ZOM when it broke out over this 1.05/1.03ish, just like that it’s up pretty much almost 100%.
• SENS yeah too late to buy it now but orhs that was the entry, either like 2.81 or the 5min orhs at 2.87, now at 3 it’s way too late, yeah 5* setup. SENS this is only the second base on it, even though it’s up a lot percentage wise it’s actually a second base, so that’s actually a really good one.
• Ofc you will be able to make money, sure, you can take money in any market, if you can’t you’re a bad trader, a good trader can make money any any any any any market.
• APPS, man also it had a big ep look at this thing, had an ep here [3/6/2020] that was the first this is where you wanna buy it ideally, the first or the second. Apparently yesterday’s EP is working too, but the odds of success diminish every time you buy it higher, this thing has just insane earnings.
• The more people starting to believe a major pullback will never happen, the more likely it will happen, that’s how the markets work, that’s just how things are. And the more people believe the market can’t go any higher, that’s when the market keeps going higher, that’s what happened the past 10years, and now after 10years of bullmarket, people start believing the market will never go lower. Even though we had a bear market just less than a year ago.
• Doesn’t have to be anything crazy but 10/15% over the next few months, then we can have some really really good setups again. I went from fearing market pullbacks to actually enjoying them, bc I know the big money comes from after the market has pulled back, that’s when the big money is made, not when the market has already run up for several months, generally.
• CLPT not really a good setup, like it was a good setup here [15/1/2021] that was a really good setup 5*. Now it’s already had 1/2/3/4 this is the 5th base in just this many months, it’s just not a good thing, the fail rate just increases exponentially. That’s the problem there are some setups but they’re all straight up, It’s hard to get any conviction.
• I don’t think data tracking is that important in daytrading either. Like it can help a little bit, but if you have a big edge you don’t need to do that much data tracking at all, I don’t, you really don’t. I’m gonna tell you rn what most people find out when they start doing data tracking, they realise that if they just minimised their 5 biggest losses in any given year they would have made twice as much money on the year, that’s it, I just saved you a lot of time. Unless you do algorithmic trading, if you’re a discretionary trader I don’t think you need to do much data tracking at all. Also another thing many daytraders find out is that the trades they make the first 1/2hours have a higher winrate than the trades they make midday, that’s it, I saved you guys a lot of time.
• On the long side it’s very hard to have profit targets that’s why I use a trailing stop, bc you don’t know if the stock is gonna go up 10% or 100%. On the short side it’s much easier bc you know the stock can’t go down more than 100% so it’s very easy to adjust for that, if you think a stock is gonna fade a lot like something like GME in my case when I shorted it, I knew every time it goes down 10-15% I probably want to cover 10/15/20% of my position. That’s it, on the short side you shouldn’t use trailing stops as much, you can use the 10/20ema on the 60min, or the daily if it’s like a lcap or mcap stock you can use the 10/20day. But it’s more important to cover into weakness when short, than sell into strength when long, much more important, bc the profit target on a long is unknown, you don’t know.
• I have a 10% drawdown maybe once per month, in percentage terms that’s just a normal fluctuation, I have a maybe 20% drawdown maybe twice per year, and maybe every couple of years I have like a 30-35% drawdown from peak equity. But look if you double your account in a couple of months, and then you have a 20% drawdown in the third month, you’re still gonna be up like 80% in 3months, so make sure your drawdowns come after you’ve had a nice run in the markets. Guys I’m gonna break something to you, if you don’t have 20% drawdowns now and then, you won’t have explosive returns, I’m just gonna put it out there. You have to find the sweet spot between drawdowns and returns.
• It is a video game, you realise after a while it’s just a video game. It’s all about knowing the game mechanics, you’re gonna master any game if you understand the mechanics, especially like strategy games, if you master the game mechanics you will be very good at that game. Same thing with the stock markets, it’s just the same things over and over again. Don’t listen to idiots on the tv or media that say ‘oh this is unprecedented blah blah’, it’s always the same things happening over and over again. It’s up to you to either be a victim or you can be in control, it’s your choice.
• MSTR this is why rs is so important, and SI, they both found support at the 20day while BTC found support at the 50day, that’s rs, and now they’re both up a sh*t load from entry. Pullbacks are a gift, bc you will find out what’s showing rs and what’s not showing rs. But if you get a big pullback like Feb/Mar2020, usually what happens the first stocks to rally are usually the most beaten down, and then next leg higher that’s when you get the stocks that have been holding up, but in a mild pullback say 5-10%, usually it’s the ones holding up the best that are gonna go up the most.
• AMRS [3/2/2021] yeah it was an okay setup, actually yeah it was pretty good, it had a false go on this day here [2/2/2021] easier to see on the 60min, tried to break this range, fell back into the base, kept building hls and then it went. Sometimes false breakouts can give you a much stronger setup later on, embrace false breakouts.
• PLL it’s actually setting up nicely, had a big linear nice move, orderly pullback, and now it’s getting tight, I would prefer if it goes sideways a bit more and builds hls, and the 20day catches up a little bit more.
• STX too short of a consolidation. My favourite ones are the ones that do the 20day base, I never trust the 10day ones.
• A breakout is not an edge, you need to buy breakouts in the right stocks, just a breakout is not an edge.