I made two big trades yesterday – one a big loss, the other a huge gain. What is still a big gain for the day, $5697, could have been bigger had I stuck to my plan and not let the emotions of missing out cause me to short to early. Watch the video below as I explain in detail both trades:
First, lets talk about the loss. I let myself get caught up in the all the craziness with $AEZS and $KBIO tanking and saw a short where there clearly wasn’t one. In reality, $VLTC was a first-day momentum runner with strong volume and some picture-perfect intraday flags. Lesson learned: don’t let what’s happening in the market as a whole or with your other trades cloud your perception.
$AEZS was a big gainer, but it didn’t start out that way. It gapped up big and I shorted too early and was then forced to cover for a significant loss. But, I continued to watch it as I still thought my original short thesis was correct. Sure enough, after peaking out and forming a head and shoulders pattern, it broke below it’s opening price and plummeted, ultimately giving me a net profit of $10000 on the stock. Lesson learned: Trust the process. Don’t jump in until the setup is there. And once I’m in, continue to ride it as long as the setup is valid, adding or subtracting from my core position as the action dictates.
If you’d like to learn how to trade like me – utilizing a host of setups and techniques to make big gains both long and short – checkout my 60 Day Bootcamp. It’s a comprehensive course teaching everything I know about trading. After the first month of live webinar class sessions, we spend a month meeting three times a week to see how what you’ve learned is used in the actual market environment. And then, before you go out and risk your real money in the market, you spend a month on a simulator, applying everything you’ve learned. If you have any questions at all, or want to learn about our generous payment plans, hit me up at firstname.lastname@example.org!
P.S Happy Thanksgiving from my family to yours! I am back home this week trading from my parents house where it all started.