Thank you Matt, That seems a great trading strategy … Identifying trades inside the wedge with an applicable stop.

    guys listen I know trading

    Posted by matt on 21st of May 2020 at 10:08 am

    guys listen I know trading is hard, especially the mental aspect and discipline and focus. The focus is what I struggle with because we watch so many things because of the website. For you guys, I know we have a lot of trade ideas at times, a lot of stuff, but try to narrow it down and focus on one or a few things.  Maybe it's gold stocks for a while and even there if I have list 10 gold/silver stocks, don't trade all them, they tend to move together, pick 1 or 2 or the ETF. Maybe it's the SPX, more a few of the trade ideas.  When you look at the analysis and trade ideas I'm sure some trade ideas stand out to you more than others - maybe you see one or two of our ideas amount 10 that really stand out to you, focus on those and ignore the rest.  Don't try to do everything.

    And as far as trading, Steve always comments: trade your plan etc. However I know some of you are trying to formulate a plan still and I fully understand that.  That's why a lot of my blog posts are very detailed, explaining like stops,  constantly raising your stops to each new higher low.  I talk about how I try to buy inside patterns using smaller time frames, so if I see a daily chart I'll zoom down to a 60 and 15 min chart and see if I can find an earlier trigger so I can have a very tight stop vs waiting for the stock to breakout where I have to a have a wide initial stop.  I talk about MA ribbon pinches, symmetry, also money management. And if you've noticed I spent a lot of time in my newsletters on this stuff - which is why my newsletter last night was 35 min instead of 20, I spent that extra time trying to show you things that have taken me 20 plus years to learn.

    now tyng it all together:   Like Steve always says trade your plan:  Well as many of you are still trying to formulate your own plan in the end you have to formulate a trading plan that makes sense for you, what I do is not what Steve does.  HOWEVER that's why I throw out ideas and education all the time  -  think of them as puzzle piecesthat you can pick and choose from to build your own puzzel, as ideas to formulate your own plan.

    okay back to market

    Yes but first one MUST

    Posted by steve on 21st of May 2020 at 10:22 am

    Yes but first one MUST define a STYLE/METHOD  to how they want to  trade - discussing stops and entries is NOT a style/method which is a much broader concept.   What we primarily discuss here involves more specifics that you can employ as PART of your method.    Think of a successful  football team - they develop an identity (you need to to that as an investor/trader) that fits their  roster (plan that fits your objectives)  and then work down to a game plan and then specific plays (while making adjustments along the way).  Things like entries/stops relate to the specific plays.  

    Thanks, Matt. For understanding the

    Posted by mdgfain on 21st of May 2020 at 10:15 am

    Thanks, Matt. For understanding the little guy and helping us figure it all out. 

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