3309 Drysdale Ct
Edwardsville, IL 62025
GBTC - Chart Link - love them coils, Steve
spotted that tight 60 min coil last night
Think I've finally identified my frustrations (finally!!) Y'all
trade for 50 -75cents in and out on DBA, GBTC, etc.... too quick
for me. I prefer the swing trades for weeks/months not overnight.
My first of twelve steps achieved :)
Are you still swinging GBTC? We trade what the market
gives simple as that - some say they are swing traders until their
not. Adhere to your plan including exit strategies. We
did identify an early swing weeks earlier but acted quickly on that
last 60 minute trade upon reversal. Bottom line is sometimes
you must take the quick trades even if you are predominantly a
swing trader. Trade what's in front of you by adjusting to
the message of the market.
profmel - understand but that also means you have to be much
pickier about picking your spots - when finding trade candidates
that can be held for weeks and months - that might mean you have to
wait a couple months at times for a setup - you don't find setups
like that daily.
Also TSLA we bought that a few weeks back in the low 800's,
that's 20%, that's not a 60 cent move, that's 220 points.
Plenty of short term swing ideas here say 3 days to two weeks
have moved many dollars and 10% to 50% moves on these. Things
like DBA - yeah that crap doesn't move much, we've stated that,
don't trade it if you want larger moves. We throw out ideas and
it's your job to pick and choose that fits your style - say no
these dont' fit my style but these other ones do.
also when you enter a trade - you can't just arbitrarily say you
are going to hold it for months - you have to react to
what happens - you might be able to and you might end up getting
wrong and getting stopped out. Also depends on the market -
if the market is trending up and doing well, that's easier to do on
longs. But when markets go into chop and have quick 5 and 10%
corrections a stock you bought that you planned to hold for 3
months may not pan out and you might get stopped out.
again formulate a plan, a system that fits you, stick to it.
from what you said - I think you should pick a list of big cap
stocks that you like - IBD 50 is a good list - and you look to buy
them on major dips where you can place a stop and then hopefully
hold it for months. But again that means you might not find a
setup that fits your style for weeks at at time and you have to be
fine with that
You have to be willing to be patient enough to sit on the
sidelines days and many weeks waiting for those setups, I find that
guys lose patience. I've had guys tell me: Matt I'm long term,
I want stocks I can hold for 6 months. Then after 2 weeks they get
annoyed: I haven't bought anything for 2 weeks, the service
isn't for me. It's like huh? your time frame means you might
only find a handful of setups a year!
again don't get emotional, find a system that makes sense for
you, and also remember depending on various market conditions it
will vary how long you are able to hold your stocks. You can't just
say I'm buy ABC and holding for 6 months - if the market and the
stock go up yes but if the market has a strong correction then you
might only be in for a couple weeks as your stop gets hit which you
have to adhere to
TY YES I agree and was not being negative towards anyone -- just
gaining an education daily watching you guys trade and through the
newsletters. TSLA was out of my price range but I've traded AMD
with you 4-5-6 times over the past year for 7-10 points. And
others. TY kindly for your long note in the middle of the day --
truly appreciate your words and taking the time.
No problem and much appreciated
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