Tips Tricks and Observations
The only thing I can control in a trade is my risk or call it my loss.
To the professional trader making the right decision matters more than winning or losing money.
Chasing will kill a trader.
Ego, Anger, FOMO, Greed and Fear ruins a trader.
Stocks always return to the 20 sma, 50 sma & VWAP use this knowledge to gain an edge over the market.
Remember the feeling of losing and use that to enforce discipline on yourself.
The market only moves 3 ways, up, down, and sideways. These trends are based on Greed, Fear and Uncertainty.
Your winners are hiding in your losers. Find the common denominator in your losses to increase your wins.
Mentally add a zero to your profits and losses to make yourself take them seriously.
83% of losing trades are going against the 20 sma.
On extremely volatile days trade smaller stocks and slow flat days lager stocks.
Healthy moves should not be pulling back and breaking the igniting bar.
Premarket support and resistance levels are very important in trading the first 5-30 minutes and beyond.
Only trade with the trend of the stock, trading with a matching stock trend and SPY trend greatly improves the odds of winning.