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Haven't posted again in a while. Notice there is about a 30 day lapse in between everything.
Some crazy shit has gone down.
HERE'S THE MAIN THING
Worked with someone who ended up costing me a million dollar in sales for a project I was on.
Straight up disrespected the work it took to make one of these sales letters blow up.
Right then and there, it made me notice something.
Alot of people are like this.
They like the idea of sleeping with tons of women, making tons of money, etc etc
but they have no interest in actually doing the work to get there.
I can compare this person to someone I had the opportunity to work with back in January and they were moving so fast - you can literally smell the hunger come off the screen. It was raw. It was real. It's what's needed.
That other guy though, it pissed me off so much that I legit couldn't function.
All I was doing the past couple of days is snarling while pacing up and down everywhere I go.
There's not many things I take seriously in life. I laugh at a lot of shit.
But this, don't fuck with me on this.
Work is sacred.
That's been the past couple of days.
One project I've been working on for a while now is about go live.
So fingers crossed on that. Hopefully it goes well but who knows...
In NY till April for my father's birthday. Once my pop's birthday comes around I go back to Florida.
In the meantime...
Drastically cutting down on my food choices.
Doing the same workouts that got me insanely shredded during covid.
ANOTHER MONEY THING
While I went back to the company HQ, I got the chance to talk with a 20-year trading veteran there.
He walked me through his process and I realized he was talking exactly about the 10:00 to 10:20 AM entry I've been noticing the past couple of months now. Even more, he made realize something incredible important.
Don't make your list the night before.
Make your list of all the stocks that GAP UP in the morning.
That's going to help you identify which stocks MIGHT be worth a trade.
Then, you watch them and wait to see what happens when the first major test around 10:00ish comes along.
There will be some tests before it but by then, that's when you know more or less where everything stands.
I'm ready to get back in this saddle after talking with him for a couple of hours.
He's making tens of thousands every day by doing it this way...
The fact that I was really close just missing this one thing...
I'm confident that I can start getting back on track.
Funny, the day I go to look for GAP UPS in the AM before market open, I find only three.
I picked some others based on how the chart was setting up.
But once I looked at the overall market
I knew today was going to be weird. Overall, it's been extended and it looks like it was ripe for a pullback.
Sure enough, tons of stocks are doing just that. Which is fine. It's healthy and needed for the market.
Just thought it was funny that it happened when I decide to get back in.
I can see how my experience though allowed me to see that.
A couple of months ago, I would've just jumped in.
Now, I'm more aware of things like this.
I did find the biggest mover for today though - Crowdstrike - before it happened based on 10 day and gap.
Something I could've done though would have been to mark the chart up for entry points like I have in the past.
If I had done that, I would've seen an entry point at 195 as it gapped down to that.
Another thing too, there was tons of buying volume at that point.
Which was even more interesting.
That's it for today.
I'm going to dentist and then getting to work on the next letter I have in mind. Adios.
PS: Something else I'm noticing. Around 1-2 PM after stocks go flat for a little bit. There's a second entry. Plenty of stocks have ripped at this time on the ones that I marked down in the morning. Something to keep in mind for tomorrow.
Just wanted to see if this gap idea would continue working.
So far, it seems like I'm finding the real movers by using this.
PS: I lied. I traded today. Got into one trade once I saw the setup I look for.
Waited for all moving averages to line up correctly.
Made close to 50% on my trade which is huge to get back what I lost yesterday. Also, reminded myself to have faith. The DKNG would've went for 200% but there's nothing to be too upset about considering how long it's been since I traded.
Looking for gaps then that retracement hold is huge. Also waiting for consolidations are helping. Will continue tracking.
I wasn't feeling completely confident with any trade I was looking at.
I ran through my routine: look for gap ups -> put them on the watchlist -> marked resistance/support levels -> and waited till 10 AM to see what I would trade.
I eliminated certain stocks off the watchlist once I saw that nothing was coming up. Once 10 AM arrived, I had CHWY and DG as my only two targets for that day. However, I still didn't feel completely confident in the trade.
It wasn't necessarily a matter of a faith as more of I wanted to watch to see if this would work again.
The stocks themselves on the daily were in wierd places. Turned out though, it worked.
So far here's what I like.
I like how clean this is making stock selection.
I like how by virtue of waiting till 10 AM, I'm eliminating trade options which makes it even easier to make a decision when the time comes.
I like that I don't have to trade if I don't feel 100% ready to make that choice.
Now, the next thing I should start considering is having a process for 10 AM.
It's one thing to notice the entry point at 10 AM but to make myself feel close to 100% confident in it
The best thing I should do is ask myself questions that make me look to prove the trade idea wrong.
"What's the buying or selling volume look like? Is it heavy or is it light?"
Light selling pressure means that the bears really aren't into bringing the price down
which means calls are likely the way to go and vice versa.
"What's the daily look like? Has the chart already consolidated?"
If it has, then it means this could be the beginning of a new trend direction. If it hasn't then consider holding off as being caught in the middle of a consolidation is one of the worst trading experiences on the planet.
"What's the S&P 500 look like that day?"
This is important because if the major indexes are in favorable positions, it makes getting into a trade easier as you can swim with the overall market trend. But if it's against your trade, expect a bumpy ride.
I'm sure there are other questions but...
When I think of that 10 AM entry to get out in a half-hour or hour from then,
this is what I believe are the most important questions to answer.
If any of these answers prove the idea wrong or unfavorable, then don't pull the trigger on the trade.
Took advantage of a quick swing got out the minute the trade started showing signs of it proving wrong.
Glad I did. Trade ended up collapsing soon after. Not bad.
There was another trade I spotted that I wanted to take.
Saw the perfect entry.
It had gapped up -> came back to resistance -> and the SP 500 was moving in the same direction.
Basically, I couldn't prove the idea wrong.
The only problem...
Didn't have enough funds to get in on it.
But that's okay. I'm happy to have spotted that trade and happy that this one little tweak to my overall method is working out. As my account keeps growing, I'll be able to get in on these. One step at a time.
My own fault. Got in too early on a trade when I should've waited for confirmation on trend.
That's okay though. Got out fast. Didn't let small loss turn into big loss.
Totally forgot I can do this.
I can write down on chart which trend the 5 minute is on so when
I'm looking for confirmation of trade I know what I'm looking for.
Either way, good day
PS: Didn't even notice it but I'm looking for stocks that GAP up in the morning. What happens when the SP 500 gaps? like today? Well shit. I didn't consider that and that's why I got caught in false moves. For next time...
When the SP500 gaps up, it's the same as the stock. You wait for 10 ish to determine where it's going to go.
If I had waited, I would've seen some great entries. Oh well, you win some and lose some.
It also helps that the stocks that gapped up were in a similar sector. Energy stocks. This makes it a little easier to trust that some kind of news is going to help take these stocks up today. No idea what it was.
But for almost all energy stocks to gap up is a huge tell something good happened.
One more thing.
I'm going to be treating this trading more as entertainment.
One thing I hate about this is how much losses or losing trades take me out of my whole day.
Like my whole day just feels ruined and that's a shitty way to live.
Just trust the process, have some fun, and let it rip.
PS: Booked another win. Read the chart.
Let it fly. Trade tried to shake me out.
But my experience is starting to shine through. I was able to read the critical point in the chart was coming.
It worked out in the bulls favor. And once it did, holy crap did this thing start running. Good day today.
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