Momentum Swing Trader 📈 | Sharing Trade Ideas | USIC Competitor
Learn From Me! ➡️
Joined December 2014
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Currently sitting in 5th place in the @USICOfficial USIC at 203.3% YTD.
A lot of work to be done but I am very happy with how I have been taking on this competition and my trading as a whole.
These last two months have been far from easy so if you are green on the year or even beating $SPY i'd consider that a win.
Good luck to all fellow traders.
Nick stro retweeted
HOT TAKE!
I truly believe we will look back on this time period and question why we made this trading season harder than what it ACTUALLY is.
What do I mean? Well for starters 99% of traders at the moment are so gung ho on these semiconductors and memory names and have forgotten all typical red flags vs go signals. Many traders have fallen in love with names that made them a ton of money earlier in the year that they are CERTAIN buying them now at a "cheaper" price will yield them the same return.
What happened to the basic principals of good above the 50 SMA bad below? Why have we thrown out all basic rules and started style drifting when a certain theme isn't handing us money. Forcing a trade that simply isn't there. And I'd like to preface that I am the first to be excited on a theme that's made me a ton of money in the past. However, do not let that change the real picture in front of us. The trade is not there anymore. That also doesn't mean it won't come up again but it does mean the wind isn't behind your sails.
You can't convince me that you've taken the time to look at stocks in the $IGV and are still sure $SMH is the stronger group at the moment. Software stocks are showing some insane strength and ignoring this can cost you big time. Not only because you have not been making money in this group but because your focus was elsewhere and in groups like semis that simply have been chopping you around for months. Death by a thousand cuts.
$PANW
$CRWD
$PLTR
$TEAM
$CRM
$ZS
$FIVN
$RBRK
$NAVN
$DDOG
And there is a ton more. A lot if not most of these names are close to 52 week highs where as the names you are chasing are down 30+% from peak.
I know how it feels to lose money on a stock and feel the need to make it back on the same ticker. But I can assure you this is not a winning mindset. Take it on the chin and move on. Stop being stubborn on something that does not care about how you feel.
Let this weekend be the one you shift your mindset from revenge trading to being detached. That money you lost is not yours anymore so start off with a clean slate and understand you are only hurting yourself.
Stay Safe!
Is anyone prepared to buy good stocks at good prices? (Defined risk at support, not "Cheaper" because its lower)
Or is everyone burnt out by now trying to bottom tick the market?
HOT TAKE!
I truly believe we will look back on this time period and question why we made this trading season harder than what it ACTUALLY is.
What do I mean? Well for starters 99% of traders at the moment are so gung ho on these semiconductors and memory names and have forgotten all typical red flags vs go signals. Many traders have fallen in love with names that made them a ton of money earlier in the year that they are CERTAIN buying them now at a "cheaper" price will yield them the same return.
What happened to the basic principals of good above the 50 SMA bad below? Why have we thrown out all basic rules and started style drifting when a certain theme isn't handing us money. Forcing a trade that simply isn't there. And I'd like to preface that I am the first to be excited on a theme that's made me a ton of money in the past. However, do not let that change the real picture in front of us. The trade is not there anymore. That also doesn't mean it won't come up again but it does mean the wind isn't behind your sails.
You can't convince me that you've taken the time to look at stocks in the $IGV and are still sure $SMH is the stronger group at the moment. Software stocks are showing some insane strength and ignoring this can cost you big time. Not only because you have not been making money in this group but because your focus was elsewhere and in groups like semis that simply have been chopping you around for months. Death by a thousand cuts.
$PANW
$CRWD
$PLTR
$TEAM
$CRM
$ZS
$FIVN
$RBRK
$NAVN
$DDOG
And there is a ton more. A lot if not most of these names are close to 52 week highs where as the names you are chasing are down 30+% from peak.
I know how it feels to lose money on a stock and feel the need to make it back on the same ticker. But I can assure you this is not a winning mindset. Take it on the chin and move on. Stop being stubborn on something that does not care about how you feel.
Let this weekend be the one you shift your mindset from revenge trading to being detached. That money you lost is not yours anymore so start off with a clean slate and understand you are only hurting yourself.
Stay Safe!
I truly can't see how forcing trades on stocks under key moving averages is the answer here.
Why style drift now? You knew using this momentum style a lot of us trade works certain periods a year. Why try to click buttons when the style is not providing the asymmetric risk at the moment.
I can't recall the last time I made a boat load of money on a stock under the 50 SMA. Let alone being able to do it repeatedly.
I'll miss the first 10 20 even 30% to catch the following 300 400 1000% move after repeatedly.
The biggest hurdle in trading is by far the mental game. Learning to accept the uncertainty that comes with every decision you make.
And besides, most people in this niche are trading the same tickets and similar setups. What’s making the difference?
There will always be something you can look back on and convince yourself you could have done better. You could have entered earlier, sold higher, held longer, taken profits sooner, or avoided the trade altogether.
Develop a process you can be consistent with and make decisions that won’t take a toll on you mentally, regardless of the outcome. The goal isn’t to make the perfect decision every time. It’s to make a decision you can stand behind, whether the trade works out or not.
Judge yourself and grade your trades based on the quality of your decisions, not just the outcome.
Nick stro retweeted
1 thing I'll always respect is work ethic, especially from the younger generation here on X.
There are some young bucks putting in serious hours who don't get nearly the recognition they deserve. Age means absolutely nothing in this business; results are all I care for.
A few young bucks I keep up with weekly:
@Nickstro_
@vstocks7
@YousufTrades
@insidegadsmind
@luke_vol
@ashtradin
@HenryInvests
Keep grinding, lads.
Am I missing anyone?
Drop some recommendations below, I'd love to find more young traders to connect with.
Some people are going to sit and argue that there is more to this.
Fortunately for us, there truly isn't. This is the large majority of showing up each trading day.
We try to look around and dive into different indicators but ultimately this is what it comes down to.
We are meant to be snipers in a sense that we shouldn't be invested all year round 90% of the time.
Why punish yourself every day fighting tooth and nail out of drawdowns for no reason.
Wait for fat pitches. Don't try to catch the first 5% when the move is setting up for way more if you're patient.
Nick stro retweeted
As a growth trade when you ask yourself-
1- where are the leaders?
2- where are the set ups?
You can eliminate wasting a lot of time and potential losses.
In the yearly stages of your trading career, drawdowns are OK and in some instances encouraged.
That is, if you take it and learn something from it.
However, if you don’t and you continuously repeat the same mistakes then maybe you should reevaluate.
As many of us have noticed momentum names have not been working. No traction no good setups. Bases breaking down. No follow through etc.
I am a huge advocate for not clicking buttons when things aren’t working. However, I do believe viewing the action from the sidelines as a spectator as opposed to trying to be involved in the markets during this time can be very beneficial.
Learning how the market acts when it is a risk off environment will be key for your growth as a trader because if you don’t see how the markets break day day by day or shape back up eventually you won’t truly have a great feel for the market and trends to be cautious for.
This is an EXCELLENT time to TRACK stocks not TRADE them. You can make yourself a decoy positions list. “If I took this 4/10 setup in this environment using XYZ (breakout, unr, oops reversal) setup would it profitable over time? Would it be worth the emotional toll? Would there be an edge over just weathering the storm?
Nick stro retweeted
Whether you like to admit it or not, this is topping action. Markets super choppy (including leaders), no follow through on bases that typically would have strong closes in stage two uptrends, and market theme hot potato every single day.
This isn’t to say this is the end of the uptrend but it is a risk off sign. Sure, 2/10 stocks on your watchlist may break out. But will they let you get in with size? Will it stay strong for longer than 2 days, and respect moving averages?
This is not the environment that allows us to push the gas and make triple or even quadruple our accounts. This isn’t the asymmetric risk we’re shooting for.
Pick your spots wisely and gear up for the time the markets giving endless opportunities like it did in April. They’ll come up again. But it’s your job to preserve your capital until then.
I feel as though more people should be happy with what’s happening in the markets.
I’m confused? Most setups were not sticking. Would you not prefer a healthy reset? The stocks that would breakout ended up pulling in after a few days and drilled even further. That’s not healthy action.
I’m welcoming this pullback and am ready to find some nice buying opportunities in the upcoming days/weeks.
This Saturday @Deepvue is doing a launch webinar for their Journal Release.
You can join the launch webinar here: us06web.zoom.us/webinar/regi…
