DUST provided a nice trade and I was able to make a $6000 profit within the first half hour of the trading day.
I used tactics straight from Chapter 4 of Tandem Trader.
Check out this video below to get a better idea of why I took this trade.
We’ll go over the rationale in detail. Feel free to leave a comment below if you have any questions or if this video helped you out!
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Thank you Nate, as I try to absorb the lesson in each video. As well as develop my own independent thinking, which I know you engourage us to do as traders…One thing that might prove helpful, is seeing a few losses… not to focused on the negative, but more to see how one can be incorrect, even while still seeing a lot of the right indicators (key tests of support/resistance that don’t hold) – that might be more of an psychology question. And just a reflection of where I am at in my 11 month of trading. Seems that not only is there technical skill and indicators and methodology, but there is a very VERY specific set of psychological skill sets you , Gregg, Phil, Grittani, Derrick, Splendores, and other consistent guys have.. that underlies the resilience to keep showing up, not giving into the fear and all its forms, but dealing with the fear in consistently resilient way.. which I am finding seems to then reflect in one’s account.. .so I am working on that in my path… to become able to deal with fear in a consistently resilient way (while not at all losing track of the technical skills, i.e. identifying set ups, entering, using share size according to my plan of set risk/reward, scale in scale out, and executing plan) – I am really seeming to find that what makes guys like me ( still a rookie) who experience minor profitability, and those traders that have stronger equity curves….is the fact that there is a 2nd psychological manner of how one is emotionally resilient , understands fear, and acknowledges it, while not letting fear, knock one of their plan or ability to see entrances as many times throughout a day as you and others consistent traders do…
Totally agree.
Sure good idea and I can add more .. PYPL I discussed yesterday
As a good loss – I’m in agreement and many times get excited for a trade like e had today because it checks off so many boxes of what we cover
In on it thanks for feedback
Thanks Nate… I so appreciate how you listen and and change.. just like how you listen to the market and change accordingly.. I really cool leadership. I’m thinking I am going to size down even a tad further as I keep developing.. I’d rather burn commissions, than burn an account… Though I am chomping at the bit to get into larger money.. I gotta walk before I run… Hard for a guy like me… thanks.