In this week’s study session, we covered:
- Recognizing distribution in an uptrend
- Confirmation support and resistance on backside
- Drawing trendlines using daily/monthly charts for intraday use
- Getting rid of FOMO
- Not comparing ourselves to others’ success
- Consistency and process
- Where to risk, risk personality, and being selective with tickers
John,
I just wanted to let you know I appreciate the time you take out of your Saturdays to host these trade analysis sessions. I was thinking about some of the questions during this last Saturday’s session and I think a good learning process for everyone would be to replay the chart from the open and at certain points stop the video and discuss what would be the next action if you were going long or if you were going to short the stock. I think this would create a good discussion and help others understand what’s a good practice at that point in the chart. In real time you can’t look right so you have to make decisions based on price action and I think playing them and pausing them in real time would help everyone learn what they should be looking at during that particular timeframe. I hope this makes sense. What do you think?
I think that is a great idea and it is something we have done in the past. I will try to put together a trade replay for the week of Feb 27th. Hope to see you on!