Steps you can take to make serious money trading | stockbee

2/16/2018

Steps you can take to make serious money trading



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However imperfect it is start first by setting up a process flow for trading any setup you like.

Setups are set of conditions that must be present to trade a stock. Setups are often also called trading strategies or patterns. There are many profitable setups in public domain which work very well. In 18 years of trading the markets I have not seen a secret setup. (many claim they have secrets , but dig a bit and they are just public domain setups cleverly marketed as secret sauce.)
I have extensively written about the setups I use and detailed them multiple times. They work for me and many people over the years have used them , adopted them , refined them.
The most important key to making money from any setup idea is to convert it in to process and fine tune the process. Just trying it for one week does not work. 
4% breakout, $ breakout , Anticipation , Episodic Pivots, Lemonade Strategy, momentum burst are some of the setups I trade and I have detailed them here. 

If you like $ b/o setup a process to trade it
If you like 4% momentum bursts setup develop a process flow
If you like anticipation setup develop a process flow
If you like trading news and upgrades then set up process flow
If you like CANSLIM, then setup process flow to find and buy IBd kind stocks
If you like EP setup process flow to trade them
If you like to buy near 52 week high setup process flow to
If you like to trade earnings setup process flow
If you like to trade stocks that go up 300% in a year setup process flow to find and buy them
If you like Lemonade strategy set up process flow to trade it
If you like to trade others picks setup a process flow to find and trade them
If you like to trade IPO setup process flow to find and trade them
If you want to trade options setup process flow to find and trade them.
If you like to trade stocks that start with A setup process flow to find them
If you like to trade stocks that start with Z setup a process flow to find them

Unless you have a process no miracle can make you good trader or investor.


Process orientation will make you an independent trader not dependent on others picks. It will help you develop confidence.
Once you have process you can start to improve it.
Once you have process you can do things in less time and start to focus your efforts.
However imperfect your process , it is the first starting point to becoming profitable trader.
Unless you understand that and internalise that you will continue to flirt from setup to setups or newsletters to newsletters or one stock picking service to another stock picking service. 

In the beginning run only one or two processes. Your brain will not be able to handle many processes simultaneously. So be less ambitious .

First question you should always ask is what is the process to do this. 
You read a trading book  by Market Wizard, fine but unless you have a process to convert that books trading idea nothing will happen.
You see some Twitter personality claiming he has made millions, fine , but unless you can replicate the process you are not going to make 100 dollars. 
Always hunt for processes not stock picks.  

Stop following others picks

Doing that will make you dependent instead ask what is the process flow the person uses.
Unless you have a process nothing happens. Once you have process you start finding trades. Once you have a process you follow it to enter those stock. Once you have process you know when to exit them or put stop.
As you trade more a process you will find simpler ways to do same thing. Once you have one good process for swing trading going well then you can add more processes.
If you want to make money trading 4% breakout , setup a scan , process flow and then follow it . If you do it right you will find and trade exactly the same stocks I find using the same setup. 

When developing processes think simple.

Simpler a process and less the steps involved in it easier it is to perform. If your process involves 10 steps something is wrong with it.

Learn to be process focused and money will come over time. It takes years to master a process. Darvas struggled for 7 years before perfecting a process flow and then made 2 million in 18 months. Most Market Wizards struggled for 10 years before doing well.
All setup ideas I trade are very simple. They do not use complicated indicators or fancy maths. A 10 year old can understand my setup and processes. My daughter started doing this when she was 10 and she can run all my scans and processes on her own .
Become process oriented if you want to make money trading . Start today.

There is no magic in the scans I use

They are very simple scans and by just using those scans you will not go anywhere unless you design an efficient process flow around it.
Once you have process in flow things happen automatically.
Become process oriented today if you want to make millions of dollars trading....

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