As of now, my trading accounts have generated over 250k since Nov 1 following your breakout methodologies. I dont want to put my name in the website and hence personally sharing with you to Thank You for being an awesome, sincere teacher.
As market conditions have improved, traders are benefitting from having sound setups and methods.
I look for trade setups that allow me to enter with 2.5% risk or less. Some people think this refers to trading capital when it actually refers to entry price - stop price .
For example if the entry price is $100.00 then I might put the stop at $97.50
However setting the stop price is only one aspect of managing a trade successfully.
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News can lead to big breakouts, and often big breakouts start with some surprisingly good or bad news. TSLA is a good example of that yesterday. A big analyst upgrade by Morgan Stanley in pre-market acted as a catalyst for this move.
Tracking news can help you find big winners if you develop a systematic process to identify such opportunities in pre-market. A daily focus on news can help you find good trades.
Just wanted to give my thanks to @easyguru and everyone putting in hard work on the site. I've been trading for several years but I've learned more in the past 4 weeks than the last four years of doing it on my own. There is a staggering amount of value here. I honestly can't thank you enough.
My account grew 15.6% in August, and if we have similar or better conditions in September, I think I can do better.
DAKT and WDFC are the kind of quick profit opportunities you can find in the earnings season.
Went up 38% today. Earnings news was released today morning.
Large earnings surprise. Good for an explosive move.
Earnings beat estimates and it is not a widely followed stock.
Many such opportunities present themselves during earnings season.
When you are not making money you have some issues and identifying each of those issues and finding a solution can help you become a profitable Trader.
On the member site, we've been running since yesterday a series of Zoom meetings with Traders to discuss this project of improving your trading in 30 days.
When you look at this kind of idea, you'll see that you can find people's problems are of four types.
Setup Problems
Process problems
Situational Awareness Problem
Trader Problem
Traders have problems because of a lot of prayers; they have found a setup found the process they know when to trade their setup, but they continuously fail to execute well because their personality profile is their personal problems interfere.
Trader problems are difficult to fix because they involve the person himself doing something which might be reflecting, which might be clearing your mind clarity which might be to create a framework which might be to find an innovative creative solution to his problem.
This is something that you have to work on to make it profitable, and this is one of the struggles which every struggle Trader goes through.
Every quarter the earnings season leads to a handful of companies. Surprising the markets big or disappointing the markets. These companies are rewarded by the market. Some make 50 to 300% or more moves in the next few months or quarters.
If you set up a way to systematically track earnings winners during this period, you can find such big winners. Even if you miss the first-day move, many of these make big moves later after a brief pullback or consolidation.
Earnings or sales surprise is what is most important to find such moves. This works best on stocks where the market has very low expectations.
The tools required to find such earnings winners are free. What is important is to have a systematic daily process to find them.
If you want to profit from such big moves you can study my previous posts on this blog about Episodic Pivots and Earnings.
Why do some make it and some do not.
"Learning would be exceedingly laborious, not to mention hazardous, if people had to rely solely on the effects of their own actions to inform them what to do. Fortunately, most human behavior is learned observationally through modeling: from observing others one forms an idea of how new behaviors are performed, and on later occasions this coded information serves as a guide for action."
-Albert Bandura, Social Learning Theory, 1977
The most important determinant of your success in trading or in your personal life is your self efficacy beliefs.
People and families with high self efficacy beliefs build successful life and are happy.
If you talk to successful traders and interacted with them on regular basis ( and many are members here), one of the most compelling reason why they are successful is they have high self efficacy beliefs.
Because of their high self efficacy beliefs they figured out profitable ways to trade. No one gave them a 1000 pages manual on trading or held their hands when they were taking baby steps in trading. They figured out things for themselves.
Almost every successful trader I know of has developed their unique style because the changed their self efficacy beliefs.
The days, the months , and the years they spent trying out different things and failing at it or losing money further enhanced their beliefs in their own capabilities.
When you commit to certain thing and surround yourself with like minded people your self efficacy get enhanced.
People's conceptions about themselves and the nature of things are developed and verified through four different processes: direct experience of the effects produced by their actions, vicarious experience of the effects produced by somebody else's actions, judgments voiced by others, and derivation of further knowledge from what they already know by using rules of inference. (Albert Bandura)
This you will find to be true in all walks of your life. If you surround yourself with highly motivated and high self efficacy belief holding people you will find your own belief in your own capabilities get enhanced.
If you work in a group dedicated to enhancing self efficacy beliefs you will often be surprised at how much you can accomplish in short period of time.
The most important determinant of your trading success will be your self efficacy beliefs. It might take some few days to understand that and some years. But once your self efficacy beliefs about trading change things start to happen.
Once that is in place your self talk will change to "hey I can do this", "hey I don't have all the answers but I am confident of finding the answers", "hey I know how to bounce back from setbacks" .
When you attempt trading some find early success and some find early setbacks. That experience sets your self efficacy beliefs.
Some people give up believing markets are too difficult or manipulated or beyond my understanding . Their self efficacy beliefs dictate their behavior.
Self efficacy beliefs are task specific. In trading implication of that is your self efficacy beliefs are setup specific. that is why you will find a trader successful in one style or time frame can often struggle on another setup or style.
Once your self efficacy beliefs specific to trading a setup change you will start experiencing success. That does not mean you will not have setbacks. If you have high self efficacy you will find a method. If you don't have it, even the most profitable method will not work for you and you will keep finding faults with methods.
Self efficacy beliefs is the biggest determinant of your trading success. Unless you work on self efficacy you will find many inhibitors and will be constantly dissatisfied with any method, guides, videos, or instructions, or site. You will constantly chase new methods, new scans, new claims, new gurus, new newsletters, and so on.
Psychologist have found that self-efficacy beliefs help determine how much effort people will expend on an activity, how long they will persevere when confronting obstacles, and how resilient they will be in the face of adverse situations. The higher the sense of efficacy, the greater the effort, persistence, and resilience.
Profitable trading involves all these challenges. You need to put in lot of effort to understand and internalize key concepts like equity selection, entries, exits, risk, risk/reward and then put it all together. In the process you will have several setbacks and false starts. If you have enhanced self efficacy beliefs you will persist in face of such adversities. If you have high sense of self efficacy beliefs then you will spend time mastering trading software, and mastering trading setups and make them work. Absent that you will abandon your effort at first hint of failure.
The research on self efficacy belief shows that self efficacy beliefs can be quickly enhanced by vicariously experiencing others perform a task. This is very important thing to understand in group settings. If you find like minded group you can save years of experimentation and struggle by watching others do things successfully.
Everyday think of how you can enhance your trading related self efficacy beliefs. Surround yourself with people with high self efficacy beliefs. Cut ties with whiners and low self efficacy belief people.
This works for trading as well as for personal and family life.
Stocks with high short interest often make explosive short-term moves when they break out. Shorts scramble to cover, leading to big buying stampedes.
EYPT is a recent example of one such stock
If you are looking for high short-interest stocks and have TC2000 you can download this list of around the top 250 stocks by the high short-interest which I compiled this week
When looking for anticipation setups, I am casting a wider net. Later in the morning, before open I reduce the list to just a handful of tickers to monitor. Sometimes keeping stock in the list while it is still setting up for breakout allows you to monitor it and enter as and when it starts to show signs of a breakout.
Import list in Tc2000 using this link
https://www.tc2000.com/~yiCtCYAXON
AXSM
COST
LIN
ANSS
JAKK
AMD
ENPH
XP
DEN
OMER
PKG
NVAX
GETY
TGH
SWBI
PG
ERX
INMD
AMRK
AUPH
MBI
GFAI
GSL
GNW
HCA
OVID
TECH
LH
SLGC
CHDN
HBIO
CHD
WCN
LOVE
FTS
EBIX
ACN
AMGN
ARLO
TRI
ARCT
ROL
MKC
DV
STNE
BKD
INZY
APP
SCLX
ARQT
ENSG
DNMR
BUR
CVAC
AVDL
SCYX
CRSR
ALKS
DTC
ABCM
SANA
FANG
VERX
TSEM
CASY
SBGI
WM
EHC
WOR
LLY
PXD
FDX
FICO
SWAV
Creating a watchlist of stocks likely to break out and monitoring them during the first 30 minutes of open allows you to enter many breakouts early.
Early entry on breakouts can reduce risk and increases profits as you also capture the first-day gains, and stops can be made breakeven soon.
This is my watchlist for the next few days; I keep adding or deleting this list daily.
https://www.tc2000.com/~1BLxaS
AXON
ERX
FANG
APD
LIN
XP
LOVE
DEN
PG
FMC
OMER
INZY
PRCT
ARCT
GETY
SCYX
EHC
JAKK
PDSB
CVAC
APP
ARLO
OVID
PR
SLGC
BUR
FTS
HBIO
ABC
CRSR
SPOK
SBGI
OSUR
KC
DNMR
HCSG
BGNE
TDC
NVAX
GATO
TGH
ARQT
MBI
ICE
VERX
EBIX
INMD
AVAV
FDX
WTW
UNP
EOG
WCN
HCA
AMD
ANSS
AMGN
FIVN
MCK
ALNY
When a stock has a momentum burst of 3 to 5 days, it explodes quickly in a short time period. As a result of this the daylight between 10 MA and the price increases. So a stop based on MA will put lot of open profits in play.
As a general rule for 3 to 5 days swings using a MA of 10 day duration is not a smart idea.
Just finished the Euro Bootcamp this weekend. The next boot camp is in April in New Jersey. Bootcamp is open to members only.
Good morning everyone from England! It was my 1st Bootcamp and didn't really know what to expect. I was more than pleasantly surprised with the valuable content and ready to use practical knowledge on pattern recognition, various set ups, scanning for set ups, timing of trades, position sizing and stop loss. I was particularly fascinated by the segment on 'Story Stocks' and how they are the ones to watch out for at the moment and in the future. I also found out about some of the weakness of my own trade management and I am going to implement the new learnings to my trades going ahead. I would strongly recommend this course to anyone who wants to turbocharge their trading journey. This could be the Wycoff's Spring we need to launch our trading to the next level. God bless EG and pray that he has a long life ahead of him to keep helping the trading community as a down to earth, common sense, no nonsense teacher and trainer. There is no one like EG out there. Lots of respect.
Another bootcamp note
This is my 3rd after Stockholm and London bootcamp. I was hesitant to join and registered at the last minute.
I wasn't expecting much gains from the training but boy I was wrong!
I got as much benefit as the in person bootcamps, if not more. And what stands out is how EG keeps improving the curriculum. He keeps changing the order of topics to make it more logical but more importantly he keeps adding material, which increases the impact of the overall experience
Next time don't miss a chance to attend an online bootcamp even if you have attended an in person one before.
I,m so glad i attended the euru bootcamp this weekend. EG was amazing. I'm going on 2 years here on the site. I have learned so much and the BC tied the pieces together. I will be at the next one. This is a life changing event. His BC you learn and have fun too. Thanks EG!!!!
I have been in this site for over a year, watched all the videos including the daily 3 videos but still the boot camp brought new sense of understanding and clarity for overall approach to achieving the dream of becoming a full time trader. Thanks to EG for the passion in which teaches. I have learned a lot, not just about trading but also about learning in general life. I am a father of 3 with full time job so the remote boot camp made it easy to attend. Thanks EG!!!'
Bootcamp:
I have been on this site for 3 months digesting everything i can. Over that timeframe I've learned more about trading than i had in the previous 3 years. While that maybe a testament to my own failings, i think it is also a testament to EG and his ability to teach. This week i took his European Bootcamp. It really opened my eyes because he was able to show me, how all the pieces of his system connect. From structural setup to process loop to SA. It is clear to me that EG has a passion for the markets and just as much passion, to teach his members; and to see them succeed. I now know by putting in the work, I will succeed.
If anyone hasn't attended a Bootcamp, it is a no-brainer. Just do it, it may change your life.
I just did my first bootcamp and I really enjoyed it.
I think that a special learning effect arises from the fact that the essential content is worked through in a structured manner within a short period of time. Even if the individual contents were essentially known, many pieces of the puzzle came together for me and massively improved my mind clarity.
Participation is therefore highly recommended.
Many thanks also for the European online version, because otherwise it would not have been possible for me with a full-time job and 2 children.
So feel free to do another online european bootcamp anytime :-)
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