Stop Being a Dreamer, Start Being a Doer!
By Cliff Clark
Are you the type of person that follows Jared and Anmol on Twitter and dreams about flying around on those private jets, or driving all those fancy cars or wearing the fancy watches? When the lottery hits $300M do you sit around shooting the crap with your friends talking about what you would do with all that money? Do you jump from one trading system promising you riches to the next chasing that dream? I know why Jared and Anmol have all those things because I've known them from the beginning. I also know why the guys selling you those systems made it. Here's a hint. They didn't make their money from using those systems, they made their money selling those systems to you, the guy or gal looking for easy riches. Jared and Anmol got there by putting in the hard work. They put in countless hours early on so that they can reap the rewards now!
It’s okay to daydream about where you would like to be and what you would like to have in your life a few years from now, but at some point you will have to stop dreaming and start doing. The more you keep putting off those first few steps the harder it will be to get started.
If you want all of those luxuries and a comfortable stress free life (at least where money is concerned) then get to work today! Stop being a dreamer and start being a doer!
2 trades for me today with +1.5R total
1st Trade QCOM +2R
148.39/149.97 exit 143.25
12% gap down under pivot support and 50ma after a strong daily double top rejection,. I took it on a congestion breakdown with a fairly wide stop, leaving my 2R target 50c over its ATR, slow but consistent move down with great RW, hit my target on the penny before it bounced.
2nd Trade AQB -0.5R
9.40/9.70 exit 9.56
I rarely trade stocks under $10 and even more rarely short them. I liked this daily chart as it broke its uptrend channel and stayed under a strong 9.50 support line enough room to its daily 50ma. I entered after a pullback with a fairly wide stop but only 1/3 of its ATR used at the time. It failed to break down with the strong market open and stayed in a narrow range.
I actually broke my plan with this trade as I lowered my stop to a pivot where price made a big bounce earlier at 11am with a large seller sitting there. My thought was that if it breaks that level again then it will likely...
1 trade for (-1R)
I took a BD on QCOM. I was worried about the target being close to the daily range, so I took a tighter stop on the 2 min chart. I am looking through PTS right now, most of the examples have 2 options for where to put your stop. It looks to me like one of the stops would be at the bottom of the main consolidation area, and the other at the bottom of where there has been a shakeout or turnaround bar (if there has been one). Due to the daily range I took the tighter one on this. In hindsight it seems obvious to take the wider stop, but in the moment it looked ok.
I was then looking at the 15 min 3BP on QCOM, but the reason I used a tighter stop in the first place was because of the range. The 15 min 3BP would have needed to have gone even further than the wider stop on the 2 min BD, so I didn't take it.
