Book Recommendation (Prepping for Success)
by Cliff Clark
Prepping for Success
By Anmol Signh
I know Anmol as many of you do. He is one of the best traders and trading educator's that I know. “Prepping for Success” surprised me a little bit because it's not just about trading but presents concepts that can be applied to all areas of your life. Here is the description of the book from Amazon.com.
A SIMPLE GUIDE TO A BETTER YOU!
Prepping for success is a guided journey that equips you with the principles you need in order to take advantage of your innate inner talents to achieve true success.
The 10 keys allow you to not just understand yourself, but they also teach you how to express your best self to others. This enables you to be the best version of yourself.
This book is an inspirational, light-hearted guide to help you put your plans into action. It offers an understandable and relatable step by step approach to discovering yourself and achieving your own personal true success.
In a world where there are so many choices and distractions, this book is dedicated to helping you find a balance through it all.
Are you ready to begin your Journey towards true success?
"With this book, I hope to bring to the readers the main key concept that's have helped me in my life and have made me a better and a more productive person; as I too Prep for Success. I am writing a book that I wish someone gave me 10 years ago, Would have made life so much easier" - Anmol Singh
This is not a business book and this sure isn't a trading book. This book is about achieving Success in Each and EVERY area of your Life.
While there is nothing new in the book it should be a great read for anybody. I am familiar with the concepts presented in the book. I found it to be a good refresher for me. I highly recommend this book whether you are familiar with the concepts or they are new to you.
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.
