Rome was not built in a day.
French Proverb
ONE GOOD TRADE
Learn to judge your trades based on how closely you followed “Our Fundamentals”. Below is a trade that I made and judged by these principles. Review your trades and ask how fundamentally sound your trades were. Your goal everyday should be to make one good trade. And then after you have made one good trade, your goal should be to make one good trade.
Recently, I made one good trade in MATK that I would like to share with the group. MLCO was a huge seller at 28.75, but lifted. MATK traded higher but then MLCO reappeared on the offer at 29.12. And then MLCO went to 29.10 and held that offer. MLCO held the offer for a long period. MLCO sold a ton of stock at 29.10. I got short. I followed all of the fundamentals, thus it was a good trade.
1) Proper Preparation: I was properly prepared. I filled out our a.m. sheet with the pertinent information and I knew the premarket support and resistance levels.
2) Hard work: I watched MATK trade and gathered information. I knew that MLCO was huge seller at 28.75 and when he reappeared and then went lower and held the offer, I took a position. But I watched my screen and gathered this important information. This is what we mean by hard work.
3) Patience: MLCO was at 29.10 and that is where I shorted the stock. I waited for my offer to be taken at a good entry point. I did not short this stock at 28.98. I did not force this short at a poor entry level.
4) Plan: I had a plan. If MLCO lifted I was going to cover. If MLCO held the offer at 29.10 and then came lower and held another offer I was going to add another lot to my short position.
5) Discipline: When MLCO lifted 29.10, I covered. I would have covered sooner but Mr. Spencer took all the offers for the next 5 cents.
6) Contribution: When MLCO lifted I shared this information with the group.
7) Replay your important trades: I did this. I considered where I could have gotten more aggressive. I talked with Steve about how we could have traded MATK better. Some of you might be thinking that this is an example of a losing trade. He shorted at 29.10 and covered higher. That is incorrect. This is an example of a good trade. I did everything fundamentally well. If I make enough trades like this during the day, I will be successful.
French Proverb
ONE GOOD TRADE
Learn to judge your trades based on how closely you followed “Our Fundamentals”. Below is a trade that I made and judged by these principles. Review your trades and ask how fundamentally sound your trades were. Your goal everyday should be to make one good trade. And then after you have made one good trade, your goal should be to make one good trade.
Recently, I made one good trade in MATK that I would like to share with the group. MLCO was a huge seller at 28.75, but lifted. MATK traded higher but then MLCO reappeared on the offer at 29.12. And then MLCO went to 29.10 and held that offer. MLCO held the offer for a long period. MLCO sold a ton of stock at 29.10. I got short. I followed all of the fundamentals, thus it was a good trade.
1) Proper Preparation: I was properly prepared. I filled out our a.m. sheet with the pertinent information and I knew the premarket support and resistance levels.
2) Hard work: I watched MATK trade and gathered information. I knew that MLCO was huge seller at 28.75 and when he reappeared and then went lower and held the offer, I took a position. But I watched my screen and gathered this important information. This is what we mean by hard work.
3) Patience: MLCO was at 29.10 and that is where I shorted the stock. I waited for my offer to be taken at a good entry point. I did not short this stock at 28.98. I did not force this short at a poor entry level.
4) Plan: I had a plan. If MLCO lifted I was going to cover. If MLCO held the offer at 29.10 and then came lower and held another offer I was going to add another lot to my short position.
5) Discipline: When MLCO lifted 29.10, I covered. I would have covered sooner but Mr. Spencer took all the offers for the next 5 cents.
6) Contribution: When MLCO lifted I shared this information with the group.
7) Replay your important trades: I did this. I considered where I could have gotten more aggressive. I talked with Steve about how we could have traded MATK better. Some of you might be thinking that this is an example of a losing trade. He shorted at 29.10 and covered higher. That is incorrect. This is an example of a good trade. I did everything fundamentally well. If I make enough trades like this during the day, I will be successful.
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