Take a look at some of my Trades
Using the best tools and years of experience I’m able to profitably trade stocks despite choppy market conditions.
I only trade the best setups each day. One of the things I learned during my $1k to $8653 challenge in 1 month was that EVERY trade has a cost. As soon as you get filled you are in the trade with at least a $20 loss due to commissions. If share size is large, the loss will be higher. That means if you aren’t making money immediately, you are losing money. I’m spoiled because I’ve been trading with Speedtrader for so long and their commissions are ridiculously cheap. But the reality is, that’s not where most of our students are trading since over 50% of our members are below the PDT requirement. So trading less and only taking the best setups is good for me, and it also teaches our students important discipline.
Mike, our Chat Room Moderator and Day Trade Instructor, talks about trading like a sniper. He sits and waits for the best setup, and when everything lines up, he fires. Each shot has to count, and he doesn’t go for anything that doesn’t meet his criteria. Here’s the thing, every trade you take caries risk, and has a commissions cost. Even if you get reduced commissions, you still have to deal with the inherent risk of single stock exposure. Stocks can get halted mid-day breaking news, and suddenly drop like a rock. (check the chart from $VCEL, a nearly 50% drop in a matter of minutes).