Every now and then I sit in absolute awe at something I've discovered, but I've discovered nothing quite this big in a long-while.
It's 10pm at night, I'm tired after work but wide awake after making this realisation. I've been up and down this month battling for my first green month ever and I've never been closer. So, I went through my trades to see what patterns worked and didn't work this month, and made an unbelievable realisation.
Here we go...
'5 min U-Shape BO' < when a stock has ran in the morning and makes a perfect U-Shape pattern. As volume comes in I've bought this pattern 5 times and 5/5 I've taken profits. Even more crazy, I could have got in earlier and exited much later.
MD BO buying EOD > Buy a stock on a multi day BO at the close when it holds near its highs and has a history of gapping I've bought twice and both times took profits but left some on the table. This has a 100% record.
I consistently lose dip buying and I consistently lose buying the pull back of volatile stocks or chasing a volatile stock up regardless of whether its on a PB or not.
The answer? Scale up on what works. Disregard what doesn't. Once I'm more consistently profitable I can take time to craft the others. But for now, it's all about being green.
Profit.ly is an amazing tool for enabling us to make these discoveries. I'm so grateful for it and will implement these changes in effect of immediately until I've had a few green months. Then I'll give dip buying another go after watching A LOT more video lessons on it.
Cheers again for all the support guys.
@traderallan cheers man!
nice
@Torkers tnx man!
Great article my friend!
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