My challenge for myself this year – starting with a very very small account, and having to deal with (or maybe not?), the PDT rules. There are ways around it, I’m employing 2 of those ways, but the trade sizes then must be kept extremely small. Doing a small account is something I’ve never done over my trading career, so there has been plenty to learn, and I’m really enjoying the challenge and the experience. All of this was discussed in the conference call recently. The way I’ve set this up and approached this, I am avoiding the PDT rules, small position sizing, but I do a lot of trades.
It does not matter how many times you hear me say this, that I love the STRONGEST of the strong stocks (to buy), yet people refuse to listen to this. It’s mind-boggling. So you guys continue to struggle with your trading of stocks, and that is a huge reason why. Many reasons for it, but an important one. Another reason is you guys are trying to predict, analyze, guess, figure out. Instead of patiently waiting for the probabilities, the setups, the process to literally tell you what to do.
Also, as I constantly talk about – if your goal is to be an outstanding stock trading performer, then you MUST be trading, on a consistent basis, at least one of the #1-#3 stocks of the day. Below is the list of the top stocks of the day. In the video I discuss my trades today in 4 of those top 5 stocks, and I’m doing these trades in a very small account.
The #1 stock was ATAI again. My very solid trades in ATAI from just yesterday are discussed here. I also traded EPE, INPX (short), CFRX, MGTI.
Super helpful. I also had been trying to apply your setups to my personal favorite stocks, usually laggards, now just on the daily leaders and wow a difference. Thanks as always.
Good Dave, now take it and really move forward, discover your own way of profiting from your realization of this. And 2 years of preaching about 100% focusing on THE strongest trends, and you are literally the first person who has told me that.