When you recognize powerful patterns setting up, it creates opportunities to grab gains. Sounds simple right? But if it is that easy, why aren’t we doing it all the time? The list of answers to that question are too long for an email, but there is a way to wipe out some of the biggest reasons at the top of the list.
Time and Discipline
Often we create a great system, It works well, we see it spotting great trades. We may even grab a couple great wins. Then the demons creep out. If it worked that good last time, maybe I can make it work better by tweaking this one factor. Or it won three times in a row but hasn’t won since, maybe I need to change some thing. We quickly start down the slippery slope of failure as our self discipline erodes.
Or, we were doing great over and over and then life happened. You couldn’t get logged on that morning to research the charts or the pattern played out perfectly on a stock you didn’t have time to get to.
Take a look at this solution to the problem. Here is what came into my inbox on October 19th:
Action to take:
- Buy to open MSFT November 19, 2021 310 calls at market this morning.
- Sell to close half of the AAPL November 19, 2021 145 calls, which last traded at $6.20 from an entry price of $4.85.
At the moment, our MSFT November 19, 2021 305 calls — picked up at $5.79 — are now up to $9.35. We’re holding these for a bit longer.
At the same time, let’s buy even more MSFT calls, as the stock breaks above heavy resistance. From a current price of $308.44, we’d like to see a near-term test of $315 a share.
Very simple, great explanation, and took all of about 60 seconds to read and act on.
Now look at what came into my inbox just 10 days later:
Action to take:
Sell to close second half of the MSFT November 19, 2021 310 calls for a win. We recommended the calls at $6.05. They’re now up to $16.85.
That is 178%. In ten days.
As much as we’d like to think we can do it all, it just isn’t true. Sometimes we need to use the resources we have available to us. This alert came from Ian Cooper’s Trade Alert 365. It cost’s a buck to start seeing these in your inbox and I can take it or leave it after I have read each one. The truth is, I have seen it work and find trades I would have missed more times than I can count.
Give it a shot and make up your own mind. Click here to check it out.
Keep learning and trade wisely,
Market Wealth Daily