sTone83 wrote a post · Aug 31, 2024 13:13

Trading summary for this week (26/08-30/08 2024)

Reduction:

$Ferrari (RACE.US)$ (-1/3) Reduce 1/3 of the position after the profit reaches 3 times the original stop loss, completing the first step.

Trading summary for this week (26/08-30/08 2024)

Added:

$Nova (NVMI.US)$ (0.3%) Buy on the first green candle after its retracement on Tuesday, the trading volume of the day was also good, and it has not broken out of the consolidation area in the following three days. Account risk: 0.3%.

$ResMed (RMD.US)$ (0.3%) Rare breakout with large trading volume after the rising wedge, discovered during Tuesday's intraday period. Although it was a bit late, after careful risk calculation, it was decided to buy. Account risk: 0.3%.

$CyberArk (CYBR.US)$ (0.3%) Discovered during Thursday's intraday period, the trading volume and price behavior in the first hour were very attractive, so it was decided to buy. The performance in the following day was not ideal. Account risk: 0.3%.

$SharkNinja (SN.US)$ I have been observing it for a long time and missed the previous few meetings. On Thursday, it tried to break through the climax flag and the volume and price behavior in the past two days were good. The account risk is 0.3%.

The above is all the trades for this week.

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* Top-tier trader experience + views 👇

Marty Schwartz

Introduction: Champion trader, in the first ten years of trading, frequently incurred losses and was on the verge of bankruptcy for a long time. After 1979, he became a top trader. He participated in 10 four-month trading competitions in the United States Investment Contest, winning 9 championships with an average investment return of 210%. The money he earned was almost the sum of the other participants.

He believes that the most important trading principle is money management.

Viewpoint 1: If I am wrong, I have to get out quickly. It's said that as long as there are mountains, there will be firewood to burn. I must maintain my strength and make a comeback.

Viewpoint 2: No matter when you suffer setbacks, you will feel very upset. Most traders, when facing major losses, always hope to immediately recover, thus increasing the stakes more and more in an attempt to turn the situation around. However, once you do this, it means you are destined to fail. After I was hit hard, I would immediately reduce my trading operations. What I did at that time was not about making more money to make up for the losses, but to regain my confidence in trading.

Viewpoint 3: Anyone who engages in trading will experience a period of continuous profits, such as my ability to make consecutive profits for 12 days. However, in the end, I will definitely feel very tired. Therefore, I will immediately reduce my trading operations after continuous profits or major profits. The reason for encountering losses is usually due to not stopping after making profits.