Confused about when to enter a trade and when to stay out? Read on…
| | | When the Best Trade Is No Trade | | | It's 9:30 a.m. Eastern. The market's open. You're at your desk, you've got your trading plan ... Ready, set, trade! Wait, not so fast... Being prepared is a good start. But smart trading isn't about entering positions left and right as soon as the market opens. Trading isn't something you do just because you can. You need to wait for the right opportunities. Some days, there simply aren't any good trades out there. There's a time to trade ... and there are plenty of times not to trade. You've always got to keep an eye on the market conditions and what the chart's telling you. When a black swan event happens, it might not be the best time to jump in. The ideal way to trade? Have a plan ready, and only trade if it matches your trade thesis. Confused about when to enter a trade and when to stay out? Read on… | |
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| | | Options trading guru, Mark Croock took what he learned about penny stocks from Tim Sykes and used it in the "options" market. He trades big companies like Tesla, Beyond Meat, Zoom, Apple, and Hertz for pennies on the dollar. And he's made over $650k doing it. He created his own options trading program to teach you his secrets. If you want to see how he does this from "anywhere with a wifi signal"...
Click here now to watch our exclusive new interview >>
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The trades you don't make are just as important as the trades you do make. By being selective, you can better ensure that you're focusing on the best setups — the ones with the most potential. This requires a mindset shift. Instead of focusing so much on growing your capital, you've gotta focus first on protecting your existing capital. You don't need to trade every day! My friend and fellow millionaire trader* Tim Sykes has a saying: "Trade like a sniper." Snipers can spend days waiting for the perfect shot. They'll stalk their target — they won't shoot unless the conditions are ideal. A sniper waits for the right moment to strike. They're patient. That's the way you should trade. Think of the stocks on your focus list as your prey. Stalk them — wait for the market, the chart patterns, the risk, and the reward to all line up perfectly. Trade when the moment's right. If the moment isn't right? Don't strike. You might just dodge a bullet! Self-sufficient traders know that the best trades come from the best setups. Amazing setups don't present themselves every day. | When should you trade? Only when the stock falls into the criteria you set forth in your trading plan. When the stars align, you want to be ready. But when it doesn't happen, you've gotta let it go. Trading is a process. It's not about the individual results from any one trade. Instead, it's the culmination of many trades and always following a set of rules. A well-crafted trading plan built on rules makes your life a lot easier. If the price point and conditions for entry are met, you enter the trade. If not, you don't. Always be prepared for the trade ... but also be prepared to make a quick exit if the trade moves against you. Once again, stick to the plan! If your thesis isn't working out, it's time to get out. | | |
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Trading is about making a plan ... then executing based on that plan. I teach my students the rules I've used to build trading plans. This is a process I've developed and refined over the past two decades. It's a great starting point — after all, it's part of the methodology that's made me millions.* Wanna know some basics? Let's go over an example of a trading plan. Note that this is just an example — the idea is to show you the components of a trading plan so you can get a better idea of how to build your own. If you're interested in learning directly from me, consider signing up for my profit lock system. Sample Trading Plan Catalyst: Stock in a hot sector like electric vehicles with a new contract. Crossover: The 8-day simple moving average (SMA) crosses through the 20-day SMA Stop: 20-day SMA Profit target: 52-week high Risk/reward: The minimum risk to reward is 1:3
In this example, the first thing you're looking for is a catalyst, then the moving average crossover. Once the stock meets these basic parameters, that's when you're ready to look for an entry. You should only enter the trade when you have the proper risk to reward — in this case, 1:3. The stop is the 20-day SMA and your profit target is the 52-week high. That means if you're $1 above the 20-day SMA, you need to be at least $3 below the 52-week high. Once you've built the plan, your job is straightforward — follow the plan. Trade when things go according to plan. If not, don't trade. Simple as that. | |
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| | | Pay off all your debt, buy a new car, help out a family member? If you have a few minutes Paul Scolardi will show you how he made that much in ONE TRADE. Even better... If you click the link he'll show you how he's able to make that much over and over again… See How He Does It | |
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New traders think that trading is about having good instincts or being able to predict the future. Good news — that's not what trading is about. Trading is about making a plan and sticking to that plan. It's pretty simple. If the parameters aren't met, your job is to do nothing. Don't try to force a trade for the sake of making a trade. Save your cash and wait for a better opportunity. Overtrading usually just leads to losses — don't do it! Stick to your plan and wait for the best setups. Yes, that might mean you're not gonna be trading every day. That's perfectly fine. Slow but steady wins the race. Have restraint, Paul Scolardi Editor, Swing Trade Millionaires | P.S. A student of Tim Sykes has been making huge profits in 2020… He's taken Tim's penny stock strategies into options trading… And he's grown his account 800% this year alone! He did so well that Tim took a private jet to Miami to interview him. If you want to see how this options trader's strategy could change your life... You can see the interview here | | *Results not typical. Paul Scolardi teaches skills others have used to make money. Most who receive free or paid content will make little or no money. Most traders lose money. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services. Past performance in the market is not indicative of future results. | This is for information purposes only as Millionaire Media, LLC is not registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. We are not a licensed investment professional, and we do not give investment advice. Always consult a licensed investment professional when seeking investment advice. Millionaire Media, LLC cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media, LLC in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media, LLC accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns. | | |
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