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We completed the $25K Challenge where we were able to grow a small account over the PDT rule consistently. We made over $100k profits and now eyes are set on the $500k and eventually the $1,000,000 profit mark. Check out the start page to get up to speed with everything we do. Let's go!
Reflect & Market Overview | Week 10
Reflection on last week's lesson
Last week, "Trade Momo, Leave The Rest | Y2023W9", swing trading and holding longer has been my devil since I've started all this swing trading nonsense. It's totally thrown me off. For now, putting it on ice.
SPY Trend
$SPY What a reversal off of $392, very strong move.
RUT Trend
$RUT flag breakout. Can we get back to $2,000? Could be a strong week.
Gameplan - | Day Trading | Swing Trading | Crypto Trading
Important Macro Scheduled Events
https://tradingeconomics.com/calendar
| Tuesday March 07 2023 | Actual | Previous | Consensus | Forecast | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 10:00 AM |
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Fed Chair Powell Testimony | ||||||||
| Wednesday March 08 2023 | Actual | Previous | Consensus | Forecast | ||||||
| 08:30 AM |
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Balance of Trade JAN | $-67.4B | $-69B | $-69.0B |
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| 10:00 AM |
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JOLTs Job Openings JAN | 11.012M | 10.6M | 10.6M |
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| 10:00 AM |
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Fed Chair Powell Testimony | ||||||||
| Friday March 10 2023 | Actual | Previous | Consensus | Forecast | ||||||
| 08:30 AM |
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Non Farm Payrolls FEB | 517K | 200K | 210.0K |
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| 08:30 AM |
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Unemployment Rate FEB | 3.4% | 3.4% | 3.4% |
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Former Gappers & Current Sector Plays
View post: Former Top Gainer (gappers) Stocks On Watch, On Ice, & RIP (adding new tickers here throughout the week)
The current sector plays (on TOS watchlist mark all sector plays in blue):
- AI. Anything related to ChatGPT or implementing their own AI.
- $NVDA, $BZFD are 2 good examples
- Space. Popular topic as spaceX makes headline news almost daily.
- $SPCE, $BAER, $LLAP, $SIDU
- EV. EV has had its run but a lot of EV stocks are depreciated and now seeing renewed action.
- Including batteries/mining, electrical
- $DCFC
- SPAC's.
- As of Friday last week due to $LUNR a SPAC that went from $8.55 to $136
- $MLEC, $RNER, $GNS
This Week's Broader Gameplan
Stop all the messy little stuff. Stick to the OG strategy I've perfected so well over the years.
“Hell week” on Wall Street. several potential landmines for the stock market. One of them is the jobs report on Friday. Employment numbers have been on the rise, and continued strength in the labor market could lead to more interest rate hikes. Another key event this week: Fed Chair Jerome Powell’s testimony on Capitol Hill. He’s expected to field questions on the trajectory of inflation and the looming debt-ceiling crisis.
Monday March 6
General Gameplan
Back to the OG strategy. Only.
Macro / SPY Observations & News
No macro drops.
Videos & Live Record (Wrap-up & Trade Reviews In Video Description)
UNCY Stock Trading Shakedown | Will We See More?
Tuesday Mar 7
General Gameplan
Keep doing what I did yesterday. Buying aggressively on the initial breakouts tends to do much better than waiting for a micro PB or similar. If you want a later PB be ready for a bigger 10-15 quick flush right when you expect it to be a good Micro PB setup.
Macro / SPY Observations & News
10 AM JP talks.
Videos & Live Record (Wrap-up & Trade Reviews In Video Description)
Wednesday Mar 8
General Gameplan
Working on being as patient as possible.
Macro / SPY Observations & News
8:30 and 10am we go macro drops. Will be busy day. If possible wrapping up before the first macro drop would be ideal.
Fed Chair Jerome Powell dropped Mentos into the market’s Diet Coke yesterday. In testimony on Capitol Hill, he said that interest rates were probably going to go “higher than previously anticipated” in light of stronger economic data. After those comments, stocks sold off and the 2-year Treasury yield spiked to above 5% for the first time since 2007.
Videos & Live Record (Wrap-up & Trade Reviews In Video Description)
Thursday Mar 9
General Gameplan
Patience. Aggression. Size. Yesterday I let too many opportunities slip or missed them by a few cents and then I traded worse setups. Got me in a lot of trouble. The first breakout tends to be the best and the PB's tend to fail.
Macro / SPY Observations & News
Finally a no macro day.
Videos & Live Record (Wrap-up & Trade Reviews In Video Description)
Friday Mar 10
General Gameplan
Get green get out again.
Macro / SPY Observations & News
8:30 Unemployment rrate drops. Danger zone.
Videos & Live Record (Wrap-up & Trade Reviews In Video Description)
Insider Review
At the end of every week don't forget to join us for our weekly group calls where we break down the biggest lessons of verified traders followed by Q&A sessions. Full playlist here: Insiders Trading Podcast
Quick Overview
Slow trading week for me, opportunities felt limited, and a lot of big Macro drops.
My Lesson
Get green and get out. Need to get back into a green state of mind.
My Notes From Other Insiders
Don't even wait to hit a profit target just focus on getting some consistency back.
News | Know Your Macro!
I have about 30 tabs that auto-open when I click my "NEWS" bookmark folder which contains a bunch of news sites, portfolio analytics, charts, upcoming US gov reports and more things along that line. One app I'm always a big fan of and complete read through is the MorningBrew daily newsletter. I find it hits most topics every day.
