I came up with the idea for this blog on Friday after receiving a bunch of questions about a couple of trades I called. The idea wasn't just to do a trade review, but to try and emphasize a few points we've made several times in the past. In a sense this is a follow-up and continuation from my previous blog I'm going to be sick! The trade I'm going to talk about is $CARA. It definitely fell into the "super duper tough" camp but it was certainly well worth the risk.
I started writing this yesterday and quickly became frustrated as it's really hard to do a trade review via a blog. About 10 screen shots in, I finally realized something. I could just make a video! Duh!
After making the video I became even more frustrated. My blog doesn't allow me to post the type/format of video I want inside the blog! Damn it! I finally figured out a work around but it requires a little extra effort on your part. If you want to see the video, please click the photo below. Clicking will open a new window for the video. Before you watch, please keep one thing in mind:
The video isn't about what I did on Friday. Not at all. It doesn't matter to me or anyone what I did. Hindsight is always 20/20, especially in trading. What matters: What will you do on Monday?What will you do the next time you see a similar set-up? I'll be pushing the buy button again. Will you?
Maybe, after watching this:
Now that you've seen the video (seriously, go watch the video and then come back and read the rest), I wanted to include this slide form our Inflection Points Part Deux Webinar. I can't emphasize enough how much applying the basic principles below can help your trading. Stop taking random flag breaks, especially during lunch. Stop jumping in at the open. Stop saying "sure, this might work". Instead, trade YOUR A+ Set-Ups (and ONLY them) EVERY SINGLE TIME they set up and time your entries around Inflection Points:
By the way, if you haven't watched our webinars on Inflection Points just click the picture above and you'll be taken to our webinar site.
Please let me know what you thought of this blog in the comments section below. Did you like the video? Does it add value?