The power of patience

What an incredible week! I hope many of you out there had as great of a week as I did…and for those that I took money from, well I am sorry that I am not sorry. Do your homework!

This week was pretty amazing in that nearly 100% of my trades were in TSLA and NVDA.  The ranges were solid and provided some great entries.  As always with these two, I start VERY small size and add upon confirmation that the direction is right.  Here is a snapshot of a trade in NVDA yesterday that was awesome.  Nate had called it out on the scan for IU and I couldn’t have been more excited to see my favorite stock setting up so well.  Here is what the daily looked like:

You can see that NVDA was 5 days up, right into an area of potential resistance in the 168 area.  Here is a deeper look in via the 5 minute chart:

I started into it on the break of 165.30, perfect timing in my mind, as it had ran the first 30 minutes now was showing signs of getting tired.  Because the pull was so quick, I didn’t add but stayed in and watched what happened after it cracked under vwap.  I started trail mode, as I was thinking it might crack to the upside again. It took me out at 163.35, which was an awesome first win of nearly $2/share.   That being said, I was still in the mindset that today could be the crack day, so I watched for another opportunity.  It presented itself in the form of a lower high just after 11 am and then another at 12:30, where I added again and took some off as it cracked under vwap.  The final add came at 1:15 when it cracked that small base it had formed 11:30 am.  I went into trail mode after that and ended up getting taken out at 160.25 for another win of nearly $3.75/share.

You can see these two trades took approximately 4 hours but generated $5.75/share.  Absolutely a sweet day, who would say no to that?!  Just to give you some reference, I made more on these two days than I did in a month at my previous corporate job….in one day and 4 hours.  BOOM!

Without a doubt, getting a full handle on my patience has been what has taken my trading to another level.  When fellow traders say the secret to success is letting your winners run, they are not kidding.  Now, I am not saying they all work like this but by getting in trail mode after taking solid profits on big momentum moves, it shows up in your p/l.

Aloha and enjoy your weekend all!

Hello world!

Aloha and welcome to my tiny space in the world.  This page is me sharing with you my trading journey and life journey, wherever it takes me and whichever is the more exciting.  I have two small goals:

#1. Dream really FREAKIN’ BIG

#2. Make #1 happen.

I, in no way, promise to make you money or entertain you…just here to share my thoughts and the look of opportunity as I see it in the markets.  The word “simple” in my strategy is slightly tongue in cheek…for anyone who tells you anything within the markets is simple is feeding you a mighty big plate full of garbage.  It is simple when you don’t overthink and follow your rules.  Simple to say, but your success is truly contigent on whether you are capable of executing and following your plan.  Plan your trade and trade your plan is something you will hear from every titan who is in the game and it truly is the best advice I have ever heard.

Mahalo,

Amanda