The Nasdaq has surged recently and I talk in this webinar about how we could be in a major rally. This will need a week to pan out but if you look at the major rallies end of 2017 and 2013 I saw some similar price action where the market.
What do I mean? Look at those years and you will see the market kept breaking the 20 EMA and finding support at the 50 and kept heading higher. Monday’s big surge in price action reminded me of 2017. Again will have to wait and see how this goes.
I learned a lot about exit algorithms in my conferences and it made me want to back test my own results to see how I would have done under different exit strategies.
Same entries just different exits.
Holy Crap! I left a lot of money on the table. All 4 exit strategies did better than my discretionary trading. (by far, it’s bad)
To be fair to myself we are only 2 months in the year and I only have 20 trades worth of data. I will likely make 75-100 trades this year and I can easily fix what I did wrong
This exercise was EYE OPENING and probably the most important thing I have ever done and the most important thing I can teach you
It might seem like I like to rag on myself because I am always showing you my mistakes. That couldn’t be further from the truth
I believe in accountability and transparency.
I believe you will become a better trader and learn from me if you can see me constantly critiquing myself and fixing my problems
I hope and pray that you will learn as much from this exercise as I did and you can correct your mistakes (as I hope to:)
P.S. I just created my brand new trading system. Click the button below to see how it works