Are You Prepared
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We all know that success comes through proper preparation. Although in order to prepare properly you must know how to prepare the right way and you must know what you are looking for. Otherwise you will over work yourself and experience no results,that doesn’t feel good.
A large element that works against traders is indecision, anxiety and self doubt. So much so I think that most traders are their own worst enemies. Without thinking ahead or planning a trade out and its multiple scenarios in advance we add unwelcomed pressure to our trading business. This can lead to poor execution, order errors, fat finger trades and panicked exits. This may ultimately whittle away at your confidence until you no longer trust yourself or believe you are capable.
In this segment we will look at a trade we made today in GMCR. This is a trade that was thought out several hours in advance for LincolnList members . We were able to think out multiple outcomes of this trade and prepare accordingly. As you will see this was a nice win and a very simple trade. All it took was a little foresight to pull off
Lets take a look at GMCR
There is not a whole lot of thought that goes into this trade. First, at one point the stock was up over +10% on the day that’s alot for a stock like this. That doesn’t mean that it wont go higher but it does make it harder to attract buyers as the naked eye alone can see it is short term overbought. Because we are not long this and we are unwilling to chase the stock at these levels, our attention then focuses on taking advantage of short term correction in the stock. Roughly around 11:15 EST you see the first real red move come into this stock and it goes right to the 121 support level. This 121 support level should come as no surprise because that was the bounce point from the morning. Knowing this I feel if this stock loses control of that 121 it should retrace nicely. It doesn’t take much for a stock that is up 10 bucks to shave off a dollar. So as normal I alerted our members at 12.55 EST that I would short GMCR if it went below 121. For some reason I was feeling generous and decided to throw this idea out to the social media slackers looking for a free ride.
Time stamped social media tweet
Well that order sat there for a good two hours before it got filled for us in chat but being the nice guy I am I made sure to remind all the slackers that this GMCR trade has just triggered so you best get off you butt and nail this thing.
Reminder to slackers
10 minutes later this was the outcome
Now +336 is not a huge gainer by any means. I only held a small 300 share size position but this is not bad for 10 minutes of work and trust me this wasn’t the ONLY trade we made today. There were more than 6 trades today very similar to this one and we see trades like this all the time. There are a few lessons we can take from this. One being that when we prepare and think ahead we already know as traders what this trade is all about. We already know the risk, our share size and our profit targets. The other lesson is, it pays massive dividends to be in a trade room that offers opportunity like this. For the rookie or the struggling trader a room like this allows us to explain this trade to you via voice and video TWO HOURS before it happens, you cant miss that. This eliminates confusion and anxiety. This also helps “the pro” or the successful trader because while you are busy scanning for stocks someone just tossed you a legitimate trading opportunity.
All joking aside this is what we do at TheLincolnList. It makes no difference how many shares I traded or how much I made. What matters is that you the member reap the rewards of a trade like this as well as learn what this set up means and how to find more of them. This is why TheLincolnList has the winning environment. These trades are not surprises or just thrown out to you. These trades are explained, drawn out and discussed so everyone can share in the wealth. Tomorrow there will be more great trades and there will be traders in our room taking advantage of the them. The question is will you be one of them? Will you take part in these winners and grow you account or will you be reading my next post like this wondering what is taking you so long.
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Trading stocks has large potential rewards but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest or trade the financial markets. Don’t trade with money you can’t afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. For the avoidance of any doubt, TheLincolnList.com does not hold itself as a Trading Adviser (CFP or CFA). Given this representation, all information and material provided by TheLincolnList is for educational purposes only and should not be considered specific investment advice.