Timothy Sykes
@timothysykestrader·479K subscribers·3.4K videos
Favorite Chart Patterns From a Six-Figure Student
Posted
December 13, 2019
Views
7,295
Likes
249
Comments
19
Engagement
3.67%
December 13, 2019
7,295
249
19
3.67%
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There’s no such thing as overnight success. It just doesn’t exist. The margin of error is so small in this game, the second you lose your focus or discipline, you can spiral. So how can you avoid this? By focusing on what works for you. Today, Dom explains his ideal setup.
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No two traders have the exact same setup. You have to find the setup that works for you. You have to work, study, practice, and gain experience. What works for Dom?
Multi-day breakouts that have been setting up for many days. Some of his best trades have come from stalking a stock — patiently and carefully tracking. What doesn’t really fly? The stocks that have a run out of nowhere.
You want the stock to prove itself.
Once it starts to set up and you see patterns start to repeat ... that’s usually the same point other traders no longer look at it. If they miss the first move, they scratch it off their list. But keep watching it. If it continues to conform and set up, you can get there early. You can sell into the buying volume.
You gotta do your research and find the patterns that really work for you. Check out breakouts, first red days, panic dip buys, first green days, long-bias setups. Look for stocks that spike on entry level and match up with some of the daily levels and the daily charts that matter. Stocks that then consolidate their highs.
Also, look for stocks that give you range. Look for that consolidation. Make sure you follow with a good risk/reward.
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And remember, trading is different for everybody. Try different patterns and setups. Find what works for you. Maybe find a trading buddy. Trade with someone who’s interested in learning with you. You bounce ideas off of each other and learn together.
You gotta work toward consistency. You have to want to improve and get better. So find a way to make yourself accountable, whether you trade alone or with someone else.
When you really immerse yourself into this … when your whole life is trading … it can be a lonely game, but it doesn’t have to be.
#StocksToTrade #StockMarket #ChartPatterns
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*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
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