How I Have Made 76k In One Month

How I Have Made 76k In One Month

How I Have Made 76k In One Month 1024 546 Steven Dux
What's up and welcome back to

This week's lesson.

Today we will discuss some trades I made during a pretty dull month that left me with $72,000 in net profit. 

STARTING MY DAY IN

THE MARKET

When starting my day in the market, I always ask myself, “what kind of pattern are you trading?” when looking at my set-up.

If my criteria are met, I go in on the stock, but I will end the day there if it’s not. The best way to stay consistently profitable doesn’t take sitting in front of the computer for 24 hours to reach goals. When thinking of the appropriate amount of time to trade, you’re looking at 45 minutes to two hours, mainly because the most active stocks happen within that first 45.

STOCK TICKER:

$SOLY

I also do my best to cut my losses and not size in if there’s massive support.

…and I’m going to use $SOLY as that example. This ticker was trading 22 million shares on the current day, and I came in around $6. Before you pass judgment on a stock, take a look at the 6-month chart and see if there’s any resistance, support, or if it’s trading fresh volume, which means the stock is leaning in a bullish direction. $SOLY had a starting cap at 98 million and was gapping up around 300%, but there’s no edge to trading this stock. If you’re shorting into the consolidation breakdown with fresh volume like this, then you will always get squeezed.

The patterns speak for themselves, and yet many people don't respect the first green day.

STOCK TICKER:

$OTLK

I also want to discuss $OTLK because it’s vital to use this stock’s chart to make decisions.

$OTLK had a spike of about 60 million shares traded per day but had no historical or consistent resistance. All we can see from this chart is 6 million shares trades at $18, but that’s not enough compared to the daily volume of 60 million, so it’s best to treat this stock as if it has a fresh chart. As we take a closer look at $OTLK as a milt-day runner, we see a strange formation that would lead traders to think that it will break the support, but it won’t. If a stock is trading this much volume, there’s enough support to hold the stock and cause a big squeeze that stops it from gapping up.

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