Everyone’s been there …
Even the best traders go through periods of undisciplined trading.
For example, I had a rough December. I recorded a net loss for the month, -$2,914. I even lost $25k on a single trade. 😩
I cover that trade in the video below:
Even Jack Kellogg had to reevaluate his process. In late 2023 he was on an ugly losing streak.
Take a look at his profit chart below:
But we didn’t give up!
That’s key: Don’t let it frustrate you to the point of quitting.
There is a process for profits in the market.
Jack and I both went through periods of losses. But we rededicated to the process and we got back on track …
Here’s how:
How We Turned It Around
Already in January I’m killing it!
Take a look at one of my trades from last week:
My $25k loss in December shook me up a bit … I had to take a step back and reevaluate my trading.
The market’s recent strength had me up at all hours and it started to take a toll on my health.
As a result, I was trading sloppily …
My main issues were overtrading and not cutting my losses quickly enough. I saw these stocks spiking +1,000% and I pushed myself too hard in my pursuit of profits.
The same thing happened to Jack. But his major issue was trading with too much size … He started thinking about the money too much and it shook him out of his disciplined process.
Jack still trades with a larger size than most of my students … There a recent example below:
Believe it or not, this can be a conservative position size for Jack. 😆
Jack had to size down to focus on the percent gain instead of the dollar gain.
Quality of trade over quantity of money …
In turn, I had to focus on my health and zone in on the best setups.
How To Trade These Stocks
When we have big stock spikes, it pays to aim small.
Aim small, miss small.
I know that it’s tempting to aim big on a stock that spikes +400% (like CURR from last week). But remember, we often find these stocks before they reach the peak.
Which means that sometimes we’re trading a stock that’s already up 200% on the day, and we have no way of knowing how far it will spike.
It’s a dangerous situation for those who trade without a plan.
Don’t let that scare you away, there’s A LOT of opportunity right now …
For example, from last week:
- DatChat Inc. (NASDAQ: DATS) spiked 370%*.
- Currenc Group Inc. (NASDAQ: CURR) spiked 400%*.
- VerifyMe Inc. (NASDAQ: VRME) spiked 120%*.
But understand the risks of trading without a plan.
>> Learn My Process To Trade These Huge Stock Spikes <<
Get ready for more volatility this week …
Cheers.
*Past performance does not indicate future results
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