3 Trading Habits That Will Change Your Portfolio Forever

Stocks and Options Podcast: Trade Reviews
Trade options with John
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Trade stocks with Pete
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Quality of trade ideas: Focus on finding the best trade ideas rather than just good ones. Be willing to discard ideas that aren't optimal. So you can focus your capital and energy on the most profitable opportunities in the market.
Structured analysis: Develop a structured approach to analyzing potential trades, including sector analysis, technical indicators, and fundamental factors. So you can consistently identify high-probability trades and reduce emotional decision-making.
Position sizing: Adjust initial position sizes based on the strength of your trading argument and the quality of the setup. So you can maximize returns on your best ideas while minimizing risk on less certain trades.
Multi-timeframe analysis: Look for confirming signals across different timeframes (daily, weekly, monthly) to strengthen your trading thesis. So you can enter trades with greater confidence and hold positions through short-term volatility.
Awareness of broader context: Stay informed about sector trends, economic data, and relevant news that might impact your trades. So you can anticipate market moves and adjust your strategy before the crowd catches on.
Detailed trade planning: Create specific entry criteria, including price levels, volume requirements, and candlestick patterns. So you can execute trades decisively and avoid second-guessing yourself in the heat of the moment.
Patience and discipline: Be willing to wait for ideal setups rather than forcing trades. So you can avoid costly mistakes and preserve your capital for truly exceptional opportunities.
Continuous learning: Use the process of reviewing trade ideas as a learning opportunity to refine your analysis skills. So you can constantly improve your trading skills and adapt to evolving market conditions.
Risk management: Consider potential resistance levels and profit targets when evaluating risk-reward ratios. So you can protect your profits and minimize losses, ensuring long-term sustainability of your trading.
Adaptability: Be prepared to adjust your outlook based on new information or changing market conditions. So you can thrive in any market condition and quickly capitalize on unexpected opportunities.
Use of tools and resources: Utilize platforms like Finviz for quick access to stock-specific news and sector information. So you can make more informed decisions faster, giving you an edge over less prepared traders.
Importance of follow-through: Look for signs of institutional buying and sustained momentum when considering entries. So you can maximize profits by riding trends longer and avoiding premature exits.
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[@panagenesis2695]

You're right about having a thesis. And, it should include (but not be limited to) both technical & fundamental analysis, news/catalyst, and overall market conditions & projections of the future (global) economy.

[@panagenesis2695]

For FCX, it's already hit 5-year highs twice in the last two years. The 20 and 200 smas are extended. The volume is slowing decreasing and there's a dip coming up after the quarterly dividend on July 15th. Not a good buy, in my opinion. Better for a short now, and/or wait 2-3 months for the moving averages to reset and price action to break out of a lower range with increased volume and, preferably, a good news catalyst.

[@junwoolee18]

Hi, cool video. A question: How many positions on average do either of you typically hold open at any given time, and how many do you have “in the pipeline” so to speak with alerts set at potentially interesting prices? I ask because I’m curious as to how you juggle/allocate your attention between the different positions. I understand part of the the answer is “it depends,” I guess I’m curious what those contingencies are for you. thanks!

[@Additional44]

I'm new to trading, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.