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Welcome back to the Market Chat! This week Ryan Pierpont discusses his background and process that allowed him to become a professional trader and to win 3rd place in the US Investing Championship with a gain of +448% in 2020.
We talk about discipline, psychology, routines, setups, and position management. We also go through many different charts as Ryan discusses how he analyzes price action using channels, flags, and trendlines.
Trading Books Ryan mentioned:
How to Make Money in Stocks, William O’Neil amzn.to/33cpYqX
How to Trade in Stocks, Jesse Livermore amzn.to/3eicKQ7
Reminiscences of a Stock Operator, Edwin Lefevre amzn.to/3h65PuX
Trading in the Zone, Mark Douglas amzn.to/2QTis1Q
How I Made $2,000,000 in the Stock Market, Nicolas Darvas amzn.to/2Rmu39u
The Battle for Investment Survival, Gerald Loeb amzn.to/2Ss1doP
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0:00 Intro
1:05 Ryan’s Background, Dot Com Boom
1:26 Trying Computer Science, Switch to Business, Baseball
2:10 First Finance Class, Reading A Random walk down Wallstreet
2:30 We Should have Personal Finance Curriculum
3:11 Started Trading in 2008 Meltdown
4:02 Options Trading
4:40 The worst thing that can happen is you have a good first year
5:20 The key to success is getting your ass handed to you
6:00 Reading How to Make Money in Stocks by O’Neil over and over
6:20 Dan Zanger and Randy chartpatterns.com
7:20 On social media people only post gains, lack transparency
8:25 Reading Dan Zanger’s Newsletters
8:45 Learning the psychology behind chart patterns
9:30 The idea is to find your edge and stick to only that
10:30 The importance of trading with a plan
11:30 There's only 2-3 times year to press on the gas
12:30 Technicals and Fundamentals are 10-20%, The rest is Psychology
15:00 Trading Books. Mark Douglas
15:30 managing Emotions and seeking feedback form the market
16:00 Stan Weinstein Stage Analysis
16:30 Darvas and Livermore
16:45 Brian Shannon Multiple timeframe analysis
17:00 Mark Minervini’s books
18:00 We have it easy
19:30 It takes time to build experience, Market Cycles
21:25 If you have the drive and the passion don’t ever give up
21:50 Preserve Mental Capital
24:16 Progressive exposure
24:45 Don’t Revenge Trade
25:45 Recognize that this is a marathon not a sprint
27:25 Don’t Style drift
28:00 Batting Average and Risk Reward
29:00 Journaling trades, keeping track of statistics
30:45 Look back on your mistakes STNE
32:00 FSLY gap downs
33:44 The Runner Concept
34:30 Selling Half, Win-Win Situation
35:00 Know what type of market you are in.
36:15 How does Ryan select stocks to trade, Only Price pays
37:40 Weekend Screening Routine
39:50 Super Earnings is key
40:09 focus on the top 10-20 stocks in the market
42:30 Buying Setups and Bases
43:20 Bases with shakeouts go to the top of your list
43:30 Obvious Areas and Standard Breakouts. Be creative
46:14 Trading in 2020 Chart Walkthrough
47:30 March Correction
48:45 Island Gap
50:20 Looking for potential leadership
51:25 TSLA Stock Analysis
55:00 h pattern
59:35 Buying a gap up
1:01:40 Never average down
1:03:00 Identify every scenario before you make a purchase
1:04:00 FSLY Analysis
1:05:00 Buying the earnings gap up
1:05:55 Hot Stove Reaction
1:08:15 Always look for the next one
1:08:47 How concentrated does Ryan get
1:09:45 Focus on the Leaders hitting 52 week highs
1:10:50 The best stock in the market may be one you already own.
1:11:40 Pyramiding into a position
1:13:17 FLGT Volatility Contraction Pattern
1:16:10 Position Managment
1:17:50 FUTU Shakeout
1:21:24 Adapt or die
1:23:00 TIGR, the bigger the pattern the bigger the potential move
1:23:55 The IPO Low is a critical spot
1:25:15 Just when you think the trend will end, bet that it won’t
1:26:19 How does Ryan use multiple timeframes. Weekly charts
1:29:10 JMIA Analysis
1:29:50 Dislikes rising channel into a prior high
1:31:04 A lot of these names will never come back
1:34:10 AVID Breakout 1-2 Punch
1:35:20 BBY Analysis
1:36:45 SWAV Relative Strength
1:37:20 HD Shakeout Fast Move
1:38:13 IPO Precedents COIN
1:39:00 Don’t buy as its falling apart
1:39:44 BABA IPO example
1:40:25 Old Leaders TDOC PTON
1:41:45 Be Kind and be respectful
1:42:20 FVRR DOCU
1:42:50 Indexes Big Picture SPY RUT
1:44:20 Indicators and Chart Layout
1:44:59 If you do your homework, you will have more money than you will know what to do with
1:46:45 Keeping it simple
1:47:40 Advice for new traders. Write down your goals
1:48:20 Surround yourself with positive people
1:48:40 If you love trading the only result is that you will succeed
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Disclaimer
The content of this video is for educational purposes only and should not be taken as a suggestion to buy or sell anything