I say it all the time, but this week I can’t emphasize it enough…
Singles Add Up
In the past four days we’ve gone from peace talks to failed peace talks.
We’ve seen news of MORE peace talks on the way.
We’ve gone from “the Strait of Hormuz will reopen” to the Navy blockading Iran’s ports.
Here’s what you need to know.
All of that is out of my control (and yours).
So, what should you do?
I’m adapting to the market.
That’s the only sane thing a disciplined trader can do.
Starting with this premarket trade…
Table of Contents
The Setup: Speculative Premarket Dip Buy
On Monday (April 13) I knew there would be oil and energy stocks in play due to the news.
And because we’ve been watching these plays for the past six weeks, the tickers are all fresh on my mind.
So, I wasn’t surprised to see Sky Quarry Inc. (NASDAQ: SKYQ) gap up in premarket trading and run to $20+.
Not wanting to chase, I waited for it to pull back (and for price action that I liked).
My thesis was that SKYQ could squeeze if it got back over $17 per share.
My goal was to make 50-75 cents a share and cut losses if no bounce.
I know it doesn’t look like much (I didn’t even take the meat of the move).
But disciplined, small singles like this add up.
Even though I would have loved to hold into that big squeeze right before the open…
What if I’d gotten cocky and held too long?
There’s nothing worse than doing the “round trip” and having to cut at break even (or take a loss).
Here’s what one of my top students has to say about round trips (he left a TON of money on the table before he figured this out).
Millionaire Moves: Avoid the Costly “Round Trip”
Most traders think the hardest part is making money… it’s not.
The hardest part is KEEPING it.
Watch and learn as millionaire student David Hanlin (aka the Laptop Legend) talks about his “round trip” frustrations.
In this video David answers:
- What is a round trip? Hint: it’s nothing to do with planes, trains, or automobiles.
- How FOMO and choppy markets trap traders (and how to overcome it).
- The simple adjustment that changed everything (successful traders get the lessons PLUS the profits).
The Real Reason Traders Lose Their Profits
Get inspired by David and resolve to learn from every trade (especially when you take round trips).
The Most Important Trading Reform in 25 Years
If you’ve ever felt the game was rigged…
A single government regulation has kept small traders “locked out” for 25 years. Days from now, that could change forever.
Be sure to take notes as you watch…
It’s free, and it’s live.
Catalyst Watch: Peace Talks & Strait Blocks
We have a CRAZY market again as the peace talks ignited strength, rumors and volatility…
Only for the talks to end with no deal.
Then, the Navy blockaded Iran’s ports.
Remember to just aim for singles in this market (take what you can and don’t get greedy).
Those who bet too big in a chopfest usually regret it.
More Breaking News
- PCG Stock Slips As Jefferies Downgrades Crowded Long
- Robinhood HOOD Draws Bullish Targets Despite Crypto Hit
- BTBD Stock Jumps As Aero Velocity Merger Story Builds
- AMC Stock Jumps As Record Box Office Fuels New Revenue Plays
Top Tips for Trading This Market
- Avoid being overly aggressive
- Avoid being overly patient (watch the Laptop Legend’s video again if you don’t know why)
- Keep up with breaking news, as it can swing the market (and the price of oil/energy stocks) FAST
On My Radar
- Another important book for traders. (Hint: Jack Kellogg mentions THIS on almost every webinar – see page 77).
- I recently had the chance to workout in one of the coolest gyms I’ve ever seen.
- Tim Bohen’s Rubicon Codex is off the charts.
Key Takeaway
Singles add up and you CAN grow a small account (and even a big account) by locking in gains along the way.
Stay disciplined.
– Tim Sykes
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