Don’t complicate this process.
Stock trading isn’t rocket science. A lot of people are doing too much.
Let me explain: there are only a handful of decent trade setups every week. Excluding this Friday, I’ve only made one trade this week.
Granted, the market was closed on Monday in observance of Martin Luther King Jr. Day, but you get my point.
You don’t need to trade a bunch of stocks to profit.
Our time is better spent focusing on the best setups using one pattern.
You can add patterns to your arsenal as you progress. But at first, too many profit angles are confusing for new traders.
All my millionaire students started with a single pattern.
There are only a few to choose from, I suggest you focus on the popular Friday strategy right now.
Keep your day job. You don’t need to trade all week long, just tune in on Fridays.
So far in 2024 I’ve already used this pattern twice. Take a look at the results below …
$5,000 before the month is over aint too bad. But …
Attention: This is NOT a get-rich-quick scheme.
I can only profit as much as the market is willing to give me.
You need to have the right mindset when approaching these plays. There are real opportunities. However, the wrong mindset can cause losses.
I’ll explain the process in today’s blog post.
Make sure to follow this process …
Afternoon Price Action
Maybe you noticed from my trade screenshots, I entered these trades in the afternoon.
I’m banking on weekend hype.
That means: when the stock market is closed on Saturday and Sunday, market news still circulates. The hype can build for certain stocks, and that can lead to a Monday spike.
Sometimes, the stock breaks out before the market closes on Friday.
That’s why it’s important to set alerts in the StocksToTrade software. If the price spikes before the market closes, it’s best to cash out early.
Here’s the interesting part …
Every stock chart is unique. Like a snowflake.
They can follow the same patterns, but the charts will always look a little different.
It’s an inexact science. But a science nonetheless.
Here’s how I find the best Friday spikers …
Only a few stocks will fit this pattern.
That’s a good thing. Imagine watching 30 different stocks and trying and pull a profit. No, thank you.
Simplicity is key. Don’t overcomplicate this.
There are a few factors that will narrow down my Friday watchlist. I use StocksToTrade to build this scan …
- Recent news/bullish catalyst.
- +20% spike on the day.
- Volume above 1 million shares.
- A float below 10 million shares.
- A price below $5.
- History of spiking.
- Price consolidation mid-day.
It seems like a lot of factors. But remember there are thousands of stocks moving every day. These factors narrow it down to a handful of bullish runners.
Once I find the stock, I still have to trade it.
It’s ESSENTIAL we trade with a pattern. Nothing is 100% guaranteed in the market. The Friday play could fall apart.
And our trade plan can protect us from that risk.
A few losses are unavoidable in this niche. I only win 76% of the time. My trade plan helps me control those losses.
It’s still a good trade if I take a small loss.
That means I’m protecting my larger account.
This is a marathon. Not a sprint.
Let’s get to the specific trade plan I’m using. Depending on when you read this, there’s still time to profit from this Friday’s runner!
I already mentioned that every stock is a little different.
I started to recognize these patterns once I gained enough market experience.
If you want to effectively profit from these moves, you need to look at past examples.
My two Friday trades in 2024 are a great place to start.
- MAIA BIotechnology Inc. (AMEX: MAIA)
- Applied UV Inc. (NASDAQ: AUVI)
Plus, I created a full tutorial to show students this profit process, front to back.
There are 52 weeks in a year.
Aim to trade less than 52 times this year. That will keep you on the right track.
K – Keep
I – It
S – Simple
S – … Student
And, as always, if you have questions drop them in our live chat.
2024 is well underway and there are new profit opportunities every week.
There’s no time to waste!