My Trading Plan For Monday

Updated 9/22/2023 6 min read

Ever heard the phrase, “Go big or go home?”

Trust me, in the trading world, that attitude can drain your portfolio fast.

I consistently remind my students about one thing: successful trading isn’t about making big, reckless moves.

As we transition from September to October, it’s crucial to stay alert and informed as to what’s happening.

This week, I’ve highlighted three key pointers for my students to consider before their next trade.

Ready to trade smarter?

Dive in to see the insights I shared.

History Matters

History matters more than you think when it comes to trading.

It absolutely blows my mind how clueless some traders are when you ask them questions about the history of the market.

Every trader needs to be aware of what’s currently happening in the market…

And you also need to be aware of what has happened in the past.

Right now, these early morning squeezes are happening left and right…

Typically I would be looking for a morning panic, but that’s not what’s working right now…

So I changed my strategy around based on what the market was giving me.

You can see all of my most recent trades right here!

Not only did I adapt to what’s working right now, but I’m also fully aware of how ugly September and October have been in the past.

When it comes to trading, there are a lot of variables you need to understand…

And the more you know, the better prepared you’ll be for the days ahead.

Back in 2020 and 2021 I was way more aggressive with my trades because of how the overall market was performing…

Now it’s not the best idea.

Just because we’re seeing a sell-off over the last couple of weeks, and we should expect that to continue throughout a part of October…

That doesn’t mean there won’t be many opportunities for you to take advantage of.

We’ve seen so many opportunities over the last few weeks, despite the sell-off, all thanks to these over-aggressive short sellers!

So as we are starting another week, be cautious of how the overall market is performing and be cautious before you make your next trade.

Just Trade Small

With the market looking the way it does, there’s no need to be overly aggressive with your trades.

Every time I get too aggressive, I get punched right in the gut by the market.

I trade conservatively because I’ve been gut-punched in the stomach way too many times from being overly aggressive.

I learned my lesson, and in a market like this, I hope you can learn from my mistakes and understand the importance of trading small.

The great thing about trading with a small account is that we’re finding some amazing squeeze plays…

And you truly don’t know how high they could go, so therefore, you don’t need to risk a lot to make a lot!

YTD I’m up over $44,000…

I’m not doing anything great, not locking in huge wins…

I’m simply trading scared, locking in singles, and cutting my losses quickly.

Remember, just as quickly these stocks go up, they can come back down just as fast…

So don’t do things like HODL…

Instead, I want you to trade scared, cut your losses quickly, and take singles like me.

HODLING is so dangerous, you need to understand that.

Just take a look at how choppy MSP Recovery, Inc. (NASDAQ: LIFW) is…

Source: StocksToTrade

Up, down, up, down….

Imaging HODLING through this?

Aye, aye, aye, I can’t!

I would have way too much anxiety seeing my PnL statement fluctuate that much.

That’s not my style, nor should it be yours….

There’s not a good reason behind these spikes, other than these over-aggressive short sellers.

More Breaking News

So be safe, trade small, and just be meticulous with your entries and exits!

Be Meticulous With Your Entries And Exits

Take a look at my comments on one of my latest trades, Novo Integrated Sciences, Inc. (NASDAQ: NVOS)…

Source: Profit.ly

I was alerted about this play, thanks to StocksToTrade Breaking News…

And I had a goal of 10-20%.

I don’t just dive into any trade head first, I like to look back at the chart to get a better understanding before I do…

Plus I’m also focused on the current price action.

Looking back at the chart, I can see it has a history of spiking, but failing relatively quickly, so I had an idea of where my exit would be by looking for some key support and resistance areas.

Source: StocksToTrade

Based on what I saw, I had a set goal in mind…

And despite the overall market tanking that day, I had to give this trade a shot because I would’ve felt too guilty about missing it based on its price action, solid news, and with there being so many over-aggressive short sellers in here.

I bought NVOS at $0.295 and sold it at $0.322 for a 9% profit!