Numbers don’t lie…
When I tell people my weekend trade is among the most profitable strategies I’ve ever traded…
I have the numbers to back it up…
Best of all, I believe this is one of the simpler strategies to learn…ideal for traders with small accounts and are relatively new to trading.
Today I’m going to walk you through my last weekend trade, and the six reasons why it was a solid setup.
Table of Contents
My Weekend Trade in ATRA
While most of Wall Street is packing it in on Friday…gearing up for the weekend…I’m scouring looking for one final trade.
Last Friday, it was in the ticker symbol ATRA.
Here are the six reasons why I thought it was such a beautiful setup. And while this specific trade opportunity is gone…the logic behind it is still relevant. And one I will be using again this upcoming Friday.
#1: Upcoming Catalyst
The company announced it would be presenting at a conference on Tuesday. My thinking is that traders would bid up the stock leading up to the event. And since I was getting in late on Friday, there would be a chance we could get some hype around it on the weekend, and possibly see the stock spike early on Monday.
#2: Recent Investment News
According to an SEC filing…the company had recently secured a new investor. Does this smart money investor know something we don’t?
While I don’t know for sure…experience tells me that traders tend to think news like that is bullish…and they’re likely to bid the stock up.
#3: Strong Chart Pattern
Another thing that really appealed to me about ATRA was that the stock was breaking out of a multi-day range…
Not only was this bullish…but it was likely going to attract momentum traders into the symbol.
#4: Good Entry Level
The highs were around $0.71…my goal was to get in below that level. If I could get an entry in the low $0.60s I felt it had a good chance to at least get back to the highs or even blast through it.
#5: Risk Management Strategy Established
My goal was to get in the low $0.60s and get out in the $0.70s. And if it didn’t happen I would cut losses quickly.
I always have a plan. Most of the time the trade doesn’t work out perfectly, but the fact that I’m prepared to cut losses quickly enables me to execute without getting emotional.
#6: Timing of the Trade
Look, no one knows for certain whether a stock will go up or down. But if you can stack reasons why and have a risk management plan then it makes sense to give it a shot.
I spotted all these reasons why I thought ATRA had a shot at going higher. And because it was so late on a Friday, my thinking is more traders would pick up on this over the weekend and on Monday morning.
And if you’ve been following me on social media then you know that the weekend trade has been working well lately.
Before last week, I had a great trade in the ticker symbol SHOT.
ANOTHER MUST READ BLOG POST: https://t.co/kFTt3v4kpm Lessons From My Latest Pick Spiking 300%…SOOOOO GRATEFUL FOR PLAYS LIKE $SHOT as it ft the https://t.co/HtO3qajaTT pattern to a T, so it's awesome for both longs AND shorts. Did you capitalize on it?
— Timothy Sykes (@timothysykes) November 26, 2023
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