Why I Trade for Singles & Doubles Instead of Home Runs
When all around you hear about fortunes being made in Tesla (TSLA), or anything crypto-related, it becomes tough to stick with your knitting basic trading. The word ”basic” itself has now become a pejorative label for someone who doesn’t know what’s going on.
Admittedly, I have no idea what’s going on within many pockets of various asset groups; so call me basic. Just don’t call me ”extra,” which is apparently the term for someone who’s overly dramatic.
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Did I do good using those terms, fellow young people?
I guess the point I want to get across is at this stage of my trading/investing career, I’m not interested in reinventing myself. I always want to learn and will continue to stay on top of news and trends as best I can. However, I ultimately need to stick to my knitting of finding quality setups and taking my gains and losses as they come and go.
A recent example of that is an Options360 trade where I took a bullish position in Advanced Micro Devices (AMD) yesterday. Here was the setup described in the Alert sent to members.
AMD had blowout earnings last week but the stock responded with a “meh.”
The company is positioned to benefit from autos to the metaverse.
It has now retested the old high reversal around $118ish and today has a nice igniting candle.
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