Explaining My +$800 Day Trade On ETF's | May 2018 | Summary and Q&A

TL;DR

In this live trading recap, Ricky from Tech Book Solutions shares his screen and explains his trades, highlighting an $800 profit for the day.

Key Insights

• 💄 Ricky emphasizes the importance of understanding patterns and indicators in making trading decisions.
• 🤑 He highlights the need to focus on percentage growth rather than the exact amount of money made.
• 🥹 Ricky emphasizes the value of joining a trading community, such as Learn Plan Profit, to learn from experienced traders and hold oneself accountable.
• 🧘 He advises being patient, not forcing trades, and waiting for confirmations before entering or exiting positions.
• 🤑 Ricky suggests watching his YouTube videos and doing research before investing any money into his programs.
• 💄 He shares his experience of making consistent profits and encourages others to develop their own trading systems.
• 🍄 Ricky recommends having fun with trading and surrounding oneself with motivated and inspiring individuals.

Transcript

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Questions & Answers

Q: What is Ricky's trading group called, and what does it offer?

Ricky's trading group is called "Learn Plan Profit." It is a private group where he mentors members daily, providing live trading sessions and sharing his knowledge about the stock market.

Q: How does Ricky determine his entry and exit points for trades?

Ricky looks at patterns, support/resistance levels, indicators like moving averages, RSI, and MACD. He also considers the overall trend and the stock's oversold or overbought conditions.

Q: Why did Ricky treat his position on Diaz as a day trade rather than a swing trade?

Since it was the first green day for Diaz, Ricky saw it as a potential short-term opportunity rather than a long-term investment. He explains that swing trades require confirmation of sustained upward movement, which Diaz hadn't shown yet.

Q: What is Ricky's goal for daily percentage growth, and how does he aim to achieve it?

Ricky aims for 3-5% daily growth. He advises focusing on quality trades and having a structured trading plan. Ricky encourages starting with 2-3% weekly growth and gradually increasing the target.

Summary & Key Takeaways

• Ricky starts the video by sharing his screen and showing his $800 profit for the day.

• He discusses the importance of not focusing on the exact amount of money he made but instead understanding the indicators that led to his buying and selling decisions.

• Ricky explains his entry and exit points for his trades and emphasizes the significance of understanding patterns and indicators in the stock market.