Locking In Profits For $GPRO & My Top Trades For Tomorrow

TL;DR

In this video, Ricky discusses his plan to transition from day trading to swing trading and shares his recent successful trades with GoPro, Jana, and CX.

Transcript

alright alright I think we might be live there yo we are live what's going on guys I hope you guys are all having an amazing day my name is Ricky this is tech ventilations I'm try that I signed a little model turnout tried to be a little a little energetic I'm gonna break it down three years very quickly if you guys watched my video yesterday I tol... Read More

Key Insights

• 🧘 Ricky's transition to swing trading involves focusing on one or two positions a week with a larger position size, aiming for consistent profits.
• 🔬 He emphasizes the importance of understanding risk management and investing in what you understand.
• 📈 Ricky's strategy involves buying stocks when they show signs of an upward trend and appreciating in value.
• 🏮 He advises against investing without proper knowledge and recommends practicing through paper trading and using educational resources.
• ™️ Ricky demonstrates his analysis of recent successful swing trades with GoPro, Jana, and CX.
• 🪡 He stresses the need for patience, consistency, and learning to succeed in the market.
• 🦛 Ricky plans to collaborate with Ryan Hildreth, Graham, and Tan or J pops on future videos.

Questions & Answers

Q: How did Ricky determine that GoPro was going to bounce hard?

Ricky analyzed the 180-day chart and identified the $9 support level as a strong indicator. He observed that GoPro had been consistently trending upward and felt the potential for profit outweighed the potential for loss.

Q: What was Ricky's stop-loss for GoPro?

Ricky set his stop-loss at $8.98 to give the stock some cushion. If GoPro dropped below $9, he would have cut his losses and locked in his profits.

Q: How did Ricky calculate risk?

Ricky uses an Excel sheet called the P8 PBP Checklist 100 Growth Plan, which is available in the Tech But Solutions Facebook group. The sheet helps him calculate risk and make informed trading decisions.

Q: How does Ricky find quality stocks to trade?

Ricky sets up his own scanner, as explained in a previous video and the mentorship program. He also utilizes the Tech But Solutions Facebook group and Discord group chat to discuss and identify potential stocks.

Summary & Key Takeaways

• Ricky explains his goal of becoming a full-time swing trader and outlines his plan to focus on one or two positions a week with a larger position size.

• He provides a breakdown of his recent successful swing trades, including GoPro, Jana, and CX, highlighting his strategy of buying when stocks show signs of an upward trend.

• He emphasizes the importance of risk management and understanding the market before investing, and encourages practice through paper trading and learning from educational resources.