(Day 1) Short Selling Nasdaq Crash With $500,000!

TL;DR

Ricky from Type of Solutions shares his successful day in the stock market, earning over $30,000, and discusses why he chose to stay cash for the upcoming week due to market uncertainty.

Transcript

the stock market might have been read today but boy were we green what's going on guys it's Ricky with type of solutions a quick little market update 27 229 on ask KQ but have no fear we closed that position out and I also jumped into tqq on the nice little rip up up to the moving average and I called out my entire trade to the lpp team within our ... Read More

Key Insights

• ❓ Ricky emphasizes the importance of preparation and not being affected by market fluctuations.
• 🎚️ He highlights the significance of understanding support and resistance levels and identifying overbought and oversold conditions.
• ☠️ Ricky's decision to stay cash for the upcoming week is based on the uncertain market behavior and the Federal Reserve's rate decision.
• 🤗 He promotes an open mindset and being ready to take advantage of trading opportunities, regardless of market direction.
• 😤 Ricky's success serves as motivation for beginners and he offers his assistance to those who have questions or want to join his LPP team.
• 😤 The coupon code for a discounted membership to the LPP team is available for a limited time.

Questions & Answers

Q: How did Ricky earn over $30,000 in one day?

Ricky closed out his positions on ask KQ and jumped into TQQ, earning profits from the market's upward movement. He shared his trade ideas with the LPP team and made $4,053 from TQQ and $27,229 from ask KQ.

Q: Why didn't Ricky hold his position over the weekend?

Ricky chose to stay cash because next week is the FOMC meeting where the Federal Reserve will announce the rate decision. There is a 98% probability of a rate pause, but the market's behavior is uncertain. Ricky wants to play it safe and be open to both short and long positions.

Q: How does Ricky approach trading in a sideways and contradicting market?

Ricky believes in being open to opportunity and not forcing only one side of a trade. He compares it to dancing with the market rather than stepping on its toes. He will go short if the market breaks below support levels but will also consider going long if the market shows signs of recovery.

Q: What is Ricky's account size and why does he disclose it?

Ricky trades with over or at $500,000. He discloses this information to provide transparency and context when sharing his trading profits. He wants viewers to be aware of his account size and consider it when seeing his trading numbers.

Summary & Key Takeaways

• Ricky closed out his positions and made successful trades, earning over $30,000 in one day.

• He explains that market fluctuations are normal and it is important to be prepared for both bullish and bearish days.

• Ricky chooses to stay cash for the upcoming week due to the Federal Reserve's rate decision and the market's sideways and contradicting behavior.