(URGENT) THIS CAUSED THE MARKET TO DROP... | Summary and Q&A

TL;DR

Ricky discusses his recent trading strategy, highlighting the importance of risk management and his decision to buy the market dip.

Key Insights

• 👶 Ricky emphasizes the importance of risk management in trading and cautions new traders against blindly copying his trades.
• 🥺 He highlights the volatility and uncertainty of the market, which can lead to frequent changes in his views and trading strategies.
• 📰 Ricky mentions specific reports, such as retail sales and consumer sentiment, that contribute to the market sell-off and adds that bad news is currently seen as good news due to its impact on interest rates.
• ✳️ He acknowledges the bearish direction of the market but is willing to take the risk due to his recent trading success and the favorable risk-to-reward ratio.

Transcript

so you guys will have to let me know down in the comment section if you think this is absolutely insane what's going on team it's Ricky with techbook Solutions I want to show you a position so one of the things that I talked about earlier today uh actually earlier yesterday is actually uploaded a video talking about there being a bull trap this is ... Read More

Questions & Answers

Q: Why did Ricky buy the dip in the market?

Ricky believed the market was oversold and that the overreaction to the CPI data report presented a buying opportunity.

Q: How does Ricky manage his risk in this trade?

Ricky sets his stop loss at 2.5% below his entry and is willing to risk around $3,000 on the trade.

Q: What factors influenced Ricky's decision to take this trade?

Ricky considered the support range established before the CPI data report and the correction in the market, which he viewed as a sign of the true price point being factored in.

Q: How does Ricky determine his potential profit in this trade?

Ricky estimates a 5.5% return if the market reaches the moving average, which could result in a profit of around $20,000.

Summary & Key Takeaways

• Ricky bought the dip in the NASDAQ market after the CPI data report caused an overreaction in the market.

• He identified a support range around 1780-1790 and viewed the market as oversold, leading him to take a position.

• Ricky expects a resistance level around the moving average and aims for a 5.5% return, managing his risk at 2.5% below his entry.