@CTUCyberGroup Lesson: Easy Way to Increase Profits
Today was a rather slow day in the market, but as usual it didn’t affect the CyberGroup PRO Live Trading Room. We had some big winners shorting $OGXI $P and $CSIQ this morning. Into the afternoon $OGXI fell even more and we were able to add $JCP $SWHC and $P on the long side.
Today I want to talk about something that can literally increase your profits without really changing anything in your trading. I’m even going to use the $AAPL chart from April 24th as my example, which we know 99% of us out there aren’t day trading. Take a look between 9:45 and 10:15. Do you see the support set at $561? I was going over one of our students trade journal with them today and noticed something so incredibly simple it could have increased their profits by over 50%. This student, just like most of us, sometimes start to panic when our trade starts reversing direction. If you calculated your trade right and have set the right game plan there really isn’t any need for it. I’ve looked at so many charts in the course of my trading and not one of them ever went straight up. I would love to see an intraday chart starting from 9:30am with a straight line up all the way until 4pm but it just doesn’t happen, but this particular student would have this reaction like most. It just so happened that a huge percent of the time, he would panic and sell right at a support level. After looking at only a week of his trades he could have doubled his profit that week just by holding his trades. Take a look back at your journal and see if this sounds like you. By simply holding onto the trade and letting it bounce off that support it can turn a day in the red to a day in the black.