SOLD !! Congratulations to trader who had bought it on 24 march for swing .. 😬
If you want to profit easily in a market condition that's known to be 'scary', you have to do things that 99% of traders ARE NOT doing.
And honestly…that’s pretty easy.
Because they all do the same old traditional stuff:
Spend hours researching and finding the “perfect” stock
Use multiple strategies and indicators trying to find the best time to buy/sell
Buy low and sell high (yes, you shouldn't be doing this ❌)
This is NOT how you grow your portfolio in 2023.
Instead, do this:
First, it's pointless spending hours just to research on what stocks to buy. 15 minutes is all you need.
On one hand, most of us do not have the time for that.
And on the other hand, there is no such thing as the 'perfect' stock.
What we should focus on instead is finding stocks that have healthy and stable trends we can ride on.
Not the 'perfect' stock or your favourite AAPL, TSLA, etc...
This increases our odds of success and the best part is all you need is a good system in place that can help you identify and filter these best potential winning stocks out.
Second, don’t obsess over using multiple strategies or indicators.
Most people tend to use multiple strategies because they want to be as accurate as possible.
But the truth is by the time all their strategies/indicators are aligned, it is already too late and the stock would have already moved.
All you need is just one strategy that has been backtested and proven to work.
Even with a 50% win rate, you can profit massively by knowing how to cut loss fast and let your winners scale.
And finally, do not buy low and sell high.
One of the most popularized concepts used widely amongst traders and investors alike, it has only caused people to lose more money in the past 2 years.
Most people often find themselves buying lower and lower and eventually catching the falling knife,
Instead, focus on buying strong and selling weak.
Buy when the stock is on a strong trend, and sell when the trend starts to weaken.
Most people are discretionary traders.
Meaning they have no set proven strategies in place and there's always a combination of things going on, including relying on news and advice from friends.
This explains why most people can do well in a bull market but when it comes to volatile market conditions like what we're seeing now, their portfolio is in the red.
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Yes, I think you are right, for the market trend must be grasped clearly