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$300 to $3,000 Challenge
Can You Be Discipline Enough?
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The $300 to $3,000 Challenge
This challenge or similar versions are always trending.
One of our trading partners is doing a $300 to $3,000 options trading challenge. For those who are looking to focus and lock in some trading profits before the end of the year here are 3 concepts to remember.
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3 Concepts To Remember
Dont Be A Hero
You rarely make your financial goal off of one singular trade. Ease in, start small, then play with profits. There is no time limit. If it takes you 30 days or 3 months who cares! The focus should be on consistency and completing the challenge.
Low-Risk High Reward
High-risk high reward trading opportunities are more common than low-risk high reward. The key is patience. If you hunt the market correctly then it may only take a few swing trades.
Are you looking to scalp the market or swing the market? Either way, if you like high risk high reward DO NOT flinch at every large candle. This can lead to multiple fakeouts a day. If you like a low-risk high reward, don’t hold on to a trade for too long just because “it was a cheaper trade”.
DO NOT CHASE.
I repeat. Do. Not. Chase. If you missed an entry, Let it go!
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To conclude this section, I want to state I am not much of a fan of these challenges since they often cause young traders to take risks they cannot afford. Stock trading is not a get-rich-quick scheme. The market wants to take your money and it’s your job to prevent that outcome.
Investor’s Notes
A key investing setup:
I will now call it the “silent bull”. Revenue is going up and stock price is decreasing.
(Monthly Chart vs. Quarterly Revenue)
As an investor looking for opportunities during downtrends, I like to see a profitable company not going viral on social media for doing 100 points in a day. At the end of the day the company I choose to give money to needs to make money, so searching for companies with similar characteristics is what I will continue doing.
Companies like $BABA and $PLTR come to mind.
Must Read News:
There was a lot of material that came across our radar over the holiday weekend. These are a couple that we think are worth reading.
Winners & Losers + Most Active
Presented By Yahoo Finance
I have 3 ideas for this week.
It’s not $TSLA, $NVDA or $AMZN. I’m starting the week off simply focusing on … 😉
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