The name of the game for Crush the Open is to have fun and talk trading, trading, trading…
We also mix in some teachable moments along the way to help you become better traders.
Because the fact is, this game, this stock trading game, is designed to take you, the retail trader, behind the woodshed and fleece you for every penny.
And we don’t want that to happen, so today we discussed a couple of key lessons every trader should learn early on to help raise their odds of beating the house.
Step 1 is learning how to cut losers and just move on with your life — don’t let your ego make you double and triple down on a losing trade. That’s a good way to lose more money.
Everyone has losing trades. That’s just a fact of life for everyone who has ever traded stocks. And if you can’t accept that, then you shouldn’t be trading.
When it comes to one of the single hardest things to learn, Step 2 is sitting in winners and holding them… letting them run. That’s a tough, tough thing to do. But once I learned to let my winners run, that’s when I started seeing my P/L (profit and loss statement) really start to explode higher.
If you can learn to cut your losers and let your winners run, you’ll take a massive step forward in your trading success.
That said, we have a massive day for the market on Friday with the latest jobs number. They expect 223,000 new jobs created for the month of February after a surprise 517,000 created in January.
If I were a betting man, which I am… I would expect the number to again be higher than projections. I don’t think January’s massive jobs number was a fluke. And if it comes in high again, it’s going to be some rain on the parade because it gives the Federal Reserve more runway to raise rates.
I’m leaning bullish, particularly in tech names. But whatever happens Friday could determine the near-term direction of the market.
Now, trading lessons out of the way, it’s time for some red meat trading ideas…
Lance and I covered trade ideas in DraftKings Inc. (Nasdaq: DKNG), C3.ai Inc. (NYSE: AI), I even gave away one of my long trades from Money Flows Elite this month, so check out Crush the Open up top and LFG!
I’ve been tweeting a lot more… charts, news reaction and general trading information, so be sure and give me a follow on Twitter @jeffzan.
You can also join my free Telegram channel, where I share market insights in real time throughout the week, articles, videos and more!
*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk.
P.S. US EMERGENCY: Oil Inventories at Lowest Level Since 1983
Oil inventories are at the LOWEST levels they’ve been since 1983 here in the states… Another massive surge in energy prices is looming… So I’m going LIVE at 1 p.m. ET on Tuesday, March 7, to break down my No. 1 “Supercycle” energy play! Not only will I hand you my top play just for attending… but I’ll also show you the hedge fund trick I use to find these plays…
The same strategy that returned:
- 218.87% on EEM in 30 days
- 146.76% on IWM in 42 days
- 35.14% on UBER in 19 days
Go Here to Register and Save Your Spot!
Past performance is not indicative of any future results. Trade at your own risk. From 1/1/22 to 3/6/23 the win rate is 63.6% on the stock, the average return per trade on options is 8.44% (winners and losers), and the average winner is 138% with an average hold time of 31 days.