Yes, listening to Shawn you'd think he gets everything right.
He couldn't have been more wrong on that COIN - it reached his level and went the wrong way.
I would like to think I'd have been looking at the bitcoin price at the same time _ I do that, (wth the others like Mara,) which was dropping fast at the time through about $52000. Wouldn't g'tee I would have been, though. Easy not to.
Usually he gets enough right and he's very fast on several, so he grabs 5 wins and 2 losses oe so. Or if not, the direction for the rest of the day is often right, same ratio. Mortals only follow a couple! Bear in mind he starts with some massive number of shares.
That means the price only has to hit his price going the right direction and continue for a little bit. 20,000 shares moving 10cents, then he's 50% out. That's $5000 cleared, "right there" as he would say.
Once he's mostly out, he leaves the rest hoping it'll carry on to his exit point. Once he gave the numbers, when a stock had gone from 100 to 110 and back to 100. He said he'd given half of it back, or something like that. In other words he was still well up because he's taken profit early. WHy the hell he doesn't sell at 109 on the way down, I can only assume he's learned to stick with his first idea - or it's just his ego . Sometimes he gets asked in the chat (I don't use that) and he says "well I only had 25% left". Still a loss - beats me, when it becomes obvious. He OFTEN closes losses without a murmur.
Sometimes I leave a stop order on the safe side of what he says to get going,with a tightish stoploss, but you may have noticed others on there only ever do nothing off the jump and wait to see where things are going, which his my preferred M.O. .
Safer if there's a some huge catalyst, or the stock has moved up a lot in the premarket so you know which way it's likely to go. Then the odds are highly favourable.
It's so easy to get caught up in what Obi calls "the sauce" when a stock buggers about, chasing it up and down. . Easy to lose doing that so I prefer to set a tight stop , lose a tiny bit then do nothing until it's clear what it's doing. As long as it keeps jittering, leave it alone.
Pre/post market prices are at Nasdaq.com, if your platform doesn't show them (like mine doesn't for most).
When the spread is £100 and the next candle twitch is maybe £800, I tend to get out somewhere near a level rather than waiting for it to test it.
This happens to be on the screen, where SMC was dropping: 16.02.24 20:43
There was no strong established level so coming in on a Short, I'd have been out when I saw those 4/5 wicks all at the same price, about the yellow line level. That would do. I'm not keen to wait to see if there's a candle like the one above the orange line. That would have de-risked by sacrificing the last 10-20% of the move between levels (with hindsight). Suits me with such a bonkers stock. That tall blue candle over the orange line is 0.92%, so a potential loss of, errm, £3680 instantaneously, if I was only using that stock.
By the way , does you platform show "levels"? TradingView does if you set it up.
A friend who does stuff with signals he's invented is seeking qudos for predicting the all-time-high, and is expecting it to fall in the next couple of days. I think that's common, which will make it a self-fulfilling prophecy if true.
The NVIDIA results may cause it. It might be fun to be holding some when the results come out. The options traders will have a field day. If the results aren't as stratospheric as some expect then we might see a huge fall, which could drag the market with it. Best not to be holding much of anything!
We've seen crypto rise and I've made use of that, chips also because of AI, and some large changes in gas and oil.
They can all go further but I can't help feeling they've done, until the Next Big Thing.
SO I'm not expecting to be doubling my money in a day again for a while. I've had a ridiculously good run.
Hopefully there will be something like Affirm, which kep going and going, one way then the other.
OH - if you're "up" for it. Namura shipbuilding has been moving even more than usual in Japan 21% then 12% recently, - look at the daily for the last few months.
The P/E is a humble 12, it could go anywhere. It's quite hard to do something safe when it's moving at 5% in a 21 minute candle, though.
