Lone
@lonextrades • 22,226 subscribers
Swing and Position Trading
Shorts
Videos
Qullamaggie on Episodic Pivot Edge is Buying Early In a Move, Not Late “APPS is not an EP. EP is a specific setup. Well, actually no—it can be, but EP is best for a stock that’s early in a trend. This thing is already up 25 percent in less than a year. You know, an EP is for a stock that’s been going sideways for a long time or is coming off for correction. Just because this cap stock is gapping up on news doesn’t make it an EP. That’s not where your edge is. The rich is buying a stock early in a move, not late in a move. That’s what an EP is.”
Lone85,106 görüntüleme • 2 ay önce
Qullamaggie on SMB Capital and Daytrading “Yeah, and I can tell you that the day trading is just most of the time a waste of time, like this SMB that prop firm. I mean, this was like a couple of years ago when I saw a video of their best trader who makes like 300k per year. And that’s a guy who’s been trading for like 20 years. If you’ve been trading for 20 years, you should make 300k a week, not per year. So, that’s another confirmation that day trading is just not gonna cut it if you want to make big money. You gotta swing and position trade.”
Lone138,715 görüntüleme • 7 ay önce
Qullamaggie on Why to Use Low of Day as Stop Loss for Breakouts “What would the price be that invalidates the daily short range breakout? For me the only logical place is at the lows of the day. I don’t know what you’re getting at. If you have any better ideas, shoot. If the stock takes out the lows of the day that invalidates the opening range highs. Like Tesla yesterday took out the opening range highs. Let’s look at the one minute—this is one I traded. Opening range highs were like 863 something, let’s just say 864. Why would I hold it if it takes out this first green candle? Where would I put my stop if you’re not gonna use the lows of the day? What are you going to use? That’s my question.”
Lone18,461 görüntüleme • 25 gün önce
Qullamaggie on Dan Zanger “Dan Zanger, I think he is great. I learned a lot from Dan Sanger. Love your stops, not your stocks. Best motto ever. It’s the same; it’s the same thing again. Dan Zanger too—like he studied what works in the markets. He made tens of millions, and in a few years, he’s probably made 100 million since. Well, he has a lot of articles on the internet, but you can also subscribe to his - I went through all his old newsletters from the 90s to like 2012, reviewing every single newsletter. I just looked at what he looked for regarding the chart patterns. It’s the same thing I look for now. It’s just these simple patterns I talk about all the time, like these channels. You have a big momentum stock that goes up and builds a channel. You have a big momentum stock builds a channel this way. You have a momentum stock does something like this with higher lows. These triangles channels high tight flags. It doesn’t matter if you learn from Minervini, Zanger, it’s the same thing. Or Stockbee. It’s the same thing over and over. It’s so easy you just need to train your brain to see these patterns. On the strongest stocks that’s the key. Not some random piece of shit. People keep posting these random stocks that have these bull flags. But you need the strongest stocks. You don’t have an edge trading some random shit stock.”
Lone99,822 görüntüleme • 8 ay önce
Qullamaggie on Best Trading Books “There’s a couple more. These are the best ones. How to Make Money in Stocks by William O’Neil. This is just so good. I think it’s a fourth edition, the latest one. It’s just timeless. If you understand this, it catches everything that makes a stock make big moves. Every bull market there are certain stocks that make huge moves. This methodology developed CANSLIM. Pretty much you look for stocks that have price momentum and earnings momentum. Pretty much the same way I trade. Well, I used to trade before the market crashed and stopped me out of everything. It’s super super good. Then Reminiscences of a Stock Operator. It’s about Jesse Livermore, one of the most famous traders of all time. There are so many timeless lessons in this book. It’s just incredibly good. And we have the Market Wizards books, which are interviews by Jack Schwager of a bunch of successful traders. There’s so many good lessons in here. I think there’s three or four of these books he’s been releasing, like every five to eight years. I recommend all of them. Yeah, Reminiscences of a Stock Operator is just so good. Kovell, Trend Following is pretty good too. I have that one in ebook format. I don’t have it in physical format but I should probably order it. Trend Following by Kovell. I agree this is a pretty good one too. There’s maybe a few more.”
Lone22,265 görüntüleme • 1 ay önce
Qullamaggie on How Trading Becomes Second Nature “Since you joined Twitch and StockBee. You don’t have time to sleep. Yeah because you’re putting in effort to learn this skill. I’ve already put in the effort. For me it’s autopilot. It’s second nature. I sometimes do the study of setups. But like it’s become second nature to me. Because I’ve done it for so many years. It’s a reflex. I don’t have to put in a lot of effort anymore. It’s like driving a car. When you’re new it’s a lot of effort. Especially if you are in Europe at least like. 13 year 14 years ago when I was trying to get my driver’s license. Most cars were manual so you have to do the shifting. You have to pay attention to all the signs. All the traffic rules, and it takes a lot of effort. Now it’s second nature - I don’t have to think when I drive. It’s all reflexes. Like parallel parking. That was a really hard thing for me to learn. It took a lot of effort. And now I can just perfectly parallel park 9 times out of 10. Without any kind of effort. And if I had put in some effort. I could do it 10 times out of 10. It’s the same thing with trading. Same thing. It’s the same thing with anything you want to learn. It’s a skill.”
Lone23,386 görüntüleme • 1 ay önce
Qullamaggie on Hard Periods in Swing Trading “But yeah, these periods happen a couple of times per year, so it’s just part of the game. You just have to man up and stay patient — that’s the only way. Because I know that the good times are gonna be back. I know that there’s gonna be a period of a few weeks or a few months where I’m gonna make at least a million dollars. I don’t know if it’s gonna be this year, but it’s definitely going to be somewhere next year, and I just have to wait for that time.”
Lone27,490 görüntüleme • 1 ay önce
Qullamaggie on Giving Back Too Much of Your Profits “LK is kind of a scenario where the stock is what - $11 higher than where the price is now - and I’m long 10,000 shares. So if it would stop me out, I would give back 110,000 dollars. I don’t know. I am bullish on it. I still think this thing could hit a hundred bucks this year. But I can’t be stupid. I don’t wanna relive what I relived like late summer last year, where I gave back like 200k in a couple of stocks in profits. Because I didn’t sell. I think it was more than 200k, maybe even 300 k. You know, the market just pulled back and a lot of my stocks just gave back too much money. I don’t wanna be in that situation again under no circumstances. Nope. Nope. Nope.”
Lone11,001 görüntüleme • 19 gün önce
Qullamaggie on How to Make 870% Returns In One Year “As a trader, if you wanna, if you want to make 800 per 870% return in one year, you can do it. There are two main ways to do it, okay? One is to go all in on your favorite stock or someone else’s favorite stock; the other is to use options with call options and hope the trade works out. Or, if you have an exploitable edge or several exploitable edges, you can aggressively exploit those edges. Those are the two ways of making returns like that. The problem is if you are in category 1, where you go all in one stock, on margin or options, you may be really lucky, right? You catch something big, the problem is you’re probably not gonna repeat it the next year or the year after or the year after that. While if you have an exploitable edge, you will exploit, you know. You can repeat it year after year after year until infinity. There is no upper limit; it all depends on you.”
Lone75,591 görüntüleme • 7 ay önce
Qullamaggie on You Need a Special Type of Mentality for Trading “Oh man it’s so funny, the one I stay patient on goes down and the two ones I get impatient on, CODX and VTI, they go up 60% and 80% respectively in a few days. I mean, you really need to be a special type of person to make it in trading. It’s constant mind fucks. They can really get to you, constantly get fucked all over. Like every day you get fucked on something. Variance, okay. I call it getting fucked. Oh, so there is a word for it: variance. Okay, it sounds like your specialty. Yeah yeah exactly. It pisses you off, it frustrates you. I mean yeah. You really need a special type of mentality for trading, absolutely.”
Lone14,450 görüntüleme • 29 gün önce
Qullamaggie on It Took Me 3 Years to Make Decent Money Trading “Some big trades? Dude. I quit school before I even knew how to trade or make any money. Well I didn’t quit school. I kind of finished it. I started trading in the last few weeks of school or so. But it took me like three years to make any decent money. First two years were just losing money. I didn’t have any big trades before I quit med school. Nope. I was broke as fuck. And I just had opened an account to trade.”
Lone11,002 görüntüleme • 21 gün önce
Qullamaggie on Trading is Binary “Oh my god, I’m so exhausted right now. I literally want to go to sleep. Trading is so binary — you have weeks and months that are like watching paint dry, and then you have days and weeks where you need like two heads and six arms and five brains. My brain is fried after these two weeks. No, I don’t take vacations or like… obviously I can, you know, slow down my trading, but look — vacations - if I had missed past last week, I made more money last week than I made last year. Okay, what if I had been on vacation?”
Lone22,123 görüntüleme • 1 ay önce
Qullamaggie on How Long to Go From 9k to 1 Million “How did you go from 5K to 1 million? That’s for losers. I think I did it in 8 years. No, no, no. You know what, I’ll check. I went from 5K — let’s see, from 2013. So my accounts were actually 9K on May 20, 2013. That was the turning point for my trading. May happened. I was down like 50% on the year, and that was the turning point. So in May 2013 I had 90K in my trading accounts. Let’s see when I hit 1 million. January 2018, I hit 1.4 million. So somewhere in December 2017 my account reached 1 million. It took about three and a half years to get from 9K to 1 million. If you have a small account, guys, it’s not hard to make a few hundred percent per year. It’s not hard if you have a small account. Really, you can make it if you’re a short-term swing trader. You can make most years probably easily a couple hundred percent. And that’s the thing — you won’t have a small account after a few years. That’s the beautiful part.”
Lone47,019 görüntüleme • 4 ay önce
Qullamaggie on Minervini’s Small Account Size “Minervini is up 320%? Yeah but what’s his account size, 500k? He trades these liquid stocks. And that’s not… There’s nothing wrong with that. If you’ve been in the business for a few years… But if you’ve been in business for 30 years, you should be worth a few billion, not sell subscriptions. Just my 5 cents.”
Lone78,407 görüntüleme • 8 ay önce
Qullamaggie on How Long to Go from 5k to 1 Million “How did you go from 5K to 1 million? 7 years. 8 years? No, no. That’s for losers. I think I did it in… you know what? I’ll check. So, let’s see from 2013. So, my accounts—like, this is after tax and after commissions and after living expenses—so my accounts were actually 9K in May 2013. That was the turning point for my trading. May of Fannie Mae happened in 20—I was down like 50% on the year, and that was the turning point. So, May 2013, I had 9100 in my training accounts. And let’s see when I did hit one million here. January 2018, I hit 1.4 million. So, somewhere in December 2017, my account reached 1 million. So, about three and a half years to get from 9K to 1 million.” “Like, if you have a small account, guys, it’s not hard to make a few hundred percent per year. It’s not hard if you have a small account. Like, really. You can make it if you’re a short-term swing trader. You can make most years probably a couple of hundred percent. And that’s the thing: you won’t have a small account after a few years. That’s the beautiful part.”
Lone73,807 görüntüleme • 8 ay önce
Qullamaggie on Double Your Account, Double Your Size “Hard to make 17 million? Well, if you make over 200% after taxes and fees, it’s not that hard to make 17 million. Like guys, it’s not rocket science. Like, if you double your account, you double your size, and that’s how you make parabolic returns in your accounts. You can’t sit there and take out money every time you make a little bit of profit, like some of these day trading rooms. You know, they’re shorting these momentum stocks on the front side and their members are blowing up left and right, and they’re like, hey, you always gotta wire out some money. No, you don’t need to. It’s bullshit. What you need to do, is not blow up and trade safe setups. There’s no need for day trading, it’s too hard.”
Lone26,972 görüntüleme • 2 ay önce
Qullamaggie on First 5-15 Minutes of Open are Super Important “Man, it’s incredible how important those first 5, 10, 15 minutes are in trading. Like if you fuck stuff up, you know it’s gonna cost you thousands, tens of thousands, hundreds of thousands — depending on the size you trade. It’s just incredible. Just put your phones on mute, shut off everything, and just focus. And that’s what I missed here.”
Lone21,346 görüntüleme • 1 ay önce
Qullamaggie shows Relative Strength and Momentum Setups “It’s not rocket science. They are flagging and they’re showing relative strength. These are two of the strongest stocks in the markets right now. LK - had a big IPO base. Then it ran on earnings. Pulled back to support. Went back into range and it has been building higher lows for the past three months. And now it has a range here. And the markets have thrown everything they had against this stock. China, all the coronavirus, they closed a lot of businesses, and this thing is just not moving. The China markets went down, the US markets went down, and it’s just holding inside of this range. What does that tell you. When the markets breathe a little bit and they start going higher, where do you think this thing will go if it breaks higher. I think it’s gonna go a lot higher. If they can’t bring it down with all the bad news, where is it gonna go - probably higher. Same thing NIO. It’s a big mover from the lows one of the biggest momentum stocks in the market. Had a lot of bad news there’s been a lot of speculation about bankruptcy. but then they got some financing and now it’s just flagging again. It couldn’t go down with all the shit that’s been happening in the market. They’ve thrown everything at it. It can’t go down. Where do you guys think it will go next time it breaks out. It’s relative strength and momentum. That’s it and it’s getting super tight. Look at how tight it is looks great on the weekly chart. Getting really tight. It’s a five star flag - stock with high momentum showing big relative strength during a bad market period and it’s just getting tighter and tighter building higher lows. This thing has been building higher lows for four months. LK has been building higher lows except for this muddy waters hit piece that hit it on this day here, where it briefly undercut this higher lows. But it’s been also for 3 4 months been building higher lows. What does that tell you - that tells you that buyers are coming in at higher levels every time the stock dips, which means there’s accumulation beneath.”
Lone10,510 görüntüleme • 24 gün önce
Qullamaggie on Anyone Can Do This “Yeah, I started with $3.5 million this year, I’m up like 800 or 900%. It’s insane and I made so many mistakes. Like I can tell you guys, any fucking idiot can do this. Like literally, just don’t be a moron — you have to learn how the market works. You have to stick to rules. You need to have rules in the first place. Like if I can do it, anyone can do it. Literally nothing special about me, absolutely nothing. Or well… my mom says I’m special but I’m not sure it’s a good thing, to be honest.”
Lone30,814 görüntüleme • 3 ay önce
Qullamaggie on Getting to Your First Million “You’ll get there, you’ll get to your first million. You’ll get there, trust me. And after you get your first million, the second million will be easy — trust me on that one. As long as you don’t fuck it up, it all depends on you. Just focus on price action and focus on what the market is doing, and what the market is trying to tell you.”
Lone20,325 görüntüleme • 1 ay önce