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There’s no such thing as overnight success. It just doesn’t exist. The margin of error is so small in this game, the second you lose your focus or discipline, you can spiral. So how can you avoid this? By focusing on what works for you. Today, Dom explains his ideal setup.
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No two traders have the exact same setup. You have to find the setup that works for you. You have to work, study, practice, and gain experience. What works for Dom?
Multi-day breakouts that have been setting up for many days. Some of his best trades have come from stalking a stock — patiently and carefully tracking. What doesn’t really fly? The stocks that have a run out of nowhere.
You want the stock to prove itself.
Once it starts to set up and you see patterns start to repeat ... that’s usually the same point other traders no longer look at it. If they miss the first move, they scratch it off their list. But keep watching it. If it continues to conform and set up, you can get there early. You can sell into the buying volume.
You gotta do your research and find the patterns that really work for you. Check out breakouts, first red days, panic dip buys, first green days, long-bias setups. Look for stocks that spike on entry level and match up with some of the daily levels and the daily charts that matter. Stocks that then consolidate their highs.
Also, look for stocks that give you range. Look for that consolidation. Make sure you follow with a good risk/reward.
And remember, trading is different for everybody. Try different patterns and setups. Find what works for you. Maybe find a trading buddy. Trade with someone who’s interested in learning with you. You bounce ideas off of each other and learn together.
You gotta work toward consistency. You have to want to improve and get better. So find a way to make yourself accountable, whether you trade alone or with someone else.
When you really immerse yourself into this … when your whole life is trading … it can be a lonely game, but it doesn’t have to be.

#StocksToTrade #StockMarket #ChartPatterns
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.

By Stock Chat

where the coffee is hot and so is the chat

11 thoughts on “Favorite chart patterns from a six-figure student”
  1. Avataaar/Circle Created with python_avatars Danny Hardwick says:

    Thanks Dom for sharing

  2. Avataaar/Circle Created with python_avatars Blake says:

    Young Dom before 1M and Stock Therapy

  3. Avataaar/Circle Created with python_avatars Never_2_Old_Fitness says:

    Great video.

  4. Avataaar/Circle Created with python_avatars Andy Salo says:

    what are the reasons for a halt, and how to judge if a supervova set up might be halted.

  5. Avataaar/Circle Created with python_avatars FlipTheSwitch says:

    I have some clients that are traders, and it's crazy we just talk about trading the whole time. We've agreed that we need a Trader "therapy group",lolz, just to have a sounding board.

  6. Avataaar/Circle Created with python_avatars razzy p says:

    You mean Sponge!

  7. Avataaar/Circle Created with python_avatars MonkeyMan93 says:

    Where is this full interview?

  8. Avataaar/Circle Created with python_avatars Mazen Alawi says:

    You've talked a lot about the benefits of being in Michigan where there's not necessarily a lot of things to do. A few friends and I just moved to Brooklyn after graduating from college, and I'm finding myself constantly turning them and a lot of activities down to study and prepare. Can you give any advice on work-life balance, especially for a beginner trader in such an active place? Thank you!

  9. Avataaar/Circle Created with python_avatars Timothy Sykes says:

    Yes!

  10. Avataaar/Circle Created with python_avatars Артем Заянчковский says:

    Thank you!) Tim, i`m studing for 6 month and 13 days now, i already have good results in trading. My goal is to become a self-sufficient trader. From your angle of view, what should i do: go to High school or go to trading firm, where i will be full focused and full dedicated in order through a few years got this skill on a top level and leave the firm to trade with my own account? Thank you in advance! Your webinars are awesome sourse of information, thank you!) Keep it up!!!

  11. Avataaar/Circle Created with python_avatars StocksToTrade says:

    Hit us up with your trading questions! We love to tackle your trading topics in upcoming videos! 🔥

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