Ten Thousand dollars Profit on the day! What's going on Team! It's Ricky here with Techbook Solutions Hope that you guys are all having an amazing Wednesday Today Ended up performing um or my short position ended up performing a little bit better than expected I left myself with my one lucky share. If you've been following me for some time, you know that that's just something that I like to do. Lock myself with my one lucky share shorting Skq uh or not shorting us shorting the NASDAQ Market with Ash Kiki Q Uh made ten thousand, three hundred and twenty five dollars and do not forget about my three cents Now One of the first things that I want to remind you is that my trade was nowhere close to perfect. If you're part of my learn Plan profit group, you saw my initial trade right.

The market was originally today, going up and then right. One of the things that I brought up was this looks very similar to what happened yesterday. We rallied and then we dumped. We rallied and then we dumped right.

There was an overreaction and then we dumped. One of the things that I also was taken into consideration is even if you look at the one hour time frame, let's go a little bit further back. four hour time frame. We are not oversold based off of recent patterns.

right? Looking at oversold levels that's 260 and 255 for QQQ overbought levels right based off of previous patterns really begins right around 280. we've been rejected at 280 Before we've been rejected at 280. Before we've been rejected at 280 before There are times that we do Gap up to 290 295, sometimes even 300. But those are critical points those are.

You know If we look back to when this happened right? That was the previous CPI data report, we gapped up, but then we quickly correct ourselves. It happens often at any time that we push up anywhere around 280, plus we are considered to be overbought based off of recent patterns. Now, this will not always stay right. Something good, really good has to happen for the market to finally surpass that resistance at 300.

But as of right now, it's a very, very valid resistance level. And this is why when people are asking me about the CPI data report or the PPI report, or even for tomorrow, right? we have. You know some important economic reports that are going to be released: Initial claims, continuing claims, housing starts, and building permits. Those are all economic reports that are going to be released tomorrow.

It's not going to take much for the market to drop if they don't come in as good as expected, right? With up-and-coming earnings with up-and-coming interest rate hikes on the 25th and 26th of January, right? it's not going to take much to bring down the market. So this is why I Always like to remind our Traders right to not just even if you are a day trader, to kind of not be afraid to take a step back and then to look at the big picture. It is much easier right to be able to understand why the market is pulling back based off of recent patterns. when it begins to trade out 280 and then it finally begins to retrace.

If we break that, you know, 277 275 support here on QQQ we're most likely heading back down to 270 and then after that 265. and then after that 260, right? It happens time and time again. right? We've been rejected here. We come right back down here.

We got rejected here. Right back down here we come up and then we get right back down. We push up. Doesn't matter how many times we've pushed up, we come right back down.

Market Just what I'm hoping for is that the market just doesn't sell off as much as it has in the past before. That would be progress, right? Inflation is going down. Interest rates are hopefully less aggressive. This is positive this is.

This is progress for 2023, especially coming from 2022.. But as we do begin to sell off, just know that patterns tend to repeat themselves. They do not always have to. So this is why you know I I was really early to shorting the NASDAQ market right because the NASDAQ Market has been going up.

and what have I been focusing on day in and day out since last week? I was really early last week, but this time it's paying off, right? I'm shorting I made ten thousand dollars today I closed it out. My trade was nowhere close to being perfect I Talked about it earlier today I Learned plan Profit team got to see me enter small and then when we broke above the moving average I stepped on the gas right. So I didn't buy at the lowest price point again. This is the this is the thing that I like to remind people there's no such thing as a perfect Trader I would rather be late to a rally than early to a sell-off right? There's nothing wrong with taking an early position if you know how to manage your position size, right? I can buy 10 of what I intend to.

Let's say that I intend to trade with a hundred thousand dollars I can buy 10. You know, ten thousand dollars and if it sells off, Yeah, it sucks, but it's only ten percent of what I intend to trade with. When this thing begins to break above the moving average and actually indicate signs of an uptrend and momentum is in my favorite direction is in my favorite and it's making higher highs and higher lows then guess what? That's when I can step in the gas going from ten thousand dollar position size to fifty thousand Seventy five thousand. A hundred thousand, right? And this is where again I'm not afraid to lock the profits.

There's a lot of consolidation going on today. At one point, we hit highs of 47.30 I was nowhere close to selling at 47.30 my average sell was right around 46.60 to 46.70 I'm telling you this because I want you to understand I made ten thousand Dollars Today by not being perfect and and beginner Traders have such an obsession of wanting to be perfect, of wanting to maximize every entry and every exit. and uh, you know it doesn't. It's not about that, it's about being effective.

I would rather get in at an effective price point and get out when it makes sense, right? There was no progression. There was no con I mean there's so much consolidation that at that point, an open position seemed like a position that was open to risk. Because the progression was lacking, it wasn't really making higher highs anymore for about two to three hours, and at that point, it was very obvious to me that I was just like okay, there's no progression, opportunity or momentum is no longer present. I'm just going to close it out because worst case scenario, this thing can come right back down and that's the last thing that I want to happen to go from a green trade to a red trade because I got greedy right? 2023 is not the year of perfection.

it's the year of progress and learning to Be an Effective Trader with your time in the market is a step in the right direction, right? So I wanted to use myself as an example. Obviously I trade with a decent dollar amount, but that's kind of like the reason you guys watch my videos, right? It's a form of motivation to know that you can. You don't have to be perfect to do well that you don't have to have a perfect entry I was nowhere close. If you know, the little perfect entry would have been 4405.

And guess what? my average was probably right around the 45 price point. But no one cares, right? Because guess what? I ended up selling still at 46.50 46.60 I Still sold it for a profit, right? So as long as your entries make sense, I Would rather you be someone that is late to the rally versus someone that's early to the sell-off Remember that right? And then at any time that there's indication of a resistance. And if your intention is to day trade that you don't hesitate to lock in profits or to manage or mitigate risk. Remember 2022 was the year of the loss, was the year of um, you know, continuous lack of risk management bag holding.

That's not what we're here to do anymore, right? I Don't care even if you end up in the red. But if you can keep those losses small, that is progress. Remember I would rather take someone that has red days multiple red days. But if you know how to keep them small, if you become a true professional in keeping them small, I View that to be a better and more calculated Trader Than someone that buys a random stock, gets lucky and then sells it for a profit, right? You have no understanding of what just happened.

You just made money. I Would rather have someone that understands what they were trying to go for, but that when things went South they stayed calculated and they're managed. They manage their risk. That's more calculated to me I See more potential in that individual because of the healthy habit of cutting losses.

So think about that. Are you implementing healthy habits in 2023? So I wanted to make sure that you guys were aware of initial claims and continuing claims. For those that are unaware, initial claims are the people that are filing for unemployment for the first time and continuing claims with the people that are filing for unemployment for more than just once, right? So, month over month. I Remember that initial claims have been down and so were continuing claims.

So this means that most people are probably either getting their jobs back end or getting new jobs and they're not filing for unemployment as much as they were in the past before. Is this good for the economy? not the best for the Federal Reserve Because remember the Federal Reserve Initially wanted a higher unemployment rate because they wanted the economy to feel the pressure. So just take that into consideration. But other than that, I just I wanted to use myself as an example.

Um I didn't just want to be like oh, look how much money I made I mean there's there's no value in that, right? I Wanted to. Hopefully you have a positive takeaway from My Success today of not being perfect, right? and hopefully that that's something that can inspire you to not be afraid to lock in profits because we all know that one of the worst feelings when trading is going from a green trade to a red trade. and it's simply due to the lack of discipline of holding yourself accountable and locking in those profits. So very excited to see what the market has, um, you know in store for us tomorrow.

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So I Appreciate your time like always. let's make sure that we're in the year on Agree now! Take it easy team!.