*together with Simpler Trading
Hey Folks, Happy Weekend!
I’m wrapping up a pretty busy week. Lots of great trading setups out there this week… but my HIGHLIGHT was welcoming the trader I’ve learned the MOST from in my career to the Market Master’s Room.
Yes, I’m talking about Mr. John Carter.
Fun time!
[It would be fair to say that most of our RagingBull members have read two books that I highly recommend – John Carter’s Mastering the Trade as well as Mark Douglas’ Trading in the Zone.]
But John is possibly most famous for his first “instinct” million-dollar day trade in TSLA back in 2014.
Pretty much my burning question for him (which I’ve been wanting to ask him in person for all these years…)
“How did you KNOW you were RIGHT about TSLA?”
I am still very baffled by his actions, as I asked him at least three times why he didn’t take profits earlier.
(I would not have had the cahones 🍌to stay in that long – still blows my mind!)
But John had high conviction that he was RIGHT.
He points to a pre-earnings tweet made by Elon Musk before the market opened that day. It triggered him to think, “I’d better watch this.”
It comes down to knowing the markets (and environmental factors such as TWEETS) like the back of your hand to know a squeeze was coming.
He spotted these types of setups MULTIPLE times that year, and in the years since (banking a verified $18.2 Million in trading profits during the C0vid lockdown year of 2020 – INSANE!).
Another reason he’s my favorite trader – he knows how to balance life with trading.
To quote him, “I think there are a lot of parallels between being a good trader and living a good life. The market truly is the ultimate psychologist.”
Some of my other favorite takeaways from talking to John this week include:
Don’t be in the markets every single day. Take a break. Spa day for traders = all-cash position. 🍹💲
Waiting for the right set-up is like waiting for the perfect wave to body surf in Bali. You need to be patient and – when you spot one – time to ride it for all it’s worth 🏄🏄🏄
Pay yourself if you hit a big win – it’s a job, these are your earnings. (Think TWICE if you are considering buying a zebra, though. They are more work than thought) ⛔🦓
Noted!
Listen, if you missed my interview with John, I’m working on getting a replay together.
But in the meantime – you can attend John’s next LIVE session on how to spot momentum trade setups (like that TSLA one) yourself.
Register here… bring your pen and paper… and your questions!
Don’t miss another great opportunity to learn from perhaps the BEST out there.
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