The stock market is a very wild, and tough, market to be trading in if you are new to trading or have a small account. Be careful in these conditions, especially with inflation coming before we know it. The CPI numbers came in today higher than expected, but yet for half of the day we melted up. Then the biggest bull trap we have seen in a while happened and erased all of today’s gains plus some in a matter of 2 hours. If you are a beginner trader and have made any type of gains these last 2 weeks, be careful and it is best to not trade at all. Protect your gains whenever possible; a 20% trade on options is a great trade, so take your profits when necessary.
Although us, at MSL, have been killing it, we say all of this from first-hand experience which is why we are crushing the markets right now. Position-sizing and patience is the key factor in these type of stock market conditions because who knows what will happen tomorrow? None of us! Only thing you can do is follow price action and wait for a confirmed trade.
You have to follow where the money goes in the stock market, and be nimble in doing it. At MyStockLife, we help teach you just that because that is what will make a better trader stand out from others. If you haven’t already, at least check out the MyStockLife free Discord with the link below. There’s even a ton of bangers in there too! You don’t want to miss out!
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