Can We Hold the Bounce?

By Andrew Aziz  |  
Andrew's Newsletter  |  
May 31, 2022
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Dear Traders,

I hope everyone had a great long weekend and enjoyed time with family and friends. The market bounced back heavily last week and provided some excellent opportunities. Today, the Chinese sector and the tech sector were volatile again, and Brian and I had some amazing trades on SPY and TQQQ, as well as NIO. You can watch our recap here.

Also, as you know, last week we launched a prototype of our Trading Terminal. I note this is only a prototype. We are refactoring the source code and hope to launch the main terminal in about 3 months. We plan to add more features into it such as scanners and indicators, all designed with the success of our members in mind. We apologize for any shortcomings it has, but we needed to launch it so we can get some user feedback. Shoot me your feedback and suggestions!

Today’s Global News and Financial Recap

President Joe Biden will hold a rare meeting with Federal Reserve Chair Jerome Powell today, amid the highest inflation in decades, which has angered Americans and hurt his standing with voters ahead of mid-term elections. They will discuss the state of the American and global economy, according to a White House statement. Treasury Secretary Janet Yellen is also scheduled to join the meeting.

At Bear Bull Traders…

Today, for Tuesday Strategy, beginning at a special time of 5pm ET, Aiman will lead a webinar entitled: TradeBook: Trend Trading. Trend trading is definitely one of the most exciting types of trading out there. The initial stop losses are small, the trade itself unfolds at a slow pace, and the potential reward with just a few adds to your position can be great. However, finding a stock that might be a solid runner is the difficult part. In this webinar, Aiman will explain how to find possible runners for the day as well as how to best execute a trend trade while at the same time significantly minimizing the chance of getting stopped out.

Tomorrow, for Wednesday Psychology, Dr. Kenneth Reid will be discussing: Trader Development: Will I Ever Get There? Most aspiring traders have a timeline for their trading journey that is a tad unrealistic. Even with the best mentoring, traders cultivate competency via an “organic” developmental process that can’t be rushed. In this webinar, Dr. Reid will present 2 developmental models that will help you identify what stage you are presently at, what your next step is likely to be, and how to relax and enjoy the process. Dr. Reid’s webinar begins at 8pm ET.

At Peak Capital Trading…

Today, at 5pm ET, Mike will be leading a TradeBook session entitled: Selecting the Right Journal Criteria to Evaluate Your Strategy. Mike will discuss what information to focus on in your trading journal in order to help you find your strengths and weaknesses and, in turn, improve your trading success.

Later today, at 7pm ET, John will be discussing: Developing Your Strategic Focus by Trading a Single Strategy. John will review the pros and cons of using only a single trading strategy in order to better hone your abilities.

On Wednesday, John will be leading his regular Wednesday evening Group A meeting via Zoom at 4:30pm ET.

And Finally…

I am flying to Norway tomorrow to run 50 miles (80 kilometers) above the Arctic Circle. Wish me luck and, if you are in Oslo, please do let me know as I’m looking forward to holding a meetup at the end of the week. I dare say, this will be one of the harshest one-day races I have ever challenged myself with!


To your success,
Andrew

PS: If you have not already, I urge you to try out our free web-based trading simulator at stocktradingsimulator.com. It’s conveniently available 24/7, whenever you have time to practice your trading skills.