Hubert Senters here.
Let’s take a look at Paypal, PYPL buy signal one day above the cloud. Obviously the election still up for grabs. It’s close. No winner has been officially announced.
Obviously the markets went crazy today. That’s a good thing if you like the intraday trade volatility is a good thing.
Take a look at Paypal. It looks like it’s going to go above $195 over the next couple of days. And I think it get up. Let’s do some fibs and see where I think it’s going to go here.
One. Two. So it’s already headed to the fib number of $195. Then if it closes above $200 it can potentially go as high as $209.
Got some more question here. I’m getting a lot of questions. I may break this up in the future. Let me know because of you guys are the ones I’m making these videos for. I might start doing two videos a day.
One in the morning for Q and A and one for market and then one either answering questions AM and then in the PM doing the market videos. Just hit reply if you got thoughts on that. My biggest problem is buying prematurely before actual buy signals are hit. How do I stop?
Fool disclaimer. I’m not a therapist. I’ve trained all kinds of animals in my life. Go get a rubber band. Put a thick one. Put it around your wrist every time you break that rule pull that bad boy back.
A good five, six inches and let it fly. It’s going to hurt like a son of a bitch but it might break the habit. Same thing we do shock collar in animals in a human way. I know emotional buying has something to do with it. You think? But I buy before buy signals are hit and do not protect my position well enough. Tom.
First, stop trading initially until you can actually follow something that looks like a plan I wouldn’t trade because if you don’t what’s going to happen is you’re just going to grind your account to dust. I’ve heard different numbers throughout the industry. Most people blow up three accounts before they figure out how to do this business.
I have no idea if that’s true or not or if it’s just the same, you know, on the street and stuff. But until you can follow a decent plan then you’re going to be at the whim of the markets because you’re trading your emotions.
So what I would do is I would spend sometime. It didn’t have to be a great plan. Just be a plan. It doesn’t have to be an excellent plan. It doesn’t have to be executed perfectly. You just got to have a plan and try to follow it as close as you can.
You can modify and stuff like that. Always make sure you have a stop-loss And then start practicing some with the demo account and doing that you can get your reflex to a second nature. And then you can come back to the real trading world and trade small size and kind of work it up through that. You probably get some good self help books.
I would use Tony Robbins stuff. Good use of help Paul Tudor Jones, one of the best traders in the world. Get a hand on his stuff. I mean he’s got a program called The Edge. Go check that out. He’s got a personal power, that’s decent. You know it just all depends.
I mean you just got a little bit of discipline in order to follow something like a plan in order to do that. And there’s not a silver bullet and there’s not a pill I can give you. I wish there was.
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Good luck. Hope it helps. See you on the next video.
Hubert.
