From time to time, you might find an equity that traders and investors are betting against, but they prove all the naysayers wrong.
If that stock has high % short interest, and it starts to trend higher, you have the potential to penalize the naysayers who will all have to pay you to cover.
Look for high short interest and uptrends.
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Great traders are using technical analysis to protect their capital which is job #1.
If you know your risk, the entries are not that important.
Most amateurs focus on the wrong things for several reasons.
They don’t have solid goals, they are too short-sighted, and they are not friends with their feelings.
Start by putting yourself in a paradigm of making money. Sniper-like “precision entries” is marketing jargon to make you feel like it’s important.
It’s not.
Risk management and position sizing are what matter.
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When you’re doing well, ask for more money to manage.
Ask for a free Bloomberg or CQG.
Ask for forgiveness of desk rent or fees.
Ask for a higher payout on your trading profits.
If you don’t ask, they own you.
If you don’t ask, it’s knot going to just show up.
You have to ask for it.
Make your case and have confidence in yourself.
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Bet size determines what you make and lose.
How did you come to decide your current bet size?
You probably guessed and just chose one.
You can use Kelly Criterion to figure out the best size after hundreds / thousands of trades.
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Sidestepping the large losses will do wonders for your P&L and also build enormous trust between you and your clients.
They’ve already lost a great deal of money on their own or with another manager.
Admit your wrong and get out.
The client will forgot your being wrong about a name over time, but they will not forget a 40% hit.
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