Celebrating and Learning from Trading Wins
Trade ideas in 2024 have been popping up often and are working well.
It is time to review a few trades!
The best way to learn from your wins and losses is to study them and that will be something you find me doing regularly.
I highly recommend it for any trader.
You will also find me squarely in the bull camp for semiconductors, this is well documented, and the trade ideas posted for this sector have been on fire.
Let’s start there!
MRVL continues to push higher, well above the initial profit levels called out, and the options contracts have given triple digit returns. You know I love that!
This trade started with a clean recovery back above AVWAP, signaling the potential move higher.
AMAT was another semiconductor trade that played out nicely, bouncing off of support near 153.28 and making new highs.
Notice the slow grind higher while consolidating near support and the launch higher. Also note that support held a higher low from a few months prior.
I think this entire sector is going to lead markets higher in 2024. Buying the dips should be an effective strategy yet again.
The most recent trade ideas (Jan 23) were in the energy space and both are about to trigger the upside trade!
OXY is one step away and VNOM continues to consolidate.
These trades are still available and the options expiration can be moved out 1-2 weeks comfortably for each.
I am really liking these set ups!
On January 20th I gave trade ideas for UPST and after the big move higher shares have pulled back to support.
A bounce here is the exact retest discussed in last week's newsletter for upgraded subscribers. It might be time to get in those call options.
While you are checking that out be sure to review DKNG after its rejection on Wednesday. Another trade is potentially setting up.
FTNT was another trade ideas and it gapped up nicely. If it retests prior resistance, we’ll have another buying opportunity to take advantage of.
Details on that trade can be found in the same newsletter as UPST and DKNG!
Support at 16.42 for MARA was spot on as the anchored volume weighted average price (AVWAP) from the summer 2023 highs provides an interesting support/resistance level.
Here’s a snippet from the January 15th newsletter posting.
And as you can see, shares have stalled out for MARA but are looking heavy.
I think the next move is lower as Bitcoin drops below 40,000.
HOOD was in the same newsletter and has a very similar situation going on. It is either about to bounce or break down at its AVWAP.
Check out the trade ideas for both!
On January 9th I was bullish about markets in general, and right about that. However, I was not as accurate with SOFI or IONQ as niether upside trade set up.
I always identify the entry point and if it doesn’t hit, there is not trade.
That wasn’t the case for the short trades in NIO and TTD, which worked out nicely.
In the December 28th newsletter, the 8.88 support level was highlighted for NIO as needing to hold. Instead, NIO broke lower and we had a trade for that too.
While shares did not retest the 8.88 level, the break of support has led to continued selling with NIO now trying to hold onto 6.00.
There is no current set up for NIO but support at 6.00 is an important level.
And the short for TTD worked out beautifully, with shares dropping from 76.00 to 61.48 before recovering back above the support level highlighted at 64.79.
That was a huge move down that gave no signs to exit until the bounce at support.
Overall, we are off to a great start to the year and the majority of the trade ideas posted are working out.
More importantly, the key levels identified for entry have been accurate and have kept us out of trades that otherwise would have been bad to take.
Taking the right entry is such a crucial part of trading which is why I always highlight those levels first.
I am getting ready to drop new trade ideas for next week and once again there are a number of prime set ups forming.
Let me know if you have questions about these trades or about any stocks you are interested in. I am happy to take a look.
Have a great day trading!
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Thank you again for reading A Trader’s Education.
-Nate
This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.