I traded TSLA 76 times last week

Happy SuperBowl Sunday, Folks! Jeff here. Although I’m no Eagles fan (or Chiefs for that matter), I am an AMERICAN so I’ll be tuning in tonight (putting a small bet on Mahomes of course).

But first I wanted to send you some reflections on my first trading week of February.

It was up and down - in fact, here’s a visual of my trading:

Let’s break this down in chronological order.

Sunday night I may have found my new favorite addiction - afterhours trading on Robinhood 😬… which begin on Sundays at 8 PM EST.

(So now that there is no football I care about, sub in Robinhood 🏹 - I’m NOT an affiliate but I should be.)

I had some nice success mainly trading META for a few small wins.  The only problem is afterhours is so thinly traded you have to wait a long time for movement, even on large stocks.  And at some point you have to go to bed 💤.

Then came Monday.  None of my trading went well for the next three days, including my Bullseye pick ☹️.  I broke my streak of picking good ones there (went with PUTS on SMH).  

The Market has done this for the past two Mondays - fell off a cliff only to make significant comebacks over the next few days (I wonder when it will fail to recover from a cliff dive - maybe this Monday??).

The bad thing I did was play more options  👎.  The good thing I did was try to cut my losses quickly 👍 (which is harder to do with options in general but easier with stocks).  

But then came Wednesday night…and here’s where relative weakness (that I mentioned in Friday’s email) comes in.

I had mainly been trading TSLA Mon-Wed hoping for a breakout that never came.  

TSLA was performing significantly worse compared to the rest of the market, which was recovering nicely.  

The problem was that TSLA wasn't able to participate in that recovery, in fact it was constantly under pressure while other leading stocks were rallying again (like NVDA).

Then on Wednesday it broke below its key support level of $380.

So, even though I had not been having success with TSLA all week, I went heavy overnight with puts.

Here’s TSLA’s week in review:

So you can see Wed (Feb 5th) was a perfect time to go with puts.

My wins on Thursday (primarily due to TSLA) more than compensated for lots of small losses I took the previous days 💪.

If it wasn't for a surge the last hour of trading on Thursday, I would have held into Friday for an even bigger win, too. I just didn't want to risk those precious profits after I finally turned my week around (only took 76 trades on TLSA alone last week!).

On Friday, the success continued with several other stocks from my hotlist that I share with members each day.

I got a nice pop in the opening minutes of trading on Friday, so I buttoned everything up and called it an early weekend!

My wife and I were picking up a car for my college boys, and there just happened to be a casino in that town 🎰. 

So, we stopped by and “deposited” just a few of those TSLA profits into those shiny new slot machines, which was a lot more fun (and probably cheaper!) than sitting at my desk trading all day. 

Now listen, if you can’t surmise this just from this email alone, trading is hard and not for the weak of stomach 🤢.

You have to be willing to lose some if not all of your investment.  I only trade with money that I can afford to lose.

You also need conviction of when to stick with a trade you believe in (as long as you have a great reason!), but also the discipline to reverse course and take losses when the market proves you wrong. 

Trading is a fun game. I've enjoyed constantly learning and teaching about it over the last 25 years. 

If you want to learn from me, first place to start is in Bullseye Trades 🎯 - see the details here but I am live at 11AM EST on Mondays running down the Market for the week (recorded for anytime learning!).

2nd, if you want the full enchilada 🌮, most of my (and Jason Bond’s) live training is the Black Label Trading Room.  Best way to find out details about that is to call Davis Martin (1-443-269-8824 / Davis@ragingbull.com).

Either way, I hope you learned something today…and I hope to see you on Monday!

To YOUR success as always!

P.S. Don’t forget to join JW and I tomorrow at 11AM for live trading our best ideas and full Market rundown! Save this room link → Market Master’s.

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