A good setup idea can change your financial future forever…..
If you do not understand the concept behind setup selection you will struggle for many years.
Scanning for stocks is not going to help you.
Preparing elaborate watch lists is not going to help you.
Asking everyone about “what do you think of XYZ stock ” is not going to help you
Unless you understand setups as key to profitable trading you are unlikely to make much money.
Everything in this business ultimately boils down to setup .
Strictly defined setup and expertise in trading that = money money money
All successful trader have well defined setups and then they exploit it day in and day out in favorable market conditions.
If you have well defined setup , you would be able to instantly recognize good opportunities and enter or exit them.
If you have well defined setup, you will be able to prioritize ideas and not waste time on marginal stocks or others ideas.
If you have setup oriented mentality you will ask everyone who posts trade idea to find out what setup generated that trade.
If you have well defined setup you will know instantly your entry, exit stops rules and not be a clueless person post entry. You will not be asking others what you should be doing.
If you have well defined setup, you will not be easily influenced by any and every new tactic people talk about or sell as the new new thing.
If you have well defined setups you would not be making new rules and adjustment everyday.
If you have well defined setup you don’t need CNBC, Cramer, Stocktwits, Stockbee site, or any other distraction.
All you need is your software to generate your setup idea and your own guidelines
Setup selection is the only way to eliminate the problem of cognitive load involved in trading.
Sooner you understand that the better it is.
Key to “profitable” trading is setup selection.
In the beginning master just 1 or 2 basic setup.
It will take you 3 to 6 months to perfect it. Most people who have very well defined setups have taken 5 to 10 years to arrive at it.
This site helps you compress that period to 3 to 6 months if you seriously put your heart or soul in to it.
You just need one or at best two well defined setup ideas to make lot of money in the market.
A good setup idea can change your financial future forever…..
Think setups not stocks
Source: http://stockbee.blogspot.com/2021/01/a-good-setup-idea-can-change-your.html
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