GameStop Corporation (GME) has become a symbol of the power of retail investors and the volatility of the stock market. What began as a struggling brick-and-mortar video game retailer has turned into a financial saga filled with dramatic ups and downs, attracting the attention of Wall Street, regulators, and the general public. This blog post delves into the journey of GME stock, examining the key events, underlying factors, and potential future developments.
Former swimming-pool contractor Dan Zanger must hold a trading record by having parlayed $10,775 into $18 million in the 18 months between June 1998 and December 1999. He bought CMGI in early January 1999 at $118, rode it to $305, then sold at $138* (*post 2 for 1 stock split) – after which the stock dropped to $87. The trade netted him more than 210 percent in four days. Eventually, the prop trader’s nest egg grew to $42 million – which shows how career changes can make the best swaps.
Discipline is one of the most important traits for any trader who wants to be successful. It is more important than talent, because even the most talented traders will not be profitable if they do not have the discipline to stick to their trading plan and manage their risk.
“Mr. Seykota himself has put together a money management track record with returns of roughly +60% net of fees over the three-decade span of his trading career…”-Futures Magazine Ed Seykota, first featured in the book Market Wizards has one of the best records of all time for any trader. Ed Seykota’s record is as good […]
“The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system.” -Ed Seykota The above image shows the destruction of capital, not only for a losing streak, but also for a string of 10 trades with a 50% win rate; alternating between wins and […]
A candlestick is a type of chart used in trading as a visual representation of past and current price action in specified timeframes. Depending on the timeframe of the chart each candlestick consists of each minute, day, week, or month trading range represented in a single candle. A candlestick consists of the ‘body’ with an […]
In studying a chart for any liquid instrument, traders will observe that prices usually move in a series of peaks and valleys. The direction of these peaks and valleys provide us with a lot of valuable information about price action and direction. They also help us in determining the direction of a trend and levels […]
How much did they start you out with? I don’t remember the exact amount, but I remember that I made $350,000 in my first year, $800,000 in my second, over $1 million in my third, and I never looked back. Do you ever use fundamentals? No, never. There was a three-year period when I had […]
This is what gaslighting looks like.Inflation this year was about 6%, meaning $100 last year would be worth roughly $94 this year.And yet they’re telling you to “invest” in vehicles that give you at most between 1 and 2%, maybe 3 if you’re lucky.Edit for clarification: those top investments are precisely the ones governments and […]
1. Plan your trades. Trade your plan. 2. Keep records of your trading results. 3. Keep a positive attitude, no matter how much you lose. 4. Don’t take the market home. 5. Continually set higher trading goals. 6. Successful traders buy into bad news and sell into good news. 7. Successful traders are not afraid […]