Chris

FOCUS - Tomorrow $CBRS - TOP TOP TOP FOCUS - Volatile - Risky $CRCL $COIN $DOCN $AAON $PTRN Secondary $NBIS $RIOT $WULF $WYFI $HOOD

What I’ve found helpful to hold for bigger moves: (Fully prepared for this to top the market 😂) 1. Turn off your PnL. Absolutely no reason to be staring at it everyday. Will only cause you to make emotional decisions over objective ones. I just track my positions in charting software apps and only log in to my broker when I need to do something. 2. Weekly charts. Once I have decent cushion I try and track my positions using mostly weekly charts. They smooth out the noise and make healthy pullbacks look less violent. Also much easier to see the bigger trend and find it makes it easier to stay objective. 3. Get off the screens. Once I’m heavily invested and have cushion I try to disengage a little from the markets. A stock is going to do what it wants whether you check it 2 or 50 times throughout the day. But just like the snack cupboard, the more you look the more likely you are to do something you know you shouldn’t. 4. Give them a little wiggle room. Once I have significant cushion I try to give them the benefit of the doubt. So if they crack a key MA or price level I like to give them chance to reclaim it. So if they break it intraday I try and wait until the close to see if they recover. If they break it midweek, I try to give them until the end of week. Some discretion here, if they break hard and 20% below the key level then that’s different to 5-10% for example. Sometimes it won’t work and you’ll sell a little lower than you’d like, but rarely significantly lower. A lot of other times it will be a shakeout and they’ll recover. 5. If a stock is doing nothing wrong then leave it alone. SNDK a great example from the last run from 1/2-1/30. The entire leg up it just rode the 5ema. In cases like this I leave them alone until I see a change of character, in this case either a break of the 5ema or an upward acceleration away from it. 6. Accept you’ll never sell at the top. Another reason why staring at PnL isn’t helpful. You’ll always drawdown off highs, and that’s fine because it’s not the goal anyway. The goal is to catch the meat of the move and to make significantly more than your average loss over a long period of time. Process over outcome. The goal should be to follow your process as strictly as possible. The money is just a side effect of doing this. I don’t typically trim positions as I don’t see the point in taking a ~2-5R gain from a trim when my goal to to maximise the few big outliers each year. And it also doesn’t help me to hold for longer. But if trimming helps you to hold for a bigger move and you’ve ran the numbers for your strategy then that can be helpful as well.