Kris Kullamagi Breakout Setups
- Thread starter fan27
- Start date
Imo this is incorrect theory.
Often the strongest stocks which have held up in a selloff will underperform once a new rally begins because they are not at bargain prices.
Think this way; A strong quality stock will run hard & become overbought during the previous rally.
On a mkt selloff these types will selloff hard due to profit taking. They then become oversold.
In a new rally, these will run hard again.
His primary strategy is a breakout strategy.How can a breakout strategy work if nothing is breaking out? LOL. That seems to be where we're at ATM. Sure other strategies are working during this correction...daytrading,mean reversion,etc but he doesn't seem to be interested in those plays. I've heard him mention in the past a favorable market for his strategy only happens 2 or 3 times per year,if that. I guess you just need to be ready when it happens,then go in with guns a blazin.
Somewhere in my list of why traders fail is "Impatience".
And in my list "Time is money" and ............ "Money never rests".
It's just that I like my money to take the best jobs. Sort of like consulting, only work when someone is willing to pay well. Take the rest of the year off and enjoy life. I hated having to go to work every day and I have to assume my money feels the same way.
Deaddog was mentioning one reason why he feels traders fail...
Are you saying "Money never Rests" is a positive trading trait or negative???
It appears you are both referencing the same trait,but with different outcomes
Are you saying "Money never Rests" is a positive trading trait or negative???
It appears you are both referencing the same trait,but with different outcomes
They are one and the same. Combining the two, Time is money therefore it never rests.
Of course one also needs to be patient and take time off here and there. Just had 5 day Thanksgiving weekend, completely away from PC/trading forums/etc. Though that was the longest I was away from things in maybe 10 years. I love this stuff, so you do what you love. that's all.
Simply put,you don't believe in relative strength and breakouts..
Momo/Canslim dgaf about bargain prices..
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Momo/Canslim dgaf about bargain prices..
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