The Fed raised interest rates by .75% yesterday — but as I said on Tuesday, it doesn't affect the way we trade.
In fact, we had another huge penny stock gainer yesterday.
If you weren't able to capitalize, don't feel bad. Trading can be frustrating…
You'll have losing trades, the wrong ideas, and bad timing…
But as frustrating as those are, they don't make you a bad trader.
The key is to learn from your mistakes and adapt to what you see happening on the chart and with the price action.
It's like having a baby…
The doctor gives you a due date for you to plan around … you think you have time to paint the nursery, get your bag packed for the hospital, and install the car seat…
But that baby can come anytime. And when it's time — there's no stopping it.
Yesterday in my morning SteadyTrade Team webinar, I said I didn't like AeroClean Technologies, Inc. (NASDAQ: AERC).
At least not THAT DAY…
But, the stock was still up 600% on dubious news from a week and a half ago. And the shorts were still trying to guess the top.
So I liked it for a weak open red to green. But I wasn't sure if it was the day for a big squeeze.
I know hope isn't a strategy … But I was hoping that as we got closer to Friday AERC would slowly grind higher and squeeze through $20 on Friday…
But like the baby that's ready to be born, AERC couldn't wait…
It went from red to green, then squeezed through the high of the day, and Tuesday's intraday and premarket highs. (Also, $20 is a whole dollar key psychological level.)
You could've bought the red to green move and held it as long as it was above VWAP. You could've bought the afternoon high of day break. Or any of the other levels it broke on the way up...
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*Please note that these kinds of trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade, and individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.
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