What I don’t trade
The Warlock – Kenny Glick – here.
Before I get into today’s lesson, my friend Mark Sebastian is out today…which means that I’ll be bringing my premium Warlock’s World trading room to the BIG ROOM – TOTALLY FREE – at 10:30 a.m. ET.
You can join the FREE ROOM right here.
What do you watch when you put a trade on?
Many new traders watch their profit and loss – or P&L.
In Warlock’s World, I teach my community not to focus on their P&L.
But Kenny, I thought the entire goal of Warlock’s World was making money?
Of course it is, Blanche. But you have to protect yourself.
This may sound counterintuitive, but one of the best ways of protecting your P&L is by not watching it.
CLICK HERE or on the image below for a video explanation.
Especially as a nimble day trader, it’s tough to sit and watch myP&L bounce around after I put a trade on.
But the reason I enter a trade on a stock isn’t because of my P&L – it’s because of what the stock is doing.
That’s why it’s crucial that when I put a trade on, that I continue to watch the stock that I’m trading.
If I watch the stock and I remain disciplined, sticking to the VWAP concepts taught in Warlock’s World, then my profit and loss takes care of itself.
Trading VWAP – especially on an intraday basis – is all about managing risk.
To put it plainly – it’s impossible to properly manage risk when watching your P&L.
That’s why in Warlock’s World, we watch the stock.
So how do we do that?
By drawing significant price levels on our charts…
By identifying some of the most significant chart setups…
And by being ready to punch out and flip the script at a moment’s notice.
Remember, being a true VWAPian is all about remaining nimble, realizing we know nothing, and taking what the market gives us.
And the only place to learn these lessons is in Warlock’s World.
That’s why you have to join me in the BIG ROOM – TOTALLY FREE – today at 10:30 a.m. ET RIGHT HERE, to see these principles in action.
I’ll see you there!
Kenny “The Warlock” Glick
June 07 2022
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