🐺 Tesla Earnings - A 20% Move in Just One Day!

Hey there! My name is Jordan and I write about trading for the WOLF Financial newsletter. If you are looking for more trading tips and tricks, I guarantee you’ll enjoy my content on 𝕏, @AcetheKidTA. 

Thanks for reading!

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What a crazy week in the markets it was with Tesla earnings bringing a 20%+ move in one day! The S&P 500 pulled back 0.95% on the week making for an interesting week of intraday trading.

A big lesson I’m learning being a Tesla share owner is that you really have to trust your process. I had plenty of people telling me I shouldn’t buy the stock under $200 while those same people are looking to get into Tesla now after a 20% move in one day.

Moral of the story is do not listen to anybody except for your plan and your process. If I listened to everyone else, I wouldn’t have positioned myself for success the way I did and would be kicking myself for trying to play somebody else’s process instead of my own.

Discipline Is Key

No matter whether you’re a long-term or short-term investor, discipline is the only thing that keeps our accounts alive.

How do we do that? Well that's where backtesting a process and finding a system that works for you comes in. If you know your process works over a long enough period of time, you won’t be concerned with any short-term headways such as missing an A+ setup or taking a loss on the day.

It’s much easier to stay disciplined when you know over enough time you will make money with your strategy.

Another way to achieve more discipline in trading is to achieve more discipline in your everyday life with simple tasks. Such as exercising consistently everyday, eating a healthy diet, making your bed every morning etc.

The way you do one thing is the way you do everything, so don’t expect consistency in your trading if you can’t even get yourself in the gym everyday.

Discipline is a key factor that separates the successful from the unsuccessful and its the reason why majority fail.

Knowing what to look for and then acting on the information you have are two big steps toward becoming a consistent and successful trader.

I hope this helped you guys.

Thanks for reading and have a great week!

-Jordan

@AcetheKidTA