#$csiq

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Chemed, Ticker: $CHE

Chemed, CHE, paused in April after rising from March low. It consolidated until driving to a new higher high in May. It could not hold up though and fell back into consolidation. That continued until it broke higher Thursday. The RSI is rising into the bullish zone with the MACD lifting off of zero. Look for continuation to participate…..

Cabot Oil & Gas, Ticker: $COG

Cabot Oil & Gas, $COG, rose to a top in April and then fell back. It bounced at the 50 day SMA and retested the high in June. That led to the drop below the 200 day SMA. It ended last week moving back higher though with the RSI rising and the MACD turning. Look for continuation to participate…..

CrowdStrike, Ticker: $CRWD

CrowdStrike, $CRWD, started higher in March and continued to a top in June. After a slight pullback it ended last week back at resistance. The RSI is rising in the bullish zone with the MACD turning to cross up and positive. Look for a push over resistance to participate…..

Canadian Solar, Ticker: $CSIQ

Canadian Solar, $CSIQ, started higher in March and closed the gap in May. It has stalled since, ending last week at resistance for the 3rd time. The RSI is rising in the bullish zone with the MACD moving higher and positive. Look for a push over resistance to participate…..

Atlassian, Ticker: $TEAM

Atlassian, $TEAM, started higher in March and reached a top in May. it has consolidated under resistance there since. The RSI is rising into the bullish zone with the MACD rising and positive. Look for a push over resistance yo participate…..

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After reviewing over 1,000 charts, I have found some good setups for the week.  These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the first half of the year in the books, saw equity markets showed renewed strength into the holiday weekend.

Elsewhere look for Gold to continue higher while Crude Oil joins in a move to the upside. The US Dollar Index continues to drift lower in consolidation while US Treasuries consolidate. The Shanghai Composite looks to continue to the upside while Emerging Markets also move higher.

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Canadian Solar, Ticker: $CSIQ

Canadian Solar, $CSIQ, pulled back from a top in early March, finding support at the 200 day SMA. It bounced from there and has made a series of higher lows and higher highs since. Coming into the week it is rising and near prior resistance. The RSI is also turning higher with the MACD about to cross up and positive. Look for continuation to participate…..

Denny’s, Ticker: $DENN

Denny’s, $DENN, started a move higher in April, and trended up to a top in early September. It pulled back from there to the 50 day SMA and found support. Now it is rising again with the RSI moving higher and the MACD turning up. Look for continuation to participate…..

Horizon Therapeutics, Ticker: $HZNP

Horizon Therapeutics, $HZNP, drifted lower to the 200 day SMA and based there until a bounce in August. That stalled short of the prior high and pulled back. Now it is moving higher again with the RSI rising in the bullish zone and the MACD about to cross up. Look for continuation to participate…..

Marathon Petroleum, Ticker: $MPC

Marathon Petroleum, $MPC, trended lower from a top in September last year. It has bounced along the way with the last low in August. Now it is at short term resistance with the RSI rising in the bullish zone and the MACD rising and positive. Look for a push over resistance to participate…..

ServiceNow, Ticker: $NOW

ServiceNow, $NOW, rose off of a bottom in November. It gapped up in February and continued higher to a top in July. It has pulled back from there and is consolidating under resistance coming into the week. The RSI is moving higher towards the bullish zone with the MACD crossed up and about to turn positive. Look for a push over resistance to participate…..

After reviewing over 1,000 charts, I have found some good setups for the week.  These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the September FOMC and Quadruple Witching behind, saw equity markets held up well until more trade issues hit Friday. Even so, the declines were minor as the index ETF’s hold near their all-time highs.

Elsewhere look for Gold to stall at 1500 while Crude Oil consolidates. The US Dollar Index is still drifting to the upside while US Treasuries bounced in their downtrend. The Shanghai Composite is consolidating the short term move higher with Emerging Markets stalling in their short term rise.

Canadian Solar reports higher revenue for Q2

Canadian Solar Inc. (NASDAQ: CSIQ) reported total revenue of $1.03 billion for the second quarter of 2019 compared to $484.7 million in the same period last year.

GAAP net income attributable to Canadian Solar was $62.7 million, or $1.04 per share, compared to $15.5 million, or $0.26 per share, in the prior-year period. Adjusted net income attributable to Canadian Solar was $46.4 million,…

Canadian Solar (NASDAQ: CSIQ) Q4 Earnings

Canadian Solar (CSIQ) is expected to post its fourth-quarter earnings early on Thursday, before the opening bell.

  (This is the earnings report story. The article will be updated LIVE as soon as the earnings results are announced.)

  With the oversupply of solar modules plaguing the market by dipping prices and cutting demand last year and the China-US stand-off worsening the situation, 2019…

Earnings Preview: Improved industry macros to help Canadian Solar in Q4

The solar industry has been affected across the board last year due to tariff wars between the US and China, the oversupply of solar modules resulting in falling prices and lower demand impacted the solar companies. However, things are turning better in 2019 with global demand expected to increase with more capacity additions would be a welcoming sign for the industry.

The positive momentum is…

Last month on Twitter, I spotted this tweet and impressive equity curve from a developing retail trader:

As the managing partner of a proprietary trading firm in NYC, I study traders succeeding.  This retail trader is succeeding! I reached out and asked him a few questions (in bold), hoping to learn from his success.  Below are his answers.

Who are you and where are you from? Why did you get started in trading?

I’m a retail trader from Sydney (@_jpark89 on Twitter) and videos such as “How to make $1000 in 10 minutes,” “How to buy stocks before they spike 200%,“ “How to turn $1000 into $10,000,” were my introduction to the trading world.

Since then I made some easy money (100% luck), blew up a couple accounts, started over with a $600 account (third time’s a charm) and recently crossed $100,000 in overall profits.

What obstacles have you overcome to succeed? Why have you been successful?

Trading wise, I’ve had to deal with the same obstacles most small retail traders face when starting out. Inadequate guidance, small account, high commissions, lack of borrows, you name it.

Why have you been successful?

I think I’ve been successful because I didn’t use these “obstacles” as an excuse for why I couldn’t make it and put in the necessary time and effort in order to succeed. I worked to support myself financially, I traded or at least watched the market action from 9:30am to 4pm and did the required work outside of market hours in order to improve (which in the beginning, I didn’t even know how to do).

What mistakes are underperforming traders making that you are not?

I started posting my daily P&L on Twitter in mid-2016 as a way to objectively document my progress and connect with traders who may be at a similar level. Through this process, I was able to connect with traders of different skill levels. There were a handful of common issues that I was able to identify among the newer or not yet consistently profitable traders, but the two that stood out to me most were that they:

1) Focus too much on their P&L and not enough on process

They equate positive P&L to good trading. Sure, who in their right mind would prefer to lose money over making money? Let’s say for example this week, Monday through Thursday Trader A made $100/day and lost $100 on Friday. Does that mean Friday was Trader A’s worst trading day? Not necessarily. In my opinion, trading is a game of probabilities and risk management. The best you can do is enter trades when the odds are in your favor and manage your risk accordingly. There is no strategy out there that has a 100% win rate (except the guys who trade on a laptop by the beach with bad WiFi) and therefore you will have days where you do everything right and lose money, just as some days you will make horrible decisions and walk away with a profit. The focus should be on something you have full control over, such as solid trading practices, whatever that may mean to you. If your strategy has shown edge over time, the only thing you need to worry about is the consistent execution of your plan and P&L will take care of itself. Who is likely to be the better trader; the guy who made $10,000 in his first and only trade or the guy who made an average of $100/day over 100 days?

2) Cannot define their edge and make setups their own

It may be beneficial to learn setups and ideas from others especially if you are new. However, somewhere down the road I think it’s absolutely necessary to have your own take or variation on those setups and make it your own. Long breakouts, short failed breakouts, long at support, shorting a parabolic move, shorting a daily chart breakdown on earnings miss and lowered guidance, there are literally a million different ways to make money in the market and you only really need to master one trade to be on your path to consistently profitable. Generating your own additional reasons for setups that make sense to you as well as the criteria for entries and exits are, in my opinion, paramount to developing conviction in your trades.

Who has influenced your success and how?

I have learned so much from many different people on Twitter but these are the people who have had the biggest impact on my trading.

@Investorslive – Nate not only taught me the basic technical concepts but I learned a lot from his daily stock commentary. This helped me learn the dynamics of supply/demand on certain stocks which gave me one of my first “ah-ha” moments in trading. Aside from the technical aspect, he was the one who drilled the importance of process over P&L into my head early on. “Trade well and profits will follow,” is my favorite quote of his that turned my trading around.  (Bella note: If you have not already J Park, it might be time for you to give back here.)

@modern_rock – Early in my trading career, he opened my eyes to not only what was possible in terms of P&L, but also the level of consistency that was achievable. Bao taught me the importance of singles (not looking for home runs on every trade) and consistency. I highly recommend checking out @mrockrulez where he shares his own personal trading rules and the lessons he has learned along the way.

@kroyrunner89 – I learned the basics of Level 2 analysis on OTC stocks from Tim as well as a more methodical approach to finding my own setups through building spreadsheets and collecting statistics. Openly talks about his biggest losses and his plan going forward to overcome these bumps, which I have found to be very useful.

@MikeBellafiore – The author of my two favorite trading books, One Good Trade and The PlayBook. I came across his books when I was already somewhat of a consistently profitable trader but they were instrumental in helping me break out of the $100-200/day channel. They gave me a more structured plan on how to progress with increasing risk through a few basic concepts and also provided me with a better way to review my trades. Aside from the trading aspect of the book, the “You can be better tomorrow, than you are today,” mentality was my biggest takeaway from the books.

What are your goals for 2017?

1) Trade bigger Size has always been something I’ve struggled with, but I’m trying to push outside my comfort zone as often as I can, while still staying in control emotionally. Sometimes this may mean taking on just $50 of extra risk on a trade, but I’ve learned that this can add up quick over time if done consistently. I would love to get to a stage where I’m comfortable risking $1000 on a trade in the next few months and perhaps $2000-3000, by the end of the year.

2) Expand my PlayBook Around 80% of my trades are on micro/small cap momentum stocks, typically under $20. I’m trying to get more familiar with anything that’s not my core niche.

3) Connect with more traders Sharing my progress on Twitter has allowed me to connect with many different traders of all levels. I believe this has helped me progress tremendously and would like to continue learning from traders of all different skill levels.

……..

Study the traders succeeding.  They will help your trading game!

As always, please feel free to reach out and Ask Anything about your trading- [email protected].

Bella

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Hi Mike,

I met you last 2 weeks at Singapore Invest Fair.  I am deeply impressed with your presentation and your New York traders trading ways.

Personally, I am a prop house day scalp traders for Malaysia stock market for 8 years.my performance for the scalp trading is quite consistent and keep on growing.

I have a matter need your advice. While my scalp trade is consistent when i go into  for my swing trade on stock market on midterm (few weeks) or longer term (few months) basics for my own capacity. I keep on have the scalp trade mentality even though I have a trading plan for it. When i am having position for mid term and long term, the scalper mindsets do affects me in stock market. ETF investment as well especially in profit taking. Cut loss and mental as well.

This leads to my performance on my swing trade is not satisfactory.

Mike any ideas, studies or improvement that I can make? I am really looking into the swing trade for mid term because I want to grow my passive income..Looking forward to see you again in Asia. Many thanks Mike

@MikeBellafiore

It is common for intraday traders to struggle with swing trades.  Intraday traders become so sensitive to the ticks in the market that is is hard to manage a longer term swing position.  They want to sell when they see intraday weakness.  They see the weakness intraday and cannot but help applying that to their swing positions.

Most of our better traders at our firm trade intraday and swing ideas.  How do they manage to trade both of these distinct ideas optimally?

1) They trade them in different trading accounts.  They have an intraday account for intraday trading.  They have a swing account for their longer term ideas.  This helps the trader trade their longer term ideas absent the influence of short term observations.

2) They review their swing trading AND their intraday trading on a daily basis. Reviewing your swing trading on a daily basis reminds the trader of his rules for his swing trades.  It helps him no to cut swing positions based on intraday indicators that are not driving his swing idea.

Here is an example of one of our traders reviewing his swing positions during his daily review:

3) Develop distinct rules for your swing trades.  Intraday setups should been seen as patterns, with which you can gain edge.  Swing trades should also be seen as patterns with variables that you can define, and with a predetermined exit strategy, that you trade with edge.