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Been having a lot of people asking me lately about if now is a good time to get into $amc ...so I thought I would write a quick thread to explain my thoughts... please read below 
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I cannot advise someone when to buy and when not to. I tweeted when I bought AMC as part of my online trading journal so to speak, but I can’t give people personal signals. Part of being a good trader is learning to assess the chart for yourself and follow YOUR gut.
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I generally wait for a key level bounce on a red day to buy if possible, but if a stock is on a run, you have to assess if you will get a big red day or not.
Call premiums can get clobbered on a big red day, so just be prepared mentally for that if you buy on a Green Day.
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Call premiums can get clobbered on a big red day, so just be prepared mentally for that if you buy on a Green Day.
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Honestly there is no right or wrong approach to tell you. I can’t predict the market, it can do something I don’t expect tomorrow. So I would advise you not to think about if you are right or wrong... don’t try to predict the future... just play it as a probability game.
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If you think there is a bigger probability it will go up then go down, then trade that bias. But, have a designated risk tolerance beforehand where you will cut the trade. That way you could lose small several times and win big 1 time and be good
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...Because you limited your losses and rode your winner to the touchdown line.
If you check my AMC pinned post... I had two planned entries, an initial one, a level to add, and an invalidation where I would cut it and move on.
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If you check my AMC pinned post... I had two planned entries, an initial one, a level to add, and an invalidation where I would cut it and move on.
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...My invalidation level never arrived so now I’m riding the trade. It’s not about me being right all the time, or being some kind of market genius. I just bet on the right probability and it happened to hit.
Hope this helps
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Hope this helps
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