If you had a business card or résumé for trading, there’s only 1 thing that should be at the top.
It’s not “rainmaker” or “high roller.” And it’s definitely not “HODLer.” The truth is, it’s kinda boring. But in my experience, if you want to be flush from trading, this is your #1 job…
Discover How To Grow Your Account Without the Grind
Table of Contents
The Big Picture
Now, I get it. When I caught the trading bug, the idea of making in one day what some people make in a month was always in the back of my mind.
What I found out was that it could only happen when I stopped chasing, figured out the process, and then executed the plan with as little emotion as possible.
In other words…
Your #1 Job Is Risk Manager
I bring this up because someone asked about holding a premarket chat pump into the open.
Now, if you’ve been around a while you know my take on chat pumps….
99% of chat pumps halt down at the open.
That’s if they even hold into the open, okay? Most of the time the chat pumpers already pulled the rug on their followers and tanked the stock. They’re off having coffee and croissants while their followers hold the bag.
But when they manage to ride the pump into the open? Carnage.
So, here’s the question I ask while I track the setup before any potential trade…
Do You Want To Trade These Odds?
Look, every now and then a chat pump does not halt down and get destroyed at the open. But it’s 1 out of 100.
Would you seriously ever hold a chat pump into the open if they get destroyed 99 out of 100 times?
Now, some people will say “Oh, maybe this will be the one.”
Sure. Maybe it will. But are those the type of odds that a risk manager would take? Of course not.
My Take
Now, if you somehow get lucky and hold a chat pump into the open and it keeps going, you’ve learned the wrong lesson.
People always remember the one that went against all odds. That’s dangerous territory, my friend. Your #1 job is risk manager and you have to act accordingly. That means following a systematic decision making process.
Watchlist
Yesterday (Sept. 23) Beneficient (NASDAQ: BENF) announced “a strategy to eliminate HCLP debt and Heppner equity interests.”
In simple terms, the company is trying to clean up its act after its former CEO was convicted of fraud.
The stock spiked and put in an RCT of $2.43 x $2.21. Now, by the time it hit the entry, it was too close to the open. Usually we trade premarket RCTs from 7 a.m. to 9 a.m ET.
The spike going into the open also caused the Oracle signal at $3.04 to be higher than ideal:
BENF, 9/22/26, 5-min candles, RCT, Oracle signal, halts, trading within a range
After the open yesterday, BENF halted several times throughout the morning and early afternoon.
What I like is that once it settled down, it started trading within a range. If it holds within that range today, watch for a day-3 surge tomorrow. Also watch for breaks above yesterday’s Oracle level at $3.04.
BENF, 6-month, daily candles, Oracle and next major resistance level
As you can see on the 6-month chart above, if BENF breaks over the Oracle signal, the target would be the next major resistance level at $4.23.
On My Radar
- America is still ahead on frontier AI models
- This clown is a glutton for punishment
- Must read book for traders: “Boyd: The Fighter Pilot Who Changed the Art of War”
- 8 Days Until The Millionaire Formula Conference – Save Your Free Spot