How To Put Yourself Ahead Of 90% Of Traders Out There

That old trading saying of “the trend is your friend” holds a lot of the secrets to successful trading, if not all of them. Our job as traders is to find the trend and trade alongside it, not to step in front of the train and try to go against the grain. For our stock trading idea today, that is exactly the type of trade we found, a trending stock.

However, Moderna (MRNA) is trending down, which may seem counterintuitive when the market is so bullish right now. Important to remember though, healthcare often gets left behind when the rest of the market is ripping like it has been over the past few weeks.

Despite this down trend, we caught MRNA at a very opportune time as it is nearing its 52-week low. If you look back on the chart, there have been a few times over the past year or more where the stock has gotten down to this 52-week low only to bounce off of it and trend higher.

In our strategy, we take puts at resistance and calls at support, given price action gives you the green light for doing so. So, as MRNA looks to hit this 115 mark, look for what the price action does at this key level before making your trade.

Hone your skills at doing this and you know have the beginning of your system and edge when trading. No more aimlessly taking trades because you think this will happen or someone on TV said that will happen. Set up your system, find your edge, be discipline, have proper risk management, and you are already better off than 90% of traders in the market.

Learn to find these levels for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.