Chop Chop Chop, How to Avoid Your Portfolio from Getting Chopped Up

  [This is VWAP Header]( [ARCHIVES]( TO VWAP?]( LIVE]( [Youtube]( [Twitter]( [Instagram]( [Discord]( [Tiktok]( [News from Kenny Glick] Legendary Wall Street Insider Visits Rural Pennsylvania […a few hours later, he’s in a wheelchair]( Chop Chop Chop, How to Avoid Your Portfolio from Getting Chopped Up Friday, March 24, 2023 Let’s talk Chop. “Chop”, as you’ll often hear me say, is a trading term that’s when a stock doesn’t want to go up or down. You can think of a choppy market in the same way that you think of the movement of choppy water. There still are highs and lows to these swings but it’s consistently staying in a range, with no real trend up or down. An example of a “choppy” chart can be seen below… SQ today chopped sideways around the VWAP line and refused to break out in either direction. The range was tight and the stock could not get any momentum in either direction. Especially if you look at yesterday’s chart, you can see that SQ did absolutely squadoosh today… That’s a beautiful blue to orange line VWAP break. The stock gapped down overnight and 59.50 got you all the way up to 65.50 before it rolled over again. So what do I do when a stop is chopping sideways? I hear you ask. You have three options here: either try and trade the chop, or find a different stock to stalk. As of writing this at 11:40 am, SQ is still chopping sideways in a tight range. So how do we make money on it? It’s the same way we make money on everything else — we define our risk, we look at our price targets, and we get out if the trade doesn’t work. For instance, let’s look at what happened with SQ today in the first hour of trading. The stock just didn’t want to break down past the 59.70 level today as we can see in the chart below… Every attempt from the sellers was met with resistance from the buyers. So once you saw the first two not give up the game, maybe you start to nibble a bit here at 59.70. You put on a ten cent risk, and once you get money in hand of a ten or twenty cent move up, you lock in a small profit and you don’t let that trade roll over and die on you by setting your stops. Sometimes, you even get a pop like what happened at 9:50 where we saw a full dollar move upward. At that point, your day can be over from the small accumulation of winning trades. But you need to be quick in getting in, and quick in getting out. It’s incredibly easy to get chopped up from moves like this to the up and downside. The one thing to note is that you don’t ever want to buy options when a stock is choppy. Volatility makes option premiums skyrocket because nobody really knows where the stock is going to go. If you want to try and trade a choppy stock, and have never done it before, start small or use a paper trading account. Getting “chopped up” is a phrase I use often because traders that are not nimble enough can get walloped by a volatile choppy market. Like I said [in my article yesterday on the 10 commandments of trading]( trade what works for you. If you absolutely adore choppy markets and are fast enough to make money on all the volatility up and down, then do it. And if you see a choppy stock, and can’t seem to navigate it properly, I highly suggest you join us in the [Warlock’s World.]( Solid Jello dedicates two members only sessions a week to teaching members how to properly evaluate a market and identify levels on where price is saying it will go. The sessions are fittingly called [Navigate the Chop]( and teach you everything you need to know about markets like we have today. Solid’s teachings are invaluable and are just a small part of the many things we do here at the Warlock’s World. [So join us today, and take your first step to mastering your craft in day trading.]( Kenny Glick [Getting Started with Basics] [VWAP Dashboard 101]( Knowledge is power! Get a jump on the basics or a refresher to refine your trading chops with our comprensive look at the pillars of the VWAP trading strategy. - [What is VWAP]( - [Multiday VWAP]( - [Earnings]( - [Shorting]( - [Chart Setups](   [Ad]( You are receiving this e-mail at {EMAIL}, as part of your subscription to This Is VWAP. To remove your email from this list: [unsubscribe here](. Please do not reply to this email as this address is not monitored. 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