A software consultant who also day trades stocks gained 805% in 2023. He shares a chart indicator he uses to trade volatile small-cap and penny stocks. [Business Insider]
NextPlay Technologies, Inc. (NXTP)
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Source: Business Insider
He shares how he sets up his stock list and a day-trading pattern he looks for. Goverdhan Gajjala began trading stocks using a swing trade strategy , requiring him to hold positions for longer periods. It was an approach that entailed deep research into market conditions, company fundamentals, and technical analysis. He had taken an online trading course by Mark Minervini , a veteran stock trader who had won the US Investing Championship, and spent a year learning the content. But even with all the preparation that went into a trade, there were still uncontrollable factors that could impact price swings, and those risks increased the longer a stock was held. After a few years of attempting to swing trade , Gajjala searched for an approach where he could feel more in control of his trades. By 2021, he had begun to take up an interest in day trading after observing recognizable patterns of stocks that would see volatile price swings within a day. They were often small-cap or pe
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