Replace Your Income with Options The Snapback Strategy with Matt DeLong, Ep #111
Matt is the CTO of Real Life Trading where he teaches classes, live webinars, group mentoring sessions, and offers personal coaching. His humble and authentic presence truly shines through when delivering in-person seminar presentations on mindset, parenting, entrepreneurship and trading. In this episode of How To Trade It, Matt shares the simplicity of his one-and-done strategy. You won’t want to miss!
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You’ll want to hear this episode if you are interested in…
- [05:13] Focusing on the process
- [17:04] The Snapback Strategy
- [22:30] One and done trading
Focus on the Process, not the Profit
Matt is a tech/software guy, and therefore, rather practical. When he first started trading, he began tracking or recording all of his trades. It didn’t take long for him to discover that if he just followed the plan, he would be more profitable than if he kept trying to make corrections based on what the market was doing. It doesn’t matter if he wins or loses, Matt finds success in knowing that he followed his plan. Matt encourages his students to focus on the process and forget about whether or not they are making money on the trade…the profits will come, if you stick to the plan.
The Snapback Strategy
The Snapback Strategy was originally known as the Tesla Snapback Strategy. The name “Tesla” was removed because the strategy can be applied to any stock. It’s kind of the opposite of an opening range breakout. The idea behind this strategy is that in the first three minutes that the market is open, a high and a low is set. Using that first candle as a guide, you place your order, and if it breaks above, you will move in the opposite direction by getting a short order ready; if it breaks below, you prepare a long order.
Resources & People Mentioned
Connect with Matt DeLong
- Website: http://reallifetrading.com
- Twitter: https://twitter.com/mattdelong90
- Facebook: https://www.facebook.com/matt.delong.336
- LinkedIn: https://www.linkedin.com/in/matt-delong-86576639/
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