7 Key Strategies to Make Winning Trades With ProfitSight
In this report, I’ll review seven of the key strategies and tips to ensure you get the most out of your ProfitSight experience. From your first week trading with the system until your last winning play, these concepts will ring true. In this report, I’ll cover…
- Why comfort picks can be a great start
- Why volatility is forever, so you should trade like it
- The art of “just showing up”
- How to break the pattern of overthinking
- How to picture your goals
- How to plan to be a trader
- How to commit to your first week’s action plan.
Now let’s get into it!
Tip No. 1: Scan the Stocks That You Already Know
The very first thing you’ll want to do when you open up your new software package is get familiar with the interface.
We’ve designed the platform to be incredibly intuitive, user-friendly and easy to navigate. So as your first order of business, take a few minutes to poke around and get familiar with the navigation.
First, click on the “Dashboard” icon – which is found in the upper left-hand corner.
This will bring you to a page where you will scroll down and see the word “Monitoring.” This is where you’ll enter the list of stocks that you want ProfitSight to scan for you.
At first, creating this list might seem daunting. There are thousands of stocks to choose from – and ProfitSight can scan any stock on the main American exchanges.
But… the key is to avoid information overload. It will make you a better trader. You don’t need hundreds of alerts going off every time a stock you’ve never heard of hits a pattern.
It’s all about quality over quantity.
To get you started, every level of the ProfitSight service comes pre-populated with a few preset scans:
- SPDR Dow Jones Industrial Average ETF Trust (DIA)
- Invesco QQQ ETF (QQQ)
- SPDR Gold Shares (GLD)
- SPDR S&P 500 ETF Trust (SPY).
DIA, QQQ and SPY track the major market indexes, and GLD tracks gold – everyone should be tracking these by default.
I will also give you a new “Flex Trend Pick” each month. This will be hand-selected by me based on trends I am seeing in the market.
From there, it’s up to you to input which stocks you’d like the software to scan for. So to start out, our advice is simple…
Scan the stocks that you already know.
For instance, let’s say you’re familiar with Walmart (WMT). The stock is liquid, you understand its business and it trades options. That would be a good name to track.
Same with major shipping companies FedEx (FDX) and United Parcel Service (UPS). And with Caterpillar (CAT) and Deere & Co. (DE), major agricultural and heavy equipment names.
Maybe you know the oil sector – so Chevron (CVX) and Exxon Mobil (XOM) would be names you’d like to scan.
Perhaps you’re an athlete who knows retail. In that case, scan for Nike (NKE), Lululemon (LULU) and Dick’s Sporting Goods (DKS).
Maybe technology is your thing. If that’s the case, you’d want to scan Apple (AAPL), Amazon (AMZN) and Microsoft (MSFT).
The point is that when you’re just starting out, scan for names that you’re familiar with. Make yourself a list – and input the ticker symbols…
Turn on both the “W” and the “M” buttons to scan for both formations. And if you’d like to replace a symbol with another, simply hit the garbage can icon to delete that symbol. Then you can replace it with a new one.
Once you’ve done this, you’re on your way!
Unlike other software packages, the beauty of ProfitSight is that we’ve already built in the triggers for you. The software knows exactly how to scan for “W” and “M” patterns. It just needs you to tell it which stocks to scan.
Tip No. 2: Accept the Fact That the Stock Market Will Remain Volatile Forever
Why is it so urgent for you to begin using ProfitSight right now?
Because market volatility is here to stay.
As time goes on, it’ll only get bigger – and more violent. In fact, we believe that market volatility is now ramping up at an exponential rate.
A few short years ago, a 100-point down day on the Dow was a big deal.
Now that’s peanuts – a typical Tuesday afternoon on Wall Street.
Today, you’re routinely seeing down moves on the Dow of 1,000 points – sometimes even more. Same goes for upside moves. Every time a Fed chairperson opens their mouth, it seems like we’re headed for a market move of 3% to 4% in either direction – all depending on one insignificant word or phrase that gets ad-libbed at the podium.
The point is… clearly… market volatility is here to stay.
It’s not going away anytime soon. That’s why it’s so critical that you harness the power of ProfitSight – starting now.
With ProfitSight, you can no longer get whipsawed by the random ups and downs in the market. Starting now, you can begin to see volatility for what it really is…
A massive profit-making opportunity.
What you hold in your hands is the ultimate power for achieving profits in volatile markets. No matter whether markets are gapping up or avalanching down, you’re about to learn how to train your mind to harness this power. By utilizing the power of “W” and “M” formations, you can make money in any market condition – which gives you an unfair advantage over mostly every other investor and trader on earth.
Tip No. 3: Master the Art of “Just Showing Up”
As you begin this exciting new journey, it’s imperative that you define your ProfitSight psyche.
In other words, if you want to make a ton of money using this software, that’s great! It’s achievable too. But in order to make this a reality, you must agree to change your daily habits.
To best illustrate this point, I’d like to use an example from James Clear, the author of the No. 1 New York Times bestseller Atomic Habits.
There’s a story of a guy who is overweight. He wants to lose 100 pounds.
How should he start this journey?
If he’s not in a regular gym rotation – where he has a set time every day to hit the local gym – it’ll be very difficult for him to lose 100 pounds.
For most, this feels like a daunting challenge – especially since losing 100 pounds won’t happen overnight. So in our example, to achieve the goal of losing 100 pounds, he must change his habits. But how?
Well, in this particular example, the overweight person was told to go to the gym once a day – for just two minutes.
This seems like nothing. In fact, it may appear laughable. This overweight person could simply walk into the gym, do one rep of a 15-pound weight, and then turn around and walk out.
Sure, that’s true. However, what’s changing here is the habit of going to the gym.
The art of “showing up” is the main obstacle here. Just getting into the habit of going to the gym – even if it means for as little as two minutes – is the key factor. And then, once that new habit is formed, the seemingly impossible task of losing 100 pounds now turns into an atomic habit.
The trick, according to author James Clear, is to start by thinking about the elements of each task rather than the whole task as one mammoth beast. For example, in order to lose 100 pounds, you have to start by getting yourself to go to the gym. Once that new habit has been established, the hard part is over. From there, the process of achieving your goal can begin.
*Note: In this example, the person did lose 100 pounds – and it all started by getting into the habit of showing up to the gym for at least two minutes per day.
Okay, so now let’s apply that principle to your new ProfitSight software…
Just as the person who needed to lose 100 pounds didn’t do so in a day, you’re not going to buy the software package on Monday and then become a millionaire on Tuesday. To achieve your financial goal, you must start by changing your habits. But how?
Here’s what we recommend…
Log in to the ProfitSight software one time every single day that the market is open – between 10:30 a.m. and 2:30 p.m. – and identify ONE “W” or “M” pattern.
That’s it.
Log in, and identify one pattern per day.
That’s all you need to do to get started.
Don’t trade it.
Don’t act on it.
Just identify it.
Do this for two to three weeks.
And by then, you’ll have accomplished two things…
First, you will have changed your habits. You will have developed a habit of logging in and finding one pattern. In other words, you’ll have gotten accustomed to “showing up.”
Second, just like the overweight person showing up at the gym for two minutes, you’ll then start seeing how the patterns work. You’ll begin to grow comfortable with what winning “W” and “M” patterns look like. And before you know it, you’ll be trading these patterns. And from there, you’ll be well on your way to generating daily wealth.
In anything, consistency is key to success. If you consistently “show up” – by logging in to the software – we’re confident that you will find success.
Tip No. 4: Break the Pattern of “Thinking Too Much”
In recent years, the amount of information you get as a trader or investor has seemed to increase exponentially.
Information overload, as it’s called, is real – and having too much information can oftentimes be paralyzing.
With ProfitSight, we want to eliminate everything that’s not important, relevant or critical to your profit-making ability.
With this software, you get alerted only when you absolutely need to know that a trigger has officially gone off. By doing this, you can break the pattern of being forced to think too much.
Depending on your software settings, all you need to do is check the ProfitSight website when an alert is hit, determine whether you like what you are seeing and make a trade (more on that below).
That’s it.
If the pattern is a well-formed “W,” then it’ll likely result in a call trade winner.
If the pattern is a well-formed “M,” then it’ll likely result in a put trade winner.
Below is an example of an “M” pattern on Target (TGT).
This is a pattern that worked.
The pattern was triggered at $167.50.
The conservative downside target was at $166.00.
And as you can see, Target ended up moving down to $164.00.
This was a profitable move.
Look at the chart below. Do you see how the “M” – outlined in white – was clearly defined? This sure looks like an “M.”
This pattern passed the eye test, and as a result, the profit target was achieved.
Had you played put options on Target when this “M” trigger went off…
YOU WOULD’VE SEEN A BIG WINNER!
When it comes to “not thinking too much,” we designed the software to think for you. ProfitSight triggers only when our machine-learning system identifies a “W” or “M” formation.
It’s really as simple as that.
Tip No. 5: Picture Your Goals
At this point, take a second to think about yourself…
Start with your lifestyle. Envision what you want.
A second home? A nicer car? Debts paid off? A vacation where you don’t worry about what anything costs?
As you envision your new lifestyle, make sure it’s truly what you want.
For example, laying on the beach for a day or two is nice, but is that really what you want to do for the rest of your life? Would you really be happy all year long just lounging around on the beach? Probably not.
Maybe you wake up, have a cup of coffee, make a winning trade when the markets open and then have the rest of the day to do whatever you want…
That sounds pretty darn good, right?
Maybe you can play some tennis or golf or pickleball (if that’s your thing).
Maybe you can fly-fish in Montana during the summer and ski in Aspen during the winter – all funded by winning trades you made from the palm of your hand. How’s that sound?
Okay, now take a second and go the other way…
What will you no longer accept for your future?
Worrying about money? Hoping that the markets will go up, dreading what the Fed does and constantly thinking about whether we’ll see another market crash?
Not worrying about any of that nonsense sounds great, doesn’t it?
Okay, from here…
You know what you want.
And you know what you don’t want.
So here’s the key takeaway…
You now have the power to look at charts and see profit opportunities you’ve never seen before. With this new power, you can achieve the life that you just envisioned five seconds ago.
And by doing so, you can also eliminate your worries.
Most people live their whole lives and never attain this power.
What do you want to create with it?
How do you want your life to change?
By answering these questions, you will start being pulled toward a new, exciting future. And you’ll be able to appreciate each step of progress as you go.
How will the way you spend your time change? Will you wake up later? Read more? Travel? Where will you travel?
How will your emotions change?
Will you feel less stress? Stress affects health.
Will you feel more freedom?
Will you feel more relaxed and present in your life… around your family and friends?
By defining what you want… and what you don’t want… you’ll keep your eye on the prize.
As you begin using your new ProfitSight software, defining exactly what you want will help you to turn that vision into reality.
Tip No. 6: Input Your Settings… Then Plan to Be a Trader
Okay, now let’s jump back to the software interface…
In Tip No. 1 above, we discussed how to properly set up your dashboard.
Here in Tip No. 6, we’re going to discuss how to properly set up your settings.
To begin, click “Settings” in the upper left-hand corner of the screen.
When you do that, you’ll come to a page that looks like this…
You’ll see settings such as “Alert Timing,” “Entry Level” and “Target Level.”
These all represent various levels of where you want the triggers to fire.
If you’re a conservative trader, set all the toggles toward the 1-2 level settings. These will deliver FEWER triggers, but the ones that do trigger will be more confirmed patterns.
If you’re a more speculative trader, then set all your toggles toward the 4-5 level settings. These will deliver MORE triggers, but the ones that do trigger will be less confirmed patterns – which will require more discretion on your part as to whether the patterns are tradable or not (this decision process is explained in Tip No. 4 above).
All users are different. All users have different goals. All users have different risk profiles. Therefore, only you can decide where you want to set your toggles.
However, since you’re just starting out, here’s what we recommend…
Turn every toggle on (sound on, entry/exit on, etc.). Put everything in blue.
And then place every numerical toggle the middle position.
From there, start to monitor the triggers, identify the patterns and paper-trade the triggers that pass the “eye test” explained above.
If you feel like you need more triggers, then you can increase your toggle to the 4-5 levels.
If you feel like you want fewer triggers, then you can decrease your toggle to the 1-2 levels.
No matter what, starting in the middle position and establishing a benchmark will offer you the best way to get started. Then, as you follow along, you can see whether you want more signals or less signals – which will easily allow you to adjust accordingly from there.
Above all, once you input your settings, be ready mentally to become a trader. Because once your stocks are listed and your settings are placed, it’s go time.
As the triggers start to fire, you need to be ready to capitalize on the ones that look the very best because those are the ones that can generate daily wealth. You have an arsenal of market intelligence at your fingertips. You have a 200-mph engine under the hood. It’s time to put the pedal to the floor – and take full advantage.
*Note: ProfitSight will NOT offer you any exact or specific trades to make. It will offer you only triggers based on the “W” and “M” settings that you placed into the dashboard. Once a trigger goes off, it’s up to you to determine how you want to trade that signal. For “W” formations, that could be buying call options, buying call spreads, selling puts or simply buying stock. For “M” formations, that could be buying put options, buying put spreads, selling calls or simply shorting stock. Exactly which trade you place is determined by you, the user, based on your individual risk tolerance and trading level. The software makes it easy for you. All you need to do is stay focused, stay ready to trade, and show up every day armed and ready to roll.
Tip No. 7: Commit to Your First Week’s Action Plan
With the first six tips outlined, you’re probably chomping at the bit to get going.
So we’ll close with something simple…
Right here, right now… commit to your first week’s action plan.
Can you plan to log in to ProfitSight – starting today – and identify your first trigger?
Can you do this at 10:30 a.m.?
If nothing has gone off that particular morning, can you look again around lunchtime?
If a pattern triggers and it looks good, are you ready to paper-trade it?
Is your account set up and ready to track the action?
After all, if a pattern looks good, you’ll want to track it.
Did it work?
Was it profitable?
If you put $1,000 into that trade, how much would you have made?
All of these are things you need to have set up and ready so you can hit the ground running. So right now, take a hot second and lay out your first week’s plan – with a super-simple step for each day. That way, you have a clear agenda to follow – and you can be successfully off and running using your new ProfitSight software.
ProfitSight Tip Summary
Tip No. 1: Scan the Stocks That You Already Know
Tip No. 2: Accept the Fact That the Stock Market Will Remain Volatile Forever
Tip No. 3: Master the Art of “Just Showing Up”
Tip No. 4: Break the Pattern of “Thinking Too Much”
Tip No. 5: Picture Your Goals
Tip No. 6: Input Your Settings… Then Plan to Be a Trader
Tip No. 7: Commit to Your First Week’s Action Plan
Above all, welcome to ProfitSight!
Starting today, YOU are now the guru!
If you have any questions, please don’t hesitate to reach out to our moderators in the moderator tab.