One of the twelve successful traders is Dana Allen. He started reading the Wall Street Journal at 9 and opened his own commodity trading account by the time he was 21. Be it commodities, stocks or options, Dana has succeeded in finding deep value in whatever instrument he traded, often increasing his initial investment tenfolds. He managed his risk and walk away with returns that most retail traders can only dream about.One of his word of wisdom is " I think the greatest deterrence is that most of us don't think high consistent returns are possible. You can't achieve something if you don't think it's possible."
Dana Allen loves to trade divergence based on fundamental reasons. Guess what, most retail traders solely based on technical reasons. One of his favourite set ups occurs when a company reports superior earnings but the stocks sells off on profit taking. Once the selling is completed, he will scope up for long term investment backed by strong fundamental.
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