A REAL LIFE STORY
Kristjan Qullamaggie, a swing trader from Sweden, grabbed attention after transforming a modest $6,450 into a whopping $87 million in just three years. Here's a quick look at his journey and strategies:
Starting Small
- Kristjan began trading in 2011 with just $5,000.
- To make ends meet while learning the ropes, he worked as a security guard.
- He faced multiple losses before finally gaining momentum.
His Winning Formula
- Position Size: He never holds more than 30% of a position overnight, often keeping it around 10-20%.
- Risk Management: He suggests taking a 0.25-1% risk per trade. For accounts under $1M, the risk can go up to 0.5-1.5%.
- Risk vs. Reward: Only 30% of his trades are winners, but those big wins make up for any losses.
Breakout and Flag Breakout Trading
- Kristjan focuses on breakout trading, where prices consolidate before surging.
- He's also a fan of Flag Breakouts, which involve trading after a sharp rise followed by a brief pause.
Position Management
- He recommends selling 1/3 to 1/5 of a position after 3-5 days and moving stops to breakeven.
- He uses a trailing stop based on the 10-day or 20-day moving average to close positions if prices drop.
Final Takeaway
- Kristjan advises traders to focus on the bigger picture and not get distracted by bearish sentiment. Since he started in 2011, the market has mostly been on an upward trend.
His story shows that with the right mindset and strategy, even small investments can lead to massive returns.
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