Kristjan Qullamaggie, a Swedish swing trader, has made headlines for turning a small investment of $6,450 into a massive $87 million in just three years. Here's a quick breakdown of his journey and strategies:
Starting from Humble Beginnings
- Kristjan began trading in 2011 with only $5,000.
- He worked as a security guard to cover basic expenses while learning the ropes.
- It took several attempts before he found success, losing his initial investments before gaining traction.
His Winning Strategy
- Position Size: Kristjan never holds more than 30% of a position overnight, usually keeping it at 10-20%.
- Risk Management: He recommends taking a 0.25-1% risk per trade. For accounts below $1M, this can go up to 0.5-1.5%.
- Risk vs Reward: Only 30% of his trades are profitable, but those winners more than cover any losses.
Breakout and Flag Breakout Trading
- Kristjan focuses on breakout trading, where price consolidates and then shoots higher.
- He also loves Flag Breakouts, trading after long price rises followed by a brief pause.
Managing Positions
- He advises 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 the price falls below.
Final Thoughts
- Kristjan encourages traders to stay focused on the big picture and not get swayed by bearish sentiment. Since he started trading in 2011, the market has largely trended upward.
Kristjan's success proves that with the right mindset and strategy, small investments can lead to life-changing returns.
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