TLAB Co-Founder • Kevin Lichte Intro
Introducing my brother and TLAB co-founder Kevin Lichte:
What's up TLAB!? I'm Kevin.
I'm a dad, a big sports fan, a foodie, and love a good glass of wine or popping a few cold brews. I've traded actively since early 2012. Originally the hype behind the Facebook IPO got me interested in dipping my toes into the market. A few months in I realized I didn't know much of anything and signed up for the 4-day Bulls on Wall Street course with Kunal. It gave me the basics of technical analysis and that's what I needed to start making a little money. At the time I mostly day-traded, but being that my account was small I could only take a few daytrades a week. I was very strict with my rules, and my goal was to get over the 25k threshold as soon as I could so I could really daytrade full-time. 2013 was a completely monster year for the market in general, which made my over 100% gains on the year much easier than it probably should have been. Looking back at it now, the majority of my gains were due to the overall market strength. That brought me to 25k around the end of the year.
That next year I gave back a lot of those gains because I went overboard and really wasn't following any rules. I had thought being over the PDT threshold would make things easier, but it just made me more reckless. I would oversize (because I had 4x margin instead of 2x), overtrade, and take any setup that would pop-up.
After that I took some time off from trading, both because of my performance, and because of things happening in my life. When I came back to trading I signed up for the Bulls on Wall Street Bootcamp. This bootcamp gave me a lot more experience, and taught the process more than just setups. The process is what makes you money, not any particular setup, or holy grail, or guru. This is around the same time that many of the TLAB crew were also going through the bulls bootcamp. Meeting these guys helped me out more than anything in the class itself. Although at the end of the day the individual trading is the one responsible for their gains, having a community of people to support you is very beneficial. Friends that can call you out for bad trading, or to encourage you to follow the whole process, or they might notice some in your mindset from chatting regularly. These types of thing has really helped me to excel.
Like some of the other guys, I work full-time. I trade primarily on my phone, so my trading style is a bit unique. You will notice that I tend to take fewer trades than a lot of the others, and I tend to hold them much longer as well. I also have a fairly large account now, so I can tolerate slower movers and drawdowns that others might not. I focus on big weekly/monthly breakouts or pullbacks, and ideally those with strong earnings. I'll get more in depth with my strategy and process in the coming weeks.
Some things I'm watching these big tech pullbacks as they start to reach support:
ADBE at 50 MA and prior pivot around 170
GOOGL gap fill and 50 MA support
INTC watch for a remount of 45ish area, has been a pivot over for a couple weeks
Also keep eye on the rotational breakouts in the industrial and financials, they'll need a few days to setup.
Kevin
What's up TLAB!? I'm Kevin.
I'm a dad, a big sports fan, a foodie, and love a good glass of wine or popping a few cold brews. I've traded actively since early 2012. Originally the hype behind the Facebook IPO got me interested in dipping my toes into the market. A few months in I realized I didn't know much of anything and signed up for the 4-day Bulls on Wall Street course with Kunal. It gave me the basics of technical analysis and that's what I needed to start making a little money. At the time I mostly day-traded, but being that my account was small I could only take a few daytrades a week. I was very strict with my rules, and my goal was to get over the 25k threshold as soon as I could so I could really daytrade full-time. 2013 was a completely monster year for the market in general, which made my over 100% gains on the year much easier than it probably should have been. Looking back at it now, the majority of my gains were due to the overall market strength. That brought me to 25k around the end of the year.
That next year I gave back a lot of those gains because I went overboard and really wasn't following any rules. I had thought being over the PDT threshold would make things easier, but it just made me more reckless. I would oversize (because I had 4x margin instead of 2x), overtrade, and take any setup that would pop-up.
After that I took some time off from trading, both because of my performance, and because of things happening in my life. When I came back to trading I signed up for the Bulls on Wall Street Bootcamp. This bootcamp gave me a lot more experience, and taught the process more than just setups. The process is what makes you money, not any particular setup, or holy grail, or guru. This is around the same time that many of the TLAB crew were also going through the bulls bootcamp. Meeting these guys helped me out more than anything in the class itself. Although at the end of the day the individual trading is the one responsible for their gains, having a community of people to support you is very beneficial. Friends that can call you out for bad trading, or to encourage you to follow the whole process, or they might notice some in your mindset from chatting regularly. These types of thing has really helped me to excel.
Like some of the other guys, I work full-time. I trade primarily on my phone, so my trading style is a bit unique. You will notice that I tend to take fewer trades than a lot of the others, and I tend to hold them much longer as well. I also have a fairly large account now, so I can tolerate slower movers and drawdowns that others might not. I focus on big weekly/monthly breakouts or pullbacks, and ideally those with strong earnings. I'll get more in depth with my strategy and process in the coming weeks.
Some things I'm watching these big tech pullbacks as they start to reach support:
ADBE at 50 MA and prior pivot around 170
GOOGL gap fill and 50 MA support
INTC watch for a remount of 45ish area, has been a pivot over for a couple weeks
Also keep eye on the rotational breakouts in the industrial and financials, they'll need a few days to setup.
Kevin
Comments
Post a Comment