Business Insider headline: A 24-year-old stock trader made over $8 million in 2 years. Here’s how he identifies a winning trade regardless of stock-market conditions.
Laila Maidan Aug 6, 2022, 10:30 AM
Jack Kellogg started trading stocks when he was 19 years old.
He looks for patterns and watches the top movers for days before deciding to take a position.
He broke down some of his biggest losses and explained the risks attached with day trading.
Setting up a winning trade
He looks for patterns.
Kellogg mainly trades small- and large-cap stocks. However, finding a stock that fits a recognizable pattern is more important than the type of company or sector he’s trading.
“When it goes up too much, I want to short. And when it goes down too much, I want to go long,” Kellogg said.
He first identifies key tickers by looking for the top percent gainers of the day. He uses a paid tool called Stocks To Trade to determine which stocks have had the largest upward moves on a given trading day. For free tools, he recommends Finviz which also lists the top daily movers. He then filters the stocks that have a high trading volume, which is a key factor.