The Rich System
“It’s simple if you have no emotion.” - Rich
Learn a few rules:

Buy low, sell high
Buy in the red, sell in the green
Buy 52 week low, sell 52 week high
Don’t let emotions get in the way: they’re powerful 
Buy back when it's not at a 52 week high 
Invest in growing industries
Invest in companies with great products that people want
invest in companies with strong management
invest into companies that are undervalued, underappreciated, and underexposed.
If you pass all those tests, I will buy the stock; if not, I am not interested because I know that Warren Buffett wouldn't buy it so why should I.
Invest your money in the stocks that are hotter right now; you can always buy it back later.

You need a strategy and you have to stick with it.

never be upset with profit; could it go higher? Maybe. Could I make/lose another $200-$400; maybe. However, you will feel like a jackass if you don't take it and you lose it all. 
Would it suck if I could've me $600-$700? Sure, but it would feel way worse if I walked away with nothing. This is how you sound like a trader. And this way you don't have to eyeball fuck the computer and you can enjoy the rest of your day. That's true freedom; staring at a computer all day, isn't.
Sudden red is just the market-makers taking profits; we need to adjust ourselves to mimic their moves; I realize they get first mover opportunities; all we can try and do is follow them; this so-called correction is only going to provide us with the next opportunity to take profits again. We should not be surprised about this or get discouraged. 
When I am up enough that I can giggle, I cut and wait; I buy in the red, I sell on the green; that's it for me. 
Keep it simple: buy at 52 week lows and sell at 52 week highs. Wait for that 52 week top 10; 52 week low top 10.

I am really looking forward and curious to see how things are going to play out the last 30 days before legalization; I think we might have to take profit before and it's so crazy because I think about it: just take profits when you see them. 

The fact that the aftermarket is up, shows the power; but be careful, it can be a bait and switch: they make you think it's all going to go back up so you buy and then the market goes down hard and everything goes back in the red.
These top stocks will make their moves. 
Patience is your friend. 
People who trade the most, lose the most. 
Learn to be efficient with your trading. 
Less trades, low fees and huge profits. 
-Try to only do 2 trades per pick:
Buy one, sell one
-You lose a killing on the commission fees:
it can add up very quickly
Do the math: $7 per trade, if you do 4 trades a day x 20 trading days, that’s $560 per month $6720 per year
That’s only for day trading 2 picks in and 2 picks out.
Brent - Isn't the old rumor, buy on rumor and sell on news?
Rich - 100%.
CP Dallas - when you're up, you sell. You have to take profits. Profit is what it's all about. I don't hear enough people sharing it: take profits, get money. I almost feel like there's a moment in the green, and you're like, oh shit. That's when you sell. Take profits.
Rich - 100%.

Don't be greedy: honestly if I can walk away with double I'm happy, I'm in with 33K, if I can double that I'm good.
I won't hold for 2 years; as soon as I see 10% or more, I take it. I stick to my trading plan; no need to be greedy.
You ain't doing the Warren Buffett long-term hold build wealth thing; 10% is too little return for me to sell. Right now I want to just go in and out and momentum trade for the next few months.
I will never go back to long holds again. Far too much risk. When you realize that every day there's another MJ stock up 10%, and it bounces around all day on volume, you are foolish to think it is better to hold 1 and hope you called it right. Read rampaging bulls. It is the book that changed my mind.

Before you sell make sure the stock is coming down first.

To see other’s bids, you can use what they call a “trading platform”; if you have TD Ameritrade you can download “Think or Swim” for free. On they have “level 2”, which is a trading platform I have used off and on in the past. They are great if you are trading a lot and not just holding long.

Use & to manage your portfolio. It'll help you keep a very close eye on your positions. They are moving so fast every day.
We take 10% or more. Momentum trades usually 10%– 20%. Long term trades, the skies the limit.
Set limit orders. 
So if you invest 6K and you're up 10% that is $600: take it. 
$600 per day is 144K a year.
Rich- look at the chart; is it at a 52-week low 52-week high? 
If it's at a 52-week high, you are playing with fire; if you are at the 52-week low, then it is a buying opportunity.
Rich- Focus on research, finds what I like and invest; I never listen to outside noise, just always trust my gut and follow a system. 10% stop loss and 10%-20% limit orders. If I am lawn and that is different. Anything over two dollars I momentum trade 10% stock and 10% limit. You have a a have to follow a system you will never win consistently. Learn to win trades and take 10% at a time.
Rich - when you start getting greedy a lot of people FOMO (Fear Of Missing Out) and panic sell; that's how they lose money.
When you get more experience than you can wait for 20% or 30% or 100%. But you have to follow a system; you have to set targets.

Michael Vaughn - stocks can't just go up. They go up-and-down. I'm a little relieved at some pullback. Think of how many people have a specific entry point in mind that they're just waiting for, checking the quotes multiple times a day to see if it's there yet; Setting their limit orders. Consolidation, pullback correction, whatever you want to call it it isn't a bad thing. It's just the nature of the beast. I stock can't pounce unless it comes down. Pull back can send a stock up higher then ever once it identifies the bottom and gives it to to something to bounce off of. People that read charts cannot identify the bottoms and the resistance points unless stocks go up and down. This is not a game for the faint of heart.

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