A stock trader who's returned 2,700% in the last 3 years shares the 3 indicators he uses as his guides to buy and sell
He notes the price points on limit orders from theIt was a decision he made after fleeing Venezuela and having no clear means of generating income. , it was nowhere near enough to make him a successful trader. He had spent the last few years before relocating pursuing an MBA. He had also taken trading and investing courses from a training institution and an online program.
He then opened a new Cobra account in January 2021 under an LLC and transferred $40,000. Records show he withdrew $437,195.72 throughout 2021 and 2022. At one point in October 2022, he added $45,000 to the account. His results were dubbed as unusual and outstanding by Norman Zadeh, a former math professor who runs the annual United States Investing Championship. But Zadeh cautioned against this type of approach, noting that more traders end up losing everything by attempting to do what Briceno did.
If a stock's price is trending in close proximity and above VWAP, he uses it as a good entry point for a long position. However, if the price is above VWAP by more than about 10%, it's an indication that it could be overextended and he tends to sell. His goal is to remain close to the average to avoid chasing a stock.
"The most important thing is that I have the conviction of the trade, not because of the VWAP, it's because the other criteria feed into what I know that makes it a good long," Briceno said.
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