Market Symmetry: How to Tell the Story of a Stock

If you’ve been following along, then you will know the first strategy I’m studying is from the RealDayTrading Reddit group. Review it here.

In their wiki, there is a crucial section titled “How to Tell the Story of a Stock,” which emphasizes an essential skill every trader needs before entering any trade.

Here’s an excerpt from that section:

When you look at a chart, you need to be able to see the story it is telling you and then judge the price action accordingly. Once you know the story, the issue of what is noise and what is real, the question of when to get out and when to stay in, all become much clearer – as it either fits with the story or it doesn’t.

If you don’t know the story, then you are looking at numbers without context, and that is always a dangerous way to reach the wrong conclusions.

My Journey With Technical Analysis

Over the past six months, I’ve been watching various technical analysts share their insights on stocks and the broader market. Among them, Matt, also known as The Great Mattsby, stands out for his excellent analysis, in my opinion. There are countless commentators online, but I truly feel that Matt knows his stuff. I’ve been following his YouTube videos and commentary on X, and he’s been spot on many times.

From my perspective as a beginner, Matt excels at telling the story of a stock and the market in general. When I read the post from the wiki about how to tell the story of a stock, Matt immediately came to mind.

During my study of technical analysis (TA), I found myself frequently watching Matt’s analysis. This led me to purchase his course to learn more about technical analysis and his strategy.

No Affiliation, Just Honest Impressions

To be clear, I don’t know Matt personally and have no affiliation with him. However, I’ll link his social media accounts below if you want to learn more.

When I asked Matt what his edge was, he explained (and I’m paraphrasing here):

Recognizing market symmetry on every chart is my edge. When you can do this, you can let the charts do what they are supposed to do and trade without emotion. The more you do this, the more you will see that every chart follows this pattern.

Matt is primarily a position trader, meaning he doesn’t day trade. Simply put, he buys at support and sells at resistance. His proficiency in technical analysis allows him to recognize market symmetry on any chart. He gets excited when stocks hit their support levels and is cautious as they approach resistance.

Personally, I find this approach very appealing. It’s not traditional day trading, so there’s less stress about short-term movements, which some people might prefer. Of course, like any strategy, it has its pros and cons.

Why I’m Interested in Matt’s Strategy

I’m currently exploring this strategy and learning more about Matt’s approach to technical analysis because I believe that recognizing market symmetry on every chart can enhance any day trading strategy. Although studying two strategies simultaneously might not always be advisable, I feel that this method of reading charts and spotting market symmetry is a valuable strategy in itself and could complement any other strategy.

This is why I decided to invest in Matt’s course and why I’m learning this alongside the material in the wiki.

What Matt’s Course Offers

Matt’s course is hosted on Telegram, where he shares his actual trades, which adds a layer of transparency. The course includes a chat feature where you can ask Matt questions, as well as tutorials on all the indicators he uses, and lessons on entry and exit strategies.

I’ve been through the course once and I’m very satisfied with the material and believe it offers great value, although I don’t have anything else in the space to compare it to.

Should You Consider Matt’s Strategy?

Again, it’s not a day trading strategy, but if you want to improve your technical analysis skills, I think it’s worth considering. My recommendation is to start by following Matt on his X account and YouTube channel. Watch his videos and weekly analysis to get a sense of whether his strategy resonates with you.

Personally, I can easily see myself trading the way he does, even though it’s not traditional day trading.

Looking Ahead

I have no affiliation with Matt, but perhaps in the future, I could invite him as a guest on my podcast, which would be pretty cool.

Matt also has a Patreon, which I’m not a member of. His course is designed for those who genuinely want to learn his approach to technical analysis and trading. His Patreon, on the other hand, is more for people who just want to know which stocks to buy.

Many people prefer to be told what to buy instead of learning the fundamentals. While this might be tempting, I strongly advise against making trades based solely on someone else’s analysis. It’s a risky move for your trading career. Instead, analyze and learn from various “stock picks,” but don’t trade blindly based on them.