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Three years ago I published the Qullamaggie deep dive research bundle

@TheShortBear called it the best thing since Tim Grittanis work was shared

With the help of AI I've now made it into an interactive app

Let me know if you want a discount code 👇
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It doesn't matter what SMA or EMA you use.

Whether you use a 9 EMA vs. 10 SMA, or a 21 EMA vs. 20 SMA - it doesn't matter

QULLAMAGGIE:
"The point is to have one very fast moving average, one like a little bit slower, one that is even slower"

MARTIN LUK:
"which certain EMAs or SMAs that you're using is not important, but the reason behind which one you're using is very important."

app.qullamaggiedeepdive.com/s/bvyf3b3z
Why do I use the 8, 21, and 50 EMAs?

Because one of the hardest things in trading isn’t finding a strong stock…

It’s actually STAYING in it.

The 8, 21, and 50 EMAs help me:

-Identify momentum
-Understand the health of a trend
-Stay in the strongest stocks for as long as ntact

Here’s how I think about them...

The 8 EMA = short-term momentum

When a stock is extremely strong, you’ll notice something very often:

It barely wants to leave the 8 EMA

Price pulls into it, buyers step back in, and the trend continues higher

Some of the strongest stocks in the market can ride the 8 EMA for weeks at a time

Instead of constantly trying to guess the top, the moving average gives me something objective to follow

Then you have the 21 EMA

I look at this as a deeper area of support within a healthy trend

A stock might temporarily lose the 8 EMA as momentum cools off, consolidate, and then find buyers around the 21

That doesn’t automatically mean the trend is broken

Sometimes the stock simply needs more time to digest the previous move

Then you have the 50 EMA

For me, this is where I start paying much closer attention to the bigger trend

If a stock that has been trending beautifully starts breaking the 8, then the 21, and eventually loses the 50 with aggressive price action and volume…

The character of the trend may be changing

I’m not using moving averages because they magically predict where price will go...

I use them because they give me a framework for understanding MOMENTUM

When price is above rising 8, 21, and 50 EMAs and continues respecting them on pullbacks, the trend is telling me it’s healthy

That allows me to do something most traders struggle with:

Stay in the best stocks for the longest period of time

A lot of traders find a great stock…

Then sell it because it “looks too high.”

It goes another 30%

They buy it back

Then sell again on the next red candle

Instead of trying to outsmart the trend, I’d rather let price tell me when the trend is actually changing

The strongest stocks can stay “overextended” much longer than you think

That’s why momentum moving averages are so valuable...

8 EMA = short-term momentum
21 EMA = trend support
50 EMA = bigger-picture trend health

As long as price continues respecting those moving averages, I have a reason to remain patient

Don’t sell a strong stock just because it has gone up a lot

Watch how it behaves around the moving averages

Let the TREND tell you when momentum is changing.
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The anatomy of a swing traders trade outcomes
Martin Luk made 150%+ in a multi-million dollar account in a month.

Almost the entire gain came on just 5 days.

No options. No 0DTEs. No Futures.

I reconstructed his epic Shortober run to see how he actually traded it. x.com/i/article/2118…
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THANK YOU ALL 𝕏 FRIENDS! 🔥🫡🙏

Honored to have so many legends follow me @RichardMoglen @RealSimpleAriel @MikeBellafiore @InvestorsLive @alphatrends @TheShortBear @PradeepBonde @AmeetRai @TedHZhang @basso_tom 🚀(and many more..)

But more importantly, thank you to each and honored and humbling to have so many care for what I do on here.

Onward to the next 20,000!
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This table should probably be it's own 3 hours masterclass video, but sharing it first here..

For anyone studying Martin's pullback strategy key question is "What moving averages shall we use"?

This table answers that.

And it shows what to expect of each.

For longs, 21 EMA is 0 EMA is borderline no-go (but small sample)

For shorts, win-rate improves steadily as EMA increases, but 9 EMA still produces the highest mean R and avg gain

Here's some additional valueable key insights:

Martin's pullback setup was first developed for the short side

MARTIN LUK: Actually I learned the pullbacks mostly from the short side first... For shorts, the best risk-reward play should be shorting at the resistance, right at the bounce or the pullback into the declining EMAs or into the resistance levels. So this is how I really dig deep in the pullback side, and also I just flip the short side around and then it will be the long side, and they are really similar.

Why does he take 2/3 of his pullback longs at the 9 EMA when 80% fail, whereas 21 EMA longs has almost double win-rate and triple expectancy?

MARTIN LUK: Then I bought it at the pullback on the daily 9 EMA... I think this one would be a fair entry. Definitely not the best one because it's like a slight pullback, and generally a pullback to the daily 9 has the lowest win rate amongst—or like a slower EMA will have the highest win rate—from my study. But sometimes stocks, you have to take risk. Sometimes if the stock pulls back to the 21, then you have a better entry, more high-win-rate entry, you have more conviction, or the risk-reward will be much better. But sometimes the stock, if it's strong like Tesla here, it doesn't pull back to the 21. So this time I'm just trying to take a risk and trying to test whether it works or not

If we go back and look at the uptrend, especially a strong uptrend that the semi sector has made or the Qs has made: a lot of the times we get an uptrend, then we pull back into the 21 EMA and re-bounce at the 21, and then we start another uptrend—we start another leg up.

WHY NOT JUST SKIP 9 THE 9 EMA FOR LONGS?

Runaway Stage 2 leaders (MRVL, AAOI, NBIS, etc)
surf the 9 EMA without touching the 21 EMA for weeks. To not miss the strongest momentum stocks in the market, Martin probes the 9 EMA aggressively with ultra-tight ~1.2%–1.5% stops

WHY DOES 50 EMA LONGS FAIL, BUT 50 EMA SHORTS WIN?

Don't have a good answer for that, yet.

MARTIN LUK: I don't have a really good statistic on that, but... I tried this recently with the cybersecurity longs like NET. Before them, I think I rarely tried this type of pullback buys just purely off the 50 EMA. To me, it's a little bit more difficult and I'm still not good at doing that. I would prefer a pullback buy into the EMA convergence—when the EMAs are converging really close to each other—instead of purely buying the pullback into the 50 EMA.

Compare that to how he describes his bread-and-butter 50 EMA Short:

MARTIN LUK: Stocks tend to decline immediately, without further basing, right after being rejected at the declining moving averages, particularly the 21 and 50 EMAs. The tighter the EMAs, the higher the rejection rate.

I think the ideal picture-perfect [short] would be the first breakdown of the 50 EMA and then the first pullback into the 50 EMA—and generally when [you get] the first breakdown and then a pullback into the 50 EMA, the 21 or the 9 would also be really near the 50 EMA too, and they start curling back and crossing down the 50 EMA

---
A ton of other insights related to this particular chart.
Martin Luk made 150%+ in a multi-million dollar account in a month.

Almost the entire gain came on just 5 days.

No options. No 0DTEs. No Futures.

I reconstructed his epic Shortober run to see how he actually traded it. x.com/i/article/2118…
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Martin Luk's +150% month was a masterclass in trading a theme/sector, and not individual stocks.

And in trading with very high leverage (almost 4x at some point)

First half of October he went all-in short the AI-basket: memory, semis and quantum.

Second half of October he went s metals, then topped it off with memory/semis/crypto

Tiny risk per trade, but massive exposure to the theme. This isn't even account his actual exposure, since some of these massive position were in leveraged ETFs.
Martin Luk made 150%+ in a multi-million dollar account in a month.

Almost the entire gain came on just 5 days.

No options. No 0DTEs. No Futures.

I reconstructed his epic Shortober run to see how he actually traded it. x.com/i/article/2118…
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This is what a +150% month looks like per day

Probably the first of its kind and will most likely never be repeated?
Martin Luk made 150%+ in a multi-million dollar account in a month.

Almost the entire gain came on just 5 days.

No options. No 0DTEs. No Futures.

I reconstructed his epic Shortober run to see how he actually traded it. x.com/i/article/2118…
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James Muninn retweeted
This is the black box of @martinlukkt massive 150% Shortober.

He posted the P&L screenshot of the perfect landing - this is the flight recorder showing the how.

Seasoned traders will say it's impossible to piece together such a month without taking massive risk.

New traders will20 perfect entries in a row.

Reality is not like that.

- On QBTS (top row), that "o" is him panic-covering near the high of the day, realizing it was a mistake, and shorting it right back.

- On RDDT, it's two quick stop-outs ("xx") and walking away.

- On SNDK and SpaceX, it's getting stopped twice before the third or fourth entry finally sticks.

- On DRAM (far right), that "+" is a fat finger which doubled his short by accident the afternoon before a gap down.

48 shorts. 1 long. Two big waves. And a lot of small papercuts right before the big paydays.

If you're learning to swing trade, print this out and tape it next to your monitor.
Martin Luk made 150%+ in a multi-million dollar account in a month.

Almost the entire gain came on just 5 days.

No options. No 0DTEs. No Futures.

I reconstructed his epic Shortober run to see how he actually traded it. x.com/i/article/2118…
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Appreciate that Brodz!

Feedback like yours is really motivating and Im just glad others find my work useful!
Martin is unarguably one of the best retail traders in the world as it stands right now.

James is unarguably the best at getting the data of the traders like @martinlukkt and @Quallamaggiie , digesting it and presenting us simple folk with the insights!
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This is the black box of @martinlukkt massive 150% Shortober.

He posted the P&L screenshot of the perfect landing - this is the flight recorder showing the how.

Seasoned traders will say it's impossible to piece together such a month without taking massive risk.

New traders will20 perfect entries in a row.

Reality is not like that.

- On QBTS (top row), that "o" is him panic-covering near the high of the day, realizing it was a mistake, and shorting it right back.

- On RDDT, it's two quick stop-outs ("xx") and walking away.

- On SNDK and SpaceX, it's getting stopped twice before the third or fourth entry finally sticks.

- On DRAM (far right), that "+" is a fat finger which doubled his short by accident the afternoon before a gap down.

48 shorts. 1 long. Two big waves. And a lot of small papercuts right before the big paydays.

If you're learning to swing trade, print this out and tape it next to your monitor.
Martin Luk made 150%+ in a multi-million dollar account in a month.

Almost the entire gain came on just 5 days.

No options. No 0DTEs. No Futures.

I reconstructed his epic Shortober run to see how he actually traded it. x.com/i/article/2118…
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A 150% month was carried by 5 days.

If we want to succeed in trading we have to show up everyday, not just for the big pnl days

MARTIN LUK: "It's just me, it's just you versus you, and you keep improving your own mistakes."

MARTIN LUK: "Study. Study the charts and my trades. 0% of the random"
Martin Luk made 150%+ in a multi-million dollar account in a month.

Almost the entire gain came on just 5 days.

No options. No 0DTEs. No Futures.

I reconstructed his epic Shortober run to see how he actually traded it. x.com/i/article/2118…
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Martin Luk made 150%+ in a multi-million dollar account in a month.

Almost the entire gain came on just 5 days.

No options. No 0DTEs. No Futures.

I reconstructed his epic Shortober run to see how he actually traded it. x.com/i/article/2118…
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James Muninn retweeted
I studied 199 of @martinlukkt long entries YTD

Insane entry discipline. Never chasing.

Half his entries <0.32 ADR

93% under 0.5 ADR
I studied over 900 of Market Wizard @Qullamaggie breakouts and EP trades

I made me stop caring when to enter.. how extended a stock is, is far more important than when you buy
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Future Market Wizard @martinlukkt developing his shorting strategy:
(╯°□°)╯︵ ┻━┻
Shorting📉

This correction has honed my shorting skills, and I'd like to share them.

I was not interested in shorts back then because I wasn’t good at it and nearly all my shorts lost me money.

Coming into December last year, I noticed weaknesses in the market and started studying how to short to get myself prepared.

Another simple reason was to preventing losing too much money during the correction knowing that I’m a chronic overtrader.

This tweet focuses on entries. Charts of my recent entries and past examples are included.
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I studied 199 of @martinlukkt long entries YTD

Insane entry discipline. Never chasing.

Half his entries <0.32 ADR

93% under 0.5 ADR
I studied over 900 of Market Wizard @Qullamaggie breakouts and EP trades

I made me stop caring when to enter.. how extended a stock is, is far more important than when you buy
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You should probably uninstall 𝕏.

Martin Luk deleted his 𝕏 and social media app for months.

QULLAMAGGIE: "Most people on Twitter are broke. There's no reason to listen to them. Follow the price action."

MARTIN LUK: "Most people talking out there are not consistently g for attention or someone who agrees with them."

QULLAMAGGIE: "You do something differently, something that 99% of other people are not willing to do, and you will have different results..."

MARTIN LUK: "Trading is only a game, like a solo player game. It's only you versus you."

QULLAMAGGIE: "It's all about grinding it out like putting it in your head. Repetition, repetition, repetition."
The market is a competitive sport, but the competition isn't with other participants, it is with yourself

Don't listen to the noise, follow price action, be objective, cut losses and stick to a process

No market is noisier than crypto, these people can be insane
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For those who missed this on Friday

‼️MARTIN LUK'S 2026 TRADES NOW AVAILABLE!

See exactly how he made 2100%+ YTD

If you don't already have access, let me know if you want the Black Friday discount
Martin Luk's 2026 trades are now available in the Deep Dive study app (+2100% YTD)

app.qullamaggiedeepdive.com

Never been a better time to study!
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Understanding and truly internalizing what trading a tail-end strategy actually involves is one of the most important things we can do for our trading..

We have to be comfortable losing..

As @BrianLeeTrades puts it:
"The simplicity is right in front of you, the conviction and is right there to be seized."
Let me put this bluntly.

If you don't collect, store and know your trading statistics + execution data then you absolutely cannot complain if you are not where you want to be.

It's not an afterthought, it's not a luxury, it's a MUST.

Charts alone rarely say anything, it's literally just finance porn.

What says everything is when you can tell me these things:

-How much risk did you put on? (Per trade, I know some of you demons have 20 different flat positions and can't be bothered to even make sense of it)

-Where did you place your stop and would you lose the aforementioned risk you intended?

-When you won how much did you win relative to your risk? I don't care about your PNL, I care about how well-constructed the trade was.

These are the factors that highlight your skill, not how pretty it looks.

Winning is so overrated, winning comes at the cost of maximizing trades.

Losing is winning, let's go beyond the obvious risk management aspect and go a step further... Being able and willing to lose allows you to renegotiate entries and risk and, in many cases, improve your reward exponentially without even increasing the $ risk you apply to the trade whatsoever -> Closer to risk level = bigger position size = bigger risk/reward ratio = higher quality aka grade setup WITHOUT changing any other variables.

If you want to impress me don't turn $10,000 risk into a $10,000 PNL trade...

Turn a $3,333 risk into a $10,000 PNL trade.

That's literally just the tip of the iceberg.

Top level traders can hit ratios much higher than 3:1 when they come by the right setups.

Using an actual RR trade that I put up this week (12.5R)... in terms of ratio that means I could make $10,000 PNL with a $800 risk.

In my mind, and I could be wrong, there is nothing more impressive or important than actually sharing the RR execution data when posting charts.

Without that information, you have NO idea. I have seen thousands of charts from traders that I help and can't tell you how many times a 'nice chart' actually ends up being a .5R, .7R, 1R or very tiny win that was NOT maximized or EVEN A LOSS!

This is why the first thing I EVER do when I talk with people is ask if they can produce statistics for me to analyze and then sync it with their charts to make a determination of how we can take steps to optimize OR if we simply have to start over.

This is the equalizing factor that determines skill regardless of PNL outcome. If someone comes in with a $2m account and makes $10k (.5% gain) how is that remotely impressive?

If you want to acquire more truth then ask of yourself and of others to produce trading data based on execution performance.

The truth is that 99.9% of people don't want to do that because it exposes many ugly truths and, again, are just clueless as to why they can't make progress in their trading.

Nothing is more important than getting real with cold hard facts and the unequivocal truth that trading profitability is as simple as your average win/loss ratio and win rate.

The simplicity is right in front of you, the conviction and belief in one's process is right there to be seized.

Observe and master the fundamentals, these are the keys: Risk Management, Position Sizing and Statistics + Data.
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James Muninn retweeted
Martin Luk made 150% in October on a multi-million account.

I rebuilt the month day by day, trade by trade.

Part of me wants to keep it for my own trading.

How do you think he did it? Luck? Leverage?
Today ended the note on a high, with both the largest single-day gain and the largest monthly gain. It’s extremely unlikely that I'll be able to replicate this in the future, and I know I was really lucky to have the market cooperate.

Good night.
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Martin Luk enters the chat..
The Lone wolf-trader is dead in 2026. Or atleast at a severe disadvantage imo

@TedHZhang explains how trading without a team is like playing on hard mode
"Even if you're an individual trader, find two, three, five, ten people who trade similarly to you, form a Discord chat... and just have that pod with you."

3 good reasons:
1. When 2 smart ppl who respect each other disagree - great learning opportunity
2. Emotional support during drawdowns (or the reality check you need)
3. Different styles can inform each other and give better structural understanding of the market
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That feeling that ORB entries has become more difficult isn't just a feeling..

They work really well in periods.. this chart is very, very telling
5% of Qullamaggie's breakouts carried 100% of the profits..

@CFlanders7 says that "the top 10 trades made my entire year …"

@stamatoudism says that "You need 10-15 good/outlier trades to have a great year"

@SRxTrades says that "My top 5 trades make up for more than 50% of my is the edge? In hitting our stops, or finding those outliers..?
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