Kristjan Kullamägi (Qullamaggie) is a swing trader who has made over a hundred million dollars. Read his best quotes to become a better trader.
Kristjan Kullamägi (Qullamaggie) began trading in the U.S. equity market in 2011.
His start was in day trading, where he blew his account several times.
After learning and market research, he made the switch to swing trading.
He made his first million through day trading. The switch to swing trading led to exponential returns.
Qullamaggie has made over a hundred million dollars in profit. All without external funding and as an independent trader.
He shares his wisdom often and wants to help traders grow. The following are the best quotes from Qullamaggie.
Qullamaggie quotes about trading
1. “If you could only trade one setup, it should be the high-tight flag. You’re going to make so much money you don’t even know what to do.” -Kristjan Kullamägi
2. “This is how stocks move. They look like stairs. You have a step higher, sideways, step higher, sideways. Your job is to buy at the exact moment that the next step higher is forming.” -Kristjan Kullamägi
3. “When the 10-day (moving average) and 20-day are rising, and the 10-day is above the 20-day, that’s when you get really good swing trading markets.” -Kristjan Kullamägi
4. “You need to study thousands of stocks going back decades. Stocks move the same way today as they did a hundred years ago.” -Kristjan Kullamägi
5. “If the stock’s below yesterday’s highs, it’s not a breakout.” -Kristjan Kullamägi
6. “You want to buy a stock as soon as it starts breaking the range.” -Kristjan Kullamägi
7. “Most “traders” trade on their/others opinion and feelings. Very few bother to actually find a setup that is part of the market structure that occurs over and over again. And even if they have a setup they lack the understanding under which market conditions that setup works.” -Kristjan Kullamägi
8. “Never ever short day one. You’re going to save yourself so much money and headaches.” -Kristjan Kullamägi
9. “You can’t trade blind. You need rules. If you want to make millions, you need rules.” -Kristjan Kullamägi
10. “A couple of weeks or months of consolidation is the sweet spot.” -Kristjan Kullamägi
11. “No one knows anything. The market can do anything at any given time.” -Kristjan Kullamägi
12. “Put your opinions aside and just trade the price action.” -Kristjan Kullamägi
13. “The fewer things you worry about, the better your trading will be.” -Kristjan Kullamägi
14. “A momentum leader is a stock that’s among the one or two percent of the biggest gainers.” -Kristjan Kullamägi
15. “Just because a stock went up doesn’t mean it had a good setup. A lot of stocks go up without showing good setups.” -Kristjan Kullamägi
16. “The stock doesn’t care that you got frustrated with it.” -Kristjan Kullamägi
17. “If it gaps up over the range, use the opening range highs. You can use the 1-minute, 5-minute, or 60-minute.” -Kristjan Kullamägi
18. “Try to keep your stops around a third or half of the average daily range or average true range.” -Kristjan Kullamägi
19. “If you’re getting confused with intraday charts, just use the daily chart.” -Kristjan Kullamägi
20. “It doesn’t matter if the stock goes up after you buy it. You need to buy a solid setup. You can’t chase.” -Kristjan Kullamägi
21. “If you want to make it in this, you need to have very specific entries and very specific setups.” -Kristjan Kullamägi
22. “All you have to do is follow your setups and rules. There’s always someone doing something else.” -Kristjan Kullamägi
23. “It’s all about supply and demand. Our job is to trade that supply and demand.” -Kristjan Kullamägi
24. “Focus on quality setups. If you trade random setups, your results are going to be random too.” -Kristjan Kullamägi
25. “Every stock is going to stop you out sooner or later. It’s when things pull back where we see which stocks are strong and which are not.” -Kristjan Kullamägi
26. “The market gives you clues all the time. It’s all about listening. It’s all about patience.” -Kristjan Kullamägi
27. “No matter how high you think a stock can go, it can go higher. That’s why I always trail some.” -Kristjan Kullamägi
28. “I have no problem re-buying stocks, but only if it sets up again.” -Kristjan Kullamägi
29. “It doesn’t matter how much you hate the company. If there’s a good setup on it. If there’s a 5-star setup, you have to buy.” -Kristjan Kullamägi
30. “If you don’t know how stocks are supposed to move in certain scenarios, no indicator is going to help you.” -Kristjan Kullamägi
31. “Understand the nuances of the setups. Understand when it works and when it doesn’t work, when you should be aggressive, and when you should be defensive. It takes years to get good at it.” -Kristjan Kullamägi
32. “It’s not about one or two trades. It’s about making hundreds and thousands of trades. It’s about consistency.” -Kristjan Kullamägi
33. “I want to hold stocks for as long as possible. I really don’t want to sell them until I have to.” -Kristjan Kullamägi
34. “The best time to trade the breakout method is after a pullback in the market. You want to see which stock held up the most.” -Kristjan Kullamägi
35. “It’s all about small losses and big winners.” -Kristjan Kullamägi
36. “Always think in percentages. I think that’s a very useful exercise that may take your trading to the next level.” -Kristjan Kullamägi
37. “Don’t start randomly picking tops. Wait for weakness.” -Kristjan Kullamägi
38. “Trade stocks that have volume and range. That’s where the money is.” -Kristjan Kullamägi
39. “You want to buy the first or second breakout.” -Kristjan Kullamägi
40. “Sell a third or half after three to five days. Then, trail the rest with the 10-day moving average.” -Kristjan Kullamägi
41. “The best setups, the ones that make the biggest moves are very clean in the way they act.” -Kristjan Kullamägi
42. “It doesn’t matter if you get shaken out due to an algo or not. You should always obey your stops.” -Kristjan Kullamägi
43. “If you get the big stuff right, you don’t have to worry about the little stuff.” -Kristjan Kullamägi
44. “You want to get into stocks that show relative strength.” -Kristjan Kullamägi
45. “If I get stopped out, I get stopped out. I don’t think. I just get out.” -Kristjan Kullamägi
46. “If it’s a good setup, you have to get back in. Even if that means you have to buy it higher.” -Kristjan Kullamägi
47. “The big moves take weeks and months to play out.” -Kristjan Kullamägi
48. “I prefer to short stocks that have gone up for 3, 4, and 5 days. Those are the best ones because you want to be in a position of strength.” -Kristjan Kullamägi
49. “When you let the price action dictate, you don’t have to think.” -Kristjan Kullamägi
50. “You need the strongest stocks. You don’t have an edge trading random stocks. It has to be a momentum leader.” -Kristjan Kullamägi
51. “Tune out all the media. Tune out all the news. They’re not going to help you at all.” -Kristjan Kullamägi
52. “Earnings are fuel. You need fuel and a reason for something to go up. Stocks don’t go up because of a pattern.” -Kristjan Kullamägi
53. “You have to adapt. What has worked a couple of weeks, months, and years ago may not work in the next couple of weeks, months, and years.” -Kristjan Kullamägi
54. “Every year, there are incredible opportunities to make money.” -Kristjan Kullamägi
55. “Trading is hard, but it’s simple. You just have to learn the patterns and listen to the market.” -Kristjan Kullamägi
56. “I only use hard stops when the price is close to my stop area.” -Kristjan Kullamägi
57. “The down days will tell you which of your stocks are strong and which are weak.” -Kristjan Kullamägi
58. “You can get trading ideas from a book or trading concepts from a book. But the only you learn is to learn the lessons from yourself, from the pain of doing the wrong thing.” -Kristjan Kullamägi
59. “When the market is in a big uptrend, the down days are when the big money is made.” -Kristjan Kullamägi
60. “Focus on tight setups on volatile stocks.” -Kristjan Kullamägi
61. “It’s never a discipline problem, it’s a confidence problem because you haven’t put in enough effort. If you study enough examples of a certain setup, you’ll build confidence.” -Kristjan Kullamägi
62. “You want to see tightness before a breakout.” -Kristjan Kullamägi
63. “It’s fine to sit in cash for months. Patience will make you millions.” -Kristjan Kullamägi
64. “When I take a trade on the short side, I want at least a 1:5 risk-to-reward ratio. On the long side, I want ten times my risk.” -Kristjan Kullamägi
65. “It’s all about choosing not to be a victim.” -Kristjan Kullamägi
66. “The only way to be in the big winners is to have some kind of trailing stop.” -Kristjan Kullamägi
67. “Study four or five different setups. Then, you only need to master one to make tens of millions.” -Kristjan Kullamägi
Frequently asked questions about Qullamaggie
Kristjan Kullamägi is a successful trader. You can use the same tools and methods as he did to trade. The following are answers to common questions about Qullamaggie.
What broker does Kristjan Kullamägi (Qullamaggie) use?
Kristjan Kullamägi uses two brokers, Centerpoint Securities, and Interactive Brokers.
What is the ADR formula that Qullamaggie uses?
Kristjan Kullamägi uses TC2000 as his charting platform. ADR (Average Daily Range) is essential to finding stocks with momentum. The formula is as follows: 100*((H0/L0+H1/L1+H2/L2+H3/L3+H4/L4+H5/L5+H6/L6+H7/L7+H8/L8+H9/L9+H10/L10+H11/L11+H12/L12+H13/L13+H14/L14+H15/L15+H16/L16+H17/L17+H18/L18+H19/L19)/20-1)
What’s Kristjan Kullamägi’s (Qullamaggie) win rate?
Kristjan Kullamägi states that his win rate is between 20 and 30%.
What books does Kristjan Kullamägi (Qullamaggie) recommend?
Kristjan Kullamägi recommends the following books: Reminiscences of a Stock Operator by Edwin Lefévre, How to Make Money in Stocks: A Winning System in Good Times and Bad by William O’Neil, Stock Market Wizards by Jack Schwager, How I Made $2,000,000 in the Stock Market by Nicolas Darvas, Trade Like a Stock Market Wizard and Trade Like a Champion by Mark Minervini.
Featured image courtesy of Kristjan Kullamägi and David Em/More Money More Choices.
About David Em
David Em is the founder of More Money More Choices, which he launched to help you take control of your finances and build your dream life. Before More Money More Choices, David worked in leadership positions in the finance industry.