{"id":49695,"date":"2020-03-02T10:49:47","date_gmt":"2020-03-02T15:49:47","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=49695"},"modified":"2020-03-02T10:49:47","modified_gmt":"2020-03-02T15:49:47","slug":"trader-education-a-top-trade-for-day-traders-to-learn-especially-when-you-begin","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/trader-education-a-top-trade-for-day-traders-to-learn-especially-when-you-begin","title":{"rendered":"Trader Education: A top trade for day traders to learn (especially when you begin)"},"content":{"rendered":"

In this video, we teach a top trade for day traders to learn, especially when you begin. We teach in step by step detail an easy and powerful trade for day traders to learn and make when they first start trading.<\/p>\nView Video Transcript<\/strong><\/span>

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in this video we teach a top trade for<\/div>\n<\/div>\n<\/div>\n
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day traders to learn especially when you<\/div>\n<\/div>\n<\/div>\n
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begin hi I’m Mike bellifiore co-founder<\/div>\n<\/div>\n<\/div>\n
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of SME capital and we’re a proprietary<\/div>\n<\/div>\n<\/div>\n
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trading firm located in midtown<\/div>\n<\/div>\n<\/div>\n
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Manhattan and I’m also the off of the<\/div>\n<\/div>\n<\/div>\n
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trading classic one good trade and the<\/div>\n<\/div>\n<\/div>\n
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PlayBook in this video we teach in<\/div>\n<\/div>\n<\/div>\n
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step-by-step detail an easy and powerful<\/div>\n<\/div>\n<\/div>\n
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trade for day traders to learn and make<\/div>\n<\/div>\n<\/div>\n
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when they first start trading<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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this is one of my favorite setups<\/div>\n<\/div>\n<\/div>\n
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especially as of recently because the<\/div>\n<\/div>\n<\/div>\n
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market has seemed to really work with<\/div>\n<\/div>\n<\/div>\n
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these setups I mean these setups have<\/div>\n<\/div>\n<\/div>\n
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been working lately it’s something<\/div>\n<\/div>\n<\/div>\n
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that’s really pushing my pl this past<\/div>\n<\/div>\n<\/div>\n
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two months with stocks have earnings<\/div>\n<\/div>\n<\/div>\n
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might release bad earnings sit at the<\/div>\n<\/div>\n<\/div>\n
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lows on day one and and have a really<\/div>\n<\/div>\n<\/div>\n
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clean break on dates you for some good<\/div>\n<\/div>\n<\/div>\n
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follow-through with some back tested<\/div>\n<\/div>\n<\/div>\n
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targets that make me feel confident<\/div>\n<\/div>\n<\/div>\n
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about the trade so let’s dive right into<\/div>\n<\/div>\n<\/div>\n
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it okay so the big picture for this<\/div>\n<\/div>\n<\/div>\n
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trade is that via C with had traded<\/div>\n<\/div>\n<\/div>\n
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lower eighteen percent on the prior day<\/div>\n<\/div>\n<\/div>\n
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on bad earnings and consolidated the<\/div>\n<\/div>\n<\/div>\n
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lows throughout the entire session I<\/div>\n<\/div>\n<\/div>\n
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have some info here about but their<\/div>\n<\/div>\n<\/div>\n
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earnings clearly they had missed revenue<\/div>\n<\/div>\n<\/div>\n
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they had missed EPS they had much softer<\/div>\n<\/div>\n<\/div>\n
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guidance for 2020 they also had some<\/div>\n<\/div>\n<\/div>\n
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down grades from a couple banks so I<\/div>\n<\/div>\n<\/div>\n
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mean a lot of things were going in the<\/div>\n<\/div>\n<\/div>\n
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favor of this trade fundamentally and<\/div>\n<\/div>\n<\/div>\n
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and technically as well which I’ll talk<\/div>\n<\/div>\n<\/div>\n
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about next<\/div>\n<\/div>\n<\/div>\n
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anything from the earnings that<\/div>\n<\/div>\n<\/div>\n
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particularly stands out to you well what<\/div>\n<\/div>\n<\/div>\n
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was unique about about this earnings is<\/div>\n<\/div>\n<\/div>\n
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that they had lost a lot of domestic ad<\/div>\n<\/div>\n<\/div>\n
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revenue which was kind of what they were<\/div>\n<\/div>\n<\/div>\n
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really what maybe a lot of investors<\/div>\n<\/div>\n<\/div>\n
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were kind of holding on to for because<\/div>\n<\/div>\n<\/div>\n
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of that and so what stood out about this<\/div>\n<\/div>\n<\/div>\n
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earnings is that an past earnings that<\/div>\n<\/div>\n<\/div>\n
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was kind of their strong point that was<\/div>\n<\/div>\n<\/div>\n
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our strong suit and you know this was<\/div>\n<\/div>\n<\/div>\n
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this was no longer their strong suit and<\/div>\n<\/div>\n<\/div>\n
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this is the only strong suit they had so<\/div>\n<\/div>\n<\/div>\n
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you know it it was worse than normal for<\/div>\n<\/div>\n<\/div>\n
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sure and the volume shows that you know<\/div>\n<\/div>\n<\/div>\n
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somebody clearly knew exactly what they<\/div>\n<\/div>\n<\/div>\n
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were doing once once that earnings was<\/div>\n<\/div>\n<\/div>\n
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released<\/div>\n<\/div>\n<\/div>\n
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so some intraday fundamentals the day<\/div>\n<\/div>\n<\/div>\n
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one move is about 26 percent from close<\/div>\n<\/div>\n<\/div>\n
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to close by 780 ours 5.7 times average<\/div>\n<\/div>\n<\/div>\n
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daily volume really like that number<\/div>\n<\/div>\n<\/div>\n
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that’s obviously incredibly unique to<\/div>\n<\/div>\n<\/div>\n
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see opening our vol 17 you<\/div>\n<\/div>\n<\/div>\n
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elevated for sure ATR 1.47 which is more<\/div>\n<\/div>\n<\/div>\n
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than good enough for you know for a<\/div>\n<\/div>\n<\/div>\n
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decent move average daily volume 9<\/div>\n<\/div>\n<\/div>\n
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million shares you know maybe not the<\/div>\n<\/div>\n<\/div>\n
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best but but good enough institutional<\/div>\n<\/div>\n<\/div>\n
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ownership 82% we like to see this you<\/div>\n<\/div>\n<\/div>\n
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know this tells us it’s an opportunity<\/div>\n<\/div>\n<\/div>\n
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here for many institutions to be hitting<\/div>\n<\/div>\n<\/div>\n
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out and of course as we know<\/div>\n<\/div>\n<\/div>\n
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institutions can’t hit out all in one<\/div>\n<\/div>\n<\/div>\n
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day all in want to go when institutions<\/div>\n<\/div>\n<\/div>\n
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head out they have to hit out over a<\/div>\n<\/div>\n<\/div>\n
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multi-day period and so this is a good<\/div>\n<\/div>\n<\/div>\n
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number for us short below four and a<\/div>\n<\/div>\n<\/div>\n
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half percent on you know good to know<\/div>\n<\/div>\n<\/div>\n
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that not a lot of people or I guess you<\/div>\n<\/div>\n<\/div>\n
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know it’s not an insanely high short<\/div>\n<\/div>\n<\/div>\n
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float where they could spike up on you<\/div>\n<\/div>\n<\/div>\n
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or something crazy like that on the<\/div>\n<\/div>\n<\/div>\n
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right here I have a picture of my RSW<\/div>\n<\/div>\n<\/div>\n
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scanner anybody at SMB is welcome to ask<\/div>\n<\/div>\n<\/div>\n
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me for this scanner I give it out for<\/div>\n<\/div>\n<\/div>\n
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free you know I mean that I share with<\/div>\n<\/div>\n<\/div>\n
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everybody this is a relative strengths<\/div>\n<\/div>\n<\/div>\n
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weakness scanner and basically what it<\/div>\n<\/div>\n<\/div>\n
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does at the end of each day me and my<\/div>\n<\/div>\n<\/div>\n
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trading partner Armand we go through it<\/div>\n<\/div>\n<\/div>\n
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we figure out what stock said the<\/div>\n<\/div>\n<\/div>\n
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largest moves what stocks at the most<\/div>\n<\/div>\n<\/div>\n
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volume and the largest intraday range<\/div>\n<\/div>\n<\/div>\n
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and most importantly if it’s red or<\/div>\n<\/div>\n<\/div>\n
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green it means that it closed at the<\/div>\n<\/div>\n<\/div>\n
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high or low of top 25% of the higher or<\/div>\n<\/div>\n<\/div>\n
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bottom 25% of the low the reason why we<\/div>\n<\/div>\n<\/div>\n
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care for the stock to close the lows or<\/div>\n<\/div>\n<\/div>\n
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the highs because it shows that people<\/div>\n<\/div>\n<\/div>\n
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weren’t really nervous going into the<\/div>\n<\/div>\n<\/div>\n
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clothes they weren’t covering their<\/div>\n<\/div>\n<\/div>\n
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shorts people intended on selling<\/div>\n<\/div>\n<\/div>\n
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further and base all based off some back<\/div>\n<\/div>\n<\/div>\n
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tests that we’ve done a stock that<\/div>\n<\/div>\n<\/div>\n
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closes at the bottom 20 25 % of its<\/div>\n<\/div>\n<\/div>\n
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range will generally have a gap down if<\/div>\n<\/div>\n<\/div>\n
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not follow through the next day the<\/div>\n<\/div>\n<\/div>\n
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follow-through is less and is less<\/div>\n<\/div>\n<\/div>\n
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guaranteed than the gap but it<\/div>\n<\/div>\n<\/div>\n
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definitely we’ve definitely seen a<\/div>\n<\/div>\n<\/div>\n
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correlation between where the stock<\/div>\n<\/div>\n<\/div>\n
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closes and where the stock continues the<\/div>\n<\/div>\n<\/div>\n
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next day so we sit around here and think<\/div>\n<\/div>\n<\/div>\n
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about what are the best trades for you<\/div>\n<\/div>\n<\/div>\n
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guys to learn when you first start and<\/div>\n<\/div>\n<\/div>\n
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how do we teach you guys that this is<\/div>\n<\/div>\n<\/div>\n
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one of the trades that is easiest to<\/div>\n<\/div>\n<\/div>\n
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learn for a new and developing trader<\/div>\n<\/div>\n<\/div>\n
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one of the easiest trades to learn as a<\/div>\n<\/div>\n<\/div>\n
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new and developing traders one of the<\/div>\n<\/div>\n<\/div>\n
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most effective trades that you can take<\/div>\n<\/div>\n<\/div>\n
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as an active trader and so putting those<\/div>\n<\/div>\n<\/div>\n
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two things together you get a set up<\/div>\n<\/div>\n<\/div>\n
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very much worth your attention worth<\/div>\n<\/div>\n<\/div>\n
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your time to learn not difficult to<\/div>\n<\/div>\n<\/div>\n
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understand had a big move on day one<\/div>\n<\/div>\n<\/div>\n
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fundamentals are changing in the company<\/div>\n<\/div>\n<\/div>\n
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price actions not showing that the<\/div>\n<\/div>\n<\/div>\n
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selling is done levels from day one we<\/div>\n<\/div>\n<\/div>\n
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can all understand expectation<\/div>\n<\/div>\n<\/div>\n
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follow-through that’s the second date<\/div>\n<\/div>\n<\/div>\n
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rate right elevated arvo on day one<\/div>\n<\/div>\n<\/div>\n
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lots of expansion so good job looking at<\/div>\n<\/div>\n<\/div>\n
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80 ARS here and as Nano said you’re not<\/div>\n<\/div>\n<\/div>\n
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going to be able to are a big fund to be<\/div>\n<\/div>\n<\/div>\n
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able to get out of your position just<\/div>\n<\/div>\n<\/div>\n
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none day one it’s gonna take you some<\/div>\n<\/div>\n<\/div>\n
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time<\/div>\n<\/div>\n<\/div>\n
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so don’t want underscore my first point<\/div>\n<\/div>\n<\/div>\n
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great great great trade for you to start<\/div>\n<\/div>\n<\/div>\n
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with as a new and developing trader very<\/div>\n<\/div>\n<\/div>\n
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powerful trade what I love here also is<\/div>\n<\/div>\n<\/div>\n
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the use of technology so you don’t miss<\/div>\n<\/div>\n<\/div>\n
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it the problem with this trade that I’ve<\/div>\n<\/div>\n<\/div>\n
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seen in coaching people at this firm and<\/div>\n<\/div>\n<\/div>\n
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outside for this particular trade is<\/div>\n<\/div>\n<\/div>\n
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they miss the best of them and then when<\/div>\n<\/div>\n<\/div>\n
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they go and look at their stats for<\/div>\n<\/div>\n<\/div>\n
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second a trade guess what it’s<\/div>\n<\/div>\n<\/div>\n
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incomplete because there’s really good<\/div>\n<\/div>\n<\/div>\n
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ones that they didn’t take and they<\/div>\n<\/div>\n<\/div>\n
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missed because they didn’t take the time<\/div>\n<\/div>\n<\/div>\n
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to actually do what Nana did which is<\/div>\n<\/div>\n<\/div>\n
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build technology so they don’t miss any<\/div>\n<\/div>\n<\/div>\n
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of them and this was I’m not mistaken<\/div>\n<\/div>\n<\/div>\n
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this was one of your best trades today<\/div>\n<\/div>\n<\/div>\n
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correct yes so I mean it was one of our<\/div>\n<\/div>\n<\/div>\n
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best trades you know in terms of in<\/div>\n<\/div>\n<\/div>\n
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terms of PL but this<\/div>\n<\/div>\n<\/div>\n
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trade came with a lot of regret<\/div>\n<\/div>\n<\/div>\n
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afterwards because we’ve hit this trade<\/div>\n<\/div>\n<\/div>\n
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before and we know what the cost is of<\/div>\n<\/div>\n<\/div>\n
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getting all out on day one the cost is<\/div>\n<\/div>\n<\/div>\n
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you’re gonna probably miss 40 50 percent<\/div>\n<\/div>\n<\/div>\n
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of the move sometimes I mean vias he<\/div>\n<\/div>\n<\/div>\n
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continued to show so much slower and<\/div>\n<\/div>\n<\/div>\n
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while it was a good trade I can’t tell<\/div>\n<\/div>\n<\/div>\n
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you how much heartbreak we have looking<\/div>\n<\/div>\n<\/div>\n
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at via see where it is today because<\/div>\n<\/div>\n<\/div>\n
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that work that we did to get via see on<\/div>\n<\/div>\n<\/div>\n
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our screen could have paid us out five<\/div>\n<\/div>\n<\/div>\n
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times more and I don’t think we’ll be<\/div>\n<\/div>\n<\/div>\n
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making that mistake again that can tell<\/div>\n<\/div>\n<\/div>\n
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you that these trades follow through<\/div>\n<\/div>\n<\/div>\n
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they have power they’re a neat it’s an<\/div>\n<\/div>\n<\/div>\n
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easy trade to learn it’s an easy trade<\/div>\n<\/div>\n<\/div>\n
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to work with and and you know in the<\/div>\n<\/div>\n<\/div>\n
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future I I can’t imagine<\/div>\n<\/div>\n<\/div>\n
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hitting out of this trade all on day one<\/div>\n<\/div>\n<\/div>\n
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you know so yeah<\/div>\n<\/div>\n<\/div>\n
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but yeah it was one of our biggest rates<\/div>\n<\/div>\n<\/div>\n
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thanks for bringing that up yeah okay<\/div>\n<\/div>\n<\/div>\n
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good all right what else you got<\/div>\n<\/div>\n<\/div>\n
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alright so let’s go with the higher time<\/div>\n<\/div>\n<\/div>\n
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frame analysis on this one as you can<\/div>\n<\/div>\n<\/div>\n
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see this this dog is pretty being down<\/div>\n<\/div>\n<\/div>\n
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trading below the 200 daily you know<\/div>\n<\/div>\n<\/div>\n
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it’s getting sold overall on the daily<\/div>\n<\/div>\n<\/div>\n
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you can kind of see a bit of a covering<\/div>\n<\/div>\n<\/div>\n
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rally going into going into earnings I<\/div>\n<\/div>\n<\/div>\n
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mean nothing too serious just looks kind<\/div>\n<\/div>\n<\/div>\n
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of like a bear flag you know probably<\/div>\n<\/div>\n<\/div>\n
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some retail shorts getting out so<\/div>\n<\/div>\n<\/div>\n
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obviously this is a day to play so what<\/div>\n<\/div>\n<\/div>\n
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I’m showing you here is is what the what<\/div>\n<\/div>\n<\/div>\n
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the day looked like the day after<\/div>\n<\/div>\n<\/div>\n
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earnings and this was unique the volume<\/div>\n<\/div>\n<\/div>\n
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was highest that we’ve had on Onvia seen<\/div>\n<\/div>\n<\/div>\n
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years it was breaking monthly supports<\/div>\n<\/div>\n<\/div>\n
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that hadn’t broken in years and it was<\/div>\n<\/div>\n<\/div>\n
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holding down there right so that that’s<\/div>\n<\/div>\n<\/div>\n
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crucial I mean this is a higher time<\/div>\n<\/div>\n<\/div>\n
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frame technical chart that I would<\/div>\n<\/div>\n<\/div>\n
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probably never buy so you know it’s it<\/div>\n<\/div>\n<\/div>\n
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it really lined up very well with this<\/div>\n<\/div>\n<\/div>\n
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trade if you want to learn three<\/div>\n<\/div>\n<\/div>\n
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real-world setups that our traders use<\/div>\n<\/div>\n<\/div>\n
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including this simple setup that we<\/div>\n<\/div>\n<\/div>\n
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teach all of our new traders and the<\/div>\n<\/div>\n<\/div>\n
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setup that turned one of our traders<\/div>\n<\/div>\n<\/div>\n
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into a seven-figure big money earner<\/div>\n<\/div>\n<\/div>\n
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check out the free webinar that we’re<\/div>\n<\/div>\n<\/div>\n
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currently running just go ahead and<\/div>\n<\/div>\n<\/div>\n
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click the link that should be appearing<\/div>\n<\/div>\n<\/div>\n
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right now at the top right hand corner<\/div>\n<\/div>\n<\/div>\n
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of your screen that’s going to open up<\/div>\n<\/div>\n<\/div>\n
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this free registration page<\/div>\n<\/div>\n<\/div>\n
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the new window so don’t worry you’re not<\/div>\n<\/div>\n<\/div>\n
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gonna lose this video you’re gonna learn<\/div>\n<\/div>\n<\/div>\n
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more in a couple of hours from this<\/div>\n<\/div>\n<\/div>\n
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trading workshop than from years of<\/div>\n<\/div>\n<\/div>\n
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online education bit more zoomed in here<\/div>\n<\/div>\n<\/div>\n
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as you guys can see you know we had this<\/div>\n<\/div>\n<\/div>\n
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gap down below 52 we closed you know we<\/div>\n<\/div>\n<\/div>\n
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had the continuation on day one which<\/div>\n<\/div>\n<\/div>\n
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you know sometimes it’s kind of unique<\/div>\n<\/div>\n<\/div>\n
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for this for this trade sometimes it<\/div>\n<\/div>\n<\/div>\n
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doesn’t even continue on day one but<\/div>\n<\/div>\n<\/div>\n
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rather on day one it consolidates on the<\/div>\n<\/div>\n<\/div>\n
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pre market low this one even broke lower<\/div>\n<\/div>\n<\/div>\n
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through this monthly support really<\/div>\n<\/div>\n<\/div>\n
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showing that an institution was hitting<\/div>\n<\/div>\n<\/div>\n
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out for sure and then traded that the<\/div>\n<\/div>\n<\/div>\n
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lows you know that this is again the<\/div>\n<\/div>\n<\/div>\n
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30-minute chart what you’re seeing here<\/div>\n<\/div>\n<\/div>\n
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is is these 30-minute candles as you get<\/div>\n<\/div>\n<\/div>\n
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as you guys can see they’re getting<\/div>\n<\/div>\n<\/div>\n
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tighter and tighter and closing lower<\/div>\n<\/div>\n<\/div>\n
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and lower I’m not sure what he else<\/div>\n<\/div>\n<\/div>\n
\n
\n
could ask for for you know for a short<\/div>\n<\/div>\n<\/div>\n
\n
\n
so some overall market context now<\/div>\n<\/div>\n<\/div>\n
\n
\n
obviously and you know this spy chart<\/div>\n<\/div>\n<\/div>\n
\n
\n
looks so incredibly strong but there was<\/div>\n<\/div>\n<\/div>\n
\n
\n
a small shift in dynamic in terms of the<\/div>\n<\/div>\n<\/div>\n
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\n
tape leading into this trade it did play<\/div>\n<\/div>\n<\/div>\n
\n
\n
a small role in in this trade for us in<\/div>\n<\/div>\n<\/div>\n
\n
\n
particular what we had the day prior was<\/div>\n<\/div>\n<\/div>\n
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\n
a flash crash in the market which was I<\/div>\n<\/div>\n<\/div>\n
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mean unique we hadn’t had this in a<\/div>\n<\/div>\n<\/div>\n
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\n
while and there was definitely some<\/div>\n<\/div>\n<\/div>\n
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\n
coronavirus fear you know fears hitting<\/div>\n<\/div>\n<\/div>\n
\n
\n
the tape the hammer stone you know we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
seeing a lot of you know cases pop up<\/div>\n<\/div>\n<\/div>\n
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\n
here and there and the kind of question<\/div>\n<\/div>\n<\/div>\n
\n
\n
was in our head you can when are we<\/div>\n<\/div>\n<\/div>\n
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\n
gonna get this this real case in the<\/div>\n<\/div>\n<\/div>\n
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\n
United States and when is this going to<\/div>\n<\/div>\n<\/div>\n
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\n
hit the United States and so I think you<\/div>\n<\/div>\n<\/div>\n
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\n
know what what’s happening is is again<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re having a shift in more and in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
dynamic of the tape and it was kind of<\/div>\n<\/div>\n<\/div>\n
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\n
getting a little bit more bearish you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know and most stocks we’re not pushing<\/div>\n<\/div>\n<\/div>\n
\n
\n
all-time highs they’re kind of getting<\/div>\n<\/div>\n<\/div>\n
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\n
sold off their all-time highs now<\/div>\n<\/div>\n<\/div>\n
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regardless I would take this trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
without knowing this this just fuels me<\/div>\n<\/div>\n<\/div>\n
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\n
to kind of look for trades that are<\/div>\n<\/div>\n<\/div>\n
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\n
working to the short side so you know in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the morning me norm on are deciding what<\/div>\n<\/div>\n<\/div>\n
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\n
do you want to do you know we want to<\/div>\n<\/div>\n<\/div>\n
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\n
look for for the ideas that are gonna be<\/div>\n<\/div>\n<\/div>\n
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\n
long ideas we’re gonna look good ideas<\/div>\n<\/div>\n<\/div>\n
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\n
are gonna be short ideas right so on you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know on this day we were we knew that we<\/div>\n<\/div>\n<\/div>\n
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\n
needed to look for ideas that were going<\/div>\n<\/div>\n<\/div>\n
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to be good short ideas and<\/div>\n<\/div>\n<\/div>\n
\n
\n
this wasn’t just any good short idea was<\/div>\n<\/div>\n<\/div>\n
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\n
also a good short idea with some a<\/div>\n<\/div>\n<\/div>\n
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\n
changing tape this mattered a little bit<\/div>\n<\/div>\n<\/div>\n
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\n
for our you know for our conviction for<\/div>\n<\/div>\n<\/div>\n
\n
\n
the trade but you know regardless of<\/div>\n<\/div>\n<\/div>\n
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\n
this we would have taken it so morning<\/div>\n<\/div>\n<\/div>\n
\n
\n
game plan I will mention this game plan<\/div>\n<\/div>\n<\/div>\n
\n
\n
is not much different than any of my<\/div>\n<\/div>\n<\/div>\n
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\n
game plans for a second day rs double<\/div>\n<\/div>\n<\/div>\n
\n
\n
use a second date earnings sorry that<\/div>\n<\/div>\n<\/div>\n
\n
\n
that work you know that that looked like<\/div>\n<\/div>\n<\/div>\n
\n
\n
via see first thing we like to see is<\/div>\n<\/div>\n<\/div>\n
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\n
the afternoon low afternoon resistance<\/div>\n<\/div>\n<\/div>\n
\n
\n
get tested to kind of put on a little<\/div>\n<\/div>\n<\/div>\n
\n
\n
bit of risk against to Davey WAP the<\/div>\n<\/div>\n<\/div>\n
\n
\n
reason that we do this is because<\/div>\n<\/div>\n<\/div>\n
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\n
generally stocks that are gonna continue<\/div>\n<\/div>\n<\/div>\n
\n
\n
lower are gonna get sellers pushing them<\/div>\n<\/div>\n<\/div>\n
\n
\n
even lower from the prior day so you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know the first days level where you see<\/div>\n<\/div>\n<\/div>\n
\n
\n
the stock kind of turnover towards the<\/div>\n<\/div>\n<\/div>\n
\n
\n
afternoon and make another leg lower<\/div>\n<\/div>\n<\/div>\n
\n
\n
that means the seller stepped down there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and what we want to see is those sellers<\/div>\n<\/div>\n<\/div>\n
\n
\n
get tested and those sellers to step<\/div>\n<\/div>\n<\/div>\n
\n
\n
down again that to us confirms that the<\/div>\n<\/div>\n<\/div>\n
\n
\n
sellers are getting more and more<\/div>\n<\/div>\n<\/div>\n
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\n
aggressive<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know I don’t and I call it a spike<\/div>\n<\/div>\n<\/div>\n
\n
\n
right I don’t I don’t want to see it<\/div>\n<\/div>\n<\/div>\n
\n
\n
push up the afternoon resistance and<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of consolidate under it that’s not<\/div>\n<\/div>\n<\/div>\n
\n
\n
good I want to see spike into the<\/div>\n<\/div>\n<\/div>\n
\n
\n
afternoon resistance and fail back down<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly<\/div>\n<\/div>\n<\/div>\n
\n
\n
we used to Davey WAP when we have a<\/div>\n<\/div>\n<\/div>\n
\n
\n
large gap because it allows us time to<\/div>\n<\/div>\n<\/div>\n
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\n
find the people that were where pre<\/div>\n<\/div>\n<\/div>\n
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\n
earnings versus post earnings we don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
use that stop until of course unless we<\/div>\n<\/div>\n<\/div>\n
\n
\n
have an established high a day you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
obviously when you’re shorting something<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you’re not sure where the high a day<\/div>\n<\/div>\n<\/div>\n
\n
\n
is gonna be just yet ads just pushing up<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know you don’t you don’t want to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
to tie you don’t try to top ticket<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s just not worth your time<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know you’d rather you’d rather scale<\/div>\n<\/div>\n<\/div>\n
\n
\n
into a small short position against a<\/div>\n<\/div>\n<\/div>\n
\n
\n
stop where you think the stock should<\/div>\n<\/div>\n<\/div>\n
\n
\n
stay under such as to Davey out for us<\/div>\n<\/div>\n<\/div>\n
\n
\n
for example is what works and and so we<\/div>\n<\/div>\n<\/div>\n
\n
\n
scale in against you Dave you up again<\/div>\n<\/div>\n<\/div>\n
\n
\n
um add those afternoon resistances next<\/div>\n<\/div>\n<\/div>\n
\n
\n
thing I want to see is quick fail of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
afternoon resistance and momentum to the<\/div>\n<\/div>\n<\/div>\n
\n
\n
downside now right so you know initially<\/div>\n<\/div>\n<\/div>\n
\n
\n
some stocks what they’ll do is they’ll<\/div>\n<\/div>\n<\/div>\n
\n
\n
open up they’ll start crying grinding<\/div>\n<\/div>\n<\/div>\n
\n
\n
lower me no I’m on sit there and say<\/div>\n<\/div>\n<\/div>\n
\n
\n
nope that’s not it<\/div>\n<\/div>\n<\/div>\n
\n
\n
because when the stock is going to go<\/div>\n<\/div>\n<\/div>\n
\n
\n
down it’s gonna have momentum it’s going<\/div>\n<\/div>\n<\/div>\n
\n
\n
to get sold so you know when why is he<\/div>\n<\/div>\n<\/div>\n
\n
\n
for exam<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually it opened up and it started<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading lower and me and Armand were in<\/div>\n<\/div>\n<\/div>\n
\n
\n
a little bit from the pre-market but<\/div>\n<\/div>\n<\/div>\n
\n
\n
what we knew was Anissa establish a high<\/div>\n<\/div>\n<\/div>\n
\n
\n
a day once the stock establishes a high<\/div>\n<\/div>\n<\/div>\n
\n
\n
a day that’s when you can really put on<\/div>\n<\/div>\n<\/div>\n
\n
\n
your core position a position that you<\/div>\n<\/div>\n<\/div>\n
\n
\n
can feel like this should not this<\/div>\n<\/div>\n<\/div>\n
\n
\n
should not get above this high day<\/div>\n<\/div>\n<\/div>\n
\n
\n
anymore and that’s when you really have<\/div>\n<\/div>\n<\/div>\n
\n
\n
the great risk reward you know the the<\/div>\n<\/div>\n<\/div>\n
\n
\n
big full t of risk against and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
finally I want to watch for a break and<\/div>\n<\/div>\n<\/div>\n
\n
\n
hold below earnings low you know once it<\/div>\n<\/div>\n<\/div>\n
\n
\n
puts in high day and gets back below<\/div>\n<\/div>\n<\/div>\n
\n
\n
yesterday’s low which is the earnings<\/div>\n<\/div>\n<\/div>\n
\n
\n
low what I want to see is is for it to<\/div>\n<\/div>\n<\/div>\n
\n
\n
get below that easily and hold below<\/div>\n<\/div>\n<\/div>\n
\n
\n
that and if it does then then I need to<\/div>\n<\/div>\n<\/div>\n
\n
\n
be potentially doubling my size there<\/div>\n<\/div>\n<\/div>\n
\n
\n
for a moment<\/div>\n<\/div>\n<\/div>\n
\n
\n
I need to be getting bigger because that<\/div>\n<\/div>\n<\/div>\n
\n
\n
indicates to me that the sellers from<\/div>\n<\/div>\n<\/div>\n
\n
\n
you I’m sorry the bar from yesterday I<\/div>\n<\/div>\n<\/div>\n
\n
\n
was holding a stock up on that flop<\/div>\n<\/div>\n<\/div>\n
\n
\n
bottom is now gone I mean there’s nobody<\/div>\n<\/div>\n<\/div>\n
\n
\n
there anymore it’s it’s free air under<\/div>\n<\/div>\n<\/div>\n
\n
\n
there and and yeah I mean this is lotsa<\/div>\n<\/div>\n<\/div>\n
\n
\n
more thing is to try to hold three<\/div>\n<\/div>\n<\/div>\n
\n
\n
eleven irrelevant price action you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
a lot of times we make the mistake of<\/div>\n<\/div>\n<\/div>\n
\n
\n
stopping out because maybe we see a a<\/div>\n<\/div>\n<\/div>\n
\n
\n
lesser significant swing high get put in<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and that’s why it’s so important to<\/div>\n<\/div>\n<\/div>\n
\n
\n
pay attention to where your high of day<\/div>\n<\/div>\n<\/div>\n
\n
\n
is because if you can just risk off that<\/div>\n<\/div>\n<\/div>\n
\n
\n
for your core position then you kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
play with the with the momentum trades a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little bit we you know with some price<\/div>\n<\/div>\n<\/div>\n
\n
\n
action in there and kind of trade around<\/div>\n<\/div>\n<\/div>\n
\n
\n
your trade that’s okay but you don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
want to touch your core yeah good idea<\/div>\n<\/div>\n<\/div>\n
\n
\n
for when you’re trading your core to<\/div>\n<\/div>\n<\/div>\n
\n
\n
handle your exits with a higher time<\/div>\n<\/div>\n<\/div>\n
\n
\n
frame chart so you know lots of times to<\/div>\n<\/div>\n<\/div>\n
\n
\n
look at 1\/2 minute charts think about<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking at a 15-minute chart in a<\/div>\n<\/div>\n<\/div>\n
\n
\n
30-minute chart for making a<\/div>\n<\/div>\n<\/div>\n
\n
\n
determination on you holding your core<\/div>\n<\/div>\n<\/div>\n
\n
\n
we trade checklist here you can be kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of mostly went over this we want to see<\/div>\n<\/div>\n<\/div>\n
\n
\n
elevator to our vault as we saw in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
interested fundamentals we were 10 times<\/div>\n<\/div>\n<\/div>\n
\n
\n
this breakout below earnings low with<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume quickly get below yesterday’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
prices and then know my targets and I<\/div>\n<\/div>\n<\/div>\n
\n
\n
know what I want to see in Baia see I<\/div>\n<\/div>\n<\/div>\n
\n
\n
want to see it quickly<\/div>\n<\/div>\n<\/div>\n
\n
\n
get below and hold below yesterday’s low<\/div>\n<\/div>\n<\/div>\n
\n
\n
with obvious selling on the tape okay so<\/div>\n<\/div>\n<\/div>\n
\n
\n
um<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is this is my warrant morning game<\/div>\n<\/div>\n<\/div>\n
\n
\n
plan this is my chart so as you guys can<\/div>\n<\/div>\n<\/div>\n
\n
\n
see via see this is this is what I would<\/div>\n<\/div>\n<\/div>\n
\n
\n
consider here are one this would I would<\/div>\n<\/div>\n<\/div>\n
\n
\n
consider here are two and and the most<\/div>\n<\/div>\n<\/div>\n
\n
\n
ideal scenario is that we see a spike<\/div>\n<\/div>\n<\/div>\n
\n
\n
into into r1 and a quick failure of<\/div>\n<\/div>\n<\/div>\n
\n
\n
earnings low yeah so and as you guys can<\/div>\n<\/div>\n<\/div>\n
\n
\n
see right massive moved to the downside<\/div>\n<\/div>\n<\/div>\n
\n
\n
big consolidation all day I mean it<\/div>\n<\/div>\n<\/div>\n
\n
\n
whatever buyer that was at twenty nine<\/div>\n<\/div>\n<\/div>\n
\n
\n
whenever he steps out of the way it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s definitely time to be hitting it<\/div>\n<\/div>\n<\/div>\n
\n
\n
big a slide I added that I haven’t added<\/div>\n<\/div>\n<\/div>\n
\n
\n
to other to other play books that I<\/div>\n<\/div>\n<\/div>\n
\n
\n
really like about this one is and and I<\/div>\n<\/div>\n<\/div>\n
\n
\n
want to really share this with the SMB<\/div>\n<\/div>\n<\/div>\n
\n
\n
guys a lot because it feels like not a<\/div>\n<\/div>\n<\/div>\n
\n
\n
lot of people understand that the<\/div>\n<\/div>\n<\/div>\n
\n
\n
earlier you get up in the morning and<\/div>\n<\/div>\n<\/div>\n
\n
\n
the quicker you get to your desk and if<\/div>\n<\/div>\n<\/div>\n
\n
\n
you have your your your levels prepared<\/div>\n<\/div>\n<\/div>\n
\n
\n
if you have your stuff ready then what<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re gonna catch onto is some clues in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the pre-market clues in the pre-market<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’ll a get you better prices clues in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the pre-market that’ll be gets that gets<\/div>\n<\/div>\n<\/div>\n
\n
\n
you more conviction on the trade and<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’ll put you in a position in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
driver’s seat towards the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
understanding what the tape is like what<\/div>\n<\/div>\n<\/div>\n
\n
\n
I loved about this pre market activity<\/div>\n<\/div>\n<\/div>\n
\n
\n
in particular is that we had kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
tested as r1 and I know you almost can’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
tell but it was a few dashes over here<\/div>\n<\/div>\n<\/div>\n
\n
\n
that traded at r1 and that is exactly<\/div>\n<\/div>\n<\/div>\n
\n
\n
where r1 was after in resistance 1 and<\/div>\n<\/div>\n<\/div>\n
\n
\n
then we quickly got below and then that<\/div>\n<\/div>\n<\/div>\n
\n
\n
8:00 a.m. candle boom right below<\/div>\n<\/div>\n<\/div>\n
\n
\n
yesterday’s close so the name just went<\/div>\n<\/div>\n<\/div>\n
\n
\n
right on the day on 8:00 a.m. now<\/div>\n<\/div>\n<\/div>\n
\n
\n
holding back below view up in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
pre-market I don’t I don’t want to give<\/div>\n<\/div>\n<\/div>\n
\n
\n
too much weight to the free market but<\/div>\n<\/div>\n<\/div>\n
\n
\n
what I do want to say is if there’s if<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s somebody already selling in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
pre-market and nobody’s really holding<\/div>\n<\/div>\n<\/div>\n
\n
\n
it up that’s the reason to maybe be<\/div>\n<\/div>\n<\/div>\n
\n
\n
putting on a little bit of risk there or<\/div>\n<\/div>\n<\/div>\n
\n
\n
at least something to note for yourself<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know that a this this likely is<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna work I’m gonna have more<\/div>\n<\/div>\n<\/div>\n
\n
\n
conviction for this trade and B I might<\/div>\n<\/div>\n<\/div>\n
\n
\n
be able to use these pre market levels<\/div>\n<\/div>\n<\/div>\n
\n
\n
as a place to risk off of for my<\/div>\n<\/div>\n<\/div>\n
\n
\n
intraday trade ok so as you can see you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know the prices that mean I’m on got in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the pre market where prices that weren’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
even seen<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know during an on an intraday basis<\/div>\n<\/div>\n<\/div>\n
\n
\n
right so you know we like I said we had<\/div>\n<\/div>\n<\/div>\n
\n
\n
crashed through yesterday’s close price<\/div>\n<\/div>\n<\/div>\n
\n
\n
at 8:00 a.m. on the open you can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
vias he started kind of trading lower<\/div>\n<\/div>\n<\/div>\n
\n
\n
now what was interesting about this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
the way it was happening the tape wasn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
selling it was kind of slower and so we<\/div>\n<\/div>\n<\/div>\n
\n
\n
were kind of waiting to see if it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna put in a high day a little bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
higher rom and then it did and you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is when you kind of know you have<\/div>\n<\/div>\n<\/div>\n
\n
\n
your best trade it goes it goes to<\/div>\n<\/div>\n<\/div>\n
\n
\n
yesterday’s close price it spikes<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’re probably scare some people out<\/div>\n<\/div>\n<\/div>\n
\n
\n
but but really what’s happening is is<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know we’re getting a spike we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
testing those sellers and then we<\/div>\n<\/div>\n<\/div>\n
\n
\n
immediately fail and then we come back<\/div>\n<\/div>\n<\/div>\n
\n
\n
through open I mean that’s a powerful<\/div>\n<\/div>\n<\/div>\n
\n
\n
pattern to see because I mean it’s it’s<\/div>\n<\/div>\n<\/div>\n
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clearly showing the sellers are in<\/div>\n<\/div>\n<\/div>\n
\n
\n
control is showing that you have<\/div>\n<\/div>\n<\/div>\n
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\n
momentum for your trade and that this<\/div>\n<\/div>\n<\/div>\n
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\n
stock is likely gonna trade lower you<\/div>\n<\/div>\n<\/div>\n
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\n
know when you’re putting on you know<\/div>\n<\/div>\n<\/div>\n
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\n
half your daily stop against you know on<\/div>\n<\/div>\n<\/div>\n
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\n
this trade you want everything all the<\/div>\n<\/div>\n<\/div>\n
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\n
little nuances to be right you want all<\/div>\n<\/div>\n<\/div>\n
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\n
these nuances to you know to line up and<\/div>\n<\/div>\n<\/div>\n
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\n
when we see nuances like this line up<\/div>\n<\/div>\n<\/div>\n
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\n
it’s it only makes sense to be hitting a<\/div>\n<\/div>\n<\/div>\n
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big you know you’re you’re really<\/div>\n<\/div>\n<\/div>\n
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\n
hurting yourself by not hitting a big<\/div>\n<\/div>\n<\/div>\n
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\n
really this is the initial breakdown of<\/div>\n<\/div>\n<\/div>\n
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\n
the tape well you’ll see basically is<\/div>\n<\/div>\n<\/div>\n
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\n
this twenty eight eight level you’ll see<\/div>\n<\/div>\n<\/div>\n
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\n
a breakdown very quickly you can see<\/div>\n<\/div>\n<\/div>\n
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\n
like there’s there’s a bit there that<\/div>\n<\/div>\n<\/div>\n
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\n
gets taken out and then you see some<\/div>\n<\/div>\n<\/div>\n
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large offers trying to like almost like<\/div>\n<\/div>\n<\/div>\n
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\n
chase it down tooth down<\/div>\n<\/div>\n<\/div>\n
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\n
so you guys can see those bids right<\/div>\n<\/div>\n<\/div>\n
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\n
there boom taken out quickly trading<\/div>\n<\/div>\n<\/div>\n
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\n
below 28.8 check out those offers on<\/div>\n<\/div>\n<\/div>\n
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seven eight<\/div>\n<\/div>\n<\/div>\n
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\n
quickly trading back below those prices<\/div>\n<\/div>\n<\/div>\n
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now<\/div>\n<\/div>\n<\/div>\n
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\n
good tape action so let’s see here so<\/div>\n<\/div>\n<\/div>\n
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\n
yeah I mean something I do want to go<\/div>\n<\/div>\n<\/div>\n
\n
\n
over with here is that you know what I’m<\/div>\n<\/div>\n<\/div>\n
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adding to my position through this<\/div>\n<\/div>\n<\/div>\n
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\n
momentum I’m looking for a place to take<\/div>\n<\/div>\n<\/div>\n
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\n
off my momentum you know I mean there’s<\/div>\n<\/div>\n<\/div>\n
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\n
you know you have to pay yourself for<\/div>\n<\/div>\n<\/div>\n
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\n
the trade and in case anything goes<\/div>\n<\/div>\n<\/div>\n
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\n
wrong if I can cover my risk for the<\/div>\n<\/div>\n<\/div>\n
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\n
trade I will but my goal is to not touch<\/div>\n<\/div>\n<\/div>\n
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\n
my core so you know I’m adding a little<\/div>\n<\/div>\n<\/div>\n
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\n
bit exercise probably a little more than<\/div>\n<\/div>\n<\/div>\n
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\n
I even should in hopes that the momentum<\/div>\n<\/div>\n<\/div>\n
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\n
continues and if I see that momentum die<\/div>\n<\/div>\n<\/div>\n
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\n
off I’m hit quickly hitting out of it<\/div>\n<\/div>\n<\/div>\n
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\n
you know I may not have a define stop<\/div>\n<\/div>\n<\/div>\n
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\n
necessarily but my stop is maybe even<\/div>\n<\/div>\n<\/div>\n
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\n
like two or you know a few cents above<\/div>\n<\/div>\n<\/div>\n
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\n
I’m expecting this momentum to continue<\/div>\n<\/div>\n<\/div>\n
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\n
the downside I’m not expecting it to<\/div>\n<\/div>\n<\/div>\n
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\n
even get back above you know the last<\/div>\n<\/div>\n<\/div>\n
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\n
one minute high that type of momentum<\/div>\n<\/div>\n<\/div>\n
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\n
lot I want to take it off quickly pay<\/div>\n<\/div>\n<\/div>\n
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\n
myself a little bit for the trade that<\/div>\n<\/div>\n<\/div>\n
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\n
way I can feel comfortable holding my<\/div>\n<\/div>\n<\/div>\n
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\n
core position which is most likely gonna<\/div>\n<\/div>\n<\/div>\n
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\n
get a fat pullback on that will you know<\/div>\n<\/div>\n<\/div>\n
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\n
that will retrace a lot of profits and<\/div>\n<\/div>\n<\/div>\n
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\n
make me nervous but but ideally if you<\/div>\n<\/div>\n<\/div>\n
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\n
pay yourself with the Momo you put<\/div>\n<\/div>\n<\/div>\n
\n
\n
yourself in a much and in the driver’s<\/div>\n<\/div>\n<\/div>\n
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\n
seat in a sense with with your core<\/div>\n<\/div>\n<\/div>\n
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\n
position that is really what’s going to<\/div>\n<\/div>\n<\/div>\n
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\n
make you you know make up your pay no<\/div>\n<\/div>\n<\/div>\n
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\n
really so let’s talk about that so when<\/div>\n<\/div>\n<\/div>\n
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\n
you have something that’s acting cleanly<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you have something that’s a setup<\/div>\n<\/div>\n<\/div>\n
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\n
that you really like one of your better<\/div>\n<\/div>\n<\/div>\n
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\n
setups that you’ve measured your mindset<\/div>\n<\/div>\n<\/div>\n
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\n
needs to shift towards how do I add some<\/div>\n<\/div>\n<\/div>\n
\n
\n
risk even if adding risk you do so with<\/div>\n<\/div>\n<\/div>\n
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\n
tight stops that’s still better you’ll<\/div>\n<\/div>\n<\/div>\n
\n
\n
get used to actually having more size in<\/div>\n<\/div>\n<\/div>\n
\n
\n
a particular play and from there you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
work on you know what are the optimal<\/div>\n<\/div>\n<\/div>\n
\n
\n
what are the optimal exits for position<\/div>\n<\/div>\n<\/div>\n
\n
\n
like that your mind sets gotta be when<\/div>\n<\/div>\n<\/div>\n
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\n
you’re seeing something acting well<\/div>\n<\/div>\n<\/div>\n
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\n
you’re upsetting in your seat you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
observing oh wow<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is acting so cleanly this is acting<\/div>\n<\/div>\n<\/div>\n
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\n
as if somebody put this in a text book<\/div>\n<\/div>\n<\/div>\n
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this is acting exactly the way that I<\/div>\n<\/div>\n<\/div>\n
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\n
thought it should be<\/div>\n<\/div>\n<\/div>\n
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\n
you should immediately click in your<\/div>\n<\/div>\n<\/div>\n
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\n
head how can I put on more risk where am<\/div>\n<\/div>\n<\/div>\n
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\n
I gonna put on more risk what are gonna<\/div>\n<\/div>\n<\/div>\n
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\n
be my stops for me to put on more risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
and when you do a playbook trade like<\/div>\n<\/div>\n<\/div>\n
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\n
this the focus for something like this<\/div>\n<\/div>\n<\/div>\n
\n
\n
should be within my system I would be<\/div>\n<\/div>\n<\/div>\n
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\n
shorter more here here is specifically<\/div>\n<\/div>\n<\/div>\n
\n
\n
how I might get those executions a good<\/div>\n<\/div>\n<\/div>\n
\n
\n
thing to do is look for those flash ups<\/div>\n<\/div>\n<\/div>\n
\n
\n
now just put some offers up and get in<\/div>\n<\/div>\n<\/div>\n
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\n
the habit of putting some offers up from<\/div>\n<\/div>\n<\/div>\n
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\n
the from the breakdown areas when things<\/div>\n<\/div>\n<\/div>\n
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\n
are acting cleanly nibble as you said<\/div>\n<\/div>\n<\/div>\n
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\n
really really well take some shots at<\/div>\n<\/div>\n<\/div>\n
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\n
some of these Momo Lots when things are<\/div>\n<\/div>\n<\/div>\n
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\n
acting really cleanly that is what you<\/div>\n<\/div>\n<\/div>\n
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\n
have to do and so I like I like the<\/div>\n<\/div>\n<\/div>\n
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\n
focus of hey how am I gonna take some<\/div>\n<\/div>\n<\/div>\n
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\n
more out of this one more thing on a<\/div>\n<\/div>\n<\/div>\n
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\n
separate topic which you brought on<\/div>\n<\/div>\n<\/div>\n
\n
\n
which is a little bit more advanced but<\/div>\n<\/div>\n<\/div>\n
\n
\n
will cover it while you’re here if you<\/div>\n<\/div>\n<\/div>\n
\n
\n
guys want to turn this trade into a<\/div>\n<\/div>\n<\/div>\n
\n
\n
swing trade from day one then I think<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a good candidate for you guys to<\/div>\n<\/div>\n<\/div>\n
\n
\n
put into your joint account test that<\/div>\n<\/div>\n<\/div>\n
\n
\n
out and see if you can help with the<\/div>\n<\/div>\n<\/div>\n
\n
\n
system for being able to trade that so<\/div>\n<\/div>\n<\/div>\n
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\n
maybe it is that you’re holding this<\/div>\n<\/div>\n<\/div>\n
\n
\n
from day one or maybe this is you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna hold it day one overnight into day<\/div>\n<\/div>\n<\/div>\n
\n
\n
two based on the price action from day<\/div>\n<\/div>\n<\/div>\n
\n
\n
one and make that into a separate it<\/div>\n<\/div>\n<\/div>\n
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\n
clearly separate trade clearly separate<\/div>\n<\/div>\n<\/div>\n
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\n
trade but I like the idea of maybe<\/div>\n<\/div>\n<\/div>\n
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\n
thinking about that as a joint account<\/div>\n<\/div>\n<\/div>\n
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\n
option for you guys yes – and we’ve<\/div>\n<\/div>\n<\/div>\n
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\n
definitely been working on on you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting some positions into the joint<\/div>\n<\/div>\n<\/div>\n
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\n
account that way it’s almost you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s it’s in a different account with<\/div>\n<\/div>\n<\/div>\n
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\n
with specific exit criterias that we can<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of study at on a trader view at the<\/div>\n<\/div>\n<\/div>\n
\n
\n
end of the month and figure out is this<\/div>\n<\/div>\n<\/div>\n
\n
\n
working for us is this you know it is is<\/div>\n<\/div>\n<\/div>\n
\n
\n
this helping RPL yeah okay cool so what<\/div>\n<\/div>\n<\/div>\n
\n
\n
I wanted to go over here is how I kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of identify where I take off my momentum<\/div>\n<\/div>\n<\/div>\n
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\n
a lot and in particular this is where I<\/div>\n<\/div>\n<\/div>\n
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\n
took it off over here it wasn’t anything<\/div>\n<\/div>\n<\/div>\n
\n
\n
special it was about one full ATR from<\/div>\n<\/div>\n<\/div>\n
\n
\n
high day I kind of started seeing at<\/div>\n<\/div>\n<\/div>\n
\n
\n
rest the tape kind of started slowing<\/div>\n<\/div>\n<\/div>\n
\n
\n
down<\/div>\n<\/div>\n<\/div>\n
\n
\n
and I could tell you that the<\/div>\n<\/div>\n<\/div>\n
\n
\n
overextension was coming based off the<\/div>\n<\/div>\n<\/div>\n
\n
\n
tape so I think this could be helpful<\/div>\n<\/div>\n<\/div>\n
\n
\n
tape for those of you who are looking to<\/div>\n<\/div>\n<\/div>\n
\n
\n
play with some of these Momo lots so<\/div>\n<\/div>\n<\/div>\n
\n
\n
what I want you to watch here is a<\/div>\n<\/div>\n<\/div>\n
\n
\n
twenty and a quarter bid that ends up<\/div>\n<\/div>\n<\/div>\n
\n
\n
holding<\/div>\n<\/div>\n<\/div>\n
\n
\n
into the overextension you start seeing<\/div>\n<\/div>\n<\/div>\n
\n
\n
a lot more people start paying the offer<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know you’re not gonna see a ton of<\/div>\n<\/div>\n<\/div>\n
\n
\n
green on a normal on a normal stock<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s going like this but you know when<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s a full HDR off the highs within you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know within within 15 minutes you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna expect some short covering which<\/div>\n<\/div>\n<\/div>\n
\n
\n
is probably what you’re seeing here so<\/div>\n<\/div>\n<\/div>\n
\n
\n
as you can see once you know once we had<\/div>\n<\/div>\n<\/div>\n
\n
\n
exited some into into the server<\/div>\n<\/div>\n<\/div>\n
\n
\n
extension that I just showed you the<\/div>\n<\/div>\n<\/div>\n
\n
\n
tape of you know we had this massive<\/div>\n<\/div>\n<\/div>\n
\n
\n
pullback over here and and this pullback<\/div>\n<\/div>\n<\/div>\n
\n
\n
trades above vo up even for a bit right<\/div>\n<\/div>\n<\/div>\n
\n
\n
and consolidates here and and definitely<\/div>\n<\/div>\n<\/div>\n
\n
\n
made us nervous and it probably makes<\/div>\n<\/div>\n<\/div>\n
\n
\n
any any an experienced trader a little<\/div>\n<\/div>\n<\/div>\n
\n
\n
bit nervous once it gets above Viwa but<\/div>\n<\/div>\n<\/div>\n
\n
\n
here’s the thing the stock is down 20 20<\/div>\n<\/div>\n<\/div>\n
\n
\n
something percent you know you can’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
expect it to trade so perfectly to the<\/div>\n<\/div>\n<\/div>\n
\n
\n
tick and and fail view off to the tick<\/div>\n<\/div>\n<\/div>\n
\n
\n
right it’s gonna need to rest a little<\/div>\n<\/div>\n<\/div>\n
\n
\n
bit it might go a little bit higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
first but the idea of your core position<\/div>\n<\/div>\n<\/div>\n
\n
\n
to use a higher time frame swing high to<\/div>\n<\/div>\n<\/div>\n
\n
\n
to drift risk off of its to not put<\/div>\n<\/div>\n<\/div>\n
\n
\n
yourself in a position where you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
stopping out right above V wop<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s not a logical thing to do when<\/div>\n<\/div>\n<\/div>\n
\n
\n
you think this stock has a potential to<\/div>\n<\/div>\n<\/div>\n
\n
\n
go to 27 and a half you know my<\/div>\n<\/div>\n<\/div>\n
\n
\n
conservative target was even 27 and a<\/div>\n<\/div>\n<\/div>\n
\n
\n
half and you know we’re only sitting at<\/div>\n<\/div>\n<\/div>\n
\n
\n
28.3 well I’ll turn it if for you guys<\/div>\n<\/div>\n<\/div>\n
\n
\n
to think about and let me just take a<\/div>\n<\/div>\n<\/div>\n
\n
\n
step back stocks down a ton its SSR<\/div>\n<\/div>\n<\/div>\n
\n
\n
meaning that people have to force shorts<\/div>\n<\/div>\n<\/div>\n
\n
\n
first move to the downside steep all<\/div>\n<\/div>\n<\/div>\n
\n
\n
those things get you to be thinking of<\/div>\n<\/div>\n<\/div>\n
\n
\n
this possibly needs to leak above Viwa<\/div>\n<\/div>\n<\/div>\n
\n
\n
before it can we fail again I don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
really love the idea of holding things<\/div>\n<\/div>\n<\/div>\n
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\n
above view up<\/div>\n<\/div>\n<\/div>\n
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\n
I like the idea perhaps better of taking<\/div>\n<\/div>\n<\/div>\n
\n
\n
some stops maybe not all of them but<\/div>\n<\/div>\n<\/div>\n
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\n
then if you see sort of a lower high or<\/div>\n<\/div>\n<\/div>\n
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\n
a failure just above you up or running<\/div>\n<\/div>\n<\/div>\n
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\n
out of steam above you up to hit it hard<\/div>\n<\/div>\n<\/div>\n
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\n
and use the top of the leak above you up<\/div>\n<\/div>\n<\/div>\n
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\n
for that for that for those shares that<\/div>\n<\/div>\n<\/div>\n
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\n
you really hit hard yeah and I think<\/div>\n<\/div>\n<\/div>\n
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\n
there is nothing<\/div>\n<\/div>\n<\/div>\n
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\n
some work that we can do there to to to<\/div>\n<\/div>\n<\/div>\n
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\n
managing the position a little bit more<\/div>\n<\/div>\n<\/div>\n
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\n
I think a big problem before is that me<\/div>\n<\/div>\n<\/div>\n
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\n
nor Mon we would really are trying to<\/div>\n<\/div>\n<\/div>\n
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\n
focus on on not kidding out of this core<\/div>\n<\/div>\n<\/div>\n
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\n
because it was just costing us so much<\/div>\n<\/div>\n<\/div>\n
\n
\n
to get out of our core position but I<\/div>\n<\/div>\n<\/div>\n
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\n
think as we get more comfortable with<\/div>\n<\/div>\n<\/div>\n
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\n
these trades and kind of expect this<\/div>\n<\/div>\n<\/div>\n
\n
\n
type of a price action to start panning<\/div>\n<\/div>\n<\/div>\n
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\n
out where it’s gonna get above V whoppin<\/div>\n<\/div>\n<\/div>\n
\n
\n
and consolidate I mean there’s a chance<\/div>\n<\/div>\n<\/div>\n
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\n
it was gonna break up and and ideally I<\/div>\n<\/div>\n<\/div>\n
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\n
would have covered closer well I think<\/div>\n<\/div>\n<\/div>\n
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\n
what you want to do there is maybe you<\/div>\n<\/div>\n<\/div>\n
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\n
have a trade decision to get out of at<\/div>\n<\/div>\n<\/div>\n
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\n
least half but then when you see it<\/div>\n<\/div>\n<\/div>\n
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\n
starts to slow not get higher you know<\/div>\n<\/div>\n<\/div>\n
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\n
let’s say you were in tier 1 or tier 2<\/div>\n<\/div>\n<\/div>\n
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\n
you get out of half your watching you<\/div>\n<\/div>\n<\/div>\n
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\n
see the slowing you see the lower high<\/div>\n<\/div>\n<\/div>\n
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\n
you see it running out of steam you see<\/div>\n<\/div>\n<\/div>\n
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\n
a turn you can be tier 4 them hitting it<\/div>\n<\/div>\n<\/div>\n
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\n
hard using that as momentum stocks<\/div>\n<\/div>\n<\/div>\n
\n
\n
momentum tiers trading tiers trading<\/div>\n<\/div>\n<\/div>\n
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\n
around your courtiers using that stop<\/div>\n<\/div>\n<\/div>\n
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\n
against the high of the leak above you<\/div>\n<\/div>\n<\/div>\n
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\n
up and getting the habit of that that<\/div>\n<\/div>\n<\/div>\n
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\n
way you’re staying away from being<\/div>\n<\/div>\n<\/div>\n
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\n
against the momentum I do think there’s<\/div>\n<\/div>\n<\/div>\n
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\n
a trade decision when something gets<\/div>\n<\/div>\n<\/div>\n
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\n
above you up in a position to take some<\/div>\n<\/div>\n<\/div>\n
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\n
off you don’t always have to take it off<\/div>\n<\/div>\n<\/div>\n
\n
\n
but that is a trade decision you want to<\/div>\n<\/div>\n<\/div>\n
\n
\n
keep yourself away from being against<\/div>\n<\/div>\n<\/div>\n
\n
\n
the momentum as best you can<\/div>\n<\/div>\n<\/div>\n
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\n
because you don’t have to you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
re-enter we’re not trying to put on a<\/div>\n<\/div>\n<\/div>\n
\n
\n
million shares of this particular stock<\/div>\n<\/div>\n<\/div>\n
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\n
we’re trying to put on a small amount so<\/div>\n<\/div>\n<\/div>\n
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\n
you can get out understand if it slows<\/div>\n<\/div>\n<\/div>\n
\n
\n
again and you start to see a turn to hit<\/div>\n<\/div>\n<\/div>\n
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\n
it hard get even bigger than you were<\/div>\n<\/div>\n<\/div>\n
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\n
that’s a better position to be in that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
better trading then let me just hold it<\/div>\n<\/div>\n<\/div>\n
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through V whap which is the signal that<\/div>\n<\/div>\n<\/div>\n
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the momentum is now up because what<\/div>\n<\/div>\n<\/div>\n
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happens if it that what happens it just<\/div>\n<\/div>\n<\/div>\n
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turns around and and goes all the way<\/div>\n<\/div>\n<\/div>\n
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back up to you know its opening price<\/div>\n<\/div>\n<\/div>\n
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then you you wipe out all of your your<\/div>\n<\/div>\n<\/div>\n
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gains but make that decision take some<\/div>\n<\/div>\n<\/div>\n
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off let it soften let it turn and then<\/div>\n<\/div>\n<\/div>\n
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boom hit it hard now you’re with the<\/div>\n<\/div>\n<\/div>\n
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momentum again when you hit it hard<\/div>\n<\/div>\n<\/div>\n
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you’re in control of your risk you’re<\/div>\n<\/div>\n<\/div>\n
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even bigger than you were just sitting<\/div>\n<\/div>\n<\/div>\n
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through the trade and you’ll make more<\/div>\n<\/div>\n<\/div>\n
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money that way and be more consistent<\/div>\n<\/div>\n<\/div>\n
\n
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something for you guys to think about<\/div>\n<\/div>\n<\/div>\n
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yeah I’m gonna have to take note of that<\/div>\n<\/div>\n<\/div>\n
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I think III clearly I think you are<\/div>\n<\/div>\n<\/div>\n
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right<\/div>\n<\/div>\n<\/div>\n
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there’s and it’s it doesn’t seem like<\/div>\n<\/div>\n<\/div>\n
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the most logical thing to do to to hold<\/div>\n<\/div>\n<\/div>\n
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through a move above you up because yeah<\/div>\n<\/div>\n<\/div>\n
\n
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I mean we we were very very close here<\/div>\n<\/div>\n<\/div>\n
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to saying this is just not looking so<\/div>\n<\/div>\n<\/div>\n
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good for us you know at one point this<\/div>\n<\/div>\n<\/div>\n
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is you know and I would hate it take it<\/div>\n<\/div>\n<\/div>\n
\n
\n
off a 2890 when I could have taken it<\/div>\n<\/div>\n<\/div>\n
\n
\n
off at you know down at twenty fifty<\/div>\n<\/div>\n<\/div>\n
\n
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when I first popped that back about V<\/div>\n<\/div>\n<\/div>\n
\n
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Bob so definitely some work we can do<\/div>\n<\/div>\n<\/div>\n
\n
\n
there with kind of prioritizing the<\/div>\n<\/div>\n<\/div>\n
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process of where where you can hit it<\/div>\n<\/div>\n<\/div>\n
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hit out your core and where you can make<\/div>\n<\/div>\n<\/div>\n
\n
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sure you’re hitting back in that way<\/div>\n<\/div>\n<\/div>\n
\n
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we’re not finding ourselves in a<\/div>\n<\/div>\n<\/div>\n
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position where you know we’re not<\/div>\n<\/div>\n<\/div>\n
\n
\n
hitting back in the core for one reason<\/div>\n<\/div>\n<\/div>\n
\n
\n
or another but yeah it definitely makes<\/div>\n<\/div>\n<\/div>\n
\n
\n
sense to me I mean here trade executions<\/div>\n<\/div>\n<\/div>\n
\n
\n
as you guys can see you know we we short<\/div>\n<\/div>\n<\/div>\n
\n
\n
a little we were short a little bit in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the pre-market we short a little bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
towards the open and then once we saw<\/div>\n<\/div>\n<\/div>\n
\n
\n
that big spike and to into yesterday’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
prices and a clear failure through the<\/div>\n<\/div>\n<\/div>\n
\n
\n
through the low shorted more take off<\/div>\n<\/div>\n<\/div>\n
\n
\n
that momentum lot and you know and and<\/div>\n<\/div>\n<\/div>\n
\n
\n
the rest is cake really for the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s it’s it’s too easy really I mean<\/div>\n<\/div>\n<\/div>\n
\n
\n
these trades when they work like this<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know you expect to get paid now it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
your turn what one trade would you<\/div>\n<\/div>\n<\/div>\n
\n
\n
recommend for day traders to learn and<\/div>\n<\/div>\n<\/div>\n
\n
\n
take when they begin let us know by<\/div>\n<\/div>\n<\/div>\n
\n
\n
leaving a comment below right now<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n
<\/div><\/div>\n<\/div>\n<\/div>\n

\"\"<\/a><\/p>\n

* no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

In this video, we teach a top trade for day traders to learn, especially when you begin. 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