{"id":49844,"date":"2020-05-07T16:30:25","date_gmt":"2020-05-07T20:30:25","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=49844"},"modified":"2020-05-07T16:30:25","modified_gmt":"2020-05-07T20:30:25","slug":"how-elite-prop-traders-are-taking-fewer-trades-with-more-size-and-achieving-even-larger-profits","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-elite-prop-traders-are-taking-fewer-trades-with-more-size-and-achieving-even-larger-profits","title":{"rendered":"How Elite Prop Traders Are Taking Fewer Trades With More Size And Achieving Even Larger Profits"},"content":{"rendered":"

In this video learn how elite proprietary traders are taking fewer trades with more size and risk and achieving even larger profits. Learn how you can trade less and why you should focus on trading less to help grow your trading account.<\/p>\nView Video Transcript<\/strong><\/span>

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in this video learn how elite<\/div>\n<\/div>\n<\/div>\n
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proprietary traders are taking fewer<\/div>\n<\/div>\n<\/div>\n
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trades with more size and risk and<\/div>\n<\/div>\n<\/div>\n
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achieving even larger profits hi I’m<\/div>\n<\/div>\n<\/div>\n
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Mike bellafiore co-founder of SME<\/div>\n<\/div>\n<\/div>\n
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capital and we’re a proprietary trading<\/div>\n<\/div>\n<\/div>\n
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firm located in midtown Manhattan and<\/div>\n<\/div>\n<\/div>\n
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I’m also the author of the trading<\/div>\n<\/div>\n<\/div>\n
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classic one good trade and the playbook<\/div>\n<\/div>\n<\/div>\n
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click our subscribe button so you don’t<\/div>\n<\/div>\n<\/div>\n
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miss any of the videos they’re producing<\/div>\n<\/div>\n<\/div>\n
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for you in the trading community learn<\/div>\n<\/div>\n<\/div>\n
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how you can trade less and why you<\/div>\n<\/div>\n<\/div>\n
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should focus on trading less to help<\/div>\n<\/div>\n<\/div>\n
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rule your trading account so this is a<\/div>\n<\/div>\n<\/div>\n
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day one fresh new set up an apple<\/div>\n<\/div>\n<\/div>\n
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there’s also a market relative weakness<\/div>\n<\/div>\n<\/div>\n
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set up using the overall market big<\/div>\n<\/div>\n<\/div>\n
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picture so today the big picture of the<\/div>\n<\/div>\n<\/div>\n
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overall market the spy had put in a low<\/div>\n<\/div>\n<\/div>\n
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fifteen days ago and rallied thirty<\/div>\n<\/div>\n<\/div>\n
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percent since at that low volatility<\/div>\n<\/div>\n<\/div>\n
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peaked at 85 now volatility what was<\/div>\n<\/div>\n<\/div>\n
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trading at forty s so the market was<\/div>\n<\/div>\n<\/div>\n
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still in play but nearly as in play as<\/div>\n<\/div>\n<\/div>\n
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it was back when we were at the peak the<\/div>\n<\/div>\n<\/div>\n
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daily volume for spy also had dropped<\/div>\n<\/div>\n<\/div>\n
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off 40 percent and a matter of that last<\/div>\n<\/div>\n<\/div>\n
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three weeks and so things have slowed<\/div>\n<\/div>\n<\/div>\n
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down but are still we’re still in a<\/div>\n<\/div>\n<\/div>\n
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market in play environment so with that<\/div>\n<\/div>\n<\/div>\n
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compared to March especially my focus<\/div>\n<\/div>\n<\/div>\n
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points and April have become to really<\/div>\n<\/div>\n<\/div>\n
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focus on stock selection focus on only<\/div>\n<\/div>\n<\/div>\n
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the strongest and weakest day ones and<\/div>\n<\/div>\n<\/div>\n
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day twos really making sure that I<\/div>\n<\/div>\n<\/div>\n
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identify what setup I’m taking rather<\/div>\n<\/div>\n<\/div>\n
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than you know taking a breakout breakout<\/div>\n<\/div>\n<\/div>\n
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trades or scalp trades that’s been<\/div>\n<\/div>\n<\/div>\n
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helping me a lot using more risk per<\/div>\n<\/div>\n<\/div>\n
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trade at least 25% of my daily stock<\/div>\n<\/div>\n<\/div>\n
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that helps encourage me to be more<\/div>\n<\/div>\n<\/div>\n
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selective with regards to execution what<\/div>\n<\/div>\n<\/div>\n
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I’m what I have been working on so how<\/div>\n<\/div>\n<\/div>\n
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are you what are you doing to find the<\/div>\n<\/div>\n<\/div>\n
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strongest and weakest stocks for day one<\/div>\n<\/div>\n<\/div>\n
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so for day one I am both scanning<\/div>\n<\/div>\n<\/div>\n
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through all the emails from like we get<\/div>\n<\/div>\n<\/div>\n
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emails from Spence Tobias and about a<\/div>\n<\/div>\n<\/div>\n
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bunch of hammerstone emails in our inbox<\/div>\n<\/div>\n<\/div>\n
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in the morning and then I’m comparing<\/div>\n<\/div>\n<\/div>\n
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those emails to the pre-market ball<\/div>\n<\/div>\n<\/div>\n
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with a pre-market scanner that I have<\/div>\n<\/div>\n<\/div>\n
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built and what I want to see is a a<\/div>\n<\/div>\n<\/div>\n
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compelling catalyst and then be a lot of<\/div>\n<\/div>\n<\/div>\n
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pre market volume alongside that and<\/div>\n<\/div>\n<\/div>\n
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then how are you finding the strongest<\/div>\n<\/div>\n<\/div>\n
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and weakest state twos so day twos that<\/div>\n<\/div>\n<\/div>\n
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have a day two relative strength<\/div>\n<\/div>\n<\/div>\n
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relative weakness scanner that tells me<\/div>\n<\/div>\n<\/div>\n
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all the stocks that closed at the top<\/div>\n<\/div>\n<\/div>\n
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bottom top or bottom 25 percent of their<\/div>\n<\/div>\n<\/div>\n
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range with more than one and a half<\/div>\n<\/div>\n<\/div>\n
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times their average daily volume and<\/div>\n<\/div>\n<\/div>\n
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I’ve been sorted by the stocks have done<\/div>\n<\/div>\n<\/div>\n
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the most volume at the top you know and<\/div>\n<\/div>\n<\/div>\n
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then the lesser volume down at the<\/div>\n<\/div>\n<\/div>\n
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bottom and so what I want to see for day<\/div>\n<\/div>\n<\/div>\n
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twos are stocks that are in the top five<\/div>\n<\/div>\n<\/div>\n
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or top ten of that filter and those will<\/div>\n<\/div>\n<\/div>\n
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be my day two ideas for the next day so<\/div>\n<\/div>\n<\/div>\n
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so I look at my filter the day before<\/div>\n<\/div>\n<\/div>\n
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and then I create my watch list for day<\/div>\n<\/div>\n<\/div>\n
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twos the next day based on that the top<\/div>\n<\/div>\n<\/div>\n
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names on that list yeah so for execution<\/div>\n<\/div>\n<\/div>\n
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some something I’m working on is<\/div>\n<\/div>\n<\/div>\n
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entering when I see a turn allocating a<\/div>\n<\/div>\n<\/div>\n
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quarter of that trades allocated risk<\/div>\n<\/div>\n<\/div>\n
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against that turn and that’s you know<\/div>\n<\/div>\n<\/div>\n
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before I’ve gotten confirmation that the<\/div>\n<\/div>\n<\/div>\n
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trade has broken down and start and has<\/div>\n<\/div>\n<\/div>\n
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started to work and then when I see the<\/div>\n<\/div>\n<\/div>\n
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breakdown or the break up and and the<\/div>\n<\/div>\n<\/div>\n
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high-volume coming into into my trade in<\/div>\n<\/div>\n<\/div>\n
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my direction through a critical level<\/div>\n<\/div>\n<\/div>\n
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that’s when I want to enter the full<\/div>\n<\/div>\n<\/div>\n
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100% of my allocated risk on that setup<\/div>\n<\/div>\n<\/div>\n
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also this market I feel like it’s been<\/div>\n<\/div>\n<\/div>\n
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very important to fight for good prices<\/div>\n<\/div>\n<\/div>\n
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and not chase and the still move to move<\/div>\n<\/div>\n<\/div>\n
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I don’t it hasn’t made sense for me to<\/div>\n<\/div>\n<\/div>\n
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hold more than 25% of a position as a<\/div>\n<\/div>\n<\/div>\n
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core unless the stock I’m in is making<\/div>\n<\/div>\n<\/div>\n
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new 52-week highs or 52 we close on a<\/div>\n<\/div>\n<\/div>\n
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catalyst that’s kind of the only<\/div>\n<\/div>\n<\/div>\n
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exception otherwise that I’m trying to<\/div>\n<\/div>\n<\/div>\n
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be able to move on this day here here’s<\/div>\n<\/div>\n<\/div>\n
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a high timeframe chart of the VIX you<\/div>\n<\/div>\n<\/div>\n
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can see and about 27 days VIX ran up<\/div>\n<\/div>\n<\/div>\n
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substantially all the way up to a high<\/div>\n<\/div>\n<\/div>\n
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of 85 and you know I’ve over the next 30<\/div>\n<\/div>\n<\/div>\n
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days we’ve come off 50<\/div>\n<\/div>\n<\/div>\n
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and so while the market remains in play<\/div>\n<\/div>\n<\/div>\n
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with volatility being above 20 or so we<\/div>\n<\/div>\n<\/div>\n
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are in a substantially less volatile<\/div>\n<\/div>\n<\/div>\n
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market than in march and that requires<\/div>\n<\/div>\n<\/div>\n
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far more selectivity maybe’s a higher<\/div>\n<\/div>\n<\/div>\n
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time frame chart it was interesting I<\/div>\n<\/div>\n<\/div>\n
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was reading sharks daily playbook<\/div>\n<\/div>\n<\/div>\n
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yesterday and I tweeted about this today<\/div>\n<\/div>\n<\/div>\n
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and we put it up on our Instagram and he<\/div>\n<\/div>\n<\/div>\n
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was saying<\/div>\n<\/div>\n<\/div>\n
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to trade less but trade bigger in this<\/div>\n<\/div>\n<\/div>\n
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market we’re cognizant of the decline<\/div>\n<\/div>\n<\/div>\n
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and volatility and we’re making<\/div>\n<\/div>\n<\/div>\n
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adjustments from where we are at the top<\/div>\n<\/div>\n<\/div>\n
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and you’re doing a nice job of<\/div>\n<\/div>\n<\/div>\n
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recognizing the drop in volatility<\/div>\n<\/div>\n<\/div>\n
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though still high though still high<\/div>\n<\/div>\n<\/div>\n
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right most will still take it yep but<\/div>\n<\/div>\n<\/div>\n
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we’re making adjustments oh good to<\/div>\n<\/div>\n<\/div>\n
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notice that yeah I agree I think that’s<\/div>\n<\/div>\n<\/div>\n
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been pretty critical<\/div>\n<\/div>\n<\/div>\n
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whereas in March I think you could be a<\/div>\n<\/div>\n<\/div>\n
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lot more fluid in this market you’re<\/div>\n<\/div>\n<\/div>\n
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punished a lot more for taking lesser<\/div>\n<\/div>\n<\/div>\n
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quality trades and so you really have to<\/div>\n<\/div>\n<\/div>\n
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be focused on a plus setups that you<\/div>\n<\/div>\n<\/div>\n
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allocate more risk towards spy you can<\/div>\n<\/div>\n<\/div>\n
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see is in kind of a weird spot because<\/div>\n<\/div>\n<\/div>\n
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you know it it fell 35 percent from the<\/div>\n<\/div>\n<\/div>\n
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highs but in the last 15 sessions its<\/div>\n<\/div>\n<\/div>\n
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rallied 30 percent to the upside and so<\/div>\n<\/div>\n<\/div>\n
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we’re not necessarily oversold anymore<\/div>\n<\/div>\n<\/div>\n
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but we’re also not really overbought<\/div>\n<\/div>\n<\/div>\n
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either because you know we’re still<\/div>\n<\/div>\n<\/div>\n
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below the 200 DMA and so in this area<\/div>\n<\/div>\n<\/div>\n
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I’m really expecting a two-way tape each<\/div>\n<\/div>\n<\/div>\n
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day may be different we may be having<\/div>\n<\/div>\n<\/div>\n
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you know a strong tape day followed by a<\/div>\n<\/div>\n<\/div>\n
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weak tape day and I feel like in this<\/div>\n<\/div>\n<\/div>\n
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market more so in any other market that<\/div>\n<\/div>\n<\/div>\n
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I’ve been in in the last you know year<\/div>\n<\/div>\n<\/div>\n
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it’s so important to be cognizant of<\/div>\n<\/div>\n<\/div>\n
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what the spy is doing and what the ETF<\/div>\n<\/div>\n<\/div>\n
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and sector that you’re trading is also<\/div>\n<\/div>\n<\/div>\n
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doing so that you can trade with that<\/div>\n<\/div>\n<\/div>\n
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momentum 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 the simple setup that we teach<\/div>\n<\/div>\n<\/div>\n
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all of our new traders and the setup<\/div>\n<\/div>\n<\/div>\n
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that turned one of our traders into a<\/div>\n<\/div>\n<\/div>\n
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seven-figure big money earner check out<\/div>\n<\/div>\n<\/div>\n
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the free webinar that we’re currently<\/div>\n<\/div>\n<\/div>\n
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running just go ahead and click the link<\/div>\n<\/div>\n<\/div>\n
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that should be appearing right now at<\/div>\n<\/div>\n<\/div>\n
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the top right hand corner of your screen<\/div>\n<\/div>\n<\/div>\n
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that’s going to open up this free<\/div>\n<\/div>\n<\/div>\n
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registration page in the new window so<\/div>\n<\/div>\n<\/div>\n
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don’t worry you’re not going to lose<\/div>\n<\/div>\n<\/div>\n
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this video you’re gonna learn more in a<\/div>\n<\/div>\n<\/div>\n
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couple of hours from this trading<\/div>\n<\/div>\n<\/div>\n
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workshop then from years of online<\/div>\n<\/div>\n<\/div>\n
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education so the overall fundamentals on<\/div>\n<\/div>\n<\/div>\n
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this day we’re that the stock US stock<\/div>\n<\/div>\n<\/div>\n
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features were<\/div>\n<\/div>\n<\/div>\n
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surging overnight on the release of both<\/div>\n<\/div>\n<\/div>\n
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promising preliminary data from a room<\/div>\n<\/div>\n<\/div>\n
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des aveer study and also you know new<\/div>\n<\/div>\n<\/div>\n
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announcement from the president and his<\/div>\n<\/div>\n<\/div>\n
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afternoon press conference that us will<\/div>\n<\/div>\n<\/div>\n
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be instituting a three-phase plan to<\/div>\n<\/div>\n<\/div>\n
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open up the country and so this caused<\/div>\n<\/div>\n<\/div>\n
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the Dow to be when I woke up this<\/div>\n<\/div>\n<\/div>\n
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morning it was set to open three and a<\/div>\n<\/div>\n<\/div>\n
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half percent higher and most market<\/div>\n<\/div>\n<\/div>\n
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stocks were gapping up with it now what<\/div>\n<\/div>\n<\/div>\n
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was interesting to me was that the<\/div>\n<\/div>\n<\/div>\n
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queues were only gapping up 1% that<\/div>\n<\/div>\n<\/div>\n
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morning<\/div>\n<\/div>\n<\/div>\n
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that gave me a clue that technology may<\/div>\n<\/div>\n<\/div>\n
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be weaker than the overall market today<\/div>\n<\/div>\n<\/div>\n
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one thing I wanted to throw in was that<\/div>\n<\/div>\n<\/div>\n
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I didn’t want to be too biased on this<\/div>\n<\/div>\n<\/div>\n
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morning that we were going to continue<\/div>\n<\/div>\n<\/div>\n
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upwards because because we’re in such a<\/div>\n<\/div>\n<\/div>\n
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high high volatility market I think it’s<\/div>\n<\/div>\n<\/div>\n
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really tricky to just blindly trust a<\/div>\n<\/div>\n<\/div>\n
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catalyst like that and so for me I<\/div>\n<\/div>\n<\/div>\n
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wanted to be very cognizant cognizant of<\/div>\n<\/div>\n<\/div>\n
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whether the market would be showing me<\/div>\n<\/div>\n<\/div>\n
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weakness on the open or showing me<\/div>\n<\/div>\n<\/div>\n
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strength on the open and if it was<\/div>\n<\/div>\n<\/div>\n
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showing weakness I wanted to go to my<\/div>\n<\/div>\n<\/div>\n
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best weak stock idea and if it was<\/div>\n<\/div>\n<\/div>\n
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showing strength that I wanted to<\/div>\n<\/div>\n<\/div>\n
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continue upward I wanted to go to my<\/div>\n<\/div>\n<\/div>\n
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best strong markets top stock idea so I<\/div>\n<\/div>\n<\/div>\n
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included a quote from Brian Shane and<\/div>\n<\/div>\n<\/div>\n
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wrote a really great book a really only<\/div>\n<\/div>\n<\/div>\n
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price pace you have to be very attentive<\/div>\n<\/div>\n<\/div>\n
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to what price action is doing rather<\/div>\n<\/div>\n<\/div>\n
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than trading a bias so Apple in this day<\/div>\n<\/div>\n<\/div>\n
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had another headline that was very<\/div>\n<\/div>\n<\/div>\n
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interesting<\/div>\n<\/div>\n<\/div>\n
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they got downgraded at Goldman Sachs<\/div>\n<\/div>\n<\/div>\n
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with a price target cut from 250 to 233<\/div>\n<\/div>\n<\/div>\n
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and the reason for that was because they<\/div>\n<\/div>\n<\/div>\n
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are modeling was showing that their<\/div>\n<\/div>\n<\/div>\n
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demand in the next year or so was going<\/div>\n<\/div>\n<\/div>\n
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to decline significantly so this was a<\/div>\n<\/div>\n<\/div>\n
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seemed like a pretty major report to me<\/div>\n<\/div>\n<\/div>\n
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from a Tier one Bank and it caused Apple<\/div>\n<\/div>\n<\/div>\n
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to gap down nearly 1 percent when the<\/div>\n<\/div>\n<\/div>\n
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whole market was gapping up now on the<\/div>\n<\/div>\n<\/div>\n
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open Apple’s our ball was very elevated<\/div>\n<\/div>\n<\/div>\n
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I included a picture of my our ball<\/div>\n<\/div>\n<\/div>\n
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filter that I use in the morning that<\/div>\n<\/div>\n<\/div>\n
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helps me see way<\/div>\n<\/div>\n<\/div>\n
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different stocks have our ball relative<\/div>\n<\/div>\n<\/div>\n
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to each other so this is for all large<\/div>\n<\/div>\n<\/div>\n
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cap stocks and you can see here Apple<\/div>\n<\/div>\n<\/div>\n
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was you know on this list it wasn’t at<\/div>\n<\/div>\n<\/div>\n
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the top at the fact that it made it on<\/div>\n<\/div>\n<\/div>\n
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this list provides me validation that<\/div>\n<\/div>\n<\/div>\n
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this is a good stock to be trading<\/div>\n<\/div>\n<\/div>\n
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because it’s gonna have a lot of volume<\/div>\n<\/div>\n<\/div>\n
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it’s going to be very in play and if it<\/div>\n<\/div>\n<\/div>\n
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was not on this list I would have been<\/div>\n<\/div>\n<\/div>\n
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far less inclined to to take the set up<\/div>\n<\/div>\n<\/div>\n
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so tell us what you’re trying to do<\/div>\n<\/div>\n<\/div>\n
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there with your article filter I want to<\/div>\n<\/div>\n<\/div>\n
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make sure that the idea that I’m trading<\/div>\n<\/div>\n<\/div>\n
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on the open is being confirmed with a<\/div>\n<\/div>\n<\/div>\n
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lot of volume so on any given day I may<\/div>\n<\/div>\n<\/div>\n
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have three or four ideas that I want to<\/div>\n<\/div>\n<\/div>\n
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look for to set up right and one of the<\/div>\n<\/div>\n<\/div>\n
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things I want to see with each of those<\/div>\n<\/div>\n<\/div>\n
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ideas is it’s doing a lot of our ball<\/div>\n<\/div>\n<\/div>\n
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because that shows me it’s going to<\/div>\n<\/div>\n<\/div>\n
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trade cleanly and it’s gonna it’s gonna<\/div>\n<\/div>\n<\/div>\n
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move a lot and so what I want to see on<\/div>\n<\/div>\n<\/div>\n
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this our boss our ball filter is I want<\/div>\n<\/div>\n<\/div>\n
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to be trading a name that that is in<\/div>\n<\/div>\n<\/div>\n
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that top 20 or top 30 our balls across<\/div>\n<\/div>\n<\/div>\n
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the entire market and I want to use this<\/div>\n<\/div>\n<\/div>\n
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also to help narrow my list of three or<\/div>\n<\/div>\n<\/div>\n
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four names of the open to one or two<\/div>\n<\/div>\n<\/div>\n
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names that way I can make sure that I’m<\/div>\n<\/div>\n<\/div>\n
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in the best name because because that’s<\/div>\n<\/div>\n<\/div>\n
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so important and in this month’s market<\/div>\n<\/div>\n<\/div>\n
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environment you know might be<\/div>\n<\/div>\n<\/div>\n
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interesting for you to do like what if<\/div>\n<\/div>\n<\/div>\n
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you were thinking about trading<\/div>\n<\/div>\n<\/div>\n
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something like AMD and then he took a<\/div>\n<\/div>\n<\/div>\n
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look at you may already do this already<\/div>\n<\/div>\n<\/div>\n
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so you do this already I apologize and I<\/div>\n<\/div>\n<\/div>\n
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suspect you’ve thought about this<\/div>\n<\/div>\n<\/div>\n
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perhaps but what happens if you think<\/div>\n<\/div>\n<\/div>\n
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about trading AMD on a particular day<\/div>\n<\/div>\n<\/div>\n
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\n
and you take a look at the SM H index<\/div>\n<\/div>\n<\/div>\n
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and you start to ask yourself I have an<\/div>\n<\/div>\n<\/div>\n
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idea that ambe’s gonna go up or down and<\/div>\n<\/div>\n<\/div>\n
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you start to compare and these are<\/div>\n<\/div>\n<\/div>\n
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evolved to the rest of the stocks in the<\/div>\n<\/div>\n<\/div>\n
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particular s mhm is that something<\/div>\n<\/div>\n<\/div>\n
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you’ve thought about that is something<\/div>\n<\/div>\n<\/div>\n
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I’ve thought about so I actually was<\/div>\n<\/div>\n<\/div>\n
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\n
trying to do that it with Apple a little<\/div>\n<\/div>\n<\/div>\n
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\n
bit today are on<\/div>\n<\/div>\n<\/div>\n
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\n
stay Apple I was trying to sift through<\/div>\n<\/div>\n<\/div>\n
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\n
other technology stocks on the list and<\/div>\n<\/div>\n<\/div>\n
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\n
the only two other technology stocks<\/div>\n<\/div>\n<\/div>\n
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\n
that I felt compared to my Apple idea<\/div>\n<\/div>\n<\/div>\n
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\n
that had higher our ball were Roku and<\/div>\n<\/div>\n<\/div>\n
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\n
Netflix on this day so I remember on<\/div>\n<\/div>\n<\/div>\n
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\n
this day going through those names and<\/div>\n<\/div>\n<\/div>\n
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\n
and trying to figure out whether I liked<\/div>\n<\/div>\n<\/div>\n
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\n
one of those names better than Apple and<\/div>\n<\/div>\n<\/div>\n
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\n
I ended up for going with Apple because<\/div>\n<\/div>\n<\/div>\n
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it had the catalyst and the others<\/div>\n<\/div>\n<\/div>\n
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\n
didn’t really have much reason to go<\/div>\n<\/div>\n<\/div>\n
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down but I think that’s a definitely a<\/div>\n<\/div>\n<\/div>\n
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very interesting idea and favoring them<\/div>\n<\/div>\n<\/div>\n
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the higher our ball name or favoring<\/div>\n<\/div>\n<\/div>\n
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something that has high are more<\/div>\n<\/div>\n<\/div>\n
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relative to the rest of its sector I<\/div>\n<\/div>\n<\/div>\n
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think is definitely a powerful idea some<\/div>\n<\/div>\n<\/div>\n
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\n
other stats about Apple 80 are about 11<\/div>\n<\/div>\n<\/div>\n
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\n
bucks it does a ton of average daily<\/div>\n<\/div>\n<\/div>\n
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volume 54 million shares and it’s a<\/div>\n<\/div>\n<\/div>\n
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\n
institutional stock it’s 16% follow up<\/div>\n<\/div>\n<\/div>\n
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\n
on that so what if you compared its<\/div>\n<\/div>\n<\/div>\n
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\n
arbel to the other fragments right I<\/div>\n<\/div>\n<\/div>\n
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\n
think that’s I think that’s the way to<\/div>\n<\/div>\n<\/div>\n
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do it I I was looking at I mean Apple<\/div>\n<\/div>\n<\/div>\n
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this day I know had the highest amongst<\/div>\n<\/div>\n<\/div>\n
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the other other thing names that I could<\/div>\n<\/div>\n<\/div>\n
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find<\/div>\n<\/div>\n<\/div>\n
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but I also think that there has to be a<\/div>\n<\/div>\n<\/div>\n
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\n
catalyst component as well I think it’s<\/div>\n<\/div>\n<\/div>\n
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it’s one of many variables but I think<\/div>\n<\/div>\n<\/div>\n
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having the highest \u00e1rbol under sectors<\/div>\n<\/div>\n<\/div>\n
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is a very very big check in favour if<\/div>\n<\/div>\n<\/div>\n
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you have the idea already that something<\/div>\n<\/div>\n<\/div>\n
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is going to move in in some particular<\/div>\n<\/div>\n<\/div>\n
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direction in this market condition and<\/div>\n<\/div>\n<\/div>\n
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\n
in April yeah good use of technology<\/div>\n<\/div>\n<\/div>\n
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\n
good I think that the institutional<\/div>\n<\/div>\n<\/div>\n
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\n
ownership was also important given the<\/div>\n<\/div>\n<\/div>\n
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\n
nature of the catalyst being at goldman<\/div>\n<\/div>\n<\/div>\n
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\n
sachs downgrade i think institutions<\/div>\n<\/div>\n<\/div>\n
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\n
look at that and maybe take it more<\/div>\n<\/div>\n<\/div>\n
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\n
seriously than if it were a stock with<\/div>\n<\/div>\n<\/div>\n
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less institutional ownership so i felt<\/div>\n<\/div>\n<\/div>\n
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\n
more comfortable trading a downgrade on<\/div>\n<\/div>\n<\/div>\n
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\n
Apple than I would say on something with<\/div>\n<\/div>\n<\/div>\n
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\n
a far smaller institutional ownership<\/div>\n<\/div>\n<\/div>\n
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\n
like a low flow my morning game plan for<\/div>\n<\/div>\n<\/div>\n
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\n
today really started with the spy<\/div>\n<\/div>\n<\/div>\n
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\n
because the spy was so in play on this<\/div>\n<\/div>\n<\/div>\n
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day with a gap up that was three and a<\/div>\n<\/div>\n<\/div>\n
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half percent but then came back down to<\/div>\n<\/div>\n<\/div>\n
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being only about two percent<\/div>\n<\/div>\n<\/div>\n
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\n
I had a pre market inflection level that<\/div>\n<\/div>\n<\/div>\n
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I really liked it was 285 50 and my plan<\/div>\n<\/div>\n<\/div>\n
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was that if the spy holds above that<\/div>\n<\/div>\n<\/div>\n
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\n
inflection level and ideally above you<\/div>\n<\/div>\n<\/div>\n
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\n
up then I want to be focusing on my best<\/div>\n<\/div>\n<\/div>\n
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\n
strong market stock idea and if it holds<\/div>\n<\/div>\n<\/div>\n
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\n
below and there’s clear weakness I want<\/div>\n<\/div>\n<\/div>\n
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\n
to be looking at my best weak market<\/div>\n<\/div>\n<\/div>\n
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\n
stock idea which was Apple if there’s if<\/div>\n<\/div>\n<\/div>\n
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\n
the spy direction– was not clear and we<\/div>\n<\/div>\n<\/div>\n
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were going to just consolidate within<\/div>\n<\/div>\n<\/div>\n
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this range I wasn’t too interested in<\/div>\n<\/div>\n<\/div>\n
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\n
playing this this relative strength<\/div>\n<\/div>\n<\/div>\n
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\n
relative weakness market setup in<\/div>\n<\/div>\n<\/div>\n
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\n
general so that was my plan going in for<\/div>\n<\/div>\n<\/div>\n
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\n
spy Apple had clear weakness it was<\/div>\n<\/div>\n<\/div>\n
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\n
actually down to nearly two and a half<\/div>\n<\/div>\n<\/div>\n
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\n
percent from where the pre market opened<\/div>\n<\/div>\n<\/div>\n
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\n
up and so my plan was I wanted to look<\/div>\n<\/div>\n<\/div>\n
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\n
for a setup just a standard gap down<\/div>\n<\/div>\n<\/div>\n
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\n
short set up on Apple if the market<\/div>\n<\/div>\n<\/div>\n
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\n
ended up turning weak that starts with<\/div>\n<\/div>\n<\/div>\n
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looking for a pop on the open looking<\/div>\n<\/div>\n<\/div>\n
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for that pop to turn getting short on<\/div>\n<\/div>\n<\/div>\n
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that turn small risk and then when it<\/div>\n<\/div>\n<\/div>\n
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finally goes through<\/div>\n<\/div>\n<\/div>\n
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\n
I want to be entering my full-size short<\/div>\n<\/div>\n<\/div>\n
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against against the high so that that’s<\/div>\n<\/div>\n<\/div>\n
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the main scenario I was looking for<\/div>\n<\/div>\n<\/div>\n
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\n
there were some other scenarios that I<\/div>\n<\/div>\n<\/div>\n
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\n
had in my head from prior GAAP down<\/div>\n<\/div>\n<\/div>\n
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\n
setups that I had studied you know I was<\/div>\n<\/div>\n<\/div>\n
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\n
also open to seeing consolidate on the<\/div>\n<\/div>\n<\/div>\n
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open and then breaking up or down<\/div>\n<\/div>\n<\/div>\n
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\n
there’s also a pattern where it drives<\/div>\n<\/div>\n<\/div>\n
\n
\n
upward and holds for thirty minutes to<\/div>\n<\/div>\n<\/div>\n
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\n
an hour and then consolidates and then<\/div>\n<\/div>\n<\/div>\n
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\n
breaks down you know what my least<\/div>\n<\/div>\n<\/div>\n
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\n
favorite scenario a where it drives<\/div>\n<\/div>\n<\/div>\n
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\n
downward immediately with an opening<\/div>\n<\/div>\n<\/div>\n
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drive and then consolidates and breaks<\/div>\n<\/div>\n<\/div>\n
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\n
down further and that scenario what I<\/div>\n<\/div>\n<\/div>\n
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\n
was planning to do was take smaller size<\/div>\n<\/div>\n<\/div>\n
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\n
on the opening drive because I’m not<\/div>\n<\/div>\n<\/div>\n
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\n
super comfortable with those opening<\/div>\n<\/div>\n<\/div>\n
\n
\n
drives and then traded to pull back into<\/div>\n<\/div>\n<\/div>\n
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\n
view up or the Viwa Perea try to ride<\/div>\n<\/div>\n<\/div>\n
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\n
the the move lower for that opening<\/div>\n<\/div>\n<\/div>\n
\n
\n
drive to the downside you really want a<\/div>\n<\/div>\n<\/div>\n
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\n
negative news catalyst that speaks to<\/div>\n<\/div>\n<\/div>\n
\n
\n
the fundamentals of the company speaks<\/div>\n<\/div>\n<\/div>\n
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\n
to the core of the business that<\/div>\n<\/div>\n<\/div>\n
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potentially would get me a little bit<\/div>\n<\/div>\n<\/div>\n
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\n
more comfortable playing an opening<\/div>\n<\/div>\n<\/div>\n
\n
\n
drive right at the beginning so I but I<\/div>\n<\/div>\n<\/div>\n
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\n
point to this is not that you should do<\/div>\n<\/div>\n<\/div>\n
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\n
that my point to that is you should in<\/div>\n<\/div>\n<\/div>\n
\n
\n
your in your mind think about what you<\/div>\n<\/div>\n<\/div>\n
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\n
want to see to get more comfortable<\/div>\n<\/div>\n<\/div>\n
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\n
taking out a little bit more risk with<\/div>\n<\/div>\n<\/div>\n
\n
\n
your your opening drives and and maybe<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a break of a important technical<\/div>\n<\/div>\n<\/div>\n
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\n
level<\/div>\n<\/div>\n<\/div>\n
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\n
maybe that’s what get you more<\/div>\n<\/div>\n<\/div>\n
\n
\n
comfortable maybe it is more of a<\/div>\n<\/div>\n<\/div>\n
\n
\n
fundamental news catalyst to get you<\/div>\n<\/div>\n<\/div>\n
\n
\n
more comfortable I don’t think it’s true<\/div>\n<\/div>\n<\/div>\n
\n
\n
that you feel uncomfortable every single<\/div>\n<\/div>\n<\/div>\n
\n
\n
opening drive I think if you think about<\/div>\n<\/div>\n<\/div>\n
\n
\n
it you’re more uncomfortable on the ones<\/div>\n<\/div>\n<\/div>\n
\n
\n
without a really good catalyst now if a<\/div>\n<\/div>\n<\/div>\n
\n
\n
words in your mouth<\/div>\n<\/div>\n<\/div>\n
\n
\n
no you’re right and I think what I<\/div>\n<\/div>\n<\/div>\n
\n
\n
didn’t like about the opening drive on<\/div>\n<\/div>\n<\/div>\n
\n
\n
this trade was that I wanted to see the<\/div>\n<\/div>\n<\/div>\n
\n
\n
weakness and spy on open first before<\/div>\n<\/div>\n<\/div>\n
\n
\n
taking Apple short and I didn’t feel if<\/div>\n<\/div>\n<\/div>\n
\n
\n
Apple<\/div>\n<\/div>\n<\/div>\n
\n
\n
one before spy I didn’t feel like I<\/div>\n<\/div>\n<\/div>\n
\n
\n
would have enough time to deter make the<\/div>\n<\/div>\n<\/div>\n
\n
\n
determination that Apple was was weak<\/div>\n<\/div>\n<\/div>\n
\n
\n
enough for the short but I also think<\/div>\n<\/div>\n<\/div>\n
\n
\n
having a level would have been helpful<\/div>\n<\/div>\n<\/div>\n
\n
\n
because I know that in my opening drives<\/div>\n<\/div>\n<\/div>\n
\n
\n
that I have been successful with very<\/div>\n<\/div>\n<\/div>\n
\n
\n
often it’s it’s through a level on B it<\/div>\n<\/div>\n<\/div>\n
\n
\n
like through green or through open or<\/div>\n<\/div>\n<\/div>\n
\n
\n
through a very big technical level I<\/div>\n<\/div>\n<\/div>\n
\n
\n
think that that’s that’s very often<\/div>\n<\/div>\n<\/div>\n
\n
\n
helpful for me as far as my execution<\/div>\n<\/div>\n<\/div>\n
\n
\n
strategy use 25 percent of the trades<\/div>\n<\/div>\n<\/div>\n
\n
\n
risk on turns with tight stops against<\/div>\n<\/div>\n<\/div>\n
\n
\n
the turn hi this is a big focus for me<\/div>\n<\/div>\n<\/div>\n
\n
\n
this month that’s something that’s more<\/div>\n<\/div>\n<\/div>\n
\n
\n
new to me because I’m not so you you’ve<\/div>\n<\/div>\n<\/div>\n
\n
\n
said the school times when you say use<\/div>\n<\/div>\n<\/div>\n
\n
\n
25 percent of the trades risk on turns<\/div>\n<\/div>\n<\/div>\n
\n
\n
when you’re using the word turns how<\/div>\n<\/div>\n<\/div>\n
\n
\n
weed finding that so turn I right now up<\/div>\n<\/div>\n<\/div>\n
\n
\n
my definition is pretty loose it’s so<\/div>\n<\/div>\n<\/div>\n
\n
\n
let’s say for the short it can be a like<\/div>\n<\/div>\n<\/div>\n
\n
\n
a read one-minute or two-minute candle<\/div>\n<\/div>\n<\/div>\n
\n
\n
it can be also when you have like a<\/div>\n<\/div>\n<\/div>\n
\n
\n
buyer that gets taken out like a bid<\/div>\n<\/div>\n<\/div>\n
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\n
that gets taken out with a lot of red<\/div>\n<\/div>\n<\/div>\n
\n
\n
prints and and it’s going up that’s also<\/div>\n<\/div>\n<\/div>\n
\n
\n
a turn to me and so when I when I see<\/div>\n<\/div>\n<\/div>\n
\n
\n
either that price action turn or that<\/div>\n<\/div>\n<\/div>\n
\n
\n
tape turn I my goal is to short with the<\/div>\n<\/div>\n<\/div>\n
\n
\n
tight stop against that whatever high<\/div>\n<\/div>\n<\/div>\n
\n
\n
was put in and that’s something that I<\/div>\n<\/div>\n<\/div>\n
\n
\n
am trying to be resilient with because<\/div>\n<\/div>\n<\/div>\n
\n
\n
it doesn’t work all the time sometimes I<\/div>\n<\/div>\n<\/div>\n
\n
\n
have to try it two or three times before<\/div>\n<\/div>\n<\/div>\n
\n
\n
I finally catch it but the risk reward<\/div>\n<\/div>\n<\/div>\n
\n
\n
when I finally do catch it is you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
it can be five to one or or even ten to<\/div>\n<\/div>\n<\/div>\n
\n
\n
one yeah I would just suspect that your<\/div>\n<\/div>\n<\/div>\n
\n
\n
performance is better and you have to<\/div>\n<\/div>\n<\/div>\n
\n
\n
measure this when you see that turn on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the tape as opposed to you see a turn on<\/div>\n<\/div>\n<\/div>\n
\n
\n
a one-minute chart with your candles yep<\/div>\n<\/div>\n<\/div>\n
\n
\n
it is it’s more clear it definitely is<\/div>\n<\/div>\n<\/div>\n
\n
\n
more clear when I see the buyer get<\/div>\n<\/div>\n<\/div>\n
\n
\n
taken out or maybe there’s a seller get<\/div>\n<\/div>\n<\/div>\n
\n
\n
taken out you can see the flood of red<\/div>\n<\/div>\n<\/div>\n
\n
\n
prints get I get put in or the flood of<\/div>\n<\/div>\n<\/div>\n
\n
\n
green prints get put in it’s generally<\/div>\n<\/div>\n<\/div>\n
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\n
more clear when I can see it on the tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
breeds open question to yourself which<\/div>\n<\/div>\n<\/div>\n
\n
\n
is should you be a little bit bigger<\/div>\n<\/div>\n<\/div>\n
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\n
starting the turns after you see it on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the tape well by what we mean by that is<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re watching the order flow watching<\/div>\n<\/div>\n<\/div>\n
\n
\n
the prints or what basically we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
watching where the stock is trading in<\/div>\n<\/div>\n<\/div>\n
\n
\n
real time and how that’s being reported<\/div>\n<\/div>\n<\/div>\n
\n
\n
to the marketplace and when you get good<\/div>\n<\/div>\n<\/div>\n
\n
\n
at reading the tape there are certain<\/div>\n<\/div>\n<\/div>\n
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\n
indications that give you a potential<\/div>\n<\/div>\n<\/div>\n
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\n
signal that a a move is about to occur<\/div>\n<\/div>\n<\/div>\n
\n
\n
so stocks going up going up going up<\/div>\n<\/div>\n<\/div>\n
\n
\n
going up going up going up it’s going up<\/div>\n<\/div>\n<\/div>\n
\n
\n
in a particular way you notice the<\/div>\n<\/div>\n<\/div>\n
\n
\n
buying pattern and now you notice that<\/div>\n<\/div>\n<\/div>\n
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\n
buying pattern disappear maybe you<\/div>\n<\/div>\n<\/div>\n
\n
\n
notice that buyer disappear and that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
an example of you seeing the turn on the<\/div>\n<\/div>\n<\/div>\n
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\n
tape I would suspect that with your<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading having a little bit more risk on<\/div>\n<\/div>\n<\/div>\n
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\n
when you see things like that would be<\/div>\n<\/div>\n<\/div>\n
\n
\n
more beneficial for yourself as opposed<\/div>\n<\/div>\n<\/div>\n
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\n
to it’s going up is going up sconce<\/div>\n<\/div>\n<\/div>\n
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\n
going that’s going up to go up go nuts<\/div>\n<\/div>\n<\/div>\n
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\n
go nuts going up and then you’re looking<\/div>\n<\/div>\n<\/div>\n
\n
\n
at your charts you know so hey this is a<\/div>\n<\/div>\n<\/div>\n
\n
\n
red candle here on my charts let me<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade against that hi not to suggest<\/div>\n<\/div>\n<\/div>\n
\n
\n
that can’t be something you turn into a<\/div>\n<\/div>\n<\/div>\n
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\n
good trade but but I would suspect that<\/div>\n<\/div>\n<\/div>\n
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\n
that isn’t as promising and that doesn’t<\/div>\n<\/div>\n<\/div>\n
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\n
deserve as much risk as the scenario I<\/div>\n<\/div>\n<\/div>\n
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\n
painted before and if that’s true that’s<\/div>\n<\/div>\n<\/div>\n
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\n
something for you to think about and<\/div>\n<\/div>\n<\/div>\n
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potential area for you to improve<\/div>\n<\/div>\n<\/div>\n
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absolutely absolutely I think using the<\/div>\n<\/div>\n<\/div>\n
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\n
tape that’s really the main focus for me<\/div>\n<\/div>\n<\/div>\n
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\n
I am still not entirely happy with my<\/div>\n<\/div>\n<\/div>\n
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\n
ability to identify the turn on the tape<\/div>\n<\/div>\n<\/div>\n
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\n
I think that’s really where I just need<\/div>\n<\/div>\n<\/div>\n
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\n
to be spending more time reviewing<\/div>\n<\/div>\n<\/div>\n
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\n
reviewing video and screen recording of<\/div>\n<\/div>\n<\/div>\n
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\n
my best trades and identifying okay here<\/div>\n<\/div>\n<\/div>\n
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\n
was a spot where I could have gotten<\/div>\n<\/div>\n<\/div>\n
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\n
really really big against a really tight<\/div>\n<\/div>\n<\/div>\n
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\n
stop and here’s why<\/div>\n<\/div>\n<\/div>\n
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\n
I could have done that here’s what<\/div>\n<\/div>\n<\/div>\n
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\n
exactly what I saw I think journaling<\/div>\n<\/div>\n<\/div>\n
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\n
journaling that has been helpful and I<\/div>\n<\/div>\n<\/div>\n
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\n
need to continue doing that as part of<\/div>\n<\/div>\n<\/div>\n
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\n
my routine I suspect that you probably<\/div>\n<\/div>\n<\/div>\n
\n
\n
can limit your trading to mostly those<\/div>\n<\/div>\n<\/div>\n
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\n
times when you actually do see the turn<\/div>\n<\/div>\n<\/div>\n
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\n
from the tape and limit to special<\/div>\n<\/div>\n<\/div>\n
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\n
occasions when you do it based on the<\/div>\n<\/div>\n<\/div>\n
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\n
charts and you’ll do a lot better can<\/div>\n<\/div>\n<\/div>\n
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\n
you do a lot better and when people talk<\/div>\n<\/div>\n<\/div>\n
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\n
about they want to use the tape and they<\/div>\n<\/div>\n<\/div>\n
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\n
need to get better at those skills<\/div>\n<\/div>\n<\/div>\n
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\n
there certainly are certain scenarios<\/div>\n<\/div>\n<\/div>\n
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\n
where you at this point can recognize<\/div>\n<\/div>\n<\/div>\n
\n
\n
when the tape has changed and when the<\/div>\n<\/div>\n<\/div>\n
\n
\n
turn is likely to have been shown to you<\/div>\n<\/div>\n<\/div>\n
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\n
that you can take you don’t have to<\/div>\n<\/div>\n<\/div>\n
\n
\n
totally worry about getting it right all<\/div>\n<\/div>\n<\/div>\n
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\n
the time you just have to you just have<\/div>\n<\/div>\n<\/div>\n
\n
\n
to begin considering can you see the<\/div>\n<\/div>\n<\/div>\n
\n
\n
turn a little bit more often than you<\/div>\n<\/div>\n<\/div>\n
\n
\n
had last week last month can you<\/div>\n<\/div>\n<\/div>\n
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\n
identify it turns you are comfortable<\/div>\n<\/div>\n<\/div>\n
\n
\n
with on the tape and taking those the<\/div>\n<\/div>\n<\/div>\n
\n
\n
more obvious ones for you then then<\/div>\n<\/div>\n<\/div>\n
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\n
necessarily worrying about getting all<\/div>\n<\/div>\n<\/div>\n
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\n
of them right absolutely I agree<\/div>\n<\/div>\n<\/div>\n
\n
\n
I completely agree and then beyond the<\/div>\n<\/div>\n<\/div>\n
\n
\n
turn for me when I see the breakdown<\/div>\n<\/div>\n<\/div>\n
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\n
through my my level that I’m working<\/div>\n<\/div>\n<\/div>\n
\n
\n
with with the trade on heavy volume with<\/div>\n<\/div>\n<\/div>\n
\n
\n
clear selling on the tape or clear<\/div>\n<\/div>\n<\/div>\n
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\n
buying on the tape that’s when I need to<\/div>\n<\/div>\n<\/div>\n
\n
\n
be full risk you know if I’m allocating<\/div>\n<\/div>\n<\/div>\n
\n
\n
a thousand dollars to the trade that’s<\/div>\n<\/div>\n<\/div>\n
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\n
where I need to be risk a thousand<\/div>\n<\/div>\n<\/div>\n
\n
\n
dollars and ideally no later because<\/div>\n<\/div>\n<\/div>\n
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\n
that’s usually you know as soon as I see<\/div>\n<\/div>\n<\/div>\n
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\n
that that’s my best price and that’s<\/div>\n<\/div>\n<\/div>\n
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\n
that’s the price I need to take it’s if<\/div>\n<\/div>\n<\/div>\n
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\n
I hesitate in that moment it it’s very<\/div>\n<\/div>\n<\/div>\n
\n
\n
easy to<\/div>\n<\/div>\n<\/div>\n
\n
\n
find yourself with a far worse entry<\/div>\n<\/div>\n<\/div>\n
\n
\n
less trades more size less trades more<\/div>\n<\/div>\n<\/div>\n
\n
\n
size<\/div>\n<\/div>\n<\/div>\n
\n
\n
yep on Apple on this setup you can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
did one of the scenarios I was thinking<\/div>\n<\/div>\n<\/div>\n
\n
\n
of it popped on the open and it quickly<\/div>\n<\/div>\n<\/div>\n
\n
\n
turned back to the downside<\/div>\n<\/div>\n<\/div>\n
\n
\n
back back with the pre-market trend I<\/div>\n<\/div>\n<\/div>\n
\n
\n
didn’t short here I think I should have<\/div>\n<\/div>\n<\/div>\n
\n
\n
shorted here before that turn my thought<\/div>\n<\/div>\n<\/div>\n
\n
\n
process was that I was watching the spy<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this moment and I wasn’t entirely<\/div>\n<\/div>\n<\/div>\n
\n
\n
sure if I wanted to be in the trade yet<\/div>\n<\/div>\n<\/div>\n
\n
\n
but I think seeing Apple give that turn<\/div>\n<\/div>\n<\/div>\n
\n
\n
on a higher ball what was enough for me<\/div>\n<\/div>\n<\/div>\n
\n
\n
to take that trade seeing that seeing<\/div>\n<\/div>\n<\/div>\n
\n
\n
that turn there I think that that was<\/div>\n<\/div>\n<\/div>\n
\n
\n
this was a great opportunity to enter an<\/div>\n<\/div>\n<\/div>\n
\n
\n
initial amount of risk against the turn<\/div>\n<\/div>\n<\/div>\n
\n
\n
hi<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then here was the breakdown you<\/div>\n<\/div>\n<\/div>\n
\n
\n
can’t see really the volume on the on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the volume chart just because there’s so<\/div>\n<\/div>\n<\/div>\n
\n
\n
much volume on the open but there was<\/div>\n<\/div>\n<\/div>\n
\n
\n
when Apple got below to the open that<\/div>\n<\/div>\n<\/div>\n
\n
\n
day<\/div>\n<\/div>\n<\/div>\n
\n
\n
it held two below it for for a second<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then as soon as it started to hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
it hold below it a big seller started<\/div>\n<\/div>\n<\/div>\n
\n
\n
coming in and they were just a big sell<\/div>\n<\/div>\n<\/div>\n
\n
\n
bricks getting thrown at the tape and it<\/div>\n<\/div>\n<\/div>\n
\n
\n
started flashing lower and lower so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a clear enough signal for me to<\/div>\n<\/div>\n<\/div>\n
\n
\n
enter full risk against the high for my<\/div>\n<\/div>\n<\/div>\n
\n
\n
position that Apple is going to go lower<\/div>\n<\/div>\n<\/div>\n
\n
\n
for at least the rest of the morning<\/div>\n<\/div>\n<\/div>\n
\n
\n
session and alongside that spy was also<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting sold below my inflection level<\/div>\n<\/div>\n<\/div>\n
\n
\n
and below you up so pairing those two<\/div>\n<\/div>\n<\/div>\n
\n
\n
variables together that was that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
really what made it clear to me that I<\/div>\n<\/div>\n<\/div>\n
\n
\n
need to be entering this trade and the<\/div>\n<\/div>\n<\/div>\n
\n
\n
fact that Apple was showing that first<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakdown through my open level that was<\/div>\n<\/div>\n<\/div>\n
\n
\n
the indication that okay this is the<\/div>\n<\/div>\n<\/div>\n
\n
\n
moment I need to be entering full risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
on this trade at least 25% of my daily<\/div>\n<\/div>\n<\/div>\n
\n
\n
stock because I’m seeing it you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s it’s just super important to do<\/div>\n<\/div>\n<\/div>\n
\n
\n
that here rather than waiting for like<\/div>\n<\/div>\n<\/div>\n
\n
\n
yesterday’s low<\/div>\n<\/div>\n<\/div>\n
\n
\n
pre-market low where I’ll get a bad<\/div>\n<\/div>\n<\/div>\n
\n
\n
price and the reward won’t be nearly as<\/div>\n<\/div>\n<\/div>\n
\n
\n
good question for you hmm<\/div>\n<\/div>\n<\/div>\n
\n
\n
in time after you grow after you get<\/div>\n<\/div>\n<\/div>\n
\n
\n
more experience is this the type of<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade where you could see yourself<\/div>\n<\/div>\n<\/div>\n
\n
\n
taking thirty thousand shares and being<\/div>\n<\/div>\n<\/div>\n
\n
\n
comfortable taking that trade absolutely<\/div>\n<\/div>\n<\/div>\n
\n
\n
I think if my you know my daily style<\/div>\n<\/div>\n<\/div>\n
\n
\n
was big enough I you know I would still<\/div>\n<\/div>\n<\/div>\n
\n
\n
want to be taking 25% of whatever my<\/div>\n<\/div>\n<\/div>\n
\n
\n
daily stop is in this moment and what I<\/div>\n<\/div>\n<\/div>\n
\n
\n
love about Apple is that I could I feel<\/div>\n<\/div>\n<\/div>\n
\n
\n
like I can take infinite size on this<\/div>\n<\/div>\n<\/div>\n
\n
\n
thing it’s so liquid that you know I’ve<\/div>\n<\/div>\n<\/div>\n
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\n
I think the highest I’ve gotten is is<\/div>\n<\/div>\n<\/div>\n
\n
\n
1,000 and there was zero slippage so<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah I feel like it’s very possible and<\/div>\n<\/div>\n<\/div>\n
\n
\n
very I could definitely see myself<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting 30,000 shares if I’m seeing all<\/div>\n<\/div>\n<\/div>\n
\n
\n
the variables align on a trade like this<\/div>\n<\/div>\n<\/div>\n
\n
\n
in a liquid name like this that’s my<\/div>\n<\/div>\n<\/div>\n
\n
\n
goal<\/div>\n<\/div>\n<\/div>\n
\n
\n
less trades more sighs good thing to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
thinking about my questions a good<\/div>\n<\/div>\n<\/div>\n
\n
\n
question for you to be thinking about to<\/div>\n<\/div>\n<\/div>\n
\n
\n
start to separate your scalps from your<\/div>\n<\/div>\n<\/div>\n
\n
\n
really good trades it’s fine to scalp<\/div>\n<\/div>\n<\/div>\n
\n
\n
around it’s fine to make cashflow<\/div>\n<\/div>\n<\/div>\n
\n
\n
scalping around when you’re thinking<\/div>\n<\/div>\n<\/div>\n
\n
\n
about building your play book when<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re thinking about building your<\/div>\n<\/div>\n<\/div>\n
\n
\n
business when you’re thinking about hey<\/div>\n<\/div>\n<\/div>\n
\n
\n
what’s it really gonna be what trades<\/div>\n<\/div>\n<\/div>\n
\n
\n
are gonna be really worth your time as<\/div>\n<\/div>\n<\/div>\n
\n
\n
you grow good question to ask yourself<\/div>\n<\/div>\n<\/div>\n
\n
\n
is you know when I’m bigger stronger<\/div>\n<\/div>\n<\/div>\n
\n
\n
better would I take 30,000 shares on<\/div>\n<\/div>\n<\/div>\n
\n
\n
that trade could I do that and if the<\/div>\n<\/div>\n<\/div>\n
\n
\n
answer is yes then now you’re on to a<\/div>\n<\/div>\n<\/div>\n
\n
\n
special trade now you’re on to something<\/div>\n<\/div>\n<\/div>\n
\n
\n
really worth studying now you’re on to a<\/div>\n<\/div>\n<\/div>\n
\n
\n
different type of trade less trades more<\/div>\n<\/div>\n<\/div>\n
\n
\n
sighs that is a way you’re gonna build<\/div>\n<\/div>\n<\/div>\n
\n
\n
that playbook to put together some big<\/div>\n<\/div>\n<\/div>\n
\n
\n
months so<\/div>\n<\/div>\n<\/div>\n
\n
\n
was an interesting moment for for Apple<\/div>\n<\/div>\n<\/div>\n
\n
\n
it actually formed a consolidation right<\/div>\n<\/div>\n<\/div>\n
\n
\n
under the open but above the pre-market<\/div>\n<\/div>\n<\/div>\n
\n
\n
low and that consolidation ended up<\/div>\n<\/div>\n<\/div>\n
\n
\n
showing the exact same breakdown pattern<\/div>\n<\/div>\n<\/div>\n
\n
\n
that was shown when it broke through the<\/div>\n<\/div>\n<\/div>\n
\n
\n
open and so this was for me a rare<\/div>\n<\/div>\n<\/div>\n
\n
\n
opportunity to double down on the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
which means in this opportunity with<\/div>\n<\/div>\n<\/div>\n
\n
\n
this breakdown I get to tighten my stop<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the trade I no longer need to use a<\/div>\n<\/div>\n<\/div>\n
\n
\n
level above the open because we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
breaking below pre market low I now can<\/div>\n<\/div>\n<\/div>\n
\n
\n
use a level above pre market low because<\/div>\n<\/div>\n<\/div>\n
\n
\n
I’m tightening my stop I’m now using<\/div>\n<\/div>\n<\/div>\n
\n
\n
less risk and so on this break down I<\/div>\n<\/div>\n<\/div>\n
\n
\n
get to add you know more sighs I get I<\/div>\n<\/div>\n<\/div>\n
\n
\n
can nearly double up on the trade and<\/div>\n<\/div>\n<\/div>\n
\n
\n
still be just risking the exact same<\/div>\n<\/div>\n<\/div>\n
\n
\n
amount that I was risking at the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so that’s that was something that I<\/div>\n<\/div>\n<\/div>\n
\n
\n
was working on in March and that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s what I did here where I have the<\/div>\n<\/div>\n<\/div>\n
\n
\n
arrow drawn I doubled my position on<\/div>\n<\/div>\n<\/div>\n
\n
\n
this break down tighten the stop and my<\/div>\n<\/div>\n<\/div>\n
\n
\n
target became roughly a measured move<\/div>\n<\/div>\n<\/div>\n
\n
\n
from the down move that was created from<\/div>\n<\/div>\n<\/div>\n
\n
\n
from the from the initial turn at the<\/div>\n<\/div>\n<\/div>\n
\n
\n
highs I think this was how I was able to<\/div>\n<\/div>\n<\/div>\n
\n
\n
make claw on the Strayed using this<\/div>\n<\/div>\n<\/div>\n
\n
\n
technique yeah really good point I<\/div>\n<\/div>\n<\/div>\n
\n
\n
tweeted about this and we did an<\/div>\n<\/div>\n<\/div>\n
\n
\n
Instagram video about this which comes<\/div>\n<\/div>\n<\/div>\n
\n
\n
from observing the Lee traders at our<\/div>\n<\/div>\n<\/div>\n
\n
\n
firm and some of the triggers that I<\/div>\n<\/div>\n<\/div>\n
\n
\n
coach outside the firm some of the best<\/div>\n<\/div>\n<\/div>\n
\n
\n
active traders are reaching new levels<\/div>\n<\/div>\n<\/div>\n
\n
\n
by taking less risk reducing stress<\/div>\n<\/div>\n<\/div>\n
\n
\n
lowering drawdown which is bringing<\/div>\n<\/div>\n<\/div>\n
\n
\n
better consistency and it seems<\/div>\n<\/div>\n<\/div>\n
\n
\n
counterintuitive and it’s against the<\/div>\n<\/div>\n<\/div>\n
\n
\n
mythologies that’s out there about how<\/div>\n<\/div>\n<\/div>\n
\n
\n
you become a big trader which tends to<\/div>\n<\/div>\n<\/div>\n
\n
\n
be holed through pain fight the price<\/div>\n<\/div>\n<\/div>\n
\n
\n
action increase your holding time<\/div>\n<\/div>\n<\/div>\n
\n
\n
predict if the markets gonna go up or<\/div>\n<\/div>\n<\/div>\n
\n
\n
down I’m seeing the<\/div>\n<\/div>\n<\/div>\n
\n
\n
best active traders work actively work<\/div>\n<\/div>\n<\/div>\n
\n
\n
intensively on reducing their stress<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’re literally trying during the day<\/div>\n<\/div>\n<\/div>\n
\n
\n
and these are some of the biggest active<\/div>\n<\/div>\n<\/div>\n
\n
\n
traders in the US huge P&L you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re not talking green shirt level<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re talking mid seven-figure traders<\/div>\n<\/div>\n<\/div>\n
\n
\n
mid seven-figure a year traders five<\/div>\n<\/div>\n<\/div>\n
\n
\n
million dollars a year plus traders<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’re not working on fighting the<\/div>\n<\/div>\n<\/div>\n
\n
\n
price action stomaching paying a little<\/div>\n<\/div>\n<\/div>\n
\n
\n
bit more increasing their holding time<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’re working on reducing their stress<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’re working on limiting their risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
and they’re in doing so guess what’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
happening they’re making more money so I<\/div>\n<\/div>\n<\/div>\n
\n
\n
love that you’re thinking about adding<\/div>\n<\/div>\n<\/div>\n
\n
\n
risk in a way that actually isn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
causing more pain taking on more risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
giving yourself more stress I’m not<\/div>\n<\/div>\n<\/div>\n
\n
\n
seeing the best active traders doing any<\/div>\n<\/div>\n<\/div>\n
\n
\n
of that I see them taking less risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
reducing their stress their stress<\/div>\n<\/div>\n<\/div>\n
\n
\n
lowering their drawdown proving their<\/div>\n<\/div>\n<\/div>\n
\n
\n
consistency and and and making more<\/div>\n<\/div>\n<\/div>\n
\n
\n
money that makes a lot of sense so this<\/div>\n<\/div>\n<\/div>\n
\n
\n
this three-hour consolidation a big dog<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidation ended up forming after<\/div>\n<\/div>\n<\/div>\n
\n
\n
that breakdown from free market low and<\/div>\n<\/div>\n<\/div>\n
\n
\n
so the way I executed this this part of<\/div>\n<\/div>\n<\/div>\n
\n
\n
the trade was once Apple hit that<\/div>\n<\/div>\n<\/div>\n
\n
\n
measured move target and clearly showed<\/div>\n<\/div>\n<\/div>\n
\n
\n
a high volume turn right in here I was<\/div>\n<\/div>\n<\/div>\n
\n
\n
out my entire position because Apple had<\/div>\n<\/div>\n<\/div>\n
\n
\n
gotten too nearly to the target that I<\/div>\n<\/div>\n<\/div>\n
\n
\n
was thinking of and also because it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
showing that turn against me and so I<\/div>\n<\/div>\n<\/div>\n
\n
\n
don’t want to be taking too much heat in<\/div>\n<\/div>\n<\/div>\n
\n
\n
this market I don’t be holding that much<\/div>\n<\/div>\n<\/div>\n
\n
\n
of a core so I ended up getting out all<\/div>\n<\/div>\n<\/div>\n
\n
\n
the position there and waiting for Apple<\/div>\n<\/div>\n<\/div>\n
\n
\n
to form a new set up where I could throw<\/div>\n<\/div>\n<\/div>\n
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a risk back on so what<\/div>\n<\/div>\n<\/div>\n
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ended up happening is it formed this<\/div>\n<\/div>\n<\/div>\n
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consolidation and my rule for<\/div>\n<\/div>\n<\/div>\n
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consolidations like this where I have a<\/div>\n<\/div>\n<\/div>\n
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hunch that it’s a continuation pattern<\/div>\n<\/div>\n<\/div>\n
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based on it having a strong strong down<\/div>\n<\/div>\n<\/div>\n
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move and then not very much not very<\/div>\n<\/div>\n<\/div>\n
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heavy by volume my idea or my rule is to<\/div>\n<\/div>\n<\/div>\n
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look two short turns near the highs of<\/div>\n<\/div>\n<\/div>\n
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the consolidation with again 25% of the<\/div>\n<\/div>\n<\/div>\n
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setups allocated risk I want to be small<\/div>\n<\/div>\n<\/div>\n
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enough to where I can try this multiple<\/div>\n<\/div>\n<\/div>\n
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times and when I see the breakdown of<\/div>\n<\/div>\n<\/div>\n
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that consolidation on volume that’s<\/div>\n<\/div>\n<\/div>\n
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where I want to be entering full risk<\/div>\n<\/div>\n<\/div>\n
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again against a tight stop within that<\/div>\n<\/div>\n<\/div>\n
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consolidation and so that’s what I<\/div>\n<\/div>\n<\/div>\n
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attempted to do here I shorted the lower<\/div>\n<\/div>\n<\/div>\n
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high here in this consolidation covered<\/div>\n<\/div>\n<\/div>\n
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some of the lows just to manage my risk<\/div>\n<\/div>\n<\/div>\n
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and then short it again here at the<\/div>\n<\/div>\n<\/div>\n
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highs and then I again this whole time<\/div>\n<\/div>\n<\/div>\n
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I’m staying very small so that I can try<\/div>\n<\/div>\n<\/div>\n
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this multiple times I think I got<\/div>\n<\/div>\n<\/div>\n
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stopped out on this one when it made a<\/div>\n<\/div>\n<\/div>\n
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new high here but then here down at the<\/div>\n<\/div>\n<\/div>\n
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lows when I start started to see the<\/div>\n<\/div>\n<\/div>\n
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breakdown and a big falling clearly<\/div>\n<\/div>\n<\/div>\n
\n
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started picking up on the tape that’s<\/div>\n<\/div>\n<\/div>\n
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where I hit the breakdown with my full<\/div>\n<\/div>\n<\/div>\n
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my full risk allocate or disposition<\/div>\n<\/div>\n<\/div>\n
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against the last lower high in the<\/div>\n<\/div>\n<\/div>\n
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pattern so you can see that it’s Apple<\/div>\n<\/div>\n<\/div>\n
\n
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ended up breaking down again once Apple<\/div>\n<\/div>\n<\/div>\n
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I ended up scaling out as Apple sir went<\/div>\n<\/div>\n<\/div>\n
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down and then once it overextended at<\/div>\n<\/div>\n<\/div>\n
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the lows and quickly reversed with you<\/div>\n<\/div>\n<\/div>\n
\n
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know another high-volume turn that’s<\/div>\n<\/div>\n<\/div>\n
\n
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where I was out the full move and I<\/div>\n<\/div>\n<\/div>\n
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think it’s very important to do that in<\/div>\n<\/div>\n<\/div>\n
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this market it’s just really important<\/div>\n<\/div>\n<\/div>\n
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not to take a lot of heat on these types<\/div>\n<\/div>\n<\/div>\n
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of trades because the market has such a<\/div>\n<\/div>\n<\/div>\n
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two-way tape and so things can reverse a<\/div>\n<\/div>\n<\/div>\n
\n
\n
lot more easily so here are my<\/div>\n<\/div>\n<\/div>\n
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executions this is where I double down<\/div>\n<\/div>\n<\/div>\n
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the position an area of improvement that<\/div>\n<\/div>\n<\/div>\n
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\n
I’m working on on these break down<\/div>\n<\/div>\n<\/div>\n
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trades is not doing this where I exit<\/div>\n<\/div>\n<\/div>\n
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kind of like every every point or so I<\/div>\n<\/div>\n<\/div>\n
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think I can do a better job looking for<\/div>\n<\/div>\n<\/div>\n
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a better reason to exit and also<\/div>\n<\/div>\n<\/div>\n
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\n
trailing a bit better two or three of<\/div>\n<\/div>\n<\/div>\n
\n
\n
these moments I could have actually just<\/div>\n<\/div>\n<\/div>\n
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\n
trailed against like the last one minute<\/div>\n<\/div>\n<\/div>\n
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high or given a 20<\/div>\n<\/div>\n<\/div>\n
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like a small 25 cent trailer and that<\/div>\n<\/div>\n<\/div>\n
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would have allowed me to to hold those<\/div>\n<\/div>\n<\/div>\n
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Lots for more of the full move so that’s<\/div>\n<\/div>\n<\/div>\n
\n
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not that’s something that I’m I’m<\/div>\n<\/div>\n<\/div>\n
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\n
working on far is my review I like my<\/div>\n<\/div>\n<\/div>\n
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stock selection here because Apple was<\/div>\n<\/div>\n<\/div>\n
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clearly relatively weak and also had<\/div>\n<\/div>\n<\/div>\n
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volume and also how to catalyst those<\/div>\n<\/div>\n<\/div>\n
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three things were really important my<\/div>\n<\/div>\n<\/div>\n
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execution I wish I showed it more on<\/div>\n<\/div>\n<\/div>\n
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that turn because I would have a on I<\/div>\n<\/div>\n<\/div>\n
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\n
turn on the open because that would have<\/div>\n<\/div>\n<\/div>\n
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allowed me to get bigger on the<\/div>\n<\/div>\n<\/div>\n
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breakdown through the open on the same<\/div>\n<\/div>\n<\/div>\n
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amount of risk because my entry would<\/div>\n<\/div>\n<\/div>\n
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\n
just be higher I think I should have<\/div>\n<\/div>\n<\/div>\n
\n
\n
been more aggressive and that could saw<\/div>\n<\/div>\n<\/div>\n
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\n
that BigDog consolidation I need to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
studying those terms a little bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
and getting more comfortable with<\/div>\n<\/div>\n<\/div>\n
\n
\n
scalping in and out of those I think<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s a it’s a big goldmine and then as<\/div>\n<\/div>\n<\/div>\n
\n
\n
far as the exit just trailing I that’s<\/div>\n<\/div>\n<\/div>\n
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something that I should have done on<\/div>\n<\/div>\n<\/div>\n
\n
\n
this on the street I was very quick to<\/div>\n<\/div>\n<\/div>\n
\n
\n
get out a lot of the size and part of<\/div>\n<\/div>\n<\/div>\n
\n
\n
that was because I was somewhat<\/div>\n<\/div>\n<\/div>\n
\n
\n
uncomfortable with how many shares I had<\/div>\n<\/div>\n<\/div>\n
\n
\n
I think it was the biggest I had been on<\/div>\n<\/div>\n<\/div>\n
\n
\n
Apple ever on this day just because I<\/div>\n<\/div>\n<\/div>\n
\n
\n
double down but in reality my risk was<\/div>\n<\/div>\n<\/div>\n
\n
\n
still controlled you know there wasn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
much need to do stress about about my<\/div>\n<\/div>\n<\/div>\n
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\n
size it was the same amount of risk as I<\/div>\n<\/div>\n<\/div>\n
\n
\n
had initially hey go ahead and click our<\/div>\n<\/div>\n<\/div>\n
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subscribe button so you don’t miss any<\/div>\n<\/div>\n<\/div>\n
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of the videos they were producing for<\/div>\n<\/div>\n<\/div>\n
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you in the trading community and please<\/div>\n<\/div>\n<\/div>\n
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\n
take the time to add your feedback in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the comment section for what videos<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’d like for us to produce next and<\/div>\n<\/div>\n<\/div>\n
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what you found helpful from this video<\/div>\n<\/div>\n<\/div>\n
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from all of us at SMB train and trade<\/div>\n<\/div>\n<\/div>\n
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well<\/div>\n<\/div>\n<\/div>\n
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\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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

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

In this video learn how elite proprietary traders are taking fewer trades with more size and risk and achieving even larger profits. 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