{"id":49883,"date":"2020-05-21T16:00:49","date_gmt":"2020-05-21T20:00:49","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=49883"},"modified":"2020-05-21T16:00:49","modified_gmt":"2020-05-21T20:00:49","slug":"one-bad-trade-a-new-trader-education-video-series","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/one-bad-trade-a-new-trader-education-video-series","title":{"rendered":"One Bad Trade (a new trader education video series)"},"content":{"rendered":"

Learn how a junior trader from our desk made One Bad Trade in our new trader education videos series. See how a junior trader absolutely had the right idea about where a stock was headed but still lost money because of poor entries and exits.<\/p>\nView Video Transcript<\/strong><\/span>

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learn how a junior trader from our desk<\/div>\n<\/div>\n<\/div>\n
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made one bad trade in our new trader<\/div>\n<\/div>\n<\/div>\n
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education video series hi I’m Mike<\/div>\n<\/div>\n<\/div>\n
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bellifiore co-founder of SME capital and<\/div>\n<\/div>\n<\/div>\n
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we’re a proprietary trading firm located<\/div>\n<\/div>\n<\/div>\n
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in midtown Manhattan and I’m also the<\/div>\n<\/div>\n<\/div>\n
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author of the trading classic one good<\/div>\n<\/div>\n<\/div>\n
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trade and the playbook 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’re producing for you<\/div>\n<\/div>\n<\/div>\n
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in the trading community see how a<\/div>\n<\/div>\n<\/div>\n
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junior trader absolutely had the right<\/div>\n<\/div>\n<\/div>\n
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idea about where a stock was headed but<\/div>\n<\/div>\n<\/div>\n
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still lost money because of poor entries<\/div>\n<\/div>\n<\/div>\n
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and exits let’s dive in so this is my<\/div>\n<\/div>\n<\/div>\n
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trade yesterday and no of X it’s the<\/div>\n<\/div>\n<\/div>\n
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anti playbook that you asked us to put<\/div>\n<\/div>\n<\/div>\n
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together this is the view opera<\/div>\n<\/div>\n<\/div>\n
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tradesmen trade in a low flow stock<\/div>\n<\/div>\n<\/div>\n
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that’s gotten overextended over the last<\/div>\n<\/div>\n<\/div>\n
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like two three months the antipodal<\/div>\n<\/div>\n<\/div>\n
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trade is something that we’re trying for<\/div>\n<\/div>\n<\/div>\n
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the first time ever so there have been<\/div>\n<\/div>\n<\/div>\n
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lots of people who suggested that we<\/div>\n<\/div>\n<\/div>\n
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actually do this and I know that a lot<\/div>\n<\/div>\n<\/div>\n
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of people do this in their head or on<\/div>\n<\/div>\n<\/div>\n
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the side but really this is the first<\/div>\n<\/div>\n<\/div>\n
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time that we’re actually doing this<\/div>\n<\/div>\n<\/div>\n
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internally and sharing with each other<\/div>\n<\/div>\n<\/div>\n
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and the idea is there’s a couple<\/div>\n<\/div>\n<\/div>\n
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different ways to get better but one of<\/div>\n<\/div>\n<\/div>\n
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the significant ways to get better is to<\/div>\n<\/div>\n<\/div>\n
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understand trades that you do not trade<\/div>\n<\/div>\n<\/div>\n
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well and to internalize that to put them<\/div>\n<\/div>\n<\/div>\n
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down in variables to create as you say<\/div>\n<\/div>\n<\/div>\n
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an anti playbook for them and then<\/div>\n<\/div>\n<\/div>\n
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there’s bad trading<\/div>\n<\/div>\n<\/div>\n
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there’s taking maybe trades in your<\/div>\n<\/div>\n<\/div>\n
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playbook but not necessarily executing<\/div>\n<\/div>\n<\/div>\n
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them well or flubbing them a little bit<\/div>\n<\/div>\n<\/div>\n
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but the idea is the way for us to get<\/div>\n<\/div>\n<\/div>\n
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better as traders is yes to build from<\/div>\n<\/div>\n<\/div>\n
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what we do well to build a playbook to<\/div>\n<\/div>\n<\/div>\n
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understand what our a plus trades are to<\/div>\n<\/div>\n<\/div>\n
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grow from them but then also to<\/div>\n<\/div>\n<\/div>\n
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understand what’s keeping us back and if<\/div>\n<\/div>\n<\/div>\n
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we<\/div>\n<\/div>\n<\/div>\n
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just eliminate or get better at<\/div>\n<\/div>\n<\/div>\n
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eliminating the trades that we don’t<\/div>\n<\/div>\n<\/div>\n
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trade well the trades we shouldn’t be<\/div>\n<\/div>\n<\/div>\n
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taking or we should just be getting rid<\/div>\n<\/div>\n<\/div>\n
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of them they should be we should rid<\/div>\n<\/div>\n<\/div>\n
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them from our results we can make<\/div>\n<\/div>\n<\/div>\n
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significant progress and so this is our<\/div>\n<\/div>\n<\/div>\n
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first step<\/div>\n<\/div>\n<\/div>\n
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seeing what that’s like internally and<\/div>\n<\/div>\n<\/div>\n
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then seeing on how they can help us so<\/div>\n<\/div>\n<\/div>\n
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all right<\/div>\n<\/div>\n<\/div>\n
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and backs what do you got so bigger<\/div>\n<\/div>\n<\/div>\n
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picture we obviously know what happened<\/div>\n<\/div>\n<\/div>\n
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with the the actual spy we had that<\/div>\n<\/div>\n<\/div>\n
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aggressive sell-off of the bottom and a<\/div>\n<\/div>\n<\/div>\n
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lot of people trying to short the pops<\/div>\n<\/div>\n<\/div>\n
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on the way up you have people like<\/div>\n<\/div>\n<\/div>\n
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unlock and everybody’s saying that we’re<\/div>\n<\/div>\n<\/div>\n
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getting super overvalued and everything<\/div>\n<\/div>\n<\/div>\n
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like that but there was really no retest<\/div>\n<\/div>\n<\/div>\n
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of the lows like everybody was expecting<\/div>\n<\/div>\n<\/div>\n
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which kind of created almost an<\/div>\n<\/div>\n<\/div>\n
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environment where shorts were getting<\/div>\n<\/div>\n<\/div>\n
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trapped in this China short a bear<\/div>\n<\/div>\n<\/div>\n
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market rally which is one of the<\/div>\n<\/div>\n<\/div>\n
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toughest things ever and we started to<\/div>\n<\/div>\n<\/div>\n
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consolidate the priorities into kind of<\/div>\n<\/div>\n<\/div>\n
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a range and we were actually gapping up<\/div>\n<\/div>\n<\/div>\n
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on this day in the actual spies on news<\/div>\n<\/div>\n<\/div>\n
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of a vaccine so just some of the<\/div>\n<\/div>\n<\/div>\n
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intraday fundamentals to novo vac so<\/div>\n<\/div>\n<\/div>\n
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I’ll get to the chart after but it’s a<\/div>\n<\/div>\n<\/div>\n
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late stage biotech company focusing on<\/div>\n<\/div>\n<\/div>\n
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the development commercialization of<\/div>\n<\/div>\n<\/div>\n
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vaccines so basically a lot of people<\/div>\n<\/div>\n<\/div>\n
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were betting that this stock I consider<\/div>\n<\/div>\n<\/div>\n
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it a low float the float is about 50<\/div>\n<\/div>\n<\/div>\n
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million though they were basically<\/div>\n<\/div>\n<\/div>\n
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betting that this stock was going to be<\/div>\n<\/div>\n<\/div>\n
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here this company was going to be the<\/div>\n<\/div>\n<\/div>\n
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one that actually cured the virus the<\/div>\n<\/div>\n<\/div>\n
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corona virus so they they basically had<\/div>\n<\/div>\n<\/div>\n
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that a first first initial leg up a lot<\/div>\n<\/div>\n<\/div>\n
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of people are shorting in here like the<\/div>\n<\/div>\n<\/div>\n
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20s and everything like that then they<\/div>\n<\/div>\n<\/div>\n
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came out and had earnings on this day<\/div>\n<\/div>\n<\/div>\n
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where they actually announced they were<\/div>\n<\/div>\n<\/div>\n
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getting funding from a non-profit that<\/div>\n<\/div>\n<\/div>\n
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originally invested about four million<\/div>\n<\/div>\n<\/div>\n
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dollars but they were investing initial<\/div>\n<\/div>\n<\/div>\n
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384 million dollars which is the biggest<\/div>\n<\/div>\n<\/div>\n
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factor<\/div>\n<\/div>\n<\/div>\n
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in this and then after that we kind of<\/div>\n<\/div>\n<\/div>\n
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consolidated in here you know a lot of<\/div>\n<\/div>\n<\/div>\n
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shorts this is becoming an extremely<\/div>\n<\/div>\n<\/div>\n
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crowded trade shorting these low floats<\/div>\n<\/div>\n<\/div>\n
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especially with so many new accounts<\/div>\n<\/div>\n<\/div>\n
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opening up and basically what happened<\/div>\n<\/div>\n<\/div>\n
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was we kind of just consolidated we<\/div>\n<\/div>\n<\/div>\n
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didn’t get that real crack down to $40<\/div>\n<\/div>\n<\/div>\n
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and then about three or four days after<\/div>\n<\/div>\n<\/div>\n
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the earnings we gapped up on it was like<\/div>\n<\/div>\n<\/div>\n
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an upgrade from I think like B Reilly<\/div>\n<\/div>\n<\/div>\n
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just some lower tier firm and we really<\/div>\n<\/div>\n<\/div>\n
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had a run up but the biggest thing for<\/div>\n<\/div>\n<\/div>\n
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me that I that got me interested even<\/div>\n<\/div>\n<\/div>\n
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more so in the short was kind of just<\/div>\n<\/div>\n<\/div>\n
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the volume dying off obviously we had a<\/div>\n<\/div>\n<\/div>\n
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ton of volume almost every single day<\/div>\n<\/div>\n<\/div>\n
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that the flow was being exchanged but<\/div>\n<\/div>\n<\/div>\n
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you could see compared to like the day<\/div>\n<\/div>\n<\/div>\n
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of the earnings the volumes really<\/div>\n<\/div>\n<\/div>\n
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starting to die off so I’m starting to<\/div>\n<\/div>\n<\/div>\n
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think maybe this thing’s losing steam<\/div>\n<\/div>\n<\/div>\n
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just losing buyers and that’s kind of my<\/div>\n<\/div>\n<\/div>\n
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fundamental thesis behind it this is the<\/div>\n<\/div>\n<\/div>\n
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first day the original day that it<\/div>\n<\/div>\n<\/div>\n
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gapped up you can see that it kind of<\/div>\n<\/div>\n<\/div>\n
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popped and just held this V wop area so<\/div>\n<\/div>\n<\/div>\n
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what I like to do on these low floats is<\/div>\n<\/div>\n<\/div>\n
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I like to wait for it to get below this<\/div>\n<\/div>\n<\/div>\n
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area to start like a really higher<\/div>\n<\/div>\n<\/div>\n
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timeframe unwind and that’s that’s where<\/div>\n<\/div>\n<\/div>\n
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I would use like my playbook for like<\/div>\n<\/div>\n<\/div>\n
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Viwa por tres mins and all of those<\/div>\n<\/div>\n<\/div>\n
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playbook trades that I use when they get<\/div>\n<\/div>\n<\/div>\n
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below a significant intraday or daily<\/div>\n<\/div>\n<\/div>\n
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level 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 the actual setup here how I<\/div>\n<\/div>\n<\/div>\n
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trade it is I really just look for the<\/div>\n<\/div>\n<\/div>\n
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unwind zone to<\/div>\n<\/div>\n<\/div>\n
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and a break it gets below that 56 $55<\/div>\n<\/div>\n<\/div>\n
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area you see some real volume come in<\/div>\n<\/div>\n<\/div>\n
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and then it bounces back into view up<\/div>\n<\/div>\n<\/div>\n
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and when I fade things into view up I<\/div>\n<\/div>\n<\/div>\n
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kind of like to wait from sellers to<\/div>\n<\/div>\n<\/div>\n
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take control so for me I define that as<\/div>\n<\/div>\n<\/div>\n
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kind of just breaking the trend line<\/div>\n<\/div>\n<\/div>\n
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making a significant lower high which<\/div>\n<\/div>\n<\/div>\n
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you could see it kind of did in here<\/div>\n<\/div>\n<\/div>\n
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this is really the first signal that<\/div>\n<\/div>\n<\/div>\n
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sellers were taking control back into<\/div>\n<\/div>\n<\/div>\n
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view out which is how I like to put on a<\/div>\n<\/div>\n<\/div>\n
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view opera trace in for a trade to hold<\/div>\n<\/div>\n<\/div>\n
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so when it makes a lower high Kyle that<\/div>\n<\/div>\n<\/div>\n
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to you signifies that the sellers are in<\/div>\n<\/div>\n<\/div>\n
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control yeah sometimes I get on the<\/div>\n<\/div>\n<\/div>\n
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chart yeah it’s right in here so you<\/div>\n<\/div>\n<\/div>\n
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could see it’s kind of it bounces back<\/div>\n<\/div>\n<\/div>\n
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and then it has a trend line coming up<\/div>\n<\/div>\n<\/div>\n
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into view up and then once you really<\/div>\n<\/div>\n<\/div>\n
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start to get that first consolidation<\/div>\n<\/div>\n<\/div>\n
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and then a lower high put in right<\/div>\n<\/div>\n<\/div>\n
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around here that’s where I really start<\/div>\n<\/div>\n<\/div>\n
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to think the sellers took back control<\/div>\n<\/div>\n<\/div>\n
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into view up and that’s what I like to<\/div>\n<\/div>\n<\/div>\n
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get involved and you know that strikes<\/div>\n<\/div>\n<\/div>\n
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me as a trade decision by you so other<\/div>\n<\/div>\n<\/div>\n
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traders are gonna short based on price<\/div>\n<\/div>\n<\/div>\n
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interview ah<\/div>\n<\/div>\n<\/div>\n
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if you certain type of traders are going<\/div>\n<\/div>\n<\/div>\n
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to when they see the weakness when they<\/div>\n<\/div>\n<\/div>\n
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see the breakdown when it pops back up<\/div>\n<\/div>\n<\/div>\n
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they’re just gonna shore it into the pot<\/div>\n<\/div>\n<\/div>\n
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they maybe even scaling into view wow<\/div>\n<\/div>\n<\/div>\n
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that’s one strategy you can make into<\/div>\n<\/div>\n<\/div>\n
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becoming a successful back side trader<\/div>\n<\/div>\n<\/div>\n
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and then other traders what they do is<\/div>\n<\/div>\n<\/div>\n
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they wait for it to come near Viwa and<\/div>\n<\/div>\n<\/div>\n
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they’ve hone in on the tape<\/div>\n<\/div>\n<\/div>\n
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they are highly attentive to the tape<\/div>\n<\/div>\n<\/div>\n
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and they look for the sellers from the<\/div>\n<\/div>\n<\/div>\n
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tape to be in control and when they<\/div>\n<\/div>\n<\/div>\n
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start to see the sellers in control and<\/div>\n<\/div>\n<\/div>\n
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that’s below vie whop after the break<\/div>\n<\/div>\n<\/div>\n
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down into the retracement near view op<\/div>\n<\/div>\n<\/div>\n
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when they see the sellers winning on the<\/div>\n<\/div>\n<\/div>\n
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tape and it confirming on the tape that<\/div>\n<\/div>\n<\/div>\n
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were more likely to go down boom they’re<\/div>\n<\/div>\n<\/div>\n
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gonna hit it hard and be really<\/div>\n<\/div>\n<\/div>\n
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aggressive and what you’re doing here is<\/div>\n<\/div>\n<\/div>\n
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you’re saying along the type of trader<\/div>\n<\/div>\n<\/div>\n
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that wants to see it show me the<\/div>\n<\/div>\n<\/div>\n
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weakness<\/div>\n<\/div>\n<\/div>\n
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near via WAP I’m the type of trader who<\/div>\n<\/div>\n<\/div>\n
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wants to see technically based on my<\/div>\n<\/div>\n<\/div>\n
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technical analysis skills that it’s<\/div>\n<\/div>\n<\/div>\n
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showing me the weakness which which is<\/div>\n<\/div>\n<\/div>\n
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great and I’ll wait for that and that’s<\/div>\n<\/div>\n<\/div>\n
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gonna be my signal and I would assume<\/div>\n<\/div>\n<\/div>\n
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you’re gonna cover that against the<\/div>\n<\/div>\n<\/div>\n
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against the top or above the you op and<\/div>\n<\/div>\n<\/div>\n
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and give that a wrong based on a<\/div>\n<\/div>\n<\/div>\n
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technical entry that makes sense<\/div>\n<\/div>\n<\/div>\n
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is that about is that a fair description<\/div>\n<\/div>\n<\/div>\n
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of what you’re looking for yeah<\/div>\n<\/div>\n<\/div>\n
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definitely I’ve I’ve tried kind of<\/div>\n<\/div>\n<\/div>\n
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fading interview op it it just doesn’t<\/div>\n<\/div>\n<\/div>\n
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work for me I really like to see the<\/div>\n<\/div>\n<\/div>\n
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actual turn get put in before I like to<\/div>\n<\/div>\n<\/div>\n
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get involved so here my actual trade<\/div>\n<\/div>\n<\/div>\n
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executions this is a two-minute chart<\/div>\n<\/div>\n<\/div>\n
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but so like I said as soon as I start to<\/div>\n<\/div>\n<\/div>\n
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kind of see the turn I start putting in<\/div>\n<\/div>\n<\/div>\n
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kind of feeler positions risking like a<\/div>\n<\/div>\n<\/div>\n
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hold above this level and then when it<\/div>\n<\/div>\n<\/div>\n
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actually confirms you see a little bit<\/div>\n<\/div>\n<\/div>\n
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spike in volume that a lower high I like<\/div>\n<\/div>\n<\/div>\n
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to put on my full position your exit is<\/div>\n<\/div>\n<\/div>\n
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a hold above you up yeah is it your exit<\/div>\n<\/div>\n<\/div>\n
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a wick above you up or it’s a price and<\/div>\n<\/div>\n<\/div>\n
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time above you up no it’s it’s not a<\/div>\n<\/div>\n<\/div>\n
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wick of a view up it’s more of like a<\/div>\n<\/div>\n<\/div>\n
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price in time so I like kind of like<\/div>\n<\/div>\n<\/div>\n
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watch the wick I’m I usually take off at<\/div>\n<\/div>\n<\/div>\n
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least half of my ad over the lower high<\/div>\n<\/div>\n<\/div>\n
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if it holds above that and then I get<\/div>\n<\/div>\n<\/div>\n
\n
\n
totally flat so I’ll usually like let it<\/div>\n<\/div>\n<\/div>\n
\n
\n
wick I’ll see where wicks up to how the<\/div>\n<\/div>\n<\/div>\n
\n
\n
how that’s being reacted to relative to<\/div>\n<\/div>\n<\/div>\n
\n
\n
the regular price action you know if the<\/div>\n<\/div>\n<\/div>\n
\n
\n
wick is like super extended then I might<\/div>\n<\/div>\n<\/div>\n
\n
\n
just cut it if it kind of just wicks up<\/div>\n<\/div>\n<\/div>\n
\n
\n
for a couple seconds then comes back<\/div>\n<\/div>\n<\/div>\n
\n
\n
under I’ll probably keep it so your<\/div>\n<\/div>\n<\/div>\n
\n
\n
thought process there is I’m gonna cut<\/div>\n<\/div>\n<\/div>\n
\n
\n
at least half of it because the thesis<\/div>\n<\/div>\n<\/div>\n
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\n
is if the trades gonna work it should<\/div>\n<\/div>\n<\/div>\n
\n
\n
work right away it’s not working right<\/div>\n<\/div>\n<\/div>\n
\n
\n
away my entry thesis is in this correct<\/div>\n<\/div>\n<\/div>\n
\n
\n
as I thought let me cut half<\/div>\n<\/div>\n<\/div>\n
\n
\n
let me get out of the hole of its<\/div>\n<\/div>\n<\/div>\n
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\n
holding above you up is that how you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking at it yeah yeah exactly and that<\/div>\n<\/div>\n<\/div>\n
\n
\n
was actually part of my mistake in this<\/div>\n<\/div>\n<\/div>\n
\n
\n
I got down to half on this wick up here<\/div>\n<\/div>\n<\/div>\n
\n
\n
when it really never showed that I was<\/div>\n<\/div>\n<\/div>\n
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\n
holding up in here that in this area<\/div>\n<\/div>\n<\/div>\n
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\n
like I said I really need to let it show<\/div>\n<\/div>\n<\/div>\n
\n
\n
me that it’s holding above like this $56<\/div>\n<\/div>\n<\/div>\n
\n
\n
area to get out of that half position<\/div>\n<\/div>\n<\/div>\n
\n
\n
that full position that I’m taking out<\/div>\n<\/div>\n<\/div>\n
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\n
and then I actually I realized that I<\/div>\n<\/div>\n<\/div>\n
\n
\n
messed that up so I hit in and I got<\/div>\n<\/div>\n<\/div>\n
\n
\n
back to full size and it kind of ruined<\/div>\n<\/div>\n<\/div>\n
\n
\n
my price so I ended up just having to<\/div>\n<\/div>\n<\/div>\n
\n
\n
get out of that and that was kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
just a mistake that I’ve been making<\/div>\n<\/div>\n<\/div>\n
\n
\n
recently all right let’s talk about that<\/div>\n<\/div>\n<\/div>\n
\n
\n
so yeah and that’s why I asked you about<\/div>\n<\/div>\n<\/div>\n
\n
\n
what your exit is because look some<\/div>\n<\/div>\n<\/div>\n
\n
\n
people are gonna say hey I’m going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
get out just based on price and some<\/div>\n<\/div>\n<\/div>\n
\n
\n
people are gonna say no my exit is price<\/div>\n<\/div>\n<\/div>\n
\n
\n
and time and you want to know which one<\/div>\n<\/div>\n<\/div>\n
\n
\n
you want what what your reason is for<\/div>\n<\/div>\n<\/div>\n
\n
\n
how you’re getting out if you’re gonna<\/div>\n<\/div>\n<\/div>\n
\n
\n
be more of a swing trader if you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna be more of a selective trader<\/div>\n<\/div>\n<\/div>\n
\n
\n
price and time is a better way for you<\/div>\n<\/div>\n<\/div>\n
\n
\n
to get out I think a couple other things<\/div>\n<\/div>\n<\/div>\n
\n
\n
that you want to be thinking about in<\/div>\n<\/div>\n<\/div>\n
\n
\n
this trade as well is it’s crowded right<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah stuff there’s a lot of it yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s lots of people trading this and<\/div>\n<\/div>\n<\/div>\n
\n
\n
what part of what you need to sign up<\/div>\n<\/div>\n<\/div>\n
\n
\n
for for your swing trade is how you<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna deal with a wick that may mean<\/div>\n<\/div>\n<\/div>\n
\n
\n
nothing are you gonna save some risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
allocation for if that happens you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
are you going to upon entry be a little<\/div>\n<\/div>\n<\/div>\n
\n
\n
bit smaller and give yourself a little<\/div>\n<\/div>\n<\/div>\n
\n
\n
bit more of a stop because it’s crowded<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it can be Wiki also there’s a<\/div>\n<\/div>\n<\/div>\n
\n
\n
shortage of interest in this name<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s it’s also in a sector that<\/div>\n<\/div>\n<\/div>\n
\n
\n
everybody’s trading right now that a lot<\/div>\n<\/div>\n<\/div>\n
\n
\n
of people are trading right I shouldn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
say everybody’s trading right now that a<\/div>\n<\/div>\n<\/div>\n
\n
\n
lot of people are very interested in<\/div>\n<\/div>\n<\/div>\n
\n
\n
right now<\/div>\n<\/div>\n<\/div>\n
\n
\n
hot sector and so and it’s been and it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
done really well for a while now so<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’ve got people who are gonna try and<\/div>\n<\/div>\n<\/div>\n
\n
\n
support it and keep this to keep the<\/div>\n<\/div>\n<\/div>\n
\n
\n
stock up so you want to be thinking<\/div>\n<\/div>\n<\/div>\n
\n
\n
about that going along and so yeah I<\/div>\n<\/div>\n<\/div>\n
\n
\n
mean an example of you not trading at<\/div>\n<\/div>\n<\/div>\n
\n
\n
your best is you not sticking to your<\/div>\n<\/div>\n<\/div>\n
\n
\n
exit plan which is time and price not<\/div>\n<\/div>\n<\/div>\n
\n
\n
just price yeah and look and look what<\/div>\n<\/div>\n<\/div>\n
\n
\n
it could do I mean you sort of you<\/div>\n<\/div>\n<\/div>\n
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\n
cannot you got out of a position in a<\/div>\n<\/div>\n<\/div>\n
\n
\n
position of strength right and a<\/div>\n<\/div>\n<\/div>\n
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\n
position you really like and a trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
that was really working and then you got<\/div>\n<\/div>\n<\/div>\n
\n
\n
back in at a bad price because you got<\/div>\n<\/div>\n<\/div>\n
\n
\n
in a bad price you had to take yourself<\/div>\n<\/div>\n<\/div>\n
\n
\n
out even though the overall idea was<\/div>\n<\/div>\n<\/div>\n
\n
\n
still working tell me what you do a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little bit later so usually what I like<\/div>\n<\/div>\n<\/div>\n
\n
\n
to do is I like to take this as a more<\/div>\n<\/div>\n<\/div>\n
\n
\n
of a swing position and then I like to<\/div>\n<\/div>\n<\/div>\n
\n
\n
take a momentum lot when I actually see<\/div>\n<\/div>\n<\/div>\n
\n
\n
the real breakdown in these so I was<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of eyeing this like fifty four<\/div>\n<\/div>\n<\/div>\n
\n
\n
fifty dollar area it’s been bouncing in<\/div>\n<\/div>\n<\/div>\n
\n
\n
there a couple of times so I was trying<\/div>\n<\/div>\n<\/div>\n
\n
\n
to get involved for a momentum lot in<\/div>\n<\/div>\n<\/div>\n
\n
\n
there but I think because I realized<\/div>\n<\/div>\n<\/div>\n
\n
\n
that I wasn’t really making as much as I<\/div>\n<\/div>\n<\/div>\n
\n
\n
should have because I screwed up the<\/div>\n<\/div>\n<\/div>\n
\n
\n
initial entry I was kind of hitting the<\/div>\n<\/div>\n<\/div>\n
\n
\n
momentum a lot and really keeping my<\/div>\n<\/div>\n<\/div>\n
\n
\n
stop way too tight you know for the<\/div>\n<\/div>\n<\/div>\n
\n
\n
momentum odd it should be like a hard<\/div>\n<\/div>\n<\/div>\n
\n
\n
stop above here and like a soft stop<\/div>\n<\/div>\n<\/div>\n
\n
\n
like a hold above this $55 area which<\/div>\n<\/div>\n<\/div>\n
\n
\n
you could see it never spends more than<\/div>\n<\/div>\n<\/div>\n
\n
\n
like 30 seconds above it at all so I<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually took two small losses in this<\/div>\n<\/div>\n<\/div>\n
\n
\n
area when it was just kind of in a range<\/div>\n<\/div>\n<\/div>\n
\n
\n
from my momentum not and then I finally<\/div>\n<\/div>\n<\/div>\n
\n
\n
did get the momentum lot<\/div>\n<\/div>\n<\/div>\n
\n
\n
I covered into the flushes I like to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
flat basically into the low of day on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the momentum on<\/div>\n<\/div>\n<\/div>\n
\n
\n
unless it’s below the law of day so<\/div>\n<\/div>\n<\/div>\n
\n
\n
again he took if you take a couple of<\/div>\n<\/div>\n<\/div>\n
\n
\n
stops right there because price is<\/div>\n<\/div>\n<\/div>\n
\n
\n
giving you a signal to exit but not<\/div>\n<\/div>\n<\/div>\n
\n
\n
priced in time is that fair yeah now<\/div>\n<\/div>\n<\/div>\n
\n
\n
definitely that’s definitely uh accurate<\/div>\n<\/div>\n<\/div>\n
\n
\n
luck Givens you’ve been trading really<\/div>\n<\/div>\n<\/div>\n
\n
\n
well and you’ve been doing a really good<\/div>\n<\/div>\n<\/div>\n
\n
\n
job being very selective in your trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you’ve been on a trading really<\/div>\n<\/div>\n<\/div>\n
\n
\n
strongly relative to your experience and<\/div>\n<\/div>\n<\/div>\n
\n
\n
your class doing really well and so one<\/div>\n<\/div>\n<\/div>\n
\n
\n
thing I would ask you to think about I<\/div>\n<\/div>\n<\/div>\n
\n
\n
don’t want to change the way that you<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade and if this is too disruptive to<\/div>\n<\/div>\n<\/div>\n
\n
\n
the way that you trade just scratch it<\/div>\n<\/div>\n<\/div>\n
\n
\n
and gone but the way I look at this<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade particularly the type of trailer<\/div>\n<\/div>\n<\/div>\n
\n
\n
that you are it strikes me as I<\/div>\n<\/div>\n<\/div>\n
\n
\n
understand how you want to enter with<\/div>\n<\/div>\n<\/div>\n
\n
\n
the momentum for something that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
working and sort of hit hit new lows but<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re hitting the momentum you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
hitting the new lows because you are<\/div>\n<\/div>\n<\/div>\n
\n
\n
saying that’s confirming more so that<\/div>\n<\/div>\n<\/div>\n
\n
\n
I’m right and I understand that trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
but when I look at that chart and when I<\/div>\n<\/div>\n<\/div>\n
\n
\n
look at where that chart is on a daily<\/div>\n<\/div>\n<\/div>\n
\n
\n
chart and when I think about how much<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s run off and what I think about the<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade you’re trying to make and when I<\/div>\n<\/div>\n<\/div>\n
\n
\n
see the large down move after the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
and I see the volume in that large down<\/div>\n<\/div>\n<\/div>\n
\n
\n
move and I see the stock unable to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
above the wall and I see it trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
cleanly down after it fails to get above<\/div>\n<\/div>\n<\/div>\n
\n
\n
the UI those are also signals and signs<\/div>\n<\/div>\n<\/div>\n
\n
\n
particularly based on technical analysis<\/div>\n<\/div>\n<\/div>\n
\n
\n
that this stock is likely to trade lower<\/div>\n<\/div>\n<\/div>\n
\n
\n
those are lots of signs those are lots<\/div>\n<\/div>\n<\/div>\n
\n
\n
of technical signs that today this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
going to trade lower and so that can be<\/div>\n<\/div>\n<\/div>\n
\n
\n
enough for you to be adding to your<\/div>\n<\/div>\n<\/div>\n
\n
\n
short when it’s still hovering below<\/div>\n<\/div>\n<\/div>\n
\n
\n
view up and time passes and so you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
look for the tops of consolidation areas<\/div>\n<\/div>\n<\/div>\n
\n
\n
areas below view up over time as time<\/div>\n<\/div>\n<\/div>\n
\n
\n
passes and short those those tops short<\/div>\n<\/div>\n<\/div>\n
\n
\n
the tops of those ranges as opposed to<\/div>\n<\/div>\n<\/div>\n
\n
\n
hitting only the new lows and and so you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know that that is a way that that people<\/div>\n<\/div>\n<\/div>\n
\n
\n
look at this is look if it was gonna<\/div>\n<\/div>\n<\/div>\n
\n
\n
turn around it would have turned around<\/div>\n<\/div>\n<\/div>\n
\n
\n
by now it has it time is elapsed it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
less likely that it is going to turn<\/div>\n<\/div>\n<\/div>\n
\n
\n
around<\/div>\n<\/div>\n<\/div>\n
\n
\n
therefore it’s showing me more technical<\/div>\n<\/div>\n<\/div>\n
\n
\n
reasons it’s showing me more technical<\/div>\n<\/div>\n<\/div>\n
\n
\n
penis so I can add risk because time is<\/div>\n<\/div>\n<\/div>\n
\n
\n
showing me that I’m more right than<\/div>\n<\/div>\n<\/div>\n
\n
\n
wrong and so as time goes by as I said<\/div>\n<\/div>\n<\/div>\n
\n
\n
and as you find those areas of<\/div>\n<\/div>\n<\/div>\n
\n
\n
resistance below you up you can think<\/div>\n<\/div>\n<\/div>\n
\n
\n
about exchanging hitting new lows for<\/div>\n<\/div>\n<\/div>\n
\n
\n
shorting those highs and adding to your<\/div>\n<\/div>\n<\/div>\n
\n
\n
swing position or you can think about<\/div>\n<\/div>\n<\/div>\n
\n
\n
doing both or of course you can just say<\/div>\n<\/div>\n<\/div>\n
\n
\n
that doesn’t work for me and keep doing<\/div>\n<\/div>\n<\/div>\n
\n
\n
what you’re doing but I do think I<\/div>\n<\/div>\n<\/div>\n
\n
\n
understand what you’re trying to do by<\/div>\n<\/div>\n<\/div>\n
\n
\n
hitting lows or P close<\/div>\n<\/div>\n<\/div>\n
\n
\n
momentum lows with the trade but but<\/div>\n<\/div>\n<\/div>\n
\n
\n
I’ll give you I’ll give you that to<\/div>\n<\/div>\n<\/div>\n
\n
\n
think about that’s definitely something<\/div>\n<\/div>\n<\/div>\n
\n
\n
I’ve been working on it and I I do have<\/div>\n<\/div>\n<\/div>\n
\n
\n
the habit of kind of ruining my initial<\/div>\n<\/div>\n<\/div>\n
\n
\n
swing trade with these momentum Lots so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s definitely something I could take<\/div>\n<\/div>\n<\/div>\n
\n
\n
into account when I do develop these and<\/div>\n<\/div>\n<\/div>\n
\n
\n
then yeah just to finish the trade I<\/div>\n<\/div>\n<\/div>\n
\n
\n
just I like to take out the momentum<\/div>\n<\/div>\n<\/div>\n
\n
\n
into lo of days when I see the tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
start to turn a little bit and then I<\/div>\n<\/div>\n<\/div>\n
\n
\n
typically get flat my swing trade or at<\/div>\n<\/div>\n<\/div>\n
\n
\n
least the majority of it depending on<\/div>\n<\/div>\n<\/div>\n
\n
\n
how it is you know this this trade like<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’ve said a couple times is super<\/div>\n<\/div>\n<\/div>\n
\n
\n
crowded so I just got flat once the<\/div>\n<\/div>\n<\/div>\n
\n
\n
initial trend down breaks and it makes a<\/div>\n<\/div>\n<\/div>\n
\n
\n
higher low right right in here I just<\/div>\n<\/div>\n<\/div>\n
\n
\n
started bidding out of my swing position<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah that’s how my trade at it so just<\/div>\n<\/div>\n<\/div>\n
\n
\n
for the review I noticed the last like<\/div>\n<\/div>\n<\/div>\n
\n
\n
two or three weeks I after I started<\/div>\n<\/div>\n<\/div>\n
\n
\n
seeing a little bit of success I really<\/div>\n<\/div>\n<\/div>\n
\n
\n
started like tightening my stops not<\/div>\n<\/div>\n<\/div>\n
\n
\n
giving things the full risk that they<\/div>\n<\/div>\n<\/div>\n
\n
\n
deserve almost in like fear of giving<\/div>\n<\/div>\n<\/div>\n
\n
\n
back what I’ve gained last like two or<\/div>\n<\/div>\n<\/div>\n
\n
\n
three months which definitely hurt me so<\/div>\n<\/div>\n<\/div>\n
\n
\n
I think the biggest takeaway that I have<\/div>\n<\/div>\n<\/div>\n
\n
\n
from this is I just need to trust my<\/div>\n<\/div>\n<\/div>\n
\n
\n
system to develop more of a system for<\/div>\n<\/div>\n<\/div>\n
\n
\n
defining what what would be like time to<\/div>\n<\/div>\n<\/div>\n
\n
\n
exit in that in that price as opposed to<\/div>\n<\/div>\n<\/div>\n
\n
\n
just getting out if it wicks up<\/div>\n<\/div>\n<\/div>\n
\n
\n
especially in a name that wicks around<\/div>\n<\/div>\n<\/div>\n
\n
\n
like that so much and when I do make a<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade mistake in the middle of my trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
I can’t just immediately get back in and<\/div>\n<\/div>\n<\/div>\n
\n
\n
worst prices like this that’s something<\/div>\n<\/div>\n<\/div>\n
\n
\n
that I do sometimes as well you know get<\/div>\n<\/div>\n<\/div>\n
\n
\n
out and then it goes back when in my way<\/div>\n<\/div>\n<\/div>\n
\n
\n
and I realize I never should have gotten<\/div>\n<\/div>\n<\/div>\n
\n
\n
out and then I kind of just get like and<\/div>\n<\/div>\n<\/div>\n
\n
\n
it end up getting chopped you’re out and<\/div>\n<\/div>\n<\/div>\n
\n
\n
arrange for a little bit which I think<\/div>\n<\/div>\n<\/div>\n
\n
\n
just just goes back to trusting my<\/div>\n<\/div>\n<\/div>\n
\n
\n
original entry and the system I’ve<\/div>\n<\/div>\n<\/div>\n
\n
\n
developed now I just think you need to<\/div>\n<\/div>\n<\/div>\n
\n
\n
think about one more thing which is<\/div>\n<\/div>\n<\/div>\n
\n
\n
in a stock like this that’s so crowded<\/div>\n<\/div>\n<\/div>\n
\n
\n
and volatile another advanced technique<\/div>\n<\/div>\n<\/div>\n
\n
\n
that you probably going to need to learn<\/div>\n<\/div>\n<\/div>\n
\n
\n
how to utilize especially when you get<\/div>\n<\/div>\n<\/div>\n
\n
\n
bigger is you’re probably gonna need to<\/div>\n<\/div>\n<\/div>\n
\n
\n
take stops based on price or at least<\/div>\n<\/div>\n<\/div>\n
\n
\n
the big portion of stops based on price<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then watch what it does when it<\/div>\n<\/div>\n<\/div>\n
\n
\n
takes you out on price so you’re gonna<\/div>\n<\/div>\n<\/div>\n
\n
\n
have to get to the point where you take<\/div>\n<\/div>\n<\/div>\n
\n
\n
you take it off or you take some of it<\/div>\n<\/div>\n<\/div>\n
\n
\n
off but then recognize whether or not<\/div>\n<\/div>\n<\/div>\n
\n
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it’s a wick you know just a temporary<\/div>\n<\/div>\n<\/div>\n
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price spike or it’s a change in<\/div>\n<\/div>\n<\/div>\n
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direction and particularly with<\/div>\n<\/div>\n<\/div>\n
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something that’s really crowded<\/div>\n<\/div>\n<\/div>\n
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particularly in something that’s a<\/div>\n<\/div>\n<\/div>\n
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backside tray particularly something<\/div>\n<\/div>\n<\/div>\n
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that’s been up so much you’re going to<\/div>\n<\/div>\n<\/div>\n
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have to be able to take it off and then<\/div>\n<\/div>\n<\/div>\n
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quickly see that it is a wick I put it<\/div>\n<\/div>\n<\/div>\n
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back on<\/div>\n<\/div>\n<\/div>\n
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against the high wick and be in it if<\/div>\n<\/div>\n<\/div>\n
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it’s gonna go down stop out above the<\/div>\n<\/div>\n<\/div>\n
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wick high obviously if you’re wrong but<\/div>\n<\/div>\n<\/div>\n
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that’s that’s something for you to be<\/div>\n<\/div>\n<\/div>\n
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thinking about and that’s where your<\/div>\n<\/div>\n<\/div>\n
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tape reading skills come in handy that’s<\/div>\n<\/div>\n<\/div>\n
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where your open mind is on<\/div>\n<\/div>\n<\/div>\n
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open-mindedness comes in handy and again<\/div>\n<\/div>\n<\/div>\n
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that’s a pretty advanced concept so<\/div>\n<\/div>\n<\/div>\n
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we’ll get to that in time as you can do<\/div>\n<\/div>\n<\/div>\n
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better I apologize for making you go<\/div>\n<\/div>\n<\/div>\n
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first showing one bad trade and but I<\/div>\n<\/div>\n<\/div>\n
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will stipulate you’ve done very well and<\/div>\n<\/div>\n<\/div>\n
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so we purposely had you go first since<\/div>\n<\/div>\n<\/div>\n
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we thought you can handle it hey go<\/div>\n<\/div>\n<\/div>\n
\n
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ahead and click our subscribe button so<\/div>\n<\/div>\n<\/div>\n
\n
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you don’t miss any of the videos they<\/div>\n<\/div>\n<\/div>\n
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were producing for you in the trading<\/div>\n<\/div>\n<\/div>\n
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community and please take the time to<\/div>\n<\/div>\n<\/div>\n
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add your feedback in the comments<\/div>\n<\/div>\n<\/div>\n
\n
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section for what videos you’d like for<\/div>\n<\/div>\n<\/div>\n
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us to produce next and what you found<\/div>\n<\/div>\n<\/div>\n
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helpful from this video from all of us<\/div>\n<\/div>\n<\/div>\n
\n
\n
at SMB train and trade well<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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

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

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