{"id":49901,"date":"2020-05-29T14:08:29","date_gmt":"2020-05-29T18:08:29","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=49901"},"modified":"2020-06-02T14:09:30","modified_gmt":"2020-06-02T18:09:30","slug":"one-important-reason-why-you-are-making-losing-trades-daily-video","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/one-important-reason-why-you-are-making-losing-trades-daily-video","title":{"rendered":"One important reason why you are making losing trades"},"content":{"rendered":"

In this video, we share one important reason why you are making losing trades. See how a junior trader creates an AntiPlayBook Trade to help eliminate his bad trading and bad trades that are holding him back as a trader.<\/p>\nView Video Transcript<\/strong><\/span>

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in this video we share one important<\/div>\n<\/div>\n<\/div>\n
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reason why you are making losing trades<\/div>\n<\/div>\n<\/div>\n
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hi I’m Mike bellifiore 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 were<\/div>\n<\/div>\n<\/div>\n
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producing for you in the trading<\/div>\n<\/div>\n<\/div>\n
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community see how a junior trader<\/div>\n<\/div>\n<\/div>\n
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creates an anti playbook trade to help<\/div>\n<\/div>\n<\/div>\n
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eliminate his bad trading and bad trades<\/div>\n<\/div>\n<\/div>\n
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that are holding him back as a trader<\/div>\n<\/div>\n<\/div>\n
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let’s dive in today’s presentation is<\/div>\n<\/div>\n<\/div>\n
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going to be on Twilio and it’s gonna be<\/div>\n<\/div>\n<\/div>\n
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on a false breakout trade that I was<\/div>\n<\/div>\n<\/div>\n
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making on day one of the earnings report<\/div>\n<\/div>\n<\/div>\n
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when the stock was going up like 40<\/div>\n<\/div>\n<\/div>\n
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percent in just one day so there’s kind<\/div>\n<\/div>\n<\/div>\n
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of bigger picture you know what the<\/div>\n<\/div>\n<\/div>\n
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results were they were so the profit is<\/div>\n<\/div>\n<\/div>\n
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6 cents versus a expectation of a 11<\/div>\n<\/div>\n<\/div>\n
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cent loss and revenue beat as well<\/div>\n<\/div>\n<\/div>\n
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technology has continued to be a market<\/div>\n<\/div>\n<\/div>\n
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leader with this cloud-based software<\/div>\n<\/div>\n<\/div>\n
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company leading the way to all-time<\/div>\n<\/div>\n<\/div>\n
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highs so there’s kind of understanding<\/div>\n<\/div>\n<\/div>\n
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what the market dynamic has been people<\/div>\n<\/div>\n<\/div>\n
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have been buying leaders and technology<\/div>\n<\/div>\n<\/div>\n
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because they figure that they’re gonna<\/div>\n<\/div>\n<\/div>\n
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do better in this economy post Korona<\/div>\n<\/div>\n<\/div>\n
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and they’ve been selling obviously like<\/div>\n<\/div>\n<\/div>\n
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the weaker names ones that will probably<\/div>\n<\/div>\n<\/div>\n
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be hurt more longer-term and just what<\/div>\n<\/div>\n<\/div>\n
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the intraday fundamentals are the stock<\/div>\n<\/div>\n<\/div>\n
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basically went a parabolic the whole day<\/div>\n<\/div>\n<\/div>\n
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and was up 40% intraday which was the<\/div>\n<\/div>\n<\/div>\n
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biggest move ever actually for this<\/div>\n<\/div>\n<\/div>\n
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company on earnings and also for really<\/div>\n<\/div>\n<\/div>\n
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any technology stock that I’ve been<\/div>\n<\/div>\n<\/div>\n
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following in a while<\/div>\n<\/div>\n<\/div>\n
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next I really like how you did that<\/div>\n<\/div>\n<\/div>\n
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really terrific best practice to go<\/div>\n<\/div>\n<\/div>\n
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ahead and and see this is a little bit<\/div>\n<\/div>\n<\/div>\n
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different but a hey how has this company<\/div>\n<\/div>\n<\/div>\n
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done in the past after earnings what are<\/div>\n<\/div>\n<\/div>\n
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some of the moves that it has made<\/div>\n<\/div>\n<\/div>\n
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actually think jake has done this a<\/div>\n<\/div>\n<\/div>\n
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couple of times and share this with us<\/div>\n<\/div>\n<\/div>\n
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in our group sessions in our group<\/div>\n<\/div>\n<\/div>\n
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mentoring sessions but highly encourage<\/div>\n<\/div>\n<\/div>\n
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guys in the desk to do more of that hey<\/div>\n<\/div>\n<\/div>\n
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you know on earnings last time it had<\/div>\n<\/div>\n<\/div>\n
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the earnings you know we moved to a TRS<\/div>\n<\/div>\n<\/div>\n
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or you know the last ten times this<\/div>\n<\/div>\n<\/div>\n
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company as earnings here are some of the<\/div>\n<\/div>\n<\/div>\n
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patterns that I’m seeing based on how it<\/div>\n<\/div>\n<\/div>\n
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trades after earnings and putting that<\/div>\n<\/div>\n<\/div>\n
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into your back best your back pocket so<\/div>\n<\/div>\n<\/div>\n
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a really like what you’re doing here by<\/div>\n<\/div>\n<\/div>\n
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starting with an impression semi thesis<\/div>\n<\/div>\n<\/div>\n
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says to hey is this how much is this up<\/div>\n<\/div>\n<\/div>\n
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relative to tech stocks and how it’s<\/div>\n<\/div>\n<\/div>\n
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done in the past so nicely done there<\/div>\n<\/div>\n<\/div>\n
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thank you<\/div>\n<\/div>\n<\/div>\n
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and yet just kind of the statute of<\/div>\n<\/div>\n<\/div>\n
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stock the ATR ten points volume three<\/div>\n<\/div>\n<\/div>\n
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are bottles around five this day short<\/div>\n<\/div>\n<\/div>\n
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float kana high but nothing crazy twelve<\/div>\n<\/div>\n<\/div>\n
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percent definitely higher than what’s<\/div>\n<\/div>\n<\/div>\n
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usual for a big cap tech stock but not<\/div>\n<\/div>\n<\/div>\n
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you know crazy high in the twenties or<\/div>\n<\/div>\n<\/div>\n
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anything it’s just kind of seeing what<\/div>\n<\/div>\n<\/div>\n
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this looks like on the let me just set<\/div>\n<\/div>\n<\/div>\n
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the scene as I do at the beginning of<\/div>\n<\/div>\n<\/div>\n
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all these videos which is this is an<\/div>\n<\/div>\n<\/div>\n
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example of an anti playbook trade so<\/div>\n<\/div>\n<\/div>\n
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we’re actually doing voluntarily is<\/div>\n<\/div>\n<\/div>\n
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going back in trading and then studying<\/div>\n<\/div>\n<\/div>\n
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setups that we don’t trade particularly<\/div>\n<\/div>\n<\/div>\n
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well or the trading that we don’t do<\/div>\n<\/div>\n<\/div>\n
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particularly well and learning from that<\/div>\n<\/div>\n<\/div>\n
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we can get a lot better by understanding<\/div>\n<\/div>\n<\/div>\n
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what we do poorly and staying away from<\/div>\n<\/div>\n<\/div>\n
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it and the types of trading that isn’t<\/div>\n<\/div>\n<\/div>\n
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what we do particularly well and staying<\/div>\n<\/div>\n<\/div>\n
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away from it cutting out the nonsense<\/div>\n<\/div>\n<\/div>\n
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one of the last and one of the last<\/div>\n<\/div>\n<\/div>\n
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group sessions we have more actually all<\/div>\n<\/div>\n<\/div>\n
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together in New York as opposed to right<\/div>\n<\/div>\n<\/div>\n
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now we’re all virtual was meeting with<\/div>\n<\/div>\n<\/div>\n
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team and one of the junior traders who<\/div>\n<\/div>\n<\/div>\n
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had made the most progress of anyone on<\/div>\n<\/div>\n<\/div>\n
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the team when asked why he had done so<\/div>\n<\/div>\n<\/div>\n
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much better said I stopped doing all the<\/div>\n<\/div>\n<\/div>\n
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stupid stuff I stopped doing all the<\/div>\n<\/div>\n<\/div>\n
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stupid stuff<\/div>\n<\/div>\n<\/div>\n
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so this is our sophisticated way of<\/div>\n<\/div>\n<\/div>\n
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stopping to do all the stupid stuff I<\/div>\n<\/div>\n<\/div>\n
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already got max<\/div>\n<\/div>\n<\/div>\n
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just kind of seeing what this looks like<\/div>\n<\/div>\n<\/div>\n
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on the daily and as you can see this has<\/div>\n<\/div>\n<\/div>\n
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been you know brand new all-time highs<\/div>\n<\/div>\n<\/div>\n
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and you know at the time you know that<\/div>\n<\/div>\n<\/div>\n
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we still weren’t clearly breaking out to<\/div>\n<\/div>\n<\/div>\n
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new levels and the Nasdaq so I believe<\/div>\n<\/div>\n<\/div>\n
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that like it was more reasonable to kind<\/div>\n<\/div>\n<\/div>\n
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of be like looking for fades which I<\/div>\n<\/div>\n<\/div>\n
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guess now in this market you know as<\/div>\n<\/div>\n<\/div>\n
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opposed to just you know given the<\/div>\n<\/div>\n<\/div>\n
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parabolic nature has not been as<\/div>\n<\/div>\n<\/div>\n
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reasonable but ya know I mean they were<\/div>\n<\/div>\n<\/div>\n
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up basically 200% from these all-time<\/div>\n<\/div>\n<\/div>\n
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highs or from the lows of that year and<\/div>\n<\/div>\n<\/div>\n
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just now actually moving to what this<\/div>\n<\/div>\n<\/div>\n
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trade looks like so this is like both<\/div>\n<\/div>\n<\/div>\n
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like mid day just kind of areas that<\/div>\n<\/div>\n<\/div>\n
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I’ve highlighted first I believe was<\/div>\n<\/div>\n<\/div>\n
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around 11:00 a.m. time frame and then<\/div>\n<\/div>\n<\/div>\n
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the next was around maybe 12:30 both<\/div>\n<\/div>\n<\/div>\n
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points for me are historically bad parts<\/div>\n<\/div>\n<\/div>\n
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of my trading really just like not<\/div>\n<\/div>\n<\/div>\n
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places where I excel like my focus<\/div>\n<\/div>\n<\/div>\n
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really for the most part is on momentum<\/div>\n<\/div>\n<\/div>\n
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times and you know one thing that I<\/div>\n<\/div>\n<\/div>\n
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liked to you know like just a really<\/div>\n<\/div>\n<\/div>\n
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focus on for like my trading is trying<\/div>\n<\/div>\n<\/div>\n
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to get large size and get quick moves<\/div>\n<\/div>\n<\/div>\n
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and when I’m doing that like midday<\/div>\n<\/div>\n<\/div>\n
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obviously not really a time for me to be<\/div>\n<\/div>\n<\/div>\n
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pushing this size when you know it’s<\/div>\n<\/div>\n<\/div>\n
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gonna be more algo driven a lot more<\/div>\n<\/div>\n<\/div>\n
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kind of just BS moves and just kind of a<\/div>\n<\/div>\n<\/div>\n
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more prone to fake outs and even a fake<\/div>\n<\/div>\n<\/div>\n
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out on the you know the other false<\/div>\n<\/div>\n<\/div>\n
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breakout where it’s like it seems like<\/div>\n<\/div>\n<\/div>\n
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you know it’s my pull and then they just<\/div>\n<\/div>\n<\/div>\n
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like throw some phase and it goes higher<\/div>\n<\/div>\n<\/div>\n
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liquidity is not going to be as as good<\/div>\n<\/div>\n<\/div>\n
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as well right so it’s gonna be a little<\/div>\n<\/div>\n<\/div>\n
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bit harder for you if you want to trade<\/div>\n<\/div>\n<\/div>\n
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with a little bit aside to protect<\/div>\n<\/div>\n<\/div>\n
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yourself when you’re wrong absolutely<\/div>\n<\/div>\n<\/div>\n
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and you know especially if I’m gonna be<\/div>\n<\/div>\n<\/div>\n
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going in for example actually here I’ll<\/div>\n<\/div>\n<\/div>\n
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talk about that in the trade management<\/div>\n<\/div>\n<\/div>\n
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but yeah so just kind of like before I<\/div>\n<\/div>\n<\/div>\n
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actually go through the<\/div>\n<\/div>\n<\/div>\n
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what my errors were if you want to learn<\/div>\n<\/div>\n<\/div>\n
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three real-world setups that our traders<\/div>\n<\/div>\n<\/div>\n
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use including the simple setup that we<\/div>\n<\/div>\n<\/div>\n
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teach all of our new traders and the<\/div>\n<\/div>\n<\/div>\n
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setup that turned one of our traders<\/div>\n<\/div>\n<\/div>\n
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into a seven-figure big money earner<\/div>\n<\/div>\n<\/div>\n
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check out the free webinar that we’re<\/div>\n<\/div>\n<\/div>\n
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currently running just go ahead and<\/div>\n<\/div>\n<\/div>\n
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click the link that should be appearing<\/div>\n<\/div>\n<\/div>\n
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right now at the top right hand corner<\/div>\n<\/div>\n<\/div>\n
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of your screen that’s going to open up<\/div>\n<\/div>\n<\/div>\n
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this free registration page in the new<\/div>\n<\/div>\n<\/div>\n
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window so don’t worry you’re not gonna<\/div>\n<\/div>\n<\/div>\n
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lose this video you’re gonna learn more<\/div>\n<\/div>\n<\/div>\n
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in a 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 biggest error was sizing<\/div>\n<\/div>\n<\/div>\n
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too much per turn and not thinking<\/div>\n<\/div>\n<\/div>\n
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bigger picture so I’m taking too much<\/div>\n<\/div>\n<\/div>\n
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risk on trying to like time to turn<\/div>\n<\/div>\n<\/div>\n
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whereas instead I should just be like<\/div>\n<\/div>\n<\/div>\n
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focusing on getting a feel for the stock<\/div>\n<\/div>\n<\/div>\n
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not as much focusing on trying to time<\/div>\n<\/div>\n<\/div>\n
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the exact top with my best or with like<\/div>\n<\/div>\n<\/div>\n
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max size and then get the whole move<\/div>\n<\/div>\n<\/div>\n
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right and the biggest problem with this<\/div>\n<\/div>\n<\/div>\n
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is that one if the trade pans out but I<\/div>\n<\/div>\n<\/div>\n
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take two or three losses on what like<\/div>\n<\/div>\n<\/div>\n
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would be a good amount of size I<\/div>\n<\/div>\n<\/div>\n
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basically priced myself out of the trade<\/div>\n<\/div>\n<\/div>\n
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so if let’s say I’m willing to lose 20%<\/div>\n<\/div>\n<\/div>\n
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of my stop trying this if I’m gonna be<\/div>\n<\/div>\n<\/div>\n
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you know I’m risking 10% on two trades<\/div>\n<\/div>\n<\/div>\n
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or I’m just trying to time the defaults<\/div>\n<\/div>\n<\/div>\n
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break out based on the tape you know<\/div>\n<\/div>\n<\/div>\n
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there’s a good chance that you know I’m<\/div>\n<\/div>\n<\/div>\n
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gonna get it wrong and if it actually<\/div>\n<\/div>\n<\/div>\n
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did play out I would have been totally<\/div>\n<\/div>\n<\/div>\n
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priced out or I would have been<\/div>\n<\/div>\n<\/div>\n
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frustrated from the losses and then I<\/div>\n<\/div>\n<\/div>\n
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wouldn’t have traded it well right so I<\/div>\n<\/div>\n<\/div>\n
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think that’s just kind of key for me<\/div>\n<\/div>\n<\/div>\n
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just like going forward just to I<\/div>\n<\/div>\n<\/div>\n
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realize that you know I am trying to add<\/div>\n<\/div>\n<\/div>\n
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to my playbook better ways to get into<\/div>\n<\/div>\n<\/div>\n
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bigger picture trades and more pattern<\/div>\n<\/div>\n<\/div>\n
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trades because you know I’m been doing<\/div>\n<\/div>\n<\/div>\n
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well in momentum but you know that<\/div>\n<\/div>\n<\/div>\n
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there’s not going to be momentum trace<\/div>\n<\/div>\n<\/div>\n
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and you know every single day and I came<\/div>\n<\/div>\n<\/div>\n
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out just like rely on that so I<\/div>\n<\/div>\n<\/div>\n
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definitely feel the need and pressure to<\/div>\n<\/div>\n<\/div>\n
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try to expand my playbook so shark does<\/div>\n<\/div>\n<\/div>\n
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this right when he thinks something’s<\/div>\n<\/div>\n<\/div>\n
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overbought and he thinks it’s ready to<\/div>\n<\/div>\n<\/div>\n
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turn he wants to trade the turn or<\/div>\n<\/div>\n<\/div>\n
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to trade be on the front side<\/div>\n<\/div>\n<\/div>\n
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anticipating the turn he’s gonna get the<\/div>\n<\/div>\n<\/div>\n
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three tries so when he’s thinking about<\/div>\n<\/div>\n<\/div>\n
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his risk on try Wan he’s livin himself<\/div>\n<\/div>\n<\/div>\n
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risk for try – and he’s leaving him<\/div>\n<\/div>\n<\/div>\n
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himself<\/div>\n<\/div>\n<\/div>\n
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risk for try3 and he’s leaving himself<\/div>\n<\/div>\n<\/div>\n
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overall risk for if he really sees the<\/div>\n<\/div>\n<\/div>\n
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turn and wants to really size into it I<\/div>\n<\/div>\n<\/div>\n
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think you’re saying the same thing there<\/div>\n<\/div>\n<\/div>\n
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yeah basically and yeah so like you know<\/div>\n<\/div>\n<\/div>\n
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that’s definitely a place where I have<\/div>\n<\/div>\n<\/div>\n
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to improve on as a trader actually just<\/div>\n<\/div>\n<\/div>\n
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going through the trade management so<\/div>\n<\/div>\n<\/div>\n
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kind of what I was seeing you know in<\/div>\n<\/div>\n<\/div>\n
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the highlighted areas I was looking to<\/div>\n<\/div>\n<\/div>\n
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see if there would be a new breakout and<\/div>\n<\/div>\n<\/div>\n
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then a immediate rejection so we kind of<\/div>\n<\/div>\n<\/div>\n
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saw that in the 170 area where you see<\/div>\n<\/div>\n<\/div>\n
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it broke it failed at 170 started to<\/div>\n<\/div>\n<\/div>\n
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like pull in this was not my main area<\/div>\n<\/div>\n<\/div>\n
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putting on this trade I think that I<\/div>\n<\/div>\n<\/div>\n
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kinda like noticed that and then was<\/div>\n<\/div>\n<\/div>\n
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trying later on versus for a similar<\/div>\n<\/div>\n<\/div>\n
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style setup but as you see in the next<\/div>\n<\/div>\n<\/div>\n
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highlighted area you know like there<\/div>\n<\/div>\n<\/div>\n
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would be a wicks breaking out and then a<\/div>\n<\/div>\n<\/div>\n
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subsequently red bar pulling in and then<\/div>\n<\/div>\n<\/div>\n
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it’ll just kind of be doing that for<\/div>\n<\/div>\n<\/div>\n
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like 30 minutes and in my head I’m<\/div>\n<\/div>\n<\/div>\n
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thinking I this stock has come $25<\/div>\n<\/div>\n<\/div>\n
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2.5 ATR it’s just from the open not to<\/div>\n<\/div>\n<\/div>\n
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mention that you know it was gapping up<\/div>\n<\/div>\n<\/div>\n
\n
\n
so I felt as though that my RR was<\/div>\n<\/div>\n<\/div>\n
\n
\n
really solid but you know as you can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s not so that there was any volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
there showing that there really was<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna be that false breakdown like what<\/div>\n<\/div>\n<\/div>\n
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\n
it should have been is if let’s say it<\/div>\n<\/div>\n<\/div>\n
\n
\n
broke 173 which was like the prior high<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then it went right to like 170<\/div>\n<\/div>\n<\/div>\n
\n
\n
something where I’m like okay I could<\/div>\n<\/div>\n<\/div>\n
\n
\n
see this going back to the whopping only<\/div>\n<\/div>\n<\/div>\n
\n
\n
165 and that is a clear rejection<\/div>\n<\/div>\n<\/div>\n
\n
\n
instead of just you know a red bar and a<\/div>\n<\/div>\n<\/div>\n
\n
\n
stock that’s moving to $3.00 per minute<\/div>\n<\/div>\n<\/div>\n
\n
\n
anyway and you know like that just comes<\/div>\n<\/div>\n<\/div>\n
\n
\n
with you know just understand the stock<\/div>\n<\/div>\n<\/div>\n
\n
\n
better and just experience<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know but as you can see trying it<\/div>\n<\/div>\n<\/div>\n
\n
\n
there you know with tight stops is<\/div>\n<\/div>\n<\/div>\n
\n
\n
clearly just uh you know trading time of<\/div>\n<\/div>\n<\/div>\n
\n
\n
day is important right so you’re gonna<\/div>\n<\/div>\n<\/div>\n
\n
\n
have you could have different play books<\/div>\n<\/div>\n<\/div>\n
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\n
for the open for the middle of the day<\/div>\n<\/div>\n<\/div>\n
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\n
and into the clothes we all know that<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s one particular trade which we<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually can’t talk about that you love<\/div>\n<\/div>\n<\/div>\n
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\n
after three o’clock yeah which you my<\/div>\n<\/div>\n<\/div>\n
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\n
baby your favorite rate so and you want<\/div>\n<\/div>\n<\/div>\n
\n
\n
to be thinking about your wrist or out<\/div>\n<\/div>\n<\/div>\n
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\n
the day and I know that you do is saving<\/div>\n<\/div>\n<\/div>\n
\n
\n
risk for that trait as well but you<\/div>\n<\/div>\n<\/div>\n
\n
\n
totally right which is there can be<\/div>\n<\/div>\n<\/div>\n
\n
\n
false breakout trades with rules that<\/div>\n<\/div>\n<\/div>\n
\n
\n
you put into a playbook for the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
that you take on the open that work on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the open that you don’t take in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
middle of the day that you may or may<\/div>\n<\/div>\n<\/div>\n
\n
\n
not take into that close of trading hour<\/div>\n<\/div>\n<\/div>\n
\n
\n
into that last hour of trading so that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know one of the things that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
particularly helpful to do this is to<\/div>\n<\/div>\n<\/div>\n
\n
\n
think about the day in three separate<\/div>\n<\/div>\n<\/div>\n
\n
\n
sessions the open is one session the<\/div>\n<\/div>\n<\/div>\n
\n
\n
middle of the day is another session the<\/div>\n<\/div>\n<\/div>\n
\n
\n
close of trading is another session and<\/div>\n<\/div>\n<\/div>\n
\n
\n
to create a demarcation between those<\/div>\n<\/div>\n<\/div>\n
\n
\n
three periods of each day to actually<\/div>\n<\/div>\n<\/div>\n
\n
\n
physically get up off the trading desk<\/div>\n<\/div>\n<\/div>\n
\n
\n
and take a scheduled break for ten<\/div>\n<\/div>\n<\/div>\n
\n
\n
minutes or more after they open after<\/div>\n<\/div>\n<\/div>\n
\n
\n
the afternoon session<\/div>\n<\/div>\n<\/div>\n
\n
\n
where you’re really putting in those<\/div>\n<\/div>\n<\/div>\n
\n
\n
barriers and then spending some time<\/div>\n<\/div>\n<\/div>\n
\n
\n
during that break thinking about hey<\/div>\n<\/div>\n<\/div>\n
\n
\n
what are the stocks that I want to trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
midday what are the setups that I want<\/div>\n<\/div>\n<\/div>\n
\n
\n
to trade midday how do I want to attack<\/div>\n<\/div>\n<\/div>\n
\n
\n
this new session get a clear head<\/div>\n<\/div>\n<\/div>\n
\n
\n
recharge restart and then attack those<\/div>\n<\/div>\n<\/div>\n
\n
\n
very specific different portions of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
day with very specific playbook trades<\/div>\n<\/div>\n<\/div>\n
\n
\n
that work best for you that you trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
well for each different period that’s a<\/div>\n<\/div>\n<\/div>\n
\n
\n
really advanced way to trade during the<\/div>\n<\/div>\n<\/div>\n
\n
\n
middle of the day and you’re starting to<\/div>\n<\/div>\n<\/div>\n
\n
\n
think like that by making that very<\/div>\n<\/div>\n<\/div>\n
\n
\n
significant distinction which is hey<\/div>\n<\/div>\n<\/div>\n
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\n
this doesn’t work for me probably mostly<\/div>\n<\/div>\n<\/div>\n
\n
\n
because it’s middle of the day but but<\/div>\n<\/div>\n<\/div>\n
\n
\n
might work on the open you know if<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re gonna be a fade trader for stocks<\/div>\n<\/div>\n<\/div>\n
\n
\n
that gap up right on the open is gonna<\/div>\n<\/div>\n<\/div>\n
\n
\n
be a very advantageous time at 10<\/div>\n<\/div>\n<\/div>\n
\n
\n
o’clock is gonna be a very advantageous<\/div>\n<\/div>\n<\/div>\n
\n
\n
time and 11:30 is a completely different<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade absolutely and as you can see here<\/div>\n<\/div>\n<\/div>\n
\n
\n
by the executions you know the first one<\/div>\n<\/div>\n<\/div>\n
\n
\n
it broke 170 my thinking there was okay<\/div>\n<\/div>\n<\/div>\n
\n
\n
we just broke the round number<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe we stopped people out it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
starting to like go back under and I<\/div>\n<\/div>\n<\/div>\n
\n
\n
think was all right we just had a pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
carbolic move and the reason for this<\/div>\n<\/div>\n<\/div>\n
\n
\n
rally I remember it was on CNBC there<\/div>\n<\/div>\n<\/div>\n
\n
\n
was this mentioned that there were calls<\/div>\n<\/div>\n<\/div>\n
\n
\n
being bought and I figured that I this<\/div>\n<\/div>\n<\/div>\n
\n
\n
is just kind of pushing me retail buyers<\/div>\n<\/div>\n<\/div>\n
\n
\n
into this kind of just like chasing this<\/div>\n<\/div>\n<\/div>\n
\n
\n
up it’s not really a true reason for<\/div>\n<\/div>\n<\/div>\n
\n
\n
there to be a volume explosion so that<\/div>\n<\/div>\n<\/div>\n
\n
\n
was that Najarian yeah yeah so I saw<\/div>\n<\/div>\n<\/div>\n
\n
\n
that clown we see him yeah absolutely<\/div>\n<\/div>\n<\/div>\n
\n
\n
he stripped me over but you know so he<\/div>\n<\/div>\n<\/div>\n
\n
\n
so like the rally was like five dollars<\/div>\n<\/div>\n<\/div>\n
\n
\n
on that comment so a German was calling<\/div>\n<\/div>\n<\/div>\n
\n
\n
out unusual options activity and the<\/div>\n<\/div>\n<\/div>\n
\n
\n
particular name in the middle of the day<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that caused a little bit of a spike<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah so what am I thinking was that that<\/div>\n<\/div>\n<\/div>\n
\n
\n
was gonna create a false breakout and<\/div>\n<\/div>\n<\/div>\n
\n
\n
then because it was just a retail<\/div>\n<\/div>\n<\/div>\n
\n
\n
traders buying it pros<\/div>\n<\/div>\n<\/div>\n
\n
\n
then they come in kind of smack it back<\/div>\n<\/div>\n<\/div>\n
\n
\n
down to where it was before so I was<\/div>\n<\/div>\n<\/div>\n
\n
\n
taking that like the 170 stuff would<\/div>\n<\/div>\n<\/div>\n
\n
\n
have like made sense but as you can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know it probably should have held<\/div>\n<\/div>\n<\/div>\n
\n
\n
under 170 at least from one or two<\/div>\n<\/div>\n<\/div>\n
\n
\n
candles for that to be valid and then it<\/div>\n<\/div>\n<\/div>\n
\n
\n
was still giving me a pretty good RR and<\/div>\n<\/div>\n<\/div>\n
\n
\n
there was more volume on the break than<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the red bar and like right there that<\/div>\n<\/div>\n<\/div>\n
\n
\n
was probably a 50 cent loss which is<\/div>\n<\/div>\n<\/div>\n
\n
\n
fine but you know that with that size it<\/div>\n<\/div>\n<\/div>\n
\n
\n
starts to slowly add up and then I try<\/div>\n<\/div>\n<\/div>\n
\n
\n
again at 172 that’s a fake break out or<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know are thinking that and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
finally what you know on that building<\/div>\n<\/div>\n<\/div>\n
\n
\n
red bollard my thinking is all right big<\/div>\n<\/div>\n<\/div>\n
\n
\n
family just jump in right here because I<\/div>\n<\/div>\n<\/div>\n
\n
\n
know you’re more advanced than most of<\/div>\n<\/div>\n<\/div>\n
\n
\n
the people who are watching this right<\/div>\n<\/div>\n<\/div>\n
\n
\n
now so you know so Pete and Jon Najarian<\/div>\n<\/div>\n<\/div>\n
\n
\n
run a service let’s explain unusual<\/div>\n<\/div>\n<\/div>\n
\n
\n
options activity okay want to do what do<\/div>\n<\/div>\n<\/div>\n
\n
\n
you want me to do it I can give it a try<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah you give it a try your show you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
an options expert so the run sure so<\/div>\n<\/div>\n<\/div>\n
\n
\n
basically what they’re doing is they are<\/div>\n<\/div>\n<\/div>\n
\n
\n
highlighting unusual options activity<\/div>\n<\/div>\n<\/div>\n
\n
\n
which means that there is a larger<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume of contracts being bought or sold<\/div>\n<\/div>\n<\/div>\n
\n
\n
what you know in a particular name so<\/div>\n<\/div>\n<\/div>\n
\n
\n
for example if let’s say light usually<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s only a thousand contracts being<\/div>\n<\/div>\n<\/div>\n
\n
\n
traded in a stock or in a particular you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know expiration if suddenly there’s five<\/div>\n<\/div>\n<\/div>\n
\n
\n
or 10,000 it probably means that there<\/div>\n<\/div>\n<\/div>\n
\n
\n
is some institutional player that is<\/div>\n<\/div>\n<\/div>\n
\n
\n
coming in and placing a large bet on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
direction of the stocks what I can tell<\/div>\n<\/div>\n<\/div>\n
\n
\n
you is that there are people with real<\/div>\n<\/div>\n<\/div>\n
\n
\n
money coming in with a you know a thesis<\/div>\n<\/div>\n<\/div>\n
\n
\n
backed trade that I’m most likely and<\/div>\n<\/div>\n<\/div>\n
\n
\n
then many times people will just kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
follow what is called the smart money<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that’s definitely one of the more<\/div>\n<\/div>\n<\/div>\n
\n
\n
common trades that they go over and<\/div>\n<\/div>\n<\/div>\n
\n
\n
discuss in their service and on CNBC is<\/div>\n<\/div>\n<\/div>\n
\n
\n
that something you watch it all max the<\/div>\n<\/div>\n<\/div>\n
\n
\n
show or or<\/div>\n<\/div>\n<\/div>\n
\n
\n
oh yeah do you have an indicator for<\/div>\n<\/div>\n<\/div>\n
\n
\n
unusual options that you watch I watch<\/div>\n<\/div>\n<\/div>\n
\n
\n
it but not as much since you know just<\/div>\n<\/div>\n<\/div>\n
\n
\n
now I’m just like focusing on stocks and<\/div>\n<\/div>\n<\/div>\n
\n
\n
very just like short-term moves if I you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know it started to like go back to<\/div>\n<\/div>\n<\/div>\n
\n
\n
options trading that would definitely be<\/div>\n<\/div>\n<\/div>\n
\n
\n
something that I’d be watching I found<\/div>\n<\/div>\n<\/div>\n
\n
\n
from my experience that usually that<\/div>\n<\/div>\n<\/div>\n
\n
\n
works best when you’re trying to<\/div>\n<\/div>\n<\/div>\n
\n
\n
anticipate a breakout or break down and<\/div>\n<\/div>\n<\/div>\n
\n
\n
you let’s say have a higher volume move<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the stock that’s also accompanied by<\/div>\n<\/div>\n<\/div>\n
\n
\n
that options line it’s like let’s say<\/div>\n<\/div>\n<\/div>\n
\n
\n
for example in tests all right it’s kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of been the consolidating at last couple<\/div>\n<\/div>\n<\/div>\n
\n
\n
weeks<\/div>\n<\/div>\n<\/div>\n
\n
\n
what if let’s say today by the close it<\/div>\n<\/div>\n<\/div>\n
\n
\n
just suddenly goes up $20 and you just<\/div>\n<\/div>\n<\/div>\n
\n
\n
see a flurry of call volume it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
probably a good sign that there’s going<\/div>\n<\/div>\n<\/div>\n
\n
\n
to be follow-through the following day<\/div>\n<\/div>\n<\/div>\n
\n
\n
so even if let’s say like you’re not<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading options you can still use that<\/div>\n<\/div>\n<\/div>\n
\n
\n
as a thesis for wanting to play that<\/div>\n<\/div>\n<\/div>\n
\n
\n
momentum the following day because this<\/div>\n<\/div>\n<\/div>\n
\n
\n
probably means that smart money is<\/div>\n<\/div>\n<\/div>\n
\n
\n
starting to pile back into the stock<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s like that’s how I would use it or<\/div>\n<\/div>\n<\/div>\n
\n
\n
haven’t used it yes for like just like<\/div>\n<\/div>\n<\/div>\n
\n
\n
you could see here just kind of had the<\/div>\n<\/div>\n<\/div>\n
\n
\n
smaller you know candles like it wasn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
really doing much and I was making<\/div>\n<\/div>\n<\/div>\n
\n
\n
patterns that weren’t there it’s kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know essentially what this was so<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s going to be a tape reading just<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of like summarizing what for me a<\/div>\n<\/div>\n<\/div>\n
\n
\n
false breakout trade is my trigger was<\/div>\n<\/div>\n<\/div>\n
\n
\n
when I saw the creepiest high break with<\/div>\n<\/div>\n<\/div>\n
\n
\n
little follow-through and then a<\/div>\n<\/div>\n<\/div>\n
\n
\n
subsequent pullin and failure to go back<\/div>\n<\/div>\n<\/div>\n
\n
\n
to the high quickly so the reason why<\/div>\n<\/div>\n<\/div>\n
\n
\n
this would be they might trigger is that<\/div>\n<\/div>\n<\/div>\n
\n
\n
I figured the new high was based on a<\/div>\n<\/div>\n<\/div>\n
\n
\n
stop run and that there were sellers<\/div>\n<\/div>\n<\/div>\n
\n
\n
that were waiting there there’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
potentially a heavy area and that this<\/div>\n<\/div>\n<\/div>\n
\n
\n
was kind of finally the move and you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know my best was kind of the idea behind<\/div>\n<\/div>\n<\/div>\n
\n
\n
a false breakout trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
I think these traits are a lot easier in<\/div>\n<\/div>\n<\/div>\n
\n
\n
stocks that are cheaper and much more<\/div>\n<\/div>\n<\/div>\n
\n
\n
thick because you can clearly see when a<\/div>\n<\/div>\n<\/div>\n
\n
\n
very particular price is holding so for<\/div>\n<\/div>\n<\/div>\n
\n
\n
example I’ve been trading LK a lot the<\/div>\n<\/div>\n<\/div>\n
\n
\n
last couple of days<\/div>\n<\/div>\n<\/div>\n
\n
\n
a $2.00 stock it’s the Chinese name that<\/div>\n<\/div>\n<\/div>\n
\n
\n
had the accounting fraud and one of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
main triggers for me we’d be seeing it<\/div>\n<\/div>\n<\/div>\n
\n
\n
come up or come down to a whatever price<\/div>\n<\/div>\n<\/div>\n
\n
\n
that was either support or resistance<\/div>\n<\/div>\n<\/div>\n
\n
\n
see them really hammer that price but it<\/div>\n<\/div>\n<\/div>\n
\n
\n
just not drop or not break and then see<\/div>\n<\/div>\n<\/div>\n
\n
\n
the opposite side so if let’s say it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
trying to break out and there was a held<\/div>\n<\/div>\n<\/div>\n
\n
\n
offer and then see like the bid start to<\/div>\n<\/div>\n<\/div>\n
\n
\n
decrement that would tell me that<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s a seller there that is not<\/div>\n<\/div>\n<\/div>\n
\n
\n
budging so kind of the same theory here<\/div>\n<\/div>\n<\/div>\n
\n
\n
except in Twilio a 170 our stock that<\/div>\n<\/div>\n<\/div>\n
\n
\n
has a spread of 25 cents it’s obviously<\/div>\n<\/div>\n<\/div>\n
\n
\n
harder to see a held price because<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s not gonna be as much liquidity<\/div>\n<\/div>\n<\/div>\n
\n
\n
percent that there would be in let’s say<\/div>\n<\/div>\n<\/div>\n
\n
\n
a $2.00 stock so this trade could work<\/div>\n<\/div>\n<\/div>\n
\n
\n
better in something like a a lk rather<\/div>\n<\/div>\n<\/div>\n
\n
\n
than that of a toyou so just kind of a<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade reviews going back this month this<\/div>\n<\/div>\n<\/div>\n
\n
\n
is overall my worst trade setup and you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know is trying to play false breakouts<\/div>\n<\/div>\n<\/div>\n
\n
\n
the reason I tried adding this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
because if you’re clearly able to see<\/div>\n<\/div>\n<\/div>\n
\n
\n
the false breakout usually it’s a start<\/div>\n<\/div>\n<\/div>\n
\n
\n
of a trend reversal and then you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
basically in from the best price and you<\/div>\n<\/div>\n<\/div>\n
\n
\n
can you know add along the way like if<\/div>\n<\/div>\n<\/div>\n
\n
\n
let’s say I was actually right on this<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade and this thing just crashed right<\/div>\n<\/div>\n<\/div>\n
\n
\n
through 170 broke the low that was<\/div>\n<\/div>\n<\/div>\n
\n
\n
before on the Jerry and spoke I<\/div>\n<\/div>\n<\/div>\n
\n
\n
basically would have a starter position<\/div>\n<\/div>\n<\/div>\n
\n
\n
from an incredible price and that’s kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of my thinking but you know just kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
saying it it definitely sounds as though<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s kind of more Hope than actual<\/div>\n<\/div>\n<\/div>\n
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sound trading logic when you’re trying<\/div>\n<\/div>\n<\/div>\n
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just to pick out points in a chart that<\/div>\n<\/div>\n<\/div>\n
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hadn’t proven to be significant yet and<\/div>\n<\/div>\n<\/div>\n
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that’s something that I’ve quickly<\/div>\n<\/div>\n<\/div>\n
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realized you know for all my trading<\/div>\n<\/div>\n<\/div>\n
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that is midday and how that’s been kind<\/div>\n<\/div>\n<\/div>\n
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of my biggest focus you know over the<\/div>\n<\/div>\n<\/div>\n
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last month or two is really cutting back<\/div>\n<\/div>\n<\/div>\n
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and not completely eliminating mid day<\/div>\n<\/div>\n<\/div>\n
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trades but just picking my spots more<\/div>\n<\/div>\n<\/div>\n
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carefully and really just having better<\/div>\n<\/div>\n<\/div>\n
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reasons to be in what I’m in max are you<\/div>\n<\/div>\n<\/div>\n
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tracking<\/div>\n<\/div>\n<\/div>\n
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your fake breakout trades in trader view<\/div>\n<\/div>\n<\/div>\n
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and measuring your trading stats for<\/div>\n<\/div>\n<\/div>\n
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that particular type of trade yes so<\/div>\n<\/div>\n<\/div>\n
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this tag for me is false breakouts right<\/div>\n<\/div>\n<\/div>\n
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and that tag is my worst one currently<\/div>\n<\/div>\n<\/div>\n
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well there you go yeah<\/div>\n<\/div>\n<\/div>\n
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so yeah so I think that that’s it again<\/div>\n<\/div>\n<\/div>\n
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I mean it’s it’s one thing to say<\/div>\n<\/div>\n<\/div>\n
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anecdotally I feel that my worst trades<\/div>\n<\/div>\n<\/div>\n
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are fake breakout trades you might be<\/div>\n<\/div>\n<\/div>\n
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right about that it’s another thing to<\/div>\n<\/div>\n<\/div>\n
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say<\/div>\n<\/div>\n<\/div>\n
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I measured and studied my fake breakout<\/div>\n<\/div>\n<\/div>\n
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trades after I’ve tagged every single<\/div>\n<\/div>\n<\/div>\n
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one of them in trader view and in fact<\/div>\n<\/div>\n<\/div>\n
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they are my worst trades statistically<\/div>\n<\/div>\n<\/div>\n
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and then now I got to do something about<\/div>\n<\/div>\n<\/div>\n
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that which is either a eliminate them<\/div>\n<\/div>\n<\/div>\n
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completely or tweak them so that you<\/div>\n<\/div>\n<\/div>\n
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keep the ones that might work or get<\/div>\n<\/div>\n<\/div>\n
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better at at the ones though there may<\/div>\n<\/div>\n<\/div>\n
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not so super important to do that so you<\/div>\n<\/div>\n<\/div>\n
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and I were talking a little bit about<\/div>\n<\/div>\n<\/div>\n
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this offline and one of the things that<\/div>\n<\/div>\n<\/div>\n
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I see when really really elite<\/div>\n<\/div>\n<\/div>\n
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discretionary traders do very very well<\/div>\n<\/div>\n<\/div>\n
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save a save a few there there are some<\/div>\n<\/div>\n<\/div>\n
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discretionary traders where this will<\/div>\n<\/div>\n<\/div>\n
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not apply but but a large majority of<\/div>\n<\/div>\n<\/div>\n
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them do better when they put rules in<\/div>\n<\/div>\n<\/div>\n
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place they do better when they put more<\/div>\n<\/div>\n<\/div>\n
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variables specific variables into the<\/div>\n<\/div>\n<\/div>\n
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trades that they trade best that they<\/div>\n<\/div>\n<\/div>\n
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understand and they can they can say in<\/div>\n<\/div>\n<\/div>\n
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detail when I’m looking for a fake<\/div>\n<\/div>\n<\/div>\n
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breakout trade I want to see XYZ 1 2 3<\/div>\n<\/div>\n<\/div>\n
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when I see traders not trading at their<\/div>\n<\/div>\n<\/div>\n
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best or when I see traders<\/div>\n<\/div>\n<\/div>\n
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underperforming they have general<\/div>\n<\/div>\n<\/div>\n
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comments about their trading and the<\/div>\n<\/div>\n<\/div>\n
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trades that they’re not trading<\/div>\n<\/div>\n<\/div>\n
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particularly well and so one of the<\/div>\n<\/div>\n<\/div>\n
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things that you can think about here is<\/div>\n<\/div>\n<\/div>\n
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being really really specific about the<\/div>\n<\/div>\n<\/div>\n
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fake breakout trade you want to take so<\/div>\n<\/div>\n<\/div>\n
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you’re making a great distinction mid<\/div>\n<\/div>\n<\/div>\n
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day is probably not the best time to<\/div>\n<\/div>\n<\/div>\n
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take it if you’re making a good<\/div>\n<\/div>\n<\/div>\n
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distinction by saying I want to see the<\/div>\n<\/div>\n<\/div>\n
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type of volume that gets me into the<\/div>\n<\/div>\n<\/div>\n
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trade so you know some ideas for people<\/div>\n<\/div>\n<\/div>\n
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to be thinking about for fake breakout<\/div>\n<\/div>\n<\/div>\n
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trades and any rules to that is what is<\/div>\n<\/div>\n<\/div>\n
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the time of day that these trades are<\/div>\n<\/div>\n<\/div>\n
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most likely to work you’re gonna have<\/div>\n<\/div>\n<\/div>\n
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completely different results for this<\/div>\n<\/div>\n<\/div>\n
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trade open mid day close period full<\/div>\n<\/div>\n<\/div>\n
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stop the volume explosion or lack<\/div>\n<\/div>\n<\/div>\n
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thereof do you want to tell me what you<\/div>\n<\/div>\n<\/div>\n
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mean by that<\/div>\n<\/div>\n<\/div>\n
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sure yeah so like for example right when<\/div>\n<\/div>\n<\/div>\n
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the other was that 170 break that came<\/div>\n<\/div>\n<\/div>\n
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on strong volume right so there’s less<\/div>\n<\/div>\n<\/div>\n
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reason to doubt that breakout then if<\/div>\n<\/div>\n<\/div>\n
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let’s say that was one of the lowest<\/div>\n<\/div>\n<\/div>\n
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volume bars of the day because I keep in<\/div>\n<\/div>\n<\/div>\n
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mind if we’re trying to trade a false<\/div>\n<\/div>\n<\/div>\n
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breakout or break down rather than<\/div>\n<\/div>\n<\/div>\n
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wanting to see the Vonn come in we want<\/div>\n<\/div>\n<\/div>\n
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to see the volume not come in as kind of<\/div>\n<\/div>\n<\/div>\n
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the way to have confirmation right that<\/div>\n<\/div>\n<\/div>\n
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\n
you know the trend should go to the<\/div>\n<\/div>\n<\/div>\n
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opposite because there’s not that much<\/div>\n<\/div>\n<\/div>\n
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commitment in that final move so I think<\/div>\n<\/div>\n<\/div>\n
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that that is one of the biggest factors<\/div>\n<\/div>\n<\/div>\n
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\n
and the same way how in the follow of<\/div>\n<\/div>\n<\/div>\n
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traits you know are only 172<\/div>\n<\/div>\n<\/div>\n
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\n
there was not that much volume on the<\/div>\n<\/div>\n<\/div>\n
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Poland’s right so really for that to<\/div>\n<\/div>\n<\/div>\n
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have worked there should have been the<\/div>\n<\/div>\n<\/div>\n
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low volume continuation from 170 and<\/div>\n<\/div>\n<\/div>\n
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then the sharp red bars with bigger<\/div>\n<\/div>\n<\/div>\n
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volume and that would have served as<\/div>\n<\/div>\n<\/div>\n
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more confirmation that I was right<\/div>\n<\/div>\n<\/div>\n
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\n
rather than these just being regular<\/div>\n<\/div>\n<\/div>\n
\n
\n
trades and part just kind of the mid day<\/div>\n<\/div>\n<\/div>\n
\n
\n
sure so let me jump back in here it’s<\/div>\n<\/div>\n<\/div>\n
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gonna matter how much the stock actually<\/div>\n<\/div>\n<\/div>\n
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\n
gaps up on the open there’s going to be<\/div>\n<\/div>\n<\/div>\n
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different expectations of today as to<\/div>\n<\/div>\n<\/div>\n
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how stocks move if they gap up one<\/div>\n<\/div>\n<\/div>\n
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percent relative if they gap up 20-plus<\/div>\n<\/div>\n<\/div>\n
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percent<\/div>\n<\/div>\n<\/div>\n
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there’s gonna be and you’re gonna you’re<\/div>\n<\/div>\n<\/div>\n
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gonna want to craft rules around gap up<\/div>\n<\/div>\n<\/div>\n
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percentages or think about that one of<\/div>\n<\/div>\n<\/div>\n
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the other things that you might think<\/div>\n<\/div>\n<\/div>\n
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about and I know shark does this really<\/div>\n<\/div>\n<\/div>\n
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\n
well when you’re looking for things to<\/div>\n<\/div>\n<\/div>\n
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turn is yes the example that you’re<\/div>\n<\/div>\n<\/div>\n
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talking about on the tape but there’s<\/div>\n<\/div>\n<\/div>\n
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another example on the tape that this is<\/div>\n<\/div>\n<\/div>\n
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this is a very old-school insider<\/div>\n<\/div>\n<\/div>\n
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baseball tape breeding signal that we<\/div>\n<\/div>\n<\/div>\n
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used to talk about back in the day when<\/div>\n<\/div>\n<\/div>\n
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the markets were really really strong<\/div>\n<\/div>\n<\/div>\n
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that really typify the turning point and<\/div>\n<\/div>\n<\/div>\n
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that is heaviness on the tape so<\/div>\n<\/div>\n<\/div>\n
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something makes a new high and does<\/div>\n<\/div>\n<\/div>\n
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trade a little bit higher but it’s much<\/div>\n<\/div>\n<\/div>\n
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harder for the stock to go up it’s not<\/div>\n<\/div>\n<\/div>\n
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going up as much as it did and it’s<\/div>\n<\/div>\n<\/div>\n
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passed moves and there’s still lots of<\/div>\n<\/div>\n<\/div>\n
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volume coming in we call it heaviness on<\/div>\n<\/div>\n<\/div>\n
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the tape and that can be a way for you<\/div>\n<\/div>\n<\/div>\n
\n
\n
and this might be a different trade for<\/div>\n<\/div>\n<\/div>\n
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\n
you overall this might be a different<\/div>\n<\/div>\n<\/div>\n
\n
\n
name and have a different tag but that’s<\/div>\n<\/div>\n<\/div>\n
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\n
gonna be something that you look at and<\/div>\n<\/div>\n<\/div>\n
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that’s gonna have a different entry<\/div>\n<\/div>\n<\/div>\n
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requirement and you should be thinking<\/div>\n<\/div>\n<\/div>\n
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about entry requirements for this<\/div>\n<\/div>\n<\/div>\n
\n
\n
overall so for fake breakouts are you<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna be the one who shorts that into<\/div>\n<\/div>\n<\/div>\n
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\n
the fake breakout with a stop against<\/div>\n<\/div>\n<\/div>\n
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the high or are you gonna watch to see<\/div>\n<\/div>\n<\/div>\n
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it make that faint breakout pull in and<\/div>\n<\/div>\n<\/div>\n
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then short it at a much lower price<\/div>\n<\/div>\n<\/div>\n
\n
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after it’s made that fake breakout<\/div>\n<\/div>\n<\/div>\n
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\n
pulled in and it’s now much lower with<\/div>\n<\/div>\n<\/div>\n
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\n
the stop against the high that’s gonna<\/div>\n<\/div>\n<\/div>\n
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be you’re gonna have to set rules for<\/div>\n<\/div>\n<\/div>\n
\n
\n
how you enter these fake breakouts and<\/div>\n<\/div>\n<\/div>\n
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\n
it’s going to matter whether or not you<\/div>\n<\/div>\n<\/div>\n
\n
\n
do short into the fake breakout or if<\/div>\n<\/div>\n<\/div>\n
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\n
you short a little bit lower you’re<\/div>\n<\/div>\n<\/div>\n
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gonna start to come up with a thesis as<\/div>\n<\/div>\n<\/div>\n
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to whether or not the news catalyst is<\/div>\n<\/div>\n<\/div>\n
\n
\n
overvalued and you may you might develop<\/div>\n<\/div>\n<\/div>\n
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\n
rules over that<\/div>\n<\/div>\n<\/div>\n
\n
\n
so there might be certain things you to<\/div>\n<\/div>\n<\/div>\n
\n
\n
stay away from a day one blowout<\/div>\n<\/div>\n<\/div>\n
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\n
earnings blowout new product it might be<\/div>\n<\/div>\n<\/div>\n
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something you don’t take for a fray for<\/div>\n<\/div>\n<\/div>\n
\n
\n
a fake breakout daily chart over<\/div>\n<\/div>\n<\/div>\n
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extension it’s gonna matter if this is<\/div>\n<\/div>\n<\/div>\n
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overextended on the daily chart relative<\/div>\n<\/div>\n<\/div>\n
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to it just made a new high on the daily<\/div>\n<\/div>\n<\/div>\n
\n
\n
chart and you’re gonna want to develop<\/div>\n<\/div>\n<\/div>\n
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\n
rules for that it’s gonna be a better<\/div>\n<\/div>\n<\/div>\n
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\n
they breakout trade if we’re<\/div>\n<\/div>\n<\/div>\n
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\n
overextended on our daily chart and now<\/div>\n<\/div>\n<\/div>\n
\n
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we’re finding an over extension on our<\/div>\n<\/div>\n<\/div>\n
\n
\n
intraday charts to make that to trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
that turn you’re gonna obviously make<\/div>\n<\/div>\n<\/div>\n
\n
\n
more with something overextended on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
daily chart and then you see it<\/div>\n<\/div>\n<\/div>\n
\n
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overextended on the intraday chart and a<\/div>\n<\/div>\n<\/div>\n
\n
\n
turn then something that is not<\/div>\n<\/div>\n<\/div>\n
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\n
overextended on daily chart because it<\/div>\n<\/div>\n<\/div>\n
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has so much more that it can possibly go<\/div>\n<\/div>\n<\/div>\n
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down distance from B while so hey if<\/div>\n<\/div>\n<\/div>\n
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this is 280 RS away from V well then<\/div>\n<\/div>\n<\/div>\n
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you’ve got more you can make if you’re<\/div>\n<\/div>\n<\/div>\n
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\n
making a return into V wah then if it’s<\/div>\n<\/div>\n<\/div>\n
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50 cents away from from vo so how far<\/div>\n<\/div>\n<\/div>\n
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away it is intraday how extended it<\/div>\n<\/div>\n<\/div>\n
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overall it is intraday you can develop<\/div>\n<\/div>\n<\/div>\n
\n
\n
rules based on technical indicators and<\/div>\n<\/div>\n<\/div>\n
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\n
go from there I also think one of the<\/div>\n<\/div>\n<\/div>\n
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things that really really good tape<\/div>\n<\/div>\n<\/div>\n
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readers do really really good active<\/div>\n<\/div>\n<\/div>\n
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traders do is that let’s say they give<\/div>\n<\/div>\n<\/div>\n
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it a shot on a fake breakout they think<\/div>\n<\/div>\n<\/div>\n
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they see it they short it I think this<\/div>\n<\/div>\n<\/div>\n
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is towards the top they watch what it<\/div>\n<\/div>\n<\/div>\n
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looks like when it’s pulling in and they<\/div>\n<\/div>\n<\/div>\n
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know what it’s supposed to look like<\/div>\n<\/div>\n<\/div>\n
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when the stock is going to crack and if<\/div>\n<\/div>\n<\/div>\n
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it doesn’t crack they make a trade<\/div>\n<\/div>\n<\/div>\n
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decision quickly to lighten up or to get<\/div>\n<\/div>\n<\/div>\n
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flat they know that when it’s pulling in<\/div>\n<\/div>\n<\/div>\n
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\n
if they’re just too much buying on the<\/div>\n<\/div>\n<\/div>\n
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bid that that’s a trade decision for<\/div>\n<\/div>\n<\/div>\n
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them and they probably should get flat<\/div>\n<\/div>\n<\/div>\n
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so<\/div>\n<\/div>\n<\/div>\n
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they can minimize bad decisions too<\/div>\n<\/div>\n<\/div>\n
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short and too fake breakouts they can<\/div>\n<\/div>\n<\/div>\n
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improve their overall resort that their<\/div>\n<\/div>\n<\/div>\n
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overall desert results for these great<\/div>\n<\/div>\n<\/div>\n
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breakout trades because they can get out<\/div>\n<\/div>\n<\/div>\n
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of their losing trades based on<\/div>\n<\/div>\n<\/div>\n
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\n
observation on the tape and rules they<\/div>\n<\/div>\n<\/div>\n
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can develop on the tape to take a little<\/div>\n<\/div>\n<\/div>\n
\n
\n
bit lighter losses when they’re when<\/div>\n<\/div>\n<\/div>\n
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\n
they’re not right and then you can you<\/div>\n<\/div>\n<\/div>\n
\n
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can develop rules about how’s the market<\/div>\n<\/div>\n<\/div>\n
\n
\n
doing how this have the stocks in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
sector doing how’s the sector ETF doing<\/div>\n<\/div>\n<\/div>\n
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if it’s not cratering you may decide to<\/div>\n<\/div>\n<\/div>\n
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\n
make trade decisions based on that I’m<\/div>\n<\/div>\n<\/div>\n
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not suggesting to you and any means that<\/div>\n<\/div>\n<\/div>\n
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\n
you should be thinking about all of<\/div>\n<\/div>\n<\/div>\n
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\n
these things I’m not suggesting to you<\/div>\n<\/div>\n<\/div>\n
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\n
you need to do that I’m saying to you<\/div>\n<\/div>\n<\/div>\n
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\n
you will see improvement if you’re in<\/div>\n<\/div>\n<\/div>\n
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\n
the group of the minority the majority<\/div>\n<\/div>\n<\/div>\n
\n
\n
of traders who do better when they put<\/div>\n<\/div>\n<\/div>\n
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rules in place the odds are you probably<\/div>\n<\/div>\n<\/div>\n
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\n
are one of those traders when you’re<\/div>\n<\/div>\n<\/div>\n
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\n
thinking about your trades and you don’t<\/div>\n<\/div>\n<\/div>\n
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\n
have to be not suggesting you should be<\/div>\n<\/div>\n<\/div>\n
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\n
100% systematic I’m just saying be more<\/div>\n<\/div>\n<\/div>\n
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systematic<\/div>\n<\/div>\n<\/div>\n
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\n
I’m not saying be a hundred percent rule<\/div>\n<\/div>\n<\/div>\n
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\n
base I’m just saying be more rule-based<\/div>\n<\/div>\n<\/div>\n
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\n
and that will get you to make a couple<\/div>\n<\/div>\n<\/div>\n
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\n
of jumps of improvement in this type of<\/div>\n<\/div>\n<\/div>\n
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\n
trade 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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take the time to add your feedback in<\/div>\n<\/div>\n<\/div>\n
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\n
the comment section for what videos<\/div>\n<\/div>\n<\/div>\n
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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<\/div>\n

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

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

In this video, we share one important reason why you are making losing trades. 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