{"id":50020,"date":"2020-07-30T15:53:18","date_gmt":"2020-07-30T19:53:18","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50020"},"modified":"2023-06-08T10:36:35","modified_gmt":"2023-06-08T14:36:35","slug":"exit-strategies-for-your-trading-to-lock-in-more-profits-be-definitive","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/exit-strategies-for-your-trading-to-lock-in-more-profits-be-definitive","title":{"rendered":"Exit Strategies for Your Trading: Be Definitive and Lock In More Profits"},"content":{"rendered":"

In this video, learn exit strategies for your trading to lock in more profits (be definitive!). Two developing traders break down their exit strategy in a winning technical Tesla trade, with critical feedback from Mike. Let\u2019s get to work on sharing these important trading lessons so you can grow your trading account.<\/p>\nView Video Transcript<\/strong><\/span>

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in this video learn exit strategies for<\/div>\n<\/div>\n<\/div>\n
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your trading<\/div>\n<\/div>\n<\/div>\n
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to lock in more profits be definitive<\/div>\n<\/div>\n<\/div>\n
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hi i’m mike bella fury co-founder of smb<\/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<\/div>\n<\/div>\n<\/div>\n
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and i’m also the author of the trading<\/div>\n<\/div>\n<\/div>\n
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classic one good trade and the playbook<\/div>\n<\/div>\n<\/div>\n
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click our subscribe button so you don’t<\/div>\n<\/div>\n<\/div>\n
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miss any of the videos they’re producing<\/div>\n<\/div>\n<\/div>\n
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for you<\/div>\n<\/div>\n<\/div>\n
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in the trading community in this video<\/div>\n<\/div>\n<\/div>\n
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two developing traders<\/div>\n<\/div>\n<\/div>\n
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break down their exit strategy in a<\/div>\n<\/div>\n<\/div>\n
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winning technical<\/div>\n<\/div>\n<\/div>\n
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tesla trade with critical feedback from<\/div>\n<\/div>\n<\/div>\n
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me<\/div>\n<\/div>\n<\/div>\n
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let’s get to work on sharing these<\/div>\n<\/div>\n<\/div>\n
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important trading lessons<\/div>\n<\/div>\n<\/div>\n
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so you can grow your trading account so<\/div>\n<\/div>\n<\/div>\n
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this is a higher time frame<\/div>\n<\/div>\n<\/div>\n
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consolidation<\/div>\n<\/div>\n<\/div>\n
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short squeeze into all-time highs in<\/div>\n<\/div>\n<\/div>\n
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tesla<\/div>\n<\/div>\n<\/div>\n
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which has been a stock that continues to<\/div>\n<\/div>\n<\/div>\n
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break higher with outstanding<\/div>\n<\/div>\n<\/div>\n
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follow-through and volume price action<\/div>\n<\/div>\n<\/div>\n
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and fundamentals<\/div>\n<\/div>\n<\/div>\n
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this is a trade that both nathan and i<\/div>\n<\/div>\n<\/div>\n
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took long at different times in the day<\/div>\n<\/div>\n<\/div>\n
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and<\/div>\n<\/div>\n<\/div>\n
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it had similar technical variables that<\/div>\n<\/div>\n<\/div>\n
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we distinguished to have<\/div>\n<\/div>\n<\/div>\n
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an edge the setup that we saw in this<\/div>\n<\/div>\n<\/div>\n
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trade was a big dog<\/div>\n<\/div>\n<\/div>\n
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these variables have edge and it what’s<\/div>\n<\/div>\n<\/div>\n
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it what creates<\/div>\n<\/div>\n<\/div>\n
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uh the big big dog breakout we want to<\/div>\n<\/div>\n<\/div>\n
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see<\/div>\n<\/div>\n<\/div>\n
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a stock in play with an arville over two<\/div>\n<\/div>\n<\/div>\n
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it’s holding above v-wop<\/div>\n<\/div>\n<\/div>\n
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tight consolidation wedge pattern<\/div>\n<\/div>\n<\/div>\n
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elevated volume confirming the breakout<\/div>\n<\/div>\n<\/div>\n
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significant amount of time in<\/div>\n<\/div>\n<\/div>\n
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consolidation and i think<\/div>\n<\/div>\n<\/div>\n
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the more time it spends in that<\/div>\n<\/div>\n<\/div>\n
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consolidation the more significant<\/div>\n<\/div>\n<\/div>\n
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um the breakout can be volume in that<\/div>\n<\/div>\n<\/div>\n
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wedge is relatively decreased it’s a<\/div>\n<\/div>\n<\/div>\n
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highly shorted stock<\/div>\n<\/div>\n<\/div>\n
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because that adds some fuel to fire and<\/div>\n<\/div>\n<\/div>\n
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then<\/div>\n<\/div>\n<\/div>\n
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um to the back side or you’re to your<\/div>\n<\/div>\n<\/div>\n
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reason to sell you want to see the<\/div>\n<\/div>\n<\/div>\n
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change in character<\/div>\n<\/div>\n<\/div>\n
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some some of these variables can be blow<\/div>\n<\/div>\n<\/div>\n
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off top breaks ema<\/div>\n<\/div>\n<\/div>\n
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you can use atr’s for a guy to do an<\/div>\n<\/div>\n<\/div>\n
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exit do you need to see<\/div>\n<\/div>\n<\/div>\n
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an ascending triangle to make the<\/div>\n<\/div>\n<\/div>\n
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straight no<\/div>\n<\/div>\n<\/div>\n
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it can be a asymmetrical triangle it can<\/div>\n<\/div>\n<\/div>\n
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be<\/div>\n<\/div>\n<\/div>\n
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a wedge formation where it’s it’s higher<\/div>\n<\/div>\n<\/div>\n
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lows and lower highs that wedge into one<\/div>\n<\/div>\n<\/div>\n
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point<\/div>\n<\/div>\n<\/div>\n
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i just i just want to put that in just<\/div>\n<\/div>\n<\/div>\n
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to visualize that the price action gets<\/div>\n<\/div>\n<\/div>\n
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tighter and tighter<\/div>\n<\/div>\n<\/div>\n
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but it absolutely does not have to be<\/div>\n<\/div>\n<\/div>\n
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that flat top where it’s like<\/div>\n<\/div>\n<\/div>\n
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it’s hitting that offer and it’s not<\/div>\n<\/div>\n<\/div>\n
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able to break that offer i gotcha<\/div>\n<\/div>\n<\/div>\n
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and then another reason to sell is a<\/div>\n<\/div>\n<\/div>\n
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series of lower highs<\/div>\n<\/div>\n<\/div>\n
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and on and with the reason to sell i i<\/div>\n<\/div>\n<\/div>\n
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don’t think it should be just one of<\/div>\n<\/div>\n<\/div>\n
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these things<\/div>\n<\/div>\n<\/div>\n
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i think it should be a culmination of a<\/div>\n<\/div>\n<\/div>\n
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couple of them maybe three<\/div>\n<\/div>\n<\/div>\n
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but putting multiple factors together to<\/div>\n<\/div>\n<\/div>\n
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make a decision to reason and sell will<\/div>\n<\/div>\n<\/div>\n
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increase your odds of getting that full<\/div>\n<\/div>\n<\/div>\n
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bulk of the move<\/div>\n<\/div>\n<\/div>\n
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in the big dog because the goal of it is<\/div>\n<\/div>\n<\/div>\n
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to catch um<\/div>\n<\/div>\n<\/div>\n
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the bulk of the move and get big feels<\/div>\n<\/div>\n<\/div>\n
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to me<\/div>\n<\/div>\n<\/div>\n
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like you’re going to get a little bit<\/div>\n<\/div>\n<\/div>\n
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trapped<\/div>\n<\/div>\n<\/div>\n
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knowing whether or not you should get<\/div>\n<\/div>\n<\/div>\n
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out of position based on what you just<\/div>\n<\/div>\n<\/div>\n
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said<\/div>\n<\/div>\n<\/div>\n
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it feels to me like it’s not<\/div>\n<\/div>\n<\/div>\n
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you’re not clear enough on what’s going<\/div>\n<\/div>\n<\/div>\n
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to get you out of this particular<\/div>\n<\/div>\n<\/div>\n
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position<\/div>\n<\/div>\n<\/div>\n
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yeah so you said hey well maybe it<\/div>\n<\/div>\n<\/div>\n
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should be a couple of them together<\/div>\n<\/div>\n<\/div>\n
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i don’t know what that means if we see a<\/div>\n<\/div>\n<\/div>\n
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breakout and it shows the variables of a<\/div>\n<\/div>\n<\/div>\n
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blow off top like um<\/div>\n<\/div>\n<\/div>\n
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we see that big wick up on a one minute<\/div>\n<\/div>\n<\/div>\n
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candle and the volume surging in<\/div>\n<\/div>\n<\/div>\n
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and we see it uh price pull back<\/div>\n<\/div>\n<\/div>\n
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maybe that that that could be that<\/div>\n<\/div>\n<\/div>\n
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would be one of the variables to sell<\/div>\n<\/div>\n<\/div>\n
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but that also could be a pull in and we<\/div>\n<\/div>\n<\/div>\n
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could be watching the tape and you can<\/div>\n<\/div>\n<\/div>\n
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see like oh okay i see<\/div>\n<\/div>\n<\/div>\n
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on the tape that the buyers are still<\/div>\n<\/div>\n<\/div>\n
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holding the bid<\/div>\n<\/div>\n<\/div>\n
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and their most transactions are still in<\/div>\n<\/div>\n<\/div>\n
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the ask so maybe this is a trade that<\/div>\n<\/div>\n<\/div>\n
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can hold for a little longer and we’ll<\/div>\n<\/div>\n<\/div>\n
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see continuation<\/div>\n<\/div>\n<\/div>\n
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as like a false breakout okay look i<\/div>\n<\/div>\n<\/div>\n
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it to you to give that it’s worthwhile<\/div>\n<\/div>\n<\/div>\n
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for you to give that some more thought<\/div>\n<\/div>\n<\/div>\n
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you don’t always have to be exactly<\/div>\n<\/div>\n<\/div>\n
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definitive as to how you can get out<\/div>\n<\/div>\n<\/div>\n
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but i don’t want you to get caught<\/div>\n<\/div>\n<\/div>\n
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not knowing what to do being indecisive<\/div>\n<\/div>\n<\/div>\n
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in real time<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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so strikes me as an area to watch for<\/div>\n<\/div>\n<\/div>\n
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your trading<\/div>\n<\/div>\n<\/div>\n
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to see if you are getting indecisive<\/div>\n<\/div>\n<\/div>\n
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about taking your profits or exiting a<\/div>\n<\/div>\n<\/div>\n
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winning position<\/div>\n<\/div>\n<\/div>\n
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yeah i can jump in and just say um you<\/div>\n<\/div>\n<\/div>\n
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know the idea of this trade is to<\/div>\n<\/div>\n<\/div>\n
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really catch a big move<\/div>\n<\/div>\n<\/div>\n
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so i think once you enter the trade you<\/div>\n<\/div>\n<\/div>\n
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really<\/div>\n<\/div>\n<\/div>\n
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uh you don’t want to try and find that<\/div>\n<\/div>\n<\/div>\n
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reason to sell like it should<\/div>\n<\/div>\n<\/div>\n
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come to you uh you know and i think a<\/div>\n<\/div>\n<\/div>\n
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big<\/div>\n<\/div>\n<\/div>\n
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thing for me and you know with this<\/div>\n<\/div>\n<\/div>\n
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trade would be to maybe move to a<\/div>\n<\/div>\n<\/div>\n
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5 or 15 minute chart look at the bigger<\/div>\n<\/div>\n<\/div>\n
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picture<\/div>\n<\/div>\n<\/div>\n
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and if we have you know a real change<\/div>\n<\/div>\n<\/div>\n
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where<\/div>\n<\/div>\n<\/div>\n
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you know maybe bids or supports are<\/div>\n<\/div>\n<\/div>\n
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dropping where it was previously holding<\/div>\n<\/div>\n<\/div>\n
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and and there’s that really clear change<\/div>\n<\/div>\n<\/div>\n
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on a higher time frame i think<\/div>\n<\/div>\n<\/div>\n
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that could be a good guide for this<\/div>\n<\/div>\n<\/div>\n
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trade<\/div>\n<\/div>\n<\/div>\n
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on a reason to sell 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<\/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<\/div>\n<\/div>\n<\/div>\n
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and the setup that turned one of our<\/div>\n<\/div>\n<\/div>\n
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traders into a seven figure big money<\/div>\n<\/div>\n<\/div>\n
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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<\/div>\n<\/div>\n<\/div>\n
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that’s gonna open up this free<\/div>\n<\/div>\n<\/div>\n
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registration page in the new window<\/div>\n<\/div>\n<\/div>\n
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so don’t worry you’re not going to lose<\/div>\n<\/div>\n<\/div>\n
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this video you’re going to 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 than from<\/div>\n<\/div>\n<\/div>\n
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years of online education i think the<\/div>\n<\/div>\n<\/div>\n
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important things to take out of this<\/div>\n<\/div>\n<\/div>\n
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for tesla trade as we see relative to<\/div>\n<\/div>\n<\/div>\n
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the past four days we’re holding in a<\/div>\n<\/div>\n<\/div>\n
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range between<\/div>\n<\/div>\n<\/div>\n
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310 dollars and 320 dollars and then<\/div>\n<\/div>\n<\/div>\n
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a little bit bigger picture maybe like<\/div>\n<\/div>\n<\/div>\n
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two weeks out we’re holding in a range<\/div>\n<\/div>\n<\/div>\n
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between<\/div>\n<\/div>\n<\/div>\n
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300 and 320 dollars these are different<\/div>\n<\/div>\n<\/div>\n
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sectors<\/div>\n<\/div>\n<\/div>\n
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so we what do you want to take out of<\/div>\n<\/div>\n<\/div>\n
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this is that the momentum names have<\/div>\n<\/div>\n<\/div>\n
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been outperforming so like the tech<\/div>\n<\/div>\n<\/div>\n
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sector<\/div>\n<\/div>\n<\/div>\n
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um the large caps and the qqqs<\/div>\n<\/div>\n<\/div>\n
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and tesla’s uh contributing to this<\/div>\n<\/div>\n<\/div>\n
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outperformance<\/div>\n<\/div>\n<\/div>\n
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coming into this day there wasn’t you<\/div>\n<\/div>\n<\/div>\n
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know a major<\/div>\n<\/div>\n<\/div>\n
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major headline or something that you<\/div>\n<\/div>\n<\/div>\n
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would think should move tesla 100 or 200<\/div>\n<\/div>\n<\/div>\n
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points<\/div>\n<\/div>\n<\/div>\n
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biggest headline that there was is that<\/div>\n<\/div>\n<\/div>\n
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tesla could potentially be added to the<\/div>\n<\/div>\n<\/div>\n
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s<\/div>\n<\/div>\n<\/div>\n
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p 500 um you know obviously this is<\/div>\n<\/div>\n<\/div>\n
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significant<\/div>\n<\/div>\n<\/div>\n
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and it could drive further demand for<\/div>\n<\/div>\n<\/div>\n
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the stock but<\/div>\n<\/div>\n<\/div>\n
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in our opinion i think the bigger uh<\/div>\n<\/div>\n<\/div>\n
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catalyst in this trade is overall<\/div>\n<\/div>\n<\/div>\n
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sentiment<\/div>\n<\/div>\n<\/div>\n
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and psychology coming into this day<\/div>\n<\/div>\n<\/div>\n
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tesla already ran<\/div>\n<\/div>\n<\/div>\n
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almost 50 in a few trading sessions<\/div>\n<\/div>\n<\/div>\n
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after that thousand dollar breakout<\/div>\n<\/div>\n<\/div>\n
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um and it was almost like the entire<\/div>\n<\/div>\n<\/div>\n
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world was talking about tesla<\/div>\n<\/div>\n<\/div>\n
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every financial media network was was<\/div>\n<\/div>\n<\/div>\n
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talking about it<\/div>\n<\/div>\n<\/div>\n
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you know you would see a new headline<\/div>\n<\/div>\n<\/div>\n
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every day tesla surpasses volkswagen’s<\/div>\n<\/div>\n<\/div>\n
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market cap you know it’s the most<\/div>\n<\/div>\n<\/div>\n
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valuable automaker in the world<\/div>\n<\/div>\n<\/div>\n
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you know more valuable than jp morgan so<\/div>\n<\/div>\n<\/div>\n
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you would just<\/div>\n<\/div>\n<\/div>\n
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you know everyone was talking about this<\/div>\n<\/div>\n<\/div>\n
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move obviously when you have such an<\/div>\n<\/div>\n<\/div>\n
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aggressive move<\/div>\n<\/div>\n<\/div>\n
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and you know a cult stock kind of like<\/div>\n<\/div>\n<\/div>\n
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tells<\/div>\n<\/div>\n<\/div>\n
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tesla there’s going to be a lot of<\/div>\n<\/div>\n<\/div>\n
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people<\/div>\n<\/div>\n<\/div>\n
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shorting this move and and tesla is<\/div>\n<\/div>\n<\/div>\n
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already a highly shorted stock you know<\/div>\n<\/div>\n<\/div>\n
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it has those<\/div>\n<\/div>\n<\/div>\n
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kind of perma-bears and you know there<\/div>\n<\/div>\n<\/div>\n
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are definitely funds that want to see<\/div>\n<\/div>\n<\/div>\n
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this<\/div>\n<\/div>\n<\/div>\n
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sub 1000 maybe even in the 500 range<\/div>\n<\/div>\n<\/div>\n
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after a move like this there are going<\/div>\n<\/div>\n<\/div>\n
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to be a lot of people<\/div>\n<\/div>\n<\/div>\n
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with a very extreme psychology um and<\/div>\n<\/div>\n<\/div>\n
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and that was really clear in the<\/div>\n<\/div>\n<\/div>\n
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sentiment you know in financial media<\/div>\n<\/div>\n<\/div>\n
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twitter and you know i even had friends<\/div>\n<\/div>\n<\/div>\n
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who don’t know anything about trading or<\/div>\n<\/div>\n<\/div>\n
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the markets and they’re saying<\/div>\n<\/div>\n<\/div>\n
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what’s going on with tesla you know like<\/div>\n<\/div>\n<\/div>\n
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should i buy tesla<\/div>\n<\/div>\n<\/div>\n
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and usually when you know retail traders<\/div>\n<\/div>\n<\/div>\n
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and people who don’t<\/div>\n<\/div>\n<\/div>\n
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really know anything about the markets<\/div>\n<\/div>\n<\/div>\n
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are asking about stock<\/div>\n<\/div>\n<\/div>\n
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that’s how you know we’re getting to a<\/div>\n<\/div>\n<\/div>\n
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very extreme um<\/div>\n<\/div>\n<\/div>\n
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psychological point so i i would say<\/div>\n<\/div>\n<\/div>\n
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that is the uh<\/div>\n<\/div>\n<\/div>\n
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the real catalyst is you know that<\/div>\n<\/div>\n<\/div>\n
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psychology and sentiment coming into the<\/div>\n<\/div>\n<\/div>\n
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\n
day<\/div>\n<\/div>\n<\/div>\n
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the fundamentals you know tesla has that<\/div>\n<\/div>\n<\/div>\n
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uh elevated short float<\/div>\n<\/div>\n<\/div>\n
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\n
almost 10 percent um it had that crazy<\/div>\n<\/div>\n<\/div>\n
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run<\/div>\n<\/div>\n<\/div>\n
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the previous week that thousand dollar<\/div>\n<\/div>\n<\/div>\n
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\n
breakout it was at<\/div>\n<\/div>\n<\/div>\n
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\n
500-ish just two months earlier<\/div>\n<\/div>\n<\/div>\n
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\n
so it had a crazy move and another<\/div>\n<\/div>\n<\/div>\n
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\n
interesting point that we wanted to talk<\/div>\n<\/div>\n<\/div>\n
\n
\n
about you know that’s been mentioned a<\/div>\n<\/div>\n<\/div>\n
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lot in the past few months<\/div>\n<\/div>\n<\/div>\n
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\n
is the impact that robin hood users<\/div>\n<\/div>\n<\/div>\n
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\n
could have on some of these crazy moves<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know you look at that chart and<\/div>\n<\/div>\n<\/div>\n
\n
\n
you see as tesla’s price<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know just continues to rip higher<\/div>\n<\/div>\n<\/div>\n
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\n
exponentially<\/div>\n<\/div>\n<\/div>\n
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\n
so does the use the number of uh<\/div>\n<\/div>\n<\/div>\n
\n
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robinhood users accumulating the stock<\/div>\n<\/div>\n<\/div>\n
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that retail buying and that pressure<\/div>\n<\/div>\n<\/div>\n
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definitely we believe could have<\/div>\n<\/div>\n<\/div>\n
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contributed to this<\/div>\n<\/div>\n<\/div>\n
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uh squeeze and you know it just shows<\/div>\n<\/div>\n<\/div>\n
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that<\/div>\n<\/div>\n<\/div>\n
\n
\n
there is that demand from retail money<\/div>\n<\/div>\n<\/div>\n
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pushing price higher<\/div>\n<\/div>\n<\/div>\n
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so that that definitely played a role in<\/div>\n<\/div>\n<\/div>\n
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\n
our opinion another point we wanted to<\/div>\n<\/div>\n<\/div>\n
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touch on<\/div>\n<\/div>\n<\/div>\n
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neither of us have enough experience in<\/div>\n<\/div>\n<\/div>\n
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\n
the options market to<\/div>\n<\/div>\n<\/div>\n
\n
\n
really go into detail on this but we<\/div>\n<\/div>\n<\/div>\n
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\n
wanted to see if you could uh<\/div>\n<\/div>\n<\/div>\n
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\n
maybe clarify there was a lot of talk<\/div>\n<\/div>\n<\/div>\n
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that<\/div>\n<\/div>\n<\/div>\n
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it’s kind of like this self-fulfilling<\/div>\n<\/div>\n<\/div>\n
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\n
prophecy where<\/div>\n<\/div>\n<\/div>\n
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people are buying these far out of the<\/div>\n<\/div>\n<\/div>\n
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\n
money calls and that kind of drives the<\/div>\n<\/div>\n<\/div>\n
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\n
market makers and<\/div>\n<\/div>\n<\/div>\n
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option underwriters to try and push the<\/div>\n<\/div>\n<\/div>\n
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stock<\/div>\n<\/div>\n<\/div>\n
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\n
up uh to be in the money in those calls<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the 1480 calls were up by almost<\/div>\n<\/div>\n<\/div>\n
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\n
four thousand percent<\/div>\n<\/div>\n<\/div>\n
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\n
and it was a friday and opex day we<\/div>\n<\/div>\n<\/div>\n
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\n
think this had an<\/div>\n<\/div>\n<\/div>\n
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\n
impact but we we don’t know<\/div>\n<\/div>\n<\/div>\n
\n
\n
um enough about the options markets<\/div>\n<\/div>\n<\/div>\n
\n
\n
really speak on that if you wanted to<\/div>\n<\/div>\n<\/div>\n
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\n
say anything bella do you guys know how<\/div>\n<\/div>\n<\/div>\n
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\n
much volume was being done<\/div>\n<\/div>\n<\/div>\n
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\n
in some of the calls once that breakout<\/div>\n<\/div>\n<\/div>\n
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\n
occurred it was<\/div>\n<\/div>\n<\/div>\n
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\n
it was extreme it was just up yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
i don’t know off the hand but it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
extreme a couple of strategies some guys<\/div>\n<\/div>\n<\/div>\n
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\n
use so some people look for<\/div>\n<\/div>\n<\/div>\n
\n
\n
what’s called unusual options activity<\/div>\n<\/div>\n<\/div>\n
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\n
and that can if you<\/div>\n<\/div>\n<\/div>\n
\n
\n
are select about it potentially give you<\/div>\n<\/div>\n<\/div>\n
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\n
some color as to<\/div>\n<\/div>\n<\/div>\n
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\n
what may be coming in the future and<\/div>\n<\/div>\n<\/div>\n
\n
\n
then<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah if you’re noticing that uh an usual<\/div>\n<\/div>\n<\/div>\n
\n
\n
amount of<\/div>\n<\/div>\n<\/div>\n
\n
\n
action is being done at higher prices<\/div>\n<\/div>\n<\/div>\n
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\n
then can that be a signal for you guys<\/div>\n<\/div>\n<\/div>\n
\n
\n
can i give you a little bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
confidence maybe that’s another way that<\/div>\n<\/div>\n<\/div>\n
\n
\n
people are buying maybe they’re buying<\/div>\n<\/div>\n<\/div>\n
\n
\n
the underlying stock maybe they’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
buying calls<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe the call to put ratio is out of<\/div>\n<\/div>\n<\/div>\n
\n
\n
whack<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you can start to utilize that<\/div>\n<\/div>\n<\/div>\n
\n
\n
in severe decision making then certainly<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know what’s happened with the firm<\/div>\n<\/div>\n<\/div>\n
\n
\n
is after you get good at equity trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
you start to gain the<\/div>\n<\/div>\n<\/div>\n
\n
\n
right to trade in different ways one of<\/div>\n<\/div>\n<\/div>\n
\n
\n
the ways is to be able to express your<\/div>\n<\/div>\n<\/div>\n
\n
\n
positions and options so for example<\/div>\n<\/div>\n<\/div>\n
\n
\n
for example right now amd is one of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
big runners<\/div>\n<\/div>\n<\/div>\n
\n
\n
and well this will be<\/div>\n<\/div>\n<\/div>\n
\n
\n
watched at a date where what i’m about<\/div>\n<\/div>\n<\/div>\n
\n
\n
to say<\/div>\n<\/div>\n<\/div>\n
\n
\n
i can say because our guys positions<\/div>\n<\/div>\n<\/div>\n
\n
\n
wouldn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
won’t be impacted you know but<\/div>\n<\/div>\n<\/div>\n
\n
\n
there were guys who in amd<\/div>\n<\/div>\n<\/div>\n
\n
\n
instead of buying the underlying stock i<\/div>\n<\/div>\n<\/div>\n
\n
\n
either<\/div>\n<\/div>\n<\/div>\n
\n
\n
bought calls expiring today<\/div>\n<\/div>\n<\/div>\n
\n
\n
or out in time<\/div>\n<\/div>\n<\/div>\n
\n
\n
and or bought the underlying stock and<\/div>\n<\/div>\n<\/div>\n
\n
\n
so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that was a way that they have learned to<\/div>\n<\/div>\n<\/div>\n
\n
\n
express<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh their traits so<\/div>\n<\/div>\n<\/div>\n
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\n
yeah i mean good to be good to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking at this<\/div>\n<\/div>\n<\/div>\n
\n
\n
so here’s the big picture chart of tesla<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can see just how absolutely<\/div>\n<\/div>\n<\/div>\n
\n
\n
extreme that breakout was after a<\/div>\n<\/div>\n<\/div>\n
\n
\n
thousand<\/div>\n<\/div>\n<\/div>\n
\n
\n
coming into this day we had those three<\/div>\n<\/div>\n<\/div>\n
\n
\n
days<\/div>\n<\/div>\n<\/div>\n
\n
\n
of of somewhat consolidation and lighter<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that was after we already had that<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout from a thousand and touched<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh like 14 30 almost<\/div>\n<\/div>\n<\/div>\n
\n
\n
and at this point you can just imagine<\/div>\n<\/div>\n<\/div>\n
\n
\n
how many people<\/div>\n<\/div>\n<\/div>\n
\n
\n
would be shorting that move and maybe<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
not totally irrational you know a fifth<\/div>\n<\/div>\n<\/div>\n
\n
\n
almost 50 move in<\/div>\n<\/div>\n<\/div>\n
\n
\n
in about a week but there are a lot of<\/div>\n<\/div>\n<\/div>\n
\n
\n
people<\/div>\n<\/div>\n<\/div>\n
\n
\n
that are now wanting to see this break<\/div>\n<\/div>\n<\/div>\n
\n
\n
down and<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it almost it does that a few days<\/div>\n<\/div>\n<\/div>\n
\n
\n
before<\/div>\n<\/div>\n<\/div>\n
\n
\n
but it holds so price not being able to<\/div>\n<\/div>\n<\/div>\n
\n
\n
break down<\/div>\n<\/div>\n<\/div>\n
\n
\n
on that daily chart is a very very<\/div>\n<\/div>\n<\/div>\n
\n
\n
significant<\/div>\n<\/div>\n<\/div>\n
\n
\n
tell during this intraday we experience<\/div>\n<\/div>\n<\/div>\n
\n
\n
two wedges form<\/div>\n<\/div>\n<\/div>\n
\n
\n
the first one i liked really a lot more<\/div>\n<\/div>\n<\/div>\n
\n
\n
but i didn’t see it coming<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re seeing it the price get tighter<\/div>\n<\/div>\n<\/div>\n
\n
\n
and tighter and tighter and that volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
just stay low low low and we’re also<\/div>\n<\/div>\n<\/div>\n
\n
\n
wedging right up<\/div>\n<\/div>\n<\/div>\n
\n
\n
up against all-time highs which previous<\/div>\n<\/div>\n<\/div>\n
\n
\n
to this breakout was<\/div>\n<\/div>\n<\/div>\n
\n
\n
1429. we get this move higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we form into another wedge<\/div>\n<\/div>\n<\/div>\n
\n
\n
showing that the sellers aren’t really<\/div>\n<\/div>\n<\/div>\n
\n
\n
interested<\/div>\n<\/div>\n<\/div>\n
\n
\n
in getting bigger in the positions and<\/div>\n<\/div>\n<\/div>\n
\n
\n
the longs aren’t really interested in<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting out of their positions<\/div>\n<\/div>\n<\/div>\n
\n
\n
so we’re just holding higher we’re just<\/div>\n<\/div>\n<\/div>\n
\n
\n
holding higher and<\/div>\n<\/div>\n<\/div>\n
\n
\n
yet again we get that lower yield<\/div>\n<\/div>\n<\/div>\n
\n
\n
relative volume and then we get the<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout on<\/div>\n<\/div>\n<\/div>\n
\n
\n
elevated volume an interesting part<\/div>\n<\/div>\n<\/div>\n
\n
\n
about this trade and why coleman and i<\/div>\n<\/div>\n<\/div>\n
\n
\n
wanted to collaborate on it<\/div>\n<\/div>\n<\/div>\n
\n
\n
is because i took the first wedge<\/div>\n<\/div>\n<\/div>\n
\n
\n
and coleman took that second breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
and on this first wedge you know i was<\/div>\n<\/div>\n<\/div>\n
\n
\n
watching tesla the entire morning it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
top watch for the day<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i actually tried this uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
move right here uh that first attempt at<\/div>\n<\/div>\n<\/div>\n
\n
\n
breaking out from 1420<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that move did not work so i had<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know that previous context of what a<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout that didn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
work looked like and then i saw you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
the breakout that did work<\/div>\n<\/div>\n<\/div>\n
\n
\n
why i was watching this very closely and<\/div>\n<\/div>\n<\/div>\n
\n
\n
and why i thought it could be an<\/div>\n<\/div>\n<\/div>\n
\n
\n
absolutely massive trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
is because i i was really thinking about<\/div>\n<\/div>\n<\/div>\n
\n
\n
where<\/div>\n<\/div>\n<\/div>\n
\n
\n
other big participants were positioned<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know it all comes down to that<\/div>\n<\/div>\n<\/div>\n
\n
\n
psychology that sentiment<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know elon musk releasing those short<\/div>\n<\/div>\n<\/div>\n
\n
\n
shorts mocking short sellers the sec<\/div>\n<\/div>\n<\/div>\n
\n
\n
everyone talking about tesla like 1429<\/div>\n<\/div>\n<\/div>\n
\n
\n
that previous all-time high<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s where you know all those shorts<\/div>\n<\/div>\n<\/div>\n
\n
\n
logically would be risking off of so<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh this wedge right under that level<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know a lot of shorts would be<\/div>\n<\/div>\n<\/div>\n
\n
\n
nervous at this point and<\/div>\n<\/div>\n<\/div>\n
\n
\n
when that breakout happened on elevated<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh that is showing us that yeah our<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade is<\/div>\n<\/div>\n<\/div>\n
\n
\n
working there are now new players<\/div>\n<\/div>\n<\/div>\n
\n
\n
entering<\/div>\n<\/div>\n<\/div>\n
\n
\n
this trade there are those shorts that<\/div>\n<\/div>\n<\/div>\n
\n
\n
are now trapped and have to exit<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh running for the gates and you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
there are now you know new algos new<\/div>\n<\/div>\n<\/div>\n
\n
\n
funds coming in<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh and driving price higher all right so<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
wedge two this is the trade that i took<\/div>\n<\/div>\n<\/div>\n
\n
\n
um i think some of the important<\/div>\n<\/div>\n<\/div>\n
\n
\n
variables to see here is that<\/div>\n<\/div>\n<\/div>\n
\n
\n
now we’re in right into new all-time<\/div>\n<\/div>\n<\/div>\n
\n
\n
high territory so there really isn’t too<\/div>\n<\/div>\n<\/div>\n
\n
\n
much risk resistance above<\/div>\n<\/div>\n<\/div>\n
\n
\n
um prices um above one atr from opening<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s holding half of atr from v wop<\/div>\n<\/div>\n<\/div>\n
\n
\n
so it’s much more extended compared to<\/div>\n<\/div>\n<\/div>\n
\n
\n
the first wedge the time of day is<\/div>\n<\/div>\n<\/div>\n
\n
\n
different<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re holding around 1 30 to 3 p.m in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the afternoon<\/div>\n<\/div>\n<\/div>\n
\n
\n
the time it held in the wedge was 36<\/div>\n<\/div>\n<\/div>\n
\n
\n
minutes and<\/div>\n<\/div>\n<\/div>\n
\n
\n
another thing i thought was very<\/div>\n<\/div>\n<\/div>\n
\n
\n
interesting is it’s wedging right up<\/div>\n<\/div>\n<\/div>\n
\n
\n
against a huge psychological number of<\/div>\n<\/div>\n<\/div>\n
\n
\n
1500<\/div>\n<\/div>\n<\/div>\n
\n
\n
and uh same thing with the dried up<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume and then we get that breakout on<\/div>\n<\/div>\n<\/div>\n
\n
\n
elevated volume so this is just uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
a quick venn diagram we we made just<\/div>\n<\/div>\n<\/div>\n
\n
\n
showing that<\/div>\n<\/div>\n<\/div>\n
\n
\n
these are uh very similar setups but<\/div>\n<\/div>\n<\/div>\n
\n
\n
they have their slight<\/div>\n<\/div>\n<\/div>\n
\n
\n
nuanced uh differences the first wedge<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh within half an atr v-wap still below<\/div>\n<\/div>\n<\/div>\n
\n
\n
all-time highs so you know shorts were<\/div>\n<\/div>\n<\/div>\n
\n
\n
still okay at that point when it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidating<\/div>\n<\/div>\n<\/div>\n
\n
\n
um time of day it’s actually interesting<\/div>\n<\/div>\n<\/div>\n
\n
\n
that the breakout occurred at usually<\/div>\n<\/div>\n<\/div>\n
\n
\n
the<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know lowest volume of the day and<\/div>\n<\/div>\n<\/div>\n
\n
\n
lunch hour<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and the time consolidating that first<\/div>\n<\/div>\n<\/div>\n
\n
\n
wedge<\/div>\n<\/div>\n<\/div>\n
\n
\n
was uh a bit longer than that second<\/div>\n<\/div>\n<\/div>\n
\n
\n
wedge<\/div>\n<\/div>\n<\/div>\n
\n
\n
spent consolidating so you know there<\/div>\n<\/div>\n<\/div>\n
\n
\n
was more of that battle<\/div>\n<\/div>\n<\/div>\n
\n
\n
of buyers and sellers and more<\/div>\n<\/div>\n<\/div>\n
\n
\n
indecision<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then coleman’s wedge too i thought<\/div>\n<\/div>\n<\/div>\n
\n
\n
that was interesting that time of day<\/div>\n<\/div>\n<\/div>\n
\n
\n
um i think that definitely plays a role<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this setup<\/div>\n<\/div>\n<\/div>\n
\n
\n
even though tesla was extended pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
high from vwop<\/div>\n<\/div>\n<\/div>\n
\n
\n
because of the time of day i believe it<\/div>\n<\/div>\n<\/div>\n
\n
\n
had that extra push to close high a day<\/div>\n<\/div>\n<\/div>\n
\n
\n
um another factor is that we got that<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidation<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh for like we uh for 36 minutes<\/div>\n<\/div>\n<\/div>\n
\n
\n
and also i think with important with<\/div>\n<\/div>\n<\/div>\n
\n
\n
wedge one is<\/div>\n<\/div>\n<\/div>\n
\n
\n
nathan had that first wedge to<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidate for 51 minutes so that’s a<\/div>\n<\/div>\n<\/div>\n
\n
\n
lot of time that’s a lot of pricing<\/div>\n<\/div>\n<\/div>\n
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compression because with compression<\/div>\n<\/div>\n<\/div>\n
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leads expansion<\/div>\n<\/div>\n<\/div>\n
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and then we can talk about some of the<\/div>\n<\/div>\n<\/div>\n
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similarities between these<\/div>\n<\/div>\n<\/div>\n
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two wedges is that they both had lower<\/div>\n<\/div>\n<\/div>\n
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relative volume in the consolidation<\/div>\n<\/div>\n<\/div>\n
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elevated volume on the breakout both<\/div>\n<\/div>\n<\/div>\n
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holding above v<\/div>\n<\/div>\n<\/div>\n
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up shorts are trapped and we’re wedging<\/div>\n<\/div>\n<\/div>\n
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against all-time highs<\/div>\n<\/div>\n<\/div>\n
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when you’re coming up with your playbook<\/div>\n<\/div>\n<\/div>\n
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\n
trades for a particular strategy<\/div>\n<\/div>\n<\/div>\n
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\n
you’re going to have a sense as to what<\/div>\n<\/div>\n<\/div>\n
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variables you want<\/div>\n<\/div>\n<\/div>\n
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\n
but with certain trades they’re not all<\/div>\n<\/div>\n<\/div>\n
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going to be there<\/div>\n<\/div>\n<\/div>\n
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each trade’s going to be different shark<\/div>\n<\/div>\n<\/div>\n
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is famous for saying that<\/div>\n<\/div>\n<\/div>\n
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each trade is going to be different this<\/div>\n<\/div>\n<\/div>\n
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trade is a little bit different<\/div>\n<\/div>\n<\/div>\n
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\n
and you are going to have to make some<\/div>\n<\/div>\n<\/div>\n
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\n
decisions stationary trader in real time<\/div>\n<\/div>\n<\/div>\n
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as to<\/div>\n<\/div>\n<\/div>\n
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how you’re going to handle the fact that<\/div>\n<\/div>\n<\/div>\n
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maybe not all your variables are here<\/div>\n<\/div>\n<\/div>\n
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but a lot of them are how much risk do<\/div>\n<\/div>\n<\/div>\n
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you want to put on<\/div>\n<\/div>\n<\/div>\n
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maybe this trade is a little bit<\/div>\n<\/div>\n<\/div>\n
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different than the other one that just<\/div>\n<\/div>\n<\/div>\n
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worked<\/div>\n<\/div>\n<\/div>\n
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what are you gonna do what what the<\/div>\n<\/div>\n<\/div>\n
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importance though of<\/div>\n<\/div>\n<\/div>\n
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outlining the variables is is is that<\/div>\n<\/div>\n<\/div>\n
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\n
you won’t have to think about as many<\/div>\n<\/div>\n<\/div>\n
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\n
things in real time you’ll be able to<\/div>\n<\/div>\n<\/div>\n
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\n
make better trades because you’re<\/div>\n<\/div>\n<\/div>\n
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only perhaps considering one or two<\/div>\n<\/div>\n<\/div>\n
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\n
things as opposed to 10 things in real<\/div>\n<\/div>\n<\/div>\n
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time as<\/div>\n<\/div>\n<\/div>\n
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data is moving around really quickly and<\/div>\n<\/div>\n<\/div>\n
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so you know just<\/div>\n<\/div>\n<\/div>\n
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it’s good to acknowledge that there’s<\/div>\n<\/div>\n<\/div>\n
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going to have to be some discretion that<\/div>\n<\/div>\n<\/div>\n
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goes into this<\/div>\n<\/div>\n<\/div>\n
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but you can set yourself up<\/div>\n<\/div>\n<\/div>\n
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to be able to make easier decisions and<\/div>\n<\/div>\n<\/div>\n
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to be able to use your discretion better<\/div>\n<\/div>\n<\/div>\n
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\n
by going through a playbook and<\/div>\n<\/div>\n<\/div>\n
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\n
understanding what you trade best<\/div>\n<\/div>\n<\/div>\n
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\n
you shouldn’t expect everything to line<\/div>\n<\/div>\n<\/div>\n
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\n
up perfectly that’s not realistic<\/div>\n<\/div>\n<\/div>\n
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you should expect yourself to have to be<\/div>\n<\/div>\n<\/div>\n
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\n
observed and use your thinking<\/div>\n<\/div>\n<\/div>\n
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\n
during real time all right so so so good<\/div>\n<\/div>\n<\/div>\n
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good<\/div>\n<\/div>\n<\/div>\n
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\n
good to point that out so now we move on<\/div>\n<\/div>\n<\/div>\n
\n
\n
to the tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
of the breakouts um and i’ll talk about<\/div>\n<\/div>\n<\/div>\n
\n
\n
the<\/div>\n<\/div>\n<\/div>\n
\n
\n
first wedge breakout because i took that<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade i was watching this i tried that<\/div>\n<\/div>\n<\/div>\n
\n
\n
first breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
over here and it just wasn’t ready yet<\/div>\n<\/div>\n<\/div>\n
\n
\n
not enough time<\/div>\n<\/div>\n<\/div>\n
\n
\n
spent consolidating and so i knew<\/div>\n<\/div>\n<\/div>\n
\n
\n
what the tape looked like when the tray<\/div>\n<\/div>\n<\/div>\n
\n
\n
didn’t work<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then i was watching it now you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
see um<\/div>\n<\/div>\n<\/div>\n
\n
\n
once we break that 1415 level and you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know<\/div>\n<\/div>\n<\/div>\n
\n
\n
the wedge is kind of clear we just start<\/div>\n<\/div>\n<\/div>\n
\n
\n
really accelerating with volume coming<\/div>\n<\/div>\n<\/div>\n
\n
\n
in<\/div>\n<\/div>\n<\/div>\n
\n
\n
a lot more green on the time and sales<\/div>\n<\/div>\n<\/div>\n
\n
\n
and<\/div>\n<\/div>\n<\/div>\n
\n
\n
at this point you know the trade i was<\/div>\n<\/div>\n<\/div>\n
\n
\n
literally<\/div>\n<\/div>\n<\/div>\n
\n
\n
screenshotting it for my book of charts<\/div>\n<\/div>\n<\/div>\n
\n
\n
because you know the breakout was so<\/div>\n<\/div>\n<\/div>\n
\n
\n
clean and so textbook<\/div>\n<\/div>\n<\/div>\n
\n
\n
that i just had to save it um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know the tape had a clear change<\/div>\n<\/div>\n<\/div>\n
\n
\n
it was so clear<\/div>\n<\/div>\n<\/div>\n
\n
\n
and since i’ve been watching it earlier<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i knew what the breakout looked like<\/div>\n<\/div>\n<\/div>\n
\n
\n
when it failed um i now knew that yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
this was different there’s a new level<\/div>\n<\/div>\n<\/div>\n
\n
\n
of volume you know they just lifted<\/div>\n<\/div>\n<\/div>\n
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\n
price like<\/div>\n<\/div>\n<\/div>\n
\n
\n
ten dollars within a few minutes um<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you know there’s there are new<\/div>\n<\/div>\n<\/div>\n
\n
\n
participants coming in and there is new<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh liquidity uh coming into this trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah now we’re coming out uh you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
all-time highs are 14<\/div>\n<\/div>\n<\/div>\n
\n
\n
29 and i zoomed out to the daily right<\/div>\n<\/div>\n<\/div>\n
\n
\n
when we broke all-time highs you can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is when every short is now very<\/div>\n<\/div>\n<\/div>\n
\n
\n
worried<\/div>\n<\/div>\n<\/div>\n
\n
\n
and price just begins accelerating<\/div>\n<\/div>\n<\/div>\n
\n
\n
incredibly fast<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the trade is working you know i’m<\/div>\n<\/div>\n<\/div>\n
\n
\n
good but<\/div>\n<\/div>\n<\/div>\n
\n
\n
i really should have been just you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking at that higher time frame<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know sitting on my hands and just<\/div>\n<\/div>\n<\/div>\n
\n
\n
not trying to get fancy with anything<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and<\/div>\n<\/div>\n<\/div>\n
\n
\n
really look into the tape too much<\/div>\n<\/div>\n<\/div>\n
\n
\n
anymore because this is now a bigger<\/div>\n<\/div>\n<\/div>\n
\n
\n
picture idea we’re above all-time highs<\/div>\n<\/div>\n<\/div>\n
\n
\n
every short is trapped and stuck they’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna need to cover<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you know i should just be really<\/div>\n<\/div>\n<\/div>\n
\n
\n
sitting back and like i said earlier<\/div>\n<\/div>\n<\/div>\n
\n
\n
waiting for that reason to sell to come<\/div>\n<\/div>\n<\/div>\n
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\n
to me<\/div>\n<\/div>\n<\/div>\n
\n
\n
rather than me um looking for a reason<\/div>\n<\/div>\n<\/div>\n
\n
\n
to sell just because<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know i’m thinking you know it’s gone<\/div>\n<\/div>\n<\/div>\n
\n
\n
up too much or whatnot<\/div>\n<\/div>\n<\/div>\n
\n
\n
all right so this is the second wedge um<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think there’s three<\/div>\n<\/div>\n<\/div>\n
\n
\n
critical points to see in this trade the<\/div>\n<\/div>\n<\/div>\n
\n
\n
initial breakout of 1500<\/div>\n<\/div>\n<\/div>\n
\n
\n
the pull back into 1497<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then the continuation higher which i<\/div>\n<\/div>\n<\/div>\n
\n
\n
would consider the real breakout when<\/div>\n<\/div>\n<\/div>\n
\n
\n
the volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the speed of the tape really um<\/div>\n<\/div>\n<\/div>\n
\n
\n
comes in<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah so right there we get the break of<\/div>\n<\/div>\n<\/div>\n
\n
\n
1500 and i think right away instantly we<\/div>\n<\/div>\n<\/div>\n
\n
\n
move up three dollars<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so as soon as we get that break up a<\/div>\n<\/div>\n<\/div>\n
\n
\n
feed off a few dollars we see a lot of<\/div>\n<\/div>\n<\/div>\n
\n
\n
transactions on the ask a lot of big<\/div>\n<\/div>\n<\/div>\n
\n
\n
prints on it<\/div>\n<\/div>\n<\/div>\n
\n
\n
but um right there like the offer step<\/div>\n<\/div>\n<\/div>\n
\n
\n
up and we get a move back under back<\/div>\n<\/div>\n<\/div>\n
\n
\n
under 1500 which we’ll see coming right<\/div>\n<\/div>\n<\/div>\n
\n
\n
here<\/div>\n<\/div>\n<\/div>\n
\n
\n
oh yeah so we spend a little bit of time<\/div>\n<\/div>\n<\/div>\n
\n
\n
up here um<\/div>\n<\/div>\n<\/div>\n
\n
\n
is it the volume isn’t really ideally<\/div>\n<\/div>\n<\/div>\n
\n
\n
coming in<\/div>\n<\/div>\n<\/div>\n
\n
\n
price isn’t moving away so we get to<\/div>\n<\/div>\n<\/div>\n
\n
\n
pull in to<\/div>\n<\/div>\n<\/div>\n
\n
\n
1497 it gets aggressively bought up and<\/div>\n<\/div>\n<\/div>\n
\n
\n
holds<\/div>\n<\/div>\n<\/div>\n
\n
\n
the bids don’t get dropped and price<\/div>\n<\/div>\n<\/div>\n
\n
\n
isn’t getting stuff<\/div>\n<\/div>\n<\/div>\n
\n
\n
lower so that’s showing that we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
likely to see the continuation higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
that that fake out was just shaking out<\/div>\n<\/div>\n<\/div>\n
\n
\n
some more shorts maybe some shorts are<\/div>\n<\/div>\n<\/div>\n
\n
\n
still adding to their positions<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we get that break and<\/div>\n<\/div>\n<\/div>\n
\n
\n
continuation higher right around<\/div>\n<\/div>\n<\/div>\n
\n
\n
um four minute mark<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay yeah so yeah right there<\/div>\n<\/div>\n<\/div>\n
\n
\n
watch the time in sales you see it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
just all big green prints are just<\/div>\n<\/div>\n<\/div>\n
\n
\n
coming in<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we’re just gonna break that a<\/div>\n<\/div>\n<\/div>\n
\n
\n
new high a day and then right there boom<\/div>\n<\/div>\n<\/div>\n
\n
\n
look at all those look at all those um<\/div>\n<\/div>\n<\/div>\n
\n
\n
transactions on the ask and look look at<\/div>\n<\/div>\n<\/div>\n
\n
\n
the size of them<\/div>\n<\/div>\n<\/div>\n
\n
\n
we just get that that this is a<\/div>\n<\/div>\n<\/div>\n
\n
\n
legitimate move and it’s likely to have<\/div>\n<\/div>\n<\/div>\n
\n
\n
that continuation and follow-through<\/div>\n<\/div>\n<\/div>\n
\n
\n
higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
as price is moving away<\/div>\n<\/div>\n<\/div>\n
\n
\n
and yeah another factor yeah there and<\/div>\n<\/div>\n<\/div>\n
\n
\n
now we’re up to 5 15 12. i think another<\/div>\n<\/div>\n<\/div>\n
\n
\n
thing that’s important to see is that<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re spending time right at 1500<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that time spent there uh maybe<\/div>\n<\/div>\n<\/div>\n
\n
\n
creates it from a<\/div>\n<\/div>\n<\/div>\n
\n
\n
b setup into an a setup because now<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re just consolidating right against<\/div>\n<\/div>\n<\/div>\n
\n
\n
that 1500 and we’re spending time there<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re not getting a move lower and we<\/div>\n<\/div>\n<\/div>\n
\n
\n
then we get that flush higher yeah so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s an important point<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can just based on the tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
have a stock go from a b tray to an a<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
because of what you’re observing it may<\/div>\n<\/div>\n<\/div>\n
\n
\n
be<\/div>\n<\/div>\n<\/div>\n
\n
\n
very clear that there’s a strong buyer<\/div>\n<\/div>\n<\/div>\n
\n
\n
or seller from the tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
that gets you to upgrade the trade from<\/div>\n<\/div>\n<\/div>\n
\n
\n
a b to an a trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
a b to an a plus trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that’s important being open-minded<\/div>\n<\/div>\n<\/div>\n
\n
\n
seeing it and if so then<\/div>\n<\/div>\n<\/div>\n
\n
\n
make sure you have enough risk on<\/div>\n<\/div>\n<\/div>\n
\n
\n
appropriate for that type of setup<\/div>\n<\/div>\n<\/div>\n
\n
\n
so now we come into the trade management<\/div>\n<\/div>\n<\/div>\n
\n
\n
um you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
honestly this could be a you know half<\/div>\n<\/div>\n<\/div>\n
\n
\n
playbook half anti-playbook because i<\/div>\n<\/div>\n<\/div>\n
\n
\n
did not<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade this as well as i should have<\/div>\n<\/div>\n<\/div>\n
\n
\n
given how many variables were aligning<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and the fact that you know i was<\/div>\n<\/div>\n<\/div>\n
\n
\n
seeing all this happen in real time<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and coleman can attest to this it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
funny i said in the chat<\/div>\n<\/div>\n<\/div>\n
\n
\n
in discord you know this seems like a<\/div>\n<\/div>\n<\/div>\n
\n
\n
good potential hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
into the close i couldn’t stick to that<\/div>\n<\/div>\n<\/div>\n
\n
\n
and<\/div>\n<\/div>\n<\/div>\n
\n
\n
so my first entry was that 1415 break<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know when the tape confirmed it but<\/div>\n<\/div>\n<\/div>\n
\n
\n
then i make a really really<\/div>\n<\/div>\n<\/div>\n
\n
\n
stupid uh trade decision where i take<\/div>\n<\/div>\n<\/div>\n
\n
\n
half my risk off below that<\/div>\n<\/div>\n<\/div>\n
\n
\n
1429 all-time high<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i did this because over the past few<\/div>\n<\/div>\n<\/div>\n
\n
\n
months i’ve i’ve kind of found<\/div>\n<\/div>\n<\/div>\n
\n
\n
a niche and edge in uh scalping and very<\/div>\n<\/div>\n<\/div>\n
\n
\n
quick trades<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know i’m usually not in trade for<\/div>\n<\/div>\n<\/div>\n
\n
\n
more than five or ten minutes so<\/div>\n<\/div>\n<\/div>\n
\n
\n
i was still in that mindset and i was<\/div>\n<\/div>\n<\/div>\n
\n
\n
still too focused on that one minute<\/div>\n<\/div>\n<\/div>\n
\n
\n
chart and the tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
when i should have just been sitting on<\/div>\n<\/div>\n<\/div>\n
\n
\n
my hands and um<\/div>\n<\/div>\n<\/div>\n
\n
\n
remembering what kind of trade i am<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually taking<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so i wasn’t in real time remembering<\/div>\n<\/div>\n<\/div>\n
\n
\n
and telling myself<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is a bigger picture idea this is a<\/div>\n<\/div>\n<\/div>\n
\n
\n
potential trait to hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
not a scalp not a move to move you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
a really big technical breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
um so then 1460s<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh i meant to take another 10 off there<\/div>\n<\/div>\n<\/div>\n
\n
\n
as we were getting a bit steep<\/div>\n<\/div>\n<\/div>\n
\n
\n
but my hotkey um my<\/div>\n<\/div>\n<\/div>\n
\n
\n
i fat fingered the wrong hotkey and i<\/div>\n<\/div>\n<\/div>\n
\n
\n
got flat which was<\/div>\n<\/div>\n<\/div>\n
\n
\n
frustrating um but you know i just got a<\/div>\n<\/div>\n<\/div>\n
\n
\n
pretty big move so<\/div>\n<\/div>\n<\/div>\n
\n
\n
overall you know i couldn’t be too mad<\/div>\n<\/div>\n<\/div>\n
\n
\n
about that but<\/div>\n<\/div>\n<\/div>\n
\n
\n
um then you know where it’s highlighted<\/div>\n<\/div>\n<\/div>\n
\n
\n
c<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is where i could spend a whole hour<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know as an anti-playbook<\/div>\n<\/div>\n<\/div>\n
\n
\n
um i was playing for that 1500 break<\/div>\n<\/div>\n<\/div>\n
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but now i’m kind of chasing and i’m a<\/div>\n<\/div>\n<\/div>\n
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little bit on tilt<\/div>\n<\/div>\n<\/div>\n
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because that uh hotkey uh incident<\/div>\n<\/div>\n<\/div>\n
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happened<\/div>\n<\/div>\n<\/div>\n
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and i wasn’t big enough in the trade and<\/div>\n<\/div>\n<\/div>\n
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i knew it and i should have made more<\/div>\n<\/div>\n<\/div>\n
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and so those are all triggers for me to<\/div>\n<\/div>\n<\/div>\n
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get me on tilt and<\/div>\n<\/div>\n<\/div>\n
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and i was and so then i was just you<\/div>\n<\/div>\n<\/div>\n
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know taking all these different scalps<\/div>\n<\/div>\n<\/div>\n
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looking for that 1500 break and i was<\/div>\n<\/div>\n<\/div>\n
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just<\/div>\n<\/div>\n<\/div>\n
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too early you know i wasn’t patient<\/div>\n<\/div>\n<\/div>\n
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enough i didn’t wait for the tape to<\/div>\n<\/div>\n<\/div>\n
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confirm it<\/div>\n<\/div>\n<\/div>\n
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and i just was getting chopped up and<\/div>\n<\/div>\n<\/div>\n
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gave too much p l back so<\/div>\n<\/div>\n<\/div>\n
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after that i i had to just um<\/div>\n<\/div>\n<\/div>\n
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take a step back from my trading desk go<\/div>\n<\/div>\n<\/div>\n
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on a quick walk listen to music<\/div>\n<\/div>\n<\/div>\n
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and um you know of course the the trade<\/div>\n<\/div>\n<\/div>\n
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that i was looking for did happen a few<\/div>\n<\/div>\n<\/div>\n
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minutes later but<\/div>\n<\/div>\n<\/div>\n
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uh you know overall on this first<\/div>\n<\/div>\n<\/div>\n
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breakout you know<\/div>\n<\/div>\n<\/div>\n
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i’m glad that i took the trade but there<\/div>\n<\/div>\n<\/div>\n
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was so much<\/div>\n<\/div>\n<\/div>\n
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room uh to for this to be you know one<\/div>\n<\/div>\n<\/div>\n
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of my biggest trades ever<\/div>\n<\/div>\n<\/div>\n
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if i if i traded it well uh same thing<\/div>\n<\/div>\n<\/div>\n
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with nathan<\/div>\n<\/div>\n<\/div>\n
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this definitely we were both had the<\/div>\n<\/div>\n<\/div>\n
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right idea but weren’t thinking about<\/div>\n<\/div>\n<\/div>\n
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the bigger picture<\/div>\n<\/div>\n<\/div>\n
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um my mindset coming in this trade was<\/div>\n<\/div>\n<\/div>\n
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it should work right away as soon as we<\/div>\n<\/div>\n<\/div>\n
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break that 1500<\/div>\n<\/div>\n<\/div>\n
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um sometimes like we get that fake out<\/div>\n<\/div>\n<\/div>\n
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and then we get that pull in and where<\/div>\n<\/div>\n<\/div>\n
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the real buyers come in to get that<\/div>\n<\/div>\n<\/div>\n
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continuation higher<\/div>\n<\/div>\n<\/div>\n
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i wasn’t thinking about that and that’s<\/div>\n<\/div>\n<\/div>\n
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one of the biggest mistakes in this<\/div>\n<\/div>\n<\/div>\n
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um so my realizations is that we would<\/div>\n<\/div>\n<\/div>\n
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get this this massive 36 minute<\/div>\n<\/div>\n<\/div>\n
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consolidation at all-time highs<\/div>\n<\/div>\n<\/div>\n
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uh the volumes coming in continuously<\/div>\n<\/div>\n<\/div>\n
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throughout the day in this up move<\/div>\n<\/div>\n<\/div>\n
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and we created multiple inside bars on<\/div>\n<\/div>\n<\/div>\n
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the five ten<\/div>\n<\/div>\n<\/div>\n
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and fifteen minute time frames expensive<\/div>\n<\/div>\n<\/div>\n
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stock<\/div>\n<\/div>\n<\/div>\n
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do you feel like this is a<\/div>\n<\/div>\n<\/div>\n
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stock that you can trade at this point<\/div>\n<\/div>\n<\/div>\n
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in your career i feel like it’s too hard<\/div>\n<\/div>\n<\/div>\n
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feel like it’s too spready what are your<\/div>\n<\/div>\n<\/div>\n
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\n
overall thoughts<\/div>\n<\/div>\n<\/div>\n
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for me yeah like uh i’ve<\/div>\n<\/div>\n<\/div>\n
\n
\n
before this summer um you know i was<\/div>\n<\/div>\n<\/div>\n
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never trading<\/div>\n<\/div>\n<\/div>\n
\n
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a stock over a thousand dollars so but<\/div>\n<\/div>\n<\/div>\n
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the previous weeks i had been you know<\/div>\n<\/div>\n<\/div>\n
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practicing with very small size<\/div>\n<\/div>\n<\/div>\n
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\n
in trading tesla and you know i did<\/div>\n<\/div>\n<\/div>\n
\n
\n
notice that it touches so many prices so<\/div>\n<\/div>\n<\/div>\n
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\n
you know i can’t be too big initially um<\/div>\n<\/div>\n<\/div>\n
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\n
but on this trade i was so convicted uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know i just really was confident<\/div>\n<\/div>\n<\/div>\n
\n
\n
in it that i entered full size right<\/div>\n<\/div>\n<\/div>\n
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\n
away<\/div>\n<\/div>\n<\/div>\n
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\n
but i think the better thing that i<\/div>\n<\/div>\n<\/div>\n
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\n
should have done given you know it’s so<\/div>\n<\/div>\n<\/div>\n
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wicky it can it can just<\/div>\n<\/div>\n<\/div>\n
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jump around and you know you can draw<\/div>\n<\/div>\n<\/div>\n
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down a few times<\/div>\n<\/div>\n<\/div>\n
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what i should have done was enter half<\/div>\n<\/div>\n<\/div>\n
\n
\n
at that 14 15 break<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then add another half or<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know maybe one or two full tiers<\/div>\n<\/div>\n<\/div>\n
\n
\n
above that 1429 all-time high<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the fact that it didn’t get back in<\/div>\n<\/div>\n<\/div>\n
\n
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once we got over that all-time high<\/div>\n<\/div>\n<\/div>\n
\n
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and added that size that i took off that<\/div>\n<\/div>\n<\/div>\n
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was probably the biggest<\/div>\n<\/div>\n<\/div>\n
\n
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error because once we were over that<\/div>\n<\/div>\n<\/div>\n
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all-time high you know i knew every<\/div>\n<\/div>\n<\/div>\n
\n
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short was trapped in<\/div>\n<\/div>\n<\/div>\n
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\n
and and there was nothing they could do<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the volume was just pouring in so it<\/div>\n<\/div>\n<\/div>\n
\n
\n
was an a plus plus trade and very high<\/div>\n<\/div>\n<\/div>\n
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\n
probability<\/div>\n<\/div>\n<\/div>\n
\n
\n
um but yeah going back to what you’re<\/div>\n<\/div>\n<\/div>\n
\n
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saying it was new for me<\/div>\n<\/div>\n<\/div>\n
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um but you know i’m glad i got this<\/div>\n<\/div>\n<\/div>\n
\n
\n
experience in this trade<\/div>\n<\/div>\n<\/div>\n
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\n
for me tesla’s actually been my<\/div>\n<\/div>\n<\/div>\n
\n
\n
most profitable stock i’ve traded<\/div>\n<\/div>\n<\/div>\n
\n
\n
throughout this summer<\/div>\n<\/div>\n<\/div>\n
\n
\n
i just checked out my trader view stats<\/div>\n<\/div>\n<\/div>\n
\n
\n
in tesla i have currently have a 66<\/div>\n<\/div>\n<\/div>\n
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\n
percent win rate<\/div>\n<\/div>\n<\/div>\n
\n
\n
a lot of times i’m scalping based on<\/div>\n<\/div>\n<\/div>\n
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\n
price action and it does touch a lot of<\/div>\n<\/div>\n<\/div>\n
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\n
prices<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i think because of the momentum and<\/div>\n<\/div>\n<\/div>\n
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because it touches so many prices that’s<\/div>\n<\/div>\n<\/div>\n
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why i found success<\/div>\n<\/div>\n<\/div>\n
\n
\n
training tesla so now on to our<\/div>\n<\/div>\n<\/div>\n
\n
\n
intuition<\/div>\n<\/div>\n<\/div>\n
\n
\n
um the biggest thing for me in this<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
what i spoke on earlier thinking about<\/div>\n<\/div>\n<\/div>\n
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\n
the psychology coming into this day<\/div>\n<\/div>\n<\/div>\n
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how extreme sentiment was you had one<\/div>\n<\/div>\n<\/div>\n
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side saying<\/div>\n<\/div>\n<\/div>\n
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this is a bubble this valuation makes no<\/div>\n<\/div>\n<\/div>\n
\n
\n
sense<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then you had the other side saying<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah maybe that move was a bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
aggressive but the market is finally<\/div>\n<\/div>\n<\/div>\n
\n
\n
realizing<\/div>\n<\/div>\n<\/div>\n
\n
\n
and pricing tesla to be the dominant<\/div>\n<\/div>\n<\/div>\n
\n
\n
automobile and you know autonomous<\/div>\n<\/div>\n<\/div>\n
\n
\n
driving<\/div>\n<\/div>\n<\/div>\n
\n
\n
company over the next few decades um so<\/div>\n<\/div>\n<\/div>\n
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thinking about where those other market<\/div>\n<\/div>\n<\/div>\n
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participants would be<\/div>\n<\/div>\n<\/div>\n
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positioned is you know why<\/div>\n<\/div>\n<\/div>\n
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\n
i was really confident to take that<\/div>\n<\/div>\n<\/div>\n
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initial entry<\/div>\n<\/div>\n<\/div>\n
\n
\n
and knowing that so many people wanted<\/div>\n<\/div>\n<\/div>\n
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\n
to see this breakdown the<\/div>\n<\/div>\n<\/div>\n
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\n
few days where it was kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidating above 13 and 1400<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know it made me think of a quote<\/div>\n<\/div>\n<\/div>\n
\n
\n
from brian shannon<\/div>\n<\/div>\n<\/div>\n
\n
\n
from failed moves come fast moves um<\/div>\n<\/div>\n<\/div>\n
\n
\n
so when that when tesla didn’t break<\/div>\n<\/div>\n<\/div>\n
\n
\n
down and when everyone thought it should<\/div>\n<\/div>\n<\/div>\n
\n
\n
break down<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know there would be a lot of people<\/div>\n<\/div>\n<\/div>\n
\n
\n
trapped and a lot of people needing to<\/div>\n<\/div>\n<\/div>\n
\n
\n
cover and exit their positions yeah just<\/div>\n<\/div>\n<\/div>\n
\n
\n
going off what nathan said<\/div>\n<\/div>\n<\/div>\n
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\n
um i need to be thinking about where<\/div>\n<\/div>\n<\/div>\n
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\n
other market<\/div>\n<\/div>\n<\/div>\n
\n
\n
participants um on the bigger picture<\/div>\n<\/div>\n<\/div>\n
\n
\n
to also add conviction to my trade i<\/div>\n<\/div>\n<\/div>\n
\n
\n
should be thinking about that ten<\/div>\n<\/div>\n<\/div>\n
\n
\n
percent of the shorts<\/div>\n<\/div>\n<\/div>\n
\n
\n
or shares and tesla are short meaning<\/div>\n<\/div>\n<\/div>\n
\n
\n
that there is still a chance for a<\/div>\n<\/div>\n<\/div>\n
\n
\n
continuation squeeze higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
and most longs in this position are in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the money looking back<\/div>\n<\/div>\n<\/div>\n
\n
\n
i need to uh hold a larger core<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it um have and think about in this<\/div>\n<\/div>\n<\/div>\n
\n
\n
situation what should be my reason to<\/div>\n<\/div>\n<\/div>\n
\n
\n
sell and be very flexible with that<\/div>\n<\/div>\n<\/div>\n
\n
\n
and putting together the variables will<\/div>\n<\/div>\n<\/div>\n
\n
\n
give me clear conviction for a reason to<\/div>\n<\/div>\n<\/div>\n
\n
\n
sell my trade review and what i could<\/div>\n<\/div>\n<\/div>\n
\n
\n
have done better<\/div>\n<\/div>\n<\/div>\n
\n
\n
i could have done so much better on this<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
um you know i knew it in real time that<\/div>\n<\/div>\n<\/div>\n
\n
\n
i wasn’t big enough<\/div>\n<\/div>\n<\/div>\n
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\n
uh i knew when i took that half off you<\/div>\n<\/div>\n<\/div>\n
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know<\/div>\n<\/div>\n<\/div>\n
\n
\n
i should have entered back in um<\/div>\n<\/div>\n<\/div>\n
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\n
at least when that all-time high broke<\/div>\n<\/div>\n<\/div>\n
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\n
um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then i should have biggest thing<\/div>\n<\/div>\n<\/div>\n
\n
\n
just zoomed out<\/div>\n<\/div>\n<\/div>\n
\n
\n
remember the bigger picture remember why<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m taking the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know really thinking about how<\/div>\n<\/div>\n<\/div>\n
\n
\n
many people<\/div>\n<\/div>\n<\/div>\n
\n
\n
how many big players are trapped and<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s why i took the trade initially<\/div>\n<\/div>\n<\/div>\n
\n
\n
and<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that’s what i should have been<\/div>\n<\/div>\n<\/div>\n
\n
\n
thinking about the entire time not just<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking at the one minute chart and the<\/div>\n<\/div>\n<\/div>\n
\n
\n
tape and you know since it does touch so<\/div>\n<\/div>\n<\/div>\n
\n
\n
many prices<\/div>\n<\/div>\n<\/div>\n
\n
\n
it i shouldn’t have been so focused on<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh the tape once i was in the trade uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
yet again yeah i<\/div>\n<\/div>\n<\/div>\n
\n
\n
same thing with me uh just looking at<\/div>\n<\/div>\n<\/div>\n
\n
\n
those larger time frames specifically<\/div>\n<\/div>\n<\/div>\n
\n
\n
5 15 minute 30 minute and 60 minute<\/div>\n<\/div>\n<\/div>\n
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to have an overall standing what’s<\/div>\n<\/div>\n<\/div>\n
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happening now and what is reasonable<\/div>\n<\/div>\n<\/div>\n
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\n
to what’s going to come next um<\/div>\n<\/div>\n<\/div>\n
\n
\n
but yeah the rest i talk about is<\/div>\n<\/div>\n<\/div>\n
\n
\n
exactly what nathan<\/div>\n<\/div>\n<\/div>\n
\n
\n
um i think is what i could do better um<\/div>\n<\/div>\n<\/div>\n
\n
\n
so then we just have<\/div>\n<\/div>\n<\/div>\n
\n
\n
the technology slide um with this setup<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s you know relatively a simple setup<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we should be able to code it you<\/div>\n<\/div>\n<\/div>\n
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\n
know work with nick<\/div>\n<\/div>\n<\/div>\n
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\n
other interns that have similar scripts<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know like consolidation scripts um<\/div>\n<\/div>\n<\/div>\n
\n
\n
what we would need to code and look for<\/div>\n<\/div>\n<\/div>\n
\n
\n
an elevated rvol greater than at least<\/div>\n<\/div>\n<\/div>\n
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\n
two has to be above view op<\/div>\n<\/div>\n<\/div>\n
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\n
consolidation of at least 30 minutes or<\/div>\n<\/div>\n<\/div>\n
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more<\/div>\n<\/div>\n<\/div>\n
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\n
you know a range of no greater than a<\/div>\n<\/div>\n<\/div>\n
\n
\n
quarter daily atr<\/div>\n<\/div>\n<\/div>\n
\n
\n
um preferably lower arvol during the<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidation phase<\/div>\n<\/div>\n<\/div>\n
\n
\n
at least 20 percent lower um and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
an elevated short float is optional but<\/div>\n<\/div>\n<\/div>\n
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\n
definitely you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
is ideal and can add um some more fuel<\/div>\n<\/div>\n<\/div>\n
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\n
to the fire<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh and you know within five percent of<\/div>\n<\/div>\n<\/div>\n
\n
\n
52-week highs or all-time highs and<\/div>\n<\/div>\n<\/div>\n
\n
\n
above all major moving averages<\/div>\n<\/div>\n<\/div>\n
\n
\n
hey go ahead and click our subscribe<\/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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* no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

In this video, learn exit strategies for your trading to lock in more profits (be definitive!). Two developing traders break down their exit strategy in a winning technical Tesla trade, with critical feedback from Mike. Let\u2019s get to work on sharing these important trading lessons so you can grow your trading account. * no relevant positions<\/p>\n","protected":false},"author":290,"featured_media":50021,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-50020","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nExit Strategies for Your Trading | SMB Training<\/title>\n<meta name=\"description\" content=\"Maximize your profits with definitive exit strategies from SMB Training. 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