{"id":50044,"date":"2020-08-10T09:54:26","date_gmt":"2020-08-10T13:54:26","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50044"},"modified":"2020-08-10T09:54:26","modified_gmt":"2020-08-10T13:54:26","slug":"how-to-improve-your-trading-entries","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-to-improve-your-trading-entries","title":{"rendered":"How to improve your trading entries"},"content":{"rendered":"

In this video, learn how to improve your trading entries. Mike provides critical feedback to a junior trader to help him improve his trading entries in ADT, after this company struck a game-changing deal with Google. 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 how to improve your<\/div>\n<\/div>\n<\/div>\n
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trading entries<\/div>\n<\/div>\n<\/div>\n
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hi i’m mike bellafiore 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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in this video i provide critical<\/div>\n<\/div>\n<\/div>\n
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feedback<\/div>\n<\/div>\n<\/div>\n
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to a junior trader to help him improve<\/div>\n<\/div>\n<\/div>\n
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his trading entries in adt<\/div>\n<\/div>\n<\/div>\n
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after this company struck a<\/div>\n<\/div>\n<\/div>\n
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game-changing deal with google<\/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<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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this trade is from<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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monday of uh this week so yeah this<\/div>\n<\/div>\n<\/div>\n
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trade was on monday recently<\/div>\n<\/div>\n<\/div>\n
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um it was an opening drive play that was<\/div>\n<\/div>\n<\/div>\n
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a very<\/div>\n<\/div>\n<\/div>\n
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exaggerated opening drive play leading<\/div>\n<\/div>\n<\/div>\n
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to multiple<\/div>\n<\/div>\n<\/div>\n
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upward and downward halts so we’ll just<\/div>\n<\/div>\n<\/div>\n
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get into this<\/div>\n<\/div>\n<\/div>\n
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and why this was really in play<\/div>\n<\/div>\n<\/div>\n
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so the trade criteria for these opening<\/div>\n<\/div>\n<\/div>\n
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drives i’ve<\/div>\n<\/div>\n<\/div>\n
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kind of gone through some of this before<\/div>\n<\/div>\n<\/div>\n
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but the elevated arvol<\/div>\n<\/div>\n<\/div>\n
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is one of the most attractive um<\/div>\n<\/div>\n<\/div>\n
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variables and also<\/div>\n<\/div>\n<\/div>\n
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more pre-market volume being done is<\/div>\n<\/div>\n<\/div>\n
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another indicator<\/div>\n<\/div>\n<\/div>\n
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hey matt do you think this is a an<\/div>\n<\/div>\n<\/div>\n
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opening drive play or do you think this<\/div>\n<\/div>\n<\/div>\n
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is a breaking news trade<\/div>\n<\/div>\n<\/div>\n
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i feel like it’s an opening drive like<\/div>\n<\/div>\n<\/div>\n
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within a breaking news play almost<\/div>\n<\/div>\n<\/div>\n
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because<\/div>\n<\/div>\n<\/div>\n
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we see like a consolidation off the open<\/div>\n<\/div>\n<\/div>\n
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and then<\/div>\n<\/div>\n<\/div>\n
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and then a breakout but the news is also<\/div>\n<\/div>\n<\/div>\n
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very positive and<\/div>\n<\/div>\n<\/div>\n
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but i think it’s more of an opening<\/div>\n<\/div>\n<\/div>\n
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drive because the initial breakout<\/div>\n<\/div>\n<\/div>\n
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that happens pre-market when this news<\/div>\n<\/div>\n<\/div>\n
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comes out it ran<\/div>\n<\/div>\n<\/div>\n
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all the way up from 13 to 20 without<\/div>\n<\/div>\n<\/div>\n
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pulling back<\/div>\n<\/div>\n<\/div>\n
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so i think that was really maybe the the<\/div>\n<\/div>\n<\/div>\n
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breaking news trade and then this was<\/div>\n<\/div>\n<\/div>\n
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more of<\/div>\n<\/div>\n<\/div>\n
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a opening drive trade using the<\/div>\n<\/div>\n<\/div>\n
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variables and levels given to me<\/div>\n<\/div>\n<\/div>\n
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pre-market from that initial<\/div>\n<\/div>\n<\/div>\n
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breaking news uh breakout<\/div>\n<\/div>\n<\/div>\n
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so what time does that news come out so<\/div>\n<\/div>\n<\/div>\n
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that news came out around<\/div>\n<\/div>\n<\/div>\n
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i believe it was like seven a.m i guess<\/div>\n<\/div>\n<\/div>\n
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i’m skipping ahead<\/div>\n<\/div>\n<\/div>\n
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or six six a.m<\/div>\n<\/div>\n<\/div>\n
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um yeah and then you can see it runs up<\/div>\n<\/div>\n<\/div>\n
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in the pre-market and then these are the<\/div>\n<\/div>\n<\/div>\n
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technical levels we end up trading off<\/div>\n<\/div>\n<\/div>\n
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of<\/div>\n<\/div>\n<\/div>\n
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so i think it’s it’s definitely a mix of<\/div>\n<\/div>\n<\/div>\n
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both<\/div>\n<\/div>\n<\/div>\n
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um the news catalyst is definitely why i<\/div>\n<\/div>\n<\/div>\n
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was initially looking at it<\/div>\n<\/div>\n<\/div>\n
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and um it could it could probably be<\/div>\n<\/div>\n<\/div>\n
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labeled as that as well<\/div>\n<\/div>\n<\/div>\n
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um so strong after hours and pre-market<\/div>\n<\/div>\n<\/div>\n
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gap<\/div>\n<\/div>\n<\/div>\n
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um look i mean one of the so a breaking<\/div>\n<\/div>\n<\/div>\n
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news trade<\/div>\n<\/div>\n<\/div>\n
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to me is you’re sitting at your desk<\/div>\n<\/div>\n<\/div>\n
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and breaking news hits the tape<\/div>\n<\/div>\n<\/div>\n
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and you’re quick to react a<\/div>\n<\/div>\n<\/div>\n
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or you wait for if it’s positive i guess<\/div>\n<\/div>\n<\/div>\n
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some news can be negative although these<\/div>\n<\/div>\n<\/div>\n
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days it seems like all the news is<\/div>\n<\/div>\n<\/div>\n
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positive<\/div>\n<\/div>\n<\/div>\n
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for a stock even when it’s negative um<\/div>\n<\/div>\n<\/div>\n
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so when i think of a breaking news trade<\/div>\n<\/div>\n<\/div>\n
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i think of<\/div>\n<\/div>\n<\/div>\n
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news hitting the tape and then you being<\/div>\n<\/div>\n<\/div>\n
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quick<\/div>\n<\/div>\n<\/div>\n
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to react as to how you think the<\/div>\n<\/div>\n<\/div>\n
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market’s going to react<\/div>\n<\/div>\n<\/div>\n
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and opening drive play to me is a<\/div>\n<\/div>\n<\/div>\n
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different trade which is this is how the<\/div>\n<\/div>\n<\/div>\n
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order flow is going to<\/div>\n<\/div>\n<\/div>\n
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come into the marketplace right on the<\/div>\n<\/div>\n<\/div>\n
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open<\/div>\n<\/div>\n<\/div>\n
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this is my strategy for the the early<\/div>\n<\/div>\n<\/div>\n
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minutes of trading that’s what we call<\/div>\n<\/div>\n<\/div>\n
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the opening drive<\/div>\n<\/div>\n<\/div>\n
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so and we trade them<\/div>\n<\/div>\n<\/div>\n
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we have those are different plays for<\/div>\n<\/div>\n<\/div>\n
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our playbook<\/div>\n<\/div>\n<\/div>\n
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and we’re going to have different<\/div>\n<\/div>\n<\/div>\n
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variables for each<\/div>\n<\/div>\n<\/div>\n
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and one you might be good at while the<\/div>\n<\/div>\n<\/div>\n
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other you might not be good at<\/div>\n<\/div>\n<\/div>\n
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and so when you measure trades at the<\/div>\n<\/div>\n<\/div>\n
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end of the month you want to know that<\/div>\n<\/div>\n<\/div>\n
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so that’s why i asked that question<\/div>\n<\/div>\n<\/div>\n
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right yeah this going off those<\/div>\n<\/div>\n<\/div>\n
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variables as well then this is<\/div>\n<\/div>\n<\/div>\n
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definitely<\/div>\n<\/div>\n<\/div>\n
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an opening drive play as that breaking<\/div>\n<\/div>\n<\/div>\n
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news was much earlier in the morning<\/div>\n<\/div>\n<\/div>\n
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we’ll go with that then opening drive<\/div>\n<\/div>\n<\/div>\n
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um so we want to see for the nature of<\/div>\n<\/div>\n<\/div>\n
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an opening drive we wanted<\/div>\n<\/div>\n<\/div>\n
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to be fast once the direction is kind of<\/div>\n<\/div>\n<\/div>\n
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picked with volume and speed<\/div>\n<\/div>\n<\/div>\n
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and we for an opening drive long we<\/div>\n<\/div>\n<\/div>\n
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would want to see like a lack of selling<\/div>\n<\/div>\n<\/div>\n
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pressure<\/div>\n<\/div>\n<\/div>\n
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on the open or some held bid areas<\/div>\n<\/div>\n<\/div>\n
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something along that<\/div>\n<\/div>\n<\/div>\n
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line because this is an opening drive<\/div>\n<\/div>\n<\/div>\n
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long<\/div>\n<\/div>\n<\/div>\n
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for the major trade in here and then<\/div>\n<\/div>\n<\/div>\n
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your risk is often going to be<\/div>\n<\/div>\n<\/div>\n
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pre-market levels that are discussed we<\/div>\n<\/div>\n<\/div>\n
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have an important level at 1370<\/div>\n<\/div>\n<\/div>\n
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pre-market<\/div>\n<\/div>\n<\/div>\n
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when watching this an hour before the<\/div>\n<\/div>\n<\/div>\n
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open so i know if this 1370<\/div>\n<\/div>\n<\/div>\n
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isn’t being bid up that’s a potential<\/div>\n<\/div>\n<\/div>\n
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sign of weakness so that’s kind of an<\/div>\n<\/div>\n<\/div>\n
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example of<\/div>\n<\/div>\n<\/div>\n
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how those pre-market levels can help you<\/div>\n<\/div>\n<\/div>\n
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make quick decisions off the open of<\/div>\n<\/div>\n<\/div>\n
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kind of<\/div>\n<\/div>\n<\/div>\n
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who’s stepping into control<\/div>\n<\/div>\n<\/div>\n
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so this isn’t a trade that was very<\/div>\n<\/div>\n<\/div>\n
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correlated with the market or anything<\/div>\n<\/div>\n<\/div>\n
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of that nature but it’s still good<\/div>\n<\/div>\n<\/div>\n
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give an overview this company adt<\/div>\n<\/div>\n<\/div>\n
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is in the electronics and security<\/div>\n<\/div>\n<\/div>\n
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business and the news is with google so<\/div>\n<\/div>\n<\/div>\n
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maybe a little bit of tech relation but<\/div>\n<\/div>\n<\/div>\n
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we just saw we had relative strength on<\/div>\n<\/div>\n<\/div>\n
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the morning which is<\/div>\n<\/div>\n<\/div>\n
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never um which is always nice to have on<\/div>\n<\/div>\n<\/div>\n
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your side when in a long breakout trade<\/div>\n<\/div>\n<\/div>\n
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so this is just a small check in my<\/div>\n<\/div>\n<\/div>\n
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favor<\/div>\n<\/div>\n<\/div>\n
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we can see vix a little bit under 30 so<\/div>\n<\/div>\n<\/div>\n
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some a little more volatility maybe than<\/div>\n<\/div>\n<\/div>\n
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some like 15 dollar vix environments<\/div>\n<\/div>\n<\/div>\n
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tick you can see stays pretty positive<\/div>\n<\/div>\n<\/div>\n
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for the day<\/div>\n<\/div>\n<\/div>\n
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until selloff at the end but we’re just<\/div>\n<\/div>\n<\/div>\n
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really focusing on this morning on the<\/div>\n<\/div>\n<\/div>\n
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opening drive so<\/div>\n<\/div>\n<\/div>\n
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just this first half hour to an hour<\/div>\n<\/div>\n<\/div>\n
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so the real catalyst for why i was<\/div>\n<\/div>\n<\/div>\n
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looking at this pre-market<\/div>\n<\/div>\n<\/div>\n
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and why i thought this was going to be a<\/div>\n<\/div>\n<\/div>\n
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good trading vehicle was because<\/div>\n<\/div>\n<\/div>\n
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google released news they were going to<\/div>\n<\/div>\n<\/div>\n
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partner with adt<\/div>\n<\/div>\n<\/div>\n
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to create smart home security offerings<\/div>\n<\/div>\n<\/div>\n
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essentially<\/div>\n<\/div>\n<\/div>\n
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they want to give you the ability on<\/div>\n<\/div>\n<\/div>\n
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your google smart<\/div>\n<\/div>\n<\/div>\n
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phones and hardware to control your adt<\/div>\n<\/div>\n<\/div>\n
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home security system<\/div>\n<\/div>\n<\/div>\n
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check the cameras uh change settings<\/div>\n<\/div>\n<\/div>\n
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all sorts of things like that whether<\/div>\n<\/div>\n<\/div>\n
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you want to record the cameras<\/div>\n<\/div>\n<\/div>\n
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and when you’re away from home if you<\/div>\n<\/div>\n<\/div>\n
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want to turn it on and off all sorts of<\/div>\n<\/div>\n<\/div>\n
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just<\/div>\n<\/div>\n<\/div>\n
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convenient improvements to home security<\/div>\n<\/div>\n<\/div>\n
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processes<\/div>\n<\/div>\n<\/div>\n
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so adt is going to receive 450 million<\/div>\n<\/div>\n<\/div>\n
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dollars for the deal and google will<\/div>\n<\/div>\n<\/div>\n
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take a 7<\/div>\n<\/div>\n<\/div>\n
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stake in adt so this is major news<\/div>\n<\/div>\n<\/div>\n
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because this is a<\/div>\n<\/div>\n<\/div>\n
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popular industry in tech with the<\/div>\n<\/div>\n<\/div>\n
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hardwares and services<\/div>\n<\/div>\n<\/div>\n
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google is one of the biggest players in<\/div>\n<\/div>\n<\/div>\n
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that industry so people are gonna be<\/div>\n<\/div>\n<\/div>\n
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interested if google’s interested in it<\/div>\n<\/div>\n<\/div>\n
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and<\/div>\n<\/div>\n<\/div>\n
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if google’s really committing this much<\/div>\n<\/div>\n<\/div>\n
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money towards a deal and taking a<\/div>\n<\/div>\n<\/div>\n
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percentage<\/div>\n<\/div>\n<\/div>\n
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in the company then there’s real<\/div>\n<\/div>\n<\/div>\n
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potential for fundamental changes<\/div>\n<\/div>\n<\/div>\n
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in the company going forward when<\/div>\n<\/div>\n<\/div>\n
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there’s such a large company like google<\/div>\n<\/div>\n<\/div>\n
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that can now help back it<\/div>\n<\/div>\n<\/div>\n
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so there’s going to be a lot of eyes on<\/div>\n<\/div>\n<\/div>\n
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this both from a<\/div>\n<\/div>\n<\/div>\n
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from firms perspectives trying to<\/div>\n<\/div>\n<\/div>\n
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re-allocate their funds based on<\/div>\n<\/div>\n<\/div>\n
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the new valuations of the company<\/div>\n<\/div>\n<\/div>\n
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there’ll be day traders like us who are<\/div>\n<\/div>\n<\/div>\n
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looking at it for the volatility<\/div>\n<\/div>\n<\/div>\n
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and the uh outsized movements and then<\/div>\n<\/div>\n<\/div>\n
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there’s even going to be retail traders<\/div>\n<\/div>\n<\/div>\n
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who are in on this<\/div>\n<\/div>\n<\/div>\n
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on robin hood and things like that<\/div>\n<\/div>\n<\/div>\n
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because this this is like one of the<\/div>\n<\/div>\n<\/div>\n
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biggest movers on the entire day<\/div>\n<\/div>\n<\/div>\n
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and it had all all eyes on it leading to<\/div>\n<\/div>\n<\/div>\n
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a lot of outsized risk return risk<\/div>\n<\/div>\n<\/div>\n
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reward potential<\/div>\n<\/div>\n<\/div>\n
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in uh in my opinion and<\/div>\n<\/div>\n<\/div>\n
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after this catalyst happened at the<\/div>\n<\/div>\n<\/div>\n
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market open we saw there was one<\/div>\n<\/div>\n<\/div>\n
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thousand times our vault but this is<\/div>\n<\/div>\n<\/div>\n
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also<\/div>\n<\/div>\n<\/div>\n
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prevalent in the pre-market i saw how<\/div>\n<\/div>\n<\/div>\n
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much volume was done and it was<\/div>\n<\/div>\n<\/div>\n
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thousands of times the usual amount so<\/div>\n<\/div>\n<\/div>\n
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really looking at volumes an important<\/div>\n<\/div>\n<\/div>\n
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indicator usually it has an atr of like<\/div>\n<\/div>\n<\/div>\n
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0.35 coming into this day so that’s not<\/div>\n<\/div>\n<\/div>\n
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really<\/div>\n<\/div>\n<\/div>\n
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relevant when something is this up on<\/div>\n<\/div>\n<\/div>\n
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the day when it’s up<\/div>\n<\/div>\n<\/div>\n
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almost 10 points um institutional<\/div>\n<\/div>\n<\/div>\n
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ownership is important to mention here<\/div>\n<\/div>\n<\/div>\n
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because like i said there could be<\/div>\n<\/div>\n<\/div>\n
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really<\/div>\n<\/div>\n<\/div>\n
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big funds that need to step in and<\/div>\n<\/div>\n<\/div>\n
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reallocate their position throughout the<\/div>\n<\/div>\n<\/div>\n
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day<\/div>\n<\/div>\n<\/div>\n
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whether they’re accumulating or whether<\/div>\n<\/div>\n<\/div>\n
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they’re needing to sell<\/div>\n<\/div>\n<\/div>\n
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and sometimes they just have so many<\/div>\n<\/div>\n<\/div>\n
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shares that they just have to get rid of<\/div>\n<\/div>\n<\/div>\n
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them or have to buy and<\/div>\n<\/div>\n<\/div>\n
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that can create some a lot of short<\/div>\n<\/div>\n<\/div>\n
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coverings for some squeezes at times<\/div>\n<\/div>\n<\/div>\n
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this is the long-term technicals for adt<\/div>\n<\/div>\n<\/div>\n
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leading into this day<\/div>\n<\/div>\n<\/div>\n
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um so the day of the trade was this<\/div>\n<\/div>\n<\/div>\n
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initial gap up to<\/div>\n<\/div>\n<\/div>\n
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14 it looks like was like the middle of<\/div>\n<\/div>\n<\/div>\n
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the range<\/div>\n<\/div>\n<\/div>\n
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with a high at 1720 in the pre-market or<\/div>\n<\/div>\n<\/div>\n
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all the way up to 20<\/div>\n<\/div>\n<\/div>\n
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sorry and really this is all-time highs<\/div>\n<\/div>\n<\/div>\n
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for the stock that’s what we’re<\/div>\n<\/div>\n<\/div>\n
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evaluating here so there’s no<\/div>\n<\/div>\n<\/div>\n
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major overhead technical levels that<\/div>\n<\/div>\n<\/div>\n
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could<\/div>\n<\/div>\n<\/div>\n
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create um a lot of offers<\/div>\n<\/div>\n<\/div>\n
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really easily on uh an all-time highs<\/div>\n<\/div>\n<\/div>\n
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\n
breakout these levels would have to<\/div>\n<\/div>\n<\/div>\n
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\n
take longer to be established so that<\/div>\n<\/div>\n<\/div>\n
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\n
helps um<\/div>\n<\/div>\n<\/div>\n
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increase to a long bias while seeing a<\/div>\n<\/div>\n<\/div>\n
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\n
long breakout at all-time highs<\/div>\n<\/div>\n<\/div>\n
\n
\n
so the pre-market technicals is a really<\/div>\n<\/div>\n<\/div>\n
\n
\n
important area for an opening drive<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade to acquire<\/div>\n<\/div>\n<\/div>\n
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\n
information to make quick trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
decisions on the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
so we can see this 1370 level is<\/div>\n<\/div>\n<\/div>\n
\n
\n
probably the most significant trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
level for me<\/div>\n<\/div>\n<\/div>\n
\n
\n
because the initial breakout on the news<\/div>\n<\/div>\n<\/div>\n
\n
\n
becomes a major resistance we wedge and<\/div>\n<\/div>\n<\/div>\n
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\n
we get our<\/div>\n<\/div>\n<\/div>\n
\n
\n
our even larger breakout but then as we<\/div>\n<\/div>\n<\/div>\n
\n
\n
finally pull back in the morning<\/div>\n<\/div>\n<\/div>\n
\n
\n
for this half hour before the open we<\/div>\n<\/div>\n<\/div>\n
\n
\n
still hold this level with buyers making<\/div>\n<\/div>\n<\/div>\n
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me think okay<\/div>\n<\/div>\n<\/div>\n
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if people need to start acquiring this<\/div>\n<\/div>\n<\/div>\n
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for maybe funds or changing<\/div>\n<\/div>\n<\/div>\n
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values or any types of ideas<\/div>\n<\/div>\n<\/div>\n
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in that range they’re going to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
probably risking off this level because<\/div>\n<\/div>\n<\/div>\n
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\n
there’s been buyers and sellers and lots<\/div>\n<\/div>\n<\/div>\n
\n
\n
of volume clearly<\/div>\n<\/div>\n<\/div>\n
\n
\n
even just in the pre-market we can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
these volume spikes<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this consolidation from 1370 to<\/div>\n<\/div>\n<\/div>\n
\n
\n
14 15 and then also just from watching<\/div>\n<\/div>\n<\/div>\n
\n
\n
pre-market trading and levels you kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of saw the 17 psychological level came<\/div>\n<\/div>\n<\/div>\n
\n
\n
in and those are often formed at those<\/div>\n<\/div>\n<\/div>\n
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\n
whole dollars when they are at all-time<\/div>\n<\/div>\n<\/div>\n
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highs<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s kind of natural for that to happen<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of like how this 15 became<\/div>\n<\/div>\n<\/div>\n
\n
\n
a minor area before this breakdown and<\/div>\n<\/div>\n<\/div>\n
\n
\n
hold under<\/div>\n<\/div>\n<\/div>\n
\n
\n
so really i’m thinking if there’s a lot<\/div>\n<\/div>\n<\/div>\n
\n
\n
of volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
and buying off the open and holding<\/div>\n<\/div>\n<\/div>\n
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\n
above 1370<\/div>\n<\/div>\n<\/div>\n
\n
\n
then we have a real potential for a<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout to the upside<\/div>\n<\/div>\n<\/div>\n
\n
\n
but i’m also not opposed to a short bias<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the open i’m just taking kind of what<\/div>\n<\/div>\n<\/div>\n
\n
\n
the market’s giving me<\/div>\n<\/div>\n<\/div>\n
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\n
and if we’re under 1370 holding under it<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then volume really comes into that<\/div>\n<\/div>\n<\/div>\n
\n
\n
downside there’s still plenty of<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh room for trades the downside on this<\/div>\n<\/div>\n<\/div>\n
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\n
as we’ve seen all day faders<\/div>\n<\/div>\n<\/div>\n
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\n
happen as well where we get these gap up<\/div>\n<\/div>\n<\/div>\n
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pre-markets<\/div>\n<\/div>\n<\/div>\n
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pre-market and that’s like the real bulk<\/div>\n<\/div>\n<\/div>\n
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of the move so<\/div>\n<\/div>\n<\/div>\n
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just trying to keep an open mind to<\/div>\n<\/div>\n<\/div>\n
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either sides and<\/div>\n<\/div>\n<\/div>\n
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not get too stubborn because you really<\/div>\n<\/div>\n<\/div>\n
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\n
don’t want to fight the trend on these<\/div>\n<\/div>\n<\/div>\n
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\n
lower flow stocks i can gap up on<\/div>\n<\/div>\n<\/div>\n
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important news if you want to learn<\/div>\n<\/div>\n<\/div>\n
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three real world setups<\/div>\n<\/div>\n<\/div>\n
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that our traders use including the<\/div>\n<\/div>\n<\/div>\n
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simple setup that we teach<\/div>\n<\/div>\n<\/div>\n
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all of our new traders and the setup<\/div>\n<\/div>\n<\/div>\n
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that turned one of our traders into a<\/div>\n<\/div>\n<\/div>\n
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seven figure big money earner<\/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 going to 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 reading the<\/div>\n<\/div>\n<\/div>\n
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tape is what gives me the most<\/div>\n<\/div>\n<\/div>\n
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information on a trade like this off the<\/div>\n<\/div>\n<\/div>\n
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open<\/div>\n<\/div>\n<\/div>\n
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everything’s happening very quickly so<\/div>\n<\/div>\n<\/div>\n
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i’ll pause it throughout<\/div>\n<\/div>\n<\/div>\n
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and kind of break down what i’m thinking<\/div>\n<\/div>\n<\/div>\n
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about<\/div>\n<\/div>\n<\/div>\n
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through each moment of the trade so i’m<\/div>\n<\/div>\n<\/div>\n
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going to start it right at the market<\/div>\n<\/div>\n<\/div>\n
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open we can see<\/div>\n<\/div>\n<\/div>\n
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we’re holding a little bit above this<\/div>\n<\/div>\n<\/div>\n
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\n
1370 area<\/div>\n<\/div>\n<\/div>\n
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\n
like the 1380s so i’m just going to be<\/div>\n<\/div>\n<\/div>\n
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\n
watching how that level reacts off the<\/div>\n<\/div>\n<\/div>\n
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open<\/div>\n<\/div>\n<\/div>\n
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so the market opens i mean see you’re<\/div>\n<\/div>\n<\/div>\n
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\n
kind of under this 1370.<\/div>\n<\/div>\n<\/div>\n
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\n
no real buying volume coming in just<\/div>\n<\/div>\n<\/div>\n
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\n
kind of holding under there but<\/div>\n<\/div>\n<\/div>\n
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\n
nothing too significant yet<\/div>\n<\/div>\n<\/div>\n
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\n
just thinking maybe this is a little bit<\/div>\n<\/div>\n<\/div>\n
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\n
weak but nothing<\/div>\n<\/div>\n<\/div>\n
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\n
sorry<\/div>\n<\/div>\n<\/div>\n
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\n
so we’re gonna get our first kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakdown here<\/div>\n<\/div>\n<\/div>\n
\n
\n
under 13.70 and i’m going to see if<\/div>\n<\/div>\n<\/div>\n
\n
\n
buyers are stepping in or if we get a<\/div>\n<\/div>\n<\/div>\n
\n
\n
real wash so you can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you get further down from that 1370<\/div>\n<\/div>\n<\/div>\n
\n
\n
and now those 1350 bids are the next<\/div>\n<\/div>\n<\/div>\n
\n
\n
area i’m looking at i’m thinking okay<\/div>\n<\/div>\n<\/div>\n
\n
\n
there are a lot of people now interested<\/div>\n<\/div>\n<\/div>\n
\n
\n
buying at 13.50<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i’ll take i’ll watch how this level<\/div>\n<\/div>\n<\/div>\n
\n
\n
reacts if it<\/div>\n<\/div>\n<\/div>\n
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\n
strongly holds then there’s definitely<\/div>\n<\/div>\n<\/div>\n
\n
\n
buyers stepping in<\/div>\n<\/div>\n<\/div>\n
\n
\n
and they give out here but if we come<\/div>\n<\/div>\n<\/div>\n
\n
\n
back to this level i’m still going to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
wary that there are buyers there and<\/div>\n<\/div>\n<\/div>\n
\n
\n
they could still come back<\/div>\n<\/div>\n<\/div>\n
\n
\n
so before i did have the long trade in<\/div>\n<\/div>\n<\/div>\n
\n
\n
this i you see i had a short scalp but<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s not important that’s just<\/div>\n<\/div>\n<\/div>\n
\n
\n
um it was getting a feel for just the<\/div>\n<\/div>\n<\/div>\n
\n
\n
tape and the trade and seeing that it<\/div>\n<\/div>\n<\/div>\n
\n
\n
really can’t break down we’re seeing<\/div>\n<\/div>\n<\/div>\n
\n
\n
this 1350 is rebid<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it quickly rebid a lot of offers at<\/div>\n<\/div>\n<\/div>\n
\n
\n
13.75<\/div>\n<\/div>\n<\/div>\n
\n
\n
so if those get taken out we’re back<\/div>\n<\/div>\n<\/div>\n
\n
\n
over<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’ll 13.70 give it a tiny bit so 13.50<\/div>\n<\/div>\n<\/div>\n
\n
\n
is still holding so<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m not liking a short idea as much<\/div>\n<\/div>\n<\/div>\n
\n
\n
anymore i’m thinking<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s some buyers really coming in we<\/div>\n<\/div>\n<\/div>\n
\n
\n
saw the large bids there couldn’t break<\/div>\n<\/div>\n<\/div>\n
\n
\n
down under<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i take my short off for break even it<\/div>\n<\/div>\n<\/div>\n
\n
\n
was like<\/div>\n<\/div>\n<\/div>\n
\n
\n
literally a three dollar loss but now<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m thinking okay where can i get long<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this<\/div>\n<\/div>\n<\/div>\n
\n
\n
if it gets over 1370 and starts holding<\/div>\n<\/div>\n<\/div>\n
\n
\n
and looks like it can really break out<\/div>\n<\/div>\n<\/div>\n
\n
\n
so then i get along there at 13.93 when<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re pulling up into 14<\/div>\n<\/div>\n<\/div>\n
\n
\n
it was really quick because i go so you<\/div>\n<\/div>\n<\/div>\n
\n
\n
can see here so<\/div>\n<\/div>\n<\/div>\n
\n
\n
1380s and we start picking up speed the<\/div>\n<\/div>\n<\/div>\n
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\n
1389<\/div>\n<\/div>\n<\/div>\n
\n
\n
bid got eaten that was highlighted and<\/div>\n<\/div>\n<\/div>\n
\n
\n
when that got taken out<\/div>\n<\/div>\n<\/div>\n
\n
\n
that got me in and then we’re through<\/div>\n<\/div>\n<\/div>\n
\n
\n
fourteen dollars<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i sell a fifth of my risk over 14<\/div>\n<\/div>\n<\/div>\n
\n
\n
there<\/div>\n<\/div>\n<\/div>\n
\n
\n
at 1409 because i know from watching it<\/div>\n<\/div>\n<\/div>\n
\n
\n
pre-market<\/div>\n<\/div>\n<\/div>\n
\n
\n
when these 1370s were holding 14<\/div>\n<\/div>\n<\/div>\n
\n
\n
was kind of the main resistance so on<\/div>\n<\/div>\n<\/div>\n
\n
\n
these opening drives they need to work<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly in your favor<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you also want to take off risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly in your favor<\/div>\n<\/div>\n<\/div>\n
\n
\n
so when i get this move over a major<\/div>\n<\/div>\n<\/div>\n
\n
\n
resistance even though it didn’t follow<\/div>\n<\/div>\n<\/div>\n
\n
\n
through i’m taking off profits through<\/div>\n<\/div>\n<\/div>\n
\n
\n
that resistance<\/div>\n<\/div>\n<\/div>\n
\n
\n
to cover my risk and then really see<\/div>\n<\/div>\n<\/div>\n
\n
\n
how the next pullback is and see if<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s a potential maybe opportunity to<\/div>\n<\/div>\n<\/div>\n
\n
\n
add or just<\/div>\n<\/div>\n<\/div>\n
\n
\n
if there’s a strong consolidation so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that was our first real pullback there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you saw we hold uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
1350 pretty well and bounce right back<\/div>\n<\/div>\n<\/div>\n
\n
\n
to 14. so that’s a little bit of a<\/div>\n<\/div>\n<\/div>\n
\n
\n
higher hold now<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we get a little bit of chop<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidation here i’m going to skip<\/div>\n<\/div>\n<\/div>\n
\n
\n
just about a minute so this is like the<\/div>\n<\/div>\n<\/div>\n
\n
\n
first real pullback<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i’m still in my long and i’m thinking<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay well 1370 was really a big level<\/div>\n<\/div>\n<\/div>\n
\n
\n
let’s see how after breaking out over 14<\/div>\n<\/div>\n<\/div>\n
\n
\n
if as we pull into 1370 if people are<\/div>\n<\/div>\n<\/div>\n
\n
\n
willing to buy this if they think hey<\/div>\n<\/div>\n<\/div>\n
\n
\n
this can break out again<\/div>\n<\/div>\n<\/div>\n
\n
\n
this has good news i think there should<\/div>\n<\/div>\n<\/div>\n
\n
\n
be real you can see that buying candle<\/div>\n<\/div>\n<\/div>\n
\n
\n
even though it was a red candle did have<\/div>\n<\/div>\n<\/div>\n
\n
\n
the most volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
even since the market opened so real<\/div>\n<\/div>\n<\/div>\n
\n
\n
buyers did come in<\/div>\n<\/div>\n<\/div>\n
\n
\n
on that upward move to 14. so over 14<\/div>\n<\/div>\n<\/div>\n
\n
\n
again and i really think shorts are<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna have to cover<\/div>\n<\/div>\n<\/div>\n
\n
\n
so actually doubled or almost doubled my<\/div>\n<\/div>\n<\/div>\n
\n
\n
size there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and got longer because i had that nice<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidation pullback over 1370<\/div>\n<\/div>\n<\/div>\n
\n
\n
1370 is now a clear area for me to risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
off of<\/div>\n<\/div>\n<\/div>\n
\n
\n
if those are bids are going to give out<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah where did you get longer right<\/div>\n<\/div>\n<\/div>\n
\n
\n
there what price<\/div>\n<\/div>\n<\/div>\n
\n
\n
um looks like 14 10 so on the breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
over 14.<\/div>\n<\/div>\n<\/div>\n
\n
\n
oh oh sorry not fully sorry so i got<\/div>\n<\/div>\n<\/div>\n
\n
\n
213.90 and then my last 100 at 14<\/div>\n<\/div>\n<\/div>\n
\n
\n
10. yeah i mean it strikes me as<\/div>\n<\/div>\n<\/div>\n
\n
\n
you want to think about could you have<\/div>\n<\/div>\n<\/div>\n
\n
\n
bought that closer to 1370 that’s kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of the real level right there<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah yeah that’s very true that’s one of<\/div>\n<\/div>\n<\/div>\n
\n
\n
the reasons why we think about<\/div>\n<\/div>\n<\/div>\n
\n
\n
what the atr in the stock is now<\/div>\n<\/div>\n<\/div>\n
\n
\n
obviously it’s going to be bigger<\/div>\n<\/div>\n<\/div>\n
\n
\n
today but it is a 13 14 stock<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you essentially have paid 40 cents<\/div>\n<\/div>\n<\/div>\n
\n
\n
on a stock whose atr is less than that<\/div>\n<\/div>\n<\/div>\n
\n
\n
my memory is correct yeah it’s uh right<\/div>\n<\/div>\n<\/div>\n
\n
\n
here in my<\/div>\n<\/div>\n<\/div>\n
\n
\n
level i like the so i like the idea that<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know it’s sort of holding a 1370<\/div>\n<\/div>\n<\/div>\n
\n
\n
1350 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
and being along to see if it’ll run from<\/div>\n<\/div>\n<\/div>\n
\n
\n
there<\/div>\n<\/div>\n<\/div>\n
\n
\n
1410 is not a really good price for<\/div>\n<\/div>\n<\/div>\n
\n
\n
that ad yeah yeah i got<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah i guess i got filled like an<\/div>\n<\/div>\n<\/div>\n
\n
\n
average price of 14 which is definitely<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh not ideal even if it is a momentum<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
but yeah the real trade would have been<\/div>\n<\/div>\n<\/div>\n
\n
\n
buying into that 1370<\/div>\n<\/div>\n<\/div>\n
\n
\n
um that’s just definitely something i’m<\/div>\n<\/div>\n<\/div>\n
\n
\n
working on and why i review the tape on<\/div>\n<\/div>\n<\/div>\n
\n
\n
these morning drives and see<\/div>\n<\/div>\n<\/div>\n
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look i mean your thesis says hey i think<\/div>\n<\/div>\n<\/div>\n
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this is going to be pretty good it’s got<\/div>\n<\/div>\n<\/div>\n
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really good news<\/div>\n<\/div>\n<\/div>\n
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we’ve got a great deal with google i<\/div>\n<\/div>\n<\/div>\n
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want to see if it actually doesn’t go<\/div>\n<\/div>\n<\/div>\n
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down anymore<\/div>\n<\/div>\n<\/div>\n
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look it didn’t really get down below<\/div>\n<\/div>\n<\/div>\n
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1350 when it got above 14<\/div>\n<\/div>\n<\/div>\n
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it actually really couldn’t get below<\/div>\n<\/div>\n<\/div>\n
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1370 so you’re sort of looking for<\/div>\n<\/div>\n<\/div>\n
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even though it’s been a downtrend in<\/div>\n<\/div>\n<\/div>\n
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that 20 area in the pre-market you’re<\/div>\n<\/div>\n<\/div>\n
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looking for that area where it can’t go<\/div>\n<\/div>\n<\/div>\n
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down any further<\/div>\n<\/div>\n<\/div>\n
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and you’re saying if i can find an area<\/div>\n<\/div>\n<\/div>\n
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where it doesn’t go down any further i<\/div>\n<\/div>\n<\/div>\n
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can get long there and then this thing<\/div>\n<\/div>\n<\/div>\n
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will run<\/div>\n<\/div>\n<\/div>\n
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from that price and so<\/div>\n<\/div>\n<\/div>\n
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you’re doing a good job of noticing that<\/div>\n<\/div>\n<\/div>\n
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but you want to if you can try and buy<\/div>\n<\/div>\n<\/div>\n
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it as close to where you are noticing<\/div>\n<\/div>\n<\/div>\n
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support<\/div>\n<\/div>\n<\/div>\n
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as is possible right yeah and that’s<\/div>\n<\/div>\n<\/div>\n
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definitely something<\/div>\n<\/div>\n<\/div>\n
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probably the biggest thing i’m working<\/div>\n<\/div>\n<\/div>\n
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on right now is because i often trade<\/div>\n<\/div>\n<\/div>\n
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these momentum trades and these opening<\/div>\n<\/div>\n<\/div>\n
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drives that<\/div>\n<\/div>\n<\/div>\n
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some when they don’t work you do slip uh<\/div>\n<\/div>\n<\/div>\n
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definitely more than you’d like<\/div>\n<\/div>\n<\/div>\n
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uh when hitting out so that can<\/div>\n<\/div>\n<\/div>\n
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definitely be a big<\/div>\n<\/div>\n<\/div>\n
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detriment to profits so finding these<\/div>\n<\/div>\n<\/div>\n
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support areas to buy into<\/div>\n<\/div>\n<\/div>\n
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is always definitely gonna be more i<\/div>\n<\/div>\n<\/div>\n
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mean if you’re going to buy 14 10<\/div>\n<\/div>\n<\/div>\n
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you know you’re wrong below 13.50 you’re<\/div>\n<\/div>\n<\/div>\n
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wrong below<\/div>\n<\/div>\n<\/div>\n
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13 60 60. where are you wrong<\/div>\n<\/div>\n<\/div>\n
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yes uh probably 1370 like 68<\/div>\n<\/div>\n<\/div>\n
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30. i don’t want to see it hold cleanly<\/div>\n<\/div>\n<\/div>\n
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but<\/div>\n<\/div>\n<\/div>\n
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i guess the real stuff yeah it’s 42<\/div>\n<\/div>\n<\/div>\n
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cents a risk<\/div>\n<\/div>\n<\/div>\n
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to have a good risk reward you know that<\/div>\n<\/div>\n<\/div>\n
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that means you<\/div>\n<\/div>\n<\/div>\n
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need to make a couple of bucks<\/div>\n<\/div>\n<\/div>\n
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uh three to one is you know dollar<\/div>\n<\/div>\n<\/div>\n
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twenty<\/div>\n<\/div>\n<\/div>\n
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so think of it that way right definitely<\/div>\n<\/div>\n<\/div>\n
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um yeah those<\/div>\n<\/div>\n<\/div>\n
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momentum breakout lots definitely hurt<\/div>\n<\/div>\n<\/div>\n
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your price or those momentum<\/div>\n<\/div>\n<\/div>\n
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if you’re going to buy the momentum<\/div>\n<\/div>\n<\/div>\n
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breakout you just can’t have that thing<\/div>\n<\/div>\n<\/div>\n
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tick against you at all<\/div>\n<\/div>\n<\/div>\n
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for that to work out for you to buy it<\/div>\n<\/div>\n<\/div>\n
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at that price<\/div>\n<\/div>\n<\/div>\n
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i don’t think you bought it at the right<\/div>\n<\/div>\n<\/div>\n
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price yeah i don’t think you did buy at<\/div>\n<\/div>\n<\/div>\n
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that right price that this thing can’t<\/div>\n<\/div>\n<\/div>\n
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tick against you at all<\/div>\n<\/div>\n<\/div>\n
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because you got to have your risk reward<\/div>\n<\/div>\n<\/div>\n
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make sense remember our first thing that<\/div>\n<\/div>\n<\/div>\n
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we do in trading is we control our risk<\/div>\n<\/div>\n<\/div>\n
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we’re going to walk into lots of good<\/div>\n<\/div>\n<\/div>\n
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trades that’s going to happen<\/div>\n<\/div>\n<\/div>\n
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but even on a good trade you know<\/div>\n<\/div>\n<\/div>\n
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getting it<\/div>\n<\/div>\n<\/div>\n
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42 cents away from optimal price and you<\/div>\n<\/div>\n<\/div>\n
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can’t always get it<\/div>\n<\/div>\n<\/div>\n
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exactly at 1370. but 42 cents away from<\/div>\n<\/div>\n<\/div>\n
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optimal price it’s going to really mess<\/div>\n<\/div>\n<\/div>\n
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up<\/div>\n<\/div>\n<\/div>\n
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your risk reward yeah definitely because<\/div>\n<\/div>\n<\/div>\n
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it brought my average price there<\/div>\n<\/div>\n<\/div>\n
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to 13.96 on the remaining<\/div>\n<\/div>\n<\/div>\n
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so yeah and then under 1370 i would have<\/div>\n<\/div>\n<\/div>\n
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been out<\/div>\n<\/div>\n<\/div>\n
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so about 30 cents risk after<\/div>\n<\/div>\n<\/div>\n
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that on total so<\/div>\n<\/div>\n<\/div>\n
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definitely like you said could have just<\/div>\n<\/div>\n<\/div>\n
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saved myself 30 cents a risk and that<\/div>\n<\/div>\n<\/div>\n
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could have allowed for a lot more size<\/div>\n<\/div>\n<\/div>\n
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to be added so<\/div>\n<\/div>\n<\/div>\n
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definitely um maybe the right idea just<\/div>\n<\/div>\n<\/div>\n
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not the right area to add and that’s<\/div>\n<\/div>\n<\/div>\n
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definitely<\/div>\n<\/div>\n<\/div>\n
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i’m glad you point that out to me and<\/div>\n<\/div>\n<\/div>\n
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something i’m gonna definitely<\/div>\n<\/div>\n<\/div>\n
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continue to look at and look back at my<\/div>\n<\/div>\n<\/div>\n
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other trades and see if i’ve made this<\/div>\n<\/div>\n<\/div>\n
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similar type of<\/div>\n<\/div>\n<\/div>\n
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um mistake with my ads on my opening<\/div>\n<\/div>\n<\/div>\n
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drives because i do often have solid ads<\/div>\n<\/div>\n<\/div>\n
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on these trades but the price<\/div>\n<\/div>\n<\/div>\n
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i add is usually uh not the strongest<\/div>\n<\/div>\n<\/div>\n
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um because i’m trying to do the momentum<\/div>\n<\/div>\n<\/div>\n
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ad<\/div>\n<\/div>\n<\/div>\n
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yeah you’re right to add you just need<\/div>\n<\/div>\n<\/div>\n
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to do a better job getting at the right<\/div>\n<\/div>\n<\/div>\n
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price but you your your thought process<\/div>\n<\/div>\n<\/div>\n
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as to why you should<\/div>\n<\/div>\n<\/div>\n
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add more risk is correct right<\/div>\n<\/div>\n<\/div>\n
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okay yeah that helps a lot i’ll<\/div>\n<\/div>\n<\/div>\n
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definitely keep looking at that then<\/div>\n<\/div>\n<\/div>\n
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\n
and going forward um<\/div>\n<\/div>\n<\/div>\n
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we had that pullback like we said to the<\/div>\n<\/div>\n<\/div>\n
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1470 it holds<\/div>\n<\/div>\n<\/div>\n
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and then we want to see if we can get<\/div>\n<\/div>\n<\/div>\n
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over 14 here<\/div>\n<\/div>\n<\/div>\n
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and<\/div>\n<\/div>\n<\/div>\n
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so we’re starting to see it hold over 14<\/div>\n<\/div>\n<\/div>\n
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now which is nice<\/div>\n<\/div>\n<\/div>\n
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only tested a center two below<\/div>\n<\/div>\n<\/div>\n
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so i sold like one seventh there at the<\/div>\n<\/div>\n<\/div>\n
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like top of the range<\/div>\n<\/div>\n<\/div>\n
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like 14 34 or 1 6<\/div>\n<\/div>\n<\/div>\n
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just knowing it’s kind of pre-market<\/div>\n<\/div>\n<\/div>\n
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range there were some sellers and<\/div>\n<\/div>\n<\/div>\n
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but then i’m thinking the real moves up<\/div>\n<\/div>\n<\/div>\n
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through this 1450<\/div>\n<\/div>\n<\/div>\n
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um or at least two fourteen fifty<\/div>\n<\/div>\n<\/div>\n
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and in the next minute we are actually<\/div>\n<\/div>\n<\/div>\n
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going to get our first limit up halt<\/div>\n<\/div>\n<\/div>\n
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so this is really important here to see<\/div>\n<\/div>\n<\/div>\n
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how weak this pullback is<\/div>\n<\/div>\n<\/div>\n
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to show that there’s real continued<\/div>\n<\/div>\n<\/div>\n
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strength there’s like no volume on this<\/div>\n<\/div>\n<\/div>\n
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pullback handle<\/div>\n<\/div>\n<\/div>\n
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matt you see how that’s made a new high<\/div>\n<\/div>\n<\/div>\n
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from the open<\/div>\n<\/div>\n<\/div>\n
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yeah yeah see how i’m not moving made a<\/div>\n<\/div>\n<\/div>\n
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new high<\/div>\n<\/div>\n<\/div>\n
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or out here and then yeah yeah yeah i<\/div>\n<\/div>\n<\/div>\n
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\n
mean it just got up into the 30s that’s<\/div>\n<\/div>\n<\/div>\n
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the new high from the open<\/div>\n<\/div>\n<\/div>\n
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what do you want to be thinking when you<\/div>\n<\/div>\n<\/div>\n
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see that new high from the open<\/div>\n<\/div>\n<\/div>\n
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look your thesis says hey i think this<\/div>\n<\/div>\n<\/div>\n
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has come off from 20 but i like the deal<\/div>\n<\/div>\n<\/div>\n
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i think there’s going to be a lot of<\/div>\n<\/div>\n<\/div>\n
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buyers that may come into this i’m<\/div>\n<\/div>\n<\/div>\n
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\n
looking for support areas<\/div>\n<\/div>\n<\/div>\n
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\n
i’ve seen one at 13.70 now i’m above the<\/div>\n<\/div>\n<\/div>\n
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opening range<\/div>\n<\/div>\n<\/div>\n
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\n
now that you’re above the opening range<\/div>\n<\/div>\n<\/div>\n
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what is the market telling you<\/div>\n<\/div>\n<\/div>\n
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i should be thinking that anyone who had<\/div>\n<\/div>\n<\/div>\n
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been trying to short this in that<\/div>\n<\/div>\n<\/div>\n
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\n
pre-market range a lot of them are going<\/div>\n<\/div>\n<\/div>\n
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to be<\/div>\n<\/div>\n<\/div>\n
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\n
covering out there’s clear buyers with<\/div>\n<\/div>\n<\/div>\n
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\n
volumes so this could be a longer term<\/div>\n<\/div>\n<\/div>\n
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\n
trend move if it is an institution or a<\/div>\n<\/div>\n<\/div>\n
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\n
big desk something along those lines<\/div>\n<\/div>\n<\/div>\n
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\n
and what should you be doing uh most<\/div>\n<\/div>\n<\/div>\n
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likely adding through<\/div>\n<\/div>\n<\/div>\n
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yes and how should you be trying to add<\/div>\n<\/div>\n<\/div>\n
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um in this<\/div>\n<\/div>\n<\/div>\n
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pullback here when you should be bidding<\/div>\n<\/div>\n<\/div>\n
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it’s still volatile<\/div>\n<\/div>\n<\/div>\n
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\n
right yeah so you want to be bidding in<\/div>\n<\/div>\n<\/div>\n
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front of 14<\/div>\n<\/div>\n<\/div>\n
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and at a minimum so i’m instinctively<\/div>\n<\/div>\n<\/div>\n
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when i see that<\/div>\n<\/div>\n<\/div>\n
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\n
break the top of the opening range and i<\/div>\n<\/div>\n<\/div>\n
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see<\/div>\n<\/div>\n<\/div>\n
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i see that i’m thinking i’m right i’m<\/div>\n<\/div>\n<\/div>\n
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right my thesis is right it’s being<\/div>\n<\/div>\n<\/div>\n
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confirmed by price<\/div>\n<\/div>\n<\/div>\n
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i’m more likely to be right than i was<\/div>\n<\/div>\n<\/div>\n
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before and so<\/div>\n<\/div>\n<\/div>\n
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i want to bid at a minimum in front of<\/div>\n<\/div>\n<\/div>\n
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\n
14<\/div>\n<\/div>\n<\/div>\n
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\n
and then i want to watch the pull in and<\/div>\n<\/div>\n<\/div>\n
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if it doesn’t get<\/div>\n<\/div>\n<\/div>\n
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\n
back into 14 and it can’t go below a<\/div>\n<\/div>\n<\/div>\n
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certain price<\/div>\n<\/div>\n<\/div>\n
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\n
i’m going to think about adding you know<\/div>\n<\/div>\n<\/div>\n
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\n
maybe goes to the teens i’m going to<\/div>\n<\/div>\n<\/div>\n
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think about adding there<\/div>\n<\/div>\n<\/div>\n
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and seeing if i can catch this this this<\/div>\n<\/div>\n<\/div>\n
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run to the upside does that make sense<\/div>\n<\/div>\n<\/div>\n
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that makes a lot of sense to try and<\/div>\n<\/div>\n<\/div>\n
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wait for that area where it starts to<\/div>\n<\/div>\n<\/div>\n
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\n
slow<\/div>\n<\/div>\n<\/div>\n
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\n
and you see that held level and try and<\/div>\n<\/div>\n<\/div>\n
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fit in there<\/div>\n<\/div>\n<\/div>\n
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for the continued breakout so<\/div>\n<\/div>\n<\/div>\n
\n
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i guess this candle we just are watching<\/div>\n<\/div>\n<\/div>\n
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\n
might be that opportunity<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you get a pull back don’t doesn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
quite come to 14<\/div>\n<\/div>\n<\/div>\n
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\n
but like 14 11 12 13 was holding well<\/div>\n<\/div>\n<\/div>\n
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\n
then we should be breaking out here and<\/div>\n<\/div>\n<\/div>\n
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\n
we get a halt soon<\/div>\n<\/div>\n<\/div>\n
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\n
yeah i mean do you see how it came into<\/div>\n<\/div>\n<\/div>\n
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\n
1411 and it stopped going down<\/div>\n<\/div>\n<\/div>\n
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yeah and it started to tick back up<\/div>\n<\/div>\n<\/div>\n
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do you see that<\/div>\n<\/div>\n<\/div>\n
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yeah yeah bye<\/div>\n<\/div>\n<\/div>\n
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\n
bye definitely yeah yeah time to add<\/div>\n<\/div>\n<\/div>\n
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risk<\/div>\n<\/div>\n<\/div>\n
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\n
bye right there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then it never pulls back from there<\/div>\n<\/div>\n<\/div>\n
\n
\n
it goes limit up<\/div>\n<\/div>\n<\/div>\n
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\n
so i sold another fifth here<\/div>\n<\/div>\n<\/div>\n
\n
\n
right before the halts just figuring<\/div>\n<\/div>\n<\/div>\n
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\n
or two fifths so<\/div>\n<\/div>\n<\/div>\n
\n
\n
down to about half of my starting shares<\/div>\n<\/div>\n<\/div>\n
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\n
now going into that halt<\/div>\n<\/div>\n<\/div>\n
\n
\n
so then i’ll skip to the reopen<\/div>\n<\/div>\n<\/div>\n
\n
\n
and this reopen i’ll preface<\/div>\n<\/div>\n<\/div>\n
\n
\n
it so we know what we’re looking for um<\/div>\n<\/div>\n<\/div>\n
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\n
it’s very strong<\/div>\n<\/div>\n<\/div>\n
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\n
it barely pulls back when it reopens<\/div>\n<\/div>\n<\/div>\n
\n
\n
and kind of just holds this 1450 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
and just goes<\/div>\n<\/div>\n<\/div>\n
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\n
pretty um it goes limit up again in like<\/div>\n<\/div>\n<\/div>\n
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\n
two minutes so<\/div>\n<\/div>\n<\/div>\n
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\n
get ready for the reopen so you can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s just no pullback off the reopen<\/div>\n<\/div>\n<\/div>\n
\n
\n
it was in the 50s for a second and now<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re in the 80s<\/div>\n<\/div>\n<\/div>\n
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\n
so i take off some risk again<\/div>\n<\/div>\n<\/div>\n
\n
\n
heading into this 15 area knowing that<\/div>\n<\/div>\n<\/div>\n
\n
\n
that can be a psychological level we saw<\/div>\n<\/div>\n<\/div>\n
\n
\n
some there pre-market<\/div>\n<\/div>\n<\/div>\n
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\n
we don’t quite get the 15 so i was glad<\/div>\n<\/div>\n<\/div>\n
\n
\n
i took some out at 1480 there<\/div>\n<\/div>\n<\/div>\n
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\n
but still thinking this is really strong<\/div>\n<\/div>\n<\/div>\n
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\n
still in the position<\/div>\n<\/div>\n<\/div>\n
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still thinking this can go limit up<\/div>\n<\/div>\n<\/div>\n
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\n
again especially with the low floats<\/div>\n<\/div>\n<\/div>\n
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\n
recently we had seen kodak before this<\/div>\n<\/div>\n<\/div>\n
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\n
and<\/div>\n<\/div>\n<\/div>\n
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\n
and you can see that 15 can’t even<\/div>\n<\/div>\n<\/div>\n
\n
\n
really hold as a resistance<\/div>\n<\/div>\n<\/div>\n
\n
\n
um i sold out a little more over 15 at<\/div>\n<\/div>\n<\/div>\n
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\n
15 10.<\/div>\n<\/div>\n<\/div>\n
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\n
i didn’t know yeah and look it’s always<\/div>\n<\/div>\n<\/div>\n
\n
\n
good to have a system to take profits<\/div>\n<\/div>\n<\/div>\n
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\n
into a not move my sense is a better<\/div>\n<\/div>\n<\/div>\n
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\n
blueprint is<\/div>\n<\/div>\n<\/div>\n
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\n
one-fifth into that first limit up<\/div>\n<\/div>\n<\/div>\n
\n
\n
one-fifth into 15 and you should be at a<\/div>\n<\/div>\n<\/div>\n
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minimum<\/div>\n<\/div>\n<\/div>\n
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\n
long three-fifths of whatever your<\/div>\n<\/div>\n<\/div>\n
\n
\n
original position was<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay yeah i’m down to one-fifth now<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then even less i sold another 50.<\/div>\n<\/div>\n<\/div>\n
\n
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when i felt like we were getting<\/div>\n<\/div>\n<\/div>\n
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overextended but this is one of the<\/div>\n<\/div>\n<\/div>\n
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biggest critiques i have in my critique<\/div>\n<\/div>\n<\/div>\n
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slide is<\/div>\n<\/div>\n<\/div>\n
\n
\n
scaling out in all of here there was<\/div>\n<\/div>\n<\/div>\n
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\n
really no pullbacks there was really no<\/div>\n<\/div>\n<\/div>\n
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weakness like i should really be<\/div>\n<\/div>\n<\/div>\n
\n
\n
thinking this can go limit up again<\/div>\n<\/div>\n<\/div>\n
\n
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after seeing so many variables in my<\/div>\n<\/div>\n<\/div>\n
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favor into the first limit up<\/div>\n<\/div>\n<\/div>\n
\n
\n
it reopens is so strong and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
just continues going um so we’ll see<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s about to halt here<\/div>\n<\/div>\n<\/div>\n
\n
\n
at 1573.<\/div>\n<\/div>\n<\/div>\n
\n
\n
what’s the short interest in this uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
the short float i think was only like<\/div>\n<\/div>\n<\/div>\n
\n
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three percent<\/div>\n<\/div>\n<\/div>\n
\n
\n
so it didn’t stand out to me too much<\/div>\n<\/div>\n<\/div>\n
\n
\n
so we reopen at<\/div>\n<\/div>\n<\/div>\n
\n
\n
2038 and you can see we open up above<\/div>\n<\/div>\n<\/div>\n
\n
\n
that 16 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so this is the last limit up halt<\/div>\n<\/div>\n<\/div>\n
\n
\n
just to give some<\/div>\n<\/div>\n<\/div>\n
\n
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context and i’m gonna show you what my<\/div>\n<\/div>\n<\/div>\n
\n
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final exit sign was on my last shares<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re gonna see it break up to 17<\/div>\n<\/div>\n<\/div>\n
\n
\n
have like a large bid there and when it<\/div>\n<\/div>\n<\/div>\n
\n
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can’t hold that bid over seventeen<\/div>\n<\/div>\n<\/div>\n
\n
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dollars<\/div>\n<\/div>\n<\/div>\n
\n
\n
i take my last um shares off so we’ll<\/div>\n<\/div>\n<\/div>\n
\n
\n
see<\/div>\n<\/div>\n<\/div>\n
\n
\n
i only skip that just like one<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay to reopen in five seconds<\/div>\n<\/div>\n<\/div>\n
\n
\n
you see we reopen right above 16. it<\/div>\n<\/div>\n<\/div>\n
\n
\n
holds pretty well<\/div>\n<\/div>\n<\/div>\n
\n
\n
we even have bids below 16 to hold it up<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m sorry we had one more haul after<\/div>\n<\/div>\n<\/div>\n
\n
\n
this as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
so yeah hold 16.81 so i still have a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little bit of my shares only 25 trying<\/div>\n<\/div>\n<\/div>\n
\n
\n
to stick with it but<\/div>\n<\/div>\n<\/div>\n
\n
\n
definitely scaled out a little too early<\/div>\n<\/div>\n<\/div>\n
\n
\n
so the last three open is the one where<\/div>\n<\/div>\n<\/div>\n
\n
\n
we push over<\/div>\n<\/div>\n<\/div>\n
\n
\n
17 and then it quickly gives out ending<\/div>\n<\/div>\n<\/div>\n
\n
\n
the trade for me<\/div>\n<\/div>\n<\/div>\n
\n
\n
start to reopen see we’re over 17<\/div>\n<\/div>\n<\/div>\n
\n
\n
sees large bids at 17.<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so i’m like okay we held that held<\/div>\n<\/div>\n<\/div>\n
\n
\n
those bids<\/div>\n<\/div>\n<\/div>\n
\n
\n
we popped up so this is really strong we<\/div>\n<\/div>\n<\/div>\n
\n
\n
should probably just like go up into 18<\/div>\n<\/div>\n<\/div>\n
\n
\n
and go either limit up again or at least<\/div>\n<\/div>\n<\/div>\n
\n
\n
break out to a new high<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then you’re going to see we’re going<\/div>\n<\/div>\n<\/div>\n
\n
\n
to pull back to 17 bids are going to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
decremented and i’m going to get short<\/div>\n<\/div>\n<\/div>\n
\n
\n
and are not short get<\/div>\n<\/div>\n<\/div>\n
\n
\n
flat completely sell my long position<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then the stock actually does go<\/div>\n<\/div>\n<\/div>\n
\n
\n
limit down<\/div>\n<\/div>\n<\/div>\n
\n
\n
from there so watching the 17-17 gave<\/div>\n<\/div>\n<\/div>\n
\n
\n
out and i got out at<\/div>\n<\/div>\n<\/div>\n
\n
\n
1687.<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah really good exit excellent really<\/div>\n<\/div>\n<\/div>\n
\n
\n
well thought out good job<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a great exit and you know really<\/div>\n<\/div>\n<\/div>\n
\n
\n
good<\/div>\n<\/div>\n<\/div>\n
\n
\n
good formulated plan right here good<\/div>\n<\/div>\n<\/div>\n
\n
\n
formulated trade right here<\/div>\n<\/div>\n<\/div>\n
\n
\n
good good example too of what things are<\/div>\n<\/div>\n<\/div>\n
\n
\n
happening<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this uh this marketplace where<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can really catch a bundle by getting<\/div>\n<\/div>\n<\/div>\n
\n
\n
it at a good entry point<\/div>\n<\/div>\n<\/div>\n
\n
\n
really good trade i’m gonna let you end<\/div>\n<\/div>\n<\/div>\n
\n
\n
it there<\/div>\n<\/div>\n<\/div>\n
\n
\n
good work appreciate the tape really<\/div>\n<\/div>\n<\/div>\n
\n
\n
good examples of using the tape really<\/div>\n<\/div>\n<\/div>\n
\n
\n
like how you incorporated that into your<\/div>\n<\/div>\n<\/div>\n
\n
\n
playbook so you have that going forward<\/div>\n<\/div>\n<\/div>\n
\n
\n
and love you love the exit loved your<\/div>\n<\/div>\n<\/div>\n
\n
\n
last exit right there at 17 spot on<\/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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\n
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videos they’re producing for you and the<\/div>\n<\/div>\n<\/div>\n
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\n
take the time to add your feedback in<\/div>\n<\/div>\n<\/div>\n
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\n
the comments section for what videos<\/div>\n<\/div>\n<\/div>\n
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you’d like for us to produce next<\/div>\n<\/div>\n<\/div>\n
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\n
and what you found helpful from this<\/div>\n<\/div>\n<\/div>\n
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\n
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\n
train and trade well<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\"\"<\/a><\/p>\n

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

In this video, learn how to improve your trading entries. Mike provides critical feedback to a junior trader to help him improve his trading entries in ADT, after this company struck a game-changing deal with Google. 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":50047,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-50044","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nHow to improve your trading entries | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/how-to-improve-your-trading-entries\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to improve your trading entries | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In this video, learn how to improve your trading entries. 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