{"id":50070,"date":"2020-08-21T13:48:21","date_gmt":"2020-08-21T17:48:21","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50070"},"modified":"2020-08-21T13:48:21","modified_gmt":"2020-08-21T17:48:21","slug":"how-to-make-a-quality-breakout-trade-in-the-hottest-stock-in-the-market-tesla","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-to-make-a-quality-breakout-trade-in-the-hottest-stock-in-the-market-tesla","title":{"rendered":"How to make a quality Breakout Trade in the hottest stock in the market (Tesla)"},"content":{"rendered":"

In this video, learn how to make a quality Breakout Trade in the hottest stock in the market -Tesla. Two firm traders break down in step-by-step detail their profitable Breakout Trade in Tesla. 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 make a<\/div>\n<\/div>\n<\/div>\n
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quality breakout trade<\/div>\n<\/div>\n<\/div>\n
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in the hottest stock in the market tesla<\/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<\/div>\n<\/div>\n<\/div>\n
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located in midtown manhattan and i’m<\/div>\n<\/div>\n<\/div>\n
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also the author of the trading classic<\/div>\n<\/div>\n<\/div>\n
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one good trade<\/div>\n<\/div>\n<\/div>\n
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in the playbook in this video two firm<\/div>\n<\/div>\n<\/div>\n
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traders break down in step-by-step<\/div>\n<\/div>\n<\/div>\n
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detail<\/div>\n<\/div>\n<\/div>\n
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their profitable breakout trade and<\/div>\n<\/div>\n<\/div>\n
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tesla 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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so this was the stock split news<\/div>\n<\/div>\n<\/div>\n
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breakout in tesla<\/div>\n<\/div>\n<\/div>\n
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so big picture uh the day before in the<\/div>\n<\/div>\n<\/div>\n
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after-hours tesla announced a<\/div>\n<\/div>\n<\/div>\n
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five-to-one<\/div>\n<\/div>\n<\/div>\n
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stock split and that caused the stock to<\/div>\n<\/div>\n<\/div>\n
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surge eight percent<\/div>\n<\/div>\n<\/div>\n
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immediately uh in after hours this<\/div>\n<\/div>\n<\/div>\n
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followed the lead of apple which<\/div>\n<\/div>\n<\/div>\n
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surged ten percent after announcing a<\/div>\n<\/div>\n<\/div>\n
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four to one split with their earnings<\/div>\n<\/div>\n<\/div>\n
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report<\/div>\n<\/div>\n<\/div>\n
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uh two weeks prior good now that’s a<\/div>\n<\/div>\n<\/div>\n
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good job actually comparing it to how<\/div>\n<\/div>\n<\/div>\n
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apple did previously<\/div>\n<\/div>\n<\/div>\n
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in a strong market you’re going to see<\/div>\n<\/div>\n<\/div>\n
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commonalities like this<\/div>\n<\/div>\n<\/div>\n
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lots of stuff works in a really really<\/div>\n<\/div>\n<\/div>\n
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strong market<\/div>\n<\/div>\n<\/div>\n
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analysis or just checks like what you<\/div>\n<\/div>\n<\/div>\n
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just mentioned right there<\/div>\n<\/div>\n<\/div>\n
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is going to work so good job there yeah<\/div>\n<\/div>\n<\/div>\n
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absolutely<\/div>\n<\/div>\n<\/div>\n
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and so this is going to mean that the<\/div>\n<\/div>\n<\/div>\n
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tesla share price<\/div>\n<\/div>\n<\/div>\n
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uh would drop 300 to like 350 per share<\/div>\n<\/div>\n<\/div>\n
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and that makes it a lot more attractive<\/div>\n<\/div>\n<\/div>\n
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and affordable to<\/div>\n<\/div>\n<\/div>\n
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retail investors moreover<\/div>\n<\/div>\n<\/div>\n
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this morning the pre-market volume was<\/div>\n<\/div>\n<\/div>\n
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four and a half percent of average daily<\/div>\n<\/div>\n<\/div>\n
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volume<\/div>\n<\/div>\n<\/div>\n
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which is pretty high uh usually above<\/div>\n<\/div>\n<\/div>\n
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three percent<\/div>\n<\/div>\n<\/div>\n
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is kind of an indication that we’re<\/div>\n<\/div>\n<\/div>\n
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dealing with something that’s going to<\/div>\n<\/div>\n<\/div>\n
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be very in play<\/div>\n<\/div>\n<\/div>\n
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and then when tesla opened up our ball<\/div>\n<\/div>\n<\/div>\n
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was immediately at 20<\/div>\n<\/div>\n<\/div>\n
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also very good and then by 10 a.m when<\/div>\n<\/div>\n<\/div>\n
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we were looking to<\/div>\n<\/div>\n<\/div>\n
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enter the trade arvol was still holding<\/div>\n<\/div>\n<\/div>\n
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it too which is also very good<\/div>\n<\/div>\n<\/div>\n
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hey is there a certain arvol that you<\/div>\n<\/div>\n<\/div>\n
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guys like for these high beta names<\/div>\n<\/div>\n<\/div>\n
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i think above one half or two later in<\/div>\n<\/div>\n<\/div>\n
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the day<\/div>\n<\/div>\n<\/div>\n
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and then open our ball above 10 is very<\/div>\n<\/div>\n<\/div>\n
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solid<\/div>\n<\/div>\n<\/div>\n
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uh below that it tends to be a little<\/div>\n<\/div>\n<\/div>\n
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questionable<\/div>\n<\/div>\n<\/div>\n
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so big picture uh spy of course has been<\/div>\n<\/div>\n<\/div>\n
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grinding back<\/div>\n<\/div>\n<\/div>\n
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to yearly highs over the last five<\/div>\n<\/div>\n<\/div>\n
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months ever since botting him out<\/div>\n<\/div>\n<\/div>\n
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bottoming out in march on the fed<\/div>\n<\/div>\n<\/div>\n
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unlimited qe news<\/div>\n<\/div>\n<\/div>\n
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you can see that we are in a high time<\/div>\n<\/div>\n<\/div>\n
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frame uptrend holding above the 200<\/div>\n<\/div>\n<\/div>\n
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daily moving average<\/div>\n<\/div>\n<\/div>\n
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and then also holding above the yearly<\/div>\n<\/div>\n<\/div>\n
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v-wop<\/div>\n<\/div>\n<\/div>\n
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the tech sector with nasdaq has been in<\/div>\n<\/div>\n<\/div>\n
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an extremely strong<\/div>\n<\/div>\n<\/div>\n
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uptrend uh holding well above the the<\/div>\n<\/div>\n<\/div>\n
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200 daily and the yearly view<\/div>\n<\/div>\n<\/div>\n
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up and we also threw in uh that uh<\/div>\n<\/div>\n<\/div>\n
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on this day specifically we weren’t<\/div>\n<\/div>\n<\/div>\n
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really overbought necessarily on the<\/div>\n<\/div>\n<\/div>\n
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daily the daily rsi was only<\/div>\n<\/div>\n<\/div>\n
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55 and you can see that we didn’t really<\/div>\n<\/div>\n<\/div>\n
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we’re not really forming short-term tops<\/div>\n<\/div>\n<\/div>\n
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until that rsi gets overbought above 70<\/div>\n<\/div>\n<\/div>\n
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and so<\/div>\n<\/div>\n<\/div>\n
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um we’re not looking to we’re looking to<\/div>\n<\/div>\n<\/div>\n
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buy breakouts in tech stocks still<\/div>\n<\/div>\n<\/div>\n
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um we’re still you know leading to the<\/div>\n<\/div>\n<\/div>\n
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buy side with this tech rally so if rsi<\/div>\n<\/div>\n<\/div>\n
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was above 70<\/div>\n<\/div>\n<\/div>\n
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different trade for you yeah i think<\/div>\n<\/div>\n<\/div>\n
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that would mean<\/div>\n<\/div>\n<\/div>\n
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we would be less willing to look for a<\/div>\n<\/div>\n<\/div>\n
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breakout and more looking to<\/div>\n<\/div>\n<\/div>\n
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short really overbought tech stocks<\/div>\n<\/div>\n<\/div>\n
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okay good um so tesla on the one year um<\/div>\n<\/div>\n<\/div>\n
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was uh interesting to us because it had<\/div>\n<\/div>\n<\/div>\n
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pulled back<\/div>\n<\/div>\n<\/div>\n
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20 over 20 percent from its highs after<\/div>\n<\/div>\n<\/div>\n
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releasing earnings<\/div>\n<\/div>\n<\/div>\n
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but again very strong uptrend this going<\/div>\n<\/div>\n<\/div>\n
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back to<\/div>\n<\/div>\n<\/div>\n
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october of 2019 this is one of the<\/div>\n<\/div>\n<\/div>\n
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strongest stocks in the nasdaq<\/div>\n<\/div>\n<\/div>\n
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a very very solid candidate for buying<\/div>\n<\/div>\n<\/div>\n
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breakouts<\/div>\n<\/div>\n<\/div>\n
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so on the monthly chart this is a 30<\/div>\n<\/div>\n<\/div>\n
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minute chart going back one month you<\/div>\n<\/div>\n<\/div>\n
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can see that<\/div>\n<\/div>\n<\/div>\n
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uh tesla had pulled back 20<\/div>\n<\/div>\n<\/div>\n
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after reporting better better than<\/div>\n<\/div>\n<\/div>\n
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expected earnings<\/div>\n<\/div>\n<\/div>\n
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uh so we kind of got to sell the news<\/div>\n<\/div>\n<\/div>\n
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effect<\/div>\n<\/div>\n<\/div>\n
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over the last uh 20 trading days or so<\/div>\n<\/div>\n<\/div>\n
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and then on this morning what was even<\/div>\n<\/div>\n<\/div>\n
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more interesting was that<\/div>\n<\/div>\n<\/div>\n
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we spiked up in the after hours and<\/div>\n<\/div>\n<\/div>\n
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topped out pretty much exactly at<\/div>\n<\/div>\n<\/div>\n
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earnings day low and the anchored view<\/div>\n<\/div>\n<\/div>\n
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up from its earnings day so<\/div>\n<\/div>\n<\/div>\n
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this 1480 level that we were opening<\/div>\n<\/div>\n<\/div>\n
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below<\/div>\n<\/div>\n<\/div>\n
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was a very critical inflection level we<\/div>\n<\/div>\n<\/div>\n
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felt um<\/div>\n<\/div>\n<\/div>\n
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that that if it were to get above this<\/div>\n<\/div>\n<\/div>\n
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level we could have a very significant<\/div>\n<\/div>\n<\/div>\n
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breakout<\/div>\n<\/div>\n<\/div>\n
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on our hands if you want to learn three<\/div>\n<\/div>\n<\/div>\n
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real world setups that our traders use<\/div>\n<\/div>\n<\/div>\n
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including the simple setup that we teach<\/div>\n<\/div>\n<\/div>\n
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all of our new traders<\/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<\/div>\n<\/div>\n<\/div>\n
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now at the top right hand corner of your<\/div>\n<\/div>\n<\/div>\n
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screen that’s going to open up this free<\/div>\n<\/div>\n<\/div>\n
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registration page<\/div>\n<\/div>\n<\/div>\n
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in the new window so don’t worry you’re<\/div>\n<\/div>\n<\/div>\n
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not going to lose this video<\/div>\n<\/div>\n<\/div>\n
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you’re going to learn more in a couple<\/div>\n<\/div>\n<\/div>\n
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of hours from this trading workshop<\/div>\n<\/div>\n<\/div>\n
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than from years of online education so<\/div>\n<\/div>\n<\/div>\n
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our game plan this morning going to the<\/div>\n<\/div>\n<\/div>\n
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open<\/div>\n<\/div>\n<\/div>\n
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we saw that there was a very clear 1477<\/div>\n<\/div>\n<\/div>\n
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level in the pre-market<\/div>\n<\/div>\n<\/div>\n
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so we kept it very simple we were<\/div>\n<\/div>\n<\/div>\n
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thinking okay<\/div>\n<\/div>\n<\/div>\n
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if tesla gets above 1477 on volume on<\/div>\n<\/div>\n<\/div>\n
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the open we’ll look for an opening drive<\/div>\n<\/div>\n<\/div>\n
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to<\/div>\n<\/div>\n<\/div>\n
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trigger this trade otherwise if we can’t<\/div>\n<\/div>\n<\/div>\n
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get above 1477<\/div>\n<\/div>\n<\/div>\n
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then we wanted to see a pattern form on<\/div>\n<\/div>\n<\/div>\n
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the open of<\/div>\n<\/div>\n<\/div>\n
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at least 15 minutes ideally like 30 30<\/div>\n<\/div>\n<\/div>\n
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minutes to an hour even<\/div>\n<\/div>\n<\/div>\n
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and then we trade that breakout as a<\/div>\n<\/div>\n<\/div>\n
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trigger for<\/div>\n<\/div>\n<\/div>\n
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for this trade so here’s the entry um<\/div>\n<\/div>\n<\/div>\n
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tesla on the open you can see<\/div>\n<\/div>\n<\/div>\n
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uh right at 928 we spiked on the<\/div>\n<\/div>\n<\/div>\n
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imbalance<\/div>\n<\/div>\n<\/div>\n
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and that was the morning high right on<\/div>\n<\/div>\n<\/div>\n
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the open we sold off um<\/div>\n<\/div>\n<\/div>\n
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quite substantially and ended up<\/div>\n<\/div>\n<\/div>\n
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consolidating for about half an hour or<\/div>\n<\/div>\n<\/div>\n
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so<\/div>\n<\/div>\n<\/div>\n
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and then right at about 1005 um we got<\/div>\n<\/div>\n<\/div>\n
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that big ignition bar<\/div>\n<\/div>\n<\/div>\n
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through uh through the open price uh and<\/div>\n<\/div>\n<\/div>\n
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that was what triggered us to get into<\/div>\n<\/div>\n<\/div>\n
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the trade so<\/div>\n<\/div>\n<\/div>\n
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um here what we did was we entered<\/div>\n<\/div>\n<\/div>\n
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uh a core position on our joint account<\/div>\n<\/div>\n<\/div>\n
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um with a bit of a wider stop<\/div>\n<\/div>\n<\/div>\n
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uh and this uh this core position was a<\/div>\n<\/div>\n<\/div>\n
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trade to hold so how does that work so<\/div>\n<\/div>\n<\/div>\n
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you guys do a joint account<\/div>\n<\/div>\n<\/div>\n
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how do you decide what to put into a<\/div>\n<\/div>\n<\/div>\n
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joint account do you talk about it<\/div>\n<\/div>\n<\/div>\n
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before the breakout<\/div>\n<\/div>\n<\/div>\n
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you talk about who’s going to actually<\/div>\n<\/div>\n<\/div>\n
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execute how does that work<\/div>\n<\/div>\n<\/div>\n
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yeah absolutely so we we game plan ahead<\/div>\n<\/div>\n<\/div>\n
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of time if this is going to be a<\/div>\n<\/div>\n<\/div>\n
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position that we would consider putting<\/div>\n<\/div>\n<\/div>\n
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on<\/div>\n<\/div>\n<\/div>\n
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on the joint or not and of course<\/div>\n<\/div>\n<\/div>\n
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something that qualifies to be on the<\/div>\n<\/div>\n<\/div>\n
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joint is something that we’d be looking<\/div>\n<\/div>\n<\/div>\n
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to potentially hold all day because<\/div>\n<\/div>\n<\/div>\n
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the five-minute time frame of the<\/div>\n<\/div>\n<\/div>\n
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15-minute timeframe is indicative of a<\/div>\n<\/div>\n<\/div>\n
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potential intraday trend so<\/div>\n<\/div>\n<\/div>\n
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we chat about it of course before the<\/div>\n<\/div>\n<\/div>\n
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open we understand what stocks we<\/div>\n<\/div>\n<\/div>\n
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potentially want to put on joint<\/div>\n<\/div>\n<\/div>\n
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you know obviously we’re on the headset<\/div>\n<\/div>\n<\/div>\n
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all day and when something sets up like<\/div>\n<\/div>\n<\/div>\n
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that we know that we need to be putting<\/div>\n<\/div>\n<\/div>\n
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something that we can look away from<\/div>\n<\/div>\n<\/div>\n
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putting some risk on against that under<\/div>\n<\/div>\n<\/div>\n
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you know understanding that there is a<\/div>\n<\/div>\n<\/div>\n
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potential you might get a full atr<\/div>\n<\/div>\n<\/div>\n
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move um and and so one of us will will<\/div>\n<\/div>\n<\/div>\n
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immediately have<\/div>\n<\/div>\n<\/div>\n
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a trigger to put that risk on and<\/div>\n<\/div>\n<\/div>\n
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at that point we can both focus on our<\/div>\n<\/div>\n<\/div>\n
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individual accounts and getting in<\/div>\n<\/div>\n<\/div>\n
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and being nimble with the with the other<\/div>\n<\/div>\n<\/div>\n
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side so it’s got to be an a plus trade<\/div>\n<\/div>\n<\/div>\n
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for you guys to put on a<\/div>\n<\/div>\n<\/div>\n
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trade in a joint account yeah the joint<\/div>\n<\/div>\n<\/div>\n
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account is is<\/div>\n<\/div>\n<\/div>\n
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is is really meant for the trades where<\/div>\n<\/div>\n<\/div>\n
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i can<\/div>\n<\/div>\n<\/div>\n
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we can risk quite a bit of our intraday<\/div>\n<\/div>\n<\/div>\n
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stop<\/div>\n<\/div>\n<\/div>\n
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on that account because we feel as if<\/div>\n<\/div>\n<\/div>\n
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that account<\/div>\n<\/div>\n<\/div>\n
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needs something where where you are<\/div>\n<\/div>\n<\/div>\n
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using a wider stop therefore reducing<\/div>\n<\/div>\n<\/div>\n
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your rr<\/div>\n<\/div>\n<\/div>\n
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but having a high confidence setup a<\/div>\n<\/div>\n<\/div>\n
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high confidence setup we can put on<\/div>\n<\/div>\n<\/div>\n
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a lot of risk but feel comfortable with<\/div>\n<\/div>\n<\/div>\n
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that risk because you understand that<\/div>\n<\/div>\n<\/div>\n
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you’re going to be able to sit through<\/div>\n<\/div>\n<\/div>\n
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that noise<\/div>\n<\/div>\n<\/div>\n
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which is of course important to do you<\/div>\n<\/div>\n<\/div>\n
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know if you’re looking to hold for<\/div>\n<\/div>\n<\/div>\n
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for a trend move is to be able to sit<\/div>\n<\/div>\n<\/div>\n
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through some noise and look away from<\/div>\n<\/div>\n<\/div>\n
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that<\/div>\n<\/div>\n<\/div>\n
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okay great in addition to entering that<\/div>\n<\/div>\n<\/div>\n
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core position we also uh<\/div>\n<\/div>\n<\/div>\n
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put in momentum size uh with the tighter<\/div>\n<\/div>\n<\/div>\n
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stop only a seven point stop<\/div>\n<\/div>\n<\/div>\n
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um we use the two minute bar breaking<\/div>\n<\/div>\n<\/div>\n
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bar low<\/div>\n<\/div>\n<\/div>\n
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uh for for that stop and our target<\/div>\n<\/div>\n<\/div>\n
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also for that momentum size is only the<\/div>\n<\/div>\n<\/div>\n
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measured move<\/div>\n<\/div>\n<\/div>\n
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uh of that pattern and if we see it<\/div>\n<\/div>\n<\/div>\n
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stall before that will even be<\/div>\n<\/div>\n<\/div>\n
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be quick to to get out of that the<\/div>\n<\/div>\n<\/div>\n
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momentum size is<\/div>\n<\/div>\n<\/div>\n
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is not a trade to hold it’s just a size<\/div>\n<\/div>\n<\/div>\n
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where we can be<\/div>\n<\/div>\n<\/div>\n
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a lot more heavy and decides that we<\/div>\n<\/div>\n<\/div>\n
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don’t really want it to go against us<\/div>\n<\/div>\n<\/div>\n
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very much<\/div>\n<\/div>\n<\/div>\n
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\n
so that pattern target for the opening<\/div>\n<\/div>\n<\/div>\n
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\n
breakout that measured move<\/div>\n<\/div>\n<\/div>\n
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\n
ended up forming it ended up topping out<\/div>\n<\/div>\n<\/div>\n
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there<\/div>\n<\/div>\n<\/div>\n
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um nearly perfectly for for a<\/div>\n<\/div>\n<\/div>\n
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\n
short while and so we ended up covering<\/div>\n<\/div>\n<\/div>\n
\n
\n
most of our momentum shares at 1505.<\/div>\n<\/div>\n<\/div>\n
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\n
yeah you’ll see that in a stock that is<\/div>\n<\/div>\n<\/div>\n
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\n
one of the strongest stocks<\/div>\n<\/div>\n<\/div>\n
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\n
in the market you’ll see that with<\/div>\n<\/div>\n<\/div>\n
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when the market overall is really really<\/div>\n<\/div>\n<\/div>\n
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\n
strong so you get the two of those<\/div>\n<\/div>\n<\/div>\n
\n
\n
combined with this situation and you’re<\/div>\n<\/div>\n<\/div>\n
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\n
going to see things make a lot of sense<\/div>\n<\/div>\n<\/div>\n
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absolutely with the core exit um what we<\/div>\n<\/div>\n<\/div>\n
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want to be doing<\/div>\n<\/div>\n<\/div>\n
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\n
is holding with the trend but also<\/div>\n<\/div>\n<\/div>\n
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\n
taking some size off<\/div>\n<\/div>\n<\/div>\n
\n
\n
at different daily time frame resistance<\/div>\n<\/div>\n<\/div>\n
\n
\n
levels<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so before the trade we had<\/div>\n<\/div>\n<\/div>\n
\n
\n
pre-planned<\/div>\n<\/div>\n<\/div>\n
\n
\n
some daily resistance levels uh 15 17<\/div>\n<\/div>\n<\/div>\n
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\n
15 34 and 15 64.<\/div>\n<\/div>\n<\/div>\n
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\n
and uh the game plan for the exit there<\/div>\n<\/div>\n<\/div>\n
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\n
is to take off a little bit in front of<\/div>\n<\/div>\n<\/div>\n
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each daily level<\/div>\n<\/div>\n<\/div>\n
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\n
and then when we see a something that<\/div>\n<\/div>\n<\/div>\n
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looks like a failure at that daily level<\/div>\n<\/div>\n<\/div>\n
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or a high volume turn at that<\/div>\n<\/div>\n<\/div>\n
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\n
at a daily level then we’ll look to take<\/div>\n<\/div>\n<\/div>\n
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\n
off full size so<\/div>\n<\/div>\n<\/div>\n
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\n
at 15 17 we took off a little bit at 15<\/div>\n<\/div>\n<\/div>\n
\n
\n
34 we took off a little bit and then<\/div>\n<\/div>\n<\/div>\n
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\n
when we had that over extension above<\/div>\n<\/div>\n<\/div>\n
\n
\n
1564 and then failure back below<\/div>\n<\/div>\n<\/div>\n
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\n
uh on volume that’s where we covered the<\/div>\n<\/div>\n<\/div>\n
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\n
full position<\/div>\n<\/div>\n<\/div>\n
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\n
how do you guys feel about piecing out<\/div>\n<\/div>\n<\/div>\n
\n
\n
of profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
along the way the thesis overall here is<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is something that could finish high<\/div>\n<\/div>\n<\/div>\n
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\n
a day maybe even gap up the next day<\/div>\n<\/div>\n<\/div>\n
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\n
i take it and yet you’re you’re peacing<\/div>\n<\/div>\n<\/div>\n
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\n
out<\/div>\n<\/div>\n<\/div>\n
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\n
yeah i mean a big mistake with this<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade honestly was taking off too much<\/div>\n<\/div>\n<\/div>\n
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\n
too early<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think we ended up taking 50 off uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
at that first daily resistance um i mean<\/div>\n<\/div>\n<\/div>\n
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\n
it’s tough because uh you know you don’t<\/div>\n<\/div>\n<\/div>\n
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\n
want to give back a lot of unrealized<\/div>\n<\/div>\n<\/div>\n
\n
\n
unrealized profit and if you say<\/div>\n<\/div>\n<\/div>\n
\n
\n
oh i’ll trail versus the last five<\/div>\n<\/div>\n<\/div>\n
\n
\n
minute pull back low then<\/div>\n<\/div>\n<\/div>\n
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\n
you might see you know yourself get back<\/div>\n<\/div>\n<\/div>\n
\n
\n
over 50 percent of your gain<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i think taking a little bit off at<\/div>\n<\/div>\n<\/div>\n
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\n
each daily<\/div>\n<\/div>\n<\/div>\n
\n
\n
resistance and then you know taking full<\/div>\n<\/div>\n<\/div>\n
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\n
off when you see a<\/div>\n<\/div>\n<\/div>\n
\n
\n
high volume turn uh turn is uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of the right the right mix where<\/div>\n<\/div>\n<\/div>\n
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\n
you don’t give back too much<\/div>\n<\/div>\n<\/div>\n
\n
\n
of the unrealized and then you you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
stick around for most of the move<\/div>\n<\/div>\n<\/div>\n
\n
\n
so here are our executions um you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
see that<\/div>\n<\/div>\n<\/div>\n
\n
\n
we had a lot of executions on on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
because we were entering in both of our<\/div>\n<\/div>\n<\/div>\n
\n
\n
our our personal accounts and our joint<\/div>\n<\/div>\n<\/div>\n
\n
\n
account<\/div>\n<\/div>\n<\/div>\n
\n
\n
we ended up taking a good amount of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
personal shares off on that first pop um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we took off the rest uh into<\/div>\n<\/div>\n<\/div>\n
\n
\n
that 1505 1500 area<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then we were just scaling out into<\/div>\n<\/div>\n<\/div>\n
\n
\n
the uh into those daily resistances with<\/div>\n<\/div>\n<\/div>\n
\n
\n
the core position<\/div>\n<\/div>\n<\/div>\n
\n
\n
well look i gotta i gotta ask a question<\/div>\n<\/div>\n<\/div>\n
\n
\n
here so why do we do these playbook<\/div>\n<\/div>\n<\/div>\n
\n
\n
trades<\/div>\n<\/div>\n<\/div>\n
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\n
so that you can repeat um best practices<\/div>\n<\/div>\n<\/div>\n
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\n
for<\/div>\n<\/div>\n<\/div>\n
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\n
when this happens again i mean we we got<\/div>\n<\/div>\n<\/div>\n
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\n
yes<\/div>\n<\/div>\n<\/div>\n
\n
\n
what’s going on literally and i<\/div>\n<\/div>\n<\/div>\n
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\n
appreciate you guys actually doing this<\/div>\n<\/div>\n<\/div>\n
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\n
at this point right<\/div>\n<\/div>\n<\/div>\n
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\n
in time because what’s going on right<\/div>\n<\/div>\n<\/div>\n
\n
\n
now as we’re talking about this<\/div>\n<\/div>\n<\/div>\n
\n
\n
tesla breakout different prices<\/div>\n<\/div>\n<\/div>\n
\n
\n
but you guys are in the middle of a<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout trade right now<\/div>\n<\/div>\n<\/div>\n
\n
\n
in tesla correct that’s correct you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
literally right in the middle<\/div>\n<\/div>\n<\/div>\n
\n
\n
of the breakout trade above 1900 now<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s up towards 2000. you’re making a<\/div>\n<\/div>\n<\/div>\n
\n
\n
very very similar trade today<\/div>\n<\/div>\n<\/div>\n
\n
\n
based on some similarities between what<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re talking about here is that fair<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s very fair that’s exactly right<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah and so that’s why we do these<\/div>\n<\/div>\n<\/div>\n
\n
\n
playbook trades<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so i’m sure you’re going to flip the<\/div>\n<\/div>\n<\/div>\n
\n
\n
slide and<\/div>\n<\/div>\n<\/div>\n
\n
\n
talk about what you can do better<\/div>\n<\/div>\n<\/div>\n
\n
\n
and along the way i’ll give critical<\/div>\n<\/div>\n<\/div>\n
\n
\n
feedback as to<\/div>\n<\/div>\n<\/div>\n
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\n
where you guys could have done things<\/div>\n<\/div>\n<\/div>\n
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\n
better and we talked about hey should<\/div>\n<\/div>\n<\/div>\n
\n
\n
you have taken off profits where you did<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that’s an open question for you guys<\/div>\n<\/div>\n<\/div>\n
\n
\n
to decide but<\/div>\n<\/div>\n<\/div>\n
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\n
really the most important thing<\/div>\n<\/div>\n<\/div>\n
\n
\n
for the new guys listening and the<\/div>\n<\/div>\n<\/div>\n
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\n
developing guys listening is<\/div>\n<\/div>\n<\/div>\n
\n
\n
you are building your business and the<\/div>\n<\/div>\n<\/div>\n
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\n
idea is<\/div>\n<\/div>\n<\/div>\n
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\n
for you to understand what your business<\/div>\n<\/div>\n<\/div>\n
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\n
is going to be and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
have the infrastructure to do it better<\/div>\n<\/div>\n<\/div>\n
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\n
to have the techniques the learning<\/div>\n<\/div>\n<\/div>\n
\n
\n
techniques<\/div>\n<\/div>\n<\/div>\n
\n
\n
to do it better next time and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
for you guys after the close today<\/div>\n<\/div>\n<\/div>\n
\n
\n
you need to be going back and asking<\/div>\n<\/div>\n<\/div>\n
\n
\n
yourself a very simple question<\/div>\n<\/div>\n<\/div>\n
\n
\n
did you trade the breakout trade and<\/div>\n<\/div>\n<\/div>\n
\n
\n
tesla today<\/div>\n<\/div>\n<\/div>\n
\n
\n
better than what she presented here<\/div>\n<\/div>\n<\/div>\n
\n
\n
and if you did that’s terrific<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s what this is all about that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
that is that is tremendous<\/div>\n<\/div>\n<\/div>\n
\n
\n
progress and then the next time it has a<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
same question did you do it better than<\/div>\n<\/div>\n<\/div>\n
\n
\n
the next time it’s not realistic i’m<\/div>\n<\/div>\n<\/div>\n
\n
\n
sure there’s people that are sitting<\/div>\n<\/div>\n<\/div>\n
\n
\n
there saying oh if i just bought a<\/div>\n<\/div>\n<\/div>\n
\n
\n
thousand shares<\/div>\n<\/div>\n<\/div>\n
\n
\n
when tesla broke out above 1895 and 1900<\/div>\n<\/div>\n<\/div>\n
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\n
i would be up<\/div>\n<\/div>\n<\/div>\n
\n
\n
xyz you know if i just would have done<\/div>\n<\/div>\n<\/div>\n
\n
\n
one two three abc i would have made<\/div>\n<\/div>\n<\/div>\n
\n
\n
so much more money than i ever had made<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s not the point the point is<\/div>\n<\/div>\n<\/div>\n
\n
\n
to rise the bar to move the bar up<\/div>\n<\/div>\n<\/div>\n
\n
\n
to move the bar up a little bit each<\/div>\n<\/div>\n<\/div>\n
\n
\n
time so that<\/div>\n<\/div>\n<\/div>\n
\n
\n
you guys are making more money and i<\/div>\n<\/div>\n<\/div>\n
\n
\n
will of course query you guys after the<\/div>\n<\/div>\n<\/div>\n
\n
\n
close to ask you did you make enough<\/div>\n<\/div>\n<\/div>\n
\n
\n
money<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this particular tesla breakout today<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i know you’re on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the horn with max talking through it<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i’m sure<\/div>\n<\/div>\n<\/div>\n
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\n
i’m sure i’m positive i don’t even need<\/div>\n<\/div>\n<\/div>\n
\n
\n
to ask this question before i get the<\/div>\n<\/div>\n<\/div>\n
\n
\n
answer i’m sure you guys are going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
sit there and say i should have made<\/div>\n<\/div>\n<\/div>\n
\n
\n
more money<\/div>\n<\/div>\n<\/div>\n
\n
\n
but really the the question is did you<\/div>\n<\/div>\n<\/div>\n
\n
\n
get better from this<\/div>\n<\/div>\n<\/div>\n
\n
\n
presentation that you guys just did did<\/div>\n<\/div>\n<\/div>\n
\n
\n
you did you get better with this<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout trade in a high beta name<\/div>\n<\/div>\n<\/div>\n
\n
\n
the hottest stock in the marketplace and<\/div>\n<\/div>\n<\/div>\n
\n
\n
if you did<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re getting better as a trader your<\/div>\n<\/div>\n<\/div>\n
\n
\n
playbook’s really working particularly<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this marketplace<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the key is well how do i find more<\/div>\n<\/div>\n<\/div>\n
\n
\n
trades like this<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know how can i push that next<\/div>\n<\/div>\n<\/div>\n
\n
\n
level so you know maybe you guys<\/div>\n<\/div>\n<\/div>\n
\n
\n
haven’t had a trying to think of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
right number<\/div>\n<\/div>\n<\/div>\n
\n
\n
but maybe you haven’t had just in one<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
a twenty thousand dollar trade to date<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i’m i’m thinking as to whether or<\/div>\n<\/div>\n<\/div>\n
\n
\n
not you have and maybe have and if<\/div>\n<\/div>\n<\/div>\n
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\n
i actually think you guys had a a pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
big trade on that ipo<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh this this week so whatever that<\/div>\n<\/div>\n<\/div>\n
\n
\n
number is<\/div>\n<\/div>\n<\/div>\n
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\n
you know a good thing for you guys to be<\/div>\n<\/div>\n<\/div>\n
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\n
saying is you know next time i see a<\/div>\n<\/div>\n<\/div>\n
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\n
trade like this<\/div>\n<\/div>\n<\/div>\n
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\n
can i hit that next level that next p l<\/div>\n<\/div>\n<\/div>\n
\n
\n
number can i challenge myself to hit<\/div>\n<\/div>\n<\/div>\n
\n
\n
that next p<\/div>\n<\/div>\n<\/div>\n
\n
\n
l number for an a plus trade like this<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then keep moving that number<\/div>\n<\/div>\n<\/div>\n
\n
\n
up so you know one i appreciate you guys<\/div>\n<\/div>\n<\/div>\n
\n
\n
talking about this now two i almost want<\/div>\n<\/div>\n<\/div>\n
\n
\n
to kind of apologize and i hope we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
not throwing you guys off<\/div>\n<\/div>\n<\/div>\n
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\n
although you probably are just holding<\/div>\n<\/div>\n<\/div>\n
\n
\n
in as you should be and maybe this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually helping that you’re not taking<\/div>\n<\/div>\n<\/div>\n
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\n
up more<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh than maybe you didn’t want to um and<\/div>\n<\/div>\n<\/div>\n
\n
\n
the trade’s still going on<\/div>\n<\/div>\n<\/div>\n
\n
\n
but uh but the last thing is<\/div>\n<\/div>\n<\/div>\n
\n
\n
just keep getting better with these<\/div>\n<\/div>\n<\/div>\n
\n
\n
setups and obviously this is a setup<\/div>\n<\/div>\n<\/div>\n
\n
\n
this works<\/div>\n<\/div>\n<\/div>\n
\n
\n
today is a perfect example yeah and i i<\/div>\n<\/div>\n<\/div>\n
\n
\n
do want to add on that i think that the<\/div>\n<\/div>\n<\/div>\n
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\n
the playbook here is no coincidence that<\/div>\n<\/div>\n<\/div>\n
\n
\n
we were working on this<\/div>\n<\/div>\n<\/div>\n
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\n
um tuesday night wednesday night you<\/div>\n<\/div>\n<\/div>\n
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\n
know revising the playbook it’s no<\/div>\n<\/div>\n<\/div>\n
\n
\n
coincidence that thursday we come in and<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we look at i mean nearly the same<\/div>\n<\/div>\n<\/div>\n
\n
\n
exact technical setup<\/div>\n<\/div>\n<\/div>\n
\n
\n
um from a perspective of the five minute<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and and take the same exact trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and make<\/div>\n<\/div>\n<\/div>\n
\n
\n
two x we made on this one um and and we<\/div>\n<\/div>\n<\/div>\n
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\n
are still holding that’s awesome<\/div>\n<\/div>\n<\/div>\n
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\n
that is awesome that is absolutely<\/div>\n<\/div>\n<\/div>\n
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\n
terrific<\/div>\n<\/div>\n<\/div>\n
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\n
that is what that’s why we do these<\/div>\n<\/div>\n<\/div>\n
\n
\n
exercises<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah so with regard to what we did well<\/div>\n<\/div>\n<\/div>\n
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\n
what we did i think<\/div>\n<\/div>\n<\/div>\n
\n
\n
we did a good job with separating our<\/div>\n<\/div>\n<\/div>\n
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\n
core from our momentum uh this time<\/div>\n<\/div>\n<\/div>\n
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\n
around that’s some<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a new thing for us that we’ve<\/div>\n<\/div>\n<\/div>\n
\n
\n
been trying to do that way we can be<\/div>\n<\/div>\n<\/div>\n
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\n
nimble on our personal accounts with our<\/div>\n<\/div>\n<\/div>\n
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\n
momentum shares<\/div>\n<\/div>\n<\/div>\n
\n
\n
without ruining that core position at<\/div>\n<\/div>\n<\/div>\n
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\n
that initial breakout price<\/div>\n<\/div>\n<\/div>\n
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um with what we did poorly we really did<\/div>\n<\/div>\n<\/div>\n
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not risk enough<\/div>\n<\/div>\n<\/div>\n
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with this setup we only risked 15 of our<\/div>\n<\/div>\n<\/div>\n
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joint daily stop and only 10<\/div>\n<\/div>\n<\/div>\n
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of our personal daily stops on this<\/div>\n<\/div>\n<\/div>\n
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trade this is<\/div>\n<\/div>\n<\/div>\n
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way too little for this market uh what<\/div>\n<\/div>\n<\/div>\n
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we were trying to do in this market<\/div>\n<\/div>\n<\/div>\n
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with it being a lot more slow is 30 to<\/div>\n<\/div>\n<\/div>\n
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50 percent of our daily stops on a plus<\/div>\n<\/div>\n<\/div>\n
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setups<\/div>\n<\/div>\n<\/div>\n
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uh and this is because these a plus<\/div>\n<\/div>\n<\/div>\n
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setups really are few and far between<\/div>\n<\/div>\n<\/div>\n
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and so by risking a lot more on fewer<\/div>\n<\/div>\n<\/div>\n
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setups it forces us to be extremely<\/div>\n<\/div>\n<\/div>\n
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selective<\/div>\n<\/div>\n<\/div>\n
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and allows us to really get paid when<\/div>\n<\/div>\n<\/div>\n
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we’re right uh so that that really<\/div>\n<\/div>\n<\/div>\n
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encourages us to not over trade<\/div>\n<\/div>\n<\/div>\n
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and um you know make a lot more make a<\/div>\n<\/div>\n<\/div>\n
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lot more<\/div>\n<\/div>\n<\/div>\n
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on these trades all right guys<\/div>\n<\/div>\n<\/div>\n
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appreciate it maybe we’re gonna have to<\/div>\n<\/div>\n<\/div>\n
\n
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have you come back<\/div>\n<\/div>\n<\/div>\n
\n
\n
and talk about the breakout trade today<\/div>\n<\/div>\n<\/div>\n
\n
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that you guys made in tesla<\/div>\n<\/div>\n<\/div>\n
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but great to hear that you did even<\/div>\n<\/div>\n<\/div>\n
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better than this one<\/div>\n<\/div>\n<\/div>\n
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and uh another good trade here<\/div>\n<\/div>\n<\/div>\n
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appreciate it<\/div>\n<\/div>\n<\/div>\n
\n
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hey go ahead and click our subscribe<\/div>\n<\/div>\n<\/div>\n
\n
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button so you don’t miss any of the<\/div>\n<\/div>\n<\/div>\n
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videos they’re producing for you and the<\/div>\n<\/div>\n<\/div>\n
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trading community and please take the<\/div>\n<\/div>\n<\/div>\n
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time to add your feedback<\/div>\n<\/div>\n<\/div>\n
\n
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in 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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and what you found helpful from this<\/div>\n<\/div>\n<\/div>\n
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video from all of us at smb<\/div>\n<\/div>\n<\/div>\n
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train and trade well<\/div>\n<\/div>\n<\/div>\n<\/div>\"\"<\/a><\/p>\n

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

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