{"id":50223,"date":"2020-10-23T10:04:32","date_gmt":"2020-10-23T14:04:32","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50223"},"modified":"2020-10-23T10:04:32","modified_gmt":"2020-10-23T14:04:32","slug":"how-to-spot-the-stocks-you-should-stop-trading","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-to-spot-the-stocks-you-should-stop-trading","title":{"rendered":"How to Spot the Stocks You Should Stop Trading"},"content":{"rendered":"

In this video, learn how to spot the stocks you should stop trading. Two firm traders identify a stock they should stop trading in real-time. Most importantly, they explain why they should have stopped trading this stock.<\/p>\nView Video Transcript<\/strong><\/span>

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<\/div>\n<\/div>\n
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in this video learn how to spot the<\/div>\n<\/div>\n<\/div>\n
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stocks you should<\/div>\n<\/div>\n<\/div>\n
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stop trading hi i’m mike bella fury<\/div>\n<\/div>\n<\/div>\n
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co-founder of sme capital and we’re a<\/div>\n<\/div>\n<\/div>\n
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proprietary trading firm located in<\/div>\n<\/div>\n<\/div>\n
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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 two firm traders identify<\/div>\n<\/div>\n<\/div>\n
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a stock<\/div>\n<\/div>\n<\/div>\n
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they should stop trading in real time<\/div>\n<\/div>\n<\/div>\n
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most importantly they explain why they<\/div>\n<\/div>\n<\/div>\n
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should have stopped trading the stock<\/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 stop needlessly losing money<\/div>\n<\/div>\n<\/div>\n
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so we’re gonna be watching a tape from<\/div>\n<\/div>\n<\/div>\n
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logitech<\/div>\n<\/div>\n<\/div>\n
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uh from yesterday their day after<\/div>\n<\/div>\n<\/div>\n
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earnings uh<\/div>\n<\/div>\n<\/div>\n
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in just a quick synopsis of the earnings<\/div>\n<\/div>\n<\/div>\n
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uh huge beat blowout earnings<\/div>\n<\/div>\n<\/div>\n
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crushing eps beating on revenue<\/div>\n<\/div>\n<\/div>\n
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which was helped by the pandemic and<\/div>\n<\/div>\n<\/div>\n
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going into the day it was gapping up<\/div>\n<\/div>\n<\/div>\n
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to an all-time high and gapping up about<\/div>\n<\/div>\n<\/div>\n
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seven atr uh and just to mention before<\/div>\n<\/div>\n<\/div>\n
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we start uh just showing this tape<\/div>\n<\/div>\n<\/div>\n
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it’s a trade where i made some mistakes<\/div>\n<\/div>\n<\/div>\n
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and it wasn’t a good trade but trying to<\/div>\n<\/div>\n<\/div>\n
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really focus<\/div>\n<\/div>\n<\/div>\n
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on how i could notice when something’s<\/div>\n<\/div>\n<\/div>\n
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not trading clean<\/div>\n<\/div>\n<\/div>\n
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and just how to move forward to avoid<\/div>\n<\/div>\n<\/div>\n
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getting chopped up<\/div>\n<\/div>\n<\/div>\n
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in stocks after earning similar to<\/div>\n<\/div>\n<\/div>\n
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logitech<\/div>\n<\/div>\n<\/div>\n
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you want to edit them yeah i’ll add in<\/div>\n<\/div>\n<\/div>\n
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another major mover for the stock was<\/div>\n<\/div>\n<\/div>\n
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jp morgan one of the major banks had a<\/div>\n<\/div>\n<\/div>\n
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price target upgrade as well from 70 to<\/div>\n<\/div>\n<\/div>\n
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100<\/div>\n<\/div>\n<\/div>\n
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due to the major revenue of over a<\/div>\n<\/div>\n<\/div>\n
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billion dollars for the first time<\/div>\n<\/div>\n<\/div>\n
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um and then also to build off what tim<\/div>\n<\/div>\n<\/div>\n
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said yeah this<\/div>\n<\/div>\n<\/div>\n
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reading the tape session won’t as won’t<\/div>\n<\/div>\n<\/div>\n
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be a really well executed<\/div>\n<\/div>\n<\/div>\n
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trade rather it’ll be a stock that was<\/div>\n<\/div>\n<\/div>\n
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tough to trade in a stock that a couple<\/div>\n<\/div>\n<\/div>\n
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of us<\/div>\n<\/div>\n<\/div>\n
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lost money in and we kind of want to<\/div>\n<\/div>\n<\/div>\n
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point out the variables of maybe<\/div>\n<\/div>\n<\/div>\n
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why it was tough stock to trade<\/div>\n<\/div>\n<\/div>\n
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what should have been some warning signs<\/div>\n<\/div>\n<\/div>\n
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that maybe this wasn’t<\/div>\n<\/div>\n<\/div>\n
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where the best opportunity was after<\/div>\n<\/div>\n<\/div>\n
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seeing how it reacted off the open<\/div>\n<\/div>\n<\/div>\n
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and just really looking at the variables<\/div>\n<\/div>\n<\/div>\n
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that made this a difficult trader so we<\/div>\n<\/div>\n<\/div>\n
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can<\/div>\n<\/div>\n<\/div>\n
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identify that in the future to find<\/div>\n<\/div>\n<\/div>\n
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better opportunities to trade since<\/div>\n<\/div>\n<\/div>\n
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there’s going to be a lot of things<\/div>\n<\/div>\n<\/div>\n
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moving right now especially going into<\/div>\n<\/div>\n<\/div>\n
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earnings season<\/div>\n<\/div>\n<\/div>\n
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multiple uh major name companies<\/div>\n<\/div>\n<\/div>\n
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reporting earnings a day now<\/div>\n<\/div>\n<\/div>\n
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with major gaps so really keeping our<\/div>\n<\/div>\n<\/div>\n
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eyes for<\/div>\n<\/div>\n<\/div>\n
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better opportunity and noticing when<\/div>\n<\/div>\n<\/div>\n
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we’re not seeing it in real time is just<\/div>\n<\/div>\n<\/div>\n
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as important as noticing the best trades<\/div>\n<\/div>\n<\/div>\n
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so matt you’re looking to<\/div>\n<\/div>\n<\/div>\n
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spot stocks that you should not trade<\/div>\n<\/div>\n<\/div>\n
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that you should move around<\/div>\n<\/div>\n<\/div>\n
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that you should move away from so you<\/div>\n<\/div>\n<\/div>\n
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don’t lose as much money<\/div>\n<\/div>\n<\/div>\n
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exactly some a stock that might not end<\/div>\n<\/div>\n<\/div>\n
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up having the move you were looking<\/div>\n<\/div>\n<\/div>\n
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for and then kind of when they get stuck<\/div>\n<\/div>\n<\/div>\n
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back in a range or something like that<\/div>\n<\/div>\n<\/div>\n
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just kind of moving away because if it’s<\/div>\n<\/div>\n<\/div>\n
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not doing anything you planned for<\/div>\n<\/div>\n<\/div>\n
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you don’t want to force your idea on the<\/div>\n<\/div>\n<\/div>\n
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stock or for things you weren’t prepared<\/div>\n<\/div>\n<\/div>\n
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for but rather<\/div>\n<\/div>\n<\/div>\n
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look for other opportunities that might<\/div>\n<\/div>\n<\/div>\n
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be setting up a lot cleaner something<\/div>\n<\/div>\n<\/div>\n
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trending outside of a range<\/div>\n<\/div>\n<\/div>\n
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is often very attractive as a day<\/div>\n<\/div>\n<\/div>\n
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trading vehicle<\/div>\n<\/div>\n<\/div>\n
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so when we see something really stuck in<\/div>\n<\/div>\n<\/div>\n
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a range<\/div>\n<\/div>\n<\/div>\n
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off the open waiting for that to break<\/div>\n<\/div>\n<\/div>\n
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out either way is often<\/div>\n<\/div>\n<\/div>\n
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another good principle and that’s<\/div>\n<\/div>\n<\/div>\n
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something to look at in this tape it<\/div>\n<\/div>\n<\/div>\n
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really<\/div>\n<\/div>\n<\/div>\n
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can’t break either way after looking<\/div>\n<\/div>\n<\/div>\n
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like it may multiple times<\/div>\n<\/div>\n<\/div>\n
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trapping people both long and short and<\/div>\n<\/div>\n<\/div>\n
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wicking many people out before the real<\/div>\n<\/div>\n<\/div>\n
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move was made<\/div>\n<\/div>\n<\/div>\n
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like a half hour into the day good and<\/div>\n<\/div>\n<\/div>\n
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as you guys are developing very useful<\/div>\n<\/div>\n<\/div>\n
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exercise<\/div>\n<\/div>\n<\/div>\n
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to create some of the patterns that<\/div>\n<\/div>\n<\/div>\n
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you just shouldn’t be trading they’re<\/div>\n<\/div>\n<\/div>\n
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just too hard they’re not worth your<\/div>\n<\/div>\n<\/div>\n
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attention they’re not worth your<\/div>\n<\/div>\n<\/div>\n
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intellect they’re not worth your capital<\/div>\n<\/div>\n<\/div>\n
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they’re not worth they’re not worth you<\/div>\n<\/div>\n<\/div>\n
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know the firm’s capital or<\/div>\n<\/div>\n<\/div>\n
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your account capital and they’re not<\/div>\n<\/div>\n<\/div>\n
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worth your emotional capital<\/div>\n<\/div>\n<\/div>\n
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not worth your intellectual capital<\/div>\n<\/div>\n<\/div>\n
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they’re not worth<\/div>\n<\/div>\n<\/div>\n
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your capital and they’re not worth your<\/div>\n<\/div>\n<\/div>\n
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emotional capital<\/div>\n<\/div>\n<\/div>\n
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and if you can start to spot you know so<\/div>\n<\/div>\n<\/div>\n
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lots of times people say well<\/div>\n<\/div>\n<\/div>\n
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i want to eliminate my bad trades okay<\/div>\n<\/div>\n<\/div>\n
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well what does that mean<\/div>\n<\/div>\n<\/div>\n
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i want to eliminate the trades that<\/div>\n<\/div>\n<\/div>\n
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aren’t working for me okay so what does<\/div>\n<\/div>\n<\/div>\n
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that mean<\/div>\n<\/div>\n<\/div>\n
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i want to trade more of the patterns<\/div>\n<\/div>\n<\/div>\n
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that work for me<\/div>\n<\/div>\n<\/div>\n
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okay so what does that mean well it<\/div>\n<\/div>\n<\/div>\n
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means being able to spot in real time<\/div>\n<\/div>\n<\/div>\n
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stocks that aren’t moving well stocks<\/div>\n<\/div>\n<\/div>\n
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that aren’t moving well for you<\/div>\n<\/div>\n<\/div>\n
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stocks that aren’t going to move well so<\/div>\n<\/div>\n<\/div>\n
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you can go spend your time on something<\/div>\n<\/div>\n<\/div>\n
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that is you’re going to develop skills<\/div>\n<\/div>\n<\/div>\n
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that are<\/div>\n<\/div>\n<\/div>\n
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going to lead to making money<\/div>\n<\/div>\n<\/div>\n
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applied on the wrong stocks you’re not<\/div>\n<\/div>\n<\/div>\n
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so i i<\/div>\n<\/div>\n<\/div>\n
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i really like this exercise here all<\/div>\n<\/div>\n<\/div>\n
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right let’s get let’s get to it<\/div>\n<\/div>\n<\/div>\n
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all right so we’re gonna start it up uh<\/div>\n<\/div>\n<\/div>\n
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and we’re gonna see<\/div>\n<\/div>\n<\/div>\n
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this 94 level uh on the open and it’s<\/div>\n<\/div>\n<\/div>\n
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gonna be showing strength<\/div>\n<\/div>\n<\/div>\n
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uh just to mention extremely implied 185<\/div>\n<\/div>\n<\/div>\n
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our ball<\/div>\n<\/div>\n<\/div>\n
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and it was doing like 76 of his average<\/div>\n<\/div>\n<\/div>\n
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daily volume<\/div>\n<\/div>\n<\/div>\n
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first minute so here we go if you want<\/div>\n<\/div>\n<\/div>\n
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to learn three<\/div>\n<\/div>\n<\/div>\n
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real world setups that our traders use<\/div>\n<\/div>\n<\/div>\n
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including the simple setup that we teach<\/div>\n<\/div>\n<\/div>\n
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all of our new traders and the setup<\/div>\n<\/div>\n<\/div>\n
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that turned one of our traders into a<\/div>\n<\/div>\n<\/div>\n
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seven figure big money earner<\/div>\n<\/div>\n<\/div>\n
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check out the free webinar that we’re<\/div>\n<\/div>\n<\/div>\n
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currently running just go ahead and<\/div>\n<\/div>\n<\/div>\n
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click the link that should be appearing<\/div>\n<\/div>\n<\/div>\n
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right now at the top right hand corner<\/div>\n<\/div>\n<\/div>\n
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of your screen<\/div>\n<\/div>\n<\/div>\n
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that’s gonna open up this free<\/div>\n<\/div>\n<\/div>\n
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registration page in the new window<\/div>\n<\/div>\n<\/div>\n
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so don’t worry you’re not going to lose<\/div>\n<\/div>\n<\/div>\n
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this video you’re going to learn more<\/div>\n<\/div>\n<\/div>\n
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in a couple of hours from this trading<\/div>\n<\/div>\n<\/div>\n
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workshop than from years of online<\/div>\n<\/div>\n<\/div>\n
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education<\/div>\n<\/div>\n<\/div>\n
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so really what we’re going to show off<\/div>\n<\/div>\n<\/div>\n
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the open is how many prices this really<\/div>\n<\/div>\n<\/div>\n
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touches<\/div>\n<\/div>\n<\/div>\n
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on the chart you see some inflections at<\/div>\n<\/div>\n<\/div>\n
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94.<\/div>\n<\/div>\n<\/div>\n
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and then that like 95.50 area is another<\/div>\n<\/div>\n<\/div>\n
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major inflection area so we want to<\/div>\n<\/div>\n<\/div>\n
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watch how it acts around those prices<\/div>\n<\/div>\n<\/div>\n
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and if it really respects any of them<\/div>\n<\/div>\n<\/div>\n
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and what we’re going to notice in this<\/div>\n<\/div>\n<\/div>\n
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tape you can keep playing it is that<\/div>\n<\/div>\n<\/div>\n
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these levels<\/div>\n<\/div>\n<\/div>\n
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won’t be cleanly respected instead<\/div>\n<\/div>\n<\/div>\n
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they’ll kind of<\/div>\n<\/div>\n<\/div>\n
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leak through both ways and give a lot of<\/div>\n<\/div>\n<\/div>\n
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knee-jerk reactions making it really<\/div>\n<\/div>\n<\/div>\n
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tough to manage your risk<\/div>\n<\/div>\n<\/div>\n
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yeah so like you said right off the open<\/div>\n<\/div>\n<\/div>\n
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we’re up almost half an atr<\/div>\n<\/div>\n<\/div>\n
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stocks showing strength uh from that 94<\/div>\n<\/div>\n<\/div>\n
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level<\/div>\n<\/div>\n<\/div>\n
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exactly yeah it looks strong thinking<\/div>\n<\/div>\n<\/div>\n
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all right it should hold this 94 level<\/div>\n<\/div>\n<\/div>\n
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if it pulls back<\/div>\n<\/div>\n<\/div>\n
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and starts to consolidate which we start<\/div>\n<\/div>\n<\/div>\n
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to see here<\/div>\n<\/div>\n<\/div>\n
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and see it just quickly gives out<\/div>\n<\/div>\n<\/div>\n
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there’s just no hold at 94.<\/div>\n<\/div>\n<\/div>\n
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those those buyers are probably out now<\/div>\n<\/div>\n<\/div>\n
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and we’re getting back into this kind of<\/div>\n<\/div>\n<\/div>\n
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choppy range down to 9250<\/div>\n<\/div>\n<\/div>\n
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where there’s just a lot of volume being<\/div>\n<\/div>\n<\/div>\n
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done so to me not holding that 94<\/div>\n<\/div>\n<\/div>\n
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is a telltale sign that it is now weak<\/div>\n<\/div>\n<\/div>\n
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with that dropout so what i’m thinking<\/div>\n<\/div>\n<\/div>\n
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for a setup for me<\/div>\n<\/div>\n<\/div>\n
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is to short a possible retracement now<\/div>\n<\/div>\n<\/div>\n
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if we can get a move back to like 93 and<\/div>\n<\/div>\n<\/div>\n
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then risk that 94.<\/div>\n<\/div>\n<\/div>\n
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but we’ll see why that doesn’t work 93<\/div>\n<\/div>\n<\/div>\n
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like 10 is also the v wap area that’s<\/div>\n<\/div>\n<\/div>\n
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what that purple line is<\/div>\n<\/div>\n<\/div>\n
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so v wap is often used in this opening<\/div>\n<\/div>\n<\/div>\n
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like five<\/div>\n<\/div>\n<\/div>\n
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minutes as a level because sometimes the<\/div>\n<\/div>\n<\/div>\n
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levels haven’t fully developed yet and<\/div>\n<\/div>\n<\/div>\n
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people are looking for<\/div>\n<\/div>\n<\/div>\n
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things to trade off of to monitor their<\/div>\n<\/div>\n<\/div>\n
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risk better<\/div>\n<\/div>\n<\/div>\n
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so we’re thinking again if this is<\/div>\n<\/div>\n<\/div>\n
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really weak it should bounce there<\/div>\n<\/div>\n<\/div>\n
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continue to the downside<\/div>\n<\/div>\n<\/div>\n
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looks like it’s making a new low here<\/div>\n<\/div>\n<\/div>\n
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you can see you even put your cursor<\/div>\n<\/div>\n<\/div>\n
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over it seeing that yep<\/div>\n<\/div>\n<\/div>\n
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drop so quickly give out<\/div>\n<\/div>\n<\/div>\n
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so it does<\/div>\n<\/div>\n<\/div>\n
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still not involved or anything here uh<\/div>\n<\/div>\n<\/div>\n
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but we’re gonna see<\/div>\n<\/div>\n<\/div>\n
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that it’s gonna fail to hold below this<\/div>\n<\/div>\n<\/div>\n
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92 level and we’re going to get a<\/div>\n<\/div>\n<\/div>\n
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retracement<\/div>\n<\/div>\n<\/div>\n
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exactly so yeah looking back on the<\/div>\n<\/div>\n<\/div>\n
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review<\/div>\n<\/div>\n<\/div>\n
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that first retracement could have been<\/div>\n<\/div>\n<\/div>\n
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good uh but unfortunately<\/div>\n<\/div>\n<\/div>\n
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i was watching which is not enough time<\/div>\n<\/div>\n<\/div>\n
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there’s not<\/div>\n<\/div>\n<\/div>\n
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there’s not enough time too steep not<\/div>\n<\/div>\n<\/div>\n
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enough time needed<\/div>\n<\/div>\n<\/div>\n
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to go sideways a little bit more to have<\/div>\n<\/div>\n<\/div>\n
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a safe entry<\/div>\n<\/div>\n<\/div>\n
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yeah maybe you could have scalped it but<\/div>\n<\/div>\n<\/div>\n
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that’s at most so then we’re hoping if<\/div>\n<\/div>\n<\/div>\n
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this is going to be weak and actually<\/div>\n<\/div>\n<\/div>\n
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trend after all these rejections it<\/div>\n<\/div>\n<\/div>\n
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should probably hold like<\/div>\n<\/div>\n<\/div>\n
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under 92 ish and you can see it just<\/div>\n<\/div>\n<\/div>\n
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kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
pushed right back up through that level<\/div>\n<\/div>\n<\/div>\n
\n
\n
and is now holding it i’ll just mention<\/div>\n<\/div>\n<\/div>\n
\n
\n
my first trade and we’ll skip ahead matt<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think where you got involved<\/div>\n<\/div>\n<\/div>\n
\n
\n
after but so we get this second<\/div>\n<\/div>\n<\/div>\n
\n
\n
retracement here at this 92 level where<\/div>\n<\/div>\n<\/div>\n
\n
\n
it just broke<\/div>\n<\/div>\n<\/div>\n
\n
\n
down from uh and then i got short<\/div>\n<\/div>\n<\/div>\n
\n
\n
um risking now 94.<\/div>\n<\/div>\n<\/div>\n
\n
\n
and at first it looks like it’s working<\/div>\n<\/div>\n<\/div>\n
\n
\n
decently it’s going to chop around this<\/div>\n<\/div>\n<\/div>\n
\n
\n
92 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah my trade in here was i thought<\/div>\n<\/div>\n<\/div>\n
\n
\n
there could be a dip and rip set up when<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re really slowing in these 9160s<\/div>\n<\/div>\n<\/div>\n
\n
\n
and when it picked back up over 92 i<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually bought like 9210<\/div>\n<\/div>\n<\/div>\n
\n
\n
right around this time kind of expecting<\/div>\n<\/div>\n<\/div>\n
\n
\n
it to<\/div>\n<\/div>\n<\/div>\n
\n
\n
hold this 92 level my stop is like 90<\/div>\n<\/div>\n<\/div>\n
\n
\n
150<\/div>\n<\/div>\n<\/div>\n
\n
\n
or like that wick low so if it makes a<\/div>\n<\/div>\n<\/div>\n
\n
\n
new low i’m out<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we’re gonna see soon here it gets<\/div>\n<\/div>\n<\/div>\n
\n
\n
back under 92<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly wicks makes a new low and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
comes back so<\/div>\n<\/div>\n<\/div>\n
\n
\n
it stopped me out for my trade there<\/div>\n<\/div>\n<\/div>\n
\n
\n
when i was trying to<\/div>\n<\/div>\n<\/div>\n
\n
\n
buy the bounce as it didn’t really hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
that 92 level which<\/div>\n<\/div>\n<\/div>\n
\n
\n
initially looked like it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah just for us to both have thesises<\/div>\n<\/div>\n<\/div>\n
\n
\n
for<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh two different sides of the trade kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of shows you it’s up in the air<\/div>\n<\/div>\n<\/div>\n
\n
\n
definitely yeah with so many drastic<\/div>\n<\/div>\n<\/div>\n
\n
\n
movements at both sides of the range<\/div>\n<\/div>\n<\/div>\n
\n
\n
without really breaking out<\/div>\n<\/div>\n<\/div>\n
\n
\n
it just shows this there’s a lot of<\/div>\n<\/div>\n<\/div>\n
\n
\n
accumulation on both sides and<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s really going to need some time to<\/div>\n<\/div>\n<\/div>\n
\n
\n
develop a clean pattern or trend<\/div>\n<\/div>\n<\/div>\n
\n
\n
otherwise it’s going to be easy to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
chopped up like we do here<\/div>\n<\/div>\n<\/div>\n
\n
\n
especially if you’re hitting breakouts<\/div>\n<\/div>\n<\/div>\n
\n
\n
or breakdowns<\/div>\n<\/div>\n<\/div>\n
\n
\n
which are more likely to be able to<\/div>\n<\/div>\n<\/div>\n
\n
\n
happen in like the first five<\/div>\n<\/div>\n<\/div>\n
\n
\n
ten minutes of the day those are<\/div>\n<\/div>\n<\/div>\n
\n
\n
probably the best times to be hitting<\/div>\n<\/div>\n<\/div>\n
\n
\n
those momentum trades so<\/div>\n<\/div>\n<\/div>\n
\n
\n
when those aren’t following through it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
the easiest way to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
chopped up in opening drives<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah definitely and the spread is one<\/div>\n<\/div>\n<\/div>\n
\n
\n
thing to mention as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
it does get spready on this yeah right<\/div>\n<\/div>\n<\/div>\n
\n
\n
here it gives out and that’s what stops<\/div>\n<\/div>\n<\/div>\n
\n
\n
me out when i was<\/div>\n<\/div>\n<\/div>\n
\n
\n
long kind of saw the 92 and not be able<\/div>\n<\/div>\n<\/div>\n
\n
\n
to hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
makes it looks weird yeah i’m thinking<\/div>\n<\/div>\n<\/div>\n
\n
\n
this looks weak<\/div>\n<\/div>\n<\/div>\n
\n
\n
tim’s feeling good about the short just<\/div>\n<\/div>\n<\/div>\n
\n
\n
took off a third as<\/div>\n<\/div>\n<\/div>\n
\n
\n
it broke to a new low and it looks like<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s working for me<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we’re going to then see the<\/div>\n<\/div>\n<\/div>\n
\n
\n
retracement one thing about this is that<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s not a lot of time that’s gone by<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s pretty far away from b<\/div>\n<\/div>\n<\/div>\n
\n
\n
could snap back the view out still be<\/div>\n<\/div>\n<\/div>\n
\n
\n
pretty weak so your prices down here<\/div>\n<\/div>\n<\/div>\n
\n
\n
are a bit precarious oh sorry<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah i didn’t actually know that i was<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna do that<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s it’s it’s gonna pop all the way to<\/div>\n<\/div>\n<\/div>\n
\n
\n
like high of the morning like 94<\/div>\n<\/div>\n<\/div>\n
\n
\n
94 50.<\/div>\n<\/div>\n<\/div>\n
\n
\n
so pretty tough one to be building into<\/div>\n<\/div>\n<\/div>\n
\n
\n
anything short when not enough time has<\/div>\n<\/div>\n<\/div>\n
\n
\n
been spent<\/div>\n<\/div>\n<\/div>\n
\n
\n
and um things of that nature<\/div>\n<\/div>\n<\/div>\n
\n
\n
when i’m watching a stock like that that<\/div>\n<\/div>\n<\/div>\n
\n
\n
is what i would be thinking which is<\/div>\n<\/div>\n<\/div>\n
\n
\n
not enough time has gone by it’s still<\/div>\n<\/div>\n<\/div>\n
\n
\n
pretty far away from<\/div>\n<\/div>\n<\/div>\n
\n
\n
from view op it’s still far away from<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know an inflection point it could<\/div>\n<\/div>\n<\/div>\n
\n
\n
find<\/div>\n<\/div>\n<\/div>\n
\n
\n
where buyers and sellers come together<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s a little bit extended to the<\/div>\n<\/div>\n<\/div>\n
\n
\n
downside<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you have risk that it can just pop<\/div>\n<\/div>\n<\/div>\n
\n
\n
and find that equilibrium and then do<\/div>\n<\/div>\n<\/div>\n
\n
\n
some buying and selling and then figure<\/div>\n<\/div>\n<\/div>\n
\n
\n
out where it wants to go from there<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that that price can be pretty far<\/div>\n<\/div>\n<\/div>\n
\n
\n
away from<\/div>\n<\/div>\n<\/div>\n
\n
\n
from those lows of day yeah and i think<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s also important to remember the news<\/div>\n<\/div>\n<\/div>\n
\n
\n
on this was very positive<\/div>\n<\/div>\n<\/div>\n
\n
\n
and kind of a fundamental shift so<\/div>\n<\/div>\n<\/div>\n
\n
\n
people could have really been<\/div>\n<\/div>\n<\/div>\n
\n
\n
accumulating so pushing a short on such<\/div>\n<\/div>\n<\/div>\n
\n
\n
a high<\/div>\n<\/div>\n<\/div>\n
\n
\n
gap up to all-time highs can definitely<\/div>\n<\/div>\n<\/div>\n
\n
\n
be a tougher trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah definitely uh so just kind of like<\/div>\n<\/div>\n<\/div>\n
\n
\n
you mentioned mike we’re about to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
this pop<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh to view up where i was thinking of<\/div>\n<\/div>\n<\/div>\n
\n
\n
adding to the short<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh and then it’ll quickly blow me um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and stop me out blow me away from the<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade because it’s gonna go<\/div>\n<\/div>\n<\/div>\n
\n
\n
right through it<\/div>\n<\/div>\n<\/div>\n
\n
\n
so yeah at this point it now looks like<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’ve broken out of the top of the range<\/div>\n<\/div>\n<\/div>\n
\n
\n
broken out of the bottom of the range<\/div>\n<\/div>\n<\/div>\n
\n
\n
and now<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re right back kind of in the center<\/div>\n<\/div>\n<\/div>\n
\n
\n
of it so it’s really easy to get caught<\/div>\n<\/div>\n<\/div>\n
\n
\n
on either side of that with too much<\/div>\n<\/div>\n<\/div>\n
\n
\n
conviction<\/div>\n<\/div>\n<\/div>\n
\n
\n
if you’re not really letting the time<\/div>\n<\/div>\n<\/div>\n
\n
\n
and volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
show you the better the bigger picture<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then i would just say one mistake i<\/div>\n<\/div>\n<\/div>\n
\n
\n
made is at this 20 or<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah 21 ema i didn’t think we were<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting to view up it looked like it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting held up there and i added short<\/div>\n<\/div>\n<\/div>\n
\n
\n
just now to quickly take it off when it<\/div>\n<\/div>\n<\/div>\n
\n
\n
breaks through 94.<\/div>\n<\/div>\n<\/div>\n
\n
\n
everything was risked to 94 but uh just<\/div>\n<\/div>\n<\/div>\n
\n
\n
a lack of patience<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah now it looks like a classic dip and<\/div>\n<\/div>\n<\/div>\n
\n
\n
rip set up it’s like okay<\/div>\n<\/div>\n<\/div>\n
\n
\n
it pushed off the open yep then<\/div>\n<\/div>\n<\/div>\n
\n
\n
then got accumulated couldn’t quite<\/div>\n<\/div>\n<\/div>\n
\n
\n
break down<\/div>\n<\/div>\n<\/div>\n
\n
\n
red to green big move holding v wap<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then this pullback is just really<\/div>\n<\/div>\n<\/div>\n
\n
\n
steep for<\/div>\n<\/div>\n<\/div>\n
\n
\n
what you’d expect if it was strong in<\/div>\n<\/div>\n<\/div>\n
\n
\n
reversing but definitely thinking a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
more on the long side here but you want<\/div>\n<\/div>\n<\/div>\n
\n
\n
to see it really<\/div>\n<\/div>\n<\/div>\n
\n
\n
hold over the 94 level which i believe<\/div>\n<\/div>\n<\/div>\n
\n
\n
we kind of fail to do<\/div>\n<\/div>\n<\/div>\n
\n
\n
giving you more kind of confusion to<\/div>\n<\/div>\n<\/div>\n
\n
\n
which way this could really<\/div>\n<\/div>\n<\/div>\n
\n
\n
trend yeah and i remember matt too we<\/div>\n<\/div>\n<\/div>\n
\n
\n
were talking about like 92 50s<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah and a little bit that seemed to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
some buyers uh supporting that<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah i remember i i just brought up my<\/div>\n<\/div>\n<\/div>\n
\n
\n
executions i bought it 92<\/div>\n<\/div>\n<\/div>\n
\n
\n
42 in in this pullback it’s like right<\/div>\n<\/div>\n<\/div>\n
\n
\n
in here<\/div>\n<\/div>\n<\/div>\n
\n
\n
thinking okay if this is a dip and rip<\/div>\n<\/div>\n<\/div>\n
\n
\n
like this is going to be the major<\/div>\n<\/div>\n<\/div>\n
\n
\n
pullback the test under v<\/div>\n<\/div>\n<\/div>\n
\n
\n
wap these are the prices i want to be in<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and then if you want to skip ahead<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe like four or five minutes i think<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s just gonna like consolidate for the<\/div>\n<\/div>\n<\/div>\n
\n
\n
next couple minutes<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then try yeah yeah i got in on this<\/div>\n<\/div>\n<\/div>\n
\n
\n
wedge<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then i think this is actually very<\/div>\n<\/div>\n<\/div>\n
\n
\n
close to the dropout<\/div>\n<\/div>\n<\/div>\n
\n
\n
the breakdown of this wedge but at this<\/div>\n<\/div>\n<\/div>\n
\n
\n
point it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
wedging right below view up it’s looking<\/div>\n<\/div>\n<\/div>\n
\n
\n
like it could break<\/div>\n<\/div>\n<\/div>\n
\n
\n
out above 94 above viwa<\/div>\n<\/div>\n<\/div>\n
\n
\n
and watch and see if we can get above 93<\/div>\n<\/div>\n<\/div>\n
\n
\n
above view up<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then have some volume volume come in<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh but that’s not what we’re going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
see<\/div>\n<\/div>\n<\/div>\n
\n
\n
um you want to skip ahead a couple<\/div>\n<\/div>\n<\/div>\n
\n
\n
minutes again so what’s going to happen<\/div>\n<\/div>\n<\/div>\n
\n
\n
is we’re going to kind of pull back a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little deeper and we’re expecting<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it’s going to push to 94 again which<\/div>\n<\/div>\n<\/div>\n
\n
\n
really should be a major breakout if<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re testing that level again<\/div>\n<\/div>\n<\/div>\n
\n
\n
holding higher and<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah so you can see that dip there stops<\/div>\n<\/div>\n<\/div>\n
\n
\n
out our initial long idea because it<\/div>\n<\/div>\n<\/div>\n
\n
\n
just breaks down under<\/div>\n<\/div>\n<\/div>\n
\n
\n
92 but then quickly re-bids i don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
think okay should be the higher low<\/div>\n<\/div>\n<\/div>\n
\n
\n
this should really break through 94. and<\/div>\n<\/div>\n<\/div>\n
\n
\n
then i believe we get a<\/div>\n<\/div>\n<\/div>\n
\n
\n
move through 94 and then just a quick<\/div>\n<\/div>\n<\/div>\n
\n
\n
stuff back under the level<\/div>\n<\/div>\n<\/div>\n
\n
\n
and more chop and so trying to buy this<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
is definitely gonna give you really bad<\/div>\n<\/div>\n<\/div>\n
\n
\n
prices and quickly stop you out<\/div>\n<\/div>\n<\/div>\n
\n
\n
look strong look strong<\/div>\n<\/div>\n<\/div>\n
\n
\n
exactly now above view up we’re getting<\/div>\n<\/div>\n<\/div>\n
\n
\n
some volume come in<\/div>\n<\/div>\n<\/div>\n
\n
\n
oh good that’ll definitely make it work<\/div>\n<\/div>\n<\/div>\n
\n
\n
then<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah so this is going to be a big make<\/div>\n<\/div>\n<\/div>\n
\n
\n
or break point<\/div>\n<\/div>\n<\/div>\n
\n
\n
for this trade i mean it’s spent 10<\/div>\n<\/div>\n<\/div>\n
\n
\n
minutes 15 minutes now off the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
trying to break either way<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s look like it’s getting a tighter<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidation<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s holding under the level above 94.<\/div>\n<\/div>\n<\/div>\n
\n
\n
so it should really go here it should<\/div>\n<\/div>\n<\/div>\n
\n
\n
really break up towards 95<\/div>\n<\/div>\n<\/div>\n
\n
\n
here in my opinion if that accumulation<\/div>\n<\/div>\n<\/div>\n
\n
\n
was real people should be buying it<\/div>\n<\/div>\n<\/div>\n
\n
\n
higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
really pushing it up especially for a<\/div>\n<\/div>\n<\/div>\n
\n
\n
dip and rip setup<\/div>\n<\/div>\n<\/div>\n
\n
\n
that five minutes should really continue<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think that buy in the wedge to the on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the long side is is an okay trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
i mean it’s i wouldn’t call it a great<\/div>\n<\/div>\n<\/div>\n
\n
\n
trip but i think that’s an okay trade i<\/div>\n<\/div>\n<\/div>\n
\n
\n
think that’s the first<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade i’ve actually seen that i might<\/div>\n<\/div>\n<\/div>\n
\n
\n
take<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s at the highs good earnings yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
some time went by you know it traded<\/div>\n<\/div>\n<\/div>\n
\n
\n
between 92 and 93.<\/div>\n<\/div>\n<\/div>\n
\n
\n
it looks like it wants to try and go<\/div>\n<\/div>\n<\/div>\n
\n
\n
higher i think that’s an okay trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know your stop is going to be your<\/div>\n<\/div>\n<\/div>\n
\n
\n
stop’s going to be below 92<\/div>\n<\/div>\n<\/div>\n
\n
\n
probably no that’s a little bit far uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m sorry it’s straight in between<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s not as clear on it’s trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
between 90 and<\/div>\n<\/div>\n<\/div>\n
\n
\n
90. between like 91 and 94.<\/div>\n<\/div>\n<\/div>\n
\n
\n
91’s the wicklow sorry i couldn’t see it<\/div>\n<\/div>\n<\/div>\n
\n
\n
here on my screen<\/div>\n<\/div>\n<\/div>\n
\n
\n
but um yeah i mean the real stop is<\/div>\n<\/div>\n<\/div>\n
\n
\n
below those wicks there<\/div>\n<\/div>\n<\/div>\n
\n
\n
if you can show is can you see the wedge<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then the reel now before that<\/div>\n<\/div>\n<\/div>\n
\n
\n
after that sorry the one where we got<\/div>\n<\/div>\n<\/div>\n
\n
\n
stuff<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah so that red wick right there like<\/div>\n<\/div>\n<\/div>\n
\n
\n
the bot like below there<\/div>\n<\/div>\n<\/div>\n
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\n
it’s like the real stop which looks like<\/div>\n<\/div>\n<\/div>\n
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\n
that’s 90<\/div>\n<\/div>\n<\/div>\n
\n
\n
90 like 2 91 90.<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think that’s kind of yeah like 90<\/div>\n<\/div>\n<\/div>\n
\n
\n
below 92 below 9150 is probably a real<\/div>\n<\/div>\n<\/div>\n
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\n
stop<\/div>\n<\/div>\n<\/div>\n
\n
\n
for for that momentum to the upside<\/div>\n<\/div>\n<\/div>\n
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\n
that’s an okay trade i think i take that<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade you sort of buy it<\/div>\n<\/div>\n<\/div>\n
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\n
around 92 around 92.50<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe by a little bit more when the<\/div>\n<\/div>\n<\/div>\n
\n
\n
wedge breaks<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume gets a little bit better i think<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s an okay trade i think i’d be<\/div>\n<\/div>\n<\/div>\n
\n
\n
tight with that but and that’s not going<\/div>\n<\/div>\n<\/div>\n
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\n
to work right<\/div>\n<\/div>\n<\/div>\n
\n
\n
that trade’s not is that’s what happened<\/div>\n<\/div>\n<\/div>\n
\n
\n
to me i was a little too tight on it i<\/div>\n<\/div>\n<\/div>\n
\n
\n
got stopped out at like 90 to<\/div>\n<\/div>\n<\/div>\n
\n
\n
20 when i had a 92-40 entry just because<\/div>\n<\/div>\n<\/div>\n
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\n
it pulled back a bit more than we were<\/div>\n<\/div>\n<\/div>\n
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\n
expecting stopping us out<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then yeah we’re gonna push to the<\/div>\n<\/div>\n<\/div>\n
\n
\n
upside quick push over 94<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then you would expect it to pull<\/div>\n<\/div>\n<\/div>\n
\n
\n
back and hold there and it just flushes<\/div>\n<\/div>\n<\/div>\n
\n
\n
back to v-wop<\/div>\n<\/div>\n<\/div>\n
\n
\n
and gets back down to this 92 area where<\/div>\n<\/div>\n<\/div>\n
\n
\n
it<\/div>\n<\/div>\n<\/div>\n
\n
\n
consolidates and chops around for like<\/div>\n<\/div>\n<\/div>\n
\n
\n
the next 20 minutes of the morning<\/div>\n<\/div>\n<\/div>\n
\n
\n
so that’ll go to show you can skip ahead<\/div>\n<\/div>\n<\/div>\n
\n
\n
now tim if you want to show like what<\/div>\n<\/div>\n<\/div>\n
\n
\n
the pattern will look like<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah so we could see this flush just<\/div>\n<\/div>\n<\/div>\n
\n
\n
complete rejection of 94.<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh that stopped me out this brings us<\/div>\n<\/div>\n<\/div>\n
\n
\n
right back into the range<\/div>\n<\/div>\n<\/div>\n
\n
\n
exactly and i have a rule that<\/div>\n<\/div>\n<\/div>\n
\n
\n
after trading a stock and it tries to<\/div>\n<\/div>\n<\/div>\n
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\n
make opening drives and if it breaks out<\/div>\n<\/div>\n<\/div>\n
\n
\n
of the range<\/div>\n<\/div>\n<\/div>\n
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\n
and then comes back in quickly or an<\/div>\n<\/div>\n<\/div>\n
\n
\n
uncharacteristically way<\/div>\n<\/div>\n<\/div>\n
\n
\n
then i want to stay away from it for at<\/div>\n<\/div>\n<\/div>\n
\n
\n
least the next 20 minutes<\/div>\n<\/div>\n<\/div>\n
\n
\n
great rule breaks out of the range it<\/div>\n<\/div>\n<\/div>\n
\n
\n
shouldn’t come<\/div>\n<\/div>\n<\/div>\n
\n
\n
back to the middle of the range and if<\/div>\n<\/div>\n<\/div>\n
\n
\n
it does trade decision<\/div>\n<\/div>\n<\/div>\n
\n
\n
great rule because it’s going to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
really strong it should just go<\/div>\n<\/div>\n<\/div>\n
\n
\n
pop pull in there should be aggressive<\/div>\n<\/div>\n<\/div>\n
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\n
buyers<\/div>\n<\/div>\n<\/div>\n
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\n
protecting that former resistance area<\/div>\n<\/div>\n<\/div>\n
\n
\n
resistance should become support<\/div>\n<\/div>\n<\/div>\n
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\n
it’s going to be really really strong<\/div>\n<\/div>\n<\/div>\n
\n
\n
they should hold it above the breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
area<\/div>\n<\/div>\n<\/div>\n
\n
\n
totally agree with you yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
and in a similar way i looked the way<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh we just consolidated here but i would<\/div>\n<\/div>\n<\/div>\n
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\n
say like<\/div>\n<\/div>\n<\/div>\n
\n
\n
if we’re thinking about what told us<\/div>\n<\/div>\n<\/div>\n
\n
\n
that this wasn’t trading clean<\/div>\n<\/div>\n<\/div>\n
\n
\n
i would say the first notice was this<\/div>\n<\/div>\n<\/div>\n
\n
\n
retracement the red to green move<\/div>\n<\/div>\n<\/div>\n
\n
\n
where i just couldn’t pick um a<\/div>\n<\/div>\n<\/div>\n
\n
\n
direction<\/div>\n<\/div>\n<\/div>\n
\n
\n
strong opening drive then completely<\/div>\n<\/div>\n<\/div>\n
\n
\n
reversed and reversed that<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then the second thing was that flush<\/div>\n<\/div>\n<\/div>\n
\n
\n
that rejection in 94.<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think that’s a good trade in the longs<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think that’s an okay i think that’s a<\/div>\n<\/div>\n<\/div>\n
\n
\n
good trade on the long side<\/div>\n<\/div>\n<\/div>\n
\n
\n
that wedge pattern playing for the<\/div>\n<\/div>\n<\/div>\n
\n
\n
upside in a strong market<\/div>\n<\/div>\n<\/div>\n
\n
\n
strong stock i think that’s that’s a<\/div>\n<\/div>\n<\/div>\n
\n
\n
good trade it didn’t work but that’s a<\/div>\n<\/div>\n<\/div>\n
\n
\n
good trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then i think you got to move on or<\/div>\n<\/div>\n<\/div>\n
\n
\n
or or say to yourself<\/div>\n<\/div>\n<\/div>\n
\n
\n
i i have to see a really big level<\/div>\n<\/div>\n<\/div>\n
\n
\n
develop<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know maybe this you know 92 area is<\/div>\n<\/div>\n<\/div>\n
\n
\n
going to become a really big<\/div>\n<\/div>\n<\/div>\n
\n
\n
level it develops and i’m only now going<\/div>\n<\/div>\n<\/div>\n
\n
\n
to move to a plus trades so i got to see<\/div>\n<\/div>\n<\/div>\n
\n
\n
this 92 become a really big level or<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe 94 will become a really huge level<\/div>\n<\/div>\n<\/div>\n
\n
\n
and time’s gonna have to go by and it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna have to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
below or above those those areas for me<\/div>\n<\/div>\n<\/div>\n
\n
\n
to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
interested in in a swing trade so i’m<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m i’m moving to<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s not working what i’m doing and this<\/div>\n<\/div>\n<\/div>\n
\n
\n
is a little bit choppy<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe it will work maybe<\/div>\n<\/div>\n<\/div>\n
\n
\n
and maybe this is a good setup worth<\/div>\n<\/div>\n<\/div>\n
\n
\n
considering if there’s just a<\/div>\n<\/div>\n<\/div>\n
\n
\n
super technical level that gets set up<\/div>\n<\/div>\n<\/div>\n
\n
\n
intraday<\/div>\n<\/div>\n<\/div>\n
\n
\n
super clear big battle<\/div>\n<\/div>\n<\/div>\n
\n
\n
92 or 94 something like that<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m shifting my gears to i’m only in it<\/div>\n<\/div>\n<\/div>\n
\n
\n
for those types of trades definitely and<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s pretty much exactly what we see<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this for the next like<\/div>\n<\/div>\n<\/div>\n
\n
\n
10 15 minutes 92 really develops as a<\/div>\n<\/div>\n<\/div>\n
\n
\n
big level<\/div>\n<\/div>\n<\/div>\n
\n
\n
before it can trend higher back to 94.<\/div>\n<\/div>\n<\/div>\n
\n
\n
then it makes a move into 94<\/div>\n<\/div>\n<\/div>\n
\n
\n
which is still level and then pulls back<\/div>\n<\/div>\n<\/div>\n
\n
\n
and consolidates a while again<\/div>\n<\/div>\n<\/div>\n
\n
\n
so yeah you can see we do then get a<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout<\/div>\n<\/div>\n<\/div>\n
\n
\n
that does develop i could just start it<\/div>\n<\/div>\n<\/div>\n
\n
\n
like here<\/div>\n<\/div>\n<\/div>\n
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\n
yeah we don’t i don’t think we need to<\/div>\n<\/div>\n<\/div>\n
\n
\n
watch the breakout because it’s slow<\/div>\n<\/div>\n<\/div>\n
\n
\n
but i would skip ahead to like another<\/div>\n<\/div>\n<\/div>\n
\n
\n
10 minutes and show this breakout pulls<\/div>\n<\/div>\n<\/div>\n
\n
\n
back much steeper than<\/div>\n<\/div>\n<\/div>\n
\n
\n
you would expect for breaking out of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
range again<\/div>\n<\/div>\n<\/div>\n
\n
\n
comes back into like under 94. i believe<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah like here it’s like 93 30 so that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
that would still look like a kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
rejected breakout to me in a way if it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
pulling back that steeply but on a<\/div>\n<\/div>\n<\/div>\n
\n
\n
longer time frame could be accumulation<\/div>\n<\/div>\n<\/div>\n
\n
\n
like on the five minute but<\/div>\n<\/div>\n<\/div>\n
\n
\n
from a day trading perspective in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
morning these are just not the types of<\/div>\n<\/div>\n<\/div>\n
\n
\n
setups we want to be involved in<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we kind of knew wasn’t trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
cleanly from our earlier trades and it’s<\/div>\n<\/div>\n<\/div>\n
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\n
why we stayed away<\/div>\n<\/div>\n<\/div>\n
\n
\n
from this uh eventual breakout of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
wedge pattern<\/div>\n<\/div>\n<\/div>\n
\n
\n
good and just like you want to have a<\/div>\n<\/div>\n<\/div>\n
\n
\n
playbook for trades that you want to<\/div>\n<\/div>\n<\/div>\n
\n
\n
take that are your a plus setups in your<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading business<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can develop a playbook for the<\/div>\n<\/div>\n<\/div>\n
\n
\n
trades you don’t want to take and you<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s perfectly fine to say if i start to<\/div>\n<\/div>\n<\/div>\n
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\n
see these characteristics if i start to<\/div>\n<\/div>\n<\/div>\n
\n
\n
see these variables in a particular<\/div>\n<\/div>\n<\/div>\n
\n
\n
stock i’m going to stay away from<\/div>\n<\/div>\n<\/div>\n
\n
\n
it it’s not worth my time and<\/div>\n<\/div>\n<\/div>\n
\n
\n
be specific just as specific you as you<\/div>\n<\/div>\n<\/div>\n
\n
\n
are<\/div>\n<\/div>\n<\/div>\n
\n
\n
with your playbook trades i’m going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
be in a breakout trade if xyz123 happens<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can say to yourself i’m not going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
be trading a stock if abc123 happens<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it looks like you guys are saying<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is one of those<\/div>\n<\/div>\n<\/div>\n
\n
\n
those stocks just it’s too choppy<\/div>\n<\/div>\n<\/div>\n
\n
\n
exactly yeah i mean we get better when<\/div>\n<\/div>\n<\/div>\n
\n
\n
we do more of what we do well and we do<\/div>\n<\/div>\n<\/div>\n
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\n
better when we eliminate what we don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
do well and this could go on the bucket<\/div>\n<\/div>\n<\/div>\n
\n
\n
of<\/div>\n<\/div>\n<\/div>\n
\n
\n
eliminating what we don’t do well but<\/div>\n<\/div>\n<\/div>\n
\n
\n
super important<\/div>\n<\/div>\n<\/div>\n
\n
\n
to be able to say i say this to myself<\/div>\n<\/div>\n<\/div>\n
\n
\n
all the time when i’m trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
top traders say this all the time while<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’re trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s just not acting the way that i want<\/div>\n<\/div>\n<\/div>\n
\n
\n
it to and they move on<\/div>\n<\/div>\n<\/div>\n
\n
\n
that makes sense that’s definitely<\/div>\n<\/div>\n<\/div>\n
\n
\n
something to think about moving forward<\/div>\n<\/div>\n<\/div>\n
\n
\n
now i mean the other thing you do want<\/div>\n<\/div>\n<\/div>\n
\n
\n
to<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh think about is i was talking with<\/div>\n<\/div>\n<\/div>\n
\n
\n
swang today<\/div>\n<\/div>\n<\/div>\n
\n
\n
about jks and<\/div>\n<\/div>\n<\/div>\n
\n
\n
spencer was was was chirping out right<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
you guys are remote i’m in the office<\/div>\n<\/div>\n<\/div>\n
\n
\n
today<\/div>\n<\/div>\n<\/div>\n
\n
\n
with a couple of the guys spencer’s in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the office today and spencer was<\/div>\n<\/div>\n<\/div>\n
\n
\n
chirping out<\/div>\n<\/div>\n<\/div>\n
\n
\n
today about how jk has heard in the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
showed weakness<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then it showed that opening drive<\/div>\n<\/div>\n<\/div>\n
\n
\n
weakness pretty deep red candle<\/div>\n<\/div>\n<\/div>\n
\n
\n
pretty good volume that came in and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
it<\/div>\n<\/div>\n<\/div>\n
\n
\n
it so it went to the bottom of the range<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then it went all the way to the top<\/div>\n<\/div>\n<\/div>\n
\n
\n
of the range<\/div>\n<\/div>\n<\/div>\n
\n
\n
but then and then it made up a new high<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then failed<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then made a new low again so uh when<\/div>\n<\/div>\n<\/div>\n
\n
\n
it made that new low again<\/div>\n<\/div>\n<\/div>\n
\n
\n
it really started to look like<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh risk was off on this particular trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and there’s a bunch of guys that have<\/div>\n<\/div>\n<\/div>\n
\n
\n
been trading this in different ways<\/div>\n<\/div>\n<\/div>\n
\n
\n
buying some puts is one of the ways that<\/div>\n<\/div>\n<\/div>\n
\n
\n
swang was attacking this and during one<\/div>\n<\/div>\n<\/div>\n
\n
\n
particular moment of the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
it went up a little bit more than swang<\/div>\n<\/div>\n<\/div>\n
\n
\n
had hoped<\/div>\n<\/div>\n<\/div>\n
\n
\n
but i was chatting with him on chat i’m<\/div>\n<\/div>\n<\/div>\n
\n
\n
like no this is good actually like<\/div>\n<\/div>\n<\/div>\n
\n
\n
this stock has been strong we want<\/div>\n<\/div>\n<\/div>\n
\n
\n
actually a particular time when people<\/div>\n<\/div>\n<\/div>\n
\n
\n
get excited and think they’re going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
start buying this up again<\/div>\n<\/div>\n<\/div>\n
\n
\n
we want there to be a little bit more of<\/div>\n<\/div>\n<\/div>\n
\n
\n
an overextension and if if we can<\/div>\n<\/div>\n<\/div>\n
\n
\n
see that over extension and then it turn<\/div>\n<\/div>\n<\/div>\n
\n
\n
over<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know we can really add to our<\/div>\n<\/div>\n<\/div>\n
\n
\n
position and hit it hard right here<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and so i want to make sure<\/div>\n<\/div>\n<\/div>\n
\n
\n
that we make the distinction i say that<\/div>\n<\/div>\n<\/div>\n
\n
\n
because i want to make sure and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
i i happen to say to swang i’m looking<\/div>\n<\/div>\n<\/div>\n
\n
\n
to short it<\/div>\n<\/div>\n<\/div>\n
\n
\n
right here when it looked pretty hot<\/div>\n<\/div>\n<\/div>\n
\n
\n
into a not move it was still<\/div>\n<\/div>\n<\/div>\n
\n
\n
below the ewop and and his his thought<\/div>\n<\/div>\n<\/div>\n
\n
\n
process was he just didn’t like it it<\/div>\n<\/div>\n<\/div>\n
\n
\n
was<\/div>\n<\/div>\n<\/div>\n
\n
\n
it was getting too too strong for for<\/div>\n<\/div>\n<\/div>\n
\n
\n
his taste<\/div>\n<\/div>\n<\/div>\n
\n
\n
um but i said look this is this is good<\/div>\n<\/div>\n<\/div>\n
\n
\n
we want this let’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
let’s see the roll over here and we had<\/div>\n<\/div>\n<\/div>\n
\n
\n
that conversation and<\/div>\n<\/div>\n<\/div>\n
\n
\n
it ended up actually rolling over where<\/div>\n<\/div>\n<\/div>\n
\n
\n
i where i thought it was too hot<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and and and he was able to stay in<\/div>\n<\/div>\n<\/div>\n
\n
\n
the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and see that with me as well so i<\/div>\n<\/div>\n<\/div>\n
\n
\n
you do have to make the distinction<\/div>\n<\/div>\n<\/div>\n
\n
\n
between<\/div>\n<\/div>\n<\/div>\n
\n
\n
hey this is a trade this is a stock i<\/div>\n<\/div>\n<\/div>\n
\n
\n
don’t want to be in<\/div>\n<\/div>\n<\/div>\n
\n
\n
versus this is a huge opportunity<\/div>\n<\/div>\n<\/div>\n
\n
\n
and a bigger longer term trade<\/div>\n<\/div>\n<\/div>\n
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you know jks can pull in 30 and still be<\/div>\n<\/div>\n<\/div>\n
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a terribly strong stock<\/div>\n<\/div>\n<\/div>\n
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and i can use these over extensions to<\/div>\n<\/div>\n<\/div>\n
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add to a position<\/div>\n<\/div>\n<\/div>\n
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like in jks when it got too hot to add<\/div>\n<\/div>\n<\/div>\n
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to a winning trade<\/div>\n<\/div>\n<\/div>\n
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and so you you you want to make that<\/div>\n<\/div>\n<\/div>\n
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distinction with your trading sometimes<\/div>\n<\/div>\n<\/div>\n
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the craziness can be really good for us<\/div>\n<\/div>\n<\/div>\n
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if we learn to harness that well but<\/div>\n<\/div>\n<\/div>\n
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it’s got to be in the right it’s got to<\/div>\n<\/div>\n<\/div>\n
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be in the direction of the trade<\/div>\n<\/div>\n<\/div>\n
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this this this wasn’t an example so so<\/div>\n<\/div>\n<\/div>\n
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good i’ll uh read the questions we have<\/div>\n<\/div>\n<\/div>\n
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in the chat<\/div>\n<\/div>\n<\/div>\n
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uh mike can you talk about what is the<\/div>\n<\/div>\n<\/div>\n
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meaning behind of the spread getting<\/div>\n<\/div>\n<\/div>\n
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tight or wide on the tape and what does<\/div>\n<\/div>\n<\/div>\n
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it indicate<\/div>\n<\/div>\n<\/div>\n
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yeah i think you want the spread to get<\/div>\n<\/div>\n<\/div>\n
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tighter that indicates that this is the<\/div>\n<\/div>\n<\/div>\n
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moment<\/div>\n<\/div>\n<\/div>\n
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where it should break so when the spread<\/div>\n<\/div>\n<\/div>\n
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is wider and then it narrows<\/div>\n<\/div>\n<\/div>\n
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the move following that narrowing<\/div>\n<\/div>\n<\/div>\n
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it gives i add more significance to that<\/div>\n<\/div>\n<\/div>\n
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because the buyers and sellers are<\/div>\n<\/div>\n<\/div>\n
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coming together<\/div>\n<\/div>\n<\/div>\n
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and there’s going to be winners and<\/div>\n<\/div>\n<\/div>\n
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losers and i want to follow the winners<\/div>\n<\/div>\n<\/div>\n
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good to recognize that that that isn’t a<\/div>\n<\/div>\n<\/div>\n
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that is a very savvy<\/div>\n<\/div>\n<\/div>\n
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observation you’re making about a<\/div>\n<\/div>\n<\/div>\n
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particular stock and a very savvy<\/div>\n<\/div>\n<\/div>\n
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observation you’re making about the tape<\/div>\n<\/div>\n<\/div>\n
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that can give you really good<\/div>\n<\/div>\n<\/div>\n
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information then we had one more<\/div>\n<\/div>\n<\/div>\n
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kind of similar question from kyle do<\/div>\n<\/div>\n<\/div>\n
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you think that<\/div>\n<\/div>\n<\/div>\n
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setting some type of rule in regards to<\/div>\n<\/div>\n<\/div>\n
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the spread of a stock may be beneficial<\/div>\n<\/div>\n<\/div>\n
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example avoiding names with 30 cent<\/div>\n<\/div>\n<\/div>\n
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spread<\/div>\n<\/div>\n<\/div>\n
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um there’s a chance people might have<\/div>\n<\/div>\n<\/div>\n
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edged in these spreader names especially<\/div>\n<\/div>\n<\/div>\n
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when they tighten up<\/div>\n<\/div>\n<\/div>\n
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so what do you think about that look i<\/div>\n<\/div>\n<\/div>\n
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think it depends on your experience<\/div>\n<\/div>\n<\/div>\n
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level<\/div>\n<\/div>\n<\/div>\n
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it’s harder to try to spread spread your<\/div>\n<\/div>\n<\/div>\n
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stat when you’re starting i think you<\/div>\n<\/div>\n<\/div>\n
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want to start with stocks that have<\/div>\n<\/div>\n<\/div>\n
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tighter<\/div>\n<\/div>\n<\/div>\n
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spreads at the beginning of your career<\/div>\n<\/div>\n<\/div>\n
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i think you want to start with stocks<\/div>\n<\/div>\n<\/div>\n
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that have that are cheaper<\/div>\n<\/div>\n<\/div>\n
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in the beginning beginning of your<\/div>\n<\/div>\n<\/div>\n
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career as you gain more experience<\/div>\n<\/div>\n<\/div>\n
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you can trade more stocks that have a<\/div>\n<\/div>\n<\/div>\n
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little bit<\/div>\n<\/div>\n<\/div>\n
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more of a spread and that have a higher<\/div>\n<\/div>\n<\/div>\n
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price<\/div>\n<\/div>\n<\/div>\n
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um so think about that<\/div>\n<\/div>\n<\/div>\n
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easier to trade stocks that have tighter<\/div>\n<\/div>\n<\/div>\n
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spreads and are cheaper<\/div>\n<\/div>\n<\/div>\n
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and then i think of it as you know you<\/div>\n<\/div>\n<\/div>\n
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want to think about your trading career<\/div>\n<\/div>\n<\/div>\n
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as in steps you can’t climb the mountain<\/div>\n<\/div>\n<\/div>\n
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other than one step at a time<\/div>\n<\/div>\n<\/div>\n
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at the bottom of the base are the stocks<\/div>\n<\/div>\n<\/div>\n
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with<\/div>\n<\/div>\n<\/div>\n
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tighter spreads and cheaper prices<\/div>\n<\/div>\n<\/div>\n
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and as you succeed with that stage of<\/div>\n<\/div>\n<\/div>\n
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the mountain<\/div>\n<\/div>\n<\/div>\n
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then you trade stocks that are a little<\/div>\n<\/div>\n<\/div>\n
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bit more expensive and open yourself up<\/div>\n<\/div>\n<\/div>\n
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for the<\/div>\n<\/div>\n<\/div>\n
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possibility to trade stocks with a<\/div>\n<\/div>\n<\/div>\n
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little bit more of a spread and then<\/div>\n<\/div>\n<\/div>\n
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after you<\/div>\n<\/div>\n<\/div>\n
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conquer that you take the next step up<\/div>\n<\/div>\n<\/div>\n
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the mountain and i’ll just mention<\/div>\n<\/div>\n<\/div>\n
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in my experience as someone who’s new on<\/div>\n<\/div>\n<\/div>\n
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their<\/div>\n<\/div>\n<\/div>\n
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trading um journey that i’ve noticed it<\/div>\n<\/div>\n<\/div>\n
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is<\/div>\n<\/div>\n<\/div>\n
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harder or feels harder when you’re<\/div>\n<\/div>\n<\/div>\n
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starting out by the way swang’s chatting<\/div>\n<\/div>\n<\/div>\n
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me up about how he’s covering into this<\/div>\n<\/div>\n<\/div>\n
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jks<\/div>\n<\/div>\n<\/div>\n
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i don’t know where it can you guys see<\/div>\n<\/div>\n<\/div>\n
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that where’s jks right it’s not 74<\/div>\n<\/div>\n<\/div>\n
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now oh geez all right we are we should<\/div>\n<\/div>\n<\/div>\n
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wrap this up let me go<\/div>\n<\/div>\n<\/div>\n
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do my thing with that i need to go cover<\/div>\n<\/div>\n<\/div>\n
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all right a little bit at least all<\/div>\n<\/div>\n<\/div>\n
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right thanks guys hey go ahead and click<\/div>\n<\/div>\n<\/div>\n
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our subscribe button so you don’t miss<\/div>\n<\/div>\n<\/div>\n
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take the time to add your feedback in<\/div>\n<\/div>\n<\/div>\n
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the comments section for what videos<\/div>\n<\/div>\n<\/div>\n
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video from all of us at smb train<\/div>\n<\/div>\n<\/div>\n
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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 spot the stocks you should stop trading. Two firm traders identify a stock they should stop trading in real-time. Most importantly, they explain why they should have stopped trading this stock. * no relevant positions<\/p>\n","protected":false},"author":290,"featured_media":50224,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-50223","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 Spot the Stocks You Should Stop Trading | 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-spot-the-stocks-you-should-stop-trading\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Spot the Stocks You Should Stop Trading | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In this video, learn how to spot the stocks you should stop trading. 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