{"id":50501,"date":"2021-02-08T10:09:23","date_gmt":"2021-02-08T15:09:23","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50501"},"modified":"2021-02-08T10:10:18","modified_gmt":"2021-02-08T15:10:18","slug":"prop-trader-crushes-the-gamestop-trading-opportunity","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/prop-trader-crushes-the-gamestop-trading-opportunity","title":{"rendered":"Prop Trader Crushes the GameStop Trading Opportunity"},"content":{"rendered":"

In this video see how a prop trader crushed the GameStop trading opportunity. See a firm prop trader and me recap a personal best trade during the historic GameStop trading opportunity. 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 see how a prop trader<\/div>\n<\/div>\n<\/div>\n
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crushed<\/div>\n<\/div>\n<\/div>\n
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the gamestop trading opportunity hi i’m<\/div>\n<\/div>\n<\/div>\n
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mike bellafiore co-founder of SMB<\/div>\n<\/div>\n<\/div>\n
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capital<\/div>\n<\/div>\n<\/div>\n
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and we’re a proprietary trading firm<\/div>\n<\/div>\n<\/div>\n
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located in midtown manhattan<\/div>\n<\/div>\n<\/div>\n
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and i’m also the author of the trading<\/div>\n<\/div>\n<\/div>\n
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classic one good trade and the playbook<\/div>\n<\/div>\n<\/div>\n
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in this video see a firm prop trader and<\/div>\n<\/div>\n<\/div>\n
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me<\/div>\n<\/div>\n<\/div>\n
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recap a personal best trade during<\/div>\n<\/div>\n<\/div>\n
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the historic game stock trading<\/div>\n<\/div>\n<\/div>\n
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opportunity let’s get to work<\/div>\n<\/div>\n<\/div>\n
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on sharing these important trading<\/div>\n<\/div>\n<\/div>\n
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lessons so you can grow your trading<\/div>\n<\/div>\n<\/div>\n
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account<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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so today i’m going to be going over a<\/div>\n<\/div>\n<\/div>\n
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trade i took last week in bed bath and<\/div>\n<\/div>\n<\/div>\n
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beyond<\/div>\n<\/div>\n<\/div>\n
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it was a bit of a sector sympathy trade<\/div>\n<\/div>\n<\/div>\n
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to catch the backside and all of these<\/div>\n<\/div>\n<\/div>\n
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short squeezed names that we saw<\/div>\n<\/div>\n<\/div>\n
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so trade strategy nothing too crazy i’m<\/div>\n<\/div>\n<\/div>\n
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identifying an overextended sector on<\/div>\n<\/div>\n<\/div>\n
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the higher time frame charts<\/div>\n<\/div>\n<\/div>\n
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and obviously with that the more<\/div>\n<\/div>\n<\/div>\n
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overextended it is the<\/div>\n<\/div>\n<\/div>\n
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more successful the trade’s going to be<\/div>\n<\/div>\n<\/div>\n
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because that’s farther to fall<\/div>\n<\/div>\n<\/div>\n
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and as the weakest names in the sector<\/div>\n<\/div>\n<\/div>\n
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begin breaking down<\/div>\n<\/div>\n<\/div>\n
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at that point i’m looking to see okay is<\/div>\n<\/div>\n<\/div>\n
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the parabolic move<\/div>\n<\/div>\n<\/div>\n
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over maybe we’re about to see the<\/div>\n<\/div>\n<\/div>\n
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backside in these names and if so i’m<\/div>\n<\/div>\n<\/div>\n
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scanning through the remaining<\/div>\n<\/div>\n<\/div>\n
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candidates and seeing which one of these<\/div>\n<\/div>\n<\/div>\n
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looks like it could really break down<\/div>\n<\/div>\n<\/div>\n
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so i’m building into this as an intraday<\/div>\n<\/div>\n<\/div>\n
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short<\/div>\n<\/div>\n<\/div>\n
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intraday swing short so i’m looking to<\/div>\n<\/div>\n<\/div>\n
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higher time frame technical levels as<\/div>\n<\/div>\n<\/div>\n
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areas for profit taking<\/div>\n<\/div>\n<\/div>\n
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and i just included this part that if<\/div>\n<\/div>\n<\/div>\n
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the charts really overextended<\/div>\n<\/div>\n<\/div>\n
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which these names like gme bed bath amc<\/div>\n<\/div>\n<\/div>\n
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all these names were very overextended<\/div>\n<\/div>\n<\/div>\n
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they should have a really significant<\/div>\n<\/div>\n<\/div>\n
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way to fall so i don’t want to get<\/div>\n<\/div>\n<\/div>\n
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caught in a scalper’s mentality i really<\/div>\n<\/div>\n<\/div>\n
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want to<\/div>\n<\/div>\n<\/div>\n
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get myself into a good position and sit<\/div>\n<\/div>\n<\/div>\n
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on my hands a little bit and allow the<\/div>\n<\/div>\n<\/div>\n
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trade to work for me<\/div>\n<\/div>\n<\/div>\n
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so catalyst i think pretty much everyone<\/div>\n<\/div>\n<\/div>\n
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knows what’s been going on with this but<\/div>\n<\/div>\n<\/div>\n
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just a brief overview<\/div>\n<\/div>\n<\/div>\n
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in the past couple weeks gamestop has<\/div>\n<\/div>\n<\/div>\n
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pumped from around twenty dollars up to<\/div>\n<\/div>\n<\/div>\n
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a high of five thirteen and this was<\/div>\n<\/div>\n<\/div>\n
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largely driven by a coalition of traders<\/div>\n<\/div>\n<\/div>\n
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and investors on our slash wall street<\/div>\n<\/div>\n<\/div>\n
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bets<\/div>\n<\/div>\n<\/div>\n
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who essentially began buying calls in<\/div>\n<\/div>\n<\/div>\n
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stock in gme really aggressively<\/div>\n<\/div>\n<\/div>\n
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upon seeing that the short interest was<\/div>\n<\/div>\n<\/div>\n
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well over 100 percent<\/div>\n<\/div>\n<\/div>\n
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and institutional players and hedge<\/div>\n<\/div>\n<\/div>\n
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funds like melvin capital were<\/div>\n<\/div>\n<\/div>\n
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very aggressively short game<\/div>\n<\/div>\n<\/div>\n
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never heard of it really should check it<\/div>\n<\/div>\n<\/div>\n
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out<\/div>\n<\/div>\n<\/div>\n
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um but so this move peaked out in<\/div>\n<\/div>\n<\/div>\n
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pre-market on thursday<\/div>\n<\/div>\n<\/div>\n
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january 28th as it was announced robin<\/div>\n<\/div>\n<\/div>\n
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hood and several other<\/div>\n<\/div>\n<\/div>\n
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retail brokerages were putting<\/div>\n<\/div>\n<\/div>\n
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restrictions on the trading of several<\/div>\n<\/div>\n<\/div>\n
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of these names so all the big ones<\/div>\n<\/div>\n<\/div>\n
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gamestop<\/div>\n<\/div>\n<\/div>\n
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amc blackberry nokia all of them so<\/div>\n<\/div>\n<\/div>\n
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users of these platforms essentially<\/div>\n<\/div>\n<\/div>\n
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we’re now only allowed to<\/div>\n<\/div>\n<\/div>\n
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sell their existing positions instead of<\/div>\n<\/div>\n<\/div>\n
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being allowed to<\/div>\n<\/div>\n<\/div>\n
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put on new positions along or build on<\/div>\n<\/div>\n<\/div>\n
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their old longs<\/div>\n<\/div>\n<\/div>\n
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so this development heading into the<\/div>\n<\/div>\n<\/div>\n
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open it just<\/div>\n<\/div>\n<\/div>\n
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significantly impacts the outlook in the<\/div>\n<\/div>\n<\/div>\n
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approach for the day<\/div>\n<\/div>\n<\/div>\n
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this short squeeze wouldn’t have been so<\/div>\n<\/div>\n<\/div>\n
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extreme and have gotten so far if there<\/div>\n<\/div>\n<\/div>\n
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wasn’t new money continually stepping in<\/div>\n<\/div>\n<\/div>\n
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into all these names in the sector and<\/div>\n<\/div>\n<\/div>\n
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adding fuel to the fire<\/div>\n<\/div>\n<\/div>\n
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so also after being blindsided by this<\/div>\n<\/div>\n<\/div>\n
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announcement<\/div>\n<\/div>\n<\/div>\n
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the people the retail investors that do<\/div>\n<\/div>\n<\/div>\n
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own positions in these stocks<\/div>\n<\/div>\n<\/div>\n
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are likely going to be selling their<\/div>\n<\/div>\n<\/div>\n
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existing positions in fear of getting<\/div>\n<\/div>\n<\/div>\n
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stuck hold in the bag<\/div>\n<\/div>\n<\/div>\n
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essentially which makes sense<\/div>\n<\/div>\n<\/div>\n
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unfortunately for them from like a game<\/div>\n<\/div>\n<\/div>\n
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theory perspective it just makes sense<\/div>\n<\/div>\n<\/div>\n
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to sell your position if an announcement<\/div>\n<\/div>\n<\/div>\n
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like this comes<\/div>\n<\/div>\n<\/div>\n
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out so when these factors come together<\/div>\n<\/div>\n<\/div>\n
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it makes it really likely that gamestop<\/div>\n<\/div>\n<\/div>\n
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and all the symphony sympathy names are<\/div>\n<\/div>\n<\/div>\n
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likely to drop<\/div>\n<\/div>\n<\/div>\n
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out throughout the day yeah i mean look<\/div>\n<\/div>\n<\/div>\n
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this is one of the craziest moves i’ve<\/div>\n<\/div>\n<\/div>\n
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seen<\/div>\n<\/div>\n<\/div>\n
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in since i’ve been doing this since the<\/div>\n<\/div>\n<\/div>\n
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late 90s<\/div>\n<\/div>\n<\/div>\n
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it would be hard for you not to know<\/div>\n<\/div>\n<\/div>\n
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gamestop was a stock to be trading<\/div>\n<\/div>\n<\/div>\n
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we were all trading game stock amc bb<\/div>\n<\/div>\n<\/div>\n
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the others<\/div>\n<\/div>\n<\/div>\n
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nokia bby<\/div>\n<\/div>\n<\/div>\n
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uh this is a trading tip if you’re<\/div>\n<\/div>\n<\/div>\n
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watching the local news<\/div>\n<\/div>\n<\/div>\n
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and they’re talking about trading in a<\/div>\n<\/div>\n<\/div>\n
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particular name<\/div>\n<\/div>\n<\/div>\n
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and you were trading it that’s a stock<\/div>\n<\/div>\n<\/div>\n
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that’s in play<\/div>\n<\/div>\n<\/div>\n
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so it certainly captured<\/div>\n<\/div>\n<\/div>\n
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the attention of<\/div>\n<\/div>\n<\/div>\n
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the the mass media pop culture<\/div>\n<\/div>\n<\/div>\n
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all over twitter this is<\/div>\n<\/div>\n<\/div>\n
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i don’t know when we’ll see something<\/div>\n<\/div>\n<\/div>\n
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like this again<\/div>\n<\/div>\n<\/div>\n
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actually i think one of the guys on the<\/div>\n<\/div>\n<\/div>\n
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desk james was<\/div>\n<\/div>\n<\/div>\n
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was saying these are some of the things<\/div>\n<\/div>\n<\/div>\n
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that happen<\/div>\n<\/div>\n<\/div>\n
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before big moves and markets are around<\/div>\n<\/div>\n<\/div>\n
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the corner<\/div>\n<\/div>\n<\/div>\n
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you see these anomalies like this i mean<\/div>\n<\/div>\n<\/div>\n
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you know obviously we’ve seen stocks go<\/div>\n<\/div>\n<\/div>\n
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up<\/div>\n<\/div>\n<\/div>\n
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but i don’t think we’ve seen a lot of<\/div>\n<\/div>\n<\/div>\n
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stocks go from the teens<\/div>\n<\/div>\n<\/div>\n
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to 400 and what to go through 400 and<\/div>\n<\/div>\n<\/div>\n
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513 yep that’s a big move<\/div>\n<\/div>\n<\/div>\n
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yeah i think it was on tuesday of last<\/div>\n<\/div>\n<\/div>\n
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week<\/div>\n<\/div>\n<\/div>\n
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gamestop traded more money than any<\/div>\n<\/div>\n<\/div>\n
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other stock in the market more than<\/div>\n<\/div>\n<\/div>\n
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tesla apple spy<\/div>\n<\/div>\n<\/div>\n
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it’s unbelievable yeah it was it was<\/div>\n<\/div>\n<\/div>\n
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phenomenal so it’s fun i mean look i<\/div>\n<\/div>\n<\/div>\n
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to me i’ve been saying this is our<\/div>\n<\/div>\n<\/div>\n
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trading olympics<\/div>\n<\/div>\n<\/div>\n
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and and when you’re trading when you’re<\/div>\n<\/div>\n<\/div>\n
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in your trading olympics<\/div>\n<\/div>\n<\/div>\n
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forget about the money you’re going to<\/div>\n<\/div>\n<\/div>\n
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make way more than you have in the past<\/div>\n<\/div>\n<\/div>\n
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trade well enjoy it you know enjoy it i<\/div>\n<\/div>\n<\/div>\n
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mean we’re going to go over this trade<\/div>\n<\/div>\n<\/div>\n
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but<\/div>\n<\/div>\n<\/div>\n
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we’re gonna be talking about game stock<\/div>\n<\/div>\n<\/div>\n
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game stop and uh this trading<\/div>\n<\/div>\n<\/div>\n
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opportunity<\/div>\n<\/div>\n<\/div>\n
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20 years from now i mean it will be that<\/div>\n<\/div>\n<\/div>\n
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it will be that memorable<\/div>\n<\/div>\n<\/div>\n
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and you experienced it<\/div>\n<\/div>\n<\/div>\n
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you learned you learned from it uh you<\/div>\n<\/div>\n<\/div>\n
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felt it<\/div>\n<\/div>\n<\/div>\n
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and uh the next like<\/div>\n<\/div>\n<\/div>\n
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scenario like this you’ll trade pretty<\/div>\n<\/div>\n<\/div>\n
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well but i just the overall thing is<\/div>\n<\/div>\n<\/div>\n
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you know we sit here as traders and i<\/div>\n<\/div>\n<\/div>\n
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just think we forget to<\/div>\n<\/div>\n<\/div>\n
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to really appreciate the unbelievable<\/div>\n<\/div>\n<\/div>\n
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opportunistic moments that we get to<\/div>\n<\/div>\n<\/div>\n
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live through i mean everybody is tr is<\/div>\n<\/div>\n<\/div>\n
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talking about<\/div>\n<\/div>\n<\/div>\n
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gamestop well that’s what we do for a<\/div>\n<\/div>\n<\/div>\n
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living they’re all talking about what we<\/div>\n<\/div>\n<\/div>\n
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actually do for a living<\/div>\n<\/div>\n<\/div>\n
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and we’re we’re all the markets are not<\/div>\n<\/div>\n<\/div>\n
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going to be like this<\/div>\n<\/div>\n<\/div>\n
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all the months are not going to be like<\/div>\n<\/div>\n<\/div>\n
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january<\/div>\n<\/div>\n<\/div>\n
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and you it was a historic market moment<\/div>\n<\/div>\n<\/div>\n
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and you got to live through it and trade<\/div>\n<\/div>\n<\/div>\n
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through it and and trade it well<\/div>\n<\/div>\n<\/div>\n
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so let’s remember that while we’re going<\/div>\n<\/div>\n<\/div>\n
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through this<\/div>\n<\/div>\n<\/div>\n
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uh this is this is a fun time to be<\/div>\n<\/div>\n<\/div>\n
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doing what we’re doing<\/div>\n<\/div>\n<\/div>\n
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and uh i mean<\/div>\n<\/div>\n<\/div>\n
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i’m having fun i don’t know about you<\/div>\n<\/div>\n<\/div>\n
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guys but and i’ve been doing and i’ve<\/div>\n<\/div>\n<\/div>\n
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been doing this for a while so<\/div>\n<\/div>\n<\/div>\n
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this is this is as fun as it gets<\/div>\n<\/div>\n<\/div>\n
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yeah these were a blast to trade<\/div>\n<\/div>\n<\/div>\n
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especially last week and super<\/div>\n<\/div>\n<\/div>\n
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educational<\/div>\n<\/div>\n<\/div>\n
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if you want to learn three more real<\/div>\n<\/div>\n<\/div>\n
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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<\/div>\n<\/div>\n<\/div>\n
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figure big money earner check out the<\/div>\n<\/div>\n<\/div>\n
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free webinar that we’re currently<\/div>\n<\/div>\n<\/div>\n
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running<\/div>\n<\/div>\n<\/div>\n
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just go ahead and click the link that<\/div>\n<\/div>\n<\/div>\n
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should be appearing now<\/div>\n<\/div>\n<\/div>\n
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at the top right hand corner of your<\/div>\n<\/div>\n<\/div>\n
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screen that will open up the free<\/div>\n<\/div>\n<\/div>\n
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registration page in a new window so<\/div>\n<\/div>\n<\/div>\n
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don’t worry<\/div>\n<\/div>\n<\/div>\n
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you won’t lose this video you can also<\/div>\n<\/div>\n<\/div>\n
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visit<\/div>\n<\/div>\n<\/div>\n
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tradingworkshop.com to register for this<\/div>\n<\/div>\n<\/div>\n
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free intensive workshop<\/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<\/div>\n<\/div>\n<\/div>\n
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so for instance fundamentals everything<\/div>\n<\/div>\n<\/div>\n
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you might expect these are the<\/div>\n<\/div>\n<\/div>\n
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fundamentals of bed bath and beyond<\/div>\n<\/div>\n<\/div>\n
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our ball over four variant play and<\/div>\n<\/div>\n<\/div>\n
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short float of<\/div>\n<\/div>\n<\/div>\n
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65.72 so that’s not the<\/div>\n<\/div>\n<\/div>\n
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insanity that we saw in gamestop but<\/div>\n<\/div>\n<\/div>\n
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that’s still a very significant short<\/div>\n<\/div>\n<\/div>\n
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float<\/div>\n<\/div>\n<\/div>\n
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so it can definitely get moving to the<\/div>\n<\/div>\n<\/div>\n
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upside as it did<\/div>\n<\/div>\n<\/div>\n
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i’m curious graham do you feel like your<\/div>\n<\/div>\n<\/div>\n
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learning curve is really speeding up as<\/div>\n<\/div>\n<\/div>\n
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you’re going through opportunities like<\/div>\n<\/div>\n<\/div>\n
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this<\/div>\n<\/div>\n<\/div>\n
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can you sense that can you feel it you<\/div>\n<\/div>\n<\/div>\n
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know from week to week are you like wow<\/div>\n<\/div>\n<\/div>\n
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i really<\/div>\n<\/div>\n<\/div>\n
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progressed here yeah absolutely because<\/div>\n<\/div>\n<\/div>\n
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you’re just<\/div>\n<\/div>\n<\/div>\n
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there’s so many more trading<\/div>\n<\/div>\n<\/div>\n
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opportunities per week and per day<\/div>\n<\/div>\n<\/div>\n
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and the more practice swings you get at<\/div>\n<\/div>\n<\/div>\n
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these<\/div>\n<\/div>\n<\/div>\n
\n
\n
just the better you’re getting so just<\/div>\n<\/div>\n<\/div>\n
\n
\n
by force due to the fact that there’s so<\/div>\n<\/div>\n<\/div>\n
\n
\n
many opportunities every day in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
market the opportunity says just forcing<\/div>\n<\/div>\n<\/div>\n
\n
\n
you to get better so much quicker<\/div>\n<\/div>\n<\/div>\n
\n
\n
so it’s pretty lucky pretty lucky to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this position right now<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah i saw that too when we were<\/div>\n<\/div>\n<\/div>\n
\n
\n
training guys in 2007 and 2008<\/div>\n<\/div>\n<\/div>\n
\n
\n
their learning curves really sped up<\/div>\n<\/div>\n<\/div>\n
\n
\n
because the volatility was higher and<\/div>\n<\/div>\n<\/div>\n
\n
\n
they got so many more reps trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re get you’re getting that as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s very fortunate to start trading at<\/div>\n<\/div>\n<\/div>\n
\n
\n
this time because you’re getting as you<\/div>\n<\/div>\n<\/div>\n
\n
\n
said you’re getting the amount of trades<\/div>\n<\/div>\n<\/div>\n
\n
\n
in a day in a week that<\/div>\n<\/div>\n<\/div>\n
\n
\n
a typical market you might get in a<\/div>\n<\/div>\n<\/div>\n
\n
\n
month so<\/div>\n<\/div>\n<\/div>\n
\n
\n
i mean this is pretty evident of that<\/div>\n<\/div>\n<\/div>\n
\n
\n
where um<\/div>\n<\/div>\n<\/div>\n
\n
\n
really since march bed bath and beyond<\/div>\n<\/div>\n<\/div>\n
\n
\n
is almost done at 20x<\/div>\n<\/div>\n<\/div>\n
\n
\n
but it really started getting vertical<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the beginning of january<\/div>\n<\/div>\n<\/div>\n
\n
\n
about the same time that gamestop did<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i would say that’s not<\/div>\n<\/div>\n<\/div>\n
\n
\n
a coincidence at all<\/div>\n<\/div>\n<\/div>\n
\n
\n
so again this is an intraday swing so<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m looking more to the higher time<\/div>\n<\/div>\n<\/div>\n
\n
\n
frame charts for my profit targets<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so when i’m looking at the hourly<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m looking at this<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe 39 ish level here has some initial<\/div>\n<\/div>\n<\/div>\n
\n
\n
profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then this 36s region and then kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of the the home<\/div>\n<\/div>\n<\/div>\n
\n
\n
the home run region would be this 30 to<\/div>\n<\/div>\n<\/div>\n
\n
\n
32 area where if we get all the way down<\/div>\n<\/div>\n<\/div>\n
\n
\n
there that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
really an immaculate trade so that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of my final destination for my<\/div>\n<\/div>\n<\/div>\n
\n
\n
shares<\/div>\n<\/div>\n<\/div>\n
\n
\n
so pre-market you see this chart and<\/div>\n<\/div>\n<\/div>\n
\n
\n
gamestop and all the others looked<\/div>\n<\/div>\n<\/div>\n
\n
\n
pretty similar we got this move all the<\/div>\n<\/div>\n<\/div>\n
\n
\n
way up to 58<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then it was announced that robin<\/div>\n<\/div>\n<\/div>\n
\n
\n
hood would be restricting trading and<\/div>\n<\/div>\n<\/div>\n
\n
\n
then the other brokerages came out and<\/div>\n<\/div>\n<\/div>\n
\n
\n
said they were going to do the same<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so we got a pretty dramatic reaction<\/div>\n<\/div>\n<\/div>\n
\n
\n
to that all the way from 58 to 43 within<\/div>\n<\/div>\n<\/div>\n
\n
\n
like 30 minutes<\/div>\n<\/div>\n<\/div>\n
\n
\n
so coming into the open i don’t think<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re going to re visit these prices but<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m looking at this 48 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
and this 43 level as well as the lower<\/div>\n<\/div>\n<\/div>\n
\n
\n
down pre-market supports<\/div>\n<\/div>\n<\/div>\n
\n
\n
can you just walk through why that was<\/div>\n<\/div>\n<\/div>\n
\n
\n
significant that robin hood was<\/div>\n<\/div>\n<\/div>\n
\n
\n
restricting trading and<\/div>\n<\/div>\n<\/div>\n
\n
\n
give us a little background on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
importance of<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh robin hood positions robin hood’s a<\/div>\n<\/div>\n<\/div>\n
\n
\n
is a broker<\/div>\n<\/div>\n<\/div>\n
\n
\n
that is a trading platform that a lot of<\/div>\n<\/div>\n<\/div>\n
\n
\n
us traders use<\/div>\n<\/div>\n<\/div>\n
\n
\n
right especially a lot of retail traders<\/div>\n<\/div>\n<\/div>\n
\n
\n
and a lot of the guys on wall street<\/div>\n<\/div>\n<\/div>\n
\n
\n
bets<\/div>\n<\/div>\n<\/div>\n
\n
\n
are a lot of them are going to be using<\/div>\n<\/div>\n<\/div>\n
\n
\n
robin hood<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so when they restrict the trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
that does two things<\/div>\n<\/div>\n<\/div>\n
\n
\n
first of all all those wall street bets<\/div>\n<\/div>\n<\/div>\n
\n
\n
players<\/div>\n<\/div>\n<\/div>\n
\n
\n
that were almost certainly stepping in<\/div>\n<\/div>\n<\/div>\n
\n
\n
throughout this<\/div>\n<\/div>\n<\/div>\n
\n
\n
and were looking to buy up even more<\/div>\n<\/div>\n<\/div>\n
\n
\n
into the open<\/div>\n<\/div>\n<\/div>\n
\n
\n
they no longer have the opportunity to<\/div>\n<\/div>\n<\/div>\n
\n
\n
do that so that source of buying<\/div>\n<\/div>\n<\/div>\n
\n
\n
is gone from all of these names no more<\/div>\n<\/div>\n<\/div>\n
\n
\n
new money coming into these names as<\/div>\n<\/div>\n<\/div>\n
\n
\n
well as the fact that i discussed<\/div>\n<\/div>\n<\/div>\n
\n
\n
earlier which is<\/div>\n<\/div>\n<\/div>\n
\n
\n
they did allow for people that had<\/div>\n<\/div>\n<\/div>\n
\n
\n
existing positions to sell what they had<\/div>\n<\/div>\n<\/div>\n
\n
\n
so not only are the robinhood traders<\/div>\n<\/div>\n<\/div>\n
\n
\n
not<\/div>\n<\/div>\n<\/div>\n
\n
\n
long biased anymore if anything they’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
quite cell biased<\/div>\n<\/div>\n<\/div>\n
\n
\n
so it just adds a lot of sellers to the<\/div>\n<\/div>\n<\/div>\n
\n
\n
market and takes out a lot of the buyers<\/div>\n<\/div>\n<\/div>\n
\n
\n
and<\/div>\n<\/div>\n<\/div>\n
\n
\n
where we initially had a huge uh demand<\/div>\n<\/div>\n<\/div>\n
\n
\n
and balance over supply<\/div>\n<\/div>\n<\/div>\n
\n
\n
this pretty quickly shifts us to having<\/div>\n<\/div>\n<\/div>\n
\n
\n
a huge supply<\/div>\n<\/div>\n<\/div>\n
\n
\n
imbalance over demand and so pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
evident immediately as that news comes<\/div>\n<\/div>\n<\/div>\n
\n
\n
out<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then off the open this 48 level does<\/div>\n<\/div>\n<\/div>\n
\n
\n
establish as an important level<\/div>\n<\/div>\n<\/div>\n
\n
\n
as well as these pre-market support<\/div>\n<\/div>\n<\/div>\n
\n
\n
levels<\/div>\n<\/div>\n<\/div>\n
\n
\n
so hopefully this doesn’t get too<\/div>\n<\/div>\n<\/div>\n
\n
\n
esoteric but i feel like this is a very<\/div>\n<\/div>\n<\/div>\n
\n
\n
important part<\/div>\n<\/div>\n<\/div>\n
\n
\n
of this trade is this is essentially a<\/div>\n<\/div>\n<\/div>\n
\n
\n
sector<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s a sector trade and there’s going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
be a lot of correlation behind these<\/div>\n<\/div>\n<\/div>\n
\n
\n
moves<\/div>\n<\/div>\n<\/div>\n
\n
\n
so throughout the day these are the four<\/div>\n<\/div>\n<\/div>\n
\n
\n
names i was looking at bb<\/div>\n<\/div>\n<\/div>\n
\n
\n
amc bbby and gme and i’m watching each<\/div>\n<\/div>\n<\/div>\n
\n
\n
of the names in these sectors and seeing<\/div>\n<\/div>\n<\/div>\n
\n
\n
if one of these is going to lead the<\/div>\n<\/div>\n<\/div>\n
\n
\n
other<\/div>\n<\/div>\n<\/div>\n
\n
\n
so as i said in the trade strategy slide<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking for the weakest names in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
sector and seeing if any of them are<\/div>\n<\/div>\n<\/div>\n
\n
\n
breaking down<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh and in this case i’ve drawn vertical<\/div>\n<\/div>\n<\/div>\n
\n
\n
lines on all of these charts<\/div>\n<\/div>\n<\/div>\n
\n
\n
at 10 30 just so you see what they’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
doing at the same time<\/div>\n<\/div>\n<\/div>\n
\n
\n
at 10 30 amc is clearly broken down<\/div>\n<\/div>\n<\/div>\n
\n
\n
through pre-market support<\/div>\n<\/div>\n<\/div>\n
\n
\n
and has started to go limit down it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
very weak structurally and seems like<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re going to see a lot of downside<\/div>\n<\/div>\n<\/div>\n
\n
\n
there<\/div>\n<\/div>\n<\/div>\n
\n
\n
at the same time bb hadn’t broken<\/div>\n<\/div>\n<\/div>\n
\n
\n
through pre-market lows yet but looks<\/div>\n<\/div>\n<\/div>\n
\n
\n
very weak it’s making these lower highs<\/div>\n<\/div>\n<\/div>\n
\n
\n
the volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
seems to be stepping up as we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
settling down into pre-market lows<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it seems like we’re gonna break down<\/div>\n<\/div>\n<\/div>\n
\n
\n
any second there and then finally<\/div>\n<\/div>\n<\/div>\n
\n
\n
in gme and bed bath these two were<\/div>\n<\/div>\n<\/div>\n
\n
\n
holding up that stronger than the other<\/div>\n<\/div>\n<\/div>\n
\n
\n
two<\/div>\n<\/div>\n<\/div>\n
\n
\n
but they do have the same move where we<\/div>\n<\/div>\n<\/div>\n
\n
\n
have this bounce in the morning<\/div>\n<\/div>\n<\/div>\n
\n
\n
but since then we’re making these lower<\/div>\n<\/div>\n<\/div>\n
\n
\n
highs and the volume is ramping up as<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re selling down<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so now that i’ve seen amc breaking<\/div>\n<\/div>\n<\/div>\n
\n
\n
down<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think all of us were kind of saying<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay maybe the backside really is in now<\/div>\n<\/div>\n<\/div>\n
\n
\n
and if so bed bath and jimmy are about<\/div>\n<\/div>\n<\/div>\n
\n
\n
to really really drop<\/div>\n<\/div>\n<\/div>\n
\n
\n
and this is different usually we talk<\/div>\n<\/div>\n<\/div>\n
\n
\n
about the head of the snake<\/div>\n<\/div>\n<\/div>\n
\n
\n
usually which in this case would be gma<\/div>\n<\/div>\n<\/div>\n
\n
\n
so usually we identify<\/div>\n<\/div>\n<\/div>\n
\n
\n
hey what is the key stock that’s driving<\/div>\n<\/div>\n<\/div>\n
\n
\n
price action for the sympathy names so<\/div>\n<\/div>\n<\/div>\n
\n
\n
gme is the head of the snake<\/div>\n<\/div>\n<\/div>\n
\n
\n
amc bb bbby<\/div>\n<\/div>\n<\/div>\n
\n
\n
those are the sympathy stocks those are<\/div>\n<\/div>\n<\/div>\n
\n
\n
going up<\/div>\n<\/div>\n<\/div>\n
\n
\n
mostly because gme is going up so<\/div>\n<\/div>\n<\/div>\n
\n
\n
normally<\/div>\n<\/div>\n<\/div>\n
\n
\n
you need gme to crack first<\/div>\n<\/div>\n<\/div>\n
\n
\n
before the sympathy names will crack<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this case you’re noticing a sympathy<\/div>\n<\/div>\n<\/div>\n
\n
\n
name selling off<\/div>\n<\/div>\n<\/div>\n
\n
\n
before the head of the stake gma is<\/div>\n<\/div>\n<\/div>\n
\n
\n
likely to<\/div>\n<\/div>\n<\/div>\n
\n
\n
break so this is and that’s that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
advanced observation<\/div>\n<\/div>\n<\/div>\n
\n
\n
that you’re doing right there not every<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade’s the same<\/div>\n<\/div>\n<\/div>\n
\n
\n
but it stands to reason that hey<\/div>\n<\/div>\n<\/div>\n
\n
\n
if i’m starting to see something<\/div>\n<\/div>\n<\/div>\n
\n
\n
different in some of these sympathy<\/div>\n<\/div>\n<\/div>\n
\n
\n
names<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe that’s a a prelude to what we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna see<\/div>\n<\/div>\n<\/div>\n
\n
\n
in in the head of the snake in gma mbby<\/div>\n<\/div>\n<\/div>\n
\n
\n
so good right and i guess it’s worth<\/div>\n<\/div>\n<\/div>\n
\n
\n
noting that<\/div>\n<\/div>\n<\/div>\n
\n
\n
amc i would say is pretty was pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
solidified as the number two stock that<\/div>\n<\/div>\n<\/div>\n
\n
\n
wall street bets was interested in<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’d say it was gamestop clearly as the<\/div>\n<\/div>\n<\/div>\n
\n
\n
head of the snake but amc was doing a<\/div>\n<\/div>\n<\/div>\n
\n
\n
lot of volume and had a lot of investors<\/div>\n<\/div>\n<\/div>\n
\n
\n
behind it<\/div>\n<\/div>\n<\/div>\n
\n
\n
um it would be different if this would<\/div>\n<\/div>\n<\/div>\n
\n
\n
if this were like nakd<\/div>\n<\/div>\n<\/div>\n
\n
\n
dropping off i would put less weight<\/div>\n<\/div>\n<\/div>\n
\n
\n
into it but amc was<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting a lot of the spotlight<\/div>\n<\/div>\n<\/div>\n
\n
\n
throughout this move then just for a<\/div>\n<\/div>\n<\/div>\n
\n
\n
side-by-side of<\/div>\n<\/div>\n<\/div>\n
\n
\n
gamestop and bed bath i’ll go into more<\/div>\n<\/div>\n<\/div>\n
\n
\n
of this<\/div>\n<\/div>\n<\/div>\n
\n
\n
later but the purple arrow taken out the<\/div>\n<\/div>\n<\/div>\n
\n
\n
same time period and the black arrow<\/div>\n<\/div>\n<\/div>\n
\n
\n
these are the same time periods as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
so purple arrow is around 10 35<\/div>\n<\/div>\n<\/div>\n
\n
\n
and this is where i was getting into bed<\/div>\n<\/div>\n<\/div>\n
\n
\n
bath and beyond we see that<\/div>\n<\/div>\n<\/div>\n
\n
\n
again it hasn’t broken down quite yet<\/div>\n<\/div>\n<\/div>\n
\n
\n
but<\/div>\n<\/div>\n<\/div>\n
\n
\n
gamestop looks very weak right now amc<\/div>\n<\/div>\n<\/div>\n
\n
\n
and bb they’re very weak already and<\/div>\n<\/div>\n<\/div>\n
\n
\n
through pre-market lows<\/div>\n<\/div>\n<\/div>\n
\n
\n
and also just this technical setup with<\/div>\n<\/div>\n<\/div>\n
\n
\n
these lower highs<\/div>\n<\/div>\n<\/div>\n
\n
\n
and once we get below this 370 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s pretty evident even without looking<\/div>\n<\/div>\n<\/div>\n
\n
\n
at this whole mess right here<\/div>\n<\/div>\n<\/div>\n
\n
\n
that if we get below 370 there’s a big<\/div>\n<\/div>\n<\/div>\n
\n
\n
pocket of air for us to drop down<\/div>\n<\/div>\n<\/div>\n
\n
\n
even just to reach pre-market lows so<\/div>\n<\/div>\n<\/div>\n
\n
\n
this could really break down<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then the same deal in bed bath and<\/div>\n<\/div>\n<\/div>\n
\n
\n
beyond so that is where<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is the region where i’m starting to<\/div>\n<\/div>\n<\/div>\n
\n
\n
build into my position<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and then throughout the trade with<\/div>\n<\/div>\n<\/div>\n
\n
\n
bed bath<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m watching gamestop and gamestop gets<\/div>\n<\/div>\n<\/div>\n
\n
\n
very very vertical to the downside<\/div>\n<\/div>\n<\/div>\n
\n
\n
where we see it drop down from 380 to 11<\/div>\n<\/div>\n<\/div>\n
\n
\n
12 or to 112 within like an<\/div>\n<\/div>\n<\/div>\n
\n
\n
hour which is unbelievable and went down<\/div>\n<\/div>\n<\/div>\n
\n
\n
whim it down several times in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
process and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
my thought process as we’re getting<\/div>\n<\/div>\n<\/div>\n
\n
\n
below like 160 and this is getting<\/div>\n<\/div>\n<\/div>\n
\n
\n
absurdly steep is<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay we’ve been selling off a lot and at<\/div>\n<\/div>\n<\/div>\n
\n
\n
some point<\/div>\n<\/div>\n<\/div>\n
\n
\n
one of these unhauled is going to result<\/div>\n<\/div>\n<\/div>\n
\n
\n
in a limit up and we’re going gonna get<\/div>\n<\/div>\n<\/div>\n
\n
\n
a bounce and that bounce could be pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
significant we’ve fallen like 75 percent<\/div>\n<\/div>\n<\/div>\n
\n
\n
in two hours<\/div>\n<\/div>\n<\/div>\n
\n
\n
so once i see that happen right here and<\/div>\n<\/div>\n<\/div>\n
\n
\n
gamestop finally goes limit up for once<\/div>\n<\/div>\n<\/div>\n
\n
\n
and starts bouncing<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s when i close the the last of my<\/div>\n<\/div>\n<\/div>\n
\n
\n
shares in bed bath<\/div>\n<\/div>\n<\/div>\n
\n
\n
but i’ll break it down a little bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
exact executions so like i said<\/div>\n<\/div>\n<\/div>\n
\n
\n
amc and bb were breaking down so i put<\/div>\n<\/div>\n<\/div>\n
\n
\n
on my initial shares here and then as<\/div>\n<\/div>\n<\/div>\n
\n
\n
gamestop<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh and bed bath begin really breaking<\/div>\n<\/div>\n<\/div>\n
\n
\n
down i view this<\/div>\n<\/div>\n<\/div>\n
\n
\n
sell-off with some volume behind it as<\/div>\n<\/div>\n<\/div>\n
\n
\n
confirmation that this probably is going<\/div>\n<\/div>\n<\/div>\n
\n
\n
to work<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i add more shares on and then<\/div>\n<\/div>\n<\/div>\n
\n
\n
again i’m thinking about my higher time<\/div>\n<\/div>\n<\/div>\n
\n
\n
frame technical levels that i’m looking<\/div>\n<\/div>\n<\/div>\n
\n
\n
to take profits at<\/div>\n<\/div>\n<\/div>\n
\n
\n
this 39-ish area is one of those levels<\/div>\n<\/div>\n<\/div>\n
\n
\n
so we come into it i cover a little bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh emphasis on little it’s like maybe 15<\/div>\n<\/div>\n<\/div>\n
\n
\n
of my position i’m curious so<\/div>\n<\/div>\n<\/div>\n
\n
\n
you make this killer swing trade right<\/div>\n<\/div>\n<\/div>\n
\n
\n
here<\/div>\n<\/div>\n<\/div>\n
\n
\n
not easy to stay in the position uh what<\/div>\n<\/div>\n<\/div>\n
\n
\n
what’s what’s helping you to do that<\/div>\n<\/div>\n<\/div>\n
\n
\n
do you feel like you did that<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think a lot of uh developing traders<\/div>\n<\/div>\n<\/div>\n
\n
\n
struggle with staying in a position uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
what<\/div>\n<\/div>\n<\/div>\n
\n
\n
how are you how do we handle that in<\/div>\n<\/div>\n<\/div>\n
\n
\n
real time what were you thinking<\/div>\n<\/div>\n<\/div>\n
\n
\n
um so i’d say the biggest thing by far<\/div>\n<\/div>\n<\/div>\n
\n
\n
is<\/div>\n<\/div>\n<\/div>\n
\n
\n
you me and trey were all on call at the<\/div>\n<\/div>\n<\/div>\n
\n
\n
same time we were all basically in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
same trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh and you were kind of just telling me<\/div>\n<\/div>\n<\/div>\n
\n
\n
that look think about the bigger picture<\/div>\n<\/div>\n<\/div>\n
\n
\n
context of this<\/div>\n<\/div>\n<\/div>\n
\n
\n
this thing just went from i don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
remember what it was like 8 to 56<\/div>\n<\/div>\n<\/div>\n
\n
\n
or 58 within the course of a couple<\/div>\n<\/div>\n<\/div>\n
\n
\n
weeks and the back side is in this thing<\/div>\n<\/div>\n<\/div>\n
\n
\n
can easily be at<\/div>\n<\/div>\n<\/div>\n
\n
\n
28 by the end of the day so i’m really<\/div>\n<\/div>\n<\/div>\n
\n
\n
shooting myself in the foot and selling<\/div>\n<\/div>\n<\/div>\n
\n
\n
myself short<\/div>\n<\/div>\n<\/div>\n
\n
\n
by covering into like 39 thinking about<\/div>\n<\/div>\n<\/div>\n
\n
\n
the bigger picture context<\/div>\n<\/div>\n<\/div>\n
\n
\n
like it’s not often in the market where<\/div>\n<\/div>\n<\/div>\n
\n
\n
you have friends with no interest in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
market texting you and asking you<\/div>\n<\/div>\n<\/div>\n
\n
\n
questions about things<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that’s exactly what we’re seeing<\/div>\n<\/div>\n<\/div>\n
\n
\n
with these names it’s complete mania<\/div>\n<\/div>\n<\/div>\n
\n
\n
and when that pops there should be<\/div>\n<\/div>\n<\/div>\n
\n
\n
significant downside<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i was just really holding sitting on<\/div>\n<\/div>\n<\/div>\n
\n
\n
my hands and thinking<\/div>\n<\/div>\n<\/div>\n
\n
\n
at least 36 as a profit target for a<\/div>\n<\/div>\n<\/div>\n
\n
\n
bulk of shares<\/div>\n<\/div>\n<\/div>\n
\n
\n
um so it wasn’t easy but i just knew<\/div>\n<\/div>\n<\/div>\n
\n
\n
that this was a fantastic opportunity<\/div>\n<\/div>\n<\/div>\n
\n
\n
that isn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
they might not show up for another year<\/div>\n<\/div>\n<\/div>\n
\n
\n
or more so<\/div>\n<\/div>\n<\/div>\n
\n
\n
i didn’t want to sell myself short in<\/div>\n<\/div>\n<\/div>\n
\n
\n
what i knew to be a really good position<\/div>\n<\/div>\n<\/div>\n
\n
\n
look the the trade we talk about this a<\/div>\n<\/div>\n<\/div>\n
\n
\n
lot which is<\/div>\n<\/div>\n<\/div>\n
\n
\n
there are certain days we’re going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade move to move in these names<\/div>\n<\/div>\n<\/div>\n
\n
\n
like gm amc bby bb<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then there’s other days where the<\/div>\n<\/div>\n<\/div>\n
\n
\n
swing trade is more appropriate<\/div>\n<\/div>\n<\/div>\n
\n
\n
we we traded these names long<\/div>\n<\/div>\n<\/div>\n
\n
\n
trey actually did a video of how we<\/div>\n<\/div>\n<\/div>\n
\n
\n
traded bbb<\/div>\n<\/div>\n<\/div>\n
\n
\n
bbby bbb how many b’s three b’s y<\/div>\n<\/div>\n<\/div>\n
\n
\n
triple b y we can trade them we can’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
say them<\/div>\n<\/div>\n<\/div>\n
\n
\n
triple b y we traded that long to the<\/div>\n<\/div>\n<\/div>\n
\n
\n
upside during the gma mania<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and captured some some some nice<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade to the upside<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then this is an example of<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know one of those days where the<\/div>\n<\/div>\n<\/div>\n
\n
\n
backside is in based on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the way amc is reacting based on the way<\/div>\n<\/div>\n<\/div>\n
\n
\n
gme is trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so this isn’t a day for us to scalp<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is not a day<\/div>\n<\/div>\n<\/div>\n
\n
\n
for us to take profits too early this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
a day<\/div>\n<\/div>\n<\/div>\n
\n
\n
to go to our longer term charts<\/div>\n<\/div>\n<\/div>\n
\n
\n
and figure out what the real target is<\/div>\n<\/div>\n<\/div>\n
\n
\n
always good to take profits into target<\/div>\n<\/div>\n<\/div>\n
\n
\n
i remember<\/div>\n<\/div>\n<\/div>\n
\n
\n
saying to you when when we were short<\/div>\n<\/div>\n<\/div>\n
\n
\n
this thing<\/div>\n<\/div>\n<\/div>\n
\n
\n
and towards the very beginning<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know the 38 35 30 were<\/div>\n<\/div>\n<\/div>\n
\n
\n
to me the levels of of of some interest<\/div>\n<\/div>\n<\/div>\n
\n
\n
40 38 35 30 and those are the levels on<\/div>\n<\/div>\n<\/div>\n
\n
\n
the way up<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so you know okay to take some<\/div>\n<\/div>\n<\/div>\n
\n
\n
profits into<\/div>\n<\/div>\n<\/div>\n
\n
\n
each of those levels but you know the<\/div>\n<\/div>\n<\/div>\n
\n
\n
real move is<\/div>\n<\/div>\n<\/div>\n
\n
\n
is down towards 30. that’s the real<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade and when the backside is in<\/div>\n<\/div>\n<\/div>\n
\n
\n
and something that is is historically<\/div>\n<\/div>\n<\/div>\n
\n
\n
pumped<\/div>\n<\/div>\n<\/div>\n
\n
\n
is historically overbought<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and now they’re the catalyst for<\/div>\n<\/div>\n<\/div>\n
\n
\n
why it was overbought removed so you’ve<\/div>\n<\/div>\n<\/div>\n
\n
\n
got this news catalyst you couldn’t buy<\/div>\n<\/div>\n<\/div>\n
\n
\n
the shares like you could in the past<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s time for the real trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s it’s time to think about holding<\/div>\n<\/div>\n<\/div>\n
\n
\n
the core for the real trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and giving it away too early on a day<\/div>\n<\/div>\n<\/div>\n
\n
\n
like this in a trade like this<\/div>\n<\/div>\n<\/div>\n
\n
\n
is something we want to be very careful<\/div>\n<\/div>\n<\/div>\n
\n
\n
about<\/div>\n<\/div>\n<\/div>\n
\n
\n
so so good it’s a good that you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
shifting to that mind might be<\/div>\n<\/div>\n<\/div>\n
\n
\n
a quick quick cheat sheet if you don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
have trey or myself<\/div>\n<\/div>\n<\/div>\n
\n
\n
chirping ear on this good to write down<\/div>\n<\/div>\n<\/div>\n
\n
\n
on a piece of paper what the real target<\/div>\n<\/div>\n<\/div>\n
\n
\n
is<\/div>\n<\/div>\n<\/div>\n
\n
\n
and keep that in front of you<\/div>\n<\/div>\n<\/div>\n
\n
\n
and refer to it so that you don’t get<\/div>\n<\/div>\n<\/div>\n
\n
\n
out of a really good trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
too quickly and leave some money on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
table<\/div>\n<\/div>\n<\/div>\n
\n
\n
right and that’s why once i was in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
position i kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
set myself to essentially pyramiding out<\/div>\n<\/div>\n<\/div>\n
\n
\n
of this and by that i just mean<\/div>\n<\/div>\n<\/div>\n
\n
\n
very small covers at the higher profit<\/div>\n<\/div>\n<\/div>\n
\n
\n
targets and then the lower we get the<\/div>\n<\/div>\n<\/div>\n
\n
\n
bigger the covers end up getting<\/div>\n<\/div>\n<\/div>\n
\n
\n
until you know i still have more than<\/div>\n<\/div>\n<\/div>\n
\n
\n
half my position by the time we get down<\/div>\n<\/div>\n<\/div>\n
\n
\n
to 32.<\/div>\n<\/div>\n<\/div>\n
\n
\n
it does show the value of trading on a<\/div>\n<\/div>\n<\/div>\n
\n
\n
team trading together because<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think we were reminding each other<\/div>\n<\/div>\n<\/div>\n
\n
\n
what the real<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade was i watched a nonsensical video<\/div>\n<\/div>\n<\/div>\n
\n
\n
from the wolf of wall street last night<\/div>\n<\/div>\n<\/div>\n
\n
\n
about how<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh he was telling the gme longs<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think he came up with something we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
not leaving<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh did you see this on youtube i didn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
click on it<\/div>\n<\/div>\n<\/div>\n
\n
\n
so all these guys are way out of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
money in gma and he created this chant<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re not leaving<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh but the price action didn’t warrant<\/div>\n<\/div>\n<\/div>\n
\n
\n
that<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this case we were actually<\/div>\n<\/div>\n<\/div>\n
\n
\n
constructively helping each other<\/div>\n<\/div>\n<\/div>\n
\n
\n
essentially saying to ourselves hey<\/div>\n<\/div>\n<\/div>\n
\n
\n
let’s not cover this thing it’s it’s not<\/div>\n<\/div>\n<\/div>\n
\n
\n
a career it’s not a cover yet let’s hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
that let’s hold it it’s not the<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s not the cover yet um that was<\/div>\n<\/div>\n<\/div>\n
\n
\n
we were constructively doing that as<\/div>\n<\/div>\n<\/div>\n
\n
\n
opposed to<\/div>\n<\/div>\n<\/div>\n
\n
\n
what the welfare wall street was doing<\/div>\n<\/div>\n<\/div>\n
\n
\n
so that can be helpful too all right<\/div>\n<\/div>\n<\/div>\n
\n
\n
good what else we got so just very<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly<\/div>\n<\/div>\n<\/div>\n
\n
\n
obviously i put these for sures on<\/div>\n<\/div>\n<\/div>\n
\n
\n
covering a small amount here<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh but then once we get this weak bounce<\/div>\n<\/div>\n<\/div>\n
\n
\n
or this wick up here that’s pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
unsustainable<\/div>\n<\/div>\n<\/div>\n
\n
\n
with the entire sector selling off and<\/div>\n<\/div>\n<\/div>\n
\n
\n
showing complete weakness i’m going to<\/div>\n<\/div>\n<\/div>\n
\n
\n
be<\/div>\n<\/div>\n<\/div>\n
\n
\n
building in even bigger so now i’m full<\/div>\n<\/div>\n<\/div>\n
\n
\n
size here and risking everything against<\/div>\n<\/div>\n<\/div>\n
\n
\n
a hole above 46.<\/div>\n<\/div>\n<\/div>\n
\n
\n
my thought is if we hold back about 46<\/div>\n<\/div>\n<\/div>\n
\n
\n
something’s very wrong with the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i’ll move on<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then again taking covers into this<\/div>\n<\/div>\n<\/div>\n
\n
\n
35 to 36 zone<\/div>\n<\/div>\n<\/div>\n
\n
\n
adding it back on on weak bounces and<\/div>\n<\/div>\n<\/div>\n
\n
\n
finally<\/div>\n<\/div>\n<\/div>\n
\n
\n
covering into my hail mary area of like<\/div>\n<\/div>\n<\/div>\n
\n
\n
30 to 32<\/div>\n<\/div>\n<\/div>\n
\n
\n
and once jme goes limit up and bounces<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s when i take off the last of my<\/div>\n<\/div>\n<\/div>\n
\n
\n
shares<\/div>\n<\/div>\n<\/div>\n
\n
\n
hey graham can i point out one thing<\/div>\n<\/div>\n<\/div>\n
\n
\n
that we all experienced in real time for<\/div>\n<\/div>\n<\/div>\n
\n
\n
this trade that was not easy<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so we did capture this we did crush<\/div>\n<\/div>\n<\/div>\n
\n
\n
this to the back side<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think this is your best trade to date<\/div>\n<\/div>\n<\/div>\n
\n
\n
yep congrats<\/div>\n<\/div>\n<\/div>\n
\n
\n
thank you this pump gma started<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh selling off and we did short this<\/div>\n<\/div>\n<\/div>\n
\n
\n
in front of that 48-ish level<\/div>\n<\/div>\n<\/div>\n
\n
\n
is my memory right it’s around that 48<\/div>\n<\/div>\n<\/div>\n
\n
\n
level right yep<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we there was a point where gme was<\/div>\n<\/div>\n<\/div>\n
\n
\n
rolling over<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so we start to uh short pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
aggressively<\/div>\n<\/div>\n<\/div>\n
\n
\n
this bb triple b y and<\/div>\n<\/div>\n<\/div>\n
\n
\n
it didn’t wasn’t working it wasn’t going<\/div>\n<\/div>\n<\/div>\n
\n
\n
down and we got<\/div>\n<\/div>\n<\/div>\n
\n
\n
blown out of our shorts<\/div>\n<\/div>\n<\/div>\n
\n
\n
against 48 with that move to the upside<\/div>\n<\/div>\n<\/div>\n
\n
\n
can you just show that<\/div>\n<\/div>\n<\/div>\n
\n
\n
to the upside and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
we you know we were not we didn’t pull a<\/div>\n<\/div>\n<\/div>\n
\n
\n
melvin capital<\/div>\n<\/div>\n<\/div>\n
\n
\n
we didn’t just hold this when it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
against our price target<\/div>\n<\/div>\n<\/div>\n
\n
\n
and say well it has to go down because<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think actually even trey said this<\/div>\n<\/div>\n<\/div>\n
\n
\n
when it got above 48 i mean it really<\/div>\n<\/div>\n<\/div>\n
\n
\n
could have gone to 60 as crazy as the<\/div>\n<\/div>\n<\/div>\n
\n
\n
market was at that point<\/div>\n<\/div>\n<\/div>\n
\n
\n
there could have been you know just an<\/div>\n<\/div>\n<\/div>\n
\n
\n
ultimate short squeeze and this<\/div>\n<\/div>\n<\/div>\n
\n
\n
triple b y at that point so we had to<\/div>\n<\/div>\n<\/div>\n
\n
\n
stay within our<\/div>\n<\/div>\n<\/div>\n
\n
\n
risk rules we had to stay within our<\/div>\n<\/div>\n<\/div>\n
\n
\n
stop-loss rules for the trade we put on<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know i i got out of uh my<\/div>\n<\/div>\n<\/div>\n
\n
\n
position there above that 48ish area<\/div>\n<\/div>\n<\/div>\n
\n
\n
um but then you know i’m out took a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little bit of a loss<\/div>\n<\/div>\n<\/div>\n
\n
\n
it wasn’t fun you know i should have<\/div>\n<\/div>\n<\/div>\n
\n
\n
went down uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah but then you quickly say to<\/div>\n<\/div>\n<\/div>\n
\n
\n
yourself all right well maybe it’s just<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe it’s just uh the the move that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
going to actually cause the down move<\/div>\n<\/div>\n<\/div>\n
\n
\n
and maybe there’s just going to be a<\/div>\n<\/div>\n<\/div>\n
\n
\n
complete failure above that 48 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it’ll it’ll show us an even better<\/div>\n<\/div>\n<\/div>\n
\n
\n
short it’ll give us even more<\/div>\n<\/div>\n<\/div>\n
\n
\n
confirmation<\/div>\n<\/div>\n<\/div>\n
\n
\n
the trade is about to work because<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’ll be a failure above that<\/div>\n<\/div>\n<\/div>\n
\n
\n
breakout area<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that a lot of times is denoted by a<\/div>\n<\/div>\n<\/div>\n
\n
\n
quick<\/div>\n<\/div>\n<\/div>\n
\n
\n
move back to the area from which it<\/div>\n<\/div>\n<\/div>\n
\n
\n
broke out from<\/div>\n<\/div>\n<\/div>\n
\n
\n
when something breaks out it shouldn’t<\/div>\n<\/div>\n<\/div>\n
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pull back into the area<\/div>\n<\/div>\n<\/div>\n
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that it broke out from it should just<\/div>\n<\/div>\n<\/div>\n
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get above it it should stay above it<\/div>\n<\/div>\n<\/div>\n
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and so we saw that we saw the fake<\/div>\n<\/div>\n<\/div>\n
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breakout above 48<\/div>\n<\/div>\n<\/div>\n
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we saw it quickly returned back into<\/div>\n<\/div>\n<\/div>\n
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that<\/div>\n<\/div>\n<\/div>\n
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and a half area we got back in<\/div>\n<\/div>\n<\/div>\n
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uh with our shorts uh on on our second<\/div>\n<\/div>\n<\/div>\n
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attempt so it wasn’t just<\/div>\n<\/div>\n<\/div>\n
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the easiest trade in the world we got<\/div>\n<\/div>\n<\/div>\n
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short and we had to trade<\/div>\n<\/div>\n<\/div>\n
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this was we had to trade we had to<\/div>\n<\/div>\n<\/div>\n
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maneuver quickly we had to<\/div>\n<\/div>\n<\/div>\n
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\n
be we had we had to persevere a little<\/div>\n<\/div>\n<\/div>\n
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bit in this trade and then put it back<\/div>\n<\/div>\n<\/div>\n
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on and it was too big of an opportunity<\/div>\n<\/div>\n<\/div>\n
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\n
not to put the trade back on when it<\/div>\n<\/div>\n<\/div>\n
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couldn’t hold above that 48<\/div>\n<\/div>\n<\/div>\n
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uh level uh and gme was just too<\/div>\n<\/div>\n<\/div>\n
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negative for us not to be in this thing<\/div>\n<\/div>\n<\/div>\n
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and missed this trade<\/div>\n<\/div>\n<\/div>\n
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we had you know a good 17 points a<\/div>\n<\/div>\n<\/div>\n
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downside<\/div>\n<\/div>\n<\/div>\n
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for a point a point<\/div>\n<\/div>\n<\/div>\n
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maybe half a point of risk so i wanted<\/div>\n<\/div>\n<\/div>\n
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to point that out<\/div>\n<\/div>\n<\/div>\n
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i thought we did i think we actually<\/div>\n<\/div>\n<\/div>\n
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traded that we did a really nice job i<\/div>\n<\/div>\n<\/div>\n
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think<\/div>\n<\/div>\n<\/div>\n
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getting out and being like okay<\/div>\n<\/div>\n<\/div>\n
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let’s get back in yeah i agree and<\/div>\n<\/div>\n<\/div>\n
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\n
like you said this portion right here i<\/div>\n<\/div>\n<\/div>\n
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still remember it was just a complete<\/div>\n<\/div>\n<\/div>\n
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pain to trade for<\/div>\n<\/div>\n<\/div>\n
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this like 30 minute portion right here<\/div>\n<\/div>\n<\/div>\n
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but we’re doing it because we know that<\/div>\n<\/div>\n<\/div>\n
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once we get in this<\/div>\n<\/div>\n<\/div>\n
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trade and it starts working it’s just an<\/div>\n<\/div>\n<\/div>\n
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\n
immaculate opportunity<\/div>\n<\/div>\n<\/div>\n
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\n
and really starts working for us so you<\/div>\n<\/div>\n<\/div>\n
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just got to put up with it so you know<\/div>\n<\/div>\n<\/div>\n
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you can<\/div>\n<\/div>\n<\/div>\n
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capture an opportunity like this and so<\/div>\n<\/div>\n<\/div>\n
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this is what the executions looked like<\/div>\n<\/div>\n<\/div>\n
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nothing too crazy to say i will say that<\/div>\n<\/div>\n<\/div>\n
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\n
there are a lot of green dots here<\/div>\n<\/div>\n<\/div>\n
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these are very very small covers these<\/div>\n<\/div>\n<\/div>\n
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are maybe one to two percent covers of<\/div>\n<\/div>\n<\/div>\n
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my actual position just something to pay<\/div>\n<\/div>\n<\/div>\n
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myself along the way<\/div>\n<\/div>\n<\/div>\n
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\n
but i’m still holding on to the vast<\/div>\n<\/div>\n<\/div>\n
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majority of my position<\/div>\n<\/div>\n<\/div>\n
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\n
until we get down to like 35 and then my<\/div>\n<\/div>\n<\/div>\n
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covers start getting a little bit bigger<\/div>\n<\/div>\n<\/div>\n
\n
\n
well we’ve talked about that and that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
something i like to do as well which is<\/div>\n<\/div>\n<\/div>\n
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when you see something you know<\/div>\n<\/div>\n<\/div>\n
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\n
you’ve got to hold the stock for the<\/div>\n<\/div>\n<\/div>\n
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\n
real move it’s that type of trade<\/div>\n<\/div>\n<\/div>\n
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\n
but you see it go down you go go down<\/div>\n<\/div>\n<\/div>\n
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and to me one of the things<\/div>\n<\/div>\n<\/div>\n
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that’s helpful to me to fight the human<\/div>\n<\/div>\n<\/div>\n
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\n
nature to<\/div>\n<\/div>\n<\/div>\n
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take some risk off and lock in profits<\/div>\n<\/div>\n<\/div>\n
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\n
is literally to put in super super small<\/div>\n<\/div>\n<\/div>\n
\n
\n
position sizes to to cover you know<\/div>\n<\/div>\n<\/div>\n
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\n
it it helps you to feel like you’re<\/div>\n<\/div>\n<\/div>\n
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\n
doing something<\/div>\n<\/div>\n<\/div>\n
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\n
and you do i mean you super super small<\/div>\n<\/div>\n<\/div>\n
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\n
sizing to to to take some some covers<\/div>\n<\/div>\n<\/div>\n
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\n
and<\/div>\n<\/div>\n<\/div>\n
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\n
you know not meaningful anyway but but<\/div>\n<\/div>\n<\/div>\n
\n
\n
sort of doing that<\/div>\n<\/div>\n<\/div>\n
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\n
i’ve i’ve felt i’ve found to be<\/div>\n<\/div>\n<\/div>\n
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\n
constructive and helpful and uh keeps me<\/div>\n<\/div>\n<\/div>\n
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\n
away from covering<\/div>\n<\/div>\n<\/div>\n
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\n
too much but makes me feel like i’m<\/div>\n<\/div>\n<\/div>\n
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\n
doing something<\/div>\n<\/div>\n<\/div>\n
\n
\n
right i just i kind of had to pay myself<\/div>\n<\/div>\n<\/div>\n
\n
\n
just a little bit into this because<\/div>\n<\/div>\n<\/div>\n
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\n
i’m pretty sure by 39 it was already my<\/div>\n<\/div>\n<\/div>\n
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\n
biggest trade<\/div>\n<\/div>\n<\/div>\n
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\n
so i but i knew that there was this<\/div>\n<\/div>\n<\/div>\n
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\n
downside for 31<\/div>\n<\/div>\n<\/div>\n
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\n
to 30ish so had to allow myself to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
there but also had to pay myself so i<\/div>\n<\/div>\n<\/div>\n
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\n
didn’t feel like an idiot if this thing<\/div>\n<\/div>\n<\/div>\n
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\n
reverses<\/div>\n<\/div>\n<\/div>\n
\n
\n
um but as to ways to improve this is my<\/div>\n<\/div>\n<\/div>\n
\n
\n
biggest trade to date<\/div>\n<\/div>\n<\/div>\n
\n
\n
by kind of a long shot but there’s still<\/div>\n<\/div>\n<\/div>\n
\n
\n
ways to enhance it<\/div>\n<\/div>\n<\/div>\n
\n
\n
and one way to do that is just to<\/div>\n<\/div>\n<\/div>\n
\n
\n
broaden the scope of the attack<\/div>\n<\/div>\n<\/div>\n
\n
\n
so by only focusing on bed bath and<\/div>\n<\/div>\n<\/div>\n
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\n
beyond i’m kind of resigned to capturing<\/div>\n<\/div>\n<\/div>\n
\n
\n
just the move that bed bath and beyond<\/div>\n<\/div>\n<\/div>\n
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\n
makes<\/div>\n<\/div>\n<\/div>\n
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\n
when in reality names like amc and jamie<\/div>\n<\/div>\n<\/div>\n
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\n
were even<\/div>\n<\/div>\n<\/div>\n
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\n
cleaner and were more capitulatory to<\/div>\n<\/div>\n<\/div>\n
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the downside<\/div>\n<\/div>\n<\/div>\n
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\n
so if i can widen my scope<\/div>\n<\/div>\n<\/div>\n
\n
\n
and actually trade those names in tandem<\/div>\n<\/div>\n<\/div>\n
\n
\n
i can really enhance my returns without<\/div>\n<\/div>\n<\/div>\n
\n
\n
really needing additional bandwidth<\/div>\n<\/div>\n<\/div>\n
\n
\n
because they’re trading as a sector<\/div>\n<\/div>\n<\/div>\n
\n
\n
so tracking price action across the<\/div>\n<\/div>\n<\/div>\n
\n
\n
names is really<\/div>\n<\/div>\n<\/div>\n
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\n
quite easy it doesn’t add an extra<\/div>\n<\/div>\n<\/div>\n
\n
\n
difficulty to the to the play<\/div>\n<\/div>\n<\/div>\n
\n
\n
so that’s the biggest way i need to<\/div>\n<\/div>\n<\/div>\n
\n
\n
enhance this like this bed bath and<\/div>\n<\/div>\n<\/div>\n
\n
\n
beyond move was very<\/div>\n<\/div>\n<\/div>\n
\n
\n
large but like i showed earlier gme<\/div>\n<\/div>\n<\/div>\n
\n
\n
dropped out<\/div>\n<\/div>\n<\/div>\n
\n
\n
75 in like an hour and a half so there’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
a lot of<\/div>\n<\/div>\n<\/div>\n
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\n
money to be made in checking out all of<\/div>\n<\/div>\n<\/div>\n
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\n
the names that are<\/div>\n<\/div>\n<\/div>\n
\n
\n
seeing these sell-offs<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah and look i’ll just say a lot of<\/div>\n<\/div>\n<\/div>\n
\n
\n
people have asked how we traded<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh gma and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
you don’t obviously a lot of the bigger<\/div>\n<\/div>\n<\/div>\n
\n
\n
traders<\/div>\n<\/div>\n<\/div>\n
\n
\n
focused a lot of their energy on<\/div>\n<\/div>\n<\/div>\n
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\n
watching gme itself<\/div>\n<\/div>\n<\/div>\n
\n
\n
and trading that with size and and doing<\/div>\n<\/div>\n<\/div>\n
\n
\n
very well<\/div>\n<\/div>\n<\/div>\n
\n
\n
on on that day i actually think this day<\/div>\n<\/div>\n<\/div>\n
\n
\n
was the biggest day that we’ve ever had<\/div>\n<\/div>\n<\/div>\n
\n
\n
as a desk the day that you’re you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
mentioning<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so there were there were guys that<\/div>\n<\/div>\n<\/div>\n
\n
\n
were were focused on the gme and then<\/div>\n<\/div>\n<\/div>\n
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\n
their the bigger traders were<\/div>\n<\/div>\n<\/div>\n
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\n
spread out more amongst some of the<\/div>\n<\/div>\n<\/div>\n
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\n
other names as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
so that is something we observed from<\/div>\n<\/div>\n<\/div>\n
\n
\n
the biggest of traders but<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know trading gma is is not the<\/div>\n<\/div>\n<\/div>\n
\n
\n
easiest thing in the world if you are<\/div>\n<\/div>\n<\/div>\n
\n
\n
a new trader or developing trader and<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s nothing wrong<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it’s actually quite smart to say i’m<\/div>\n<\/div>\n<\/div>\n
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\n
not<\/div>\n<\/div>\n<\/div>\n
\n
\n
quite ready to trade gme yet<\/div>\n<\/div>\n<\/div>\n
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\n
this it’s too spready uh it’s not the<\/div>\n<\/div>\n<\/div>\n
\n
\n
best<\/div>\n<\/div>\n<\/div>\n
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\n
way for me to use up my risk capital at<\/div>\n<\/div>\n<\/div>\n
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\n
the firm<\/div>\n<\/div>\n<\/div>\n
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\n
let me find another<\/div>\n<\/div>\n<\/div>\n
\n
\n
sympathy name that’s going to go down<\/div>\n<\/div>\n<\/div>\n
\n
\n
when gme goes down<\/div>\n<\/div>\n<\/div>\n
\n
\n
that where the spread isn’t so big and<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s not<\/div>\n<\/div>\n<\/div>\n
\n
\n
so is so expensive and let me trade that<\/div>\n<\/div>\n<\/div>\n
\n
\n
and let me practice<\/div>\n<\/div>\n<\/div>\n
\n
\n
and feel what that’s like to trade that<\/div>\n<\/div>\n<\/div>\n
\n
\n
in real time so i improve as a trader so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that one of these days i am<\/div>\n<\/div>\n<\/div>\n
\n
\n
able to do that which you will be able<\/div>\n<\/div>\n<\/div>\n
\n
\n
to<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think a a better first step is to<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade some of these easier trades<\/div>\n<\/div>\n<\/div>\n
\n
\n
amc might have been even easier than<\/div>\n<\/div>\n<\/div>\n
\n
\n
triple b why<\/div>\n<\/div>\n<\/div>\n
\n
\n
because it’s cheaper and not as spready<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and sort of developing success and<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading a sympathy name<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think you do that a lot with the<\/div>\n<\/div>\n<\/div>\n
\n
\n
bitcoin names as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading a lower price less volatile less<\/div>\n<\/div>\n<\/div>\n
\n
\n
expensive<\/div>\n<\/div>\n<\/div>\n
\n
\n
sympathy name having success with that<\/div>\n<\/div>\n<\/div>\n
\n
\n
is really preparing you to be able to<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade the head of the snake<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know and there’s also just<\/div>\n<\/div>\n<\/div>\n
\n
\n
there’s really good money in trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
these sympathy names as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe you don’t even have to advance to<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading the head of the snake<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can develop a whole career on<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading sympathy names with a lot of<\/div>\n<\/div>\n<\/div>\n
\n
\n
size<\/div>\n<\/div>\n<\/div>\n
\n
\n
amc i mean you just crush that thing you<\/div>\n<\/div>\n<\/div>\n
\n
\n
can trade that thing with<\/div>\n<\/div>\n<\/div>\n
\n
\n
with huge size um so<\/div>\n<\/div>\n<\/div>\n
\n
\n
so good to be thinking about that and i<\/div>\n<\/div>\n<\/div>\n
\n
\n
do think<\/div>\n<\/div>\n<\/div>\n
\n
\n
with these plays you want to be thinking<\/div>\n<\/div>\n<\/div>\n
\n
\n
about how you could have put on more<\/div>\n<\/div>\n<\/div>\n
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\n
risk within your<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading system and<\/div>\n<\/div>\n<\/div>\n
\n
\n
an easy thing would have been to maybe<\/div>\n<\/div>\n<\/div>\n
\n
\n
add a stock for another swing trade as<\/div>\n<\/div>\n<\/div>\n
\n
\n
well get some more buying power into the<\/div>\n<\/div>\n<\/div>\n
\n
\n
into the market into the trade spread it<\/div>\n<\/div>\n<\/div>\n
\n
\n
out a little bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
and see how you do well that’s all i<\/div>\n<\/div>\n<\/div>\n
\n
\n
have prepared if anyone has any other<\/div>\n<\/div>\n<\/div>\n
\n
\n
questions i’d be happy to answer<\/div>\n<\/div>\n<\/div>\n
\n
\n
i got a question how did it feel you had<\/div>\n<\/div>\n<\/div>\n
\n
\n
your best trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
to date how did that feel it felt<\/div>\n<\/div>\n<\/div>\n
\n
\n
ridiculous like i<\/div>\n<\/div>\n<\/div>\n
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\n
i didn’t even i was taking peaks at my<\/div>\n<\/div>\n<\/div>\n
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\n
blotter<\/div>\n<\/div>\n<\/div>\n
\n
\n
throughout the trade but it didn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
really resonate with me<\/div>\n<\/div>\n<\/div>\n
\n
\n
and clicked for me until the trade was<\/div>\n<\/div>\n<\/div>\n
\n
\n
already locked in<\/div>\n<\/div>\n<\/div>\n
\n
\n
um but then i looked at the number and i<\/div>\n<\/div>\n<\/div>\n
\n
\n
think i wrote you in my daily report<\/div>\n<\/div>\n<\/div>\n
\n
\n
card like<\/div>\n<\/div>\n<\/div>\n
\n
\n
i just didn’t even think that was on the<\/div>\n<\/div>\n<\/div>\n
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table for this stage in my career<\/div>\n<\/div>\n<\/div>\n
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\n
um because not not only was it the<\/div>\n<\/div>\n<\/div>\n
\n
\n
biggest p l trade in my career is the<\/div>\n<\/div>\n<\/div>\n
\n
\n
biggest with relation to my daily stop<\/div>\n<\/div>\n<\/div>\n
\n
\n
so as my stop gets bumped like you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
saying i don’t even have to be trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
gme this<\/div>\n<\/div>\n<\/div>\n
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\n
in and of itself by getting my stop<\/div>\n<\/div>\n<\/div>\n
\n
\n
bumps<\/div>\n<\/div>\n<\/div>\n
\n
\n
can turn into like ridiculously large<\/div>\n<\/div>\n<\/div>\n
\n
\n
gains<\/div>\n<\/div>\n<\/div>\n
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\n
and quite big opportunities further in<\/div>\n<\/div>\n<\/div>\n
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\n
my career<\/div>\n<\/div>\n<\/div>\n
\n
\n
hey go ahead and click our subscribe<\/div>\n<\/div>\n<\/div>\n
\n
\n
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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\n
time to add your feedback<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the comments section for what videos<\/div>\n<\/div>\n<\/div>\n
\n
\n
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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\n
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\n
train and trade well<\/div>\n<\/div>\n<\/div>\n<\/div>\"\"<\/a><\/p>\n

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

In this video see how a prop trader crushed the GameStop trading opportunity. See a firm prop trader and me recap a personal best trade during the historic GameStop trading opportunity. Let\u2019s get to work on sharing these important trading lessons so you can grow your trading account. * no relevant positions<\/p>\n","protected":false},"author":290,"featured_media":50503,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-50501","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nProp Trader Crushes the GameStop Trading Opportunity | 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\/prop-trader-crushes-the-gamestop-trading-opportunity\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prop Trader Crushes the GameStop Trading Opportunity | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In this video see how a prop trader crushed the GameStop trading opportunity. 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