{"id":51223,"date":"2021-05-17T15:50:44","date_gmt":"2021-05-17T19:50:44","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=51223"},"modified":"2021-05-17T15:50:44","modified_gmt":"2021-05-17T19:50:44","slug":"every-trader-faces-this-issue-how-to-overcome-it","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/every-trader-faces-this-issue-how-to-overcome-it","title":{"rendered":"Every Trader Faces THIS Issue (how to overcome it)"},"content":{"rendered":"

In this video SMB Trader Justin offers feedback to an intern on a trade made in JPM. They discuss an issue this new trader faces which every trader encounters in their career – overtrading.<\/p>\n

Justin shares his rules for overtrading and what has worked for him.<\/p>\nView Video Transcript<\/strong><\/span>

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hey everyone it’s justin and i’m a<\/div>\n<\/div>\n<\/div>\n
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trader at smb capital<\/div>\n<\/div>\n<\/div>\n
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in this video i give some feedback to an<\/div>\n<\/div>\n<\/div>\n
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intern on a trade he made in jp morgan<\/div>\n<\/div>\n<\/div>\n
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in the beginning of the video we<\/div>\n<\/div>\n<\/div>\n
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discussed a recent issue<\/div>\n<\/div>\n<\/div>\n
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this new trader faces and something<\/div>\n<\/div>\n<\/div>\n
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every trader faces at some point in<\/div>\n<\/div>\n<\/div>\n
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their career<\/div>\n<\/div>\n<\/div>\n
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over trading i share my rules for over<\/div>\n<\/div>\n<\/div>\n
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trading and what has worked for me<\/div>\n<\/div>\n<\/div>\n
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throughout the video you’ll hear me give<\/div>\n<\/div>\n<\/div>\n
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just a few pointers<\/div>\n<\/div>\n<\/div>\n
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on trend following and trades to hold<\/div>\n<\/div>\n<\/div>\n
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you’ll hear me share my thoughts<\/div>\n<\/div>\n<\/div>\n
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on his trade in real time enjoy<\/div>\n<\/div>\n<\/div>\n
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this is my playbook i made last week on<\/div>\n<\/div>\n<\/div>\n
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jpmorgan<\/div>\n<\/div>\n<\/div>\n
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and the overarching theme of this<\/div>\n<\/div>\n<\/div>\n
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presentation<\/div>\n<\/div>\n<\/div>\n
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is that keeping it simple and a few<\/div>\n<\/div>\n<\/div>\n
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other things i’ll talk about in a sec<\/div>\n<\/div>\n<\/div>\n
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is the best response um to over trading<\/div>\n<\/div>\n<\/div>\n
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so<\/div>\n<\/div>\n<\/div>\n
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it’s an issue we all face right over<\/div>\n<\/div>\n<\/div>\n
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trading is something<\/div>\n<\/div>\n<\/div>\n
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that uh you know i’ve talked to a lot of<\/div>\n<\/div>\n<\/div>\n
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traders<\/div>\n<\/div>\n<\/div>\n
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since starting at s b and um all face<\/div>\n<\/div>\n<\/div>\n
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all face the issue no matter what<\/div>\n<\/div>\n<\/div>\n
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um stage in their career they are but<\/div>\n<\/div>\n<\/div>\n
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especially at the start<\/div>\n<\/div>\n<\/div>\n
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of the trading career when someone’s<\/div>\n<\/div>\n<\/div>\n
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trying to balance experimentation<\/div>\n<\/div>\n<\/div>\n
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and not over trading it’s easy to make<\/div>\n<\/div>\n<\/div>\n
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mistake the two because<\/div>\n<\/div>\n<\/div>\n
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it’s at this point where uh people are<\/div>\n<\/div>\n<\/div>\n
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trying to figure out what they’re good<\/div>\n<\/div>\n<\/div>\n
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at where their strengths lie<\/div>\n<\/div>\n<\/div>\n
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and what setup and trading style suits<\/div>\n<\/div>\n<\/div>\n
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them so it’s very tough to<\/div>\n<\/div>\n<\/div>\n
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to balance the two and that’s some an<\/div>\n<\/div>\n<\/div>\n
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issue i’ve been i’ve been experiencing<\/div>\n<\/div>\n<\/div>\n
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um for the past two months since<\/div>\n<\/div>\n<\/div>\n
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starting here<\/div>\n<\/div>\n<\/div>\n
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but uh after reviewing my first month’s<\/div>\n<\/div>\n<\/div>\n
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trading statistics<\/div>\n<\/div>\n<\/div>\n
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i could start to see the trades that<\/div>\n<\/div>\n<\/div>\n
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best suited me<\/div>\n<\/div>\n<\/div>\n
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and you know sending my daily review to<\/div>\n<\/div>\n<\/div>\n
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other traders<\/div>\n<\/div>\n<\/div>\n
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uh allows me to be held accountable even<\/div>\n<\/div>\n<\/div>\n
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if i’m on demo even if i’m trading<\/div>\n<\/div>\n<\/div>\n
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smalls in my own personal account<\/div>\n<\/div>\n<\/div>\n
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the responsibility is ultimately on me<\/div>\n<\/div>\n<\/div>\n
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um and<\/div>\n<\/div>\n<\/div>\n
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every day if i’m sending my review and<\/div>\n<\/div>\n<\/div>\n
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i’m and i’m holding myself accountable<\/div>\n<\/div>\n<\/div>\n
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um it’s one of the best ways to to<\/div>\n<\/div>\n<\/div>\n
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combat this issue<\/div>\n<\/div>\n<\/div>\n
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and so a few weeks ago so after i did my<\/div>\n<\/div>\n<\/div>\n
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april review<\/div>\n<\/div>\n<\/div>\n
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i realized that you know there was a few<\/div>\n<\/div>\n<\/div>\n
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trades that<\/div>\n<\/div>\n<\/div>\n
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i shouldn’t have made that they were not<\/div>\n<\/div>\n<\/div>\n
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experimental trades there were trades<\/div>\n<\/div>\n<\/div>\n
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that i knew<\/div>\n<\/div>\n<\/div>\n
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i should have been making and then i<\/div>\n<\/div>\n<\/div>\n
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that i i framed them<\/div>\n<\/div>\n<\/div>\n
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as experimental trades and that i was<\/div>\n<\/div>\n<\/div>\n
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testing out the strategy<\/div>\n<\/div>\n<\/div>\n
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but i i knew that this was not the way<\/div>\n<\/div>\n<\/div>\n
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forward if i was to<\/div>\n<\/div>\n<\/div>\n
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um really progress in my trading so i<\/div>\n<\/div>\n<\/div>\n
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devised like a four-step plan to combat<\/div>\n<\/div>\n<\/div>\n
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this and i’m currently undergoing this<\/div>\n<\/div>\n<\/div>\n
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so step one is to know the exact<\/div>\n<\/div>\n<\/div>\n
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variables of my a plus setups<\/div>\n<\/div>\n<\/div>\n
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so this trade i made on jpmorgan which<\/div>\n<\/div>\n<\/div>\n
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i’ll get into in a second<\/div>\n<\/div>\n<\/div>\n
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is not a crazy you know setup it’s it’s<\/div>\n<\/div>\n<\/div>\n
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one that many viewers watching this<\/div>\n<\/div>\n<\/div>\n
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would probably know off already um but<\/div>\n<\/div>\n<\/div>\n
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it’s knowing what the<\/div>\n<\/div>\n<\/div>\n
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what makes a great set up an a plus set<\/div>\n<\/div>\n<\/div>\n
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up from just the normal average setup<\/div>\n<\/div>\n<\/div>\n
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uh is what will make will really make it<\/div>\n<\/div>\n<\/div>\n
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easier to combo over trading if i’m<\/div>\n<\/div>\n<\/div>\n
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able to see right if a good trade sorry<\/div>\n<\/div>\n<\/div>\n
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if i’m able to distinguish between a<\/div>\n<\/div>\n<\/div>\n
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good trade and a bad trade it’ll it’ll<\/div>\n<\/div>\n<\/div>\n
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make it easier not to over trade<\/div>\n<\/div>\n<\/div>\n
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and step two you know take note of how<\/div>\n<\/div>\n<\/div>\n
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i’m feeling at times that i’m over<\/div>\n<\/div>\n<\/div>\n
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trading you know what is late what has<\/div>\n<\/div>\n<\/div>\n
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caused me to make this trade<\/div>\n<\/div>\n<\/div>\n
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um because typically it might be revenge<\/div>\n<\/div>\n<\/div>\n
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trading i might be tired from the night<\/div>\n<\/div>\n<\/div>\n
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before there’s a multitude of factors<\/div>\n<\/div>\n<\/div>\n
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and then step three i want to use slower<\/div>\n<\/div>\n<\/div>\n
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time store market conditions<\/div>\n<\/div>\n<\/div>\n
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times when it’s is easy to over trade<\/div>\n<\/div>\n<\/div>\n
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and to get shopped up to<\/div>\n<\/div>\n<\/div>\n
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to instead work on enhancing my coding<\/div>\n<\/div>\n<\/div>\n
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skills or you know depending how i’m<\/div>\n<\/div>\n<\/div>\n
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feeling a walk might be a better option<\/div>\n<\/div>\n<\/div>\n
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um regardless though and depending on<\/div>\n<\/div>\n<\/div>\n
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how i’m feeling it i must divert my<\/div>\n<\/div>\n<\/div>\n
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energy it’s<\/div>\n<\/div>\n<\/div>\n
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i’m diverting my energy somewhere else<\/div>\n<\/div>\n<\/div>\n
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in a way and away from trading<\/div>\n<\/div>\n<\/div>\n
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um specifically and then step four and i<\/div>\n<\/div>\n<\/div>\n
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talked about this already um like<\/div>\n<\/div>\n<\/div>\n
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properly structuring experimentation<\/div>\n<\/div>\n<\/div>\n
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instead of<\/div>\n<\/div>\n<\/div>\n
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you know going into the day and saying<\/div>\n<\/div>\n<\/div>\n
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i’ll trade any type of setup<\/div>\n<\/div>\n<\/div>\n
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and just to see how it plays out it’s<\/div>\n<\/div>\n<\/div>\n
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better going to be able to plan<\/div>\n<\/div>\n<\/div>\n
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uh on exactly what type of trades you’re<\/div>\n<\/div>\n<\/div>\n
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going to be making that day or<\/div>\n<\/div>\n<\/div>\n
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or plan on making a lot going on on that<\/div>\n<\/div>\n<\/div>\n
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uh<\/div>\n<\/div>\n<\/div>\n
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previous slide and i like all of it and<\/div>\n<\/div>\n<\/div>\n
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i think we should just take a second<\/div>\n<\/div>\n<\/div>\n
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um to talk about those things a little<\/div>\n<\/div>\n<\/div>\n
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bit more<\/div>\n<\/div>\n<\/div>\n
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sure um i have some feedback on almost<\/div>\n<\/div>\n<\/div>\n
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all these steps here that i think might<\/div>\n<\/div>\n<\/div>\n
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help you<\/div>\n<\/div>\n<\/div>\n
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yeah um so number one knowing the exact<\/div>\n<\/div>\n<\/div>\n
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variables of my a plus setups<\/div>\n<\/div>\n<\/div>\n
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i’ve made hundreds of playbooks and i<\/div>\n<\/div>\n<\/div>\n
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have<\/div>\n<\/div>\n<\/div>\n
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uh quite a few setups that are a<\/div>\n<\/div>\n<\/div>\n
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plus but something that i recognized<\/div>\n<\/div>\n<\/div>\n
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is that no two trades um are the same<\/div>\n<\/div>\n<\/div>\n
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sure uh so you know a backside trade is<\/div>\n<\/div>\n<\/div>\n
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a backside trade and they may have<\/div>\n<\/div>\n<\/div>\n
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similar uh variables but they<\/div>\n<\/div>\n<\/div>\n
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never quite set up in the exact same way<\/div>\n<\/div>\n<\/div>\n
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um<\/div>\n<\/div>\n<\/div>\n
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so i think that is important to uh keep<\/div>\n<\/div>\n<\/div>\n
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in mind<\/div>\n<\/div>\n<\/div>\n
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okay um take note of how i’m feeling at<\/div>\n<\/div>\n<\/div>\n
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times when i’m over trading<\/div>\n<\/div>\n<\/div>\n
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uh that is very key um<\/div>\n<\/div>\n<\/div>\n
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and the more you’re aware of your<\/div>\n<\/div>\n<\/div>\n
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self-talk and how you’re feeling um<\/div>\n<\/div>\n<\/div>\n
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and you’re not ignoring that that voice<\/div>\n<\/div>\n<\/div>\n
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and<\/div>\n<\/div>\n<\/div>\n
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you’re not ignoring how you’re feeling<\/div>\n<\/div>\n<\/div>\n
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you’re gonna get better at um<\/div>\n<\/div>\n<\/div>\n
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you know say to myself okay<\/div>\n<\/div>\n<\/div>\n
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i know exactly what this feeling is<\/div>\n<\/div>\n<\/div>\n
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that’s coming on i’m gonna get up i’m<\/div>\n<\/div>\n<\/div>\n
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gonna take a walk<\/div>\n<\/div>\n<\/div>\n
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um i’m gonna go get up and work out for<\/div>\n<\/div>\n<\/div>\n
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a half hour 45 minutes and set alerts<\/div>\n<\/div>\n<\/div>\n
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before i leave the desk<\/div>\n<\/div>\n<\/div>\n
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um yeah yeah so it’s really good i like<\/div>\n<\/div>\n<\/div>\n
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that a lot<\/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 use<\/div>\n<\/div>\n<\/div>\n
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these slower market conditions to work<\/div>\n<\/div>\n<\/div>\n
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on enhancing my coding skills<\/div>\n<\/div>\n<\/div>\n
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or depending how i’m feeling take a walk<\/div>\n<\/div>\n<\/div>\n
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might be a better option<\/div>\n<\/div>\n<\/div>\n
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um divert my energy elsewhere so<\/div>\n<\/div>\n<\/div>\n
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i love this a lot and something that a<\/div>\n<\/div>\n<\/div>\n
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lot of traders<\/div>\n<\/div>\n<\/div>\n
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that i’m mentoring ask me or what do you<\/div>\n<\/div>\n<\/div>\n
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do during the midday<\/div>\n<\/div>\n<\/div>\n
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um you know sometimes do you just stop<\/div>\n<\/div>\n<\/div>\n
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trading you go do something else what do<\/div>\n<\/div>\n<\/div>\n
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you do<\/div>\n<\/div>\n<\/div>\n
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i mean there’s just so many things you<\/div>\n<\/div>\n<\/div>\n
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could do um<\/div>\n<\/div>\n<\/div>\n
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you know lucky for us at smb we get a<\/div>\n<\/div>\n<\/div>\n
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ton of research<\/div>\n<\/div>\n<\/div>\n
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sent to us you could read those research<\/div>\n<\/div>\n<\/div>\n
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reports you could<\/div>\n<\/div>\n<\/div>\n
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scan through 200 stocks and look for<\/div>\n<\/div>\n<\/div>\n
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stocks that are going to be have the<\/div>\n<\/div>\n<\/div>\n
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potential to break out<\/div>\n<\/div>\n<\/div>\n
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just so many other things that you could<\/div>\n<\/div>\n<\/div>\n
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do that will<\/div>\n<\/div>\n<\/div>\n
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pay dividends in your trading um<\/div>\n<\/div>\n<\/div>\n
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and then step four properly structure<\/div>\n<\/div>\n<\/div>\n
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experimentation and i think this is a<\/div>\n<\/div>\n<\/div>\n
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really interesting one<\/div>\n<\/div>\n<\/div>\n
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so when you’re experimenting<\/div>\n<\/div>\n<\/div>\n
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with a trade essentially what you’re<\/div>\n<\/div>\n<\/div>\n
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doing<\/div>\n<\/div>\n<\/div>\n
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is you’re you<\/div>\n<\/div>\n<\/div>\n
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have a trade thesis right yeah and then<\/div>\n<\/div>\n<\/div>\n
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you’re looking for<\/div>\n<\/div>\n<\/div>\n
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patterns intraday that confirm that<\/div>\n<\/div>\n<\/div>\n
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thesis<\/div>\n<\/div>\n<\/div>\n
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and you’re executing the trade right<\/div>\n<\/div>\n<\/div>\n
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just an idea<\/div>\n<\/div>\n<\/div>\n
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and something that worked for me um when<\/div>\n<\/div>\n<\/div>\n
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i first started trading<\/div>\n<\/div>\n<\/div>\n
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because like you said everyone over<\/div>\n<\/div>\n<\/div>\n
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trades especially when they’re<\/div>\n<\/div>\n<\/div>\n
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trying to find their niche and um<\/div>\n<\/div>\n<\/div>\n
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you know trying to become consistent um<\/div>\n<\/div>\n<\/div>\n
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trying to find setups for their playbook<\/div>\n<\/div>\n<\/div>\n
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um something that worked for me was<\/div>\n<\/div>\n<\/div>\n
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uh some of the guys that are on this<\/div>\n<\/div>\n<\/div>\n
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call probably<\/div>\n<\/div>\n<\/div>\n
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may have heard me say this is the three<\/div>\n<\/div>\n<\/div>\n
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strikes rule<\/div>\n<\/div>\n<\/div>\n
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um and that is basically you have a<\/div>\n<\/div>\n<\/div>\n
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trade idea<\/div>\n<\/div>\n<\/div>\n
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and you give yourself three attempts to<\/div>\n<\/div>\n<\/div>\n
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trade that idea<\/div>\n<\/div>\n<\/div>\n
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and like baseball after the third<\/div>\n<\/div>\n<\/div>\n
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attempt<\/div>\n<\/div>\n<\/div>\n
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um you get stopped out that’s three<\/div>\n<\/div>\n<\/div>\n
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strikes<\/div>\n<\/div>\n<\/div>\n
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you’re out uh and you can’t trade that<\/div>\n<\/div>\n<\/div>\n
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ticker again for the rest of the day<\/div>\n<\/div>\n<\/div>\n
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um and i think that is just something<\/div>\n<\/div>\n<\/div>\n
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that might work<\/div>\n<\/div>\n<\/div>\n
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well for you i think that’s i absolutely<\/div>\n<\/div>\n<\/div>\n
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agree i think that’s a great idea<\/div>\n<\/div>\n<\/div>\n
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because<\/div>\n<\/div>\n<\/div>\n
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i what i found is that many times where<\/div>\n<\/div>\n<\/div>\n
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i’m trying to um<\/div>\n<\/div>\n<\/div>\n
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really place a trade i’m truly trying to<\/div>\n<\/div>\n<\/div>\n
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you know confirm my buyers potential<\/div>\n<\/div>\n<\/div>\n
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stock i’m definitely i’m definitely um<\/div>\n<\/div>\n<\/div>\n
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trading at times it just doesn’t make<\/div>\n<\/div>\n<\/div>\n
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sense and i i really like i really like<\/div>\n<\/div>\n<\/div>\n
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that three strike rule<\/div>\n<\/div>\n<\/div>\n
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um so the trade strategy<\/div>\n<\/div>\n<\/div>\n
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itself like i mentioned it’s it’s very<\/div>\n<\/div>\n<\/div>\n
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simple but<\/div>\n<\/div>\n<\/div>\n
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you know either through pre-market<\/div>\n<\/div>\n<\/div>\n
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planning or you know scan alerts i look<\/div>\n<\/div>\n<\/div>\n
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for stocks that are showing a lot of<\/div>\n<\/div>\n<\/div>\n
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strength in the first half an hour to an<\/div>\n<\/div>\n<\/div>\n
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hour<\/div>\n<\/div>\n<\/div>\n
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um i then look to see where the chart is<\/div>\n<\/div>\n<\/div>\n
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on the daily to see if it’s positioned<\/div>\n<\/div>\n<\/div>\n
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well<\/div>\n<\/div>\n<\/div>\n
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for continuation after this after this<\/div>\n<\/div>\n<\/div>\n
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morning strength<\/div>\n<\/div>\n<\/div>\n
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what i then look for is i wait for a<\/div>\n<\/div>\n<\/div>\n
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pullback a gradual<\/div>\n<\/div>\n<\/div>\n
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retracement to vwop and a whole of ewop<\/div>\n<\/div>\n<\/div>\n
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and then a quick bounce off<\/div>\n<\/div>\n<\/div>\n
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for an entry and so my target is to take<\/div>\n<\/div>\n<\/div>\n
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off half at one standard deviation<\/div>\n<\/div>\n<\/div>\n
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away from v wap just to take some risk<\/div>\n<\/div>\n<\/div>\n
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off the table<\/div>\n<\/div>\n<\/div>\n
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and depending on the strength here i<\/div>\n<\/div>\n<\/div>\n
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might look to add more<\/div>\n<\/div>\n<\/div>\n
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or potentially add to my position and it<\/div>\n<\/div>\n<\/div>\n
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all depends at the moment<\/div>\n<\/div>\n<\/div>\n
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um if buyers are really stepping off if<\/div>\n<\/div>\n<\/div>\n
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the market supports<\/div>\n<\/div>\n<\/div>\n
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uh that move higher but i’m always<\/div>\n<\/div>\n<\/div>\n
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looking for a reason to sell i’m always<\/div>\n<\/div>\n<\/div>\n
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looking for a change in trend<\/div>\n<\/div>\n<\/div>\n
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and so my stops then my initial stop<\/div>\n<\/div>\n<\/div>\n
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will be below v<\/div>\n<\/div>\n<\/div>\n
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up um and then the view up standard<\/div>\n<\/div>\n<\/div>\n
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deviation bands act as a<\/div>\n<\/div>\n<\/div>\n
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dynamic trailing stop of sorts if the<\/div>\n<\/div>\n<\/div>\n
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stock continues pushing higher<\/div>\n<\/div>\n<\/div>\n
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and say in the afternoon it pulls below<\/div>\n<\/div>\n<\/div>\n
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view up or pulls below the<\/div>\n<\/div>\n<\/div>\n
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the plus one standard deviation band<\/div>\n<\/div>\n<\/div>\n
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then i’ll take i’ll take the rest off<\/div>\n<\/div>\n<\/div>\n
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\n
um so your stop my initial stop will be<\/div>\n<\/div>\n<\/div>\n
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below<\/div>\n<\/div>\n<\/div>\n
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v web um just below the price or below<\/div>\n<\/div>\n<\/div>\n
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um the the the low of the<\/div>\n<\/div>\n<\/div>\n
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candle below v web um where exactly<\/div>\n<\/div>\n<\/div>\n
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yeah i know that’s a great question um<\/div>\n<\/div>\n<\/div>\n
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it all depends<\/div>\n<\/div>\n<\/div>\n
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it all depends on where the market is<\/div>\n<\/div>\n<\/div>\n
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itself at this point and if there’s any<\/div>\n<\/div>\n<\/div>\n
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support<\/div>\n<\/div>\n<\/div>\n
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resistance levels that might correspond<\/div>\n<\/div>\n<\/div>\n
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where v wap is<\/div>\n<\/div>\n<\/div>\n
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in this case there isn’t there wasn’t um<\/div>\n<\/div>\n<\/div>\n
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like a pre-market<\/div>\n<\/div>\n<\/div>\n
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\n
resistance or pre-market sport that i<\/div>\n<\/div>\n<\/div>\n
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could um<\/div>\n<\/div>\n<\/div>\n
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use my stop against you know see if it<\/div>\n<\/div>\n<\/div>\n
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\n
couldn’t hold support<\/div>\n<\/div>\n<\/div>\n
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\n
uh for example but usually what i’m<\/div>\n<\/div>\n<\/div>\n
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doing is i’m risking<\/div>\n<\/div>\n<\/div>\n
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um about a quarter to a third of a<\/div>\n<\/div>\n<\/div>\n
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standard deviation below v<\/div>\n<\/div>\n<\/div>\n
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\n
up um but ultimately what i’m looking<\/div>\n<\/div>\n<\/div>\n
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for is that<\/div>\n<\/div>\n<\/div>\n
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it doesn’t spend time below that level<\/div>\n<\/div>\n<\/div>\n
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\n
and that volume isn’t accumulating you<\/div>\n<\/div>\n<\/div>\n
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\n
know below v-wop<\/div>\n<\/div>\n<\/div>\n
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\n
um i want to see a hold above that level<\/div>\n<\/div>\n<\/div>\n
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\n
um and then a gradually gradual buying<\/div>\n<\/div>\n<\/div>\n
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\n
for the for the rest of the day so<\/div>\n<\/div>\n<\/div>\n
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\n
you know i guess it all it all depends<\/div>\n<\/div>\n<\/div>\n
\n
\n
on where the stock itself is positioned<\/div>\n<\/div>\n<\/div>\n
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\n
okay got it so great you have some<\/div>\n<\/div>\n<\/div>\n
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\n
detail there<\/div>\n<\/div>\n<\/div>\n
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awesome um and then either through<\/div>\n<\/div>\n<\/div>\n
\n
\n
pre-market planning or scan alerts i<\/div>\n<\/div>\n<\/div>\n
\n
\n
look for stocks that are showing a lot<\/div>\n<\/div>\n<\/div>\n
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\n
of strength<\/div>\n<\/div>\n<\/div>\n
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\n
in the first hour i think that’s a very<\/div>\n<\/div>\n<\/div>\n
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broad statement<\/div>\n<\/div>\n<\/div>\n
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\n
showing a lot of strength in the first<\/div>\n<\/div>\n<\/div>\n
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\n
hour i think that<\/div>\n<\/div>\n<\/div>\n
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you should be a little more clear about<\/div>\n<\/div>\n<\/div>\n
\n
\n
that and make a little checklist for<\/div>\n<\/div>\n<\/div>\n
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\n
what you want to see exactly to show you<\/div>\n<\/div>\n<\/div>\n
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that the<\/div>\n<\/div>\n<\/div>\n
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\n
stock is strong absolutely yeah i i get<\/div>\n<\/div>\n<\/div>\n
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\n
into that uh a bit at the end<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and uh exactly what i’m looking for i<\/div>\n<\/div>\n<\/div>\n
\n
\n
guess in this in this uh setup but<\/div>\n<\/div>\n<\/div>\n
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\n
no absolutely agree yeah the statistics<\/div>\n<\/div>\n<\/div>\n
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\n
so average daily volume 15 million right<\/div>\n<\/div>\n<\/div>\n
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\n
arvol in this case was one so this is<\/div>\n<\/div>\n<\/div>\n
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\n
something i found interesting<\/div>\n<\/div>\n<\/div>\n
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\n
and my stats i i guess support this is<\/div>\n<\/div>\n<\/div>\n
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\n
stocks that have you know crazy arvo i<\/div>\n<\/div>\n<\/div>\n
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\n
don’t seem to be doing too well without<\/div>\n<\/div>\n<\/div>\n
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\n
the minute<\/div>\n<\/div>\n<\/div>\n
\n
\n
and stocks like this where you know it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s obviously it has great volume every<\/div>\n<\/div>\n<\/div>\n
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\n
day<\/div>\n<\/div>\n<\/div>\n
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\n
and it’s you know a fairly reliable<\/div>\n<\/div>\n<\/div>\n
\n
\n
ticker you know there’s high<\/div>\n<\/div>\n<\/div>\n
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\n
institutional ownership which i’ll talk<\/div>\n<\/div>\n<\/div>\n
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\n
more about in a sec<\/div>\n<\/div>\n<\/div>\n
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\n
and the arvold isn’t crazy so that’s<\/div>\n<\/div>\n<\/div>\n
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\n
something i must bear in mind<\/div>\n<\/div>\n<\/div>\n
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\n
um and a more of a reason you know to<\/div>\n<\/div>\n<\/div>\n
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\n
hold the stock longer<\/div>\n<\/div>\n<\/div>\n
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\n
um given it hasn’t some you know crazy<\/div>\n<\/div>\n<\/div>\n
\n
\n
move but<\/div>\n<\/div>\n<\/div>\n
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\n
the atr in this case was three so it has<\/div>\n<\/div>\n<\/div>\n
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\n
a nice range<\/div>\n<\/div>\n<\/div>\n
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\n
um short percentage of float you know<\/div>\n<\/div>\n<\/div>\n
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\n
0.60<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s not that’s not really relevant in<\/div>\n<\/div>\n<\/div>\n
\n
\n
this case the key here is<\/div>\n<\/div>\n<\/div>\n
\n
\n
institutional ownership of 73 percent<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and so you know given where jpm<\/div>\n<\/div>\n<\/div>\n
\n
\n
was positioned on the daily chart right<\/div>\n<\/div>\n<\/div>\n
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\n
uh the string show in the first hour<\/div>\n<\/div>\n<\/div>\n
\n
\n
which i’ll get into<\/div>\n<\/div>\n<\/div>\n
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\n
in sec and the fact that they held above<\/div>\n<\/div>\n<\/div>\n
\n
\n
you up is indicative of a move higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
and what i look for in these in these<\/div>\n<\/div>\n<\/div>\n
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cases is<\/div>\n<\/div>\n<\/div>\n
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\n
high institutional ownership um so that<\/div>\n<\/div>\n<\/div>\n
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they<\/div>\n<\/div>\n<\/div>\n
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\n
so that these institutions that are<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking at these stocks um<\/div>\n<\/div>\n<\/div>\n
\n
\n
are looking at you know v walk you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
the true average price for the day<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh for logical entry i want to see if if<\/div>\n<\/div>\n<\/div>\n
\n
\n
vwop is being held up by these bigger<\/div>\n<\/div>\n<\/div>\n
\n
\n
players<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and just on friday itself uh there<\/div>\n<\/div>\n<\/div>\n
\n
\n
was this constant battle between your<\/div>\n<\/div>\n<\/div>\n
\n
\n
growth and sql stocks and that seems to<\/div>\n<\/div>\n<\/div>\n
\n
\n
be a trend<\/div>\n<\/div>\n<\/div>\n
\n
\n
a trend these past few um weeks but on<\/div>\n<\/div>\n<\/div>\n
\n
\n
friday you know with the poor jobs<\/div>\n<\/div>\n<\/div>\n
\n
\n
report and stuff a lot of investors<\/div>\n<\/div>\n<\/div>\n
\n
\n
poured money back into tech however<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i’ve seen the next slide you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
xlf the<\/div>\n<\/div>\n<\/div>\n
\n
\n
financial sector etf and spy itself were<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know had were very strong<\/div>\n<\/div>\n<\/div>\n
\n
\n
and were very strong at these points so<\/div>\n<\/div>\n<\/div>\n
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\n
i bear that mind<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and then looking at jp morgan right<\/div>\n<\/div>\n<\/div>\n
\n
\n
in comparison to xlf in particular<\/div>\n<\/div>\n<\/div>\n
\n
\n
it doesn’t look as overextended and<\/div>\n<\/div>\n<\/div>\n
\n
\n
still has some potential<\/div>\n<\/div>\n<\/div>\n
\n
\n
for move and i was kind of eyeing this<\/div>\n<\/div>\n<\/div>\n
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\n
161<\/div>\n<\/div>\n<\/div>\n
\n
\n
69 level as its recent high<\/div>\n<\/div>\n<\/div>\n
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\n
um as my i guess my real target<\/div>\n<\/div>\n<\/div>\n
\n
\n
um to get as close to there as possible<\/div>\n<\/div>\n<\/div>\n
\n
\n
and potentially break um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so what i’m looking for really in a<\/div>\n<\/div>\n<\/div>\n
\n
\n
long-term chart<\/div>\n<\/div>\n<\/div>\n
\n
\n
is that it’s just positioned nicely and<\/div>\n<\/div>\n<\/div>\n
\n
\n
that there’s no real<\/div>\n<\/div>\n<\/div>\n
\n
\n
overhead uh resistance i know here that<\/div>\n<\/div>\n<\/div>\n
\n
\n
it’s approaching the high but say for<\/div>\n<\/div>\n<\/div>\n
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\n
example it was<\/div>\n<\/div>\n<\/div>\n
\n
\n
um you know free a few weeks prior and<\/div>\n<\/div>\n<\/div>\n
\n
\n
it was below that 150 level<\/div>\n<\/div>\n<\/div>\n
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\n
i wouldn’t have the same conviction that<\/div>\n<\/div>\n<\/div>\n
\n
\n
i would um intraday<\/div>\n<\/div>\n<\/div>\n
\n
\n
given where it’s positioned on the daily<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and so trade management itself<\/div>\n<\/div>\n<\/div>\n
\n
\n
right so this is what i was um and i’ll<\/div>\n<\/div>\n<\/div>\n
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talk<\/div>\n<\/div>\n<\/div>\n
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\n
a bit more about the strength what i’m<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking for in the morning<\/div>\n<\/div>\n<\/div>\n
\n
\n
is if there’s any pre-market levels<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that are some way to find so this we<\/div>\n<\/div>\n<\/div>\n
\n
\n
have this 157<\/div>\n<\/div>\n<\/div>\n
\n
\n
and 158.50 level what i look for is<\/div>\n<\/div>\n<\/div>\n
\n
\n
a hold of say the lord the support and<\/div>\n<\/div>\n<\/div>\n
\n
\n
the 157 in this case<\/div>\n<\/div>\n<\/div>\n
\n
\n
and a breakthrough and the pre-market<\/div>\n<\/div>\n<\/div>\n
\n
\n
resistance say 158.50<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then what i look for is it to hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
above the plus one standard deviation<\/div>\n<\/div>\n<\/div>\n
\n
\n
band<\/div>\n<\/div>\n<\/div>\n
\n
\n
and really show some strength for the<\/div>\n<\/div>\n<\/div>\n
\n
\n
first you know half an hour to an hour<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and then what i’m looking for is this<\/div>\n<\/div>\n<\/div>\n
\n
\n
pullback to view up where<\/div>\n<\/div>\n<\/div>\n
\n
\n
we start to see and the institutions in<\/div>\n<\/div>\n<\/div>\n
\n
\n
this case the buyers<\/div>\n<\/div>\n<\/div>\n
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\n
the buyers um stepping up really what’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
pivotal for me<\/div>\n<\/div>\n<\/div>\n
\n
\n
is that v what’s sloped that it’s not a<\/div>\n<\/div>\n<\/div>\n
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\n
flat fee what<\/div>\n<\/div>\n<\/div>\n
\n
\n
um is that for me uh is more indicative<\/div>\n<\/div>\n<\/div>\n
\n
\n
of a move higher so<\/div>\n<\/div>\n<\/div>\n
\n
\n
what i did was i entered long on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
test of the v walk risking about a<\/div>\n<\/div>\n<\/div>\n
\n
\n
quarter of standard deviation below<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i took off half into this quick<\/div>\n<\/div>\n<\/div>\n
\n
\n
bounce so<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is something i really have to<\/div>\n<\/div>\n<\/div>\n
\n
\n
review and i’d love to hear your<\/div>\n<\/div>\n<\/div>\n
\n
\n
thoughts um in a moment<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know i was thinking that we would<\/div>\n<\/div>\n<\/div>\n
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\n
have this big push and<\/div>\n<\/div>\n<\/div>\n
\n
\n
push into the tech and out of cycles and<\/div>\n<\/div>\n<\/div>\n
\n
\n
like hughes at the time right we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
breaking above you up<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and we’re actually very strong and<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
i took i took um i took some off the<\/div>\n<\/div>\n<\/div>\n
\n
\n
table took off half<\/div>\n<\/div>\n<\/div>\n
\n
\n
at the table just you know in fear that<\/div>\n<\/div>\n<\/div>\n
\n
\n
we could continue lower so i didn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
really i really didn’t stick to my plan<\/div>\n<\/div>\n<\/div>\n
\n
\n
and ask it in that case but<\/div>\n<\/div>\n<\/div>\n
\n
\n
um at this point you know i was i was<\/div>\n<\/div>\n<\/div>\n
\n
\n
half in and once we reached this<\/div>\n<\/div>\n<\/div>\n
\n
\n
plus one standard deviation band i took<\/div>\n<\/div>\n<\/div>\n
\n
\n
off a quarter of my position<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then when we started to show some<\/div>\n<\/div>\n<\/div>\n
\n
\n
strength above this 160 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
um i added added to the position and<\/div>\n<\/div>\n<\/div>\n
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\n
let it ride for a few hours and then got<\/div>\n<\/div>\n<\/div>\n
\n
\n
stopped out here so<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know definitely a lot to review in<\/div>\n<\/div>\n<\/div>\n
\n
\n
this trade i found<\/div>\n<\/div>\n<\/div>\n
\n
\n
um there there is a lot of things i look<\/div>\n<\/div>\n<\/div>\n
\n
\n
at ideal trade management in a sec<\/div>\n<\/div>\n<\/div>\n
\n
\n
but i think i think ultimately i wasn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
i wasn’t sticking to my plan<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and i wasn’t keeping i wasn’t keeping<\/div>\n<\/div>\n<\/div>\n
\n
\n
it simple like i should have<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and so this is just a trader view<\/div>\n<\/div>\n<\/div>\n
\n
\n
just to just to show um more in depth of<\/div>\n<\/div>\n<\/div>\n
\n
\n
what i was looking at<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the trade management but the ideal<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade management right<\/div>\n<\/div>\n<\/div>\n
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\n
something something i really should have<\/div>\n<\/div>\n<\/div>\n
\n
\n
been aware of<\/div>\n<\/div>\n<\/div>\n
\n
\n
i guess in in real time i know you talk<\/div>\n<\/div>\n<\/div>\n
\n
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about this is just being<\/div>\n<\/div>\n<\/div>\n
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you know self-talk during these times<\/div>\n<\/div>\n<\/div>\n
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and talking with different traders at<\/div>\n<\/div>\n<\/div>\n
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the firm i think is the best way for me<\/div>\n<\/div>\n<\/div>\n
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to<\/div>\n<\/div>\n<\/div>\n
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you know really stay emotionally with a<\/div>\n<\/div>\n<\/div>\n
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trade you know i i should have beard in<\/div>\n<\/div>\n<\/div>\n
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mind that you know<\/div>\n<\/div>\n<\/div>\n
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jp morgan was very near its all-time<\/div>\n<\/div>\n<\/div>\n
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high<\/div>\n<\/div>\n<\/div>\n
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there was no change in trend um no<\/div>\n<\/div>\n<\/div>\n
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change at least in good volume<\/div>\n<\/div>\n<\/div>\n
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um there’s no change to trend during the<\/div>\n<\/div>\n<\/div>\n
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day i had positioned myself<\/div>\n<\/div>\n<\/div>\n
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well enough at the early um hours of the<\/div>\n<\/div>\n<\/div>\n
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day<\/div>\n<\/div>\n<\/div>\n
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to hold for a longer move and you know i<\/div>\n<\/div>\n<\/div>\n
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took off half<\/div>\n<\/div>\n<\/div>\n
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i really shouldn’t have taken off half<\/div>\n<\/div>\n<\/div>\n
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into that spike because<\/div>\n<\/div>\n<\/div>\n
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um if anything that’s showing me that<\/div>\n<\/div>\n<\/div>\n
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you know the buyers the big bidders are<\/div>\n<\/div>\n<\/div>\n
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that they really do want the stock to<\/div>\n<\/div>\n<\/div>\n
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continue higher for the day um<\/div>\n<\/div>\n<\/div>\n
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\n
and especially now the volume at this<\/div>\n<\/div>\n<\/div>\n
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\n
point it doesn’t show a little volume<\/div>\n<\/div>\n<\/div>\n
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\n
it was picking up around here um just<\/div>\n<\/div>\n<\/div>\n
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just after<\/div>\n<\/div>\n<\/div>\n
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it spiked off you up and buyers taken<\/div>\n<\/div>\n<\/div>\n
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control so it’s very much an emotional<\/div>\n<\/div>\n<\/div>\n
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sell<\/div>\n<\/div>\n<\/div>\n
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in that case um if anything like i said<\/div>\n<\/div>\n<\/div>\n
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it’s an opportunity to add<\/div>\n<\/div>\n<\/div>\n
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as opposed to reason to sell because it<\/div>\n<\/div>\n<\/div>\n
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should strengthen immediately<\/div>\n<\/div>\n<\/div>\n
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so the variable checklist um<\/div>\n<\/div>\n<\/div>\n
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all what i’m constantly looking for and<\/div>\n<\/div>\n<\/div>\n
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\n
what’s what i’m constantly adapting<\/div>\n<\/div>\n<\/div>\n
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\n
is what it is are the what are the<\/div>\n<\/div>\n<\/div>\n
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variables that make for<\/div>\n<\/div>\n<\/div>\n
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a great setup did you think about at all<\/div>\n<\/div>\n<\/div>\n
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um what’s been driving the banks and<\/div>\n<\/div>\n<\/div>\n
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did you think about it all jp morgan’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
recent earnings report<\/div>\n<\/div>\n<\/div>\n
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um did you think at all about<\/div>\n<\/div>\n<\/div>\n
\n
\n
the treasury the 10-year uh widening<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re back over 1.6<\/div>\n<\/div>\n<\/div>\n
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which is bullish for banks um<\/div>\n<\/div>\n<\/div>\n
\n
\n
the treasury back over 1.6 means that<\/div>\n<\/div>\n<\/div>\n
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that increases<\/div>\n<\/div>\n<\/div>\n
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um net interest income for the banks<\/div>\n<\/div>\n<\/div>\n
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which is very<\/div>\n<\/div>\n<\/div>\n
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\n
bullish the 10 year is continuing to go<\/div>\n<\/div>\n<\/div>\n
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up<\/div>\n<\/div>\n<\/div>\n
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um you know from jp morgan’s report<\/div>\n<\/div>\n<\/div>\n
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um revenues from investment<\/div>\n<\/div>\n<\/div>\n
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banking are back<\/div>\n<\/div>\n<\/div>\n
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\n
up over 46 percent year-over-year and i<\/div>\n<\/div>\n<\/div>\n
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think<\/div>\n<\/div>\n<\/div>\n
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that you know you you<\/div>\n<\/div>\n<\/div>\n
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mentioned you sold a little too early um<\/div>\n<\/div>\n<\/div>\n
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i think that if<\/div>\n<\/div>\n<\/div>\n
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you do a quick dive<\/div>\n<\/div>\n<\/div>\n
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\n
into what’s driving the banks and<\/div>\n<\/div>\n<\/div>\n
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\n
why is jp morgan um near all-time highs<\/div>\n<\/div>\n<\/div>\n
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why is jp morgan<\/div>\n<\/div>\n<\/div>\n
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um so strong if you if you just compile<\/div>\n<\/div>\n<\/div>\n
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\n
a quick<\/div>\n<\/div>\n<\/div>\n
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\n
list of all these bullish catalysts<\/div>\n<\/div>\n<\/div>\n
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\n
for xlf and jpmorgan<\/div>\n<\/div>\n<\/div>\n
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um that might give you the conviction to<\/div>\n<\/div>\n<\/div>\n
\n
\n
to hold the trade higher and say okay<\/div>\n<\/div>\n<\/div>\n
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\n
well this thing’s right at all-time<\/div>\n<\/div>\n<\/div>\n
\n
\n
highs<\/div>\n<\/div>\n<\/div>\n
\n
\n
um it’s acting very strong<\/div>\n<\/div>\n<\/div>\n
\n
\n
the market is very strong the market’s<\/div>\n<\/div>\n<\/div>\n
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\n
shrugging off this jobs report<\/div>\n<\/div>\n<\/div>\n
\n
\n
um that day that friday uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
spy did trade to new all-time highs in<\/div>\n<\/div>\n<\/div>\n
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\n
the first<\/div>\n<\/div>\n<\/div>\n
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\n
15 minutes i believe<\/div>\n<\/div>\n<\/div>\n
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\n
and i think that maybe<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m not sure if you were focused on what<\/div>\n<\/div>\n<\/div>\n
\n
\n
the spy was doing and what xlf was doing<\/div>\n<\/div>\n<\/div>\n
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\n
while you’re in the trade but i think<\/div>\n<\/div>\n<\/div>\n
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that<\/div>\n<\/div>\n<\/div>\n
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\n
um maybe if you<\/div>\n<\/div>\n<\/div>\n
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\n
if you said to yourself okay well the<\/div>\n<\/div>\n<\/div>\n
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\n
jobs numbers<\/div>\n<\/div>\n<\/div>\n
\n
\n
it was a huge miss um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and we totally shrugged that off off the<\/div>\n<\/div>\n<\/div>\n
\n
\n
open we spiked down<\/div>\n<\/div>\n<\/div>\n
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\n
into the jobs numbers low and the market<\/div>\n<\/div>\n<\/div>\n
\n
\n
ripped and within the first 15 minutes<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re at all-time highs<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and i believe there was one small<\/div>\n<\/div>\n<\/div>\n
\n
\n
pullback and the market continued<\/div>\n<\/div>\n<\/div>\n
\n
\n
ripping that friday<\/div>\n<\/div>\n<\/div>\n
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\n
what would help is you know talking<\/div>\n<\/div>\n<\/div>\n
\n
\n
yourself through that and saying okay<\/div>\n<\/div>\n<\/div>\n
\n
\n
well clearly the bulls are in control<\/div>\n<\/div>\n<\/div>\n
\n
\n
today and all the shorts that piled into<\/div>\n<\/div>\n<\/div>\n
\n
\n
that big jobs number miss<\/div>\n<\/div>\n<\/div>\n
\n
\n
um they’re getting squeezed<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i think if you took all that into<\/div>\n<\/div>\n<\/div>\n
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\n
context<\/div>\n<\/div>\n<\/div>\n
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\n
um you would have done a much better job<\/div>\n<\/div>\n<\/div>\n
\n
\n
holding it<\/div>\n<\/div>\n<\/div>\n
\n
\n
but still a really really great trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
really nice<\/div>\n<\/div>\n<\/div>\n
\n
\n
entry just something to think about<\/div>\n<\/div>\n<\/div>\n
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\n
absolutely no i appreciate that because<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s something<\/div>\n<\/div>\n<\/div>\n
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\n
that i’ve been trying to work on i found<\/div>\n<\/div>\n<\/div>\n
\n
\n
that and this is this is more broadly<\/div>\n<\/div>\n<\/div>\n
\n
\n
speaking but<\/div>\n<\/div>\n<\/div>\n
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\n
you know before i started at smb um i<\/div>\n<\/div>\n<\/div>\n
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\n
was very much<\/div>\n<\/div>\n<\/div>\n
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\n
a pure price action um you know tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
trader um and then you know something<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’ve been working on<\/div>\n<\/div>\n<\/div>\n
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\n
is since being here is really applying<\/div>\n<\/div>\n<\/div>\n
\n
\n
um the wider context of things<\/div>\n<\/div>\n<\/div>\n
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\n
you know like you said where is the<\/div>\n<\/div>\n<\/div>\n
\n
\n
market at this point<\/div>\n<\/div>\n<\/div>\n
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\n
um how you know how is the market<\/div>\n<\/div>\n<\/div>\n
\n
\n
reacting as opposed to what the actual<\/div>\n<\/div>\n<\/div>\n
\n
\n
news is<\/div>\n<\/div>\n<\/div>\n
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\n
i think what you mentioned about um<\/div>\n<\/div>\n<\/div>\n
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\n
reacting<\/div>\n<\/div>\n<\/div>\n
\n
\n
or how the market looking at how the<\/div>\n<\/div>\n<\/div>\n
\n
\n
market reacts to the news is more<\/div>\n<\/div>\n<\/div>\n
\n
\n
important<\/div>\n<\/div>\n<\/div>\n
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\n
and that’s something that’s you know<\/div>\n<\/div>\n<\/div>\n
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\n
what i really<\/div>\n<\/div>\n<\/div>\n
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\n
found um you know talking with different<\/div>\n<\/div>\n<\/div>\n
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\n
traders in real time<\/div>\n<\/div>\n<\/div>\n
\n
\n
the real benefit um is i’m able to talk<\/div>\n<\/div>\n<\/div>\n
\n
\n
through things like you said<\/div>\n<\/div>\n<\/div>\n
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\n
and because you know in the moment when<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know you’re making a trade and<\/div>\n<\/div>\n<\/div>\n
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\n
there’s a lot of different things going<\/div>\n<\/div>\n<\/div>\n
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\n
on you might be looking at different<\/div>\n<\/div>\n<\/div>\n
\n
\n
charts and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
thinking through um you know how the job<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know how spy in xlf is doing is<\/div>\n<\/div>\n<\/div>\n
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\n
that’s that’s something i’ve been<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’ve been working on so i don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
absolutely agree there<\/div>\n<\/div>\n<\/div>\n
\n
\n
um so the variable checklist<\/div>\n<\/div>\n<\/div>\n
\n
\n
um i mentioned a lot of these already<\/div>\n<\/div>\n<\/div>\n
\n
\n
but important technical levels on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
daily charts<\/div>\n<\/div>\n<\/div>\n
\n
\n
um obviously that’s that’s that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
something i look for<\/div>\n<\/div>\n<\/div>\n
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\n
intraday technical supporting of course<\/div>\n<\/div>\n<\/div>\n
\n
\n
high institutional ownership this<\/div>\n<\/div>\n<\/div>\n
\n
\n
is a very important one for me and the<\/div>\n<\/div>\n<\/div>\n
\n
\n
market sector<\/div>\n<\/div>\n<\/div>\n
\n
\n
supporting the move in this case orville<\/div>\n<\/div>\n<\/div>\n
\n
\n
wasn’t that elevated<\/div>\n<\/div>\n<\/div>\n
\n
\n
relative volume was not elevated but uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
with stocks like this<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m not ex i’m not expecting it to be to<\/div>\n<\/div>\n<\/div>\n
\n
\n
have some crazy volume unless there’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
news<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and the stock is showing you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
great strength<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the first half an hour to an hour<\/div>\n<\/div>\n<\/div>\n
\n
\n
staying above that plus one standard<\/div>\n<\/div>\n<\/div>\n
\n
\n
deviation line<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i want to see a slope of you up and<\/div>\n<\/div>\n<\/div>\n
\n
\n
that means that there’s a lot of volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
being done above you up um and then you<\/div>\n<\/div>\n<\/div>\n
\n
\n
know<\/div>\n<\/div>\n<\/div>\n
\n
\n
buyers are really looking to take<\/div>\n<\/div>\n<\/div>\n
\n
\n
control um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and what i’ll show now on the tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’ll see here jp morgan<\/div>\n<\/div>\n<\/div>\n
\n
\n
is what i’m looking for at this level<\/div>\n<\/div>\n<\/div>\n
\n
\n
right at this 158.80<\/div>\n<\/div>\n<\/div>\n
\n
\n
is not some first of all i want to see<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
bidders stepping up but i don’t want to<\/div>\n<\/div>\n<\/div>\n
\n
\n
see like a crazy spike immediately<\/div>\n<\/div>\n<\/div>\n
\n
\n
and say once it reaches v up that<\/div>\n<\/div>\n<\/div>\n
\n
\n
immediately spikes<\/div>\n<\/div>\n<\/div>\n
\n
\n
um because that shows me that you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe it’s not ready to hold this level<\/div>\n<\/div>\n<\/div>\n
\n
\n
um it doesn’t matter on how far the<\/div>\n<\/div>\n<\/div>\n
\n
\n
spike is or how i know how big the spike<\/div>\n<\/div>\n<\/div>\n
\n
\n
is<\/div>\n<\/div>\n<\/div>\n
\n
\n
but um i want to see there to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
gradually buying as opposed to quick<\/div>\n<\/div>\n<\/div>\n
\n
\n
quick buy in this case um and so<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m looking for 150 80 to hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
we it’s it’s a fairly slow one so i can<\/div>\n<\/div>\n<\/div>\n
\n
\n
i can speed this up<\/div>\n<\/div>\n<\/div>\n
\n
\n
um but<\/div>\n<\/div>\n<\/div>\n
\n
\n
what i’m looking for is gradual<\/div>\n<\/div>\n<\/div>\n
\n
\n
accumulation above this level uh because<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m bearing in mind like the high<\/div>\n<\/div>\n<\/div>\n
\n
\n
institutional ownership<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and you know where the market’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
positioned i’m not looking for some<\/div>\n<\/div>\n<\/div>\n
\n
\n
crazy spike this is very much a trade to<\/div>\n<\/div>\n<\/div>\n
\n
\n
hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh versus the move to move and that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
something i’ve been working on is<\/div>\n<\/div>\n<\/div>\n
\n
\n
really trying to distinguish between the<\/div>\n<\/div>\n<\/div>\n
\n
\n
two um<\/div>\n<\/div>\n<\/div>\n
\n
\n
because that that’ll help you position<\/div>\n<\/div>\n<\/div>\n
\n
\n
yourself better for the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
so what we saw here was the 158 is<\/div>\n<\/div>\n<\/div>\n
\n
\n
holding up 150<\/div>\n<\/div>\n<\/div>\n
\n
\n
88 is holding up um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then 159 bitterster<\/div>\n<\/div>\n<\/div>\n
\n
\n
um and then it’s gradual it’s not i know<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is on 2x now but it’s gradual<\/div>\n<\/div>\n<\/div>\n
\n
\n
um it’s not some crazy it’s not some<\/div>\n<\/div>\n<\/div>\n
\n
\n
crazy move say to 160 and<\/div>\n<\/div>\n<\/div>\n
\n
\n
because for me it’s too sharp of a move<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m looking to hold this for<\/div>\n<\/div>\n<\/div>\n
\n
\n
longer and i think a lot of people who<\/div>\n<\/div>\n<\/div>\n
\n
\n
would be buying at vr might have<\/div>\n<\/div>\n<\/div>\n
\n
\n
taken profits like i would have um at<\/div>\n<\/div>\n<\/div>\n
\n
\n
that point<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so could we can we just watch that<\/div>\n<\/div>\n<\/div>\n
\n
\n
again from the move into v web to when<\/div>\n<\/div>\n<\/div>\n
\n
\n
it when it shot up<\/div>\n<\/div>\n<\/div>\n
\n
\n
150 880 dips quickly dips below 80.<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly dips and then you enter your<\/div>\n<\/div>\n<\/div>\n
\n
\n
long<\/div>\n<\/div>\n<\/div>\n
\n
\n
i entered my lawn and then i’m looking<\/div>\n<\/div>\n<\/div>\n
\n
\n
for 159 to a nice break to 159 which we<\/div>\n<\/div>\n<\/div>\n
\n
\n
got here<\/div>\n<\/div>\n<\/div>\n
\n
\n
and it really showed it showed that 159<\/div>\n<\/div>\n<\/div>\n
\n
\n
was not an important level<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that they were not sellers at this<\/div>\n<\/div>\n<\/div>\n
\n
\n
point so i was happy about that<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you’re at this point you’re about 40<\/div>\n<\/div>\n<\/div>\n
\n
\n
cents<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the money seconds later right<\/div>\n<\/div>\n<\/div>\n
\n
\n
you entered in at vwab and there was<\/div>\n<\/div>\n<\/div>\n
\n
\n
strong demand at vwab people<\/div>\n<\/div>\n<\/div>\n
\n
\n
traders institutions whoever<\/div>\n<\/div>\n<\/div>\n
\n
\n
um they were waiting for that dip to buy<\/div>\n<\/div>\n<\/div>\n
\n
\n
and as soon as it got there they bit it<\/div>\n<\/div>\n<\/div>\n
\n
\n
right up<\/div>\n<\/div>\n<\/div>\n
\n
\n
absolutely yeah and did i hear you say<\/div>\n<\/div>\n<\/div>\n
\n
\n
on a couple slides before this that you<\/div>\n<\/div>\n<\/div>\n
\n
\n
took some off into this move<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah so i’m i’m not sure if i have it on<\/div>\n<\/div>\n<\/div>\n
\n
\n
this tape but it’s it’s just around this<\/div>\n<\/div>\n<\/div>\n
\n
\n
so this is priority’s view up here<\/div>\n<\/div>\n<\/div>\n
\n
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um i took some off into this move and<\/div>\n<\/div>\n<\/div>\n
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you know like we discussed it really<\/div>\n<\/div>\n<\/div>\n
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didn’t make sense<\/div>\n<\/div>\n<\/div>\n
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because like you mentioned there it<\/div>\n<\/div>\n<\/div>\n
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really like people<\/div>\n<\/div>\n<\/div>\n
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were really buying this like there was<\/div>\n<\/div>\n<\/div>\n
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an immediate respect<\/div>\n<\/div>\n<\/div>\n
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of the view upline and that’s what i’m<\/div>\n<\/div>\n<\/div>\n
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ultimately looking for<\/div>\n<\/div>\n<\/div>\n
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and selling in selling into strength<\/div>\n<\/div>\n<\/div>\n
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doesn’t make sense<\/div>\n<\/div>\n<\/div>\n
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and given where we are on a more broader<\/div>\n<\/div>\n<\/div>\n
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context in a<\/div>\n<\/div>\n<\/div>\n
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like five day five minutes um we’re just<\/div>\n<\/div>\n<\/div>\n
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about to approach that<\/div>\n<\/div>\n<\/div>\n
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that high so um and i forgot you know in<\/div>\n<\/div>\n<\/div>\n
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time this is where<\/div>\n<\/div>\n<\/div>\n
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talking to myself in real time um is<\/div>\n<\/div>\n<\/div>\n
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essential<\/div>\n<\/div>\n<\/div>\n
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um it was a trade to hold this was not a<\/div>\n<\/div>\n<\/div>\n
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move to move i was looking to hold this<\/div>\n<\/div>\n<\/div>\n
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for the rest of the day<\/div>\n<\/div>\n<\/div>\n
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so it didn’t make sense but but how much<\/div>\n<\/div>\n<\/div>\n
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did you<\/div>\n<\/div>\n<\/div>\n
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how much did you sell i see that you’re<\/div>\n<\/div>\n<\/div>\n
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long there<\/div>\n<\/div>\n<\/div>\n
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so i i sold half um i sold half into<\/div>\n<\/div>\n<\/div>\n
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this move<\/div>\n<\/div>\n<\/div>\n
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i think i might i’m not sure if i got it<\/div>\n<\/div>\n<\/div>\n
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on this video but i sold yeah i sold<\/div>\n<\/div>\n<\/div>\n
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half into this move<\/div>\n<\/div>\n<\/div>\n
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and then i let the the other red the<\/div>\n<\/div>\n<\/div>\n
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other half uh ryden<\/div>\n<\/div>\n<\/div>\n
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and then i added position and once we<\/div>\n<\/div>\n<\/div>\n
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got strength later on the day<\/div>\n<\/div>\n<\/div>\n
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but you know like you saw yourself like<\/div>\n<\/div>\n<\/div>\n
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now it’s testing the 150 950<\/div>\n<\/div>\n<\/div>\n
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and it doesn’t have that same respect<\/div>\n<\/div>\n<\/div>\n
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uh or sorry the same drive through one<\/div>\n<\/div>\n<\/div>\n
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oh 159.50 as we did at say 159.<\/div>\n<\/div>\n<\/div>\n
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um so i think i think you know<\/div>\n<\/div>\n<\/div>\n
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i really have to really have to be more<\/div>\n<\/div>\n<\/div>\n
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um be more uh<\/div>\n<\/div>\n<\/div>\n
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or sorry have a better idea of where<\/div>\n<\/div>\n<\/div>\n
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exactly i’m looking<\/div>\n<\/div>\n<\/div>\n
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or how long i’m exactly i’m looking to<\/div>\n<\/div>\n<\/div>\n
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hold this trade for<\/div>\n<\/div>\n<\/div>\n
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um because i got i got faked out in a<\/div>\n<\/div>\n<\/div>\n
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sec because once it didn’t break this<\/div>\n<\/div>\n<\/div>\n
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150 950<\/div>\n<\/div>\n<\/div>\n
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that’s when i when i took half off so<\/div>\n<\/div>\n<\/div>\n
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this is just my opinion<\/div>\n<\/div>\n<\/div>\n
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sure but i think that you’re being a<\/div>\n<\/div>\n<\/div>\n
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little hard on yourself about this sale<\/div>\n<\/div>\n<\/div>\n
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um your entry was excellent<\/div>\n<\/div>\n<\/div>\n
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you recognized how fast it was bid right<\/div>\n<\/div>\n<\/div>\n
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back<\/div>\n<\/div>\n<\/div>\n
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up after it tagged v whap and<\/div>\n<\/div>\n<\/div>\n
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what seems like just a couple minutes<\/div>\n<\/div>\n<\/div>\n
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later<\/div>\n<\/div>\n<\/div>\n
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you are 70s almost<\/div>\n<\/div>\n<\/div>\n
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70 cents in the money um<\/div>\n<\/div>\n<\/div>\n
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i think that you even though this is a<\/div>\n<\/div>\n<\/div>\n
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\n
trade to hold you deserve to pay<\/div>\n<\/div>\n<\/div>\n
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yourself for that<\/div>\n<\/div>\n<\/div>\n
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that is an excellent trade and you were<\/div>\n<\/div>\n<\/div>\n
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right<\/div>\n<\/div>\n<\/div>\n
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um you did i think that you did take a<\/div>\n<\/div>\n<\/div>\n
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little bit<\/div>\n<\/div>\n<\/div>\n
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too much of the position off yeah maybe<\/div>\n<\/div>\n<\/div>\n
\n
\n
take 20 off and then<\/div>\n<\/div>\n<\/div>\n
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once you take off 20 you almost<\/div>\n<\/div>\n<\/div>\n
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\n
have a free trade there you were<\/div>\n<\/div>\n<\/div>\n
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very right the execution was excellent<\/div>\n<\/div>\n<\/div>\n
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\n
you’re right on the trade you recognize<\/div>\n<\/div>\n<\/div>\n
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what was going on on the tape you’re 70<\/div>\n<\/div>\n<\/div>\n
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cents in the money just a couple minutes<\/div>\n<\/div>\n<\/div>\n
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later<\/div>\n<\/div>\n<\/div>\n
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you deserve to get paid for that um and<\/div>\n<\/div>\n<\/div>\n
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in doing so<\/div>\n<\/div>\n<\/div>\n
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and doing so and taking 20 off you also<\/div>\n<\/div>\n<\/div>\n
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now have a cushion<\/div>\n<\/div>\n<\/div>\n
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\n
and the trade becomes a little less<\/div>\n<\/div>\n<\/div>\n
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\n
stressful which could make all the<\/div>\n<\/div>\n<\/div>\n
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difference<\/div>\n<\/div>\n<\/div>\n
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uh for a trade to hold that’s yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a great point i think<\/div>\n<\/div>\n<\/div>\n
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i think you’re right there the issue is<\/div>\n<\/div>\n<\/div>\n
\n
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i took off too much<\/div>\n<\/div>\n<\/div>\n
\n
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too soon right that’s that’s the<\/div>\n<\/div>\n<\/div>\n
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criticism i have about that okay i<\/div>\n<\/div>\n<\/div>\n
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appreciate that<\/div>\n<\/div>\n<\/div>\n
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um and so wrapping it up the trade<\/div>\n<\/div>\n<\/div>\n
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review<\/div>\n<\/div>\n<\/div>\n
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and approach trading general so what did<\/div>\n<\/div>\n<\/div>\n
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i learn from this trade<\/div>\n<\/div>\n<\/div>\n
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um knowing the variables of enable setup<\/div>\n<\/div>\n<\/div>\n
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that place your strengths will make it<\/div>\n<\/div>\n<\/div>\n
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easier to identify great trades<\/div>\n<\/div>\n<\/div>\n
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and reduce the urge to over trade um and<\/div>\n<\/div>\n<\/div>\n
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creating a book of charts and constantly<\/div>\n<\/div>\n<\/div>\n
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reviewing these setups is essential<\/div>\n<\/div>\n<\/div>\n
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you know there’s only so much trade you<\/div>\n<\/div>\n<\/div>\n
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know the most of the work is done<\/div>\n<\/div>\n<\/div>\n
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um after hours or when you’re not<\/div>\n<\/div>\n<\/div>\n
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actually<\/div>\n<\/div>\n<\/div>\n
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making the trade because the trading<\/div>\n<\/div>\n<\/div>\n
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itself should be it should be the easy<\/div>\n<\/div>\n<\/div>\n
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uh should be the easy part<\/div>\n<\/div>\n<\/div>\n
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um and then you know talking with<\/div>\n<\/div>\n<\/div>\n
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traders in real time<\/div>\n<\/div>\n<\/div>\n
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ensures accountability and allows you to<\/div>\n<\/div>\n<\/div>\n
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build or me to build a better picture<\/div>\n<\/div>\n<\/div>\n
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of how to trade how the trade might play<\/div>\n<\/div>\n<\/div>\n
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out like you would talk about justin<\/div>\n<\/div>\n<\/div>\n
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like<\/div>\n<\/div>\n<\/div>\n
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having that context in mind in real time<\/div>\n<\/div>\n<\/div>\n
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is the essential bit<\/div>\n<\/div>\n<\/div>\n
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um because i had an idea of you know<\/div>\n<\/div>\n<\/div>\n
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where xlf<\/div>\n<\/div>\n<\/div>\n
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was the financials jb morgan’s earnings<\/div>\n<\/div>\n<\/div>\n
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and such but i wasn’t thinking about it<\/div>\n<\/div>\n<\/div>\n
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that in real time and i was i was<\/div>\n<\/div>\n<\/div>\n
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i was just very much focused on on the<\/div>\n<\/div>\n<\/div>\n
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entries and such which i guess<\/div>\n<\/div>\n<\/div>\n
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you have to too but um having that<\/div>\n<\/div>\n<\/div>\n
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context is essential nonetheless<\/div>\n<\/div>\n<\/div>\n
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but ultimately it’s keeping it simple<\/div>\n<\/div>\n<\/div>\n
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you know playing your strengths and<\/div>\n<\/div>\n<\/div>\n
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having a very clearly defined plan<\/div>\n<\/div>\n<\/div>\n
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and these are the best approaches that i<\/div>\n<\/div>\n<\/div>\n
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found to combat over trading<\/div>\n<\/div>\n<\/div>\n
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and we you know we discussed um how we<\/div>\n<\/div>\n<\/div>\n
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could have done better but you know<\/div>\n<\/div>\n<\/div>\n
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sticking to the initial plan<\/div>\n<\/div>\n<\/div>\n
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and taking only a fifth as opposed to a<\/div>\n<\/div>\n<\/div>\n
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half off<\/div>\n<\/div>\n<\/div>\n
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and paying myself that would have made a<\/div>\n<\/div>\n<\/div>\n
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lot more sense<\/div>\n<\/div>\n<\/div>\n
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um and instead of and this is something<\/div>\n<\/div>\n<\/div>\n
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i found instead of using say a one<\/div>\n<\/div>\n<\/div>\n
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minute chart all day especially if it’s<\/div>\n<\/div>\n<\/div>\n
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for a trade to hold<\/div>\n<\/div>\n<\/div>\n
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it would probably make more sense for me<\/div>\n<\/div>\n<\/div>\n
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to use you know a one-minute chart when<\/div>\n<\/div>\n<\/div>\n
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i’m looking to enter and exit a trade<\/div>\n<\/div>\n<\/div>\n
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and maybe a five minute<\/div>\n<\/div>\n<\/div>\n
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\n
and when i’m not entering or exiting i’d<\/div>\n<\/div>\n<\/div>\n
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\n
be curious to hear your thoughts on that<\/div>\n<\/div>\n<\/div>\n
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justin<\/div>\n<\/div>\n<\/div>\n
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when i am trading intraday uh to my<\/div>\n<\/div>\n<\/div>\n
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right here i have a screen<\/div>\n<\/div>\n<\/div>\n
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with five tickers and each of those<\/div>\n<\/div>\n<\/div>\n
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tickers has a one<\/div>\n<\/div>\n<\/div>\n
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five and a fifteen minute chart to go<\/div>\n<\/div>\n<\/div>\n
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with it<\/div>\n<\/div>\n<\/div>\n
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um and if i’m in a trade to hold or<\/div>\n<\/div>\n<\/div>\n
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something that i do think is a trade to<\/div>\n<\/div>\n<\/div>\n
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hold<\/div>\n<\/div>\n<\/div>\n
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um you know for the execution<\/div>\n<\/div>\n<\/div>\n
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it’s always done on a one minute sure<\/div>\n<\/div>\n<\/div>\n
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\n
but<\/div>\n<\/div>\n<\/div>\n
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once it starts to work um i’m looking at<\/div>\n<\/div>\n<\/div>\n
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a five minute 15 minute uh and a 30<\/div>\n<\/div>\n<\/div>\n
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minute<\/div>\n<\/div>\n<\/div>\n
\n
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um and i took a quick look at<\/div>\n<\/div>\n<\/div>\n
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how jp morgan traded on this day<\/div>\n<\/div>\n<\/div>\n
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um and i was looking at the five<\/div>\n<\/div>\n<\/div>\n
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minute um and i know you talked about<\/div>\n<\/div>\n<\/div>\n
\n
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getting a little better at trend<\/div>\n<\/div>\n<\/div>\n
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following um<\/div>\n<\/div>\n<\/div>\n
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something that i noticed and an<\/div>\n<\/div>\n<\/div>\n
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\n
indicator that i like to use i know you<\/div>\n<\/div>\n<\/div>\n
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talked a lot about<\/div>\n<\/div>\n<\/div>\n
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standard deviation um but i think it’s<\/div>\n<\/div>\n<\/div>\n
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important to<\/div>\n<\/div>\n<\/div>\n
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incorporate um a couple more indicators<\/div>\n<\/div>\n<\/div>\n
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to use<\/div>\n<\/div>\n<\/div>\n
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um something that i like to use for my<\/div>\n<\/div>\n<\/div>\n
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swing trades is a 9 and 21 ema<\/div>\n<\/div>\n<\/div>\n
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um and found that those can be very<\/div>\n<\/div>\n<\/div>\n
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helpful<\/div>\n<\/div>\n<\/div>\n
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\n
on a five-minute chart uh especially for<\/div>\n<\/div>\n<\/div>\n
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trend following once the stock is<\/div>\n<\/div>\n<\/div>\n
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trending um and something i noticed<\/div>\n<\/div>\n<\/div>\n
\n
\n
is that on this day on the seventh<\/div>\n<\/div>\n<\/div>\n
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\n
jp morgan never<\/div>\n<\/div>\n<\/div>\n
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\n
closed below the 21 ema on the five<\/div>\n<\/div>\n<\/div>\n
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minute<\/div>\n<\/div>\n<\/div>\n
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um there was a point where it dipped<\/div>\n<\/div>\n<\/div>\n
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into it<\/div>\n<\/div>\n<\/div>\n
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uh dipped below it but it ended up being<\/div>\n<\/div>\n<\/div>\n
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a wick once the five minute candle<\/div>\n<\/div>\n<\/div>\n
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closed<\/div>\n<\/div>\n<\/div>\n
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um and that is very bullish so<\/div>\n<\/div>\n<\/div>\n
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um i would challenge you to<\/div>\n<\/div>\n<\/div>\n
\n
\n
look at a 9 and 21 ema on a 5 minute<\/div>\n<\/div>\n<\/div>\n
\n
\n
maybe something there makes sense to you<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh next time you’re in a trade to hold<\/div>\n<\/div>\n<\/div>\n
\n
\n
absolutely thank you um so yeah that<\/div>\n<\/div>\n<\/div>\n
\n
\n
that concludes my presentation<\/div>\n<\/div>\n<\/div>\n
\n
\n
um thank you thank you very much for<\/div>\n<\/div>\n<\/div>\n
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your help in that justin um and yeah<\/div>\n<\/div>\n<\/div>\n
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that’s that’s all<\/div>\n<\/div>\n<\/div>\n
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just another uh thought um when you’re<\/div>\n<\/div>\n<\/div>\n
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trading<\/div>\n<\/div>\n<\/div>\n
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\n
at jp morgan i i we talked about this i<\/div>\n<\/div>\n<\/div>\n
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do think it’s very important that you<\/div>\n<\/div>\n<\/div>\n
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have up the spy<\/div>\n<\/div>\n<\/div>\n
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and you have up xlf just to get a<\/div>\n<\/div>\n<\/div>\n
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general idea of what the rest of the<\/div>\n<\/div>\n<\/div>\n
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banks are doing<\/div>\n<\/div>\n<\/div>\n
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and um just pay attention to the market<\/div>\n<\/div>\n<\/div>\n
\n
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because on this day<\/div>\n<\/div>\n<\/div>\n
\n
\n
jp morgan um was doing an arvol of one<\/div>\n<\/div>\n<\/div>\n
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which really um is that elevated<\/div>\n<\/div>\n<\/div>\n
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you know right now there are probably<\/div>\n<\/div>\n<\/div>\n
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hundreds and hundreds of stocks with an<\/div>\n<\/div>\n<\/div>\n
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oval of one<\/div>\n<\/div>\n<\/div>\n
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um so the way jp morgan<\/div>\n<\/div>\n<\/div>\n
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um is trading it’s going to be very<\/div>\n<\/div>\n<\/div>\n
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\n
reliant on how the overall market is<\/div>\n<\/div>\n<\/div>\n
\n
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trading as well<\/div>\n<\/div>\n<\/div>\n
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um so it’s just something to keep in<\/div>\n<\/div>\n<\/div>\n
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mind<\/div>\n<\/div>\n<\/div>\n
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hey go ahead and click our subscribe<\/div>\n<\/div>\n<\/div>\n
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button so you don’t miss any of the<\/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<\/div>\n<\/div>\n<\/div>\n
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for what videos you’d like for us to<\/div>\n<\/div>\n<\/div>\n
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produce next and what you found helpful<\/div>\n<\/div>\n<\/div>\n
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from this video<\/div>\n<\/div>\n<\/div>\n
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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 SMB Trader Justin offers feedback to an intern on a trade made in JPM. They discuss an issue this new trader faces which every trader encounters in their career – overtrading. Justin shares his rules for overtrading and what has worked for him. * no relevant positions<\/p>\n","protected":false},"author":290,"featured_media":51225,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-51223","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nEvery Trader Faces THIS Issue (how to overcome it) | 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\/every-trader-faces-this-issue-how-to-overcome-it\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Every Trader Faces THIS Issue (how to overcome it) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In this video SMB Trader Justin offers feedback to an intern on a trade made in JPM. 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