Please post questions below!
As always show up 6:20PM EST
Questions in the comment section — please remember you should be familiar with both DVDs or at least the new member page I don’t want to waste time of those whom already did so!
Market is nuts right now, this is when most blow ups happen … let’s discuss preventing it and staying SAFE !!
If history repeats itself many of the traders we’ve seen on twitter, the room etc will say “eh, no time to trade anymore” and make excuses as to why they can’t be present but the reality is … times are “tough” … tough because we have to adapt and if we don’t we run into some dumb trades. Myself included.
I’ve been on my toes a lot lately trading small and not pushing size because I haven’t been running super hot, although I’ve nailed a LARGE % of the trades lately 70-90% I’ve still been being dumb with one or two avoidable trades (the 10-30% of losers). Preventable.
It’s all about adapting.
Being open to new types of trades.
Not trading at times.
Being happy with what the trade gives.
See you at 630PM!
A few scans ago you mentioned stocks being “Friendly Traders” can you elaborate on what you mean by that? I’m guessing they stick to a trend and have low volatility.
Thanks,
Hi Nate, Ive traded live almost a year now and I see a trend where I am sticking to my winners and letting them run but I am taking twice as many losers in the process… In the end my profit factor is about 1.8 (winner $/loser $) but I end up netting negative since my losers just outnumber my winners by twice as much, on top of that fees, commissions add up as well.. Any tips would be helpful! Thanks
Bear with me here… I spent about 20 mins trying to figure out how to properly word this question.
If a stock is consolidating, lets say for example 9.80-9.90. Generally a lower low would be implying bearish and generally a higher high would be implying bullish, correct? What would it imply if lets say the stock perks out of its consolidation with a higher high but at the same time also has a lower low? For example, perks up to 9.92 but at the same time, on the next candle or two, it dips down to 9.78 as well, giving a higher high and a lower low… and seems to resume its consolidation. Does that imply anything in regards to direction it plans to take out of the consolidation? I saw that happen a few times today and it kind of threw me off my game/read.
How do you personally handle a situation where if you are short on a stock with a risk set at $55.50 for example… How do you handle the situation if it instantly takes a huge 1 minute spike up to about 55.90 … do you rush to cover right there as fast as you can at 55.90+, or do you try to wait for it to pull back a little closer to your initial risk? I’m just curious because I’ve experience alot of times where the stock shoots past my risk.. leaving me with a bigger risk than I initially wanted to take… sometimes it comes back to where I can take a smaller loss … but sometimes it just keeps going… I’m just curious how you personally handle a situation like that?