Please write questions for webinar tonight in the comment section below.
Please remember we assume all trades are familiar with Textbook Trading and Tandem Trading education videos (I understand that not ALL can get them – with that said at MINIMUM you’re familiar with the new members page, how we trade and all basics that are on that page) as we will not waste time with “What is SSR, What is ABCD pattern” etc in the webinar when everyone else has already taken the first step forwarded and learned this!
We’ll do regular open Q and A in the chat room
If this is your first time attending just show up in the room at 7:50PM and I’ll have the webinar code for you !! Momentum chat room as always (main trading room)
Thanks !!
Nate
When shorting and trying to fill big size: If you are trying to hit the top, let’s say at an obvious magnet, what is the best way to fill large positions? Do you generally leave bigger size in one offer or are you chopping up the size and limiting at different offers (assuming its a blatant top)? -Dale
How do you identify bounce plays?
Regarding big pullbacks, when a stock has a huge up day, or has been running for days, how can you tell the day before (if you can) when you think it has one more green day versus when it’s tired and will open up red and pull hard? I’m thinking about ICLD and DGLY this week. On Mon afternoon, I thought both had one more day of running based on their daily and multiday charts. Both times, I was wrong. I know it’s safer to wait until the next morning, but since many of these open up 20%, it would be great to capture some of these o/n gains if possible.
PTBI was a crazy play today. if a stock is up over 55% premarket, what signals are you looking for to go long on it? as it starts to climb, what are the signals you’re looking for for a trend reversal? final question is is how did modern rock identify the top so correctly and play that side of the move?
i know float rotation is covered in the DVDs but what significance is there when the stock trades multiple times its float rotation, what signals is this giving you?
PTBI was a crazy play today. if a stock is up over 55% premarket, what signals are you looking for to go long on it? as it starts to climb, what are the signals you’re looking for for a trend reversal? final question is is how did modern rock identify the top so correctly and play that side of the move?
i know float rotation is covered in the DVDs but what significance is there when the stock trades multiple times its float rotation, what signals is this giving you? thanks
When the CRM / MSFT news hit I was watching MSFT and on the top of the spike I send a market order to short. It filled a minute later on the next candle at a bad price. How should I have sent the order? Cost me .75 of the move.
Thanks
Can you explain the methodology/platform used for boxing a position? Some brokers allows it, others don’t. DO you have a list of brokers that allows to box a position? Suretrader confirmed that the don’t do it.
Are there other risks besides the one that arises when the broker wants shorted stocks back?
How do you set a price target to get out – for high volume stocks – like PTBI or ICLD – especially if you’re not watching the market all day. I got out of ICLD way to early to protect the downside – stuck it out with PTBI – but gave some away on the upside – is it just trial and error and practice – knowing that the stock is going to pop
When you tell us to trade around a “core” are you referring to keeping a portion of our stock while scaling out (if we had a good average) and letting the trade play out?
What are you looking for when you find that point of equilibrium when there are more sellers then buyers or vise versa when taking a position long or short. I am having trouble finding that higher low or lower high for the entry. In reference to your bio on famous day traders do you use the 3 candle reference? https://www.famousdaytraders.com/images/1/19/BLUE_10-15-2014.png
And also for reference on Derrick’s GLUU trade last week and PTBI today he literally top ticked every short and bottom ticked the long. Phenomenal trade. Well done Derrick. In hindsight its easy for me to look back after the trading day and see my entries but during the day I am never so sure that the higher low has happened.
any advice on reading between the lines of the news to interpret the effect of move on the stocks. What seems like a straightforward reason for a move most of the time doesn’t go accordingly.
1. Is RSI relevant for your style of trading? As a new trader, it seems like the direction of the RSI line is a good predictor of the short term trend, and that it will often peak around 70 for a few minutes before the price and RSI go back down (and vice versa on the downside at 30 before bouncing back up). Usually when it reaches the 70 range it’s too late to enter the trade, but in cases of breakouts and uptrends it often contradicts the usual rule of not spending a long time above ~70, and will stay up there for quite a while. Basically, how useful is RSI as a guide, and when should it be ignored?
2. I’m trying to follow the concept of ‘trade the ticker, not the company’, but it seems like promotional/pumped stocks don’t follow the same ‘common’ rules of price movement as a company that is normal (not a pumped stock), and instead can be more random (ie: levels of support and resistance aren’t as reliable). Do you treat these two companies (a pump, and a ‘non-pump’) the exact same way when considering a trade?
Today DerrickJL mentioned he was looking for a volume spike in the 1min chart of 500k plus before he looked to get short (Referring to PTBI). What is the significance of a large 1min volume bar, and why is it a good sign to potentially get short? Do any other time frame volume bars work for this as well, or is it primarily just the 1min bar.