Nice job today – wild week!
As always just log into the room and I’ll have the code ready to go!
8PM EST TONIGHT!
I’ll be doing a webinar tonight (I’m taking 16-23rd as a mini vaca I’ll trade the opens most days but going to get some sun).
On NEXT Tuesday Cody aka @OddStockTrader will be taking the mic working with NEW MEMBERS – this will be geared towards the questions you’re afraid to ask, you don’t want to ask or you feel stupid asking. YES. THOSE. He’s your man. I’ve been talking to him for a while I told him I need someone that gets what I do to help the new new new members so that we can continue good conversation as we always do in MY webinars.
I’ll have all details for that soon.
TONIGHT – post questions below! Trading this market has been wild – tough for some, amazing for others. What’s working? What’s not.
Can you share your thought process today regarding KMI. At 10:41 you started looking to short pops. It was clearly a good call, but I had previously missed entries on this ticker, and by this point was avoiding chasing it down. I know stocks can always go down further, but what made you think this was a good entry and not a chase (oil prices)?
Do you think your trading style works in other markets, or do you only mainly focus on equities because it is what works with your momo style? I remember you saying in another webinar that you didn’t trade the futures or FX because you have a life which makes sense, but do you think I could take some of the lessons learned from here and apply them in futures or FX? Thanks Nate
what kind of trades and what time of the day should new guys in the room try to focus on.
I am trying to get better at determining whether there is a change of trend and doing so quickly. I was looking at the SPY on 1/11/16 as it was trending down from about 12:00 PM EST. I was looking for a higher low to find a trend change. Would you be looking for the same to determine a trend change? I thought I saw a higher low at 12:33, 13:02/13:03, but I was wrong there. Was it reasonable that I thought those might be higher lows at the time? Or, am I making too much of potential blips in the chart?
Could you walk us through your thought process if you were watching the same chart? How would you spot a change in the trend? Where would you have seen it on this chart and why? What would have been the initial confirmation that you right? (This all seems obvious in hindsight, but it’s difficult in the moment so I want to know more about your thought process as it is would have been happening. Also, I won’t be able to make it to the webinar, but will see the video. Thank you!)
Can you post a chart so we can go over it
Have you any advice with regard to sizing in and out for really small accounts. I understand that commission is the cost of doing business. But I am only trading 100/200 shares at a time as I learn my trade in order to limit risk exposure. Does it make sense to size in and out for such small size or is it just ridiculous to trade this small to begin with? Note: I’m trading for experience and happy with small gains/losses – I can afford to lose money but prefer not to blow through funds and am therefore keeping sizes small
Can you discuss reactive trades on Halts; do you look for trade set- ups similar to morning emotion when a stock re-opens after halt (Washouts/Paras but quick exits)? And if your caught in a halt then it re-opens what then?
What advice do you have for beginners like myself after blowing up their first account…I am a college student that started with 3k over my winter break and got wiped out in just under a month. I caught myself often making 30+ trades in a single morning which is absolutely ridiculous given how small my account was. The ambitious side of me wants to refund my account and keep trading part time during school, but the more intelligent side of me is saying to take a step back, rationalize my thoughts, re-watch all your videos, speculate the markets, and come back in a couple months with a new and deeper perspective on trading…thoughts?
Is 3k a good starting point to trade as a newby or would you recommend a little more size?
How crucial is level 2 in your trading strategy? Is it a must for a top level trader or can you get away with visually inspecting resistance/support rejection?
Do you ever use stop orders to minimize losses during trend reversals when your not available to execute manually?
Best,
Nico
Can you give us a brief synopsis of what VWAP is? That is an indicator I have never heard of before. What does it signify? How do you use it? And what scenarios is it the most helpful?
Is VWAP unique to the trading platform you use?
i know we talked about this a little in chat but i wanted to ask here for more clarification. on HTWR btwn 11:30 – 12:30pm the stock flat lined bouncing off the support level. do you short the top of the pops anticipating a break in support or short as its breaking support with volume or simply wait for it to bounce into the now resistance line and short those pops. Also, in your experience whats the difference in behavior when this type of support line is above or below VWAP and support line vs resistance line. Thanks!
HI Nathan..when u have a stock on ssr and close red…is it better to
wait for a “squeeze” the day after before enter? ex. MEET or AVXL today
closed red on ssr.
can you talk about how to approach this with small cash accounts restricted to long positions (and no multiple entries)? thx