A tad slower than normal this week. Price alerts were a huge help this week as names were moving without many eyes on them. I spoke to several new traders this week and each one asked what is the secret to trading. There are no crystal balls and no magic indicators. The secret is risk management. If you have two trades for the day and you make $100 in profit on one and lose $20 on the second, you had a great day while only having a 50/50 win ratio. Don’t get involved with trades that you can’t find a risk area or that would risk killing days or weeks of profitable trades.
Blog sale this week is a quarterly IU membership for $597. http://investorsunderground.com/s/tbKOI/
Nate brought up that there was a possibility that some warrants could be converted right at the top level and then went into deeper detail during the morning broadcast.
Nate called out the second exhaustion levels on this for members that didn’t catch it the first time.
Emil shared his plan to short AMD after the initial run up after the open.
You can see in the last few charts how the trend changed around 30 minutes after the open.
Friday Morning Broadcast
Have a great weekend.