There will be another video later – a recap and details about trades, with broker confirms. We’re trying to get you to believe in yourselves. This can be done, and with a total risk control orientation. And I still have my long position in NXTD from $2.20 – trying to hold it into the close, so no daytrade “penalty”.
7/2 Update: The updated trade confirm is below for Thursday anf Friday trading. Three trades are there, but only one daytrade. I held onto the NXTD trade overnight, so as not to have another daytrade, just as anyone with smaller accounts has to deal with. It makes trading tougher, but once again I want to show that even with many obstacles, you can be a winner in markets.
Update: I decided to just use this video, the explanations about the trades are in there already. When I started trading (horribly and pathetically) many moons ago, it was important for me to see and “feel” that some people were doing pretty well at this. Whether you learn it with us, or somewhere else, you first have to learn how to survive in this business. It’s always a struggle, no matter how long we’re doing markets. And please can the idea that all you need is the great method. That’s crap. A good method is important, but not nearly as important as trading skills. Who teaches this?
My partner and I are trading small sizes for a simple reason. She has a recent post here.That is to get people motivated, so as not to assume you can’t make a go at this, even with smaller accounts. You may want to use some margin at times, but..I never use margin when trading small stocks. However, trading different ETFs, someone may want to up the leverage to put some “juice” into their trades. Lastly, I held the other long position in NXTD (1000 at 2.20) which was discussed in the video. It traded up to 3.55 in AH, and normally might have sold it into the rally, but keeping in mind daytrading “rules”, I held it. We’ll see. And the thing to realize, I’m running this website now, and putting a lot of time into it. My trade-timing has suffered, but the profits are still there. There is no perfection in this business, I make mistakes, but always work hard. The confirm is below with the video:
So now RAD gets a 5.5 B offers and keeps half thier stores, sounds good on paper…
Nothing but negative stories today. So sentiment-wise a big plus. Emotional comments.
It is amazing to see how much some of these companies climbed out of the bargain bin in 2008.
Good lesson.
Hey Scott got a couple questions on charting skills.
https://www.tradingview.com/x/JgZOfHRV/
A)The bounces are getting less explosive(smaller) as the price drops. What does that means? what can we learn from this?
B) From the glossary of terms in the old site, there are terms that either I don’t know or seek a greater understanding. Terms like “Creek and Dead Center” .If you can explain in a video those concepts will be helpful.
C)Regarding the terms “Shakeout Ordinary and Terminal Shakeout” , can you also demonstrate some examples on a video as well?
there are more but I may focus on them later. Thanks man.
I was getting bullish following it down – notice the volume abating along with the volatility – supply was drying up. It means, to me, one more shot back towards the high, and I’ll try to take my chunk. And I updated the trade confirms for those trades – they are in the post.
B and C) Yes I will, I put them on the list. And think of the creek as to why a resistance area (and support) is an area, not a specific point. And terminal vs ordinary – very tricky in real time.