Stevie Swai
If there is one trade to learn and master, it is a ‘spring’. Trader Scott has talked about them over and over and they can certainly be useful to build an account quickly. I traded a spring today in DVBT for a 14% profit. The video includes why and how I chose this particular stock to trade; how I chose my entry point; and why I got out where I did.
Hi!
Why do you choose that support and do not choose support of March 2015 to buy below it?
Hi Dmitrii,
I chose that support area because that’s the one I was interested in and where I felt would have a nice bounce. I bought it when I saw the buying picking up. It may eventually go lower and test the area from March 15, but I don’t care at this point because it was just a trade, I like to get in and out, take my profits and move on to the next one.
Perfect Stevie, Appreciate your insight. Saw the AIMT news and never thought about “DBVT”and it was calling to me.
Did you cross check your S/R with the fib lines?
She’ll answer the specifics, but yes I was focused on AIMT also and scratched the trade. Knew about DBVT, saw it, but didn’t even trade it. What a bounce. I was watching GBT, didn’t trade that one either. Today I did trade ATOS, and of course sold it too early. Embarrassingly too early actually. Hopefully a video later.
Hi David,
No, I do not use Fibonacci numbers. I found early on that the more I clutter my mind with technicals, the more trades I missed. Overthinking sometimes leads me to make bad decisions or totally keep me out of a trade. I use support and resistance and keep an eye on the volume.
Interesting, just wondered because you traded between them.
Hey Stevie. Got few questions.
A)) What’s your strategy on setting up stop losses? In other words when you do buy bellow support how do you go about deciding in advance where to place a physical or mental stop loss?
B)When you do place a limit order to buy. How do you decide how deep bellow support?
C)Just wondering what’s that platform you use? after long time using the blue background.Does the glare caused by the blue light irritates your eyes?
Great educational video Stevie!
She will answer separately Raphael, but I’m doing a post this weekend about stop loss strategies.
That’s awesome. Will you also incorporate an a definition to the words “break Hard” ?
I will. And we’ll answer your 3 questions. Also, agree that blue looks a little tough to deal with.
A) Well of course, the strategy is to nail the entry point so stop losses are not needed. In the event I choose poorly though, I don’t like to go more than 7-10%. When we’re talking ‘springs’, there’s no need for a stop loss, just trade the spring and get out.
B) That’s a hard one and not a science, usually just choose a couple of cents under support. I’m often disappointed at how much lower the price goes, but you can’t win them all. As long as I can win, I don’t fret over a couple of cents or I’d be crazier than I already am making Trader Scott more miserable than I already make him LOL!!!!
C) I’ve never been disturbed by the blue background. I actually like high contrast visuals, but you should work with what’s best for you.