Options In Play – Why Volatility Is Lower This Quarter
Noticing a trend of smaller moves this earnings season? There is a reason for that and it is something we have talked about frequently.
Continue Reading -->Scott Redler Interview with Investor’s Business Daily
T3Live’s Chief Strategic Officer, Scott Redler, joined Investor’s Business Daily for an in-depth interview on his trading strategy, including his approach to moving averages. In this video, Scott explains: -Why he doesn’t take stocks into earnings reports -How he developed his trading strategy -Why he calls the 8 and 21 day moving averages his “lifeline to the active trend” -What his trading tier system looks like -How he achieves work-life balance and blows off steam
Continue Reading -->Lessons from My Trading Journey | James Young | Strategic Day Trader
The stock market is often daunting for a beginner trader, but Strategic Day Trader subscriber James Young became a SDT room moderator within only 5 months of day trading. Learn how he was able to improve his trading skills and what advice he has for new traders In this video, James explains: – What his work experience was before starting to trade – Why he decided to join Strategic Day Trader – How Sami’s mentorship program changed his trading skills – Why being a room moderator is important to him – What his four keys to day trading are
Continue Reading -->Options In Play – The Difference Between An Option Hedge And An Option Strangle
An option hedge and an option strangle can seem similar at first glance but there are important differences between the 2.
Continue Reading -->Options in Play – Exits Area Influenced by the Market
The type of tape and the action on any given day is going to influence exits when it comes to earnings and the MMM trade today is a recent example of why.
Continue Reading -->Scott Redler & Josh Brown Talk Trading
In this special video, Scott Redler talks trading with Josh Brown, CEO of Ritholtz Wealth Management. You’ll learn: Why trading is a blue-collar profession What’s included in Scott’s free moving average eBook (click to request your copy) Why the 8 & 21 day moving averages are so important What a healthy market looks like How Scott feels about long-term investing Why traders should think like Derek Jeter Why Scott does not trade futures The only way you can fulfill your potential as a trader
Continue Reading -->Options in Play – The 2 Step Guide for Managing Calls on Red Opens
A big gap down when you are holding short term calls = a problem. The question is…how do you know which contracts to close and which to hold?
Continue Reading -->Actionable Swing Trade Ideas for Jan 27-31 | Market Update (Important)
For the first time in a couple of months, the QQQ daily chart has a wide range red bar, although the SPY is not quite as extended. The rest of this week holds some major earnings reports and possible effects from news headlines. In this video, Sami explains: – Why he thinks the QQQ hourly 20 ma is interesting – What he is hopeful for in the coming week – Why it’d be better for the market to drop a little bit – What he looks for when looking for targets – Why this is a difficult time for swing trading
Continue Reading -->Options in Play – Earnings On The Radar Week Of 1/31/20
It’s the biggest and busiest week of 1st quarter earnings. And guess what…volatility is back! Buckle up because it will be a wild few days.
Continue Reading -->10 Killer Tips Beginning Traders Need to Know
I’m Sami Abusaad, professional trader and Director of Education at T3 Live. I’ve been trading for more than a decade and have gained plenty of experience, but in this article, I’m going to share with you the top ten things I wish somebody would have told me when I was a new trader. 1. Don’t Wing it: Do it Right or Not at All If you think about it, trading is the only business in the world where the rank amateur has a 50/50 chance of making it. You can’t just wing it and be a doctor, a lawyer, a plumber, or anything else. What are the chances that you could perform a piano recital well if you’d never played piano? There’s zero chance of that happening. It’s the same in every other profession… well, except trading. There are only two types of trades you can make. You can buy or sell, long or short. Sometimes beginner traders wing it and get lucky, then think that they’re doing everything right. In 2005, while still working full time as an auditor at KPMG, I turned sixteen thousand dollars into fifty thousand in less than a year, which made me think – falsely – that I knew what I was doing. But without a methodology with an edge, do you really expect to take money away from the professionals who’ve been doing it all their life; have virtually unlimited resources; incredibly sophisticated technologies, algos, and HFTs; and who live, breathe, and eat trading? Do you expect to go in there and take money away from them – just like that – and then continue to do that on a consistent basis? That’s not going to happen. So, again, the lesson here is that you can’t have a shoot-from-the-hip approach and expect to win in the long run. You have to trade a methodology that has an edge, and you have to be able to do so on a consistent basis! 2. Study Your Own Psychology Understand that our brains are not naturally built for trading. We are actually biologically wired to lose. In Reminiscences of a Stock Operator, Jesse Livermore says most traders lose money because they take small profits when they are right and big losses when they are wrong. He says, “I sometimes think that speculation must be an unnatural sort of business, because I find that the average speculator has arrayed against him his own nature… The weaknesses that all men are prone to are fatal to success in speculation. “The speculator’s chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. In speculation, when the market goes against you, you hope that every day will be the last day — and you lose more than you should had you not listened to hope — the same ally that is so potent a success-bringer to empire builders and pioneers, big and little. “And when the market goes your way, you become fearful that the next day will take away your profit, and you get out too soon. “Fear keeps you from making as much money as you ought to. The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping, he must fear; instead of fearing, he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. It is absolutely wrong to gamble in stocks the way the average man does.” So, what is he really talking about here? He’s saying when the market goes our way, we usually become fearful that we might give back our profit and we get out too soon. And the opposite happens when a stock goes against us: hope kicks in and keeps us in losing trades longer than we should be, which wouldn’t have happened had we not listened to hope. Pay attention to how hope and fear influence your decisions. Don’t let the fear of giving back profits get you out too soon. And, similarly, don’t let hope keep you in losing trades longer than you should. There is a saying that sums it up quite nicely: traders eat like birds, and crap – pardon my French – like elephants. They make small money when they are right and lose big money when they are wrong… and all of that is due to hope and fear. 3. Your Attachment To Money Is The Main Cause Of Your Failure “When an archer shoots for nothing, he has all his skill. If he shoots for a brass buckle, he is already nervous. If he shoots for a prize of gold, he goes blind. He is out of his mind! He sees two targets. His skill has not changed. But the prize divides him. He cares. He thinks more of winning than of shooting and the need to win drains him of power.” That quote was written some twenty five hundred years ago by a Chinese sage named Tranx-su. When I read it I was blown away because it totally applies to trading. You see, the paradox is that traders do all the wrong things to be successful. By focusing on the money, we lose. By wanting and needing to win so badly, we lose sight of what trading is all about – it’s not about the immediate result. Trading is not a sprint, it’s like a marathon – you can’t think short term. What matters is the end. Trading is a business. Do you know of any legitimate business that tries to make all the money it can in the first week or two? I don’t; the ones that operate like that are rip-offs and scams. They make a quick buck and leave town. So again, don’t focus on the money and don’t become attached to the immediate results. If you do, you are almost guaranteed
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