Supercharged Swing Trading: How to Profitable Escape the Day-to-Day Market Grind
Sami Abusaad | Swing Trading Webinar ReplayEditor’s Note: The SST deal has expired, but we recommend watching the video to get a taste of Sami’s approach anyway.Watch Sami Abusaad’s latest swing trading webinar below, then check out his Strategic Swing Trader deal. Get Sami’s course and newsletter for just $47. Expires tonight at midnight! Ready to trade with Sami?Don’t miss our Strategic Swing Trader deal. Get Sami’s course and newsletter for just $47!
Continue Reading -->Market Wrap: Market Pumps the Brakes on Trade Talk
Ifan Wei | Market WrapIfan breaks down today’s market action.Concerns over negative data on wholesale cost of US goods and services for August subsided as the resumption of China/US trade talks was announced.A whippy morning session in the market calmed down with a muted response to Apple’s press conference.
Continue Reading -->Can You Swing Trade Penny Stocks?
Sami Abusaad | Swing Trade LessonsToday’s video is about swing trading low priced stocks, and whether one can make money trading them or not.We also discuss the current market environment as well as Wide Range Bars (WRBs). Are WRBs truly the footprints of money?Watch the video, then check out this webinar replay: Strategic Swing Trader. And in that link, you can join Sami’s Strategic Swing Trader program for just $47 – saving you $848!
Continue Reading -->Market Wrap: Big Jobs Numbers, Incoming Hurricane
Ifan Wei | Market WrapIfan breaks down today’s market action:
Continue Reading -->How to Scan Stocks for Actionable Patterns Part 1
Ryan Tonking | Black Room LessonsI often get asked how to find stock patterns. With over 1000 stocks in my day trading universe of possible patterns, it’s impossible to catch every pattern as a discretionary trader, but missing out on a bunch of nice patterns doesn’t work either. Having a scanning routine at certain times of the day helps me narrow down my universe list to a basket of stocks that will most likely give me a pattern. This is more manageable to work with and frees me up to focus on the best stuff of the day. This will be a 4-part series that covers gaps, relative strength/relative weakness, 15min patterns, and more!(Click for Part 2 of the series)
Continue Reading -->ORCL Case Study: An Unusual Way to Play a Calendar Spread
Options in PlayOptions Trades with Kurt Capra & Daniel DarrowToday’s video is about the recent ORCL calendar call spread. It was a little bit of an unusual trade and something unique to options.
Continue Reading -->Sami’s Swing Trade Monitor: September 10 – 14
Sami Abusaad | Swing TradingSami Abusaad discusses the swing trades he’s targeting for this week.
Continue Reading -->What I’m Really Risking on a Bad Trade
Ryan Tonking | Black Room LessonsBeing that I am a discretionary trader, I have to make a choice on which patterns to take. Today’s video shows that taking a bad trade or a trade that is out of strategy effects more than just that risk unit. There is a lot more on the line when I jump into a bad trade.
Continue Reading -->Scott Redler: 10 Trading Rules I’ll Teach My Son
The son becomes the father, and the father the son. -Jor-El, father of Superman Last year, I had back surgery to correct a sequestered spinal disc. That pretty much meant the end of my competitive racing career. But as one Redler falls… another rises. I’m winding down. And my son Chace is winding up. On Monday, he ran the 38th annual President’s Cup 5K Run in Millburn, NJ in 20:15.28. Here’s a picture of us after the finish. I ran the race alongside him… until he passed me by. Chace broke the record for 8-year olds for this particular race. And he may have posted one of the top-3 5K finishes EVER by an 8-year old. (official records are a little spotty) I think running and competing can take him far in life. And I’m not just talking about college scholarships. He’s learning the value of discipline and hard work early. But maybe one day he’ll leave running behind. Maybe he’ll follow his old man into another competitive, testosterone-filled career… trading. If he made that choice, I’d drag him into the garage, lock the door, and not let him out until he understands these 10 trading rules: 10) Trading Is a Business People think trading is like hitting the craps table at Ceasars Palace. But it’s a business just like any other. You have to balance your books every month, make it through slowdowns, and most of all, not put yourself at risk of bankruptcy. The average guy on the street thinks trading is really exciting. You lose $10 million one day, and make $20 million the next. NOTHING could be further from the truth. Every successful trader knows that… 9) Trading Should Be Boring Thrill-seekers always fail. Always. Here’s a pretty common scenario: A trader starts his career, and BAM! He has a huge day. Let’s call it $50K. I gotta tell you, $50K all at once can ruin a trader’s life. They start thinking that big money comes easily. They start thinking about making $100K a day… or $200K a day. So they keep taking more and more risk… until they run into a day like the August 24, 2015 flash crash. 5 minutes after the open, the margin clerk’s demanding more cash. The trader doesn’t have the money to put up, so their positions get closed out, right at the bottom. So they’re put out of business just before the rebound. I’ve seen it happen again and again. So if you’re just getting started, I recommend that you… 8) Focus on Execution First, Money Second If you get good at anything, the money’s going to come eventually. So focus on developing your skills, and properly executing the strategies you learn. That’s what’s going to keep you in the game for the long run. Fast money leaves just as fast at arrived. Your #1 goal should be to develop a set of trading strategies that can give you consistent profits, no matter what’s happening in the market. Once your brain gets big, your wallet follows. But let’s not forget about your heart, because… 7) Your Temper Can Kill You Self-control is more important than brainpower. You can have all the intelligence in the world, but if you can’t stay calm when you’re losing money, you’re toast. You need the self-awareness to know when you’re at risk of letting emotions dictate your decision-making process. I just read an article in the Wall Street Journal about a banker that used basketball to judge job candidates: Some employers confessed to weeding out applicants in the gym. John Osbon said when he was a Wall Street managing director he played basketball with job candidates. He would step on their feet or yank their shirt in games, he said, to see how they reacted. If they kept their cool, they passed the test. “They were all fair fouls, and I didn’t hurt anyone,” Mr. Osbon said. “You have to take someone down to size.” Sounds like a pretty effective way to judge a trader’s ability to take pressure! How easily do you keep your cool? And what can you do to work on being even-tempered? But we all know we can’t keep our emotions perfectly on check. So I recommend that you… 6) Use Reverse Psychology on Yourself We’re only human, and we can never perfectly manage our emotions. I’ve been doing this for 18 years, and I still get too excited sometimes. And when I feel that coming on, I know my ego is getting the best of me. So I force myself to trade more cautiously, because I’ve put myself in the danger zone. And when I start every trading day, I try to… 5) Be Naturally Neutral I don’t expect too much at the start of a trading day. And I don’t expect too little. Every day is different, and if I’m in a neutral mood, I’m ready for whatever opportunities present themselves. If you start your day dreaming of piles of cash, or worrying that you’ll go up in smoke, you’re doomed. Now, once you’re out there, not every trade will go your way. You’re going to lose money. But that’s okay, because… 4) Great Traders Are Losers Every trader out there loses money. I lose money all the time. Some of the richest traders I’ve met lose money every single day. But the reason I’m still in the game after 18 years is that I don’t lose big. Say I’m long AAPL from $150, and I get stopped out at $148. I’m not gonna celebrate, but I’m not gonna cry either. You know why? Because small losses won’t knock me out of the game. Now if I rode AAPL down to $130, that’s another story. If you dig a deep enough hole, you may need 10 winners to make up for 1 loser! Understanding this can help you… 3) Start Thinking Like a Pro Like I said, brainpower isn’t everything. You can have a 180 IQ, but you’ve got to adopt the mindset of a pro. Pros don’t think about Ferraris
Continue Reading -->The State of the Market for Options Traders
Options in PlayOptions Trades with Kurt Capra & Daniel DarrowToday’s video is going to talk about the state of the market. The recent weakness is creating opportunities but it’s important to follow the flow of news.
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