Tag Archives for " Scott Redler "
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 -->Inside the Redler All-Access IPO Corner: Uber and Beyond!
2019 is turning out to be a BIG year for IPO’s. Pinterest (PINS), Zoom (ZM) and Lyft (LYFT) were big names of interest in April. Since then, Uber (UBER) and Beyond Meat (BYND) joined the club. In fact, the Redler All-Access Morning Note now has an IPO corner. Here’s what I wrote today before the market open: LYFT showed some rare relative strength but it’s still very broken. The recent low is $47. It reclaimed $50 yesterday. It needs to hold $49. There is some room towards $52-$54 but that’s heavy resistance.PD has trended higher. $42 was our listed pattern price. It’s done very well, hitting a high of $54.57. Now it’s a bit extended. The 8 day is $49.ZM needs to hold $70 to keep upper momentum.PINS is choppy but the pattern is building. Now see if $27.02 holds to keep things constructive.UBER showed some strength yesterday as it closed near the highs. I bought some. My stop is in the $38 area. Hopefully it can get another day up and clear $40 for a push towards $41.BYND remains very strong as it cleared $72 to make a high of $80.75 yesterday. See if it can hold $76 to keep momentum. UBER had a rough first 2 days after coming public. But yesterday, it was strong and I got long before the close. Turns out good news hit right after the bell rung:Here’s the UBER chart I made just before noon today, where you can see the follow-through:UBER filled the gap and hit $41.69 today for a nice one-day gain. This was a nice little cash flow trade. Moves like this won’t make you rich but short-term 5% winners do add up. Now I’m looking for another setup in UBER, which I’ll be sharing in Redler All-Access. Let’s talk about BYND now, which was trickier. I said it needed to hold $76. It broke that level this morning, but look at how fast it came back to shoot up to $92:That’s a sign you need to pay attention. The key here is that BYND broke above that nice bull flag to take out $80.75, then the post-IPO high of $85, before finally reaching $92. So you probably know why we’re following the IPO names so closely in Redler All-Access (click that link to follow along) — they often set up great patterns for nice intraday cash flow trades and swings.Positions Disclosure: As of May 15, 2019 at 1:11 p.m. ET, Scott J. Redler was long SPY, TWTR, QQQ, AMRN calls
Continue Reading -->Scott Redler’s Reality Check: How to Take Control of Your Trading, and Finally Turn Things Around
Every day is a new day. And that’s the beauty of trading. You can always start over. But if you want to make a fresh start, you need a reality check. Put your ego aside, and take a serious look at what you’re doing right, and what you’re doing wrong. Most traders, especially when they’re losing money, can’t do that. But if you’re ready to take control of your trading, you can start now. Here’s how: 1) Break Down the Last Year This is where the rubber meets the road. Your first step to getting on track and stemming the bleeding is to know where you stand. Take your last 12 months of trade data, and put it in a spreadsheet. What was your P&L for each month? What about each week? And each day? What was your average gain or loss per trade? What were your 5 best and worst 5 days? 2) Connect the Dots Start working your numbers and look for the common threads. Did you let losers run too far? Did you sell your winners too early? Are you having trouble shorting stocks? If you look deep enough, you’re going to see some really interesting things… especially if you think about your life outside of trading. I’ve seen many traders post their worst results when they’re having family, career, or health problems. Something big like a divorce or surgery can really set you back. A lot of traders think they can fight their way through anything. And you do need a little bit of that attitude to get ahead in life. But if a major life event throws you off your mental game, take a break, regroup, and come back fresher. 3) Set New Goals Your #1 goal for the second half should be to break bad habits. Did you hit your daily loss limits too often? Did you keep doubling down on bad trades? Make a list of habits that cost you money, and print it out. Then, post it at your desk and read it every day. Breaking bad habits gives you instant results. For example, let’s say you keep breaking your daily loss limit, which drags down your average daily P&L by $500. If you can eliminate that bad habit and take back that $500, you’re going to have an extra $10,000 a month. That takes care of a lot of mortgage and tuition payments. How do you do this? Start by following the list you just made. 4) Create a Trading Daily Routine Successful people don’t come in to work wondering what they’re going to do. They have a routine. Elite performers like Steve Jobs, Winston Churchill and Benjamin Franklin all used daily routines to stay productive and on track. Trading is no different. So I’m challenging you to make a checklist of 10 things you’re going to do when you get to your trading desk in the morning. This can be stuff you’re already doing. But I want you to systemize it so you flow from one task to the next without getting sidetracked by the news, social media, or TV. It could be checking news, scanning charts, tracking futures, previewing the economic numbers, whatever. Just have a routine and stick to it. 5) Get Some Balance I love trading. But I’d hate it if I never got away to blow off steam. I highly recommend picking up a sport or hobby that forces you to be 100% in the moment. So start running, swimming, playing chess, or even video games to give your trading brain a rest. You’ll work out your stress and come back fresh. Plus, you’ll be taking better care of your body. Your P&L is tied to your health. If you eat well, and get to sleep at a decent hour, you’re going to be a better performer day in and day out. But if you’re coming in on 4 hours of sleep and chugging coffee to stay awake, you’re doing this all wrong! The Bottom Line You’ll never get where you want to go in trading if you can’t see the truth about yourself. Hopefully, you now have some ideas that can help you take that first step towards turning your P&L around. Positions Disclosure: As of 5/10/2019 at 10:56 a.m. ET, Scott J. Redler is long TWTR, TWTR calls, AMRN calls, BRKB calls
Continue Reading -->Scott Redler: What Is a “Special” Stock?
FYI – I discussed the broader market action with CNBC yesterday. Click here to read the article. ****** If you follow me, then you probably know I have my own trading language. It’s easy to understand once you get the hang of it, but I sometimes get questions about on particular term I use: ‘special’ As in, there are special stocks and not-so-special stocks. So what is a special stock? To me, a special stock is trending above the 8 & 21 day moving average (or an earnings gap) and showing relative strength vs. its sector and the market. These are the names I want as swing longs. I typically start them as Tier 1 positions (which is essentially a foothold), so I can add when these names break to near-term or all-time highs. (I discuss the Tier System in the Path to Profits program) This is a daily chart of Diebold (DBD), one of my picks from the 2019 Market Outlook Report:As you can see, it held the 8, 21, and 50 day to start the year. Then it gapped up big on earnings and reclaimed the 200 day moving average. Then it held the gap and didn’t fill it at all. This is ‘special’ behavior because it held the moving average, then held post-earnings highs with no trouble whatsoever. So what does a ‘not-so-special’ stock look like? Well, Lyft (LYFT) is a good example. It hasn’t been able to hold a high, and it’s below its brand-new 8 & 21 day moving averages.And Apple (AAPL) recently lost special status when it couldn’t hold its post-earnings gap.Want to learn more about my system? Check out Path to Profits.Positions Disclosure: As of May 8, 2019 at 10:49 a.m. ET, Scott J. Redler was long TWTR, PSN, BABA, TWTR calls, AMRN calls, BRKB calls
Continue Reading -->Scott Redler: Twitter Knocks It Out of the Park
Twitter (TWTR) crushed its earnings report this morning and surged big-time. Let’s wind the clock back and see how it played out. In Monday’s Redler All-Access Morning Note, I said this: “TWTR reports tomorrow morning. It’s hard to tell if this lower-level channel can resolve higher. I bought $36 calls in case it makes a big move. I’ll also see if it’s buyable after the report tomorrow, but it needs to hold $35.50-$36 on big volume to get some momentum back.” I also sent this chart on my private Twitter feed (for subscribers only):Good thing I had those calls… because it did make a big move! Twitter gapped up big today, as you can see:I sold my stock premarket, and then trimmed some calls as the stock rallied higher and higher. Here’s a chart showing the action in those April 26 $36 calls:Wow! Obviously, not all trades work out like this, but it feels great when they do! I typically look to hit singles and doubles when I’m trading, but sometimes, you make contact just right and things work out better than you think. Plus, as Redler All-Access members know, I’ve been in Facebook (FB) stock and calls too, and Twitter’s giving those a boost.Positions Disclosure: As of April 23, 2019 at 1:20 p.m. ET, Scott J. Redler was long ACB, TIGR, BAC, ZYNE, NFLX, FB, BAC calls, AMRN calls, BIDU calls, FB calls, TWTR calls
Continue Reading -->Scott Redler: Pinterest, Zoom, Lyft, and What’s Next
On Thursday, I appeared on the TD Ameritrade Network with my friend Nicole Petallides to discuss the big Pinterest (PINS) and Zoom (ZM) IPO’s. (click the play button to watch)We’re going to talk about what happened on Thursday. But before we get into that, I want to lay out the main principle from my ‘Art of the First Day’ IPO strategy. When it comes to judging new issues, I don’t focus on valuations or fundamentals. Instead, I look at supply and demand. The market action — especially the initial pivot highs — will tell you which IPO’s are hot, and which ones aren’t. Lyft (LYFT) failed early because there were too many shares up for sale. It quickly lost its initial lows and fell apart:Now let’s look at a recent IPO that had more demand than supply. Jumia (JMIA) is a perfect example of too many buyers not chasing enough shares. This is what F.O.M.O. looks like:Zoom priced its deal at $36. And in 1999-style, it opened at $65 and put in a high at $66. This may be a case of too much, too fast. The low was $60.32, and it closed at $62.Here’s how I’m looking at ZM now: it already made a massive move and there’s a lot of room between here and the $36 IPO price. Right now, I want to stay flat. If it breaks $60, the lucky longs could get nervous and start cashing in. And shorts might step up too. If it can hold for a few days, I might buy on a close above $66. Now let’s talk about Pinterest. Pinterest priced at $19. The stock then opened at $23.75. It hit a high of $25.18, a low of $23.05, and it closed at $24.54.Now it needs to hold that $23.05 low. If that breaks, I’ll have to reconsider my long. If it can get above $25.18, perhaps there’s a multi-day run. Positions Disclosure: As of April 22, 2019 at 9:07 a.m. ET, Scott J. Redler was long ACB, BAC, ZYNE, AAPL, PINS, TWTR calls, AMRN calls
Continue Reading -->Chef Scott Redler Shares His Secret Turkey Recipe
Family + friends + food + football + fitness (say that 10 times quick!) makes Thanksgiving one of my favorite holidays. And believe it or not, I’m pretty handy in the kitchen. I cook like I trade, and I trade like I cook. I keep things simple, and I go with what works. I’ve been using this turkey recipe since my parents moved to Florida 14 years ago, and it’s what I’ll be serving my family on Thursday afternoon. Ingredients List Turkey 3-4 long celery sticks 2 sticks of butter 2 oranges 3-4 lemons 2 sticks of butter 4 whole onions 3 big hunks of garlic Salt Pepper Paprika Ms. Dash seasoning 1 can of pineapples 1 jar of orange or apricot jam The quantity of ingredients depends on the size of your turkey. Just scale up or down as you see fit. We usually get a frozen 20-pounder. And oh yeah — make sure you have a quality knife! It will make your life a lot easier. I’ll take the bird out of the freezer Monday morning so it will be defrosted by Wednesday evening, when I do my prep work. You know me. Whether I’m trading, running, or cooking, I never show up for battle unprepared. If you start getting things ready before Thanksgiving, you’ll get better results with less stress on Thanksgiving… just like in trading! I’ll dice up 4 whole onions and 3 big hunks of garlic, and toss them in a large bowl. I then add salt, pepper, paprika, some Mrs. Dash seasoning, and mix it all up. Then, I’ll stuff it into the turkey. I’ll also put half a can of pineapples in there, and jam a stick of butter right in the middle of all. Then, I pour some orange juice and lemon juice over the turkey skin — just enough to get it wet. In a separate bowl, I’ll mix up more salt, pepper, and paprika for the skin. I spread it all over, making sure to get in all the nooks and crevices. Don’t be cheap! Then, I’ll wrap the turkey in a big bag and leave it in the refrigerator overnight. On Thanksgiving morning, I’ll cut a few long celery sticks in half and put them on the bottom of the pan. Then, I take the turkey out of the bag and place it on the pan. There will be a lot of juice in the bag. Transfer it to the bottom of the pan, and be careful not to spill any. It’s a real pain to clean up! Then I’ll mix up more salt, pepper, and paprika, and sprinkle it on top of the turkey. Now it’s time to stick the bird in the oven. After an hour, start basting it every 15-20 minutes. Take juices from the cavity and squeeze it on top of the turkey. Also, rotate the pan every hour or so. It should take about 4 hours to cook. Just follow what your meat thermometer says. When there is about 20 minutes to go, pour a jar of orange or apricot jam in a bowl, and add a softened stick of butter to it. Mix it together, and brush the turkey with it. Stick the turkey back in, but keep a close eye on it. We want a nice crispy skin, but we don’t want to burn it. Once the turkey’s done, take it out and let it sit for an hour before you carve it. By the way, if you’re not experienced in the art of carving up a turkey, this video will help you get it right and impress your family: Delay your carving as long as you can — turkey tastes best just when it’s cut! If you give this recipe a shot, take a picture, post it on Twitter, and tag me (@reddogT3) so I can see it! Have a great week, and an even better Thanksgiving!
Continue Reading -->How to Save 50% on Our Black Friday Sale
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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 -->Chef Scott Redler Shares His Secret Turkey Recipe
Family + friends + food + football + fitness (say that 10 times quick!) makes Thanksgiving one of my favorite holidays. And believe it or not, I’m pretty handy in the kitchen. I cook like I trade, and I trade like I cook. I keep things simple, and I go with what works. I’ve been using this turkey recipe since my parents moved to Florida 14 years ago, and it’s what I’ll be serving my family on Thursday afternoon. Ingredients List Turkey 3-4 long celery sticks 2 sticks of butter 2 oranges 3-4 lemons 2 sticks of butter 4 whole onions 3 big hunks of garlic Salt Pepper Paprika Ms. Dash seasoning 1 can of pineapples 1 jar of orange or apricot jam The quantity of ingredients depends on the size of your turkey. Just scale up or down as you see fit. We usually get a frozen 20-pounder. And oh yeah — make sure you have a quality knife! It will make your life a lot easier. I’ll take the bird out of the freezer Monday morning so it will be defrosted by Wednesday evening, when I do my prep work. You know me. Whether I’m trading, running, or cooking, I never show up for battle unprepared. If you start getting things ready before Thanksgiving, you’ll get better results with less stress on Thanksgiving… just like in trading! I’ll dice up 4 whole onions and 3 big hunks of garlic, and toss them in a large bowl. I then add salt, pepper, paprika, some Mrs. Dash seasoning, and mix it all up. Then, I’ll stuff it into the turkey. I’ll also put half a can of pineapples in there, and jam a stick of butter right in the middle of all. Then, I pour some orange juice and lemon juice over the turkey skin — just enough to get it wet. In a separate bowl, I’ll mix up more salt, pepper, and paprika for the skin. I spread it all over, making sure to get in all the nooks and crevices. Don’t be cheap! Then, I’ll wrap the turkey in a big bag and leave it in the refrigerator overnight. On Thanksgiving morning, I’ll cut a few long celery sticks in half and put them on the bottom of the pan. Then, I take the turkey out of the bag and place it on the pan. There will be a lot of juice in the bag. Transfer it to the bottom of the pan, and be careful not to spill any. It’s a real pain to clean up! Then I’ll mix up more salt, pepper, and paprika, and sprinkle it on top of the turkey. Now it’s time to stick the bird in the oven. After an hour, start basting it every 15-20 minutes. Take juices from the cavity and squeeze it on top of the turkey. Also, rotate the pan every hour or so. It should take about 4 hours to cook. Just follow what your meat thermometer says. When there is about 20 minutes to go, pour a jar of orange or apricot jam in a bowl, and add a softened stick of butter to it. Mix it together, and brush the turkey with it. Stick the turkey back in, but keep a close eye on it. We want a nice crispy skin, but we don’t want to burn it. Once the turkey’s done, take it out and let it sit for an hour before you carve it. By the way, if you’re not experienced in the art of carving up a turkey, this video will help you get it right and impress your family: Delay your carving as long as you can — turkey tastes best just when it’s cut! If you give this recipe a shot, take a picture, post it on Twitter, and tag me (@reddogT3) so I can see it! Have a great week, and an even better Thanksgiving!
Continue Reading -->