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Nate.. just love your weekend scans… you provide so much more insights into a particular set up that most newbies aren’t aware of. When is a ticker hitting the scans. Where is new $ coming in, where are their shorts needing to cover. So incredibly helpful, transparent and insightful..!!
One ticker I’ve been watching is EXPR women’s retail clothing. Beat estimates. Has a newly revised retail plan according to their PR… volume has been 3x+ since mid last week… they’ve gone from mid 3’s last week to hitting HOD over $5.50 over 3 days… Green every day… almost always trading above VWAP a few pull ins but nothing that seriously cracked… The history of this has been very defined… 4-5 days run up then a 3-4 day pull back of around 50% of the move up…
As you mentioned you always would “love” to top tick a downward move… There is no doubt there will be a pull back just not sure if that would be Monday Tuesday or Wednesday…. Anyway I covered some of my original short position not seeing where the top is going to be. I entered small when it was at $5 a 6months high. But now I’m at the top at $5.50. Hey if it rips through $6 ok I can add…
$6.35 is 52wk high… but this has had big volume and a straight run up from $3.50. Any comments or perspective would be great ?. Thanks I know PUT volume has increased like 70% over the last few trading days…
Thanks Nate! Your opening comments are what hit me as a trader getting ready to start.
Thank you.
Loved your comments on large size and mentality that goes into managing a position when it either goes sideways or starts to rebound. You’re completely right, sizing down to a more comfortable less emotional position Is hard to hear but it’s the truth. Thanks for I was laying down great content
I have a question about if you see a big bid and the market swoops down and hits it, then pops back up, why does that happen?
These advices worth more than gold. I really like the talk about psychology, how to start building account, how to add more money, focus on what I am good at and basically build my style around my personality. It's always awesome hear good traders talk about that.
I would add something about paper trading. Yes, it has no money, but that doesn't mean no emotion. You just have to come with some replacement and add emotion. One way is to be accountable to someone else, that way you don't want to look bad and messed it up, right? Or you can bet about something. Whatever. The point is that we (as humans) have emotions if we care. It don't need to be only money. I started write my results on whiteboard so my wife could see it (and I wanna look good) so the emotions were there. Somebody else would start a blog and basically do journaling online for everybody, then again, you don't want to look like inadequate, so emotions are there as well.
Then I discover Trade in the zone by Mark Douglas and started the exercise – only one method – for 20 trades. For me it's 20 trading day and my equity line never been smoother. Simple ABCD setup from Nate's dvds and I am going forward. Now it's almost a habbit for me and after transition on real account it will be much easier for me.
Also if it would be possible I would appreciate some advices on topic 'how to scale out in winning trade'. I would have entry with ABCD setup and would cover part of position on resistance or whole numbers, but sometimes a ticker would just keep going and I am already out.
No idea why people got mad at that commercial.
Great breakdown of your thinking process. Big takeaway: Detachment. Particularly on your recap of AUPH & CLVS. Nothing gets a trader into trouble like holding when price moves against them. Know how to read the market. There's so much great advice in this, tough to identify just one big takeaway. Keep sharing! Thank you.
TBLT is ready for a big move soon.
Nate thank you so much!!! This is awesome. I can’t wait to get into chat!
"You can always load back up onto the stock to have better entries." One of my issues is that if entry is incorrect i usually reject the stock for the remainder of the day