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Joined August 2015
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Yes so much information is now freely available compared to ten years ago. Absolutely
do you think without paying for courses, just through studying blogs, examples, youtube and books, a good trader can be made
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Good traders are self-learners. They constantly learn and refine their understanding of markets, setups, processes, Situational Awareness, tactics, and other traders in the market.
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Thanks
Very interesting idea
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stockbee retweeted
Probably worth converting the 20% to ATRs and studying it that way. I’m in the process of converting everything from percentages to ATRs…for obvious reasons.
Cool idea
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stockbee retweeted
Yes and I tested the Zanger newsletters and most stocks could have been bought on a 4% day before the breakout on the chart that was obvious. It gets you in before the crowd.
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stockbee retweeted
That is very astute. You are right most retail strategies seem to be extremely similar so seeing the expected names the end of day before and getting in makes a lot of sense. Although I do see many who gravitate toward stocks that gapped up over night
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Yes one needs a more nuanced understanding of when to use it. I have volume based setups and non volume based setups
I agree, i think volume is better for capitulation plays and near closing time when the daily is forming to enter a trade. Like creating a doji before market close on bigger volume than previous days, Would you agree? Or still not as important?.
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stockbee retweeted
I spent the last few weeks going back in time studying @PradeepBonde TC2000 EP 9 million scan. If you were astute and committed you could have entered the top 100 winners on day 1 of their breakout. There is no better edge than that scan in my opinion.
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Whatever works for you
What if we just look at the finviz/webull list and number of stocks that are growing by more than 4% today?
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Trade small. Lots of singles and at times day trade to recover quickly.
15h
How do you manage drawdown sir? Do you reduce size/frequency after taking a few setups that do not work? I understand good situational awareness can play an important role in this.
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Yes if it is small cap and has a catalyst and gap is reasonable.
Large cap I enter after pullbacks or shakeouts if they have catalyst
Hi Pradeep, do u enter on day one of the gap or u would wait for few days to see the price action?
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If first leg is linear I like that.
I have seen many times that past action of the stock is choppy but suddenly demand emerges and stock has linear first leg up move then this kind of situation, do you consider as choppy or linear stock?
Thanks.
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One shot
Do you add on your position when the breakout is successful? Or is it always one buy shot?
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That is the number one thing I look at. If a stock has choppy action I don’t want to do anything with it. Linearity is most important if you want to make money with low risk.
Would you say it’s best to just look at the recent price action of the stock? If it’s choppy and gappy safe to say that will continue. Focus on clean consistent charts
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Recipe for disaster
Would it be smart to enter during market hours but enable 24/5 trading on the stock, allowing your stop loss to activate out of hours if necessary and negating the risk of a gap down?
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Break even plus
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EG, do you move the stop to break even once you do that? for the swing position?
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I have been doing this for 26 years, on right kind of stocks gaps are rare. Biotech I would never do this setup on.
Lot of this traders who keep on complaining about gap downs need to improve their stock selection and situational awareness.
I could be somewhat wrong on this, but I recall quall saying he really never had a gap down on any of his stocks. I think it’s rare if you are buying the types of setups you two talk about. But, even so, it’s a price of the game.
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Copy shamelessly traders who started with small account. Read the latest Market Wizards book they have on featured them
hey sir, whats the best piece of advice u would like to give to a person trading with pretty small cap
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Oversize on day of breakout and out same day , the swing position held for swing. So where is the overnight risk.
In the event of gap down, it will be market at the best price lower than your initial stop. If you oversize, doesn’t that cost higher in terms of % loss. I know it doesn’t happen too often.
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I only trade with n market hours. After market hours are for rest of the life.
If you are so scared of gap down risk trading may not be ideal career path for you.
What if stock closes ok but gaps down in pm are you out there or waiting for open?
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