"5-10 tickers make up an entire PnL for a month." So true. Trade hardest when the edge is the highest. Some days will have far less opportunity than others. "Edge can be very fleeting." Love that quote. An important fact to remember. Don't fall in love with a stock. "Go to where the broken slot machine is." Another quality video SMB 👊👍
I put in few of the things into work today and I've been rewarded straight away, yes the market was easier to trade today but still it made huge difference. My criteria: 1. Catalyst 2. Volume 3. Gap (nice to have not ne necessary 4. Stacked L2 5. Daily lineing up 6. Clearly defined higher time frame structure 7. Market with me (trading in the direction of the market. Thanks to all of this I managed to get into TSLA SHORT when the SPY rejected 400. One of my biggest trades ever and so I wouldn't leave it there I sized up on it as well as I was presented with A+ and Lance talks about sizing accordingly. Love you SMB and all you do for all uf us for free.
Thanks lance, good clip. "where the puck is going..." Agreed, where will capital flow? You know you would never put on a trade without understanding the 'big pic' or market conditions. So, knowing the macros help you understand and ferret out the probability of a specific sector working out and in turn company specific play. Most traders dont know or care to know the impact of the macros. However, if you do, then knowing where the puck is going is certaintly a lot easier to understand...
Thank you so much for taking the time to share such helpful information in a regular basis. I know it will be life-changing for me and many traders that are willing to listen and reflect. I also know and appreciate that you don’t have to share all this and for you choosing to do so I am eternally grateful. Keep up the outstanding job!
I know a guy who made 12 trades last year trading only oil, copper, gold, natural gas, XLE, XLU and one XLB trade he really regrets and said he became too emotional invested in (his only losing trade and it really destroyed his profits), and a credit spread on wheat I don’t understand. He knows commodities and only commodities. He made 750k on 12 trades, and would have been over 1 million if he hadn’t doubled down on his materials bet. Point being- you can go a long way in the stock market learning a few tickers, what makes the move, and market conditions, and just waiting until you EV is really high and hammering the trade. He’s also traded over 10 years, so it took him a while to reach this strategy.
No...I am a big money trader...I am with the vlogger... I play different stocks every day not by choice Bec they r the big movers for that day...I've seen people who say u have to focus but they are more often lazy traders. This is day trading not swing. Day trading outperforms swing trading n r more consistent traders
Becides scanners and daily chart analycis i pay atention at the price diagram on the 5'chart if price appearence is scaling up at least 1$ or 2,5$ think there is potential
I don't know what to say, I'm new to trading, I've been learning for months already and lately I've been feeling lost literally, first I heard of Lance through chat with traders podcast and now this, this is just awesome, appreciate a lot the work put behind the cameras, incredibly helpful to me, big thanks!
I love this! Even after seeing this play out in my own stats, on days where my preferred high odds catalysts aren’t present, I still trade aggressively with the same techniques I’d use on the catalyst plays. Today was a perfect example of that. PDD long in the earnings, gap, and tremendous volume. Great. AMZN short for the nice leg down as continuation from Friday. But then kept trying to short AMZN all day long when I KNEW, my technical analysis edge was NOT there. I knew I needed to stop, but it was like I kept trying to see if the wrong thing to do would be profitable anyway… trying to be smart and just plain ole arrogant trading.
@@smbcapital since I started SMB’s winning trader and DNA, I’ve been fighting letting go of “what I knew”. But, over time, it has been gradually coming clearer and clearer that I only knew half the battle. But, still there was/is some fight left which is why I recognized the edge in AMZN was gone, but kept pressing anyway. This video and your follow up comment really came at a great time in my development. They let me know how the big traders really do narrow the market, not everything that moves is mine, and that I have skills necessary to manage the trades and that I just have to stick to the stocks in play. Sincerely, thank you all.
Today was $PDD, and I chose not to partake in it and focus on another stock which didn't have edge, I took note of it earlier and from now on will focus on the stock that is more in-play than the other.
@@smbcapital Indeed it was on my list, I got a little frazzled earlier in the day and missed the 2nd day vwap rejection at like 1 ocklock, was a really nice setup that i'm trying to incorporate
Gratitude. I am relearning and refining after being introduced to this industry in 2021 by a teacher who was heavy on gatekeeping. Newbie me had no idea how much vital foundational information was being not being shared until I started studying veteran pros who mainly focused on stocks. During my re-education, I’ve been relegating myself to one futures instrument (I learned with CFDs in Forex, sucked and currency pairs, excelled with indices, crypto and gold). You’re making me feel like I don’t have to have such a narrow scope… though I do want to honor that my new guide advises a narrow scope to start.
I see edge in everything because I’ve no edge. Everything seems like a big red button asking to be pressed. Narrowing and identifying true edge that works for me is hard. So much noise indeed. This is a pretty cool perspective to chill that excitable bug inside me. Finding identifying and then play that broken slot machine. Go to where the broken slot machine. Go to where the easy trade resides. This style of trading is damn fun. Wow! Thx Lance, Mike, SMB!
Just look for the premarket volume.. make a watchlist. and every 20 or 30 minutes scan for top volume and update the list. If there's volume there is probably a reason. There will be volume on stocks that are flushing for the bears and volume for the bulls.
I pick good stocks mostly but I mess up with not cutting my losses quickly and jumping in blindly at the wrong time among some other things I am working on.
Sounds like excellent advice.Always good to learn from a professional trader. i would like to know what settings you have on your scanner for abnormal volume to filter out the noise while giving the tickers that are ready to make a move. If you could do a video on scanners , that would be great.
There are. In fact I know that one of the greatest traders in the world who trade only trades his bread and butter mega cap tech stocks as well as spy and qqq
I can find the stocks every day, and I can trade them. In the Think or swim simulator, I brought $100,000 to $670,000 and have stayed at this level, but unfortunately when it comes to real money. I am under the PDT and struggle with only 3 trades a week.
I trade options 1-3 times a day 5 days a week and my money is reconciled every day. PDT doesn't apply when you use call and put options. Practice with just 1 contract at a time, til you get used to it.
Mike you can also change your account to a cash account and PDT limitations go away. You just have to let your trades settle after you sell which is usually a couple days. Still No limit to how many trades you can do when using settled funds.
If the overall market is selling off, would you want to gravitate towards the weakest stocks gapping down on negative news and volume? Sometimes I get chopped up in the beaten down names that are really extended.
so for a suggestion to you fellow trader think of trading especially stocks like tetris - there is days where everything is linear in the same direction all wind is blowing the same other days where when you step back at the general context of sentiment in current market its bearish but could be an inside day on the indices themselves, this is where overall sentiment holds value and like tetris stocks can fall one by one breaking down from their upper channels to retest the middle of the range the stocks that are super extended to the downside are going to offer little value for a day trade basis they are declining but range is contracted those are better for swing positions for me on a day trade basis you want those stocks breaking a pivot back to middle of range or to retest the lows those are going to offer the best value for a measured potential move to the downside falling like thus tetris individually one by one
early mornings or pre close usually are the best but there are often days where the market will get very active on something like a Fed announcement. We actually have a video coming discussing how to trade if you have limited time during the day
Thank you Lance. How long does it take you to adjust to market conditions change and the way you trade. Its seems for me as second year trader, it takes me around a week, when i say, wait a minute…. Is this ok or should I train to realize it quicker?
I'm having a hard time understanding the implications of this information in the context of futures trading where lots of traders make a career out of trading a single index like ES. Any advice?
Is the broken slot machine concept as prevelant for swing trades as it is intraday? Meaning, is there no edge in trading most stocks on a say 3 day to 4 week time frame? Do we still need to find the few broken slot machines to swing trade with edge?
QUESTION: Lance: How did you decide, and what do you do, to keep yourself motivated & disciplined once you reached your FU monetary goal (or maybe that's enough to cover your frugal living expenses for 20 years)??
You got to get this fellow a teleprompter for his notes - they make them for ipads etc.. it's very important to look within a certain point into the camera. Also 'sizing is nothing' ~ is crazy advice, SIZE KILLS. Every time options have hurt me was because of a position being too large. No position should be larger than 4-7% of your total net liquidation.
Hi Lance Is it possible to gain an edge and be profitabe trading the 1 minute chart on indicies like Nasdaq and Dow Jones in the first 30 minutes when the volume is high?
3:30 I'm trying to get the stock selection skill down and I have an important question... What is the % spread between Bid and Ask I should gravitate towards or away from when choosing a stock gaining Momentum?
I wonder if SMB capital is willing to reduce the recent training offer to $500 ... I probably would not be able to make use of it anyway since I am quite slow in learning new things.
While I certainly agree that it is a platform to sell courses, this is quite an important insight I think. Think of the stocks making people big money atm. There's probably only really a handful and you'll probably be able to name them with high accuracy.
