Chat Log for 5/31/2021
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- 06:01 AMTrade4CharityWhose studying at 6am today!!!
- 08:14 AMoriginalkeithbgood morning
- 08:58 AMoriginalkeithbwatching tt2 chapter 7 reverse long strategy
- 09:01 AMPointsoriginalkeithbI really want to absorb it just don't quite have the free cash right now...If i may did you pay full price and are finding it fully worth it?
- 09:20 AMSmurfHerderdid anybody get Tims watchlist for today?
- 09:24 AMoriginalkeithbSmurfHerderyou know whats cool ive been learning to make my own watchlist, investigating my top picks, and I am starting to get more confident with it
- 09:30 AMShapiraBerkoGood morning!
- 09:48 AMTradingTracerAnyone having problems with profitly app? I got a new phone so Idk if it's just me or the app glitches. I did hear Tim say they were updating things and working stuff out.
- 10:05 AMrobertfireis the Market closed?
- 10:05 AMoriginalkeithbYes. I'm curious what AMC will do tomorrow morning at the open
- 10:06 AMrobertfireoh I see Memorial day, I'm outside USA
- 10:25 AMChantal007Canadian market is open it's slow
- 01:10 PMdctrading92Grilling and studying!!! what a great day!
- 02:28 PMTrade4Charitywhile the Average person is doing BBQ's. Ive been studying all day!
- 02:30 PMhanleyhigh5Hi everyone!!!!! Listening to Tim Sykes while I garden and grill!!!! Taking action to change my future and leave a legacy!!
- 02:32 PMreverselonghey guys i just finished another episode on my podcast for this memorial day. again, this is for my own personal growth. im not selling anything or looking to do so in the future whatsoever: https://thefriendlybear.buzzsprout.com/
- 03:00 PMFluffyLycanalageeletrade has a FINRA fee of 0.000119 per share (which adds up when trading sub penny stocks with 100k+ shares), plus a Section 31 fee of 0.0000051 x entire principal amount, plus an additional 4.95 if it's an OTC (unless you negotiate a lower OTC fee). I don't think they have control over the FINRA or Sec31 fees
- 03:24 PMTrade4Charityin the youtube Tim G talks about his habit of not cutting losses quickly. So if He gets it wrong at times, whom I not to use that as my #1 rule. Cut Losses quickly
- 03:25 PMTrade4CharityCut Losses quickly. #1 rule.
- 03:57 PMoriginalkeithbAlso trade recaps
- 04:00 PMoriginalkeithbIs your username chosen because you like the strategy you know the reverselong strategy in tt2 chapter 7?
- 04:04 PMoriginalkeithbVery complicated to explain, give me 5 minutes i will copy and paste the criteria
- 04:12 PMGrandPatzerHello folks, I am trying to upload trades direct from broker, but that service is still down on Profitly. I understand that this is a system-wide thing that the site developers are working on. Did anybody get any info on when this will be back up and running?
- 04:21 PMoriginalkeithbreverselongA reverse long is a recent runner that has a minimum of one red day where you take advantage of a bounce at the open. Here is the criteria: 1. Large original run minimum 300% 2. Use equation (high – low)/low x 100 low=before run started, high =top of parabolic candle during market hours 3. Stock must have at least one red day 4. Stock must be liquid (min 7m M traded the previous day) with decreasing volume day by day 5. Low liquidity ruins pattern and all you get is sideways fade 6. Stock has
- 04:22 PMoriginalkeithb6. Stock has no large offering which decreases bounce potential 7. Stock cannot gap-up over 20% 8. At the open stock must put in an initial high and pull back and then retrace back to the high and that is where you enter
- 04:22 PMoriginalkeithbanyway its complicated
- 04:23 PMoriginalkeithbbasically your getting in long based on momentum induced by shorts covering and dip buyers
- 04:28 PMoriginalkeithbso basically after the open you wait for an initial high and a pullback and you do not buy the dip you just wait at least 5 minutes minimum for the stock to go back to its initial high-thats where you enter and set your risk based on the support from the pullback, but if the initial high is 20% more than the open price its a no go
- 04:29 PMoriginalkeithbreverselongyeah and $amc almost meets the criteria if you use the the 10 day low and fridays high its up like 280%
- 04:38 PMoriginalkeithbreverselongso ideally at the open AMC would gap up -put in an intial high and pullback and i would have to wait at least 5 minutes to buy the break of the high and risking off low of day.. and then of course I would be paying myself along the way up
- 04:41 PMPointsoriginalkeithbVery interesting ty, sounds similar to why i was looking for the bounce on SBFM Friday after learning from GGII fades and pops....solid R/R pattern in there somewhere.
- 04:44 PMoriginalkeithbok did it bounce?
- 04:45 PMoriginalkeithbat the open did it behave like the pattern i mentioned?
- 04:47 PMoriginalkeithbnvm i looked at the chart
- 04:48 PMoriginalkeithbi see nice
- 04:48 PMoriginalkeithbgotta go later
- 05:51 PMSavage_lifterBest buy has memorial day deals @Androo
- 06:07 PMkingoceanboygreat day to observe the weekly and monthly candles on my watch list.
- 06:09 PMkingoceanboystudying $LEDS monthly right now. Massive volume spike in MAy
- 07:05 PMNHOptimistHello friends. My main interest for Tuesday morning is going to be AMC. I have swung 228 shares with a 27.58 Average. I sold all of my previous lower cost shares. With all of the chatter, I'm thinking that we get another run up PM and at the open. I will likely add to my position PM if they are still holding in the 25s. If it runs up early; I will likely sell my existing position and look for a dip to re-enter. If it fades at the open; I'm ready to add to my 228 shares. Just thinking out
- 08:18 PMoriginalkeithb$VTNR does not as of yet meet the criteria for a "reverse long" strategy but it is already a candidate after it puts in its first red day
- 08:18 PMAkaYoyoTradesanyone here also having trouble to verify trades?
- 08:20 PMAkaYoyoTradesanyone here also having trouble verifying trades?
- 08:22 PMMikeySaghbinilooking like cannabis sector is gonna pop
- 08:23 PMMikeySaghbiniim back in, i like $ogi, and $cron daily chart, ill buy the dip tomorrow and hold for a multiday continuation
- 08:34 PMMikeySaghbinioriginalkeithbi loaded up on some $ogi before bell closed, if it dips im gonna add more
- 08:39 PMMikeySaghbinioriginalkeithbYes i do, i love TOS, i dont actually use TD anymore, i use IBKR, but im still using TOS to do all my homework and charting to make my trading decisions
- 08:40 PMMikeySaghbiniits annoying but it works, just gotta do more clicking to get through browsers
- 08:42 PMoriginalkeithbMikeySaghbinisomebody posted a TOS watchlist of all cannabis related stocks did you get it?
- 08:58 PMTravis_RiosNot much, just finished solidifying plans. Only ganna be around before 10 tomorrow so we'll see if make any trades
- 09:00 PMlanegsbooriginalkeithbThe pattern that reverse long is using is very similar to the pattern that Grittani is using
- 09:01 PMoriginalkeithbi watched a few times today
- 09:02 PMoriginalkeithbits tricky strategy
- 09:03 PMoriginalkeithbat first i thought it was a second red day strategy but it could be the third or fourth red day because the morning reversal could occur at any time
- 09:07 PMoriginalkeithband also at the open when the stock puts in a high he says wait for the pull back and at least 5 minutes for it to break, but what if it pulls back and consolidates for hours and then breaks the initial HOD i suppose you still enter right?
