First a comment before my question ... I really appreciate your videos of the Opening Breakout Range, or even buying on a pullback, including the explanation of how you determine the range, how you use the 9 min and 20 min EMA lines, and use the parabolic dots as guides. One of the biggest problems for me is knowing the right time to enter (exit I'm usually ok if the entry is right), and your detailed explanations of additional indicators that can help with entry and exit setup will improve my
Question: I live in Germany and have a day job, so usually not home yet for the market open. Do you have a similar setup to the opening breadout / breakdown range that you use for afternoon setups? For instance, instead of looking at the first green and red 3 min candles after the open to set the range, could you use the 3 min first green and red candles at 1400, 1430, or 1500 and get similar results, albeit usually not quite as volatile? Thanks for your thoughts.
If you are looking at a stock and it is on your watchlist, but it doesn't play out the way you wanted it to. Do you keep it on your watchlist list until your set up comes up or do you take it off?
Depends on if its a former runner or not
@King_of_Spades congrats! which broker are you using now?
Thanks everyone! I am still using suretrader, maybe someday I can get interactive brokers
Nice man, keep it up!!
Support and Resistance. Keep looking at the charts, eventually, something will click and you will get it. Keep telling yourself where you would buy and where you would sell if you did enter a position. You'll get there!
Hard to answer...start with Dashboard...all Tim's basic videos...do what he suggests skipping nothing...have U seen many of his videos under "categories" on the Dashboard? Check Y Finance % gainers dailey...add to watchlist...look @ chart patterns, pick ur favorite & do DD on it on Finviz.com, analyze it according to Sykes' new Traders checklist (watch 11 hour free DVD), give it a score, use TD Ameritrade Think or Swim & paper trade it...keep record of how you do (very important to track your c
consistancy), profit.ly transparency will keep track for you if you verify real trades...never stop studying this is a marathon, not a sprint...it takes commitment with constant refining. Good Luck.
Additionally they teach you alot about reading what you see on your screen at all times.. and another good supplement Id recommend is http://vultictraders.com/ tell Him Kraig Sent you .. between those two im confident that when I reboot my account ill be profitable 85-90% of the time my paper trading proves that .
Good luck.. let me know if you want or need any more advice... obviously Ive lost a lot of money already... But ive learned alot and 50% or more of my losses were before I learned with tim and some of it was technical malfunctions and then what finished me was the Holiday and not understanding sympathy plays.. id be happy to share my experiences with any trader I can
thanks for the advice, i will look into those things, thanks again
On the scan, it's pre-market activity that you're pulling. The big gains already happen, that's where waiting for the dip to buy comes in, continued high volume is important too. $GPRO was a recent exception to pre-market. Rumor came about 10:30 ish. (had to jump in quickly). WTW and KBIO were billionaire plays with days of opportunity to play. We just need to be ready for the next one. I'm guilty of chasing stocks but a big loss reinforces the rules: Cut losses quickly and wait for the trade t