Morning folks. We have some new members in today that havent traded with us before so its going to be a fun 2 weeks as we meet some new friends and have some new trading idea flow also!
A quick note on how our chatroom works. We tend to trade fast. As you guys see me on twitter i move quick sometiems very quick. Its important not to get caught chasing stocks when i just throwing out alerts. Often before i buy a stock I will say “xyz” on”watch” or on “radar” taht means i like this stock and am looking for entry. this is a good time for you to do your own research pull up the stock and take a look yourself. Often if you wait to pullit up after my buy alert the stock will be goooone up too high as im picking inflection points where stocks can move.
Never chase a stock in chatroom thats moved more then 1% past the buy price. They often will come back to that spot in a few minutes.
Make sure to match fractals and timeframes.
I label my trades scalps, daytrades, swings, longtermswings
Scalps mean it might be 30 seconds to 30 minutes. if you plan on leaving your desk or ahving meetings this trade might not be good for you as you could come back and the stock has completely changed. Daytrades tend to be longer then a few minutes and could go to the end of the day. Often if a stock tahts a daytrade closes at highs with big volume that day and the chart is still saying breakout then I will hold some of it partially for the next day and go for the homerun. Swingtrades: these can be 1-3 day short swings. I set my stop have a target and i set it and forget it. I dont watch every tick on these stocks unless they are running like a momo breakout if it is then i might have to sell some and switch partial of it to a daytrade but i will still swing some into the night. Longterm Swingtrade is a stock that might take more then 3 days and hold it for weeks. Its great style for partime traders with jobs. if you ahve a job and check the email alerts and see “longterm swingtrade” thats a stock that im putting ina longterm portolio and plan on holding a bit. it requires the least micromanagement. Due the style i trade these can also hve tremendous returns and often if i dont get stopped out of them thjey have a chance to get 10-20% gains but they require patience.
remember to alwasy match ur fractals and timeframes. if your a daytrader then adding one of my swings wont do you any good unless you want it to be a swing. If your a swingtrader then playings stocks meant for scalps wont do you any good unless you want it to be a scalp.
otherwise have fun! help each other. Many of us have been together for the past 2 years fighting the good fight. Make sure to always listent o @urbanryno @szaman @mb_willoughby @davcro these guys are real pro’s and have a world of knowledge.