As I said in the previous episode, I love to learn from the lessons of yesterday. The lesson was that I missed out because I didn’t borrow stocks ahead of the time.
Today I had a pretty good day - I took a gain on CGIX. It was a low float stock - 1.6mln. Low float stocks tend to be radical as they go up and down momentarily. I noticed that the company had a ton of warrants (I check that kind of information through https://www.bamsec.com/). I also knew for a fact that it was about to rotate the float because it was trading pre-market at a half.
So I decided to borrow and pay for these shares right then. It cost me 8 cents a share, but it was ok. But this is the thing - I borrowed without knowing if I’d be able to trade them after all. I generally don’t like to trade low floats in the morning because the odds are not on my side. I normally don’t mess with low floats because I don’t like to deal with high volatility when the price goes from $2 to $7 and back within seconds.
However, I discovered a strategy that works for me well in the afternoon. At first, I took a small loss of 1R and then made an overall gain of just over 3R. But to get this gain, I waited until the very end of the day.
Watch the whole video to see how exactly how I managed to get over 3R on this trade and what lessons I learned from it. You can also see the chart and the detailed breakdown of this trade in this post.
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JJ has been trading for 9 years full-time!
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Trading success can be broken down into a few pillars. Jay, a trader for over 20 years explains what those pillars are and how you should approach trading in order to find success. Jay is a OTC trader who has been successful for many years. What is so cool about Jay is that he only trades the last 30 mins of the day. Yes, he is a full-time trader but, with this type of time commitment, you could easily do this while working a full-time job too!
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Craig went from the normal 9-5 full-time job to working for himself as a day trader.
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Long bias strategies can be much easier when you understand the WHY behind the move and that way you can position yourself preferably before the move happens. No we are not talking predicting, well its more so of really stacking the odds in your favor because you understand the process of the move itself. Roland Wolf is a friend of mine and great long-bias trader who knows when to buy and where! He dives deep into where to buy in today's episode, so enjoy!
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Finding a real trading mentor can be difficult especially when tons of traders are reaching out to these traders asking for help. How do you stand out from the crowd? How can you find a trading mentor yourself? Follow Brian Lee's process and I believe you will be able to stand out from the crowd.
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Chris Camillo is a great trader who has been verified on many different channels. I was so excited to bring him in because his story is way different then most traders. He doesn't care about price, stop losses, and in fact maybe even likes adding to losers...yeah the exact opposite of what most say or what you might hear. I hope you enjoy today's episode as much as I did making it.
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Day trading strategies are typically patterns or have to do with some type of indicator, however, in today's episode you will find a whole new way to find and define a strategy. GLITCHES, as what Dave calls them, are everywhere, you just need to learn how to look for them. Dave and I dive deep into many examples of multiple trading Glitches with the hope that you can understand how to find them for yourself in the future! Also you may find that some of these glitches still exist and trade them! Happy Trading!
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Goshawk Free back testing guide
Building a $100k strategy takes a process. A process we will be diving into today in detail with my good friend and trader who actually has 3 algo's running by themselves and also trades with his own discretion with systematized back tested results. The great news is, I was also able to convince him to release a free guide to help you get started right away.
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Jay is a full-time OTC long-bias day trader who has been trading for 20 years. He has gone through many different markets where his plays disappear and come back from time to time which is why I wanted to bring this veteran trader on today. So many of us find a strategy and then can't stay patient when it gets slow. You must learn patience if you want to succeed and become a profitable trader. The best traders learn how to wait and sit on their hands until their EDGE is PRESENT.
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