Mike gives a little golden nugget every single video, it’s crazy. I’m still young by time I’m 21 I should be a millionaire and it’s thanks to smb and mike no doubt! Just a couple months of watching you guys turned my trading career and psychology a complete 180 for the better, couldn’t thank you guys enough!
Thank you guys for all of this precious information. I paper trade for about 4 month and as soon as i begin to listen to your videos and put it to practice i make a huge step forward.
I wish I heard those words from Mike years ago... I would have written down my trades more thoroughly and put more effort into collecting/interpreting my trades rather than "hunt for the next homerun". Great stuff!
My feedback is; I see a little complicated trade. Can be more simple. We humans over complicated things as Leonardo Da Vinci said: Simplicity is the ultimate sophistication. Good video and good trade!
Read my comment, it reflects the same thing. All this complicated trading strategy that out there is unnecessary, and probably is the main reason for the high failure rate in day trading. It is certainly the main provider of income for the sellers of trading education materials....
For day trading and scalping, I mostly just play the PM runners, in the PM, and after the open. There are PM runners everyday. And there are also intraday news runners that my scanner picks up, so I just long the run, then short the inevitable fade, after the rollover. There's always something running somewhere, a good scanner will pick it up, just play it. I don't use VWOP, EMA, lines Fibs, or any of that. I'm not saying it doesn't work, I just never found any of that necessary. To me it just makes a Rube Goldberg out of Occam's Razor. I think all the complicated TA that is pushed out there is why day trading has a 95% failure rate, although it makes those who sell it a lot of money. Spend a few months watching 1 minute, candle price charts, and learn how prices move. And pay attention to what you are trading as far as %ROI. Cheaper stocks almost always have a higher %ROI when day trading. A $2 stock moving 20 cents is the same %ROI as a $200 stock moving $20, for example. $2 runner stocks often move 20 cents in a minute or two...how long does it take for a $200 stock to move $20? You would be lucky to get that in a day. Cheap stocks often move 25% to 100+% ROI in hours or less. Why waste time trading BA, or TSLA, or some other high priced low %ROI stock? It doesn't matter the quality of the company, it is a scalp or day trade, not an investment. The next day it will be a completely new set of tickers to trade, and yesterday's tickers will be forgotten. Prioritizing %ROI when choosing what tickers to trade is crucial to building your account value, and maximizing your profits. I've brought this subject up to many experienced traders over the years, and most don't get it. Well, TSLA to them!
@@anderso7784 I use Trade Ideas for scanning. Trade Ideas has pre-configured scans, including for PM. You can customize that scan and put in your own parameters, like I scan for $1 to $15 stocks, but I have scans for $25 to $30 also. I don't trade stocks over $60, they usually have a lower %ROI after that. If you don't want to pay for TI, you can get it for free from Ripster's YT channel. He does a daily TI pre market scanner, then he switches it to a regular market TI scanner, and leaves it going all day. He is also on Twitter, @Ripster47, if, like me, you hate doing DD, but you want to get great calls on swing plays. @super1NYC also puts out a PM runner chart every morning on Twitter (usually twice before market open), and you can play those. %ROI means the percentage of Return On Investment. So if you use say 10K (your investment), to buy shares to make a trade, what stocks will give you the highest % profit on that 10K? If you buy a $2 stock with that 10K, you will get 5K shares. If the stock moves only 20 cents, you will make $1K profit on the trade. If you buy a $200 stock, you will get only 50 shares. The $200 stock will have to move $20 for you to make $1K on the trade. The $200 stock will likely not move $20 in an entire day, but a $2 stock, especially if it is a runner, often moves 20 cents (long or short), in a few minutes. So with only 10K of investment, you could make 1K in a few minutes. If you bought TSLA with the 10K, you would only get about 15 shares.TSLA would have to move about $66 to make you 1K of profit. If you scalp in and out of these cheap runner stocks all day, you could make really good money with even only 10K of trading power. Thinking about %ROI when you decide which stocks to day trade, is most important.
@@guyredares I do use indicators...a few different candlesticks, a few chart patterns, and pattern recognition. The rest is just intuitive, based on staring for 1 minute price charts for thousands of hours. If you specialize in PM and daily runners, after enough time you will begin to recognize patterns repeating themselves, and you will also know how stocks move, based on the event that has made them hot at that moment. I never care when a stock goes higher after I exit a Long position, or lower when I am short...most of the time they do. If a trader cares about those things they are already doomed to failure. That failure may come quick, or it may take a long time, but they will fail. It is fear and greed (emotions) that cause most, if not all, of trader failure. It is not lack of knowledge, or not selling at the top. If I buy for $3 and sell for say $3.50 or $4, I don't care if it goes to $10. Scalping is not about home runs. Trading for home runs will end your trading career quickly. If a stock keeps running after in exit a trade, I can always get back in if it looks like room for more profit. Or I can simply wait for the inevitable roll over when the momo runs out, and short the fade. Shorting is my specialty anyway. The %ROI is better, and usually faster. You never heard that phrase before because I made it up....
Love breakout trades and Yanni certainly did a great job aligning his idea with the necessary variables needed to make it successful. I really enjoyed hearing Mike fired up! Was a very different side of a man I couldn't respect more and it motivates me to keep pushing to be the best I can be. Maybe he s fired up because he hasn't caught a spring training game yet lol? I took my family to the Jays vs Phillies yesterday and thought about ya Mike!
Amazing video again.. I swear somehow the quality of your content is getting better and better.. Really love how Mike was able to give concise but broad feedback for Yanni that also benefited all the viewers. Respect.
"You can't correct what you don't track" a former manager used to say to us. I think if anyone wants to play on a level like Kenny or SWang, that it the way to go. To be lazy will get you wiped out in the market in a heartbeat. Now with that being said, WOULD SOMEONE GIVE MIKE A BIG BRO-HUG PLEASE, seems like something got under his skin that day and he needs some cheering up :D. Oh and not to forget, well done Yanni! with that kind of work attitude, you bill be one of the big ones in no time!
Great Video! and Great Work guys! One thing that Im curious about is what RVOL, Short Interest and Volume parameters you use for your scanner/ trades? Thanks
Reddit boards!? Ha! Haaaa! I think you should've said something Bella. But this Trader is really on point with his homework and variables. He dove right into the heart of his stats about the company and sector. Back to the beginning, you are not harsh at all. I think telling traders the honest to God truth is what it has to be. You can't be a trader without backtesting and doing your homework and just doing the work. It just won't happen. My name for this trader is "Stealth"
Very nice n detailed trade discussion. Well done Yanni and Mike. Mike, in terms of variables, what are say 3 key differences between the "Breakout Trade and Opening Drive" trade? Thanks. Kirby
Fantastic contribution by SMB team. There is always something or other to learn from SMB videos. What is the RVOL period used? 14 or some other proprietary number.
RVol compares the current volume to normal volume for the same time of day. For example, if xyz stock trades 3 times its normal, average volume, we have a RVol of 3. So, that means that it is all in all a varying indicator, depending on what time(-frame) you are looking at and what you want to capture. Does that answer your questions?
Hi Bella,Thanks for the insightful video! I get that we should track the variables at the time we took our trades. But, does SMB also check their statistical significance? For example, insider holdings as % of float may/maynot be significant for intraday trades.
Ok good the intern rattles off lots of jargon...I actually do trade several times a day....where is the "textbook" or 500 textbooks on this? I'm very curious how to learn this trade Sincerely, Thanks
So curious that you won't play his previous videos and learn this answer? So curious that you won't put in that minute amount of effort? If I tell you that I really want to lose weight, more than anything... But you catch me bringing junk food into the house and not exercising... Do I really want to lose weight?
i dont like putting too much into consideration on fundamentals because everytime theres news on a stock it gives a bias and having a bias in my trading affects my performance and results, when i just scalp with volume and the tape ive been profitable, of course its important to know whats going on but i never put fundamentals into consideration when placing a trade.
I thought he did an amazing job 👏 with this trade and it's actually tought me a few VERY key areas that I need to work on along with Mike's very to the point why you do what you do saving this one to re-watch for sure thanks guy's 👍
Thanks bella for the review. I’ve learned so much as an intern these last few months, I look forward to many more!
👊
Mike gives a little golden nugget every single video, it’s crazy. I’m still young by time I’m 21 I should be a millionaire and it’s thanks to smb and mike no doubt! Just a couple months of watching you guys turned my trading career and psychology a complete 180 for the better, couldn’t thank you guys enough!
that would be awesome! keep it up :)
Thank you guys for all of this precious information. I paper trade for about 4 month and as soon as i begin to listen to your videos and put it to practice i make a huge step forward.
I love the straight, blunt talk.
I wish I heard those words from Mike years ago... I would have written down my trades more thoroughly and put more effort into collecting/interpreting my trades rather than "hunt for the next homerun". Great stuff!
Never too late Steven
My feedback is; I see a little complicated trade. Can be more simple. We humans over complicated things as Leonardo Da Vinci said:
Simplicity is the ultimate sophistication.
Good video and good trade!
Read my comment, it reflects the same thing. All this complicated trading strategy that out there is unnecessary, and probably is the main reason for the high failure rate in day trading.
It is certainly the main provider of income for the sellers of trading education materials....
Appreciate the feedback Gad
I traded AAL on this day as well. Very interesting how different a stock can be traded. Thanks for this video.
👊
For day trading and scalping, I mostly just play the PM runners, in the PM, and after the open. There are PM runners everyday. And there are also intraday news runners that my scanner picks up, so I just long the run, then short the inevitable fade, after the rollover. There's always something running somewhere, a good scanner will pick it up, just play it. I don't use VWOP, EMA, lines Fibs, or any of that. I'm not saying it doesn't work, I just never found any of that necessary. To me it just makes a Rube Goldberg out of Occam's Razor. I think all the complicated TA that is pushed out there is why day trading has a 95% failure rate, although it makes those who sell it a lot of money. Spend a few months watching 1 minute, candle price charts, and learn how prices move.
And pay attention to what you are trading as far as %ROI. Cheaper stocks almost always have a higher %ROI when day trading. A $2 stock moving 20 cents is the same %ROI as a $200 stock moving $20, for example. $2 runner stocks often move 20 cents in a minute or two...how long does it take for a $200 stock to move $20? You would be lucky to get that in a day. Cheap stocks often move 25% to 100+% ROI in hours or less. Why waste time trading BA, or TSLA, or some other high priced low %ROI stock? It doesn't matter the quality of the company, it is a scalp or day trade, not an investment. The next day it will be a completely new set of tickers to trade, and yesterday's tickers will be forgotten. Prioritizing %ROI when choosing what tickers to trade is crucial to building your account value, and maximizing your profits. I've brought this subject up to many experienced traders over the years, and most don't get it. Well, TSLA to them!
Rich Nolan, could I ask how you set up your scanner to pick up these runners? unusual volume etc? What do you mean with %ROI? Regards Anders
@@anderso7784 I use Trade Ideas for scanning. Trade Ideas has pre-configured scans, including for PM. You can customize that scan and put in your own parameters, like I scan for $1 to $15 stocks, but I have scans for $25 to $30 also. I don't trade stocks over $60, they usually have a lower %ROI after that. If you don't want to pay for TI, you can get it for free from Ripster's YT channel. He does a daily TI pre market scanner, then he switches it to a regular market TI scanner, and leaves it going all day. He is also on Twitter, @Ripster47, if, like me, you hate doing DD, but you want to get great calls on swing plays.
@super1NYC also puts out a PM runner chart every morning on Twitter (usually twice before market open), and you can play those.
%ROI means the percentage of Return On Investment.
So if you use say 10K (your investment), to buy shares to make a trade, what stocks will give you the highest % profit on that 10K? If you buy a $2 stock with that 10K, you will get 5K shares. If the stock moves only 20 cents, you will make $1K profit on the trade. If you buy a $200 stock, you will get only 50 shares. The $200 stock will have to move $20 for you to make $1K on the trade. The $200 stock will likely not move $20 in an entire day, but a $2 stock, especially if it is a runner, often moves 20 cents (long or short), in a few minutes. So with only 10K of investment, you could make 1K in a few minutes. If you bought TSLA with the 10K, you would only get about 15 shares.TSLA would have to move about $66 to make you 1K of profit.
If you scalp in and out of these cheap runner stocks all day, you could make really good money with even only 10K of trading power.
Thinking about %ROI when you decide which stocks to day trade, is most important.
@@richnolan8123 you make it sound so easy..
@@guyredares I do use indicators...a few different candlesticks, a few chart patterns, and pattern recognition. The rest is just intuitive, based on staring for 1 minute price charts for thousands of hours. If you specialize in PM and daily runners, after enough time you will begin to recognize patterns repeating themselves, and you will also know how stocks move, based on the event that has made them hot at that moment.
I never care when a stock goes higher after I exit a Long position, or lower when I am short...most of the time they do. If a trader cares about those things they are already doomed to failure. That failure may come quick, or it may take a long time, but they will fail. It is fear and greed (emotions) that cause most, if not all, of trader failure. It is not lack of knowledge, or not selling at the top.
If I buy for $3 and sell for say $3.50 or $4, I don't care if it goes to $10. Scalping is not about home runs. Trading for home runs will end your trading career quickly. If a stock keeps running after in exit a trade, I can always get back in if it looks like room for more profit. Or I can simply wait for the inevitable roll over when the momo runs out, and short the fade. Shorting is my specialty anyway. The %ROI is better, and usually faster.
You never heard that phrase before because I made it up....
@@eleninucsoreanu2923 It is in all ways, except emotions. That is the most important thing to overcome....
Thanks SMB and Yanni! This is one of the best playbooks I've seen. Amazing variables!
Much appreciated!
Love breakout trades and Yanni certainly did a great job aligning his idea with the necessary variables needed to make it successful. I really enjoyed hearing Mike fired up! Was a very different side of a man I couldn't respect more and it motivates me to keep pushing to be the best I can be. Maybe he s fired up because he hasn't caught a spring training game yet lol? I took my family to the Jays vs Phillies yesterday and thought about ya Mike!
Amazing video again.. I swear somehow the quality of your content is getting better and better..
Really love how Mike was able to give concise but broad feedback for Yanni that also benefited all the viewers.
Respect.
Much appreciated!
Never miss such reviews. Have learned a lot from reviews and bella's books also.
that was a very well written coherent explanation, your hired!
not so fast. he has to be invited to be a Senior intern and then stand out there.
@@mbellafiore19 yessir Mr Bella, your absolutely right
This junior intern is better at trading than my 21 years of trading blind.
And why you trade 21 years blind. Tats half a lifetime for someone who lives till 41
Thanks again. Always learn from these videos.
👊
"You can't correct what you don't track" a former manager used to say to us. I think if anyone wants to play on a level like Kenny or SWang, that it the way to go. To be lazy will get you wiped out in the market in a heartbeat. Now with that being said, WOULD SOMEONE GIVE MIKE A BIG BRO-HUG PLEASE, seems like something got under his skin that day and he needs some cheering up :D. Oh and not to forget, well done Yanni! with that kind of work attitude, you bill be one of the big ones in no time!
Just coaching Sebastian. Thxs for looking out for me
Excellent break down of a trading strategy. Thank you so much for sharing.
of course!
Great Video! and Great Work guys!
One thing that Im curious about is what RVOL, Short Interest and Volume parameters you use for your scanner/ trades?
Thanks
Reddit boards!? Ha! Haaaa! I think you should've said something Bella. But this Trader is really on point with his homework and variables. He dove right into the heart of his stats about the company and sector. Back to the beginning, you are not harsh at all. I think telling traders the honest to God truth is what it has to be. You can't be a trader without backtesting and doing your homework and just doing the work. It just won't happen. My name for this trader is "Stealth"
I like it
Yanni is going in the right direction to become a potential good trader!
Keep it up! 👍
Hope so!
You tell em Mike! 👍
Really appreciate these videos! This is quality content, every week.
thank you Levi
Glad you like them!x
What is a piker? Lol. This video is one for the books. Thank you SMB
Very nice n detailed trade discussion. Well done Yanni and Mike. Mike, in terms of variables, what are say 3 key differences between the "Breakout Trade and Opening Drive" trade? Thanks. Kirby
Fantastic contribution by SMB team. There is always something or other to learn from SMB videos. What is the RVOL period used? 14 or some other proprietary number.
RVol compares the current volume to normal volume for the same time of day. For example, if xyz stock trades 3 times its normal, average volume, we have a RVol of 3.
So, that means that it is all in all a varying indicator, depending on what time(-frame) you are looking at and what you want to capture.
Does that answer your questions?
@@JensKlattTrading Thanks a lot for making it clear.
Hi Bella,Thanks for the insightful video! I get that we should track the variables at the time we took our trades. But, does SMB also check their statistical significance? For example, insider holdings as % of float may/maynot be significant for intraday trades.
yanni's killing it!
This is a great video. Every part of the video is very detailed and easy to understand.
Glad it was helpful!
Another great video. Do you any info to provide on Futures Scalping?
Still Lovin these videos. Thanks team
More to come!
Consolidation above VWAP, start of the the Big Dawg.
How much profit does a trader topically make a day at smb? What type of quantity does a trader look to take when getting a favorable position?
every trader is different. every day is different.
Great video! Also, I hate to be "that guy", but I'm going to be: what is the heat/thermo moving average indicator on those charts?
@Yanni Nicolaides might be able to respond to your question
This was really valuable insight. Thank you!
love hearing this
Glad it was helpful!
Excellent work!
Many thanks!
Ok good the intern rattles off lots of jargon...I actually do trade several times a day....where is the "textbook" or 500 textbooks on this?
I'm very curious how to learn this trade
Sincerely,
Thanks
So curious that you won't play his previous videos and learn this answer?
So curious that you won't put in that minute amount of effort?
If I tell you that I really want to lose weight, more than anything...
But you catch me bringing junk food into the house and not exercising...
Do I really want to lose weight?
Great video! 👏👏
Thank you! 😃
i dont like putting too much into consideration on fundamentals because everytime theres news on a stock it gives a bias and having a bias in my trading affects my performance and results, when i just scalp with volume and the tape ive been profitable, of course its important to know whats going on but i never put fundamentals into consideration when placing a trade.
thx guys.
you got it
Wow Bella, brutal. But honest. Refreshing :)
Yanni is the best trader 🙂
🐐
Nice Yanni
thx!
What did he use to see the otm flow?
Thanks
I thought he did an amazing job 👏 with this trade and it's actually tought me a few VERY key areas that I need to work on along with Mike's very to the point why you do what you do saving this one to re-watch for sure thanks guy's 👍
thx Ron!
Why is the ADA hourly chart the thumbnail
hahah wow good eye there ;)
i wouldnt have done half that work for a 10% 20 dollar equity. maybe thats not good on my part but i dont consider that a technical breakout trade
his trade mechanics though are definitely on point
The work isn't about the current trade, it's about the _next_ one. It's the pursuit of excellence, the profit is a byproduct
I would like to earn a spot as a funded trader one day soon
keep the heat on :-) em
Always!
👍
Yanni for President !
Much easier way than that. I get it before it breaks vwap. I'll challenge the top trader in your firm
people will be kicking themselves in regrets in a few weeks if they miss this opportunity of buying and investing in Bitcoin