YT YouTube2Text

YouTube2Text → Transcripts → Ultimate Beginners Guide to Timing Entries & Exits for Momentum/Trend Trading

Ultimate Beginners Guide to Timing Entries & Exits for Momentum/Trend Trading — Transcript

by Ross Cameron - Warrior Trading · 14,336 words · 2,238 segments · language en · Watch on YouTube

Open in transcriber Summarize with AI Download SRT/VTT

Full transcript

0:07all right what's up everyone
0:10thank you guys all for tuning in uh so
0:12this is gonna be a live broadcast and uh
0:15we've got uh a bunch of folks that are
0:18already tuned in so thank you to
0:20everyone tuning in live those that are
0:22watching this
0:23days later weeks later months later
0:26years later whatever the case says thank
0:28you for tuning in you're welcome to post
0:30comments uh down below i do respond to
0:33every comment post on the channel so you
0:36please i should feel free to ask
0:37questions if i can help in any way
0:40clarify anything that i'm talking about
0:41today today's topic is entries and exits
0:44for momentum day trading this was by
0:47popular demand so i put out a survey and
0:50asked uh what
0:53you'd like me to teach a class on right
0:54now we've got a number of
0:57classes i'm scheduling for this month
1:00this is our anniversary month of uh when
1:03i began uh providing educational content
1:05we've got almost 10 million views on the
1:08most popular video so we've got some
1:10exciting things we're doing this month
1:11and this video is um one of the first so
1:16thank you guys for tuning in to get
1:17things off to a great start i'm gonna
1:19donate a dollar for every person that
1:22hits the thumbs up during this live
1:25broadcast and i will donate two dollars
1:27for every person that shares during this
1:30live broadcast and i will continue to
1:32donate for people watching later
1:35up to twenty five thousand dollars so
1:37i'll be donating twenty five thousand
1:38dollars to charity
1:40uh some of that will be
1:42uh today and the rest will be spread out
1:44over the coming uh months and
1:47weeks and months i suppose as long as it
1:49takes uh to get up to twenty five
1:51thousand dollars
1:52so thank you guys if you want to donate
1:54uh today you can donate through me by
1:56hitting the thumbs up it's that easy and
1:58i also want to let you guys know that
2:01uh during this
2:03class this is a mini class this is an
2:05excerpt from the curriculum that i teach
2:08for subscribers over at warrior trading
2:10so
2:11during this mini class i'm going to be
2:14showing you a bunch of live trading
2:17archives so these are
2:19examples of me trading with real money
2:21you can see my order entry window you
2:23can see everything and if you want to
2:26download a few of these live trading
2:28archives so you can watch them on your
2:30own time replay them watch them again
2:32and again i'm going to give you a link
2:34where you can do that so let's see um
2:38i have
2:39to do
2:41and actually what we'll do is we'll pin
2:42it to the top of
2:44the comments
2:46for those watching this
2:48later so you guys can see that link real
2:50quick and i will also put it uh
2:54at the top of the comments for the live
2:55chat
2:57all right so uh right here on this page
2:59if you click on this page you will get a
3:02copy of live trading archives all right
3:05you'll get a copy of my small account
3:07strategy worksheet a copy of the micro
3:10pullback lesson strategy lesson pdf
3:13and
3:14you'll also get
3:15my pre-trading checklist a special video
3:18on holding losers too long and selling
3:20winners too soon which is something that
3:22many traders struggle with all right so
3:25with that said why don't we go ahead and
3:28jump in to today's topic which is
3:30entries and exits for momentum trading
3:34i'm going to go to full screen
3:38and
3:38i've got my drawing tool
3:41and yes it's working all right so we'll
3:44add some uh graphics here make this look
3:47nice and pretty and let's go ahead and
3:49jump in i'm going to go
3:50full screen
3:52let's see and i'll
3:53remind folks
3:55who perhaps don't already know
3:58the trading is risky i want to make sure
3:59i put my disclaimer out there trading is
4:01risky most beginner traders do lose
4:03money and my results are not typical
4:05having said that it's important that you
4:07know the person that you're learning
4:09from is qualified and
4:11i am uh i will show you let's see um
4:16where's my trader view
4:18i think i had it up here um
4:22looks like maybe i closed it
4:23i have uh over 11 million dollars in
4:26gross profit trading a momentum day
4:29trading strategy that i'll be sharing a
4:31little bit with you today uh just as
4:34as it pertains to entries and exits so
4:36i do think that i'm very qualified to be
4:38speaking on this topic
4:41so if you're out there wondering well
4:43you know is this even real money you can
4:44go over my website warriortrading.com
4:46and you'll see my broker statements on
4:49the footer of the website
4:50all right so uh with that said let me go
4:53ahead and
4:54jump back in here all right so
4:57and back to full screen
5:01so high level before we start talking in
5:05detail about
5:07entries and exits
5:09i want to talk about the momentum
5:10checklist
5:11this is uh pretty important because
5:14the problem that a lot of beginner
5:17traders have is trading the wrong types
5:20of stocks and when you trade the wrong
5:21types of stocks you invariably end up
5:24catching yourself with big losers small
5:28winners
5:29and chasing
5:31chasing setups because they don't
5:33resolve the way you would expect them to
5:36so what is the criteria or what is the
5:38checklist for momentum
5:40well so for momentum you can trade all
5:43day long i wouldn't say that you can
5:46only trade in the morning or you can
5:47only trade in the afternoon you can
5:49trade momentum at any time of the day
5:52however i've always found that the first
5:53two hours are the best and that's
5:56uh you know it used to be from 9 30
5:58until about 11 30 and more and more so
6:01it's starting pre-market so from 7 30 8
6:05until 10 30 11 11 30 is still pretty
6:08good cut off but pre-market i'm trading
6:118 8 30 9 a.m before the market even
6:14opens now if you're not sure how to
6:15trade before the market opens
6:17i have a separate video where i talk
6:19specifically about that so
6:21don't worry i can answer that question
6:22for you separately but
6:24uh generally speaking i would say the
6:26best time of day to be trading
6:27aggressively is early earlier is better
6:30all right
6:31so now what type of stock do you want to
6:33be trading
6:35if you're focusing on momentum and
6:37you're looking for stocks that have the
6:38percentage or the
6:40potential to make big percentage gains
6:43you're going to be looking for lower
6:44float stocks
6:46so one of the things that i found in my
6:47career is that you're never going to
6:48capture the entire move if the stock
6:50goes up
6:51you know 50 you're never going to
6:53capture the full 50
6:55you'll capture a small piece of that
6:57so if a stock is only going up four or
6:59five percent a small piece of four or
7:01five percent
7:02even if you're using leverage even if
7:04you're trading with options
7:06isn't significant you're not going to be
7:07able to make good money so i think you
7:10want to look for stocks that have the
7:11potential to go up at least 10 to 20
7:13percent but really with a target of 50
7:1675 100 or more
7:18so i'm going to pose the question to you
7:22how does a stock go up 100
7:24in one day what
7:26in maybe the past when you've seen that
7:28happen what has been the context around
7:30it what's been the story around that
7:32stock how has that been possible if you
7:34think of uh dwac the
7:38special acquisition company that you
7:40know was slated or is slated to acquire
7:42trump media true social that went from
7:4510 to 175 dollars in two days
7:48was that the type of stock i would like
7:50trading
7:50absolutely definitely and i did trade it
7:53that had a catalyst and it had a
7:55relatively low float the float was 28
7:58million shares
7:59so there were only 28 million shares
8:01available to trade
8:02that's certainly under the 50 million
8:04cut off and
8:06combined with a really strong catalyst
8:08there was a huge imbalance between
8:10supply and demand
8:12and that in turn resulted in very high
8:15relative volume
8:17so relative volume
8:20this is simply
8:21uh oh sorry relative volume right here
8:24this is simply the volume today versus
8:26what is average for a stock over the
8:28last 14 days so if a stock over the last
8:3114 days has been trading on average with
8:32a hundred thousand shares a day and
8:34today is trading 150 000 shares its
8:38volume relative volume is 1.5
8:40200 000 shares would be a relative
8:42volume of two right so and it goes on um
8:45so on and so forth
8:47i focus on stocks with at least two
8:48times relative volume i prefer five
8:50times relative volume
8:53all right so a stock will have five
8:55times relative volume if it's already up
8:5720 30 percent has a great catalyst
8:59that's almost always going to be the
9:00case
9:01ideally for a strong momentum chart
9:04momentum stock we want to see a good
9:06daily chart the daily chart should be
9:08above the 9 ema we also would like to
9:11see it above the 200 ema but if it's
9:13below the 200 ema we'd like to see that
9:15has a lot of room to come up to the 200
9:17ema before it hits resistance there
9:20again
9:20not trying to get into a ton of
9:23technical analysis here in this episode
9:26i have another episode uh that you guys
9:28can check out on um the four indicators
9:31that every trader should be using so can
9:33point you in that direction i'll put
9:34some links to these videos in the
9:35description um
9:37so requirements stock should have a
9:39catalyst or be a former runner which is
9:41a form of momentum stock
9:43price range between a dollar fifty and
9:45twenty but this is applicable on all
9:47price ranges uh dwac went all the way up
9:49to 175 dollars a share so it's certainly
9:52possible that you could trade a higher
9:53price stock uh trading momentum but the
9:56risk is going to be a little bit higher
9:58so how do we find these types of stocks
9:59to trade i find these types of stocks of
10:02trade every single day using scanners so
10:05i use stock scanners to search the
10:07market and i have a couple um right over
10:09here that i can show you
10:11so uh this is a the software that i use
10:14right here
10:15so i can go scanners and
10:18do large cap
10:20i can go to small cap top gappers so
10:23these are the top gappers today in the
10:24entire u.s equities market
10:26if i go to scanners i go to high a day
10:28momentum these are stocks that are
10:30moving up right now in real time so this
10:33is how i find stocks to trade and then
10:35once i've found a stock that i think is
10:37a good candidate because it's got high
10:39relative volume it's up enough it's got
10:41a good float the price is okay the daily
10:43chart looks good then it's time to take
10:45the trade
10:46all right so this gets into entries and
10:48exits
10:50entry is based on a chart pattern
10:53generally speaking you probably already
10:55understood that and i'll go split screen
10:57so you can see those
10:59charts a little bit better
11:00so a chart pattern
11:02is
11:03basically it's a pattern that you are
11:05familiar with that you know consistently
11:08gives you winners
11:10okay so these are just four examples
11:13of chart patterns
11:15in each of these patterns there is an
11:18apex
11:19which is the entry point
11:21the point the price to be
11:23a buyer
11:24all right so in the case of
11:27right here this first example where
11:29we've got this sell-off
11:31the entry is the first candle to make a
11:34new high right here so if you've got
11:36five 10 plus red candles in a row your
11:39entry is the first candle to make a new
11:40high and now some people will have some
11:43questions about that for clarification
11:44so let's look i'm going to go
11:48full screen here all right so
11:50this right here as you can see
11:53is a bull flag
11:55all right
11:56so this stock has squeezed up right here
11:59it's squeezed up up up and then it's
12:01experienced a little bit of pullback
12:03we've got one red candle and we've got a
12:05second red candle
12:07so during this pullback
12:09this is where i might be looking
12:11at the stock and saying i think i want
12:13to buy this now an aggressive trader may
12:15trade during this ramp up right here we
12:18don't know what time frame this is we
12:20could say this is a one minute time
12:21frame and if it is then you know that
12:23right around here was a micro pullback
12:26right around there because you can see
12:28how this candle was a high and this one
12:30opened a little lower which means it
12:31popped up it pulled back just for a
12:32second and gave you a micro pullback so
12:35you can see micro pullbacks on
12:38this little instance right here
12:41so it moves higher it pulls back just
12:43for a second and then it continues all
12:46right sometimes it looks like this and
12:47sometimes it looks like that so a micro
12:50pullback is a totally valid entry
12:52now in this case that would be
12:54aggressive
12:55and so it would be a bit of a more
12:57conservative entry would be waiting for
13:00the pullback to occur
13:01and then buying the first candle to make
13:03a new high now notice i have this dotted
13:05this um this little sort of dotted line
13:08here
13:09as soon as this green candle breaks the
13:11high of this previous red candle
13:14i'm a buyer
13:15now if this candle let's say the high
13:18this candle is five dollars the high of
13:19that red count is five dollars
13:21when this starts coming up if i see
13:24green
13:25on the tape
13:26which is right next to our level two
13:28window if i see green on the tape at 495
13:31496 497 498
13:34i may go ahead and i likely will go
13:36ahead and buy to anticipate the break
13:40through this level
13:42sometimes i'll take a starter 5 cents or
13:44even 10 cents early
13:46and then i will add as it approaches and
13:48comes through that level
13:50i'm then looking for continuation and
13:52resolution of the pattern which in this
13:54case is through the high of day
13:57if i'm feeling aggressive i can go ahead
14:00and add again as it breaks through high
14:02of day
14:03and then as we squeeze up here i make
14:06the decision of either taking profit off
14:08the table
14:09or
14:10if let's say right up here is let's just
14:13say this is
14:14six dollars i may say i'm gonna go ahead
14:17and add for the break of six because
14:19this is parabolic it's moving so quickly
14:23that i have the opportunity to keep
14:24adding because this could go higher and
14:27that type of decision would be based on
14:28the quality of the daily chart the
14:30quality of the catalyst and the flow to
14:32the stock
14:34so
14:35when we're looking at these patterns
14:37these are all these are just examples of
14:38patterns and there's
14:40literally hundreds of different patterns
14:43that you could choose to trade
14:45one of the things that's going to be
14:46important for a beginner trader is
14:49making a decision about which patterns
14:53you want to focus on right i mean
14:55ultimately that's that's an important
14:57component of
14:59of your strategy so as part of creating
15:02a strategy
15:03for reference
15:05so on this page here
15:08this has a pdf of my micro pullback
15:11strategy so the micro pullback strategy
15:14is what we've got going on right here
15:16that's a micro pullback it pops up it
15:17pulls back for a second and it continues
15:19it doesn't even form a full pullback
15:21like what we got right here
15:24or like what we saw right here
15:26these are both stocks trending up this
15:28is a stock trending down and then it's a
15:30reversal trade
15:31all right so this is a very well defined
15:33pullback this is a well-defined pullback
15:35that has a false attempt pulls back and
15:37then goes higher and this is a micro
15:39pullback so if you want to learn more
15:41about those specific strategies that are
15:45around those patterns then you know you
15:48should check this out
15:49if you already have
15:51a strategy that you're sort of trading
15:53but you just feel like your entries
15:55aren't dialed in you're getting in a
15:57little too high
15:59you're not selling it quite the right
16:00place you're not fully maximizing on the
16:03opportunities of these trades
16:05then
16:06when we get into the live trading
16:07archives i think that's going to help
16:08you uh quite a bit
16:10all right so
16:12let's talk about the entry and by the
16:14way for people that are tuning in maybe
16:16a few minutes late to this live
16:17broadcast thank you for tuning in make
16:19sure you hit the thumbs up i'm donating
16:21a dollar for every thumbs up that we get
16:23today up to twenty five thousand dollars
16:25so uh please hit the thumbs up you can
16:27donate a dollar to charity right now
16:29today by hitting the thumbs up and if
16:31you share this video i will donate two
16:33dollars so if you share this video you
16:34can donate two dollars so each one of
16:36you right now can donate three dollars
16:38to charity
16:39all right uh and this is for um
16:41humanitarian causes in ukraine all right
16:44so for people that are in ukraine right
16:45now
16:46so make sure you hit the thumbs up and
16:48make sure you share this video okay so
16:50now let's talk about the entry all right
16:53so what is the apex point of this
16:56pattern
16:57so back to our little case study right
16:59here
17:01the apex point
17:02of this pattern
17:05if this if you're going to take an entry
17:07on the bull flag
17:09then the apex point
17:11is the first candle to make a new high
17:13which is right here
17:14that's the apex point now some traders
17:16would take a high a day break
17:18and if you're taking a high day break
17:20then your apex point is literally high
17:22of day
17:24all right so this could have two
17:26important levels i would say important
17:28levels to watch
17:30this right here and then this up sorry
17:32this right here and then this up at the
17:33top all right depending on which
17:35strategy you're focusing on if you're
17:37taking a high day break you're going at
17:38the top if you're taking first candle
17:39make a new high on the bull flag pull
17:40back then you're entering entering right
17:42there so what's the apex point of this
17:44pattern now if we go back to our
17:46previous slide
17:48you'll see that
17:50this pattern down here
17:53initially
17:54was a bull flag
17:56it squeezes up and then it pulls back
17:59and the first candle makes a new high
18:01right so that's your first entry first
18:03candle makes a new high right there
18:06max loss is the low of this pullback
18:09it goes up but it doesn't break through
18:12the high
18:13okay so this ends up forming a false
18:15breakout
18:16however this is a different pattern as
18:18it continues to consolidate above the
18:21low of this pullback this is what we
18:23would call a longer period of
18:24consolidation it is a wedge we can call
18:27it an abcd pattern
18:29and now we're watching for the price to
18:31break this high right here and then go
18:33through the high a day and what we find
18:35is that when these stocks continue to
18:37trend in these small ranges that
18:38eventually they break they can break out
18:41up or they can break down
18:43right so there's no guarantee that's
18:44gonna break to the upside but if this is
18:47a stock that has a strong catalyst that
18:48has a relatively low float
18:50it's a popular stock a lot of people are
18:52watching it the price is right then
18:53there's a good chance it'll break to the
18:54upside and time of day is also a factor
18:57but there's a good chance so in this
18:58case initially with your entry down here
19:01and your max loss
19:03would this have been a winner or would
19:05this have first trade have been a loser
19:07well that depends on how you trade if
19:09you're an aggressive trader using
19:11leverage then there's a very good chance
19:14that you would have taken profit off the
19:16table as it came up here or as the first
19:19candle closed red
19:21and or made a new low versus this
19:23pullback
19:24because this was telling us that it
19:25can't get through the high on this first
19:27attempt right it's pulling back all
19:30right so
19:31this should have been a winning trade
19:33but if you had a very small position
19:34maybe you'd say well it wasn't up enough
19:36to be a winner it didn't hit my stop so
19:38i'm still holding it pulls back almost
19:40all the way back to your stop
19:42but then it comes back up
19:44and then on this attempt as it breaks
19:45through the high this is where you would
19:47look to maybe take some profit off the
19:48table but a more aggressive trader could
19:51take two three or four trays in this
19:53area your first trade is right here
19:56your second trade is right here and then
19:58you've got another trade on an ad for
19:59the break through the highs
20:01so you can be very active if you'd like
20:03to or you could be less active so you
20:06have to first figure out what is the
20:07apex point of the pattern and if you
20:08don't know the apex point of the pattern
20:11it's
20:12because of the definition of apex
20:14the other way of saying it is what is
20:16the point that needs to break for this
20:18pattern to be resolving
20:20all right if you don't know what that
20:22price is you need to get a better
20:23understanding of the pattern that you're
20:25trading
20:26then a question is what is the proximity
20:28of the nearest half or whole dollar
20:30relative to the apex point this is
20:32important because
20:34we have psychological resistance around
20:37half and hold dollars so as stocks are
20:39approaching these levels it's very
20:41common that we find resistance so back
20:43to our little chart here
20:46so in the first example i think i said
20:49this was like 498 right so 4.98 or that
20:53was 5
20:54so i'd be a buyer
20:56as it's approaching that critical level
20:58of 498 for the break of five i might be
21:01buying at 495 496 might even be buying
21:04it for 485 depending on how much it
21:07pulled back and what the level two looks
21:09like now level two and time and sales
21:11i'm going to show you when we get into
21:12the live trading archives and in just a
21:13few minutes of this
21:15this episode
21:17but if this right here this high a day
21:20was at 5 50.
21:22then your high a day is right at
21:23psychological resistance and there's a
21:25higher likelihood that we're going to
21:27come up and we're going to double top
21:29against that level because it's
21:30psychological resistance then we need to
21:32pull back hold over five psychological
21:35support and then come up for a second
21:38attempt through five
21:40so this is something that we're going to
21:41struggle with a lot around half dollars
21:42in whole dollars stocks that are really
21:44really strong sometimes they can just
21:46break right through those levels which
21:48is phenomenal when they do but more
21:50often than not
21:51a stock is going to run into a little
21:52bit of resistance so
21:54if the apex point of your
21:57chart or of your pattern for instance is
22:00like 495
22:02that presents a problem because the apex
22:05the breakout spot is just below
22:08a psychological resistance of a wall
22:10we'd rather have an apex point be right
22:13at it or just above it so when it has
22:15that burst of volume coming into the
22:17breakout it's enough to carry it
22:20clear through that level
22:23when
22:24it has that burst of volume but then it
22:25runs right into a sort of a ceiling
22:28that's when you can have a false
22:29breakout
22:31so what is the apex point of the pattern
22:33what's the proximity of the nearest half
22:34dollar whole dollar relative to the apex
22:36point and what is the max loss of the
22:38pattern so the max loss generally
22:41speaking is going to be the low of this
22:45pullback right here so this is your max
22:47loss
22:48so if you're entering and it's the
22:50bottom of that wick so if you're
22:52entering in the high here is five
22:53dollars but this is 425
22:56that's a 75 max loss
22:58that's going to be too much risk
23:00most likely it doesn't mean you can't
23:02take the trade you could still take the
23:04trade and you could take the approach of
23:06saying you know what i'm going to buy it
23:08at 4.95
23:09but i'm not going to hold it all the way
23:11down to 425 i'm just going to set an
23:13arbitrary stop on this at
23:15475.
23:17so you know risk
23:1820 cents
23:20and it might drop down to 475 and then
23:22come up for a second attempt at five and
23:24the chart will look like it was never a
23:26bad chart why did you stop out well it's
23:29because i got in with a little too much
23:30size near the highs i couldn't afford to
23:32hold through the whole pullback
23:34different traders will have different
23:35points of view on this
23:37because i try to leverage my account
23:39which is to say i take as big of a
23:41position as i can possibly take
23:43for a lot of setups then i'm not going
23:46to be in a position to hold through a
23:48really big drawdown if you're gonna hold
23:50down 75 cents based on two to one profit
23:53loss ratio you should have the potential
23:55to make a dollar fifty so i'd rather
23:57hold down 15 cents with the potential to
23:59make 30 cents 30 cents especially on a
24:02three four dollar stock is much more
24:03obtainable than you know 50 75 cents or
24:06a dollar a share so
24:08you know again that that's you know your
24:10discretion do as you'd like use either a
24:13tight stop uh and know that sometimes
24:15you get stopped out and then it'll end
24:16up ripping
24:18but of course the best setups work right
24:20away you know the best setups don't
24:21falter they just go right through that
24:23level so if it doesn't work right away
24:25well you know it's probably okay you can
24:27always get back in if you really want to
24:29or you can use a looser stop but then
24:31you're gonna have to use smaller share
24:33size and the profit loss ratio still
24:34might not make sense
24:36so the max loss of the pattern and then
24:38uh enter the position then this is what
24:40i do if there's high relative volume and
24:44green on the tape as it approaches the
24:46apex point so high relative volume again
24:49the term that we talked about already
24:51that's versus the relative volume over
24:52the last 14 days we want to see it at
24:54least two times but preferably five
24:56times or higher and just for reference
24:58today
24:59the stocks that were on the scanner
25:01uh so this one leading gapper relative
25:04volume 710
25:06spi relative volume 22 acer relative
25:09volume 310 i mean these are all
25:12except for this one they're almost all
25:13far in excess of the two to five
25:16so
25:17usually that's not going to be hard but
25:19sometimes you might have a stock that
25:21just pops up on one of your scanners in
25:23the middle of the day
25:24and
25:25you know it might have lower relative
25:26volume i mean all of these are in this
25:28column here
25:29are still pretty high this is 3.46 but
25:33this one's 0.42 right so that might be
25:36one where we say you know what i the
25:37relative volume is too low i can't
25:39justify a trade on it and generally if
25:42you looked at that stock what you would
25:43find is that it doesn't have news
25:46so we don't really know exactly why
25:48you know it's popping up five or ten
25:49percent
25:51you know it could be i don't know some
25:52large trader hedge fund or mutual fund
25:55decide to take a position
25:57there's a million reasons but
25:59the likelihood that it's going to
26:00continue intraday to become you know a
26:03100 move without
26:07a catalyst is sort of unusual so then
26:10we've got our
26:12entry order types
26:14okay so for actually executing your
26:16entry
26:18so we're going to use i'm going to use
26:20hotkeys generally but you can use an
26:23order entry window if you'd prefer it's
26:25up to you
26:26and you'll see in the live trading
26:27archives examples of me using both so
26:30i'll show you that we'll get we're going
26:31to get into those examples in just a
26:33moment and it'll be a little easier to
26:34explain but i just want to make sure i
26:35kind of covered the bases here with this
26:37first
26:38so um
26:40using hotkeys uh or in the order entry
26:43window my order type is a marketable
26:45limit order
26:46so a marketable limit order
26:48uh that's a limit order where you're
26:51saying okay the ask on this stock here
26:54um you know right now is let's say the
26:56spread is 4.95 by five dollars
26:59so i'm going to put my buy order on this
27:02at 5 15
27:04and i'm going to press the buy button
27:05and the second i press the buy button
27:07i'm going to start buying shares at the
27:09current price of whatever it is 4.98
27:114.99
27:13i will keep getting filled my position
27:16but i won't fill anything higher than
27:17the high of my limit order so in the
27:19case of that example would be 5 15.
27:22i do that because
27:24and i always buy on the ask i don't buy
27:26them the bid i buy on the ask because if
27:29a stock is strong i will not have the
27:31opportunity to get filled on the bid if
27:33it's really strong it's moving quickly
27:35right now i won't fill on the bid so
27:37breakout traders always buy the ask and
27:40then we also will try to take profit on
27:42the ask we'll talk about that a little
27:43in just a second
27:44so
27:45as soon as i get in trade sometimes
27:47people say ross how do you manage your
27:48risk
27:50do you set a stop order you know what do
27:51you
27:52what do you how do you do this so
27:55i do not use live stop orders and i
27:56never have
27:58the reason is because if you use live
28:01stop orders if you put a stop order out
28:03let's say you buy 25 000 shares of this
28:07stock um that we were just
28:09talking about let's see by 25 000 shares
28:11of the stock at five dollars and you put
28:13a stop order at 475 it's a live stop
28:16order remember that broker dealers can
28:19see your stop order and they could stop
28:23hunt
28:23stop hunting is when the market makers
28:25and a sell order goes through they clear
28:27the book it drops down and as it sweeps
28:30down every order that goes through below
28:33someone's stop will make those uh
28:36orders execute as market sell orders the
28:39orders fill the stock drops and then
28:42immediately fills back in so you get
28:44these flash drops which are these candle
28:46wicks and then it fills right back in
28:47that's stop hunting it's called stop
28:49hunting and i never want to subject an
28:51order to get uh picked up by stop
28:54hunting market makers so i don't put out
28:56live stop orders now pre-market
28:59uh you can't put out stop orders anyways
29:02so prior to 9 30 stop orders
29:05aren't allowed so it doesn't really
29:07matter for pre-market and for regular
29:09hours even though i could do it i don't
29:11do it so
29:12mental stop only which means i need a
29:16button on my keyboard that i can press
29:18and when i press it my order will sell
29:20at the bid
29:22to bail out it's basically a panic sell
29:24button i don't want to have to pan excel
29:26if i can help it but i have that button
29:28on my keyboard just in case all right so
29:31that's a hotkey
29:32so now let's talk about the exit if this
29:35is a leveraged position all right so a
29:37leveraged position would be where you're
29:39using leverage or where you basically
29:40have you know a huge position in the
29:43stock
29:44i'm probably going to want to take a
29:45little profit through the breakout
29:47my highest risk is from the moment i am
29:50in with full size until i've taken some
29:52off the table so i'm going to be
29:54inclined to take some off the table
29:57and then i can look for continuation to
29:59add back to my position and this starts
30:01getting into very active trading
30:04which is what i do when we've got
30:05parabolic momentum for just base hit
30:08stuff i may not add back i may just get
30:10in and then take profit through the
30:11breakout if it's a smaller position you
30:14can hold through the breakout and then
30:16look for continuation to the next
30:17resistance level
30:19which is fine it just depends on your
30:20account size and how aggressive you are
30:23in in your strategy
30:25so depending on my cost basis and share
30:27size if i see red on the tape large sell
30:30orders or a red candle on the one minute
30:32and certainly on the five minute that
30:34may cause me um to go ahead and bail all
30:37right so and if i did that i'd be trying
30:40to sell on the ask but if i can't get
30:42filled then i'll hit the bit however
30:46using my hotkeys i sell into strength
30:48and i avoid hitting the bid at all costs
30:50because it feeds weakness and it will
30:52hurt my existing position so if i'm
30:54holding 25 000 shares and then i hit the
30:57bid for 12 500 shares it's gonna show as
31:01red on the tape
31:03right and what that red signals to other
31:05traders is weakness when i see red like
31:08that i interpret weakness i never want
31:10to hurt a position that i'm still
31:12holding and so i'm always going to try
31:13to sell into strength now a lot of
31:16beginner traders out there certainly
31:17robin hood traders traders that are on
31:19their mobile phone
31:20they might just do market order entry
31:22market order exits market order entries
31:24will be green on the tape because
31:26they're a buy order market order exits
31:27will be read on the tape
31:29and if you hit a market order exit with
31:30a large position which we sometimes see
31:33on some of these meme stocks it can
31:35cause these momentary flash drops as the
31:37market makers clear the book the fills
31:40stop hunting maybe perhaps as well and
31:42then it fills back in
31:44so that's something you have to be
31:45careful of it is more common on certain
31:48types of stocks especially meme stocks
31:50where you have multi-day
31:52hold uh traders that are holding
31:54positions from you know days or weeks
31:56previous that the stock has been
31:58trending
32:00using hotkeys i can also set profit
32:02target orders so i can send order to
32:03take a
32:05quarter of my position off the table up
32:0615 cents or 25 cents i mean all of these
32:09hotkeys you can configure however you'd
32:11like i will do that in certain instances
32:14not all the time i'm more likely as it's
32:17going up just to put out my order at
32:18that moment to take profit um at the ask
32:21you can also use offsets above for
32:23profit or below if you've got a stock
32:25with a big spread which is fine but if
32:27you have a tighter spread stock you
32:28wouldn't want to do that probably
32:31stop the rest at average cost all right
32:33so stop it which is break even
32:36if it's a false breakout i'll still try
32:39to get out on the ask if i can but i'll
32:41hit the bid as a last resort
32:44okay so i went through that fairly
32:46quickly
32:47but let's go ahead and
32:50look at some live examples and see if
32:52this helps add a little bit more context
32:54to
32:56those
32:57those descriptions
32:58all right so
33:00hang on a second
33:08and by the way those just getting tuned
33:10in
33:10in case you didn't already know
33:13i am donating a dollar for every thumbs
33:16up we get during this video for
33:17humanitarian causes in ukraine and i'll
33:20be donating two dollars for every share
33:23that this uh video gets so i would love
33:25for you guys to
33:27share
33:28hit the thumbs up and share this
33:29broadcast
33:33all right so
33:34let's see
33:35okay so this is gonna be the first one
33:36we look at and so this is one of the
33:38live trading archives um
33:41one of the live trading archives that
33:42i've included in this um
33:46bundle of free downloads we're going to
33:48give you guys is
33:49from a day where i made a hundred and
33:52thirty-two thousand dollars
33:54so you can check that out that's a
33:56pretty cool one
33:57all right so let's look at this here
34:00all right so first we're gonna get
34:02oriented
34:03so
34:04let's look at our chart pattern
34:08okay so our chart pattern's right up
34:09here all right so
34:11we have a stock that has made a big move
34:13the ticker is abio the percentage gain
34:16on the day is 210
34:18percent okay this is a big percentage
34:21gain
34:23let's see um
34:25let me check the float on abio today is
34:2914 million shares on this particular day
34:31it may have been lower i'm not sure but
34:34in any case so
34:36we've got this move up it's about 10 30
34:38a.m we have a red candle at the top a
34:42second candle pullback this candle has
34:44formed what you'll notice is that i have
34:47already
34:48drawn a line at 12 51.
34:51note that 1251 1250 is psychological
34:54resistance because it's a half dollar if
34:57we look at the one minute chart you will
34:58see that it pulled back quickly
35:00came back up and was under 12.50
35:02couldn't break did one of those flash
35:04crash kind of drops came back up went
35:07sideways tried to break 1250 again
35:09couldn't do it came back down
35:11double bottom
35:13off of 1160.
35:15now if you're a dip trader you could
35:17certainly
35:18look for a double bottom off of 1160 as
35:20one of your entries that's an entry that
35:23i would consider to be
35:24riskier and since a lot of you are
35:26probably beginner traders and feel free
35:29to comment below with how long you've
35:31been trading which is out of curiosity
35:33since my guess is many of you are
35:35beginner traders i would say that dip
35:37trading is not the place to start while
35:39you might think well you get a better
35:41entry buying on a dip that's true but it
35:44requires a high degree of intuition
35:47about whether or not the stock is
35:49dipping and is going to keep going
35:50higher or has reversed and is going to
35:53keep going lower
35:54so that educated intuition takes a lot
35:56of experience so i would start by
35:58focusing on breakout trades breakout
36:01trades are where you're going to have
36:03high volume it's where you're going to
36:04have breakout or bailout instant
36:06resolution when they work they work
36:08right away when they don't work they
36:10don't work there's no guessing and
36:12you're not going to be too much in the
36:13habit of buying stocks or selling off
36:16so thanks for
36:18for chiming in there on how long you
36:19guys have been trading so a lot of you
36:21are fairly new so i would be very
36:22cautious about buying dips
36:25okay so um so on this one
36:28um
36:30let's see
36:31so this is our chart pattern so i'm
36:33gonna go ahead and press the play button
36:35uh and this
36:37do i maybe i'll
36:38so
36:40if you don't know what this window is
36:42this is a level two window i have other
36:44videos on how to read level two how to
36:47use level two so
36:49i have content around that if you're
36:50interested um
36:53this is our order entry window right
36:54here
36:56okay so this is my order entry window
36:58and i have this same setup for four
37:00different stocks one
37:02two
37:03three
37:04four
37:05and then i have the chart in focus for
37:07the one stock that i'm trading
37:09okay so in the case of this stock i
37:11already have an order prepared at 12.52
37:15that's the price for 2 000 shares
37:19and i have my mouse on the buy button i
37:22am ready to click the buy button and you
37:24see there's some green on the tape right
37:26there so when i'm talking about the tape
37:28this is what i'm talking about this
37:29section right here those are the
37:30transactions that are actually going
37:32through
37:33the market
37:35there's more green on the tape there at
37:3640.
37:40so the question on this is will i get in
37:43a little early to try to anticipate the
37:45break through 1250
37:54hands on there we go so hand was on the
37:56buy button right there
37:58now 2 000 shares as many of you know for
38:00me
38:01is a starter position
38:04so this is a trade where i took a
38:06starter position
38:08at
38:0912 20 and 12 25. now i didn't really
38:12care whether it was 20 or 25 my order
38:14was still 1252 but i clicked the buy
38:16button twice
38:17and in the same second i filled five
38:19cents apart
38:21my order's filled actually between the
38:23spread
38:24so
38:25this first entry
38:27is not one that is a beginner trader you
38:30would have had the confidence most
38:32likely to take
38:34your entry is going to be 12.50
38:37now you pay a higher price for
38:38confirmation
38:40but you avoid the risk of false breakout
38:43at least the fact like right here if
38:45this drops back down to 1160 you'd look
38:47back at the chart and you'd be like why
38:49did you even buy it you didn't get the
38:51first candle to make a new high
38:54so now up here
38:56i have added at 37 and
38:59so initial starter was at 20 now adding
39:02as we're approaching this breakout level
39:0612.50
39:09now we see on the level 2 a 15 000 share
39:12seller at 42.
39:16new order i've moved up to 1261.
39:22that seller is starting to get bought up
39:24see it went from 15 to 10 to 7
39:287 000 shares on the ask
39:32and then it pulls back again
39:38this is a chart that i would say is
39:40multi-time frame alignment
39:43that means both our one minute and our
39:45five minute are giving us the same
39:47message now there's a little bit of a
39:49red flag on the five minute chart
39:52and that is that the high a day volume
39:54uh
39:55the highest candle was a red doji which
39:57is a reversal indicator and it's on
40:00fairly high volume
40:02aside from that
40:03it's a pretty good five minute chart for
40:05a first candle to make a new high it's
40:07also just a little extended off its nine
40:09moving average which is this gray line
40:11so it's not perfect but it's pretty good
40:14the one minute is fine
40:17and the level that we need to see break
40:18is 12.50
40:22so that right there
40:26is what we look for that's called
40:28resolution
40:29that's the breakout now one of the
40:31problems is if you waited for the break
40:34of 1250 in this case
40:37you might have missed it
40:39right
40:41so i now have 10 000 shares at an
40:43average price of 12.32 and i'm up
40:463321 dollars so you can see my open p l
40:49right here
40:50and this is a up a spot right here where
40:53i could take half off the table if i
40:55wanted to
40:56alternatively i could add because we're
40:58still just opening up confirmation is
41:00just started and we still have a target
41:02of 13
41:04and i don't remember what i do so we'll
41:06we'll we'll both find out
41:08uh but let's just rewind that for like
41:10three seconds
41:13so where was the indicator this was
41:14gonna break well if you were looking at
41:16the chart
41:18for your indicator it happens you don't
41:21really see it on the chart it just
41:22breaks through this level so on the
41:24chart you would probably say well based
41:27on the chart pattern the the entry is
41:291251 but of course it'll break quickly
41:32because that's the apex point so i'll
41:34probably want to get in this around
41:36maybe 12 45 12 48 just a little bit
41:40under that level to catch that break
41:42through that level
41:44now let's just step back for one second
41:46and talk about traitor psychology
41:48so
41:49we want to think about the inverse
41:50position what if you were short this
41:52stock what if you shorted this stock
41:55maybe around 1240 one of the times it
41:58came up to 1250 and then reversed off
42:00that level because we know that there
42:01was psychological resistance at 12.50 so
42:04you're short at 12 40. it drops down to
42:0611 or 2 sorry 12 maybe you add short it
42:10flushes down to 1160 it looks like it's
42:12going to roll over and it's done you've
42:14got that red hi a day doji so makes
42:17sense
42:18but then it starts curling back up where
42:20do you cover that position
42:22well your stop is 1250 because that's
42:24the pivot
42:26but alternatively you're certainly
42:28covering it high of day which is 13. now
42:31of course some short short sellers would
42:33say i'm going to keep adding at 12 50
42:35and 13 and if it goes to 14 i'll add
42:37more if it goes to 15 i'll add more and
42:39if it goes to 25 i'll add more but
42:42that's also how those short sellers blow
42:44up accounts so everyone has to manage
42:46risk whether you're long or short so
42:481250 because that's a place where a
42:50short seller will likely cover you
42:53should see short covering to help propel
42:56the stock through that level
42:58that's what you want to see
43:00all right so at 12.50 at 12 45 12 46 12
43:0547 12 48 you're gonna have some short
43:07sellers who start to cover a little
43:09early so they don't get as much slippage
43:11on the breakout this is the exact same
43:14as what i do when i'm selling a stock at
43:171205 before catching the break of 12 and
43:20then slippage down to 1160 at the bottom
43:23of a bottoming tail
43:25right so it's anticipating what's going
43:27to happen
43:28so as a long trader you can capitalize
43:30on that by getting in as you're seeing
43:32green on the tape to anticipate the
43:34squeeze through that level
43:36you're also going to have some traders
43:38who use buy stop orders
43:40so a buy stop order is an order that
43:42will trigger when a stock crosses a
43:44certain price so that's that may be
43:46something that someone would use if
43:47they're taking more of a five-minute
43:49long trade probably with smaller share
43:51size for a longer hold time if they put
43:54that order at 1250 it's going to execute
43:57market long as soon as it breaks 1250 so
44:00let's go back to this
44:02example here so let's again reorient
44:05ourselves so we've got 1242 on the ask
44:08we've got green on the tape
44:10and right there all of a sudden look at
44:12this green now we're at 1250 and with
44:15all of that green it's going to propel
44:17it through this level and it's going to
44:19snap immediately to 76. 75 and i put the
44:23order out right there to take half off
44:25the table
44:27okay so i took half off the table
44:29selling into strength
44:32i'm going to be happy to add back to
44:34this position but first i'm taking
44:36profit off the table i'm protecting
44:37myself in the event that this becomes a
44:40false breakout
44:42where it goes you know 1266 and then
44:44immediately reverses
44:45so i'm you know
44:48you know taking a little profit off the
44:49table which is the right decision so
44:51sort of adding a little cushion
44:53and then the high was 1280.
44:56i've got another order here at 1266
44:59to sell the ask it's not selling
45:02this has to hold over what level well
45:05psychological resistance was 12.50 so it
45:07can come back and re-test 1250
45:10and if you're aggressive you could buy a
45:12dip off of 1250 or 1255 with a stop at
45:1512.48
45:17right because again you're setting your
45:18stop right underneath psychological
45:21support
45:22and this just came down and it held that
45:24level so now is it going to break
45:26through 1240 uh 1284 let's see
45:29so let's back this up again let's watch
45:31the whole thing
45:32all right so we're coming up we break
45:34through 12 7 12 50 we'll go 1270 1277
45:39and i take a little bit off the table at
45:4169.
45:43now we've got 12
45:4474 i put an order to sell half it
45:47doesn't fill
45:48and see how i place an order at the ask
45:50and then cancel it and place a new one
45:52if my order doesn't fill i'll i have to
45:53cancel and place a new one but i'd
45:55rather sell on the ask than selling the
45:57bid and look at that there we go
45:59okay now this
46:00in this instance
46:04look at that
46:05i just added at 1207. sorry 1307. now
46:08we're looking for a squeeze up to 13.50
46:11look at how fast that trade was
46:14let's back this up
46:17so this would have been a perfect
46:18example of a dip off of 1250 right down
46:21here 1253 1258 this would have been a
46:24great place to buy
46:26with a stop at 12 48.
46:28and and that's totally fine so this is
46:30what we would call right here
46:33this is a one minute micro pullback so
46:35on the five minute this is a five minute
46:37bull flag we have resolution and this on
46:40the one minute we would call the first
46:41pullback following the five minute
46:43breakout or we would call it a one
46:45minute micro pullback following a five
46:47minute breakout
46:48so we popped up
46:50i was already in from before but if you
46:52weren't already in
46:54right get in the mind of someone who's
46:55not already in if you're not already in
46:57where would you buy
46:59well you'd let it pull back and then
47:01you'd buy the break over this candle and
47:03your target would be a squeeze to the
47:05high what if you're still short what if
47:07you haven't covered yet where would you
47:09cover
47:10as it breaks through this level because
47:11you don't want to be holding as it
47:12squeezes through the high
47:14could go into a halt up
47:16all right so let's watch this again
47:18we'll back this up
47:20so the entry again on this one my entry
47:24was a little bit early
47:26on a sort of a dip
47:28so this wasn't the the best example for
47:30a beginner entry because i was i was
47:32adding it um 1225
47:34sort of mid-range with a stop just under
47:3612 dollars but then i added at 12 35 but
47:40right here as this comes up
47:43so you could have certainly
47:45added right here at 12 40.
47:48and does it break
47:49not quite okay that's okay so you still
47:52have your stop most likely at 12. when
47:54you get in a little higher you've got a
47:56bigger stop
47:59and then you watch for the second
48:00attempt
48:02so now it's coming
48:04let's see 35 46
48:0740 set 40 uh sorry 36 37 49
48:11and this is the place to be punching
48:13that buy button
48:16and now you could take a little off the
48:18table if you'd like
48:20or you could even keep adding right in
48:22here depending on how aggressive you
48:23want to be
48:25adding right there at 58 and 60 would be
48:27a great dip trade stop is at 48. now
48:30we're looking for the breakthrough 85.
48:32it breaks 85 goes right to 97. now we're
48:35looking for the pop through 13.
48:39there's 98 on the ask pops up there's
48:421308 there's 13 24. i got an exit 4 000
48:46shares at 13 24.
48:51okay so this is just one example
48:54now
48:55for reference um
48:57again this is
48:59this is what i do
49:00for members of warrior trading we've got
49:03any more examples i could possibly count
49:05our slide deck is over a thousand slides
49:09and it's all strategy development
49:11because there's more than one pattern
49:12this is just one pattern and this is one
49:14example of that pattern but i'll show
49:16you a couple more today all right so now
49:18let's look at um
49:21this one which is called let's see
49:26again those you guys who haven't already
49:27downloaded um
49:29uh or signed up here for this download
49:31make sure you do that you'll get a copy
49:33of my micro strategy lesson pdf a copy
49:36of my small account strategy worksheet
49:38some more live trading orders just like
49:40um
49:41live trading archives just like the one
49:42i just showed you i appreciate trading
49:44checklist and a special video on holding
49:46losers too long
49:48all right
49:50okay so here's another one
49:55all right so this one
49:57this is a micro pullback
50:00okay so uh and yes thank you for those
50:03who are hitting the thumbs up i really
50:04appreciate it again donating a dollar
50:06for every thumbs up and donating two
50:08dollars today for every uh time the
50:10video is shared
50:13so right here this stock wahfu it's up
50:16349
50:19it just squeezed up through the volume
50:21weighted average price that's a
50:23technical indicator again if you're not
50:24familiar with those indicators i've got
50:26other videos where i talk about them so
50:28now we're on a one minute micro pullback
50:30following the break of v wap
50:32okay the high is looks like around 12 uh
50:3510 12 or so
50:38i'm holding uh 333 shares at the
50:41beginning of this video
50:44and watching hand is on the buy button
50:47so again getting oriented we've got our
50:49level two we've got some green on the
50:51tape order entries ready for 10 10 and
50:5330 cents share size 1500 shares hands on
50:57the buy button
51:05are we going to hold 10 psychological
51:07support actually looks like the high
51:09right here
51:10was a little a little higher maybe
51:13around 10 dollars and 20 cents
51:16and one of the things here is that this
51:18candle closed red so like let's look at
51:19our volume profile high volume green
51:22candles light volume red candle now
51:24we're looking for first candle to make a
51:26new high high volume
51:28so
51:29for those that are curious like what's
51:30the benefit of
51:32you know being a member of warrior
51:33trading one of the benefits is the live
51:36market commentary
51:38while i'm trading because i've been
51:40doing this for so long
51:43i can keep all of these things in my
51:45focus at the same time
51:47volume profile position relative to
51:50technical indicators position relative
51:52to high of day the candle of the high a
51:54day volume the daily chart this is a lot
51:57of stuff to keep organized at the same
51:58time and this moves quick so it really
52:01helps to have you know first base coach
52:03uh kind of saying this is what i'm
52:05looking at here and it's not just first
52:07base coach i mean i'm actually running
52:09around the basis here doing the trades
52:11okay so let's back that up so this was
52:14an entry exactly the first candle making
52:17new high
52:18see the green on the tape right here at
52:2014. boom boom that's where i'm pressing
52:23the buy button now i just bought as it
52:26squeezed up here
52:276 000 shares
52:29okay
52:30this candle has just started to make a
52:32new high
52:33and now we're looking for a squeeze
52:35through the high right there target is
52:3712.50 my cost basis is 10.14
52:42okay so let's watch this
52:45there's green and look at how fast that
52:48resolves up to 10.49
52:50now i will say that this doesn't have
52:52perfect multi-time frame alignment the
52:55five-minute charts not perfect the
52:57five-minute charts in fact a bit
52:58extended with this entry up here but
53:00this is a one minute pullback following
53:02a fresh break of v web and this is where
53:04short sellers will start to get squeezed
53:06out who were holding short for an
53:08all-day sell-off
53:10because now all of a sudden uh-oh this
53:12thing's back above v-wap and it's
53:13looking strong for a move up to 12 39
53:16so let's see how high it wants to go
53:19to manage risk i take a little off the
53:20table into that squeeze
53:23right so it took a little off the table
53:25there new order is ready to add back the
53:27high this candle is around
53:2810.60 added back right there at 10 55.
53:34i took profit and then i added back on
53:37that micro pullback at 10 55 now looking
53:39for 65 75 and 85
53:42the red to green is at 11
53:4511 right here is today's open
53:49so there's 75 now i'm holding 6000
53:51shares to 42 average and i just added
53:54right there for the breakthrough eleven
53:56taking a little profit off the table as
53:58we squeeze through the psychological
54:00resistance of eleven dollars
54:03now eleven is holding a support i may
54:05wanna consider buying a dip right here
54:08okay 11 broke
54:10still holding a 1052 average putting my
54:13order 1150
54:16and added right there 10.99 average 7
54:19000 shares long
54:20profit at 11.25
54:24look at how fast this is moving now
54:25these are bordering on quick breakout
54:28trades
54:29right around psychological levels of
54:31support and resistance bought the dip
54:33right there at 11 13
54:35so that was a dip trade it should break
54:37over 25 real quick
54:40we don't want to break below 11. and i
54:42stopped out there for a small loss as it
54:44came back down to 11.
54:47so you know again
54:49this is initially
54:51this was the first setup and within that
54:53i took three trades was it three or
54:55maybe four
54:56so the first trade was uh the first kill
54:59to make a new high
55:00and then i took profit at 55
55:02and then i added back at 55 with the
55:04squeeze up to 11
55:06and then it pulled back and then i added
55:07back around 11 whatever it was for the
55:09move up to
55:1211.50 so trading around half dollars
55:14whole dollars
55:16very aggressive
55:18that's the way i trade it you don't have
55:19to trade it that aggressive you could
55:20trade however you want you could say oh
55:22well i'm just going to buy this and i'm
55:24not going to sell it 11.50 i'm going to
55:26set my target at 12 19 and i'm going to
55:28let it work that's fine too
55:31a smaller position but a bigger move
55:34it's fine just different ways to
55:35approach trading
55:40so my exits are entirely with hot keys
55:44by pressing the buttons
55:47little pause there that looks like
55:49possibly a little order a little um
55:51internet latency
55:53it's very unlikely that the level two
55:56actually paused
56:04let's see
56:06so this is where i got in
56:09there you go look at that wow
56:14that right there was a clean trade let's
56:17back that one up
56:19so the first dip didn't work the second
56:20one did
56:24so bought the dip at 11 13
56:26stop is 11
56:28now that's the same thing i did before
56:30remember i stopped at 1101 so i lost
56:32like 900 bucks but i got back in i tried
56:34it again
56:36alternatively where could you wait to
56:38add well let's look at the clock i
56:40haven't even mentioned this yet the
56:42clock we've got our clock right up here
56:45it's showing 10 22 and 40 seconds
56:48how many seconds do we have left on this
56:51one minute candle we've got 20 seconds
56:53left of course 60 seconds in a minute
56:55so what we're looking at here is first
56:58candle to make
57:00a new high
57:02all right now our high was 11.50 and my
57:06suspicion here is that this is going to
57:08break look at that now this candle is
57:10turning green
57:12now we've got 35 this is a micro
57:14pullback and i'm adding right here
57:18at 44 for the breakthrough psychological
57:20resistance
57:22even if you only add there that's fine
57:24as your first trade you get in at 11 44
57:27for the break of 11 45 11 sorry 11 50.
57:30and watch 11 50 hit pause for a second
57:33then that's 11.72
57:35now you want to go real aggressive
57:37add here at
57:3811.75 why not you've got an average of
57:4111 21
57:43do it
57:45or take profit either way
57:47right if you're aggressive you're going
57:49to add and sometimes i will and
57:51sometimes i won't in that case i sold it
57:531181 and that was most likely a hotkey
57:56mistake i probably meant to sell half
57:58and i accidentally sold the whole thing
58:01and sometimes that happens with hotkeys
58:03you know you've got a whole set of
58:05hotkeys on your keyboard and in an
58:07instance you press one and then oops uh
58:09oh
58:10i pressed the wrong one and on that
58:12trade with nine thousand shares i left
58:1340 cents on the table four thousand
58:15bucks
58:16just about
58:18so now we're coming up to 11 26
58:20and i realized oh shoot i fill up see my
58:23mouse is over here
58:24at this and i'm realizing i filled at
58:261181 that's not a good fill
58:28but oh well
58:31so now watching 1126 the halt level
58:34what the hell level moves up
58:36there we go there's 11 sorry there's a
58:381252
58:41now
58:42pulling out the chart a little bit more
58:44recognizing of course we had that
58:45earlier high near 16 dollars
58:50so this ended up being a really epic
58:53one-minute pullback following a break of
58:55v-wap
58:56and i i very actively traded it i got in
58:59i got out i got in i got out in fact
59:02what i have done better if i just took
59:04the trade and held you know for the
59:06whole move sure but in this case it went
59:08to a high of 1150 and then it dropped to
59:1010.75 that's a 75 pullback i went from
59:14being up a dollar a share to being up
59:16only like 25 cents
59:19right you know that's not that's not
59:20great
59:22so
59:23what'd this do um
59:25was that the end of the video
59:27yeah i guess that was the end of the
59:28video but that's fine
59:30all right so uh i got another one
59:33hey by the way if you guys enjoy these
59:36kind of videos if this is helpful for
59:37you
59:38this is how i teach for students that
59:40are over at warrior trading
59:42generally the classes are
59:45uh they're they're uh a combination of
59:48going in and out of a slide deck where
59:51i've got a ton of examples
59:55all right so like this for instance so
59:57i'm going in and out of this slide deck
59:59where i've got all of these examples
1:00:01this is a slide deck that's like a
1:00:02thousand slides long
1:00:05all right so down here and then we go
1:00:07into the live trading archives
1:00:10so one of the goals that i've had for
1:00:13the way i teach
1:00:15is that i try
1:00:17to connect the dots so there's a clear
1:00:19path in the strategy
1:00:22like
1:00:23sort of the description of what trading
1:00:25is and what i tr what i trade so i could
1:00:27have just said okay guys
1:00:29entries and exits buy the first candle
1:00:31to make a new high
1:00:33and then take profit as it goes higher
1:00:35video is over
1:00:36hit the thumbs up and that would have
1:00:38been a less than a minute long video
1:00:40because simply that's what it is and
1:00:41that's what a lot of educators do they
1:00:43just give you the general generally
1:00:44speaking this is what it is and then
1:00:46they'll show you maybe one or two of
1:00:47their trades like this is what it looks
1:00:48like you buy here and you sell there
1:00:51done
1:00:52okay what i wanted to do because the
1:00:54feedback that i got from a lot of our
1:00:56students early on was that i just took a
1:00:58class with so and so and the problem is
1:01:01talked a lot about their trading showed
1:01:04a lot of patterns and that
1:01:06but there was this huge gap
1:01:09between all of that and
1:01:11like the actual execution
1:01:13like how do i actually execute that
1:01:15strategy how do i find those stocks in
1:01:16real time
1:01:18where do i actually press the buy button
1:01:20and sell button
1:01:21and so they finish those classes feeling
1:01:22like i'm i'm lost and i don't want um i
1:01:27don't want you to feel that way as
1:01:28always my legal disclaimer is that i
1:01:31can't guarantee that you're going to
1:01:32find success
1:01:33and trading is risky my results are not
1:01:35typical but i've made a real effort to
1:01:37make this educational experience
1:01:40as thorough as possible
1:01:43okay so let's see so we got that one um
1:01:46so we've got a we've got another one
1:01:47here um
1:01:49this one also a little bit more active
1:01:51trading
1:01:57thank you guys who have hit the thumbs
1:01:58up i appreciate it and of course um
1:02:01you are
1:02:03making a donation here so
1:02:06okay
1:02:07all right so let's back this one up this
1:02:09is a quick video so
1:02:11here we go very similar pattern that we
1:02:14just saw um a moment ago right i mean
1:02:17this is the same pattern that you see
1:02:19right here right so we're looking at
1:02:21first candle make a new high we've got
1:02:22three three four green candles a couple
1:02:24candles of pullback first candle to make
1:02:26a new high
1:02:28okay so what do we have here up on the
1:02:30screen we've got four green candles two
1:02:33red candles first kale to make a new
1:02:35high so i'm a buyer at 16 18. this is a
1:02:39cannabis stock
1:02:42so just added a thou two thousand shares
1:02:44there at sixteen dollars and nineteen
1:02:47cents okay so that's my that's my entry
1:02:51now this is already starting to resolve
1:02:53the high of this candle right what's our
1:02:56profit target our high is just under 17.
1:02:59daily chart it is below the 200. not
1:03:02great but it has a lot of room up to the
1:03:04200.
1:03:06so it's it's still worth trading
1:03:09okay so there's 16.38
1:03:12now you'll notice on this one
1:03:14a little bit stacked up see how there's
1:03:17a big stack of sellers at 39.
1:03:19see that wall
1:03:22you can see that on the level two
1:03:24there's 40 there's 47 there's 50 there's
1:03:2660. i took a little off the table there
1:03:28into strength
1:03:33so this was basically of and then
1:03:35there's a 10 000 share bid that's good
1:03:36to see so this is a fairly simple first
1:03:39candle to make a new high
1:03:40now the ad back that got a little more
1:03:43aggressive okay so let's rewind this
1:03:44let's do it again
1:03:46so why did i buy here at 16.18 cents
1:03:50it's the first candle to make a new high
1:03:52what's my max loss technically the low
1:03:54of that candle 1570 ish
1:03:56but i'd rather set the stop tighter at
1:03:58around 16
1:04:00so stop is 16 which means on this trade
1:04:02i'm risking 400 bucks
1:04:04i'm in it just under
1:04:0616 19 16 20.
1:04:10so right here i'm up 200 bucks
1:04:13which is okay because that's a
1:04:14one-to-one risk to reward ratio
1:04:19so there we're coming up to 50 so i'm up
1:04:21632 on this trade
1:04:24so we've got 1650 on the ask there we
1:04:27break it i add 1650. why psychological
1:04:31resistance i add for the break through
1:04:33that level scott no i don't get out with
1:04:36market orders
1:04:37i always say if i always try selling the
1:04:40ask that's a that's a limit order
1:04:42because i'm choosing the limit price
1:04:43with my hotkey if i have to hit the bid
1:04:46that would be a marketable limit order
1:04:49but just a marketable limit order
1:04:53all right so now my average is 1624. i
1:04:56added a thousand shares
1:04:58and as soon as it comes up to that level
1:05:00i put an order to sell half
1:05:02at 16.59
1:05:04all right so that's a one cent offset
1:05:06below the ask
1:05:07i take a little more profit scaled down
1:05:09to just 375 shares
1:05:11so about 800 of profit and then look at
1:05:14this
1:05:15the level two
1:05:18let's see let's back that up one second
1:05:22see that 10 000 share order right there
1:05:25i saw that bid flash up and i thought
1:05:28you know what i should do
1:05:30i should buy
1:05:32why
1:05:33because if i buy here at 1654
1:05:365000 shares i can always turn around and
1:05:38sell to 1648
1:05:41the 10 000 share buyer so i'm really
1:05:43only risking a couple cents
1:05:45so i add back right there 2000 shares
1:05:48average is 51 and there's 1680 on the
1:05:51ask up another 400
1:05:54so that trade was based almost entirely
1:05:58on level two
1:06:00on the chart
1:06:01of course i knew we were on a breakout
1:06:04maybe a little bit of a dip trade but
1:06:05really it was a level two based entry
1:06:08taking a little off the table there at
1:06:1083.84 new order goes at 17.
1:06:13now can i buy here
1:06:151695
1:06:1797 for the breakthrough 17.
1:06:20let's watch
1:06:21if we see green on the tape now we're
1:06:23seeing a little red so it's pulling back
1:06:25a little bit
1:06:28still holding 594 shares at 16.50 it
1:06:32flashes down
1:06:34which is not super pretty
1:06:36so i glance over at the one minute chart
1:06:38and it's okay i mean it broke out it's
1:06:41not perfect
1:06:44now we're back down to 1643
1:06:48and looks like that was the end of the
1:06:49video okay so i don't know how much
1:06:51where it goes from there so i might have
1:06:52lost on the last 600 shares didn't break
1:06:54through 17.
1:06:57all right i have
1:06:59do you guys want to see one more example
1:07:00or two more examples
1:07:05let's see
1:07:09you tell me
1:07:23okay
1:07:26all right so live trading itc
1:07:29all right so let's watch this one
1:07:31all right so this one
1:07:34um
1:07:35two more examples all right we'll do two
1:07:37more examples okay
1:07:38so
1:07:39this one here
1:07:42a little bit of a this is a little
1:07:44tricky
1:07:45okay so on this one i was using my small
1:07:47account i was doing a small account
1:07:49challenge
1:07:53so
1:07:54the pivot on this
1:07:56chart is this level right here
1:07:59the break of that level and then that
1:08:01sends us higher up towards our previous
1:08:04high a day which is around 29.
1:08:12so we've got a little bit of double top
1:08:14risk here
1:08:19and the high that candle was just under
1:08:2027.
1:08:22the low
1:08:23big range
1:08:26if it can hold this level then you're
1:08:28looking for a squeeze back up to the
1:08:30high
1:08:36now we're looking for a micro pullback
1:08:38right in this area
1:08:41and then the first candle to make a new
1:08:42high through 27.
1:08:57so let's move this a little bit further
1:08:59forward so we're pulling back
1:09:06and let's watch this
1:09:09now we're coming back up a little bit
1:09:11more so see that first candle just made
1:09:13a new high right there
1:09:15so
1:09:16you could have bought that first candle
1:09:17to make a new high this is a small
1:09:19account challenge so i wanted to wait
1:09:20for confirmation and take a quick trade
1:09:22through the highs so the entry is going
1:09:25to be a little closer to 27. i need more
1:09:27confirmation to trust it
1:09:30paying a higher price for that the
1:09:32winner will probably be a little smaller
1:09:34but i'm okay with that
1:09:37so moving my order here up to 26.90 100
1:09:40shares 27 100 shares
1:09:43and right here as we're seeing green i'm
1:09:45adding 300 shares at 26.78 for the break
1:09:48of 27.
1:09:53so looking for 85 and then 95
1:09:56a break of 27
1:09:58psychological resistance
1:10:00okay so up there 27 we had a little bit
1:10:02of a seller
1:10:0310 000 shares
1:10:06and it broke right through no problem
1:10:08no problem
1:10:11okay now if you want to be aggressive
1:10:14you could add at 27.25
1:10:16for the squeeze up to 27.50
1:10:21new stop 26.99 20 or 27.05 set the stop
1:10:25just above this level
1:10:27depending on how you want to trade it
1:10:34so now we're looking for 27.50
1:10:38and then a squeeze up towards 28.
1:10:42new orders at 27 uh 50.
1:10:49adding there at 40 to anticipate the
1:10:51breakthrough 50. there's 60 there's 70.
1:10:55now right into that squeeze it might not
1:10:57have been a bad idea to take half off
1:10:59the table i'm up almost a dollar a share
1:11:02there's 77
1:11:04it's stalling out just a little bit
1:11:06there's 80 there's 90.
1:11:08can we break 28 on the break of 28 i
1:11:11should probably take a little off the
1:11:12table
1:11:17up over a dollar a share
1:11:19so see i should have taken profit there
1:11:22because it hit 28 it pulled back now 50
1:11:24cents 27.50
1:11:26and this is where you could start to
1:11:28feel like a little bit of weakness
1:11:31but
1:11:32i added aggressively
1:11:34and looking for the squeeze through 28
1:11:36and my guess is that as soon as it
1:11:38breaks 28 i'll take it all off the table
1:11:40right there yep
1:11:42so took it all off the table for 532
1:11:44dollars a profit so that was a small
1:11:46account challenge
1:11:49so that one's not maybe as exciting of a
1:11:51trade but
1:11:52a good trade and now let's look at um
1:11:55one last one here
1:12:09okay
1:12:11so this is pixie the setup is sort of
1:12:13similar to
1:12:15the one we looked at earlier on waffu i
1:12:17think it was which was a break over the
1:12:19volume weight average price
1:12:23so this hit a high of 12.50 it came up
1:12:26to the v-wap over it and then it's back
1:12:28below it
1:12:30the high of day is around 1494. so
1:12:33psychological target up around 1494.
1:12:40putting my order at 1253 for 1500 shares
1:12:43it's ready to go
1:12:48so that was the first candle to make a
1:12:50new high right there that was the spot
1:12:52where i could have taken an entry
1:12:55i didn't
1:12:57i added a little higher uh well wait a
1:13:00second
1:13:00[Music]
1:13:02um oh i'm focusing it looks like on a
1:13:05different stock at this moment all right
1:13:06so let me go a little further forward
1:13:11all right let me back this up
1:13:13all right so we've got a double top
1:13:14around 1250
1:13:17so now i've added there at 12 45 for the
1:13:20break of 1250
1:13:21looking for the squeeze up to 13.
1:13:25there's 69
1:13:2930 on the bid
1:13:3277 on the ask
1:13:36this one you can see has a tendency of
1:13:39popping and then having these
1:13:41topping tails
1:13:48this is a little bit of churn here
1:13:49there's more red on the time and sales
1:13:51than i'd really like
1:13:58so now we're on a one-minute pullback
1:13:59under 13.
1:14:01new orders at 13
1:14:04halt levels 1335.
1:14:07and there you go there's 13 20.
1:14:12took some off the table at 13 18.
1:14:20and there's back to 13. so you know the
1:14:22question is how high does this one end
1:14:24up going does it does it sort of squeeze
1:14:26all the way back up to the high
1:14:28the video's not too much longer so i'm
1:14:30not sure how much higher it goes
1:14:34high was about 13.50 there's 13 53.
1:14:38you can see on this one a decent amount
1:14:40of red going through the tape and that
1:14:41that's something definitely to be
1:14:43mindful of if you're seeing that not
1:14:45sure why but you know it seems to be the
1:14:47case and that's probably an issue
1:14:58all right so let me back out of this
1:15:00again um i want to put this back up for
1:15:02those of you guys that want to keep
1:15:03learning i encourage you definitely to
1:15:05subscribe to the channel and hit the
1:15:06thumbs up if you hit the thumbs up of
1:15:08course we're donating a dollar for every
1:15:10thumbs up that we get up to 25 000 so
1:15:13thank you guys for doing that
1:15:16if you want to keep learning you're
1:15:17welcome to download my micro pullback
1:15:19strategy lesson pdf small account
1:15:21strategy worksheet live trading archive
1:15:24pre-trading checklist and a video on
1:15:26holding losers too long
1:15:28what i think i'll do here
1:15:30[Music]
1:15:31is maybe just
1:15:33a couple minutes of q a and answer
1:15:36questions that
1:15:37a few of you had and then
1:15:40i will uh end the broadcast and
1:15:42we'll see you guys first thing tomorrow
1:15:44morning for the morning show around uh 8
1:15:4645
1:15:47for those who are tuning in maybe just
1:15:48for the first time for this video i do
1:15:51the morning show
1:15:52every day around uh 8 30 9 o'clock i go
1:15:55live and then i give you my watch list
1:15:58for the day
1:16:00so what simulators are quick with orders
1:16:02yeah so that's that's a great one
1:16:04because i definitely encourage you to
1:16:05trade the simulator before you put real
1:16:06money on the line a td ameritrade
1:16:09simulator isn't as fast as the type of
1:16:11trading you were just seeing um really
1:16:13not even not even close
1:16:16so
1:16:17you've got a couple different options
1:16:20interactive brokers i think has a
1:16:21simulator
1:16:22but i think you have to have an account
1:16:24there so that would cost you somebody
1:16:26set up the account you can sign up for
1:16:28paid simulators they have a simulator
1:16:32sterling has simulators das trader has
1:16:34simulators but you have to pay for the
1:16:35real-time market data it's like 100 and
1:16:37some some of them are 150 175 a month
1:16:41so they're not super cheap which is kind
1:16:43of a pain
1:16:45for what it's worth
1:16:47for our
1:16:49pro members we do include
1:16:51access to the sterling simulator which
1:16:54would cost you probably about a hundred
1:16:56dollars a month to subscribe to on your
1:16:58own so that is included in your
1:16:59membership
1:17:01but you could also go subscribe on your
1:17:02own if you prefer
1:17:08how does your broker benefit from giving
1:17:10you margin so
1:17:12your broker benefits from more shares
1:17:14that you trade because some brokers will
1:17:18sell order flow so the more shares of
1:17:20orders that are being sold the more
1:17:22money they'll make
1:17:24brokers that are not selling order flow
1:17:25still get better negotiating ability by
1:17:28the amount of volume that their their
1:17:31firm is
1:17:33is trading so
1:17:35it's to their incentive to let you trade
1:17:37more aggressively
1:17:42so what exactly i look for in level two
1:17:44beyond the big uh the big orders i would
1:17:47say it's
1:17:49so someone asked me this earlier um
1:17:52about the spread uh you know one cent
1:17:54spread is not necessarily a good thing
1:17:56if you've got a really really tight
1:17:58spread then you know that's telling me
1:18:00that you've got a stock that is pretty
1:18:03thickly traded might have a higher float
1:18:05may not make as big of a move so a
1:18:07spread of three to five cents or five to
1:18:09ten is totally fine
1:18:11that's not a big deal
1:18:13i can look at the level two to see how
1:18:14stacked up the orders are going
1:18:16down on the bit or up on the ask
1:18:19and i can look at the tape and the tape
1:18:21is what i look at probably the most
1:18:23closely because i want to see
1:18:25is this moving quickly is it moving up
1:18:27quickly are there a lot of orders going
1:18:29through in green because that means
1:18:30there's other people stepping up to the
1:18:31plate and buying this thing and if
1:18:33there's other people buying and it's
1:18:34moving quickly that's where i want to be
1:18:36buying too
1:18:39so i don't use a cash account i do use a
1:18:41margin account in my retirement account
1:18:44i don't have leverage but it's still a
1:18:46margin account so i can trade very
1:18:48aggressively if i'd like to
1:18:53um when trading my small account
1:18:55challenge how's the um
1:18:57psychology differ from when i'm trading
1:18:59on my normal account so when i'm trading
1:19:01on a small account i naturally feel more
1:19:03pressure because i know that one mistake
1:19:06could blow up the account right so that
1:19:09means i'm going to be a little bit more
1:19:11cautious about my entries i'm going to
1:19:13trade less i'm going to focus on one
1:19:15trade a day and i'm going to take as big
1:19:17of a position as i can on that trade but
1:19:19i'm only going to take one trade a day
1:19:20and i'm going gonna focus on the best
1:19:21quality setups so by taking one trade a
1:19:24day if i can afford to buy a thousand
1:19:26shares of a three dollar stock that
1:19:28would be three thousand dollars in the
1:19:29trade and it goes up 20 cents that's a
1:19:32200 winner that's a that's a great trade
1:19:34if it goes up 30 cents it's a 300 winner
1:19:36that's 10 percent
1:19:38one trade
1:19:39in and out that's it and then do it
1:19:41again tomorrow rinse and repeat one
1:19:42trade a day rinse and repeat again and
1:19:44again again until the account grows and
1:19:46if i have a loss i have a loss
1:19:49i'm going to because i'm focusing on the
1:19:51best quality setups my losses should be
1:19:54um
1:19:55smaller in percentage i'll have a higher
1:19:57accuracy but it's not possible i could
1:19:59take a 20 or 30 cent loss and be down
1:20:00300. so the account be down 10 percent
1:20:03one day but by continuing that strategy
1:20:05as long as i'm maintaining 75 to 80
1:20:08out of 10 trades with a one-to-one ratio
1:20:11i'm going to be profitable
1:20:13anything over 50 is profitability in
1:20:15terms of accuracy
1:20:22let's see um so you know beginner trader
1:20:25you could certainly set up a cash
1:20:26account they're easy to set up you could
1:20:27set up a cash account with td ameritrade
1:20:29you could trade half the balance every
1:20:31other day but there's pressure on that
1:20:33also that you just feel like you can
1:20:36only take one trade a day because of
1:20:39margin because or because you'll run out
1:20:41of buying power because buying power and
1:20:43then if you don't take it then you feel
1:20:45like oh man i didn't take the one trade
1:20:47i should have
1:20:48so
1:20:49i found trading with a cash account even
1:20:51more stressful than trading with a small
1:20:53margin account
1:20:58what do i mean sell the ask and not the
1:20:59bid so
1:21:00of course you can a market order is
1:21:02going to sell at the bid it's just a
1:21:04marketable order to sell at the bid
1:21:08and it's going to be a red order that
1:21:09goes through on the tape if you sell at
1:21:11the ask you're putting an order at the
1:21:13ask and you have to wait for someone to
1:21:14buy the shares from you and when they
1:21:16buy the shares the transaction will be
1:21:18green on the tape
1:21:20right so if you're holding a position my
1:21:22opinion is that i want to scale out
1:21:24slowly on the ask to get the best price
1:21:27and because i'm still holding a core
1:21:29position i don't want to hit the bid and
1:21:31have a red order go through because that
1:21:33increases
1:21:34bearish sentiment and i don't want to
1:21:36increase any bearish sentiment when i'm
1:21:38still holding a position i want to keep
1:21:40going up right so i just want to scale
1:21:42out slowly on the ask
1:21:46so those who have more questions what i
1:21:48encourage you to do is leave them down
1:21:50in the comments i can come back through
1:21:51and answer them later today i'll come
1:21:53back and continue answering questions as
1:21:55always they're posted on the youtube
1:21:57channel we always answer questions so
1:21:59please feel free to leave questions i'll
1:22:01be back at it first thing tomorrow
1:22:02morning for the live day trading morning
1:22:04show so make sure you guys tune in for
1:22:06that i'm happy to try to be as clear as
1:22:09possible if i know some questions coming
1:22:10up i can articulate um you know very
1:22:13specific things relative to this video
1:22:15on entries and exits i'll try to be
1:22:17extra mindful of that tomorrow
1:22:19all right so thank you so much for
1:22:21tuning in i hope you've enjoyed this
1:22:22episode this has been a little on the
1:22:24longer side but i hope it's been
1:22:26beneficial i hope you feel like you've
1:22:27learned a lot i want to remind you as
1:22:29always that trading is
1:22:31risky most beginner traders lose money
1:22:33and my results are not typical so i
1:22:35encourage you to take it slow and trade
1:22:38in a simulator before you put real money
1:22:41on the line do yourself that favor i
1:22:42didn't do it and i wish i had so really
1:22:44take it slow train a simulator before
1:22:46you put real money on the line don't try
1:22:48to blindly follow me or anyone else
1:22:50all right thank you for tuning in thank
1:22:52you for hitting the thumbs up we'll be
1:22:53doing some donations so i'm excited
1:22:55about that and i'll see you first thing
1:22:56tomorrow morning for the morning show
1:23:09you

About this transcript

This page contains the full transcript of Ultimate Beginners Guide to Timing Entries & Exits for Momentum/Trend Trading by Ross Cameron - Warrior Trading, generated from the public captions YouTube serves with the video. The transcript has 14,336 words across 2,238 segments, with the original timestamps preserved so you can click any line to jump to that moment in the embedded player.

What you can do with it

Use the transcript to take notes, quote the speaker, build a study guide, generate a summary with ChatGPT or Claude via the YouTube Summary tool, or export it as a timed subtitle file with YouTube to SRT. You can also re-open it in the transcriber to translate the transcript into 100+ languages.

Free YouTube transcript tool

YouTube2Text is a free YouTube transcript generator — no signup, no daily limit. Paste any YouTube link and get the full transcript instantly, with timestamps, click-to-jump, translation to 100+ languages, AI prompts for ChatGPT, Claude, and Gemini, and exports to TXT, SRT, VTT, or Markdown.