What did I get from trading all the MEME stocks. Bitcoin, AMC, DOGE, GME — Transcript

Full transcript

1. 0:00hello guys dave duxer welcome to this
2. 0:01youtube videos today we're going to talk
3. 0:03about
4. 0:04some of the meme stocks that's been
5. 0:06happening for the last couple weeks
6. 0:08including gamestop amc
7. 0:11and dogecoin also uh bitcoin as well
8. 0:14so all the stickers has been trading
9. 0:16tons of volume and
10. 0:18also it's been hyped up by twitter or
11. 0:20reddit
12. 0:21and i want to talk about some of the
13. 0:23lessons that i learned
14. 0:25and also give away some of the method
15. 0:27and tips to you guys
16. 0:29so you guys can stay away from all these
17. 0:31unpredictable patterns
18. 0:32in the future so before i start this
19. 0:34video uh make sure to click the like
20. 0:35button and subscribe
21. 0:37and let's get started all right the
22. 0:39first thing i want to talk about will be
23. 0:41the initial run up
24. 0:42normally the initial run up doesn't have
25. 0:44any historical
26. 0:45resistance or any historical chart for
27. 0:48the ticker itself for something like gme
28. 0:52the ticker itself never ran up to 400
29. 0:54500
30. 0:55before the highest of the ticker has
31. 0:57ever been was forty dollars
32. 0:59so when you see that the stock is
33. 1:01getting stream volume and
34. 1:02hitting extreme price targets that's
35. 1:05where you have to stay away from the
36. 1:06stocks
37. 1:07because normally the more volume trades
38. 1:10on ticker the more competitive
39. 1:12it gets and the more competitive it gets
40. 1:14the more difficult for to trade and also
41. 1:17be able to make money on the first
42. 1:18initial run up
43. 1:20i have took a couple mistakes actually
44. 1:23trading on the front side
45. 1:24and i learned my lessons so what you
46. 1:27have to do is you have to wait for
47. 1:29uh the first initial run up to die out i
48. 1:32know that's a lot of
49. 1:33uh formal and also trading on the front
50. 1:36side gives you a lot of stresses as well
51. 1:39so personally i stay away from the
52. 1:42initial roundup
53. 1:43and always wait for the balances these
54. 1:46type of
55. 1:47hyped up tickers or meme stocks they
56. 1:49normally bounce back
57. 1:50three to four times so there's plenty of
58. 1:53opportunities for you to capitalize in
59. 1:55the future
60. 1:56and that's what i recommend for
61. 1:57beginners also for
62. 2:00experienced trader as well so the second
63. 2:02tip i want to give you guys is once you
64. 2:05look at the historical chart you can
65. 2:07clearly see where is the consolidations
66. 2:09where is the resistance and support you
67. 2:11can build a strategy
68. 2:13from that historical chart to actually
69. 2:15be profitable in the second round up
70. 2:17so on the first rung up you don't have
71. 2:19any reference or resistance for
72. 2:21the risk of and that you can only choose
73. 2:24to use intraday support and resistance
74. 2:27and that's normally really risky to do
75. 2:29as i said on the first point typical
76. 2:31tickers normally
77. 2:32round up about three to four times after
78. 2:34the initial run up
79. 2:36so they will tend to bounce three to
80. 2:38four times for you to capitalize
81. 2:40and for you to shore into these type of
82. 2:42bounces in the future
83. 2:43and after that it depends on the stock
84. 2:45fundamental itself
85. 2:47if the stock does have a decent
86. 2:48fundamentals it will actually slow grind
87. 2:50back and potentially
88. 2:52test the resistance in the future and
89. 2:54that's not until
90. 2:55a year or two so it's going to be a very
91. 2:57long time for the stock to recover
92. 3:00itself
93. 3:01after it's being hyped up for a
94. 3:03short-term gain
95. 3:04so the last point will be my personal
96. 3:07experience
97. 3:08as a trader that is whenever you are
98. 3:11making
99. 3:12mistakes on the front side you feel fomo
100. 3:14and you want to go in
101. 3:16and and eventually you took a loss
102. 3:19and you think about after the initial
103. 3:22run up
104. 3:22you know that the stock will bounce back
105. 3:24three to four times for you to
106. 3:26capitalize on the stocks
107. 3:27but you already made the first mistakes
108. 3:30to trading on the front side so the next
109. 3:33couple bounces you are basically
110. 3:35recovering your mistakes
111. 3:37and that doesn't feel very good as a
112. 3:40trader so you want to be
113. 3:41very disciplined and always stick to
114. 3:44your rules and
115. 3:45stick to your risk to be profitable and
116. 3:47i do know a lot of traders make the same
117. 3:49mistakes
118. 3:50they feel fomo and they go in and make
119. 3:52mistakes they want to recover
120. 3:54from the first mistakes and then they
121. 3:56make more mistakes after that
122. 3:58so the first run-up of a stock normally
123. 4:01are
124. 4:02very difficult to be profitable with so
125. 4:04overall by looking at my trading
126. 4:06performance
127. 4:06i did come out very profitable after all
128. 4:10those meme tickers
129. 4:11but also i did made several mistakes
130. 4:13that i can potentially avoid in the
131. 4:15future
132. 4:16so there's still a lot of mistakes for
133. 4:17me to improve for 2021 there's plenty of
134. 4:20volumes and there's plenty of
135. 4:22opportunities
136. 4:23so don't ever try to get the fear of
137. 4:26missing out
138. 4:27emotion and that's the number one
139. 4:29mistakes you should avoid
140. 4:30so that would be all for this video
141. 4:32thank you very much for watching i will
142. 4:34see you guys in the next one
143. 4:44[Music]
144. 4:49you