I started my day trading career with Tim Sykes and when I wanted to learn more, I joined Investors Underground. The DVD’s that helped me the most were Tim Grittani’s Trading Tickers and Nate Michaud’s Tandem Trader. Software that has helped me in my early years was: Trade Ideas software. Now I use FINVIZ ELITE. Click on the highlighted links for more details. For my main page, please click here: Day trading for beginners
Pre-market watch list: TWTR, AMD, FB and INTC
Penny stock land feels overcrowded and, to be honest, overrated. Too many people want to short like the big boys so borrows become scarce. As I am capable of adapting, I look around me. What are people trading right now. A friend of mine told me too have a look at large caps and with her help, I decided to review these large caps.
Facebook and Twitter are all over the news, together with Netflix, earlier in the week, they pushed the markets down.
I was looking at AMD all morning, but she keeps crapping and pushing back again to 19.50. I am sure it wants to go to 20 dollars. But 19.88 at open seems as far as she wanted to go for now. I was looking to short 19.25 for a gap down play to 19.00 / 18.90 but this did not happen either in the time I was looking at it. It just held 19.15 and 19.25 and started testing 19.50 all morning.
Amazon was crapping with the market, so when she failed VWAP a few times, I started with some shorts. Had an 1860 average. Covered like a pussy at 1835ish when there seemed to be some reversal going on. Could have gone long their as there was a nice double bottom at 1830ish. But I do not want to push my luck. I am new in large cap land so I need to touch base first.
I would like to add here that I am using 3x margin and that I am pretty much going all in. Risk is easy to manage. Large caps follow the same rules as penny stock land. However, you do not have those sudden drops and pops. They do happen, but they mostly signal a change in direction.
What I like about these setups is that large caps follow the market and follow trend. That’s nice, as there is a bigger picture move and you can use this to your advantage. These setups, however, do take longer to set up. You need to be patient and trade accordingly. So far, I am looking for double bottoms/tops, higher lows/highs and VWAP test. These seem to be the biggest indicators for a momentum change.
I am calling it a day for now. It is way too warm today!
Who can help you?
My strategies are based on what I learned from Tim, Tim and Investors Underground. Short selling is easy, but you need to know what you are doing first.
Keep in mind that Tim Sykes and Investors Underground have excellent services that you can learn from. They have plenty of information to fuel your thirst for knowledge. If you are new, start with Tandem Trader by Nathan Michaud and Trading Tickers by Tim Grittani, both exceptional beginners dvd’s with plenty if information.
Short selling is hot business. Both Tandem Trader and Trading Tickers have plenty of information on short selling.
Kindly click the following link here for Tandem Trader:
Please click the link below for Tim Grittani’s Trading Tickers DVD:
I hope you enjoyed this blog entry! As always, feel free to share this post!
If you are interested in Investors Underground and would like to learn more, please click the link here: Investors Underground or if you are interested in joining Tim Sykes Pennystocking silver, please click here: Pennystocking Silver.
kindly note here that this should not be treated as advice, trade advice or any of the sort. Always trade your own plan, cut losses quickly and never follow any alerts. Always do your own research!