Get it off your chest – be the first to comment on this video!
No text or picture Add-ons were added yet. How sad!
No Homeruns!
Typically every morning I look for things with a lot of volume, I don't focus too much on the news but I will glance at it. The main focus for me is trying to hit singles and doubles, I have never tried to hit a home run; it's very hard to hit the home run all the time. So I like to take on big size and that's why I am temporarily always looking for a high-volume stock so it's easy for me to get in and out of stocks. If I am wrong I can get out without it hurting me too often.
Lightspeed creates a filter for me that allows me to see stocks that do 200% volume, any criteria that I may look for, things that are strong off to open and consolidate, things that maybe weak off to open and consolidate. Those are the typical setups that I look for; relative strength is also a big play of mine. I'm mainly always focusing on the SMP's.
When things are contrasts of the SMP's in going against the green, I like to go the other way with them. It's a big return of relative strength and it gives me a lot more confidence being wrong or being sure at the stock. So that's typically how I approach every morning at 11 O'clock to 2 O'clock, I slow down a lot. I tend to have a much more difficult time during those hours, volume comes down a lot and it's just a lot more harder. There are a lot of people who go to lunch in 12 to 2, so that's another reason for volume being very late.
At 2, 2:15 I had start to really focus on my screen again and I try to stick to the stocks that were working for me early, that doesn't always pan out. I still look for a high consolidation place because there are low-risk. If it's something consolidating very tightly, then I know what my eld is. I could be risking 10 or 20 cents to try and make 50 and those are the type of a place I like to go for. I am not a high-risk player, especially not in the afternoon because I do typically have a tough time in the afternoon ever since that I have been trading. Big portion of my money comes from the morning between 9:30 and 11, 11:30.
Transcription by:
Scribe4you Transcription Services