Goals for Month Ahead
- avoid options in cheaper stocks/major sectors and markets (F XLF SPY)
- if we are expecting a major breakout and we do not get it, sticking to the gameplan (giving it room) is often not the move, finding the exit is
- goal to move up the losses from 5% up to 3% max for month ahead
- in winners trying to keep as little as 1 share to start to hold longer for bigger % moves
- added back to names at your price or above your price within the trade set up if your stop holds and you are buying on the way up with the trend
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Every single stock, at any given time, is currently in one of four major stages. To the untrained eye, it can be hard to determine which of these stages a stock is currently in. Our goal here today is to show you how to identify these stages so you can focus on knowing when to buy, when to hold’em , and when to sell by walking away.
These stages are:
(1) Basing Stage
(2) Breakout Stage
(3) Topping Stage
(4) Breakdown Stage
Now, before we get into the lessons, we’d like to ask you two quick questions:
Q1. When would you want to buy a stock?
While in (1) Basing Stage
Leaving the (1) Basing Stage entering the (2) Breakout Stage
Leaving the (2) Breakout Stage entering the (3) Topping Stage
In the (3) Topping stage entering the (4) Breakdown Stage
The correct answer to Q1. is B, we would want to buy the stock when it’s leaving the (1) Basing Stage and entering the (2) Breakout Stage.
Q2. When would you want to sell a stock?
Once it leaves the (1) Basing Stage
Once it leaves (2) Breakout Stage entering the (3) Topping Stage
Once it leaves (3) Topping Stage entering the (4) Breakdown Stage
Once it leaves (4) Breakdown Stage entering (1) Basing Stage
The correct answer to Q2. is C, we want to sell our stock when it starts to leave the (3) Topping Stage and enters (4) Breakdown Stage. Then we know that it’s time to walk away.
4 Stage Summary
- Keep an eye on stocks in Stage 1 Basing
- Wait until they are above their 200 day MA before looking to enter
- Enter on the break of the high of the base on high volume
- Hold/add during Stage 2 Breakout
- Expect pullbacks, as long as the pullback is above the 200 day or higher than the prior low continue to hold
- Look for spots to add on the way up during Stage 2 Breakout
- Continue to add on the way up in Stage 2 as long as higher lows continue to form
- Once a prior low is taken out, the stock is leaving Stage 3 Topping and entering Stage 4 Breakdown, time to take your profits and walk away
-Avoid at all costs stocks in Stage 4 Breakdown
-Avoid at all costs stocks under their 200MA
Let's hear in the comments the answer to these 2 questions below:
At what stage is the ideal time to buy a stock?
At what stage is the ideal time to sell a stock?
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In this video we use our PETZ trade as an example of how to use tape reading skills to give you the signals you need to put on winning trades
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https://www.youtube.com/watch?v=v2m04q58AA0
If you found this helpful be open-minded to subscribe, like & turn on notifications :)
Kindle, Audible, Soft & Hardcover Trading Experts books available at the lowest cost Amazon will let us sell them at
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Drop a thumbs up if you learned something from this video!
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This week Shake and Ben reviewed some of there good and bad trades and the lessons they learned from them!
What is 1 thing that you learned from Shake’s trades this week?
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Chart Talk Episode 17!
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Shake & Ben go over the most recent US-China Trade War updates, some member submitted charts, their best and worst trades of the week, best ideas looking ahead & more!
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Books Mentioned:
Ego is the Enemy by Ryan Holiday
https://www.amazon.com/Ego-Enemy-Ryan-Holiday/dp/1591847818
The Rule: How I Beat the Odds in the Markets and In Life - And How You Can Too by Larry Hite
https://www.amazon.com/Rule-Beat-Odds-Markets-Life_and/dp/1260452654/ref=sr_1_3?crid=19FDKY8ES1F2N&keywords=the+rule+larry+hite&qid=1571098652&s=books&sprefix=the+rule+larry%2Cstripbooks%2C159&sr=1-3
...
https://www.youtube.com/watch?v=j79VZtD62KM