FREE eBook: "How to Day Trade" | Download Now: http://webinar.warriortrading.com/signup $FAST (Fastenal) Is the one that looks the best to me. It has a conference call at 10AM EST, so wait until after that call to make a trade. It has a pivot at 30 and opens up to a big window and could put in a big fade. $BBBY (Bed Bath and Beyond) This stock tends to be difficult to trade, but it is looking good for a fade from 11 – 10.50. $CVS Has a big pivot on the daily at 57.50 with another pivot at 60 and a pocket up through 62. This also tends to be a tough trader, so keep that in mind. $LEVI If 20.40 is taken out it has the potential to fade hard. DISCLAIMER: http://www.warriortrading.com/disclaimer/ // Try our Day Trading chat room here: https://www.warriortrading.com/free-day-trading-chat-room/
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As Day Traders and Swing Traders our mission is simple. We are looking for stocks that we expect will move in a predictable direction. We want to take a position with a predefined stop level and profit target. Sounds easy right? In a lot of ways it is. But there are literally thousands of different strategies for trading the market. Every trader has a unique approach to trading. Our goal is to teach you our strategies. I have developed a series of profitable trading strategies for beginners. Our Trading Courses focus on the most fundamental aspects of a successful trade. // Chart Patterns
After you understand risk management and proper stock selection, we teach you how to find stock patterns on charts. These patterns are how we base our risk and reward. We look for chart patterns that have well defined areas of support and resistance. We will use previous support levels as our stop price, or our risk, and we look at previous resistance areas as our initial profit target, or our reward. If the profit vs loss ratio is 2:1 we will take the trade. I teach both day trading strategies and swing trading strategies. For day trading we focus primarily on 5min charts while swing traders focus more on daily charts. The patterns in general are the same. I teach traders how to find patterns in real-time including Bull Flags, Bear Flags, Flat Tops, Flat Bottoms, and Rubber Band Reversal Setups. // Trading Strategies
Learning risk management, proper stock selection, and chart patterns is important, but those alone don’t create a trading strategy. A trading strategy requires details on the time of day you take these trades, what type of stocks you like to trade, what percentage to success you expect. All our students are required to paper trade and prove to me that they can trade on a percentage of success that is high enough to justify real trading. If you can’t make money in a demo account, you have no business trading a real account. We have saved students hundreds of thousands of dollars by encouraging paper trading while they are learning. The market will be here for a long time to come. The important thing for you right now is to build up the skills to trade the market successfully. You will learn that once you possess the skills to consistently make $20.00/day all it takes to make $200 is larger share size. Then all it takes to make $2000 is again, larger share size. The hardest part is being consistently green just $20/day. So that is our initial target for all of our students. Profitable trading 4/5 days per week for at least 3 months.
More Mike’s Thursday Watch List: $FAST $BBBY $CVS $LEVI Videos