FREE eBook: "How to Day Trade" | Download Now: http://webinar.warriortrading.com/signup $CSCO (Cisco) We have a double top on a gap up into resistance, which is a great indicator for a gap fade. I could see it dropping to 52.50. $WMT (Walmart) If it gets above 104 it has room to run to 106 and then to 110. Wait for it to clear 104 before taking a trade. 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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Reversal Trading Strategy: https://www.warriortrading.com/reversal-trading-strategy/
Email: team@warriortrading.comTwitter: @daytradewarrior @warriortrading1 @Largecapwarrior “Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime" // Learn How to Day Trade and Learn How to Swing Trade
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: $CSCO $WMT $SPY Videos