Learn To Fish Section 6 Flashcards
What are the five stocks in your rotation?
TUP, MARA, CPE, CEI, METX
If I wanted quick in and outs what would I scanned for and on what time frame?
Scan on the one minute chart adjust the RSI to less than 30 to find quick in and out opportunities.
If I was looking for a swing trade candidate, what would I scan for?
Go scan to a daily frame frame adjust to an RSA of 50 or less and a Macd of less than zero to find candidates for a swing trade
What am I looking for when I scan on a day trade?
Looking to scan for stocks that are oversold and with a Macd for us to enter at bottom on the five minute chart
When you run a scan, what should you look for and what should you focus on?
Look for emerging set ups with high volume, and concentrate on the top one or two that you get from the scan.
Why are hype plays advantageous for day trading?
Typically there is lots of volume, lots of liquidity, and a quick rise up in price. Also there is an inevitable dip from people taking profits. As long as the volume remains, there is opportunity to make money.
How should you treat tips that you just got from a Discord group.
Treat them as if you just found them on a scanner, do your own due diligence, and be sure to stay away if they are already overbought.
If everybody knows the _____ it’s no longer ____.
If everybody knows the news it’s no longer news.
An increase in volume generally means…
An increase in price. Volume generates price appreciation.
Use your resources as a…
Filter. Continue to do your due diligence once you’ve been alerted. And again, stay away from overbought areas, they put you far away from your low risk of loss.
