MTT - Setups

Question 1

In addition to the setup itself, what are the 3 other foundational pieces needed for a setup?

Answer 1

trading methodology

money management technique

best markets to trade for that particular setup

Question 2

What’s the difference between life and death as a trader?

Answer 2

Following setups without letting the day, week, or month affect our thinking - very hard to do

Question 3

70% of the time, individual stocks are doing what?

Answer 3

Backing and filling in a tight range, building up steam for their next major move

Question 4

What’s the main idea of a propulsion play?

Answer 4

to already be in the stock when it makes a push higher (for longs) or lower (for shorts), instead of trying to chase it intraday

Question 5

When does a gap occur?

Answer 5

when the opening price of the next day’s regular cash session is greater or lower than the closing price of the previous day’s regular cash session