Live Day Trading and Management of Large and Small Cap Stocks and with JTrader

Live Day Trading and Management of Large and Small Cap Stocks and with JTrader

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all right good morning traders and welcome to  the bookmap live trading webinar today with uh j   trader stocks trader we do this every wednesday at  10 a.m how can you see what's happening and uh we   are um he comes in he comes in a little bit later  um so around 10 15 maybe maybe earlier last week   he came in at 10. uh so uh we'll look for him soon  in the meantime we'll go over the s p we'll jump   right in let me just go through some disclosures  here uh and then we'll take a look at that s p   and then get dive into the stocks with j trader  all right he will be trading live in here but   it is in demo mode i'll put jay trader's contact  information in here if you want to reach out to   him he offers education and mentorship and let's  go through the disclosures general disclosure   and this is important all bookmap limited  materials information and presentations are   for educational purposes only and should not  be considered specific investment advice nor   recommendations live trading is in simulation  demo paper trading mode and strictly for   educational purposes live trading executed  in simulation cannot accurately represent   realistic trading performance all right  risk disclosure trading futures equities   and digital currencies involve substantial risk  of loss and is not suitable for all investors   an investor could potentially lose all or more  than the initial investment risk capital is   money that can be lost without jeopardizing one's  financial security nor lifestyle only risk capital   should be used for trading and only those with  sufficient risk capital should consider trading   past performance is not necessarily indicative  of future results all right let's jump in let's   take a look here uh we'll look at the s p i  also want to just look at crypto saw something   really interesting in there this morning uh wow  what's going on in here well what do you think   cpi data right at 8 30. look at we knew this  was going to be a big event the markets are very skittish right now to any inflation data  uh and you can see the dramatic move down   uh into through uh four thousand uh liquidity here   all the way down to uh let's see it's about  39.50 or so and then look at the bounce back up   okay 4000 was an area where it it did uh test  traded into that high liquidity started to pull   back we found more buyers in here and look at  this nice flip of the order book here basically   you can kind of see it here more sellers on  the offer here looks like they transact but   the buyers come in and throw a lot of orders  underneath here finding more buyers we trade   up to high liquidity here at 40 25 or so okay  so that's the dynamic that's going on right now   and we have come all the way back up have not  gotten above though where it dropped from here   at 8 30. so that's kind of curious and interesting  here see if we can get back up into this area here   before the the news event uh and uh hunt some  some stops in there because a lot of people   are going to be short okay so we're going to be  looking for that as a potential scenario in here   and it's already in play here basically  you can see the buyers coming in above   4 000 and then they are supporting it here  underneath here now they pulled here you   can see there's some here though just  above coming into the market right now   all right so let's uh let's let me jump over to  crypto i want to show you this this was really   interesting i thought this is a binance  futures i thought it showed it pretty well   uh binance features you know it's a little  different uh than your spot uh crypto exchanges   uh it's leveraged uh and you'll see uh look  at this uh you know before the 8 30 event here   these queuing algos staying in the queue kind  of following hovering price from a distance   uh and then look what happened  here at 8 30. they're out  

right they don't want to be in the market any  longer there's risk they don't know what the   numbers are going to be where did it trade  right down to high liquidity here at 30 000   continued on high liquidity comes into the market  down here we don't even get to it though all right   this is around 28 800 or so and we can see a  beautiful bounce here now curiously enough this   already has tested back to where it dropped  from here before the news right and it looks   like it's going to go for it again here so  we have some crypto traders interested in   here and they pulled a lot of liquidity here  at just around 32 000 a little bit above it and let's just zoom in here and see yeah you  can see where they pulled it here uh and i'm   looking for these traders to trade right back up  to it okay so here here are some buyers already   they're above this little range here now what  we need to see is more buyers coming in here   let's uh get a little more realistic  here about this uh and look at a range and start to figure out like you know within  the range what's that buying and selling look   like here okay so we have kind of a upward  trending slope here and we're looking to see   if we get more buyers up here so we'd look  for like pullbacks into some of these areas   here it's pulling back to this area here 34 or 31  400 okay that is an area of importance here's why   okay this swing and acceptance above it uh and  let's see if we get more buyers come in here if   we get some sellers below it i'd look for them  to test down to our trend line here we have a   beautiful kind of you know high volume node in  here or you know bottom of the range in here   so somewhere around 30 1 200 you know  31.50 or something like that 31 150.   so uh that's where we'd be looking  for these buyers to come in   and so i don't see anything right now a little  bit of selling coming in right now below   our little line that we just put in  at 400 and so let's see if they might   might bring it back down to about this 200 level 1  150 to 200 looks like they're going to looks like   they're kind of going for it we see these guys  lining up already at 200 here as you can see okay so we're just about there at two hundred right now let's see if  we get some buyers coming in here or sellers okay i mean if we're  looking for sellers then we're   looking for the bottom of this  range here around this um 31   50 150 or so a little bit a little bit below  it there they go okay so now they've tested it okay going through it all right so now we're looking  for another scenario here and it is above this line here around our  140 150 level do we get buyers above it   is this a false breakdown and then we're  looking for a short squeeze or is are these   sellers for real like we're gonna just see  the uh continuation in here to the downside okay so we're hovering out our line  here no insight at the moment here   kind of tense here waiting  for some sort of insight here okay let's see what that happened see the  reaction to that liquidity at 100 right there   sold off looking for more sellers then to see if  they can try to reach back down to 900 or 800 here   it looks like the reaction to this liquidity  this more supply here was sellers okay so that   scenario once we got down here and got a little  more clarity we're looking forward to sell off okay it was this liquidity and reaction to  it that helped us make that that clarity or   give that clarity and make that decision so  here we are down at this area here there was   liquidity in here before around this 800 and  we should see a little bit of a bounce in here good morning bruce good morning joseph how are you   great uh great morning good morning  everybody good morning book map traders all right so joseph if you can share your screen  in here all right in the advanced webinar area okay let me know bruce if you can see  my monitor with bookmap yes and let   me pop that out and put that here all right so  everyone should be able to see jtrader's desktop yeah there we go all right looks like you're  good to go perfect thank you guys so uh before   making a recap of the market i want to go over  here uh a stock that is up trending right now   we're talking about the stock with 60 million  six million volume traded uh it's also   a small cap because this is a uh microflora  company we have about 3.44 million of floats   so that's extremely low we have a very low also  institutional ownership we're talking about a   three percent and market cap is only 56 million  uh in this case i'm uh observing over here the   the price section that we can see on bookmap and  you can see that the majority of the the traders   over here were simply buying right so we had  like a six dollar reclaim and i came extending   to 675 so after daily breakout now i'm looking  if we're gonna have a fake out so i'll close   below that daily level uh the day level is a 6.50  so i'm looking exactly this price over here 648   650. let's see if we're going to close below you  can see on the daily this is a stock that simply   passed from around 60 bucks i'm talking 60 buck  traders in the last month to three bucks all right   now it's gapping in the last few days because a  lot of traders what happened they're gonna think   this is a discount so they're gonna try over  here to buy and and hold because they think wow   four was 16 now it's three dollars or five bucks  and a half this morning so this is discount and   let's buy something over here now i'm not sure  over here because i don't have bars unfortunately   this morning on this one but i i wanted to go  over the the price section that we had i'm gonna okay i'm gonna use this uh this chart actually this over here the one minute all right so we can see traders the the volume  over here is not that high so for a six dollar   stock we're trading average of 250k per  minute that's a small amount of volume so in a stock like this what  i'm waiting for i'm waiting for a level and on that level i want to see a stuff  it could be the reclaim of the previous eye or it   can be a lower high stuff right so i'm looking  for that and ideally i'm looking for the fader   i'm looking at the 650 as i said before  because it's this daily resistance   so it's an important aspect in my  trading looking for those daily levels let's look together at what other  possible resistances we may have so   one would be over here the ten dollar area one over here at the 712 and then this one over here  at the 650. so let's put a   a four-hour chart i think we can see definitely  even better this is the price action right now   so that's the support we're seeing here from the  gap that's the sorry the resistance now we see   another resist 712 and another one over here  that it's just testing it right now this 650.

yeah the the ask is a little bit like  stack but not that huge amount of   size but we still have like between 665  and 680 uh some good amount of sellers we fill the support 630 we  have a micro consolidation i think we're gonna see some good sellers over here on the tape so what i'm adding over here is times and sales we're gonna filter minimum size just  put like for today one of the shears all right remember if we fail the 6 30  we're going to have a probably a wash   there we are so it's breaking at 6 30. i'm selling something stopped over here they're reclaiming the 6 30 and you can  see traders they put back some buyer here now when we have these fake breakdowns remember one thing if you have a fake breakdown  like happening right now in an uptrend this is often a good area where long traders right  so buyers will stop out shorts will start like to   get in a position and if we reclaim it i  will see over here some good amount of volume   then on a trendline break and a curl i will  look too long for the upside right now i   don't have that liquidity that we had for example  before so i'm simply waiting sideways sidelines they're testing again that's 6 30 breaking  down you can see over here they're passing   some liquidity boom again absorbed two  times over here somebody is absorbing   into the 620. so i said this morning we're going  to look together at the manipulation how to read   the volume how to read or the flow to understand  how to trade stocks small caps and big caps   and over here this is a perfect scenario for stock  that is up trending micro float flow rotation   that is basically showing  traders over here i use amount of   volume but i also use amount of manipulation  so fake breakdown boom push it upside now 650 so we have the trendline break over here i want to see increase of momentum over here right so we have a first wave a second  wave a third wave over here   possibly formation of fourth one we need to see  over here higher high and also volume increasing 655 so what i'm watching is this trend break again i'm not buying traders over  here i would need to buy to a support   ideally the v web is where  i was watching for a buy   or the j lines or simply shorting a  big stuff as i said before or parabolic this morning i traded mainly tesla or a good  short wheel review then tesla morning open short so nice pattern over here making more highs lower highs so  we're waiting for this and this   i want to see a consolidation  over here for longing that dip we're starting to print green 655 now in order to have a break over here of 660  we need a massive volume so we need more buyers   to come in there we are 660. so this can push  to the highs over here so look at this 675.   always careful because at these levels over here   if we touch this pre-market our  previous high we can have a stuff it's a fast wash yeah some liquid over here stack at 6  670 73 you can put this as our guide careful in case it stops they're still trying to hold it you  can see liquidity coming so green careful now we close below if it comes away if we  have a break over here of 660 another wash coming not long i'm not i still didn't  take a position this morning on bwv   the only trade was apple in tesla buyer 670 has been absorbed over here so somebody  sold 20 000. so we have some big sellers up here   probably the morning buyers over here they  found out some good liquidity to dump into support 660 went away more sellers so next level 712. also we can put up trendline over here okay this is our uptrend line this is our break  over here that's a stuff until we hold this trend   line until the zone over here is green this is  still for the upside still front side of the move already traded almost 9 million volume   so remember the float was around 3  million so almost 3 times flow rotation this is a stock i traded in the previous days okay what i like traders over  here is these sellers that we have   53 also we're here now 55 66 72 and  they're trying to break this trend line   uh they're refilling over here the 53 more  if you break the 48 prepare for the wash this is the level that i'm watching exactly this so they're buying over here  just on the trend line right that is the level that i'm watching no more support below 650 652 i was watching for uh also a volume divergence  pattern but we don't have it over here   i'm going to try and look at uh five-minute chart all right so we can have a first  volume divergence over here   this bar so you can see two higher highs right  uh from the bar 1010 and the bar at 10 20.  

so higher highs lower highs in the volume  so when i have this pad i'm looking for   a breakdown and then a secondary pop  and then taking the short in this area so this is what i'm looking  for volume divergence right   over here so price is increasing so we have like  a runner or a grinder and the volume is decreasing   so means that we're going to become exhausted on  that move now doesn't mean it's going to reverse   all the way down but we have good chances  for a big pullback so first trendline break   go back to the one minute chart then i like to  keep you know more than one chart together so   i analyze what happens in the one in the five  minutes you can see over here sellers right uh   you don't need to put your trend lines it's just  easier and uh personally what i prefer to do i   like to put my transactions a trend in line sorry  in bookmap look over here fantastic break right   just very easy stuff very easy stuff then i will  show you how we took the same thing on on tesla now when you see this remember  we have a manipulation   which is at three times the flow rotation uh we  had both sides manipulated and for a lot of you   that you are not familiar with manipulation  what is basically so imagine that your plan   is to is to trap traders you are a market  maker yourself so what are you going to do   if you want to trap long traders you know  you're going to create an environment where   you will make visible a breakout to everybody  and you will make it believe that it's so simple   to trade it so everybody over here is buying right  breakout traders they're looking for this to push   and it doesn't mean that eventually the  stock doesn't go up because you can see   eventually it goes the stock doesn't go up  when we have a breakout the stock goes up   when we have for example a dip that's  the time that you want to enter   this or over here like we said and we  analyzed before two fake breakdowns   and then over here we had what another breakdown  at the same time we had also fake breakout   so both sides we have manipulation here here  here twice here and here now if you look at these   patterns on many of the small cap trades uh  small cap stock that we take we see the same   kind of ventilation right so what i suggest is  to screen share it to save it and to study it reclaim again the 550. uh too bad on this stock we don't have shorts  at least personally i don't have uh bars so if you are curious to know each of these dips over here where basically we  stall right uh you can simply put uh 20   ema on the on the one minute  chart right you will see that so if yes will continue to move in this way   we're gonna pull up soon tesla let's  just give it like still 10 15 minutes now the best shorts or best longs that i take  are based on two main factors one we need the   chart pattern chart pattern it could be from a  chart pattern let's say like a double bottom or   a double top plus an important level this level  could be a daily support or a daily resistance or   a pivot right or in today important level and then  i also need to see that liquidity um an example we can put up this an example  just to explain one second uh you should be able to to view now my screen so when i'm looking for this is tesla right is my  i would say the stock that i traded the most in   2021 2022 before what has been apple and netflix  so when i see this right so when i see a first   main first of all this is an absorption  and then they start dumping over here   the second time that the scenario will represent  you can see that we don't reject immediately but   we have a fake out this is my stuff so a  fast push fake out right away rejection   so that's the reason why i was saying before if  you are a market maker you will look the ideal   price where to trap traders so you're not gonna do  it over here you're gonna do it at a certain limit   all right so this is an extreme it's  an extreme into the high of the day   i don't remember now if this was also daily  resistance uh and then right away we had the dump   so i can just see over here even if we don't  have the you know the dots in a big way   that the first part of our chart over  here for our move i would say that we   have the majority of buyers look those blue  right so we have the majority of bidders   buyers so the majority of the met and then at  a certain point our start seeing over here the   majority of sellers especially sellers  that on the breakdown they are dumping   so in about over here five minutes because  this happens in in five minutes this shift from   over here to here right five ten minutes uh we  have really the shift between a demand and supply   once you know this your trading will improve so  much you can recognize this good you'll make money let's go back to our setup over here on a bwb so now it's 10 37 almost  10 38 what i do i run my scanners during the day   so uh doesn't matter which scanner whatever you  want i still looking for movers i start looking   for news i start looking in this case for stocks  there are a gap in extending above 15 so i will go   over here to my filters and i will change this to  15 i use 20 for the pre-market and where did it go all right so i'm gonna just put over here  this so in the meantime that we're trading   also i'm gonna put a volume  over here i wanna see at least   300k right i want to see a little bit of  liquidity so we have afi it's a 29 cent   not really looking at that bwv is the one  we're watching track um it's not that volatile   we have just about 700k so we'll check this is  nice stock so let's check one second uh track all right nothing this just looks like a  buy out so i want to double check the news track down here so private to the here 981 surely okay so  it won't really move definitely agreement   to be acquired so acquisition let's leave  it why bwb is up always read your news so   blue water vast scenes oscar health top  healthcare gainers innovo so let's see single seeking alpha what they're saying yeah no really news but i believe that is the  point that we lost so much previously and now   we're finding like on the daily uh some some debt  buyers right let's go back to bwp and i mean this   is really exciting because it's been holding  over here this area all morning you can see this   up trend line right now we can even put a  second trend line this one is breaking out volume is increasing you can see  over here breakout let's look at this   for this sprite over here  683 mah bear yeah this way and now just let a glance what i'm starting  to look over here or we're going to have this   zone where i want to buy or this what i want  to buy but at the same time i start looking   for a possible re-wave pattern right so  this is a pattern that i like to trade but that i won't be trading until  i don't have a trendline break and   a rejection over here i don't want to  enter on the front side of the move   unless i have this main stuff or a parabolic  moving to the daily resistor right now 750. you can see over here it's time we get really  to those top levels just look over here traders   right each time we get to that top level 675 680  look the dump that we have uh why i believe that   more than short sellers we have some holder over  here maybe some big trader or some big i would say   hand like i like to call it that is waiting it's  time for those pushes to dump partial of his uh   office position maybe there's even one more  than one player because you know the volume   is pretty big almost 11 million and it's not even  11 o'clock so i believe that each time we see over   here some kind of good liquidity so somebody's  buying at the same time we have the the seller   and i wouldn't be surprised so let's  try to be a little bit more attentive   if we have also him or them  depends if it's more than one   spoofing a little bit so trying to over here  hold the price up not to make it go down maybe   even like collecting a little bit more in this  fake breakdowns and then for pushing it back up   so these are the things that in a second moment  when you start like reading very good or the flow   when you start seeing like who's in control supply  demand the patterns you have to look for so not   only are the flow but also or the flow together  with the manipulation in order to understand   how the price action moves and how  the big hands will try to trap you okay still holding over here making still higher  lows but lower highs so when i see that instantly   i know that we have a contraction right so  this leads to or a big push or a big dump again support over here around six  forty six fifty start watching this main j lines over here are 6 20. they just don't want to make it like fail  over here they just don't want to make it fail so support 640. careful traders breakdown coming  possible wash again to the 630   v-lab over here uh look at the times and sales  i start seeing a little bit more sellers 44.

okay that's 6 40. we have this important support 646-42 as i still not fading bounce again 655 green again they  simply don't want to make it die so netflix is pretty sidelines  pathways pretty sidelines and vdi sidelines so we have to wait i'm waiting traders  for on the pickups right now uh once   uh bwb is done we're gonna go over possibly tesla  and apple just wanna explain you how this morning   uh the way that i read bookmark was so clear  for a trader for the trade all right so clear   so that you know next time you can i don't say  trade right away live but do your practice in   demo start practicing first experiment  see if you're able to do it recognize it   and also one suggestion is record your screen  record your times and sales bookmap over here   you can shift parameters and i invite  you if you need help to write me in the m   on on discord i will help you uh also put  up one or a five minutes hard or three   minutes the one you're more comfortable  try to record the screen and re-watch it   now you don't need to re-watch seven hours  and you know price action really doesn't move   but look those moments where we have reversal  bounces fades big orders big sellers buyers   and so on right those are the moments that you  have to focus what happened on the tape how was   bookmap did i see a big seller it was a sold  that we have a clear pattern all of this right and i guarantee you that it will really  help you in becoming a better trader again 640 remember we are saying before  support for rx 640 possible watch the v web   there we are watch the 6 30. now look the  sellers over here so we have some decent   one there we are 620 there we are six now  careful because often what they could do wash fast reclaim the web bin push the upside   we're now they're starting to hold  over here this is the sweep indicator so you can see instant rip to  downside sweep indicator coming up   now we are holding below viva but often remember  we can have like a reversal fast over here so good play again don't have the bars on  this but good play analyzing in this right okay another seller over here just below v web and i'm starting to watch now tesla so as i was saying before  tesla is the main stock for me nice over here first breakdown of the v web yesterday i made an analogy on tesla and  we were for example looking at where tesla   what's the possible target on tesla okay so the  market over here in these days is pretty bearish   i think that uh if yes we'll continue to fail  sorry spy will continue to fail below this 390.   the main target based on my strategies it would  be a 360. so therefore all the other stocks  

that are uh following and now i was saving  bitcoin they are following uh the the indexes   they will probably unwind so i'm looking at tesla  for example 750 and then authority of 700. so   these are not really observed targets because i  made for example analogy explaining this right   the point is uh we have to wait we  have to wait and see what ess is doing so uh this is not me but it's just like a way  how to execute the trace so you can understand how to to short over here when we have  the crack and this is pretty pretty good now let's see new gappers we have  nothing for now so c e l h track rgls   afi so i'm going to stick to tesla i think it's  a little bit still early and i will explain why this is a one minute chart i mean we can even   use a five minutes only to see a bigger  picture so trend line break over here yeah next next target definitely 774 and then 750.   so i'm not sure of it here why because  we're still in range for the morning right   so i need to see yes like starting to downtrend  spy and q and everything and then of course we can   take uh a good short also on uh on tesla we'll be  looking at vida facebook rabbi apple this morning   i was also looking at coin which is a learning  miss coinbase remember had uh some very bad news rdbx also breakdown and this morning i was not really looking at rdbx   so it was not really like my  my first stock to trade uh it's one of those stocks that is really  beaten down stock just look over here   traders on the daily i mean if it will  be interesting we may put up a bookmap   but i mean look how it works with the levels  right so we had this resistance at just six   and this morning with the pop into the six over  here and now it's pulling back more than one buck we're talking about small  caps so let's go back to tesla these are nice sellers look at this  tape i don't see really any buyer and   this is when i like to start shorting  tesla i would say some heavy players we're going to put up alts over here times and sales let's zoom out a little bit so we are  below the trend line stock is fading my plan this morning was  to look for a short and uh i just want to make you understand  not really to show my my trade   but i mean what's actually i can  just show you one second right now uh so that that you can  understand uh the price action so that is the morning trade pre-market and then  over here shorten the gate right for for the fade   the point is we had a very good read i  had personally a very good read on tesla   and the reason why is because i see this every  single day i mean i watch tesla every single day   uh if you start looking at the same stock if you  start looking the same or say patterns trying to   recognize right tell this lately uh this last  last weeks is doing always the same pattern so   what it does over here is uh what i call the  pop-in feel right let's see if i can put one   of these screens over here i don't want to blind  you before i add even a black one i don't know why okay so in order to understand order flow we have  to think about this so imagine that this is the uh   the previous day close sometimes tesla will be  here so gapping up sometime tesla will be over   here right so when it opens take a reference for  example the v web we can put the view up like this   we can put the view up like this sometimes a  stock when it opens will be above the v web so   what i see is that we can fail pop and then  over here i'm looking for a rejection so   this is a pop-in fail and of course i  have to look if the previous day close   will hold a support and bounce back up or fade the  second scenario so imagine again we are trading   below in this case the the previous day close  and uh this is the v web we are opening above   again we can push this push often  could be to the previous day close area   and then we can start shorting over here  higher and then we have to wait for the v   breakdown because sometimes can reverse and  push all to the upside now having said this   start looking at tesla and i'm gonna put a five  minute so that you can see yesterday closed sorry over here so there you can see yesterday close  remember this morning we had data right around   the 8 20. that's the reason why i started shorting  802. so yesterday uh we closed into this area  

so around 790s 7987 and d7 right and this  morning we had to open just into that previous   day close all right so we had a push right  away to that close and then started to fail   and if you look traders over here if you  look what happened on on the bookmap this   is one of the saddle that i simply love we open  above the viewers remember what i just told you   it popped where to the previous day close  it started to fail over here the view up   and then here they are starting to bounce i mean  once i see that this bounce cannot continue and   reclaim the high of the morning so after the open  that's your short and that is how it went down   now you can tell me jay this is gonna fail like  you know uh 100 points like usual but i can tell   it was still a good fader we had even a second  one right so it came a second time over here   above the v web but it couldn't break the open  level it rejected again and what happened after   rejection of the heat map view app again  uh perfect lower high of the v web that's   a beautiful setup so i simply love really  to see this setup over and over and over   look what unwind over here so that was the juicy  one for the morning over here you can start seeing   you know more selling pressure and a  certain point we get over here exhausted   exhausted support we started having like buyers  you know less magenta sellers over here again more   buyers in control more buyers in control and then  you know that eventually went green on the day   now what i'm looking is for another  fader if yes will continue to unwind   tesla will be my first  candidate to be here for uh sure that's some some wild action in uh tesla  there yeah i mean tesla these days bruce and   was simply amazing my friend was uh going up  like uh at the open a couple of bucks like   on the 26th and the 28th for of april and then  dumping them happened like a couple of days ago   and it's one of the most volatile stocks right now this is this is great for your  directional trades i mean just fantastic   take the directional trade get out you know uh  yeah and then let them do the deep pullbacks   uh and then get in again exactly exactly for me  that's one of the most important principle i mean   i don't you know that i don't really want to enter  the breakdown like for example uh this morning on   my uh trading i didn't look to enter over here  because i know that over here first of all we   have a support i've seen bookmark over here with  liquidity uh now uh if i enter in the breakdown   where i'm gonna put my stop my actually real stop  was over here so that's really not a good risk   reward ratio that's the reason for example that i  take the shorts over here so the high because my   my system tell me to go there and i stay away  from this maybe i will take profit down here   now i don't short now yet because we  have this main support from the morning   so my idea is to wait for the crack of  780 starting to see like some pullback   and then looking if we can fail the  midday afternoon that would be amazing   of course ronnie has traders all right so  always have a guy yes spy cues and enqueue micro support over here on tesla's 783  i just simply love this micro support   this seems such a good  distribution pattern over here   and each time now they they made a a small  consolidation i was looking before the   like over here you see traders this is a small  consolidation what i like to call him jim slim   i was starting a trader in the remember my beer  yeah in the 90s i i don't remember his name so   pardon because if i don't call his name but i  was watching this trade in the 90s early 2000s   and he called this uh this pattern the zim slim  right now you can tell well it's a pennant or   a flag or whatever but anyway we have that uh  very very tight narrow uh short consolidation   i i just call it gym slime all right breakdown  over here of a distribution pattern beautiful   you can see over here sellers jumping  in i want to see the speed a little   bit increasing over here is that it's not  increasing increasing in the speed right   times and sales has increased because you  want to see more like stop loss coming in rdbx in the meantime jaylin's bound simply sick  but again i didn't have this morning rdbx in my   playlist so i'm not really traded all right speed  of tape is increasing look over here so we can   have uh if we break this 781 which is my support  and also we have 780 now then we can have 7.75 seems like the market started  again too sorry found a direction uh my beard yeah check if we have over here on the  one minute and also nvidia right now is starting   to unwind so of course while i'm over here with  you traders my beer is managing uh the trades and   we're looking at nvidia facebook and uh tesla  i really like this uh this continuous sell-off   on tesla right now this support should crack  maybe a small bounce but should crack over here   so why because we have a steady amount of sellers  joining over here steady amount of sellers   look at this uh this drop right  each small pop is sold off big magentas versus the the blue the blue ones this right now is starting to see a little  bit more we say range for the day on   uh on tesla but i would like to see  eventually 750 in the next day so that could be brutal crazy volatility i  mean it was at 12 over 1200 um you know yeah   a couple months ago or something yeah  bruce it was it was simple like crazy   but i mean the worse is this buddy the  worst is this just look at this stock and uh it has some crazy dumps during  the day now if uh td over here is uh   updating all right so look at look at this buddy  380 like uh six months ago eight months ago   and we went to 170. uh yesterday was  looking even a stock i believe was pitten   i i i follow peyton a lot  because uh look what he's doing   right you know what's your position over  here shorting what's your position by inputs so easy things right easy things not really   hard right now market is basically  giving me all like shorts and this is the level where we  are right now okay so we are   on that main support then we have the 754 and  then we have this 700 over here 697 is 700.   a quick question on facebook uh that's  what you're looking at just before right   uh yeah of course yeah um so uh i'm just  wondering like uh how you started to look at   the weakness in this stock because what was  the earnings report in the earnings was just   horrible is that what it was uh yeah and then you  know it came up also the news that there is a lot   of competition for the murderers you know like  disney's doing one then we have apple doing one   so even for that you know facebook is like  putting ourselves in in in the metaverse   right now that's like you know they're like uh  uh main goal but there's a lot of competition   and you know reading the news over and over they  stated that that is one of the main main causes   of all this field plus of course the returning the  guidance and everything yeah because like you know   you might have your intuition on what it's  worth uh but fundamentally you you need   the data to tell you like and and then there  you covered it earnings and also competition   yeah i would say bruce that is always you know  uh in union between uh technical and fundamental   analysis now how much has to be technical  analysis which i include also or the flow inside   versus the fundamental analysis well  for a day trader so in my case day   trader i invest long term but right  now we're talking about day trading   so according to me to i mean at least my  experience how i i mentor the successful   trade in the past i would say that order flow and  technical analysis is like 85 90 percent equation   and once i see um even this cross over here  of the j lines to the downside on the daily   and i then refer to a a shorter time frame  right so i start referring to uh for example an   hourly for our chart i mean then i start looking  really for you know good patterns for for a short   yeah yeah i mean it makes good sense  like it you know when is the the emperor   you know finally not wearing clothes um  and uh you know facebook uh uh peloton   um some of these other ones like you just kind  of question like really like where are they you   know are they really worth what they're trading uh  exactly i mean just look at the majority of these   coins that we're trading right now okay  like even the bad news on coinbase today   or just look at baba so alibaba how much really  like lost in the last year something incredible   and we're a trader who is not really only an  investor but a trader who can manage short   position and also options like buying puts so with  a very small amount of capital you can have like   excellent returns then as long as you  have liquidity you're going to make money yeah yeah makes makes sense i mean it's nice to  see some common sense kind of filter back into the   bigger picture here yeah thank you for for telling  me i have a little bit of common sense buddy   well no you're you're spot on all the time  uh very very uh uh uh stoic with uh with that   so last night bruce i i was in a you know in  a webinar podcast on youtube with trendspider   they invited me know and they asked me i listened  this they asked me jay uh how are news important   in your trading and i stated this i stated like  you know for me it's what's really more important   the technical analysis in northern flow because  it's true because it's true i mean i say what i   believe in and what i see it is bringing me like  good results you know yeah uh progress just look   this uh this traders is uh an absorption look over  here and uh this is a beautiful over here pattern   uh so 780 i said before for me we're gonna have  a breakdown and i still believe in that but okay   somebody soaked over here so they exhausted the  sellers for that moment now two minutes passed   from that level we had a bounce over here 783 i  still see like some sellers over here on the tape   uh they they have 19k 20k on tesla  which is not a huge amount of uh   of liquidity if we break this 774. so let's watch  over here for a possible breakdown and look at   these uh these prints over here i mean we have a  lot of sellers there's no doubt over here we have   a lot of sellers we had even like no buyers on  these peaks look how many times this is exhausted   so until we are below the 784 over here i'm  still like short bias on the stock seems like   another distribution pattern for the morning  so let's uh let's continue to follow here yeah i'm really curious if they're  going to stay in the market there those   those buyers on the bid yeah yeah yeah  they seem to be legit over here yeah but i mean or they're like shorts from higher  prices and they're just like covering over here   or they still want to build you know maybe a  bigger position they're i would say averaging   or like maybe they have like position 600  they're into their position because we get we   we say that tesla is one short seller killer you  know a lot of funds over here traders they lost   a ton of money shorting tesla so some hedge  funds losing billions shorting tesla in the years   right this doesn't mean that tesla can't be a  good short for the next few weeks or the next   few months right just you have to  be careful because history tesla   news comes two seconds can go up like 50 points  all right so we're touching the 784 over here so we had over here the previous consolidation  when i say consolidation is all this level   right here right also at the previous  level so we are below the 783 and 50. so i'm still not short i will  take this position if i have the   confirmation that over here we have  a weakness i'm looking also at yes yeah that's a question about how you  um look at the es in relationship uh to   some of these stocks okay so uh we would  need me and bruce over here to talk at least   one good hour only for this because  it's not that you know i tell you now   es uh is the guide or enqueue is the guide or qs  is the guide for the market for certain sectors   and you know you have this and you will trade this  and everything will be fine it's not like that   really it's a question that needs i would say  more investigation in and more explanation   what i can show you for example we can put it  up here and i have another monitors i have yes   i have vixx i have the thick i have the eqs  i have the nq i have the spy everything but   you know i don't want to confuse you with too  many things so what i suggest is just to keep   even a normal chart unless you three futures  with a one in five minutes like very very simple   something like you know like this will you  put all your levels of support and resistances   into day or the previous day right days  and then you simply look if we have   or say a fail below the v web or a bounce above  the v web if it's continuing to make lower highs   so unwind or higher lows so an uptrend and then  you start seeing like all the sector for example   tech stocks is it like fading you start looking  at md tesla or md i prefer to look at nvidia apple   i prefer to look at facebook that is your  guide now market is uh unpredictable so if   a news comes out for example in nvidia uh or an  earning or an upgrade or co stating something   that could be i would say um individual  relative strength so you will see for   example facebook or nvidia with the news pushing  in a different opposite direction versus yes   okay means that the relative  strength in that case is very high but if i tell you traders that 85   of the trades i took on tesla and apple  in the last uh what is now may five months   there were 80 85 percent always with es as  guide and the win rate was very very high so i'm still like with id over here we can fail  so we're going to look if we can have this unwind i'm still not in a position and what's the same time the facebook nvidia and that was great uh joseph i mean all  those market internals you're looking at   uh and um it is a big much bigger discussion and  and um yeah one one of your strengths is certainly   keeping things simple uh and uh so you know how to  react you know what you're looking for you've got   numbers behind it you've studied it you know you  have an edge uh you make such a such a distinction   uh it makes you a professional trader uh and uh  i'm i'm wondering though like looking at sorry   bruce if i interrupt you are just short over here  8240 uh tesla okay on my accounts actually mama   bear shorted them for the reason that we have  the trendline break that we were just watching   yes making a leg down and then i see you know  what i call my wrist level i love him i love him   because uh my beard is not in with 5 000 shares  so we have a clear risk now i believe the 780 will   go and we're gonna have a drop boom there we are  we're writing the money 8250 over here as uh entry   and now i can put my stop right here  sorry bruce but i needed to say this and   explain traders no no house to look at this  tape reading on tesla more important absolutely so looked at 20 000 i mean it was used  right we bounced over here before but   this didn't mean that we were bouncing all the  way up we bounced into this area of consolidation   i was wrong because i was saying 784 but you  know it's not a precise level in this case   we have a resistance 784 785 so we bounce into  this series over here now we are trading that   trending down after trendline break this is a  support 774 and 50 so where for example mabier   i know that she will scale out partial and she's  smarter than you know uh i would say myself maybe   of course you're smarter but over here what she's  looking at she knows that our support is 774 and   50. but she are adjusting this with the fact  that 775 we have a a decent amount of support  

so we don't want to wait you know like the 775  crack to take a little bit of partial so we're   going to stay probably like 50 cents above that  and now being that we're short of 782 and 50   our risk is gonna be in the money so 780 so in the  worst case scenario we're taking two bucks and a   half but of course we wanted this trade maybe  to go 20 bucks 30 bucks a day we never know this   so it's very important for me that you traders  started to understand not only oh it's a heat   map it's a trendline break is whatever v  wap stuff i'm shorting no that's i would say   30 of the equation everybody can take a good trade  but i would say the majority traders cannot manage   to have the best result with that trade and that  is where you have to grow as a trader and i'm   telling this because uh being that i meant from  traders i know the main obstacles for traders   and if you do this your r won't be sufficient to  make a living in trading because you will cut too   much fast too fast your wins and then when you  have losses you will have like four hour flosses   so you have really to improve these scales if  you want to be a trader in this case you don't   have to get scared because over here you see  you know not anymore like sells we still have   sellers even if the majority over here are in this  case buyers because we have i believe like covers   i don't start seeing over here higher lows are  lows and a huge amount of buyers that i get scared   and know that this will push up above 780. so  right now what i'm doing 779 and 50s are trailing   and look over here we're almost  the main target and it's okay   if one time you'll get stopped and the  tray won't work it's okay if two times   will happen this but eventually if you have  a good strategy you will make your profits yeah well well put because you know bruce i saw like you know  some some good trades from members or from   traders over here even uh in in in the book map  community that i mean they took some good entries   and then let's say they took 10 points out  of tesla when tesla went down 90 points   so that day you take 10 points the day  after you stopped like four four the day   after you stopped out for four so your  plus two commission and everything light   whatever energy you're gonna go break even or a  small red if you think like i don't say 90 but   still a big part of this night maybe like 50.  of course even if you have all your expensive   losses you're gonna still be like plus 40.  so that's how you're gonna make the money risk management traders risk management all right so again 779.50 we will trail partial  then with the other stop is 781 so always   in the money never let uh we say a winning  trade turn into a losing trade never and you know traders why you do that the point is a lot of traders get like i would  say too happy when they see unrealized profits   until you don't close your  trades that's not your money and you cannot fight it look over here we have a little sweep at the  780 because it had a big push if we close down   below the 780 that would be another possible  add to our position so over here we really   have a fight and if you've been looking over  here at the size you can see really that   there's like a 50 50 buyers and 50 50 sellers  all right so they're trying to keep it down so now we hear my beer is all out so she took our  profit is what not a huge profit over here but   still she did a decent trade and if we're going  to have another setup we're going to retrade it   you don't have to be stuck in your position like  you know you're shorty you were for example up six   bucks per share and now you see like you're only  they took two bucks uh so you're gonna continue   like risking more because you cannot you know  accept the fact that you have not anymore those   six bucks or possibly you'll be looking at p l  the p l i only watch it when i close my monitors   all right never watch it never  do it while you're trading right now is stuffing you see right  away fast rejection i start seeing   more sellers over here look at times and sales a this thing over here seems like gonna crack i mean it's a beautiful stuff over here what  does it mean over here that we had like sellers 782 and 50 is the last chance for fail otherwise  we're gonna go back up to the 785 787 790 i'm telling this because i know where  we have like the main catalyst up here   so let's check this price action small liquidity area is 782 it went seems like they jumped over here on the bit or  they spoofed we have a small one over here careful so somebody is refilling over here the  782 because they ate a decent amount of   size and you know they're refilling  so we have another seller jumping in   that's good i mean that's good if you're  looking for a more fader over here trendline   below 780 and 50 we can have more and wide  right now about 782 by buy is gonna push we have hidden cellar traders 782  on tesla he's clear like the sun crystal clear oh there we are so over here we have  the breakdown of that 70 support there we are boom   so that's why i said before it's important to  put your trendline we just put like 10 seconds   ago and then i can't right so that is now you  want to see a confirmation of a close below 780.   otherwise what happens over here  that we're going to have another   pennant and this could push still to the upside so you see breakdown 780  reclaim the 780 and now popping and understanding this gives you a clearer  picture uh of how to trade something like   tesla which is so volatile uh two days ago i  had a tape reading lesson with uh with a trader   and uh i went over the level two  the times and sales and the bookma   and he asked me honestly jay what  uh do you prefer tape or or the flow   and well i know how to read the tape pretty pretty  good but i told them honestly and that the way   that you can see structures on multiple assets at  the same time on bookmap is something i would say   far beyond what just tape reading can do  because tape i could read it pretty good   if i have one stock maximum maybe two but i'm a  trader that i'm looking six seven eight stocks at   the same time and if i don't look in that moment  on that precise stock i don't know what happened   in after 10-15 minutes with bookmap i just  need to look over here and i know what happened   and i could dig into and see how much size  was traded it's not you know like normal   times and sales or every single like you  know broker that after what 30 seconds one   minute if you don't filter it you don't see  any more like the the size that was traded   okay so that is what's interesting for me multiple  products so multiple assets at the same time   and right away at a quick glance i can understand  the price section over here in the traders in the   meantime another stuff brutal right so tesla  doesn't have any kind of intention over here to   push there's an app so you cannot fight the  trend over here it's red everything's going down   candles are red zone is red for now i'm going to  stay with the with a short bias nice juicy heat   map this level over here 7845 again a breakdown  over here so there's a little bit of uh war that's fantastic joseph i i love hearing that   you've kind of made the link or relationship  between the time and sales skills that you've   uh culminated over the years to directly seeing  it historically in the chart uh in bookmap   yeah yeah because bruce when i look at a  stock and let's say i'm going to look at tesla   if you take now normal level 2 in tesla you're  going to see almost all the prints the same   i mean i'm just watching right now between uh  okay zero so means like it's below 100 shares to   maximum 200 shares i'm not really gonna understand  much even if i have you know like the full book   that gives me all the depth when i see something  like this and i love to keep it like just big   i can understand so much because i will have my  chart my chart will tell me over here we have a   consolidation area of resistance i'm gonna see  the heat map okay stuff boom i'm gonna short   right away i know how to react with this all  right so if i see on the tape and maybe i have   to look at three four or five stocks together  i'm gonna remember and spot all these things   at the same time i must be a computer i cannot  process all those things it's true that a person   i read it processes 11 million partial of  thoughts in a second 11 million partial thoughts   and only 40 are i would say conscious all the  other thoughts so more than 10 million are   unconscious so how the heck i'm gonna look at five  six tapes the same time understanding what to do   if i'm not a computer that's  where the ads over here comes thank you bruce so traders any questions over  here um sorry if i was not watching the the chat   but i was you know more absorbed  here to explain the order flow uh   let me see we have razer good morning razer what  are you looking for yes break of that level how do   you manage your stop on tesla above liquidity all  right so again two good questions that would take   so much but yes for me right now doesn't give me  any signs of bounce on the daily and weekly chart   so i'm so sure bias uh how do you manage  your stop-loss on tesla above liquidity   this is a good question it really depends  from the scenario normally i would tell you   above liquidity but then with all this  market giving so many stuffs right   they will often use that liquidity all right for  fake house because often liquidity where you will   find it you will find liquidity like over here at  precise levels maybe this was a daily resistance   so you put a stop over here and then you  start like you know complaining with yourself   while you stop the top if you were let's say uh  short so i prefer or to stop it break even let's   say i'm short comes back up i started break even  or to give a little bit more wiggle room because   i've seen this over and over and over all right  now experiment uh i would say start it not the   same on your synthetic razor then some days  that fall skews okay to say just saw a buy   order on yes get filled above the offer crazy  first time seeing that on bookmap well you will   see often you will see often are often could  be dark pulls all right so you will see orders   that are into the mids you'll see orders  that uh for example uh when the broker opens   you know like let's say the prices over here  broker opens you will see like fields over here   and you think how can i get a feel over  there i want to show it over here because   then eventually went over here you cannot  you cannot right we cannot me and you cannot   somebody can not us those are back orders  from the system uh other question traders i think it's pretty pretty common over here  pretty good uh in youtube here um we answered the   es question

2022-05-14 01:37

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