General discussion of why “only price” pays. As well as introduction to support, resistance and basic trend lines. Good introduction and we will build upon this session going forward.
Price is the only thing that pays.
-Number one job of any trade is risk management.
Long or Short
Multiple Time Frames
Price and volume initially
Use the left to show the right – “theory”
Trends (slower moving)
-Trend breaks (faster moving)
-Simpler is better
-To much noise creates to many signals
-Trading less is always better
Avoid sideways action at all costs
Trade plans, all based around technicals and key levels
-breakouts/breakdowns – other traders come in.
-profit targets and stop losses
Fundamentals have value but only if the stock is moving. Don’t fall for the trap.
Screenshot Charts to do Left Side/Right Side analysis
10/14/2016 12:41 PM CANN potential long post 2PM based on holding $3, ideally push through $3.40 for potential gapper, with stop on $3.00
Q and A
Zero float – Backup source http://finviz.com/