Bohen’s Take: Wild Vegas Nights, Super Simple Trade Setups, and Part-Time Trading for Full-Time Income

What happens in Vegas stays in Vegas … or so they say, right? I don’t know if that’s true, but I recently was there and have a few tales to tell. More on that in a bit.

I’ll also share how you can use ultra-simple trade setups to alert you to some of the best trading opportunities — the kinds of setups we look for every day in StocksToTrade Pro…

Plus, I’ll clear it up once and for all: Am I an extrovert or an introvert?

All that and more … Let’s dive right in!

What’s the Haps?

Well, gang, winter’s right around the corner. The snow is well and truly here in rural Michigan…

I’ve been outside shoveling and plowing. It’s not my favorite activity, but, it could be worse…

Apart from that, I attended yet another expo. This time it was the TradersEXPO in Las Vegas.

I know they say Vegas is a crazy city, and “whatever happens in Vegas stays in Vegas” … but to be honest, I was in bed early most nights reading a book…

My day times were more fun, and the expo was a blast. I had the honor of presenting three times and even did the keynote speech alongside my buddy Tim Sykes.

Of course, since Sykes was involved, we had to entertain the audience. This time we saw Sykes roll into the talk late, on a mobility scooter … When Sykes finally got on stage, we did a little homage to the famous Zach Galifinakis’ “Between Two Ferns” interview series. Only we were between two money trees instead of ferns…

I always love doing these seminars, and my other presentations went off with a bang as well…

The main topic was something for which I’m pretty well known: part-time trading for a full-time income. The crowd seemed to really enjoy it.

Interested in part-time trading for full-time income but you missed the expo? Don’t worry! I’ve got you covered … I recently hosted a webinar on that very topic for StocksToTrade followers. Click here to check out the replay while it’s still available…

The Setup of the Week

You know what I see almost every newbie trader do? They overcomplicate their trade setups.

Your setups don’t have to be super complex. Some of the most successful traders use super simple setups. That’s why I commonly tell people KISS: Keep it simple, stupid…

The recent setup we saw in CLVS is one of those super simple, awesome setups. If you look at the long-term chart for CLVS, the stock’s in a classic downtrend.

On November 7, the stock gapped up on an earnings announcement. It opened at $4.30 from a previous close of $3.59.

We call this a first green day play. It’s where we see a powerful green day in an extended downtrend. And it shows that the bulls are at least temporarily in control and the stock could spike. So, it was on our radar from that point … The next day, the stock opened at $4.40, and it was off to the races…

CLVS ran up to $6.24 on the day, before closing the session at $5.89. There was plenty of meat on the bone in that single trading session, plenty of opportunities to catch a quick 80 cents, 90 cents, a dollar, or more per share.

And the stock kept on giving a few sessions after that with a pullback and a run-up to the $7 level- the kind of trade setups we look for.

All that opportunity from a very simple trade setup…

First green day in a downtrend, earnings winner, followed by a big move up … It’s the trade setup that all smart day traders should be looking for.

Want to be a part of a community that hunts for these simple yet powerful setups each and every trading day? StocksToTrade Pro could be the perfect fit for you. StocksToTrade Pro is the trading community that I run to help traders become the best traders they can be.

As a part of the community, you’ll see my screens as I share what I’m seeing and thinking each trading day. You can also participate in the trader chat room and have the chance to attend regular training webinars to learn cutting-edge tactics.

Personally, I think it’s the best stock trader education resource on the internet — join us today and start finding key trade setups!

Question of the Week

Somebody recently asked me this question, and I think you might find it interesting:

“In the watchlist, you talk about red-to-green moves … I’m confused … What does that mean?”

The answer is, once again, very simple. When I talk about a red-to-green move, that means the stock is up in price on the day. When I talk about a green-to-red move, the stock price is down on the day…

So, you might see that a stock like Amazon is up 2% on the day. That means that the current price is 2% higher than the previous day’s close…

So, how do I view this sort of action as a day trader?

It simply tells me whether the bulls or bears are in control of the stock at that time. Take a simple measure like that, throw in a news catalyst or chart setup, and we can probably make some decent trades…

What Have I Been Reading?

I’m currently reading yet another book that isn’t officially about trading. But it actually has a lot of lessons to do with trading…

That book is “Lead Yourself First: Inspiring Leadership Through Solitude” by Raymond M. Kethledge and Michael S. Erwin.

I’m loving this book. The authors talk a lot about the benefits of using solitude to grapple with important thinking and get a handle on your own mindset. It’s a key part of learning to trade smarter.

I know that I seem like quite the extrovert. When you see me talking trading, running webinars, or presenting at a seminar, I probably seem chatty and outgoing. But in reality, I’m a pretty solid introvert.

Like I said before, while in Vegas I wasn’t out hitting the club or the gambling tables at night … I was chilling out, reading, and getting to bed early. I enjoy solitude and quiet thinking time.

So, add this book to your reading list if you’re looking to improve your mindset. I highly recommend it. Even Jim Collins recommends it, and hey, I love Jim Collins. So check out the book!

Bohen’s Conclusion

That wraps it up for this edition…

With the weather getting colder, make sure you don’t get lazy. Be sure to keep up a regular fitness regime. Don’t just lay around in front of the heater … Be active. Get outside. 

A fit mind and body are some of the greatest assets you can have for trading longevity. I’ve even thought about running some sort of pushup or squat competition in the StocksToTrade Pro chat room…

I’m not sure exactly how I’d do it, but I think it’s a great idea to have the community bond over something as fundamental as fitness…

Sometimes the winter months can feel lonely. Join a trading community! 

And if you want more than just mentorship … If you like reminders to stay fit, trade smart, and focus on a healthier mindset … If you really want to improve as a trader with a group of like-minded peers and learn to identify key trade setups, join StocksToTrade Pro today!

I’ve been going to a lot of trading expos lately, and I love them! What do you think about trading seminars? Tell me in the comments below!