The following video is a new feature added to watchhimtrade.com in which I hold a weekly webinar with subscribers in which they can submit any questions they have and I answer them as best as I can. Questions time stamped and attached below. Enjoy!
1. (01:00 mark) I have been waiting until the first 15 minute candle is formed before making trades to get a direction on the day. The only time I would deviate from this is if there was significant momentum where the reward outweighed the risk. How do you feel about that strategy?
2. (03:20 mark) I’m a straight directional, momentum trader which probably isn’t optimal because everyone else is looking at the same charts. What suggestions would you make, if any, to improve this strategy?
3. (05:48 mark) Do you pay attention to the moving averages?
4. (08:10 mark) When entering the day, do you use the previous day’s close as your stop loss/entry? Are you looking or making any judgments based off of pre market activity?
5. (12:10 mark) Do you trade upside for about $5, anytime during the day or do you only take advantage of the huge volume at open?
6. (18:10 mark) Are the 5-7 primaries you show the only options you trade? I know they are liquid, but are there any other’s you take a look at or search for? If so, what do you look for?
7. (26:37 mark) My method for trading SPY, as silly as it may sound, would be to trade 3 contracts with a delta of .90 and if it only moved .25, I was still making money, what do you think of a high delta strategy vs low delta OTM?.
8. (30.18 mark) When would you suggest absolutely not trading?
9. (31.43 mark) How much of the entire chart do you look at and take into consideration for day trading? i.e. looking back a month, year, etc.?
10. (41:00 mark) What is my strategy for trading gaps?
11. (49:46 mark) What advice could you give people like me? I will be retiring from my job in a month or so (I’m only 45) and I’d like to trade to supplement my pension with some discretionary funds I set aside and keep my mind sharp. I’m sure I’ll work somewhere else in the security sector part time or as a contractor later on but I really enjoy trading.
If you would like to participate in my weekly webinars, as well as get all the other advantages that my service has to offer, consider signing up for a 5 day trial, you can do so at the link below: