0000: Market Review. MP, UBER, FOUR, IBB, AR, EW,FLNC, MNST, MOMO,
As a reminder. When you enter a position ON THE FIRST DAY ONLY, take off 1/3 of the position if price hits R2/S2. Otherwise, stops are set with "the definition of trend". Moving stops along the way.
No hurry to be an investor in this market.
22:23: AVWAP alarms? Can set these up in TC2000 with the EZ scan. Brian sets alerts based on
pricing on the VWAP.
24:10: Stocks following a pattern in the AM. They drop below the AVWAP in the first few minutes of
the open and then a short time later reclaim the VWAP. Is this typical or just because of this
crazy market environment? Brian has not noticed this pattern, but if it is helpful to your style of
trading, then great.
25:28: CELH on 12/8/2022. If a stock hits R2, then that move has already taken most of the energy
out of the move for the DAYTRADE.
27:02: The two legged pullback as a reference point in price action. Brian is not familiar with this term.
However, if you have found value in this "pullback" and have found value in combination with the
AVWAP, then great.
28:28: Not clear on this question.
29:22: Clarification of entry point question above. On the 15Min chart, you want the 5dMA to be FLAT
to RISING or ANTICIPATE RISING based on today's price action. Where does the stock have
the potential to go based on the way it's moving.
When entries are given in the video, use this price and price action to decide if you want to enter
the trade. Don't wait for candles after breaking that level.
CLDX on 12/12/22 @ 10:15AM. entry.
33:12: Using AVWAPS and handoffs for daytrading. ( Brian does not encourage daytrading) This is
not a day trading service.
34:00: Stock TOLL. Look at the stock for what it is. Not based on the sector. This stock is like a
commodity. So Brian does not trade them.
37:22: Expand on the mechanics of a crowded trade. What is it in the crowded stock that creates the
failure? eg. CELH. MOMO
39:09: Scripts has a link to buy the AVWAP script for Think or Swim.
39:39: Source for the MA's? Use the close on a simple MA. In the VWAP, use all data.
40:27: Opinion on using indexes in a Bear market? Yes. Using ETF's in this market is a good option.
41:17: Never set a stop before the market opens. After the market closes, use the most relevant
higher low as a stop (down market) on the timeframe you use for the next day. Obviously this is
not on the first day where we use R2/S2.
42:32: Another day trading question.
43:43: End of year Santa rally.