Start Swing Trading | Connie Hill, CMT | 12-10-19 | Technically Speaking: Trading Stocks & Options

Start Swing Trading | Connie Hill, CMT | 12-10-19 | Technically Speaking: Trading Stocks & Options

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Good. Afternoon welcome. To technically. Speaking trading, stocks and options we. We, are going to focus today on short-term. Swing, trading now. Some, people like to get up they like to have a coffee in the morning that helps them get going I'm, going to tell you when you get started in the market if you've got some swing, trades going you might not need your coffee anymore, by, the time we're finished today you're going to understand, how swing trading works we're, going to look for some setups, and some opportunities, and. Follow those through over the next couple of weeks let's. Go through some quick disclosures if you have questions, yes please chat them in. Let's. See, good. Morning or good afternoon Frank, and George from Texas, and Ricardo, welcome. To all of you let's, go ahead with our disclosures. And then we'll get going on some things here. Options. Are not suitable for all investors as. The special risks inherent option. Trading may. Expose investors, to potentially. Wrap it in substantial, losses. Probability. Analysis, results, shown such as the probability, of an option expiring in the money or out of the money is, theoretical, in nature it's not guaranteed and, does not reflect any degree of certainty, of, an event occurring. In. Order to demonstrate the functionality the platform we need to use actual symbols, however TD Ameritrade doesn't make recommendations. Or determine, suitability, any. Security, or strategy, for individual traders any, investment decision you're making your self-directed account, is solely your responsibility. Past. Performance, of any security strategy, does not guarantee future results, or. Success. There's. Just a little blurb. About me, welcome, Alfred and others. To our class as well been, here as, a coach at TD Ameritrade since. 2004. And. That seems like a long time ago now, that it's 2019. But I've, enjoyed sharing information with you as we teach, classes and as we look, at the markets that hopefully, will help you. In your understanding and in your learning and once you get going with learning. In the markets you understand, that there's a lot more to always learn isn't, that yeah, even you know I've been with the markets for quite a while and I'm always still finding new things to learn in and practice. And interpret, and try to use. Now. As I mentioned today we're gonna focus on swing, trading so. We'll. Define swing, trading and set up some of your familiar with it some of you this might be brand new to you we're. Going to identify short-term. Bullish and bearish swing, trade. Setups, actually, we're not going to do anything bearish, today really, going to focus on the bullish side of things and. We're. As, part of this little, agenda. Item here what. You're going to learn I'm going to show you a quick a quick, little scan, that. Can help you identify some candidates. For, possibly, doing a swing trade on we. Won't focus so much on trade management, techniques. Today we, will next week as. Well as we might get into a little bit of position sizing and of, course we're going to be executing. Everything, in the paper money platform, of thinkorswim, let's. Jump over there right now. Hello. Barry. Alright, we have a few friendly, folks out here today, all. Right this is just the S&P in what's going on in the, S&P right, now and actually I didn't want to go there quite yet. Actually. Wanted stock go through some slides here first all. Right a swing, trade, is a. Short-term trade that generally, lasts, about two, to seven days so. When I was talking about you. Know maybe those swing trades can help you wake up in the morning right rather than your cup of joe or your. Diet coke or whatever it is that you like. Just. The excitement of the market sometimes can do that especially if you're working on a trade and you're watching what happens, to it in the, morning over the. Next two to seven days and sometimes it might even be a one day trade that. Is going on but just the general is, you're, not planning to day trade it but at least a couple days, swing.

Traders, Try, to map out their entire, or, their entry, their stop and Tiger target, prices before entering. The trade, alright. You're basically, making note of that you're, planning it out and then you're gonna trade, your plan. Bullish. Swing traders, typically, enter near a support. And exit near resistance, bearish. Trades are the opposite, we're, not gonna really focus on them but you typically enter near resistance, and exit. In the arrow potential, support area. Swing. Traders, generally. Attempt. To trade with the prevailing, market, intermediate. And long term trends if we. Are going through a cycle, where our intermediate. Trend is more bearish it's, gonna be harder to swim upstream, throwing. Out a lot of bullish trades as opposed to maybe identifying. Opportunities. That. Are going the same direction as, the overall market that just just, helps you out it's. Typically, going to work for you that it's, a lower risk scenario. Less. Potential. For having to swim upstream stream. And go against the tide now. A set, up is, what, the stock price. Action looks like before giving. You the potential, entry, signal right yeah, I'm gonna call it the get ready point. You. Look. And see what you want to see in the chart you don't have the trigger to pull yet but, you see that setup they're ready to go. All. Right short term bullish swing, trade, setups, we're going to talk about bull flags here some, of you are familiar with bull Flags some, of you this might be a newer concept. For. But we're going, to go through it and we're going to look for those opportunities and. The, more that you look for these opportunities in, these setups it's. Going to come to you a lot more quickly after, you've studied lots of stock charts and lots of patterns, alright. The stock has made a short-term, higher, high, in its Trent kind. Of like right there that number one is peaked up there there's. A two to. Five day pullback, and that's. One, two three four though. There's the pullback sometimes. You only get two days sometimes maybe it goes to six or seven days don't. Stress out over that but, to kind of a short-term pullback and then, many. Times that pullback, will bring the stock to a support, area like. It did right here and, when. The stock is out support, area you're, looking for it to make a move you're looking for it to bounce up and so we. See that. The. Movement at the moving average could act as support an actual horizontal, level could act as support if you're, using Fibonacci, retracements. Maybe one of those levels, could act as support right. Maybe it goes up to a hundred percent and that pulls back maybe to the 50 percent level on the Fibonacci that, could act as support. Or. Any, previous, identified. Support, levels that, you've had that you've identified in, your chart. You're. Looking for a higher low all, right here. Was the previous low right.

There Is the higher role okay, so basically, we're, looking for that extension of an uptrend for this, particular, bull. Flag set up all. Right what about entry, signals. We. Want to anticipate the, bounce. We'll. Look for a bullish, candle near. A potential. Support level all, right that's what we've got right here let me have a bullish candle and. It's sitting right at support. Then. We might look for trading. The bounce as it happens, now, you, might wait till the stock closes. Above the high of the loading you guys have heard, that probably as a cold, sea. A hol. D is the abbreviation, for it and, determine. What time of day to activate. The order what. That means is when you see the setup and you know what you are looking for you're looking for a close, above the high of the low day like, on this particular candle. We're. Seeing if it closes higher than if not we're going to the next day and then. You're going to determine well I take, that during the day before the markets closed or am. I going to wait until close, to the close when you're pretty sure that's what the candle looks like before it prints. When. During the day do you want to do it some people will do a move above. The high of the loading right, and that's, what that's indicating, there. All. Right so then we have our little stock it. Makes its move and on. That day it's closing prices higher than the high of the low day now. We could, also have a confirming. The, bounce out, tree, the. Stock trading. Closing. Price is, above. The high of the low date near the end of the day and that's what I'm saying you're kind of maybe. You don't want to take action on it during the day you want to feel more confident, that the signal is actually there and so, you wait for the actual close, above, the high of the low date that. Might occur in at. The end of the market and maybe you, do stuff during the day and you come back a home at night and then you see it alright, and then, you would actually have that confirmation, oh good you, know the candle really printed, better the price went there and, therefore. Then you'll take your signal from there somebody. That's maybe watching the market can, see what the candle looks like at the close are none of the clothes they. Might choose to take action, a little bit early all. Right now, as you have questions as we're going along here feel, free to chat those in all right. Price. Targets. And. Initial. Stop-loss orders well we're, going to look at a couple of targets here the first target, here is at. The previous, peak that's what we call our swing target. That's. The previous, intraday. High in the trend, it's. The higher high, from, this set up all right that's our higher high candle. We. Also may have a flag target, and that flag target, is going to go a little bit higher the. Arrow that just went on there is measuring, the flagpole. Think, of the flag the flagpole, is something that goes out fairly vertically, maybe, it does, you know tilt a little bit to the side I should put my arm this way and, then. You see a flag, coming, off of it usually, it's a quick vertical, move it, doesn't really have any sideways, consolidation in.

There Sometimes. I'll let's let it get away with say one or so maybe. Two at the most of its old bigger flagpole, but, you're basically looking for that vertical, action straight up then. We have our little retracement. Here and then. Here's our entry date that we already identified and, then. The flag target, which will be target, number two. Is. Essentially. The height of that flagpole. If this flagpole here, is. Say, five dollars, all. Right, then, our target, here, once it breaks out of there is going. To be five, dollars that's, how we would identify and, calculate, what that target, could be, now. How about our exit. All. Right, the exit. Let's. Get rid of that we. Should set, an initial and, initial, exit below the low of, the. Load a and not pull back all. Right so I'm pointing at right here is that, load a we're. Looking to maybe go a little, teeny bit below that a little. Teeny bit could be a penny, it, could be ten, cents it could be twenty five cents, it could be a dollar depending, on what it is you're working with okay. You, can have it be whatever you'd like it to be and it may be different, based, on the prices of the stock if you're, training you. Know a stock that's three hundred dollars going, to penny below this. You. Might feel a little uncomfortable with, like wow that's really tight for a three hundred dollar stock if it's. A twenty dollar stock, or a fifteen dollar stock you might think yeah maybe a penny is all the risk you want to take on it and that's, when you'd want to get out, all. Right. Let's. Let's. Go look at a couple of things and then we'll come back to the consideration, for swing trades let's, jump over here to thinkorswim. All. Right we are starting out here on the sp500. First. I would think i want to do is show you a scan, so we have some candidates, to, look for this. Class we don't have just. A. Watch. List of stocks that we're looking at you, may develop a watch list of stocks I have a watch list of stocks that I call my favorites, because they're ones that I trade frequently.

All, Right but, for what we're gonna do here, there's going to be a specific scam, I'm going to show you. Hopefully. You're getting comfortable. With the scan. You. May may not but hopefully you're getting better at it all right by, default this is what it looks like when you commit here all, right. We have. Actually. Let me give you some introduction, to this page here up on, our big screen I. Can. Get that. There. We go all. Right we're gonna go to our big screen here now. Up. At the top. We. Have stock, stock stock and that, basically means those, three items are coming from our stock filter, all. Right that sounds fine. Where, can you identify the stock filter, well. Over here, this. Field is new they've changed where, it comes in all. Right so, now it comes in and it says Plus filter, and when, we click on that and add that filter, or look in the filter we can see there's a few items we have stock we have option. Fundamentals. Studies, or patterns. All, right and that's how you put those filters in to help you with the scan so. Let's. Try this. Let's. Change this, from. Net. Change to. The last price, of the stock. See. If this'll. Know. It's gonna go a little different. Than I thought let's see okay the last price of the stock we've got up there and, then. We, could look for volume, but this volume, looks for today's, volume, if this, is something that you want our own first thing in the morning and there isn't, a great number of shares. Traded, yeah say you want to run it foo 931. After the market opens all right yeah. Some of these stocks might not have a great deal of volume, yet so we're gonna use a different volume all, right that. Different. Volume, we're. Gonna pick up from the study, you. Can see it out of a study right here at the bottom, I'm. Gonna go down I'm going to select on volume. She's average volume. Now. The depo it didn't keep it did it, volume. Average. Volume. Well. Maybe it doesn't like Meany. There. It. Took it I don't know what the magic was but it took it the. Default period is it here is. 50/50. Is fine if you want to leave, it at 50 I'm gonna change ours to 30. 30. Is about a. Quarters. Worth right. About, 6 weeks worth of trading that. Doesn't, really mean it's a quarters, worth let's, see yeah, it is it's about a quarters worth of trading we're. Gonna do it based on a, simple. Moving average which basically means just the average it's not weighted, heavily. At, the front or the back and. This. One says the volume, is greater than 1. Million, if. You're an options trader you, might like 1 million if you're a stock trader you. Might say the volume doesn't have to be that high for me okay. We're gonna kind of go in the middle here today we're. Gonna change this to let's. See. Here. That. Will take me a long time to count down, I. Better do this one back on the keyboard, here let's. Come back here we'll. Finish this up here. We. Want to have this set to the, average volume is. Greater. Than. 500000. So. There's our 500, zero zero zero no. Comments, no periods. Just. The actual numbers if. You're wondering, well what is that over, what period of time it's actually, each. Of the bars is represented. Or each of the volume bars is represented, by a d for daily all right so average. Daily volume of about 500,000. So that if you run it first thing in the morning and, you're. Looking for some things here the. Stock doesn't have to have traded 500 thousand, hours at the, time you're running the screen and that makes a big difference so. We're going to use this volume, here and I'm going to delete. This. One. All. Right. Now.

We've. Got our last price, I want. A minimum of ten in there all, right as far as the price goes we're. Going to look for a percent, change today, and I've got a separate, scan that. I run in the morning that I share out on my Twitter feed, and most, of the time first thing in the morning it's called, the early morning movers and. What I'm looking for are stocks that have moved a certain percent. First. Thing in the morning, right though the ones that are getting the juice they're getting their coffee early, all right and so. They're, making things move so I'm, going to look here, we're gonna put the plus sign here we're looking for a two percent. Move. At, any. Point, as far, as the day goes so we're looking for a little, bit of a run-up we're not looking for something that's stagnant, hopefully, we're trying to find something that's bouncing, off of a support, area we. Can't really build in support, but hopefully. It would lead us to some of those stocks now some of you might want to put a cap on this some. Of you might say well, if it's up 15% I don't care if it's up 20% I'm not gonna go chasing it so you might not want to have that max in here for. Our purposes, I'm gonna leave it empty but just know that you might be interested in it all. Right and, then we have our ad bridge. We're missing one thing here that I think helps, make this be a more impactful, scam the. Thing we're missing is, the trend of the stock, when. We're bullish in the market we're want to follow the overall direction of the market we took a quick look at the SPX but we didn't really discuss it that much but. We could see that it was in an uptrend and getting pretty. Close up, to those highs again so we can see that it is in an uptrend. Let's. Put, a filter in here for that the stocks, themselves, have. To be upward trending. So. We're going to come back over here to add a filter, we're. Going to grab a study, and there's. Not a study in here that says Tran, okay. So. What we have to do is we're gonna go grab price, and we're gonna look at price change, if we. Think about it a trend. Is the price changing. Either higher, or lower. So we're, gonna set this up to be higher. All. Right so I'm gonna be a little bit aggressive with these numbers, here, and. We're, gonna say here though I want, it to be or we want it to be up at least 15%, in. The last quarter, and. So. Instead of 10 bars, we're. Gonna put 65, bars and that is about a quarters, worth. All. Right you. Might like this screen or, scan you might not if you do like it go ahead and come up here and save it give it a decent name not. Your dog's name now my name don't call it Connie scan you won't remember what that's about if you were to put something like uptrending. Swing trades, sure. That works you might remember, what that is now, I'm gonna come down here we're gonna grab 200, I don't think we're gonna get 200, I'm. Gonna go ahead and hit scan, and. It. Gives us 50. Gives. Us 50 stocks, this. Is sorting notes this. Says sort of by symbol. Which. Actually. Doesn't. Matter because we're just gonna save it to a watch list and then we're going to explore, it a little bit more all, right some. Of these are up fairly decent size today well more than 2%, we've got an 8%, 4%. 5%. Down, here, okay, so we're catching, these stocks but, they also should have an uptrend, and that's one of the keys to this particular scan, as well, as finding, some movie but. Some moving stocks. Right with, a swing trade you're looking, to trade just out that, motion, of, the bounce off support, and the running up you're, not planning, to follow it forevermore right, you're just trying to follow that swing of momentum, and, basically. Take a little right on its tail. I'm. Going to come up here to.

This. Icon here, we're going to say save as, watchlist, you, guys help me to remember this name because sometimes, I forget the name watch list but I'm going to call it, I'm. Going to call it swing. First. Wing trade, 1210. All right December, 10th that's when we created, this we're. Gonna go ahead and hit save now. We're. Gonna pull this watch list up over here on the left hand side, and. So. Let's, go find. It I clicked on the wrong square, we're gonna go a little personal. And you. Can see I really need to clean up my personal. Scams. Here because I have so many and we. Call this. Sweep, I was. The very last one here on the esses swing. 1210. Alright, these, are the stocks that came up in that scam now. Because, it's catching my eye here and I haven't mentioned it yet. Well. I did mention it a little bit I mentioned, that I post. A similar, scam typically. First thing in the in the morning and pick. Out some of the stocks that are making some decent moves, that have some decent volume in it it's not exactly. This gambit, is similar. Okay. And I'll post that if you want to follow me on twitter my handle is, at chill. Underscore. TDA as, coaches. We're trying to post information that we think it will be helpful to you maybe, it's something that we found insightful. It might be an article it might be some. Technical analysis. I do a lot of that. Alright. So would love to have you as a follower, and. Actually. All the coaches would love you as a follower but since you're in here today I would love you as a follower. Chuck. Says can you limit to. The. Ones with just options, Chuck you could if we, I didn't do it but this is what you could do you could say intersect, with and. Then. Come down to public. And. Then. Come, down to, I. Think. I passed it. Some people will use this one penny increment, options, but. That could lead out leave, out some, optional, stocks, so. The other thing we can do is intersect. With. Well. That's where I was. Let's. Come down here. And. I. Think there's one we can choose here. All. Optional. There. We go you, could change this category, in, so. Rather than all stocks which, I had change. It to all optional. All. Right that. Was a good reminder for me to remember, how to do that, all. Right next step we're going to go to our charts. I'm. Going to make sure that our chart, with. This red one is linked, to our watchlist, can't, see it right now. But. I'm gonna sort this on. I'm. Gonna sort it on the percent, change. Some. People might do this this one's up 16%, today, or some, people might choose. To, shoot it by not, shoot it sort. It by volume you, could select on the volume and you'd, say see which ones have the greater traitor, volume, yeah. If I gave this a little bit more room maybe it wouldn't put it well I guess it still does put it at, one point six, seven. Six. Million. All. Right now. Let's, just kind of look at a couple of these stocks. I'm. Gonna start out here at the top may, you pH this, definitely, was one that came up in my early, warning, scans. Alright. Because of that huge gap a couple of days ago and then today it ran up and gapped up some more about I mean I was saying it's about eleven percent it, was up higher at. 18-49 so is pulled back a little bit so it's up significantly. Now, there may be traders, who say mmm I feel like I'm kind of trading, it at this point maybe, they'd like it to pull back maybe. They'd like to see it bounce off support, here, right. The bottom of a gap. Many times will act as the support area it's not guaranteed but many times it will. Let's. Take a look at this next stock, Clovis. Oncology. Now. You can, see it had been downward, trending, for a while, formed. A base pattern the. Price of the stock got pretty low down. Dinner to about a little bit less than three dollars but. Recently. Man. It's been shooting, up now, on my studies, here I was thinking we were looking at volume but were not, so. Let's go fix that and grab volume, instead of a histogram, so. Of, the MACD histogram I, should say. So. With a volume a. VG. Is what we're looking for let's, add that. And. I. Will adjust this as well 2:30 periods, rather than 50 I, clicked. On that gear to get that up to change it. And. We'll say ok now we have the volume this is why it was kind of important, on this one because, we can see with is earnings, period, a. Lot. Of volume activity moved, in it looks like that was November 8th that happened, and ever. Since then the volume, has exploded. Here hasn't it instead, of being this dinky little two dollar stock. Less. Than a month later maybe about a month later it was up here at a 17, dollar stock, now. We're seeing something, somewhat, similar. I'm. Gonna zoom in here so we're seeing the whole thing we're. Seeing this pretty, large run up with growth stocks many, times, we'll see that it'll, be up sharply. And then. What does it do it also pulls back sharply. Until it finds some support, now, it didn't come down to the 30 period moving average that's, my red line it.

Looks Like it used in the neighborhood of about 875. 880, as the, support, level so. Here, we have our run-up so where's our flagpole, where. Should it start I told. You I I'm. Kind of a purist with this I like it to be almost that straight vertical move up I do, recognize. That kind, of this whole move has been a big move up but. I'm gonna start it with this bullish candle, here. Because we did have a little, tiny pullback, here at that red candle, so. Let's grab the trendline I'm gonna go to the bottom of it and I'm. Gonna just draw upwards, and. Keep. It pay attention to that box there I'm, gonna take it up to our high price, there, of about. Seventeen. Thirty seven from. That point on, the flagpole holy, cow, it's, up ten dollars and 38 cents which represents, about a hundred, and fifty percent. Okay. Something. In that neighborhood. So. A couple things when we're looking to play this first. Our initial, swing, target is going to be up here at that. 17:37. Price, point you could come pull, back from that a little bit if you want to do since, it's an especially big, aggressive. Target. The. Second, target is going to be the height of this. Flag very, long little tall flagpole, now. As far, as the the pullback here I do want to mention this it. Did have our our two, to five-day pullback here it looks like it's in the neighborhood of about. Four. And, a half five days. When. You're looking at this flag, and. That's actually getting a little bit close we. Do not want to see the flag, retrace. Down the flagpole. More. Than two-thirds. To three-quarters of, the way down and, so. I was just kind of watching it my my, bottoms. Of the flagpole started, here so I think we're safe. But just barely safe alright we, wouldn't want it to reach phrase much further, now. Do. We see a breakout here yes we're seeing a breakout of the flag today. Do. We see a cold, do. We see a close above the high of the load a well, what's the high on this day the high is 1216, right. Now the current price is 12 49, so. If the marker we're closing in one minute we. Could say yep we, have a a cold, entry. You. And I are going to be sitting around in an, hour and a half looking at the market when it closes so we have to take action now. So, I'm going to come over here I'm. Going, to duplicate. The drawing which is duplicating, this flagpole and I'm, gonna come over here and I'm, gonna put it right where, it. Broke out all. Right right where this little candle, broke out and then. We're. Gonna look for two different targets, remember the first one is up here at the top if you want to do 1737. You could, where. My mouse is right now it's 17. So. Some people might go, a little bit shy of that if, I put my mouse on this line here, let's, try this again, it looks like it's target. Is at 20 dollars and nine cents. Which. Is incredible. When. Just. Last month in November this, was a three. Dollar stock, isn't, it but, sometimes that's how it works now it looks like we may actually have some questions here let me look Oh.

Alfred. Says I have an existing, scan how do you start a new scan all, you do Alfred, I'm going to go back to our scan is. Just go up here to the top and, hit. Click, on that icon that's, under the on demand button and then, hit reset. Alright. When it went after you hit reset, it'll. Bring those up those. Three initial, ones that we had that we used I. Heal. Our Wow LOI I think, it is let's, ask what happens, when you change it to 30 days instead of 50 all, that happens when I changed. This this. Average, volume, up here from 30 to 50 is I'm, condensing, the time period, that it's looking for so. That if there is something in the last six, weeks that started. To, increase. In volume and activity. We, would catch them versus maybe, if it's over 50 days we're gonna have a lot of volume in here that's averaging. In at really low volume and, maybe missing, out on some of these stocks that are recently. Making, some big moves and having, some extra volume being pumped into on ok. So I would say. Is the main factor that. We. Eliminate. By. Shrinking. Down that time frame to fifth from 50 days to 30, days, good. Questions you guys keep, them coming I'm happy to answer them all, right. We. Were on the chart here sorry, I went over to the trade tab what we were still on the chart where. Would we put our initial, stop-loss here. Okay. We. Want to put it a little, bit lower than the low let's see which of these candles, goes the lowest I think it's gonna be this red one this. Low is 8 72. This. One is 8 80 so, 8 72, is our low we. Could go one percent below it we could go 10 cents below it given. That this is actually, moved quite, a bit and is. Looking, right now that it will have a co hold and close over the high of the load a and this, being a very tall candle, we might not want to go way below it okay, so, if that low is, 872. What. If we go down maybe 5, cents under it and make. That. 867. It's. Gonna make a note here for when we make our trade. Our. First target, here, we've. Got 17. 37 and, then. We also have. $20. And some odd cents here I think it wasn't very many cents 20 dollars and 9 cents. All. Right let's set this up, we're. Going to make the assumption here that the, market is going to close any second, now and therefore.

We'd Have our cold. Now. One. Last thing we really should plan out where I'm going to spend a lot of time on it today but. I want to talk about initial. Position. Sizing to go with that stop-loss. We're. Not going to go into position sizing really, deeply, here but let's suppose you. Would allow yourself, to invest. Two. Thousand dollars on any. Particular stock, all, right if we, bought a hundred shares of this that would be $1700. So we'd probably be able to get a little bit more than, 100 shares so. Let's go up here we're gonna say. $2,000. /. 1238, right, now we, could buy a hundred, and sixty-one shares, alright. Again we'll spend more time on that a couple of weeks ago, barb, Armstrong, covered my class for me the week during Thanksgiving, and she spent the whole time on, risk. Management how. Much you can afford to risk let's. Go to your trade here now. I do want to point out to you option, traders that, there is a significant. Amount of open interest, here there is on the call side there. Is on the put side however. This. Spreads, are really, wide, right. To 30 by 330 that's a whole dollar. 135. By 175. That's. A big spread, it's, such an amount of spread that might, be really difficult to overcome, and so. You might want to just stick with, the stock at this point so, let's go ahead we're gonna say right mouse-click we're. Going to say buy custom. And. We're, gonna say with a Osio, bracket. All. Right this is where it gets fun, with. The Osio bracket, let's. Change our quantity. Here we're gonna do a hundred, and sixty-one according, to our calculations. Here so I'm going to set, this up here and, with, a no Co it means one cancels, other that means if you hit your target great, you hit your target and you're out, if. You teach your stop-loss, then. It sells everything in your out now, one thing we could, consider, doing here, is we. Could consider, setting, up just the first target, and not, getting out of all the shares so. For, I'm, gonna say for fun but for practice, really we're gonna change the quantity, here let me unhook this, and, let's. Just make this 80 shares that if it hits the target you're, gonna sell half then you'd go in and put in another order, for. The higher target, that's up there about $20. And. But, we do want to get stopped out of everything if this thing starts to pull back so we're, going to leave, this. At 161. Current. Price is about 1241, bit, a spread, isn't too bad. Our initial, targets, here we said was going to be seventh in. Neighborhood of 17 and change you don't have to pick the tippy-top point, if you don't want to if you want it to be like. $17.10. And just come off of that a little bit or maybe even 20, cents, let's, do 20 cents for our example. All. Right that'll be our target for the first we're. Gonna make both of these Goods. He'll cancelled, orders. Alright. Notice. Over here in the advanced order it says first triggers ocl, and. Remember. The game plan is to come back if it, is this target it sells out your 80 shares you're, going to have 81 left so. Go in and put in a new target for it alright, and. What. You'd probably have to do is cancel, this stop-loss, so. That the quantities, are equal. All. Right confirm in sound review, make sure it represents, what you want see if there's any Commission's, want. To be aware of. With. Supporters, there's no execution, price that will be equal, or near the activation, price it's just, our expectation. When. It gets there that it's going to trigger a market order and it'll, line you up with the other market orders I'm. Gonna go ahead and hit Send. Alright. Looks like it filled us at 12:37. On clvs. And, i forgot to put that in our class account, so when we're finished I'll go put it in our class account if you, wanted to if you went. Ahead and, did, this scan. Or something similar to this scan what. I'd want you to do is to kind of come through them and look. To. See what. Kind of a setup it might have, some. Of them might have entry, signals like we just looked at with clvs, some. Of them might be just getting set up now this one stitch. Fix looks like they had earnings they. Gapped up, quite. A ways maybe, this, area that had been resistance.

In The past might, act to support maybe. It'll pull back to that maybe it won't maybe eat the bottom of the gap will act a support okay, so some of you might feel like it's, not time to pull the trigger on it yet, let's. Keep watching it. Tesla. What. Does Tesla doing Tesla. Looks like maybe, it's. Bouncing, off support today maybe in this pullback finally. Today, you. Might get, it's. Looking really close to it. Actually. The Lotte was here the high was. 334. It. Closed at 335. Actually, it, did get its cold, just barely on this little green candle, day and, it's had some follow, through with that alright, but, if you are using a bounce off support, off, the moving average, perhaps, Tesla, qualifies. For that, as. You're looking at it now, in the interest of time we don't have time to go through all these stocks, but. I would encourage you on your own to. Take that challenge, to go through this list or a 1 similar, and just look, at each one and say do I have an entry okay. I don't have an entry do I am i close to a setup, okay. Maybe so maybe not, what. Do I need to see so, I have a set up what, do I need to see so I have, an entry and just, plot that through with every single one of your graphs, now. In terms of following up on some other classes. That could reinforce what we've been talking about today. Jon. McNichol. Did, a webcast. This morning, at 9:30. Eastern. You could go back and review and as soon as it gets posted and it's, topic, is swing trading that's all he talks about in that class Tuesday mornings, right. When the market opens and then. Tomorrow. On Wednesday. James. Boyd is going to teach a class that he does very frequently, called. Directional. Options, strategies. That's. Kind of what we've been looking at here, with a couple we didn't we have to do a stock trade here but we could if we had one that was very optional, we could use it for that as well all. Right. Let's. Go back to our slides. One. Of the things I wanted to mention here on the considerations. For swing trading timing. Of entries and exits can. Be challenging. They, require patience. And lots and lots of practice are, so that you get good, to it you're good at it all right and you, may have a bunch of losers for every winter that you have and that's why it's important that you keep your your. Stop losses and, your luck and you're gonna. Say your losses low. All. Right because they are gonna chop into some of your gains probably, for many of you all. Right so today we learn to define. Swing trading and setup. We. Identify short term bullish trade. Setups. We. Have an example here where we looked at entry signals price targets, initial. Exit order on that. Clovis. And. Of, course we use our thinkorswim paper, money to do so we've. Talked about what you can do to reinforce that classes, you can don't go to stocks. You can look at if you don't run this scan just use the stocks in your watchlist but the site does it have an entry does it have a set up or, what do I need to see so it gets one of those all, right yeah. In closing, I do need to remind you that in order to demonstrate functionality. Of the platform, we need to use actual symbols but TD Ameritrade does, not. Make. Any, recommendations. As far as security or strategies, for individual traders an investment. Decision you're making yourself directed account is solely responsibility. Next, week we're gonna do a little bit more follow-up here with these. Swing trades coming. Up next we've got Cameron. May he's, going to be tapping his trader talk Q&A. So head on over there in 15 minutes and you, can pose any questions you have to him that maybe we haven't hit on or. That you still have thanks everyone have a good afternoon bye-bye. You.

2019-12-14 20:02

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