Swing Trading Days to Weeks | John McNichol | 2-16-21 | Bull and Bear Swing Trade
good morning everyone john mcnichol and welcome to another fantastic week of education with td ameritrade everyone enjoyed their long weekend our topic today is swing trading days to weeks where we'll take a look at both bull and bearish setup so stick around all right well it's great to see everyone that's live with us today such as charles david sebastian monica lewis mike harold yoko white belt brittany cindy paulie ricardo and everyone else hey we have mr cameron may helping us out on the chat today uh so if there's any questions uh that uh i am unable to get to uh he'll be happy to help us out there today hello to john in thailand i'm sure it's probably a little bit warmer there hey uh shout out and uh prayers to uh all our associates and friends uh that are uh out there in texas and uh other very cold areas of the country dealing with lack of heat hopefully everything gets fixed pretty quickly looking forward to that let's take our disclosures folks and we'll get right into our discussion a little too quick there on the draw let's try it one more time options not suitable for all investors spread straddles other multileg options strategies often involve greater more complex risk than single leg option trades now in order to demonstrate the functionality of the platform we will be using actual symbols keeping in mind t ameritrade does not make recommend recommendations or determine suitability of any security or strategy for individual traders any investment decision you make in your self-directed account is solely your responsibility now you're encouraged to practice what you learn here today with tools such as the paper money application which is for educational purposes only and successful virtual trading during one time period does not guarantee successful investing of actual funds during a later time period as market conditions change continuously as always all investing involves risk including the risk of loss keep in mind a stop loss order will not guarantee an execution at or near the activation price once activated they compete with other income and market orders all right and let's go ahead and bring up our agenda we'll take a look at the market open uh we'll discuss both bull and bear swing setups those of you that joined us last week we went over some examples of some uh bull flags uh we'll probably see possibly some of those today and we'll also look at the inverse of that the bear flag or bear swing we'll attempt to practice trade as we do each and every week and without further ado let's bring up the thinkorswim platform and we'll see how things are starting off the day uh with the market open uh s p 500 is uh opening up uh and trading at a new high hidden 39.72 i believe we're going to be seeing this across the board on some of the major market indices bring up the dow dow as well bring up the nasdaq nasdaq new highs and bring up the russell russell just a little shy uh but looks like uh pointing towards that area at least setting up uh for another high close just a little relative lag uh on the small caps and if we look at volatility uh volatility i believe a dipped to a a low uh on uh friday and we're seeing volatility uh elevated a little bit uh here today now go ahead and look at uh some of the sectors uh over on the right let's see if we can get out of here just lost a little bit of my mouse control here folks bear with me for a sec it looks like i may have lost my drawing tools to highlight all right just another day in the market here with me for just a moment interesting okay i'll have to use my cursor uh looks like energy stocks are leading this morning along with financials and industrials now if one looked at the pre-market this morning i showed you how to do that by going to the market watch tab a list of s p 500 stocks you can add that quote column for mark percent change which will show you the percent changes uh if any in that pre-market and uh when i kind of sorted through the s p 500 you can see a lot of recognizable stocks uh in the energy materials even got a airline in there with american even some retailers such as the gap carnival so kind of broad advance from multiple stocks there on the s p you go ahead and sort and look at some of the losers not sure i'd never even heard of fti but looks like they're taking a big hit this morning uh some utilities on the home builder side so a little little mix there on the lower end but it looks like uh many stocks are you know going through the s p uh maybe a little bit uh on the mix side as far as justin positive again looking at some of the winners we plug a couple of these in and see if any of these are showing uh any swing setups there for instance fcx that again looks like fcx kind of gapping uh above uh more of a flag previous sharp move up price pulling back and we see a little of a gap looks like a few of the other ones here on the energy side do these uh potentially pushing out of some flags look at oxy here obviously pushing out of a flag but on a gap some traders may not look to be chasing on those gaps or look for those gaps to pull back looking for that bounce that says compared to i think a glance at exxon mobil prior to the market open and yeah it looks like exxon mobil's gapping through that as well i was hoping to look for a little more of an entry day push as price is just trading above the high the low day to kind of improvise with some of our drawing tools here but here's an example of a sharp move up overall trend rising so we have a previous successful swing and existing trend and price is pulling back in this case over a couple of days and pushing out of that flag now some traders you know may still potentially look to trade that ever may look for see if the price kind of fades into the gap whether looking for another bounce if one was to enter uh then keep in mind uh the risk where we typically have been setting examples of stops about a a percentage below the low day the risk per share is going to be greater if we look at potential targets looking at the distance between the low to the high for those of you that may be new to this session you keep in mind we use a lot of productivity tools one of them under the patterns tool is the williams fractal part of the candlestick tool patterns so if we go to patterns select show patterns and select this is part of the candlestick tab will bring up williams fractal double click on that to add that what this will do this can help individuals on understanding and identifying some of those potential highs and lows that may be in the trend there's a fractal point there and a fractal point there attempts to identify some of these candle reversals that may occur in a trend i can also help identify areas such as support and resistance by kind of connecting those dots all right um so in the case of exxon mobil you know if we were to project out a swing based off of this previous move we can go ahead and right click on that line we'll do a duplicate then we can project from the low of that pattern where another potential swing is so some traders may balance out you know the difference between am i willing to risk x amount and trying to be a little fancy with our drawing tools here that pink didn't actually stand out too good there let's try red again are you willing to risk that amount to make this potential game going up to that swing all right there's an example of a swing there let's look at a couple other ones uh and you know as we go ahead and take a look at you know some of the sectors you know some previous sessions we've talked about things such as relative strength and looking at some of the sectors that are performing well today some of them performing well for some time over the last if month go ahead and sort over the last month here communication services real estate information services and energy have been some of the best performers uh being highlighted in green their relative strength which is an indicator i have on the bottom of the chart uh it has been rising over a good part of that period demonstrating there's still some strength there whereas with real estate uh even though it's been an out performer it's relative strength is kind of softening up a little bit maybe a little impact with uh with uh interest rates we can see still see some decent swings a little bit of a pullback some traders may be looking for a break back above kind of another example of a flag pattern now see some comments uh as far as with uh some of the uh the script whether it's you know called the hold which we'll illustrate here in a moment or moving averages you know even the relative script relative strength script i have here all that information here is over on the far left side here on the scratch pad those codes whether six or seven digit codes i think these are all seven digit codes can be utilized so you can make note of those they are case sensitive so if you do write them down make sure you note which are lower case versus caps and also if you do follow me on twitter you'll see that my twitter handle is on the bottom of the screen as well as on the scratch pad there if you go ahead and it's a at j mcnichol underscore tda that's where you can follow learn more about myself along with some of our other fine instructors such as cameron and uh there is a pin tweet it's the very first tweet at the top if you go to my profile which will have these productivity tools listed here with the description along with the actual code now i still get inquiries you know how do i do this how do i add this the steps are right here so whether you follow me on twitter and open up this document or if you're listening in the archive session you can pause and follow these instructions these are all customizable columns that are enabled to be brought up in your various watch lists follow the instructions and you'll be able to do that all right get back to the show here uh let's look at a couple other ones uh when i was looking at the pre-market uh you know i was going through you know a few of the nasdaq 100 stocks a couple that came up let's bring up starbucks sbux now it's interesting seeing the market making those new highs uh you know we haven't seen a a big lift in starbucks at the moment they are past earnings uh do need to put a shout out to william i did notice in the chat uh when i did bring up oxy he was observing and notice that there is an earnings event uh coming up and that could be a concern for short-term trader swing traders on do you want to trade through uh that earnings event if not uh one would you know evaluate and see you know is there enough time between now to when that earnings event comes out you know if it's a couple weeks out you know one still may be able to look for a similar trade you'll also see when you look at your watch list over on the left uh any symbol that does haven't have an upcoming earnings uh you will see uh a little uh light bulb now may not be tomorrow but it may be in a very foreseeable future whereas ones that do not have the light bulb uh already had their earnings or their earnings may be a little bit further out okay all right so again back to starbucks uh sbux so we can see an example of you know the trend you know generally rising represented by this 55-day moving average if one goes back a little bit and you can see that overall trend may have uh lagged compared to the rest of the market as we go back and look at some of these previous highs up around the 107 mark 107 108 some traders may look for that as a short-term target if the price was to bounce here if price was to trade or close above the high the low day which currently we're looking at potentially a low day here but as far as triggering a trade entry day we'd be looking at this previous day's high we go ahead and mark on that i can highlight that see what i can do to get my tools working here give me just one second here kind of pains me when i lost my drawing tools let's see if i got them here hey there we go we got them back some people have inquired as well uh what are those drawing tools this is not an endorsement uh but you know i do get asked quite a bit as far as presentation tools uh these are uh motion tools by gyration uh it's a presentation tool and i also have a mouse uh that is uh tied to it it's a special mouse so for those that wanted to know all right uh so trying to highlight the high of the previous dave i put my cursor on it that's at 105.94 i'll just go ahead and mark that area there 105.94 now what some traders may do is look to enter when there's some type of bounce or reversals price may trade or close above the high the low day that's what we would call it a cahold now the triggering point you know maybe whether at that point or maybe a little bit higher so let's say we look for a trigger about 20 cents above that high that would be 106. uh it should be 106 14.
go ahead and right click on this line all i'm using utilizing this line is is just to visualize the trade the potential entry of 106 14. i'll make this orange to represent kind of a trigger point or an entry then we'd go ahead and look at a potential uh stop now we don't know if this is actually going to be the low day so this may be something that may be adjusted the entry may be adjusted too if price and continues to slide back if it doesn't trigger today and the price is where it's at now then we may look for an entry to trade or close above this day the idea for the entry is to try and capture that momentum as the price bounces so we're still triggering based off of this previous day now if we look at the low the low is at 104 so there's the low one may set a stop that may be a percentage below that low now we've used examples of a percentage let's say one percent below the low of that day we'll go to the calculator we'll go ahead and we'll take that low price 104.72 we'll go and we'll multiply that by 0.99
that would be a potential stop of 103.67 and plug that in we'll go we'll make this red to represent an example of a stop now keep in mind when we do place this practice trade or this practice order a stop loss doesn't guarantee if the price goes down that level it's going to fill at that price it's going to compete against income and market orders so if there's a gap like we saw an upward gap there could be a downward gap and that stop may be at a lower price but it would get one out of the trade all right so we have an example of potential entry potential stop now let's look at the target you know as far as the target the initial target as far as that previous high is only at around 107.71 just shy of about 108. now when we were kind of illustrating you know the risk versus reward you know this may not be as a great reward if one is just targeting that previous high however that could be a target another target is looking at the previous swing if we go ahead and draw that going from low to the high and then projecting that i can go ahead and right click we'll do a duplicate line and then draw that from that potential low move this chart down a little bit moving it down to that potential low adjust that a little bit below the pattern and then there's that potential target now this would uh have to be a breakout around that 108 area that's what a swing trader may be anticipating in this example keep in mind when one looks at previous ranges this is what we talk about in breakdown reversal patterns every monday at 2 pm on technically speaking uh this range where we have 100 to about 108 if the price was to break out of this range then one may potentially expect another move of about seven to eight points we go ahead and we take a look at that from around 108 to 116 uh there is that eight points so uh if one was to enter a bounce uh the idea maybe at least if it trades up to that previous high may adjust to a break even to reduce the risk on the trade the price breaks out able to capture that momentum as price continues so let's see if we can go ahead and enter this example now one could go ahead and utilize you know examples of a stock trade can do options we've done spreads let's do an example of i'll do a stock trade for this example i'm going to go ahead and right click on the chart and we're going to go ahead and do a buy custom with oco bracket now with that you'll see we have our entry order and then we have two possible sell orders uh reason why it's called an oco is if one order fills it will cancel out the other order so if we were to hit a target it would cancel out the stop if one was stopped out it would cancel out the potential target price all right now we got to do a little uh setup here uh one is on the time and force we'll make this gtc for good till cancel if this order does fill we want those sell orders to continue working now we can leave this as a day order for the entry because we don't know if this order would actually trade above this high day if it does fine we would be in the sample trade if it fails to do that that's okay too if we leave it as day the order will cancel you re-evaluate in the afternoon and then look for price to trade above the high of the current day as long as the price is still trending up and potentially making a higher low one can look to trail that entry until the price actually breaks above and then basically reconfigure that order each and every day after it's canceled all right so we got that there the other reason i'm kind of illustrating the chart it kind of helps us construct the order so there was the stop that we had determined around 103.67 so i can go ahead and plug in 103.67
and then as far as the limit the target you know i can go ahead and leave uh or put in uh that new target i believe we came up about 116 and change i'll just go ahead and change it to 116. and we'll hit enter now there's a comment about a trail and stop you know what about utilizing the trailing stop um typically in this class uh we haven't utilized trail and stops as an initial uh entry but we have explored whether modifying the stop to a trail and stop once it's made some type of move you know in this case maybe if the price was to take out this high we can change the traditional stop to a trail and stop if the price continues to trail higher looking to try and capture that move until it comes back down now trailing stops uh you know there's pros and cons with that the trail and stop uh may get you out of that trade on a very small retracement even though the price may eventually over the next few days hit that target okay so we have that set up on the sell side now another question is and we didn't address the buy to entry but we will is what type of order are we going to use to enter into the trade right now it says limit a limit order if i was place a limit order limit order is basically saying i want to enter in at that price or better which you know oh actually i made the wrong move here i don't know why it says 116. it said 116 because that's where i right clicked on the chart probably but here's the current price 105.45 which is close to the market you know if one says that they're placing in that limit order you're saying that i want to be filled at that price or better which means at that price or below the market well we're not looking to enter into the market right at the moment notice our potential entry is actually higher than the market so if you're looking to enter in a price that's higher than the market meaning you're trying to capture that momentum then we need to use another order type in this case it is a stop order now we can use a stop or a stop limit um stop limit gives us a little control over price now we don't use stop limits on a stop loss because if prices are falling and going against you one may want to get out of that trade and not negotiate the price you don't have control over that whereas on the entry you know we can determine on what's the most we're willing to pay for that stock and kind of alleviate some of that gap risk so right now we have a stop limit notice there's two prices there's a stop and a limit hence stop limit so we have a stop that's going to be our trigger what's our trigger well our trigger is what we highlighted on the chart the 106 14. so i'm going to go and plug in
106.14 now what happens if the price goes ahead and hits 106 14. it's gonna trigger an order what type of order a limit hence stop limit and then here we can specify well how much above 106.14 are we willing to pay for this stock now some traders may put in a little buffer whether it's 10 cents or 20 cents at least have a little control over that price i'll just put a 20 cent buffer um that way now keep in mind when i did that it went ahead and changed uh my cell orders here slightly for uh one reason um make sure you double check when you change these uh that it has what you want before we do the confirm and send so let's go ahead and change that back to 116 for a potential target price based off the previous move looks like the stop was about the same 103.67 got that there so here's what we got and yeah looking at the comments i like i said i didn't put anything as far as on the price on the purchase we didn't talk about it yet i focused on the exits first uh and we went ahead and put in the buy order so hopefully everyone's happy on the chat patience patience patience keep in mind we have a lot of new people that are here and by the way let us know if you're actually new to this session certainly welcome you aboard and hopefully looking forward to joining us each and every week on the swing trading class so with the construction of this trade is basically looking to see if we're able to capture a bounce if starbucks is able to trade higher anticipate that it may break out above this rectangle range and possibly reach that 116 area and what we'll do is we'll see if that triggers and potentially may modify this stop to a trail and stop uh at a later point for those that are interested in trailing stops if you do go back on the education tab and look at some of the previous webcasts when you're on td ameritrade website go to education webcast just like you probably reached this one you can go into the archive and you can also look by instructor again i'm your host john mcnichol go to john mcnichol you can see some of the previous sessions if you're focused on swing trading look at the previous ones on swing trading such as bull flag setups from last week uh even though not in swing trade class but verticals can be another option for some swing trades if you look at some of my previous sessions on the swing trading front uh i think we go back into last month i think it was towards the end of the year going into january yeah pretty much around to begin the year uh and going back into december archives you'll see some discussion on trailing stops time stops and the like i would encourage you to go back and look at some of those sessions you can see quite a few of these particularly in december kind of had a little december theme on trail and stops all right you'll also notice folks cameron also posted a link four videos on different order types great reference thank you cameron and also there is a survey as well now we're not done yet but we do have a survey i would encourage you to take a few moments to click on that link and provide some feedback you can put it aside and fill it out at the end of the session if you'd like but hopefully you're learning something new today for active trading and by the way if you really uh like what you're listening today uh make sure you click uh like on the video as well as subscribe to trader talks i usually have that posted on my scratch pad uh over here on the uh on the left click like and subscribe to trader talks and that's why uh other people have an opportunity to see some of this hopefully great content that you're listening to today appreciate it alright so uh let's go ahead and uh as far as placing this order you know i have this defaulted to 100 shares if i hit confirm and send i will stick with the hundred shares in there keep in mind the amount of equity that's being locked up for that trade that's why some traders may you know look at options which uh require less capital and the potential the ability to capture a similar move and that's where you can double check that we have a trigger to enter if the stock hits 106.14
attempt to buy it at 106.34 or better now if it happens right at that level more than likely we would get filled closer to the 10664 106.14 for example uh that'll trigger a oco one cancels other we'll attempt to sell it at 116 which is a desired outcome or if the price goes against us with a stop triggered at 103.67
again once it hits that if it hits that it'll compete against income and market orders again we'll send that through there we go and we can go ahead and see those orders on the chart as well so good graphical representation for us let's see what else we got going on um a couple other stocks was looking into pre-market uh ebay ebay kind of pushing out of a little bit of a pennant here some traders may look at the same deal look at a previous swing we'll use our drawing tool still get that williams fractal point on there going from low to high we'll duplicate that and then go to the let's try that again go to the low of that flag or that pennant just because these patterns uh you know seem to occur again and again and uh you know prices may trade to similar moves that they've done before there's no guarantee that prices will trade to that level so here's another potential example uh uh that one could practice with on this one here i'm going to do an example of a spread spread is uh one can utilize a a combination of options to have a defined risk and define gain on that trade so i'm going to go ahead and go to the trade tab and i teach this class every thursday at 3 pm eastern time there's a companion class on wednesday on short verticals with ken rose you're welcome to join that let's say we'll go ahead and we'll look at about 30 days out and then to construct this is what we call a long call spread uh we're looking at an example of buying an option that's current or or close uh to the current stock price now in this case it may actually be the 65 here would be a bit closer i would be having a delta that's somewhere close to 50 which is considered to be at the money then in turn we can go ahead and look at a cheaper option and look to sell that one so we're going to buy one option and sell the other one that's going to reduce the cost of this trade and you know as an example you know if we were to buy ebay 100 shares that would be 6 300 uh in this example if i was to right click on this 65 strike and i can go ahead and do a buy vertical up did the wrong strike let's do it on to 65 right click buy vertical we can see that uh this will cost us about a buck to a buck 24. uh that's times a hundred so that's basically 119 so certainly less equity in this example the maximum gain on this is 381 now that is if 30 days from now price is trading at or above that short strike of 70. so if we go ahead and look back at this you know that is uh the target that one's looking at for this example and if i go ahead and modify this order let's say we'll do i'll do five contracts do confirm and send so i'd be risking about 595 to potentially make 1900 that's if it trades and it's trading above 70 in next 30 days now there is a break even price does need to be trading higher unlike a stock uh options uh do have a break even if price doesn't move depending on the strategy that one's doing one can still lose on the trade this example price would have to still trade about three uh about 250 higher than where it is right now for us to start making money on this trade now if i wanted to i can go ahead and uh place this example and i'm going to go ahead and click send now there are some risks as far as with the trade uh if the price does kind of fall in between the strikes at expiration there is a potential automatic exercise if one does not close out the position prior to expiration one would look to close out this trade prior to expiration as we teach for most of our strategies so i'm going to go ahead and we'll send this through and between this class and the vertical class i'll do on thursday we'll go ahead and we'll manage this trade all right let's say i was going to do an example of a bearish trade for you and we'll call it good for today this was going through some of the stocks uh on the s p 500 and here's checkpoint uh you can see kind of a different trend potentially forming as prices are making lower highs and are making lower lows below being below a major average in this case a 55 potentially acting as resistance and notice it's kind of the inverse of a bullish trade we got a sharp move down and now we're seeing a bit of a retracement over a couple of days and the trigger for this is looking for price to close or trade below the low of the high day so here's the high day there's the low looks like we're already seeing a little downward momentum i'm not sure if it traded below that the low is one 1925 we came about a penny shy of that now bob had mentioned no stops for risk management uh good point if you go back and look at the trade that we did i can go ahead and bring that up let's create a duplicate order i define my risk right here basically based off the number of spreads position size that to risk about 595.
now i'm not saying that uh you're going to lose all of that but that is the worst case scenario so spreads you have control on how much you're willing to risk you can always go ahead and you know set an alert in the case of on ebay you know if the price was to break below support let's say if it was to break below 60 75 you know one can go ahead and maybe set a price alert and say hey if the stock goes at or below there then possibly go ahead and close out that spread but we already defined the risk and the worst case scenario before we did that that's kind of a an attraction with those spreads we're in the case with the stock uh in the case of uh that we did with um let's see here that we did with starbucks you know we did a hundred shares of starbucks which is about ten thousand dollars now starbucks can open up not likely but it can gap down and be trading at 100. you know that would be 500 right there and the more the stock goes down the more one would lose on the trade uh in the case of that spread doesn't matter how low the stock goes uh that risk is going to be defined by that spread so join us for that session we'd love to see you there all right getting back to our example checkpoint notice we are also past earnings so we don't concern about that in fact that's probably one of the driving factors on the price breaking its trend and that momentum may continue uh in this case one may also look at the options liquidity is important i'd like to see the spreads being as small as possible these spreads are not that uh that tight uh one guideline is looking at the difference between the bid and the ask to be uh no more than ten percent of the ask price so in this case if we were doing you know let's say this at the money put that's 480 that's 48 cents you know we got a spread of about 60 cents um so that may dissuade traders from going uh with that example let's see if i can find uh one that may be a little more liquid let's see bring up fast at that at the very least gives you examples of some potential bearish trades we're seeing prices breaking down retracing up looking for prices to break down again and then bring up uh lululemon and see kind of some of the trend here now this could potentially break out and be a reversal but you can kind of see some of the characteristics of more downward trends last one uh ttwo this one's a potential topping pattern we're at support traders may be looking for a break below that support hasn't quite triggered but it is rolling over today uh what i'm going to do is even though the spreads are lousy i do want to show you an example of a a bearish swing and what i'm going to do is i'm going to go to uh that option and i'm going to start teach about options tonight in a workshop called trading options i believe it's still open for registration you're welcome to join us that's under the uh in person events i'm going to right click and i'm going to do a a buy custom with stop now i'm going to actually change this it's what we would call a conditional order i'm going to change the sell order to a market and make this gtc now again this is also the struggle as far as with options making sure you're doing liquid options i'm doing this for an illustrator purpose spreads may not be very helpful for us but i can go ahead and put in where one believes the price may trade down to you know based off of this previous move you know may potential look to test that low you know we can go ahead and measure the distance from that previous move down duplicate this and basically that will go from the high down that's actually going down to 101. i'm going to look at this a little more conservative and just look at that previous low which is at about 112 and change about twelve fifty so we're going to go ahead and modify this and what i can do is there's a gear and we'll talk more about conditional orders next week as we'll probably do some more option trades on swing trading class i can click on that gear and that's going to bring up a condition and i can say hey if the stock goes ahead and is its mark price which is kind of equivalent of its last price is in this case less than or equal to i can put 112 50 that would be the potential target price now i can go in and click save now i can also say that well what if the stock trades above a certain area you know let's say in this example i can say the 123 and a half you can set a stop a percentage or a dollar amount above there it's a matter of expediency i'm going to go ahead and utilize that i can go ahead and click on that same gear for that order i could put in another condition you can see if the stock is greater than or equal to i'll do 123 58. you'll plug that in and click save now i'm just going to enter since we are trading already below that low i'm just going to go ahead and plug in an entry for this let's go and change the limit there i'm going to hit confirm and send and so now you can see as far as with the order we're going to buy this option and look to exit if it hits one of these two conditions we may use the trailing stop on this as well if the price goes in and breaks down so i'm going to go ahead and click send that went ahead and got filled now we did one contract and we'll go ahead and we'll see how that pans out over the next week all right folks hey keep in mind uh there is a survey so click on that survey cameron's pushing it out again would love to get your feedback and looking forward to joining you again next week on swing trading would encourage you to practice what you learned here today oco orders conditional orders you go back and listen to the archive session for some of the previous sessions where i've done some of these similar orders and we'll continue working these out each and every week as we did an example of both a bullish as well as a bearish swing trade today hopefully you learn something new and encourage you to practice as well and remember in order to demonstrate the functionality of the platform we had to use actual symbols keep in mind td ameritrade does not make recommendations or determine suitability of any security or strategy for individual traders any investment decision you make on your self-directed account is solely your responsibility so appreciate you joining us here today folks we'll talk to you again real soon bye now you