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The correct approach to learning day trading. | Dux Weekly Analysis | Steven Dux | YouTubeToText
YouTube Transcript: The correct approach to learning day trading. | Dux Weekly Analysis
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Video Transcript
what's up guys Tim doctor
so today we're going to cover two topics
first will be what's the most efficient
way to get into date earnings and second
we're going to go over the weekly recap
what you have wrought acres recently so
I'm going to go over them one by one and
it's going to be very interesting
because the markets been fairly stable
compared to the last mount first of all
what's the most efficient with giving
day trading so first of all we divide
them into three sectors first will be
pattern analysis second will be by
analysis third will be indicating
answers now all those theories are kind
of related because they kind of included
each other so I'm going to list you know
how they are different pattern is
combined by criterias there's a criteria
1 or tier 2 and tier 3 for example so if
you are doing obviously a gap down or
potential first right they sure and you
are looking for market cap between they
say 10 to 100 million volume is around
20 million to 40 million the flow is
between about 3 to 5 million so you are
looking for all these specific criteria
for specific patterns once it fits the
criteria then you're looking at your
statistic sheets you should know what's
the winning percentage of this pattern
now second what I'm talk about will be
volume analysis this one is kind of
everywhere and I'm going to give
examples later on but it includes
gaining equalities and losing equalities
for example let's say we are trading on
the first green day and we have a
morning spike now more respect typically
counts as a guarantee quality so if the
stock continued to spike and starts
consolidation and there's no resistance
whatsoever people are very interesting
to this stock because if the stock is
already over a hundred percent and
people were saying oh you maybe go 200
percent during a percentage so in
between that time it will attract more
volume compared to normal so once you're
doing your long prediction for the
entire day if the stock is doing morning
spike consolidations you will trade more
bonds than normal now second when you
are looking at the same
panic and the stock just dropped 50% in
two seconds and that would definitely
you know people will lose interest about
their stock because will consistently
reduce volumes throughout the entire day
now that's gained equally and losing
equality so the last thing that it's
kind of related will be volume ratio
compared to individual resistance I'm
not going to dive too deep about that it
takes way too long to explain but volume
Narcis is very important to compare to
the factors and pattern definitely state
as a priority so when you're keen of
analysis and patterns patterns always be
volume analysis and the last one I'll
talk about will be factors I think it's
definitely the wrong way to approach
into the stock market when you are
learning double top double bottom and
these type of factors doesn't really
produce good winning percentage let me
give you an example so if there is a
massive support at three all right it's
unbreakable support we have a certainly
a double top by three point one all of a
sudden we can start dips to three you
would definitely reverse so there's no
reward for you maybe potentially ten
cents but stock definitely have much
bigger upside compare to the short side
so in this case people who are more
experienced with the stock market will
take advantage of that people that don't
really know how support and resistance
work how long notices and pattern works
and that's how they take losses so when
you are looking at factors they
definitely help but always pay attention
to the previous two priority will be
pattern drawing analysis and that's my
recommendations for you guys as a
beginner if you wanna learn and proach
into this market always find a one or
two repeatable patterns and how to
really find patterns already the video
before and that will be all suggestions
for beginner trying to get into the
market and let's get into weekly caps as
I said markets getting stable now so we
have d similar tickers and decent amount
of patterns and the pattern has gone
back to normal and it's very profitable
I have profit about close to maybe
30,000 to 40,000 this week it's going to
these ticker
and talk about how they're really spot
patterns and how do I really look at
which ticker is credible which ticker is
not it's getting to this two weeks recap
we have four takers that I selected
maybe I'm missing something but it's
getting to some of the tickers that I
wanted to talk about so wll this ticker
as a priority when we're looking at a
chart we look at the histories overall
we traded about 10 million shares or
more averaged about five minutes per day
and it's a consistently down trend chart
and we are looking at are consistent
uncertain chart with a major first
screen date it 60 percent of the time
you'll always have a second green day so
we were saying I take her perform the
first screen date actually the more
volume compared to in average and there
is about sixty percent of time the stock
will gap up and of course it gapped up
almost doubled and created a mass amount
of volume close to 300 million on that
one day now we are seeing a massive
amount of volume is what definitely not
normal because when we're looking at
general market the average voluntary
it's about 20 million to 40 million the
average so 300 million is definitely
overwhelming and of course the price is
a little bit lower compared to what we
trade in normal the price range we trade
is around three to ten dollars per share
around first green day now if it's a
multi-day runners it will be completely
different story
so um wll I consolidated close to three
hours and at the market close in the
next day it gapped down so he performed
the overstaying gap down definitely
trade much less volume compared to the
300 meeting day so when you're looking
at is two days trying to compare with
each other because the breakouts needs
consistent equities and potentially more
liquidity and the reason why I talk
about equality means the stock next day
needs to get more volume to break the
previous day high so we are looking at
wll 90 million difference not going to
break 300 million and in this case the
stock definite favors short now when it
favors sure you have to look at
and the flow and the resistance now as
we see the resistance is around 1.8 when
we're trading on NASDAQ stocks or my I
see Nasdaq does have a requirement that
the stock cannot go below 1 and if it
goes below wine doesn't really meet and
has that requirement so a lot of
companies tends to higher market makers
and potentially manipulative stock go
above 1 which is very normal in this
type of situation
so for wll you can automatically assume
the support is going to be out 1 and
where you want to show there will be
probably under 180 in this case and we
are shooting around let's say 140 and
your maximum reward will be 1 that's
only about 40 cents reward for me it's
definitely not worth it because when you
are trying to borrow shares to show this
type of stock as very cheap stocks so
you need more shares and that will give
you more Commission's as a cost and also
it will be more risk lower priced are
typically have much bigger risk the load
the prices the more risk you are having
and it's not very good risk reward and
also I'm trying to short with a large
amount of risk that's why I didn't
really short wll right people are asking
me about it and potentially you can
faith more and back to maybe 70 cents to
50 cents on long run but for me
definitely not my pattern and it's a
potential short so what's a try but
let's look at WRX now this one will be
one of the special ticker that we have
during the coronavirus hype stock went
from almost from 2 to 15 now 2 to 15 is
generally kind of normal when we're in
this type of market but the volume is
definitely not normal because in that
specific day we traded almost a hundred
million Mali on that day 100 million
long as I said it's around the maximum
volume that we typically have for these
type of low priced stocks so when you
are trying to aim for either over stink
gap down or potential back shore you
will be deafening good for long-term
hold as a
in my room and WRX I will hold on to its
around four or two and this one got
qualitative so probably when it reopens
its going to open around maybe even
under two or one because there tend to
do a massive offering and that's what
WRX and if you swing dit congrats and
swing positions typically involves about
two to three month hold and in this case
if you're sure that using obscene gap
down and adding the potential bounces
your average supposed to be around maybe
nine to ten and if you cover around two
dollars and that'll be over 80% profits
of your original investment so I will
say WRX are one of the signature
patterns for you to really learn from if
you're going to do part time traders so
the next one I'll talk about will be say
PAH and this ticker does have some type
of resistance now resistance it's not
that clear because when we're looking at
fresh resistance or clean resistance it
needs to be volume only packed in one
day not slow grind or potential breakout
through the resistance without any
volume so when I'm looking at in the
middle right here these type of in a
potential break out and on the figure
out kind of mess with the resistance a
little bit because it treated pretty
much no volume and thus I can break this
resistance in about five days so when
you're surely in say PAH this one I
didn't size the name the way I wanted
because as I said the resistance are a
little bit strange looking at overall
chart so this is the ticker that I
shorted average is around 3.8 and I
think it covered around 280 H so I
covered have around three covered have
around 270 Laster I won't talk about
will be Co DX now co DX is a very normal
chart that I talked about a thousand
times these type which are are favored
into swing positions that means when you
are trying to treat as an intraday
pattern it doesn't really work that well
because when star takes multiple days to
go up the speed of coming down equals
the speed of going up now let me give
you a
see example for motive owners compared
to fast countdowns and fast go up so I
know as you as you see I know I don't
know as you see the stop starts to speed
up day by day and treating more volume
compared to the previous day the second
round actually took much longer compared
to the first time first time went from
$4 to $20 in about one two three four
five days the fifth days actually
dropping so one two three four days and
I don't know starting from 8 to 15 so
overall only a hundred percent it took 1
2 3 4 5 6 days when compared to the
speed of going up for 220 that's about
500% 8 to 15 that's only about 100
percent i took longer to get up there so
for i know to come down you will take
probably four days or five days to go
back to maybe ten since there's a large
amount of support around nine and that's
why i'm always not ideal short so
hopefully not answered all your
questions on i know and see what the
eggs because i do see a lot of questions
that what the stocks going into
potential resistance what do i do again
about that is they intruded pattern or a
swing pattern so as I said it's a swing
pattern if you want to swing and you
will be worth your time but personally I
like to catch intraday patterns they do
have better risk reward and higher money
percentages so these type of swing
patterns they are slow I don't like slow
stocks so that's just my personal
opinion and that will be the end of the
video hopefully you guys liked it please
smash the like button and if you guys
have any questions please leave a
comment below I will answer it as soon
as the video is posted I will see you
guys in the next one [Music]
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