Investors live DVD

Same review as on my newer blog.
I was reluctant to buy the DVD because of the price tag and really didn’t know very much about Nate.  Heard it was worth the money and when I saw it on sale with a trial for his chat I decided to buy it.  Cheaper than a bad loss and got the opportunity to see what inverstorsunderground is all about.  I figured I knew a decent amount about day trading by now (few months in Tim Sykes’ chat and also Superman’s-reviews coming) but I ended up learning a lot watching this DVD.  Nate breaks it down very simply at the beginning in case you do not have any previous knowledge or experience trading.

The main thing that opened my eyes first time watching was how to set risk.  Before I was choosing how much of a stock to by from its price.  I would say I’ll put $2,000 into this stock, its $10/share so I would buy 200 shares and manage the trade from there.  Not knowing exactly when to get out if it went against me.  After watching the DVD it completely changed my approach and I know how much I’m risking per trade.  I now have a good spot to cut it off and keep my losers in control.  I know going into a trade I am risking a loss of $50 if I am wrong and nothing more.  This also helped me realize it is ok to be wrong and to just move onto the next one because my losing trades don’t hurt as much as before.     

Nate also gave me a new pattern to be on the watch for – ABCD setup.  I had seen it played out over and over before, but didn’t have a way to explain it or be ready to capitalize on it.  This is a great setup with a solid risk vs reward, most importantly the set risk I lacked in my trading previously. 

Nate is good about explaining what types of trades to focus on if you’re new.  Hint – if he says not for new traders, leave them alone.  Prove to yourself you have a good understanding of his other trade setups and can execute them consistently.  Only after would I suggest trying the riskier plays like parabolic shorts.  On that note I would wait and watch it play out multiple times in chat before using any real money.  The plays that are easiest for new traders to catch are ABCD and late day fades.

I liked how Nate goes over his setup in the DAS platform.  He shows you exactly what he is looking at and how to set it up on your own computer.  I set mine up like his, but to track 2 tickers instead of the 3 he does.  I have a smaller screen and 3 looks too small for me.  Without Nate going over this, I would not have opened a suretrader account.  He recommends them in the chapter he goes over a few brokers, but a walk through on how a successful trader set it up is what gave me the push to give it a try. 

Finally this DVD helped out with creating a watchlist and plan for the next day.  I struggled to create watchlists before.  I had some help from Tim, but he looks for very specific plays.  I am trying to be a full-time trader and like to push more buttons.  Nate helped identify patterns setting up from the daily charts.  I didn’t think about what the wick meant and looked like intraday before he spelled it out.  Also what to look for in a gap play – PDT friend because you buy at end of day and can sell at open next day and not using a day trade.  I limit my watchlists to stocks under $15 or $20 because I have a small account and can’t afford the bigger stocks.  Now I have something specific to watch for with every ticker on my watchlist.  I tend to favor the red to green setup because it is easy to identify and seems to give most small cap/micro cap stocks a good pop.  Also easy to identify on the daily chart it has a history of doing this.

Check out Nate’s DVD - http://www.investorslive.com/amember/aff/go/kavemanlax

http://profit.ly/store?aff=4078

I love how approachable Nate is in the chat and how helpful he is.  He always answers any questions I have and has helped guild me in trades I wasn’t sure to get out of or not.  I will create a review of IU chat later.  I will do a review for everything I mentioned in here-hoping to get it done next week or two.  (Superman’s chat, Tim’s chat, investors underground chat, ect)

Here’s another link if your interested in any of the guru’s on profitly.  Happy to give you my thoughts on any of the services. http://profit.ly/guru?aff=4078

5/28/14

More positive moves from the market and more more negative moves from me.  Over traded today and need to limit amount of trades I take on in the day.  100 dollars of commission and fees is not good.  Lots of action today, so here the recap.

IB account
daytrade-DYAX-had small profit that I did not take.  Hoping for big breakout that did not happen.  Got stopped out for a loss.

WATT- nice news released today and was able to exit position.  I sold some shares lower than planned, because I didn't think this spike would continue and wanted to limit the downside.  Ended up hitting my target, so could have better gain.  Glad to be out, if I re enter will be at a much better price for this spikey stock.

DARA- took an overnight position on this.  Was up nearly 100% on the day, so I probably should not have bought.  Small position in part because of this, hoping for a morning run or possible gap up.  Looks to gap down right now.

FCEL- another other night long position.  Sector is getting some attention again.  Will also look to play PLUG and maybe HPJ if setup is right.  Closed around high of day and looks more promising than DARA right now.  Look to sell both early in day tomorrow.

ST account
ended red again.  My daily loses this week have been in check, its the commission and fees taking me down.

5/27/14

Good day for the markets today.  Got some new all time highs.  Really close to 13 year highs in QQQ. Starting to believe the past few months were just a pullback, and bull market still here.  Looking forward to hearing what Tim has to say about it.  Superman's swing and that room have been doing very well.  Ready for my next swing position alongside them.

OH account
KANG- sold this after a little gain today.  Been holding this for a while and has not had good action.  Up nicely on the day.  May continue its ramp up, but happy to be out after being underwater for a while on it.

IB account
waiting to see if I got filled for IGC.  Tried to get a position to take overnight, didn't fill regular hours so left it open after hours.  Day trade should open up tomorrow.

ST account
Bad day for me.  Too many trades and commissions hit me.  Red day for me.  Did good on LIVE, but lost pretty much every other trade.

Need to be more careful with how many trades I take tomorrow.  That is for going forward in general.  Hopefully better rest of the week.  Will be nice to have nate back in the room for guidance next week.  Proved not ready to fly alone.

5/22/14

Markets be green again sucka.  All of the indexes ended up green, but not by much and supposedly on light volume.  Figured would be on light volume with memorial day coming monday.  Good time for a long weekend.  Am only planning on trading in the morning tomorrow as I expect most people to take off early.  Lets see how the day went.

IB:
sold TSL-tried to give it a chance and swing in my favor.  Had the opportunity for a profit but did not take it.  Sold for a loss, not the best start to the day.

daytrade-Shorted APOL-got word of big rumors around this stock and a large fund shorting them.  Chased a little to get in, missed entrance from earlier.  Covered once I moved my stop loss down.  It got triggered but I moved it to make sure I profited from this trade.  Was a small profit, could have been a large win if I wasn't stopped out.  But profit is profit.  I'll take the win.

ST:
First day using this account.  As I will try to keep reminding myself.  Focus on good trades and do not over trade.  Commissions will add up and erase wins.  Will not give as much info on these trades in this account.

MY-tried to go long and had steady downtrend.
Short MYGN-took forever for it to crack, but nice move.
ROYL-shorted for fader-should have held longer-only got small part of the move.

Overall green today

5/21/14

Markets seemed to act nicely for most people today.  Not a whole lot from me, mainly just watching.  Superman's chat was crazy today.  Seemed like anything being mentioned in there exploded shortly after.  I think superman ended the day up something like 150K.  Just insane. Ihttp://profit.ly/guru/superman?aff=4078   If you want to check him out.  Will be moving forward with my new suretrader account tomorrow.  They wanted me to wait to open up the platform, so I will try to get it set up tonight at some point.

covered VNCE-slow mover all day.  I thought the lockup ending would bring in better volume today...nope.  Hit a low of 24.19, but not where my order was waiting.  Ended up covering about 2 hours left in day.  Bought at low of the range it ended in.  Just a about 10 cents a share profit.  Again not a big winner, but not a loser.

Bought TSL-this is a play Tim is also in.  I am hoping for a gap tomorrow and will take it off.  Just playing hoping for a spike and or gap.  Closed alright, so maybe.  Not a lot of action in after hours so don't think it will move much tomorrow before opening bell.  Need to stop playing so many 3 letter stocks. Do not like AMEX that much.  Don't feel like they trade the same.

http://profit.ly/guru?aff=4078

5/20/14

indexes crash boom bang.  Down the stairs they go.  Small caps feel a little better now.  Could be money moving back into small caps from large caps.  Which would be good for my plays and focus.  Markets to downside led by Dow, so big guys getting hit right now.  Most likely an ugly week for them  as the long weekend gets closer.

PAL-sold as it made a decent run about an hour or so into the day.  Sold little under 28, in from the 25s.  Good play and gain on a small position.  Good call Mr Pedone.

QTWW-covered pretty much as fast as I could.  The panic I was hoping for came a lot later than I planned.  So covered for a few cents profit.  Could have have about 30/share.  But out with tiny profit.  Nice to have it not go perfectly as planned and have profit.

P-used a daytrade here.  Bought at great entry near bottom.  Had a quick gain so I locked in some profit and raised stop.  Then stop got triggered before it went on its big run.  Would have been a monster trade for me had I stayed in.  Still a little profit for me and makes it a good day.

VNCE-started a short position.  Lockup period expires tomorrow and hoping some of these newly introduced shares find way into the market.  Easier said by saying I hope these shareholders sell at least part of their position.  Got in right around the support level of 24.50.  Has to break this for a profit, but I think if it does break through this it can have a large move.  Thats why I'm in.

Money sent to suretrader yesterday, waiting on their confirmation.  Then will have little more activity.  Biggest enemy will be overtrading, so will aim at about 3 trades a day.  My other accounts will be an additional trade when available.  Can really start watching Nate and others in InvestorsUnderground room.  http://profit.ly/guru/investorsunderground?aff=4078

5/19/14

I think all the markets were up today.  Not the usual having one or two lacking behind and red while the others are green.  I got some funds together to start an account with suretrader.  Will post on how I am liking them once it is set up and I have a trial period.  Excited to get past the PDT rule through them.  Been stalling out on other account trying to reach it.  Will be able to utilize investorsunderground more with this capability.

Bought PAL-idea from a pedone pick.  Bought in last hour of trading.  Saw some bigger volume bars coming in and think this has potential to get a little spike tomorrow.  Not looking for big win, but should get a little run tomorrow.  Chart put in what looks like a bottom.

Short QTWW-little fade right at close.  Hoping that is reason for people to sell at open.  Will cover quickly tomorrow morning as I hear people really liking this stock.  Just need a quick drop to have a profit.  Will be quick on trigger.

Wanted to short NVGS but forgot.  Another lockup expiration play.  Didn't hear anything about this one, but it is also freeing up a large number of shares.  Thought about trying to get in afterhours but I would rather simply miss this opportunity than chase from here.