🔽Time stamps:
0:08 $WORK $LK $SPCE stock
2:48 $SPCE $DTSS $CAN $INO $LK gapper long & short
8:44 $BTAI gap up short, $GNPX momentum squeeze
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The week started off slow on Monday and Tuesday with both the small cap penny stocks and the large caps. I went back to play $LK $SPCE many times throughout the week. $SPCE has been a nice parabolic uptrend on the daily and an amazing swing from $22.
$DTSS was a classic penny stock gap up short, and $GNPX was a nice gap up momentum long even though I sold too early.
$BTAI gap up was the biggest loser for me but I was happy about my cut loss and bias switch after seeing that my trading plan was proven right.
How to Buy the Dip Day Trading
▶︎ https://youtu.be/TzGQE8d0f18
How to grow a small Account Day Trading?
▶︎ https://youtu.be/tff0PS0zcig
How to draw support and resistance lines
▶︎ https://youtu.be/rq4jthS3nTA
How to day trade gappers and gap ups
▶︎ https://youtu.be/cgf0FjzdsKg
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DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and use myself. Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing this channel.
Humbled Trader FAM count: 61,500
0:08 $WORK $LK $SPCE stock
2:48 $SPCE $DTSS $CAN $INO $LK gapper long & short
8:44 $BTAI gap up short, $GNPX momentum squeeze
📧 GET my Daily Watchlist + Trading Plan
▶︎ https://humbledtrader.com/watchlist
Sign up for my FREE weekly watchlist
▶︎ https://forms.aweber.com/form/72/1017244872.htm
Interested in my private Day Trading room? Join the wait-list here
▶︎ https://forms.aweber.com/form/12/122701512.htm
The week started off slow on Monday and Tuesday with both the small cap penny stocks and the large caps. I went back to play $LK $SPCE many times throughout the week. $SPCE has been a nice parabolic uptrend on the daily and an amazing swing from $22.
$DTSS was a classic penny stock gap up short, and $GNPX was a nice gap up momentum long even though I sold too early.
$BTAI gap up was the biggest loser for me but I was happy about my cut loss and bias switch after seeing that my trading plan was proven right.
How to Buy the Dip Day Trading
▶︎ https://youtu.be/TzGQE8d0f18
How to grow a small Account Day Trading?
▶︎ https://youtu.be/tff0PS0zcig
How to draw support and resistance lines
▶︎ https://youtu.be/rq4jthS3nTA
How to day trade gappers and gap ups
▶︎ https://youtu.be/cgf0FjzdsKg
🖥️Recommended Trading Tools:
Try Benzinga Pro FREE for 14 days (use code "HUMBLEDTRADER" to get 25% Off )
▶︎ http://bit.ly/2KXeAqH
Trade Ideas Scanner (use code "HUMBLED15" to get 15% Off)
▶︎ http://bit.ly/2mYKie2
Get My Trading Station Set Up & Favorite Trading Books
▶︎https://www.amazon.com/shop/humbledtrader
📝Get a FREE stock on Webull, $0 commission trading app
▶︎ http://bit.ly/2Lhtd9X
🇨🇦Questrade Canada (get $50 FREE commission trades)
▶︎ http://bit.ly/2GoeUMY
For business inquiries only, you can reach me at HumbledTraderBusiness(at)gmail.com
📊Follow me on social for more updates:
▶︎IG @HumbledTrader
▶︎Twitter @HumbledTrader18
#daytrading #pennystocks #stocks
DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and use myself. Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing this channel.
Humbled Trader FAM count: 61,500
So it's being a pretty slow week, the markets being kind of choppy, especially with her small caps. So there hasn't been that much opportunity. Yesterday and today, one of the only tickers I traded today was work slack technology and the company said after hours yesterday that they are not updating a queue for guidance at this time in response to a Business Insider article about a potential new IBM partnership. But the company also said that IBM has been its largest customer for several years, so it's basically just fake news to the stock actually gapped down overnight.
So today, I'm just actually just playing the technical bounce on that never got into full size on this position, because I would just purely playing the momentum squeeze and I was trying to watch a few other stocks at the same time. So, just a tiny, tiny weighing on this one I made about 60 cents average. Second trade. On the day, it's a ticker, I'm very familiar with spce, so I actually swung this one overnight.
If you see my by overnight strategy, video, this kind of daily chart is exactly what I was talking about, so I took it along around 2030s near the end of the day on Monday, and I sold it into the morning gap up and the spike at the Open, I mean 221 60's, so not a bad dollar $ 50 30 move on that. So this is me selling the overnight swing, and this is where I got in for the day trade. I was actually looking for a lot higher. I was looking for an ode.
A trend to the upside, but there was a lot of selling around this $ 20 $ 22 mark and that's where the stock got rejected and we just broke down video up. So you can see. I sold some here, locking in some partial and I tried to add back into full size and that's topped out here - and I was all out on this, so I did give back some of this cut loss with a day trade and one final scalp near the End of the day, again, it's being an extremely slow day. I was literally just sitting on my hands all day, waiting for opportunities, another familiar ticker from last week, so another update on the muddy waters.
Short report tweet came out on Twitter, but again this is not brand new, so PR a brand new tweet, it's just a follow up. So that's why I was thinking this is just overreaction. The stock literally tanked from 38, 70s, 37 50s. So, just going and long for a technical bounce, nothing fancy nothing.
You know huge just you know trying to no add some smaller winners to the day, it's being a slow day, dodge bounced it from 37 sixties to 38 and then 38 30s a pretty choppy week. So far on days like this is where we all need to be pretty nimble and to be selective with kind of setups that we take. So first of all, let's talk about the trades I forgot to record yesterday. So let's talk about the stocks EAN, I traded it today, but I also traded yesterday.
I forgot to record the recap, so this is yesterday February 12th near the end of the day. I waited all day too short. A lot of people actually got squeezed on this. On the front side, because you know it was apparently up too much on blockchain news - the stock went from five dollars all the way to eight dollars. For me, I wasn't long it, but I was actually looking to short it in the only end of the day. After the top has been set, so you can see I'm an execution here. I waited for the top to set before trying to attack it short. So I have a set top to risk off and I was shooting, after the break down off around eight dollars over here and added to confirmation and then covering into the washes and got stopped out on the final piece around eight dollars.
The reason I'm really conservative on this kind of day, one short is because you know it's not my typical setup to short a stock like this, and with this kind of floats, I believe, have 40 million shares, floats it's a couple of billion market cap. So it's definitely not a penny stock, but the way it was trading, it was really trapping and track grinding up all day in the squeeze near the end of the day. Kind of acted like a low flow to penny stock, but I also traded it today. As you can see, I waited for the cap down pre market.
I actually was long biased first, because no, I was thinking okay, they're gon na pull it down to trigger SSR and then trying to squeeze it back and to retest the yesterday's highs before dumping, and that's why I loaned it here and actually cut my loss really Quickly and then flip short over here after saying that we are indeed rejecting the 720s err, which is a key level I've drawn out from the daily chart. So after the breakdown I scaled in short here and added in to full size, I was covering into all the washes and of course I did not catch the bottom, but hey. I was covering into the hard pose towards the support level, and at this part I just got stopped out so a nice little gainer on the day, the other one I also traded today was okay. You see me do this time and again, I'm just buying extended sell-off towards support level and it was selling off, and there was no news that justify this and now, just literally just fine the little bounce.
Actually, this is where I heard Ben Zynga telling there's a 13 G passive stake release in LK. So that's why I was rolling this just doing this for a technical bounce, nothing huge here. The other one was a loser, but I'm really proud of it. Because of the way I come at loss you can see.
I was shorting. This coronavirus sympathy stock. The reason I was shorting this is because I don't know in the past, if you see the daily chart, the stock had a history of gapping up and selling off the entire gap up really quickly at the open we can go and see an intraday charts, but For me, that's why I went in short, you can see, I should here and scaled it in even more and the retest of the V level, and this is where I was thinking that the stock should just sell off right away, like it did from the couple Weeks ago, in the past, and also at the same time, other stocks like Apte and then BC, you can see all these coronavirus sympathy place, they all sold off and you can see. Em EC did the same thing and that's why I was thinking I didn't know. What's gon na do the same, but you know always have a stop, doesn't matter how right, I think I am. If you know the market can always prove me wrong really quickly and that's why it's very important to have a stop and use a heart stop, because that's what's gon na ensure that you actually get out. Imagine if I didn't stop out I'm with a heart stop. I would have gotten squeezed all the way up to 390 s know what I've been you know.
Instead of taking this five cents lost, I would have you know, be like 50 cent loss or something in you know that would that would not be fun. So you know always have a plan and always have a and follow the stuff if you're hit just take the loss and move on. So that's today and this I get a couple more trees. I forgot about yesterday, so I actually forgot to record my trade on DTS s yesterday.
It was actually one of the biggest winner on the day. Yesterday, on February 12, I was shorting pre market started in pre market and adding bigger after this huge rejection candle. As you can see, the stock tried to go up towards $ 4 and got really quickly slammed back down, and so that's where I scaled in at the start, her size right here, really small and after seeing this hard rejection. That means there's a lot of sellers in this stock and there's a law hidden sellers on tape as well in the price action.
If you were looking at the way the candle was trading, it was extremely heavy and someone was pulling it down and that's why I shall agree adding in short, at the open after seeing a hard rejection, I was covering Oh into all the sell-off and then I Reacted a little bit at this v, WAP retest and cover into the wash here. This is the execution from yesterday. Also something very interesting that I was looking at is that LK I traded this one yesterday on February 12th, you can see that my execution and the levels are almost exactly the same as my executions today on Thursday. So this just supposed to show you that you can no trade the same stock and be very familiar with how it trades and make money time and get dressed trading.
The same thing you don't have to be chasing the biggest runners or the biggest gainers every single you know morning, and you just you know, have one or two stocks. Are you familiar with in this case, I'm very familiar with LK and I traded this stock? Probably you know two or three times this week. You can see that I was longing all the way down here yesterday, selling into 37 60s right here and today I was buying around 37 30s and sell me into $ 38. So you know it's exactly the same execution, the same technical setup, I'm okay! As usual. Let's talk about the loser on the day. First, I was actually down a lot more on this stock BT, AI, my men and shoe flip the other side and made a lot of the loss back, but overall, I'm still red his name. So, let's talk about it, so the stock was actually gapping up on a potential upgrade just upgrade rumor and you know there was no other firm catalyst. It's just an upgrade, so I was gapping up from 24 dollars to you know forty dollars, but the stock does have an extremely low float of six million shares in the market.
Cab is four hundred thirty million. So, with this kind of stock and this kind of chart breaking out to old time highs, I just want to join a trend. I was actually more bullish on this went pre market. I was thinking okay, we are gon na get a squeeze right at the market.
Open breaking above the pre pre market highs and squeezed up to, I don't know, maybe 50 $ 50 $ 60, and when, at this hard rejection, that's where I was seeing a lot of selling on the tape and that's the way I scaled him short. And actually, you can see actually got stopped all on the short and I flipped long for a little bit just seeing that this volume bar came out, but I turned out to be a fake out, so I also got stopped out on the long side as well. So at this point I already took a loss on the short and also a loss, I'm alone, but after this hard rejection, that's where it gave me the confirmation that this indeed has a lot of sellers trying to get out of the stock after the stock was Pumped up by you know an upgrade overnight. So that's why I scale back in shorts over here covering into the sell offs and then adding onto any pops towards the video up.
And this way I got a little bit nervous, just trimmings on my size because we're starting to hold vu upper level trimming some size by added back in at this hard rejection once again, a lot of selling in these few candles here. This is what I call adding into a winner. Yes, I only took two losses on both the short side and the long side, but none of those were two full-size. Yes, they still hurt.
You can see like this. It's like a couple of dollars: loss even on a smaller size. That's still not good right, but the key is to add two full-size and adding into a winner once the trade is confirmed and start starts working and that's why I was doing. I was adding into all the pops and was covering in to know the sell offs and your support level during this pre market support around 30 to 33 area, and this is why I took everything off.
Thank God. I did because this this area was literally the bottom. There was some chance that this could gap fill all the way down to $ 30 and $ 29, but again it's Friday. I don't want to outstay my welcome and even after I went back to reshoot this.
This was with a lot smaller size, and you know I covered for like pennies before they started grinding up again, so I'm out on the street. It's not fun, taking a loss, of course, but I'm really glad the bias which near the end, still made back a lot of the losses. So the other one is going crazy right now, GM px. I actually wants to not think it could go all the way to almost $ 6. As you can see, I loaned the volume squeeze nearly open three 50s and I was so out by three 90s. You know they even catch two 20s or you know two 50s were no $ 5. You know what I could have should have. You know.
Hindsight is always 20/20, so just a small winner on this one, but I think what happened with this stock is that a lot of people were really complacent. Swart Annette yesterday on this strong Green Day. It closed really really strong and also the short through we're really cheap. So that's why I'm sure a lot of people just hammered in short, didn't think you can squeeze all the way to almost $ 6.
Trading overnight gappers is scary to me since I'm under PDT and have to wait until market open to do anything so my position is completely out of my hands until then. Of course, I do my research, but I could always be wrong!
could you explain a little more of your setup. What is the dashed line and how do you get your entry and exits to show on the charts? thank you for your amazing videos and your bad jokes.
Just noticed something crazy, all the key stocks (AAPL, MSFT, V, INTC, MA, NVDA, CRM, ADBE, etc) just hit the 61.8% retracement at the major support line. Very strange!
can you believe it you had a good idea to trade this but why dont you show more of your trades on this ticker spce
Hei 😉
I just installed IBRK platform.
I have some issues about it.
Like in my charts i have yellow ?????? questionmarks where new data should be.
I have live account and market is open yet nothing moves,level2,ma charts or anything else.
Setting up platform is pain in the ass for someone new.
Thank You
If someone can help me.
HI Humble Trader: Could you possibly do a post on how to read the Table II and VWOP. Thank you for your consideration. I am a new trader and it would help me allot.
Hi Humbled Trader. You had asked to in your day trading terminology video to add any terms you had forgotten. Can you please make a video that formally defines the Push and the Wash? Thank you so much for your videos.
Hi Humbled Trader. I have found your videos short ago and I am catching up. Could you share the TOS script for the previous day close? The one that you shared time ago in one of your videos appears to be broken. Thanks for the great content!
On Friday 20200214, I was on NVDA BYND. Only after close did I heard SPCE. Good recap!
Thanks for the recap HT, I always look forward to these recaps video from you to see how I can improve my swing trading strategy.
How do you get your trades to show on ToS without the data bubble? I know how to turn them on but mine have the time and $ info and it totally fills my screen. Thanks for all your great content!!!
I only trade 2 stocks! Lol, works great for me. Also I am a strong believer in cutting my losses at 2%. Great advice and video! Thank you
This is a bit off topic. Does anyone know what will happen to the price of Spint when the merger takes place with Tmobile
Hi Humbled Trader. Have you traded Mini S&P 500? Greetings from Chile.
What are the advantages to trading penny stocks or low floats? Are they not more unpredictable and respect technical analysis less?
Thanks
Wow, I must be doing something right. I made the exact same trade on LK on Tuesday as you did. Thanks for the great videos and instruction. Keep up the great work.
omg… I found GNPX with my etrade screener and left it in my watchlist to read about later, and then then Friday happened. Still had time for a gain, but I wasn't going to fomo
Hello… i am just 1 month old new trader. i watched some of your videos and i loved them al.. I would like to join your private day trading room.. can you please allow me to join… thank you in advance…!!!
How do you fund a Tradezero acc via CIBC and how long does it take for the money to settle?
I just want to say thank you for your gap up swing trading strategy! I had my first 100% gainer!!!
Thanks as always for the great content. It's very interesting and appreciate your knowledge. Have a great week HT!
what program are you using here? look differently from Ameritrade. also, I put 2 shares in SPCE just for the lulz. but I noticed over 5 days that it is steady going up, I might buy up more shares until the earning to see whatever it is going up or down.
The thing is you weren't a humble trader in the beginning. The market made you a humble trader
Do you have a lot size you always trade like 100 shares or 50.shartes
I caught that GNPX trade on Friday. Got in a little later, unfortunately. Long @ 4.15 all out @ 4.78. Full size, so was still happy with trade. Kinda of kicking myself not trying again when it broke that consoloda tion period and went to 5.50. Oh well, next time.😉 I was a little afraid of it going into a halt after 5.00.
You need to learn how to trade options . Less capital , more profit if you know what you are doing. I actually think you would be great at options 😺