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Warrior Trading // Ross Cameron // Day Trade Warrior
Before we continue...👀
💰Remember, day trading is risky and most traders lose money. You should never trade with money you can’t afford to lose. Prove profitability in a simulator before trading with real money.
❗❗My results are not typical. We do not track the typical results of past or current customers. As a provider of trading tools and educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers. As a result, we have no reason to believe our customers perform better or worse than traders as a whole.
❌Do not mirror trade me, or anyone else. Mirror trading is extremely risky https://www.warriortrading.com/why-mirror-trading-is-a-bad-idea/.
🍏 All of the content on our channel is for educational purposes only. No data, content, or information provided by Warrior Trading, the Site, or the other products and services of Warrior Trading, is intended, and shall not constitute or be construed as, advice or any recommendation to buy, sell or hold a particular security or pursue any particular investment strategy.
✔️If you don’t agree with those terms and our full disclaimer (https://www.warriortrading.com/disclaimer), you should not continue watching our videos.
Still with me?
Now let’s dig into some helpful information …
What’s my story? ✏️ You can read it here: https://www.warriortrading.com/ross-cameron/
And check out my broker statements here 📝 https://www.warriortrading.com/ross-camerons-verified-day-trading-earnings/
Our website is filled with free info 🔎 Start with this guide, no opt-in required: https://www.warriortrading.com/day-trading/
Learn about my stock selection process, how I determine entries/exits, my strategy, and more in my free class 💻 Register here: https://www.warriortrading.com/free-day-trading-class/
#daytrading #warriortrading #rosscameron #stocks #learntotrade
Warrior Trading // Ross Cameron // Day Trade Warrior
Hey everyone Ross here from Warrior Training. In this video, I'm going to talk about the short sale restriction also known as SS Our short sale restriction is a rule that came out in 2010 and it's also referred as the alternate uptick rule which means that you can only short a stock on an uptick. This is kind of an unusual thing when you first think about it. It restricts the ability to short a stock as it's dropping down.
You will note that there is no such thing as a long buy restriction where you can't buy a stock as it's going up. So this rule that came out in 2010 was designed to prevent downward really volatility. It was primed to prevent flash crashes and big drops in the market by making it. so if a stock dropped more than 10% versus the previous day's close now and that could happen at any time during the day that drops more than 10% versus the previous day's close, then at that time short sale restriction would be turned on.
And if you want a short the stock, you could only short it when it's going up. so you can't basically use a market order. You can only get in on a limit order on an uptick. And so this has the effect of making it very difficult to short a stock that has short sale restriction.
And because it's difficult to short, what will sometimes see is that stocks that are have been really, really strong for the last few days. Let's say yesterday, a stock squeeze us up from $4 all the way up to 5 all the way up to 6 and then the next day it opens at let's say 525. So it opens down 10% from the previous day and then the bell rings and it drops to 485. Now Doc dropping another 10% short sale restriction is turned on.
It's down more than 10% versus the previous day's close and then it starts to squeeze back up on a red to green move. Now is it surges up Traders who are thinking man, I want to short this stock if it six dollars which is the previous day's high, Well, they can only short it as it's going up. They can't short it as it turns around and that sometimes means there's going to be an imbalance between buyers and sellers and there will be more buyers and less sellers and short sellers because it's just not as easy to short the stock. So the short sale restriction can sometimes go hand in hand with parabolic moves and and really quick squeezes.
To the upside, because the the ability to get short is just a little bit more difficult. When you're using the Lightspeed trading platform, you'll see stocks that have short sale restriction will be identified by having a little blue, a little red symbol and we just find here a BT AI This one has the short sale restriction right here. CB So that means this stock would have dropped dirt at some point during the day 10% versus the previous day's close and so you can see the previous day's close. Here it looks like was just just under $4 and then so it needed to drop 10% and today it hit a high of about 495 and then it dropped all the way down to a low of about 450. So it effectively dropped more than 10% versus the previous day's close. and then short sale restriction would have been turned on. Is it squeezed up here? That would have allowed it to get a little bit more momentum on this move up, because traders who might have one to short it up in here and up here could only short on an uptick. So that means if I wanted to short it by hitting the bid right here at 5:09 I wouldn't be able to do that.
I could put the order, but I would only get filled as buyers come in at that price. So the short sale restriction is a very interesting rule designed to prevent flash crashes and volatility. To the downside, again, you won't see anything like it on the long side. There's no long buy restriction, so it's sort of one of those institutionalized or you know, systemic ways of preventing downside, volatility and also encouraging alongside biases in the market.
Very interesting. So as usual, if you have any questions on this video, I don't hesitate to reach out and we'll talk to you soon. If you're still watching, you must have really enjoyed that video. So why not subscribe and get email alerts anytime? I Upload new content.
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Do you have Any video on SHORT AGAINST THE BOX?
Thank you,
In response to your weksite, "Long Buy" restrictions do exist, they are called volitility/circuit breaker halts and they happenn when a stock makes too drastic of a move in either direction…
So of its triggers you can short
fantastic as always.
Concise explanation. Thanks Ross.
Is there any limit on the uptick? Like if it moves $0,01 up is it considered uptick?
Great video im still confused on one thing though, only example i got is today GME crashed 10% to 238 so we were added to the ssr list. Does that only count for today or does this go into effect for tomorrow as well?
Lets say the stock already is on the SSR for today and then goes down additional 10%+ pre market on yesterdays close does that then mean it will be on SSR for tommorrow friday?
Thanks in advance, much appreciated!
Does the SSR go into effect even given pre and after market trading figures for next days trading?
Where are my GME apes at? SSR on Wednesday and GS on Friday. To the fxxking moon!
So AMC is on ssr list so should go up tomorrow rignt?
Thanks for getting to the point. I understand this much better now.
U get trading halts on the upside though, they don’t happen on the downside
great video ross
DOES SSR APPLY TO REGULAR STOCK OR OPTION STOCK AS WELL? THANK YOU
Thank you Warrior
I'm learning as much as I can about trading before I enter day trading on a regular basis. Your videos are very valuable to me, and I thank you. I'm thinking about specializing in going short, since every time I go long the bottom falls out and the stock tanks.
Everybody buy AMC!!!!!
Who’s here trying to learn. AMC to the moon
So tomorrow AMC gets an ssr so this is an amazing thing correct? To the moon!
So its a good thing when a stock is SSR
Awesome explanation, thank you!
💎 🙌
Thanks Ross!!!!
Can I just start a long when ssr is active?
SLS boys here
How long dose a see last
"It closed just under 4 dollars so it needed to drop 10%, and today the lowest price was 4.50 " where is the 10% drop here? Your explanation doesn't go in hand with the conditions of when SSR is triggered. I think what really triggered it (in BTAI) was the previous day not the day you are looking at.
You should clarify this, thank you
I'm absolutely new to this.
Might not be asking correctly.
Say a stock is on SSR on a Monday, a rookie trader can possibly jump on thinking its a good stock then take heavy losses after the restriction is lifted for the rest of the week correct?
Did this rule recently change?
Hi Ross – Will the SSR rule ever prevent me from taking a long position as a stock is surging into a halt?
I wasn't able to get a few orders filled today as the stock initially pegged going up with the asking price.
I'm new to LightSpeed so I'm making micro adjustments from what I was used to in the WT sim.
In the sim there seemed to be 15 seconds after a stock pegged moving upward that I could still enter a position before being locked out.
I'm not sure if the SSR rule applies here however I thought it would be best to ask. With LS once a stick pegs for just a second, I seem to be locked out.
Any thoughts?
Many Thanks!
Ross is brilliant and humble, and I respect his teachings. If you are going to do his webinar in the link above to get the free download for the ebook, be aware that it is a three hour webinar and half of that is promotion for the Warrior Day Trading program
Do stocks usually go higher the next day after triggering SSR? Do they gap up?
Ross, if I want to sell short a stock in SSR mode, how do I define a good ask price ?