Both Video's below really go into detail on what I am expecting from here. Overall this current move down will soon trigger another stampede in the high beta stocks that have been recently seeing a mini correction. This mini correction is not done in my opinion but to throw out a scenario I expect a down Monday and stock getting a little market memory lift maybe towards the end of the session. This all sets us up for another yes another turn-a-round Tuesday.
I will really be focusing on a lot more scalps next week and going forward. The first video outlines a text book trade I want to continue to find and trade in the market. Its a HPS set up and I take it whenever i see it setting up. This in combination with the indicator pack alerts I will focus on every set up and trade the best ones. I want to really be able to take only the Pure HPS zones that combine the 5 indicators and the alerts from the Tradeometer and Algo X. The plan is to trade either the SPXU, SSO, SPY UPRO or any other S&P tracker with a entry only at HPS zones and out of danger of news events and areas we usually see more volatility at open and last 30 min to an hour. So basically looking to trade between 10:15- 3:00pm. just another note: Quality stocks will be considered also to trade but it have to have a short time frame HPS confluence happening.
I also want to show how you can do this with a small account and build it over time using this strategy . So I opened another Suretrader account to track the progress. (If you use them be sure to tell them your part of DTR You get 20 free trades and 1month of there Pro Das) I Thought about the amount to start with and even though I want to start really small cause you get 6 to 1 margin. I am being more realistic and starting with $5,000. This will give me up to 30K to work the strategy. I can only effectively do this strategy with under 25K using SureTrader as there jurisdiction falls outside the SEC and Finra Pattern Day Trading Rule.
My Goal in this?, To improve my discipline and lock myself into testing HPS method and indicator pack. It works so i want to use it and show it works. I am going to do another bigger write up on this later in the weekend to detail my rules of the trade.
This video is a live example of the setups I want to trade there are many combinations but this one is one you see a lot in the markets.
and the next Video is the HPS Watch List I have 2 best Bets and a Great watch List this is Enjoy
