An Edge with Correlations Across Time Frames · Dan McDermitt
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- Опубликовано: 5 июн 2024
- EP 267 | An Edge with Correlations Across Time Frames | Dan McDermitt
Stinging losses with mutual funds in 2008 drove Dan to become an active manager of his portfolio. Enticed by the legalization prospects of marijuana, he dived into learning the fundamentals and technicals of the sector. Learning how these stocks traded relative to each other, he cultivated an awareness of the correlations between these companies. These interrelationships would later be applied to large cap stocks, Commodities and Crypto across different time frames to give insights on when to participate in Bull and Bear runs, and when to back away.
Feeling the pain of big early profits evaporating over months, Dan was forced to cultivate a mental flexibility in trading by considering both Bull and Bear signs in every stock he follows. Combined with correlations over multiple time frames with other stocks in the same sector, influences from Commodities, the dollar and various sectors, he flushes out nuances with scalpel-like precision and is ready to flip bullish or bearish without attachment.
Disclaimer:
Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.
Topics & Timestamps:
Please note: Exact times will vary depending on current ads.
0:00 Intro and Background
3:00 First penny stocks bought
6:50 Expanding from penny stocks to regular stocks
8:50 Early mistakes
13:30 Switching to day trading
17:00 Zooming in can lead to over trading
18:15 Using different time frames to trade
21:20 Why Dan started trading Crypto
25:43 Trading style switch
32:45 Signs of a bubble market
36:00 Relationships and correlations
46:45 What is a Bull and Bear thinking with this chart
50:00 Reflecting on the conversations in our head
54:30 Visualize your trading and personal life
56:20 What Dan struggles with most in trading
60:40 Highest points as a trader
64:20 Dan as a farmer
66:20 How to reach Dan
Links & Resources
Website: www.chartguys.com/
Twitter: / chartguys
RUclips: @ChartGuys
* NEED ACCOUNTABILITY IN YOUR TRADING JOURNEY? LEARN ABOUT THE TRADERS ACCOUNTABILITY PROGRAM BROUGHT TO YOU BY THE CWT COMMUNITY: chatwithtraders.com/community/
#daytrading #stocktrading #tradingmindset
I was a member of the chart guys in 2021. A good group of people w/great educational content. For beginners, I would absolutely recommend it. My one issue was a lack of transparency with the elephant in the room; P&L.
I met Dan in 2017. The man is legit. Community rocks too. Great interview and questions from the host. No spam here just a non solicited testimonial
"all those hours and all that preparation" which makes me cry, to be a good trader is all about practice, no shortcut
Good
General
1. Psychology / Position Sizing
2. Learning Process
Was waiting for him to be on this podcast for years!❤
All is important is information you receive. And is a lot of useful and updated information with or without Aaron
I am chinese ,hence I never heard about Dan before,but according to the conversation, his process of being a great trader is so fantastic . From having a bunch of indicators to removing all indicators of chart is not easy for beginner to understand.
being a good trader makes you a good person , can't agree more
Dan is a great trader.
Have learn a lot from him.
Glad you had him on the podcast
Glad it has been helpful Cricket!
Oh my God, they've actually got Dan on this channel at last. This is the one I've been waiting for, great work guys! 😍😘🥰
Appreciate the support!
This man is a genius in the markets 👍👍
Great episode, I only wish it was longer. I'd love to see a follow up at some point in the future. Maybe one that focuses on what it was like over the years creating TheChartGuys community. I've joined a lot of different trading groups over the years and theirs is incredibly unique.
Thanks Ares
Good episode!
Man I like your show
Thank goodness for Dan, and thank goodness for this new interviewer. Aaron meant well, and I wish him well, but he was not knowledgeable enough about trading of skillful enough as an interviewer. I'm glad you started this franchise, and I hope that he profited from it, or continue to profit from it
I was impressed with the flow! There is certainly a difference talking to traders vs. Non traders in interviews.
Dan is a great trader 👍
Thanks Rox, see you on the streams!
I ❤ Dan
❤ u 2!
Chinese penny stock lesson 😅
No Seriously
This channel has officially lost its touch since Aaron left
Then you don’t get the main character’s of the podcast.
I do dude, hes made tons of ppl online and even his friends and family lose a lot of money on a stock called Ianthus and he never even mentions it
Honestly, Aaron had a different touch. I miss his conversational skills, at the same time Ian and Tessa are doing a great job keeping the channel alive.
this guy has no edge lol - just a lucky gambler
13 years of full time luck!
I am told it is year 14 that beginners luck usually runs out, keeping my fingers crossed though.
@@ChartGuys maybe I'm wrong .. but I didn't hear anything super insightful, which is why I said what I said.
No worries, all opinions fair game @@gasfeesofficial3557 👍
he sells a course@@ChartGuys
You're insane >>>> Dan has brought me as a never ever trader, never touched a stock, to DESTROYER who crushes. Dan's lessons have made millionaires, and I as well soon in time will make millions off of stocks and crypto at the rate I am going >>> easiest money I ever made, pushing buttons.
Dan is EXACTLY THE OPPOSITE of a gambler and ACTUALLY TEACHES you how to NOT gamble and WIN at stocks.
The Chart Guys are THE ONLY trading channel you really need. You could delete and throw away every other stock guru and stock channel out there, and just study Chart Guys' lessons, and make MILLIONS.
MILLIONS, from zero.