How to Find the RIGHT Multi-day Breakout Chart Patterns
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- Опубликовано: 19 дек 2019
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Is it a multi-day breakout ... or just a flash in the pan? It’s all about that chart, the news, and your own research. Bohen and I break down how to find these patterns. Check it out!
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We hold this truth to be self-evident in penny stock trading: when one junker stock runs, more can follow.
So how can you separate the winners from the losers? How can you get a sense of whether a stock will be a multi-day breakout or a flash in the pan?
In this video, I’m presenting at TradersExpo Chicago with Tim Bohen, the lead trader at StocksToTrade.
We’re talking about a few recent runners -- PCTL and TTCM -- to illustrate how a stock chart can play out following a breakout.
Patterns can look the same and then deviate. So while it’s important to anticipate what could happen, you also have to stay in the here and now when looking for a breakout.
... or as Bohen puts it, “we don’t anticipate, we react.” That’s to say -- you don’t jump in hoping for a breakout. You react to the evidence that’s already there.
Remember: you need everything to line up to make a smart trade ... So there could be volume and news...
But if there’s no price action, beware.
Don’t get confused. Don’t be a fool.
Learn why you need to trade like a sniper. Get in and out of trades. Watch your small gains add up.
Here’s what you don’t do: fall in love with the company. Seriously. With some of these penny stocks, I could buy the company right now if I wanted to. But I don’t. Most of them are junk!
And don’t buy a random stock that’s spiking for no reason. Do your research.
We talk about the dangers of stock-pick emails ... They might tell you what to buy, but they don’t tell you why.
You know what? I don’t even want you to follow my personal picks. I only share them because I want to show you the process. But you have to learn to do your own research independently.
Find out why no stock is good enough to risk your hard-earned cash with no good reason. And learn what to look for in a chart for a multi-day breakout pattern.
How do you play multi-day breakouts? Leave a comment and let me know what you look for!
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Hey, it’s Tim Sykes, millionaire mentor and trader. Thank you for watching my videos. I hope that they help you. I want to share everything that I've learned over the years. You can check out more videos right over there, and also click ‘subscribe’ so that you can watch all of these videos, get that knowledge and become my next millionaire student.*
----------------------------------------------------------------------------------------------------------------* Results may not be typical and may vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here: www.timothysykes.com/terms-of...
How do you play multi-day breakouts? Leave a comment and let me know what you look for!
Here lately I’ve been messing them up! Lol I’ve been buying too soon and not waiting for the dip. Dip buying has worked GREAT for me in the past, here lately I got into this weird fucking habit where I’m watching the “best most volatile stock” premarket , and idk how but I got it in my head to just buy right away when the stock is up like 30-40-50% premarket at like 6AM central ... I’ll give you an example I was in on $INPX at like 10cents/share , it pulled on me and I got out at 9cents/share .... painful. But I started to feel better about getting out when it hit like .0775cents a share then all of the sudden, I saw it , like I always do, I recognized the bottom , wanted to buy but I’m out of day trades so I can’t do shit, which at the end of my journey is a good thing. For those who don’t know $INPX bounced from .0775cents/share all the way to 17cents a share.... it’s all good though!!!!
I told you Tim I don’t lose! I either win or I learn!!
Back to being disciplined, I don’t have a choice , if I keep this BS up I’ll blow up my account.
DIP BUYS for me only.
Thanks again Tim for everything.
See you in like 960ish more trades!!
P.s. sorry if I didn’t really answer your question. Well the second part at least, I feel like this comment has gotten a little lengthy.
-Jordan Reed
Not playing them yet because I'm scared just thinking about holding these types of stocks for longer than couple hours. 🤪 But wow, I was just wondering about how to recognize plays like that, looked at my phone and there was this lesson! 😃💓
Love the videos, got millions of questions I just feel lost in the sauce and dont know if I'm doing it right nor how to read the charts and got an extremely small account but beside that really inspired by the videos
Keep it up, things will start to make sense the more you learn!
I buy at support and I sell at a price close to the former resistance to be sure that I exited with a profit.
1- Look at the chart and it’s better to have multi- Month breakout.
2- Look at the Catalysts, price action, volatilities, and any press release or the reason behind the stock movement.
3- Look at the News spread and search the stock in the social media.
Now when you gather all the info you can predict the Multi-day breakout runner have a better chance to profit in buying the way up or if you missed the play in The way up don’t chase the stock, wait for dip buying in the way down.
That’s very simple method as I understood how I should act to breakouts patterns.
Thanks.
Great takeaways!
I do use market orders for ASCENDING triangle breakout buys. But that's it. Otherwise, having a buy order ready ABOVE resistance works as well.
Great info, Tims! You guys make a great team. I took notes, and I'm so excited about Monday!! Thanks!!
Another great video Tim, I finally get the limit order vrs the market order. Limit order you have way more control of your entry and exit. I see that now. Thank you 🙏
You got it! Glad I could help 👍
Watched this video 12/3/2021 - Tim & Tim are the bomb!!!
As always, very informative video.
Thanks, Tim!
Glad you enjoyed it!
Curious Tim - Is there a different Taxation rates for stocks if one resides in Puerto Rico ?And Any advise on accountants ,programs and taxation in general?
Thanks for another great video.
Thanks for watching!
Thanks for that Tim
I was struggling with that..
You got it!
awesome thank you 🙏
You got it!! 🙏
Love this!! Mahalos Tims 🤙🏾🤙🏾🤙🏾🎍🎄🌲🤶🎅
Glad to hear that!
thanks
Thanks Tim
You got it! 👍
Thanks
You got it! 👍
hey Tim, as a beginner should I focus on listed stocks or OTC stocks?
Up to you- I'd go with OTC
GOLD Fellas! Keep it up!!!
Thanks! Will do!
What do you think of webull?
What platform do i need to use to short penny stocks?
E-Trade is good. There are other options too, learn more here: www.timothysykes.com/blog/best-online-brokerage/
Quit interrupting what the boss talk
Thoughts on TD Ameritrade?
It isn’t great for shorting, but it’s a decent broker. I usually prefer E-Trade over TD Ameritrade. You can read my thoughts on all of the brokers here: www.timothysykes.com/blog/best-online-brokerage/
00:48 lol
man i like this guy lol
lol glad to hear it
💯
😎
The Hebrew Hammer,
Thanks Mr. Sykes
haha- you got it!
Tim make a broker that does not suck 👍
lol 👍
9 months later every stock is spiking up to 100% without any catalyst just a sympathy play welcome to the new market:)
I need to know the catalyst hi my name is Paul from Delaware studying to be a millionaire student
I trade earnings winners as they break out above post-earnings resistance like $RAD
👍
I'm tired of this bearded guy interrupting Tim. Will he ever shut up and let Tim finish his statement?
Thanks
You got it!
thanks
You're welcome!