Indeed. We've received a lot of questions about the B-Wave. In case anyone is wondering, Gary mentioned that one in detail in this video at 29mins 40 seconds onwards: Momentum Trading After a 100% Rally ruclips.net/video/4nWnGniVSd4/видео.htmlsi=Fn1Mfs8ZcL2ipMJh
Many Thanks -Always a great watch. Are there any comprehensive screening tools for ASX companies….. such as Finviz, IBD, etc that are out there for U.S stocks.
Good question Steve. We've wondered the same thing for years - which is what spurred us on to make the algorithms, tools, lists and the FMP channel. We're rolling out updates to the channel where we can share such filters and lists. It's started with the Members channel and we'll add more levels of members over time as the updates are completed. At the moment Members get the 3030 List when Gary does on Thursdays. New additions will be added over time to help filter ASX companies and find trading opportunities.
Thanks for your thoughts on real strategy. Just a comment on the "must have a stop" as part of my plan. 4 out of past 6 stops in last 3 weeks have been hammer, doji, drangonfly or takuri looking candles - I dont care what their called - result is Ive been shaken out of good stocks. Not happy. A discussion on how to refine strategy would be appreciated.
I've had the same experience. I reviewed my previous trades and noticed I was regularly shaken out of stocks that soon after went on to make a strong move. I'm experimenting with taking the position earlier (before it breaks) or using a slightly wider stop. I'd also love to hear Gary and Chris's thoughts on how to approach this.
Good questions. Books like Van Tharp's will go into detail about the importance of a stops in general, Minervini has similar thoughts too. If we work on the premise that all top traders use stops, then it becomes the application of stops. That is an individual thing, and is often best fitted to the personality. for example, some work best with intra-day stops. others end of day, and the nuances continue. Then there are market condition overlays. We've built the Momentum Profile to help us gauge this (we'll share that soon). Effectively there will be times when the going is good or momentum traders, and times that are less so. Minervini talks of this often, about adjusting targets, stops etc. but maintaining risk to reward ratios. We know this happens in ebbs and flows from studying our own trades, and the world's best. There are 'purple patches' where everything works. and time that most trades do not. Gary noted that one year 140% of his profits came from 12 weeks of the year only. The rest of the year, he lost -40% of those profits. We'll see what we can put together on stops and how most traders use them, what the best do etc. note - this is not advice.
Study all your past trades is probably the best answer - are they too tight / can you split them like Minervini - he might have some at 4% and some at 8% to maintain a 6% overall. That can potentially keep you part in the trade. How does your average winner compare to average loser - as losing is a part of the game - no great trader can have multiple big winners without the many small losses - its really just maths at the end of the day. Almost impossible to have one without the other. Review, Review, Review will hopefully reveal small improvements that can hopefully lead to large improvements.
No better feeling than running with these strong trends. You both have improved my results.
That's brilliant, stoked. Thanks for sharing Toddy
Thanks Gents, some great explanations re methodology and trading biases
Thanks Cyclone, appreciated.
The B wave break is a thing of beauty 🤤
Indeed.
We've received a lot of questions about the B-Wave.
In case anyone is wondering, Gary mentioned that one in detail in this video at 29mins 40 seconds onwards: Momentum Trading After a 100% Rally
ruclips.net/video/4nWnGniVSd4/видео.htmlsi=Fn1Mfs8ZcL2ipMJh
Thanks again huys - always informative and useful
Cheers, thanks Marty
Many Thanks -Always a great watch. Are there any comprehensive screening tools for ASX companies….. such as Finviz, IBD, etc that are out there for U.S stocks.
Good question Steve.
We've wondered the same thing for years - which is what spurred us on to make the algorithms, tools, lists and the FMP channel. We're rolling out updates to the channel where we can share such filters and lists. It's started with the Members channel and we'll add more levels of members over time as the updates are completed. At the moment Members get the 3030 List when Gary does on Thursdays. New additions will be added over time to help filter ASX companies and find trading opportunities.
Thanks for your thoughts on real strategy. Just a comment on the "must have a stop" as part of my plan. 4 out of past 6 stops in last 3 weeks have been hammer, doji, drangonfly or takuri looking candles - I dont care what their called - result is Ive been shaken out of good stocks. Not happy. A discussion on how to refine strategy would be appreciated.
I've had the same experience. I reviewed my previous trades and noticed I was regularly shaken out of stocks that soon after went on to make a strong move. I'm experimenting with taking the position earlier (before it breaks) or using a slightly wider stop. I'd also love to hear Gary and Chris's thoughts on how to approach this.
Good questions.
Books like Van Tharp's will go into detail about the importance of a stops in general, Minervini has similar thoughts too.
If we work on the premise that all top traders use stops, then it becomes the application of stops. That is an individual thing, and is often best fitted to the personality. for example, some work best with intra-day stops. others end of day, and the nuances continue.
Then there are market condition overlays. We've built the Momentum Profile to help us gauge this (we'll share that soon). Effectively there will be times when the going is good or momentum traders, and times that are less so. Minervini talks of this often, about adjusting targets, stops etc. but maintaining risk to reward ratios.
We know this happens in ebbs and flows from studying our own trades, and the world's best. There are 'purple patches' where everything works. and time that most trades do not. Gary noted that one year 140% of his profits came from 12 weeks of the year only. The rest of the year, he lost -40% of those profits.
We'll see what we can put together on stops and how most traders use them, what the best do etc.
note - this is not advice.
Study all your past trades is probably the best answer - are they too tight / can you split them like Minervini - he might have some at 4% and some at 8% to maintain a 6% overall. That can potentially keep you part in the trade. How does your average winner compare to average loser - as losing is a part of the game - no great trader can have multiple big winners without the many small losses - its really just maths at the end of the day. Almost impossible to have one without the other. Review, Review, Review will hopefully reveal small improvements that can hopefully lead to large improvements.
CXL will be huge when the green sector is backed again. They have some good tech especially in the concrete making space.
We'll keep watching that one