I love this video Lance, Thx man for sharing the deets! Ooooooo and , That hat looks like BtheTrader hat ;) and if it's not. It will always be in my eyes now :)
Thanks for providing such valuable information for free. Like, thank you a ton. Maybe you don't even realize how helpful this is. I'm really grateful. 🙏
You are 100% right Lance, this is how stocks have moved for the past 100 years. If you put in the work and really go back to see how stocks have made big moves you will find that they move in a stair step direction. Big move, consolidate, then breakout. Our job is to catch the next leg up. People love to make trading complex, this stuff is so elementary if you put in the work folks!! Thank you Lance for reinforcing
Great re-cap -- thank you so much for being so explicit about what nuances you were thinking of - I'm at a stage where I'm really striving to add more nuance to my trades, and hearing you list off day 1 news, most volume ever, micro cap, low float, biotech, 1 premarket 3x leg, 1 leg mid morning, consolidation for the rest of the afternoon in the upper quartile (clean and tight), then the dip and rip into the break of HOD into a halt -- that will help me avoid anticipating and falling for the 9/10 that lukas mentioned don't work :). Great vid, liked!
Thanks for sharing this insightful deep dive on $VVOS! Your candid approach to discussing the controversy and confusion surrounding the stock is refreshing. I appreciate your emphasis on studying and playbooking opportunities like these, underlining the importance of being well-prepared in the trading game. Your analysis of the historical price movement, volume increase, and the cautious approach on day one of a news catalyst adds valuable nuance to the discussion. The breakdown of intraday movement and the emphasis on staying with the trend, especially above VWAP, resonates well with my own trading principles. Your acknowledgment of different perspectives and the need for individual trading styles is spot on. Thanks for the clarity and the emphasis on continuous improvement - it's evident you're fostering a thoughtful and informed trading community. Looking forward to more deep dives like these!
Excellent video Lance. Understood your thought process and learnt a lot and you are right. With proper scanners it can be an A+ setup. However, I liked the statistical data presented by Lukas and may be a bit biased since I am a systematic trader and my preference is stats. However, I feel truly blessed that both you and Lukas and even Nate shared great knowledge on the topic. What I didn't like is the ridicule. Retail traders take for granted the amount of info available and prop guys like you decide to give back. We could be respectful and agree to disagree
amazing. love the way you review your trade. Really appreciate that you using notes, because you do not want to waste anyone else time and you are prepared. Thanks for your time and knowledge you are sharing with us👍
Thank you for the great upload. You have no idea how much of an impact you have made on my trading journey, I would not be in the spot I am without you and smb’s videos
Keep up the good work Lance. We are here to study hard and listen. Remember 90% of us want to learn and are quiet. 10% are loud and for no reason other than complaining. Go on Lance go
It's great you flip haters and idiots into a positive explanation of what's what in this game, and give some advice to those working on their edge with your great help and hard love. You are so truly human! 🤜🤛
In your talk about Luukas backtesting and that this setup has a neg EV, IMO this is due to that most ppl are looking for absolutes, I have done so myself going through a lot of frustrations not recognizing that trading is mostly a skill. Great video lance thank you!
Really liked the part on understanding the volume on the 1 Y : 1D chart! This is something that I do, however, a great reminder going into this upcoming trading week to stay fresh on and keep in mind! 📈
amazing explanation on backtesting with nuances, completely agree. also love your take on intraday consolidations as i have been focusing on those trades recently thank you!
Hey Lance, thanks for taking the time to run through this. I don't touch social media so didn't hear about any fuss. I went long in the premkt off VWAP at around $11 on tiny size, made $1/share or so and moved on, lol.🤭
Great video. Too many have strong opinions of what should and should not be. Doing the work and burning your edge into your brain to be able to act with confidence is key.
Thank yo so much for taking the time to recap this stock! What you're doing is super important and you're helping so many people, including myself, become better traders.
I love you man, I aim to be exactly like you, I love many parts of your trading style. I've also made quite a few videos about you in Bulgarian in my youtube channel, there is so much one can learn from you and it's free lol. One of my videos about you is named "The fastest trader in the world"| and I put a quote from you when you were talking about being fast in trades when you were on your yacht for traders 4 a cause. You said something like that you consider one of your edges to be VERY fast and to process information REALLY fast and that in many cases you are the first volume on the market when there are important news. There are some situations where I'm the first volume in the market and damn does it feel good. I just love you, I really appreciate people like you that share their extensive knowledge and experience. Maybe even one day I can interview you with some questions ! Greetings and love from Bulgaria and keep doing what you are doing. I also loved your tweet.
Lance is absolutely right.. People that base their edge on back-testing are severely handicapped when it comes to big opportunities in the present. There's no accurate software or system which can cover situational awareness which is a huge edge in itself; knowing when microcap late-day/AH rips are in play, float/micro cap variables, hot themes/trends/catalysts, short interest, how long have shorts been confident.. These points all contribute to having a huge edge especially in day trading and cannot precisely be backtested.. This is why it's best to forward test small and make adjustments which is what Mark Douglas recommends
dont let these trolls get to you btw, its not even worth your attention, you provide so much value for the trading community and SMB, we are grateful for you putting these out.
Thx Yanni! Sadly, Internet enables lots of misinfo to spread and sometimes you gotta set record straight! (Was news to me that shortbear and I were in a feud, but Twitter said so???? Lolz)
I was initially perplexed to see that this created controversy at all. In my mind, breakout criteria have been well-established and breakouts that look just like this have worked for the last 100 years and will continue to work for the next 100. Then when you add in all the other variables you mentioned it makes it even better. I think where a lot of short-biased traders lost you is in the predictability aspect. In their minds it seems that this is a random black-swan type event that isn't the norm and wasn't predictable. But if they just look at the setup and understand the breakout criteria they would know that it WAS predictable. In fact, the only thing I was thinking all day when I was watching it consolidate was "Wow, this consolidation is great. If it breaks HOD, it could really take off." Unfortunately, I was in the bathroom when it ripped and I didn't chase it. But I understand WHY it worked. I still studied it in detail that very evening for good measure.
For those interested, you can quantify a consolidation quality using 1) number of hours of consolidation, 2) above/under VWAP, 3) Bollinger Band width in relation to ATR (on a lower timeframe). In general, the longer and tighter the consolidation, the better. The consolidation on VVOS was relatively tight and the Bollinger Bands came under 2.5 ATR on the 2m timeframe. It also consolidated over 3 hours above VWAP, not giving shorts any relief. Last, you can see ALL dips get immediately rebid (see that upside reversal candle right before the breakout. That's a last call for shorts to get out before the break).
Thank you very much for this in depth insight into your thought process. I have to admit, that this play wasn't on my radar, but after seeing the chart and especially seeing this long, tight consolidation with this clear hold above VWAP I was thinking of 'Big Dog consolidation' as they put it at SMB and I'm currently wondering whether this is a fair way to put it in strategy terms or If I'm missing out on sth. why this shouldn't be considered a Big Dog consolidation (e.g. due to the fact that its low float). Thanks again for this great dissection of this Ticker and all the best from Germany 🙂
thank you! Hope you cover DISH next, its primed for a massive run and is extremely undervalued and way over shorted just like GameStop was back in 2021!
I caught the move in the pre-market between 10.23 and 10.71 but I got out at 13.18. My question is about the consolidation. Let's say you got in at 15.10. Now your up for the whole consolidation. Do you use a 'shot clock' to get out? Do you stay in until EOD? What is the most prudent handling of that?
How to connect with you , nate and Lucas more. On a passionate journey right now looking for the best tools to equip myself and people to surround myself, I like your style and ur mind get at me please 🙏
Thanks Lance, good video. I guess people don't like someone telling them they have to improve... But no need to address them, just keep doing you and helping hundreds of traders out there. 1 am, I can see a bad score sleeping tonight😂
The real reason none of them is wrong is that the market is a chaotic system and nobody can explain or predict it. You can develop systems that work and two systems can be both consistently profitable and provide opposite points of view in many circumstances.
My man, don’t take this personally. The thing is you already a public figure! No matter you said, there will be opinion. All you need is thinking in bigger picture 🎉
This is the big problem though… you and Lukas are both citing data that conflicts with each other… so either the data is just based off anecdotes and therefore not real data, or somebody just made it up!! He says 90% of the time you lose on this. And you say the opposite and that it’s an A+ trade… stats only go so far in making a decision. And they shouldn’t even be depended on if the stats are flawed… just like in poker, there’s stats to make the right call but there’s the other nuances you were talking about that make for a better decision… and then there’s luck. Him saying 90% of the time you lose on this trade, is just wrong. Strong stocks that consolidate at highs with all the other data points you mentioned (qullamagie too) tend to go higher… he made up some shit . I agree with you btw… I think he’s missing important data points that aren’t based off % up or down and based on numbers
Lance, honestly speaking, the last minutes of the video have been painful. Those who make money in the market do know that you are an outstanding trader, speaker and teacher. Why the hell do you need to make comparisons or explain why people have naturally different views about the same subject? Please do not take this not as a personal attack or a critic opinion because I am a huge fan of your work. Last point: please do keep tweeting and posting content on UA-cam.
Ty for the comment! As part of teaching, I think it’s important for others to understand how it’s possible for there to be different views. Not everyone is as open-minded or as cognitively able to process how that is possible. So yes, much of my audience gets it. But some do not and it is important to help them achieve better understanding as well and to do it in a way that ideally doesn’t demean or offend :)
The hard truth is that the average trade doesn't exist. Today is not yesterday. Financial data is among the worst data for averaging. Averages from backtesting without the sort of nuance outlined in this video produces low resolution results. Trading based upon EV calculated from low resolution backtesting results is suboptimal. Macro-level backtesting has its place; it will never tell the full story. Each ticker is its own ticker with its own unique set of variables. One can ignore a unique set of variables at their own peril.
LANCE! Stop apologizing and in any way shape content in response to the vocal minority. 99%< of people will be happy for any educational content you put out. 1%> will find fault with anything you say. Maybe due to jealousy or they just has a bad day. But mind tends to veer towards the negative. Focus on the ppl who get it, not the ones who don't.
I love this video Lance, Thx man for sharing the deets! Ooooooo and , That hat looks like BtheTrader hat ;) and if it's not. It will always be in my eyes now :)
Thanks for providing such valuable information for free. Like, thank you a ton. Maybe you don't even realize how helpful this is. I'm really grateful. 🙏
You are 100% right Lance, this is how stocks have moved for the past 100 years. If you put in the work and really go back to see how stocks have made big moves you will find that they move in a stair step direction. Big move, consolidate, then breakout. Our job is to catch the next leg up. People love to make trading complex, this stuff is so elementary if you put in the work folks!! Thank you Lance for reinforcing
Couldn’t agree more! Ty!
Great re-cap -- thank you so much for being so explicit about what nuances you were thinking of - I'm at a stage where I'm really striving to add more nuance to my trades, and hearing you list off day 1 news, most volume ever, micro cap, low float, biotech, 1 premarket 3x leg, 1 leg mid morning, consolidation for the rest of the afternoon in the upper quartile (clean and tight), then the dip and rip into the break of HOD into a halt -- that will help me avoid anticipating and falling for the 9/10 that lukas mentioned don't work :). Great vid, liked!
Love to hear it, ty for watching!
Truly, thank you for taking time out of your life to put this together for the general public.
You’re very welcome! Ty for the kind words. Knowing it’s helping people is what keeps me going and doing it!
Thanks for sharing this insightful deep dive on $VVOS! Your candid approach to discussing the controversy and confusion surrounding the stock is refreshing. I appreciate your emphasis on studying and playbooking opportunities like these, underlining the importance of being well-prepared in the trading game. Your analysis of the historical price movement, volume increase, and the cautious approach on day one of a news catalyst adds valuable nuance to the discussion. The breakdown of intraday movement and the emphasis on staying with the trend, especially above VWAP, resonates well with my own trading principles. Your acknowledgment of different perspectives and the need for individual trading styles is spot on. Thanks for the clarity and the emphasis on continuous improvement - it's evident you're fostering a thoughtful and informed trading community. Looking forward to more deep dives like these!
Thank you for that reply! Glad you liked it and found Value :)
Thank you Lance for making this video. We very much appreciate all the work you put in🙏
My pleasure!
Excellent video Lance. Understood your thought process and learnt a lot and you are right. With proper scanners it can be an A+ setup. However, I liked the statistical data presented by Lukas and may be a bit biased since I am a systematic trader and my preference is stats. However, I feel truly blessed that both you and Lukas and even Nate shared great knowledge on the topic. What I didn't like is the ridicule. Retail traders take for granted the amount of info available and prop guys like you decide to give back. We could be respectful and agree to disagree
Agreed! Many views, no right answer. Respect the open-mindedness from you, thx for watching 🤜🤛
amazing. love the way you review your trade. Really appreciate that you using notes, because you do not want to waste anyone else time and you are prepared. Thanks for your time and knowledge you are sharing with us👍
Thank you for the great upload. You have no idea how much of an impact you have made on my trading journey, I would not be in the spot I am without you and smb’s videos
Love hearing that, ty for sharing!
Keep up the good work Lance. We are here to study hard and listen. Remember 90% of us want to learn and are quiet. 10% are loud and for no reason other than complaining. Go on Lance go
Very lucky to have you share your knowledge on UA-cam appreciate all your videos Lance they always help 👍
I appreciate that!
Thank you Lance, appreciate you taking the time and doing this. learned a lot from the video.
Well said!!
If you follow a long system you will probably made money in this setup in my opinion.
It's great you flip haters and idiots into a positive explanation of what's what in this game, and give some advice to those working on their edge with your great help and hard love. You are so truly human! 🤜🤛
Ty!
Good shit Lance! Good job posting this info and I'll keep learning.
In your talk about Luukas backtesting and that this setup has a neg EV, IMO this is due to that most ppl are looking for absolutes, I have done so myself going through a lot of frustrations not recognizing that trading is mostly a skill. Great video lance thank you!
Really liked the part on understanding the volume on the 1 Y : 1D chart! This is something that I do, however, a great reminder going into this upcoming trading week to stay fresh on and keep in mind! 📈
Glad it was helpful!
Love this videos please don’t stop we need more material
amazing explanation on backtesting with nuances, completely agree. also love your take on intraday consolidations as i have been focusing on those trades recently thank you!
Glad you enjoyed it!
The outrage gives us hope that these patterns will continue to work for generations to come. Great job Lance!
lol truth!
Hey Lance, thanks for taking the time to run through this. I don't touch social media so didn't hear about any fuss. I went long in the premkt off VWAP at around $11 on tiny size, made $1/share or so and moved on, lol.🤭
Glad it was helpful!
Thanks Lance, Great stuff and some tough love. Hope everyone got some great take-aways.
Great clip, very educational, THANKS! PS: you dont owe anyone an explanation or apology, we are not in the emotions business. Keep it going matie!!
The that! Ty!
Thank you Lance for sharing your greatness!!
Very much appreciate all the time and effort you put into sharing information for free.
Have a great day.
My pleasure!
Great video. Too many have strong opinions of what should and should not be.
Doing the work and burning your edge into your brain to be able to act with confidence is key.
Couldn’t agree more!
More of this LANCE!! Merry Christmas
Thank yo so much for taking the time to recap this stock! What you're doing is super important and you're helping so many people, including myself, become better traders.
I appreciate that!
I love you man, I aim to be exactly like you, I love many parts of your trading style. I've also made quite a few videos about you in Bulgarian in my youtube channel, there is so much one can learn from you and it's free lol. One of my videos about you is named "The fastest trader in the world"| and I put a quote from you when you were talking about being fast in trades when you were on your yacht for traders 4 a cause. You said something like that you consider one of your edges to be VERY fast and to process information REALLY fast and that in many cases you are the first volume on the market when there are important news. There are some situations where I'm the first volume in the market and damn does it feel good. I just love you, I really appreciate people like you that share their extensive knowledge and experience. Maybe even one day I can interview you with some questions ! Greetings and love from Bulgaria and keep doing what you are doing. I also loved your tweet.
Indeed, speed was huge for me :) Ty for the kind words. I have faith you will become an even better YOU!
Lance is absolutely right.. People that base their edge on back-testing are severely handicapped when it comes to big opportunities in the present. There's no accurate software or system which can cover situational awareness which is a huge edge in itself; knowing when microcap late-day/AH rips are in play, float/micro cap variables, hot themes/trends/catalysts, short interest, how long have shorts been confident.. These points all contribute to having a huge edge especially in day trading and cannot precisely be backtested.. This is why it's best to forward test small and make adjustments which is what Mark Douglas recommends
I always appreciate your content
yoe ARE legend! thanks mate. even downunder we're watching the OneLB!
Legend! Love to hear it mate!
dont let these trolls get to you btw, its not even worth your attention, you provide so much value for the trading community and SMB, we are grateful for you putting these out.
Thx Yanni! Sadly, Internet enables lots of misinfo to spread and sometimes you gotta set record straight! (Was news to me that shortbear and I were in a feud, but Twitter said so???? Lolz)
I was initially perplexed to see that this created controversy at all. In my mind, breakout criteria have been well-established and breakouts that look just like this have worked for the last 100 years and will continue to work for the next 100. Then when you add in all the other variables you mentioned it makes it even better. I think where a lot of short-biased traders lost you is in the predictability aspect. In their minds it seems that this is a random black-swan type event that isn't the norm and wasn't predictable. But if they just look at the setup and understand the breakout criteria they would know that it WAS predictable. In fact, the only thing I was thinking all day when I was watching it consolidate was "Wow, this consolidation is great. If it breaks HOD, it could really take off." Unfortunately, I was in the bathroom when it ripped and I didn't chase it. But I understand WHY it worked. I still studied it in detail that very evening for good measure.
For those interested, you can quantify a consolidation quality using 1) number of hours of consolidation, 2) above/under VWAP, 3) Bollinger Band width in relation to ATR (on a lower timeframe). In general, the longer and tighter the consolidation, the better. The consolidation on VVOS was relatively tight and the Bollinger Bands came under 2.5 ATR on the 2m timeframe. It also consolidated over 3 hours above VWAP, not giving shorts any relief. Last, you can see ALL dips get immediately rebid (see that upside reversal candle right before the breakout. That's a last call for shorts to get out before the break).
Could not agree more. Great info provided by you as well. Ty!
Great video Lance. Thank you for the insight 🙏
My pleasure!
PEOPLES CHAMP 🏆!!!!
🤜🤛
Thank you very much for this in depth insight into your thought process. I have to admit, that this play wasn't on my radar, but after seeing the chart and especially seeing this long, tight consolidation with this clear hold above VWAP I was thinking of 'Big Dog consolidation' as they put it at SMB and I'm currently wondering whether this is a fair way to put it in strategy terms or If I'm missing out on sth. why this shouldn't be considered a Big Dog consolidation (e.g. due to the fact that its low float).
Thanks again for this great dissection of this Ticker and all the best from Germany 🙂
Love to hear it, welcome!
thank you! Hope you cover DISH next, its primed for a massive run and is extremely undervalued and way over shorted just like GameStop was back in 2021!
Love the video, some good ideas for me to test statistically.
Great video Lance.
Thanks!
Thanks Lance. Could anyone see a breakout or another deep dive tomorrow trade day?
THE GOAT LANCE
Thank you for the videos!
Diggin the hair-do. You da man. Bag the haters.
I caught the move in the pre-market between 10.23 and 10.71 but I got out at 13.18. My question is about the consolidation. Let's say you got in at 15.10. Now your up for the whole consolidation. Do you use a 'shot clock' to get out? Do you stay in until EOD? What is the most prudent handling of that?
as always on fire 🔥🔥🔥
How to connect with you , nate and Lucas more. On a passionate journey right now looking for the best tools to equip myself and people to surround myself, I like your style and ur mind get at me please 🙏
I wish Lance would talk about his R value. Like in his trades how many R value is he risking relative to his average R value.
Thank you!
Thanks Lance, good video.
I guess people don't like someone telling them they have to improve... But no need to address them, just keep doing you and helping hundreds of traders out there.
1 am, I can see a bad score sleeping tonight😂
lol! Thx jero! And I’m not on east coast, my laptop is set to ET so that my charts display properly. I’m in Cali many hours behind. Hahaha
Thank you Lance!
This video shows you why Lance B is an elite trader.
Ty!
The real reason none of them is wrong is that the market is a chaotic system and nobody can explain or predict it. You can develop systems that work and two systems can be both consistently profitable and provide opposite points of view in many circumstances.
My man, don’t take this personally. The thing is you already a public figure! No matter you said, there will be opinion. All you need is thinking in bigger picture 🎉
This is the big problem though… you and Lukas are both citing data that conflicts with each other… so either the data is just based off anecdotes and therefore not real data, or somebody just made it up!! He says 90% of the time you lose on this. And you say the opposite and that it’s an A+ trade… stats only go so far in making a decision. And they shouldn’t even be depended on if the stats are flawed… just like in poker, there’s stats to make the right call but there’s the other nuances you were talking about that make for a better decision… and then there’s luck.
Him saying 90% of the time you lose on this trade, is just wrong. Strong stocks that consolidate at highs with all the other data points you mentioned (qullamagie too) tend to go higher… he made up some shit .
I agree with you btw… I think he’s missing important data points that aren’t based off % up or down and based on numbers
It depends your system! He is right for him and his strengths.
I don't get why everyone got their knickers in a knot.
Theres a million ways to trade one ticker.
If it's in your playbook it's in your playbook.
Truth!
Lance, honestly speaking, the last minutes of the video have been painful. Those who make money in the market do know that you are an outstanding trader, speaker and teacher. Why the hell do you need to make comparisons or explain why people have naturally different views about the same subject? Please do not take this not as a personal attack or a critic opinion because I am a huge fan of your work. Last point: please do keep tweeting and posting content on UA-cam.
Ty for the comment! As part of teaching, I think it’s important for others to understand how it’s possible for there to be different views. Not everyone is as open-minded or as cognitively able to process how that is possible. So yes, much of my audience gets it. But some do not and it is important to help them achieve better understanding as well and to do it in a way that ideally doesn’t demean or offend :)
"Holding in the upper quartile"--- multi-hour. I have seen so many videos of yours, I know for a fact this is very bullish sign!
The hard truth is that the average trade doesn't exist.
Today is not yesterday.
Financial data is among the worst data for averaging.
Averages from backtesting without the sort of nuance outlined in this video produces low resolution results.
Trading based upon EV calculated from low resolution backtesting results is suboptimal.
Macro-level backtesting has its place; it will never tell the full story.
Each ticker is its own ticker with its own unique set of variables.
One can ignore a unique set of variables at their own peril.
100% agreed, well said
LANCE! Stop apologizing and in any way shape content in response to the vocal minority.
99%< of people will be happy for any educational content you put out.
1%> will find fault with anything you say. Maybe due to jealousy or they just has a bad day.
But mind tends to veer towards the negative. Focus on the ppl who get it, not the ones who don't.
Truth, ty!
thank you Lance for sharing
Thanks for listening
Otswizzle