I thought I was losing it. Most of those examples I did not even see the three-bar play. Thanks for your time putting this together, some of us do enjoy the text slides. That is where the actual info is.
This is how trading education vids should be. some people can trade well but can not explain it well. Its good to see someone who is articulate enough and skilled enough to make trading video lessons properly. THANKS
@@pirkkomakinen7916 That is a tough question to answer because when you are day trading or short term trading, it's important to always pay attention to the average daily range. the average daily range will give you the actual range on which that instrument is trading on a daily basis.
@@egagunturvhalega928 Traders like Shanne (@shannemoody on telegram) use average daily range for setting percentage values for stop loss to take profits as well as determining distance to potential targets. I always recommend him to newbies.
This lecture was revelatory. Really showed me some critical blind spots that have been holding me back. Been watching trading education videos for months and no one else has really brought up average trading range.
Really liked the audience participation section. I guessed along and it really helped me. Also I love the abuse you throw out. It's great! Really helps keep me in check.
I seriously got worried on the test until you reviled the correct answers, thought i was missing something, great lecture and again thank you for all you do.
You really need to watch these video's a couple of times to get the concepts. The examples of BAD 3BP are really helpful. "Look for a reason to NOT take the trade".
I always use ATR.. it's a part of my trading criteria. The beta of the stock is also important to me. As a matter of a fact I watched a bunch of fomo short sellers short PINS from 27 down to 18 ish.. I bought it at 19 when I seen the spike in volume.. took it back up to 20.50 on 100 shares.. They thought it would tank forever.. I enjoyed the squeeze as they panicked. People shorted at the very bottom were screwed as buyers came in. Lvl 2 looked strong too. Thanks for sharing this for guys who didnt know about it!! Awesome lecture!!
GREAT honest approach to the 3 Bar,,,I have a problem with the math so I downloaded and installed the ATR indicator. Placed it on the chart and use the chart order feature.
Average trading range is a tight topic and one not to be overlooked for day traders. Man for all the solid gold passed off in this lecture the comments are filled with s*#t. Great job Jared I am going to be watching this more than once.
53:22 This is the one that closely resembled the SES 5min 3-bar play, except the 3rd bar was breaking it's premarket and current morning resistance. Depending on how fast you put your order in, you would of got stopped out as the 3rd bar had a bottoming tail about 40cents below the low of bar #2.
Great help, after the atr definition I felt almost all were 1 or even 0, but I did get confused on some if you were asking to keep as a short or long, because some I saw were pretty good for a possible reversal. Thanks for the video, learning so much even though I have. Small account. 👍🏻
I love how self aware Jared is about charts, chat, and the comments section. -Hey mister, give me da 5 bar plebe charts mister I need to make $200 become many much more millis so I can get ghini's and lambos and be baller dollar Billz yo. At least 50% of the best content within Live Traders videos I've watched are the expressions that takes place in the lower left hand corner of his shared screen.
Great lesson. Thank you. Would love if you could also add to your catalog some good 3bp examples in the afternoon or some other time that's not at market open - unless your recommendation is to best look for these trades at the open - I know the same principles would apply, but would be good to be able to visualize these as well. Thanks again.
I have them in the PTS course...they happen all day long, in ALL timeframes...Keep in mind most stocks put in about 65-70% of their entire days range in the first 90 minutes...
Thanks Jared. Going through the videos now and these are very helpful for a beginner trader such as myself. Curious on what you use to find additional opportunities during the day or do you continue to use $ gainers & $ losers intra-day, say like at noon EST?
So if I am doing a swing trade on the daily do I use the weekly chart to find the average trading range? This is all great for day trading but I feel it contradicts the swing traders side. If this is the case we should be looking for gapping stocks on a weekly chart. How do you scan for a gap in a weekly chart... Your help would be great Jared! I know you're the best at what you do.
Huge like. I can't believe I've overlooked such a simple concept in my trading! every time I watch one of Jared's videos I look back on my previous trades and facepalm because of how stupid the trades were lol.
Jared, 47:48, If the 1st bar is a wide range bar, doesn't that mean the stock is over it's average trading range? It's seems like these 2 rules contradict each other.
Second half of your video, now I got confused, after understanding the ATR, new concept to me, you are saying these are good / bad 3bar, but they mostly seem to have a wider ATR bar and its ok? What is the difference , or how do I see, the wider 1st bar is ok vs. the wider 1st bar is to much on the ATR and it would be exhausted? Hope that makes sense....Thanks
Wide first bar is OK, as long as it's not exceeding or 'almost' exceeding it's ATR...With a good gap we expect a stock to exceed ATR...but it's still risking taking them when they do exceed ATR. Cheers!
Great video, but I guess I need to know more than my guess as to what a level 1 and level 2 gaps are in your definitions, to apply. Thank you so much, this still helps a lot! I can’t tell you how many trades I lost money on in “gap and trap” opening plays. I have given up on opening gaps, unless news and tons of volume still coming in. Appreciate this!
Thank you @Jared, you have yet again raised my confidence in trading. I answered all 1's.. (referencing from your 3 bar play criteria vid, plus this ATR). Seeing Forex has recently been like some people call it "The Kardashians", I've switch to trading commodities, focusing on gold, studying and paper trading on stocks.
Just wow! this is a huge missing link in lots of peoples trading plans, mine included. How did I never think about something so simple? I know I’m super new to this but dang. Thanks man. Stupid part is that it’s common sense that slips past us if you really think about it. Btw. You teach the way I need to be taught. Brutally honest, blunt, whatever. Shit needs to get said clearly as you put it. Thanks for not having a safe space. It’s like a therapy sesh that pays you back.. if you aren’t a wus. 🤣
Jared I have a question on the unp slide where you say it's a bad stock to trade because of its reached trading range.. I understand the concept however in my mind I see a big drop bigger than the atr but atr is a high and low so on a drop wouldn't you expect it to raise because you actually lowering the high- low range in doing this. Now if you were betting on it dropping than I'd understand. If I'm thinking of this wrong please let me know just an observation I made. Been watching all of your videos for the last week and you've helped a ton.. thank you for that
Hey, I was wondering that since for new traders you give a guideline of risking 10 or 20 dollars per trade, how do we manage the tax of going in and out of trades as it would seem to have a bigger effect on smaller accounts than bigger accounts
I think the reason why UPS didn't follow through on the 5min breakdown is because they released strong earnings...the dip was bought. It also landed on the 100SMA around 112
Wow. Another stellar video and glad to have watched it. So important. I will be paying attention a lot more (for the few moments it takes) at the ATR every single trade. Jared thanks again. Jezus!
If a stock gaps by more than 10% Is it wise to stay away from taking breakout trades on them? you mentioned it in the video slightly so I'm curious to the reasoning for it?Is it because usually stocks that gap by more than 10% technically used up most of their fuel during Pre-market and odds of it continuing are reduced as it already made its big move?
No. It really depends on the price of the stock, and it HIGHLY depends on where it's gapping from. A 1% could be too much if it's already up 8 days in a row...See my point?
It depends on your management...That's a serious answer. If you want 1:1 reward to risk then 60-70%. If you want 3:1 reward to risk, 35-45%. I prefer 2:1 reward to risk and a 45-55% BA. Cheers!
Dude, your videos are BITCHIN! I could get all fanboy gushy here but suffice to say I like the harshness, the seriousness, the frankness and style. It presents the reality of the trade game when money is on the table. No room for rookie mistakes.
Ever since this video, I find it hard to find 3BP’s. Because most of them reach their ATR in the opening 30 mins that by the time the 3BP forms it becomes a low probability trade
No, We do not long nor short carelessly if it exceeds its ATR and with close to resistance or support of the daily and the time frames that we are trading. High risk trades even if it meets all the criteria. We look for reasons not to take a trade.
Hello. Alittle off topic: if you position yourself for a breakout light sharesize and hit the bid+2 with triple sharesize as it breaks is there a downside to this? Or can you scalp the breakout quite quickly with the added size
The downside is if you get filled LATE, now you triple shares on a terrible fill...Good breakouts RIP FAST. 2nd, WHAT IF it immediately goes against you, AND is spready...now you have triple the shares. Stop trying to get rich quick and do things the RIGHT WAY. Singles and doubles are all you need...Be smart and use good money management...
Live Traders if you have a limit order with specified price it would fill partial and slippage would not be detrimental like a mkt order ... right ? Even if your avg px is higher than anticipated, your stoploss could be set at avg px offset by acceptable risk(correct money management)it’s not get rich quick scheme it’s getting the most out of a breakout by scaling into it as it breaks. Yes it moves fast but it moves fast because there’s a lot of transactions driving price up(attempt to be a part of those transactions) or liquidity void gets triggered etc, either way there’s shares that need to drive the price up. And you say “what if the price goes against you” well that’s the stock market ups and downs, that’s why we have stop losses? Mathematically breakouts don’t turn around and say hey nevermind I changed my mind. The larger timeframe candles form then maybe price pulls back. It could happen sure, but avg px stoploss to breakeven or offset by acceptable risk management would have you in a good spot to scale in (if you get filled, would it not?) I do not understand how a limit order can slip if you have a fixed static price? Direct access, good internet and a broker that actually fills you at direct access (many don’t)
@@mikeg8343 I could go round and round with you...but I just don't have the time. Trust me when I say STOP MARKET ORDERS are what you should be using for protective stop losses and STOP LIMIT ORDERS for ENTRIES. I've been doing this a LONG time on Wall Street and for myself...If you think you know better, then by all means do what you think is best...as long as you're doing it with YOUR money and not MINE...then it's all good. I'm just trying to keep you out of trouble...Even my kids argue with me...usually it's not until they get to 25-35 yrs old that they finally 'get it'...Dad wasn't wrong all those years ago...Just like now...Cheers!
Live Traders that sounds great, there’s a reason I’m asking you, because you have this experience. But you’re very good at being condescending and avoiding subjects so since you bring your children into this let me give you some parenting/communication advice to shorten long arguments/debates. Did I come here to say I know more than you? No. Did I say you’re wrong? No. Did I bring up specific mechanical aspects of trading only experience teaches, yeah! And you’ve been doing this for years and been on wall street yadayada. I respect your knowledge and experience but you avoided all of my points made above! I am not trying to GRQ, I’m trying to understand and you told me what you think I should do but avoided my questions which are important for me to learn. Cheers!
@@mikeg8343 That is incorrect, I SPECIFICALLY told you WHY you don't want to use a stop limit as a stop loss and you simply didn't like the answer. Period. Don't get it twisted. Do what you think is best, you're gonna do it your way anyway, just like my kids until they learn the hard way. CHEERS!!
Hi Jarred, before taking a trade, do you require any particular range (maybe 0.50 or more) between entry price and resistance/support? I've had a few trades where price reversed after entering with like a 0.07 pivot and 0.20 before resistance/support. Many thanks for your lessons.
Just want to be clear on something.. in your examples charts, on the daily with the igniting bar to the right.. is that bar in the premarket? or after the open?
@Live Traders - Again good video..... If your team is making these kinds of bad trades then they should check themselves and stop trading for a little while. This sounds like a nightmare. Kinda glad I am not using real money yet till I know what I am looking at is garbage or is good. Because one day.... There go I....... And I don't wanna be one of those guys that are on here goin oh shit oh shit freaking out over a bad trade.
Everyone makes mistakes...you will too, BUT, you really need to be using REAL money after 2-4 weeks. Once you've learned your platform, go to VERY small risk ($5-$10 per trade) with real money. Why? Fills are different and emotions are different. If you do it properly and keep the risk small you won't get hurt...It's part of learning. Cheers!
Enjoyed the content of the lesson, learning why my trade this week failed, plus I didn't get out of the trade because I had set a stop and it cost me $14 instead of $1 (FIT)because I wasn't concerned about the trade because of the stop. Not too smart. Kind of foolish actually. Two lessons learned.
Making mistakes and learning from them is part of the growth process...we all do it. The faster we make the necessary adjustments, the faster we move forward...
Thank you. Appreciate the lesson on ATR. Just one question-- at the 49:03 point in the video, you said this one was really good. But the wide igniting bar seemed to exceed ATR. No?
So you have the criteria that need to be matched. Then this is confirmed by the 3 or 4 BP. Do you weight the catalyst strongly or just TA. Hype and FOMO from other traders may negate all the below. Below Support Tradable VOID below a wide range igniting bar Volume spike on bar number 1 Narrow range resting bar, is in the lower 50% of the range Near a whole number ATR not exceeded Not close to S/R on the daily or 5 minute charts
If I paper trade (Simulation) and find myself doing well, would that be enough to switch to go live and invest while risking 2 or more percent or should I live trade with no more than 1% risk, before I risk more regardless of paper trading? In essence, does paper trading have benefit in practicing my day trading plan or is practicing live with small amounts a must? I appreciate the videos a lot and how much you stress all of the necessary point like money management and planning. I look forward to hearing your response, thank you.
Do NOT use 1% risk when you are new. That's INSANE. You should NEVER risk more than $5 to $10 per trade when new...and you should get off of the sim account as soon as you understand how to use your platform. Real money = real emotions and real fills. cheers!
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does the daily trading range include the premarket as well?
I thought I was losing it. Most of those examples I did not even see the three-bar play. Thanks for your time putting this together, some of us do enjoy the text slides. That is where the actual info is.
This is how trading education vids should be. some people can trade well but can not explain it well. Its good to see someone who is articulate enough and skilled enough to make trading video lessons properly. THANKS
Nice Tracing👍.
Never buy a stock trading below the 200-day Moving Average
Never Buy a stock with a MACD below 0
Never buy stock with an RSI below 40
Whatever the market cap doesn't matter. The above rules save you from bad stocks 90% of the time.
I’m adopting this strategy lately. Negative overreaction on earnings is an opportunity in my opinion. What criteria do you use to judge a winner?
@@pirkkomakinen7916 That is a tough question to answer because when you are day trading or short term trading, it's important to always pay attention to the average daily range. the average daily range will give you the actual range on which that instrument is trading on a daily basis.
@@gregmichalowski261 How do you use the average trading range when trading forex?
@@egagunturvhalega928 Traders like Shanne (@shannemoody on telegram) use average daily range for setting percentage values for stop loss to take profits as well as determining distance to potential targets. I always recommend him to newbies.
The one and only person in the world to talk about the truth of trading financial market. Thank you so much for the lecture sir. Your awesome!
Thanks, I really appreciate that! Cheers!
This lecture was revelatory. Really showed me some critical blind spots that have been holding me back. Been watching trading education videos for months and no one else has really brought up average trading range.
Thanks for your lecture. Monday to Friday trading. Weekends learning
Glad I could help! Keep Studying and use good money management!
Man, the clearest teacher on the net. Thanks
Thanks...Glad you enjoyed it!
Really liked the audience participation section. I guessed along and it really helped me. Also I love the abuse you throw out. It's great! Really helps keep me in check.
Fantastic content, your videos are truly helping me become a better trader day by day. Thanks, Jared.
this one was on the open house, great to have it online to re-watch it, Thanks for the content Jared !
Thanks, glad you enjoyed it!
Then again, some say there are no coincidences. Page 8. Great lecture, 3X replay worthy.
Repetition is the mother of skill. Thx Jared
Makes so much sense and yet it never crossed my mind, wish I saw this sooner but glad I did!
I seriously got worried on the test until you reviled the correct answers, thought i was missing something, great lecture and again thank you for all you do.
You really need to watch these video's a couple of times to get the concepts. The examples of BAD 3BP are really helpful. "Look for a reason to NOT take the trade".
I love the flowery language! It gives me flashbacks of the army!
Average Trading Range is Key! Following Jared has improved my trading loads! Learn from this guy!
Scalpmaster. Another entertaining and, well planned lecture--with plenty of discipline.Thank you sir.
Thanks!!!
This man belongs in Heaven! THANK YOUUUU !!! for all the 9 people who disliked just know hating aint good for the heart!
You're welcome, Glad you liked it !
You are a great teacher Jared, and the time you're taking to assist us newbies is very cool. Thank you
Thanks, appreciate it!
Another great lecture Jared and LT team... All those pictures are fixed on my mind from now and go on. Thanks so much.
This may be the greatest lesson in trading i have ever seen. I think i am finally going to become profitable
Great video as always. I wish you discussed each of the 13 bad trades in detail.
These info abt ATR is more useful in every pattern and in any trade we take not only in 3 bar play in my opinion .......Thanks Jared u r a rock star
Very much appreciated! As a new trader, I don’t think about this factor enough
I always use ATR.. it's a part of my trading criteria. The beta of the stock is also important to me. As a matter of a fact I watched a bunch of fomo short sellers short PINS from 27 down to 18 ish.. I bought it at 19 when I seen the spike in volume.. took it back up to 20.50 on 100 shares.. They thought it would tank forever.. I enjoyed the squeeze as they panicked. People shorted at the very bottom were screwed as buyers came in. Lvl 2 looked strong too. Thanks for sharing this for guys who didnt know about it!! Awesome lecture!!
Thanks Appreciate it!
You sir are a great teacher. No need to rewind ever. I wish I could afford the course..
Thanks, I appreciate it!
GREAT honest approach to the 3 Bar,,,I have a problem with the math so I downloaded and installed the ATR indicator. Placed it on the chart and use the chart order feature.
Average trading range is a tight topic and one not to be overlooked for day traders. Man for all the solid gold passed off in this lecture the comments are filled with s*#t. Great job Jared I am going to be watching this more than once.
LOL...Thanks!! I appreciate it!
53:22 This is the one that closely resembled the SES 5min 3-bar play, except the 3rd bar was breaking it's premarket and current morning resistance. Depending on how fast you put your order in, you would of got stopped out as the 3rd bar had a bottoming tail about 40cents below the low of bar #2.
I'll have to go back and watch it...keep in mind, HOW a bar forms is important...if might have flashed down BEFORE triggering the entry. Cheers!
Jump right back in all things being equal
Jared - You are the man. When I study charts and analyze my trades I always hear your voice in my head. LOL
LOL, thanks. Hopefully it scares you into doing the right thing.
WOW I love this information Jared you are definitely one of the best professionals to help out when learning stocks
Great video as always Jared. I love the topic of ATR especially since we had to skip over it during the mentorship because of time reasons.
Thanks Bryce...Nice meeting you!
Thanks for your time to teach us Jared.
Thank you!
Great help, after the atr definition I felt almost all were 1 or even 0, but I did get confused on some if you were asking to keep as a short or long, because some I saw were pretty good for a possible reversal. Thanks for the video, learning so much even though I have. Small account. 👍🏻
Great, glad you enjoyed it!
I love how self aware Jared is about charts, chat, and the comments section. -Hey mister, give me da 5 bar plebe charts mister I need to make $200 become many much more millis so I can get ghini's and lambos and be baller dollar Billz yo. At least 50% of the best content within Live Traders videos I've watched are the expressions that takes place in the lower left hand corner of his shared screen.
Great lesson. Thank you. Would love if you could also add to your catalog some good 3bp examples in the afternoon or some other time that's not at market open - unless your recommendation is to best look for these trades at the open - I know the same principles would apply, but would be good to be able to visualize these as well. Thanks again.
Exactly!
I have them in the PTS course...they happen all day long, in ALL timeframes...Keep in mind most stocks put in about 65-70% of their entire days range in the first 90 minutes...
@@Live.Traders make sense..thank you
Thanks Jared. Going through the videos now and these are very helpful for a beginner trader such as myself. Curious on what you use to find additional opportunities during the day or do you continue to use $ gainers & $ losers intra-day, say like at noon EST?
So if I am doing a swing trade on the daily do I use the weekly chart to find the average trading range? This is all great for day trading but I feel it contradicts the swing traders side. If this is the case we should be looking for gapping stocks on a weekly chart. How do you scan for a gap in a weekly chart... Your help would be great Jared! I know you're the best at what you do.
Huge like. I can't believe I've overlooked such a simple concept in my trading! every time I watch one of Jared's videos I look back on my previous trades and facepalm because of how stupid the trades were lol.
Thank you so much, Jared. A lot of interesting theory to study.
Awesome glad you enjoyed it.
Jared, 47:48, If the 1st bar is a wide range bar, doesn't that mean the stock is over it's average trading range? It's seems like these 2 rules contradict each other.
Great video. Wish they had day trading classes in college as a course. Love the slides and explanations too!!!
Thanks...They definitely need basic finance in HS and College...most people are lost...
10
Great video inspiring and awesome!
Second half of your video, now I got confused, after understanding the ATR, new concept to me, you are saying these are good / bad 3bar, but they mostly seem to have a wider ATR bar and its ok? What is the difference , or how do I see, the wider 1st bar is ok vs. the wider 1st bar is to much on the ATR and it would be exhausted? Hope that makes sense....Thanks
Wide first bar is OK, as long as it's not exceeding or 'almost' exceeding it's ATR...With a good gap we expect a stock to exceed ATR...but it's still risking taking them when they do exceed ATR. Cheers!
Great video, but I guess I need to know more than my guess as to what a level 1 and level 2 gaps are in your definitions, to apply. Thank you so much, this still helps a lot! I can’t tell you how many trades I lost money on in “gap and trap” opening plays. I have given up on opening gaps, unless news and tons of volume still coming in. Appreciate this!
Thanks Jared. Appreciate this youtube page.
Thank you!
Thank you @Jared, you have yet again raised my confidence in trading. I answered all 1's.. (referencing from your 3 bar play criteria vid, plus this ATR). Seeing Forex has recently been like some people call it "The Kardashians", I've switch to trading commodities, focusing on gold, studying and paper trading on stocks.
Awesome, glad you enjoyed it!
Just wow! this is a huge missing link in lots of peoples trading plans, mine included. How did I never think about something so simple? I know I’m super new to this but dang. Thanks man. Stupid part is that it’s common sense that slips past us if you really think about it. Btw. You teach the way I need to be taught. Brutally honest, blunt, whatever. Shit needs to get said clearly as you put it. Thanks for not having a safe space. It’s like a therapy sesh that pays you back.. if you aren’t a wus. 🤣
Thanks Lincoln, I genuinely appreciate the comment!
Jared I have a question on the unp slide where you say it's a bad stock to trade because of its reached trading range.. I understand the concept however in my mind I see a big drop bigger than the atr but atr is a high and low so on a drop wouldn't you expect it to raise because you actually lowering the high- low range in doing this. Now if you were betting on it dropping than I'd understand. If I'm thinking of this wrong please let me know just an observation I made. Been watching all of your videos for the last week and you've helped a ton.. thank you for that
how is that stock at 49:09 not too extended?
Jared you are the man thanks for another amazing video
Thanks appreciate it!
@@christopherhitchcock8089 Thanks!
Great presentation... concise and useful!
Appreciate it!
Hey, I was wondering that since for new traders you give a guideline of risking 10 or 20 dollars per trade, how do we manage the tax of going in and out of trades as it would seem to have a bigger effect on smaller accounts than bigger accounts
I think the reason why UPS didn't follow through on the 5min breakdown is because they released strong earnings...the dip was bought. It also landed on the 100SMA around 112
Maybe...maybe not. Good earnings DO NOT Mean higher prices...and vice versa...Cheers!
What are good websites or apps to day trade with?
Brokers? Tradestation, Fidelity, TOS, IB, Lightspeed. Good websites: www.livetraders.com of course.
What is the interval on the radar screen? Daily?
The radar screen doesn't have a time frame...it's just the CURRENT price of the stock.
Wow. Another stellar video and glad to have watched it. So important. I will be paying attention a lot more (for the few moments it takes) at the ATR every single trade. Jared thanks again. Jezus!
If a stock gaps by more than 10% Is it wise to stay away from taking breakout trades on them? you mentioned it in the video slightly so I'm curious to the reasoning for it?Is it because usually stocks that gap by more than 10% technically used up most of their fuel during Pre-market and odds of it continuing are reduced as it already made its big move?
No. It really depends on the price of the stock, and it HIGHLY depends on where it's gapping from. A 1% could be too much if it's already up 8 days in a row...See my point?
I save myself almost everyday by looking at ATR. I know it’s not your preferred metric but it’s way easier to check on the fly and it works.
Do you use ATR 9 periods on daily chart? Thanks
iiTzRiPeR
I use it on the daily chart. It’s trailing 14 days I think
I think it's a good idea! Well done!
32:57 I call that the failed 3 Bar Play Pattern F3BP with the TT's (selling pressure) to go short lol :)
Very knowledgeable and educational. ...video.. Thank you sir,
Love these classes. No bullshit.
Thank you so much!
How much is the ideal amount of money to do scalp trading?
Ideally over $25k. You can do it for $2k-$5k...but you said 'ideally.'
@@Live.Traders thank you!
What is the success rate of the 3 bar play
It depends on your management...That's a serious answer. If you want 1:1 reward to risk then 60-70%. If you want 3:1 reward to risk, 35-45%. I prefer 2:1 reward to risk and a 45-55% BA. Cheers!
Thanks for your sharing!
Appreciate your videos and approach. Sometimes it's hard to see all the details when you have more than 1 slide on your screen
Hi awesome videos as allways :) I wanted to ask you which type of Support and Resistance are the most powerfull for you, the daily, Weekly or Monthly?
Change "position" TOPS -EXCELLENT INSIDE, Sir !
Thanks, apprecaite it!
So is the main point here just that a 3-bar play should not be taken if it forms in the direction a stock has already been overextending towards?
That's 'one' of the points here.
Hey Jared, what do you use for the 2m thumbnail charts? Brokerage app or something else? Cheers brother
Dude, your videos are BITCHIN! I could get all fanboy gushy here but suffice to say I like the harshness, the seriousness, the frankness and style. It presents the reality of the trade game when money is on the table. No room for rookie mistakes.
Ever since this video, I find it hard to find 3BP’s. Because most of them reach their ATR in the opening 30 mins that by the time the 3BP forms it becomes a low probability trade
That can be true sometimes...but they happen all day, everyday....
great video. look to apply this method to my low float trading. makes sense. thank you
Thanks. Low float trading can be dangerous...be careful!
Haha. Dont get too frustrated but thats funny. You lay it out in black and white and people only see green. Great videos, I can see your passion.
Awesome J...
Thanks, Appreciate it!
Will there be an update to PTS book? Thinking about newer traders and PTS only has one mention of Avg. Daily Trading Range.
No, We do not long nor short carelessly if it exceeds its ATR and with close to resistance or support of the daily and the time frames that we are trading. High risk trades even if it meets all the criteria. We look for reasons not to take a trade.
Best videos ever must watch all serious trader!
Thanks, I appreciate that!
true
Hello. Alittle off topic: if you position yourself for a breakout light sharesize and hit the bid+2 with triple sharesize as it breaks is there a downside to this? Or can you scalp the breakout quite quickly with the added size
The downside is if you get filled LATE, now you triple shares on a terrible fill...Good breakouts RIP FAST. 2nd, WHAT IF it immediately goes against you, AND is spready...now you have triple the shares. Stop trying to get rich quick and do things the RIGHT WAY. Singles and doubles are all you need...Be smart and use good money management...
Live Traders if you have a limit order with specified price it would fill partial and slippage would not be detrimental like a mkt order ... right ? Even if your avg px is higher than anticipated, your stoploss could be set at avg px offset by acceptable risk(correct money management)it’s not get rich quick scheme it’s getting the most out of a breakout by scaling into it as it breaks. Yes it moves fast but it moves fast because there’s a lot of transactions driving price up(attempt to be a part of those transactions) or liquidity void gets triggered etc, either way there’s shares that need to drive the price up. And you say “what if the price goes against you” well that’s the stock market ups and downs, that’s why we have stop losses? Mathematically breakouts don’t turn around and say hey nevermind I changed my mind. The larger timeframe candles form then maybe price pulls back. It could happen sure, but avg px stoploss to breakeven or offset by acceptable risk management would have you in a good spot to scale in (if you get filled, would it not?) I do not understand how a limit order can slip if you have a fixed static price? Direct access, good internet and a broker that actually fills you at direct access (many don’t)
@@mikeg8343 I could go round and round with you...but I just don't have the time. Trust me when I say STOP MARKET ORDERS are what you should be using for protective stop losses and STOP LIMIT ORDERS for ENTRIES. I've been doing this a LONG time on Wall Street and for myself...If you think you know better, then by all means do what you think is best...as long as you're doing it with YOUR money and not MINE...then it's all good. I'm just trying to keep you out of trouble...Even my kids argue with me...usually it's not until they get to 25-35 yrs old that they finally 'get it'...Dad wasn't wrong all those years ago...Just like now...Cheers!
Live Traders that sounds great, there’s a reason I’m asking you, because you have this experience. But you’re very good at being condescending and avoiding subjects so since you bring your children into this let me give you some parenting/communication advice to shorten long arguments/debates. Did I come here to say I know more than you? No. Did I say you’re wrong? No. Did I bring up specific mechanical aspects of trading only experience teaches, yeah! And you’ve been doing this for years and been on wall street yadayada. I respect your knowledge and experience but you avoided all of my points made above! I am not trying to GRQ, I’m trying to understand and you told me what you think I should do but avoided my questions which are important for me to learn. Cheers!
@@mikeg8343 That is incorrect, I SPECIFICALLY told you WHY you don't want to use a stop limit as a stop loss and you simply didn't like the answer. Period. Don't get it twisted. Do what you think is best, you're gonna do it your way anyway, just like my kids until they learn the hard way. CHEERS!!
Hi Jarred, before taking a trade, do you require any particular range (maybe 0.50 or more) between entry price and resistance/support? I've had a few trades where price reversed after entering with like a 0.07 pivot and 0.20 before resistance/support. Many thanks for your lessons.
Do you use pre market data?
Yes I do...
Just want to be clear on something.. in your examples charts, on the daily with the igniting bar to the right.. is that bar in the premarket? or after the open?
@Live Traders - Again good video..... If your team is making these kinds of bad trades then they should check themselves and stop trading for a little while. This sounds like a nightmare. Kinda glad I am not using real money yet till I know what I am looking at is garbage or is good. Because one day....
There go I.......
And I don't wanna be one of those guys that are on here goin oh shit oh shit freaking out over a bad trade.
Everyone makes mistakes...you will too, BUT, you really need to be using REAL money after 2-4 weeks. Once you've learned your platform, go to VERY small risk ($5-$10 per trade) with real money. Why? Fills are different and emotions are different. If you do it properly and keep the risk small you won't get hurt...It's part of learning. Cheers!
Hi Live Traders, can you show us your thoughts about NEO? (NEO is number 17 on coinmarketcap)
The stock symbol NEO looks higher over $23.60...up to $27 ish. Cheers!
@@Live.Traders Thanks! Video?
Enjoyed the content of the lesson, learning why my trade this week failed, plus I didn't get out of the trade because I had set a stop and it cost me $14 instead of $1 (FIT)because I wasn't concerned about the trade because of the stop. Not too smart. Kind of foolish actually. Two lessons learned.
Making mistakes and learning from them is part of the growth process...we all do it. The faster we make the necessary adjustments, the faster we move forward...
what is a level 1 and 2 gap?
It refers to the quality of the gap...right out of the PTS course...Cheers! Jared@LiveTraders.Com
Master Class ... Thank you
I always click the like button within 5 seconds.
But wouldn't the igniting bar always exceed or be close to the ATR?
No, why would it?
amazing stuff master Jared. thanks mate
So good. Thank you.
ty for these type of videos, this one when over my head am going to have to watch it a few times. first time am h
earing about 2,3,4 bar plays
You should watch the few videos he have on 3 bar play and 4 bar play. its a very nice pattern but a lot to it than just 3 bars.
Thank you. Appreciate the lesson on ATR. Just one question-- at the 49:03 point in the video, you said this one was really good. But the wide igniting bar seemed to exceed ATR. No?
Probably was a level 1 or level 2 gap.
What class was this?
So you have the criteria that need to be matched. Then this is confirmed by the 3 or 4 BP. Do you weight the catalyst strongly or just TA. Hype and FOMO from other traders may negate all the below.
Below Support
Tradable VOID below a wide range igniting bar
Volume spike on bar number 1
Narrow range resting bar, is in the lower 50% of the range
Near a whole number
ATR not exceeded
Not close to S/R on the daily or 5 minute charts
What is a level 1 or 2 gap?
If I paper trade (Simulation) and find myself doing well, would that be enough to switch to go live and invest while risking 2 or more percent or should I live trade with no more than 1% risk, before I risk more regardless of paper trading? In essence, does paper trading have benefit in practicing my day trading plan or is practicing live with small amounts a must?
I appreciate the videos a lot and how much you stress all of the necessary point like money management and planning.
I look forward to hearing your response, thank you.
Do NOT use 1% risk when you are new. That's INSANE. You should NEVER risk more than $5 to $10 per trade when new...and you should get off of the sim account as soon as you understand how to use your platform. Real money = real emotions and real fills. cheers!
I'm new to day trading, what are the best platforms and apps for day trading?
Trade Station, Interactive Brokers, ThinkorSwim, Fidelity, Lightspeed. Cheers!
Live Traders Thanks man! I’ve been scared of things like plus 500 after hearing some horror stories
does premarket chart affect atr??
Isn’t ATR the same as a stocks Beta, e.g. a stock with a high Beats will have a wider ATR.
Usually...