SPY Ends Up Flat While Tracking Account Hits New Highs on the Year
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SPY Ends Up Flat While Tracking Account Hits New Highs on the Year

John f. Carter - March 11, 2016

Hi everybody, this is John, and welcome to the free video, and we are looking at the S&P's today. On the SPYders, now keep in mind we had a beautiful squeeze here, a beautiful rally. We ran out of momentum, and then the ECB news came out, and we came all the way down almost to the tick, to the sky line, and then closed at dead even on the day. So it opens up the door to more upside. I am not super bullish here. I'm also not super bearish. I'm just like, let's see what happens. I do think at this point, keep in mind that next week is monthly expiration, so I am looking that today was a potential low, and we're just kind of up to choppy into monthly expiration, so that all the premium around these levels can close.

Okay. And in terms of trades and things like that, this account that I'm using here to track the trades that we're doing in the room hit a new high today. We had a really awesome trade in Tesla. Had some calls. We sold those at the open. Lost some money on the SPYders. We've got a nice position in SLV. We'll take a look at that. That was in Priceline. On Netflix, lost money. On Lululemon, closed that one out, lost money, and Intuit, Google, little small loss there, Autozone, nice winner today. Etc. so, net net.

This is the account that I'm trying to get to $1,000,000. We started off a $185 some odd thousand, and now it's sitting here just at $300,000. So that was my first goal, get it to $300,000, then start upping the size and see if we can go.

So that's the kind of stuff--it's really just kind of that trade management, especially since we've got this volatile market right now. What are the best trades to do that? If you're actually really trying to grow, say, a small account into a big account, what do you do? A big part of that, and this is what I was talking about with Tesla earlier, is just kind of knowing where moves kinda peter out. So this is a move that we caught in Tesla at the beginning of the week, and then later, once it consolidated, we picked up some more and dumped it all here.

So now the question is, why did I sell it here at the open, all right? That was something that we texted out. Instead of potentially holding onto it, and turning it into a loss.That's just because I mean, essentially, it's understanding the nature of how markets move. No market goes straight up or straight down, and when you get that, what I call high probability setup and high probability target, you've got to be very very quick to exit that trade. Okay? And that's how you make money, is on the exits. You can't be too greedy, but at the same time, you've got to be willing to kind of step up and take that risk, to at least get into the trade and be able to identify that.

So that's kind of the stuff I'll be talking about this Saturday's class. It's not only what's working in this market, but specifically, if you want to take a small account and turn it into a big account. I'm not talking like, oh small lot course, let's look at weekly squeezes. It's knowing when to have what I call normal-sized trades, and knowing when to press it. When does everything come together. When can you take a larger than average trade and get in and out, and really get that EKG spike in your account.

I'm also gonna be talking a lot about something new, that I haven't talked about a lot before, and that's using tick charts. For example, with Tesla, using like a 233 tick chart vs. like a 512 tick chart. I do that for futures. I haven't really talked about how I do that with stocks, and you'll find that very very interesting.

You guys know the deal. Saturday class, that gets you all the information, that's $497. The most popular one is the three-day live trading. Essentially, you get this class, plus three days of live trading. Then, if you're into live events, you got the elite package here.

All right. It's going to be awesome. Looking forward to seeing you guys there.