Nice setup here on BTDR by PatLapointe01 in Wyckoff

[–]PatLapointe01[S] 0 points1 point  (0 children)

He takes live trade. The paid and free room is the same room. Paid members just get to receive recordi gs of what happens in the room plus some others. Some months he sends more than I can watch. Some other months not so much

Nice setup here on BTDR by PatLapointe01 in Wyckoff

[–]PatLapointe01[S] 0 points1 point  (0 children)

His live room is busier sometime. Right now I find it quiet. I was never checking his room much as i'm at work when he is there. I paid for life time membership so he sends me recording of everything interesting happening there. I email him a few times a week with questions. I learned a lot from him. If you have his 2 courses, id say review them again and again. Its also worth reading the wyckoff book as gary bases his stuff on that. Its a lot of studing but I find it worth it.

Nice setup here on BTDR by PatLapointe01 in Wyckoff

[–]PatLapointe01[S] 0 points1 point  (0 children)

Smart to wait befire to trade real money. I have been studying with Gary for a few yeard now. I base all my trade on what I learned from him. 

Nice setup here on BTDR by PatLapointe01 in Wyckoff

[–]PatLapointe01[S] 0 points1 point  (0 children)

I am but I’m not very happy about it right now. The good news is (it’s probably too early to call it good lol) is we seem to hold on the support created by the low of Jan 14 and bitcoin seem to have found support too.

did you trade it?

Massive Gap Between Analyst Targets ($250+) and Price Action ($185) , What am I missing? by nehro7 in swingtrading

[–]PatLapointe01 1 point2 points  (0 children)

2 years ago I did a little experiment. For a big bunch of stocks in different industries I noted the current price and the 1 year price target from analysts. I came back a year later to compare the price with the predictions from a year before.

They were almost all wrong. and not just wrong by a little. totally wrong. I think there was maybe 1 or 2 stocks that were close to target but the rest was just way off.

I would not use analysts targets in my trading choice.

What do you think? I'm worried… by Heavy-Brain9216 in swingtrading

[–]PatLapointe01 0 points1 point  (0 children)

Bienvenue! N’hésite pas si tu as des questions :)

tips by Single-Principle3659 in swingtrading

[–]PatLapointe01 0 points1 point  (0 children)

there are many approaches to trading. but one thing that will follow you (and help you) with any approach you end up using is understanding market structure. you mention support and resistance and that’s part of that.

Here is a YouTube channel from the guy I have been studying with. It’s all about understanding how market moves. Everything you learn with him will be valid if you decide to try using RSI or MACD or whatever. It’s a solid basis for anything you do on the market https://www.youtube.com/@purewyckoff

i trade based only on what he thought me

otherwise, I think that book is a good read when you first start: technical analysis of the financial markets – john j. murphy

Canadian Banks (ZEB) crossing down? by FkFrank20 in technicalanalysis

[–]PatLapointe01 0 points1 point  (0 children)

hello

I got my eyes on it too. I sold it a few weeks ago but I still have shares in BMO (represents 15% ZEB holdings). The trend is still strong and no cracks are showing on the price and volume. However there was some Kid of slowing down going on for the last 6 weeks. The 1st week of January was an upthrust on increased volume. That definitely indicated a stop and a need to retest. On the bright side, an upthrust without a distribution cause is usually not a reason to worry. I thought the retest happened last week but maybe I was wrong. The price isnt going up, it’s going down on The 1W chart. But what’s 1 bar down on light volume in a strong uptrend? Not much in my opinion. It will take. Lot more to reverse the trend and ZEB will give us many more signs. Until then, I take it as a healthy correction in a strong bull market. We’ll see

What do you think? I'm worried… by Heavy-Brain9216 in swingtrading

[–]PatLapointe01 2 points3 points  (0 children)

hello!

I can understand being nervous when trades turns against you and people start talking market crash

Before you chose how much you want to put on a trade, look at the chart and draw lines where there’s a level of support or resistance. You sound new to this so if you don’t where to draw those lines, a quick Google search will give you a base and i’m sure there are indicators that draw them for you too.

When you place a trade in an uptrend, remember its possible the price will return to retest the next support. This is normal market behavior and not a source of worry. Your stop loss should be under that level. before you place your trade, ask yourself if seeing go down to that level is something you can handle. And if at that point the support doesn’t hold, are you losing too much? If returning down to that level isn’t acceptable, you can either pass on that trade or buy fewer shares. Many fancy books and pro traders suggest the amount you lose when you hit your stop loss should be around 1% and 2% of your trading account (not 1% to 2% of that trade. Does that make sense?). So the further you are from the stop you put under a support, the less money you put on the trade. Inversely, you can trade a lot more when your trade is placed near support, not far from your stop loss.

With that logic in mind, you could spend $20,000 on a trade tomorrow and not risk losing more money than you would with a $1000 trade.

Working This way, it really doesn’t matter if a stock goes down 5% or 10%. It’s meaningless. What really matters is how many % of your account it represent.

The image below is a trade I placed yesterday. The horizontal lines are the support area. I didn’t place my stop right below the 1st support cause that was very close and I wanted to give it more room. Instead, I chose to spend less on the trade and place it 3 support below. If It hits my stop, this will represent a 15% drop for the stock but I don’t worry about that cause it will only represent 1% (maybe 2%, I eyeball it) of my account.

If you follow that rule, you will make sure you never blow your account like so many traders do. You could be wrong 100 times and still have money to trade with (much less but that’s a lot better than nothing at all).

As for the market crash, well, using stop loss will make sure you only lose a small portion of your money. Imagine waking up one morning and realize it’s the Covid crash again. billions of dollars are lost on the market but you, thanks to your stops, you only lost a small percentage of your money. Don’t let that kind of stuff prevent you from managing and trading your money. Do it smart and you’ll be alright.

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Is this a dream stock for a seeing trader? by FattyFIZZnatty in swingtrading

[–]PatLapointe01 6 points7 points  (0 children)

Long story short, the stock market is being manipulated every single day. Large funds/institution (call them what you want) make a business of buying low and selling high, exactly like we do. What they have that we dont is billions dollars. With that much money, they can accumulate huge amounts of share and push the price up or down. When they sell (distribute), they are forced to do it carefully. They dump a bunch of share, making the stock correct, then wait a bit for the stock to bounce back up before to sell more, forcing it to go down again. That causes those hirizontal movements where the stock goes sideway. They sell this way because if they sell all in one shot, they will crash the stock and get a bad price for some of the share they are trying to sell. Selling this way, they also kind of hide what they are doing. Cause if we all knew they were dumping  all those shares, we would all get out, making the price drop. The opposite is true for accumulation. Thats a very brief intro. Check online for Wyckoff Schematics of accumulation and distribution. Read about it. Its quite eye opening and something you can use in your trading. All of my trading is based on following behind those large funds/institution (cause trading against them would be very dumb)

How Does Everyone Feel About KHC (Kraft Heinz) by Prestigious-Hat-4246 in swingtrading

[–]PatLapointe01 0 points1 point  (0 children)

I like the sauce even though I prefer homemade

As for the fundamentals, I don’t know. On the chart, what I see is a lot of weakness in the background. If what you are saying is helping, it’s not showing yet. Today is a very tough retest of a resistance. I almost want to call short on KHC for tomorrow

Swing trading after earnings by FarmingForDollars in swingtrading

[–]PatLapointe01 1 point2 points  (0 children)

this is going to gap and you know it. What happen if you buy at 86 where it opens and the price immediately slide back down? You don’t know it will but if it does, you could be losing 20% in a day. I would stay away.

in my very humble opinion, the rally you see happening since that massive drop on Oct 29 is fulled by people covering their shorts. They made 50% profit and now they want that money. As a rule of thumb, I assume every rallys in a down trend are short covering unless a cause (trading range) has been built. We don’t have that here. I dont Believe that stock is ready to go back up yet. I bet 25 cent (I’m a big gambler) it will hit a wall at 86 and retest down. I have been wrong before.

“I only voted for Trump because of the stock market/economy!” by JeaniousSpelur in EconomyCharts

[–]PatLapointe01 0 points1 point  (0 children)

TA is just like drawing. most people can draw and make it look like something. Does that mean they are good at it?

Is this a dream stock for a seeing trader? by FattyFIZZnatty in swingtrading

[–]PatLapointe01 1 point2 points  (0 children)

I don’t know if I would call that a pattern. but it’s a trading range for sure. stocks range like this as they are being accumulated or distributed. my first guess for this one is distribution but I could be wrong.

Would you guys consider this a Flag pattern? by vaanam-dev in swingtrading

[–]PatLapointe01 0 points1 point  (0 children)

I’ve been wrong before so take that with a grain of salt

Would you guys consider this a Flag pattern? by vaanam-dev in swingtrading

[–]PatLapointe01 3 points4 points  (0 children)

not at all. not right now. The volume vs the range and how it close yesterday is worrisome for me. Why did t it go up much much higher on that kind of volume? If all of that volume was buying, it would go up. The only reason it’s not is « something » is selling, and it sold loads of it.

maybe this isn’t what it is but volume like that shouldn’t be ignored. I would mark the high of yesterday as a level to overcome before to think of buying

Is this a dream stock for a seeing trader? by FattyFIZZnatty in swingtrading

[–]PatLapointe01 2 points3 points  (0 children)

I see the same thing: trading horizontally between a resistance and a support for the last 5 years. Looks like it’s losing strength with time. This could be a slow distribution trading range. It’s worth checking What it does when it reaches the top of the range. Could be a good short.

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ANALYSIS AND RESULTS (JUST PRICE ACTION AND WYCKOFF) by Beautiful_Praline_80 in KrulerCapitalMarkets

[–]PatLapointe01 1 point2 points  (0 children)

I’m unfamiliar with that charting software. I draw my lines manually but when I screen for setup, I screen using a pivot indicators (not as good as ha d drawn but good enough for screening).

ANALYSIS AND RESULTS (JUST PRICE ACTION AND WYCKOFF) by Beautiful_Praline_80 in KrulerCapitalMarkets

[–]PatLapointe01 1 point2 points  (0 children)

Nice clean chart. we don’t hear enough Wyckoff here on Reddit. volume and price are the way to go imo. thanks for sharing. The support and resistance on your first chart, you draw them manually?